GBPUSD M5 timeframe
Out of the hundred systems i have been watching on FF this the most sound and logical system i came across,i am mainly focus on the 15M timeframe.
Just has curiosity how many signals in average do you get on GBPUSD M5 timeframe,for the London/NY sessions combines.
Morning GBPUSD session
Woke up late this morning and therefore missed the only signal, even though it would have resulted in a loss, however if i was awake i would have taken the trade. All other uptrend signals would not have been 100% valid as one out of the 20,50 or 100 stoch was flat in the other situations.
Although the 5 stoch hadn't pulled all the way back i would have taken the trade as i would think that price was continuing its uptrend for today. Hopefully more opportunities later on in the day.
Didn't take the trade
didn't take the trade for a number of reasons:
1. as u can see the 100 stoch hardly had a slope, it was pretty much flat.
2. the 20 and 50 stoch were turning from sloping downwards to flat.
3. Today has been a bullish day and in order for me to take the trade against the short-term trend, i would have needed to see good sloping on all three slower stochastics.
Patience is key, i don't mind waiting around to try and find an opportunity later, when the market is ready to give me one.
First trade taken
the whole enchilada
hello everybody i just wanted to tell you that i developed somthing very similair to this method glad to see some one thinks the way i do boxingislife i just want to say that your on the right track tho i think i could help you to see some key things that your analysis is lacking in regards to the way your are looking at your stochastics like i said you have the basic concept down goodjob not many can see what we do what i can share with you will eliminate some of the losses that you have tho i see there are not many i trade full time and make profits every trading day please post me if you would like me to share i have to ask because its your thread
talent fx please go ahead and post anything that can be helpful
sexy still amazing!
I am amazed that this thread is not more popular. I have been using these indicators with my system for 2 years now, and have had great results. With practice you can find some excellent trades.
ok so basically i look at the 20 80 lines as support and resistance if you have a break above the 80 for example the probability of an uptrend is greatly increased bounces from these lines which happens frequently is looked at as not breaking support and resistance results can vary from time to time frame but the longer time frames are more important than the smaller ones so you have to read all the time frames to get a sense of the most probable moves
Intraday trading using Sexy Stochastics
Is anyone still following this thread?
I'm in the process of reading from the beginning, I got up to page 30 in about 2 nights! A lot of reading!!
First off, a big thanks to boxingislife for sharing his method! I've been using stochastics on a MTF setup for a while but never considered adding longer stochs on the same chart for confirmation.
I am working on the following setup, and would like your views: (for shorts):
1) Wait for the 60min stoch 5-3-3 to cross down, preferably from the O/S or O/B area.
2) Wait for the 5min stoch to pull back up, and take the next stoch signal down.
I use 13 pips SL (keeping it tight) and 26pips TP, for a 2:1 reward to risk.
I attach a potential setup to give you an idea of what I am talking about. This hasn't followed through, for now, but it's probably because the market is sideways today due to NFP later in the day.
and it's only fitting that my first post on this thread turns out to be a loss-making one!
Actually, the BETTER trades are when all 3 timeframes agree - the 4hr, the 1hr, and the 5min. Currently the 4hr is pointing up, and the 60min has been correcting downwards this morning, which is possibly why we've had a sideways move.
Here's a setup in the making:
The setup was never confirmed, as the market is ranging before the release of the NFP figures this afternoon. Sitting flat on my hands.
nice system looking forward to test it on a demo next week
Hi 4xtradercy ,
pls tell me how to attach 5-3-3 stochastic for 1 h and 4h in 1 chart?
Can you be a little more specific on how you trade your system?
Like what youre doin' !
Just a couple quick comments. First, I think Jimmer actually came up with the "slingshot" setup. It was using a longer term sto for "trend", and shorter term to highlite the pullback against that "trend", and visually it looked like a slingshot being pulled back. Buffy uses the same idea, but with a slightly different sto as long term, with 3 short term stos to form "ribbons" (but they give the same visual). And btw, Buffy is a she! lol
You have put together a nice combination, and as you say, just wait for the best setups as there will be plenty to scalp on a daily basis. This approach has the advantage of effectively seeing multiple TFs because of the use of longer term stos combined with short term stos. Having spent several years in Buffys "room", I know there is value in the approach she teaches. Looks like youve applied the theory nicely. I will be taking a close look at what youre doing. Keep up the good work.
A perspective on "Slingshots"
First, I apologize somewhat for my prior post in that I had just read Boxingislife's initial post and didnt really notice when it occurred. I responded like he had just posted it. lol Im sure my comments had been previously made by someone somewhere within the 50+ pages of posts since his original post. lol
I thought Id share some thoughts on how this approach could be utilized for scalping a steady income daily. Using his tools, and throwing in a couple add'l "trend" tools, I have outlined how one might plan his/her trades each day, and the criteria necessary to take the trades. Ive outlined the criteria on the initial chart, with some add'l observations among the 3 charts.
I would focus solely on these setups, and would typically put on at least a 2lot position, looking to take 1 off and 5 pips, 2nd at 10. If trading a 3lot based position, I would take 1 off at 5, 7, 9or10 as an example. Some might wish to trail on last as early entries may run for a notable distance. I prefer to hit targets, but thats my nature.
With patience to wait for the criteria to be met, I think you will see the potential of this methodology. The 3 charts I have posted only cover about 2 1/2 hrs of trading, so you can imagine what may be possible each day.
I provided some ideas on entry to go with the setups. Ive not had a chance to go thru the thread yet, so I hope to find some add'l insights that could further enhance what Ive shown. As always, would love to have comments, observations, etc.
Dropping down for entries
I mentioned previously that entries might be "tightened" by dropping down in TF. The charts Ive attached show the setup chart as well as a 3 multiple lower TF chart to highlite possible entries. Ive used a short term RSI to highlite these. The explanation is on the low TF chart.
Please understand that Ive made this a bit sensitive on purpose. Personally, this is how I will utilize the slingshot methodology as I like the immediate response time and tightness of entries. If the TFs selected here are a bit "short" for you, simply raise them both by some multiple which better fits you. Of course, likely fewer setups will occur each day, but the ones that do should provide larger moves accordingly. This is the trade-off.
Ive offered this simply as something to try out. Whether you use these specific tools is not important as much as the underlying methodology of essentially selling rallies in a downtrend and buying dips in an uptrend.
Nothing new here, just another way to get there. :-)
As always, comments welcome.
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