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The Art of Trading with MTF Stochastics

  • #561
  • Dec 7, 2007 8:50am Dec 7, 2007 8:50am
I thought that was a well thought through trade and even though it was against the recent trend it was obvious, from your explanation, that the price action supported it.
Gone to a better place
  • #562
  • Dec 7, 2007 8:57am Dec 7, 2007 8:57am
Quoting k2kv
Here's a nice rubberband I took this morning.

I generally trade the M15 toward the H4. I entered as the M15 approached the 38 level, as I feel this is stronger confirmation of the move, less chance of a false move at the 23 level. The 30 & 60 were just beginning to hook back up at the time of my entry.

Move was good for +25, though I left much sooner on the first retrace (took only +6) due to my losing streak the past two weeks, even though all stochs were headed up at the time. I've been extremely "retrace-shy" this week, but I'm working on that.
Jeff,

Nice.... I am going to call you "Elastic Man" one of our super heroes! I will not be around until the 17th... Wish you and all of the Spudytes "Happy Pipping"
Unus pro omnibus, omnes pro uno
  • #563
  • Dec 7, 2007 9:06am Dec 7, 2007 9:06am
Hello,

I will leave for the week with this trade that I am still in.. Put a 20 Trail Stop and the rest of the story to be told at some later date. It has been a rollercoaster week....drank a bottle of Pepto Bismol!! (just kidding) the education continues....
Attached Image (click to enlarge)
Click to Enlarge Name: 13.gif Size: 15 KB
Unus pro omnibus, omnes pro uno
  • #564
  • Dec 7, 2007 9:38am Dec 7, 2007 9:38am
Quoting k2kv
Here's a nice rubberband I took this morning.

I generally trade the M15 toward the H4. I entered as the M15 approached the 38 level, as I feel this is stronger confirmation of the move, less chance of a false move at the 23 level. The 30 & 60 were just beginning to hook back up at the time of my entry.

Move was good for +25, though I left much sooner on the first retrace (took only +6) due to my losing streak the past two weeks, even though all stochs were headed up at the time. I've been extremely "retrace-shy" this week, but I'm working on that.
Did you notice the "engulfing candle" at the start of the move in your UJ trade? I think you must have. I have been reading up on price action and this is the sort of thing I'm looking for all the time now. It seems also that marcin has similar thoughts.
Gone to a better place
  • #565
  • Dec 7, 2007 11:02am Dec 7, 2007 11:02am
Yes Smikester
I look for candlestick formation as they show emotions and are good confirmation.the one you reffer to is not realy outside bar,anyway I think 15M time frame is to low to relay on candlestick paterns,1H and higher woulod be better to analise.
I would like to so much to read Nison's book Candlestick Course but cant get it here in Poland and even shops from Uk or USA dont deliver here,mayby you know how can I get it.
Have a good weekend.
  • #566
  • Dec 7, 2007 12:00pm Dec 7, 2007 12:00pm
Hi Smikester,

Yes, in fact, I did. I probably should have mentioned it, but I am trying to focus on MTF Stochs, and don't want to confuse or complicate things for anyone just coming in.

As far as time frames and candlestick patterns are concerned, Steve Nisson says that they are good on all time frames and I believe him. That was definitely a classic engulfing pattern (good spotting!) which gave me an extra bit of confidence, but it did not signal the trade for me.

Take care all, have a great weekend!

Quoting smikester
Did you notice the "engulfing candle" at the start of the move in your UJ trade? I think you must have. I have been reading up on price action and this is the sort of thing I'm looking for all the time now. It seems also that marcin has similar thoughts.
Jeff Singer, K2KV
  • #567
  • Dec 7, 2007 12:18pm Dec 7, 2007 12:18pm
Quoting moneda
Hello,

I will leave for the week with this trade that I am still in.. Put a 20 Trail Stop and the rest of the story to be told at some later date. It has been a rollercoaster week....drank a bottle of Pepto Bismol!! (just kidding) the education continues....

Hello,

Okay, I reconsidered my position and decided that I needed the positive pips at hand more than the potential for greater rewards....good for the soul.

Have a great weekend
Unus pro omnibus, omnes pro uno
  • #568
  • Dec 7, 2007 2:17pm Dec 7, 2007 2:17pm
Hi there, Im new to stochs being a breakout trader myself,and look forward to being involved with this trading method with you hopefully, just looking for something to add on, have read a good deal of spudfyre,s material (which took a while) which is v. good got a bit lost with all the updates but ive come to the conclusion that his first set of rules, and the escalator methods arent far short of the mark, did he ever publish the final pdf?

One thing i wouldnt mind help with initially is how to put the multiple t/f stochs in one window, Im on mt4,do you use the "stochv2 mq4" and its template, along with spudfyres instructions or is there another way, many thanks in anticipation , Francis
  • #569
  • Dec 7, 2007 4:47pm Dec 7, 2007 4:47pm
Hi Francis,

Welcome to our discussion!

Spud never did publish his final PDF; he just suddenly disappeared from the scene, leaving only his legacy!

The Spudfyre thread is rather long and many, many changes and indicators now make up the bulk of current discussions on that board; that's the main reason I decided to open up this thread -- so we can focus more specifically on his methods.

I use the stochastic indicator #MTF_Multi_Stochastic. I've included it below along with a template that should get you started.

Please feel free to ask questions and post charts of your trades, both good and bad.

Best of luck!




Quoting francis2
Hi there, Im new to stochs being a breakout trader myself,and look forward to being involved with this trading method with you hopefully, just looking for something to add on, have read a good deal of spudfyre,s material (which took a while) which is v. good got a bit lost with all the updates but ive come to the conclusion that his first set of rules, and the escalator methods arent far short of the mark, did he ever publish the final pdf?

One thing i wouldnt mind help with initially is how to put the multiple t/f stochs in one window, Im on mt4,do you use the "stochv2 mq4" and its template, along with spudfyres instructions or is there another way, many thanks in anticipation , Francis
Attached File(s)
File Type: mq4 #MTF Multi Stochastic.mq4   3 KB | 614 downloads
File Type: tpl #m15_2-windows+4-stochs.tpl   8 KB | 428 downloads
Jeff Singer, K2KV
  • #570
  • Dec 7, 2007 4:59pm Dec 7, 2007 4:59pm
Hi Marcin,

I just wanted to take a moment to thank you for your many contributions to our thread. I know how much time it takes to post charts and explain the details of your trade, and I want to assure you that we appreciate your efforts (as well as the efforts of all of our contributors!).

After following your trades for awhile, it looks like you're doing really well. I wonder if you're trading on a demo account or trading for real? I like your approach of taking conservative pips; I tend to do the same, though I expect once I have more experience I will feel more inclined to stay longer.

Good trading, and have a nice weekend!

Quoting marcin25
My today trade for 10 pips:
15/30M crossed 50 and pointing very strongly up tight together,
There was an inside bar on 1H time frame and on the 4H time frame you could see some bars earlier very long lower wicks,one over 90 pips and at the moment outside bar was forming.
the move was over 50pips,I got just 10.
Jeff Singer, K2KV
  • #571
  • Dec 8, 2007 4:05am Dec 8, 2007 4:05am
hi Jeff
than you for this words...and I try to post the charts at the moment of my entry because that is what matter so everybody can see how it looks like at this specific moment,you know that spoting good trades later ,when it is finishd is really simple,but it is not to spot it when it begins.

yes,I am playing with real money,my account now is a litile over 5000USD and I try to risk 2% of my account,so 1Pip for me is somewhere about 2-5 USD.As you said my approach is now rather conservative as I am still learning.My plan is to grow my account and get more experience and than trade bigger position size and stay in trade longer.

what I see now after trading many pairs that is better to stay with 2-3 pairs and get familliar with them than looking at many pairs,because every pair has its specification so it is good to know very goog them.

thank you .
  • #572
  • Dec 8, 2007 4:55am Dec 8, 2007 4:55am
Quoting marcin25
Yes Smikester
I look for candlestick formation as they show emotions and are good confirmation.the one you reffer to is not realy outside bar,anyway I think 15M time frame is to low to relay on candlestick paterns,1H and higher woulod be better to analise.
I would like to so much to read Nison's book Candlestick Course but cant get it here in Poland and even shops from Uk or USA dont deliver here,mayby you know how can I get it.
Have a good weekend.
Marcin,send me your e-mail to [email protected] I can get you the book.
  • #573
  • Dec 8, 2007 2:19pm Dec 8, 2007 2:19pm
thanks Jeff
  • #574
  • Dec 8, 2007 3:04pm Dec 8, 2007 3:04pm
great thread! I have been working on a daily system, but this MTF stochs seems powerful enough to warrant my waking up a a few hours early to catch the london session for some short term trading..

I am pretty excited about getting started on this tomorrow night. I really like the idea of trading when all stochs are going in same direction (best case might be with 15 coming up from overbought/sold..
  • #575
  • Edited 3:59pm Dec 8, 2007 3:48pm | Edited 3:59pm
I am really amazed - looking at the 15M GJ chart. pretty incredible trade results with rubber band and agreement trades..

i have just blocked the candles on my chart and followed the stochs. when i see a good trade, i uncover the candles and see how i would have done. not a loser yet, and lots with 100ish pips. all on GJ
  • #576
  • Dec 8, 2007 4:25pm Dec 8, 2007 4:25pm
Hi Nate,

Welcome aboard!

I wish you the best of luck with MTF Stochastics. Please feel free to share your results and ideas with us.

Good trading...



Quoting natejax
great thread! I have been working on a daily system, but this MTF stochs seems powerful enough to warrant my waking up a a few hours early to catch the london session for some short term trading..

I am pretty excited about getting started on this tomorrow night. I really like the idea of trading when all stochs are going in same direction (best case might be with 15 coming up from overbought/sold..
Jeff Singer, K2KV
  • #577
  • Dec 8, 2007 4:50pm Dec 8, 2007 4:50pm
Hi Nate,

As you may know, stochs are lagging indicators. They follow price. When price moves, so do the stochastics, especially the shorter ones. So, when you look back on the charts it is easy to see that price has moved in accordance with the stochs. Every significant price move will be copied by the stochs. However, when you are in the chart in real time -- going forward -- there are times when the stochs begin to signal a trade opportunity, but price reverses, proving the signal false. Stochastic indicators change just like candles do, during the formation of those candles.

So, here's some quick advice: Just be aware that the charts and stochs may not appear quite the same looking back as they did looking forward, since all the good moves are confirmed by the stochs, but the false starts and moves to the reverse may have originally looked like they were heading in the right direction before they were redrawn on the screen.

You might want to study your monitors for a little while to see how the chart action redraws while price is moving about, before placing your chips on the table.

Have fun, and good luck!

Quoting natejax
I am really amazed - looking at the 15M GJ chart. pretty incredible trade results with rubber band and agreement trades..

i have just blocked the candles on my chart and followed the stochs. when i see a good trade, i uncover the candles and see how i would have done. not a loser yet, and lots with 100ish pips. all on GJ
Jeff Singer, K2KV
  • #578
  • Dec 8, 2007 8:05pm Dec 8, 2007 8:05pm
anyone any idea why multi stoch indicators are making meta freeze I can load onto all charts ok, apart from but GBP/JPY then everything just locks up, have tried deleting and reloading various but to no avail , advice gratefully received thanks, Francis
  • #579
  • Dec 8, 2007 9:06pm Dec 8, 2007 9:06pm
Market is closed now, no data feeds!


Quoting francis2
anyone any idea why multi stoch indicators are making meta freeze I can load onto all charts ok, apart from but GBP/JPY then everything just locks up, have tried deleting and reloading various but to no avail , advice gratefully received thanks, Francis
Jeff Singer, K2KV
  • #580
  • Dec 8, 2007 10:14pm Dec 8, 2007 10:14pm
Thanks Jeff. I had forgotten about that with the stochs, though i have observed it myself with them being redrawn. it seems like if you are looking for a rubber band, you should be safe if you have both 30 and 15 together and for agreement trades, when you have hourly, you are in good shape..

as you said, ill have to see it in practice.

The only tough part of this system is obviously that you need to be at the PC to catch it.. i am planning to demo trades off of it this week. maybe we can consider a signal thread with everyone who uses the system so if someone sees a really good setup, they can post it and alert others using the system. then you subscribe the thread to your cell phone, so if a really good signal comes while you are sleeping, you get it, etc..
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