I'm practicing with the strategy. Is this a good setup?
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DislikedI'm reading with interest this journal and what to thank SpudFyre for his great ability to teach difficult insight in a really simple way easily to understand. I hope that he will continue to stay here for a long time to help us to improve our trading
Moreover I'd like to give my little contribute here, sharing this cool Stochastic indicator that give a whole overview about all different stoch timeframe in a single window , hope you like it
Cya,
SkylineIgnored
DislikedHi Skyline,
Can you please add a pop-up and email alert to your indicator so I can
attach it to all currency? The rules are, send an alert when the 15M, 30M,
1HR and 4HR are all in overbought or oversold territory.
Thanks!Ignored
DislikedThanks Spudfyre. That's probably why I'm -20 pips now.
Very nice system you have here and thank you so much for sharing.
Do you know the best time to trade this method of yours in EST time?Ignored
DislikedHi Skyline,
Can you please add a pop-up and email alert to your indicator so I can
attach it to all currency? The rules are, send an alert when the 15M, 30M,
1HR and 4HR are all in overbought or oversold territory.
Thanks!Ignored
DislikedEverything you say is absolutely correct about trends. This is why I say that we use the 4H to look for our trade to start. We want to enter in a strong trend.
However, what happens to the next candle of the 4H is soley based on what the 15M/30M/1H movements do. The 4H will not dictate how the lower time frames are going to move next. The big boys don't trade simultaneously.
The 4H is a constant zig zag on it's way down and up and few small traders can ride the highs and lows from bottom to top.
So, what we are trying to do is enter on the 4H strong trend. Then we want to ride that trend and be "safe" doing it so we win.
With the other time frames in sync we can progress down the line 15-30-1H growing into the strong trend or from my point of view continuing to build the trend.......but we also know that as we move down the line the shorter time frames will be reversing within the 4H trend as the stochastic expires and turns at the peak of it's current cycle.
So what we want to avoid is riding a 1H reversal move that wipes out all our pip profit or takes us into a loss....which we are in far greater risk of when the short frames are moving against the long term trend. Again it is the short term that will be affected by the short term moves...not the long trend.
As such, we know that if we went long in the 4H and the 15/30/1H all go long then we are pretty well assurred of making pips.
If on the other hand all the time frames reverse...that reversal is not going to start at the 4H...it will start at the 15M and then progress to the 30M and then the 1H...eventually showing it's ugly side on the 4H. Keep in context I am working within our trade.Ignored
Disliked- the day chart is the banks & countries & as long as they are pushing a pair one way
it must go that way.
Ignored
DislikedOK, this seems to be working. Had to download and reinstall Interbank to get the compiler working.
Here's what it does.
Attach to any chart, any timeframe. It will use the pair from the chart it is on, but uses its own timeframe settings.
Set the high limit and low limit. Default are 80 and 20, respectively.
If the 5,3,3 stochastic main and signal are all below the low limit, or all above the high limit, on the 15, 30, 1H, and 4H, you will get a popup alert and, if the Sound option is true, will play a sound.
It will give the alert again on the next bar.
If EmailAlert is set to True, it will send one email. You will have to re-initiate the indicator or it won't send another email. Detach and re-attach.
QUESTION: Should I make it so that if any 3 adjacent timeframes agree, the alarm sounds?Ignored
DislikedTEB, your whole post is great info, makes sense.
However, I think all that Spud is saying, as I understand it, is that the daily chart isn't going anywhere the 4H didn't go. Smaller, short term moves add up to bigger, long term moves. Short term moves are easier to see on short term charts.
We want to trade off the longer term, but we don't want short-term whipsaws to take our profits.Ignored
DislikedTEB, your whole post is great info, makes sense.
However, I think all that Spud is saying, as I understand it, is that the daily chart isn't going anywhere the 4H didn't go. Smaller, short term moves add up to bigger, long term moves. Short term moves are easier to see on short term charts.
We want to trade off the longer term, but we don't want short-term whipsaws to take our profits.Ignored
DislikedNo its the reverse
the 4 hour chart is not going anywhere the day chart is not going
because the day chart shows the really big money
& the weekly the even bigger money etc.Ignored
DislikedWell, if Spud will say it's okay and coordinate this, some of us could try the D1/H4/H1/M15 setup and see what will it give... it is his thread...
Spud... this one is for you... one day you said... "I resigned to 10 PIPs spreads"... I am still on it, finally by googling "MT4 ECN" and "MT4 Currenex" I located these three top options [6 PIPs or less]... MT4s are at download areas...
option A... am not sure about this company strength
option B... one of the strongest I think [see Prozentor FX Forecasting]
option C... interesting [CATS at 8-10% return/MT ...?]
A word from experienced traders as to which one would be best to open an account with will be appreciated... thanks
*** Good points Kevin...Ignored
DislikedHey TEB,
Regardless of the logic of price action, I think Spud is emphasizing STOCHASTICS. And on this point I would like to say that IT IS TRUE that lower time frame STOCHASTICS do in fact have an impact on higher timeframe STOCHASTICS. While it is true that forex has some fundamental underlying force guiding all short-term traders, what do you think all those big day candles are made of? They are made of 4 hour candles, 1 hour candles, 30 minute candles, etc. And this is how stochastics build upon one another.
I see what you are saying, but for the sake of Spud's method, what he is saying is also true.
Regards,
KevinIgnored
DislikedDon't think I could say it better. Same goes for Blueruby's comment. I think we are getting a little off the topic here and this will be my final comment on trends...other than to answer anyone's questions relating to how we trade.
What really matters is how we use the information and from my seat I have spelled out how I trade this. Whether big boys flip the whig on the day chart really doesn't concern me...as long as we make pips. Whether we make those pips in the up zig or the down zag of the down trending day chart really doesn't matter....we are like an atom in the universe with our trade...you won't even spot our move in the day chart.
When I speak of trends...I speak in the context of our trade window.Ignored
DislikedDon't think I could say it better. Same goes for Blueruby's comment. I think we are getting a little off the topic here and this will be my final comment on trends...other than to answer anyone's questions relating to how we trade.
What really matters is how we use the information and from my seat I have spelled out how I trade this. Whether big boys flip the whig on the day chart really doesn't concern me...as long as we make pips. Whether we make those pips in the up zig or the down zag of the down trending day chart really doesn't matter....we are like an atom in the universe with our trade...you won't even spot our move in the day chart.
When I speak of trends...I speak in the context of our trade window.Ignored