- #1,042
- Edited 1:19am Mar 20, 2018 12:12am | Edited 1:19am
- Joined Oct 2010 | Status: Trader | 1,536 Posts
I spotted this in real time today but it wasn't a winner did I do anything wrong? {image}
2nd, you were using the Stoch MTF indicator, which is colored. Why are you using it if you're going to ignore the signals? I don't use it, but if I did, it would be because I trust the signals. You were also using ASCTrend 2TF Matrix, another colored indicator, that had indicated a possible change in direction. The Genesis Matrix was also solid red. AND both stochastics were headed down.
And 3rd, this trade was taken near the end of the Asian Session, about 80 minutes before the London Open and 20 minutes before Frankfurt. Besides the period between Sydney Open and Tokyo Open, the last part of the Asian session is prime time for trading losses. Very little volume and with Tokyo screwing around before the Frankfurt Open which is one hour before London. This trading method is best used from London Open to London Close (IMO). Oh it will still work at other times, but the PROBABILITY of getting the desired results are diminished uring those trading sessions with diminished volume.
Below is your chart, one of my charts with your indicators, and last is chart I use to trade for real. You entered at #1 and exited at #3 which should have been a loss of about 4 pips. Had you exited at #2 when it was not looking good for price to continue up, you would have been out with no loss and maybe a pip for your troubles.
On my chart, the last one, I marked where I probably would have entered and exited. I don't trade this pair, but the Euro has been a pain in the butt to trade for a few days now.The entry and exit might be off a pip or 2, but no way that trade is a loss.
- #1,046
- Mar 20, 2018 9:01am Mar 20, 2018 9:01am
- Joined Oct 2010 | Status: Trader | 1,536 Posts
{quote} hi, thanks for the feedback I use mtf stocs because the other mtf stocs do not update the stoc until every 15 minutes has passed and i find it annoying not knowing where the stoc is currently pointing ...whilst on mtf coloured stoc it will show where it's pointing in yellow, and ok, I must of interpreted you wrong earlier because I thought to close the trade when the mtf stoc crossed back against the 50 and my charts are gmt+3 ...it was 12:05 gmt when I saw that trade not asian session ACStrend I'm not 100% sure how it works, I thought it...
But, IF you are going to make trading decisions with them, it would be nice if you understood what they do and how to interpret what they show.
kiki215fr gave you a pdf. file to read (post 1,041). Did you read it? It will give you a better idea about using the MTF stochastic and ASCTred indicators than I can. Maybe my examples weren't so clear.
- #1,047
- Edited 9:20am Mar 20, 2018 9:05am | Edited 9:20am
- Joined Oct 2010 | Status: Trader | 1,536 Posts
- #1,055
- Edited 9:30am Mar 22, 2018 9:18am | Edited 9:30am
- Joined Oct 2010 | Status: Trader | 1,536 Posts
Could have done a little better on the exit here. Oh well.
- #1,058
- Mar 22, 2018 10:09am Mar 22, 2018 10:09am
- Joined Oct 2010 | Status: Trader | 1,536 Posts
GU owed me some pips 
