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bringin sexy back - stochastics

  • #101
  • Jan 25, 2007 11:28am Jan 25, 2007 11:28am
Boxingislife...

I am thoroughly enjoying this thread of yours...thanks!

This pair looks like a good setup, based on what I understand. Your comments would be appreciated. Thanks again.
"Loss and failure are inevitable but misery is optional"
  • #102
  • Jan 25, 2007 1:07pm Jan 25, 2007 1:07pm
Quoting ssotiro
Hi and thanks for sharing this.

During the last few days of watching your chart I have notice that when 5 crossed 20 and 50, it is a strong indication of price moving, even before the 20 and 50 have crossed their signal lines.

Have you found this to be true, or am I just seeing what I want to see?
i wouldnt count on it
  • #103
  • Jan 25, 2007 1:10pm Jan 25, 2007 1:10pm
Quoting carmel
Boxingislife...

I am thoroughly enjoying this thread of yours...thanks!

This pair looks like a good setup, based on what I understand. Your comments would be appreciated. Thanks again.
yes the 20 and 50 are trending down nicely and the 100 and price has consolidated. but it might have a bit more upside so if i wanna be safe wait for a break of the consolidation or for the 5 to cross down and the bar to close. if ur a bit more aggressive enter now.

glad ur enjoying it
good luck
  • #104
  • Jan 25, 2007 1:14pm Jan 25, 2007 1:14pm
Quoting boxingislife
i wouldnt count on it
I will stick to the original rules. Less heartbeat.

Thanks.
  • #105
  • Jan 25, 2007 1:22pm Jan 25, 2007 1:22pm
Quoting ssotiro
I will stick to the original rules. Less heartbeat.

Thanks.
trust me, thats the way u wanna do it . less stress the better
  • #106
  • Jan 25, 2007 3:33pm Jan 25, 2007 3:33pm
gbpjpy
the 4h consolidated and i entered the trade because its a nice setup.
now this is the 15 min chart showing a very nice setup.
20 and 50 trending down nicely. the 5 almost into overbought and price consolidated and we have a reversal bar. and its in the direction of the 4h. so should work out nicely.
Attached Image
  • #107
  • Jan 25, 2007 3:59pm Jan 25, 2007 3:59pm
Quoting boxingislife
gbpjpy
the 4h consolidated and i entered the trade because its a nice setup.
now this is the 15 min chart showing a very nice setup.
20 and 50 trending down nicely. the 5 almost into overbought and price consolidated and we have a reversal bar. and its in the direction of the 4h. so should work out nicely.
You have a nice looking set up there, but personally I will wait for the 5 to turn south if I decide to take the trade. I usually use the 5 turning in the direction of the trade as my trigger, I get less drawdown that way. I just may not take the trade myself because it is getting near my usual nap time (asian session).
  • #108
  • Jan 25, 2007 4:21pm Jan 25, 2007 4:21pm
Quoting moonchild
You have a nice looking set up there, but personally I will wait for the 5 to turn south if I decide to take the trade. I usually use the 5 turning in the direction of the trade as my trigger, I get less drawdown that way. I just may not take the trade myself because it is getting near my usual nap time (asian session).
yea i usually wait too but when i see consolidation and a nice pull back in the 5 then i enter even though it can go against u before it continues with the trend.
im with u on the nap time but since the main trade i took off of the 4h then i leave it and will see what happened in the morning.
  • #109
  • Jan 25, 2007 5:23pm Jan 25, 2007 5:23pm
do you stay in it even though the 15min 5 stoch is almost to the 20 level and the price seems to be consolidated or moving up?
  • #110
  • Jan 25, 2007 5:41pm Jan 25, 2007 5:41pm
well i took the trade off of the 4h chart so i expected it to go against me a bit but as soon as price consolidates and doesnt break any higher then ill add to it as long as 20 and 50 are still trending down nicely otherwise ill get out with the loss. the 5 is in overbought and i expect price to consolidate and continue down if this short term down trend holds. if it keeps going up then teh uptrend comes back in place and its back to buying pull backs on this pair.

just a note for everyone, sometimes im agressive in my entries but for everyone i recommend u wait for the 5 to cross and the bar to close to enter a trade. i dont suggest u enter on the first signs of reversal because it can cost u but i tend to do that sometimes and its just the way i like to do things every now and then
  • #111
  • Jan 25, 2007 6:56pm Jan 25, 2007 6:56pm
What I said is quite correct: I do not enter a trade until the 5 has crossed and headed in the direction of the trade.

What I should have added, was that I trade GBP/JPY frequently and have again and again seen this pair bounce up to 120 pips. That makes it more important to wait with this pair than most others. Generally, the more volatile the pair the more important it is to wait for the 5. I do not like to have to put stops larger than 80 to 100 pips, and I rarely like stops that large except in position trades.

One of the risks here is that there was news coming out which could affect this pair. Generally the news which came out an hour and a half ago was yen negative, which would have the effect of raising the price of the pair or at least supporting it. In addition there is AM US news (durable goods and new homes) which can affect cable and if it does, cable could drag this pair along with it. Moves from news tend to be short duration and rarely make lasting changes in the direction of a pair, but on the short term can have a large effect.

These are the reasons why I have held off on the entry and will continue waiting until and unless a clear change in the slope of the 5 occurs. This will limit the drawdown to that which would be caused by news alone, rather than be additive of the effect of the bounce plus potentially the effect of news.
  • #112
  • Jan 25, 2007 8:45pm Jan 25, 2007 8:45pm
The 3 Stochs have crossed below their signal and seperation looks good. 5 has crossed it's signal and the candle has close. I'm Short, in the negative but still in.

BTW, how do you all get your attached images sized properly and looking so sharp?
Attached Image
  • #113
  • Jan 26, 2007 12:12am Jan 26, 2007 12:12am
... drop it like it's hot ...

OK, it's 1am I better go to bed b4 I posted something and later regret it.
Attached Image
  • #114
  • Jan 26, 2007 12:55am Jan 26, 2007 12:55am
Permit me to make a suggestion. It is getting very confusing on this thread to look at charts from different people all using different colours for the different stochastics.

It would be easiest if our thread started assigned colours to the various stochastics to be used in the charts posted on this thread. That uniformity would make it easier and faster to understand and evaluate the charts.

Thank you
  • #115
  • Jan 26, 2007 4:43am Jan 26, 2007 4:43am
moonchild

thanks for the info
and u can see my colors on my charts feel free to use em if not make a suggestion and ill follow through if its visually nice and relaxing to look at

epiphany

for the 15 min gbpusd the time would have stopped me from trading it was late and almost asian session. nonetheless there could be movements at all times but i dont wanna stress myself out. now if u have to trade late look at 1h and 4h and higher. i entered 3 trades last night all ended up in profit according to the 4h and still letting them run with stops at breakeven and +10 pips. i suggest trading 15 min charts during european and US session especially for the majors.
if anyone can find something with daily ranges for each pair and most active time of day and stuff like that it could help us all
  • #116
  • Jan 26, 2007 4:46am Jan 26, 2007 4:46am
Could this be a possible setup on the GBP/JPY 4h?
Attached Image
Never Ever Give Up!
  • #117
  • Jan 26, 2007 7:23am Jan 26, 2007 7:23am
Quoting Cobra
Could this be a possible setup on the GBP/JPY 4h?
yep should be a good trade. i was already in it and i was short eurjpy and gbpusd. closed eurjpy for around 60 pips closed part of gbpusd for around 60 pips and part of gbpjpy for about 100. all taken on the 4h chart. by tonight if my targets arent hit ill close the rest for whatever the market gives me.
  • #118
  • Jan 26, 2007 7:33am Jan 26, 2007 7:33am
Quoting boxingislife
yep should be a good trade. i was already in it and i was short eurjpy and gbpusd. closed eurjpy for around 60 pips closed part of gbpusd for around 60 pips and part of gbpjpy for about 100. all taken on the 4h chart. by tonight if my targets arent hit ill close the rest for whatever the market gives me.
Hi boxing, can you share your short entry??
What price and what was the reason for entering? Did you just
use 4H charts, or did you use smaller TF?

For GBPJPY 4H, I only entered short at 238.32 ?

Appreciate if you could walk me/us thru your thought process
at that moment.

Thanks

fj
  • #119
  • Jan 26, 2007 7:45am Jan 26, 2007 7:45am
Quoting fjfx
Hi boxing, can you share your short entry??
What price and what was the reason for entering? Did you just
use 4H charts, or did you use smaller TF?

For GBPJPY 4H, I only entered short at 238.32 ?

Appreciate if you could walk me/us thru your thought process
at that moment.

Thanks

fj
i entered in the upper 238's because my first entry was low and the setup was still there so i decided to add at a higher price. this is aggressive and u dont need to do that. ur entry is great and if all goes well u should get at least 60-70 pips outa this one. but what i do sometimes is aggressive and u shouldnt add to a losing position. read a few posts back where moonchild talks about entering when the 5 crosses and heads in the direction of the trade. as u gain experience and learn the system better ull be able to handle adding to a losing position but after u gain experience and u learn these kind of moves and setups. the reason i cant tell u to add to a losing position is even though the setup could still be there u need more confirmation and this type of confirmation to me at least came with watching hours and hours of charts. so eventually ull do teh same as i did and catch a bigger profit

hope that helps. trust me man ur entry is great u dont need to catch every single move in the market. and dont worry give it time its a 4h chart trade if it doesnt hit ur target by the end of the day close it for whatever profit u get. monday will be a new day and a new week with plenty of really good trades to take.
  • #120
  • Jan 26, 2007 7:49am Jan 26, 2007 7:49am
Quoting moonchild
Permit me to make a suggestion. It is getting very confusing on this thread to look at charts from different people all using different colours for the different stochastics.

It would be easiest if our thread started assigned colours to the various stochastics to be used in the charts posted on this thread. That uniformity would make it easier and faster to understand and evaluate the charts.

Thank you
I know what you mean. I thought I had the similar colours but is there a template you'd like to share?

btw, I noticed you said colours and not colors (like me : )
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