CatFx50 - page 388
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get yourself neuimex mt4 so you will have same data feed as everyone else downunder since trading day is 800 (thats the time on chart) dont get confused about cet gmt or any other its technically 200 am est that you now because you lived on east coast so as nina explained the high to be broken was 8886 know concerning mr bubble do you trade this method thats number 1 if not why not i have posted plenty of times in past my exit is always 20 pips unless it zips by since i never put a limit order for just that reason so if it passes i move stop to +20 and look to exit at next pivot if you trade some other method why are you here? since you have your own method and you make money consistenly why dont you prove it to us post your trades you up to it ?
Hi Dave, Harold, Nina and All,
Dave, I've looked at your chart and I'm at a loss to explain the things you want to know. I don't make it a point to trade level 4's because I consider them very risky, since you don't wait for the candle to close and a new candle to open. That's not to say I won't ever do a level 4, but it will come when I have much more experience than I've got now.
My viewpoint is this: I'll just as soon wait the entire trading time for a signal that I understand and feel confident about, and if that doesn't happen, que sera, sera. Tomorrow is always another day! Matter of fact, I've already opened a real trading account, but just because I wanted to get all the preliminary paperwork out of the way.
The hardest thing to develop - as far as I'm concerned - is my own trading style. Check out the more experienced folks here, Nina, Harold4X, Mibl, and you'll notice they have well-defined viewpoints and styles. Technical indicators don't mean a darn thing unless you are at ease with your way of using them.
A little analogy: I'm a better than average Blackjack player and it's because I follow the "finer nuances" of the game. Upon initial examination Blackjack doesn't appear to be a hard game to master. You look at the odds and do your best to beat the dealer. Depending on where you play, the dealer either hits or stands on a soft 17. The player can stand at any time.
All the above would make anybody think Blackjack is an easy game. Yet and still, they don't tell you about older dealers that are very good at deck manipulation, or decks that have been "spooked." What if the cards have been marked...how would you spot that? What if the entire casino is cheating? Of course, you do know they cheat...don't you?
All the above shouldn't imply I win all the time...I don't. However, I do know what to do in just about any situation that can present itself. I've answered all the questions in the preceding paragraphs and know just what to do. I also know my most potent move is to get up from the table and walk away! Heck, I've spent many days in Vegas just looking for a table to play, and didn't find one!
I'm in no hurry to trade live 'till I can bring the same level of confidence that I have in Blackjack to my trading platform. Some trades - such as level 4 - I won't even go for them because I don't have experience. Yes, I'll watch them, but won't shed any tears if I don't get on board!
moneyline
Hi!
I attach 2 charts of that level 4 on cable last Friday.
I want to remind that level 4 trades are riskier if we have not strength. But if they have it, God!!!!, they give a lot of money. There are system out there based only on breakouts and they cost a lot.
BTW, this thread has now more than 400.000 views. Well, there may be a lot of people wasting their time here, cause some say that if you do not have an exit strategy you are dead.
Yes, you are dead. Friday, for instance, I ended the day with -1.500$ when I was above +3.000. Why?
Was a bad CatFX50 day? No, it was not.
Why then did I lost that amount of $?
BECAUSE I played against CatFX50. BECAUSE I betrayed myself. BECAUSE I was not disciplined. BECAUSE I thought I was the master of FOREX. BECAUSE I was stupid and an asshole.
BTW, this thread has now more than 400.000 views.
Nina
statistics
Hi Nina, and all.
400000 wow that is a lot of lookers nina
Nina, i am just starting to do what you sugested in post #3883 and do a little statistics gathering, mostly for my own information about how this method works, and to try and workout the best strategy to maximise profit.
to start i am only looking at level one entries, with targets as you sugested to be 15pips 20, 25, 30, 40, 45, 50. also using a 34pip stop loss.
I am going to record the date and time of entry on which pair, whether buy or sell and price entered, next is to record whether targets1 thru 7 (T1-T7) are hit, also the max favourable effect of the trade and the max negative effect of the trade.
the only thing i am a bit stuck on and would like some input about ? i was thinking if i was in a trade and price goes against the trade and crosses the 50line in the opposite direction and we get a candle open on the opposite side of the 50line with a confirming stepMAstoch signal the first trade should be closed without letting it hit the stoploss if it hasn't allready, and reopen a new position in the new direction. Would you think that this is the appropriate course of action in this situation.
Also, 1 more question, if price goes thru the 50 line and a new bar or candle opens above (buy) or below (sell) but the stepMAstoch hasn't yet changed but it does by the time that candle closes, we can still enter the trade at the opening of the 2nd candle after the crosss? or do we just let that trade pass?
I am at the moment only going back to the 1st of april till now with the stats,and have only started with euro once that is done will do gbp and then will move on to chf.
I cant wait to see the results as i think it will show just how profitable this method can be if you employ the right strategy.
cheers for now
Geoff
EURUSD
>8:00cet: Level 4 long @1.2875, made a high @1.2957 (>11:30cet) => +82 pips **
USDCHF
>8:00cet: Level 4 short @1.2092, made a low @1.1964 (>11:30cet) => +128 pips **
GBPUSD
>9:00cet: Level 4 long @1.8886, made a high @1.8895 (>11:30cet) => + 109 pips **
..................
Hello,
Nice pips indeed!
Hi
Geoffro,
I have some suggestion. the month April06 was totally different than Feb 06 it was range bound market not trendy like in April. so conclusion on the basis of only April months trade will be different if you analyse Feb Trades.
But March was a mix of both.
This was my input. You may goahead the way you want
Hi!
I attach 2 charts of that level 4 on cable last Friday.
I want to remind that level 4 trades are riskier if we have not strength. But if they have it, God!!!!, they give a lot of money. There are system out there based only on breakouts and they cost a lot.
.............
NinaHi NINA
I congratulate to you for 400000 views and your comment is truly.
As you said we need:
Focus, discipline and patient.
Hi Nina, and all.
400000 wow that is a lot of lookers nina
Nina, i am just starting to do what you sugested in post #3883 and do a little statistics gathering, mostly for my own information about how this method works, and to try and workout the best strategy to maximise profit.
to start i am only looking at level one entries, with targets as you sugested to be 15pips 20, 25, 30, 40, 45, 50. also using a 34pip stop loss.
I am going to record the date and time of entry on which pair, whether buy or sell and price entered, next is to record whether targets1 thru 7 (T1-T7) are hit, also the max favourable effect of the trade and the max negative effect of the trade.
the only thing i am a bit stuck on and would like some input about ? i was thinking if i was in a trade and price goes against the trade and crosses the 50line in the opposite direction and we get a candle open on the opposite side of the 50line with a confirming stepMAstoch signal the first trade should be closed without letting it hit the stoploss if it hasn't allready, and reopen a new position in the new direction. Would you think that this is the appropriate course of action in this situation.
Also, 1 more question, if price goes thru the 50 line and a new bar or candle opens above (buy) or below (sell) but the stepMAstoch hasn't yet changed but it does by the time that candle closes, we can still enter the trade at the opening of the 2nd candle after the crosss? or do we just let that trade pass?
I am at the moment only going back to the 1st of april till now with the stats,and have only started with euro once that is done will do gbp and then will move on to chf.
I cant wait to see the results as i think it will show just how profitable this method can be if you employ the right strategy.
cheers for now
GeoffHi, Geoff!
Thank you for your work.
Of course. Lets say, price crosses up EMA50 and new bar opens above EMA50 with Hist_StepMA_Stoch in green. You take the trade. Then price goes up a few pips and reverses, crosses down EMA50 without hitting stop of 34 pips and new bar opens below EMA50 with Hist_StepMA_Stoch now in red without hitting neither 34 pips stop. You should close your long trade and open a short one. Do it like this now in order to have your work done.
To open a trade you need an opening above/below EMA50 with Hist_StepMA_Stoch in green (long) or red (short). If that happens at the third bar, it is ok as long as the gap between EMA50 and opening is less than 21 pips. When is more than 20 pips, you can also take the trade, but you should know that the trade is riskier.
Nina
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cheers
In reply to mibl,
The same request has been made time and time again by many members to those who are making claims of consistent profits to post live trades.
Catfx50 according to its inventor is the easiest system in the world , with clear rules for entry only, and yes we all know that the exits are discretionary according to ones own trading style and that all profits are hypothetical.
A signal to trade must have clear rules for entry, a stop loss , a profit target (risk reward ratio), before a trade can be considered.
Between the 3 major contributors on this thread you make between 20-30 posts a day.
The system gives on average 3 signals a day ,how hard can it be after youve placed your trade to post the entry, stop loss and profit target or exit when it happens.Check out post 3433 --
Quote:
I would not post my real time trades because:
a: this is not a game.
b: I do not want people to follow my trades. I do know how much I can lose.
c: This is not a signal service.Hi Kiwigold and All,
I think the decision to post your trades live or not should be left up to the individual. Those that can handle the extra work, and feel like they would like to post their trades, should by all means do so. We thank them all!
Besides, I think CatFX50 has matured and not everybody is a home-spun 'n green newbie. There are those that would feel comfortable posting in real time, and wouldn't sweat it. We are all different!
moneyline