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MJ- Test Journal 2011

  • #21
  • Mar 17, 2011 8:21am Mar 17, 2011 8:21am
Again no trading today - seems they finished the work in the house I'm living and I might look into possible setups tomorrow.
__Thanks__ MJ
  • #22
  • Edited 4:26am Mar 18, 2011 4:14am | Edited 4:26am
Watching EURAUD for possible Long based on H1. Alarms are set.
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  • #23
  • Mar 21, 2011 4:27am Mar 21, 2011 4:27am
No trading today.
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  • #24
  • Mar 22, 2011 5:19pm Mar 22, 2011 5:19pm
Hi MJ!

I was reading the story and don't understand much of this 'Elastic' setup.

I probably skipped this story in Spuds thread as well...

Can you tell me something about this theory?

I also have to learn to trade higher TF's! You would love to play the 15min chart idealy if you see it but the horror that keeps you waiting so long.. And than the big stops: I realy hate!
Life is great!!
  • #25
  • Mar 23, 2011 1:43am Mar 23, 2011 1:43am
hi despichtt,

response in blue

Quoting despichtt
Hi MJ!

I was reading the story and don't understand much of this 'Elastic' setup.

I probably skipped this story in Spuds thread as well...

Can you tell me something about this theory?
[color=Blue]
Probably you are doing some of it already. At the moment I do not have too much time but there are some other good related infos around:

[b][u]1....
__Thanks__ MJ
  • #26
  • Mar 23, 2011 1:44am Mar 23, 2011 1:44am
hi despichtt,

response in blue


I was reading the story and don't understand much of this 'Elastic' setup.

I probably skipped this story in Spuds thread as well...

Can you tell me something about this theory?

Probably you are doing some of it already. At the moment I do not have too much time but there are some other good related infos around:

1. a little bit in: 'pmullin86' thread what he means at the first post:

4) For pull back orders 1 hour 30 minute and 15 minute must be
overbought or oversold or 15 and 5 must be pulling back together
to snap back and meet higher time frame stochastics.

2. much more related and Spud was mentioning that thread also:
bringin sexy back - stochastics
http://www.forexfactory.com/showthread.php?t=13321

3. even though this is not a stoch thread: but it relates and might be of
interest: If you look at the continuation patterns

4 Hour Strategy (MACD)

http://www.forexfactory.com/showthread.php?t=14630


___________

personally and as Spud shared it: I like to play Elastic pull-backs against the 100,1,3 stoch - or/and smaller TF against HT with same stoch settings.

But as always past data charts are so much easier to interprete than live candles.



I also have to learn to trade higher TF's!

Well, higher TF's have advantages but also disadvantages.

Where as the daily average for EURUSD is about 100-150 pips if you would add up every 12 ips move in any direction I guess you would get a daily move of nearly 400-800 pips. ( I did add it up a couple of times using something like a small zigzag setting - maybe renko bars would make it more easy to do that)

At the moment I got a bit sidetracked with some of the new stuff. But I still want to test it out.



You would love to play the 15min chart idealy if you see it but the horror that keeps you waiting so long..

And than the big stops: I realy hate!

Well, on that point I disagree. In comparison I guess the SL is probably smaller than on Lower TF.

But one thing Spud pointed out so well and has stuck with me quite strongly.

Lower TF build the higher. (Maybe the ideal case of what you want to achieve is the basic concept of Spud's Escalator to Pips.

Some of your pics you mentioned on pmullin86 thread where like that and reminded me of it when I looked at it ad your comments.)

In general my own trading mentality is more suitable for LW TF like 5min - but I want to give the Higher a try because of some of the reason I pointed out in the post 1-3
__Thanks__ MJ
  • #27
  • Mar 23, 2011 2:43am Mar 23, 2011 2:43am
Maybe some small additions:
1.
in spuds later teaching a Elastic setup was basically when the Stoch 100,3,3 was at the opposite side of the MainLine Stoch 14,1,1 (14,3,3) and the MainLine Stoch was moving towards the 100,3,3

2.
If you check the MACD continuation patterns adn when it comes towards the 0 line but bounces back off (if you plot also some stochs you will see it very easily too.

If you study it there are different Stoch formations which are interesting: but as always much easier to see in the ready charts
Attached Image
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  • #28
  • Edited 6:16am Mar 23, 2011 4:46am | Edited 6:16am
Deleted..
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  • #29
  • Edited 6:12am Mar 23, 2011 4:50am | Edited 6:12am
Other twist is this Stochastics settings; still not sure to choose between (5,1,3) and (14,1,3) perheps also mention the (8,1,3)..

I like the speed of the (5,1,3) but on the other hand I'm not sure what most of the traders are looking at. I often got this feeling things just got running when the (14,1,3) figures fall in place..
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  • #30
  • Mar 23, 2011 5:46am Mar 23, 2011 5:46am
If you read Spud, he seems to have started first with lower Stoch settings and settle later for the 14,1,1(14,3,3)

But on some most simplistic backtest with single TF breaking overbought/oversold area: the lower settings where more profitable: mostly because of having so many more trades (which of course is not true in a MTF setting.)

When I started with Spuds thread I also found that too much filtering was beneficial as one get's in often too late (again a bit of a problem of the very short TF)
Also a bit of the traders urge to get each full move from the Peaks/Low to High.



My advise to you would be: Stick firstly with what you have used till now (Otherwise you will have to stop temporarly trading as I more or less do at the moment) and add additionally the 14 MTF layer.

As you backtest and forward trade as usually you will automatically see if one is preferable.

Danger of course is that you keep both and have even more filtering (for good or bad


I actually like instead of the 14,1,3 better the 10,1,5 ( it is quite similar but I find it a bit smother (with all advantages and disadvantages of this)
__Thanks__ MJ
  • #31
  • Mar 23, 2011 6:17am Mar 23, 2011 6:17am
Quoting M_j
2.
If you check the MACD continuation patterns adn when it comes towards the 0 line but bounces back off (if you plot also some stochs you will see it very easily too.
Do you mean when the Histogram(OsMA) gets 0(zero)?

Very intresting stuff; I'll have to study some on this later on!

Will aslo give some more meaningfull reply on the other comments later.

I also have this difficulties finding good entrance on the 5min chart. I just added the 1min chart for some clearer picture. I think when I go back to scalping it must be an easy job seeing ropes on bigger TF's. Its this situations price is likely to follow and bounce nicely of EMA's. I should have known this some months ago when I was still scalping 1min only..

I wanted to bury this 1min chart but I'm not so sure anymore; its this twist in me still..

Will defenately read back some more about this Elestic setups as it sounds very nice. It looks a bit like my own defenition of playing the 5min back to were it came from when it quickly bounces to other side on little price change..
Life is great!!
  • #32
  • Mar 23, 2011 6:20am Mar 23, 2011 6:20am
deleted
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  • #33
  • Mar 23, 2011 6:21am Mar 23, 2011 6:21am
RED


2.
If you check the MACD continuation patterns adn when it comes towards the 0 line but bounces back off (if you plot also some stochs you will see it very easily too.

Do you mean when the Histogram(OsMA) gets 0(zero)?

I'm not exactely sure what's the difference between the OsMA and the MACD.

I attach the one I use: MACD_Colored_v1.07.mq4

If you look in Spud's thread a view pages back you will see a big chart where I was playing a lot with MACD: different one as I used the new MT5 for testing.
Mostly adding the MACD will give similar pictures (still worthy excerise especially if one reads more on the H4 MACD thread and understand it from a Stochastic perspective)

As this is a recent development play I'm still not sure how useful it is in the end as much information also overlaps and I 'Try' to simplify my charts.

Did not finally decide on it but I would at least recommend some exercise with it.




Very intresting stuff; I'll have to study some on this later on!

Will aslo give some more meaningfull reply on the other comments later.

I also have this difficulties finding good entrance on the 5min chart. I just added the 1min chart for some clearer picture.

I still see much value in the M1 (maybe not so much in the higher TF test I try to do)
I played quite a lot around with it. Danger of course is to get in too early or out too early.

One of my main objectives was/and might be again to rid the M1 stoch 100,3,3 from one side to the other. ( watch it together with M5 and M15 there are many interesting scenarios)


I think when I go back to scalping it must be an easy job seeing ropes on bigger TF's.

No, I do not believe anything will be really easy: but it might be beneficial



Its this situations price is likely to follow and bounce nicely of EMA's. I should have known this some months ago when I was still scalping 1min only..

I wanted to bury this 1min chart but I'm not so sure anymore; its this twist in me still..

After my new test I might also go back to it: but there are still some real difficulties which Higher TF partially eliminates like:
- good time to decide more carefully of SL, TP and general Entry decisions
- Spread cost in relation to anticipated TP (by 2 - 12 pips the spread cost are still adding up also your commission)
- Problem of M1: often the SL must be too far away in relation to TP to achive a high enough success rate because of the price noise)


Will defenately read back some more about this Elestic setups as it sounds very nice.

It's this argument of entering at the Low and rid it all the way up against taking a established long term situation and bet on it's continuation (especially in Higher TF's)

Both have advantages
as one enters into a trend change right at the start:
( the real big once with a real Escalator to Pip movement - but who knows it before hand

might be a bit related to read: http://www.forexfactory.com/showthread.php?t=108544

'The original idea behind this thread, a good trader said to me that the first retracement is the best trade. The first higher low/lower high.'



BTW: this all ideas with Full moves and Elastic and general trends is a bit more difficult:

e.g. very often a full M1 100,3,3 move to the opposite side is also a nice Elastic on M15.


I did recently do some more thinking about trend and did not finally settle.
BUT I guess it is more important to define it than most think as it will define also SL/TP etc, etc.

The point I mean: when is a up-move a trend on which chart TimeFrame.
So one can base SL/TP etc on that TimeFrame.



If that is not defined one might run into a problem I encountered using MTF settings (not only Stochs).

If you use enough TF's you will find always one which will support your inclination ( I found that to be some kind of problem)

Also something I try to find a more satisfying solution in my Higher TF test.






It looks a bit like my own defenition of playing the 5min back to were it came from when it quickly bounces to other side on little price change..
Attached File(s)
File Type: mq4 MACD_Colored_v1.07.mq4   4 KB | 222 downloads
__Thanks__ MJ
  • #34
  • Mar 23, 2011 7:56am Mar 23, 2011 7:56am
The Histogram(bottom figure) messures the difference between fast and slow line; its the same as the OsMa(top and bottom figure). If OsMA is at 0.00 Lecel: the lines are crossing!

The color bars in your colored MACD messures the difference between the fast line and the 0.00 Level(middle figure)!

Look at the divergence on the OsMa(Histogram) while you don't see anything on the color MACD. Not sure if it materializes though..
Attached Image (click to enlarge)
Click to Enlarge Name: macd.jpg Size: 289 KB
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  • #35
  • Mar 23, 2011 8:00am Mar 23, 2011 8:00am
Not sure..

You see colorchange by now on the Color MACD, confirming the the darker red colors on the OsMA figure.

Perhaps its jusefull to use together; will study this somewhat as well..
Attached Image (click to enlarge)
Click to Enlarge Name: macd2.jpg Size: 287 KB
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  • #36
  • Mar 23, 2011 8:03am Mar 23, 2011 8:03am
BTW I played for the MACD with different wsettings but found the one from H4 MACD thread most useful: Spud had also one test thread with the color MACD

http://www.forexfactory.com/showthread.php?t=130020
__Thanks__ MJ
  • #37
  • Mar 23, 2011 8:15am Mar 23, 2011 8:15am
Its not quite the Elastic trading you mean but here you go with some of my ideas on the 5min Stoch.
Watch the difference between the slow and fast lines and how it materializes with the current trend from bigger TF's.
I have to incorperate more lines, like the (100,1,3) as well to make a better picture of the story(and read more of it in the treath)..
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 210211 eur.jpg Size: 329 KB
Click to Enlarge Name: 210211 eur2.jpg Size: 330 KB
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  • #38
  • Mar 23, 2011 8:25am Mar 23, 2011 8:25am
Oh dear, I have so many idea's still left in my head..

I hope this will stop soon so I can hold on to just 1 strategy and play like this for the rest of my life!

You know this feeling?
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  • #39
  • Mar 23, 2011 9:18am Mar 23, 2011 9:18am
Quoting despichtt
Oh dear, I have so many idea's still left in my head..

I hope this will stop soon so I can hold on to just 1 strategy and play like this for the rest of my life!

You know this feeling?
Yes. Many ideas.

But on the bottom line the question is does it pay for the invested time ?

As important as it is to improve and learn all the time as well as to adjust to possible new situations, many traders have a strength search for always the 'new unknown idealistic idea'.

So, I'm unsure you would definitely stick with a working strategy.

But probably it would be best.

Nevertheless, I take at times some trading breaks (or partial breaks) to try something new (like at the moment) or try to improve some existing stuff.
__Thanks__ MJ
  • #40
  • Mar 23, 2011 9:39am Mar 23, 2011 9:39am
Quoting M_j
So, I'm unsure you would definitely stick with a working strategy.

I will defenately stop searching of I feel toataly confident with some working system!!

But probably it would be best.

Nevertheless, I take at times some trading breaks (or partial breaks) to try something new (like at the moment) or try to improve some existing stuff.

[color=Blue]I try to do both at the same time as hate looking backwards and thinking damned.. where were you at this time of some beautifull oppotunity(the most wonderfull situations seem to...
I dont want you thinking I'm pushing you on the development of the indicator; please take your time!
But if we could make this flexible, we can make scanners of all sort of scenario's; someting like the holy grale for Stochastics.
I realize its very difficult to implement flexible formulas for calculations. If you think its very hard to implement please tell me: I will probably pay for some programmer!
It would be a dream for me to come through as I can think of many scenarios to scan for(you probably as well).
I think its of great value to share all ideas together as I'm realizing you've got lots of experience as well!
I will post all my ideas somewhere later; lets see if we can finetune some of the ideas, would be great!

Cheers mate!
Life is great!!
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