bringin sexy back - stochastics

Quoting boxingislife

Disliked

lol ok
sorry i wasnt trying to be rude if i came off that way

how about this
send me the trades u have taken along with the charts. the trades that failed
and ill tell u what u did wrong
either by pm or post them in the thread and ill help u

Ignored

Quoting lugopt

Disliked

Hi ForexNew.

Don't be so surprised for the fact you're not profitable with this system. The success of a Trader depends less than 30% of the system used, and I'm a good example of it.

I traded this system a few day and made more than 100 pips. I traded this system another couple days and I lost more than 200 pips. Was the system wrong? No. The problem was that I was buying when the system told to sell and I was selling when system told to buy.

There will be no system that could help me if I don't follow it.

Is that your case too?

Thanks,

Ignored

Quote

Disliked

my sequence:

i glance at the 4h to see what its doing. trend is up then im biased to go long when its the right time on the other time frames. lets say trend is up. i then look at the 1h and 15 min. lets say 1h is trending down. to me this is a retracement and the move down will be small and short lived and then price will consolidate. if everything is as planned the 15 would have turned up and the 1h would be trending down slightly but with more signs of being flat or the 50 is flat for example. then ill start taking trades off the 15 min if its an active time of day and when the first signal works the 1h should be turning up then ill look for more signals on teh 15 min and 1h. this will get easier with practice and experience. ur question is a smart one but it made my head spin and to me for no reason. keep it simple. bad trades will happen and there is no way to avoid them 100%. ive had a bad trade last night. it wasnt a system trade but i was just bored to be honest and lost 30 pips. im over it coz i know theyl happen even though i could have avoid it. i can say with lots of proudness that taking the best setups u will have at least 8 out of 10 trades to be winners.

4h: main trend
1h: watch for retracements from a 4h move or for price consolidation that are saying 4h trend is good and the 1h has just retraced and it isnt moving against the 4h any further
15 min: following teh 4h. look for first trade during active time. if things go smooth, the 1h will follow then things should be smooth sailing from there

Quoting forexnew

Disliked

How to open position in condition like that..it would be good trade??please check
i attached all images i am working in M15 now..i am confuse to think that H4 which is main is going up and M15 and h1 coming down so how to open position and it will be for buy/sell please help...

ANDY

Ignored

Quoting lugopt

Disliked

Hi,

As I told before, I programmed the StochV-Melpheos-ACS.mq4 for another platform and did some backtesting. The results were rather disappointing although I've missing a critical factor: Multi-TimeFrame correlation.

I tested EURJPY both on M15 and M5, from 2-Jan-2007 to 15-Feb-2008, both Long and Short trades. Here are the results.

TimeFrame: M5
Total Net Profit: $ 11,435.39
Max DrawDown: ($ 7,994.78)
Number of Trades: 4003
% Wins : 34%
Max Consecutive Losers: 21
RINA Index: -414.86

TimeFrame: M15
Total Net Profit: $ 11,557.05
Max DrawDown: ($ 9,412.90)
Number of Trades: 1171
% Wins : 36%
Max Consecutive Losers: 20
RINA Index: -95.14

[RINA Index should be positive and higher as possible. Rina Index = (Total Net Profit)/((Average DrawDown)x(% Time in the Market))]

I think there are two main disappointing results: 1) the low percentage of winning trades (between 34% and 38% depeding on the timeframe and Case applied); 2) the high number of consecutive losers. With 20 consecutive losers a trader should have iron emotions and lots of patience to not stop trading this system.

By the way, another important factor could be the exit strategy. The strategy exit I used was any of the following:
1) Medium Stoch leaving Overbought/Oversold zone for Long/Short entries;
2) Slow Stoch leaving Overbought/Oversold zone for Long/Short entries;
3) EMA 5 Crossing Below/Above EMA 13 for Long/Short entries;

If someone suggest another exit technique I'll be happy to test it.

Now I will test other pairs namely EURUSD, GBPUSD and USDCHF.

I would love to have your opinions and suggestions.

Thanks,

Ignored

Quoting lugopt

Disliked

Hi Melpheos, thank you for your message.

I understand that some rules could be dificult to implement but we should define them and then try to backtest them. I agree with you, at least to me, visually, this system seems to work. But if this is the case, we should be able to define the rules.

If we don't have clear rule different people will implemented in different ways and even the same person can use them different depending state of mind or emotions.

After losing +300 pips I decided that I would do not trade again without having a Trading Plan! In that Trading Plan I need to define several things including "I will buy when x happens", "I will sell when y happens". If I don't define this or if I allow myself to decide based on the state of mind on the trade decision, for sure I will continue to lose money and I don't want that. :-) I want to trade for 5, 10, 20 years from now. To do this, I need to be profitable.

Can you or someone elaborate a small set of rule based on the previous one that include a multi-time frame conditions?

Thanks,

Ignored

Quoting candlesticks

Disliked

Hello all:

I have recently read this thread. First of all I would like to thank all of you for posting and educating us newbie forex traders.

I am new to MT4 platform and I am still struggling in getting the 2 stocashtics in one window. Could someone please give me step by step instructions on how to do it.

I have put up 2 different period stochastics in 2 different windows, but I am unable to 'drag' one window onto the other as was suggested on page 1 by a trader.

Your help is highly appreciated.

Ignored

Quoting butterball

Disliked

Personally this system is amazing! I have been demo trading this setup for 6 weeks. 1st 4 weeks I traded at %80(only seeking to take 5-20 pips from the market). The 5th week greed set in and instead of staying the path and banking the 5-20 pips I decided to stretch the trades out in attempt to gain more pips...wrong idea!

This thread has so much useful info but the ideas that really make this system work are "only take the best trades"(time of trades also) and "kill the loosers quick". I have begun to see the market differently, for the opportunities are in abundance thus to be impatient is crazy. Now I just sit back, see the pitch and hit it!

Thanks To All Who Have Contributed To This Thead

Ignored