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The Art of Trading with MTF Stochastics

  • #721
  • Jan 2, 2008 3:45pm Jan 2, 2008 3:45pm
Quoting k2kv
Any thoughts?
Hi Jeff, the first thing I notice is that had you waited for a candle to close with the stoch below 80 you would have been kept out of the first false move down and out of the second trade entirely. I'm still waffling myself on whether to wait for candles to close or not, but I like the idea of going safe, waiting for the close, and just catching a part of the move, and not all of the move.
  • #722
  • Jan 2, 2008 3:53pm Jan 2, 2008 3:53pm
Ocelot
for me it was a kind of trade where all stochastic were pointing in one direction.As you can see it was not a clasic escalator as 1hour stoch was quite high and it was pointing up but the bar was not close.
4H stoch crossed 20 and looked good,15/30 very tight together,strong pointing up and just crossing 50 line which is good sign for me.So my only worry was 1Hour but 4H and 15/30 were perfect for me.I decided it was safe trade for 10 pips.The move was over 80 pips and it was very fast move but later the price went down and none of stochastics reached 80 line.
So I was aware i was aiming for 10 pips and it that this trade was far away from clasic escalator,but to be honest I thought the 15/30M will reach 80 line.
  • #723
  • Jan 2, 2008 3:55pm Jan 2, 2008 3:55pm
I know this feeling Jeff
Good to see you
  • #724
  • Jan 2, 2008 4:05pm Jan 2, 2008 4:05pm
Jeff I dont trade sexy back,but I agree that trading at the time when the price move slowly is not very safe.
I try to trade from 6 am to 16 pm (GMT +1) and most off my loosing trade happened during the slow time.
I am going sleep but you can keep an aye on G/J,E/j,U/j.It looks like a nice short can happen.The 15M stoch drift apart leaving the others in overbought area.It looks very good for now.
  • #725
  • Jan 2, 2008 4:36pm Jan 2, 2008 4:36pm
Hi Ocelot,

You may be right about waiting for candles to close. Will this stop the stoch from repainting any further? When I took this trade the candle had closed and the stoch had fallen well below 80. Of course, the chart looks different now.

Should I have waited for yet another candle close?

Thanks!

Quoting ocelot
Hi Jeff, the first thing I notice is that had you waited for a candle to close with the stoch below 80 you would have been kept out of the first false move down and out of the second trade entirely. I'm still waffling myself on whether to wait for candles to close or not, but I like the idea of going safe, waiting for the close, and just catching a part of the move, and not all of the move.
Jeff Singer, K2KV
  • #726
  • Jan 2, 2008 4:40pm Jan 2, 2008 4:40pm
Hi Marcin,

Yes, it looks like a nice rubberband setup on GBPJPY, the only pair I'm trading right now. Unfortunately, everything seems to have stopped cold, so this trade will not happen until later in the day, once there is more action in the markets.

Nice to see you, too.

Hope you have a nice snooze!

Quoting marcin25
Jeff I dont trade sexy back,but I agree that trading at the time when the price move slowly is not very safe.
I try to trade from 6 am to 16 pm (GMT +1) and most off my loosing trade happened during the slow time.
I am going sleep but you can keep an aye on G/J,E/j,U/j.It looks like a nice short can happen.The 15M stoch drift apart leaving the others in overbought area.It looks very good for now.
Jeff Singer, K2KV
  • #727
  • Jan 2, 2008 6:37pm Jan 2, 2008 6:37pm
Quoting k2kv
Hi Ocelot,

You may be right about waiting for candles to close. Will this stop the stoch from repainting any further? When I took this trade the candle had closed and the stoch had fallen well below 80. Of course, the chart looks different now.

Should I have waited for yet another candle close?

Thanks!
Are you using a custom stochastic indicator? A standard stochastic indicator won't repaint once a candle is closed, but I know that some of the ones that have been customized for use with spud's systems have had that problem.
  • #728
  • Jan 2, 2008 7:17pm Jan 2, 2008 7:17pm
Mine is definitely customized, and it definitely repaints. I can sometimes watch it wiggle all around while price does the same...



Quoting ocelot
Are you using a custom stochastic indicator? A standard stochastic indicator won't repaint once a candle is closed, but I know that some of the ones that have been customized for use with spud's systems have had that problem.
Jeff Singer, K2KV
  • #729
  • Jan 2, 2008 8:40pm Jan 2, 2008 8:40pm
Is anyone here doing 'set it and forget it' trades using any of the mtf systems? Marcin, and anyone else going for small profit targets (10 pips or so) are you monitoring your trades closely or just putting in stop loss and take profit orders and walking away?

ocelot (who is lazy)
  • #730
  • Jan 2, 2008 8:45pm Jan 2, 2008 8:45pm
Hi Ocelot,

I never just walk away.


Quoting ocelot
Is anyone here doing 'set it and forget it' trades using any of the mtf systems? Marcin, and anyone else going for small profit targets (10 pips or so) are you monitoring your trades closely or just putting in stop loss and take profit orders and walking away?

ocelot (who is lazy)
Jeff Singer, K2KV
  • #731
  • Jan 2, 2008 9:10pm Jan 2, 2008 9:10pm
Ocelot,
I had my largest trade to date today when I sold GBPJPY, set my stop and walked away for two + hours. I'm trading longer time frames now and have to let the trades work a bit. I'm trading 5-3-3 on H1, H4 and daily.
Cheers,
CanuckCT

Quoting ocelot
Is anyone here doing 'set it and forget it' trades using any of the mtf systems? Marcin, and anyone else going for small profit targets (10 pips or so) are you monitoring your trades closely or just putting in stop loss and take profit orders and walking away?

ocelot (who is lazy)
  • #732
  • Jan 2, 2008 9:29pm Jan 2, 2008 9:29pm
Hi Canuck,

Nice trending day for GJ!

What kind of drawdown are you seeing on the longer timeframes, on average? How deep are you placing your stops?

Thanks!

Quoting CanuckCT
Ocelot,
I had my largest trade to date today when I sold GBPJPY, set my stop and walked away for two + hours. I'm trading longer time frames now and have to let the trades work a bit. I'm trading 5-3-3 on H1, H4 and daily.
Cheers,
CanuckCT
Jeff Singer, K2KV
  • #733
  • Jan 3, 2008 12:20am Jan 3, 2008 12:20am
Here are two trades I took this evening, both for +10 pips. These occurred during the asian session and as you can see the market was ranging. This is pretty typical for the asian session even with yen-based pairs unless there's a big news announcement, or like, a war. The stochs were coming up out of oversold and a bit jumbled but I liked the fact that the 15m on both trades had crossed above the 50. The 15m started to turn over before reaching the 80 level but I held on for my profit target. As you can also see this would have been a good trade to hold onto once it moved into overbought as it gave even more pips there.
Attached Images
  • #734
  • Jan 3, 2008 7:11am Jan 3, 2008 7:11am
my entrey on ej
exit with 10 pips just in in one minute,very nice
The move now is over 30 pips
Attached Image (click to enlarge)
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  • #735
  • Jan 3, 2008 10:00am Jan 3, 2008 10:00am
set it and forget it for me do not have sense when trading with mtf stoch.
I always put initial stop loss at 50 pips but this SL do not stop bad trade,it is to protect my account just in case something abnormal happen(war...).
My initial SL is almost never hit.when I am in trade and the price go against me I watch how the stochs behave.If ,for example, 15M stoch move against me I watch carefuly what effect it have on other stochs.If 30 M do not react at all or react very slowly I know I can stay in a trade.If 30 and 15 M go against me but 1H and 4H do not react at all I still consider to stay in a trade.
so leaving my computer when being in trade do not have sense as trading in the way Spud learn us reguire us to watch it all the time.
Anaway that is what I am doing.
  • #736
  • Jan 3, 2008 10:07am Jan 3, 2008 10:07am
Ej now looks interesting.
1h/30/15 went into overbought and the 4 h is still below 20.It can lead to nice short.I hope stochs will show us the way.
Daily is just crossing 20 down which is good.
Attached Image (click to enlarge)
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  • #737
  • Jan 3, 2008 10:16am Jan 3, 2008 10:16am
Hello,

Hope everyone is healthy & happy . Take a look at the chart. The stoch are nice and tigh right now...potential for an escalator. We will see.... remember that the stoch look easier after the fact..price action rules but we are looking for the 15/30/60 to work in unison...ideally... of course keep your eye on the 4hr trend.

Good luck to all.
Attached Image (click to enlarge)
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Unus pro omnibus, omnes pro uno
  • #738
  • Jan 3, 2008 12:30pm Jan 3, 2008 12:30pm
Hello Folks,

Here is a follow up to my previous post... as you can see the stoch moved significantly but because of the time of the day, its movement does not coincide with the price going up that much. I managed to squeeze 6 pips but I got out.... until a more volatile time.
Attached Image (click to enlarge)
Click to Enlarge Name: 13.gif Size: 21 KB
Unus pro omnibus, omnes pro uno
  • #739
  • Jan 3, 2008 12:59pm Jan 3, 2008 12:59pm
Moneda
you are lucky you got your 6 pips,1H stoch did not even close above 20 line so it was pretty rhttp://www.forexfactory.com/images/icons/icon14.gif
Thumbs upisky trade.
be carefull
  • #740
  • Jan 3, 2008 1:00pm Jan 3, 2008 1:00pm
Quoting marcin25
Moneda
you are lucky you got your 6 pips,1H stoch did not even close above 20 line so it was pretty rhttp://www.forexfactory.com/images/icons/icon14.gif
Thumbs upisky trade.
be carefull
.
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