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bringin sexy back - stochastics

  • #281
  • Feb 13, 2007 12:54pm Feb 13, 2007 12:54pm
Sure.
Attached File(s)
File Type: mq4 Daily_High_Low.mq4   3 KB | 811 downloads
  • #282
  • Feb 13, 2007 1:23pm Feb 13, 2007 1:23pm
imbiber thats one messy chart

I mean do you relly use that many indicators?

and congrats on positive trades.
  • #283
  • Feb 13, 2007 1:25pm Feb 13, 2007 1:25pm
^ imbiber, what's that indicator at the bottom of your chart that says "Daily average range"? Is that an EA or simple indicator? Can you share it with us please?
  • #284
  • Feb 13, 2007 1:27pm Feb 13, 2007 1:27pm
Quoting Ahil
imbiber thats one messy chart

I mean do you relly use that many indicators?

and congrats on positive trades.
Actually yeah I do, lol. I don't like my charts looking naked haha.
  • #285
  • Feb 13, 2007 1:27pm Feb 13, 2007 1:27pm
Quoting jlowder
I have also added a tunnel to the chart, using the 62 EMA w/ +10 and -10 levels on it. This can be used in one of two ways. When a currency is trending hard, a slight retracement might actually cause the stochastics to drop below (or above) the over/under sold line indicating a new position. In this case, I use the tunnel as confirmation of entry. If the price does not cross the tunnel I do not take the trade. Again, I typically only use this tunnel in cases of trending markets. The second use would be to always use the tunnel as added confirmation of a trade - many times the price will range within the tunnel before continuing on in the direction of the stoch signal. Up to you.

Jason
you say, you only use tunnel in case of trending markets, how do you decide is it trending? by slope of tunnel, by observing history price or some other indicator?
  • #286
  • Feb 13, 2007 1:32pm Feb 13, 2007 1:32pm
Quoting sam1
^ imbiber, what's that indicator at the bottom of your chart that says "Daily average range"? Is that an EA or simple indicator? Can you share it with us please?
I used to follow the FxIgor method and picked it up on the TSD forums I think.
Attached File(s)
File Type: mq4 (T_S_R)-Daily Range Calculator V2.mq4   12 KB | 860 downloads
  • #287
  • Feb 13, 2007 1:40pm Feb 13, 2007 1:40pm
Thanks imbiber, very kind of you.

And thanks to boxingislife for sharing the sexy stoch. I were able to maximize my earning potential combining it with my hedge technique.
  • #288
  • Feb 13, 2007 1:42pm Feb 13, 2007 1:42pm
Quoting imbiber
Sure.
Thanks a lot, and thanks for the other indicator
  • #289
  • Feb 13, 2007 2:15pm Feb 13, 2007 2:15pm
Quoting Ahil
you say, you only use tunnel in case of trending markets, how do you decide is it trending? by slope of tunnel, by observing history price or some other indicator?
Typically that means when (to me) price has been moving up for 2-3 days and the slope plus daily stair pivot are moving upwards as well. It's just an eyeball thing that can't really be quantified. Or least I have haven't tried. Sorry I can't give a more exact response.

Jason
  • #290
  • Feb 14, 2007 5:30am Feb 14, 2007 5:30am
Hello boxinislife

Thank you for sharing your method.
Can you explain what you said in the post about the phrase “another thing is timeframes. while there can be a great trade on the 1h, a quick signal on the 15 min against the 1h that is enough to trigger a trade would lose some hard earned pips. also u cant just put it on 1h coz then ull be missing alot of trades on the 15 min and even the 5 min”
The meaning is: trade with the 2 time frames (15m e 1h) with Stochastic 50 - 20 – 5 pointing in the same direction? Or trade with only one time frame and follow the signals produced even if they are against the other frame ?

Thanks
  • #291
  • Feb 14, 2007 9:08am Feb 14, 2007 9:08am
I think that what boxing meant was that it is good to have confirmation of your signal on 15 or 5 min chart on some other timeframe

for example

signal on 15 chart, look on 1H chart and if Stochastic there is going in the direction of a signal on 15 min chart take that signal


dont think it is necessary but Ill leave that to boxing
  • #292
  • Feb 14, 2007 10:06am Feb 14, 2007 10:06am
But only one logic problem here:

The signal on the 5 min and 15 min chart will ALWAYS come first as the 1H bar is build AFTER 4 of 15 min or 12 of 5 min bars are created.

So, if we wait for the 1H bar it may be too late for the short term trade of the 5/15M chart. But, the signal on 5 or 15 min may get us in the hourly trades earlier.

So Boxing, your input of resolving this issue is needed here, how do you deal with it in your call if to take the trade on a short TF or wait for the 1H bar to close first?

Tzachi
  • #293
  • Feb 14, 2007 10:56am Feb 14, 2007 10:56am
well I wasnt thinking of bar close on 1H chart, you just check direction of 20 and 50 Stochastic on 1Hour Chart and if it is in the same direction as your planned trade than you take it
  • #294
  • Feb 14, 2007 1:27pm Feb 14, 2007 1:27pm
ok one thing i think i should advise you guys to do is forget the 5 min chart. its too fast and its not a good idea to trade with it. use a 15 min chart if u want a small timeframe.
the way i do things is the following:

i look at the daily or 4h for a general idea. just a quick glance. lets say trend is up.

i open my 1h chart and check the 20 and 50 lets say they are flat and its early in the euro. session but action is starting to pick up. so i take a look at my 15 min and i see a nice 20 and 50 trending up and the 5 pulling back with price making a small move up and then consolidating. i take teh trade. lets say it went up 15-20-30 pips whatever. i get out at some point then check to see if the 20 and 50 are still trending. and i check the 1h.
i like to keep things simple and prefer taking trades off higher tameframes rather than the smaller ones but il go to smaller timeframes when the higher ones are not showing any signals.

so for example if i check the 1h and its trending up with the 5 pulling back then i forget the 15 min and i look to buy when price consolidates because signals on teh 1h are much safer to trade. if its trending up but the 5 is already overbought or acting funny then i go to the 15 min and check for trades. or if the 1h is trending up and finished a first signal or during a trade i check the 15 for opportunities and add to my trade on a very tiny pull back. it can be many things. but the 1h and 15 min are close so they shouldn confuse u. and guys trade take alot of trades especially on the demo. the losers will teach u what u did wrong and how it can be avoided.

hope this clears up some issues
  • #295
  • Feb 14, 2007 1:55pm Feb 14, 2007 1:55pm
here is audusd 1h today
the first square from left to right, u could have taken timewise as in ud prob be awake maybe and it was during an active time and the 20 was trending up nicely same with the 50 even though it was under the 20 line or oversold. 1st good trade. after that u could have switched to 15 min and added to it at 2 different opportunities till the market calmed. next box and the last one are great opportunities and could have brought a decent amount of pips. with the 20 50 and 100 trending up very very nicely and the 20 and 50 being overbought eventually and above 80 why bother with a 15 min chart? take the signals off the 1h and as u can see they were great.
dont worry about the colors im just tryin to be creative

also check out the 1h gbpjpy for a nice buy trade
Attached Image
  • #296
  • Feb 14, 2007 2:47pm Feb 14, 2007 2:47pm
Quoting boxingislife
here is audusd 1h today
the first square from left to right, u could have taken timewise as in ud prob be awake maybe and it was during an active time and the 20 was trending up nicely same with the 50 even though it was under the 20 line or oversold. 1st good trade. after that u could have switched to 15 min and added to it at 2 different opportunities till the market calmed. next box and the last one are great opportunities and could have brought a decent amount of pips. with the 20 50 and 100 trending up very very nicely and the 20 and 50 being overbought eventually and above 80 why bother with a 15 min chart? take the signals off the 1h and as u can see they were great.
dont worry about the colors im just tryin to be creative

also check out the 1h gbpjpy for a nice buy trade
i took 45 pips on the AUDUSD you'v just shown...

But today was bad due to the BOE annoncement that took my £Yen down a lot (-130 pips atm but i keep it as i am trading it on a daily not very good signal )

I'm still break even because i had a good €$ , swissie and €cad...

this trading technique is for me a holy grail... even with a really bad trade i'm still break even
  • #297
  • Feb 14, 2007 2:55pm Feb 14, 2007 2:55pm
This method rocks. I use the four hour charts. This was one of mine from yesterday.

Entry Aud/jpy long @ 93.84 currently at 94.57. Stop has been moved to 94.48.
  • #298
  • Feb 14, 2007 4:02pm Feb 14, 2007 4:02pm
melpheos im glad ur getting the hang of it and overall doing really good with the method.

imbiber good job on ur trade
kermit rocks. he always seemed like a character that takes speed and is always hyper lol. kermit the druggy
  • #299
  • Feb 14, 2007 4:32pm Feb 14, 2007 4:32pm
Boxingislife,
what strange is we have 3 things in common: we like boxing(I can tell from your nickname), we like Forex and we live in Orlando!
Do you still in Orlando?
Andrey
"Every battle is won before it is ever fought." - Sun-tzu, The Art of War.
  • #300
  • Feb 14, 2007 10:05pm Feb 14, 2007 10:05pm
Boxing,

You mentioned the system was originally developed for stock and indices. Do you know what the settings would be for something like the S&P or the Russell?

Thanks again for sharing this method!
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