MTF Stochastics

Skyline

Thanks so much for sharing your setup. What is the value that shows on the chart with an <--- mark

Oh sorry I forgot to include it , it's the EJ_CandleTime indicator, it tells how much minute:seconds left to candle closing.
I will update previous post and add it

Hello spudfyre

I started recently looking at your Thread. You have an unbelievable passion to help other members grow with you. your detailed explanations are awesome.

I am excited and would like to tryout your new 500 PIP building acccount. There is so much information on the thread, it would really help me and new members if you can summarize your trade setup, entry and exit for building this account. I sincerely appreciate you doing this.

I just downloaded Skyline's "Spud Stoch" profile and indicators. When I chose SpudFyre in my profile folder the charts came up but without info.

Each chart says "Waiting for Update." Does anyone know how to remedy this problem? Thanks

I had this same problem recently, The way i solved it was to open a new chart and install the new indicators, then discarded the old chart.

Kilo

Okay Kilo, Thanks, I'll try it.

If you have the market watch window in the side you can just drag the symbol from that window over and drop it on the chart. you can also change the pair that you are looking at that way. If you don't have the market watch window you can go to 'View' and click on it to get it to show up there. Hope that's enough detail :-)

Here's a screen shot of my setup for some quick pips.

Notice the far right is eurusd the 5M is the large window and the 15/30 are to the top right....when the 5M lined up with the 15/30 I set to grab 5 pips

Rgenandt,

That worked. Man, I never knew you could do that. Thanks much.

[2 Mag 2007]
Daily quota: 10 pips (ok)
Pip Bank: 39 pips

EURUSD: 4 pips
GBPUSD: 6 pips
GBPJPY: 10 pips

Daily Total: 20 pips
Gran Total: 69 pips

Hello All,

Have been folllowing this thread and Tebs with keen interest....

you know ,i'm sure, the steps involved in learning to trade and i'm sure we are all at different stages.ME ,i still lose on a regular basis and i know the problem(s).

although i am still only at demo stage,i try to treat it as if it were real.so that i can deal with all the emotions and at the same time learn how and when i receive them, so that i can learn to deal with them.

Discipline and money manage ment are still issues for me but having studied and apllied many systems ,some my own ,some other peoples,i have until now not found anything that jumped of the page at me and said.....THIS IS THE ONE !!!!

Soooo!!! i at least can say that i have discovered a method that sits right in my head, which is where it must be comfortable....

And for that i can only offer my utmost thanks to both spud and teb for their generosity.i was leaning towards mtf for a while but was yet to find the approach....now i have.

For me these two method are highly complimentary and i would suggest to anyone reading this thread not to change a thing about these methods... just practice, practice ,practice.....it just doesn't get any simpler or make more sensethan this.

Truly grateful

well thats the method down, now all i need is to control my own emotions and deal with the other two aspects...two years downs only four to go.

just a quick question... if you know the answer and yet do nothing about it ,what does that mean

Quicker Pipping
--------------
Well a light bulb went off in my head last night after our informative Slick60 handed us his picture on trading the 5 min GbpUsd. I hope he shares the details of that diagram so we can all learn the 1-2-3-divergence dance.

What I did glean out of it was a nice easy way to grab quick pips off the EurUSd and GbpUsd. This is probably good for any small spread pair.

Word of warning! I have only tested this one day live but I'm up to 48 pips out of 12 trades straight with most trades lasting 15 mins or less!!
I have spent the entire afternoon looking over charts so I'm fairly comfortable thinking this is a winning methodology but you may want to demo it a while or wait for me too lose my money first.

There is no reason for it not to work since it follows the hard core rules of MTF Stochastic trading...so no magic here....just a time frame move.

How this works is to trade the 5M stoch in the direction the 15/30 stochs are pointing..given they are close to the beginning of their run long or short from 80 or 20 as per the 80/20 rules I have spoken at length of here in this thread.

You'll get even better win ratios I am sure using more time frames like adding the 1H and even the 4H.

Then you grab 5 pips or exit when the 5M goes from 80 and hits 20 or vice versa. It doesn't have to hit right on the exit line of 20 or 80...just get out if you are up pips and it gets near the exit. So maybe you get 1 pip or 5 pips..doesn't matter just grab and go.

An example on EurUSd:

We are looking for a normal entry for short. The 15M has curled from 93 stoch and crossed down to 79 stoch level. The 30M is pointed down at the 83 stoch level.

We now look at the 5M stoch to be pointed down...you may need to wait or it may be there waiting for you. It should be above 70 on a short stoch...higher up the better.

Now we go short and put a TP of 5 pips in and a S/L of 20 (I haven't gone above -10 yet during the trade).

We exit when our TP is hit...it usually hits the TP near the 20 or just past the 20...but many hit during the first 5 min candle too.

If the 5 min hits 20 or goes past 20 then just settle for whatever pips you have +/-. You can opt to ride out the 15min next but it's a much larger risk compared to grabbing these easy quick pips!

In fact, I have to say it has been so easy making pips this way I actually got a little bored..there were no heart throbbing moments at all....no challenge.

Now, I can't say this is always going to be this way...but our friend slick50 may share with us some really good stuff that can add to this and make life even more pipable! That is up to him as he has worked hard on his system and I respect his time.

I share this with you so you can use it if you like and judge for yourself if it works. I'm going to use it for a while and really put it to the test.

So this may seem pretty obvious...but you'd have to live my experience trading 5 min charts to understand why I have avoided 5 min charts for trading for years. But this uses the same basic rules so why I never tried this until today..beats the heck out of me.

Here are the results on Day 3 to the 500 pip goal:

Daily goal: 10 pips (until 100 pips reached)
Pip Bank: 38 pips

GBPJPY: no trades
GBPUSD: -29 pips (I had to stay up all night to rescue that)
EURUSD: +48 pips

Total: +68 pips
Days Traded: 3 (for 30 pips)

GU....I entered this trade Tuesday night and it went bad to worse right of the bat unable to break the support line. I stuck to it and bailed out on one rise at about 2 am est and then bought some more to cover my loses to ride another long which was much better but it cost me an entire night's sleep. At one point I was down -90 pips on one lot but the stochs said to stay..so I stayed in...which paid off in the end. I took a -29 pip loss due to falling asleep on the job...trader's hazard! So bailed out when I awoke and swore alot.

However all was not a loss because during those hours Slick50 gave me two pictures of his trading method that inspired me to look at something differently which I just shared in this thread.

So I took from the pip bank 29 pips to cover losses, but have gained another 38 extra today with 12 trades on EurUsd to add...so overall it ended up a really great day.

3 days and am 68% done of the first 100 pip target.

Spud,

Do you use this new 5min. scalp system on the eur/usd only?

B.

Nitro,

Thank you for posting the MTF Stoch indicator. So far I'm 2 for 2 with it. It makes trading this system so much easier!


Bagovino

Hi!

Please could you show 1 chart with 1 step-by-step setup forming for your trade? I so need to understand 1 trade from start to end!

Thank you!

I received some pm about profile posted some days ago, because seems to not working properly, so I put here the template so that you can arrange by yourself the charts. This template use the new Big_Stochastic v1.1 indicator , that now display a little arrow pointing up or down depending if %K is more than %D or viceversa.

Hope it helps

Cheers,
Skyline

Well done for sticking with the trade and not missing so much being asleep.

Unfortunately I missed some of the chat slick was giving yesterday on the chatroom and just basically got the gist of looking at the 5 min for divergence, but I'm not sure how the 1-2-3 relates to the trade.

I understand 1-2-3 reversals but I failed to see any within the recent trading action. I would therefore appreciate it if you could share the pictures of the setup so I can understand it better.

From your description above it simply sounds the same as your trading set up but using the 5 15 and 30 min charts instead of longer term charts.

Any help appreciated and if slick would like to share I'm sure we would all benefit from his(her) expertise.

Thanks in advance.

G-Man (PinnerForce)

Just want to THANK YOU for sharing!

FXS

Thx Spud & Slick for this new gems for us.
A little question : is still the stoch(5,3,3) on M5 chart ?

cheers,
Skyline