CatFx50 - page 399
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nina its amazing we show them everyday with charts and results and yet backtesting is still required more indicators needed so on and so on it gets a little tireing dont you think? i dont mind helping but this is not rocket science if you get a cross of 50 ema on 30 min chart and step stoc crosses put on trade whats so hard about that
Hello harold,
I know you ve been doing this for some time now, but i am relative new to this, and since i am interested in trading it live, i need to see what and how has erformed in the past, for myself. This was a really hard work to do, and I shared it only for other traders with doubts about how the system can perform in non trending markets like the past 3 months, and they can see how a good system like this with clear rules, good money managemet could have yield a lot of money, followed strictly of course.
Obviously taking into consideration that a backtest should be taken with a grain of salt, but as i didn t see the system working on not trending made good sense to see it by myself rather to let others tell me it worked.
Now you have here the data of the trades that appeared, if anyone care to look at the dates you will see for yourself what operations were traded and learn faster how to trade it.
Finally if it was easy to trade forex i m sure we wouldn t be here posting, before trading succesfully any system you have to beleive it works, i m glad that you are already there, i will be there soon to.
Regards.
PS: this bactest took a lot of time and effort to make, so please don t trash a work that you may not need, i do needed it.
Could you let us know how you performed the backtest, was it just by manually looking at old charts.
i am not trashing your work sometimes backtesting doesnt prove enough sometimes indicators repaint past so you will get false readings the best way to test is to trade it live on a demo first learn how to plan your trade and trade the plan i have been doing this for 6 yrs and before i came across the step indicators i always used a cross of the 50 ema along with different filters since i switched to step stoc indicators my win loss ratio has jumped from 63% to 78% what i think confuses people are the different levels of entry so let me explain it simply so every one gets it when we have a cross of 50 ema and a cross of step stoc put on trade thats level1 when step indicator is in say upside and price comes down and closes below we wait till price closes above to enter thats level 2 level3 is tricky so stay away from it for awhile there are plenty of level 1 and 2 trades daily level 4 is simply a breakout say we are in uptrend and step indicators are in uptrend but we have consolidation on a break of recent high you enter only to the upside oviously if its a downtrend we only take trade to down side thats what is meant by trading with the trend hope this clarifies things and cisco i dont trade european session i sleep then i used to trade both and though i could make more money i chose to sleep instead i dont want this stuff to consume me
Harold 4x
Yea Harold, I understand 100%
If you have a life. Its best to keep Forex on a leash cause its has a way of taking control. I see this in myself as well
I should have been clearer in my question in the previous post. Whats your opinion so far on trading the Asian session? Have you tried? If so....is it worth the bother, and how have the indicator preformed.
Don't mean to disturb you with these questions. Through the tread I have grown to respect your opinion, and I feel you may have some knowlegde on this. However, if you haven't traded it at all I will obiously understand this as well.
dave i always new what level 4 was just didnt agree with nina on a couple of her level 4 recaps thats all cisco trading european and ny should be the only trading sessions you trade from 2 am est to 11-12 pm the only time i ever traded asian was when jpy was doing interventions and i would place order 20 pips from price and wait for the explosion for easy 70 to 100 those days a over at least for now trading need volitility so stick with london and ny as for step stoc indicator they ROCK
Thanks for the advice Harold....
backtesting doesn't work, period. You have to account for slippage, server outage, and many other factors. Besides, MT4 platform is unstable, and the free data feed you use for backtesting is not reliable.
Just some factors. Also consider a simple cross-over MA system with backtesting, it's real cool with backtests, however try to trade it naked live, and you will see what I mean.
CatFX is profitable, I could see that, I use it for confirmation of short-term trends and retracements.
Interesting idea about pyramiding though, would be interesting to watch how that idea evolves with this system.
as for step stoc indicator they ROCK
Harold have you seen this indicator anywhere on the Net for Metatrader 3 ?
My 2 live platforms are VT and MT3
so cant use this on them. Have to flip back and forth from demo MT4 to live.
Thanks
the real test of a trading style are trades you make take a snapshort of each trade you make and keep a journal then after 50 trades see where you stand i personally can vouch that trading the 3 step stoc cross with a cross of 50 ema works both in trending and non trending markets because trading on a 30 minute level there are always trends within the trends
for instannce is not the euro trending up well why did level 1 work because there are always retracements and trends with in the trends as for the step being used on any other platform i dont think so it was made for mt4 i also trade on a different platform for my live trades once i have a signal i close down mt4 an consentrate on my live platform