Hi Hsr2000,
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I am questioning if I don't know how to use this correctly.
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The very same thing happened to me when I first started reading about all the indicators and systems, I know how you feel! My solution was to read everything until I started getting my own viewpoint on the matter. Many of the "old timers" here at this forum will agree that it's very important to read and study enough to start to form
your own viewpoint.
Once you start to have your own viewpoint, it will lead to you forming
your own trading style. It doesn't mean you will know all there is to know about Forex, but more so that you know what's best for you, and what isn't. Believe me, it will go a long way to eliminate some of the confusion!
Many of the other indicators that have been added are nice, but don't take the place of the power of observation.
I noticed your screenshot consisted of a ranging market with no clear direction. That should be your first indication not to trade 'till you have a clearly directional market.
Many things start out simple and then get more complicated, CatFX50 is no exception. I personally like Harold4x's setup, since it does tend to keep you out of bad trades.
BTW, none of the indicators at this forum can be followed blindly. I'm a newbie Forex trader and know it's
more important to learn when not to trade, than otherwise.
A couple of examples:
a) I've noticed that at the start of the Forex week the market is weak and looking for direction...so I don't trade.
b) Right after a
Forex news event there will be extreme volatility in the market, followed by a period of ranging and consolidation - all this can happen in the space of half hour - so I also don't trade during those periods.
If it will help, go to post 2884 of the catFX50 thread and you can take a look at a series of graphics I did. Notice I kept it simple?
Hope this helps.
moneyline