MJ - MTF Stochastic

Thanks swenk,


No not really. But I Stop Entering new trades Fridays at 16:00 GMT -- in the hope any open Trade will still close before weekend.

I have to say that until now I did not check the win/loss ration according to different trading times.

But I might do that in the future to see if there is a difference.



I normally trade around the clock 24 hours (start trading Mondays at 4:00 GMT till Fridays 16:00 GMT).



swenk your entry times above is that GMT or how much - +


Do you often enter a second trade of the same Pair while the first is still open?


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I post-phoned my statistic start once more - as I had an idea of quite a big change in my code.

Mj,

-6 GMT ( I am central time zone US)
If I get the same entry criteria there will be a second order before the 1st is closed. I have had up to 3 entry orders within a 45 minute time span.

Final recorded entries for 11/16

EU 9:50 S @ 1.4986
CHFJ 9:50 S @ 88:96
GJ 9:55 S @ 149.96 didn't fill
GJ 12:40 B @ 149.22
AU 21:20 S @ .9394
NU 21:35 S @ .7505
GU 21:30 S @ 1.6857

MJ this is pretty much the average of trades it is picking up daily. Will continue to post this week to verify the average of entries. I only caught 1/3 of these moves.

Just to point out a difference: when I started this thread I would allow 3 similar trades in such a short time period. With my new Similar Pair filter I would not open a second position with a similar Base or Quote Currency within a defined time period. at the moment I use 45 minutes.

which means if AU was still open - I would not execute NU nor GU in the example above.

This does reduce the profit quite a bit - but I had times when a move in one particular currency triggered a couple of unlucky pairs.

Well, it's just one thing which I play around at the moment.

I actually started of with a couple of looser (which is not nice) but that's life.

11/17 recorded trades:

AU 5:30 B @ .9325
UCAD 12:30 S @ 1.0576

Two trades taken live this morning
EU 13:05 B @ 1.4898 S/L 1.488 T/P 1.4922 Loss -15
GU 14:25 B @ 1.6763 S/L 1.6744 T/P 1.6796 +33

Few entries today.

hi swenk,


First :

* thanks for your input -- by the way your last input was more helpful: as it contained your S/L and T/P setting and the outcome - so I can check this on my charts.

* BTW: maybe if you just post the trades you take LIVE (don't bother about the demo) - with ENTRY, S/L, T/P and outcome - would be very helpful. I like to follow / re-check that on my charts

some QUESTIONS to your two live trades:

1. QUESTION: How do you decide on S/L and T/P distance ??


2. QUESTION: what setting for the stoch do you use on PriceLine and OriginLine (do you also use the Rope??)


1. Trade: EU 13:05 B @ 1.4898 S/L 1.488 T/P 1.4922 Loss -15

S/L = 1.4898 -1.488 = 18Pips
T/P = 1.4922 - 1.4898 = 24Pips

3. QUESTION: WHY do you have a Loss of -15 if your S/L was 18 pips away ???


2. Trade: GU 14:25 B @ 1.6763 S/L 1.6744 T/P 1.6796 +33

S/L = 1.6763 -1.6744 = 19Pips
T/P = 1.6796 - 1.6763 = 33Pips

hi swenk, I've got a problem:

your first trade was taken on Nov 17th, Pair: EUR/USD at 13:05 BUY - Execution Price 1.4898


If I put my charts to: GMT -6

I got this screen below. The yellow gross should be the entry time and price ?????

Hey MJ,

I may need some coaching thru this GMT thing. If I am 4 pm CST US it is 9pm GMT ? Anyway I am also sending a screen shot. This is my first hopefully it is sized correctly. As you can see I use the DME HM 5stoch 1 Line indicator with some modifications of my own. You can PM me if you have other questions about some of my entry's. There are other conditions that setup the trades or not.

The time I am sending in with the trades is from FXPRO
Live trades: 5m entry's
EU 19:05 S @ 1.4982 S/L 1.4999 T/P 1.4962 going for simple 20 pips
EJ 19:05 S @ 133.91 S/L 134.11 T/P 133.62 +29
GU 20:20 B @ 1.6721 S/L 1.6706 T/P 1.6736 +15
This is not figuring the spread out of these trades.
S and R figure into the T/P setting.

Hope this helps out

MJ

Forgot to mention this was the EU trade from the 17th that failed. If this trade would have been backed up with a 15m review it would not have been taken. That"s how it goes

Thanks swenk,

> The time I am sending in with the trades is from FXPRO

That is probably why it is different. I installed FXPRO fast at looked at it: GMT+2


BTW: the screen shot is OK

swenk what I do not really understand on you screen shot: what to you mean by: Trade is then triggered by a 50% of engulfing candle.

I have a rough idea but what do you mean by saying: engulfing candle


By the way yesterday your EJ 19:05 S @ 133.91 S/L 134.11 T/P 133.62 +29 ENTRY was excellent. NICE EscalatorToPIPs


I did an excel sheet to follow a bit better your trades - always something to learn from others.

So keep them posted.

MJ,

The reference to the engulfing candle is when that reversal candle (some call it pin, shooting star or morning star is immediately engulfed by the next candle.
Good example is the EJ trade you spoke of above. At this time I will typically let the entry point be at the 50% retrace of the engulfing candle. I don't have the exact percentages of this happening but I would say it is a round 80% of the time. Just cuts down the risk a little bit. The flip to this is you will not get all your trades. This is probably not as necessary on a small time frame. You will notice this quite often on a 30m and 1 hr TF. Need to go back over SPUDS notes over the weekend to tighten up some entries. How do you figure your TP and SL ?

> How do you figure your TP and SL ?

At the moment I have 2 options to configure them for each Pair

( I had 4 options based on something Spud mentioned but removed two of them again)



1. FIX PIPs

2. base on a % calculation from the average candle movement.

This is what I prefer as it has the advantage to increase or degrees the SL and TP depending on recent movements.

MJ

Setting in front of the computer doing some other business caught this trade setup.
I don't often trade this during this time for lack of momentum but it setup for the 5 and 15tf nicely. Not intending for big pips here just positive #s
USDCAD 4:30 @ 1.0659 S/L 1.0673 this was below the Weekly pivot for insurance T/P 1.0637 at the central pivot point.
My other obligations kept me from trading today and probably will Friday. Will be logging trades again next week. Even though I am not able to capture a lot of trades once again this is a proven profitable system this week. Have a nice weekend.

Swenk out

Swenk,

Thanks for your input. What I see already in the excel sheet I started with your trades: You have set a much better S/L - T/P ration than me.

In your case the TP is usually greater than the SL - in my case it is the opposite way around.

So, this encourages me to play a bit with other settings.

Keep posting your Live Trades - I appreciate that - I check each one on my side. THANKS

I have to post-phone my statistic once more:

Did too much programming. Also I plan to do some other configuration based on some input from Swenk.


There is something else: I might be quite busy in the next time:
Somebody asked me to automatize his trading system - which means a whole lot of hours of programming some other systems.

I will post-phone my statistic a bit longer:


As I mentioned - I have agreed to program / automatize for someone his trading system - for OANDA broker.

This will take me quite a couple of weeks. As I give all my focus into this new task - I post-phone my statistic.


So, this is at the moment on hold.

I have enjoyed your discussion here on each of your variations of the Spudfyre MTF Stochastics trading.

Would each of you mind sharing some of the rules that you use for trading - that is - how they DIFFER from the Spudfyre method.

Obviously, the details make ALL the difference between success and failure.

Thanks!

Will be back on board 12/6 and trading will keep you posted on entries.

Paul, I will explain some of the differences that I have developed out of Spuds MTF. I trade mostly the 5 and 15m time frames due to my other obligations away from trading. I guess you could say I am a part time trader. I use the DME_HM_5stoch 1 line (The 15 m stoch is the only one I use after observing the other tf stoch have there use but don't fit for what i am looking for) I am using a 20/5/5 lw in place of the 14/1/1 spud uses to cut back on the noise.
Support and resistance is also used along with certain candle setups. Will post some charts this upcoming week.

Good to see you back swenk.

I'm still interested in you posting the Live trades.


I'm at the moment post phoned my testing - because of a major programming task for automatizing for a other trader his trading system.

But as soon as I got the major stuff done - I will restart my tests.

Getting ready for start of next year.

Still programming for someone else - so I have a bit limited time

- but I will be back with Live trading and continuing this thread in the begin of next year.


Until then: I wish everyone

All the BEST: for YEAR 2010.