CatFx50 - page 552
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CAn someone recommend something for getting over the fear of placing a trade. I mean, i'll place a trade and then i'll get a heart attack and exit with little profit. LOL.
Hi jwoger,
The best way to get over that fear is to gather up about 50 trades that have been posted here on this thread, and then review them one by one using your MT4 terminal. Take notice of how long they took to produce profits, how many pips in the wrong direction some of them traveled before producing wins.
Take an entire day and go back to the particular time frame in your MT4 application, look at each trade on a case-by-case basis and make as if you are trading it. Do your best to achieve a conceptual and in-the-gut understanding of them. Pay very close attention to the ones that turned south, but then went in the right direction and produced profits.
Above all, calm down and just simply realize there will be losses, there's nothing that can be done about that. With time you'll come to understand that it's not the losses that count, but the ratio of wins to losses that does the trick.
moneyline
Hi!
That buy on USDCHF (09:30cet) is a level 1 buy. It is 21 pips above EMA50.
Let's say we bought it at 1.2453. It went against us 22 pips and it made a high at 1.2490. + 37 pips. At 14:30cet we had the chance to buy more (level 4 buy) at 1.2434 and it made the same high: 1.2490.
About EURUSD trade: It is a level 1 sell (09:30cet) at 1.2558, 21 pips away from EMA50. It went against us 17 pips and made a low at 1.2514: + 44 pips.
Then we had the opportunity to sell more (14:30cet, level 4 sell) at 1.2558 and more (level 4 sell 16:00cet) at 1.2542.
Where we have a lost of 34 pips is on cable if we sold (level 1) at 1.8173 (09:30cet). But then, we had a level 4 sell at 1.8205 (14:00cet). It made a low at 1,8140: +65 pips. We could've added more (level 4 again @ 16:00cet) at 1.8178.
Anyway, a nasty day but, if you had followed catFX50 rules you would have made pips today and only a lost of 34, right.
NinaNina, Wouldn't they be level 2 trades? it does satisfy these requirements.
Level 2 Buy:
1. Price is above 50 EMA.
2. Price crosses below 50 EMA.
2. Hist_StepMA_Stoch is green.
3. Price then opens at least one bar below 50 EMA while Hist_StepMA_Stoch stays in green mode.
4. When price opens again above the 50 EMA with Hist_StepMA_Stoch validating (green), we can buy.
Let me know what i'm misunderstanding here.
Nina, Wouldn't they be level 2 trades? it does satisfy these requirements.
Level 2 Buy:
1. Price is above 50 EMA.
2. Price crosses below 50 EMA.
2. Hist_StepMA_Stoch is green.
3. Price then opens at least one bar below 50 EMA while Hist_StepMA_Stoch stays in green mode.
4. When price opens again above the 50 EMA with Hist_StepMA_Stoch validating (green), we can buy.
Let me know what i'm misunderstanding here.Hi Jwoger,
I am not Nina. It is just my understanding about the difference between level 1 and level 2 trade.
If the Hist_StepMA_Stoch turns from red to green and price opens above the 50 EMA it is a Level 1 buy trade.
If the Hist_StepMA_Stoch keeps i green, first, price goes down and price opens below 50 EMA on one or a few bars, then, price goes up and opens above the 50 EMA and we get a Level 2 buy trade.
Regards
hgus490
Hi All,
Be extra careful trading tonight. There's much reduced volatility in the market because the big players are staying out, they don't want to have any positions open when FOMC data arrives tomorrow.
moneyline
Hi Jwoger,
I am not Nina. It is just my understanding about the difference between level 1 and level 2 trade.
If the Hist_StepMA_Stoch turns from red to green and price opens above the 50 EMA it is a Level 1 buy trade.
If the Hist_StepMA_Stoch keeps i green, first, price goes down and price opens below 50 EMA on one or a few bars, then, price goes up and opens above the 50 EMA and we get a Level 2 buy trade.
Regards
hgus490in this kind of market, i dont think worth it to apply this technique....just wait for FOMC
Nina, Wouldn't they be level 2 trades? it does satisfy these requirements.
Level 2 Buy:
1. Price is above 50 EMA.
2. Price crosses below 50 EMA.
2. Hist_StepMA_Stoch is green.
3. Price then opens at least one bar below 50 EMA while Hist_StepMA_Stoch stays in green mode.
4. When price opens again above the 50 EMA with Hist_StepMA_Stoch validating (green), we can buy.
Let me know what i'm misunderstanding here.Hi, jwoger!!
EURUSD, Histo was first green and then turned red (on my platfrom at least).
About USDCHF, you are right and I was wrong: it is level 2, we had bars opening below EMA50 with histo in green.
Nina
Hi!
About level 2:
We have one level 2 buy ( 08:30cet) on USDCHF at 1,2459. It has made a high at 1.2482 so far. + 23 pips.
We have a level 4 (09.30cet) at 1,8156. It has made a low so far at 1,8139.
+ 17 pips.
We have a level 4 on EURUSD (10:00cet) at 1.2543. It has made a low so far at 1,2531. + 12 pips, less than our 15 so far.
Nina
Hi, jwoger!!
EURUSD, Histo was first green and then turned red (on my platfrom at least).
About USDCHF, you are right and I was wrong: it is level 2, we had bars opening below EMA50 with histo in green.
NinaHi Nina,
May I ask you, do you mean USDCHF at 1.2453 @ 9:30 yesterday was a level 2 buy not a level 1? On my platform Neuimex, Histo was first red and then turned green on 9:00 bar.
hgus490
Hi Nina,
May I ask you, do you mean USDCHF at 1.2453 @ 9:30 yesterday was a level 2 buy not a level 1? On my platform Neuimex, Histo was first red and then turned green on 9:00 bar.
hgus490No, I'm not saying that. I'm talking about 14:30cet bar.
Nina
Hi!
Another nice level 4 sell on cable ( 11:30cet) @ 1,8138. Made a low so far at 1,8114. + 24 pips.
Take care, USDCHF must break clearly 1,2495.
Nina