cool
&
same set up on the 30 mins
TEB
Best Regards,
EricFX
- #1,282
- May 12, 2007 5:53pm May 12, 2007 5:53pm
- Joined Jan 2007 | Status: Trader | 5,864 Posts
do you close when the 5.3.3 of the 4 hour turns?
- #1,283
- May 12, 2007 5:55pm May 12, 2007 5:55pm
- Joined Jan 2007 | Status: Trader | 5,864 Posts
Hi TEB63,
I use a Standart Stock with 5/3/3 and a slow Stoch 14/3/3
Best Regards,
EricFX
do you mean fast stoch?
- #1,285
- May 12, 2007 6:07pm May 12, 2007 6:07pm
- Joined Jan 2007 | Status: Trader | 5,864 Posts
Sorry for so many questions
& your English is much better then My french as I said.
But I think you are using only one Time frame at a time ..
the 30 min or the 4 hour ? is that right?
If that is right - I found it very hard to go counter trend
Now I found when the 4 hour covered the 30 mins it was good
in other words I would wait for the 4 hour chart
to have its two stochs going up
then I would look for the 30 min chart to have its two stochs go up.
Do you find that a problem?
if so what did you do?
& your English is much better then My french as I said.
But I think you are using only one Time frame at a time ..
the 30 min or the 4 hour ? is that right?
If that is right - I found it very hard to go counter trend
Now I found when the 4 hour covered the 30 mins it was good
in other words I would wait for the 4 hour chart
to have its two stochs going up
then I would look for the 30 min chart to have its two stochs go up.
Do you find that a problem?
if so what did you do?
Hi ErixFX
You use 4 hour/ 30 min too
I have found them the best
do you use 1 stoch in each time frame?
& what are there settings ? 5.3.3 ?
Do you use S/R
or just the stochs?
if you don't mind me asking
TEB
I only use Stoch to trade, but for my TP i draw a Fibs Retracement on the High/Low of the Last day, i use them as R/S.
Best Regards,
EricFX
Sorry for so many questions
& your English is much better then My french as I said.
But I think you are using only one Time frame at a time ..
the 30 min or the 4 hour ? is that right?
If that is right - I found it very hard to go counter trend
Now I found when the 4 hour covered the 30 mins it was good
in other words I would wait for the 4 hour chart
to have its two stochs going up
then I would look for the 30 min chart to have its two stochs go up.
Do you find that a problem?
if so what did you do?
Best Regards,
EricFX
- #1,288
- May 12, 2007 6:18pm May 12, 2007 6:18pm
- Joined Jan 2007 | Status: Trader | 5,864 Posts
Hi Teb,
I only use Stoch to trade, but for my TP i draw a Fibs Retracement on the High/Low of the Last day, i use them as R/S.
Best Regards,
EricFX
I do that too but with the biggest time frame I am trading
ie normally the 4 hour chart 4 hour fibs
I add the 50% as well - its amazing how often it bounce off it
but its more for break outs
then TP
but that is a good Idea
I like channels better for TP & SL levels
- #1,289
- May 12, 2007 6:22pm May 12, 2007 6:22pm
- Joined Jan 2007 | Status: Trader | 5,864 Posts
I use the 30m and the 4H and i only take trade when it agree with the 4H. Sometime i go against the trend when i saw in the market depth too much wierd pending entry(Iceberg formation) but usualy i follow the trend.
Best Regards,
EricFX
If the two time frames agree I also will go against the Trend!!
I use the MAs to see when the market is out of place " Wierd"
I have never heard of Iceberg formation before.. what is it
yes ...
If the two time frames agree I also will go against the Trend!!
I use the MAs to see when the market is out of place " Wierd"
I have never heard of Iceberg formation before.. what is it
Best Regards,
EricFX
- #1,291
- May 12, 2007 6:32pm May 12, 2007 6:32pm
- Joined Jan 2007 | Status: Trader | 5,864 Posts
"Iceberg Formation" mean, when a bank want to sell by exemple 600M of euro , they will try to hide the ammount of money by placing alot of little order, so other bank will not bid against them cuz they didnt know they try to sell a bunch of money.That move the market realy fast in one direction when that happen.
Best Regards,
EricFX
how do you pick that up on the charts
I see it in what I call big tails?
normally at news times
how do you pick that up on the charts
I see it in what I call big tails?
normally at news times
At news time its easy , you jsut need to have Bloomberg or Reuters to know in wich direction the market will move. you will see the Economical number in realtime and have a software who will take that number and place a trade using your trigger. after that look when the major bank begin to close they order in the market depth, that give you a big tip of a retracement.With Reuters you see which bank place a trade.
Best Regards,
EricFX
- #1,293
- May 12, 2007 6:42pm May 12, 2007 6:42pm
- Joined Jan 2007 | Status: Trader | 5,864 Posts
I dont mean at News time, that can happen anytime, that will move the market by like 10-15 pips for no reason,sometime its jsut a TP , other time its a SL, other time i realy dont know why hehe.
At news time its easy , you jsut need to have Bloomberg or Reuters to know in wich direction the market will move. you will see the Economical number in realtime and have a software who will take that number and place a trade using your trigger. after that look when the major bank begin to close they order in the market depth, that give you a big tip of a retracement.With Reuters you see which bank place a trade.
Best Regards,
EricFX
- #1,294
- Edited 9:49pm May 12, 2007 9:34pm | Edited 9:49pm
Hi,
I got alot of request for my Words document when it will be ready, so i decided to not make it and to put all the information directly on this thread. the only thing ill ask its to not ask any question if you didnt read the entire thread, i dont have alot of time to answer alot of question.
The Setup is :
SMI (Stochastic Momentum Index) 5/3/3/3, you can use a Full Stoch if you dont have this indicator.
Stochastic Slow, 14/3/3
TimeFrame : 30M/4H
PART 1:
Usualy i trade 10 paire but for all my exemple ill use EUR/USD, in the screenshot you see all trade i took from the 26 april until now on the 4H timeframe, the 3 Diamond is all trade i didnt took but all 3 was a good trade and the square was not a good one. the First diamond have a wierd shape, when you see a shape like that usualy the trend begin to loose it momentum, but in this one he didnt do that. The Second Diamond was too low for me to go short. For the last Diamond if you look at the momentum before it moved up, its was realy realy weak, so for me usualy ill wait for the Stock to go in the 70~ before taking a trade to see a better momentum. For the square, the stoch didnt reach near 25 so for me its a no trade to go long, too weak momentum to have a strong feeling in it.
For right now i just wanted to show the 4H chart cuz its your primary tool to trade,it show you where the price go and you get a better feeling of the momentum.If you just started to trade with the Stochastic , only trade this timeframe until you have a good confidence in the Stochastic, the Slow Stoch is your trigger, the SMI is your warning, the 80/20 line are your last entry , after that, too late if it was upper than 80 and lower 20 (i dont enter after it broke it by more than 5-6 point, if im in, good, if not , ill wait for the second signal)
The first 3 trade was in a sideway market, going up and down and we got 1 wispaw (The Square), Its why you need spend hour and hour and hour at looking at how react the Stoch in all type of market cuz its easy to follow a hard trend but in weak market you need to understand how it react. For all people who read that and think they only need to sell/buy when the Stoch cross and its done, good , that will make more money in my account, for the rest of you who will take time to study this indicator and learn how the market react with it, im sure you will be happy.
Ill post at the end of each day all signal we got with the Stoch on eur/usd ,and analise with you all how i read it, there alot of thing to learn from that indicator but i didnt have the time right now to write all thing i want to say in one post.But ill take the time after each day.
The last thing, if on the 4H the Stoch look wierd, dont try to see on the 30M if it look better, maybe it will look better but that will not make you a better market to trade
Best Regards,
EricFX
I got alot of request for my Words document when it will be ready, so i decided to not make it and to put all the information directly on this thread. the only thing ill ask its to not ask any question if you didnt read the entire thread, i dont have alot of time to answer alot of question.
The Setup is :
SMI (Stochastic Momentum Index) 5/3/3/3, you can use a Full Stoch if you dont have this indicator.
Stochastic Slow, 14/3/3
TimeFrame : 30M/4H
PART 1:
Usualy i trade 10 paire but for all my exemple ill use EUR/USD, in the screenshot you see all trade i took from the 26 april until now on the 4H timeframe, the 3 Diamond is all trade i didnt took but all 3 was a good trade and the square was not a good one. the First diamond have a wierd shape, when you see a shape like that usualy the trend begin to loose it momentum, but in this one he didnt do that. The Second Diamond was too low for me to go short. For the last Diamond if you look at the momentum before it moved up, its was realy realy weak, so for me usualy ill wait for the Stock to go in the 70~ before taking a trade to see a better momentum. For the square, the stoch didnt reach near 25 so for me its a no trade to go long, too weak momentum to have a strong feeling in it.
For right now i just wanted to show the 4H chart cuz its your primary tool to trade,it show you where the price go and you get a better feeling of the momentum.If you just started to trade with the Stochastic , only trade this timeframe until you have a good confidence in the Stochastic, the Slow Stoch is your trigger, the SMI is your warning, the 80/20 line are your last entry , after that, too late if it was upper than 80 and lower 20 (i dont enter after it broke it by more than 5-6 point, if im in, good, if not , ill wait for the second signal)
The first 3 trade was in a sideway market, going up and down and we got 1 wispaw (The Square), Its why you need spend hour and hour and hour at looking at how react the Stoch in all type of market cuz its easy to follow a hard trend but in weak market you need to understand how it react. For all people who read that and think they only need to sell/buy when the Stoch cross and its done, good , that will make more money in my account, for the rest of you who will take time to study this indicator and learn how the market react with it, im sure you will be happy.
Ill post at the end of each day all signal we got with the Stoch on eur/usd ,and analise with you all how i read it, there alot of thing to learn from that indicator but i didnt have the time right now to write all thing i want to say in one post.But ill take the time after each day.
The last thing, if on the 4H the Stoch look wierd, dont try to see on the 30M if it look better, maybe it will look better but that will not make you a better market to trade
Best Regards,
EricFX
- #1,297
- May 13, 2007 8:23am May 13, 2007 8:23am
- Joined Jan 2007 | Status: Trader | 5,864 Posts
hello teb and all
that is my first chart here...
I add some indicators and it looks promising...
1. Trend (0,0,0,0,18,2,18,2000) - need to cross
2. ADX (20)- d+/d- >20
3. trendlines - to confirm.
when all indicators agree and the trendline break/breach thats the point to enter -as u can see- the thin lines with the arrows...
But its way -way- way to busy for me.
what I have learned is simple is better !!
one tool .. Trend lines & candles - sure
But that is all you need
it MTFs that win
& many great trader use even less then that !!
good luck
TEB
- #1,298
- Edited 12:45pm May 13, 2007 8:43am | Edited 12:45pm
- Joined Jan 2007 | Status: Trader | 5,864 Posts
I did a lot of back testing with a friend yesterday
of all the Stoch systems on Forex factor- & there are a # of them
we looked at % of wins per trades
# of pips per trade
# of trades per month
& all 3 together
the best was TEB2
2nd best wher 3 time frames day,hour 30 min
I didn't use MAs or channel on any
so that takes out a lot of the systems I use
The highter win % rates were all spuds
TEB
of all the Stoch systems on Forex factor- & there are a # of them
we looked at % of wins per trades
# of pips per trade
# of trades per month
& all 3 together
the best was TEB2
2nd best wher 3 time frames day,hour 30 min
I didn't use MAs or channel on any
so that takes out a lot of the systems I use
The highter win % rates were all spuds
TEB
- #1,299
- May 13, 2007 9:11am May 13, 2007 9:11am
- | Joined Aug 2006 | Status: Trader | 1,152 Posts
Keep up the good work
great strategy.
Attachment
30 min chart
Big blue line Day chart stoch
little blue line 4 hour chart stoch
blue arrows 30 min stoch
I will exit when the 4 hour stoch cross
like I said the holy grail
Hello TEB its my first time here. I was going through your thread and I find your approach very pragmatic and effective, however there are some things which I seem not understand.
The main issue is, I am not sure how and do you filter your entries (I know you use candels but still some pictures are not clear for me). Because looking at the attached picture, presuming your entries are marked with the blue arrows pointing "up" I see 2 more crosses of stochs, where I find no arrows.
Lets take for example in between the first and the second of your blue arrows (around 8am - 19th March 2007) there was a crossing on the stoch and you seem not to have taken a position (which was wise
) and I seem not to know how you filtered this as a false signal.I would really appreciate if you shed some light on that for me as I am generally a newbee (one and a half year experience with Fx and still looking for a way to prosper
)All the best to you
Mike