CatFx50 - page 352
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Hi!
Today's Recap:
EURUSD, level 4 buy at 1.2706 or 1.2715 or 1.2723. Made a high at 1.2765.
+ 59 or + 50 or + 42.
USDCHF, level 1 buy (10:30cet) at 1.2310. Made a high at 1.2316. Lost of 34 pips. (I know, I know we had pivot 1t 1.2316 and it was topping aqll morning there, but signals are signals.)
USDCHF, level 4 sell (14:30cet) at 1.2287 or at 1.2266 orat 1.2242. Made a low at 1.2213. + 74 or + 53 or + 29.
GBPUSD, level 1 sell (11:30cet) at 1.8481. Made a low at 1.8478. Lost of 34 pips. I know too that we had pivot at 1.8471.
GBPUSD, level 4 buy (14:30cet) at 1.8516 or at 1.8549. Made a high at 1.8622. + 106 or + 73.
Lets take the lowest of all options:
TOTAL= + 76 pips.
Nina
i was just reading
on another thread someone whining that catfx doesn't have an exit strategy. Give me a break! Please. there are a million different ways of deciding when to get out. do some modeling and you can devise a decent strategy in a half an hour. just playing with indicators on your screen. but knowing when it is a good time to enter the market why thats the hard part.
have a good weekend all
on another thread someone whining that catfx doesn't have an exit strategy. Give me a break! Please. there are a million different ways of deciding when to get out. do some modeling and you can devise a decent strategy in a half an hour. just playing with indicators on your screen. but knowing when it is a good time to enter the market why thats the hard part. have a good weekend all
Hi, mcsqueeze!
Yes, right, it is true. And?
That's it.
Yes, that's what I think. But we want more: all we want are free pips and go to Fijis.
You know, last Friday, for instance, you could have made a lot of pips with our levels 4. But we want more.
Anyway, CatFX50 is not a mandatory system. Let people do whatever they want and let God be with them.
I have posted Nina's levels too. They are accurate. People knew well in advance what was the mood of the market. Ellioticians were saying the opposite. Ok, judge yourself.
As people do not appreciate those levels, I will charge now for them or I will not post them anymore. The same I did when I post daily charts warning about the cross of EMA50 and EMA200.
Nina
Hi Nina,
Don't be put off by the odd comment. I would argue that 99.9% of traders of this thread are grateful to you for sharing your experience and professionalism (that goes for other experienced traders sharing their knowledge on this thread).
Just a small but significant comment regarding exits and entries:
You Don't Loose Money On Entries But On Exits
What does that suggest
Complaints --
Just a quick comment for any who are complaining and perhaps don't understand some of Nina's levels ---
1. Exits -- if you don't know, lock in some profit and take it -- even with 10 pips you are obviously more ahead than you would be without the help of this thread.
2. You don't understand Levels 3-4 -- take Levels 1-2 for now and keep studying.
Do these 2 things and your week's total pips will STILL be WAY more than it would be if you tried to work alone (obviously).
Keep up the excellent work Nina and team -- and once again
THANK YOU!!
@Nina - Professional Trader
Hi Nina,
Im newbie.. and you are pro trader. just don go away because some of the comment. I like u and have read all the post here. and just practice those method. Yup and i like your warning or guide about market movement everyday.
So plz be here.. we newbei and those all trader need you. We are @Nina Fan
Best Regards,
clixkers
MALAYSIA
Hi to all experienced traders:
I posted a question about the meaning of the term "strength," as used by Nina. I'm asking again for help in understanding the way Nina arrives at that term.
Reading most of the indicators is a straight and simple matter, some of them even have alarms that make a sound when an important event happens. However, the way I see things is that the greatest challenge to becoming a successful trader is developing an "educated gut instinct."
The insights of the experienced and successful traders is worth gold, that's something that can't be found on any indicator! The subjective criteria, or "personal system" used by many good traders is what separates them from the others....it's also been the hardest to explore. Most of the times I've asked, my question has been ignored. Oh my, what to do?
I'm going to continue patiently asking all experienced traders reading this thread to teach us more about how you arrive at those insights, to please "let your hair down." Come on guys, we're all here to learn, show us a little more of the stuff that's not written in any books and thanks!
moneyline
Weekend Preparation for Next Week
No I am not talking about studying charts etc --
Most of us know that 90% or so of the key to success in Forex (as it is in anything else) is our ATTITUDE --
In a sense "its so much in the mind" --
Here's a site where you can listen (for free -- and I am NOT an affiliate or anything) to an EXCELLENT presentation on preparing our minds for riches.
http://www.secretsofthemillionairemind.com
Register for free to listen to the teaching -- excellent !!
All the best for success for all
Kiwigold
Hi to all experienced traders:
I posted a question about the meaning of the term "strength," as used by Nina. I'm asking again for help in understanding the way Nina arrives at that term.
Reading most of the indicators is a straight and simple matter, some of them even have alarms that make a sound when an important event happens. However, the way I see things is that the greatest challenge to becoming a successful trader is developing an "educated gut instinct."
The insights of the experienced and successful traders is worth gold, that's something that can't be found on any indicator! The subjective criteria, or "personal system" used by many good traders is what separates them from the others....it's also been the hardest to explore. Most of the times I've asked, my question has been ignored. Oh my, what to do?
I'm going to continue patiently asking all experienced traders reading this thread to teach us more about how you arrive at those insights, to please "let your hair down." Come on guys, we're all here to learn, show us a little more of the stuff that's not written in any books and thanks!
moneylineHi moneyline and others,
unfortunately it is not so easy to earn money at forex or any exchanges. Think about that: When earning money here would be so easy, why this thousands of employees in the investment banking firms (banks), who learned that business - why they would not make their own thing? Why are they employees for many many years....?
It is very important that you concentrate on following the markets. Try to understand the correlations between the pairs, between the news and the pairs and when and why the pairs move..............yes, that is exhausting. But I think (only my slight opinion): This is the only way to survive.
As Nina and I tried to show, when the crowd will have USD down that will come - even if the news show another picture. We had a lot of not so good news for EUR or GBP. Nevertheless EUR and GBP grew. We had at friday NFP which weren't as good as the market was willing to see them positive. => EUR and GBP grew.
Why? Forex is in the hand of some big players (10 big worldwide global banks handle >65% of the volume of forex). Nina calls them "big pockets". If they want USD to go south they have the power and the strategies to do that. Only when the news are so good that this cannot alleviated the market because of they do not agree anymore. The big pockets define the scale of the news reaction, they act like a "filter" (we heard that in other cases in the thread)
But that only can hold for some time - even the big pockets cannot avert the real business trends.
See the growing trade balance deficit of the USA. See the beginning growing european market. But these are impressions now, Sunday 0:10 cet I do not know how the european market will look like end of the year or in two years, I do not know if the trade bal def. of the USA will be shrinking the next time, I do not know if Iran will be attacked in the future, ....
I trade since 2000, part time besides my job. First mainly on german equity markets. The last two years I switched to forex. If trading would be so easy, I'd cancelled my job and switched. But, looking at the charts and winning some additional money trades (as part time or hobby trader) is much different from doing this to earn a living for me and my family. Here it is a must to be durable profitable on the long run, making >100.000$ each year, under each personal conditions (emotions, health, fitness, risk readiness, ...)
It is a really hard work to follow the markets and earn money on the long run. Yes - it could be that there are some high achievers - but they are very rare...
What is strength?
This is even as difficulty to answer.... Look at the EURUSD daily chart. What you see at the right side of the chart is strength. Broken upperline of the trend channel, broken long down trendline starting jan 2005, with long daily candles.
Look at the right side of the GBPUSD daily chart - what you see is strength.
Would this keep moving at this kind? I think no (less probable) - not in one move - we had that never in history. There will come a retracement, but afterwards we will see if it goes further or if this only was a short rebound in a downs move.
You can see strength in how the pair is dealing with support/ressist., trendlines - will it need a lot of warm-ups or will they be broken after one, two or three tests.
You can see it in the number of successive candles with the same colour.
You can see it in how often, how long and far the price retraces after a move in the strength direction.
You can try to measure strength by indicators like MOM or RSI. They are nothing others than another view on the price.
But what will happen on monday? Fu....., we do not know it! Will the increase of eurusd and gbpusd hold on? Perhaps yes...., perhaps we will have a retracement. If we have a retracement, the kind and charecteristic of the retracement will show us the probabilityof another upmove or if the pairs will turn.
That's technical analysis. It ist very important to read about that (books, books, , ...) and to try to understand how to apply the (probability) rules to the charts before you even invest one EUR, GBP, YEN, AUD, USD, ...... of your personal money - anything else will be like to go to the casino...........
I'm sorry, there is no patent formula to get rich at forex, but at all events there is one to loose....
mibl
Hi Mibl,
I deleted anina.mq4, anina.ex4, and a lot of indicators that I no longer look at. I downloaded the version from post 3317 (that was the version I had) and compiled it and I still get the exact same results. My setings are: 10, 1.0, 0, 9000, 0, 50 and I have over 10,000 bars in the chart. I am attaching charts of longer term 30m so you can see where the crosses are and the differences between euro and chf. The data looks okay. I don't know the math inside the indicator but it seems like it made a wrong calculation and has stuck with it. Just guessing though. I may need to delete the historical data file and reload it. I appreciate your help on this.
frayedHi frayed,
sorry, I think I do not know what is the problem. All "standard" problems with the indicators you had verified now. Seems to be something wrong with the historical data.
As I followed MT4 differs between the historical and the current data in a chart. I think about 14 days back the historical dat begins, but I am not sure - other MT4 prof. should know that better.
The HistoStepMAStoch seems to work correct and this is just another view on the same data.
You can just try to narrow down the problem. When I had the problem I would first try it with a fully new chart. The perhaps delete the history files, the perhaps reinstall the MT4.
Sorry that I cannot help you more, perhaps another person has more MT4 experience andcould help here.
mibl