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bringin sexy back - stochastics

  • #61
  • Jan 23, 2007 11:47am Jan 23, 2007 11:47am
Quoting boxingislife
well the main thing is for the 20 or 50 to cross the signal line in a specific direction. it doesnt matter if 50 is above 20 and trend is up. the main thing is for both of them to have crossed their signal line up or down thats the main way to confirm the trend.
post a picture of what u saw and ill explain some more
Hi boxingislife, I've posted today's GBP/USB chart (TF = M15). Waiting for your further explanation. Thank you...
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  • #62
  • Jan 23, 2007 12:10pm Jan 23, 2007 12:10pm
Quoting moonchild
This goes with the last post.

Here is the 15M chart for the same time period. You will notice that the first 2 (good) trades still look good but the third is a trade that I think none of you would have taken. It would just plainly have been a bad trade, but that was not obvious on the 1H chart. If you check the 30M chart that third trade did not look good there either.

Check this approach out with whatever system you use, I think that you will find it invaluable.
hello moonchild, I checked my USDCHF chart (M15), but learned that we both have 20,10,20 ; 50,10,20 and 5,3,3 stoch, but resulted different guidance in the indicator window. I wonder what makes it different?

I'm using MA Method: Simple and Price Field: Low/High. How about you?

boxingislife, would you pls check the same chart for me? Thanks...
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  • #63
  • Jan 23, 2007 2:02pm Jan 23, 2007 2:02pm
forexdanofsa

fairly good setup. the only thing that would make me cautious is the fact that 20 50 and 100 are all above 80 means more possible upward movements. but they were trending down nicely and in a case like that to be on the safe side wait for the 5 to cross and the bar to close so ur entry would be really good. and you could have still caught a pretty big move
  • #64
  • Edited 2:19pm Jan 23, 2007 2:07pm | Edited 2:19pm
Here are three nice trades on the GBP/USD pair today. Could have gotten you over 100pips.

When I use this method on the 15minute charts, I like to wait for the close of the candle. And most importantly, I like the candle to be a reversal type. Example: hammer, doji, spinning top, etc...

Trade 1: Buy, 20 and 50 were trending up, 5 retraced halfway and a Doji formed. Here's a situation when the 20 was below the 50, but since they were trending up it was still a good trade.

Trade 2: Sell, 20 and 50 were below their signal lines and trending down, 5 retraced halfway, consolidation formed, 2 Hammers formed. Perfect trade setup.

Trade 3: Sell, 20 and 50 were still below their signal lines and trending down at a nice angle, 5 retraced a little, consolidation formed, Hammer/Doji formed. ( you could have waited until the second time the 5 retraced and a bigger hammer formed around 1800GMT) ***This trade is near the US session ending, activity is slowing down and you'd probably only want to get 10 or 15pips***
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  • #65
  • Jan 23, 2007 2:10pm Jan 23, 2007 2:10pm
Quoting marukochan
Hi boxingislife, I've posted today's GBP/USB chart (TF = M15). Waiting for your further explanation. Thank you...


like i said the main thing for a trend is the 20 to cross its signal line and the 50 to cross its signal line in the same direction.
i dont emphasize if 20 should be above 50 in uptrend or vice versa my main thing is the cross with their signal line but its a plus if its an uptrend and the 20 is above the 50. just dont base ur trades off of that.
  • #66
  • Jan 23, 2007 2:14pm Jan 23, 2007 2:14pm
In regards to my chart do you mean to wait for the 5 to cross above the 80 and if all shows sell then to sell? Thanks
  • #67
  • Edited 3:05pm Jan 23, 2007 3:01pm | Edited 3:05pm
Quoting Tw0eleven
Here are three nice trades on the GBP/USD pair today. Could have gotten you over 100pips.

When I use this method on the 15minute charts, I like to wait for the close of the candle. And most importantly, I like the candle to be a reversal type. Example: hammer, doji, spinning top, etc...

Trade 1: Buy, 20 and 50 were trending up, 5 retraced halfway and a Doji formed. Here's a situation when the 20 was below the 50, but since they were trending up it was still a good trade.

Trade 2: Sell, 20 and 50 were below their signal lines and trending down, 5 retraced halfway, consolidation formed, 2 Hammers formed. Perfect trade setup.
Trade 3: Sell, 20 and 50 were still below their signal lines and trending down at a nice angle, 5 retraced a little, consolidation formed, Hammer/Doji formed. ( you could have waited until the second time the 5 retraced and a bigger hammer formed around 1800GMT) ***This trade is near the US session ending, activity is slowing down and you'd probably only want to get 10 or 15pips***
very nice explanation 211

i also like to look for reversal bars and even trendline breaks but i thought id get into that later on and let people understand the basics first and the main stuff u need to enter a successful and profitable trade.

did u take those on a live account or demo or u just watched them during teh day?

for anyone trying this system i suggest sticking to 2-3 pairs with 5 and 15 min chart each. u dont need to look at more or else ull go nuts. i mainly watch gbpusd and usdchf on 5 and 15 but i glance at other pairs and timeframes and take trades. but i strongly suggest to stick to 5 and 15 min on 2-3 pairs

211 u can also catch the move down on the 5 min. the first one the 20 and 50 are above the 80 line so we wait for teh 5 to cross down and enter and the next one is a continuation
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  • #68
  • Jan 23, 2007 3:06pm Jan 23, 2007 3:06pm
Quoting forexdanofsa
In regards to my chart do you mean to wait for the 5 to cross above the 80 and if all shows sell then to sell? Thanks
no i meant for the 5 to cross its signal line in the direction of the 20 and 50.
  • #69
  • Jan 23, 2007 3:24pm Jan 23, 2007 3:24pm
Could you take a look at the chart and tell me if I have this correct, I noticed that the 20 and 50 have crossed along with their trend lines and they are above 80 would this be a good selling opportunity? Thanks
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  • #70
  • Jan 23, 2007 3:32pm Jan 23, 2007 3:32pm
Quoting forexdanofsa
Could you take a look at the chart and tell me if I have this correct, I noticed that the 20 and 50 have crossed along with their trend lines and they are above 80 would this be a good selling opportunity? Thanks
it could be but not necessarily. i dont look for those setups and the 20 and 50 cross each other alot but price sometimes never goes anywhere. just use em for trend direction because theyr cross can be tricky and not very successful. also when they are above 80 means trend is up strongly so be careful trading against.
  • #71
  • Jan 23, 2007 3:36pm Jan 23, 2007 3:36pm
Thank You,

Could you tell me what other sign would have made this a good trade, other than it is at 80?
  • #72
  • Edited 4:47pm Jan 23, 2007 3:43pm | Edited 4:47pm
ok i see what ur saying. ur talking about the 20 and 50 crossing their signal lines down and trending down from above the 80 line and the 5 crossing down.that would be a good signal but i wouldnt take it because its pretty late in the day and markets start slowing down by then. it might end up being a good trade but like i always say look for the best setups. no need to risk profits you could have made earllier in the day from really good trades.
  • #73
  • Jan 23, 2007 4:48pm Jan 23, 2007 4:48pm
It is great to see you posting. I will be checking out this system later this week, probably on Friday. I have never used stochastics, should be fun .
The market is my nation. Traders, my family. Hello, brothers and sisters!
  • #74
  • Jan 23, 2007 5:25pm Jan 23, 2007 5:25pm
Quoting boxingislife
very nice explanation 211

i also like to look for reversal bars and even trendline breaks but i thought id get into that later on and let people understand the basics first and the main stuff u need to enter a successful and profitable trade.

did u take those on a live account or demo or u just watched them during teh day?

I did all three actually. I did some demo and live trading of the move up to 1.9780 up to 1.9850. Then I had to go to work, so I took the profit I had. After work, I did a little more demo and live trading from the move at 1.9845 down to 1.9815. So it was a really good day.

I feel very fortunate to have come across your system. I'm really enjoying it! Hope everyone else is doing well with it too!
  • #75
  • Jan 23, 2007 5:45pm Jan 23, 2007 5:45pm
Quoting boxingislife
i mainly focus on gbpusd usdchf gbpjpy and eurjpy. occasionally others but i try to stick to 2-3 pairs no more otherwise ill go insane. timeframes when i have time i watch the 5 and 15 mostly and check longer time frames for other opportunities. now im finishing university so im sticking to 1h+ unless i have some time during the day.

ive been trading this for several month. but the main system was made for futures and is really profitable and it works just as good with forex using only the best setups and sticking to the rules.

no reason for trading those 2. i actually glance around and saw the opportunity and took it. big profit on the gbpjpy around 150+.

*the daily u might wanna watch usdchf trend is up and price is retracing. the 5 crossed yesterday and i took a trade thats down quiet a decent amount. but with daily u gotta understand the risk is big but the reward is huge and its a bit trickier in certain ways. if u notice on usdchf trend is up strongly with 20 above the 80 line so as soon as the 5 gets into oversold or if it crosses then it should be a nice ride up as long as the 20 50 and 100 are still trending up nicely.

*4h chart is also good and can have more opportunities than the daily
for the 4h watch usdjpy. it could give a nice buy when the 5 crosses up or if price consolidates. im planning on buying but if u need more confirmation wait for the 5 to cross up then enter.

*also the gbpchf is trending up nicely and the 5 is in oversold so im planning on entering this trade.

*just be sure to check em out for urself and if ur trading live trade really small amounts or wait for extra confirmation. if ur demo then feel free.

* if ur trading daily make sure ur stops are fairly big like i said daily = big stops but also big profit. so place ur stop according to the pairs daily range or under previous lows or above previous highs. where its safe but not gonna cost u ur account

hope that helps

Wow Boxing!
Thanks for all your advise. Cheers

fj
  • #76
  • Jan 23, 2007 6:01pm Jan 23, 2007 6:01pm
Thanks alot, Really appreciate your help and your syatem.
Dave
  • #77
  • Jan 23, 2007 6:02pm Jan 23, 2007 6:02pm
Quoting Tw0eleven
Here are three nice trades on the GBP/USD pair today. Could have gotten you over 100pips.

When I use this method on the 15minute charts, I like to wait for the close of the candle. And most importantly, I like the candle to be a reversal type. Example: hammer, doji, spinning top, etc...

Trade 1: Buy, 20 and 50 were trending up, 5 retraced halfway and a Doji formed. Here's a situation when the 20 was below the 50, but since they were trending up it was still a good trade.

Trade 2: Sell, 20 and 50 were below their signal lines and trending down, 5 retraced halfway, consolidation formed, 2 Hammers formed. Perfect trade setup.

Trade 3: Sell, 20 and 50 were still below their signal lines and trending down at a nice angle, 5 retraced a little, consolidation formed, Hammer/Doji formed. ( you could have waited until the second time the 5 retraced and a bigger hammer formed around 1800GMT) ***This trade is near the US session ending, activity is slowing down and you'd probably only want to get 10 or 15pips***

Great post twoeleven!!

For your trades, did you wait for the 5 to actually cross and for the
candle to finish forming, before entering each trade?

Or, did you just take the trade after the hammer/doji was formed?

Thanks in advance!

fj
  • #78
  • Jan 23, 2007 6:08pm Jan 23, 2007 6:08pm
Quoting boxingislife
211 u can also catch the move down on the 5 min. the first one the 20 and 50 are above the 80 line so we wait for teh 5 to cross down and enter and the next one is a continuation

Hi Boxing

For your trades, to you wait for the 5 to cross and candle/bar to
finish forming Before you enter??

Also, I noticed you added one more Sto (100) in yellow, is that
important for your trading decision, so just further reinforcement!

I actually love Sto but didn't think of using multiple Sto for
trade decisions. This reminds me of a mutiple MA system.

So, thanks for your system!!
  • #79
  • Jan 23, 2007 6:52pm Jan 23, 2007 6:52pm
Quoting fjfx
Great post twoeleven!!

For your trades, did you wait for the 5 to actually cross and for the
candle to finish forming, before entering each trade?

Or, did you just take the trade after the hammer/doji was formed?

Thanks in advance!

fj
I don't always wait for the 5 to actually cross. Take Trade 1 from my previous post(the buy trade). The 5 never crossed the 20 or 50...but the 5 did pull back the the neutral area before going up. So I used that, along with the doji, and the fact that the 20 and 50 were trending up after having crossed their signal lines. Plus price was consolidating after having aready making a move up a little earlier in the evening. So I had 6 reasons all together of why I should go Long.

The same with Trade number 2, the 5 never came back up to cross the 20 or 50, but it did come back to the neutral area.

Now Trade number 3 did have a 5 cross...but that's because the 20 and 50 lines were coming down to the neutral area.

Hope that helps.
  • #80
  • Jan 23, 2007 6:59pm Jan 23, 2007 6:59pm
Here's another 10 easy pips of the GBP/USD 5min. Hope someone got them!
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