Almost an exact repetition of this morning. First trade loss of 15, second trade profit of 30. Fine by me if it continues in this way.
Attached Image (click to enlarge)
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- #202
- Jul 12, 2018 6:07am Jul 12, 2018 6:07am
- Joined Oct 2010 | Status: Trader | 1,536 Posts
GBPUSD short a few minutes ago. Happened fast. +25 pips 
- #207
- Jul 12, 2018 7:47am Jul 12, 2018 7:47am
- Joined Oct 2010 | Status: Trader | 1,536 Posts
Couldn't resist. 
- #210
- Jul 12, 2018 9:06am Jul 12, 2018 9:06am
- Joined Oct 2010 | Status: Trader | 1,536 Posts
Took +4 and I'll count my blessings on that trade. I'm up about 29 pips today. Think I'll just watch from the sidelines for a bit. 
Hey bobby,
I just read through the whole thread, and I like what you shared so far.
The MTF system looks simple to learn and hard to master at first glance.
When i have time i will try to fit my personal MM approach on the system and see what happens.
Since its really hard to backtest those kind of stuff it will be the best to forward test it on a small account (i dont like demos).
Usually i try to have a fixed MM system. It looks like you are more flexible with your SL and TP decisions.
Thats a skill i havent mastered yet, so maybe this system will show me the way.
My current system is very boring to execute but in the long run it works.
But since its so boring im constantly looking for new stuff that fits to me and im glad i found this thread
When i start to trade your system i will try to post some trades, or maybe start a trade explorer.
I just read through the whole thread, and I like what you shared so far.
The MTF system looks simple to learn and hard to master at first glance.
When i have time i will try to fit my personal MM approach on the system and see what happens.
Since its really hard to backtest those kind of stuff it will be the best to forward test it on a small account (i dont like demos).
Usually i try to have a fixed MM system. It looks like you are more flexible with your SL and TP decisions.
Thats a skill i havent mastered yet, so maybe this system will show me the way.
My current system is very boring to execute but in the long run it works.
But since its so boring im constantly looking for new stuff that fits to me and im glad i found this thread
When i start to trade your system i will try to post some trades, or maybe start a trade explorer.
- #218
- Jul 13, 2018 12:24pm Jul 13, 2018 12:24pm
- Joined Oct 2010 | Status: Trader | 1,536 Posts
i watched the EUR/USD 5 min chart today, and my question is, how long do you actually wait when the mtf stoch is crossing the 50 line? because sometimes there is a cross, and the ctf is also pointing in the right direction, but 15-30 min later it repainted. Are we waiting until it cant repaint or what kind of filter do you use because especially in ranging markets like today, there are many false signals in the live chart, that arent visible 30 min later.
Now, to your questions about waiting to enter and the re-painting of the MTF Stochastic, and you asked about the 5 minute time frame, but the same holds true no matter which TF you're looking at where the MTF Stochastic is available.
".....how long do you actually wait when the mtf stoch is crossing the 50 line?" "....sometimes there is a cross, and the ctf is also pointing in the right direction, but 15-30 min later it repainted. Are we waiting until it cant repaint..... The answer is not "how long?" we wait, it's "what we see" when it occurs. I want to see the MTF Stochastic at or having just crossed the 50 line AND the Current Time Frame (CTF) Stochastic moving in the same direction. Ideally I would like to see that the CTF Stochastic has passed the 50 line just ahead of the MTF Stochastc or at least at the same time. I am wary of a CTF Stochastic that lags behind the slower MTF Stochastic. Upon seeing this occur we have a decision to make. Enter or don't enter. It's decision time. We are not waiting for anything. How do we know? Know what? Oh, how do we know if that signal will result in profit or loss? The truth is we don't. It's called a High Probability signal for a reason. Nothing is cerertain. No promises. No guarantees. But the probability of successfully choosing the best trades is when everything I described above happens. If you watch these signals long enough you will see what I mean. You have to trust the signals. It's the only way you can use this way of trading.
Also if you watch it for too long, the opportunity will have vanished and you are imagining what might have, could have, should have, been.
RE: Repainting: I have had this debate about repainting indicators so many times it's not funny anymore. Everyone here should know the difference between repainting and non-repainting indicators. The MTF Stochastic Indicator that we are using does not repaint! Why m I making such a big deal out of this? Because if I let it go 2 things will happen. 1) The indicator gets a bad rep just by association. "Psst, I heard that indicator repaints." "Oh, it looks good on the static charts. Try using it live. Mercy! It repaints!!" Which is not true. And 2) Because of the debate about whether it is or it isn't, we waste a lot of time arguing a moot point. ALL MTF indicators need the designated time that they represent to complete their signal. Oscillators, by their very nature are designed to represent changes in price as they happen. If you are see a different thing than you saw 15 or 30 minutes ago, it means things have changed.
Here is a blank 5 min. chart with only the MTF Indicator.
Now here is the same chart (slightly enlarged) with lines showing when the indicator changed course even slightly, but permanently.
If you look at the times those lines represent, every one of them is 15 minute marker. Now let's look at the same chart, with time lines and price bars(color lightened for better visual.)
Now let's look at a full chart with the CTF Stochastic (again lightened for this sampling)
Here is what I see.
I hope this answers the questions and I hope it helps somebody. Stay green everyone
- #220
- Jul 13, 2018 5:01pm Jul 13, 2018 5:01pm
- Joined Oct 2010 | Status: Trader | 1,536 Posts
Thanks for your detailed answer. I forgot that the word "repaint" has such a bad connotation, and it misses the point i was wondering about. Basically i was asking myself if you would take a nice setup at lets say 14.05, or would you wait until the current 15 min candle is finished or nearly finished. And if you took a trade at 14.05, but when the 14.15 candle is finished the setup is not valid anymore, do you just cancel it? Im just wondering about the timings with this strategy because my experience with such an indicator is limited and im trying...
. But if you took the signals I marked on the chart below, you still made a profit. If you were fortunate to have caught the Frankie short or hopped on at the London Open you made out even better. All I can tell you is consolidation before trends is common, it's a giant PITA, it's part of the business, and the indicator that tells you beforehand that a price move will not be going as high or as deep as you would like in the future does not exist.When you have a chance put a 60ema on your 5 min EU chart for today. (I won't do it because it's against my own rules
). You will see what happened with Price. The stochastics didn't lie.