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your yesterday's GBPUSD trade at 11:00CET (31 pips):
how did you manage to exit at exactly low (1.7685) of the 30 min bar?????? What is you exit strategy?
BTW, I like your frog - nice eyes
What we are counting here is the potenciality of the system.
As far as we see, the system gives an amazing percentage of winning entries. So we know that when we have a cross TF30 and an opening of next bar below/above EMA50 validated always by StepMa, all we get are pips in the majority of entries.
So the question of "When to enter?" is already solved. But now we have the other big questions to be answered: "When to exit?".
I've said that to play this FOREX game (metaphorically speaking) we need to have a nice account. For me, it should be above $50k.
That amount will allow us to trade multiple lots. If I feel confident, cause I see speed and a clear cross, I go with 5 lots. I switch then to TF5 and look what's going on there. I have Shi-Cannel too and fibopivots. If I see StepMa crossing against my possie, I begin to square.
Beerhunter, there is not an exit as clear as an entry methodology. And I think it is impossible to exit at the very lows and highs.
Nina
I understand the CatFx50 system a lot better now. Just one other question, at least for now, where do you set your stop loss? That is, if you use one. Thanks for sharing your thoughts and method.
I understand the CatFx50 system a lot better now. Just one other question, at least for now, where do you set your stop loss? That is, if you use one. Thanks for sharing your thoughts and method.
The size of your account should tell you what to do. You should decide how much you want to risk in every single trade. Of course, a clear stop is when a cross validated by StepMa is made against our possie.
OK Nina, I understand. Your results are just hypothethical.
So for exit, what you think about this? We exit at the cross of StepSto_v1 (0.5, 0.5, 5) indicator. It could also be used for entry.
Good morning!
It is not a bad idea. To be honest, I've been tweaking with all this. For entry and exit, you can also set StepMa-Stoch to 1.0 and 1.1. It's a little bit faster. You should try and take the one that you like it most.
About your settings of StepSto_v1, I can only fix two parameters: Kfast and Kslow and you seem to have 3. Am I right?
StepSto is much more sensitive than StepMa-Stoch. So take care. You should test it a lot of times just to see if it fits your needs.
BTW, we have already a cross up on EURUSD and a cross down on USDCHF. None of the crosses validated by StepMa-Stoch.
Pivot on eurusd is at 1.1982. Has made a high at 1.1980.
Pivot on usdchf is at 1.2870. It has made a low at 1.2874.
I'm not at home. So I can not login my MT4 platforms. But looking at other charting package, I think the system has given more nice pips today. Hyphothetically, of course.
EURUSD was a validated buy (09:30) at 1.2001. Made a high so far at 1.2027. +27 pips.
From that high it went down to 1.1964. It not was a sell until 1.1974. Made a low at 1.1970 and spirited up again to 1.1994. Lost of -24 pips. Then it was a buy at 1.1994. Made a high at 1.2017. +23 pips.
EURUSD total: +26 pips.
USDCHF was a validated sell (09:30) at 1.2858. Made a low at 1.2834.
+24 pips.
It was a buy at 1.2880. Made a high at 1.2929. +49 pips.
USDCHF total: +63 pips.
GBPUSD was a validated buy (09:30) at 1.7689. Made a high at 1.7743. +41 pips.
Total GBPUSD: +41 pips.
I know we are testing the potenciality of this easy system. So all the profits are hypothetical.
Ok, do you want to reduce them to 25% of weekly total posted? Go ahead:
+218 pips.
How many retail forex traders make that amount of pips per week?
Of course, if you trade minis -which is a waste of time and money- and divide those pips by the number of hours you spend looking at your screen(s), you'll become an indigent soon.
What has been proved is that you should be able to make at least 10 pips out of 90-95% of your trades.
But, anyway, as I'm not a seller, I only try to show you that, if you want to make money trading FOREX, you do not need to complicate anything.
Now, I think, we need to try to find the best way to exit with the maximum of pips. So you are welcome.
Linear Mode
