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my system of 20 pips

  • #401
  • Sep 27, 2014 12:11pm Sep 27, 2014 12:11pm
i think i already reply all PM. if you didn't receive a reply from me, please re sent your PM as i may overlooked your PM. i'm so sorry if that happen.

positive attitude always.
  • #402
  • Edited Sep 28, 2014 8:44am Sep 27, 2014 12:17pm | Edited Sep 28, 2014 8:44am
Quoting fxtrain
Hey guys. I filter my trades by using a range indicator. I would not buy on the high end of the range, and sell on the low end of the range. We don't want to buy when PA reaches its daily range limit, right? On my chart the green and red are the range. Hope this helps. {image}
hey FXtrain cool indi could you share it please

Nice thread cat
****
Edit Thanks a bunch fxt
There has never been a statue erected in honor of a critic
  • #403
  • Sep 27, 2014 2:41pm Sep 27, 2014 2:41pm
Quoting borgu
{quote} yes I found it. Informer does it automatically but I am worried that if that is our rescue mission the rule on history repeat it self is not observed again. in post 27 chart one thing is obvious Cat places trade at each 20 pip level where his tp or SL hit. Does the magic lie in using uniform lot.
When SL is hit, the rules are changing.
And you are right about fixed lot size (or uniform - as you called it).

Quoting borgu
{quote}He said somewhere that he trades only 0.01 lot. Could he be doing so with conviction that winner will outnumber loss without caring about fundamental at all?
I guess, yes.

Artem
Let's go with the flow
  • #404
  • Sep 27, 2014 3:33pm Sep 27, 2014 3:33pm
Cat and artem_t,
Since I don't want to spoil "Cat's journal" by saying to much (that could be a spoiler of this game ) I've sent you both my understanding of the chart in post #27 that took me 5 minutes to decipher it. I could be wrong, but then again all your answers reaffirm my thoughts. However, I have couple of theoretical questions that I would appreciate if you could answer, and if you think they are relevant for this thread, then also share with others. Thanks.
  • #405
  • Sep 27, 2014 5:02pm Sep 27, 2014 5:02pm
Artem thanks for your response. But as we still Wait for Catextra let me point out that the trade on post 27 ended on plus only because the currency was trending at that time. If not there would have been more loss than win. However I am sure Cat must have a way of doing it. Let's just wait for him. Respect to you Artem. Cat and priceaction who has good insight about this form of trading and I humbly pray you priceaction to make more contributions here. Enjoy brothers
  • #406
  • Sep 27, 2014 11:18pm Sep 27, 2014 11:18pm
Quoting pip.monkey
{quote} hey FXtrain cool indi could you share it please Nice thread cat
Here you go!
Attached File(s)
File Type: ex4 Market Panel Display Controller.ex4   28 KB | 416 downloads
File Type: mq4 Market Panel Display Controller.mq4   26 KB | 464 downloads
  • #407
  • Sep 28, 2014 12:46am Sep 28, 2014 12:46am
Hello artem_t,

Just needing some guidance on one of the trades I was looking at Eur/Jpy.. The candle marked with the arrow had momentum and broke an important level of 1.3600(price ranged there for a while...as per our strategy I placed a sell stop order there as stated by Cat that if its broken once its gona break again..price did come there after sometime to trigger the trade but it took the SL...just wanted to know if it was a valid trade or I missed something.


Regards

Dennis
Attached Image (click to enlarge)
Click to Enlarge Name: EURJPYH1.png Size: 39 KB
  • #408
  • Sep 28, 2014 2:35am Sep 28, 2014 2:35am
Quoting dennis4u15
Hello artem_t, Just needing some guidance on one of the trades I was looking at Eur/Jpy.. The candle marked with the arrow had momentum and broke an important level of 1.3600(price ranged there for a while...as per our strategy I placed a sell stop order there as stated by Cat that if its broken once its gona break again..price did come there after sometime to trigger the trade but it took the SL...just wanted to know if it was a valid trade or I missed something. Regards Dennis {image}
The arrow I can see on ur chart is for bull. Am I corrrect?
  • #409
  • Sep 28, 2014 4:24am Sep 28, 2014 4:24am
Yeh @ FXACTION,

yes it is a bull candle which broke the 1.3600 level...so I placed the sell stop as Cat says once it is broken it will most probably break again...the 1.3600 level was tested a lot so that's why I placed the sell order but it was a loss.

Regards

Dennis
  • #410
  • Sep 28, 2014 6:46am Sep 28, 2014 6:46am
Quoting dennis4u15
Hello artem_t, Just needing some guidance on one of the trades I was looking at Eur/Jpy.. The candle marked with the arrow had momentum and broke an important level of 1.3600(price ranged there for a while...as per our strategy I placed a sell stop order there as stated by Cat that if its broken once its gona break again..price did come there after sometime to trigger the trade but it took the SL...just wanted to know if it was a valid trade or I missed something. Regards Dennis {image}
You short on the red candles? First, price had a huge rundown for the day, and its at the bottom of the range. Second it is a double bottom and price was gonna up. I would not trade this, but if i had to placed a trade, i would go long.
  • #411
  • Edited 4:51pm Sep 28, 2014 9:37am | Edited 4:51pm
Quoting dennis4u15
Yeh @ FXACTION, yes it is a bull candle which broke the 1.3600 level...so I placed the sell stop as Cat says once it is broken it will most probably break again...the 1.3600 level was tested a lot so that's why I placed the sell order but it was a loss. Regards Dennis
With all due respect to Catex, I think this is one of the few instances where my trading style differ from his. He uses a mechanical approach while I insist on finding out the underlying principle behind a setup b4 I take a trade. so what do i see concerning your short at 138.600 psch level? Notice that at 138.400 price was violently rebuffed as evidenced by the yikes. This should signal a possible psych level which is acting as an s/r . If u visit the daily tf u will clearly see that the s/r is at the 138.400 level which has severally acted as resistance to price. Then precisely on 11/9/2014, price zoomed past the 400 level and now price came back to it and it turned from resistance to support. This is the reason 4 the yikes on your chart. So what u did was to stand in front of a moving shaft. Never stand in front of a moving shaft. Now coming to the 600 level where u placed a sell order. Actually there is a qaud bo there, on the 1h tf, but price brushed past it and d 1h candle closed above d quad bo without a yike. If price hd reacted, then u will be talking of going short at that level as price preciously went down there. Now going up to the 138.00 level where price again previously went down, there was a reaction. Price insisted on passing the level to go up, but the resistance held and price went down. If u go a few posts back, u will see where i posted the setup. While some other people went long, i went short and as there was consolidation, i was happy knowing that pay time is due. I hope I have not confused u the more.
I wish u green pips.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 6 KB
  • #412
  • Sep 28, 2014 9:57am Sep 28, 2014 9:57am
Quoting fxtrain
Hey guys. I filter my trades by using a range indicator. I would not buy on the high end of the range, and sell on the low end of the range. We don't want to buy when PA reaches its daily range limit, right? On my chart the green and red are the range. Hope this helps. {image}
Are you a Udine follower? You use same/similar indicators and your charts looks uncannily similar.
http://www.forexfactory.com/showthread.php?t=487923
non si dimentichi mai
  • #413
  • Sep 28, 2014 10:04am Sep 28, 2014 10:04am
Quoting dennis4u15
I was looking at Eur/Jpy..
Hey Dennis,

Just saw your spread, ouch! That's a rip. Around three times what it should be (see attached), unless the screenshot was around a major news event in which case spreads do go crazy.
Attached Image (click to enlarge)
Click to Enlarge Name: EURJPYM30.png Size: 41 KB
non si dimentichi mai
  • #414
  • Sep 28, 2014 10:09am Sep 28, 2014 10:09am
Quoting plus50
{quote} Are you a Udine follower? You use same/similar indicators and your charts looks uncannily similar. http://www.forexfactory.com/showthread.php?t=487923
Yes i use some of his indicator, but i don't like the 5 pips profit, 10 sl. With Cat's entry system, i modified it a little. Entry is a little different.
  • #415
  • Sep 28, 2014 10:30am Sep 28, 2014 10:30am
Quoting dennis4u15
Hello artem_t, Just needing some guidance on one of the trades I was looking at Eur/Jpy.. The candle marked with the arrow had momentum and broke an important level of 1.3600(price ranged there for a while...as per our strategy I placed a sell stop order there as stated by Cat that if its broken once its gona break again..price did come there after sometime to trigger the trade but it took the SL...just wanted to know if it was a valid trade or I missed something. Regards Dennis {image}
Hello, Dennis!

Without taking an account any additional analysis and considering only the way how Cate chooses levels, for me it would be an "ok" trade.
But I'm not sure that Cate will say the same, because there is a discretion that plays an important role.

Artem
Let's go with the flow
  • #416
  • Sep 28, 2014 6:58pm Sep 28, 2014 6:58pm
Thanks Fxaction and artem,

Yeh when I look at the daily time frame it tells a different story...
  • #417
  • Sep 28, 2014 7:04pm Sep 28, 2014 7:04pm
Hi FXAction,

this is another one that I thought would work...1.27400 on EUR/USD was an important level which was broken by a big enough candle hence I placed a buy order
there as it has been broken once...price came back but was rejected and hit my SL... Candle marked with arrow was the 1 which broke the level...I believe we have to use discretion like Artem stated...we don't have to take all the traded where levels are broken as some levels when broken once can still be strong enough to repel prices.

Regards
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDH1.png Size: 34 KB
  • #418
  • Sep 28, 2014 7:23pm Sep 28, 2014 7:23pm
Quoting dennis4u15
Hi FXAction, this is another one that I thought would work...1.27400 on EUR/USD was an important level which was broken by a big enough candle hence I placed a buy order there as it has been broken once...price came back but was rejected and hit my SL... Candle marked with arrow was the 1 which broke the level...I believe we have to use discretion like Artem stated...we don't have to take all the traded where levels are broken as some levels when broken once can still be strong enough to repel prices. Regards {image}
Did u go long at the red arrows? If u go long there u are going against the trend. Previously price tank on red candles, meaning strong selling. Be careful when u short.
  • #419
  • Sep 28, 2014 7:28pm Sep 28, 2014 7:28pm
hi FXACTION,

I was planning to go long as per Cats method but I was not sure so I decided not to take the trade...there are so many things to look at before pulling the trigger.
there is really no simple method...always learning...so after a decent level is broken with a big candle we still have look for trends and higher time frames before we think of pulling the trigger...heaps of stuff to look for

Regards
  • #420
  • Sep 28, 2014 7:49pm Sep 28, 2014 7:49pm
Quoting dennis4u15
Hi FXAction, this is another one that I thought would work...1.27400 on EUR/USD was an important level which was broken by a big enough candle hence I placed a buy order there as it has been broken once...price came back but was rejected and hit my SL... Candle marked with arrow was the 1 which broke the level...I believe we have to use discretion like Artem stated...we don't have to take all the traded where levels are broken as some levels when broken once can still be strong enough to repel prices. Regards {image}
Hi, remember that what we trade here is breakouts, not bounce setups.Watch Catex setups. This is key. Check my posts u will notice i was short at that level. One of the things that will help u much is to develop the invaluable ability to read chart patterns. Nobody can teach u that. it is a skill u will develop by devoting much screen time to your cause. Can u pls., post ur version of the sweetsports indicator. More green pips to ur elbow.
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