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yes harold4x i totaly agre that every trade and system must include discretion (i am live trader over 2 years and still trading..) and computers cant do that but any way i am still dreaming to automate something and go fihing for a long time even if auto system gives litle worst result then manual entries
Hi,
I've kept up with the EA development here at this forum. Though I do have a certain geek fascination with them, none of them are ready for unsupervised automated trading.
There is only one of them that shows lots of promise, but even that one has had huge draw-downs that could have wiped out many accounts. The idea of having an EA trade for you while you go on vacation is just that, a dream!
At the present there is nothing that's going to replace soaking up all the Forex knowledge you can. There is so much learning that can only be gained with experience, and so many valid - but subjective viewpoints - that it will be next to impossible to code into software...ever! None of the automated systems will ever be ready for prime-time, 'till we have software that reasons. We are a long way from that, believe me!
All the above is the reason I've never mentioned building an EA for CatFX50, and I do happen to agree: this thread is best left for manual trading.
moneyline
from Saxo :
next tehnical targets are
eurusd 12890
gbpusd 18900
nice of them to remind us of this levels but every time they predict-something smells bad
use it on your own discretion but fow me it is signal to exit short usd soon
and as i already did i will think of calling the day
Need Exit Strat help
Hello all CatFx50 'ers,
I seem to be consistantly leaving quite a few pips on the "trading floor" because I exit too soon (today for example, I left nearly 100 pips because I got out way too soon).
Does anyone out there have a good exit strategy they can share?
I'd like to investigate a better way.
Or even some indicators? (Histogram change colors?, MACD?, RSI, MA Cross?, ? ?? ?? )
I've used trailing stops alot with daily Pivot points - but with the length of the wicks on the candles these last few days, that strategy leaves alot to be desired.
exit template
i think it would be nice to maybe have an exit template. Possibly a different set of indicators time frame etc to switch over to after we have entered the trade using catfx signals. i wish i had a suggestion but i don't yet but i will work on it.
Hello all CatFx50 'ers,
I seem to be consistantly leaving quite a few pips on the "trading floor" because I exit too soon (today for example, I left nearly 100 pips because I got out way too soon).
Does anyone out there have a good exit strategy they can share?
I'd like to investigate a better way.
Or even some indicators? (Histogram change colors?, MACD?, RSI, MA Cross?, ? ?? ?? )
I've used trailing stops alot with daily Pivot points - but with the length of the wicks on the candles these last few days, that strategy leaves alot to be desired.Some traders use 5/8 MAs crossed to exit -- I like that -- but on a 15 or even 5 min chart -- or 5/13 on 5 min.
P.S. - with a simple 5/8 EMA on the 15 min chart -- you would still be in catching these pips.![](https://c.mql5.com/forextsd/smiles/smile.png)
with a simple 5/8 EMA on the 15 min chart -- you would still be in catching these pips
Doing some testing of that and it looks pretty good -
the News Straddle or the CatFx50 gives a great entry point and the cross of the EMA 5 & 8 (close) give a great exit point
Thanks!
I use Catfx50 only as a longterm trend indicator on the M30 Chart.
I also have the M1, M5, M15 charts all open at the same time, with different indicators on each. Catfx50 is on M30, but I do not use it at all for entries or exits. I use it as a confirmation for a longer term trend, along with the m15 charts.
As I do not have a huge account, I cannot waste pips, so the M30 is an impractical timeframe to trade from. I trade m1/m5 with M15 and M30Catfx50 giving me direction and longterm trends.
i realize that unless you have a really large account you shouldnt rely soley with Catfx50 becuase the exits are difficult to pinpoint exactly and the entries are also lagged becuase if you wait for the new bar to open usually a good portion of pips have already moved in the market.
I say this only becuase I can only trade with a relatively small account. Even 10pips is a lot.
I use Catfx50 only as a longterm trend indicator on the M30 Chart.
I also have the M1, M5, M15 charts all open at the same time, with different indicators on each. Catfx50 is on M30, but I do not use it at all for entries or exits. I use it as a confirmation for a longer term trend, along with the m15 charts.
As I do not have a huge account, I cannot waste pips, so the M30 is an impractical timeframe to trade from. I trade m1/m5 with M15 and M30Catfx50 giving me direction and longterm trends.
i realize that unless you have a really large account you shouldnt rely soley with Catfx50 becuase the exits are difficult to pinpoint exactly and the entries are also lagged becuase if you wait for the new bar to open usually a good portion of pips have already moved in the market.
I say this only becuase I can only trade with a relatively small account. Even 10pips is a lot.Hello drgoodvibe
What kind of Indicators do you use as entries on the smaller timeframes?
I started out trying to use the 1 min and 5 min -- many many months later, after gaining and losing -- losing more than gaining, I threw them aside.
Yep gave those up -- too volatile and too much time at the computer, and while you may "give up" some pips waiting on the 30 min chart (or even 15 min - my favorite) -- you are a little less likely to get whipped - IMHO.
This is exactly what attracted me to CATFx50 -- and again IMHO if you have just $200 in your account CATFx50 is going to help you increase that just the same as if you had $2000. But whatever system you use -- stick with it and stay simple !
Again that is what has attracted me to CATFx50 -- it is simple !!
Hello drgoodvibe What kind of Indicators do you use as entries on the smaller timeframes?
My strategy always requires confirmation of direction from multiple indicators, and multiple timeframes. I use a lot of indicators, so I hope someone doesn't follow me into using it, I have to say it's been hard, its very difficult following so many indicators in four screens/timeframes. i've been stopped out many many times before I started to figure out each nuance of the indicators.
i use
Dinapoli Detrend Oscillator
Stochastics
MTF_MACD
FiboPivot points
3 Colour MACD
Itrend
SmCCI-Test
StepMA_Stoch
EMA 50
EMA 20
CatFX50
I don't use all of them on each timeframe. On m5 I use 6 of them, on m1 I use 3 so it's different for each timeframe.