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bringin sexy back - stochastics

  • #121
  • Jan 26, 2007 7:53am Jan 26, 2007 7:53am
my setup is like this:

the 5 is lime green and the thickness is 2 for both lines

20 is royal blue thickness is 4
signal line is same dotted thickness is 1

50 is orange red same thickness and everything as 20

100 is yellow same as 20 and 50 with thickness and style.
  • #122
  • Jan 26, 2007 8:32am Jan 26, 2007 8:32am
Quoting boxingislife
moonchild
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
Thanx for the feedback Boxing, I'll definately keep that in mind when I'm feelin' trigger happy

The attached document is from a book by Kathy Lien.
Attached File(s)
File Type: pdf Best Times To Trade FX.pdf   312 KB | 2,496 downloads
  • #123
  • Jan 26, 2007 8:40am Jan 26, 2007 8:40am
Quoting boxingislife
my setup is like this:

the 5 is lime green and the thickness is 2 for both lines

20 is royal blue thickness is 4
signal line is same dotted thickness is 1

50 is orange red same thickness and everything as 20

100 is yellow same as 20 and 50 with thickness and style.
Laoma uploaded his sexy back 1h template, I haven't used it, does it use the same settings listed above?? Sorry can't try it out myself @ my j.o.b.
  • #124
  • Jan 26, 2007 4:22pm Jan 26, 2007 4:22pm
Hope everyone did well this week. There were some good setups out there!
  • #125
  • Jan 27, 2007 1:53am Jan 27, 2007 1:53am
Quoting kptMisiu
Hey Moonchild and the other,

there is an indicator which gives you the ability to plot indicators on any timeframe: http://www.forex-tsd.com/indicators-...ndicators.html
Just download #MTF_Set_2.zip on this site.

See the pic below. I hope this helps
KptMisiu
What am I doing wrong? When I use the MTF Stoch it produces a 20 and 80 level for each pair of lines (top). How do I get it to look like the "regular" Stoch (bottom)
Attached Image
  • #126
  • Jan 27, 2007 5:49am Jan 27, 2007 5:49am
< What am I doing wrong? When I use the MTF Stoch it produces a 20 and 80 level for each pair of lines (top). How do I get it to look like the "regular" Stoch (bottom) >


Looks like you need to adjust the Minimum and Maximum value of the indicator(s) . Open the properties window of the indicator and select the Common tab , check and adjust the Fixed minimum and Fixed maximum amounts .

t_david
  • #127
  • Jan 27, 2007 9:22am Jan 27, 2007 9:22am
this strategy looks like a good'un . i have 2 years experience in trading fx and havent really made substantial progress . and the only thing i have learned is to become petrified of trends . yes , petrified ! having been whipsawed so many times when entering a trend , basically not knowing where the pullbacks are likely to be and therefore going in and hoping i wouldnt get stopped out . even staying up all night to feel the pulse of the asian session so that i can enter the trend but no one can trade 24 hours a day . then inevitably breaking the rules and giving back what little you gained . the usage here of 3 different stochs seems to have real potency . i am going to give this a go.
  • #128
  • Jan 27, 2007 4:12pm Jan 27, 2007 4:12pm
Quoting mcdonnellc
this strategy looks like a good'un . i have 2 years experience in trading fx and havent really made substantial progress . and the only thing i have learned is to become petrified of trends . yes , petrified ! having been whipsawed so many times when entering a trend , basically not knowing where the pullbacks are likely to be and therefore going in and hoping i wouldnt get stopped out . even staying up all night to feel the pulse of the asian session so that i can enter the trend but no one can trade 24 hours a day . then inevitably breaking the rules and giving back what little you gained . the usage here of 3 different stochs seems to have real potency . i am going to give this a go.
same here at first when using ema 5/13 cross, i'd nether now when it was a good trend or only a whipsaw but look what i did from the 24/25 this week using Boxingislife strategy (too bad it was only a demo ) http://melpheos1er.free.fr/forex/killertrade.jpg I dont know if you can see the entry point but that rounded 5400$ in two days and this was with 3 lots on a 10k account (i would have stop on 2 lots on a live account) not bad for a two days trade... Also you can see i have added ADX which provide early entry point. My exit strategy is most of the time the 20 hitting 20 or 80% and cross of EMA5/8 against my trade Thanks a lot boxingislife for this strategy, i think after testing it some time on test account to properly use it, i will try it on live. I still have to find a better exit strategy (it was ok on that trade but backtesting shows a lot of difference yet it seems to be a good exit strategy on many trades ) I could also use the stoch 5 crossing, seems to be nice exit point as well...
  • #129
  • Jan 27, 2007 7:59pm Jan 27, 2007 7:59pm
I trade primarily stochastics and another system of my own which uses a modified MACD and BBs. In both I use the 5,3,3 cross as my actual trigger for entries and exits. My signal for entries and exits is different, this is just the trigger which fine tunes the time of entries and exits.

By the way, Epipany, where or what is the Great White North? As for me, I certainly live too far north, and all I have been seeing out of the window for the past few months is white.
  • #130
  • Jan 27, 2007 8:16pm Jan 27, 2007 8:16pm
Quoting boxingislife
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.

Let me start by saying that I rarely leave trades open over the weekend because of the risk of gaps. However, with the G7 meeting occurring and with the fact that they have been basically threatening to get the yen to appreciate, I left my poundyen short open.

Just checked a real time data feed and it is showing the pair at 236.72 which is one huge gap from the close at 238.16. This is making my account very, very happy.
  • #131
  • Jan 27, 2007 10:31pm Jan 27, 2007 10:31pm
mcdonnellc:

glad u like the method. if u have any questions just feel free to ask


melpheos:

good to see u kickin ass with my method. keep it up.

moonchild:

im glad my system has helped u out some. good luck

ill be around guys. i was wrong about college it doesnt start till next month sometime so ill be on here pretty often for at least a week or 2.
has anyone seen the news about beirut this past week? its a hell hole and since im here right now(its my hometown) i dont deal well with violence and riots. especially when my personal safety is at stake.
  • #132
  • Edited 9:15am Jan 28, 2007 8:58am | Edited 9:15am
Boxing, haven't heard the news about Beirut yet...but hope you stay safe!

Had a question for you too Boxing...do you prefer using the 1hr or 4hr charts for longer trades? Like when you can't be at your computer a lot to watch for set ups...have you noticed if the 1hr or 4hr produces better results?
  • #133
  • Jan 28, 2007 11:44am Jan 28, 2007 11:44am
hey 211

well it really depends on how long ur gonna be away for example:

if ur gonna be away for a few hours and u got a setup on the 1h and its really good then take it and place a target as big as the stop. so that ru still good on ur risk reward and u have a higher chance of getting ur target hit. dont take an early setup or a late one make sure its the right time coz if its not and ur gonna be away then thats bad news. same with the 4h really. if ur gonna be away for a whole day and got a nice setup on the 4h take it. as long as its a perfect signal and ur not early or late then take the trade otherwise if u check ur computer and ur leaving for a few hours and theres no setups then turn off metatrader and go do what u have to do. this is sort of like a motto for me now is that only take the best trades theres no reason to take half assed trades or get in late or early on a good setup.

the 4h produces more pips usually coz its longer term than 1h. and soon ill be focusing on 1h and mostly 4h coz of school and being gone for a long time. if ur gone for long periods of time the 4h should work great. dont watch the 1h it might be too fast if ur gone for extended hours at a time.i took 3 or 4 trades last week off the 4h with awesome results.

hope that helps
  • #134
  • Jan 28, 2007 12:37pm Jan 28, 2007 12:37pm
Thanks for the info Boxing. My work schedule is about to change so I'll be gone for 8 to 10hrs at a time. I'll have to try out the 1hr and 4hr methods to see which one fits in my schedule. Hopefully I'll get some good setups to post for everyone on here this coming week!
  • #135
  • Jan 28, 2007 12:52pm Jan 28, 2007 12:52pm
Quoting Tw0eleven
Thanks for the info Boxing. My work schedule is about to change so I'll be gone for 8 to 10hrs at a time. I'll have to try out the 1hr and 4hr methods to see which one fits in my schedule. Hopefully I'll get some good setups to post for everyone on here this coming week!
ur welcome

if ur gonna be gone for that long at a time deff look into 4h charts and daily. dailys are tricky and need patience and a wait for perfect time and big stops but they deff got big pips in em. or maybe u can place orders. say the 4h trend is down and price has consolidated and the 5 is at the 50 or 60 line u can sell and then place a sell order like 30 or 40 pips above in case it bounces up a bit and a stop for both a little higher. this is not somethin i recommend at all and could be pretty dangerous but if the trend is strong and price doesnt go any higher then ur first order will hit its target. look into that. but for something like that which again i say "i dont recommend at all because its not as effective as entering when the 5 cross or on a break of consolidation or basically more proof" nothing smaller than the 4h chart.
have u thought about getting a pocket pc? if ur budget allows in teh usa it was like 40$ for gprs and edge and i think now high speed internet on certain pocket pc phones with windows mobile u can install mt4 and trade on the go. if u have somethin like that available and ur budget allows it could be a nice solution

hope this helps some more
  • #136
  • Jan 28, 2007 2:41pm Jan 28, 2007 2:41pm
Boxing, for whatever my opinion is worth, I just wanted to say that I think you've got a very sound system here – although I guess you already know that! Yours is one of the methods that I'm looking to trial over the next few months. Haven't finalized my timeframe(s) yet.

IMHO entering on the resumption of a strong trend following a decent pullback (and vice versa for a short position) is arguably the safest setup. It means (1) entering a trend at a decent price (improves R/R), and (2) with the added insurance that if the market happens to switch from "trending" to "ranging" mode, then you're still likely to catch something near the bottom of the range (for a long trade).

Every successful TA-based entry method I've ever seen ultimately breaks down to one of two methods: trend-based pullbacks, or breakouts. The rest is semantics regarding timing.

I'm generally not a fan of indicators, but IMHO stochastics and Bollinger bands are the among the very best for measuring overbought/oversold.

A few more things I've noticed, although I'm probably re-stating the obvious…..

As the 20 and 50 rise from oversold, that's generally the first impulse wave (Elliott wave #1) in the new trend. The pullback is the first retracement (akin to E wave #2) and the resumption (where 20 and 50 are rising and 5 crosses above its signal) is the second impulse wave (E wave #3, proceeding from the second shoulder in an inverted H&S), which is frequently the largest move in the trend. Your multi leveled stochastics are confirming this price action.

If the trend is prolonged, then it's still possible to trade pullbacks while 20 and 50 remain in overbought territory, as these are subsequent waves in the uptrend. However, I suspect that the probability of success diminishes a little with each successive pullback. Also, I suspect that risk increases if the entry bar is tall (if you wait for it to complete before entering) and/or takes price into an area of prior resistance.

As well as using some price action patterns to help with entry, you could probably also use horizontals (prior support/resistance, Fibos, pivot levels, etc) for confirmation, and (perhaps) also to scale out for profit. These are some of the variations I hope to test. I also like to see price in relation to Bollinger bands, using the channel width to confirm the R/R potential of a candidate trade.

If trading the H1 or longer, one could also drill down to the shorter timeframes for help with timing of entry.

Anyway, for whatever my opinion is worth, this is a great method. Well done!

And I hope and pray for your continued safety in Beirut.

Best wishes
David
  • #137
  • Jan 28, 2007 3:18pm Jan 28, 2007 3:18pm
hanover

thanks first of all

im not familiar with details on elliott wave but i know about the first wave heh

as for teh pull backs when the 20 and 50 are oversold or overbought thats the slingshot system by buffy. its a high percentage trend trade and i think i posted an example or two about them i also look for those but my main setup and perfect trade is the examples i have posted in here. ur right it can carry some more risk liek trending slowing down, divergence reversal bars on higher time frames things like that.

everything u said is great info thank you
using fibos is a great way to enter as well as reverse divergence and reversal bars. the system is great the way it is but later on maybe ill get into some basics that might give u some more confirmations. im not holding back and trust me the 20 and 50 trending down and the 5 crossing down after price consolidated should give u an amazing trade so dont go nuts on me everyone lol.

and thank you for ur prayers. i dont do politics and i stay away but the people that do well some of em end up getting hurt. now when things get personal and my safety is at stake then i do somethin about it.

if anybody got snow near em go snowboarding!!!! i went today and i kicked ass. i even did a halfpipe run without falling at all. but i did get some bruises and a swollen wrist and some messed up ankles.
  • #138
  • Jan 28, 2007 11:49pm Jan 28, 2007 11:49pm
Quoting transport
< What am I doing wrong? When I use the MTF Stoch it produces a 20 and 80 level for each pair of lines (top). How do I get it to look like the "regular" Stoch (bottom) >


Looks like you need to adjust the Minimum and Maximum value of the indicator(s) . Open the properties window of the indicator and select the Common tab , check and adjust the Fixed minimum and Fixed maximum amounts .

t_david
so that's what Fixed minimum and Fixed maximum is used for

Now my Stochs are looking sexy
  • #139
  • Jan 29, 2007 3:59am Jan 29, 2007 3:59am
Quoting ePIPhany
Thanx for the feedback Boxing, I'll definately keep that in mind when I'm feelin' trigger happy

The attached document is from a book by Kathy Lien.
ePIPhany, thank you for the share, much appreciated
  • #140
  • Jan 29, 2007 4:04am Jan 29, 2007 4:04am
boxingislife, thanks for sharing your system and taking the time to explain. I just read through the thread...might go through it again though, in case I missed something .

Thanks again,
Sage.
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