any good indication today?...looks like no good setup for today?
- #702
- Mar 30, 2007 9:57am Mar 30, 2007 9:57am
- Joined Jan 2007 | Status: Stochastic pipster | 1,657 Posts
any good indication today?...looks like no good setup for today?
- #704
- Mar 31, 2007 4:43am Mar 31, 2007 4:43am
- Joined Jan 2007 | Status: Stochastic pipster | 1,657 Posts
- #706
- Edited Apr 2, 2007 3:00am Apr 1, 2007 3:51pm | Edited Apr 2, 2007 3:00am
- Joined Jan 2007 | Status: Stochastic pipster | 1,657 Posts
Hi Melpheos,
I do see some good trade signals on the 4H timeframe, but it seems like they take DAYS to setup. However, that may work very well for some folks' trading style.
After analyzing the GBP/JPY and the USD/JPY over this weekend, I personally find the best quality signals to appear on the 30M charts for both pairs. I'm going to be starting this week's trading with the following MO:
When I see a trade signal forming on 30M, I'll re-check against the higher TF charts (I always check the 1H and 4H charts at the beginning of trading anyway) to be sure the longer trends are in support of the 30M signal direction. Then I'll zoom down to the 15M chart to get a closer look at the finer action and compare with the 30M chart as things move along. When things have progressed to a possible entry point, I'll move down to the 5M chart to zero in my entry.
So, basically, I'll be using the 30M chart to identify the developing trade signals, verify them against the 1H/4H charts, then I'll move down to 15M and 5M to pull the trigger. I've seen several trades that showed up very nicely on 30M, but if I had used the 30M chart to enter the trade, I would have missed a TON of pips due to late entry.
I have been reading another stochs trading thread in the Journal section by "Spudfyre". His focus is on using a SINGLE stoch (the 5,3,3), but he puts it on multiple time-frames for the GBP/JPY. Boxingislife's mutliple stochs method seems MUCH more favorable in terms of finding more and better entries, but Spudfyre's method reinforced in me the need to use multiple timeframes to help cherry pick the entries and manage the trades in process.
Well, enough rambling for now. Hopefully, we'll ALL make some good pips this week using this VERY COOL system from Boxingislife!
Yes, GPBYEN signal on H4 take days to happen but they have some crazy risk/profit ratio and the risk with lower time frame is the very high tendancy of this pair to move 50-100 pips in an hour...
But it's true that M30 also give many good signal as well
Edit : good long signal on GBPYEN on H1 and forming on H4
- #707
- Edited 12:25pm Apr 2, 2007 12:01pm | Edited 12:25pm
- Joined Jan 2007 | Status: Stochastic pipster | 1,657 Posts
- #708
- Apr 2, 2007 12:25pm Apr 2, 2007 12:25pm
- Joined Jan 2007 | Status: Stochastic pipster | 1,657 Posts
There is good signal forming on eurusd, eurchf, gbpusd, nzdusd, audusd and gbpjpy
There is many more but that the one i follow
Forgot to say that those signal are on daily charts
There is many more but that the one i follow
Forgot to say that those signal are on daily charts
- #710
- Apr 2, 2007 1:25pm Apr 2, 2007 1:25pm
- Joined Jan 2007 | Status: Stochastic pipster | 1,657 Posts
- #712
- Apr 3, 2007 1:00am Apr 3, 2007 1:00am
- Joined Jan 2007 | Status: Stochastic pipster | 1,657 Posts
Thanks! Must've missed that one back a few posts.
About the signal i gave last night, 3 of them are paying, one i loosing, and on is not doing much...
Paying : gbpyen, eurch, eurjpy
Loosing and thrown away untill i see a reversal of the current daily trend nzdusd
not doing much and staying in trade : gpbusd (in fact it is loosing a few pips but the downtrend is not significant
- #714
- Apr 3, 2007 8:46am Apr 3, 2007 8:46am
thanks pipsacker!
Hi All,
Just a reminder, the stochs chat is open during late London and first half of NY. You can find us in Paltalk under Business & Finance/Day Trading Stocks & Bonds/ Currency Trading the Charts with Stochs.
pipsacker
Life is too short to have anything but delusional notions about yourself.
- #718
- Apr 3, 2007 11:04am Apr 3, 2007 11:04am
- Joined Nov 2006 | Status: Because they DO exist... | 424 Posts
My results so far using this system (enhanced by using MTF's):
4/2/2007: +75 pips ( 8 trades)
4/3/2007: +40 pips (plus whatever I get in Aus/Asian session)
I've taken 9 trades thus far, 8 yesterday and 1 early this morning at the UK open. My only loser was for 4 pips, but that was only because I clicked SELL instead of BUY and took a loss on the spread +1 pip
. So, I'm really 8/8 winning trades as far as this system is concerned.
My daily goal is to make 20 pips. Anything over that goes into my "pip bank" for rainy days or non-trading days. Boxingislife, thank you very much for shaing this VERY usable, profitable way to trade the stochs. So far, so good.
4/2/2007: +75 pips ( 8 trades)
4/3/2007: +40 pips (plus whatever I get in Aus/Asian session)
I've taken 9 trades thus far, 8 yesterday and 1 early this morning at the UK open. My only loser was for 4 pips, but that was only because I clicked SELL instead of BUY and took a loss on the spread +1 pip
. So, I'm really 8/8 winning trades as far as this system is concerned. My daily goal is to make 20 pips. Anything over that goes into my "pip bank" for rainy days or non-trading days. Boxingislife, thank you very much for shaing this VERY usable, profitable way to trade the stochs. So far, so good.