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Everything looks beautiful when you know what happened. The past is easy to see and to make comments about it.
It is easy to say: "you know, here you had the entry and here you could have closed half and so on....".
But only the past can tell us if the system, whatever, performs nicely. Then, as a trader, you need the guts to buy or to sell; you need to sweat and you need to lose.
CatFX50 is telling you mechanically where to buy or sell, but only you pull the trigger. AND THE TRIGGER CAN NOT BE PULLED IF YOU DO NOT HAVE A MINIMUM OF EXPERIENCE.
There are newbies that jump in without any knowledge about the market they are trading and sometimes without any knowledge about trading at all. They are told by delinquents that they will make a fortune trading forex. And they try. Most of them lose all they have. Some lose their family too and some quit their jobs. When they realize they've made a mistake it is too late.
I'm saying all these because I receive a lot of mails that make me worry.
DO NOT TRADE IF YOU DO NOT HAVE ANY KNOWLEDGE ABOUT THE MARKET YOU WANT TO TRADE.
DO NOT TRADE IF YOU DO NOT HAVE ANY KNOWLEDGE ABOUT TRADING AT ALL.
DO NOT TRADE IF YOU DO NOT HAVE ENOUGH MONEY TO LOSE.
As you see, Friday was a good day for CatFX50 followers. But only the ones that have knowledge made money. I'm sure about that.
There are a lot of mates that like to bet. Some do it following Elliot blindly, others because whatsoever quantum equation say so and there are others that believe that God makes highs and lows. Ok, no problem. Become a member of a sect and you will lose all you have.
You have to be very very flexible and pretty open minded to follow these guys from the Elliott Wave, by far not blindly. If you have found one high quality party of them in one of the forums though and pick their predictions that might fit to your own discretion this works.
Their yesterday's prediction was:
Quote:
..I think we wont get to 1.2800-10 area ... USD/CHF has strong support in the 1.2280-90 range and would be a low risk buy with stop at 1.2270 until your position is in profit 20 pips, then stop goes to b.e+1.
Since this is about 10 pips from here for the usd/chf I can't see Euro going above the 1.2780 area
and further during the night:
Quote:
If I am right on this analysis then expect euro to drop all week.
The last post doesn't really match to my own understanding according to my "fundamental" goal. So be alert and flexible
You have to be very very flexible and pretty open minded to follow these guys from the Elliott Wave, by far not blindly. If you have found one high quality party of them in one of the forums though and pick their predictions that might fit to your own discretion this works.
Their yesterday's prediction was:
and further during the night:
The last post doesn't really match to my own understanding according to my "fundamental" goal. So be alert and flexible
Hi, Zunis!
That's why I said "do not follow EW blindly". The same EW follower is forecasting the big mamma of all shorts for some time ago now. He sees EURUSD at 1,2120. Ok, I do not trade that way. As you know, Elliot followers change their counts each timer they are wrong.
These days market is very thin. It is very dangerous to trade and only a big shark can move the market.
Yesterday, for instance, I only made some pips on USDCAD.
I agree with you when you say "match to my own understanding and be alert and flexible".
You only need another bad NFP and you will see the big mamma upside down.
I loved this strategy..but i am using this strategy in 2 brokers and the indicators are showing the datas differents... the indicator at IBFX is different at other broker...
What is the best time for use this strategy? GMT? CET? (IBFX is GMT)
I loved this strategy..but i am using this strategy in 2 brokers and the indicators are showing the datas differents... the indicator at IBFX is different at other broker...
What is the best time for use this strategy? GMT? CET? (IBFX is GMT)
Thanks
Hi, uagadugu!
Forex is a non-regulated market. Each broker can print the rates he wants. And they, as you know, go against you.
We mainly use here Neuimex. But this is up to you. Indicators can show different signals according to different brokers' data feed.
The recommended time to trade CatFX50 is from 08:00cet to 18:00cet. But, again, this is up to you.
And why don't you try to backtest the last 3 months yourself or read the thread of the last months or better from beginning?
Is this impossible, because you are an amateur? Don't make me laugh.
I have a bonus suggestion, follow the system the next 3 months "live".
Ditto Ditto Ditto and did i mention Ditto? Foward test it in demo. Foward test it in demo. this is a good system. that's all i have to say. Oh and nina is cool.
Linear Mode
