Hi Kevinator,
Can you, once and for all, tell us what is the correct settings for the Stochastic indicators, whether it is 5m, 60m, 240m. There has been few settings I saw in my readings. Thanks in advance for your response.
Yes, nice USDCAD trades. However, when looking back into history, it might make more sense to use the TMATrue and a MTF Stochastic that shows the real values for each bar. In this way your hindsight will more accurately reflect the actual past circumstances.
Thanks for sharing your strategy.
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This is pure exercise and if you set your TMA value to 45 you may have a different result.
John has updated the indicators on post 765.Thank you for your comments and concerns.
Hi Kevinator,
Can you, once and for all, tell us what is the correct settings for the Stochastic indicators, whether it is 5m, 60m, 240m. There has been few settings I saw in my readings. Thanks in advance for your response.
forexforex
Ignored
We are all being brought up to speed as to what is going on.
Three strategies.
1st) 60M/Last week we focused on taking short trades for quick 10, or 20 pips.
To do this we used the 60m stoch only.We have been getting used to scanning charts for setups.Entering trades on the rf finder and exiting trades with profit.
2nd)240/ This week we are focusing on MOM or momentum trades.We are looking at the 4hr chart and buying and selling according to the direction of the 4hr stoch.When price pulls back to the top of the TMA on a down 4hr stoch we sell and vice versa.
We are doing strictly 240 this week.
3rd)60m and 240m/ Next week we put it all together and Mix the methods.We will be taking every pip that is not tied down.
Both charts are correct.........That is 100+ pips on that chart.
Lets think big and multitask....open 7 charts and get a pen and paper and begin to follow the charts around.
Write down the 7 pairs..then the direction of the 4 hr stoch and keep be aware of the direction.
Start to stalk the trades!! Something should be close to being in position every few hours.
If you trade this way you will capture the bulk of the daily trend everyday.
After all you want the trend which is the meat and throw away the bone which is the pull back.
We are not...
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Kevin,
Would you keep selling these sort of setups regardless if the 4hr stoch is in oversold territory(as is the case with gbp and euro etc) after they retrace to the top of the TMA?
OR any caution on your part when these things are extremely O/B O/S??
I know from 1st hand that sometimes the stoch can flatline around 0 or 100 and market can continue its rise or fall. Very interested to get your insight on this kevin.
Is there anyway for the retracement finder to send an alert that also tells the direction of the bar ie: up or down? I have it set to send me a text message but would be nice to know the direction also.
56 is default but 45 is more aggressive setting and will get you in more trades.
Also for everyone please take 30 mins and scroll back to middle of last month and pick MOM setups. Mark them with your line tool and count how many pips you could have made.
This will give you a better idea of the pips you can expect in the future.
The more trade setups you see the better you will get.
Each of these setups are like footballl plays in the playbook.
Just like the football players you must know your plays and be able to run your routes.
