Thanks Milb for the recap.
Ok, mates, you've seen today how CatFX50 gives money.
We had a trap earlier, but then everything were in the money again.
About that trap:
As posted, the mood is $ down. We had pivot at 1.2221 and entry was at 1.2233. Besides that, USDCHF was not breaking EMA50. So, the signal was clear but with all what have been said, a lost here of 34 pips is too much. I lost 10.
I shouldn't have sold. But I did. I should have placed stop at b/e once at pivot, but I did not.
The eur/usd trade you mention was a false trade. Easy to say in hindsight but when you look at the confirming bar it only just crossed the 50ema, the 120 and 169 trend lines where sloping up, StepMA Stock gave no clear indication of a downward move.
When you look at the 1 hour chart (I know this is not part of catfx50 but only for trading discretion) both StockMA lines where almost level, as with the single 30 min StockMA. All this information would have indicated waiting for a more clear signal for going short in this trade in my opinion.
According to Nina, provided the signal bar is no greater than20 pips from crossing the 50ema we can consider an entry (at our discretion) otherwise forget it.
I was watching carefully about movement of eur/usd with other pairs.
I decided not enter go short even though catfx50 showed me a signal,
my filter was
50ema and 120ema was still heading to north strongly
(50 is above 120 and it's degree to the north was so sharp)
usd/chf and gbp/usd did not give me a signal which should back up eur/usd's short.
Beside, pivot level was a huge player at this time, I learned from Nina's comment.
So, I am up to 117pips with usd/chf and gbp/usd now and hold it still for next movement.
Thank you mibl and nina!
I hope this came early enough - as you see it could be next minutes that the bullish flag is dissolved and a new long signal (in catfx too) is created.
hi ted newyork i am originally from ny live in nc now i very rarely trade at 400 am when eur signal came but i also look at chf when trading euro and there was no cross on chf so i wouldnt have taken trade i also didnt enter at the 2263 candle i start 730 to 8am so when a move starts like it did at 530 am i see where 50 ema is and put a entry order in to buy when it gets to within 15 pips of 50 ema so i entered 2256/2258 and closed at 2300 42 pips
Having doubts about this system.
Reason is this: the only reason that any profits are being seen today from CatFx50 is because the reports for USD (PPI, Housing Starts & FOMC) came out on the negative side for the dollar. Had they been favorable to the USD, this system would have probably posted losses across the board.
10:00 cet: Level 1 short @1.2234, made a low @1.2224 (>10:00cet) => could be closed during the 11:00cet candle when HistoStepMAStoch got green and the counter signal was beeing created. Latest close on following contrary signal which should be in the area of the initial stop loss. => -34 pips max. lost (ex spread)
false signal here -loss
11:30 cet: Level 1 long @1.2265, made a high @1.2324 (>20:00cet) => +59 pips maximum range (ex spread)
trade signal was buy - then it went a sell (low @1.2248) for a loss of nearly 20 pips) until the USA reports (and FOMC dovish meeting minutes) came and (luckily) turned it the other way at 14:30cet.
11:30 cet: Level 3 long @1.7713, made a high 1.7811 (>20:00cet) => 98 pips maximum range (ex spread)
[14:30 cet: Level 4 long (possible reentry) >1.7747, made the same high] *)
11:30 cet: Level 3 short @1.2757 (but entry was about 56 pips away from ema50), made a low @1.2708 (>15:00cet) => 49 pips maximum range (ex spread)
[14:30 cet: Level 4 short (possible reentry) <1.2752, made the same low] *)
*) Level 4 are for a reentry, even more risky - need thrength in themovement
The system didn't give a profit -again, its very very possible that only luck did.
The trend for these pairs had peaked and they were reversing (loss) - then -the reports hit and luckily went with the original positions.
The luck of the news today is being counted as further proof that this system works.... but does it really ?
I'm seriously beginning to think that this might just all be a crap shoot just a 50%/50% chance of making anything at all.
**Perhaps Greenspan is right. Maybe FOREX trading is just like called heads or tails in a coin toss.
Ask yourself this:
Had the reports been positive for the USD, would the losses that CatFX50 signaled have counted?
Or would the main proponents of this system have said "don't trade on big news days" and dismissed it all in perfect hindsight.
I know ALOT of time and effort has gone into this sytem, and everyone here is great, but ask yourself if CatFx50 really works for you. Personally, I'm having some second thoughts - especially if the profits today are "counted" as proof that the system works.
Hi, does anybody knows how to remove the text in this indicator?
hi reemul99 i have been trading with the cat50 since jan and have not had a losing week i trade it a little different than nina but thats ok you cant follow a trading system you have to trade a systme firstly there is a 34 pip stoploss secondly the signal you are talking about was super risky because it closed 26 pips over 50 ema even so stop wouldnt have hit anyway i entered when price came back toward 50 ema to within 15 pips then i entered there is no luck involved it all ta if news was good for us theres no guarantee price drops trading is weighing the risk to reward and is it trending or consolidating the patterens were there bull flag etc for a long trade also chf was dropping not rising so in that case no short for euro since they both cant go the same way hope this helps the system make it your own tweak to suit you and trade it dont follow it blindly by the way i entered market 2256 and closed 2300 42 pips profit pick your spots you dont have to take every signal
polo right click chose objects scroll down and delete what you want off chart
My friend Harold, I was refering to the white words in the step stoch indicator. (Step Sto(1.00..., 1.00....) 95.3988 73.2106). any suggestions?
short eurusd ???
remmul you should not take short eurusd today on cat sygnal after monday's move,to risky.You should know that....
Any way there was no signal for long usdchf and gbpusd also i think