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bringin sexy back - stochastics

  • #2,381
  • Apr 23, 2009 6:33am Apr 23, 2009 6:33am
Hello M.A.C.Doug!

Good trade and combination of confirmations

I took similar trade, but i can say that it wasnt the best, because of the time of the day......take a look....

I took it from that point because i thought i would be a nice early entry, because 1h 20 and 50 there heading up and 5 pulling back, also 4h was starting to raise and a double bottom was formed on it , but as i said earlier - time of the day and assian session...

So you can see there i put my SL and TP, ir worked out but i think in future i have to avoid risking like that, what is your opinion?

One more question to you, how you handle the news?Do you read all news before starting tot trade?
And what Moving Averages do you use?

Bye
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  • #2,382
  • Apr 23, 2009 6:40am Apr 23, 2009 6:40am
hi guys

i will try and post some trades later, i have my yearly final exams so alot of revision is being done! its sad because it leaves me with less time to trade .

i've read trading in the zone twice and its an eye opening book, it has helped me be a lot more disciplined about my trading. before i was quite pessimistic about systems, by this i mean i'd take a few trades and if lost more then i would scrap the system without giving it a chance. Now after reading the book and studying this thread i feel that its a gud system and just need to stay disciplined.
  • #2,383
  • Apr 23, 2009 7:20am Apr 23, 2009 7:20am
Great, i want to read that book but i dont know if it is in russian, because my russian is better that english
  • #2,384
  • Edited 6:17pm Apr 23, 2009 5:29pm | Edited 6:17pm
Quoting zajcik
Hello M.A.C.Doug!

Good trade and combination of confirmations

I took similar trade, but i can say that it wasnt the best, because of the time of the day......take a look....

I took it from that point because i thought i would be a nice early entry, because 1h 20 and 50 there heading up and 5 pulling back, also 4h was starting to...
Thanks for posting your trades for us to discuss
you used the 4h to get a directional bias and you were paid for your correct judgement, well done! often you can get a very clear picture from the higher time frames. You then went to the 15 minute and entered without a good signal on that time frame and so your timing was off. This system is primarily a single time frame trigger with the longer time frame analysis already built in ( 20 and 50 stoch lines). Fortunately your entry was still a good signal from the 4hr chart and played out perfectly on that time frame.
Quoting zajcik
One more question to you, how you handle the news?Do you read all news before starting tot trade?
I check the calender to see what releases are due as big releases cause consolidation prior to the release and its often better not trading. I do read news stories but try not to let opinion, even my own, interfere. We are technical day traders. I am only interested in what price is telling me.
Quoting zajcik
And what Moving Averages do you use?
they are a different system and dont play a big part at all except direction confirmation. They are a weighted 5 and a simple 8. I would have been better off just focusing on sexy stoch quite frankly.
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  • #2,385
  • Edited 9:12pm Apr 23, 2009 8:58pm | Edited 9:12pm
here is a good signal I took during asia today on the 30 min chart. the sexy stoch signal occurred at the close of doji reversal candle, I love it when that happens and shows how good our so called lagging indicator is. Again plenty of confluence going on for a confident entry. I took the screen shot just prior to my target so you could see my stop and profit levels and that the trade was real
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  • #2,386
  • Edited 1:28am Apr 24, 2009 12:44am | Edited 1:28am
took this 30 min set up. Its a breakout trade and they often turn into fakeouts especially pre london. It needs to make a new high of 1.3220 to reach my target for a 1:1 risk/reward. Ive risked 1% of my account on this trade which is my standard account risk per trade. I think it is a good idea to post trades when they are entered rather than after the fact. Better still, call the trades in advance
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  • #2,387
  • Apr 24, 2009 3:55am Apr 24, 2009 3:55am
Target was easily and quickly achieved with price targeting r2 pivot. that makes 7 in a row and 5% account increase in two days. Where were you guys?
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  • #2,388
  • Edited 6:03am Apr 24, 2009 5:23am | Edited 6:03am
currently watching this set up forming on the 15 min.
EDIT: bugga, there was a chart here showing the trade setting up, I swear
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  • #2,389
  • Edited 6:17am Apr 24, 2009 5:40am | Edited 6:17am
trade entered with tight stop and tp
edit: trade won quickly and easily adding another 1% to account (see second chart}
A good trade called in advance but no one was here at the time, never mind, anyway that is how I trade the system. A single currency pair on 15, 30, and hourly timeframes. 8 trades no losses for a 6% return in two sessions. Thats as good as it gets in my book. Big thanks to Melpheos for sharing his alert indicator which helped me get the trades without screen watching for hours
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  • #2,390
  • Apr 24, 2009 6:19am Apr 24, 2009 6:19am
hi MacDoug

I notice that a few of your recent trades dont have the 50 or 20 sloping significantly(or at all) in the direction of your trade...were these then slingshot trades..or some other setup?

L
All that matters is winning the week
  • #2,391
  • Edited 7:01am Apr 24, 2009 6:43am | Edited 7:01am
Quoting lindsayf
hi MacDoug

I notice that a few of your recent trades dont have the 50 or 20 sloping significantly(or at all) in the direction of your trade...were these then slingshot trades..or some other setup?

L
Hi lindsayf, thanks for your inquiry and the opportunity to share my view.
although as a sideline I do watch price action and was able to determine that an uptrend was in place, from my perspective, the set ups were perfect slingshot set ups. The 20 and 50 were in overbought territory above the 70 level. The correct interpretation of the indicator when it is like this is, that we are now trending very strongly, making these set ups ideal sexy stoch trades. The 20 and 50 lines can remain overbought/sold for a long time during big trends and the slope is not important under these conditions. This interpretation is taught by boxing within the thread and will be confirmed by any experienced stoch watchers. They also showed up with melpheos' alert indicator as scenario 2 valid set ups so Ill rest my case there
P.S I know my case is rested but did I mention 8 out of 8 wins?
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  • #2,392
  • Apr 24, 2009 7:39am Apr 24, 2009 7:39am
thks for the explanation...makes perfect sense... it was the slopes that threw me..but of course that isnt relevent in those zones...

I use the 80/20 to define the overbought/sold levels...choice I suppose. wonderful stuff..8 out of 8!

something I have noticed just experimenting with some of these set ups is that the signals on tick charts can often contradict a time chart...ie 200tic vs 15 minute. Has anyone here used tic charts and are they known to not be particularly reliable for sexy stoch signals...cant think why that would be the case ??
All that matters is winning the week
  • #2,393
  • Apr 24, 2009 11:08am Apr 24, 2009 11:08am
Quoting M.A.C.Doug
trade entered with tight stop and tp
edit: trade won quickly and easily adding another 1% to account (see second chart}
A good trade called in advance but no one was here at the time, never mind, anyway that is how I trade the system. A single currency pair on 15, 30, and hourly timeframes. 8 trades no losses for a 6% return in two sessions. Thats as good as it gets in my book. Big thanks to Melpheos for sharing his alert indicator which helped me get the trades without screen watching for hours
very nice trade maybe share your tempelte?and indicator on your chart...thankes
  • #2,394
  • Edited 2:36pm Apr 24, 2009 11:59am | Edited 2:36pm
Quoting M.A.C.Doug
Thanks for posting your trades for us to discuss
you used the 4h to get a directional bias and you were paid for your correct judgement, well done! often you can get a very clear picture from the higher time frames. You then went to the 15 minute and entered without a good signal on that time frame and so your timing was off. This system is primarily a single time frame trigger with the longer time frame analysis already built in ( 20 and 50 stoch lines)....


Thank you for your answers M.A.C.Doug

I also read yout thread about line break and i liked it

Tomorrow going to rusisan library to buy a trading in the zone in russian if there is this book in russian...

As for today i wasnt trading, because was in university all day

p.s. you are write it is better to post trades when you place whem it is more real.

p.s.s. about that trade - it was really great, dont forget about 20 BB sma as resistance also want to add that that was one of the most perfect trades ever , because of following reasons : all 5-3-3 stochastic on all tmeframes were up at your entry point
  • #2,395
  • Apr 24, 2009 12:09pm Apr 24, 2009 12:09pm
Quoting M.A.C.Doug
took this 30 min set up. Its a breakout trade and they often turn into fakeouts especially pre london. It needs to make a new high of 1.3220 to reach my target for a 1:1 risk/reward. Ive risked 1% of my account on this trade which is my standard account risk per trade. I think it is a good idea to post trades when they are entered rather than after the fact. Better still, call the trades in advance

Just wanted to congratulate you for that trade it worked out nicely
  • #2,396
  • Edited 7:48pm Apr 24, 2009 7:37pm | Edited 7:48pm
this was my last trade of the session, I went to bed soon after the entry. price had moved quite a bit during the last two sessions and now needed another breakout above the R2 pivot. I thought that was unlikely on a friday. It was a low probability trade from my perspective
Why did I take a low probability trade?
1. It was a valid set up
2. who am I to call the probability of a set up?
3. I have excellent profits from 8 consequetive wins
4. I can protect my gains using Money Management
5. I wanted to show the system can lose
6. Trading is not about being right

The losing trade is highlighted in blue. Notice the size of the loss compared to the recent winners. There is no need to be GREEDY, I didnt need any more profit. I didnt like the trade so I only risked a small amount on it. Using money management I was able to overcome FEAR and pull the trigger on a valid set up, knowing it wasnt going to hurt me. Understanding this is more important than any other aspect of trading
I had a lucky run, The market broke out and trended up and I was able to ride it using this trending system. I trade conservatively and safely because I know the market is completely unpredictable and each of those entries could easily have been losers. If so - I would have preserved 95% of my account and been ready for the good times returning. Win or lose, it was good trading and that is all that counts
nah..zip..ahh.. ALL THAT COUNTS!
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  • #2,397
  • Apr 25, 2009 3:52am Apr 25, 2009 3:52am
Quoting M.A.C.Doug
trade entered with tight stop and tp
edit: trade won quickly and easily adding another 1% to account (see second chart}
A good trade called in advance but no one was here at the time, never mind, anyway that is how I trade the system. A single currency pair on 15, 30, and hourly timeframes. 8 trades no losses for a 6% return in two sessions. Thats as good as it gets in my book. Big thanks to Melpheos for sharing his alert indicator which helped me get the trades without screen watching for hours
You'r welcome
  • #2,398
  • Apr 25, 2009 8:00pm Apr 25, 2009 8:00pm
Quoting melpheos
You'r welcome
HI Melpheos, old friend
I get what case 1 and 2 are but could you please enlighten me what case 4 is? I cant make any sense of those set ups and I cant find the relevant info anywhere
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  • #2,399
  • Apr 26, 2009 2:47am Apr 26, 2009 2:47am
Quoting M.A.C.Doug
HI Melpheos, old friend
I get what case 1 and 2 are but could you please enlighten me what case 4 is? I cant make any sense of those set ups and I cant find the relevant info anywhere
These are hyper overbought/oversold situation when a reversal is likely to occur.

I think i have put the default setting to 95 and 90 or even higher. I did not work a lot on them.

After looking your chart i see something strange. I have no idea why this signal (circled in red) is showing on your chart
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  • #2,400
  • Apr 26, 2009 8:49am Apr 26, 2009 8:49am
M.A.C.Doug could you please share your Pivot Points indicator?
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