I'm sorry to see Nina get so negative about trading after putting so much time and energy in. If you don't like your broker, or feel they are doing something to kill you, change brokers. Forex is tough, but people do make money in it. I checked out the cat system and wouldn't trade it. If a system is just ok, and you are getting bad spreads or slippage from a broker, and scalping for 10 pips, you will lose. Find a decent broker, learn to take longer trades, and practice good money management and you will succeed.

It is very simple. Study candle stick patterns. Learn PA. Learn chart patterns. Use trend lines, fibos, MAs, support and resistance. That's all you need.

Even Bill Williams gave up on OA and went back to the basics.

If you don't understand the basics, no indicator is going to make you a good trader. I use a modified Jurik RSX indicator for verification, but I pick my trades based on PA first. Most of my trades are between 50 and 150 pips.
7 out of 10 trades are good, and the 3 that are bad I keep the losses low.

Trading for 10 pips is a loss because your lot size or leverage needs to be high, you have to pay the spread, and the SL would have to be too tight for proper MM.
I trade lower lot sizes, and use a wide SL (so I don't get stopped out by normal price swings) and ride the trends. No broker can kill you if you work longer trades on the higher time frames at a lower percentage of base.

Anyway, I wanted to post because there are successful traders out here, who ARE making money. After reading some of this thread, I can see why Nina failed as a trader. A bad state of mind was part of it, and not having a good trading method or true understanding of how price action really works was a bigger part. Trading takes discipline, and a lot of hard work.

If you came here looking for an indicator to make you money, that IS gambling. If you have a good understanding of the markets, can read a chart properly, and base your trades on sound analysis, then you are a trader.

It's that simple.

Hi, Fudomyo!

I'm really glad to know that you are a successful trader. Really glad to know and see that you believe in TA. Happy to know that you believe in trading. I do not want to deceive you, I mean, I do not want you to think the opposite of what I say. I wanna stress once more time that you are going to lose all you have as a retail trader sooner than later.
I do know very goog traders that gave up. No more, no way. They finally realized what they were doing: gambling. Do you know why Casinos invented the double 0 in roulette?

__________________
Nina

We must fight on the winning side, not on the side we may believe to be correct.

Focus, Patience and Discipline

Hi Nina..
I'm curious about your statement regarding the end of forex retail trader from your past post. (I forgot the post number).

Now, we are having new trading rules from NFA which are hedging is not allowed and FIFO Rule. For some trader, these two new rules are really matter. But most trader who do not apply hedging is okay, also FIFO rule can be avoid by entering different lot size for the same currency pairs.
Do you mean those NFA regulations which will kill the retail trader?

Frankly speaking, I'm not making an argue by asking you questions. I just want to hear another perspective from you. The one who already famous in forex suddenly changed your state mind drastically.

In other forum several months ago before knowing your thread, I also ever ask to senior there, "Is it safe for us (retail trader) to make money for living, regarding Future regulations and Goverment Policy ?"
Because I still have a dream to trade forex for living. But later in these days, there are many major economical changes, which sometimes worried me. I'm worried not because of TA or Personal Trading Skill, but regarding the policy structure and regulations. But there are no satisfied answer from there.

So, as ajournalist, I really hope you can give me another perspective regarding your experiences, your major changing mind reason and also the related link/source you ever known.

Thank you, Nina and thank you for your great system. I'm still using your major indicators.

Your reply is very important for me.

Do you really believe no one can be successful? If you are not that doesn't mean no one can(with all due respect to you). Are you saying Jacko, Jim and all others are just gambling and they are all going to lose their shirt at the end, is that what you are really saying??

I do think you should change your mind set, i do believe you cant be successful since already think no one can.

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I stumbled on this strategy a few weeks back and have had good success using it on my demo account. Even though I'm new to the Forex world I can see things changing just over the course of the last few months. Many brokers seem to be gravitating towards the MT4 platform and I'm seeing some pretty snappy marketing plans similar to those you can find in the online poker world.

Having enjoyed online poker a few years I've taken to the challenge and excitement of trading currencies. Playing poker was a hobby and although I wasn't very good at it I found it was fun distraction and not really any more expensive than other popular hobbies.

After a few months of demo trading I find Forex more accessible, challenging and interesting than online poker. Having found a strategy (CatFx50) that really seems to be working for me I'm excited to learn more about it over the next few months and plan to begin trading live early next year.

I read a review of the new MT5 platform over the weekend (mixed review) and it is my understanding that many if not most of the custom indicators that work on MT4 will not work on MT5. I'm a little worried about jumping into the market with this strategy only to find in a short time that my CatFx50 indicators don't work. I'm reading through this thread and trying to learn all I can about what standard indicators can give the same signals as the CatFx50 indicators but I'm wondering if this community and the brains behind these custom indicators that worked so hard to build this thread and this successful system will be around when the current ones become defunct.

Has this system taken on an audience anywhere else on this site or on another forum?

Thanks!!

HI Nina ,
i'd like to ask u if this indicator give the pop up alert just to let u when change the support and resistance and to know the daily range price or also H4?

i looking for something like this with alert .


thanks for your reply ,

David.

HI Nina,
this indicator pivot fib now is ok ? can u suggest me for know daily and h4 trading ?

thanks a lot for u r help ,

David.