The Complete Cat and Mouse System with Money Management

Trading Systems Free Forex Trading Systems
209

Here’s the process I use to set up my 4 charts:

After I open the Trade interface, I configure the chart the way I want it, i.e. just at the top edge of the chart, to the left, I choose my currency pair, time average, the default is 15min I change it to 5min, then I choose the type of chart, CandelStick. Next I set the color of the candles, hover over a candle in the chart and it gives me the option to color the rising (green) & falling (red) candles.

Next I set up my chart Options, just at the top edge of the chart, to the right this time, just to the right of the Sell button is a button with 5 lines on it, it looks like a candle trend line. I choose my options, Show Ask Price & Show Bid Price.

Then I mouse click (left or right) in the black background area of the chart and select Open in New Window. Now I have just the chart & its set up the way I want it. There are 2 thumb sliders at the right edge of the chart and 2 at the bottom. On the right I leave the top slider where it is, slide the bottom slider to the top and at the bottom slide both sliders to the far right. Now I drag the right edge of the window to the left as far as it will go (on my system I have to drag it slowly) and drag the top edge of the window to the top of my screen & drag the bottom to the bottom of my screen. That gives me 1 chart that looks just like PPFs set up.

Next I go back to the original chart and right click again, in the new chart I change the currency pair but nothing else. Drag the sliders, set the size as I want and drag it next to the previously customized chart then again 2 more times for the 2 other currency pairs.

You may be saying “are you kidding me, this sounds like a lot of work.” yes, it seems a bit involved, but once you do it a time or two, it will be very easy.

Lastly I open the Buy/Sell Window and keep it to the right of the 4 pairs with the Keep Open box checked in the lower left corner. The first few times I set up I just placed a few trades just to get the feel of the system, I was up & I was down all over the place, but the point is to practice and get very comfortable with the system before actual trading with REAL money.

All the best.

210

Tom and Jerry would be proud.

211

Thank you very much emmdon, I appreciate your help. Did you have any trouble with O. this NY a.m. session? I got price movements but the candles were frozen so I didn’t trade and I rarely trade on Fridays anyway. d.

212

I’m still mostly using PPF’s practice simulator. I’m at 83% success rate now and don’t plan on live trading until I hit 90%+. In the mean time I do watch O but as PPF said, Mondays and Fridays are a little bumpy and he likes to trade when the spread is at 1.9. I’m looking at it now and it’s 2.0 (oanda.com/why/spreads/live). Not so much because the spread isn’t favorable, but because a wider spread indicates volatility in the market. You just have to decide for yourself when the spread is favorable.

All the best.

213

So glad to see that people get this, and see it for what it is, I was so fed up a couple of weeks ago, I was getting poor service from my hosting company, so I had to change, and that was an upheaval that I had to sort because of someone else providing a terrible service, I was really thinking - I don’t need this, then Paypal froze my account because of their automated systems. But my techie colleague that does most of the programming (another one that has been on “the course!!”), had a look at other options and as he was sorting it all out Paypal got in touch and said everything was sorted, I really had, had enough, and then I had a customer that was expecting to succeed with less effort than I have put into making the strategy works for me.

So this is the score guys - it is what it is, not all of you will be able to succeed with it no matter how much effort you put in, others will take to it like a duck to water, and some will succeed after a lot of effort and frustration. I will answer all emails in the best possible manner, and I will do my very best through email support to try and make you succeed, but in the end it will be down to you, what the product is more than anything is a shortcut in the way that it saves so much time being able to practice the strategy over and over again, and even if you find out that it’s not a strategy for you, you will have found that out quicker than demo trading it, which in itself will save you months.

So it’s there for you, I can help but I’m not a miracle worker, it is down to you, it’s a piece of very effective software that lets you practice practice practice and keep it in context - you can always spend £30k+ and go to University and get a degree in 3 years.

215

28th of November since anybody contributed here?
What’s up guys? is everybody so busy making lots of money?

216

Hi i was wondering what the amount risked per trade and stop loss is (assuming its mental) excluding the spread. Thanks

217

You have to use Oanda for this strategy really, it’s only them that have the platform to do it effectively, I set my stop at 2, which is the spread + 2 effectively.

218

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Hi…
I also marked the same which you had described above.

219

PPF,

How do you go about actually setting the stop loss in Oanda (I have Oanda and have used it for a few years)? The problem I have is, if I set it up via tools/user prefs/trading and set it to say 2 (which of course doesn’t take into account the spread), then whenever I open a buy/sell window, the SL is there but it is [U]fixed[/U], so if say the price then moves 10 pips in 10 mins, when I come to actually place the order my SL is now 12 pips (+ spread) away from the original entry point.

So is there anyway around this or do you have to move the SL manually during a trade?

Thanks.

220

On your sell/buy window change from Price to PIPS, I think it then defaults to that.

221

Well, when I had time off over Christmas I practised and practised and practised on that simulator, and I felt I was really getting somewhere, and I have, I have been demo trading all through this month and I’ve been showing a profit, so I’ve decided to open an account with £200 to see how it goes, it’s money I really don’t want to loose, but I don’t see the point of just using £20, because that wouldn’t really mean anything, I think it has to be a ‘real’ amount, or should I just start with a few pounds for a couple of weeks and then add to it.

What should I do?

222

Hi there. I noticed that GFT is offering spreads as low as 0.8 for gbp/usd. Just wondering if this would work with that broker. I’ve heard tgat GFT is not a good broker for scalpers.

223

I’m not one to ever rule any possibility out, but I wouldn’t recommend it, slippage is also part of the equation.

224

I see. Made 3 successful trades so far on GFT’s dealbook demo. Will continue this for a month before going live with this system.

225

I started a month ago with $312 and now I have $339, Ok it’s not much, but you’ve got to start somewhere and I can build on this, I think I’ll give it another month before risking any more money.

sargedessy - how has your month gone?

226

8% this month, I think it might be an idea to hit through the $400 barrier before I consider risking more capital, I don’t want to crash and burn, since it’s going Ok I think.

227

With the bank holidays and everything last couple of months, my trading opportunities have been fewer, so I’m not at that $400 yet, but I feel I’m plodding along nicely.

228

I have understood the system to an extent but i have some questions for purple
>can i trade on any of the pair gbp/usd, eur/usd, eur/gbp, usd/chf provided that the 2up and 2down condtion is satisfied?
>what is the strategy to get out of the position?

229

Just realised, video embedding is available on the forum since I started the thread.

You just trade the GBP/USD, and close the position soon as it stalls.