eur, cable, chf, which is the weakest usually? ths
Hi The Cat,
Still a good morning, thank you Nina
RE Stochastic_Step_MA and Invereind
Can someone tell me how to get these running on my charts. I saved them as .mq4 files and now can't seem to get a reaction on my charts for entry confirm using Catalonia-Forex-EMA50-System
It looks like there might be an entry on GBP/USD coming up, just beginner though, so I'll wait until it crosses and try to use what weak indicatores I've got to confirm for now - MACD and Slow Stochastic, Rel Strength Index as confirmators
10:02, buy at 1.1937 close 1.1935 -2
10:02, buy at 1.7518 close 1.7484 -34
09:36, sell at 1.3119 close 1.3115 +3
I quit all positions because of unlogical eur/usd and gbp/usd, because eur is on buy and gbp on sell.
On gbp so big loss because of my bad discipline, i hurry my self up and opened position before signal. And at the end signal does not show.
Hi passass, hi Nina,
look at this trades and you'll see that it is another thing to trade CatFX in realtime than to look an hour later at the chart and say afterwards - yes this was a good chance and it could have been xyz pips.
Unfortunately it is not so easy it looks like - because of the main thing: Traders often do not have discipline - that's because you must decide in realtime - now! - just at this seconds!.... And so sometimes you decide the wrong way.
I took this risky damned cable long too (risky because StepMA_Stoch was long, Histo not yet, IND Inverse shortly before long - but EURUSD was long too) and .....
No discipline because of
a) this risky entry you and
b) you could see that the setup quickly changed to short afterwards.
But the real short signal was IMO at the closing of the 9:30 cet candle at 1,7483 (your time above is cet+1) and I think this itself was a level 2 signal too.
... and I took this EURUSD long. This was a additional confirmation for me to enter the Cable long.
Nina: What is discipline in this case? Nevertheless I agree with you - discipline is a very necessary point fo a profitable trading strategy. But it is a tightrope walk between discipline and discretionary decissions.
And see it that way: If you want to find reasons that you need not to trade, you will find them: The 80/20 points mentioned by marbo, outstanding pivots, supports, trendlines, fibos, ...., other indicators .....
So losses will occur when you trade - even with catFX - you need additional money management issues when you want to survive them.
--> Be careful traders (beginners and professionals) - trading CatFX in reality is not so easy as it looks like! You need a kind of stomach feeling (translated german figure of speech
(enough allocution, ready for the next trading signal...)
Are we in with the EUR USD and USD CHF right now or is it too risky because of the news coming out soon?
I take it to be the latter and that it would be wiser to wait until after 1600 today before instigating a trade.
Now I see a viable long position on the EurUSD so I would buy here. Is that correct good use of the system?
thanks - H
Upcomming short in EURUSD,
corresponding long in USDCHF
cable seems still short
on open of next bar - I'll wait until 14:30 cet (additionally think at the US unemployment claims)
EDIT 14:40 cet: luck - claims are worse than expected.
Nice effect on the StepMA_Stoch. At 14:20 in EURUSD it was on the line (same values for both lines)
Now there is no cross / on the line any more!
So had luck waiting until the US-news in addition with the EZB-News * I was not disciplined and hesitated --> and saved money.
Hope now that the level 2 signal (EURUSD long at 1,1941/43) will work
what i have done to add filters to my trading is add 100 and 200 emas so when i get a cat50 signal i want to see where the price is compared to the ema on 4hr and daily charts to see if there is enough room to go. emas are nothing more than moving trendlines i also see where they are in conjunction to fib pivots levels this way i know where support and resistance are very important in trading .i also while playing around discovered that bunny signals that happen at same area of cat50 signals become a super signal so my trading style is the cat chasing the bunny see chart also take a look at far right of chart forgot tomark but another cat chasing the bunny signal
came back on EURUSD
meanwhile R1 (60) reached --> realized 17 pips, 1. portion
R2 (80) were reached --> realized another 37 pips, 2. portion
rest will walk with trailing stop (25 pips).
same signals on the other side on USDCHF * but didn't trade them because of double risk.
This was a bad trade not validated by CatFX50. There was no signal.
The only right signals till 12:00cet were the ones I posted. And EURUSD in any case hit stop of 34 pips.
and I took this EURUSD long. This was a additional confirmation for me to enter the Cable long.
We are humans, friend, therefore we hesitate, we doubt, we sweat and so on. Our greed and fear moves the market: greed and fear. Avoid discretionary decisions. You say: as eurusd is long, I buy cable: WRONG, WRONG, WRONG!!!!!!!!!!!!!!!!!
If we have signals, we have signals. If we look at charts, we look at charts, otherwise we bet.
I said something about correlation between pairs above.
The same kind of stomach feeling that you need when trading whatsoever system. You pull the trigger, mate.