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MTF Stochastics

  • #1,161
  • Aug 20, 2007 12:34am Aug 20, 2007 12:34am
i am just over 40, you are between me and my father. anyway, i am on alpiri demo software, so the dragging part is out. i have opened 4 windows and got the stochs on each time frame, but still cannot figure out how to get the time frames even and all the stochs on one chart. i was reading that spud looks at each chart seperate when he trades in the beginning of the thread. i guess for a beginner i should just try that, make some pips and then graduate to the more complex charts. the question i have now is templates. i set up my charts and saved it under a new template, but will it make all of my charts that way when i open new ones of different currencies, or do i have to save each one under that template???
  • #1,162
  • Aug 20, 2007 1:41am Aug 20, 2007 1:41am
Thanks for sharing this trading system. i'm newbie for this forum as well as forex. First of all, sorry if there are already have an answer in this thread for my question ( please give me a link if any). im confuse when to short/long and exist with this system. what am i understand are

enter long when:
1. 15M and 30M Stochs both be down below 20/30 should be at least near 20
2. Wait until the 30 minute is moving up and well established with both stoch lines in parallel going up (Preferably both stochs are above 20)

When to enter short and when to exit??
im very appreciate if somebody can give a summary on how to enter long/short and when to exit. If possible pls attach an image ( Screen shot). Thanks
  • #1,163
  • Aug 20, 2007 3:41am Aug 20, 2007 3:41am
Quoting mart-hart
MTF Stochastic.

You may like this

By 2 great coders Mladen & Fxbs

Mart

Hi guys
I know Mart posted this code, it is the only way to go using MTF stochs, I am posting it again as mladen posted two, with the one I am posting allowing you to choose which tf you want displayed. Mart, I have not looked at the one you posted so it could also be the second one that mladen posted. Anyways, it's absolutely fantastic. He also posted the same principle using CCI, RSI and ADX for those who use them. Go to forex-tsd and search for 'multiple time frame', it will be on the 2nd last page area.
Attached Image (click to enlarge)
Click to Enlarge Name: ScreenHunter_115.jpg Size: 50 KB
Attached File(s)
File Type: mq4 All Stochastic.mq4   9 KB | 837 downloads
  • #1,164
  • Aug 20, 2007 8:21am Aug 20, 2007 8:21am
I'm a realtive nubie to this thread, but I have a couple years experience in the markets.

This post is for those of you reading who want to know how big to make your trades...

Simple Formula: (Account Balance) / [(Number Losses Until Broke) * (1-for mini, 10-for standard) * (Max Pip Loss on Single Loss)]

For Example: a person with 1000 wanting no more than 2% risk on any worst trade would have 50 trades in there account or (50) perfect losses until broke. 1000 * .02 = 20. 1000 / 20 = 50. They would probably be on a mini account, so (1). Max pip loss lets say (50), i think that was Spud's initial stop loss... So 1000 / [50*1*50] = .4. So each trade should be .4 mini lots.

When I first began I didnt really understand the limits of leverage until i read some random book and it helped me to make apropriately sized trades...
Hope this is helpful
  • #1,165
  • Aug 20, 2007 8:26am Aug 20, 2007 8:26am
Quoting mtrmth
i am just over 40, you are between me and my father. anyway, i am on alpiri demo software, so the dragging part is out. i have opened 4 windows and got the stochs on each time frame, but still cannot figure out how to get the time frames even and all the stochs on one chart. i was reading that spud looks at each chart seperate when he trades in the beginning of the thread. i guess for a beginner i should just try that, make some pips and then graduate to the more complex charts. the question i have now is templates. i set up my charts and saved it under a new template, but will it make all of my charts that way when i open new ones of different currencies, or do i have to save each one under that template???
Mtrmth,

"The dragging part is out." Why?? I have used the Alpari demo and dragging is the same as with every other MT4 program. Did you follow my instructions above, and try to drag the indicator?

When you save a chart as a template, it then becomes available to you when you want to replicate it on one of your chart windows. In other words, after you've saved a template, you can then open a new chart window and apply that template (or any other template you might have saved) to it by right-clicking and selecting templates. Choose the template of your choice and your chart will reflect your selection.

Your new charts will open with NO template. However, you can save your workspace by clicking on file ->save as. Give it a name. Next time you boot up, your last-saved workspace will show up, and all your charts will be in place.

Good luck!
Jeff Singer, K2KV
  • #1,166
  • Aug 20, 2007 9:01am Aug 20, 2007 9:01am
Quoting k2kv
Yes, it does. And very good advice (thanks!).

But I think I'm trying to learn what a "typical" trade should look like. For example, even if I had a few million dollars in my account (which I don't), I probably wouldn't want to see the price move 300 pips against me on a modest one-lot buy, even though I could easily sustain the loss and it would be just a miniscule percentage of my account.

Thanks very much for your input!
I know this is not specific, but in general I prefer trading methods that help me grow my account with a smooth equity curve. This means that I will be thinking of making safer short term trades rather than making longer term trades that could net me more pips, but also submit me to a greater drawdown.
(btw, I do not think of really short term trades as being safer. You can get your backside kicked on a fast moving scalp if you aren't careful.)

nothing lower than M15 for me.
  • #1,167
  • Aug 20, 2007 9:32am Aug 20, 2007 9:32am
[/quote]

I am still enjoying a nice ride down in Cable (GBP/USD pair) based off of your long term trading template and theory.

Thanks again for the template.

T4K[/quote]

Hi T4K,

Back from vacation... Thanks for the validation. I will be following this method for a few more cycles before I start putting actual funds in play.

We are still in a downward trend. The Cable has broken the 144 ema and shows no sign of reversing the weekly trend as yet.

I am attaching today's daily chart. The daily Stoch is omitted... I won't be looking at that until I see signs of a reversal on the weekly.
Attached Image (click to enlarge)
Click to Enlarge Name: snakerepaint 08 20 07.jpg Size: 71 KB
  • #1,168
  • Aug 20, 2007 10:00am Aug 20, 2007 10:00am
Quoting KudzuFX
I know this is not specific, but in general I prefer trading methods that help me grow my account with a smooth equity curve. This means that I will be thinking of making safer short term trades rather than making longer term trades that could net me more pips, but also submit me to a greater drawdown.
(btw, I do not think of really short term trades as being safer. You can get your backside kicked on a fast moving scalp if you aren't careful.)

nothing lower than M15 for me.
Hi Kudzu,

Thanks! That's definitely good advice. I tend to stray a little from what I know, as I love to explore, but it's great to have generous folks like you to pull me back into reality.

I, too, prefer the shorter term -- I like to see the action, and be able to pull the plug the instant I need to get out. I'll trade the M5 more often than anything else. Doesn't seem to hurt as badly when it goes against me!

I tend to waffle a bit between watching stochs and utilizing Phil Nel's 5-min strategy, depnding on the charts. I think switching from EUR$ to US/JY was a mistake for me at this point in my limited experience, so I'm back to EUR$ today.

Thanks again!
Jeff Singer, K2KV
  • #1,169
  • Edited 11:06am Aug 20, 2007 10:31am | Edited 11:06am
I know some of you trade lower TF's and that this isn't true to the stoch rules being talked about in this thread. I have about 6 different stoch setups that I look for. The attached pic shows 1 and explains it briefly.

traden
Attached File(s)
File Type: zip 8555 trend.zip   83 KB | 801 downloads
File Type: zip 8555 trend2.zip   92 KB | 714 downloads
  • #1,170
  • Aug 20, 2007 10:36am Aug 20, 2007 10:36am
Quoting spiritbreezer
Hi guys
I know Mart posted this code, it is the only way to go using MTF stochs, I am posting it again as mladen posted two, with the one I am posting allowing you to choose which tf you want displayed.
I installed this indicator, however, when I check only the timeframes that I need displayed onscreen...they all still show regardless of what is checked.
  • #1,171
  • Aug 20, 2007 10:46am Aug 20, 2007 10:46am
Quoting traden4x
I know some of you trade lower TF's and that this isn't true to the stoch rules being talked about in this thread.

traden
Hi Traden,

Actually, Spud does indeed talk about trading the 5M TF in a post entitled "Quicker Pipping." It's based quite specifically on the fundamental stochastic rules and principles discussed in this thread.

Just thought you'd want to know.

Take care...
Jeff Singer, K2KV
  • #1,172
  • Aug 20, 2007 11:32am Aug 20, 2007 11:32am
yes, i did try and drag the navigator icon. question, left or right click to drag, i thought it was left click??? and i go from the toolbar to drag it to the existing stoch graph??? how do i make sure that the timeframe is say a 15m or 30 min to go on the 1hr chart so i get the right stoch charts??? since you have used alpari, how do i get the same number of time frames so that the graphs will line up instead of using the zoom in or out control?? here is the stupid question, i see the normal stoch graph by itself with a blue solid line and a red dashed line, assuming that they are blue(buying pressure) red(selling pressure)??? did you try the cascade charts, or did you just have them side by side?? did you use seperate charts for each time frame, or did you have different currency pairs on the screen??? i know, massive questions, but my windows skills are minimal and i feel i need a degree to understand this. i am a quick learner, but my beginning knowledge is non existant for this complex software. any and all help woould be appreciated from any and all on my education, so anyone can chime in with tidbits and things to try to get me more familiar with the software. thanks.
  • #1,173
  • Aug 20, 2007 12:05pm Aug 20, 2007 12:05pm
here is another question. if i want to go to another pair, do i have to set up another template with that pair, or can i just click on that currency pair and it will put in that pair on the charts that i have up???
  • #1,174
  • Aug 20, 2007 12:41pm Aug 20, 2007 12:41pm
mtrmth --

I will answer just a couple of your questions; perhaps other will chime in to assist further. You should open and read through the help files of your trading platform, as they will give you valuable information on how to use it, and many of your questions will be answered there. I believe there is a tutorial available elsewhere on the 'Net, and it should be readily accessible via Google.

And I can't really address your windows questions, as I have both MAC and PC on my desk, switch back and forth all day long with a 4-button trackball and would not want to confuse you with possibly incorrect information, nor do I wish to clog up this thread with unrelated postings.

You really should consider taking a brief course in Windows, or just pick up a basic book to help get you up to speed. As straightforward as it is, it will be extremely difficult to manage your MT4 trading platform if you are not first comfortable with Windows. Okay...

Go to the toolbar on the left within the navigator window that you opened earlier and drag the stochastics indicator to your chart.

Sorry, but I don't understand your questions about the time frames, and lining things up. There are others here who are much better-versed in this process.

The blue and red lines are K & D lines, NOT buying or selling pressure. We watch the K lines here.

To change the pair on your chart, simply open up your market watch window (view->market watch) and drag the desired currency pair into your chart. As far as I know, you cannot change the pair via templates.

Hope that helps somewhat, and best of luck...
Jeff Singer, K2KV
  • #1,175
  • Aug 21, 2007 12:58am Aug 21, 2007 12:58am
thanks for the info, any little bit helps!! capsmart helped me with the changing of the pairs, but a little reinforcement always helps. the time frame is a toughie, but i just wanted the same number of frames, say 20, so that when looking at the chart, the stoch lines are representative of and in sync, as best as i can say it. a better way of saying it, the 15 will show more moves than the 30m, the 1 hr and the 4hr, but still matches up with the 4hr and the 1 hr. when i get all the stochs on the one chart, this question will be moot, let's hope. as for windows, i have tried 3 different broker live feeds and they are all different and i get a bit frustrated. it is all windows, why can't they just be the same or really close so once you learn one, they all are understood. sorry just frustrating to have to learn each one. i waste time trying to figure it out instead of trading. i am sure i will get it, the light will go on and i can get on with the real maddening part of trying to make pips. maybe this is the training for patience and non-emotional trading!! no more questions tonight, if i have any nore questions i will pm you so as not to tie up thread.
  • #1,176
  • Edited 7:48am Aug 21, 2007 7:45am | Edited 7:48am
Hi k2kv
If you are like me and using this to trade the 5min charts(or lower), I never take any more than a 10 pip stop, I use MBT with a 4 pip GBP/Yen or Eur/Yen 2 pip spread and have a very very high % result since using this method or a slight variation of it. Use your MT4 charts but trade off MBT or similar. My profits vary from 4 pips to 140 pips and only since taking a sabatical from FOREX (highly recommended) and then coming back and reading the Rainbow thread and Spuds have I finally become consistently profitable, hence being a member for so long without posting.
I have not ever felt that I should offer advice when I can't show the results to back it up. Tonights 3 trades +17 pips +7 pips +21 pips I don't stay watching my charts for too long as my concentration wanders a bit.
Follow the method religiously and you can't go wrong. Read James16 posts about A trades and read the Mantra constantly.
Patience and fortitude conquer all things. Ralph Waldo Emerson
  • #1,177
  • Aug 21, 2007 8:29am Aug 21, 2007 8:29am
I did some more shots of the 8555 trade I presented yesterday for those who like trading the 1/5min charts.

k2kv, I never saw the post by spud of quicker pipper. I will have to search for it and see what his take on it is.

traden
Attached File(s)
File Type: zip 8555 trend3.zip   90 KB | 786 downloads
  • #1,178
  • Aug 21, 2007 8:33am Aug 21, 2007 8:33am
Quoting mach.25
Hi k2kv
If you are like me and using this to trade the 5min charts(or lower), I never take any more than a 10 pip stop, I use MBT with a 4 pip GBP/Yen or Eur/Yen 2 pip spread and have a very very high % result since using this method or a slight variation of it. Use your MT4 charts but trade off MBT or similar. My profits vary from 4 pips to 140 pips and only since taking a sabatical from FOREX (highly recommended) and then coming back and reading the Rainbow thread and Spuds have I finally become consistently profitable, hence being a member for so long without posting.
I have not ever felt that I should offer advice when I can't show the results to back it up. Tonights 3 trades +17 pips +7 pips +21 pips I don't stay watching my charts for too long as my concentration wanders a bit.
Follow the method religiously and you can't go wrong. Read James16 posts about A trades and read the Mantra constantly.

for a wise saying to insert how about this?

"I have not ever felt that I should offer advice when I can't show the results to back it up."


.
  • #1,179
  • Aug 21, 2007 8:34am Aug 21, 2007 8:34am
Hi Cameron,

Thanks for your advice!

Although I do all my charting on MT4, I trade with Oanda; like MBT, their spreads are very appealing.

Unfortunately, I'm only able to trade during the day, and generally not before 8 or 9 am EST, so I try to do the best I can with my available time.

I like Eur/yen, too, but won't trade GBP/Yen due to the higher spread (even at 4p). Once I learn to trade more consistently and gain more confidence, I may feel differently, but I hate to give away 2 pips with every trade, especially when there are other options.

I seem to be making my best trades in the afternoons with E/J. Just seems to move in a slower, more settled predictable pattern at that time and, if I follow Spud's rules closely, I'm generally profitable. I've found that strict adherance to the rules is critical to success, and if I fudge in any way, I usually pay for it.

Rainbow: I visited that thread and, while it seems interesting, I didn't really care for the culture. Seems like no one is willing (or able) to explain what they're doing and will only offer rather cryptic repartee when newcomers show up. Just doesn't work for me.

I've since purchased the Guppy CD, and have been exploring other threads involving the GMMA system (such as the Trend Follower 5-min system here on FF), but I'm trying to remain focused mostly on MTF and Phil Nel's 5-min intraday system. They both make sense, and the members of these two forums are truly very generous.

I've only briefly perused James16, but will revisit on your suggestion.

Also, I'm trying to not overtrade, just waiting for the perfect setups. I took one trade yesterday at 2:30 pm, a perfect mtf setup, made 15 pips in less than a minute, and called it a day.

You're doing really well. Keep up the good work!

Thanks again for your help.
Jeff Singer, K2KV
  • #1,180
  • Aug 21, 2007 8:38am Aug 21, 2007 8:38am
Quoting traden4x
I did some more shots of the 8555 trade I presented yesterday for those who like trading the 1/5min charts.

k2kv, I never saw the post by spud of quicker pipper. I will have to search for it and see what his take on it is.

traden
Good morning, Traden,

You can find it on page 37 of this thread, post #552.
Jeff Singer, K2KV
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