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bringin sexy back - stochastics

  • #441
  • Feb 28, 2007 4:45pm Feb 28, 2007 4:45pm
I follow all of your posts with great admiration.

Quoting moonchild
I was bored and frustrated. The next time I looked, I saw something tradeable and traded it. I have 'banked' 27 pips on long GBP/JPY and am currently waiting out a dip. I will go long again shortly when the dip turns up again. I suspect a short-lived dip.

That dip looks as though it is trying to get finished in record speed which is also consistent with a good move, up in this case, so I definitely want to go up with it.

I try to trade only when I can make sense of what is happening and can find confirmation more than 1 way for a trade. The forex market can change very fast and go from offering high probability trades to offering s--t, and in this case the opposite occurred.
T
  • #442
  • Feb 28, 2007 4:45pm Feb 28, 2007 4:45pm
Quoting moonchild
I was bored and frustrated. The next time I looked, I saw something tradeable and traded it. I have 'banked' 27 pips on long GBP/JPY and am currently waiting out a dip. I will go long again shortly when the dip turns up again. I suspect a short-lived dip.

That dip looks as though it is trying to get finished in record speed which is also consistent with a good move, up in this case, so I definitely want to go up with it.

I try to trade only when I can make sense of what is happening and can find confirmation more than 1 way for a trade. The forex market can change very fast and go from offering high probability trades to offering s--t, and in this case the opposite occurred.
H4 and D1 are saying : nooooooooooo that's a baaaaaad trade on long term view ... But maybe good for a short time trade
  • #443
  • Feb 28, 2007 5:07pm Feb 28, 2007 5:07pm
Quoting melpheos
H4 and D1 are saying : nooooooooooo that's a baaaaaad trade on long term view ... But maybe good for a short time trade
That's what I was thinking. I'm wanting to get long on the yen pairs but the four hour chart is leaving me scratching my head. Maybe I'm missing something.
  • #444
  • Feb 28, 2007 5:33pm Feb 28, 2007 5:33pm
That trade is working well for me. So far +27 and +18. I am currently out letting it dip and will get back in at the bottom of the dip. Not bad pips for this time of day, plus also this is Wednesday and the swap was a nice bonus. Since I do not consider this a safe long term trade, I am getting out whenever it is at risk of dipping, even if it means missing out on a few pips. Safer that way.
  • #445
  • Feb 28, 2007 7:14pm Feb 28, 2007 7:14pm
Quoting moonchild
That trade is working well for me. So far +27 and +18. I am currently out letting it dip and will get back in at the bottom of the dip. Not bad pips for this time of day, plus also this is Wednesday and the swap was a nice bonus. Since I do not consider this a safe long term trade, I am getting out whenever it is at risk of dipping, even if it means missing out on a few pips. Safer that way.
a good trader never look at what he leaves on the table but what he feels in his stomach
  • #446
  • Feb 28, 2007 7:18pm Feb 28, 2007 7:18pm
A good eater never look at what on his plate only how is stomach feel

Quoting melpheos
a good trader never look at what he leaves on the table but what he feels in his stomach
T
  • #447
  • Mar 1, 2007 12:07pm Mar 1, 2007 12:07pm
word of advice for everyone. id stay out of the market especially with the yen pairs till things make more sense. if the yen pairs break lower then we might be seeing a good retracement or possibly a change in trend. a few pages back i said i have a feeling the yen pairs might change direction soon because they were lookin very weak with bigger and bigger pullbacks. if the uptrend on the yen pairs resume just keep buying the pullbacks. but for now i suggest u guys stay out till u see if the uptrend continues or if the trend has officially changed
  • #448
  • Mar 1, 2007 1:06pm Mar 1, 2007 1:06pm
Hi boxingislife

I was introduced to your thread three days ago. I spent the first night reading and understanding what you have written and spent the last two days trading the system.

I am a full-time forex trader and use the Kolachi Method. Recently I started to develop some poor trading habits and, while it is still early days, it seems that your system is just what I needed to compliment my current approach.

In the last two days I have made 8 winning live trades for a total of +196 pips and 1 loser for -18pips (my stop was too tight and would have worked too!). When I read your thread I was so impressed I traded live immediately!

I am very grateful to you for you honest approach and for your desire to share and help others.

For me I see one challenge when trading your system... I have followed your advice and use H4, H1 and M15. I know it is early days yet and I hope my experience with this system improves but right now I am seeing contradictory signals on some charts between H4 and H1. In these situations I rather go with the H4 direction until H1 is back in sync with H4.

These past two days have seen some amazing runs on the charts and I am very excited to keep using your approach as part of my own.

Finally - about university and the good life... work hard and play hard! Enjoy your time while you are there and try not to settle down with a serious girl for a while - just play the field and experience life! I was where you are now 20 years ago... its all good!

Thanks again.
Cheers
Shaun
  • #449
  • Mar 1, 2007 1:57pm Mar 1, 2007 1:57pm
Moonchild,


So are you taking the long term trend from the 1hr... Say it's up, then go to the 5 min and wait for that to get long and you take the trade?

Just trying to understand how you took the last few trades you mentioned.


FXjourney,

I'm having the same problem with the contradictions. How are you handeling it? I used to trade Kolachi as well. Is that how you are still trading coupled with the "Sexy Stochs"?

Bago
"Skills pay the bill's!"
  • #450
  • Mar 1, 2007 2:07pm Mar 1, 2007 2:07pm
Quoting bagovino
Moonchild,


So are you taking the long term trend from the 1hr... Say it's up, then go to the 5 min and wait for that to get long and you take the trade?

Just trying to understand how you took the last few trades you mentioned.


FXjourney,

I'm having the same problem with the contradictions. How are you handeling it? I used to trade Kolachi as well. Is that how you are still trading coupled with the "Sexy Stochs"?

Bago

I am determining my direction (I hate to call it trend since it may be a direction which only lasts a few hours) from any 2 or more charts from 15M to daily. In practice I mostly use the 30M, 1H and 4H charts. Then I use the 5 stochastic on the 5M chart to determine entries and exits and I use it for all of the trading if I suspect that the direction may not last. In that case I trade between the upper and lower crosses of the 5.
  • #451
  • Mar 1, 2007 2:08pm Mar 1, 2007 2:08pm
Do you notice the contradictions between the 4hr and 1hr? It seems to disagree more than agree... How do you handle that?

B.
"Skills pay the bill's!"
  • #452
  • Mar 1, 2007 2:17pm Mar 1, 2007 2:17pm
shaun thanks for the kind words and yea im tryin to take it easy and enjoy life.

to answer urs and bago's question looking at different timeframes well this is how u can look at it. if the 1h is pointing down and its the right time of day and all this stuff and a setup is forming then take the trade. the 4h chances are its flat or pointing down too. if its pointing up then just ignore the trade. dont let it confuse u and stress u. now u can be more aggressive and say trade the 1h if its pointing down and everything is right but the 4h is different. chances are the trade will be successful but with a small amount of pips and u prob need to watch it most of the time and get out with a small profit.

i hope this helps a bit guys but i can assure u this stuff will come with experience

ps: 1h gbpjpy could be a nice short. im goin in. same with eurjpy but be careful with yen pairs like i said who knows if the trend has changed or what the deal is so just enter with a small amount.
  • #453
  • Mar 1, 2007 2:20pm Mar 1, 2007 2:20pm
Quoting bagovino
Do you notice the contradictions between the 4hr and 1hr? It seems to disagree more than agree... How do you handle that?

B.
First, I need to have 2 time frames which agree, preferably adjacent ones, but if I have 1 very good looking chart I will accept the adjacent one being neutral. I do not concern myself with other time frames at that point.

You can have a long trade which you plan to hold to 1 to 2 hours, and at the same time have a short trade which you intend to hold for a day and have both of them close with a profit.

As you know what happens on the short term may have very little to do with what occurs on the long term. Very occasionally you get a picture where all the charts are going in the same direction. That is worth its weight in gold because it is a virtual guarantee of success, unfortunately this happens very rarely.

If I am planning a medium to long term trade I do not concern myself overly with the short time frames except to use for my entry. With short term trades the long term charts only tell my how "safe" my trade is which determines whether I stay in it for bounces or dips or exit each time, wait out the bounce or dip and get back in.
  • #454
  • Mar 1, 2007 4:23pm Mar 1, 2007 4:23pm
Moonchild or Boxing,

Last question.... (Until I have another one...)

When you say adjacent time frames matching up, do you mean: 4hr and 1hr match then trade the signal off the 5min? 1hr and 30 min match..... or 30 min and 15 match...? So if the 4 hr and 15 min are going the same way you would not consider that an adjacent time frame right? And wouldn't consider that a trade?

I hope I was clear. I confused myself when I read it back!

B.
"Skills pay the bill's!"
  • #455
  • Mar 1, 2007 4:36pm Mar 1, 2007 4:36pm
Quoting bagovino
Moonchild or Boxing,

Last question.... (Until I have another one...)

When you say adjacent time frames matching up, do you mean: 4hr and 1hr match then trade the signal off the 5min? 1hr and 30 min match..... or 30 min and 15 match...? So if the 4 hr and 15 min are going the same way you would not consider that an adjacent time frame right? And wouldn't consider that a trade?

I hope I was clear. I confused myself when I read it back!

B.

It is clear. I do not believe that Boxing uses multiple time frames, but I do.

No, I would not take a trade in which I had a matching signal on the 4H and 15M but with all the other time frames having opposite signals. That is just my way of trading any signal. I am happiest and most confident when I have more than 2 adjacent signals agreeing.

I have a custom indicator that I use for range trading in which I need a particular set of 3 time frames to agree for me to take a trade. The 3 time frames are different for different pairs, and one pair I only use 2 time frames. I have learned that no matter what indicators or system you use, if you use more than 1 time frame your chances of success are much higher.
  • #456
  • Mar 1, 2007 7:47pm Mar 1, 2007 7:47pm
Moon,

I agree. I always look at multiple time frames. Would you mind sharing this custom indicator your talking about?

B
"Skills pay the bill's!"
  • #457
  • Mar 1, 2007 8:01pm Mar 1, 2007 8:01pm
Quoting bagovino
Moon,

I agree. I always look at multiple time frames. Would you mind sharing this custom indicator your talking about?

B
It is a very nice indicator which is ONLY useful when a pair is ranging. Unfortunately it is not mine to share. It was given to me by the creator in exchange for helping him, but I know that otherwise he sells it. I have no idea how or where or for how much. Under the circumstances I cannot share it. It is called Rubber band and you will sometimes see it on the charts I post and it uses BBs and the indicator itself resembles MACD but is used totally differently.

I do not use it in the way it was originally designed to be used, but since last summer I added stochastics to it and that improved the performance of the system significantly.
  • #458
  • Mar 1, 2007 10:56pm Mar 1, 2007 10:56pm
Quoting bagovino
I'm having the same problem with the contradictions. How are you handeling it? I used to trade Kolachi as well. Is that how you are still trading coupled with the "Sexy Stochs"?
Hi Bago

Yes, I use Kolachi as my main method and am now looking at including the "Sexy Stochs" as an indicator that confirms the trend for me.

Once I have a clear trend I check the Kolachi Moving Averages for best setups and take it from there.

Thanks
  • #459
  • Mar 2, 2007 11:12am Mar 2, 2007 11:12am
Hi All,

I have dropped the 15M from the chat name - everyone seems to be using different time frames. The chat is now called "Currency Trading the Charts with Stochs."
Come visit - see you there next week.

pipsacker
  • #460
  • Mar 2, 2007 2:27pm Mar 2, 2007 2:27pm
Quoting moonchild
It is clear. I do not believe that Boxing uses multiple time frames, but I do.

No, I would not take a trade in which I had a matching signal on the 4H and 15M but with all the other time frames having opposite signals. That is just my way of trading any signal. I am happiest and most confident when I have more than 2 adjacent signals agreeing.

I have a custom indicator that I use for range trading in which I need a particular set of 3 time frames to agree for me to take a trade. The 3 time frames are different for different pairs, and one pair I only use 2 time frames. I have learned that no matter what indicators or system you use, if you use more than 1 time frame your chances of success are much higher.
i use multiple time frames. who said i dont?
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