CatFx50 - page 474

[harold4x]

did you close down the trading terminal? after you do that go to the link and click open then the meta editor will come up press compile then save as make sure it goes into indicator file with the rest of the indicators

[Dave1]

Thx, that's worked. Must say, I do like that pivot indicator with those settings, nice and clear.

[JaneFX]

harold4x:
my question is this then how do you know when market is going to move 100 pip?

How do you know that it won't?

Harold, the people in this forum are constantly looking for s good signal system. All the experts seem to agree that the entries are much less important then exits. As a matter of fact it has been proven.

You seem comfortable with your approach of 1:1 Risk Reward ratio since the success of your signal is 85%. It is good that it is working for you and I command you for that but I still have to say that I did not hear a good rationale how you are approaching the exits. All the debates in this thread (and I read all 475 pages) is about the entry rules and hypothetical gains.

I am not suggesting that there is one approach for exits that suits everyone here. I believe mant benefit more in discussing exit approach (not only for cat50 but other systems) than debating filters and entry strategies.

Just my 2 cents. There is no offense intended towards anyone who made this system accessable and devote their time generously educating others

[harold4x]

none taken my entrys are not just based when we have a cross of 50 ema and cross of step stoc only there has to be room from price of entry to next pivot point the pivot point levels are my exits as you call them i call them profit targets my other exit strategy is my 20 pip stop loss so now you have it pivot points are very price action orientated which to me is more of a key than the indicators them selves

[Dave1]

Hi JaneFX, to be honest, exit strategy is at the discretion of the trader. It is difficult to put a figure on an exit. One way of achieving a comfortable exit strategy and one which I use is to determine the number of pips you want before you enter the trade. For example, if you are day trading you might want 20-25 pips for the day, if position trading you may want 75-100 pips. You may decide on MA crossovers to determine your exit. It is highly discretionary and is what you are comfortable with. I believe Nina won't enter a trade if he believes there is less than 15 pips to be gained. Hope that helps.

[JaneFX]

harold4x:
none taken my entrys are not just based when we have a cross of 50 ema and cross of step stoc only there has to be room from price of entry to next pivot point the pivot point levels are my exits as you call them i call them profit targets my other exit strategy is my 20 pip stop loss so now you have it pivot points are very price action orientated which to me is more of a key than the indicators them selves

My hat is off to you if you do not care if you barely get 30 pips or had your 30 pips when the market moved 200 past your profit point.

I do agree with your comments about treating it as a business and not gambling. However, I think not getting advantage of the move is a part of a good profit strategy. I do not like oscilators for the real price action indicator either

[harold4x]

let me make 1 thing clear if price flys by my target i just move my stop to lock in 20 i dont use limit orders for that purpose

[svirgo]

pivot indicator

Where is this pivot indicator you all talking about?

Is that the fibo2 or camarilladt7?

Thanks

[harold4x]

page 241 post 2401

[JaneFX]

harold4x:
let me make 1 thing clear if price flys by my target i just move my stop to lock in 20 i dont use limit orders for that purpose

Harold, of 350 pips Nina posted last week were you able to catch many that the system provided? That is not a trick question. I am just trying to determine wishfull thinking from the reality of professional traders like yourself utilizing a good signal system with a good profit strategy

Thanks