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This System Has Teeth

  • #21
  • Feb 22, 2011 5:39am Feb 22, 2011 5:39am
Even if this candle remains small until close, price has run up so far and fast that I'd probably wait for another pullback then look for a new trigger candle.
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  • #22
  • Feb 22, 2011 10:00am Feb 22, 2011 10:00am
112 pips locked in since 1:3 has been reached.
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  • #23
  • Feb 22, 2011 10:13am Feb 22, 2011 10:13am
Quoting Toothman
112 pips locked in since 1:3 has been reached.
Great trade... how is it that your 5/3/3 stoch is so smooth... I put a stoch on my 4hr chart and it is so choppy looking.
Today's zone = Tomorrow's opportunity!
  • #24
  • Feb 22, 2011 10:31am Feb 22, 2011 10:31am
Quoting pres78
Great trade... how is it that your 5/3/3 stoch is so smooth... I put a stoch on my 4hr chart and it is so choppy looking.
.....it is because of the 5 decimal broker.
Yeahh!!
  • #25
  • Feb 22, 2011 10:33am Feb 22, 2011 10:33am
Quoting imsick
.....it is because of the 5 decimal broker.

Ok... thanks
Today's zone = Tomorrow's opportunity!
  • #26
  • Feb 22, 2011 10:39am Feb 22, 2011 10:39am
Quoting Toothman
Even if this candle remains small until close, price has run up so far and fast that I'd probably wait for another pullback then look for a new trigger candle.
Correct me if I'm wrong (and believe me, there is a good chance I'm wrong)... But on this chart, the Stoch doesn't go under 40 until 4 or 5 candles after the candle you are mentioning. It doesn't look like a trade would trigger after the trigger candle I'm looking at, which is a good thing, because the price just dives shortly after.

Thanks in advance for any advice with this setup.
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  • #27
  • Feb 22, 2011 3:05pm Feb 22, 2011 3:05pm
Quoting pres78
Great trade... how is it that your 5/3/3 stoch is so smooth... I put a stoch on my 4hr chart and it is so choppy looking.
Set the MA method to Simple in the properties field.
  • #28
  • Feb 22, 2011 3:18pm Feb 22, 2011 3:18pm
Quoting Nate04
Correct me if I'm wrong (and believe me, there is a good chance I'm wrong)... But on this chart, the Stoch doesn't go under 40 until 4 or 5 candles after the candle you are mentioning. It doesn't look like a trade would trigger after the trigger candle I'm looking at, which is a good thing, because the price just dives shortly after.

Thanks in advance for any advice with this setup.
The candle you have circled is a valid trigger candle but the high of that candle wasn't broken within 3 bars so no trade. MACD was above 0 and Stoch was below 40. Even if the high was broken and you entered the trade, the loss would have been small since you picked a nice small trigger candle.
  • #29
  • Feb 22, 2011 10:10pm Feb 22, 2011 10:10pm
Love the system. Subscribed, but i wanted to ask you something, what do you do when you find a trigger candle but there is no confluence between the MACD and Stoch. ?
"The Side that Knows When to Fight and When Not to, Will Take the Victory"
  • #30
  • Feb 23, 2011 3:51am Feb 23, 2011 3:51am
Quoting AMuharram
Love the system. Subscribed, but i wanted to ask you something, what do you do when you find a trigger candle but there is no confluence between the MACD and Stoch. ?
I like to wait for the pullback with the stoch. after MACD has crossed the zero line. You can get some nice runs however by trading the first trigger candle after a recent cross of the MACD if the cross was recent and price hasn't run up a lot yet. Sometimes you'll get burnt doing this because price has made it's run and is ready for a pullback.
  • #31
  • Feb 23, 2011 4:03am Feb 23, 2011 4:03am
HI Toothy. Just to let you know, I will knock together an ea for this sometime in the next week, if nobody else steps in first.

  • #32
  • Feb 23, 2011 5:30am Feb 23, 2011 5:30am
Quoting SteveHopwood
HI Toothy. Just to let you know, I will knock together an ea for this sometime in the next week, if nobody else steps in first.

Thanks much Steve. Let me know if you have any questions before you start. There are a couple of things that would be nice to have adjustable like the stoch. lines and candle length. Would be nice to be able to adjust the TP method to test whether it's more profitable to lock in a 1:1 win when 1:2 has been reached. Or even just to TP at a certain amount of pips.
  • #33
  • Feb 23, 2011 5:31am Feb 23, 2011 5:31am
Reached 1:3 and backed up to close at 1:2 win. 112 pips
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  • #34
  • Feb 23, 2011 6:43am Feb 23, 2011 6:43am
Okay, am i doing this right here??
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"The Side that Knows When to Fight and When Not to, Will Take the Victory"
  • #35
  • Feb 23, 2011 7:22am Feb 23, 2011 7:22am
Hi Toothman,

Thanks for sharing your system with us all here.

My question is about G/J chart can this soon be a sell signal?
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  • #36
  • Feb 23, 2011 7:27am Feb 23, 2011 7:27am
TP 1 Done 77 pips locked (1:1)
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"The Side that Knows When to Fight and When Not to, Will Take the Victory"
  • #37
  • Feb 23, 2011 7:45am Feb 23, 2011 7:45am
Quoting AMuharram
TP 1 Done 77 pips locked (1:1)
Very Nice!
  • #38
  • Feb 23, 2011 8:28am Feb 23, 2011 8:28am
Quoting Nate04
Very Nice!
Thanks Nate!
"The Side that Knows When to Fight and When Not to, Will Take the Victory"
  • #39
  • Feb 23, 2011 9:34am Feb 23, 2011 9:34am
Quoting AMuharram
Okay, am i doing this right here??
You've got it right! MACD above 0, stoch below 40. Break of trigger candle. Trigger candle short with small body.
  • #40
  • Feb 23, 2011 9:36am Feb 23, 2011 9:36am
Quoting momo2k11
Hi Toothman,

Thanks for sharing your system with us all here.

My question is about G/J chart can this soon be a sell signal?
That would be a good trigger candle if it looks like that at the end of the 4HR bar. Then you'll need a break of the low of that candle within 3 bars to enter a sell. If Stoch moves below 60 by the time the break of low occurs, it's still ok to take the trade. If MACD would change sides of the 0 line ,don't take the trade.
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