CatFx50 - page 805

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Hi

nina:
Hi. Leightonbeaty!!

Well, you know, I do not jump in blindly. That's why I use Pivots, Shi-Channel... Every trader has his own arsenal. It's worthy too to try to guess "the mood" of a given pair at a given moment. And, of course, if we want to trade eurusd is mandatory to look at USDCHF.

Pivots: when I began this "painfully" journey to try to complement my incomes, I thought Pivots where nonsense. Reality has thought me that the only nonsense here was my stupidity. Pivots count, mate: they truly do.

So, you should always look at them I use FiboPivots (attached). This indicator does not work on Monday. Could anyone arrange it?

Shi-Channel (attached): a great tool. You'll see it. Sometimes they do not pop up on TF5. Switch between 5-15 and 30 minutes.

Good luck!

HI Nina,

this indicator pivot fib now is ok ? can u suggest me for know daily and h4 trading ?

thanks a lot for u r help ,

David.

 

catfx still look good on gbp/jpy

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fxbubba:
I'm reading through this thread and trying to learn all I can about what standard indicators can give the same signals as the CatFx50 indicators but I'm wondering if this community and the brains behind these custom indicators that worked so hard to build this thread and this successful system will be around when the current ones become defunct.

Has this system taken on an audience anywhere else on this site or on another forum?

Thanks!!

I was wondering the same thing...

 
nina:
Hi, Fudomyo!

I'm really glad to know that you are a successful trader. Really glad to know and see that you believe in TA. Happy to know that you believe in trading. I do not want to deceive you, I mean, I do not want you to think the opposite of what I say. I wanna stress once more time that you are going to lose all you have as a retail trader sooner than later.

I do know very goog traders that gave up. No more, no way. They finally realized what they were doing: gambling. Do you know why Casinos invented the double 0 in roulette?

Hi Nina,

I know you are resolved in your beliefs so I hope you found something that works for you and you are happy.

Everything in life is a gamble. A new product launch, a new business, even crossing the street. You can say trading is gambling because the outcome is uncertain. This is absolutely true. But, do you know how many new businesses, artists, athletes, anyone who attempts a difficult undertaking fail versus those that succeed?

The bell curve for success is similar for many vocations.

But for some reason, people think that making money at trading is easier than becoming a successful lawyer or surgeon. (perhaps because you can take trades in the market with no experience or license) But it is a profession like any other, therefore requires a high level of study, experience, and mental acuity to do well.

If you base your trading on a system without the proper market understanding, negative expectancy will eventually overtake your earnings. This is why EAs and most indicators are not reliable for long term success. Markets change and what works one day will not work the next.

Anyway, I really do appreciate your concern, but disagree with your belief that at some point, someday, everyone will fail at trading. It just is not the case. A handful of people do quite well.

This piece in the Wikipedia on decision making comes to mind. It's quite useful in understanding trading psychology and in particular how we sometimes apply attribution asymmetry to our successes and failures.

When people take responsibility and do the necessary introspection when something doesn't work, rather then finding fault in the structure they had trouble succeeding in, they have a better chance of success in the future.

I wish you all the best and a happy and prosperous new year .

Fudo

 

hi everyone, i did not have the chance to read all the previous posts. But i am making some research on this strategy. So i was wondering if someone can help me explaining how the indicators works in the system. Hist Step MA stoch Nina and TSR.

Thank for the help

 

Hi all,

I had my first contact with CatFx50 system more than a year ago here on this forum. Unfortunately I had to end trading forex couple of months ago but now I back on the market.

Nina would you help me a bit in my new start by saying a few wise words?

If you could please comment for example my today trade on EURUSD.

I think your opinion about market conditions will be very constructive for me.

-Position opened at 14.30 GMT at price 1.3601

-New candle above EMA50

-StepMaStoch yellow line above blue

-FA: 14.00 GMT USA Factory Orders m/m, 14.30 USA Crude Oil Inventories and 15.00 USA Treasury Secretary Paulson Speaks

-Support about 1.3594 (pretty strong like for me, appered on monday and tuesday )

-H4 trend line break it may be the first retrace of new downtrend

-Propably one of the tops from M5 uptrend

-Pretty far from pivot support

-Top of the previous candle was a bit confusing to me

-on the beginning made a top on 1.3609 (+8 pips) then a low at 1.3593 (-8 pips)

-USDCHF went in opposite side

I haven't had an opportunity yet to thank you for sharing your ideas so

THANK YOU

Here is the screen:

 

Fudomyo is correct Nina is WRONG

Fudomyo:
I'm sorry to see Nina get so negative about trading after putting so much time and energy in. If you don't like your broker, or feel they are doing something to kill you, change brokers. Forex is tough, but people do make money in it. I checked out the cat system and wouldn't trade it. If a system is just ok, and you are getting bad spreads or slippage from a broker, and scalping for 10 pips, you will lose. Find a decent broker, learn to take longer trades, and practice good money management and you will succeed.

It is very simple. Study candle stick patterns. Learn PA. Learn chart patterns. Use trend lines, fibos, MAs, support and resistance. That's all you need.

Even Bill Williams gave up on OA and went back to the basics.

If you don't understand the basics, no indicator is going to make you a good trader. I use a modified Jurik RSX indicator for verification, but I pick my trades based on PA first. Most of my trades are between 50 and 150 pips.

7 out of 10 trades are good, and the 3 that are bad I keep the losses low.

Trading for 10 pips is a loss because your lot size or leverage needs to be high, you have to pay the spread, and the SL would have to be too tight for proper MM.

I trade lower lot sizes, and use a wide SL (so I don't get stopped out by normal price swings) and ride the trends. No broker can kill you if you work longer trades on the higher time frames at a lower percentage of base.

Anyway, I wanted to post because there are successful traders out here, who ARE making money. After reading some of this thread, I can see why Nina failed as a trader. A bad state of mind was part of it, and not having a good trading method or true understanding of how price action really works was a bigger part. Trading takes discipline, and a lot of hard work.

If you came here looking for an indicator to make you money, that IS gambling. If you have a good understanding of the markets, can read a chart properly, and base your trades on sound analysis, then you are a trader.

It's that simple.

Nina I posted in this thread in 2007 when I first found out that you could make money trading forex. I even paid you for signals.

It is very sad to hear you say "all retail traders will fail" It just isn't true.

There are many sucessful traders on this forum and other forums. I would not be so rude as to name them in your thread but if anyone would like some help they should PM me.

Fudomyo is spot on with his advice.

For me I became profitable after dumping all the indicators and concentrated on trend analysis (pring) and price action at support and resistance levels.

My trading improved again when I moved away from the 15 minute charts and learned to trade the daily, weekly and monthly charts. I can now trade the 15 minute charts even better than before. Good money management is the key to becoming profitable and STAYING profitable.

You never stop learning in this game, three years is no time at all, I am looking forward to how good it will be after five or ten years at this.

I am learning fundis now and am finding combining them with daily, weekly and monthly chart analysis is proving very helpful also.

My advice to newbs is find a good trader / mentor, preferably in a live trading room environment (I am in my fourth live room now, each one better than the last, and know I am in the right place now to take my trading to the next level) . The guy that runs this liveroom has been trading for 10 years and also manages other peoples accounts (loads a money). He is a safe trader a good teacher and is very profitable. Trading can be quite lonely so it is also a very nice place to hang out whilst watching charts.

Nina you are so wrong and I am sorry to hear you have become one of the 95% that fail.

Anyone needs any help or advice PM me.

Good luck in the future Nina.

 

hi

"all retail traders will fail if they did not learn from his mistake "

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Forex Indicators Collection

 

Hi XKR,

I tried to PM you still it seems you don't accept PMs for some reason.

I would like to know more about those live trading rooms, like how do you become a member of one, how they are organized etc etc. It is really lonely to stare at charts all day long all by myself, not even talking about being with people that can improve my own trading skills. Any info appreciated.

Best luck

 
mrv:
Hi XKR,

I tried to PM you still it seems you don't accept PMs for some reason.

I would like to know more about those live trading rooms, like how do you become a member of one, how they are organized etc etc. It is really lonely to stare at charts all day long all by myself, not even talking about being with people that can improve my own trading skills. Any info appreciated.

Best luck

Hi MRV I am not sure why I am not accepting PM's I checked my settings and I have received PM's in the past before, it may be a temporary glitch.

Live rooms are not to everyones taste but they suit me well, I like the company, it's a nice atmosphere and it really helps me focus on price action. There are plenty out there free and by subscription, I suggest you do a search and look for any that offer a free trial and are sensibly priced.

I started out in a free paltalk room, there are hundreds to choose from, had a 10 month spell in the brilliant fx500club after that, but as mentioned in my previous post I wanted to add fundamental knowledge to my technical trading skills.

Anders does a great job running our little community so I would deffinately recommend him. Just do a search for "Anders Baard Larsen" (no affiliation)

Check out any of the above, paltalk is free and the other two have free trials, good luck.

Thank you too forex-tsd, you are a brilliant resource.

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