very nice Banzai 
I can see interesting things when price is outside the ropes
I can see interesting things when price is outside the ropes
- #101
- Sep 20, 2007 8:04am Sep 20, 2007 8:04am
- Joined Apr 2007 | Status: RCMM (Risk Analysis Money Manager) | 2,556 Posts
- #103
- Sep 20, 2007 10:09am Sep 20, 2007 10:09am
- Joined Apr 2007 | Status: RCMM (Risk Analysis Money Manager) | 2,556 Posts
- #105
- Nov 1, 2007 11:46am Nov 1, 2007 11:46am
- Joined Oct 2007 | Status: Summer is the best time of year! | 1,284 Posts
To understand more about Stoch Threads, plot them on the charts. Special thanks to fxbs for the OnChart_Stochastic_Channel_(FL_MTF) indicator.
Attached is the pdf version of the documentation on how to trade the Stoch Threads too.
Thanks for the attachments...
Spud's Stochastic Thread Theory is truly a thing of beauty. Even in today's rather indecisive (at least to me) movement (GBP/JPY), the 1 hour chart clearly directed us - long - short - long. The blue lower time frame stochastics leading the way. Then at 1300GMT the near perfect "rope" that gave us another opportunity to earn. Thanks a million Spud.
Is there anyone still using this indicator successfully?
- #114
- Feb 24, 2008 8:04pm Feb 24, 2008 8:04pm
yes i do
Thanks for the attachments...
This is a very interesting indicator and I'll be experimenting with it. Thanks SpudFyre I hope you're doing well and eventually come back to posting here again one of these days...
Is there anyone still using this indicator successfully?
"Analysis Is Hard But Trade Is Easy"
- #117
- Mar 14, 2008 8:45pm Mar 14, 2008 8:45pm
- Joined Apr 2007 | Status: RCMM (Risk Analysis Money Manager) | 2,556 Posts
hello... I wanted to rescue this thread... because this system is so great that now is my avatar
methodology:
when you see a rope in the H1 or H4... you can enter blindly at any level to scalp 10 pips for sure... and who needs more then 10 pips a day ?
1 - Scan all the pairs searching for ropes.. select the best rope.. get your daily 10 pips constantly! enter when the rope is crossing 50 level.
2 - only do it once per day.
3 - come back in 2 years as a millionaire to say thanks
I miss Spud posts.
methodology:
when you see a rope in the H1 or H4... you can enter blindly at any level to scalp 10 pips for sure... and who needs more then 10 pips a day ?
1 - Scan all the pairs searching for ropes.. select the best rope.. get your daily 10 pips constantly! enter when the rope is crossing 50 level.
2 - only do it once per day.
3 - come back in 2 years as a millionaire to say thanks
I miss Spud posts.
hello... I wanted to rescue this thread... because this system is so great that now is my avatar
methodology:
when you see a rope in the H1 or H4... you can enter blindly at any level to scalp 10 pips for sure... and who needs more then 10 pips a day ?
1 - Scan all the pairs searching for ropes.. select the best rope.. get your daily 10 pips constantly! enter when the rope is crossing 50 level.
2 - only do it once per day.
3 - come back in 2 years as a millionaire to say thanks
I miss Spud posts.
Emda,
While I agree that this method is excellent, infact, stochs are fast becoming my favourite indicator, On the 1H charts, I have seen drawdowns of over 50 pips sometimes before the thing goes 10-20 pips in ur favour. Looking at a closed 1H candle and seeing the clos 50-100 pips from the open looks great, but when u go to the lowr tf, there are some huge drawdowns. How do you minimise that?
I remember one chart presented by spud where he entered on the 4H turning, and 2 bars later the thing went against the position by almost 150pips, and his comment was that there would be no reason to exit the position as the stochs had not crossed over, and 1 bar later the positin was in a 100pip profit and gaining.
But if only looking for 10pips per day, then I would assume that one would have to leverage at a reasonable level, and higher leverage would usually mean not having greater than 20-30pip drawdowns.
looking forward to your views and insights.
Regards,
K.
- #120
- Mar 16, 2008 5:24am Mar 16, 2008 5:24am
- Joined Apr 2007 | Status: RCMM (Risk Analysis Money Manager) | 2,556 Posts
Yes Rialto... what amazes me more is that not many people seem to be using this threads system.
Kermut
Do not overleverage too much because a 100 pips drawdown can happen as you say. I had this mistake in the past. Before starting anything... a clear money management must be established... How many pips of drawdown I am going to be ready to support? This is the most important question. Do I want to have x money in 1 year? 2 years? 10 years? This depend on the trader personallity. Each of us must find our stoploss level.
My advice is to go with the 4H timeframe... and never enter if the H1 is going opposite to the 4H. only use 2 timeframes maximum.. if you look at many timeframes you are lost. Another useful tip would be .. enter always in round numbers.... xxx.00 and xxx.50 in GJ. Experience will tell you when is a good moment to enter in a trade or not. once you know the direction... the timing of the entry is very important. Using trendlines and channels can also help.. Once you have a clear direction with the rope... finding an entry is much easier.
The most difficult task in forex... for me.. is to wait and wait and wait.. without trading.. waiting for the best entry. It's difficult to see the chart moving.. and not clicking the button. Solutions for this would be... having a second mouse disconnected to press the click button without risk The best traders only enter when a very low risk opportunity is given. You can win the same with 5 trades in a year... than with 1000 trades in a year.
Kermut
Do not overleverage too much because a 100 pips drawdown can happen as you say. I had this mistake in the past. Before starting anything... a clear money management must be established... How many pips of drawdown I am going to be ready to support? This is the most important question. Do I want to have x money in 1 year? 2 years? 10 years? This depend on the trader personallity. Each of us must find our stoploss level.
My advice is to go with the 4H timeframe... and never enter if the H1 is going opposite to the 4H. only use 2 timeframes maximum.. if you look at many timeframes you are lost. Another useful tip would be .. enter always in round numbers.... xxx.00 and xxx.50 in GJ. Experience will tell you when is a good moment to enter in a trade or not. once you know the direction... the timing of the entry is very important. Using trendlines and channels can also help.. Once you have a clear direction with the rope... finding an entry is much easier.
The most difficult task in forex... for me.. is to wait and wait and wait.. without trading.. waiting for the best entry. It's difficult to see the chart moving.. and not clicking the button. Solutions for this would be... having a second mouse disconnected to press the click button without risk
The best traders only enter when a very low risk opportunity is given. You can win the same with 5 trades in a year... than with 1000 trades in a year.