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The Art of Trading with MTF Stochastics

  • #581
  • Dec 9, 2007 2:55am Dec 9, 2007 2:55am
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.
Yep I can get it for you. Even a Polish translation available. Check your pm. Regards...
Gone to a better place
  • #582
  • Edited 3:06am Dec 9, 2007 3:03am | Edited 3:06am
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
Hi natejax, welcome. I'm sure you are going to have lots of success if you study this method carefully. When I started I did just what you have described and it creates a very exciting anticipation.

You probably already know this but I am going to say it anyway. The path the stochastics leave is very different from the one they make in real time. So go in carefully with lots of money management till you get the feel of it. Wait. and wait again, for the high probability trades. Even then, take care.

I tend to trade like a bull in a china shop so I know. Hope you don't mind me saying the above. And I just realised k2kv said something similar
Gone to a better place
  • #583
  • Dec 9, 2007 4:47am Dec 9, 2007 4:47am
Sorry for being inactive in this forum, I am now compiling my strict trading rules, so that I will only trade high probability trades. I am having very great success with MTF stochs, but now I am becoming more careful. I don't want to let this success turn to failure.

THE GOLDEN RULE: WAIT! WAIT! WAIT Don't rush!
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  • #584
  • Dec 9, 2007 4:52am Dec 9, 2007 4:52am
Quoting smikester
Hi natejax, welcome. I'm sure you are going to have lots of success if you study this method carefully. When I started I did just what you have described and it creates a very exciting anticipation.

You probably already know this but I am going to say it anyway. The path the stochastics leave is very different from the one they make in real time. So go in carefully with lots of money management till you get the feel of it. Wait. and wait again, for the high probability trades. Even then, take care.

I tend to trade like a bull in a china shop so I know. Hope you don't mind me saying the above. And I just realised k2kv said something similar
Hi natejax, I second him.

Do not rush to any trades. Try to start from basics. Only follow setups that are very basic. Like the elastic trades, agreement trades.
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  • #585
  • Dec 9, 2007 8:17am Dec 9, 2007 8:17am
Kris, i noticed from your blog that you are really tearing it up. Will you share your rules with us when they are finished? What hours do you do your trading?
  • #586
  • Dec 9, 2007 8:27am Dec 9, 2007 8:27am
Quoting smikester
Hi natejax, welcome. I'm sure you are going to have lots of success if you study this method carefully. When I started I did just what you have described and it creates a very exciting anticipation.

You probably already know this but I am going to say it anyway. The path the stochastics leave is very different from the one they make in real time. So go in carefully with lots of money management till you get the feel of it. Wait. and wait again, for the high probability trades. Even then, take care.

I tend to trade like a bull in a china shop so I know. Hope you don't mind me saying the above. And I just realised k2kv said something similar
Thanks for the tip. At one point does a particular stoch segment finalize? After its corresponding candle is closed?
  • #587
  • Dec 9, 2007 9:21am Dec 9, 2007 9:21am
Quoting natejax
Thanks for the tip. At one point does a particular stoch segment finalize? After its corresponding candle is closed?
Yes, but even then can reverse. Have an eye on the higher timeframes. I like to keep an eye on RSI and EMA's in higher time frames for trends and when the price is consolidating - some or all ema's are converging and it's definitely worth waiting. Stochastics alone will not tell you this very well and you might be wondering why you're in a good set up which is not moving.

Another piece of advice I would give which I know to be true is this: Keep the chart as big as possible, also your indicator. Not to be cluttered up with account information and superfluous indicators. Then keep your chart settings the same, bearing in mind MT4 will squash your view in default setting to fit all the price action on the screen, it's worth experimenting with scale fix so that you can see volatility better. You probably already are looking at ATR for SL settings and TP.

Other people on here? What do you think about the above? Please add your comments/criticisms
Gone to a better place
  • #588
  • Dec 9, 2007 12:43pm Dec 9, 2007 12:43pm
Hi smikester,

I agree. Your advice is always good, always appreciated.

The perceived action can vary widely depending upon how you set up your charts for viewing, so it's definitely worth experimenting.

Hope you have a good week!

Quoting smikester
Yes, but even then can reverse. Have an eye on the higher timeframes. I like to keep an eye on RSI and EMA's in higher time frames for trends and when the price is consolidating - some or all ema's are converging and it's definitely worth waiting. Stochastics alone will not tell you this very well and you might be wondering why you're in a good set up which is not moving.

Another piece of advice I would give which I know to be true is this: Keep the chart as big as possible, also your indicator. Not to be cluttered up with account information and superfluous indicators. Then keep your chart settings the same, bearing in mind MT4 will squash your view in default setting to fit all the price action on the screen, it's worth experimenting with scale fix so that you can see volatility better. You probably already are looking at ATR for SL settings and TP.

Other people on here? What do you think about the above? Please add your comments/criticisms
Jeff Singer, K2KV
  • #589
  • Dec 9, 2007 2:02pm Dec 9, 2007 2:02pm
It seems, logically, that the best trades will have the 4 hour indicator already headed in direction of the trade when the shorter ones line up. you would want to avoid the shorter ones leading the way.
  • #590
  • Dec 9, 2007 3:57pm Dec 9, 2007 3:57pm
Hi Nate,

This is quite true. In general, you want to trade with the longer trend (as indicated by the H4).

Just for fun: The classic "away" trades are entered in a direction away from the longer trend but, to reduce the risk of a turnaround, you can view your H4 stochastic on a 4-hour timeframe chart (rather than on a 15-min chart as when you view all four stochs together), thereby revealing the true character and direction of your H4 stoch. Wait for the H4 to begin turning toward the opposite side as this will indicate a likely new trend direction.


Quoting natejax
It seems, logically, that the best trades will have the 4 hour indicator already headed in direction of the trade when the shorter ones line up. you would want to avoid the shorter ones leading the way.
Jeff Singer, K2KV
  • #591
  • Dec 9, 2007 4:27pm Dec 9, 2007 4:27pm
Quoting kris
Hi natejax, I second him.

Do not rush to any trades. Try to start from basics. Only follow setups that are very basic. Like the elastic trades, agreement trades.
Fantastic trading Kris. I make it a point to read your blog everyday, it is great to see a person being successful.

I wanted you to clarify something for me, your initial charts were all 5M, but your last chart is 15M. Have you changed time frames?

Regards,
K.
  • #592
  • Dec 9, 2007 6:04pm Dec 9, 2007 6:04pm
just went through all my pairs and don't see any immediate or likely near-term setups. will check back in a couple hours. if any of you guys are watching, please post anything you see for discussion/analysis.
  • #593
  • Dec 9, 2007 6:08pm Dec 9, 2007 6:08pm
If I may, your response to whether or not a stochactic segment(bar,candlestick,however a TF is represented),"finalizes," is a bit confusing. On the one hand you say,"yes,"(it does finalize). Then you go on to say,"but even then it can still reverse." If it is ,"finalized," and then reverses, that means that it wasn't,"finalized," dosen't It?
Vincit qui se vincit.
  • #594
  • Dec 10, 2007 1:39am Dec 10, 2007 1:39am
it could be nice long soon on GU,look at the 1H stoch,at the same time 1H is pointing up strongly and 15/30m are pointing down ,that means for me that when 15/30 tourn up it could be strong move
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  • #595
  • Dec 10, 2007 2:02am Dec 10, 2007 2:02am
Quoting Pippopotamus
If I may, your response to whether or not a stochactic segment(bar,candlestick,however a TF is represented),"finalizes," is a bit confusing. On the one hand you say,"yes,"(it does finalize). Then you go on to say,"but even then it can still reverse." If it is ,"finalized," and then reverses, that means that it wasn't,"finalized," dosen't It?
Hi Pippo. You are quite right. To be clear I should have said the stochastic segment traced on the chart finalises at the end of the candle. But that does not mean it is not possible for the stochastic chart (and the price) to set off (from there) in the opposite direction when the next candle opens.

Thank you for clearing up that vagueness.
Gone to a better place
  • #596
  • Dec 10, 2007 2:29am Dec 10, 2007 2:29am
I think the breakout on G/U is comming,if you go to 1H chart and draw trendlines you can see that,Stochastics can show it as aelasticity trade,I already took 10 pips on G/u.I still prefer the price going north,what do you think guys
  • #597
  • Dec 10, 2007 2:46am Dec 10, 2007 2:46am
Quoting marcin25
I think the breakout on G/U is comming,if you go to 1H chart and draw trendlines you can see that,Stochastics can show it as aelasticity trade,I already took 10 pips on G/u.I still prefer the price going north,what do you think guys
I think the question is already answered
Gone to a better place
  • #598
  • Dec 10, 2007 2:52am Dec 10, 2007 2:52am
I managed to take 11.3 pips on it.It is amazing how stochastic show it if you watch it carefully,the stochastic show this move is coming in advance,that is fascinating
1 enter
2 exit
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  • #599
  • Dec 10, 2007 2:54am Dec 10, 2007 2:54am
I think G/u is have now room to go north much more,but I am ok with my over 20 pips already
  • #600
  • Dec 10, 2007 4:12am Dec 10, 2007 4:12am
I took a UJ short trade. it is an agrement trade. it is not ideal, as 4 hour is still overbought, but it is headed downward. The other 3 are all very close together and moving down well above oversold.
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