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  • #501
  • Apr 29, 2007 7:42am Apr 29, 2007 7:42am
Quoting rgenandt
I just wanted to say "Thank you Spudfyre", for taking the time to create/maintain the thread and the lay out your ideas for trading the multiple time frame stochs. I had tried some things with stochs in the past with not a lot of success, but reading through this thread and watching charts to help absorb what you were saying has helped me see things differently - and wow! 355 pips last week in my live account (any of you pros that are taking 1000+ per week feel free to enlighten me ), and trading with a confidence I've never felt before. I'm slowly getting better at exiting, but I tend to be fairly conservative and many times i ditch a trade too early! My current broker doesn't offer GbpJpy, but i saw plenty of movement out of the GpbUsd, UsdCad & UsdChf to keep me busy, and it looks like EurJpy could have an exciting week next week.

Sorry to ramble, Spud, thanks again!
Don't ever feel unhappy about ditching a trade too early as long as you have a positive pip flow and gaining confidence, that is all that counts!
Thanks for the nice comments
  • #502
  • Apr 29, 2007 7:44am Apr 29, 2007 7:44am
Quoting ojibway11
It's nice to hear about your successes. I've also been following this thread now for a while...but I am still at the stage of seeing the great setups only after the fact!! I'll keep at it and hopefully will be reporting my successes soon. If you have the time as you are seeing the setups maybe you can post here, that might help those of us still absorbing the system to recognize the triggers.

Good luck trading next week.
I'm back from my "working" vacation and will be posting trades here starting Monday.
  • #503
  • Apr 29, 2007 8:01am Apr 29, 2007 8:01am
Quoting Spudfyre
I'm back from my "working" vacation and will be posting trades here starting Monday.
Welcome back...........we missed you.

Tim
  • #504
  • Apr 29, 2007 9:12am Apr 29, 2007 9:12am
Quoting Spudfyre
I'm back from my "working" vacation and will be posting trades here starting Monday.
Hope you had a relaxing time Spud.

You will be pleased to see that the followers of this thread seem to be doing well using the information you shared before going away. Hopefully, now you are back this thread can pick up more momentum and you can clarify some of the finer points of MTF Trading.

My contribution to this thread would be to look closely at the 2.00 gmt (10.00 am in Tokyo) and the 7.00 - 8.00 am gmt (Frankfurt and London opening) time slots. If the price has risen/fallen to the s/r lines which equate to the H3 or L3 on the Camarillas and the stochastics turn and are just coming through the 20/80 then the chances of a decent move to the opposite H3/L3 are very good. I am presently trading with this method with 2 lots, closing the first at the H/L3 and the second at the H/L4 (once the first lot has taken profit I bring the stoploss of the second lot to B/E or a little higher if the second lot is well in profit).

The price, most days will move between the H3 and L3 and the MTF Stochastic method is ideal for judging when the price is bouncing off those resistance/support lines. Hope this may prove useful.

Once again Sud, thanks for sharing your thoughts with us all.

Dave W
  • #505
  • Apr 29, 2007 9:51am Apr 29, 2007 9:51am
Quoting DaveW
Hope you had a relaxing time Spud.

You will be pleased to see that the followers of this thread seem to be doing well using the information you shared before going away. Hopefully, now you are back this thread can pick up more momentum and you can clarify some of the finer points of MTF Trading.

My contribution to this thread would be to look closely at the 2.00 gmt (10.00 am in Tokyo) and the 7.00 - 8.00 am gmt (Frankfurt and London opening) time slots. If the price has risen/fallen to the s/r lines which equate to the H3 or L3 on the Camarillas and the stochastics turn and are just coming through the 20/80 then the chances of a decent move to the opposite H3/L3 are very good. I am presently trading with this method with 2 lots, closing the first at the H/L3 and the second at the H/L4 (once the first lot has taken profit I bring the stoploss of the second lot to B/E or a little higher if the second lot is well in profit).

The price, most days will move between the H3 and L3 and the MTF Stochastic method is ideal for judging when the price is bouncing off those resistance/support lines. Hope this may prove useful.

Once again Sud, thanks for sharing your thoughts with us all.

Dave W
A few people have been pointing me to Camarillas which I am now studying. Thanks for your insight.
  • #506
  • Apr 29, 2007 10:15am Apr 29, 2007 10:15am
Just a "few" people have been asking how to grow their account from start. I have been meaning to start such an adventure and that adventure will begin.

I am only going to speak in terms of pips and net pips...since we all may trade different lot sizes and different brokers. Net pips are pips earned less broker fees. I'll consider Interest a tax and not part of net pips.

I am going to start at 500 pips in the account. Targets will be based on net pip gains and then I will move on to the next target (as opposed to time or pips/day) There of course will be a pip bank to hold all the extra pips made...and let us hope there is a lot!

The early going will be structured to keep risks low and try to protect the account. Keep reality in mind that 500 pips is not a lot of pips to have to start so it is pretty hard to protect in a really bad situation. Therefore trades will be cautious and there will be lots of quick pip grabs.

As I progress I will initially take larger risks due to the smaller account but eventually work to reduce gains to increase risk protection until I am in a position where the risk is on a steady decline and the gains on a steady incline.

You can trade along with me if you like....at your own risk of course. I will post my trades and the pip targets.

I will be trading 3 pairs to start...eurusd, gbpusd, gbpjpy. I will explain trade strategy as I go...it will be easier to see live than in pre-trade theory.

Stops will always start at 50 pips but be dynamic and change during the course of any trade....I use stops to protect the account not the trade..at 500 pips there will not be much account protecting.

All pairs will trade on 15/30/1H stochs with the middle time frame being the entry as it crosses down from 80 or up from 20...having the 15M time frame already signaling the same. More on this later.

Exits depend on the 15/30 time frames or pip gains.

EURUSD will grab small pips and is there to keep us busy...low priority if it interferes with a GBP trade.
GBPJPY will offer the most pips (and greatest risk) but is the highest trade priority.

I will always be entering trades M-F 6 am to noon EST. I'll announce any times not trading or trading extra beyond that. Note: I usually trade 6 am to midnight with breaks....but it is summer
  • #507
  • Apr 29, 2007 10:42am Apr 29, 2007 10:42am
These are the initial trade targets:

Starting Balance: 500 pips

1. Goal: 100 pips Base: 10 pips/day Ending Balance: 600 pips (+20%)
2. Goal: 200 pips Base: 15 pips/day Ending Balance: 800 pips (+60%)
3. Goal: 200 pips Base: 15 pips/day Ending Balance: 1000 pips (+100%)

Notes:
Trades are based on 1 lot traded. Goal is to double starting pips.
Pips/day is to keep track of what is considered a successful day in trading...see pip bank.
First priority of all trades is to reach the pips/day goal either with one or several trades. <<< DISCIPLINE >>> Don't chase the pips without protecting your gains!!!!

Pip Bank:
Pips/day is considered the base income applied to the account gain goals. Any higher pip gains above pips/day should be placed in the pip bank and not applied to the final goal....yet. The pip bank is the dynamic safety net to protect the account at this stage and works better than "stop losses".
When 1000 pips are reached in combination of total account balance from pips/day and pip bank will be the only time to withdraw pips from the pip bank and move on to new targets.

Trade as much as you can each and every day. This is not a time to sleep but to trade! Trade on every signal you can....but don't force trades that don't exist...wait for the signal.
  • #508
  • Apr 29, 2007 12:37pm Apr 29, 2007 12:37pm
Spud,

Thank you for offering to take us along live in your trading. This will clear up many questions everyone (including myself) have about how to trade this in real time instead of after the fact.


Thanks again!

Bagovino
"Skills pay the bill's!"
  • #509
  • Apr 29, 2007 12:41pm Apr 29, 2007 12:41pm
Quoting Spudfyre
A few people have been pointing me to Camarillas which I am now studying. Thanks for your insight.
Here is a great link Spud.
http://www.camarillaequation.com/
Our IMAGINATION is the true holy grail!
  • #510
  • Apr 29, 2007 12:54pm Apr 29, 2007 12:54pm
Spud,

I think where I get most confused is I study both your and TEB's system. Sometimes his says one thing and yours says another. Can you please explain the difference between yours and his and do you use his at all?

Thanks,

B.
"Skills pay the bill's!"
  • #511
  • Apr 29, 2007 2:23pm Apr 29, 2007 2:23pm

Quoting Spudfyre
I will be trading 3 pairs to start...eurusd, gbpusd, gbpjpy. I will explain trade strategy as I go...it will be easier to see live than in pre-trade theory.

Stops will always start at 50 pips but be dynamic and change during the course of any trade....I use stops to protect the account not the trade..at 500 pips there will not be much account protecting.

All pairs will trade on 15/30/1H stochs with the middle time frame being the entry as it crosses down from 80 or up from 20...having the 15M time frame already signaling the same. More on this later.

Exits depend on the 15/30 time frames or pip gains.

EURUSD will grab small pips and is there to keep us busy...low priority if it interferes with a GBP trade.
GBPJPY will offer the most pips (and greatest risk) but is the highest trade priority.

I will always be entering trades M-F 6 am to noon EST. I'll announce any times not trading or trading extra beyond that. Note: I usually trade 6 am to midnight with breaks....but it is summer
Spud,
Welcome back ! I look forward to your new adventure. As a preliminary...what is the best approach in terms of a screen set up. Should I have the 15M/30M/1H and the respective stochs for each of the 3 pairs on my screen?

Thanks for the time and patience you have taken to answer our questions.

jj/.

  • #512
  • Apr 29, 2007 4:06pm Apr 29, 2007 4:06pm
Quoting bagovino
Spud,

I think where I get most confused is I study both your and TEB's system. Sometimes his says one thing and yours says another. Can you please explain the difference between yours and his and do you use his at all?

Thanks,

B.
TEB can correct me but I believe his system captures momentum more and mine price moves in the trend or counter to the trend.. To put that simply, TEB's system is capturing the trade later based on the longer term trend so that his system tries to capture larger price gains once the trend is well established and in it's peak pip moves. My system identifies price changes and tries to capture the shorter term price moves.

If you think of the letter "V" and the overall daily trend is up, my system would trade both sides of the "V", where TEB's system would trade only the up side of the "V", looking for a longer or larger price move on the up side. My system would capture the move either at the tip of the left leg, at the rise at the bottom point, and exit somewhere along the leg of the right side. TEB's would enter past the bottom point and ride to the top right tip of the "V".

I believe that is the difference simply speaking.
  • #513
  • Apr 29, 2007 4:12pm Apr 29, 2007 4:12pm
Quoting JayJay


Spud,
Welcome back ! I look forward to your new adventure. As a preliminary...what is the best approach in terms of a screen set up. Should I have the 15M/30M/1H and the respective stochs for each of the 3 pairs on my screen?

Thanks for the time and patience you have taken to answer our questions.

jj/.

I put all 3 pairs on my screen. Left side is the 15M stoch and price. To the right of the 15M is the 30M of each pair and to the right of that the 1H. See pic below:
Attached Image
  • #514
  • Apr 29, 2007 6:59pm Apr 29, 2007 6:59pm
Wow! Welcome back Spud. This is going to be fascinating. That's a great explanation of the differences between yours and TEB's - both successful in their own right.
  • #515
  • Apr 29, 2007 10:11pm Apr 29, 2007 10:11pm
Spud, I like the way you have your screen set up, with everything all on the one page.
What charting platform do you use that allows you to set things up in that way?

Oh, one other question. Why will the 4hr stoch no longer be used? I was under the impression that it was the main reference, and that the shorter time frames were principally used to fine tune entries.
  • #516
  • Apr 30, 2007 2:20am Apr 30, 2007 2:20am
Spud,


Thanks for an excellent explanation!!!!

I'm looking forward to trading with you.


B.
"Skills pay the bill's!"
  • #517
  • Apr 30, 2007 5:19am Apr 30, 2007 5:19am
You are waiting for a reversal? because the 30 min are also pointing up and the 1hr also. (gbp/usd)
  • #518
  • Apr 30, 2007 5:22am Apr 30, 2007 5:22am
Quoting gandyd66
Spud, I like the way you have your screen set up, with everything all on the one page.
What charting platform do you use that allows you to set things up in that way?

Oh, one other question. Why will the 4hr stoch no longer be used? I was under the impression that it was the main reference, and that the shorter time frames were principally used to fine tune entries.
Platform - MT4 (strategybuilderfx.com)

I am not using the 4H time frame as it will lag behind too far for most of the trades......except when the 4H lines up as per the "Escalator to Pips".

For the most part I am using the 15/30 Tf's in tandem to find trades in the price swings to build the account.
  • #519
  • Apr 30, 2007 5:24am Apr 30, 2007 5:24am
Quoting capsmart
You are waiting for a reversal? because the 30 min are also pointing up and the 1hr also. (gbp/usd)
Maybe. Waiting for the 30M to get in sync with 15M and seeing where the 1 Hr is. This first cycle may be too early (eg eurusd). We may see the 15M linger above 80 for a while or it may dip back to 20 and that would be a better trade to catch it in sync with the 1H on the way up. Have to see what develops.
  • #520
  • Apr 30, 2007 5:32am Apr 30, 2007 5:32am
There was a great setup at 4AM CST on Cable. up 48 now, unfortunately I was about 30 minutes late and didnt get in.

http://img185.imageshack.us/img185/7...3125zy3.th.jpg
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