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the key to the mint

  • #2,961
  • Mar 5, 2008 4:58am Mar 5, 2008 4:58am
I've been thinking along this line of neglecting the daily stoch and my submission is this: I think it's better to look at the daily stoch because, the stoch gives the cycle of movement in a trend, though it does not really indicate the strenght of the trend (as does the rsi and ema), it tells us where the trend is going (likely to go) for that moment/time frame. So, if for instance the major trend is up (as may be shown by the the ema and rsi, but the stoch shows a little turnaround is eminent at that moment, then i want to suggest care should be taking when trading such for the day. Wish i can post charts to show some example but cant right now.

Quoting Trader4Life
For all those Mint Trades,

I have a question for those who have been trading live and demo the Mint for about two months or so. Or at least some time before and some time after the fact Harold and the group decided/agreed (my self included) to remove the Stoch indicator requirement from the daily chart to help determine the daily direction. The quesiton is what is your feedback, results, feelings about not having the stoch indicator compared to when it was applied?

I have mix feelings about it. I'm not sure if this past two weeks being very tough has any releationship to the stoch or if the markets have just been channeling too much. I also wonder if tight sideways markets make it tough to reach that 30pip per trade goal at a high 60% winnng rate and should be reducing it down to 20, 15 or 10pips or simply stay out when experiencing these sideways channels.

This is one change in the Trading Plan lately and attempting to review and pin point a few areas that may need change, improvement, or no change due to being in sideways markets.

The above is just me thinking out loud and brainstroming the recent lack of weekly target goal success and wonder what your own thoughts, opinions, or comments are and willing to add to this reflecting period.

T4L
God's Love For You Is Sure Never You Doubt It
  • #2,962
  • Mar 5, 2008 5:18am Mar 5, 2008 5:18am
I also think as an intraday trader, it is better to observe the stoch also on the daily chart, but might not be so necesary for long term traders. I've observed that the ema cross (mint combo) is much reliable, so if i have a fresh cross on the daily, i tend to overlook what the stoch is saying and go for a signal on the hourly but wit the intention of leaving then trade on for days to hit 100-200pips target.
Quoting D liberators
I've been thinking along this line of neglecting the daily stoch and my submission is this: I think it's better to look at the daily stoch because, the stoch gives the cycle of movement in a trend, though it does not really indicate the strenght of the trend (as does the rsi and ema), it tells us where the trend is going (likely to go) for that moment/time frame. So, if for instance the major trend is up (as may be shown by the the ema and rsi, but the stoch shows a little turnaround is eminent at that moment, then i want to suggest care should be taking when trading such for the day. Wish i can post charts to show some example but cant right now.
God's Love For You Is Sure Never You Doubt It
  • #2,963
  • Mar 5, 2008 5:31am Mar 5, 2008 5:31am
hi guys.

with the stochs being on the daily how would u go about taking trades with the g/j & the g/c now cause they r both very o/s but hr charts is giving signals,would u just be cautious or not take trades cause daily is o/s??

cheers andrew
Survive & Preserve
  • #2,964
  • Mar 5, 2008 6:25am Mar 5, 2008 6:25am
Osta

To insert indicators or EA into Metatrader

1 Find EA or indicator
2 Right click and save target as (do not open)
3 Dialog box opens and choose C drive
4 Click to highlight Program files and open
5 Look for your trading platform which could be metatrader or it might be under the name of your broker IE mine is IKON Royal. click to open this.
6 Highlight EXPERTS and open
7 IF its an EA you want to install - click save
8 If its and indicator, open EXPERTS as in step 6 highlight INDICATORS and then save.
9 Close your trading platform and re open.
10. click and drag EA onto chart and also ensure your EXPERT ADVISOR icon in the top toolbar is clicked to green (run)

hope this helps.

Andrew thanks for the answer.

CW
  • #2,965
  • Mar 5, 2008 6:46am Mar 5, 2008 6:46am
ok as i explained yesterday about my finding of the 15 min chart as the lead it would have kept you from 1 losing trade and 1 trade that you would have made 40 in stead of 50 with the combo of the break of last swing low on 15 and the getting in earlier than the 1 hr it seems to work better. on the losing trade you can see on 1 hr chart that if we enter on close of candle on 1 hr chart and look at 15 min we see oversold conditions it makes sense not to enter here are the charts of both these trades
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  • #2,966
  • Mar 5, 2008 7:03am Mar 5, 2008 7:03am
hi harold4x,

just a question for u.so if the 3 indicators x on the 15 min chart before the hr candle is complete u would take the trade??

sorry if silly question but just want 2 understand.

& its good 2 have u apart of this thread again

thanks andrew.
Survive & Preserve
  • #2,967
  • Mar 5, 2008 7:08am Mar 5, 2008 7:08am
yes the 645 gmt closed candle on the 15 min chart is the same as the 600 gmt on the hour so if looking at 545 and on you could enter before the 600 gmt candle closes also if you notice on both trades the market structure the 1 2 3 pattern is also there as a bonus confirmation
  • #2,968
  • Mar 5, 2008 7:12am Mar 5, 2008 7:12am
Quoting harold4x
yes the 645 gmt closed candle on the 15 min chart is the same as the 600 gmt on the hour so if looking at 545 and on you could enter before the 600 gmt candle closes

thanks harold4x

andrew
Survive & Preserve
  • #2,969
  • Mar 5, 2008 7:26am Mar 5, 2008 7:26am
i have also reduced my portfolio to just the gbpusd gbpjpy gbpchf and eurjpy thats my preference you can choose any pair youd like i just use these
  • #2,970
  • Mar 5, 2008 7:51am Mar 5, 2008 7:51am
harold, I'm looking at how you use 15 minute charts for entry signals. Looks like another "golden arrow" in our 4x arsenal. Thanks much.
Hej.
  • #2,971
  • Mar 5, 2008 6:11pm Mar 5, 2008 6:11pm
Quoting harold4x
i have also reduced my portfolio to just the gbpusd gbpjpy gbpchf and eurjpy thats my preference you can choose any pair youd like i just use these

hi harold4x is there any reason why u dropped the other 2

andrew.
Survive & Preserve
  • #2,972
  • Mar 5, 2008 9:02pm Mar 5, 2008 9:02pm
I am glad some of you added your thoughts to the Stoch indicator relative to the daily chart.

I think completely ignoring it is a disadvantage.

I think if its crossed in same direction is important as well as the level its at (80/20). If its in the 10's and is down, i will stay out, but if its channeling i will consider it neutral to correspond to the rsi and ema (provided these two are in agreement). and vice versa for the 80's.

I have come to a conclusion to bring it back, but with little modification. This is one of the biggest changes to the method in the past few weeks that i can identify. Obviously, me my self, and I as a trader is alwasy number one to evaluate and focus on.

I also think possibly recalling the correlation between gbp to other pairs and the jpy to other pairs have not been so clear as to being strong or week, but more so of a mix. This maybe another contributing factor for the past two weeks of tough times. Any one seeing this idea i'm talking about or getting a similar feeling?

Later!

T4L

PS I'm still pondering this wonder 15M time frame to add more preciseness to entry. This may be the key and not so much bringing back the stoch on the daily. still need time to review. what are your thoughts?

So, is your head spinning yet from all these tough questions with no real definitive answer out there with someone telling you are correct or wrong?
  • #2,973
  • Mar 5, 2008 9:08pm Mar 5, 2008 9:08pm
possible trade setups for tomorrow: we'll stick with harold's current list; long gbp/usd : short gbp/jpy. no trade; eur/jpy & gbp/chf. one trade not in this list is one I trade, eur/cad which looks like it might work into a good long trade shortly. watching it on the 15 min. good trading.
Hej.
  • #2,974
  • Mar 5, 2008 9:11pm Mar 5, 2008 9:11pm
just finished looking at Daily chart of GJ to signal today and review yesterday's.

If we had used the stoch requirements and if below 20 its a no trade even if it's a signal because of discretion! We would not have taken the GJ trade last session. Thus not loosing 50+pips!

I think this is enough to bring back stoch with the rules as they were! I can live with far fewer trades then having so many and attempting to rely more so on discretion and correlation. To validate this. In the past two weeks we have had nearly all pairs with signals. Before that, we were only getting about 2-4 pairs with signals. Too many pairs and signals each day may be another related potential to tough times this past two weeks.

I'm not telling anyone to follow this by bringing back stochs or not. I'm talking out the challenges as a trader applying a very good method with the end result of consistently earning 75-100pips weekly.

T4L
  • #2,975
  • Mar 5, 2008 9:13pm Mar 5, 2008 9:13pm
Hey Stitch.....I'm waiting for you to add an animated stith character to your posting! http://forexfactory.com/images/icons/icon7.gif
  • #2,976
  • Mar 5, 2008 9:15pm Mar 5, 2008 9:15pm
T4L, I'm checking what you have been talking about with the stoch's and also the 15 min thing. I'm giving it a little more time & work before I make a decision. Will let you know.
Hej.
  • #2,977
  • Mar 5, 2008 9:16pm Mar 5, 2008 9:16pm
T4L, I'll see what I can do.
Hej.
  • #2,978
  • Mar 5, 2008 9:18pm Mar 5, 2008 9:18pm
Quoting Stitch961
possible trade setups for tomorrow: we'll stick with harold's current list; long gbp/usd : short gbp/jpy. no trade; eur/jpy & gbp/chf. one trade not in this list is one I trade, eur/cad which looks like it might work into a good long trade shortly. watching it on the 15 min. good trading.

hi stitch961 i have g/c as sjhort but oversold.

andrew
Survive & Preserve
  • #2,979
  • Mar 5, 2008 9:25pm Mar 5, 2008 9:25pm
Quoting Trader4Life
just finished looking at Daily chart of GJ to signal today and review yesterday's.

If we had used the stoch requirements and if below 20 its a no trade even if it's a signal because of discretion! We would not have taken the GJ trade last session. Thus not loosing 50+pips!

I think this is enough to bring back stoch with the rules as they were! I can live with far fewer trades then having so many and attempting to rely more so on discretion and correlation. To validate this. In the past two weeks we have had nearly all pairs with signals. Before that, we were only getting about 2-4 pairs with signals. Too many pairs and signals each day may be another related potential to tough times this past two weeks.

I'm not telling anyone to follow this by bringing back stochs or not. I'm talking out the challenges as a trader applying a very good method with the end result of consistently earning 75-100pips weekly.

T4L

hi trader4life,

i will also test this i actually like the stoch on daily.

that g/j trade yesterday was that @ 7gmt as i took it then & locked in profits.it didnt get the 50 pips but 45 so pretty good still.

cheers andrew
Survive & Preserve
  • #2,980
  • Edited 11:28pm Mar 5, 2008 11:00pm | Edited 11:28pm
if you look at post 2965 i showed you how to have gotten 50 with the gbpjpy here is a chart of the gbpusd i took a trade on this in late us session for 25 it was 2nd trade of the day this will show again what i have been talking about the break of a previous swing a 123 pattern and the indicators crossed a nice bit of confluence of events
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