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my system of 20 pips

  • #321
  • Sep 26, 2014 3:25am Sep 26, 2014 3:25am
Quoting Blackeagle
{quote} To be honest, I do not think that is the case, at least for me. Regarding my above question "sell becasuse of A or B", actually it is not that important because let's say it is because of B (if it is A, my argument is still valid), the price touched 12740 six times before your entry and if you entered at the first four touches, you would be stopped out. So can anyone who knows how to enter give me a logical reason why you skipped the first four 12740 touches? Do not tell me the Asian session story, I can show you many trades Cate took last...
Hello, Blackeagle!

I'm not sure which four touches you exactly mean, but are sure that SL with 20 pips would be hit?
Even if yes - well, nobody said it's a method with 100% win ratio.
I think some of you don't understand how Cate ended every day with profit, right? No, it's not because he doesn't have losses - he has them too. It's because he manages his losing positions till the profit cover all the losses. To understand how he does it, you need to discover post #27 (http://www.forexfactory.com/showthread.php?p=7751973#post7751973) - it took me about 10 minutes to figure out by myself.

Cate, if I need to shut up, let me know - I will not say anything more ))
Just wanted to shed some light for those who are trying to understand..

Artem
Let's go with the flow
  • #322
  • Sep 26, 2014 3:32am Sep 26, 2014 3:32am
Quoting catextract89
{quote} yes your opinion is correct. i use my experience in forex as somehow to filtered the trade. but the entry will be the same rule every time. since most of the trader here figured out the entry thing, that is how i enter the market with consistency level. i only trade at .20 level. and look to the left to predict what the market will do at the current level. will it pierce through? will it not? if yes, i put my pending order there. if it TP, good. if it SL. i manage my trade to make sure i always endup with positive balance.
@catextract89 said he only trade @20 levels.

Not @00 or 40 60 80 ...
  • #323
  • Sep 26, 2014 3:34am Sep 26, 2014 3:34am
Quoting msdogan
{quote} @catextract89 said he only trade @20 levels. Not @00 or 40 60 80 ...
No, he meant every .20 level.

Check the thread - it's been told many times.

Artem
Let's go with the flow
  • #324
  • Sep 26, 2014 3:34am Sep 26, 2014 3:34am
Quoting artem_t
{quote} Hello, Blackeagle! I'm not sure which four touches you exactly mean, but are sure that SL with 20 pips would be hit? Even if yes - well, nobody said it's a method with 100% win ratio. I think some of you don't understand how Cate ended every day with profit, right? No, it's not because he doesn't have losses - he has them too. It's because he manages his losing positions till the profit cover all the losses. To understand how he does it, you need to discover post #27 (http://www.forexfactory.com/showthread.php?p=7751973#post7751973)...
this is right. spot on.

did i say i never loss? no. i said i have loss. but manage it until at the end of the day, the balance will be positive.
artem_t discover how i manage my loses first, then how i enter the market. respect for you.

all the picture i posted are an example when to take a trade. why to take that trade. a HINT. so that the other trader can enter a trade just like me. with the same reason.

what if the trade go to SL? then manage it. this, only one person in this thread has figured it out.
  • #325
  • Sep 26, 2014 3:36am Sep 26, 2014 3:36am
Quoting msdogan
{quote} @catextract89 said he only trade @20 levels. Not @00 or 40 60 80 ...
a multiplication of 2 level
sorry for the confusing.

so, .00, .20, .40, .60, .80
  • #326
  • Sep 26, 2014 3:39am Sep 26, 2014 3:39am
Quoting FXAction
Cate, Whats your thought on the eujpy short? {image}
i suppose this go to SL right?

now, have a look at post 27. figure it out. this is lesson 2.
  • #327
  • Sep 26, 2014 3:40am Sep 26, 2014 3:40am
Quoting FXAction
AU long {image}
this is doing well. hope it TP soon.
  • #328
  • Sep 26, 2014 3:40am Sep 26, 2014 3:40am
@catextract89 how long have you been using that method ? Have you looked several years ago if it Works or not ?
  • #329
  • Sep 26, 2014 3:49am Sep 26, 2014 3:49am
Quoting msdogan
@catextract89 how long have you been using that method ? Have you looked several years ago if it Works or not ?
stated in the post that i found it on sept 2014.

have a look at post 15. i mention about it
  • #330
  • Sep 26, 2014 3:52am Sep 26, 2014 3:52am
[quote=catextract89;7763881]{quote} this is doing well. hope it TP soon
Thanks... Profit taken
  • #331
  • Sep 26, 2014 3:54am Sep 26, 2014 3:54am
hi cat, i sent u pm, i know u already reach your PM limit
Closer To Dream
  • #332
  • Sep 26, 2014 3:57am Sep 26, 2014 3:57am
[quote=FXAction;7763915]
Quoting catextract89
{quote} this is doing well. hope it TP soon Thanks... Profit taken
Good for you!

can you post the pic of the trade?
  • #333
  • Edited 4:20am Sep 26, 2014 3:59am | Edited 4:20am
Quoting artem_t
{quote} Hello, Blackeagle! I'm not sure which four touches you exactly mean, but are sure that SL with 20 pips would be hit? Even if yes - well, nobody said it's a method with 100% win ratio. I think some of you don't understand how Cate ended every day with profit, right? No, it's not because he doesn't have losses - he has them too. It's because he manages his losing positions till the profit cover all the losses. To understand how he does it, you need to discover post #27 (http://www.forexfactory.com/showthread.php?p=7751973#post7751973)...
Thanks for the reply. If you please look at the last chart I posted with A and B, after candle B, price touched 12740 four times. Those touches are the ones what I am talking about (and you were stopped out at any one of those entries). Re. 100% win ratio, no one is expecting such a thing. But when someone claims finishing the day ALWAYS positive with a discretionary entry, that's when you need to question the entry method and if it is explained as "experience", "feeling", "prediction", then there is a problem, IMO.

No offence to anyone, I am just trying to understand the method and broaden my horizon with new information available here. But if you base your trades on "history repeating itself", I can find as many false entries as like those four touches. Look at my post #288. Can you explain why you don't enter at A?

Re. your statement "It's because he manages his losing positions till the profit cover all the losses.", you can do so such as post#27 if market moves 250 pips in one direction in a couple of days.

Anyway, I tried to contribute as much as I can. At this point I must say I have an idea re. how to enter but to be honest, since entry is discretionary in nature, I do think that anyone trading this strategy will have different results than others. Yes, we can determine which levels are more important or tradable than others by the information we already have, when to enter is a totally different story.

Good luck all with the method,
Regards,
Blackeagle
  • #334
  • Sep 26, 2014 4:06am Sep 26, 2014 4:06am
[quote=catextract89;7763927][quote=FXAction;7763915]{quote} Good for you! can you post the pic of the trade?[/quote
Catex, here is the picture of the au long
Attached Image
  • #335
  • Sep 26, 2014 4:11am Sep 26, 2014 4:11am
[quote=FXAction;7763947][quote=catextract89;7763927]
Quoting FXAction
{quote} Good for you! can you post the pic of the trade?[/quote Catex, here is the picture of the au long {image}
  • #336
  • Sep 26, 2014 4:19am Sep 26, 2014 4:19am
Quoting Blackeagle
{quote} Thanks for the reply. If you please look at the last chart I posted with A and B, after candle B, price touched 12740 four times. Those touches are the ones what I am talking about (and you were stopped out at any one of those entries).
Yes, I see it. Well, as it's been said - nothing is perfect.

Quoting Blackeagle
{quote} Look at my post #288. Can you explain why you don't enter at A?
I would not enter neither at A nor B in this example. But Cate entered because his thoughts were different from mine and, perhaps, from yours. Discretion is a part of this method - you are right.

Quoting Blackeagle
{quote}Re. your statement "It's because he manages his losing positions till the profit cover all the losses.", you can do so such as post#27 if market moves 250 pips in one direction in a couple of days.
You don't need 250 pips move to cover your losses. That was such an example, but you can cover it even without such a good trending market. But, undoubtedly, sometimes you can have problems with it. That's just what Cate could created till now, so if some of us will be able to suggest something better - well, good for us )
So far, as I know, Cate ended every day with profit. But, I think, even if you take a loss from time to time at the end of the day, it's not a big deal. Just have to know your risk and apply correct money management.

Quoting Blackeagle
{quote} At this point I must say I have an idea re. how to enter but to be honest, since entry is discretionary in nature, I do think that anyone trading this strategy will have different results than others. Yes, we can determine which levels are more important or tradable than others by the information we already have, when to enter is a totally different story.
That is absolutely true. It's not a 100% mechanical system and the result will be different from one trader to another.
But, for my almost 3-years experience in trading, I can say that the best methods I have seen (or systems, strategies - call it as you like) are those which have a discretion element. I didn't see any reliable mechanical system so far. And not interested in them, to be honest.

Thanks and good luck to you too,

Best regards,
Artem
Let's go with the flow
  • #337
  • Sep 26, 2014 4:27am Sep 26, 2014 4:27am
Quoting artem_t
{quote} Yes, I see it. Well, as it's been said - nothing is perfect. {quote} I would not enter neither at A nor B in this example. But Cate entered because his thoughts were different from mine and, perhaps, from yours. Discretion is a part of this method - you are right. {quote} You don't need 250 pips move to cover your losses. That was such an example, but you can cover it even without such a good trending market. But, undoubtedly, sometimes you can have problems with it. That's just what Cate could created till now, so if some of us will be...
artem, i was about to reply to blackeagle.

thanks for your time.

anyhow. let it be like this.

how i enter. we all know about it already. position go to TP. good.

if it go to SL? there are a rescue mission standing by.
  • #338
  • Sep 26, 2014 4:28am Sep 26, 2014 4:28am
EJ and EU

patients,
explosion are coming soon.
  • #339
  • Sep 26, 2014 4:33am Sep 26, 2014 4:33am
hi cat, EJ because of red rectangle ?
Attached Image
Closer To Dream
  • #340
  • Sep 26, 2014 4:38am Sep 26, 2014 4:38am
Quoting edgartan
hi cat, EJ because of red rectangle ? {image}
this is valid. so now you know how to enter the market. now. figure out the rescue mission. standby for losses (if it occur).
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