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  • #701
  • May 15, 2007 12:43am May 15, 2007 12:43am
Quoting creztor
Guys use tradingrooms. We have used it for a few months now and moved there from echat. With the recent patches lately it works even better. I believe its the best solution right now especially since its free and you can share charts and do voice chat if you want also.
Thanks a lot creztor I will take a look to check how it works
  • #702
  • May 15, 2007 12:56am May 15, 2007 12:56am
i have been looking at your technique since very recently, and so far I've had it work for me pretty well. in two hours - 2/2. very promising. just wanted to let you know.
and you're right that GJ pair seems to be very little news driven, which is great as one can concentrate on the technical trading....more or less safely (if that's at all possible on forex markets hehe)
update: 6 additional pips banked 5 mins later (and probably could've been more, but kinda late to wait it out).
so total comes to 20 pips. in 2 hours. goal for the day is done.
  • #703
  • May 15, 2007 3:39am May 15, 2007 3:39am
Is there a new chat room ..cud some one post the location.
  • #704
  • May 15, 2007 3:45am May 15, 2007 3:45am
Quoting JayJay
Is there a new chat room ..cud some one post the location.
Hi JayJay ,
actually i'm only testing the tradingrooms software and seems nice with option to share charts between members and setup private room. But i'm wonder if it will stay free for ever Anyway just to test it download the client here http://www.tradingrooms.com/Download/Download.aspx then search for MTF Spudfyre Stochastic room (in the Premium Room) password : spudchat
  • #705
  • May 15, 2007 4:36am May 15, 2007 4:36am
Quoting skyline
Hi JayJay ,
actually i'm only testing the tradingrooms software and seems nice with option to share charts between members and setup private room. But i'm wonder if it will stay free for ever Anyway just to test it download the client here http://www.tradingrooms.com/Download/Download.aspx then search for MTF Spudfyre Stochastic room (in the Premium Room) password : spudchat
Ill second this as well, good stuff. Has chat, voice, streaming charts, gooood stuff
  • #706
  • May 15, 2007 6:00am May 15, 2007 6:00am
Hi Spud,

I have 2 questions, but first wanted to thank you for this thread.

My first question is
1.Are there any kind of adjustments to the Stoch that can be done to match or get near the settings you use. My platform doesn't support the indicator style.

2. Would you, when time permits post a few Non-Optimal charts that still produced profits?

Thanks,
Brett
  • #707
  • Edited 7:23am May 15, 2007 6:57am | Edited 7:23am
Quoting skyline
Hi JayJay ,
actually i'm only testing the tradingrooms software and seems nice with option to share charts between members and setup private room. But i'm wonder if it will stay free for ever Anyway just to test it download the client here http://www.tradingrooms.com/Download/Download.aspx then search for MTF Spudfyre Stochastic room (in the Premium Room) password : spudchat
Hello Skyline,

Downloaded/installed the TradingRoom software, but when I get into the room, it says the TradingRoom Manager has revoked my permission to speak. Can this be fixed? I'm signed on with username "Pipskateer".

Thanks!

EDIT: Nevermind, I see now that I can still type-chat and that message was referring to the actual VOICE function.
  • #708
  • May 15, 2007 7:06am May 15, 2007 7:06am
Quoting Pipskateer
Hello Skyline,

Downloaded/installed the TradingRoom software, but when I get into the room, it says the TradingRoom Manager has revoked my permission to speak. Can this be fixed? I'm signed on with username "Pipskateer".

Thanks!
I don't know I have too that options disabled
  • #709
  • May 15, 2007 9:49am May 15, 2007 9:49am
Spud,


All these advancememnts to your system has my head spinning. What is the simplest most effective method you have created up to this point?

Thanks,

B.
"Skills pay the bill's!"
  • #710
  • May 15, 2007 9:52am May 15, 2007 9:52am
Spud,

I agree with Bagovino, can you please list out your most simplest and most successful method. I am not sure what you are using anymore. Can you give us status on your testing of the different methods you been using.

Thanks,


Guppy
  • #711
  • May 15, 2007 10:30am May 15, 2007 10:30am
Quoting bagovino
Spud,


All these advancememnts to your system has my head spinning. What is the simplest most effective method you have created up to this point?

Thanks,

B.
Me too Bago, I'm lost inside the stochs
  • #712
  • May 15, 2007 11:04am May 15, 2007 11:04am
Spud rocks 'cause Stochs rock!
Attached Image (click to enlarge)
Click to Enlarge Name: Stoc rocks.jpg Size: 109 KB
  • #713
  • May 15, 2007 5:07pm May 15, 2007 5:07pm
Quoting bagovino
Spud,


All these advancememnts to your system has my head spinning. What is the simplest most effective method you have created up to this point?

Thanks,

B.
The simplest and safest method to use is the 80/20 rule with at least 2 time frames. Use the 4H as your lead indicator and follow the 4H with any or all of the 15/30/1H (or use the escalator)...longer the time frame the more risk of larger draw downs.

I am working on a consolidated document that will hopefully make it a whole lot easier to follow it all.
  • #714
  • May 15, 2007 5:09pm May 15, 2007 5:09pm
Quoting pip_hunter
Hi Spud,

I have 2 questions, but first wanted to thank you for this thread.

My first question is
1.Are there any kind of adjustments to the Stoch that can be done to match or get near the settings you use. My platform doesn't support the indicator style.

2. Would you, when time permits post a few Non-Optimal charts that still produced profits?

Thanks,
Brett
I only use MetaTrader so I can't help you with another platform. However, I am sure there are others that use other platforms that can help? What platform are you using?

I'll put up some bad scenerios when I get a chance.
  • #715
  • May 15, 2007 5:19pm May 15, 2007 5:19pm
Quoting WillBill
Hi, a real basic question, but one that will help me. If I trade with four stochs but enter on a signal from three, eg. (UP trade) 15 mins pasted 20 going up, same for 30 mins, 1hr just pasted 20 going up, the 4hr below 20 but turning up,
There are 43 mins left before the 1hr candle closes.
? Do I wait for the 1hr candle to close before entering the trade assuming all else being equal. thanks
4 Hr is your main signal when it breaks 20. You definitely don't want the 4H above 80 or below 20 entering a trade. You then want at least one other or two is better time frames to be somewhere in the 20-38.2 zone headed up.

If you are using the 1H, better to wait for it to close. Having said that, the 1H is made up of 4 x 15M or 2 x 30M periods. Both of these give you the information of the partial 1H....so say they are both headed up and low in the low zone then it is probably pretty safe to enter before the 1H closes as long as it appears to be headed up.

One of the most difficult things to beat in trading stochastics is that "panic" that you will enter too late. Trades are lost almost always on too early an entry. This is the hardest part of using stochastics because you get to a point of anticipating their moves before they happen...and it burns you. To trade stochastics requires a zen garden next to your computer
  • #716
  • May 15, 2007 5:26pm May 15, 2007 5:26pm
Quoting costos
i have been looking at your technique since very recently, and so far I've had it work for me pretty well. in two hours - 2/2. very promising. just wanted to let you know.
and you're right that GJ pair seems to be very little news driven, which is great as one can concentrate on the technical trading....more or less safely (if that's at all possible on forex markets hehe)
update: 6 additional pips banked 5 mins later (and probably could've been more, but kinda late to wait it out).
so total comes to 20 pips. in 2 hours. goal for the day is done.
Honestly, I have no idea why people want to chase 50-100 pips. Sure it feels good and makes it all seem worthwhile. If there is a trade for 50-100 pips then run with it...but hunt for it all the time is a trap. Don't chase more pips, increase the value of the pips you trade. Heck if you can make $200 a day on 5 pips, why chase 100 pips for $100? It's about 1000 times more in your favour to catch 5 pips than 100. What you want is a consistency in being sure you will always grab 5 pips....that's how you win at this game.

Trade for pip ego or trade to make money.....I'll choose the money.

Best of all, grab your 20 pips and go sit on the beach the rest of the day ...or at least have a life.
  • #717
  • May 15, 2007 5:39pm May 15, 2007 5:39pm
Quoting Spudfyre
One of the most difficult things to beat in trading stochastics is that "panic" that you will enter too late. Trades are lost almost always on too early an entry. This is the hardest part of using stochastics because you get to a point of anticipating their moves before they happen...and it burns you. To trade stochastics requires a zen garden next to your computer
Long time fan... first time post... (on this thread)

Every once in a while I come across an amazing gem on FF... your quote above is one of them. Thanks Spud for the guidance... with the profitability I've had using MTF's I've found myself in the EXACT situation of anticipating trades (rather than letting the charts trade for me).

It's good to have the reminder... though I fear it's something I'll need to be reminded of again! I'm taping it to the monitor just to be sure...

Thanks again for your efforts!
  • #718
  • May 15, 2007 6:01pm May 15, 2007 6:01pm
Quoting Spudfyre
Honestly, I have no idea why people want to chase 50-100 pips. Sure it feels good and makes it all seem worthwhile. If there is a trade for 50-100 pips then run with it...but hunt for it all the time is a trap. Don't chase more pips, increase the value of the pips you trade. Heck if you can make $200 a day on 5 pips, why chase 100 pips for $100? It's about 1000 times more in your favour to catch 5 pips than 100. What you want is a consistency in being sure you will always grab 5 pips....that's how you win at this game.

Trade for pip ego or trade to make money.....I'll choose the money.

Best of all, grab your 20 pips and go sit on the beach the rest of the day ...or at least have a life.
I agree & not
I think you take what the charts give!!

  • #719
  • May 15, 2007 6:25pm May 15, 2007 6:25pm
These are the two basic methods I suggest trading if you wish to win trades on a regular basis and gain consistent pips. Set a reasonable target every day (I suggest 20 pips or less) and win every day. Forget pip egos and trade for consistent wins. Once you know you can win 5,10,15, or 20 pips a day raise the value of your pips. It is 1000x easier to gain 10 pips than 100 pips.


The rest of the other methods and tools have their foundations in these two methods. They are more complicated and provide optional methods of trading stochastics for those who want to experiment.



Method I – Basic Momentum Stochastic Trading


Signal Chart – Daily - direction is the direction we trade in only

Long Entry – 15M and 30M stochastics are very low (under the 20 level). Watch for both stochastics to move upwards together and rise above 20. As the 15/30 rises higher the 1H should be trailing lower but moving upwards or “looking” like it will move above 20 shortly if it is below 20.

Short Entry – 15M and 30M stochastics are very high (above the 80 level). Watch for both stochs to move downwards together and fall below 80.. As the 15/30 fall lower the 1H should be trailing higher but moving downwards or “looking” like it will move below 80 shortly if it is above 80

Exit Strategy – Follow the 15M to 80 (long), switch to 30M chart and follow it to 80 (long) and then the 1H to 80 (long). Optionally chase the 4H up to 80 but the risks are much higher…so is the reward. Don’t look back at the time periods you left behind.

Scalping – Enter the trades at the higher levels for long (61.8) or the lower levels for short (38.2) and follow the above exit strategy for in and out trades.

Method II - Escalator to Pips


Signal Chart – 4H – crossing 20 from below 20 trade long, crossing 80 from above 80 trade short

Long Entry – enter when 15M, 30M, 1H and 4H stochastics are moving up all above 20

Short Entry – enter when 15M, 30M, 1H, 4H stochastics are moving down all below 80

Exit Strategy
Long – exit when stochastics on the 15M hits 80, or the 30M hits 80, or the 1H hits 80, or the 4H hits 80
Short – exit when stochastics on the 15M hits 20, or the 30M hits 20, or the 1H hits 20, or the 4H hits 20
  • #720
  • May 15, 2007 6:39pm May 15, 2007 6:39pm
Quoting TEB63
I agree & not
I think you take what the charts give!!

True...but don't lose it trying to get more than there is.
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