I saw it when i read the entire thread but can't find it now.... but could someone remind me how to merge my 14,3,3 K% with the 5,3,3 K% on Meta4 or point out the post# to look at.
Thanks in advance!
Thanks in advance!
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DislikedI saw it when i read the entire thread but can't find it now.... but could someone remind me how to merge my 14,3,3 K% with the 5,3,3 K% on Meta4 or point out the post# to look at.
Thanks in advance!Ignored
DislikedHi,
Does anyone know if/when Spudfyre will be back since his last post on 07-12-07 ?
Ignored
DislikedIn my efforts to see the "forest for the trees" using the Weekly Stochastic on the daily chart, I am showing where my thinking is this week-end.
The last trade was successful shorting the cable on 7/25 @ 2.0518 and closing the trade on 8/23 @1.9958 for a total of 560 pips.
I have since reversed positions and have scaled in 2 buys on successive days, 8/23 and 8/24.
Thanks Spud for starting this thread... Using a MTF Stochastic on a longer time period than the current chart has made all of the difference.Ignored
DislikedJnevins - I am still enjoying the profits from your modifications to the Spud theory. I do have one question...in your post on 8-25-07 your chart shows two moving average lines. What MA's do you use?
Thanks again -
T4KIgnored
DislikedWe need to calculate price where K% will cross the certain level of stochastic ( eg. 76.4 , 0r 23.6 or 85 ) later. If Possible, we need the MTF indicator. And also we need to calculate price where the stochs thread will converge. For the basic idea look at this
http://www.ensignsupport.com/email/1689.mhtml
The price is the minimal target price where to taking profit, or where we prepare to enter the trade....
I wish we can make the pricefinder stochastic like this..
Could you make our dream become true, please..Ignored
DislikedHi TK4,
The yellow line on the chart is the Snake indicator set to its default period of 5. ... it is a non lag MA and the purple line is an 11 period SMA (close). I am finding that the non-lag MA v 7 is even more sensitive as a trigger... Set to 21 days to start....Ignored
DislikedHi J.
Where is your post on the alterations to Spud's method?
I got caught up on this and I must have missed it.Ignored
DislikedHi TK4,
The yellow line on the chart is the Snake indicator set to its default period of 5. ... it is a non lag MA and the purple line is an 11 period SMA (close). I am finding that the non-lag MA v 7 is even more sensitive as a trigger... Set to 21 days to start....Ignored
DislikedHello jnevins,
very interesting variation in this thread because I also like to trade the long term being more relaxed with my trades.
And of course: congrats to Spud for his great method and manuals
I would like to ask you some questions if you don't mind:
1.- I think that your original method was only based in weekly stoch (reaching overbought or oversold zones) and then daily stoch to enter the trade (when it's also in that OB or OS zones and crossing). That's the method that I want to test more seriously.
2.- Now I see that you are adding the snake indicator, ergodic, emas and you are trading more in weekly (you continue your short in cable because the weekly stoch didn't cross yet).
Well, I tested the snake indicator (I didn't know it was a 5 period until now, I had the default settings) and in daily it was with green fat bars, but gbp/jpy was falling down and this fall was about -300 pips. When it was by -200 the snake indicator repainted itself with 6 new bars!!! showing thin green bars and few red fat bars... so this indicator with the default setting is not good. Perhaps it's not good at all. I tell you this only to contribute in your method.
That's why I would like to know your opinion about your ema 144, the snake indicator, ergodic, emas, weekly stoch... and if you think that it's better the first strategy entering the trade when daily cross (first the weekly reach OB or OS zone). What I find difficult is when to exit in this method. You know: trading in daily or weekly you need to risk only a little with low lots because you can see -300 (daily) or even -1000 (weekly) in some volatile pairs before recovering again.
So, what's your opinion about the best option to exit the trade when you are trading with daily stoch?
Thanks and congrats for your great contribution!Ignored
DislikedThanks for the kind words...
Spud's great contribution was in offering a "safer" method to enter short term trades.... He states in his "Escalator to Pips" Manual, "If you have been following my journal entries in Forex Factory, you will notice that I
have been making extremely short term trades to capture small pips. This I have been doing to demonstrate the use of stochastics over multiple time frames. I also wanted to demonstrate that you can make low gain pip trades and make a consistent income from it."
I teach at the college level, full time, I love my job, and have no desire to sit by a computer all day to trade. I wanted to see if using the idea of looking ahead to longer time frames beyond the daily would provide that same measure of seeing the big picture... just in a period of 4 -6 weeks per trade and reversal, rather than 4 - 6 trades per day!
So in answer to your questions...
1. Correct... It really is a weekly trade system, using the daily for entries only after the weekly stochastic is established in the OB/OS territory... the daily Stoch or BH Ergodic indicator I posted earlier acts as the trigger only at those OB/OS times... I try to ignore it during the middle of the run.
2. Actually I wrote a post on Aug 25th entitled "Weekly Swing Update", http://www.forexfactory.com/showthre...06#post1558606 , Where I posted a chart showing me going long on the GBP/USD... I am still long, even though the BH ERgodic has headed south as the weekly stoch is still in mid range, not in OB/OS territory. This is where I need the faith and patience the Weekly Stochastic helps reinforce.
Agreed on the Snake Force Indicator! It does repaint... it is great for back testing but beware using it going forward.
So... Really what I am relying on is the Weekly Stochastic. Everything else contributes noise... When I see the weekly go into OB/OS territory, only then do I pay attention to daily indicators to help as a trigger for reversals from long to short and the reverse.
I agree about the potential for large draw downs... In back testing, the worst case I found going back on the Cable has been 150 pips. As a simplified money management plan, I would trade 1 lot for each $5,000 of balance... and no stops! Mind you, this is on a demo account for now. I want to run this forward for at least 6 months before I risk actual funds.
This is still a work in progress! All comments are welcome!
Good trading!Ignored