I'm getting tired.
Here you have the core of it. Take profits from it till it last.
As I understand it this thread is created to share the CATFX50 system and to help people to learn it WELL -- not to discuss how to "tweak it" create EAs -- ect ect --
If something works -- why change it ?
Why reinvent the wheel -- if it already rolls successfully, better to learn to use it.
New people come along - they genuinely want to learn the CAT system and they have to wade through hundreds of postings to catch up and learn the system, but soooo many of the postings that could confuse the newbie cause they talk about all kinds of other indicators --
A big danger in the beginning is when the market is choppy and perhaps caused a loss with our system, we want to "tweak it" so the "loss" wont happen again - thats the first step to failure. If the system works, all we have to do is learn to listen to the market and stay out when things are choppy - when NO system will really work anyway -- (AND Nina almost always posts a warning here when things are too choppy, so once again all we have to do is LISTEN).
Please lets LISTEN --
And if there is a need to discuss other things -- it is a simple thing to start another thread.
Meriakre where do you live ?
Is it easy for you to make international wire transfers to other countries ? and if so are there some countries where it is easier for you to send money to and receive from ?
If you can tell us that I am sure there will be some suggestions posted for you
Let me say is just as it is. I want to open a brokerage house. In my country there is only two brokers, one is a bank that has a java based platform that sucks and people can open only standart accounts (no minis), and the other one is based on North Finance data feed but people do not like the cause they do not even have a physical address and some had problems withdrawing their money.
So , please understand me and help me. Does someone of what it takes to fulfill this wish of mine, or at least give me something, anything I can read about it.
Wow, Meriakre, that's a courageous plan. Are you a professional in this business? (I'm not)
I think you need rooms (obviously) and the hardware infrastructure (servers). Then you need software that you either have to buy or make your own. Then you need to somehow hedge against your clients positions, probably this is done on the interbank market but i don't really know.
And then there are probably regulations in your country that you need to fulfill. Special regulations for this kind of business and also the general regulations for the sort of corporation you would choose.
Maybe a good start would be to check what these regulations are in your country, especially for brokers. Then you would have an idea of the requirements.
First, let me thank you for the quick response.
Second. I live in Eastern Europe, and yes I can transfer money all over the world with no restrictions. The rooms are not a problem. That the problem, I am not a professional in this business.
The help I want from you is to tell me what software I need to have where to buy it, what kind of computer hardware is necessary and the most important, how it really works? How does a brokerage firm works?
The regulations in my country are not an issue. Its nothing I cant control. Everything is taken care of.
So, please help!
Thank you very much!
Thank you again in advance!
P.S. I would also enjoy if its possible some inside info!
Makeral, sounds like you have neither the experience or the money..keep it simple...
I am sending you a list of some of the brokers that offer "white labeling" via PM
This is rather off the subject for CAT
May I say there is a difference between changing a system and between improving it. Improving on something is good if it is possible. Some of you may have interpreted my comments about the LWMA the wrong way. I will be the first to acknowlege what a great system this already is and in no way want to change it. Let us be clear in what I was trying to achieve, and that is, to eliminate false signals with the LWMA set at High or Close. That's called improving, if of course, it works. I have not suggested changing the the value of the 50MA have I.
I was the first, I believe, to say 'if it isn't broke don't fix it'
So to be clear, my thoughts on improving the 50MA are genuine. In my book, constructive criticism and suggestions are always welcome.
Forgive me, I have only tried to help avoid false entries by my suggestions. Nothing wrong in that. I'll say no more on the subject.
As per Nina:
But we keep saying "that, this and so on". Learn to feel the market, learn to make catfx50 stronger. When I have a car, I tweak it, but I do not change its engine. It'd be another car if I did.
I will have to agree with the above part about feeling the market. Ever since I joined Forex TSD I've concentrated to learn what experienced traders - like Nina - say about feeling the market.
Of course, we can all change the parameters of indicators to suit our particular taste and mood, but getting that subjective feel for the larger market, that's what will make you a better trader.
I've mostly watched many events and even gotten up early when I didn't have any money at stake, just to watch the market's behavior. I remember a few nights ago when we had a number of false signals, one of the more experienced traders started using his own method for that tightly ranging market...and it was working for him! The next day, when I was presented with a very similar situation, I remembered and took 10 pips using the same method.
Do you folks remember when I kept asking the experienced traders for a definition of "strength." ? It took a couple of postings because I knew it would be an involved subject. However, when they got around to answering, the stream of useful insights was very beneficial and well worth it.
Indicators and settings are a dime a dozen, the real deal is to acquire the trader's vision and feel.
Money, Nina said it in your quote, tweaking the system not getting an new one. That's precisly what I have done. I've just added another 50 LWMA set to High and kept the original.
Hugo_Trader, Nina posts those pip amounts because that is what the system generates. Nina isn't saying we can get all those pips. When we trade catfx, we expect to get some of them. Which is good enough for me, and the others I imagine.