From your experience, what's the typical value of maxiumum favourable excursion? I think the average maxiumum theoretical profits by CatFx50 could be used as a good refreence point for exit. For example, if you say most of the time CatFx50 level-1 should generate 30-40 pips profits, I could then set the takeprofit level to about 35.
With the "maximum favourable excursion" I show up the widest distance a pair had made from entry point of the signal. Take a look back - search on the recaps, so you can see what is real and reachable.
I recommend as Nina does to scale or focus on a specific target. We have many signals in the target area of 20 pips, 40 pips and some over 100, but unfortunately I have no statistics for that. And you never know in advance if you are in the small or in the larger move.
If you try to make a statistic for the thread readers this would be great.
Level 1 GBP
Hi harold4x, at what price did you get in? Market moved fast cz news release in US, my buy was requoted from my broker.
could be a thing of data feed - but my open was at 1.8822 and EMA50 was at 23
I looked at it at the time and thought- yeah that could be opened above but it was only just and the further up the candle went the harder it was to see as the ema was bending upward.
though it closed 1 pip above it did in fact open 1 pip below but i entered 29 high of that closing candle a little deviation from rules but there was a rush plus all 3 ste stoc were crossed at say time so it looked like a safe trade plus the news helped
Do you use the indicator Hist_StepMA_Stoch_KV1_Ex_02?
Bar after croessing 50 EAM open with more than 20 pip away.
Now price came down and next bar is opned is still above 50 EAM and with in range ot 20 pip . down indicator are valid for long . Is it a valid TRade as per rule
I have a small confusion is the entry ruly to applied only to bar just after the crossing bar ot can be applied to any bar after crossing till din not crossed other side.
pls can any one clarify this.
My understanding is that you take the first bar open that matches all of the requirements, so it could be the 2nd bar or third etc but if stochs are not green , filter 20 pips then no trade - eventually you run out of CET trade time.
Like to hear from the seniors on this one....
Sorry need context I am talking about level 1 & 2
i dont use histo bars they are the same as step stoc 10 1 with the arrows
There is no rule for that, because normally you should have decided to trade this (riskier - because >20 pips away) one.
But if you now have the chance about one bar later to get in to a better price and the general catfx-setup did not changed - why not?
It would be different if you wait another amount of bars - but then the conditions on the setup would changed anyway.