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MTF Stochastics Trading

  • #601
  • Aug 22, 2018 4:07pm Aug 22, 2018 4:07pm
H4 update

Chris

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  • #602
  • Aug 22, 2018 4:43pm Aug 22, 2018 4:43pm
Quoting ZapPow
{quote} I appreciate your advice mistakesr, I really do. But, if fib levels and BRN's were part of the decision making proccess for this system, bobby would of included it in the rules and allow us to add anything else we wanted to the posted charts. I am following the rules, and have a TE to document my trades, I'm actually the ONLY poster to this thread with a Trade Explorer.
I'm not saying you should use fib pivots or anything else but unless you take notice of important S&R levels (and that's all pivots and BRN's are) you will likely get killed using any method and especially on LTF's but each to their own. Only trying to help.
Ardua Ad Astra Per
  • #603
  • Aug 22, 2018 6:01pm Aug 22, 2018 6:01pm
Quoting mistakesr
{quote} I'm not saying you should use fib pivots or anything else but unless you take notice of important S&R levels (and that's all pivots and BRN's are) you will likely get killed using any method and especially on LTF's but each to their own. Only trying to help.

mistakesr, of course I appreciate you sharing your knowledge with me!!

I'm just not sure if this method suits me! I see everyone post straight win after win, after win, even placing entries where only a blind person would, or a coin flip was used, and still pull green pips out of a hat!! There are only 2 possible explanations for this!

I'll stick around and do some more reading, and make another attempt in a few days.

Thank you again, mistakesr!
  • #604
  • Aug 22, 2018 7:23pm Aug 22, 2018 7:23pm
Quoting ZapPow
{quote} Also, a Trade Explorer keeps individuals from ONLY posting winning trades!
I sense you're getting frustrated and losing confidence. It also sounds like you are starting to think people are not being truthful here about trades they are are reporting. If you don't want to post your results then don't. But please don't accuse others of not being truthful because their results are different than yours. And contrary to what you might think, the only person a Trade Explorer helps is the person who owns it, and I'm not even sure about that.. Do you really think I set this whole thread up, did all this work, just so I could impress you on Forex Factory? Gimmie a friggin' break.

I am concerned though that you might be doing something incorrectly, or maybe you are doing something different, I don't know, something that is causing you to have so many losing trades. It's very unusual. You and I are going to get your problem solved. I want to show you something so please do exactly what I say. Do you remember this post from August 13th? https://www.forexfactory.com/showthr...0#post11360100
I want you to follow the instructions on that post AND put a standard MACD (12, 26, 9) from your MT4 Navigator menu below your MTF Stochastic. It will look like this (I don't care what colors you use.):
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I am going to give you a short, simple assignment. I want you to scroll around on your chart with this set-up I prescribed. Take your time. Try to see what is the MTF Stochastic doing when the MACD goes above and below its zero line for the first time? What is happening with the MTF Stoch when the MACD's MA line shows bars above and below itself? Where is price in relation to the 3 MA's? Where looks like good entries and exits? Where is the MTF Stochastic during those times? Try and remember which direction the Current Time Frame Stochastic is moving in relation to the MTF Stochastic when you see these entries and exits.

This is an exercise to try and get you to be more accurate in your readings, which in turn will give you greater confidence in using the MTF Stochastic by itself to trade. I want you to see what the movements of the MTF Stochastic represent. When you trade next, use this set-up to trade. I will be surprised if you have so many losing trades. I'll be surprised if you have more than one small loss. Please do this and let me know if it helps.
  • #605
  • Aug 22, 2018 7:25pm Aug 22, 2018 7:25pm
Quoting cfudge
H4 update Chris {image}
I would like to show some trades to maybe help to show visual entries and some closed wins/losses.
Any input as to placement SL moving or re-entry or closing would be appreciated.

Chris
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  • #606
  • Aug 22, 2018 9:04pm Aug 22, 2018 9:04pm
Quoting ZapPow
{quote} I see everyone post straight win after win, after win
I am not posting anything, because I am busy with backtesting. You can do the same thing if you wanna be confident with this system. I am interested in 1H or 4H charts and I found that the best setting for backtesting in order to replace MTF stoch on 1H chart is current MTF with setting 33,6,6. I am sure you can find another settings for another TF, just needs time.
I have checked 1H EURUSD manually for 2016,2017,2018 years and it works good or very good. 2016 was the worst because of Brexit and US elections and still you would be in profit. H4 is doing not so good in 2016 as H1, but also profitable. Just you have to spend some days doing backtest manually. I am sure that this is the way - if you are not sure, just try to backtest the system.
Bobby, hope you will forgive me that I am talking about current stoch with settings 33,6,6. Probably it can be useful also for people who does not use MT4.
  • #607
  • Aug 22, 2018 10:36pm Aug 22, 2018 10:36pm
Quoting bobby2
I'm getting a lot of messages complaining that this way of trading is too difficult, too much is left to trader's discretion, confused about MTF times and signals, etc. Well, I never said it was easy. But I, perhaps wrongly, assumed most people would at least take the time to learn before whining that they couldn't do it. I warned everyone in advance in the first post that you needed at least rudimentary trading skills to make this a sustainable method. If I can do it I figure anybody can. I'm not exactly a genius. I have a feeling though that some...
Hi Bobby2,

the 3 LWMA should line up for entry rules ??
mean 12 above 57, 57 above 87 for entry buy rules.

Thanks
  • #608
  • Aug 23, 2018 3:58am Aug 23, 2018 3:58am
Well...gotta post the mistakes too, right? I made a doozy this morning 70 pip loss on two positions. I shorted early @ 1.28500 level as the stoch turned down from the 50. I shorted again @ 1.28600 when the 15 min candle ended (where I should have originally entered). Price started to go against me and instead of exiting based on the stochs taking a smallish loss and re-entering long signal that came right after, I would have made up my loss and then some. I was hoping, foolishly, that since price was down for the day that the price would bounce back down from the last swing high at 1.28800 level and it blew right past. Damnit. This is what happens when you don't follow the rules :-( I do have some 4hr trades doing very well though, 250 pips in total so far, so there's that!
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Emotion - it steals your money.
  • #609
  • Aug 23, 2018 4:15am Aug 23, 2018 4:15am
If you were trading the Euro or the British Pound, AND you were following the rules you just got a pleasant surprise. Kaaaaaa-Ching!! Congrats if you were there. Nice start. Had me worried there for a bit. It dipped about 12 pips after entry. But it was worth the wait.
  • #610
  • Aug 23, 2018 4:17am Aug 23, 2018 4:17am
Quoting bobby2
If you were trading the Euro or the British Pound, AND you were following the rules you just got a pleasant surprise. Kaaaaaa-Ching!! Congrats if you were there. Nice start. Had me worried there for a bit. It dipped about 12 pips after entry. But it was worth the wait.
Rub it in why don't ya? Why is it so damned hard to follow rules!?! Good grief

3. There are no predictions. I don't know where price will go. The stochastics will tell us when to enter and when to exit. Do not assume anything.
Emotion - it steals your money.
  • #611
  • Aug 23, 2018 4:59am Aug 23, 2018 4:59am
Quoting TheSpoof
{quote} Rub it in why don't ya? Why is it so damned hard to follow rules!?! Good grief 3. There are no predictions. I don't know where price will go. The stochastics will tell us when to enter and when to exit. Do not assume anything.
From what I could gather, I think there were quite a few shorts around the consolidation area. I don't think anybody expected the Euro to go above 1570. Now it's at 1584. The economic news out of Europe this morning wasn't exactly glowing. I'm guessing more than a few stops got taken out. I don't know what happened. On time frames above M30 it was a non-event, not even a blip on the radar. But It doesn't appear to have been purely a stop-hunt. It hasn't retreated back down yet, though Price appears to be taking a breather for the moment. How many times this month have we seen the market go into consolidation and then BAM!, a spike to new area of consolidation? Quite a few I'd say.

I wasn't trying to "rub it in". It could have just as easily spiked the other way and I would be here trying to explain why our signals dropped the ball. Its the market. Whatever can happen, will. All we can do is give it our best shot.
  • #612
  • Aug 23, 2018 5:52am Aug 23, 2018 5:52am
I trade mostly the 5 minute time-frame. But that's me. I do well there. I am terrible at predicting market moves. I've said several times where I used to hang out on the Genesis Continuation thread that I have the utmost respect for traders that consistently call market moves in advance and trade H1, H4, the Daily, and Weekly time frames. It's not about the money. I just don't have the patience for it. But it simply amazes me that they do this and do it well. And then there are traders that do not look favorably on traders like me, who hunt for scraps on the lower time frames. I don't know how many times I've heard it said that anything below H1 is a complete waste of time. What can I say? I like the way I trade and I i'm happy with the results so I really don't care about what others think about that.

But just because I'm an M5 bottom-feeder, doesn't mean you have to be one too. There is some truth to what they say about trading H1 and above. It's certainly less stressful. Less entries means lower in-and-out fees go to tour broker. You usually have more time to make decisions. There's no need to spend as much time sitting in front of your monitor. It's probably both physically and mentally healthier and you'll have more time to do other things.

Find the time frame that best suits your life-style and personality. Do what's best for you and those you care about. People might think I'm nuts because I trade from 2 a.m. till noon (CST) every day. But I enjoy it. I didn't enjoy it so much when I was learning, losing my shirt, and wondering about my sanity and business choice, but now I'm OK.

If you are having success at one level, but other levels not so much, there may be a message in that. And don't compare. Stop comparing. It'll drive you nuts. "Find yourself, and trade that way."
  • #613
  • Aug 23, 2018 6:09am Aug 23, 2018 6:09am
Just now, on "Low Impact" news, USDJPY shot up past the range high and AUDUSD pushed further down. USDCAD shot up. The Euro and the Pound did nothing. Every business it's the same. Location and timing.
  • #614
  • Aug 23, 2018 6:09am Aug 23, 2018 6:09am
I was so sure this trend going down , but I was very wrong !
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  • #615
  • Aug 23, 2018 6:22am Aug 23, 2018 6:22am
Quoting Giedrius
I was so sure this trend going down , but I was very wrong ! {image}
It probably won't make you feel any better, but you weren't alone. Don't worry. You'll be fine.
  • #616
  • Aug 23, 2018 6:26am Aug 23, 2018 6:26am
Quoting Giedrius
I was so sure this trend going down , but I was very wrong ! {image}
Hope you were able to take the next signal - you would have made back your loss. I'm having a hell of a morning myself :-(
Emotion - it steals your money.
  • #617
  • Aug 23, 2018 6:35am Aug 23, 2018 6:35am
Quoting TheSpoof
{quote} Hope you were able to take the next signal - you would have made back your loss. I'm having a hell of a morning myself :-(
No Spoof I didn't , today I'm very selective , taking just bad ones
  • #618
  • Aug 23, 2018 6:41am Aug 23, 2018 6:41am
Quoting bobby2
I trade mostly the 5 minute time-frame. But that's me. I do well there. I am terrible at predicting market moves. I've said several times where I used to hang out on the Genesis Continuation thread that I have the utmost respect for traders that consistently call market moves in advance and trade H1, H4, the Daily, and Weekly time frames. It's not about the money. I just don't have the patience for it. But it simply amazes me that they do this and do it well. And then there are traders that do not look favorably on traders like me, who hunt for...
I totally agree with you bobby i dont have the patience too trade longterm and i suck at it also i really tried too learn the Paradox system posted here by Dove alliance he is a super intelligente guy who coded hes system both for mt4 and ninja trader and take one trade pr day for 40 pips and almost never a loss and he said use 6 months and study and i did but almost every trade i took went against me probebly i was thinking the same way as most others and the smartmoney algorythms are going against the human mind....So i really look up too guys who are trading longterm and collects over a 100 pips and more of a trade...I trade 3 min...and look at 5 and 15 for shorttermtrends because i get bored looking at longer terms+i dont get it at all....So i am in and out in 5 minutes taking what i can get...
You win some you loose some do both with peace of mind
  • #619
  • Aug 23, 2018 6:41am Aug 23, 2018 6:41am
Quoting bobby2
{quote} It probably won't make you feel any better, but you weren't alone. Don't worry. You'll be fine.
No bobby it makes you feel ok when you know you did buy rules , tried to check something extra but went wrong and is non of your fault you have just to move on .
Yours words means a lot also to me , good to know that somebody is behind and can give advice , to correct , to cheer .Thanks for that.
  • #620
  • Aug 23, 2018 6:43am Aug 23, 2018 6:43am
Looking good on EURAUD 4hr

Chris

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