EDIT: There is a new update available starting from post 181.
This update reflects an "adjustment" made to the overall strategy, offering a simplification as an interim measure while I continue trying to come up with a working indicator for the main strategy that is presented up until that post. Where the main strategy closely relates to SPUD's Multiple Stochastic strategy, the strategy "adjustment" starting at Post 181 relates to what I am call the FIBO STOCH and is a simpler approach with fewer rules and fewer entry / exit conditions.
Additionally, please be aware that in Post 5below, which outlines common Terminology being used, there is an error when describing C1 and C2. As I am unable to edit that post now to correct the error, please be aware that C1 refers to the current candle close, and C2 refers to the previous candle close, and NOT the other way around.
BACKGROUND AND SOME BASIC RULES
Hello FF members.
It is my pleasure to be finally introducing this new thread as a way of further exploring an idea that was originally introduced to this forum by Spudfyre.
All credit goes to Spud for his work. I am merely taking an idea that was his to begin with and further developing it as I understand it. To those reading this who have not been introduced to the basic concept behind the strategy, please go and read The Stochastic Thread Theory, including the .PDF file that clearly explains the strategy outline.
I feel that Spud has hit upon a very powerful idea that has untold potential, and after countless hours of research and analysis, studying his multiple stochastic indicator and its nuances and behaviours, I have further developed the original idea into a comprehensive strategy complete with indicator / alert function that will provide appropriate signals for entry and exit.
Why am I not posting this indicator / strategy WITHIN the original thread? Good question! Whilst the following ramblings are based on Spud's theory, I have taken his original idea and completely turned it into a functional indicator and strategy which incorporates new ideas and additional indicators to make the strategy consistently profitable. As such, it seems appropriate to give this new strategy its own space for discussion, evaluation and development. I don't want to be seen as "hijacking" the original thread, a thread which has a ton of merit in its own right.
I will be "drip-feeding" the information to the thread over several days, because there is simply too much information to be shared in one posting. Breaking it up into small sections should make it easier to "digest".
Finally, when everything has been laid out, I will post the indicators, template and screenshots of trade setups and exits, re-entries and so on. This way there should be a good understanding of how everything should work up front and people don't go blindly downloading the indicator and expecting to earn pips instantly. There is still the need for human analysis - it will not become a pip-producing machine until you understand how it operates.
Before we go any further though, lets cover some of the basics of the thread and the rules that I need to insist upon, for everybodys benefit.
1) Respect:
This system has been designed over countless hours, as previously mentioned. The indicators that are utilised in the strategy do the job well enough to not require further tampering, and there is certainly no need to introduce new ones.
Just like the old saying goes, Why fix it if it ain't broke? So please do not post additional indicators or try to add, modify or change the strategy in any way. Doing so is an insult to the sheer amount of time and energy I have placed in getting to this point. Instead lets just focus on learning the strategy that is presented, share our results and screen-shots from successful trades, and help each other get the most out of the experience, focusing on what is already freely available and not getting distracted.
Having said all that however, if you honestly feel that there is a "bug" in the system somewhere, I am open to you sending me a PM and I will investigate. If I deem your suggestion will enhance the indicator or strategy in some way, I will work on it and post an update.
2) Positivity is welcome - negativity is not:
The lifeblood of any thread is the positive energy and enthusiasm that people bring to it. There is simply no need for negativity of any kind.
Whilst the strategy I am presenting here works perfectly well for me, I do understand it may not work for all; there is no perfect strategy which works for everybody. So if you are such a person and you find yourself wondering what all the fuss is about, rather than offering your criticism and negativity, please just quietly go elsewhere in search of what it is you are after. Negative comments are counter-productive and serve no purpose here.
Essentially, I am referring to the Trader's Code of Conduct, which is available for people to read HERE: (scroll down a little way until you find it).
Next, a little about me and how I see indicators as offering us a certain "language" which we can use to understand the market.
This update reflects an "adjustment" made to the overall strategy, offering a simplification as an interim measure while I continue trying to come up with a working indicator for the main strategy that is presented up until that post. Where the main strategy closely relates to SPUD's Multiple Stochastic strategy, the strategy "adjustment" starting at Post 181 relates to what I am call the FIBO STOCH and is a simpler approach with fewer rules and fewer entry / exit conditions.
Additionally, please be aware that in Post 5below, which outlines common Terminology being used, there is an error when describing C1 and C2. As I am unable to edit that post now to correct the error, please be aware that C1 refers to the current candle close, and C2 refers to the previous candle close, and NOT the other way around.
BACKGROUND AND SOME BASIC RULES
Hello FF members.
It is my pleasure to be finally introducing this new thread as a way of further exploring an idea that was originally introduced to this forum by Spudfyre.
All credit goes to Spud for his work. I am merely taking an idea that was his to begin with and further developing it as I understand it. To those reading this who have not been introduced to the basic concept behind the strategy, please go and read The Stochastic Thread Theory, including the .PDF file that clearly explains the strategy outline.
I feel that Spud has hit upon a very powerful idea that has untold potential, and after countless hours of research and analysis, studying his multiple stochastic indicator and its nuances and behaviours, I have further developed the original idea into a comprehensive strategy complete with indicator / alert function that will provide appropriate signals for entry and exit.
Why am I not posting this indicator / strategy WITHIN the original thread? Good question! Whilst the following ramblings are based on Spud's theory, I have taken his original idea and completely turned it into a functional indicator and strategy which incorporates new ideas and additional indicators to make the strategy consistently profitable. As such, it seems appropriate to give this new strategy its own space for discussion, evaluation and development. I don't want to be seen as "hijacking" the original thread, a thread which has a ton of merit in its own right.
I will be "drip-feeding" the information to the thread over several days, because there is simply too much information to be shared in one posting. Breaking it up into small sections should make it easier to "digest".
Finally, when everything has been laid out, I will post the indicators, template and screenshots of trade setups and exits, re-entries and so on. This way there should be a good understanding of how everything should work up front and people don't go blindly downloading the indicator and expecting to earn pips instantly. There is still the need for human analysis - it will not become a pip-producing machine until you understand how it operates.
Before we go any further though, lets cover some of the basics of the thread and the rules that I need to insist upon, for everybodys benefit.
1) Respect:
This system has been designed over countless hours, as previously mentioned. The indicators that are utilised in the strategy do the job well enough to not require further tampering, and there is certainly no need to introduce new ones.
Just like the old saying goes, Why fix it if it ain't broke? So please do not post additional indicators or try to add, modify or change the strategy in any way. Doing so is an insult to the sheer amount of time and energy I have placed in getting to this point. Instead lets just focus on learning the strategy that is presented, share our results and screen-shots from successful trades, and help each other get the most out of the experience, focusing on what is already freely available and not getting distracted.
Having said all that however, if you honestly feel that there is a "bug" in the system somewhere, I am open to you sending me a PM and I will investigate. If I deem your suggestion will enhance the indicator or strategy in some way, I will work on it and post an update.
2) Positivity is welcome - negativity is not:
The lifeblood of any thread is the positive energy and enthusiasm that people bring to it. There is simply no need for negativity of any kind.
Whilst the strategy I am presenting here works perfectly well for me, I do understand it may not work for all; there is no perfect strategy which works for everybody. So if you are such a person and you find yourself wondering what all the fuss is about, rather than offering your criticism and negativity, please just quietly go elsewhere in search of what it is you are after. Negative comments are counter-productive and serve no purpose here.
Essentially, I am referring to the Trader's Code of Conduct, which is available for people to read HERE: (scroll down a little way until you find it).
Next, a little about me and how I see indicators as offering us a certain "language" which we can use to understand the market.