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bringin sexy back - stochastics

  • #1,861
  • Apr 10, 2008 1:47pm Apr 10, 2008 1:47pm
melpheos, nice work! when you entered that how far back was your stop? it had to be pretty deep after that long wick and up candle wasn't it?
  • #1,862
  • Apr 10, 2008 2:02pm Apr 10, 2008 2:02pm
Quoting soce
melpheos, nice work! when you entered that how far back was your stop? it had to be pretty deep after that long wick and up candle wasn't it?
198.50 at first but i moved it pretty quickly to a much safer place 198.90 (on the BB middle band )
  • #1,863
  • Apr 10, 2008 2:06pm Apr 10, 2008 2:06pm
Well bad day for me 2nd day live and iīm in that GY trade from the wrong side

Took partitial loss already. Donīt know why i got in. Had some good profits before and now a nice floating loss of 290 € . Hopefuly I can make it back next weeks . But i guess i will !


Now trading live I will be far more picky after that loss. Only trade A+ setups. Thatīs what i MUST follow!
  • #1,864
  • Apr 10, 2008 2:31pm Apr 10, 2008 2:31pm
Quoting DanFX
Well bad day for me 2nd day live and iīm in that GY trade from the wrong side

Took partitial loss already. Donīt know why i got in. Had some good profits before and now a nice floating loss of 290 € . Hopefuly I can make it back next weeks . But i guess i will !


Now trading live I will be far more picky after that loss. Only trade A+ setups. Thatīs what i MUST follow!
Can you take a screenshot of the trade you took ?
  • #1,865
  • Apr 10, 2008 2:43pm Apr 10, 2008 2:43pm
I have been spending time back testing with the F12 key and asking myself if I would take the trade. Would it be appropriate for me to post the ones that I would have taken that failed here and see what you think or is this thread not for that?
  • #1,866
  • Apr 10, 2008 2:45pm Apr 10, 2008 2:45pm
Well not too perfect if you look at the other TFs

I donīt really know why. I had a few small profits and I wanted more so i entered. I even entered again after market went 50 pips or so against me to get a better average! But now theyīre both big loosers.

Just have to control myself to only enter reasonable trades.
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  • #1,867
  • Apr 10, 2008 2:58pm Apr 10, 2008 2:58pm
DanFX, I am confused, when did you enter and what direction? Everything is pointing UP, did you enter down?

My biggest problem I am finding is that most of the runs have progressed so far along before the rules fit that I then don't know where to enter.
  • #1,868
  • Apr 10, 2008 2:59pm Apr 10, 2008 2:59pm
Quoting soce
I have been spending time back testing with the F12 key and asking myself if I would take the trade. Would it be appropriate for me to post the ones that I would have taken that failed here and see what you think or is this thread not for that?
of course, go ahead...
  • #1,869
  • Apr 10, 2008 3:02pm Apr 10, 2008 3:02pm
Quoting DanFX
Well not too perfect if you look at the other TFs

I donīt really know why. I had a few small profits and I wanted more so i entered. I even entered again after market went 50 pips or so against me to get a better average! But now theyīre both big loosers.

Just have to control myself to only enter reasonable trades.
I'm not sure, can you put a cross or some sign to show when you took the 1st trade exactly ?
  • #1,870
  • Apr 10, 2008 3:03pm Apr 10, 2008 3:03pm
Quoting melpheos
198.50 at first but i moved it pretty quickly to a much safer place 198.90 (on the BB middle band )
thx a lot for the feedback. i do believe that i could/would have done that as well.

here is a big question that i can't figure out that i think you probably just know from perhaps experience. how do you know when the signal will work and break through resistance versus bounce back in your face? it seems that lots of people seem to post trades that work coming out of congestion but it seems like every time i do this it gets stuck and then i am immediately sitting in a negative trade wondering what to do. since stoch's lag, it seems that i will always be entering the trade at around the extreme of the resistance level, how do i manage this?

thx
  • #1,871
  • Apr 10, 2008 3:04pm Apr 10, 2008 3:04pm
I entered short . It looked like the fast stoch wanted to go town joining the 20 stoch again. But it didnīt obviously. Loosing is not really a problem as it is part of trading. But Itīs not the best start for a live account . Iīve been very successful on demo and it would be more than great if I only would make half the money live. So thereīs a little awakening right know.
  • #1,872
  • Apr 10, 2008 3:06pm Apr 10, 2008 3:06pm
Quoting melpheos
I'm not sure, can you put a cross or some sign to show when you took the 1st trade exactly ?


I entered at the red line about 15:30.
  • #1,873
  • Apr 10, 2008 3:14pm Apr 10, 2008 3:14pm
Quoting soce
thx a lot for the feedback. i do believe that i could/would have done that as well.

here is a big question that i can't figure out that i think you probably just know from perhaps experience. how do you know when the signal will work and break through resistance versus bounce back in your face? it seems that lots of people seem to post trades that work coming out of congestion but it seems like every time i do this it gets stuck and then i am immediately sitting in a negative trade wondering what to do. since stoch's lag, it seems that i will always be entering the trade at around the extreme of the resistance level, how do i manage this?

thx
For the first question : i dont know if it will go my way or the other but i have an hedge and i know that most of the time it will continue on it's trend...

For the 2nd question : you can't expect to pick top and bottom with the stochastic (never been able to do so myself using the stochastic and very few times using bb ) I keep using s/r to be on a trade faster than what the stoch signal can show me. If price breaks thru a s/r and a signal is forming on the stoch i jump in.
  • #1,874
  • Apr 10, 2008 3:16pm Apr 10, 2008 3:16pm
Quoting DanFX
I entered at the red line about 15:30.
That's what i though. But look the price closely, the price has broke thru the last resistance so it was the sign of a potential reversal hence keeping you out of this trade.

Then you did the classic error of trying to average when the stoch and the price was telling you to get out. Dont worry i made this error at the beginning as well
  • #1,875
  • Apr 10, 2008 3:22pm Apr 10, 2008 3:22pm
Quoting melpheos
That's what i though. But look the price closely, the price has broke thru the last resistance so it was the sign of a potential reversal hence keeping you out of this trade.

Then you did the classic error of trying to average when the stoch and the price was telling you to get out. Dont worry i made this error at the beginning as well

Good to hear that from one of our pros of the system .
Where was the resistance ? Which indicator used ? I use another chart with AutoPivot and on my chart price just went down after touching S2-Level !

Tell me more about S/R from your point of view ? Any good indi?
  • #1,876
  • Apr 10, 2008 4:26pm Apr 10, 2008 4:26pm
No need for an indicator to draw s/r, use only your eyes

I have closed my residual order, tomorrow is friday and also i wont have time to monitor the market.
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  • #1,877
  • Apr 10, 2008 5:03pm Apr 10, 2008 5:03pm
Keep at it Dan, it'll get easier. I had the same issue when I first went live with real money. I made decisions I couldn't account for later..having real $$ on the line makes a difference.
  • #1,878
  • Apr 10, 2008 6:52pm Apr 10, 2008 6:52pm
ok, so let me get this straight. melpheos, you took this trade because it had already barely broken resistance and the stochs were rolling up? so hypothetically, had it bounced off of the resistance line again would you have quickly bailed?
  • #1,879
  • Apr 10, 2008 7:36pm Apr 10, 2008 7:36pm
melpheos, are you saying that you never trade a full reversal? meaning, you will always wait for 1 higher low to form before buying or one lower high before selling?
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  • #1,880
  • Apr 10, 2008 8:52pm Apr 10, 2008 8:52pm
friends...

how do we define this movement..

stoch
green 5,3,3,
blue is 20,10,20
red 50,10,20

the green is at ob level. the blue is moving downward. (as i'm writing this, it moves upward), and the red is at ob area. (i'm worry that the red stoch might move downward when the price looks like it is going north)

should i wait for the green stoch to move down and shoot up back? i'm confused and have to stay away until a real move oocur. any prediction on where the price might be heading to?

p/s: i think, the best thing to do when i'm confused is to stay away from the market, rite?
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