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MTF Stochastics

  • #881
  • Jun 20, 2007 6:22pm Jun 20, 2007 6:22pm
Quoting Joel
My trading platform has a 3 hr TF ,but no 4hr TF. Is it imperative that I change platforms to get that 4 hr slot or will 3 hr work ... thanks Joel
Download MT4 , it is free.
  • #882
  • Jun 20, 2007 6:24pm Jun 20, 2007 6:24pm
Quoting guess121
Spud,

You are a legend!!!

Thanks, it's a lot clearer now... ok another question... has anyone tried using ADX 13 for confirmation?

Or are there any other indicators that we could use to confirm trend?

Thanks in advance,
Guess
I'm playing with MTF Cornflower (it is in the Trading Systems) for trend gazing.
  • #883
  • Jun 20, 2007 7:19pm Jun 20, 2007 7:19pm
Quoting Spudfyre
I'm playing with MTF Cornflower (it is in the Trading Systems) for trend gazing.
yeah... same with me Spud! mtf cornflower looks nice! i hope to see your creative ideas on implementing cornflower with your method.

i guess it will be great!
  • #884
  • Jun 20, 2007 7:58pm Jun 20, 2007 7:58pm
Quoting sepak.orang
yeah... same with me Spud! mtf cornflower looks nice! i hope to see your creative ideas on implementing cornflower with your method.

i guess it will be great!
In case you are curious, I am studying MTF Cornflower to guage stochastic move strength. Curiously it is working better at identifying the strength of the MA moves in Cornflower. Still lots of work to do but if I come up with anything I'll post it. MTF Cornflower does make a real nice trend gauge.
  • #885
  • Jun 21, 2007 9:53am Jun 21, 2007 9:53am
Spud,

I am trying to get about 5 pips per trade and finding this very difficult to get this, are there any examples that you can provide to do this?

Thanks in advance,
Guess

Quoting Spudfyre
In case you are curious, I am studying MTF Cornflower to guage stochastic move strength. Curiously it is working better at identifying the strength of the MA moves in Cornflower. Still lots of work to do but if I come up with anything I'll post it. MTF Cornflower does make a real nice trend gauge.
  • #886
  • Edited 7:47pm Jun 21, 2007 2:52pm | Edited 7:47pm
Quoting guess121
Spud,

I am trying to get about 5 pips per trade and finding this very difficult to get this, are there any examples that you can provide to do this?

Thanks in advance,
Guess

Guess,

Why don't you share the specifics of your entries/exits and perhaps some of the people here who have been trading this method can help you reach your goal?
Unus pro omnibus, omnes pro uno
  • #887
  • Jun 21, 2007 3:54pm Jun 21, 2007 3:54pm
Quoting guess121
Spud,

I am trying to get about 5 pips per trade and finding this very difficult to get this, are there any examples that you can provide to do this?

Thanks in advance,
Guess
This is the easy way...but this example is for 10 pips a day on GBPJPY. However, same idea works on the EURUSD with a 3 pip spread for catching 8 pips a trade, so we net 5 pips.

We trade into the stochastic trend always. The trend in this example is set by the 4H stochastic and the 1H stochastic's position. The 4H is above 76.4. The 1H is a bit more fickle depending on your patience. I like it up near 76.4 and or above 76.4 but nothing wrong if it is rising and above 50 either. This is a "feel" thing but the higher it is and if it is rising so much the safer you will be. In other words we want the 1H to be turning back to the 4H or up with the 4H.

The 30M is our trade signal. Whenever it rises from below 50 or below 76.4 and crosses either upwards we are in a long trade so long as our 4H and 1H are where they should be.

I choose the 30M, but you could easily trade the 15M and use the 1H and 30M or 4H and 1H..or even the 4H,1H and 30M to trade "into".

This is basically "momentum" trading with stochastics as explained at the very beginning of this thread. You can add to it by trading when say the 1H and 30M cross the 23.6 line and are headed up to the 4H...or even go short when the 4H,1H and 30M head south and cross 76.4 together. But for simple pip catching...this is about as basic as it gets.

I like doing this with the 5M (EURUSD for 5 pips max) when the 4H or 1H are moving up from 23.6 and just trading the 5M every time it crosses 23.6 (vice versa on the short).

Exit. Exit when you get your 5 pips or the 30M curls and hits the 73.6 if it passes the 73.6, or if it hits the 50 after passing the 50 but not hitting the 73.6 and so on. Or exit if you have any doubt or anything looks like it is curling on you. You can also look at the shorter time frames like 5M,15M for help. If you only see 4 pips take it...take 3...just don't gain 4 and end up at -10.

The chart below is ultra conservative, but still netted 50 pips in 5 days with no losses.
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  • #888
  • Jun 21, 2007 3:59pm Jun 21, 2007 3:59pm
Quoting moneda
Guess,

Why don't you share the specifics or your entries/exits and perhaps some of the people here who have been trading this method can help you reach your goal?
Yes, that would be a good idea. It's easy to look at all the stuff that works but better if we figure out where we went wrong, or if we didn't and the market just burned us.
  • #889
  • Jun 22, 2007 7:34am Jun 22, 2007 7:34am
Here is the latest from EURUSD trading with the 30M and looking for 10 pip net gains. Missed the 1st long opportunity because the 1H and 4H were falling and looking to be going down. Caught the second long opportunty when the 4H started to turn (was flat) and the 1H was rising and near the top when the 30M crossed the 76.4 level.

Now waiting for the 30M to cycle down low and catch it on the way up...4H should be high or higher and 1H still high.
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  • #890
  • Jun 22, 2007 7:41am Jun 22, 2007 7:41am
I actually cought the long at 1.3393, when 30M was above 76.4 and 1H had crossed the 50.

Thanks Spudfyre. This method has given me more confidence.
  • #891
  • Jun 22, 2007 10:20am Jun 22, 2007 10:20am
I brilliant, I will give this a go and see how I do



I am using Meta Trader 4, is it best to use Multiple time frame window or use the MTF Stochs indicator posted from this forum?

I know we have been through this, but other peeps opinons, what are you using spud on your Stochs overlay - is that similar to MTF Indicator?

I am testing both at the moment, but I am finding the MTF indicator lagging with the pivot points for each time frame does not really represent its status - so therefore I am probably finding it difficult to make the call, I dunno.

Thanks in advance,
Guess

Quoting Spudfyre
Here is the latest from EURUSD trading with the 30M and looking for 10 pip net gains. Missed the 1st long opportunity because the 1H and 4H were falling and looking to be going down. Caught the second long opportunty when the 4H started to turn (was flat) and the 1H was rising and near the top when the 30M crossed the 76.4 level.

Now waiting for the 30M to cycle down low and catch it on the way up...4H should be high or higher and 1H still high.
  • #892
  • Jun 22, 2007 11:06am Jun 22, 2007 11:06am
Quoting guess121
I brilliant, I will give this a go and see how I do



I am using Meta Trader 4, is it best to use Multiple time frame window or use the MTF Stochs indicator posted from this forum?

I know we have been through this, but other peeps opinons, what are you using spud on your Stochs overlay - is that similar to MTF Indicator?

I am testing both at the moment, but I am finding the MTF indicator lagging with the pivot points for each time frame does not really represent its status - so therefore I am probably finding it difficult to make the call, I dunno.

Thanks in advance,
Guess
I use both. I use the MTF STochastic indicator /15M chart and 4 stochastics (15,30,1H,4H) to keep a general eye on things (and make pretty charts!) but for actual trading and decision making I am using individual time frames for each.
  • #893
  • Jun 22, 2007 12:01pm Jun 22, 2007 12:01pm
Good time to buy EURUSD...you bet! Go for 10 pips net.
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  • #894
  • Jun 22, 2007 12:36pm Jun 22, 2007 12:36pm
There's 10 pips but since the 30M stoch crossed the 76.4 going to let it run just a little bit more
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  • #895
  • Jun 22, 2007 1:58pm Jun 22, 2007 1:58pm
Spud,

You're a Grand Master at this, I have to give it to you!

I tried some early on and they now it reversed.... grrrr, I entered here, I checked the time frames for 30M, 60M and 4H on 14 3 3 and it showed as going up, where am I making a mistake? I did not really take into too much account the MTF Stoch indicator, though I think I should have, as the pivot points and close of candles, I could not really tell where to enter, though the individual time frames showed everything correct.

Any advice?

Thanks,
Guess

Quoting Spudfyre
There's 10 pips but since the 30M stoch crossed the 76.4 going to let it run just a little bit more
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  • #896
  • Jun 22, 2007 3:04pm Jun 22, 2007 3:04pm
Time to exit. 15 pips net.
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  • #897
  • Jun 22, 2007 3:24pm Jun 22, 2007 3:24pm
Quoting guess121
Spud,

You're a Grand Master at this, I have to give it to you!

I tried some early on and they now it reversed.... grrrr, I entered here, I checked the time frames for 30M, 60M and 4H on 14 3 3 and it showed as going up, where am I making a mistake? I did not really take into too much account the MTF Stoch indicator, though I think I should have, as the pivot points and close of candles, I could not really tell where to enter, though the individual time frames showed everything correct.

Any advice?

Thanks,
Guess
It's a tricky one but there are signs to be watchful for. The 15M is making quite a move downwards and I haven't looked at the 5M but I'd bet it is closer to 23.56 level and falling. You can see the 30M starting to flatten. It's a tough decision here whether to ride out the 5M and see if it turns up or goes to the over sold depths. If 5M was OS and the 15M crossing 50, I'd probably bail out and accept a small loss or the spread loss here....otherwise might want to tighten the stop to 10 or so and see what happens. If it was going to correct and return up, it wouldn't drop much more an the 5M or 15M would give us a hint really quickly. If we played the conservative side we'd probably gain 2-3 pips with the spread and bail out.
Once you get positive, you really don't want to go negative if anything hints at moving against you.

All in all it's a trade where the market is moving against you and there isn't a lot to do about that other than look for some signals and minimize the loss.
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  • #898
  • Jun 22, 2007 3:44pm Jun 22, 2007 3:44pm
Trading just the 15M, we have a clear bail out signal when the 15M recrosses 76.4 on the way down. The earlier entry opportunities were better than this one but nothing wrong with the entry you made other than the market turned against us.
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  • #899
  • Jun 23, 2007 5:44am Jun 23, 2007 5:44am
Spud,

I think I am starting to know where I am going wrong (he smiles)... I think it will take some practise and better stop predicting, what the stochs are going to do, that's why I am getting burnt out!

Thanks a lot!
Guess

Quoting Spudfyre
Trading just the 15M, we have a clear bail out signal when the 15M recrosses 76.4 on the way down. The earlier entry opportunities were better than this one but nothing wrong with the entry you made other than the market turned against us.
  • #900
  • Jun 23, 2007 7:38am Jun 23, 2007 7:38am
Quoting guess121
Spud,

I think I am starting to know where I am going wrong (he smiles)... I think it will take some practise and better stop predicting, what the stochs are going to do, that's why I am getting burnt out!

Thanks a lot!
Guess
Prediction and "too early" are the killers. There is a tendency to hit the panic button because we think we'll miss a trade. Just wait for it and to be corny....the pips will come to you. If we miss a trade, we miss a trade and move on to the next one....there will always be trades. Now, if I could follow that mantra.......
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