Step stoc 50 fx system - page 7
You are missing trading opportunities:
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
Registration
Log in
You agree to website policy and terms of use
If you do not have an account, please register
Getting 17 Is Fine Your Bank Acct Doesnt Know There Was A Risk Since You Banked It Good Job If There Is Room For 15 To 20 Take It The Is An Art Not A Science
Tricky Market Today There Was A Potential Signal On Gbp With 1000 Candle But Because It Closed Right On Daily Pivot It Was A Non Trade Good Thing Daily Pivot Held Sending It Down Causing Another Signal This One Was 22 Pips Below Ema Causing A No Trade Because It Is Very Risky Though It Produced A Win You Are Either Going To Stick To Disaplined Rules Or You Arent Some Would Have Said They Took The Trade Of Course After The Fact To See If Trade Worked Out And Then Would Say Didnt Take Claiming Rules Saved Them The Only Way Rules Save You Is If You Follow Them Good Trading Folks
finally a level 1 signal on euro at 930 price closed below 50 ema but both step stocs didnt at the 1100 candle close the step stocs crossed now because yesterday was a small range i disregard the mid levels so from 2744 to s1 2716 there plenty of room to run watch out this morning and wait till after news to trade
Hi
Hi Harold,
i read earlier where you said that you trade mostly the US session only. If that is the case then aren't you left with 4-6 hours of trading time. Do you think this much time is good enough to find good setups for the 50Fx System.
I live in Canada and for me to trade the European and the US sessions i have get up early in the morning and look for good setups. If the US session is good enough then i can get up a few hours early in the morning and trade.
Best regards
Azfar
good morning i would like to talk about something that many dont quite get yet about trading. with the thousands of indicators out there that we test most seem to work when market is trending right. So what does that tell us well imo the indicator should be used ONLY as a filter for PRICE ACTION thats the only true indicator that tells us where price is going and it is 100% accurate all the time so when watching a chart just look at reponse when price hits pivot levels or fib levels or what ever levels of S/R you are using (to me pivots are the best) sometimes they bounce then consolidate then go threw at these times it allows for a setup just food for thought
i start around 730 est and its seems to give at least 1 signal a day if not dont trade a level 1 on gbp has just be completed from 8397 to next pivot 8368 perfect setup
HaroldFX
DISREGARD: You have answered a similar question from me awhile back....
========================================================
Today, July 14th, the EURUSD and GBPUSD, provided a good short opportunity.
I have a question, and just want to confirm it:
For the EURUSD, there was no signals from StepMA and StepSto from 8:00 AM - 10:55 AM EST. Is that correct? Price had remained under the 50 EMA since start of the session. Would you try to take advantage of this opportunity, and how?
For the GBPUSD, what if one missed the crossing of 50 EMA and the other indicators, would you attempt to still get in or look for other signals? Apparently, for this case, its not going to cross back up the 50 EMA.
Its always sad to see prices keep falling, but not enter into the market....
good question et concerning firstly the euro price was below 50 ema and both step stoc were in sell mode so the market is saying obviously we are short euro so we should look for a good place to enter(the 2 charts i posted below) as for the gbp i personally had that problem today price close to far away from ema and market was in sell mode so see 3 more charts and see how i entered this
Nice Charts
good question et concerning firstly the euro price was below 50 ema and both step stoc were in sell mode so the market is saying obviously we are short euro so we should look for a good place to enter(the 2 charts i posted below) as for the gbp i personally had that problem today price close to far away from ema and market was in sell mode so see 3 more charts and see how i entered this
Hi Harold,
The CatFx50 forum is getting a bit confusing to follow. In the recent past I have found myself adding all sorts of incidators and not really sticking to any one method. I really like your straight forward approach to trading so I've decided to go with your methodology.
I do have a few questions.
1. How do you trade when the price is far above or below the 50EMA? Do you just wait for breakouts or do you use another method? I ask this because very often I find myself just sitting around waiting for the price to return to the 50EMA before I can trade again.
2. I've looked at all of the pictures of the level 4 breakout trades and I still have problems identifying when the breakout is occuring. When you are looking at consolidation is there a certain pip range you consider consolidation, say 20-50 pips and is there a minimum amount of candles you need for it to be considered consolidation?
3. I've hread you say you like it when all of the EMAs (50,100 and 200) bunch together, can you describe a breakout trade when this happens and what to look for?
I hope you stick around for a long time. Thanks for your time help.
Dave
Hi Downunder Good To Hear From You Again If You Check My Second Post Here I Have A Couple Of Charts Showing The Setups Including The Breakout What I Like To Do Is When I Get Up And Price Has Already Made Its Move I Will Go Down To 15 Min Chart And Then To 5 Min To Pin Point My Breakouts Concerning The Emas Bunched Again Post 2 Here Has What It Looks Like I Like It When They Are To Getter And You Get Both Step Stocs Cross While The Price Also Crosses At Same Time The Problem I Have Been Having Is Just That So We Have To Improvise By Moving Down Frames To Get A Better View Of Price Action So We Can See Consolidation Better Hope This Helps