Thanks for your speedy reply Kevin. I chose a 15 pip SL which I guess is a little tight for the GU, so the next logical place would have been just below the previous low at around 27 pips SL and it would have been taken out, in fact it required a 38 pip SL to reach the upper band (I have placed a grey TMA true on the chart to indicate the TMA at the time).
My question has to be, where would you have placed the stop loss Kevin, as it was a valid trade at the time (with green stochs), or would you have not used one? If it was a valid loss...
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If you look at the example of past trades.
You would have entered at the bottom of TMA .
A 32 pip drawdown then energy release to the top.
I think only time will give you confidence to trade.You need more experience with the system to overcome that fear in the back or your head that this will not work.
Reading your thread with interest but I'm not fully understanding some aspects which I hope you can assist with and may help others.
Is it possible for you to take a screen shot immediately when you take a trade so we can follow with you where you might place a stop or take profit. If you can walk us through some live trades (demo) is ok.
As the indicators are dynamic I find it difficult to understand the full trade process as your screenshots on the 5min charts are usually 30 minutes after the trade, and when I remember my chart I don't see the same setup at that time.
Looking forward to watching you trade from the word go with a screen shot which will help alot of us viewing your thread.
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Joined May 2011
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Status: Just Call me Oli
|631 Posts
Hi Pedross,
When you say that you had 'green stoch' at the time during your Long GBP trade, do you mean green 4H or green 1H Stoch please (then I'll try to reply in more details)?
Please see the posts on the previous page and look at your chart now and you will see were I have taken the trades and were the market is now.
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Hi Kevin,
I think this is were I'm confused and hoping a live trade will help.
Post 863 USDCAD, your trade taken example was at 4.30am US EST, and your snapshot was at 5.15am US EST, but when I was looking at it around that 4.25am - 4.30am time when scanning the 4 hour was red. I can see now it is green and I understand this as the indicator is dynamic or repaints, and it looks good but at the time I did not see the trade as the 4 hour was red.
So I can see it clearly afterwards, but if you could walk us through a few trades from the start I think I will understand it more clearly.
There are three phases we are going through which lasts three weeks.
60M Mtf stoch and 240 mtf stoch
Last week we were learning how to use the 60m stoch and TMA in order to take short trades of 10and 20 or so pips profit.We made many trades this way with much success.
This week we are focusing on MOM or MOMentum trades which using the 240 stoch as a guide for trend direction and waiting for TMA to hit opposite TMA against the direction of 240 trend then the next rf signail in the direction of the 240 trend which will result in a energy release.20 to 200+ pips profits.Must use discipline and wait for trade setups.
Next week we will put it all together and mix the 60 and 240 techniques of week 1 an 2 for an all out tradeathon.Taking short and long term trades.
If you can negotiate these obsticles successfully this will be a moment of enlightenment.
I think this is were I'm confused and hoping a live trade will help.
Post 863 USDCAD, your trade taken example was at 4.30am US EST, and your snapshot was at 5.15am US EST, but when I was looking at it around that 4.25am - 4.30am time when scanning the 4 hour was red. I can see now it is green and I understand this as the indicator is dynamic or repaints, and it looks good but at the time I did not see the trade as the 4 hour was red.
So I can see it clearly afterwards, but if you could walk us through a few trades from the start I...
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I did that yesterday and today already and I am here online and will take more trades as the setups occur.
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Joined May 2011
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Status: Just Call me Oli
|631 Posts
Hi pedross,
This is my first contribution to this thread and first I'd like to thank Kevin for sharing it with us. I have refrained from posting until I had a good understanding of the rules so hopefully i'll make a good contribution rather than saying something stupid (please don't hesitate to tell me if I do).
This week Kevin is concentrating on the MOM setup and the 4H Stoch rather than the RF setup and the 1H Stoch (last week).
I think some of the confusion has risen because some people are mixing both strategies before getting to know each one properly; if I heard Kevin well, next week will be about using both to extract as much as possible from each market: making pips from the main 4H strategy in one direction (Long for example) while at the same time grabbing pips during any Short pullback using the 1H strategy.
Edit: looks like Kevin beat me to it (see his post 888 above lol)
There are three phases we are going through which lasts three weeks.
60M Mtf stoch and 240 mtf stoch
Last week we were learning how to use the 60m stoch and TMA in order to take short trades of 10and 20 or so pips profit.We made many trades this way with much success.
This week we are focusing on MOM or MOMentum trades which using the 240 stoch as a guide for trend direction and waiting for TMA to hit opposite TMA against the direction of 240 trend then the next rf signail in the direction of...
Ignored
Hi Kevin,
I've been reading the thread from the start and I understand the process you are taking us through, with the various setups, but I'm finding it difficult to have the moment of enlightment because I need to see a live trade to fully see how each phase works.
If you could do a couple of MOM tonight if they setup, and even some short term that you taught from last weeks would be great too.
Like post 883, that would have been great to watch live, if you post the screenshot straight away, then you would have been able to talk us through how you handle the drawdown and whether or when a stop would come into play and then when you take your trade of the table.
What I would like to see is as soon as you scan a setup and you take the trade on demo, post the screen and walk us through from there.
I've been reading the thread from the start and I understand the process you are taking us through, with the various setups, but I'm finding it difficult to have the moment of enlightment because I need to see a live trade to fully see how each phase works.
If you could do a couple of MOM tonight if they setup, and even some short term that you taught from last weeks would be great too.
Like post 883, that would have been great to watch live, if you post the screenshot straight away, then you would have been able to talk us through...
I am looking at usd/jpy at the moment for a sell, what do you think?
Thanks
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Hi Logic38,
This is my take on $/Yen at the moment (80.75 as I type)
1) 4H stoch are red (down): this is the most important (it favours shorts)
2) 1H stoch are green (up): if you are looking for a short term long trade then look for the price to be at the bottom of the TMA and then an UP Magenta bar for a quick 10/20 pips, possibly to the top of the TMA band.
But because of 1), I would be more inclined to look for a short setup
3) the short setup would need:
a) the price at or above the top of the TMA band
b) depending on whether you are a more conservative trader or not, you could wait for
1) a down Magenta bar
2) 1H stoch goes red (down)
or simply take the short at the TMA band. In both cases, initial Target Point would be near the bottom of the TMA at 80.57
I welcome any comment if I have got anything wrong
Kevinator 5m retracement-Live trading
