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MTF Stochastics Trading

  • #761
  • Sep 4, 2018 2:25am Sep 4, 2018 2:25am
Quoting cuchuflito
{quote} Hi Boby, your thread, you can do whatever you like. BUT I saw trades you posted, where you were breaking your exit rules yourself...it just happens...
I see there might be some confusion here... I don't think bobby ever claimed that this is a holy grail system with miracle indicators and that we should blindly follow entries and exits as described. Some discretion is still required. The signals cannot be followed blindly in the context of the live market. The exercises suggested by playing with the blank chart were more to show what a little discipline can do by following the signals blindly and how effective they can be. Also, as we are well aware, the MTF takes more bars to complete compared to the CTF (wrongly described by someone as repainting) and from the rules posted: "It may be prudent to wait for the MTF Stochastic indicator to complete its cycle (wait for a complete, permanent record), but part of a traders job is trade management. Market conditions may influence a trader to use their own discretion in interpreting the position and action of the indicator. A trader should always do what they feel is best for the trading account."
And again about exits: "(Suggested exits are according to stochastic signals. Of course traders can exit at their own
discretion for valid reasons.S&R, Round No.s, etc)"
I think bobby's rant had more to do with the fact that the thread was focusing more and more on the modification of indicators and also some people seemed to be making up rules of their own that would affect the original philosophy. Bobby's request in many occasions to use the original template was not lightly devised imho. It's well known how many threads on FF easily deviated from the original intentions and ended up dying by posting different looking charts, and indis and ideas, which would twist the OP's suggestions.
Let me reiterate: this is not the HG, some discretion might be required both for entries and exits still without losing the original main concept. Up to you what you do with it. Just my 2c.
I still hope in my heart that bobby would reconsider his decision and come back, not to police the thread (which hopefully will not be needed) but to share more of his experience with his strategy...
  • #762
  • Sep 4, 2018 4:33am Sep 4, 2018 4:33am
Quoting mistakesr
{quote} I don't think you get it mate but I'll leave it there. Anyhoo, here's a better start today after a 2% hit yesterday through making stupid mistakes. Got out a few pips early on this one, just another psychological battle after a losing day yesterday. {image} Better effort with this one. {image} Green beans!
I second you, mate. Psychology always plays a big role, even more when we lose thanks to our own mistakes and by not following our own rules. But you do prove that when we not let ourselves succumb to it, recovery and further gains are possible if we keep exploiting our edge.
  • #763
  • Sep 4, 2018 11:16am Sep 4, 2018 11:16am
check this chart you can see what your trading using the guppys
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  • #764
  • Sep 4, 2018 3:04pm Sep 4, 2018 3:04pm
Quoting roddy321
check this chart you can see what your trading using the guppys {image}
What did I say earlier about no need for police? LOL
No way that bobby will ever come back...
  • #765
  • Sep 4, 2018 4:27pm Sep 4, 2018 4:27pm
Everything was already explained by Bobby. There is enough info for anybody. Next thing is just about personal staff - if this person can use such info for profitable trading or not. More info will not help, in my opinion. Bobby left after he did his best.
  • #766
  • Sep 4, 2018 5:06pm Sep 4, 2018 5:06pm
Quoting 4fxonly
{quote} What did I say earlier about no need for police? LOL No way that bobby will ever come back...
They just don't get it lol and no he won't and I don't blame him one bit.

I've always said, systems are only 10%-20% of trading anything, the rest is inside our own heads. We are always the weakest link.
Ardua Ad Astra Per
  • #767
  • Edited 2:27am Sep 5, 2018 2:15am | Edited 2:27am
Attempting a re-entry short on AU M1. Stop is quite close behind previous M5 last high. Treating it as a scalp on the momentum wave so stop will be moved pretty quickly to b/e. If it doesn't break yesterday's low with force I will close.

EDIT 8:18 - Stop moved to b/e + 1 after seeing 10 pips. Free ride now. By the way, the times I mention are GMT
EDIT 8:24 - Stop moved to +13 after seeing 24. That's 1:1 R:R.
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  • #768
  • Sep 5, 2018 2:38am Sep 5, 2018 2:38am
Closed at 18 pips as after all that was an M1 trade, stochs are heading up on that TF and also, last but not least, this is a weekly support. That's 1.5 R:R.
If I can shed a word about exits, that's what I was meaning in my post yesterday, and I think it doesn't go against bobby's philosophy. I first let move and then banked my pips based on my vision of the current market conditions. I'm happy with my management and I hope to keep such kind of discipline in the future.
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  • #769
  • Sep 5, 2018 4:17am Sep 5, 2018 4:17am
Testing on a demo account with Dax. I don't know the instrument at all. For now it's ok and stop at b/e + 1 but looking at the past though, maybe the MTF settings are too slow. I'm not sure if it fits bobby's system. Will keep an eye on it when I'm finished with my real trading.

EDIT 10:21 - Reached 30 pips in no time. Probably just luck. I'm trailing at 20 pips stop. Just curious where it will get. Dax can move far and quickly both ways .
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  • #770
  • Sep 5, 2018 5:05am Sep 5, 2018 5:05am
Closed manually at 30 pips as the stochs seemed to be heading up quickly. The small b/e trade was taken with a wrong lot so I closed it asap and reentered with the correct stake. Now before I get crucified by someone very attentive and fussy, who will have noticed my settings for the MTF are different, as I said before, the Dax seems to require a faster stochastics because of its fast changing nature. So I'm not discarding bobby's original settings which remain extremely valid for currencies, but I'm only trying to adjust it to this peculiar behaviour. I might be wrong of course. Will keep an eye on it for the future. I just wish that trade was real (it saw 47 pips)... LOL
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  • #771
  • Sep 5, 2018 5:41am Sep 5, 2018 5:41am
One more go at my opinion about rules. This a long signal according to the rules, but good sense suggests me in this case to wait and see, as the move up was too quick. I'll wait for a good retracement either on M1 or M5. I might be wrong, as I don't know the Dax behaviour very well and it might just take off and never look back, but my guts tell me to step aside right now. To answer once again who was questioning not following the rules, imho a little discretion is required. I'm pretty sure bobby wouldn't take every signal that comes along.
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  • #772
  • Edited 6:25am Sep 5, 2018 5:58am | Edited 6:25am
Now I'm long on an M1 more or less solid retracement. Stop is wider though, below the previous congestion on M5. Let's see if it goes.
P.S. - Once again I took a wrong lot and closed it a b/e LOL

EDIT 12:13 - At 15 pips now. Stop moved to b/e+1. Maybe a bit too early considering the wild swings that Dax can make, but I will stick to it for now.
EDIT 12:30 - Taken out at +1. Lunch time and also it went close to a previous support turned out as resistance in hindsight. And also (hindsight again) there was some congestion on the left, but still it managed to move a fair amount in favour. This Dax looks quite promising with this system, but early days.
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  • #773
  • Sep 5, 2018 8:15am Sep 5, 2018 8:15am
was anyone trading just now when the huge 100 pip spike came from out of nowhere?

got stopped out on eur/jpy for 25 pips, and my tp triggered for 40 pips on gpb/aud. Wish i hadn't of set the tp now as it is the first time i set one......

Bobby says he trades with visual stop loss but no hard stop loss.

This is one of the situations where i am thankful of using a hard stop..........
  • #774
  • Sep 5, 2018 8:28am Sep 5, 2018 8:28am
Quoting kain775
was anyone trading just now when the huge 100 pip spike came from out of nowhere? got stopped out on eur/jpy for 25 pips, and my tp triggered for 40 pips on gpb/aud. Wish i hadn't of set the tp now as it is the first time i set one...... Bobby says he trades with visual stop loss but no hard stop loss. This is one of the situations where i am thankful of using a hard stop..........
Hi kain. I stopped trading in the morning as my daily target was reached. Not sure if I should be grateful or pissed off seeing what happened. As for me anyway, I could not trade with a mental stop, first because I got burnt in situations like this in the past, and second because I don't trust myself pulling the trigger if things go pear shaped, as this also happened in the past. I can still hear that little voice telling me things might turn good again, so with all the discipline in the world I still have to rely on a set SL.
  • #775
  • Sep 5, 2018 8:32am Sep 5, 2018 8:32am
also wanted to say that I don't see how people can backtest this system, as if the m15 stoc lands touching the 50, or a millimeter through it, if on the next few m5 bars you get bears ...then the stoc will actually repaint slightly and stop touching the 50. and yes I have observed this on the normal m15 stoc at 15,30,45 and 00 past the hour.

having said all this, ..so far i've had more winners than looses and more profits than losses when forward testing this strategy in live market ...so perhaps at the end of the day repainting isn't that much of an issue
  • #776
  • Sep 5, 2018 8:36am Sep 5, 2018 8:36am
Quoting 4fxonly
{quote} Hi kain. I stopped trading in the morning as my daily target was reached. Not sure if I should be grateful or pissed off seeing what happened. As for me anyway, I could not trade with a mental stop, first because I got burnt in situations like this in the past, and second because I don't trust myself pulling the trigger if things go pear shaped, as this also happened in the past. I can still hear that little voice telling me things might turn good again, so with all the discipline in the world I still have to rely on a set SL.

I could use a visual stop perhaps if trading H4 or something ...as an unforseen spike wouldn't hurt that much

but on m5 something like that potentially could ruin your account if you got caught up on it.

when my trades triggered today, I noticed there was no slippage. and tbh i am impressed. as my last broker would have slipped about 10-15 pips during a spike like that......
  • #777
  • Sep 5, 2018 9:00am Sep 5, 2018 9:00am
Quoting kain775
{quote} I could use a visual stop perhaps if trading H4 or something ...as an unforseen spike wouldn't hurt that much but on m5 something like that potentially could ruin your account if you got caught up on it. when my trades triggered today, I noticed there was no slippage. and tbh i am impressed. as my last broker would have slipped about 10-15 pips during a spike like that......
Indeed...there have been two ~100 pip spikes on the five minute GBPUSD in the last several days. I used to trade with no stop either but changed that notion after thinking about these huge spikes. I caught one from last week +90 pips as I was already in a trade and boom! up she went ;-)
Emotion - it steals your money.
  • #778
  • Sep 5, 2018 9:12am Sep 5, 2018 9:12am
Quoting TheSpoof
{quote} Indeed...there have been two ~100 pip spikes on the five minute GBPUSD in the last several days. I used to trade with no stop either but changed that notion after thinking about these huge spikes. I caught one from last week +90 pips as I was already in a trade and boom! up she went ;-)

How do people handle the big spikes when they go against them?

I wasn't in a trade but marked a recent entry on usd/cad. The big spike would have taken most people's stops out tbh, and as it happened so fast there was no signal to gtfo
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  • #779
  • Sep 5, 2018 10:51am Sep 5, 2018 10:51am
Thanks bobby for writing this thread. This trading system is really great. I just want to express my little idea to trade with it more confidence.
At the first step of this system, we will look for the MTF crossing 50 to enter a trade, but I think we should change our mind to look for current stoch crossing 50 instead of MTF. Current stoch (lower TF)= entry point. MTF stoch (higher TF)= trend/ confirmation.

BUY Entry (H1/ H4)
1. Current stoch crossing 50, MTF above 50 and with the same direction.
2. Current stoch crossing 50, MTF rise from below and cross 50 within 3 bars of H1 and no strong momentum (price not rise too much).

BUT EXIT (H1/ H4)
1. MTF enter OB zone 80 and green/ red line cross down.
2. MTF not enter OB zone 80, but Current stoch cross down 50 and MTF direction turns down.

H1/ H4 works very well. Please comment. Thank you.
  • #780
  • Sep 5, 2018 4:44pm Sep 5, 2018 4:44pm
Quoting ktk08b
Thanks bobby for writing this thread. This trading system is really great. I just want to express my little idea to trade with it more confidence. At the first step of this system, we will look for the MTF crossing 50 to enter a trade, but I think we should change our mind to look for current stoch crossing 50 instead of MTF. Current stoch (lower TF)= entry point. MTF stoch (higher TF)= trend/ confirmation. BUY Entry (H1/ H4) 1. Current stoch crossing 50, MTF above 50 and with the same direction. 2. Current stoch crossing 50, MTF rise from below...
The reason Bobby left this thread is because of what happens on most threads, people find a system that suits them and given to them by OP's that have years of experience but then they want to change the rules. There's no problem in you changing rules to suit yourself but please do it in private and not on the thread, the few people still here are more than happy with the rules listed on page 1, they work.
Ardua Ad Astra Per
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