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  • #21
  • Jul 12, 2010 1:15am Jul 12, 2010 1:15am
Quoting Swamp Owl
Hard to tell, quite many systems work if rules are followed (FxPro, ForexSnipers etc), but they are not perfect. Good and helpful for beginners, later a trader probably moves on and finds his/her own indis and rules.


But if I have to name one - it's free system, CatFX50, Google it.
Morning kdx.

terminex if you want a good rundown of the CatFX system go to EA-Performance.
  • #22
  • Jul 12, 2010 1:16am Jul 12, 2010 1:16am
Sorry made a mistake by posting chart with no commentary, ok the chart I posted in the last post is GBP/USD 4hr, now two of the conditions for the trade are met which are price has touched lower bollinger band and stochastic is in oversold territory, all we are looking for now is to see a reversal candle pattern to go long will keep u updated.
  • #23
  • Jul 12, 2010 1:19am Jul 12, 2010 1:19am
Quoting kdx
Morning Guys.


Ok I'm testing the Forex Powerband Dminator system, Just a very quick breif overview the system uses 3 indicators which are stochastic, bollingerbands and moving averages which are E365 and E200 both applied to close. The trades are taken in conjunction with candlestick patterns, also support and trendlines play a big part if you are looking to get what's called A+ setup otherwise the trades are regarded as B setups. The system does work on anytime frame but its reccomended to be used on the 4hr charts I am howver going to post...
2 very good trader i know swear by this system on the 4hr tf. As kdx says it uses all the basic (and some say essential) trading strategies.
  • #24
  • Jul 12, 2010 1:27am Jul 12, 2010 1:27am
Quoting kraven
Morning kdx.

terminex if you want a good rundown of the CatFX system go to EA-Performance.
Can you post the link?
Have found the system and indicators etc... but not sure where the EA-Performance is.

thanks
  • #25
  • Jul 12, 2010 1:29am Jul 12, 2010 1:29am
I just wanted to show what a trade looks like this is on M15 not sure If I will trade of this timeframe, even if its on demo, but here is a trade thats working.


OK. If you look at this current chart price touched the lower bollinger band 1st criteria met. 2nd criteria stochastics are in oversold zone. 3rd Criteria you have a bullish engulfing reversal, this is good enough for a B etup so entry here at 1.4975 which is close of bullish green candle, stop will be about 15pips below low of engulf green candle which is 1.49.45, ist target is middle bollinger band as we know this changes with price but if we used current price than that would be around 1.4996 at this stage half position would be closed stop moved to BE trade is finally closed when price touches upper bollinger band.

Hope this is clear if anyone for today I'm looking to trade of 1hr charts and above but I will be monitoring 15M also.
  • #26
  • Jul 12, 2010 1:30am Jul 12, 2010 1:30am
sorry this is chart for last example.
Attached Image (click to enlarge)
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  • #27
  • Jul 12, 2010 1:36am Jul 12, 2010 1:36am
GU breakout on news (went through sell breakout line at 1.4976)
Attached Image (click to enlarge)
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  • #28
  • Jul 12, 2010 1:39am Jul 12, 2010 1:39am
Quoting terminex
thanks for that.
http://www.ea-performance.com/forex-...s/catfx50.html
  • #29
  • Jul 12, 2010 2:01am Jul 12, 2010 2:01am
Good Morning all,

First of all, ARRIBA ESPAÑA, I´m from Spain so......I´m happy.
Testing XB Forex V4, E/U and G/U, 30M TF, no cross of MA´s yet, all bearish since Friday, ....
Maybe tomorrow test a smaller TF in order to catch more signals, what do you think Kraven?
  • #30
  • Jul 12, 2010 2:16am Jul 12, 2010 2:16am
Hope you enjoyed last night Caillou, Spain were the better side but haven,t played well in any game in WC. Pouyul still looked world class. in fact it was their defense that got them through...back to trading

TF, what ever you fancy Caillou I'm using 15min today but tomorrow i'll go to 30min if you go to 15 or 5m.

I'm a bit lost on TP's at the moment as the instructions aren't good in regards to them. the 'buy and sell trap' has a SL and TP of 20, maybe this should be applied to all the 'reversal and sell lines' and a colour change for MA line crossover?
  • #31
  • Jul 12, 2010 2:23am Jul 12, 2010 2:23am
Maybe, today I´m in 30M TF, but tomorrow I´ll test 5M TF..... let´s see..
  • #32
  • Jul 12, 2010 2:52am Jul 12, 2010 2:52am
Quoting kraven
Hope you enjoyed last night Caillou, Spain were the better side but haven,t played well in any game in WC. Pouyul still looked world class. in fact it was their defense that got them through...back to trading

TF, what ever you fancy Caillou I'm using 15min today but tomorrow i'll go to 30min if you go to 15 or 5m.

I'm a bit lost on TP's at the moment as the instructions aren't good in regards to them. the 'buy and sell trap' has a SL and TP of 20, maybe this should be applied to all the 'reversal and sell lines' and a colour change for MA line...
today i've decided to use a 20pip SL and TP on the 'reversal and sell lines'. As i've just decided this it means i've missed both GU and EU exits (both +20)
  • #33
  • Jul 12, 2010 2:54am Jul 12, 2010 2:54am
Want to post a possible trade setup, still have almost 5 mins left for current candle to close, but if current candle closes as a railroad ie green candle same size as body of red candle I will enter trade at close of current candle.

Entry around 1.4980-5
Stop 1.49.35
1st Tp would be touch of EMA 365 around 1.50.28 normally this would be middle bollinger band but as the E365 should provide some resistance its better to close here if price touches this level of course at this time stop would be at BE.
Attached Image (click to enlarge)
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  • #34
  • Jul 12, 2010 2:59am Jul 12, 2010 2:59am
I forgot to say that all other conditions for trade have been met I'll post them for ref here again in future I wont do this as time consuming so expect everyone to see trade has been taken by meeting all system criteria.


T/F 1 hr GBP/USD

1. Lower bollinger band touched.

2. Stochastic in oversold

3. Candle currently showing a rail track formation.

This in itself is a B setup.

An A setup will be if we have further confluence ie as price touches lower BB we may have a round number such 00 or there maybe major support at that level etc.
  • #35
  • Jul 12, 2010 3:03am Jul 12, 2010 3:03am
Ok Entered GU as per trade rules at 1.49.84

Stop 1.4934

TP1 around 1.5025
  • #36
  • Jul 12, 2010 3:05am Jul 12, 2010 3:05am
FX powerband certainly seems more interesting/more to it.
  • #37
  • Jul 12, 2010 3:11am Jul 12, 2010 3:11am
Quoting kraven
today i've decided to use a 20pip SL and TP on the 'reversal and sell lines'. As i've just decided this it means i've missed both GU and EU exits (both +20)
Just closed my sell in EU for +20. This may not be correct as guidance for TP when 'breakout line' is crossed is vague. (watch this dive now i've got out....only a trial and demo so i don't mind)
  • #38
  • Jul 12, 2010 3:14am Jul 12, 2010 3:14am
Yes its true I like it bcz there is a lot of emphasis on price action its also quite similar to how I normally trade so I literally picked up system in mins, however if you look at my current trade than I would say its a little risky bcz price is now in a shorterm downtrend we have broken a good support level also broken a key trendline, so in regards to this its tricky bcz some discretion is required and for those that strictly follow trend may find some trades hard to take.
  • #39
  • Jul 12, 2010 3:28am Jul 12, 2010 3:28am
I've exited my GU for -22pips (hit SL). In fairness it hit +20 first but i hadn't decided TP target.
  • #40
  • Jul 12, 2010 3:34am Jul 12, 2010 3:34am
one quick impression is that the Stoch (5,3,3) on this system seems pointless as it conflicts with other signals. e.g. all other signals are turning positive 'long' the stoch will say 'overbought'.
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