I saw it when i read the entire thread but can't find it now.... but could someone remind me how to merge my 14,3,3 K% with the 5,3,3 K% on Meta4 or point out the post# to look at.
Thanks in advance!
Thanks in advance!
- #1,226
- Sep 5, 2007 1:34am Sep 5, 2007 1:34am
- Joined Apr 2007 | Status: RCMM (Risk Analysis Money Manager) | 2,556 Posts
Hi,
Does anyone know if/when Spudfyre will be back since his last post on 07-12-07 ?
I miss him
- #1,227
- Edited 6:21pm Sep 5, 2007 5:52pm | Edited 6:21pm
Hello,
I came upon two indicators that may be useful to some of you Spudites.
The first one will assign a color to your candles(chart) when in an overbought/undersold area.
The second one will alert you when the stoch enters and overbought/undersold area. By the way it would be great if one of our contributors can change the codes so that it alerts us when it crosses out of the overbought/undersold areas.
Both indicators will allow you to customize it to your liking. I can help you with some of the changes that you may want to make but I am sure that there are others here more capable than I. Please let me know what you think of these indicators and how best to use them...I am experimenting with them myself.
I must thank Banzai and CJA @ ForexTSD for sharing
I came upon two indicators that may be useful to some of you Spudites.
The first one will assign a color to your candles(chart) when in an overbought/undersold area.
The second one will alert you when the stoch enters and overbought/undersold area. By the way it would be great if one of our contributors can change the codes so that it alerts us when it crosses out of the overbought/undersold areas.
Both indicators will allow you to customize it to your liking. I can help you with some of the changes that you may want to make but I am sure that there are others here more capable than I. Please let me know what you think of these indicators and how best to use them...I am experimenting with them myself.
I must thank Banzai and CJA @ ForexTSD for sharing
Unus pro omnibus, omnes pro uno
- #1,232
- Sep 14, 2007 12:32pm Sep 14, 2007 12:32pm
- Joined Apr 2007 | Status: Gettin' kick in the nutz every day! | 721 Posts
We need to calculate price where K% will cross the certain level of stochastic ( eg. 76.4 , 0r 23.6 or 85 ) later. If Possible, we need the MTF indicator. And also we need to calculate price where the stochs thread will converge. For the basic idea look at this
http://www.ensignsupport.com/email/1689.mhtml
The price is the minimal target price where to taking profit, or where we prepare to enter the trade....
I wish we can make the pricefinder stochastic like this..
Could you make our dream become true, please..
I don't see how they are able to predict the price. Or am I missing something. If I could figure that out, I could code this.
- #1,236
- Edited 4:59am Sep 15, 2007 4:05am | Edited 4:59am
Hello jnevins,
very interesting variation in this thread because I also like to trade the long term being more relaxed with my trades.
And of course: congrats to Spud for his great method and manuals
I would like to ask you some questions if you don't mind:
1.- I think that your original method was only based in weekly stoch (reaching overbought or oversold zones) and then daily stoch to enter the trade (when it's also in that OB or OS zones and crossing). That's the method that I want to test more seriously.
2.- Now I see that you are adding the snake indicator, ergodic, emas and you are trading more in weekly (you continue your short in cable because the weekly stoch didn't cross yet).
Well, I tested the snake indicator (I didn't know it was a 5 period until now, I had the default settings) and in daily it was with green fat bars, but gbp/jpy was falling down and this fall was about -300 pips. When it was by -200 the snake indicator repainted itself with 6 new bars!!! showing thin green bars and few red fat bars... so this indicator with the default setting is not good. Perhaps it's not good at all. I tell you this only to contribute in your method.
That's why I would like to know your opinion about your ema 144, the snake indicator, ergodic, emas, weekly stoch... and if you think that it's better the first strategy entering the trade when daily cross (first the weekly reach OB or OS zone). What I find difficult is when to exit in this method. You know: trading in daily or weekly you need to risk only a little with low lots because you can see -300 (daily) or even -1000 (weekly) in some volatile pairs before recovering again.
So, what's your opinion about the best option to exit the trade when you are trading with daily stoch?
Thanks and congrats for your great contribution!
very interesting variation in this thread because I also like to trade the long term being more relaxed with my trades.
And of course: congrats to Spud for his great method and manuals
I would like to ask you some questions if you don't mind:
1.- I think that your original method was only based in weekly stoch (reaching overbought or oversold zones) and then daily stoch to enter the trade (when it's also in that OB or OS zones and crossing). That's the method that I want to test more seriously.
2.- Now I see that you are adding the snake indicator, ergodic, emas and you are trading more in weekly (you continue your short in cable because the weekly stoch didn't cross yet).
Well, I tested the snake indicator (I didn't know it was a 5 period until now, I had the default settings) and in daily it was with green fat bars, but gbp/jpy was falling down and this fall was about -300 pips. When it was by -200 the snake indicator repainted itself with 6 new bars!!! showing thin green bars and few red fat bars... so this indicator with the default setting is not good. Perhaps it's not good at all. I tell you this only to contribute in your method.
That's why I would like to know your opinion about your ema 144, the snake indicator, ergodic, emas, weekly stoch... and if you think that it's better the first strategy entering the trade when daily cross (first the weekly reach OB or OS zone). What I find difficult is when to exit in this method. You know: trading in daily or weekly you need to risk only a little with low lots because you can see -300 (daily) or even -1000 (weekly) in some volatile pairs before recovering again.
So, what's your opinion about the best option to exit the trade when you are trading with daily stoch?
Thanks and congrats for your great contribution!
Hi TK4,
The yellow line on the chart is the Snake indicator set to its default period of 5. ... it is a non lag MA and the purple line is an 11 period SMA (close). I am finding that the non-lag MA v 7 is even more sensitive as a trigger... Set to 21 days to start....
- #1,237
- Edited 9:41pm Sep 15, 2007 9:37pm | Edited 9:41pm
- Joined Feb 2007 | Status: Trader | 3,237 Posts
Hello jnevins,
very interesting variation in this thread because I also like to trade the long term being more relaxed with my trades.
And of course: congrats to Spud for his great method and manuals
I would like to ask you some questions if you don't mind:
1.- I think that your original method was only based in weekly stoch (reaching overbought or oversold zones) and then daily stoch to enter the trade (when it's also in that OB or OS zones and crossing). That's the method that I want to test more seriously.
2.- Now I see that you are adding the snake indicator, ergodic, emas and you are trading more in weekly (you continue your short in cable because the weekly stoch didn't cross yet).
Well, I tested the snake indicator (I didn't know it was a 5 period until now, I had the default settings) and in daily it was with green fat bars, but gbp/jpy was falling down and this fall was about -300 pips. When it was by -200 the snake indicator repainted itself with 6 new bars!!! showing thin green bars and few red fat bars... so this indicator with the default setting is not good. Perhaps it's not good at all. I tell you this only to contribute in your method.
That's why I would like to know your opinion about your ema 144, the snake indicator, ergodic, emas, weekly stoch... and if you think that it's better the first strategy entering the trade when daily cross (first the weekly reach OB or OS zone). What I find difficult is when to exit in this method. You know: trading in daily or weekly you need to risk only a little with low lots because you can see -300 (daily) or even -1000 (weekly) in some volatile pairs before recovering again.
So, what's your opinion about the best option to exit the trade when you are trading with daily stoch?
Thanks and congrats for your great contribution!
Spud's great contribution was in offering a "safer" method to enter short term trades.... He states in his "Escalator to Pips" Manual, "If you have been following my journal entries in Forex Factory, you will notice that I
have been making extremely short term trades to capture small pips. This I have been doing to demonstrate the use of stochastics over multiple time frames. I also wanted to demonstrate that you can make low gain pip trades and make a consistent income from it."
I teach at the college level, full time, I love my job, and have no desire to sit by a computer all day to trade. I wanted to see if using the idea of looking ahead to longer time frames beyond the daily would provide that same measure of seeing the big picture... just in a period of 4 -6 weeks per trade and reversal, rather than 4 - 6 trades per day!
So in answer to your questions...
1. Correct... It really is a weekly trade system, using the daily for entries only after the weekly stochastic is established in the OB/OS territory... the daily Stoch or BH Ergodic indicator I posted earlier acts as the trigger only at those OB/OS times... I try to ignore it during the middle of the run.
2. Actually I wrote a post on Aug 25th entitled "Weekly Swing Update", http://www.forexfactory.com/showthre...06#post1558606 , Where I posted a chart showing me going long on the GBP/USD... I am still long, even though the BH ERgodic has headed south as the weekly stoch is still in mid range, not in OB/OS territory. This is where I need the faith and patience the Weekly Stochastic helps reinforce.
Agreed on the Snake Force Indicator! It does repaint... it is great for back testing but beware using it going forward.
So... Really what I am relying on is the Weekly Stochastic. Everything else contributes noise... When I see the weekly go into OB/OS territory, only then do I pay attention to daily indicators to help as a trigger for reversals from long to short and the reverse.
I agree about the potential for large draw downs... In back testing, the worst case I found going back on the Cable has been 150 pips. As a simplified money management plan, I would trade 1 lot for each $5,000 of balance... and no stops! Mind you, this is on a demo account for now. I want to run this forward for at least 6 months before I risk actual funds.
This is still a work in progress! All comments are welcome!
Good trading!
- #1,238
- Edited 5:47am Sep 16, 2007 3:51am | Edited 5:47am
Thanks for answering my questions jnevins
Well, I will try your method but trading only in daily chart (weekly is too much and very risky to me) once I have a confirmation from weekly stoch. I mean that if weekly stoch is OB or OS then I will trade with daily stoch only if daily stoch is also OB or OS in the same place and crossed the 80/20 point. While I see daily stoch going right to my desired direction without curving so much, then I will stay in that trade but the important point here is when to exit:
I will exit the position in daily watching candle patterns (double top/button, hammer, spinning top...), support and resistances in high-low important points or simply raising the SL when I am gaining more than 100-150 pips, it can reverse only 100-150 to exit (or trailing the trade). The 28 EMA in daily chart also has a great indication to reverse, many more if it happens in an important point or candle pattern that it's also indicating a reverse (or even in fibonacci 50%), as it has been stated in a different trading method. If the daily stoch reach the other OB/OS zone I will exit the trade, in this case it would be the perfect trade.
Do you exit only when your weekly stoch is OB or OS again?, as you know stoch can reverse in every moment to the opposite direction and it can make you lose a lot of pips trading in weekly.
Well, I will try your method but trading only in daily chart (weekly is too much and very risky to me) once I have a confirmation from weekly stoch. I mean that if weekly stoch is OB or OS then I will trade with daily stoch only if daily stoch is also OB or OS in the same place and crossed the 80/20 point. While I see daily stoch going right to my desired direction without curving so much, then I will stay in that trade but the important point here is when to exit:
I will exit the position in daily watching candle patterns (double top/button, hammer, spinning top...), support and resistances in high-low important points or simply raising the SL when I am gaining more than 100-150 pips, it can reverse only 100-150 to exit (or trailing the trade). The 28 EMA in daily chart also has a great indication to reverse, many more if it happens in an important point or candle pattern that it's also indicating a reverse (or even in fibonacci 50%), as it has been stated in a different trading method. If the daily stoch reach the other OB/OS zone I will exit the trade, in this case it would be the perfect trade.
Do you exit only when your weekly stoch is OB or OS again?, as you know stoch can reverse in every moment to the opposite direction and it can make you lose a lot of pips trading in weekly.
Thanks for the kind words...
Spud's great contribution was in offering a "safer" method to enter short term trades.... He states in his "Escalator to Pips" Manual, "If you have been following my journal entries in Forex Factory, you will notice that I
have been making extremely short term trades to capture small pips. This I have been doing to demonstrate the use of stochastics over multiple time frames. I also wanted to demonstrate that you can make low gain pip trades and make a consistent income from it."
I teach at the college level, full time, I love my job, and have no desire to sit by a computer all day to trade. I wanted to see if using the idea of looking ahead to longer time frames beyond the daily would provide that same measure of seeing the big picture... just in a period of 4 -6 weeks per trade and reversal, rather than 4 - 6 trades per day!
So in answer to your questions...
1. Correct... It really is a weekly trade system, using the daily for entries only after the weekly stochastic is established in the OB/OS territory... the daily Stoch or BH Ergodic indicator I posted earlier acts as the trigger only at those OB/OS times... I try to ignore it during the middle of the run.
2. Actually I wrote a post on Aug 25th entitled "Weekly Swing Update", http://www.forexfactory.com/showthre...06#post1558606 , Where I posted a chart showing me going long on the GBP/USD... I am still long, even though the BH ERgodic has headed south as the weekly stoch is still in mid range, not in OB/OS territory. This is where I need the faith and patience the Weekly Stochastic helps reinforce.
Agreed on the Snake Force Indicator! It does repaint... it is great for back testing but beware using it going forward.
So... Really what I am relying on is the Weekly Stochastic. Everything else contributes noise... When I see the weekly go into OB/OS territory, only then do I pay attention to daily indicators to help as a trigger for reversals from long to short and the reverse.
I agree about the potential for large draw downs... In back testing, the worst case I found going back on the Cable has been 150 pips. As a simplified money management plan, I would trade 1 lot for each $5,000 of balance... and no stops! Mind you, this is on a demo account for now. I want to run this forward for at least 6 months before I risk actual funds.
This is still a work in progress! All comments are welcome!
Good trading!
I am testing now both methods at once, and I see that stochs with 14,3,3 is more reliable trading with weekly/daily.
In my broker I see eur/usd overbought in weekly with this stoch and in daily it's also OB and lines crossed, but stoch has not crossed the 80 point downwards in daily yet.
Watching Fozzy method (daily) I see that eur/usd has not crossed in the RSI 8 with ema 8 inside (it's flat). So, both methods could agree in this point. I must check what will happen in some days
But if I use stochs 5,3,3 then I see in daily that it has crossed the 80 point downwards and it could be a fake signal yet opening a short position. Who knows...
I will trade in a demo account with both methods, perhaps we could join them in a long term strategy.
In my broker I see eur/usd overbought in weekly with this stoch and in daily it's also OB and lines crossed, but stoch has not crossed the 80 point downwards in daily yet.
Watching Fozzy method (daily) I see that eur/usd has not crossed in the RSI 8 with ema 8 inside (it's flat). So, both methods could agree in this point. I must check what will happen in some days
But if I use stochs 5,3,3 then I see in daily that it has crossed the 80 point downwards and it could be a fake signal yet opening a short position. Who knows...
I will trade in a demo account with both methods, perhaps we could join them in a long term strategy.
