Dislikedsometimes not good entrance to 15m being instead good to 1h and on the contrary. true being?
thanksIgnored
- #881
- May 6, 2007 10:34am May 6, 2007 10:34am
- Joined Jan 2007 | Status: Stochastic pipster | 1,657 Posts
tzachi
each time frame has different stops
u cant use a 15-20 pip stop on a 1h gbpusd trade
but u should easily be able to on a 15 min trade
just because the 1h isnt showing a signal doesnt mean the 15 min is a bad signal. basically look at it this way, the more confirmation u have the better
so if u have a trade on the 15 min chart to go long and the 1h is pointing up or the price has been moving up nicely then it would be a good signal
if u see the 1h pointing down and the 15 min just gave u a signal to buy then it would obviously be a bad trade or one u should avoid. **edited
u dont need the 1h to look exactly the same as a 15 min chart to take the trade but at least make sure its not the opposite. does that make sense?
dont confuse urself with timeframes and confirmations. if ur worried just start with 1 timeframe and only take the best trades. alot of trades i have taken i never bothered to look at a different timeframe because the setup was just so good. if it fails it fails and it can happen all the time
each time frame has different stops
u cant use a 15-20 pip stop on a 1h gbpusd trade
but u should easily be able to on a 15 min trade
just because the 1h isnt showing a signal doesnt mean the 15 min is a bad signal. basically look at it this way, the more confirmation u have the better
so if u have a trade on the 15 min chart to go long and the 1h is pointing up or the price has been moving up nicely then it would be a good signal
if u see the 1h pointing down and the 15 min just gave u a signal to buy then it would obviously be a bad trade or one u should avoid. **edited
u dont need the 1h to look exactly the same as a 15 min chart to take the trade but at least make sure its not the opposite. does that make sense?
dont confuse urself with timeframes and confirmations. if ur worried just start with 1 timeframe and only take the best trades. alot of trades i have taken i never bothered to look at a different timeframe because the setup was just so good. if it fails it fails and it can happen all the time
- #884
- May 6, 2007 1:55pm May 6, 2007 1:55pm
- Joined Jan 2007 | Status: Stochastic pipster | 1,657 Posts
tzachi
each time frame has different stops
u cant use a 15-20 pip stop on a 1h gbpusd trade
but u should easily be able to on a 15 min trade
just because the 1h isnt showing a signal doesnt mean the 15 min is a bad signal. basically look at it this way, the more confirmation u have the better
so if u have a trade on the 15 min chart to go long and the 1h is pointing up or the price has been moving up nicely then it would be a good signal
if u see the 1h pointing down and the 15 min just gave u a signal to buy then it would obviously be a bad trade or one u should avoid. **edited
u dont need the 1h to look exactly the same as a 15 min chart to take the trade but at least make sure its not the opposite. does that make sense?
dont confuse urself with timeframes and confirmations. if ur worried just start with 1 timeframe and only take the best trades. alot of trades i have taken i never bothered to look at a different timeframe because the setup was just so good. if it fails it fails and it can happen all the time
- #887
- Edited May 8, 2007 3:15am May 7, 2007 6:06am | Edited May 8, 2007 3:15am
Fortune always favors the brave.
- #888
- Edited 9:46am May 7, 2007 9:35am | Edited 9:46am
- Joined Jan 2007 | Status: Stochastic pipster | 1,657 Posts
- #890
- May 7, 2007 11:11am May 7, 2007 11:11am
- Joined Apr 2006 | Status: Metatrader Programmer | 1,422 Posts
I played a little bit today and created this little indicator that show all situation in a single view about the buy/sell signal that this method is giving on different Stoch for multiple timeframe from M5 to H1.
Stoch5 means Stochastic(5,3,3), Stoch20 means Stochastic(20,10,20) and Stoch50 means Stochastic(50,10,20).
If arrow is pointing up (green) then is a buy signal otherwise if it's pointing down (red) is a sell. The more arrow of the same direction/color we get the more the signal is stronger.
Anyway discretional is still to be used , since the trader should check for the single timeframe to see where the various stoch are.
http://img78.imageshack.us/img78/614/gbpusdm5rn8.jpg
In attachment you can find also sexy stochastic template shown in the above picture.
Hope it could be helpfull
Cheers,
Skyline
Stoch5 means Stochastic(5,3,3), Stoch20 means Stochastic(20,10,20) and Stoch50 means Stochastic(50,10,20).
If arrow is pointing up (green) then is a buy signal otherwise if it's pointing down (red) is a sell. The more arrow of the same direction/color we get the more the signal is stronger.
Anyway discretional is still to be used , since the trader should check for the single timeframe to see where the various stoch are.
http://img78.imageshack.us/img78/614/gbpusdm5rn8.jpg
In attachment you can find also sexy stochastic template shown in the above picture.
Hope it could be helpfull
Cheers,
Skyline
- #891
- May 7, 2007 11:25am May 7, 2007 11:25am
- Joined Jan 2007 | Status: Stochastic pipster | 1,657 Posts
I played a little bit today and created this little indicator that show all situation in a single view about the buy/sell signal that this method is giving on different Stoch for multiple timeframe from M5 to H1.
Stoch5 means Stochastic(5,3,3), Stoch20 means Stochastic(20,10,20) and Stoch50 means Stochastic(50,10,20).
If arrow is pointing up (green) then is a buy signal otherwise if it's pointing down (red) is a sell. The more arrow of the same direction/color we get the more the signal is stronger.
Anyway discretional is still to be used , since the trader should check for the single timeframe to see where the various stoch are.
http://img78.imageshack.us/img78/614/gbpusdm5rn8.jpg
In attachment you can find also sexy stochastic template shown in the above picture.
Hope it could be helpfull
Cheers,
Skyline
but thanks for developping this one as it allow you to see the 5/20/50 at the same time as the other indicator authorises only one stoch
- #892
- May 7, 2007 12:37pm May 7, 2007 12:37pm
- Joined Jan 2006 | Status: gamblin wit style | 740 Posts
ok guys heres gbpusd
if it breaks that trendline and the 20 stays above the 80 line we should see price moving further up (another good thing is the 70 is above the 80 line too)
ok the story of the new stoch.
i got rid of the 50 and the 100 and decided on something between. basically less clutter and somethin that combines the two
the settings are 70 and 20 for slowing. the signal line is 1.
u guys can keep the old settings or go with the new one it doesnt matter either way they will yield the same results since our main focus is the 20.
ok my next point:
im wondering if any programmers or people that create indicators can create something that paint bars according to the 20
lets say the 20 is moving up then the indicator would paint the bars or candles green. sort of like heiken ashi.
this isnt really somethin needed and even if i had it i would keep all the stochs. but it would be a nice visual. easy on the eyes especially if ur watching too many charts u can quickly glance around
ok if anyone can pull this off its greatly appreciated.
when 20 is moving up or above 80 paint the bars/candles green. if the opposite then paint them red. well any color would be a nice option but u get the idea
if it breaks that trendline and the 20 stays above the 80 line we should see price moving further up (another good thing is the 70 is above the 80 line too)
ok the story of the new stoch.
i got rid of the 50 and the 100 and decided on something between. basically less clutter and somethin that combines the two
the settings are 70 and 20 for slowing. the signal line is 1.
u guys can keep the old settings or go with the new one it doesnt matter either way they will yield the same results since our main focus is the 20.
ok my next point:
im wondering if any programmers or people that create indicators can create something that paint bars according to the 20
lets say the 20 is moving up then the indicator would paint the bars or candles green. sort of like heiken ashi.
this isnt really somethin needed and even if i had it i would keep all the stochs. but it would be a nice visual. easy on the eyes especially if ur watching too many charts u can quickly glance around
ok if anyone can pull this off its greatly appreciated.
when 20 is moving up or above 80 paint the bars/candles green. if the opposite then paint them red. well any color would be a nice option but u get the idea
.
- #897
- May 8, 2007 2:53am May 8, 2007 2:53am
- Joined Apr 2006 | Status: Metatrader Programmer | 1,422 Posts
did anyone hear that natasha bedingfield song? its somethin like "i wanna have ur babies get serious like crazy"
i like it its a catchy tune but the chick seems a bit wacko to me like shes not all there in the brain department but it could be some kind of new fab that is even beyond me lol
so yep i decided i will not be doing school this summer and trading full time. its time to make some serious $$$. i promised my mom and dad a nice vacation for just the 2 of em wherever they decide. silly goal if u think about it but it would mean alot to them.
I would too change my life and start a living with trading but I still have to learn sooo much 
- #898
- Edited 5:07am May 8, 2007 4:49am | Edited 5:07am
- Joined Jan 2007 | Status: Stochastic pipster | 1,657 Posts
- #899
- May 8, 2007 8:00am May 8, 2007 8:00am
- Joined Jan 2007 | Status: Stochastic pipster | 1,657 Posts