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  • #741
  • Jan 3, 2008 1:02pm Jan 3, 2008 1:02pm
sorry ,
I got some problem with computer,
just wanted to say to Moneda,that the 1H stoch did not even close above 20 line so I consider it was very risky trade
  • #742
  • Jan 3, 2008 1:35pm Jan 3, 2008 1:35pm
Quoting marcin25
sorry ,
I got some problem with computer,
just wanted to say to Moneda,that the 1H stoch did not even close above 20 line so I consider it was very risky trade
Hi Marcin,

My first chart talks about the potential for a trade...I did not enter at that point. The second is after the fact. I think that it was not an ideal entry due to the time of day but not as risky as you say. I do think though that I tend to be more adventureous than you...these are pros and cons that fit my style. Discretion after looking at the stochs, price action, pivot points, daily range etc. is something that we all apply to the way we trade.

Keep up your good work and thanks for the feedback.
Unus pro omnibus, omnes pro uno
  • #743
  • Jan 3, 2008 3:30pm Jan 3, 2008 3:30pm
Hi Moneda,

Looks to me like the price did move pretty nicely from the time your M15 crossed the 20 level. I don't see much risk here, either, since it appears that all three stochs had crossed up (not sure why Marcin thinks the H1 did not cross up). And, I'm not sure what time you took that trade. I suspect you simply entered a little later than optimal.

I notice you are using LaGuerre indicators. Do those replace some of your stochs?

Anyhow, don't feel bad -- your 6 pips is a good trade! Please don't allow yourself to be influenced by others into thinking that trades with less than 10 pips are somehow "puny" or "unmanly." We all trade different styles that uniquely suit our own personalities, and as long as you come out ahead at the end of the day, you're doing really well.

If it makes you feel any better, I took a trade earlier this morning on GBPJPY that moved a full 80 pips against me before coming my way. I was determined not to let it take my money this time, and I'm experimenting with some new strategies. Well, after lots of sweat, it finally went +16 in my direction but began to retrace really fast so I got out with only +1 pip!!

That trade took half the morning and put me through the ringer, but it was a good exercise and learning experience. No, really, it was murder!!

Anyhow, I felt great afterward!

Have fun...

Quoting moneda
Hi Marcin,

My first chart talks about the potential for a trade...I did not enter at that point. The second is after the fact. I think that it was not an ideal entry due to the time of day but not as risky as you say. I do think though that I tend to be more adventureous than you...these are pros and cons that fit my style. Discretion after looking at the stochs, price action, pivot points, daily range etc. is something that we all apply to the way we trade.

Keep up your good work and thanks for the feedback.
Jeff Singer, K2KV
  • #744
  • Jan 3, 2008 3:41pm Jan 3, 2008 3:41pm
I couldnt resist to take this trade although that is the bad time to trade.
I managed to take 7 pips but the move was much bigger
have a safety trading , I am going sleep
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  • #745
  • Jan 3, 2008 3:52pm Jan 3, 2008 3:52pm
Nice trade, Marcin,

I will call this stochastic shape, "The Praying Mantis."

Sleep well!


Quoting marcin25
I couldnt resist to take this trade although that is the bad time to trade.
I managed to take 7 pips but the move was much bigger
have a safety trading , I am going sleep
Jeff Singer, K2KV
  • #746
  • Jan 3, 2008 8:25pm Jan 3, 2008 8:25pm
Quoting k2kv
Hi Moneda,

Looks to me like the price did move pretty nicely from the time your M15 crossed the 20 level. I don't see much risk here, either, since it appears that all three stochs had crossed up (not sure why Marcin thinks the H1 did not cross up). And, I'm not sure what time you took that trade. I suspect you simply entered a little later than optimal.

I notice you are using LaGuerre indicators. Do those replace some of your stochs?

Anyhow, don't feel bad -- your 6 pips is a good trade! Please don't allow yourself to be influenced by others into thinking that trades with less than 10 pips are somehow "puny" or "unmanly." We all trade different styles that uniquely suit our own personalities, and as long as you come out ahead at the end of the day, you're doing really well.

If it makes you feel any better, I took a trade earlier this morning on GBPJPY that moved a full 80 pips against me before coming my way. I was determined not to let it take my money this time, and I'm experimenting with some new strategies. Well, after lots of sweat, it finally went +16 in my direction but began to retrace really fast so I got out with only +1 pip!!

That trade took half the morning and put me through the ringer, but it was a good exercise and learning experience. No, really, it was murder!!

Anyhow, I felt great afterward!

Have fun...

Hi Jeff,


Wow, that was some kind of experience for you! I know from previous conversations that you rarely like to go more than 20 pips negative... good job.... you have to develop nerves of steel to trade the g/y.

On my charts I dont show laguerre indicators although I am experimenting with them..those are mtf stochs. In the upper window I have a stoch on a chart indicator with a 84 sma in the middle and an indicator alerting when price closes above/below the 84.

Take care,
Unus pro omnibus, omnes pro uno
  • #747
  • Jan 3, 2008 8:42pm Jan 3, 2008 8:42pm
Quoting moneda
Hi Jeff,


Wow, that was some kind of experience for you! I know from previous conversations that you rarely like to go more than 20 pips negative... good job.... you have to develop nerves of steel to trade the g/y.

On my charts I dont show laguerre indicators although I am experimenting with them..those are mtf stochs. In the upper window I have a stoch on a chart indicator with a 84 sma in the middle and an indicator alerting when price closes above/below the 84.

Take care,
Hi Moneda,

In your lower indicator window, right after M15 stoch, it says, "Laguerre," and that's why I asked...

Yes, nerves of steel will definitely help...
Jeff Singer, K2KV
  • #748
  • Jan 4, 2008 12:43am Jan 4, 2008 12:43am
Hi everyone,

There was some great trading tonight! I made 3 profitable trades: AUDJPY, GBPJPY, and EURJPY for +10, +20, and +10 pips respectively.

Notes:

- More and more I'm liking waiting for the 15m to break over the 50 level to act as confirmation of a move.

- The 15m pullback that occurred on the GBPJPY and EURJPY was a bit nerve-wracking but since the 1h stoch remained unaffected I held the trade and eventually hit my profit target on both pairs.

- Since the 4h was above 20 and moving up I could have followed the escalator rules and waited for either the 30m or 1h to hit 80 and then take profits. Since I didn't do that, I left quite a few pips on the table, but for now I'm just focusing on reliably getting 10 pips (20 on more volatile pairs like the GBPJPY)

- AUDJPY and GBPJPY are too closely correlated, I don't think I'll trade the two simultaneously again. In fact, look at the charts for the two this evening, they're almost identical! To a lesser degree this is also true of the EURJPY.

I'm attracted to the yen-crosses 1. for volatility, and 2. they'll actually move during the asian session which is the most convenient time for me to trade. I think I'll look for other pairs that are less correlated but still might see some movement in the asian session. Otherwise I think I may focus on a yen cross or two, and a major and just stay up for the opening of the london session.

This week's results: 8 winners, 0 losers, +90 pips total!
Attached Images
  • #749
  • Jan 4, 2008 3:41am Jan 4, 2008 3:41am
Quoting k2kv
Hi Moneda,

In your lower indicator window, right after M15 stoch, it says, "Laguerre," and that's why I asked...

Yes, nerves of steel will definitely help...
Jeff,

Okay Sherlock yes, I changed their color to that of the background because they were not part of the trade nor discussed in this wonderful thread.
Unus pro omnibus, omnes pro uno
  • #750
  • Jan 4, 2008 3:47am Jan 4, 2008 3:47am
Quoting ocelot
Hi everyone,

There was some great trading tonight! I made 3 profitable trades: AUDJPY, GBPJPY, and EURJPY for +10, +20, and +10 pips respectively.

Notes:

- More and more I'm liking waiting for the 15m to break over the 50 level to act as confirmation of a move.

- The 15m pullback that occurred on the GBPJPY and EURJPY was a bit nerve-wracking but since the 1h stoch remained unaffected I held the trade and eventually hit my profit target on both pairs.

- Since the 4h was above 20 and moving up I could have followed the escalator rules and waited for either the 30m or 1h to hit 80 and then take profits. Since I didn't do that, I left quite a few pips on the table, but for now I'm just focusing on reliably getting 10 pips (20 on more volatile pairs like the GBPJPY)

- AUDJPY and GBPJPY are too closely correlated, I don't think I'll trade the two simultaneously again. In fact, look at the charts for the two this evening, they're almost identical! To a lesser degree this is also true of the EURJPY.

I'm attracted to the yen-crosses 1. for volatility, and 2. they'll actually move during the asian session which is the most convenient time for me to trade. I think I'll look for other pairs that are less correlated but still might see some movement in the asian session. Otherwise I think I may focus on a yen cross or two, and a major and just stay up for the opening of the london session.

This week's results: 8 winners, 0 losers, +90 pips total!

Ocelot,

Very nice trades and yes the guppy can be veeery scary! Your charts are easy on the eye and helpful. I have come to the same conclusion so for now I focus on the gbp/jpy and the gbp/usd.

Thanks for your contribution
Unus pro omnibus, omnes pro uno
  • #751
  • Jan 4, 2008 3:59am Jan 4, 2008 3:59am
Hello,


Okay, this entry took place during newstime but I waited 3:44min for a brief retrace before entering. The 15/30/60 were on the right track. It just felt right...


Date Event Volume Curr Pair Price P&LP&L USD Commission
1/4/2008 4:33:44 AM Buy10000GBP/USD$1.9746 $0.00$ 0.00 ($0.99)

1/4/2008 4:36:06 AM Sell10000GBP/USD$1.9769 $23.00 $23.00 ($0.99)

2 trades 20000 $23.00
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Unus pro omnibus, omnes pro uno
  • #752
  • Edited 1:05pm Jan 4, 2008 10:00am | Edited 1:05pm
Short on AUDUSD....5-3-3 stochastic momentum crossed zero line and moving down, 14-3-3 had crossed down. Also the 21-10-10 stoch moving down on boxing setup. Short at 87.90 and currently locked in 30 pips. Probably could have entered earlier but didn't due to news.
Cheers,
CanuckCT


Edit: Stopped at +30
Attached Image
  • #753
  • Jan 4, 2008 10:17am Jan 4, 2008 10:17am
Nice trading guys,

Charts nice and clear, too, really helps to understand what you're doing -- thanks!

I picked up +14 today on GBPJPY, learning that this pair goes both ways no matter where, when, or how you enter. It's just a matter of toughing it out!

Three charts: 5M/15M/30M all show the same strong downtrend blue line (25-10-10, 20-10-20 on the M5 chart).

5-3-3 on both the M5 & M15 charts pull back and cross their signals back down below the 50 level, and I entered. Could have held for more, but was happy where I exited.

Hope everyone has a great weekend!
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Jeff Singer, K2KV
  • #754
  • Jan 5, 2008 4:49am Jan 5, 2008 4:49am
Quoting CanuckCT
Hey Jeff,

I have been mixing a lot of different stochastic indicators together and when they all are in sync, it's a winner for sure. But the single biggest difference lately is trading H1 and H4 using 5-3-3 for entry and following the trade into oversold or overbought territory and/or letting the trade run to the next S&R level. But your point seems to be bang on...the real money is to made when price runs for several bars OS or OB.

I'm attaching an indicator I sometimes use...that colors the candle when ob or os. Use it with a 5-3-3 stoch setting and you'll see what I mean about not exiting right away when the stoch hits 80 or 20.

Cheers,
CanuckCT
canuck can you please give me more info on your indicator. is it green on overbought or oversold thanks.
  • #755
  • Edited 5:33pm Jan 5, 2008 7:24am | Edited 5:33pm
Hey lotsofmoney,

Here it is. I've modified the original indicator to only color the OB and OS candles and not the candles bewteen 20 and 80. You set the stochastic value and see how it colors the candles. I find it useful to show you just how long price can stay OB and OS.

I've been studying what price does when the 14-3-3 stochastic is in OB and OS territory. The question I always have is what should I do when the stochastic crosses when in OB or OS territory. What I have found is that if the 14-3-3 stochastic crosses back while OB or OS and does not make it past the 80/20 line, that is a very good indiction that the move will continue on in OB and OS for further candles and is evidence that there is a retrace happening and not a reversal.

My 2 cents.

Cheers,
CanuckCT


Quoting lotsofmoney
canuck can you please give me more info on your indicator. is it green on overbought or oversold thanks.
Attached File(s)
File Type: mq4 Stoch Candle OverBought-Sold-2.mq4   4 KB | 511 downloads
  • #756
  • Jan 7, 2008 5:17pm Jan 7, 2008 5:17pm
Hey everyone,

As you know, I am not a big fan of scalping, but I may be having a change of heart. I have been playing with the Slow Stoch on the 5 min GBP/JPY chart. Using the 5,3,3 setup, there are some very predictable and profitable moves that occur in high volatility times. The reason I mention this is because it does fit in with my philosophy of taking 3-5 pips at a time. Most moves seem to cover a 20-30 pip range in 15-30 minutes. I would like some feed back from some of you other stoch folks, are you seeing what I am seeing and can it really be that easy to make 10-20 pips a day off of a 5 min chart? I'm not sure how it would work on other pairs, but with this pair, the volatility is almost always there. Let me know what you think...
  • #757
  • Jan 7, 2008 6:06pm Jan 7, 2008 6:06pm
Hi PipAV8tor,

I've been playing with the same pair for a couple of weeks now, also using 5-3-3 on the 5 min chart, and you are absolutely right.

The biggest problem is the lack of stability with the M5 timeframe. Price direction can and does change rather rapidly and I've had some pretty severe drawdowns (40-80 pips at times) after entering some trades.

Nevertheless, I like the pair and find its volatility quite appealing. I've been trading mostly the "sexy" setup, waiting for the end of the retrace in a strong trend.

What kind of setups do you look for?



Quoting PipAV8tor
Hey everyone,

As you know, I am not a big fan of scalping, but I may be having a change of heart. I have been playing with the Slow Stoch on the 5 min GBP/JPY chart. Using the 5,3,3 setup, there are some very predictable and profitable moves that occur in high volatility times. The reason I mention this is because it does fit in with my philosophy of taking 3-5 pips at a time. Most moves seem to cover a 20-30 pip range in 15-30 minutes. I would like some feed back from some of you other stoch folks, are you seeing what I am seeing and can it really be that easy to make 10-20 pips a day off of a 5 min chart? I'm not sure how it would work on other pairs, but with this pair, the volatility is almost always there. Let me know what you think...
Jeff Singer, K2KV
  • #758
  • Jan 7, 2008 6:20pm Jan 7, 2008 6:20pm
Quoting PipAV8tor
Hey everyone,

As you know, I am not a big fan of scalping, but I may be having a change of heart. I have been playing with the Slow Stoch on the 5 min GBP/JPY chart. Using the 5,3,3 setup, there are some very predictable and profitable moves that occur in high volatility times. The reason I mention this is because it does fit in with my philosophy of taking 3-5 pips at a time. Most moves seem to cover a 20-30 pip range in 15-30 minutes. I would like some feed back from some of you other stoch folks, are you seeing what I am seeing and can it really be that easy to make 10-20 pips a day off of a 5 min chart? I'm not sure how it would work on other pairs, but with this pair, the volatility is almost always there. Let me know what you think...

Hey Pip... good to see ya. I have been using Spud's scalping method using the 30, 15, and 5 min. charts. I trade the Eur/Usd because of the low spread (2-3) pips. I had a positive November and December and I picked up 7 pips on one trade this morning before work.

T4K
  • #759
  • Jan 7, 2008 6:35pm Jan 7, 2008 6:35pm
Quoting PipAV8tor
Hey everyone,

As you know, I am not a big fan of scalping, but I may be having a change of heart. I have been playing with the Slow Stoch on the 5 min GBP/JPY chart. Using the 5,3,3 setup, there are some very predictable and profitable moves that occur in high volatility times. The reason I mention this is because it does fit in with my philosophy of taking 3-5 pips at a time. Most moves seem to cover a 20-30 pip range in 15-30 minutes. I would like some feed back from some of you other stoch folks, are you seeing what I am seeing and can it really be that easy to make 10-20 pips a day off of a 5 min chart? I'm not sure how it would work on other pairs, but with this pair, the volatility is almost always there. Let me know what you think...

Hi PipAv8tor,

Some charts would be nice. Scalping gbp/jpy is tricky business, because it can move over 10 ticks in one go. Scalping usually would entail higher leverage since we are going for smaller gains, so not sure if one would be willing to take a higher size position GJ with its sporadic movement. I scalp eur/usd on 0.9pip, doesn't take too much movement to come into profit with it.

But I am always willing to change my opinion.

Regards,
K.
  • #760
  • Jan 7, 2008 8:18pm Jan 7, 2008 8:18pm
Basically, the only real method I have been using is waiting for the 5,3,3 to cross over 20 headed to 80 or 80 headed toward 20. That move from one to the other is usually 2 or maybe 3 of the 5 min candles. It can be 4 or 5 but it moves pretty quickly. It is a very quick trade, just looking for that 3-5 pips. I also have the 14,3,3 stoch there to confirm direction and help determine the exit. I do have the mac-d and rsi there as well, but they are very secondary and there pretty much to confirm volume. Almost all of the swings in either direction today were of the 20-30 pip variety with no re-trace surprises.
Since 5pm CST, there have been 7 very predictable moves and each was an easy 5-10 pip safe profit. I tried to post a screen shot but I am having difficulties.
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