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I am new to this system. Tried it today on demo and got about 100 pips with three trades on USD/CHF , EUR/USD, GBP/USD.
As we enter the trade on rules defined by your method.
But can you tell me which strategy you use to exit the trade in this method.
WAiting for reply.
Regards,
Hi!!
Welcome on board!
Had a gorgeous first day, I see.
We use Fibopivots. But it is better to fix your target according to your risk/reward ratio. This r/r will be given by your stop loss.
A standard one is 34 pips, which means that you should make 68 pips to have a 2:1 r/r. As this is not what you get in every CatFX50 signal, I suggest to use another stop loss based on what the price have been doing before the signal.
USDCHF, level 4 buy (08:00cet) @ 1,2477 with stop at 1,2471 or 1,2464 or 1,2457. It has made a high so far at 1,2546. + 69 pips.
EURUSD, level 4 sell (08:00cet) @ 1,2691 with stop at 1,2702 or 1,2716. It has made a low so far at 1,2654. + 37 pips.
GBPUSD, level 4 sell (right fractal down -08:30cet) @ 1,8721 with stop at 1,8746 or 1,8762 or 1,8783 or 1,8801. It has made a low so far at 1,8664. + 57 pips.
I have been bit passive and listening to all your comments on this thread and very impressive.
Guess what, today is the first day of my trading live. Being in the east coast of North America, i stayed bit late to fit myself in your time frame of trading....WORTH MAN...........its REALLY WORTH.
I havent made so many pips in a single day................
Hat's OFF buddy.
Thanks alot for your great system.
Once again Thank for you and efforts of great minds to tweak this system.
USDCHF, level 4 buy (08:00cet) @ 1,2477 with stop at 1,2471 or 1,2464 or 1,2457. It has made a high so far at 1,2567. + 90 pips.
EURUSD, level 4 sell (08:00cet) @ 1,2691 with stop at 1,2702 or 1,2716. It has made a low so far at 1,2638. + 53 pips.
GBPUSD, level 4 sell (right fractal down -08:30cet) @ 1,8721 with stop at 1,8746 or 1,8762 or 1,8783 or 1,8801. It has made a low so far at 1,8632.
+89 pips.
I have been bit passive and listening to all your comments on this thread and very impressive.
Guess what, today is the first day of my trading live. Being in the east coast of North America, i stayed bit late to fit myself in your time frame of trading....WORTH MAN...........its REALLY WORTH.
I havent made so many pips in a single day................
Hat's OFF buddy.
Thanks alot for your great system.
Once again Thank for you and efforts of great minds to tweak this system.
AAkif
Hi!
Congratulations, mate!!!
CatFX50 signals are strong. If you look at you risk/reward ratio when taking them, you are going to make money. And you know when to scale and when to exit too.
Do not forget that you'll have losing days. This is trading.
Your risk/reward ratio should tell you where to place the stop, and, of course, what you see looking at cable's chart. It is obvious that a stop of 80 pips is a stupidity if you do not expect to get 160 pips at least. Can cable go down 160 pips today? Well, seeing what we've seen these last days, everything is possible here. But.....
A stop of 25 pips is great, cause you can sell half once you get 15 pips and place the other half at b/e. You need to make 50 pips to hit a 2:1 ratio.
Hi Nina! Another great day for trading CatfX50!
There's one thing I don't get about your risk/reward calculation and position sizing. For example the cable-trade in the morning. If you take the half position with 15 pips profit and the other with 50 pips, you made 32 pips with the whole position. And because in the beginning you risk 25 pips with the whole position and made 32 profit you will get a real 1:1.25 ratio.
So when scaling out of a trade, you will never get the full reward you calculated before.
I enter three trades today in demo account and all are Profitable.
I also have T_S_R Daily Range Calculator attached to my chart.
Once i enters a trade in european session at about 08:00. e.g USD/CHF , once it reaches 1.2540 this Indicator show Room UP= 0 . I enter short trade here and get positive trade. What i want to know is this a good trade oppurtunity after original CatFX50 Trade entry .
There's one thing I don't get about your risk/reward calculation and position sizing. For example the cable-trade in the morning. If you take the half position with 15 pips profit and the other with 50 pips, you made 32 pips with the whole position. And because in the beginning you risk 25 pips with the whole position and made 32 profit you will get a real 1:1.25 ratio.
So when scaling out of a trade, you will never get the full reward you calculated before.
Have a nice weekend
handson
ps. sorry for that english
Hi, Handson!
You are absolutely right. I should avoid taking partial profits cause it reduces the hit ratio. And I should not count the r/r like I do if I scale.
Linear Mode
