the key to the mint | Forex Factory

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the key to the mint

  • #1
  • First Post: Edited Mar 1, 2009 11:06pm Nov 20, 2007 7:31pm | Edited Mar 1, 2009 11:06pm
the method can be found on post 3778 page 252 i am involved with a special project so my posts will be few i will pop in from time to time to answer any questions last years record was 96 wins 34 losses i have also stopped private mentoring since this project leaves me no time to myself
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File Type: mq4 StochasticDiNapoli_v1[1].mq4   3 KB | 10,222 downloads | Uploaded Dec 12, 2007 10:31pm
  • #2
  • Nov 21, 2007 6:37am Nov 21, 2007 6:37am
Can you share a chart or two with us?

Thanks
  • #3
  • Nov 21, 2007 7:13pm Nov 21, 2007 7:13pm
here is a couple of charts showing what i mean
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  • #4
  • Edited 6:31am Nov 22, 2007 6:08am | Edited 6:31am
I like your system very simple --
But I want to understand ...all you use is the 3 "lines" to get in
ie. the 3 blue lines over red on both charts & its up
ie. you don't look at the candle?
- the stoch doesn't have to be over /under th 50%
- you are't using some kind of swing hi & low?

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on your 2nd chart above you had an other sell sign but you didn't take.
you took the other 2, why did you not take the one in the middle?
was it because the stoch was very low?
was it because it was the day closing?

great stuff
I am with you the simpler the better
its MTF that win
TEB

http://www.forexfactory.com/images/misc/progress.gif

  • #5
  • Nov 22, 2007 6:37am Nov 22, 2007 6:37am
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Usd/CAD

so if I understand you..
you would get in on the arrow

might you wait to break the hi/low
and for a candle conformation

TEB
  • #6
  • Nov 22, 2007 7:02am Nov 22, 2007 7:02am
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2nd arrow I am in
break of the hi & candle
teb
  • #7
  • Nov 22, 2007 10:54am Nov 22, 2007 10:54am
hi teb a lot of questions let me see if i can answer them the other person wanted some charts so i put them up to show the setup yes there were other signals no i dont use candles formation my signal is coming from the close of a daily candle where ema cross and rsi above 50 and stoc cross then the next day take only trades that the direction of the daily chart so if its long i wait till i have a cross of ema and rsi crosses 50 and stoc cross at the close of that candle if all the critiria is met i just enter i look at gbpusd, gbpjpy gbpchf eurjpy these in my opinion move the most especially gbpjpy as we all no i look to grab between 30-50 bu if move is strong and quick i will trail after 50 i hope i answered all you questions the beauty of this sysle is if has kept me out of false signals95% of time check back on charts even during consolidation you can still grab a piece. most traders chase the market this is letting the market come to them as far as some of you charts a little tough to see put arrow right near candle you are talking about and also make ema line thicker so i can see. i dont wait for a break of nothing i eneter immediately after the candle closes that gave me the signal
  • #8
  • Edited 12:46pm Nov 22, 2007 12:42pm | Edited 12:46pm
hi harold many have asked you to put punctuation in your writings but I'm thinking you don't like punctuation so I am just going to write like you do as maybe you understand better without punctuation so let me start by saying I like this method and thank you for sharing it i did some backtesting and came up with over 6000 possible pips in 2006 over 500 a month but i say possible pips because this was from the signal to the peak move so we really need both a stop loss and an exit strategy what have you been using for either or both of those again thank you for this method

Quoting harold4x
hi teb a lot of questions let me see if i can answer them the other person wanted some charts so i put them up to show the setup yes there were other signals no i dont use candles formation my signal is coming from the close of a daily candle where ema cross and rsi above 50 and stoc cross then the next day take only trades that the direction of the daily chart so if its long i wait till i have a cross of ema and rsi crosses 50 and stoc cross at the close of that candle if all the critiria is met i just enter i look at gbpusd, gbpjpy gbpchf eurjpy these in my opinion move the most especially gbpjpy as we all no i look to grab between 30-50 bu if move is strong and quick i will trail after 50 i hope i answered all you questions the beauty of this sysle is if has kept me out of false signals95% of time check back on charts even during consolidation you can still grab a piece. most traders chase the market this is letting the market come to them as far as some of you charts a little tough to see put arrow right near candle you are talking about and also make ema line thicker so i can see. i dont wait for a break of nothing i eneter immediately after the candle closes that gave me the signal
  • #9
  • Edited 7:30pm Nov 22, 2007 12:52pm | Edited 7:30pm
first off puncuation means nothing if you are making money lol. i have a daily goal of trying to accumilate 30-50 pips sometimes i have trades on more than one of the 4 currencies i trade my stop generally depends on which one of the 4 i trade gbpjpy is 50 gbpusd is 30 but usually they are in place in case of sudden happenings. otherwise it is the cross of 1 of the indicators unless my target is met since i dont use trendlines or fibs or pivot points i have used a set target so if i have 2 trades on i might do 25 pips on each to equal 50 thanks for the little backtest i already did one before i traded this but as you can see it makes sense to trade in the direction of trend there are many ways to determine trend this is just one of them please excuse my none use of punctuation i hated english class and still do lol
  • #10
  • Nov 22, 2007 12:59pm Nov 22, 2007 12:59pm
"punctuation means nothing if you are making money." hehe, very good!

Thank you for your comments here. The backtesting was just going in the direction of the trend the next day after close. I did not drop down to the 1 hour, I just checked in the direction of the trend according to your rules. Thank you again for this system.

Quoting harold4x
first off puncuation means nothing if you are making moneu lol. i have a daily goal of trying to accumilate 30-50 pips sometimes i have trades on more than one of the 4 currencies i trade my stop generally depends on which one of the 4 i trade gbpjpy is 50 gbpusd is 30 but usually they are in place in case of sudden happenings. otherwise it is the cross of 1 of the indicators unless my target is met since i dont use trendlines or fibs or pivot points i have used a set target so if i have 2 trades on i might do 25 pips on each to equal 50 thanks for the little backtest i already did one before i traded this but as you can see it makes sense to trade in the direction of trend there are many ways to determine trend this is just one of them please excuse my none use of punctuation i hated english class and still do lol
  • #11
  • Edited 1:18pm Nov 22, 2007 1:03pm | Edited 1:18pm
the reason i drop to 1 hr is same reason i look on daily charts to confirm direction and enter on 1 hr charts. the 1 hr in my opinion is less noisy and a clearer picture smaller time frames show trends within trends and it could become a little blurry just my opinion here is 2 more charts one shows a signal the other shows no signal keeping you out of market this works 95% of time keeping you out of false signal
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  • #12
  • Nov 22, 2007 3:04pm Nov 22, 2007 3:04pm
I have always been one who thinks that successful trading does not need to be overly complex, nice to see that I am not the only one who thinks so. Keep up the good work.

"Genius sprouts from the seed of simplicity which is itself nurtured by the compost of complexity." - FxHermit
Stay calm, be brave, wait for the signs - Jasper Friendly Bear
  • #13
  • Nov 22, 2007 4:27pm Nov 22, 2007 4:27pm
On 2nd chart, why is there no signal in the lite-blue square? Looks good to me. Is it because sto cross is in over-sold area?
Thnx----Sid
  • #14
  • Nov 22, 2007 4:34pm Nov 22, 2007 4:34pm
Just to be clear here, when you get a signal on the daily, lets say short on day 1, you then only trade shorts on the 1 hr, from day 2 until you get a reverse signal on the daily?
  • #15
  • Nov 22, 2007 4:52pm Nov 22, 2007 4:52pm
Quoting yendis70
On 2nd chart, why is there no signal in the lite-blue square? Looks good to me. Is it because sto cross is in over-sold area?
Thnx----Sid
There won't be a long trade taken this day because the previous day's DAILY candle is SHORT.
( my interpretation)
  • #16
  • Nov 22, 2007 7:35pm Nov 22, 2007 7:35pm
frank thats right if todays daily candle when it closes and all 3 indicators show sell then tomorrow we look for only shorts. those 2 charts show just that there was a short but there was no short signal so no trade even though it looked like a good long it was just a corrective move. the key to the mint is to trade with the trend counter trend trades are tough because they include other things like fibs,elliots etc. i dont want to be that technical as far as to paralyze myself as i said before there are many ways to determine the trend this is just one of them that seems to work for me.
  • #17
  • Nov 22, 2007 8:41pm Nov 22, 2007 8:41pm
Quoting harold4x
frank thats right if todays daily candle when it closes and all 3 indicators show sell then tomorrow we look for only shorts. those 2 charts show just that there was a short but there was no short signal so no trade even though it looked like a good long it was just a corrective move. the key to the mint is to trade with the trend counter trend trades are tough because they include other things like fibs,elliots etc. i dont want to be that technical as far as to paralyze myself as i said before there are many ways to determine the trend this is just one of them that seems to work for me.
Oh so true..... that well worn phrase " the trend is your friend" is still well worth using as one's mantra.

What I like about trading the daily is the ease of doing one's due diligence only once a day. Using bar ends as entry point areas and/or pullbacks in the 1 hour timeframe often allow you to step infront of the market at a point where it is difficult for the market to go against it's own momentum. Stop losses can be within reason and take profits can happen within a short period of time. Steping into an already established trend can also be done with a fair bit of confidence when you are "trend friendly".
Attached Image
Stay calm, be brave, wait for the signs - Jasper Friendly Bear
  • #18
  • Nov 22, 2007 9:13pm Nov 22, 2007 9:13pm
this is correct. let me say this the emas are the initial trend direction the rsi determends the strength and the stoc shows us the cycles within the trading day so when looking for a sell and indicators are pointing long we are in essence waiting for the pullback to enter and its usually at this time the indicators line up. remember indicators are just that they indicate direction they are not some magic bullit
  • #19
  • Nov 22, 2007 9:27pm Nov 22, 2007 9:27pm
Quoting harold4x
this is correct. let me say this the emas are the initial trend direction the rsi determends the strength and the stoc shows us the cycles within the trading day so when looking for a sell and indicators are pointing long we are in essence waiting for the pullback to enter and its usually at this time the indicators line up. remember indicators are just that they indicate direction they are not some magic bullit
The attached chart shows exactly what you are talking about when you say "stoc shows us the cycles within the trading day". The stochastics trend friendly entries have been a gem on the USD/CHF for a while now.
Attached Image
Stay calm, be brave, wait for the signs - Jasper Friendly Bear
  • #20
  • Nov 22, 2007 9:45pm Nov 22, 2007 9:45pm
i personally dont trade chf i use but the 4 pairs that i use seem to move the most especially gbpjpy thats my personal key to the mint
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