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MTF Stochastics Trading

  • #821
  • Sep 16, 2018 6:45am Sep 16, 2018 6:45am
Quoting fullaforex
{quote} Never said it didn't
I know
what i try to imply, may be you have something to inform something that is not here.
since you have other references.
Profit growth tells you the trader ability.
  • #822
  • Sep 17, 2018 12:41am Sep 17, 2018 12:41am
If I am allowed a couple of cents more, to further (and humbly) reply to those who insist on being legitimate about posting different charts and methods to "improve" bobby's idea, I urge them to read post #41, especially the bit about purpose:
"All I ask is if you post charts here please use the template from the 1st post. Why? I've seen it a thousand times, and in every single instance the thread gets hijacked. The purpose of the thread is to explore the potential profitability using these charts, exactly as they are."
That reinforces what mistakesr was pointing out in post #811 (or viceversa LOL).
Also, from the same post #41: "If you are using this method to trade, please show us your results with a posted chart. Don't be shy. This thread isn't intended to be the bobby2 show. Please share your results with us."
If still more explanation needed, for those who haven't noticed, over the weekend bobby edited his first post to better explain his reasons to leave and also posted the original rules and indicators again.
  • #823
  • Sep 17, 2018 12:57am Sep 17, 2018 12:57am
Dipping my toe in EU
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  • #824
  • Sep 17, 2018 1:06am Sep 17, 2018 1:06am
UPDATE. Closed at what I see as a resistance on H1. Being my first trade I'm less adventurous and want to see pips in the bank.
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  • #825
  • Edited 4:35am Sep 17, 2018 3:23am | Edited 4:35am
I'm short on Dax, late entry, been in red for a while, watching it closely because of the time of the day.
P.S. On this broker the pipsometer doesn't work properly, so divide the pips by 10.

LATE UPDATE: I had to leave and am just back. I decided to close at b/e after seeing 9 pips and congestion forming.
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  • #826
  • Sep 17, 2018 8:27pm Sep 17, 2018 8:27pm
Crap entry, exit was early as there was a BRN and R38 pivot 5 pips North but look at the stoch, it rarely lies. I'll take the 2.2% half way through the Asian session any day of the week.

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Ardua Ad Astra Per
  • #827
  • Sep 18, 2018 3:02am Sep 18, 2018 3:02am
WHAT NOT TO DO! I entered short and although I was aware of the support (more evident on higher TFs), I didn't bank my pips and waited for the price to go against me, I didn't close it when the MTF moved past the 20 zone and, worse, I averaged my loss with another short! Then I closed the 1st one at b/e and the second one at lower support. The reason for all this was just a feeling by looking at the way the price was moving, giving me some sort of confidence it would turn right. A feeling??? This is a mistake, but I'm sure nobody needs me to tell them. This time the market forgave me but that beast is rarely a good guy, especially thinking of those crazy moves we have been experiencing on the pound lately! I am aware of these mistakes, yet I keep making them all the way long. Psychology still my worst enemy and I work hard to defeat it.
The reason I made this post is that hopefully it will help others not to do what I did.
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  • #828
  • Sep 18, 2018 5:02am Sep 18, 2018 5:02am
One more trade on GU. I usually don't like trades at this time of the day, but that one was calling me and I wanted to test my trade management psychology. I closed at 10 pips at resistance. I could have probably moved the stop to b/e and waited but, again because of the time, I didn't want to risk my gain.
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  • #829
  • Sep 18, 2018 9:32am Sep 18, 2018 9:32am
...And I will add 19 more pips on EJ around London closed on support. It took a while but it paid off. I missed quite a few good trades over the day, but honestly I won't complain. Tally for the day is 57 pips.
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  • #830
  • Sep 18, 2018 11:27pm Sep 18, 2018 11:27pm
I thought this was an excellent short video (7 mins) on trading psychology.

Inserted Video
Ardua Ad Astra Per
  • #831
  • Sep 18, 2018 11:37pm Sep 18, 2018 11:37pm
Quoting bobby2
{quote} In our business we are 100% mercenary. We produce nothing. We provide no service to others. Our only goal is to preserve and hopefully increase our capital. That's it. That's our job. Problems usually arise because of stress caused by trading decisions we've made. 9 times out of 10 the stress is caused either because we made a wrong assumption, for whatever reason, and / or, we over-exposed our position. This usually happens because we want to accelerate the rate of profit or cover losses produced because of an error in judgement. Some accelerated...
Great post Bobby.
  • #832
  • Sep 20, 2018 5:52am Sep 20, 2018 5:52am
Guys, I'm just back home and I have to post this picture. Mistakes made of course, but I hope you will see the beauty of the system (yet again LOL). This morning I decided to go with euraud, and as you see I managed to get 3 losses in a row, with a late exit on the 3rd one as well. Then I got the winner that wiped out all three! After it started to move the right way, I had to leave for an appointment but I kept checking on my mobile. TP was at round number (50 and res) but as you see the stochs would have given more. Trade would still be open at this moment as the MTF is still kind of flat-ish above 80. I'm at -0.3 pips and that means I've lost some pennies on the spread, yet I'm delighted...
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  • #833
  • Sep 20, 2018 6:26am Sep 20, 2018 6:26am
Hi. I do not see any error. Inputs and outputs according to the rules, only the last entry that is still alive because the MTF has not left the zone of 80 yet (55 pips right now).

By the way, I'm trading (in demo) eur / gb, eur / jpy, eur / usd, gb / usd, usd / cad and aud / usd, I think enough. Which pairs are you trading?


Pd: today is being a great day for this system.
  • #834
  • Sep 20, 2018 6:43am Sep 20, 2018 6:43am
Today:

eur/usd: about 60 pips (not closed yet)
eur/gbp: 12 and (1 open now +10 pips right now)
eur/jpy: about 100 pips (not closed yet but the entry was before the Euro open so I should not count.
gbp/usd: about 100 pips.
usd/cad: -9 and +8
aud/usd: -6 (MTF left zone 80 and then climbed again
  • #835
  • Sep 20, 2018 12:54pm Sep 20, 2018 12:54pm
Quoting geosevilla
Hi. I do not see any error. Inputs and outputs according to the rules, only the last entry that is still alive because the MTF has not left the zone of 80 yet (55 pips right now). By the way, I'm trading (in demo) eur / gb, eur / jpy, eur / usd, gb / usd, usd / cad and aud / usd, I think enough. Which pairs are you trading? Pd: today is being a great day for this system.
By mistakes I mean that I shouldn't have probably entered the winner where I did and waited for the price to retrace back, then move up again after bouncing off the resistance, thus having overall a better entry point. But as someone said, maybe I think too much... LOL
You can trade any pair. I don't really have preferences. I just look around where I might see an opportunity and then I snipe that one pair.
As I see, you are really going for it. Now do no get excited and carry on demoing for a while. You will not regret it
  • #836
  • Sep 20, 2018 5:28pm Sep 20, 2018 5:28pm
Quoting 4fxonly
Guys, I'm just back home and I have to post this picture. Mistakes made of course, but I hope you will see the beauty of the system (yet again LOL). This morning I decided to go with euraud, and as you see I managed to get 3 losses in a row, with a late exit on the 3rd one as well. Then I got the winner that wiped out all three! After it started to move the right way, I had to leave for an appointment but I kept checking on my mobile. TP was at round number (50 and res) but as you see the stochs would have given more. Trade would still be open at...
Mate do you wait for the MTF to close once over the 50 level before entering or do you enter whilst the current M15 candle is still open? By the way, you should be delighted, you're doing really well with this system trading it like a boss.
Ardua Ad Astra Per
  • #837
  • Sep 20, 2018 10:38pm Sep 20, 2018 10:38pm
i have a question. what is the difference between bobby MTF stochastic 15m with parameters 11/3/3 on a 5m chart and a normal stochastic with parameters 33/9/9 (11/3/3 multiplied by TF coefficient)on the same chart. it looks like the same. isn't the normal stochastic more precise?
  • #838
  • Sep 20, 2018 11:18pm Sep 20, 2018 11:18pm
Quoting 4fxonly
WHAT NOT TO DO! I entered short and although I was aware of the support (more evident on higher TFs), I didn't bank my pips and waited for the price to go against me, I didn't close it when the MTF moved past the 20 zone and, worse, I averaged my loss with another short! Then I closed the 1st one at b/e and the second one at lower support. The reason for all this was just a feeling by looking at the way the price was moving, giving me some sort of confidence it would turn right. A feeling??? This is a mistake, but I'm sure nobody needs me to tell...
Loved your post!

As I was reading, this came into my mind.

Inserted Video
If you are good at something, never do it for free--Joker
  • #839
  • Sep 21, 2018 1:26am Sep 21, 2018 1:26am
Quoting mistakesr
{quote} Mate do you wait for the MTF to close once over the 50 level before entering or do you enter whilst the current M15 candle is still open? By the way, you should be delighted, you're doing really well with this system trading it like a boss.
Thanks for your words, my friend. I think the secret that we all keep searching on this forum and similar others is simply a strategy that we feel sure we can trust, and then we are free to relax and dedicate all our efforts to study and use it and get good results. The most common questions I see people asking when a new system is posted is "How long have you been trading it?" and "do you have a record of past performance?" That's the fear we all have: to dive into something that we don't know if can be trusted or not. But the only way to be sure is, first, to read as much as possible, then watch and watch again (the penny dropped for me only on my 2nd reading) the trades of the OP, then demo it for a while, still making mistakes but overall still taking the good trades and managing them at best. I'm speaking about fitting it to ourselves. That slowly builds confidence and gives us that inner bit of strength and belief day after day that we can do it. Simple.
I hope I have helped a bit to see that bobby's strategy has great merit and can make pips, no matter how our mind keeps playing games. But still whoever decides to embrace it, they still have to do their own homework to see it succeed. I myself did try other strategies, which I'm sure have merit too, and I had good results too although not consistently, so I didn't manage to make them mine. They probably didn't fit my character. This one does.

Now, as for the first part of your post, I usually don't wait for the MTF to close, but I try to enter when it is near the final 5 min, by watching the clock. That's to reduce as much as possible the chance that it will change at the end. Also, of course, I like reentries when the MTF is well on its way and the CTF retraces and bounces off again. If people are interested I could post an indicator that draws vertical lines every 15 minutes (or other TFs) but I don't use it because it clutters my charts, so I rather look at the clock.
  • #840
  • Sep 21, 2018 1:28am Sep 21, 2018 1:28am
Quoting hm741
i have a question. what is the difference between bobby MTF stochastic 15m with parameters 11/3/3 on a 5m chart and a normal stochastic with parameters 33/9/9 (11/3/3 multiplied by TF coefficient)on the same chart. it looks like the same. isn't the normal stochastic more precise?
I have no idea how the MTF is calculated but you can compare your suggestion in real time. Here is a chart that shows the MTF and the stochs with your settings (dotted lines). At a first glance the main difference I notice is that the MTF appears to be faster. Also other MTF stochs displaying like steps don't seem to match bobby's version, even on the levels. I don't know how all this stuff compares in real trading, but I will stick to the version that we have. Only worry is, if it's true that MT5 will at some point replace MT4, to find a version that compares to the one we have here.
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