CatFx50 - page 77

LazyPawn
11
LazyPawn  
nina:
Hi, LazyPawn!

You are not undermining anything.

For me, as said at the very beginning, it is mandatory to have a good entry. CatFX50 gives it. Now, we need a documented exit. You do not go to war (well, Bush does) without an exit.

We have now new Juice with "average filter" and soon we'll have a new Fisher with upper and lower bands.

Let's wait, but if you have an idea, just post it.

THX.

Nina

Thanks Nina. I agree.

Here's what I found out so far that can help us with exits: the entry is almost always good for a 10 pip win, but if we are trying to get more it becomes "random". Sometimes we get 30, or 50, or even 100, but some other times the price drops back after a few pips to the 50 MA and moves in the other direction. It seems to me that aiming for larger targets is risky, even if we use multiple lots, the 2nd and 3rd... can get stopped out.

But if we take a 10 pip target with a 20-30 pip stop loss, from my calculations the system performs very well. I know that 10 pips sounds almost like scalping, but it's not. If we follow exactly Nina's entry signal, we get +10 pips about 6-8 times more often than we get -30. So, out of 7 trades we could have 6 winners (60 pips) and 1 loser (-30). Overall a nice expectancy! It's also easy because you don't have to watch other signals for exit, or manage multiple lots. Just put your SL and target from the start and relax.

I started to use this system on a demo account using this "scalping" technique which looks good in backtesting, now let's see how it performs in forward testing. There is no point in saying that 10 pips is not much, because you can enter a larger position size to make it as many dollars as you want. I know that my suggestion is one that most people will dislike, because it's so nice to see those long runs for 100 pips and more... but if you wait for those runs you also lose a lot more often and the expectancy seems to be worse. Please take this only as a personal observation, it can be wrong - feel free to experiment and test your own strategies.

nina
2768
nina  

Hi!

Today, CatFX50 has given nice pips again (hypothetycally).

I think that CatFX50 has proved it gives gorgeous entries.

I think somebody else could take the lead now and could post the daily recap.

THX.

Nina

nina
2768
nina  
LazyPawn:
Thanks Nina. I agree.

Here's what I found out so far that can help us with exits: the entry is almost always good for a 10 pip win, but if we are trying to get more it becomes "random". Sometimes we get 30, or 50, or even 100, but some other times the price drops back after a few pips to the 50 MA and moves in the other direction. It seems to me that aiming for larger targets is risky, even if we use multiple lots, the 2nd and 3rd... can get stopped out.

But if we take a 10 pip target with a 20-30 pip stop loss, from my calculations the system performs very well. I know that 10 pips sounds almost like scalping, but it's not. If we follow exactly Nina's entry signal, we get +10 pips about 6-8 times more often than we get -30. So, out of 7 trades we could have 6 winners (60 pips) and 1 loser (-30). Overall a nice expectancy! It's also easy because you don't have to watch other signals for exit, or manage multiple lots. Just put your SL and target from the start and relax.

I started to use this system on a demo account using this "scalping" technique which looks good in backtesting, now let's see how it performs in forward testing. There is no point in saying that 10 pips is not much, because you can enter a larger position size to make it as many dollars as you want. I know that my suggestion is one that most people will dislike, because it's so nice to see those long runs for 100 pips and more... but if you wait for those runs you also lose a lot more often and the expectancy seems to be worse. Please take this only as a personal observation, it can be wrong - feel free to experiment and test your own strategies.

Hi!

If you take 10 pips in the majority of your trades, you are going to be rich.

Test it live and let us know.

Nina

Ader1
29
Ader1  
nina:

You do not go to war (well, Bush does) without an exit.

Nina

That made me laugh. And as they say, ''many a try word spoken in jest."

Good night .....

mustbecrap
17
mustbecrap  

Dont be greedy

Hi guys,

I don’t normally post on these forums as most people on many forums are full of it

My two dollars worth isn’t much, I have been trading for about 3 years and lost everything twice, and am now trading with pennies, so my input may not mean much. However, I think there are a couple of points in this thread that we need to think about.

Nina has been for some time, and is, trading this LIVE, not just on a demo…. Which got my full attention quickly, Live, Live, Live, you cant ask for more then this….

Exit, yeap that is the key to the market…. Most of us and I could be bold to say 80% of us will get direction right 80% of the time… I always have, but 90% of the time we will let profits ride and accept a lose when we could have taken a small profit. I know because two bank accounts later and human greed screwed me over. 10 pips, not much, but I agree that its enough to provide a life style.

Exiting will always be an issue and using a step procedure of closing out part of your position at pre-determined pips is one of the keys to the market.

Should we be looking for a good exit, or should we focus on as Nina has pointed out the entry, should we focus more on when an entry is more probable, which comes back to what Nina has mentioned time and time, having a feel for the market….

I am going to spend some time on employing some of Larry Williams and Dinapoli methods to this system for exiting or staying in the position, I will post if I find them useful.

mustbecrap
17
mustbecrap  

pivots

hi,

another small point,

Pivots, what a load of crap, or so I thought, they were ignored by me until very recently, why did I get so many good trades reversing or stalling for no reason, daily and weekly pivots hold some of the keys to successful trades. And its by no mistake that Nina uses these in this system and in her trading.... And it rehighlights once again the importance of this very old tool.

yeah I know what some of you are thinking, what a dumb arse, why didn't I take note of this tool long ago... The holy grail, thats why.... I was searching for it, and a tool with a basic mathematical eqasion as pivots to me never rated my interest.... I am impressed an not surprised that nina uses pivots.

Hundsbua
6
Hundsbua  
nina:
Hi, LazyPawn!

You are not undermining anything.

For me, as said at the very beginning, it is mandatory to have a good entry. CatFX50 gives it. Now, we need a documented exit. You do not go to war (well, Bush does) without an exit.

We have now new Juice with "average filter" and soon we'll have a new Fisher with upper and lower bands.

Let's wait, but if you have an idea, just post it.

THX.

Nina

Hello Nina

Nice system! Thank you for sharing it.:)

Can you please tell me when the "new fisher" is availabe? I observed the old fisher indikator but it changed the former values I Hope the new one dont have this bug

Best regards

Anthony
256
Anthony  

Hi all,

I guess I'll add my 2 pips worth...This is going to sound like a rant, but that's not my intention. Well, here goes....

By now, we should all understand how to enter using the CatFX50 entry signals. Entry isn't the problem. Money management and exits are the problem.

Nina posted her system, and I call it a system, because for her, it is a system. Based on her experience, she's able to take the good entries that CatFX50 provides and combine them with good money management and exits based on her Discretion. She may use Fibs, S/R, Pivots, and other TA to help determine when to exit, but in the end, she's using her experience to exit the trade. My point is that, for most people, CatFX50 will never be profitable in the long run. Most of the "systems" posted on any forum will never be long-term profitable. Why? Because most people don't know how to trade, they only know how to watch an indicator and do what the indicator says.

Please, nobody take offense at my post. I throw myself into that lump of 'indicator watchers'. I'm still a very new trader, but I'm learning that trading isn't about mechanical systems, it's about learning to trade. I said above that I believe most people will never be profitable with most of the "systems" posted on forums. The counter-side to that is that I think many of the "systems" posted on forums could be profitable, if everyone would just stop trying to make everything 100% mechanical, and use a little discretion. By discretion, I mean using trend lines, S/R, pivots, price patterns, and, most importantly, price itself, to make an educated decision as to what price might do next. Don't blindly follow an indicator just because the "system" says you're supposed to.

Here's another observation: The two deadlyist words for new traders (forex traders) are SYSTEM and "Expert Advisor". To a new trader, a system implies specific, mechanical rules for entry and exit, and hopefully position sizing. New people don't want to hear about discretion, they just want rules. I know, I've been there. EAs reinforce that by requiring us to have every entry and exit signal spelled out perfectly. They require rules. New "traders" don't learn to trade, they learn to become "filterers", adding more and more indicators to try to filter out the bad signals and keep the good ones. When their filters are "perfect", then they can create an EA. Well, that is, until the next "super system" comes along.

Sorry for getting off track. Getting back to CatFX50... as has been stated by others, the next step for the CatFX50 system is to find a way to exit profitably on a long-term basis. Just remember, the best exit to use more than likely won't be a purely mechanical one.

Ok, I'm done. You all have permission to yell at me if you want.

Keris

mangman
118
mangman  

I would like to say Amen to that.

I know Keris from another forum that is dedicated to building fully automated forex systems. Infact, the person who developed the TSD EA is from that forum. It has some of the best programmers and brightest people on earth. All of us who have tried to develop purely mechanical systems have realised that they are not profitable in the long run.

Dr. Alexander Elder, the person invented TSD, talks about what Keris mentions in the above post.

Trading is not an exact science. It is more of an art than most people seem to realize. It is a skill only 5% of the traders have mastered in order to be consistently profitable.

PIPPIN AIN'T EASY

Mangman

Audio
148
Audio  
keris2112:
Hi all,

I guess I'll add my 2 pips worth...This is going to sound like a rant, but that's not my intention. Well, here goes....

By now, we should all understand how to enter using the CatFX50 entry signals. Entry isn't the problem. Money management and exits are the problem.

Nina posted her system, and I call it a system, because for her, it is a system. Based on her experience, she's able to take the good entries that CatFX50 provides and combine them with good money management and exits based on her Discretion. She may use Fibs, S/R, Pivots, and other TA to help determine when to exit, but in the end, she's using her experience to exit the trade. My point is that, for most people, CatFX50 will never be profitable in the long run. Most of the "systems" posted on any forum will never be long-term profitable. Why? Because most people don't know how to trade, they only know how to watch an indicator and do what the indicator says.

Please, nobody take offense at my post. I throw myself into that lump of 'indicator watchers'. I'm still a very new trader, but I'm learning that trading isn't about mechanical systems, it's about learning to trade. I said above that I believe most people will never be profitable with most of the "systems" posted on forums. The counter-side to that is that I think many of the "systems" posted on forums could be profitable, if everyone would just stop trying to make everything 100% mechanical, and use a little discretion. By discretion, I mean using trend lines, S/R, pivots, price patterns, and, most importantly, price itself, to make an educated decision as to what price might do next. Don't blindly follow an indicator just because the "system" says you're supposed to.

Here's another observation: The two deadlyist words for new traders (forex traders) are SYSTEM and "Expert Advisor". To a new trader, a system implies specific, mechanical rules for entry and exit, and hopefully position sizing. New people don't want to hear about discretion, they just want rules. I know, I've been there. EAs reinforce that by requiring us to have every entry and exit signal spelled out perfectly. They require rules. New "traders" don't learn to trade, they learn to become "filterers", adding more and more indicators to try to filter out the bad signals and keep the good ones. When their filters are "perfect", then they can create an EA. Well, that is, until the next "super system" comes along.

Sorry for getting off track. Getting back to CatFX50... as has been stated by others, the next step for the CatFX50 system is to find a way to exit profitably on a long-term basis. Just remember, the best exit to use more than likely won't be a purely mechanical one.

Ok, I'm done. You all have permission to yell at me if you want.

Keris

BRAVO!BRAVO! AT last some one step out from the croud , is it diamont belt and dragon zozro ? to be cont