MTF Stochastics | Page 4 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

The Art of Trading with MTF Stochastics 1,017 replies

MTF Stochastics into MTF Stoch Histogram 8 replies

Trading MTF STochastics Manual 13 replies

MTF Stochastics EA's 55 replies

MTF Stochastics Trade Journal 12 replies

Attachments: MTF Stochastics
Exit Attachments

MTF Stochastics

  • #61
  • Mar 29, 2007 11:59am Mar 29, 2007 11:59am
I got a few messages last night about prices I was listing. I'm calculating the spreads into what I list and from my different brokers which is confusing some people.

So to make it easier and set a standard, I will am going to quote my trades off StrategyFX with the MoneyTec broker prices. This will be our standard for this journal.

I will quote the entry price as the price from here. I will then simply state the Stop in pips and the TP in pips. This will eliminate the spread differences that you may have from me.

So if you have a 10 pip spread from your broker obviously in reality you will need to make 30 pips a day (which is what I usually have to do).
  • #62
  • Mar 29, 2007 12:10pm Mar 29, 2007 12:10pm
These are our results since March 28, 2007

Days Traded: 2
Total Net Pips to Last Completed Trade: 60

Total Trades: 5
Winners: 4
Break-even: 1
Losses: 0
Winning Percentage: 100%
Worst down draw: 53 pips

Daily Goal: 20 pips
Daily Goal Met: 2/2

Pips in Pip Bank: 20

Typically this journal will be active from 6 am-12 noon and 7 pm to midnight when trading is available. I have a life and I do this for free, so these are not fixed times. I am actively here all day so I may sneak a few trades in as well at other times.

Hmmm...I was hoping to stick this at the top of the forum, it didn't work.
  • #63
  • Mar 29, 2007 12:11pm Mar 29, 2007 12:11pm
hey spud,

how many lots do you trade at a time?? are they mini lots or standard lots??
  • #64
  • Mar 29, 2007 12:20pm Mar 29, 2007 12:20pm
Quoting mtrmth
hey spud,

how many lots do you trade at a time?? are they mini lots or standard lots??
1 lot at a time....standard lots. Start with mini and increase lots as the bank roll increases until the standard makes more sense.

I keep my account at a level so that my worst loss is 2% of my account. That way I can lose 50 times in a row before killing my account...a very unlikely scenario even on my worst days.
  • #65
  • Mar 29, 2007 12:22pm Mar 29, 2007 12:22pm
What a nailbiter! Good show! I was thinkin' more along the lines of Mrs. DOUBTfyre instead of Mr. Spudfyre there for a few!

I've been reading and following another stochastics method introduced by Boxingislife which I think has some very strong parallels/correlations with your method. If you get the chance, give this a read and see what you think...

http://www.forexfactory.com/showthread.php?t=13321

Thanks and great job!
  • #66
  • Mar 29, 2007 12:29pm Mar 29, 2007 12:29pm
Quoting Pipskateer
What a nailbiter! Good show! I was thinkin' more along the lines of Mrs. DOUBTfyre instead of Mr. Spudfyre there for a few!

I've been reading and following another stochastics method introduced by Boxingislife which I think has some very strong parallels/correlations with your method. If you get the chance, give this a read and see what you think...

http://www.forexfactory.com/showthread.php?t=13321

Thanks and great job!
I read every system, and test every system. Much of what I do I suspect comes from many systems and learning their strengths and weaknesses. I keep the faith that someone will one day discover an easier way to make pips than me....hopefully one that is mechanical in nature.

Now be nice...Mrs. Doubtfyre! My imperial spatula gives you one whack on the head for that one.
  • #67
  • Mar 29, 2007 12:54pm Mar 29, 2007 12:54pm
Quoting Spudfyre

Now be nice...Mrs. Doubtfyre! My imperial spatula gives you one whack on the head for that one.
Ouch! :
  • #68
  • Mar 29, 2007 1:05pm Mar 29, 2007 1:05pm
Great stuff...thanks Spudfyre....good learning material.

BP
  • #69
  • Mar 29, 2007 1:19pm Mar 29, 2007 1:19pm
I like very much your method wiht pip bank, nice and innovative ideea, which has a great psihological effect.
I like that you aren't greedy,to , 20 pips is enought.
"Abandon all hope, you who enter here" La Divina Commedia, Dante Alighieri
  • #70
  • Mar 29, 2007 1:55pm Mar 29, 2007 1:55pm
Quoting semar
I like very much your method wiht pip bank, nice and innovative ideea, which has a great psihological effect.
I like that you aren't greedy,to , 20 pips is enought.
Thanks. 20 pips is all you need...maybe less. It's all about how much your pips are worth. It's an exponential scale to make pips and ten times easier to lose a pip then gain one.

It's fun to chase 100 pips, 300 pips...it feels great when you hit it. But you need a strong constitution and zero emotions to enter those trades when they dive 150 pips on you.....do I really want to spend 5 days worrying about a trade...or a couple of hours?

Like I said before, you can trade for 20 pips all day long at least a dozen times a day and be extremely successful and remarkably accurate doing it. Or you can try and trade for 100 pips, be stressed for days on end and lose 19 times out of 20...talk about beating yourself over the head.
  • #71
  • Mar 29, 2007 2:01pm Mar 29, 2007 2:01pm
Would now be a good short entry point? The 15m stochs have been in a downtrend for a while and now approaching 20 while the 30m stochs are starting to turn over. Also, the 1hr was in a downtrend, but has since turned slightly to the upside and the 4hr is topping out above 80. I hope my analysis is not off by too much.
  • #72
  • Edited 5:31pm Mar 29, 2007 2:43pm | Edited 5:31pm
Spud,

Can you comment on your 6 figure salary? Was that made by trading this method in FX? If so, that is incredible. I will be watching your every move and learning all I can from you. Thanks for sharing your journal.

Regards,
DL
  • #73
  • Mar 29, 2007 4:18pm Mar 29, 2007 4:18pm
Hi Spudfyre,
Wonderful thread . Thank you very much for your effort to share your system.
  • #74
  • Mar 29, 2007 5:56pm Mar 29, 2007 5:56pm
Let's take a look at where we the markets are.

The Daily made that move I spoke of last night where it looked like it might make an early turn up. It hasn't crossed and may just kiss the line and go back down. This is a problem at the moment as it doesn't give us any real trend to rely on.

Everything else from 30-4H is looking like a down turn is ready with the 30 already turned.

However the 15 is on its way up?

Let's wait and see what happens with the 15 and when it gets to the top where the 30 is. I'd rather be safe on this one and wait out the moves then dive into a sell right now.
  • #75
  • Mar 29, 2007 6:09pm Mar 29, 2007 6:09pm
Just from pure statistical analysis we know that the price will drop over the next 24 hours at some point looking how the day has opened and where the price is. The question is, will that be now or later and if we went with just stats what kind of stop would we have to ride out.

Almost all our RSI's are headed down, that would support a down move. However they are also all above 50 which could mean we are in a prolonged up trend.

I have 9 and 100 MA's on my charts. They are experimental and from a system someone posted here. On the daily they point to an uptrend as they almost have crossed.

All the rest have already crossed which would mean long too.

So I'm going to think that we are in a favoured long position right now and see what effect the 15/30 has on price over the next bit. What I will look for is:

Is the price moving more on the up or down of the stochs?
How fast are the stochs rising and falling with price movement?
How far separated are they or how much are they leading the red line?
How is the RSI moving through all this?

If we are in an uptrend, I suspect we will see arapid climb of the 15 or it will simply bottom out under 80 and fstay there while the 30 moves down.

If we get the 15/30 down at the bottom I suspect the 1H will follow as the 30 makes its turn below 80, or the 1H will do a rapid dive. If this is the case, I'm going for the long when the 15/30 are above 80 and moving up.

I'm much more nervous about trading anything down unless we get all 4 time periods lined up 15/30/1H/4H

Let's just watch and see how price moves and its affect on the stochs, this is still our best indicator.
  • #76
  • Mar 29, 2007 6:12pm Mar 29, 2007 6:12pm
Quoting scottymoll
Would now be a good short entry point? The 15m stochs have been in a downtrend for a while and now approaching 20 while the 30m stochs are starting to turn over. Also, the 1hr was in a downtrend, but has since turned slightly to the upside and the 4hr is topping out above 80. I hope my analysis is not off by too much.
Sorry I missed that time period so can't comment as I didn't see where the stochs were or what they were doing at the time. How did it turn out?
  • #77
  • Mar 29, 2007 6:14pm Mar 29, 2007 6:14pm
Quoting lcfxtrader
Spud,

Can you comment on your 6 figure salary? Was that made by trading this method in FX? If so, that is incredible. I will be watching your every move and learning all I can from you. Thanks for sharing your journal.

Regards,
DL
I'm not going to comment on that now, but I will say that the whole reason I am where I am is on the 20 pip core bank the rest philosophy which I use in every income endeavor. Forex and this method has much to do with it.
  • #78
  • Mar 29, 2007 6:24pm Mar 29, 2007 6:24pm
Another interesting indicator is the 5M Stoch has peaked below 15 twice in it's past two down swings. This is an ominous sign we won't be getting any lower peaks for a while and supports a long move. Just keep this one in the back of your mind.
  • #79
  • Mar 29, 2007 6:44pm Mar 29, 2007 6:44pm
Quoting Spudfyre
These are our results since March 28, 2007

Days Traded: 2
Total Net Pips to Last Completed Trade: 60

Total Trades: 5
Winners: 4
Break-even: 1
Losses: 0
Winning Percentage: 100%
Worst down draw: 53 pips

Daily Goal: 20 pips
Daily Goal Met: 2/2

Pips in Pip Bank: 20

Typically this journal will be active from 6 am-12 noon and 7 pm to midnight when trading is available. I have a life and I do this for free, so these are not fixed times. I am actively here all day so I may sneak a few trades in as well at other times.

Hmmm...I was hoping to stick this at the top of the forum, it didn't work.

Hi Spudfyre,

Shouldn't the winning percentage to be calculated as total winner/ total trade x 100% which yours will be 4/5 x100% which is 80%. You didn't lose in 1 trade, but didn't win either.
  • #80
  • Mar 29, 2007 6:55pm Mar 29, 2007 6:55pm
Quoting zobo
Hi Spudfyre,

Shouldn't the winning percentage to be calculated as total winner/ total trade x 100% which yours will be 4/5 x100% which is 80%. You didn't lose in 1 trade, but didn't win either.
True enough, but if I don't lose I call it a "win". Maybe a "save"? Probably just count it as a neither a win nor a loss and just a zero. Actually, technically I won the spread
3 traders viewing now