30 min chart
likely be able see this one!
- #101
- Mar 20, 2007 3:14pm Mar 20, 2007 3:14pm
- Joined Jan 2007 | Status: Trader | 5,864 Posts
30 min chart
likely be able see this one!
- #103
- Mar 20, 2007 5:06pm Mar 20, 2007 5:06pm
- Joined Jan 2007 | Status: Trader | 5,864 Posts
I don't do that - I do it by hand
I do one chart per pair
& move the time frames on it
I start with the day time frame
& draw a line where the stoch crosses (fat line)
then move to the 4 hour - (the day line is still on it)
I then place the thin line on the 4 hour chart where the stoch crosses
I then move to the 30 min - (the 2 lines are still on it)
& I have the 30 min stoch which I put the arrows from
the charts I use are MT4 & OANDA
& you can move the time frames & still keep the lines one
others do have programs you can get all three
but I have tried a few & they work
but I fould doing it by hand is still better
I do one chart per pair
& move the time frames on it
I start with the day time frame
& draw a line where the stoch crosses (fat line)
then move to the 4 hour - (the day line is still on it)
I then place the thin line on the 4 hour chart where the stoch crosses
I then move to the 30 min - (the 2 lines are still on it)
& I have the 30 min stoch which I put the arrows from
the charts I use are MT4 & OANDA
& you can move the time frames & still keep the lines one
others do have programs you can get all three
but I have tried a few & they work
but I fould doing it by hand is still better
Hi Teb,
nice approach, I also use 3 TF's simultaneously on one screen M1, M15 or 30 and H4 but mainly use fibos. I'm trying to adapt your stoch metod, maybe EMAs also to find daily trend and not play against it.
Do I get it right that for example let's take yesterday on Cable (I only trade Cable), Daily stoch shows uptrend in March, yesterday stoch signaled @ 0300 GMT on M30 and H4 so this would be your entry point? When do you exit? Would you take another trade @ 1000 and 1500 GMT?
How many pips do U scalp each trade and how many trades per day do you get (arrows = trades??)? I'm tired of catching 100+ pips moves per day and now i look for quick trades, jump into running train with 25 pips TP and get out at the first train station
Wait for another. Just not to get caught without a ticket
Best regards
nice approach, I also use 3 TF's simultaneously on one screen M1, M15 or 30 and H4 but mainly use fibos. I'm trying to adapt your stoch metod, maybe EMAs also to find daily trend and not play against it.
Do I get it right that for example let's take yesterday on Cable (I only trade Cable), Daily stoch shows uptrend in March, yesterday stoch signaled @ 0300 GMT on M30 and H4 so this would be your entry point? When do you exit? Would you take another trade @ 1000 and 1500 GMT?
How many pips do U scalp each trade and how many trades per day do you get (arrows = trades??)? I'm tired of catching 100+ pips moves per day and now i look for quick trades, jump into running train with 25 pips TP and get out at the first train station
Wait for another. Just not to get caught without a ticket Best regards
- #105
- Mar 20, 2007 5:20pm Mar 20, 2007 5:20pm
- Joined Jan 2007 | Status: Trader | 5,864 Posts
Just a few thoughts of what I have found!
does anyone have their own wisdom they would like to add!
does anyone have their own wisdom they would like to add!
- Forex is great but you trade at your own risk! Not mine!
- Find a good honest broker that doesn’t bet against you-I use OANDA
- Candles work- I don’t think they should! I don’t know why they do - they just do!
- The more tools you use the more you lose! One or two is lots-really!
- Multi-Time frames are the key to trading forex.
- The higher the time frame the easier it is to see the trend & so trade.
- Use lower time frames as for buy & sell signs.
- Learn as much as you can from anywhere you can.
- KISS works best ( keep it simple smarty)
- Follow the trend- till you can don’t trade!!!
- Follow your trading plan- till you can don’t trade!!!
- Learn to draw Trend lines - Support & Resistance & Channels- Its money in the bank.
- You will have loses – So have a stop loss always - I use 35 pip SL.
- Don't be the 1st one to the party- Don't be the last one to leave the party.
- You don't have to get every "pip-pip" to have fun
- EUR/USD, USD/JPY, USD/CHF, EUR/JPY Are the easiest to trade and in that order
- Price is a false mistress- momentum is a faithful wife!!
- #106
- Mar 20, 2007 5:40pm Mar 20, 2007 5:40pm
- Joined Jan 2007 | Status: Trader | 5,864 Posts
Hi Teb,
nice approach, I also use 3 TF's simultaneously on one screen M1, M15 or 30 and H4 but mainly use fibos. I'm trying to adapt your stoch metod, maybe EMAs also to find daily trend and not play against it.
Do I get it right that for example let's take yesterday on Cable (I only trade Cable), Daily stoch shows uptrend in March, yesterday stoch signaled @ 0300 GMT on M30 and H4 so this would be your entry point? When do you exit? Would you take another trade @ 1000 and 1500 GMT?
How many pips do U scalp each trade and how many trades per day do you get (arrows = trades??)? I'm tired of catching 100+ pips moves per day and now i look for quick trades, jump into running train with 25 pips TP and get out at the first train station
Best regards
I normal go in 3 or 4 lots
1st lot 10 pips +spread & out
2nd lot 25 pips+ spread & out
3rd (4th) lot I move the sl up to 5 more then I buy in for
& I do as I like in the exit
1.by candles
2 the crossing of the 30 min stoch
3.the crossing of the 4 hour stoch- think this is likely the best
but if I don't like the way it looks- I will bail after 10 pips + spread
I did 3 times today more then I do normally - all 3 times I was right
The reason I think for today was so many of the pairs on the day stoch
were in the 20 or 80 % range - I never like when that is the case
you can have big moves opp the last trend very fast I have found
hope that helps
last-- the trend thing add a slow stoch at setting 14,3,3 & only trade with it
it will be right 85% its to slow to be a trigger but will save your bacon.
doing fibs & ems & stoch???? - stay with one
I don't like fibs to much work but if you like them great go with it !
last-- the trend thing add a slow stoch at setting 14,3,3 & only trade with it
it will be right 85% its to slow to be a trigger but will save your bacon.
doing fibs & ems & stoch???? - stay with one
I don't like fibs to much work but if you like them great go with it !
We'll see tomorrow how it works.Of course I totally agree: keep it as simple as possible!!!!
- #110
- Mar 21, 2007 6:59am Mar 21, 2007 6:59am
- Joined Jan 2007 | Status: Trader | 5,864 Posts
how to set sl & tp
here is an idea
30min chart
go to the hour chart & look for a channel
(if I can not find one I go to the 4 hour chart)
you can do it on the 30 min just easier on the hour
it forms a "playing field"
the top is the target
the botton is the stop loss
wait for the candle to close
here is an idea
30min chart
go to the hour chart & look for a channel
(if I can not find one I go to the 4 hour chart)
you can do it on the 30 min just easier on the hour
it forms a "playing field"
the top is the target
the botton is the stop loss
wait for the candle to close
- #111
- Mar 21, 2007 10:51am Mar 21, 2007 10:51am
- Joined Jan 2007 | Status: Trader | 5,864 Posts
30 min
arrows are touches
to form the channel
6 red & 5 blue - very strong
- #113
- Mar 21, 2007 1:06pm Mar 21, 2007 1:06pm
- Joined Jan 2007 | Status: MTF Stochastics and Volume/Price | 1,133 Posts
Uh oh, before you know it, the one indicator system is going to start having multiple indicators on it. Fibo's and channels, it will soon be SRDC all over again.
The best exit strategy is taking positive pips.
Focus on your favorite indicator but why don't help yourself with basic AT like Elliot waves, trendlines, channels, triangle formations or candles? These are simple to observe and only thing is, that you just have to be aware of them
- #115
- Mar 21, 2007 3:03pm Mar 21, 2007 3:03pm
- Joined Jan 2007 | Status: MTF Stochastics and Volume/Price | 1,133 Posts
Heh yeah but it still is simple and plain, when I see people posting screens where 1/8 is the chart and rest is full of indicators that's ... hmmm messy
Focus on your favorite indicator but why don't help yourself with basic AT like Elliot waves, trendlines, channels, triangle formations or candles? These are simple to observe and only thing is, that you just have to be aware of them
- #117
- Mar 21, 2007 6:32pm Mar 21, 2007 6:32pm
- Joined Jan 2007 | Status: Trader | 5,864 Posts
TEB you have a wonderful concept going with the different time frames. One thing I have a question/concern about. On your higher chart, daily in this example, wouldn't you want to use a some type of trend tool (ma, macd, sar) to see what direction the trend is or if it is sideways, then use an oscillator on the mid time (4 hour) to get a signal from stoch or %R, then make your entry on the 30 min again with the trend tool once price was going in the direction of the big trend? I noticed using all oscillators on a strong trend will just max out all of them at overbought and give a sell signal while the market is moving up. I was thinking, if you used a trend tool on biggest time frame to see direction and if it was sideways, then use stoch, otherwise use the direction of your trend tool. Then confirm it on the mid time with stoch in the direction of the big trend, and get your entry on the small time again with a trend tool signal. Just an idea, what do you think?
The 4 hour stoch is the "trend tool" -- is the main tool
all the tools you speak could do the job also
personly I like the stoch- it is simple I like simple
if you like you can do the same thing with the others-
the sars, I showed worked on the 1st page of this thread.
but you will have better rewards if you stay with the same main tool`
same information- diff times gives a clear understanding of the market
but you can do as you like
play with other tools & tell us how you do.
I hope that helps
- #118
- Mar 21, 2007 7:40pm Mar 21, 2007 7:40pm
- Joined Jan 2007 | Status: Trader | 5,864 Posts
I'm as guilty as anyone, I'm using a 25 LWMA +/-50 from tkimble to let me know where I am in the trade. (But, I didn't just write that here.) BTW it makes a nice channel too. (I didn't write that either).
The thread's name was changed from when I began it,
& I really didn't like the name it was changed to.
- what I was trying to do in this thread was to speak about multi- time frames.
I said from the start one or two tools were all the big boys use.
I also said the big boys look for a set-up & then use one tool as a trigger.
so that might be 3 tools total.
The set up I think should be simple -
I think it is best & easiest to use that way- I only use 3 tools most of the tiime.
but if the set up uses fibs great ( I think the 50% is very powerful personally)
or E. Waves so be it. or even pp
(which I wouldn't use personly because their are so many sets at anyone time of them)
my point was not that tools were bad rather they are 2nd to time frames.
and I wanted to showed you can have a great system with just one tool
and a number of time frames -that was the point
Hey guys
The thread's name was changed from when I began it,
& I really didn't like the name it was changed to.
- what I was trying to do in this thread was to speak about multi- time frames.
I said from the start one or two tools were all the big boys use.
I also said the big boys look for a set-up & then use one tool as a trigger.
so that might be 3 tools total.
The set up I think should be simple -
I think it is best & easiest to use that way- I only use 3 tools most of the tiime.
but if the set up uses fibs great ( I think the 50% is very powerful personally)
or E. Waves so be it. or even pp
(which I wouldn't use personly because their are so many sets at anyone time of them)
my point was not that tools were bad rather they are 2nd to time frames.
and I wanted to showed you can have a great system with just one tool
and a number of time frames -that was the point
HI TEB
I also think you found the keys, but just wondering , how do you know exactly what the big boy are playing with?
thanks a lot