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MTF Stochastics

  • #1,381
  • Oct 20, 2008 8:30pm Oct 20, 2008 8:30pm
Wow great to see this thread going again. Will be watching with interest
Time hides Nothing
  • #1,382
  • Oct 20, 2008 8:45pm Oct 20, 2008 8:45pm
Quoting CindyXXXX
Wow great to see this thread going again. Will be watching with interest
Great. Is this the system that you trade or are you using something else?
  • #1,383
  • Oct 20, 2008 9:01pm Oct 20, 2008 9:01pm
Quoting jdcompute
Great. Is this the system that you trade or are you using something else?
Well I spent a good few months trying this out a while ago and I really liked it and made some pips but these days I have ditched the indicators I just didn't like the way the stochs seemed to sometimes "lie" or repaint I guess.

Anyway I might have another go at it as obviously theres some people here having some success.

I liked someones comment earlier about how it is a good way to guage momentum. In my current system the entries are great but I would like a better way of guaging when to take profits and maybe this could be a good way to do that.

Anyway keep up the good work.
Time hides Nothing
  • #1,384
  • Oct 21, 2008 6:58am Oct 21, 2008 6:58am
Quoting CindyXXXX
Well I spent a good few months trying this out a while ago and I really liked it and made some pips but these days I have ditched the indicators I just didn't like the way the stochs seemed to sometimes \"lie\" or repaint I guess.

Anyway I might have another go at it as obviously theres some people here having some success.

I liked someones comment earlier about how it is a good way to guage momentum. In my current system the entries are great but I would like a better way of guaging when to take profits and maybe this could be a good way to do that.

Anyway keep up the good work.
Call me old school, but I prefer to have multiple time frames on my screen rather than using indicators....I can see the stoch movement much better. I prefer to use the indicators as a quick summary of market status.
  • #1,385
  • Oct 21, 2008 7:11am Oct 21, 2008 7:11am
I agree. The stochs show me the overall picture at a glance, much easier to read. The MTF approach is the only system I've tried that works for me consistently. Spud, have you ever used the Andrews Pitchfork or Schiff forks in your trading?
  • #1,386
  • Oct 21, 2008 10:01am Oct 21, 2008 10:01am
Hello all,

Have found a very good use for stochs. I just discovered this MTF thread, so I thought i'd share it here.

Pretty simple. I use the daily as my main trend gauge. Price must be trading below 50 SMA and well, MA should be trending downward approx 20 degrees (If you have to think hard to yourself if it is trending, then its not. )

When 4 hour and 1hour stochs is overbought, almost certainly, it's a great place to start hunting for shorts.

--> Btw, Does anyone have a MTF stochs indicator w overbought/oversold alert?
Eg: as above when 4 hour and 1 hour OB/OS there's a sound/window alert.
One Mind, Any Market
  • #1,387
  • Oct 21, 2008 10:19am Oct 21, 2008 10:19am
Spudfyre how long did it take you to make seven figures starting out with just $2000/-
  • #1,388
  • Oct 21, 2008 7:22pm Oct 21, 2008 7:22pm
I trade a lot using S/R and PA and use stochs to help pick/time my entries, and also use stochs to help time entries on pull backs (rubber band trades). I have to say this is by far the best way to trade and I have tried them all, I especially love the rubberband trades as they are usually good for some pretty safe pips, anyone catch that 600 pipper gbp trade from last night?

I trade using the 25,2,3 and 5,3,3 stochs on the 1hr and 15min charts.
  • #1,389
  • Oct 21, 2008 8:09pm Oct 21, 2008 8:09pm
I've tried a variety of other tools and continue to dable...but I find that one can dable across the entire indicator universe and start to get lost in endless mazes of ideas.

I did use Andrews Pitchfork and varieties of other pitchforks in trading, but found consistent issues with them and after a while left them out of my tool kit.

Quoting jdcompute
I agree. The stochs show me the overall picture at a glance, much easier to read. The MTF approach is the only system I've tried that works for me consistently. Spud, have you ever used the Andrews Pitchfork or Schiff forks in your trading?
  • #1,390
  • Oct 21, 2008 8:16pm Oct 21, 2008 8:16pm
Don't worry about how long it will take you.....work towards consistency..always consistency. You have to learn how to make 10 pips a day, 20 pips a day...than add value to your pips when you know you can consistently earn 10 pips every day. If you can train yourself to do that than you control exactly how long it will take you.

Quoting fugly
Spudfyre how long did it take you to make seven figures starting out with just $2000/-
  • #1,391
  • Oct 21, 2008 8:20pm Oct 21, 2008 8:20pm
I'm obviously completely bias with Stochastics...but you are right. You can use MTF Stochastics as a regulator in the background to help you with any system you use. I'd say if MTF Stochs are contradicting your system, it probably is a much higher risk entry than if they both agree

Quoting endroute
I trade a lot using S/R and PA and use stochs to help pick/time my entries, and also use stochs to help time entries on pull backs (rubber band trades). I have to say this is by far the best way to trade and I have tried them all, I especially love the rubberband trades as they are usually good for some pretty safe pips, anyone catch that 600 pipper gbp trade from last night?

I trade using the 25,2,3 and 5,3,3 stochs on the 1hr and 15min charts.
  • #1,392
  • Oct 21, 2008 8:21pm Oct 21, 2008 8:21pm
Quoting Spudfyre
Don't worry about how long it will take you.....work towards consistency..always consistency. You have to learn how to make 10 pips a day, 20 pips a day...than add value to your pips when you know you can consistently earn 10 pips every day. If you can train yourself to do that than you control exactly how long it will take you.

Very good answer!!
  • #1,393
  • Oct 22, 2008 9:36am Oct 22, 2008 9:36am
Crazy market this morning. I picked up +15 on eurusd and gave that back plus -20 more. Now it came back down 20 pips and hovering and looking like it wants to turn back up.
  • #1,394
  • Oct 22, 2008 9:38am Oct 22, 2008 9:38am
Spud,

There is an opinion by some that the 14,3,3 settings get you into a trade too late while the 5,3,3 often whipsaws you. How did you settle on 14,3,3? I'm just curious. Have you tried any other settings? I typically use 14,3,3 across the 15m/30m/1h charts.
  • #1,395
  • Oct 22, 2008 10:26am Oct 22, 2008 10:26am
Spuds, et al

Can you guys look at these stochs on this trade that just bit me and took out my SL?

the lime green is the 5.3.3 for the current charts TF and the purple lines are 5.3.3 MTF stoch for the next higher TF (H4 is 4.3.3) My buy took place at the red vertical line.

All stochs were down at the time, but like within maybe a minute, the M15 made this v-shaped turn around that got my stop. I'm thinking the M15 was perhaps a bit low to enter this trade anyway?

Anyway as I write this, the M15 has reached 80 and is curling down, so perhpaps a better opportunity?

thanks!
Spuds and MTF stochs are gread!

FW
Attached Image (click to enlarge)
Click to Enlarge Name: stochs.gif Size: 28 KB
Isolate yourself from the herd
  • #1,396
  • Edited 10:57pm Oct 22, 2008 10:43am | Edited 10:57pm
I got bit by that one as well...still trying to figure out what happened there...

edit: I take that back. I got bit by a usdjpy spike, not CAD.
  • #1,397
  • Oct 22, 2008 10:50am Oct 22, 2008 10:50am
We're ranging right now...ugh!!!! ..at least eurusd and usdjpy are.
  • #1,398
  • Oct 22, 2008 10:55am Oct 22, 2008 10:55am
Look at that there chart
Attached Image (click to enlarge)
Click to Enlarge Name: chart.gif Size: 17 KB
  • #1,399
  • Oct 22, 2008 12:13pm Oct 22, 2008 12:13pm
Quoting jdcompute
Spud,

There is an opinion by some that the 14,3,3 settings get you into a trade too late while the 5,3,3 often whipsaws you. How did you settle on 14,3,3? I'm just curious. Have you tried any other settings? I typically use 14,3,3 across the 15m/30m/1h charts.
try to play with this one and change settings (like 14stoch,3ema).
Can move fast as 5,3,3 but without so many whipsaws.
Attached File(s)
File Type: mq4 DoubleSmothStoch Bressert.mq4   3 KB | 940 downloads
  • #1,400
  • Oct 22, 2008 6:38pm Oct 22, 2008 6:38pm
Quoting forexweasel
Spuds, et al

Can you guys look at these stochs on this trade that just bit me and took out my SL?

the lime green is the 5.3.3 for the current charts TF and the purple lines are 5.3.3 MTF stoch for the next higher TF (H4 is 4.3.3) My buy took place at the red vertical line.

All stochs were down at the time, but like within maybe a minute, the M15 made this v-shaped turn around that got my stop. I'm thinking the M15 was perhaps a bit low to enter this trade anyway?

Anyway as I write this, the M15 has reached 80 and is curling down, so perhpaps a better opportunity?

thanks!
Spuds and MTF stochs are gread!

FW

This is what happens when you use the shorter period stochs, had you used the the 14.3.3 or some slower stoch you would never been in that trade, the only thing anyone should have been doing today with CAD is buying. My advice to all is don't fight the trend unless you can read the stochs as well as you can read the paper, and even then its not usually work the risk.

Just by looking at the chart you should have seen that there was a definete uptrend. Also use the the mtf stochs indicator so you can have all your different timeframe stochs in 1 window, it is so much easier to read.
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