what do you define as a level 2 signal? Signals which are out of time or have other "handicaps"?
Level 2: a reenter according to StepMA_Stoch after having made an open against trend (color of step).
On cable, StepMA_Stoch is green and price has made 1 opening below EMA50 at least. If it opens above, 08:00cet today), this is level 2. Market is going back to normal. These level 2 trades are riskier.
Sometimes I do not follow the system 100% because my intuition tells me something else. At the moment the USDCHF is long. StepMA turned into long mode but I do not feel good about it. The EMA-break was yesterday at 21.00 and normally this signal should be a valid level 1 signal.
Does somebody has a long position in USDCHF?
I have not taken any signal today so far. I do not like and I do not feel the market. We are stuck right in the middle of the choppy world. Maybe we have a rush in a two minutes, I do not know. But I'm aside.
Nina, that's good to hear! So I see that it's not the best to follow the signals like a robot.
Tomorrow I take part in a seminar about Fibonacci techniques. Somebody I know is really successful with those techniques in a 60 min and 1 day timeframe. If it is a good seminar (and if I understand it) I will maybe open a new thread talking about calculated entry and exit points...
PS. I always wonder how different FX trading in contrast to stock trading is. I used to daytrade stocks for 8 years and the FX market is so different from it... Today the stocks were pretty interesting and the FX market is not really.
I've said plenty of time, Marbo, that I never trade as a robot. NEVER. I like to feel what I'm doing.
If you wish, tell us about fibos.
good morning guys,
today i am long cable at 1.7436, so far has not decided to go up already, let`s see how it goes.
I've seen that signal too. I wonder what Nina thinks about it because the crossing in StepMA Stoch is very far back.
I did not trade it by the way
Hi at all,
in order to get more familiar with mq4 I programmed my very first indicator: It produces a short sound signal when the next bar close is near. (standard 2 min)
If wanted it also can pop up a message box.
This is useful for me, because during work I am sometimes to distracted (from work) so I cannot watch the charts the whole time. In the result I consistantly have missed some (mostly profitable) signals of CatFX, because I was too late in taking a short look at the charts.
I am not Nina but I don't like to see that the Euro is going down and the Cable tries to move up. I hate these divergences and that is the reason for me to let out the Cable trade. The Euro goes down along a nice trendline. As long as this line is intact I would't take a long trade in these pairs.
thank you!! That's a really useful tool for me too!!