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The Art of Trading with MTF Stochastics

  • #841
  • Jan 14, 2008 6:56am Jan 14, 2008 6:56am
Good morning,
Here's a trade I'm currently in and a screenshot near the time of entry. Sold EURUSD at 1.4885. Target is 1.4825 and stop is 1.4925. We'll see how it goes.
Cheers,
CanuckCT
Attached Image
  • #842
  • Jan 14, 2008 12:20pm Jan 14, 2008 12:20pm
Trade update...here is what it looks like now. I'm not liking the way the stochastic threads look. They didn't move like I had hoped they would. Was up +15 at the high, now +9. Stop moved to breakeven and profit target left as is. I may take my pips and close soon.
Cheers,
CanuckCT
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  • #843
  • Jan 14, 2008 1:23pm Jan 14, 2008 1:23pm
Quote
cl3307Murrey Math..
A quick question about MM...

What are the timeframe settings you guys use for this indicator....is it set to "0" so that the current chart timeframe is reflected in the settings....or is it set to be specific to the 1H chart?

Thanks,

cl
I run the Murry Math indicator at default.......have done for several years and I find it works fine....


Well Guys ....last night was like picking money off the floor, started at London opening and by 12.00....I was in bed with the following trades in the bank...

U/J...+132, G/J....+215 ....Aud/usd...+76......( chart pips)

Hope everyone had the same success.

Glenn
  • #844
  • Edited 2:09pm Jan 14, 2008 1:40pm | Edited 2:09pm
Glenn,

Very nice trading. I was sleeping at the london open, and most days I am, it's 4 in the morning here on the east coast of Canada.

I drool at the moves at that time of day.

I'm loving your time zone. In NZ, you can always catch the london open. Most days leading up to london or just after the london open is where you find all the good action. Nice trading.

Cheers,
CanuckCT

Quoting glenn5t
I run the Murry Math indicator at default.......have done for several years and I find it works fine....


Well Guys ....last night was like picking money off the floor, started at London opening and by 12.00....I was in bed with the following trades in the bank...

U/J...+132, G/J....+215 ....Aud/usd...+76......( chart pips)

Hope everyone had the same success.

Glenn
  • #845
  • Jan 14, 2008 1:42pm Jan 14, 2008 1:42pm
Congratulations Glenn, could you post the charts of your trades? I'd be interested in seeing your setups. Thanks!
  • #846
  • Jan 14, 2008 1:56pm Jan 14, 2008 1:56pm
Quote
ocelotCongratulations Glenn, could you post the charts of your trades? I'd be interested in seeing your setups. Thanks
My charts are the same as I have discussed in this thread.....all based of the 1hr TF...

Inserted Code
 CanuckCT[b]Nice trades[/b]
Glenn,

Very nice trading. I was sleeping at the london open, and most days I am, it's 4 in the morning here on the east coast of Canada.

I drool at the moves at that time of day.

I'm loving your time zone. In NZ, you can always catch the london open. Most days leading up to london or just after the london open is all the good action. Nice trading.

Cheers,
CanuckCT
Thanks.....yeah....lucky London open is evening for me, however if I wish to trade New York I have to start at 1.00 in the morning...

So I try to make the most of London's first few hours.....Mondays are quite often good trading days.

I have friends in Canada and there on the same time zone as NY, so I guess they must be on the other coast....

Glenn
  • #847
  • Jan 14, 2008 2:12pm Jan 14, 2008 2:12pm
Quote
ocelot

Hope this helps...

trading this way is simply waiting for a breakout confirmed by A.S indicator and stoch/AO.....and then letting it run to the support/resistance MM lines....

With the G/j i have tried to show the early warning it gave us on the AO....so it was a matter of waiting for the move and confirmation from the other indicators...

Glenn
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  • #848
  • Jan 14, 2008 2:56pm Jan 14, 2008 2:56pm
Thanks Glenn, this does help. I'll be looking more closely when I get home from work. Do you ever trade the asian session or do you prefer the london session? I can usually stay up for the first couple of hours of the london session, I'm wondering if I should even bother with the asian session since there's so little volume in comparison.
  • #849
  • Jan 14, 2008 3:04pm Jan 14, 2008 3:04pm
Quote
ocelotThanks Glenn, this does help. I'll be looking more closely when I get home from work. Do you ever trade the asian session or do you prefer the london session? I can usually stay up for the first couple of hours of the london session, I'm wondering if I should even bother with the asian session since there's so little volume in com
The only time I will look at the Tokoyo session would be if the DOW finished well down or up and therefore there maybe some movement when the Nikki opens....

other then that I stay away from that market, same as I stay out of Friday NY trading...

Glenn
  • #850
  • Jan 14, 2008 5:23pm Jan 14, 2008 5:23pm
CanuckCT - PipAV8tor,

Did you guys have any trades today based on the 5 min. scalp?


T4K
  • #851
  • Jan 14, 2008 5:49pm Jan 14, 2008 5:49pm
One trade today - EURUSD, +15. Not a M5 scalp. H1 timeframe trade that just didn't go anywhere. Better than a negative day. Looking back, there were many better trades today than the one I took. Anyone else take any M5 scalps?
Cheers,
CanuckCT

Quoting tim4kaye
CanuckCT - PipAV8tor,

Did you guys have any trades today based on the 5 min. scalp?


T4K
  • #852
  • Edited 7:57pm Jan 14, 2008 7:40pm | Edited 7:57pm
here was the setup at the open.. i got the confirmation on the 1H and 15min... i entered late at 1.9544 ( i just walked in from work)....rode down about a 9 pip drawdown before it took off.... out at 1.9559 ( figured it would reverse at the 1/8 at 1.9560 or so) and it did....

Thanks for the MM....it's a great tool..

cl
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  • #853
  • Edited 9:05pm Jan 14, 2008 8:48pm | Edited 9:05pm
Possible setups.....

Its 02.43 GMT..... ( wait till after UK news....)

watch G/u for break up to 3/8th line.... needs to close and open new candle..(15min will do)...above 1.9588 to confirm....

You can see the setup on the chart below.....

Watch U/J for break down to at least 3/8th.....( she may fall below) but as the pair is revisting earlier lows I would watch for a bounce of the 3/8th line... needs to close and open new candle..below..107.69 to confirm...

You can see the setup below...

hope this helps to show how it works...

Always wait for confirmation from your indicators..

Glenn

If I get chance I will try to update these charts..
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  • #854
  • Jan 14, 2008 9:17pm Jan 14, 2008 9:17pm
Update on the U/J....it has retrcated to the 1hr 5sma....we shall see now if it turns or where it will contiune to move up towards the 4hr 5sma...

Glenn..
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  • #855
  • Jan 14, 2008 9:39pm Jan 14, 2008 9:39pm
New candle in 20 mins......This pair may move shortly....the GU news maybe already factured into this pair and they are starting the move...


Watch...

Glenn
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  • #856
  • Jan 14, 2008 10:26pm Jan 14, 2008 10:26pm
with low volume and the pending GBP news it looks like it will now stall till later.....

U/J appears to want to bounce of the 4/8th line and may retrace back to the 5 sma (1hr)....

Glenn
  • #857
  • Jan 15, 2008 12:37am Jan 15, 2008 12:37am
As you can see the U/J hit the 4/8ths line........and then bounced...so we wait for another setup...

hope you made some thing out of it...I only took 45 pips...
Attached Image (click to enlarge)
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  • #858
  • Jan 15, 2008 2:11am Jan 15, 2008 2:11am
I'm getting absolutely killed this week, I'm going back to demoing for a few weeks I think. Is anyone using the MTF method having a better go at it lately?
  • #859
  • Jan 15, 2008 3:03am Jan 15, 2008 3:03am
Hi Ocelot. Can you post any examples? Have you previously had consistent success with this method?
Quoting ocelot
I'm getting absolutely killed this week, I'm going back to demoing for a few weeks I think. Is anyone using the MTF method having a better go at it lately?
Gone to a better place
  • #860
  • Jan 15, 2008 4:39am Jan 15, 2008 4:39am
Well I had a good couple of weeks including a stretch of 9 winners in a row. This week though, the GBPJPY has started to trend and I've been getting in too early, too eager to trade, and going against the trend. Just need to relax and focus on the good setups. And of course, to vent. =)
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