CatFx50 - page 772
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Plz help about open rule
Hi!
You buy or sell when new bar opens above/below EMA50 as long as Histo and/or StepMa validates the trade.
Hi!
Forex Meteorologists, like snake oil sellers, are predicting - guessing - that EURUSD has made a high that will last for long and now its way is to downtown.
I do not know what they have in mind, maybe they just toss a coin. But they make their living doing that and selling their analysis and "guessings". The majority of them do not trade at all. Otherwise, they would be already broken.
The majority of them where predicting a strong number and were making calls like "sell EURUSD". Here you have one:
"The fundamental economic data on the USA are extremely good, which makes the expectations of the US economics slow down in the nearest month totally groundless.
Technically I can say the following about the US dollar: the increase of the dollar at daily indicators turned USD at weekly graphics against all the currencies. (.....)
Considering the positive macro statistics published last 2 months, and the values of the employment sub-indexes in the main economic indicators of the USA, I suppose, that today's data on the listed number of employed will display a serious growth, at least it will not be bad.
It will give the US dollar extra strength to break the descending trend.
The forecast of the amount of employed is 110K, the ADP forecast - 64K. On the whole, any index of employment increase higher than 65K will be positive for the medium-term estimation of the US labour market. My forecast, based on the mathematical calculations of all nearest employment indexes in the USA, contains the increase at the level of 120-130K, which will probably not let the level of unemployment grow and leave it at 4.4% (the forecast 4.5%)."
And this is what happened:
The job report released today is generally weak. Non-farm payroll growth in Apr slowed to 88k, missing expectation of 100k and being the lowest since Nov 04. Prior month's data were revised lower with Mar down from 180k to 177k. More importantly, Feb's job growth was also revised down from 113k to 90k. With the downward revision, we now have 2 months of sub-100k NFP this year which is clearly a sign of weakness in the job markets. Unemployment rate rose back from 4.4% to 4.5%. Average earnings slow to 0.2% mom, 3.7% increase. After yesterday's data that showed moderation in wage growth, today's data suggest that wage pressure could continue to reduce in the upcoming months .
The last strengthening of USD reflects an improvement in one part of US fundamentals (ISM) rather than any sign of weakness in EUR ones. They were expecting a strong NFP, but it came out against their expectations.
This Sunday, socialist Segolene Royal will challenge the rightist candidate Nicolas Sarkozy in the second round of the presidential elections.
An unexpected victory of Royal, could send EURUSD down; but an expected victory of Sarkozy should keep fueling EURUSD.
So, do whatever you want; follow whatever Holy Grail indicator or guru, but if EUR fundamentals do not deteriorate, BCE will hike again while FED could make a cut in November if US data does not improve.
Very important fundamental week ahead.
Good luck!
I would like to say:
If EUR is ready to going down why DNT/LGE or Exotics have more volatily to up?
Hi!
Conservative Nicolas Sarkozy has won the French presidential election, according to projections made from partial results.
Mr Sarkozy is estimated to have won 53% of the vote, compared with 47% for socialist Segolene Royal.
The turnout was the highest in decades at 85.5%.
BBC
Weekly Review attached
Hi!
During this last week, I had to phone my broker three or four times. I was seeing some delay on my platform and I was requote twice. The result of all my phone calls was clear: it was my fault. My computer was slowing my actions. OK, once I could solve the problem - a lot of programs running -, all went back to normal.
Besides tech problems, we could speak friendly about retail traders. It is amazing how well they know us. Brokers are here to win. They know we are going to lose sooner than later. The smaller our account is, the better for them; as they know that all our money will be added to their profits.
8 or 9 out of 10 traders are wiped out. This is a fact and it should not be ignored. You should know what you are doing when you decide to trade FOREX. This market is a killing one and it is not regulated. If you think you could win, with a $1000 account, bank traders, hedge funds, central banks , big money and brokers, you should go to Las Vegas.
OK, weekly review attached.
Hi!
Today is a great day.
Ranges (18:35cet):
EURUSD, 34 pips.
USDCHF, 61 pips.
GBPUSD, 54 pips.
USDJPY, 40 pips.
Amazing, USDCHF, the best of all.
I have made a lot of pips today. A lot: I did not place a single trade.
Days like today are the best for brokers.
How could we avoid to trade then when we face this kind of market?
First of all, THERE IS NOT a single indicator to keep you out in days like these.
NOT A SINGLE ONE.
I want to stress once more that we move according to data and not according to whatever fancy indicator you may have in your Holy Grail MT4 folder.
This morning, I was about to sell GBPUSD when I saw UK data. But I did not do it cause the data was not strong enough to take the risk. Had I done it, I'd have made 20 pips though.
Before that data, I was about to buy cable at 1,9844bid (cable's high today is 1,9845!!). But it was topping up there for more than 8 hours and I did not see strength. London boys were not in yet, so I decided to wait for them. And they came; and we went down.
Tomorrow is a big day. We'll have important data and we will move for sure; I hope.
If I saw strength now on cable, I could sell it below 1,9790 with stop at 1,9817bid. (a 27 pips stop). But it is late; market is very thin and I'm not confident on that short if it were the case. If I'm wrong, sorry.
You are right !!
I lost 10 pips today. I knew the danger of the slow market, but just can't resist the temptation to click the mouse. I need more discipline
Hehe, sounds ridiculous, but i actually made a pip - ONE.
Hehe, sounds ridiculous, but i actually made a pip - ONE.
"A pip is a pip"
Hi!
I receive many mails like this one:
U think the amount is ok to use with your system or i need a minimum low ? i what to understand your system on a demo and i hope i'll do it but is important to know if is ok to start with such a low amount and use the system ?
And if ok what leverage would u suggest ?
Tks for the time
XXXXXX
Mini accounts are the best thing a broker could have. All of them are going to be wiped out sooner than later. So, free money for them.
What's the point waiting 5 hours to make 10 pips ($100 or $10 or $5 or $1 or $0,50or $0,10 ??????) And then you lose double of that in 10 minutes. My God. Wake up. This world is not for YOU.
Demo accounts are nice too. They let you know you can win. Shit. Demo accounts have no feelings in them!!!
One if not the most important part of trading, this is YOU and YOUR feelings, are kept behind. My God, again!!!!
Don't you see that all this business is made to take your hard money away?
XXXXX, it is not a matter of systems. CatFX50 can give you money, but sometimes the stop will be hit for sure.
Leverage is a weapon with double edge. We need it to make money, but it kills us when we lose. With $3000 in your account, you will be able to trade up to 300k and even up to 1,5M. Amazing, isn't it?
I never risk more than 2% of my account in any trade. Let's say I have a $3000k balance. I buy 50k, $1 per pip. I'm not going to lose more than $60, so I have room for a stop of 60 pips.
Lets say that with the same balance, you find in this site a Holy Grail Indicator. You demo it and you think it is the best thing you've ever found. Then, you buy 200k as you are 100 per 100 confident. A pip is $20 and if you respect that 2%, you can not place the trade, cause the spread is already $60. OK, you decide that this time, instead of 2% it will be 5%. Nice. You have room for $150, that is 7 pips. Not too much. Well, let it be 10%. $300 now. Well, that's only 15 pips. Too bad. You need more room. You are confident, but you realize you need more room. And you look at the indicator and you say to yourself: "it can not fail, all experimented forex traders that post in this site are saying is gorgeous". You need the money. Nina used to have a 34 pips. So let it be like him: a 34 pips stop. That is $680. OK. And that gorgeous indicator was not right that time. The first time you trade it and it fails. Shit. What a luck!! It can not be. You need the money. And you move your stop loss, you place it at 50 pips. That is $1000. And you lose. You are now with a balance of $2000.
XXXXX, the last thing in earth you should do is trade FOREX if your financial situation is fragile.
And you could say now: "Nina is stupid. He sells his services and is saying newbies like me to keep out". Yes, I'm stupid. I prefer that to be a bastard.