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Multiple time frame 24ema

  • #81
  • Oct 13, 2013 10:16am Oct 13, 2013 10:16am
NEW LOOK

Just a change in format

Using the multi time frame Stochastic you can actually overlay two time frames on one window and use the O/S O/B levels of the higher time frame to signal direction shift, this is another way to view the charts, I will observe it this week.
Attached Image (click to enlarge)
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  • #82
  • Oct 14, 2013 6:05am Oct 14, 2013 6:05am
M1 SCALPING

I'm observing the new look even in M1 and I like what I see, I've not taken any trades at all, but would have captured more than 5% this morning.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: M 1.png Size: 107 KB
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  • #83
  • Oct 14, 2013 6:09am Oct 14, 2013 6:09am
M1 OBSERVATION

Seems M1 let's one trade with smaller SL, will back-test and front-test
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  • #84
  • Oct 14, 2013 9:04am Oct 14, 2013 9:04am
GOOD ENOUGH

I see that M5 is not too shabby at all, I will proceed it's the same tactics after all just another presentation of H1 Stochastic and the current period Stochastic
Attached Image (click to enlarge)
Click to Enlarge Name: M5.png Size: 97 KB
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  • #85
  • Oct 15, 2013 8:09am Oct 15, 2013 8:09am
YESTERDAY'S RESULTS

I took a trade (Sell) off the EURUSD pair after London close, the trade immediately went against me but I was determined not to close any trade simply because the trade was looking unfavourable, I decided to cover my exposure by taking another trade from a different pair so I buy on the EURAUD pair because the H4 showed upside potential.
Looking back I see that I was blinded by the fear of loosing the EURUSD trade because the buy had not set-up and a sell was getting ready to rippen and fall into my basket.
I shut my computer went home had dinner and slept, woke up at about 2 am and found my EURAUD had been stopped out and the EURUSD was in the money but was not going to hit my TP so I closed the trade.

MORAL OF STORY

Don't take panic trades just wait for your set-ups and place your bets.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: NO MORE PANIC TRADES.png Size: 100 KB
Click to Enlarge Name: EXPECT MORE.png Size: 93 KB
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  • #86
  • Oct 15, 2013 8:15am Oct 15, 2013 8:15am
M5 ISSUES?

I've begun to see some patterns in this method of mine, seems there's the conflict of HTF direction and one has to balance that out.
Around Lo there appears to be sometimes a move counter to the HTF direction which the H1 mtf stochastic allows us to partake of, at times it is short-lived and some times it becomes the beginning of a new trend, so particular attention has to be given to the HTF especially H4.
Attached Image (click to enlarge)
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  • #87
  • Oct 15, 2013 8:27am Oct 15, 2013 8:27am
FIGHT

I took a sell in GBPUSD and was stopped out would have taken the other signals but had shifted to other pairs for signals.
He who fights and fights again lives to grab the green pips.
Just commit to taking ALL your valid signals.
Attached Image (click to enlarge)
Click to Enlarge Name: FIGHT ON.png Size: 94 KB
Let it turn and find your entry.
  • #88
  • Oct 15, 2013 8:29am Oct 15, 2013 8:29am
Quoting Intrepidpips
FIGHT I took a sell in GBPUSD and was stopped out would have taken the other signals but had shifted to other pairs for signals. He who fights and fights again lives to grab the green pips. Just commit to taking ALL your valid signals. {image}
"You will miss 100% of the shots you failed to take" -Michael Jordan
Let it turn and find your entry.
  • #89
  • Oct 15, 2013 8:41am Oct 15, 2013 8:41am
CRUNCH TIME

I am thinking 8 pips is good enough to give me my 5% (at my current leverage) but when I consider that :
I'm risking between 15 to 23 pips to get 8 pips,
and sometimes after exiting at 8 pips price coasts to 20-150 pips:
I think I have to stay longer for more pips.
To this end I have to make a distinction between trades in the HTF direction and those counter the HTF.
If a trade is counter the HTF, I might not hold on too tightly, I might exit on seeing a reversal.
On the other hand I might hold on if I see rapid momentum, and definitely if the trade is in addition in the direction of the HTF.

I took this AUDUSD trade based on my perceived weakness of the bullish run having predicted correctly and seeing price follow thru' I should have stayed on for more pip extraction.
Attached Image (click to enlarge)
Click to Enlarge Name: TAKE MORE.png Size: 91 KB
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  • #90
  • Oct 15, 2013 8:59am Oct 15, 2013 8:59am
TO HOLD ON OR NOT?

I shorted EURUSD and held for 30 pips (broker gave me 29.7) pips, I saw downside potential (from H1 view), so I was able to hold on.
With this I was able to recover yesterday and this morning's loss, and top up some more profit.
Attached Image (click to enlarge)
Click to Enlarge Name: EXPECT MUCH MORE.png Size: 86 KB
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  • #91
  • Oct 16, 2013 4:03am Oct 16, 2013 4:03am
WORK NEEDED

I observed I still need to work on my punctuality and my emotions.

i did not get up from bed like I used to with the first sound of my alarm clock instead I lazed a bit on my back, had I gotten up, and reached the office at my usual time of 6:15 am, I'd have caught the GBPUSD move earlier and ride it for 60 pips. I see that when you get on the first push of a move you are more relaxed and you quickly and safely protect your capital.

Then again as the trade was going against me, I was feeling in the dumps I could only just encourage myself with the fact that "my risk is small -10pips and I will surely take the next signal no matter the outcome of this one"
I shifted my take profit from 80 pips initially to 50, then finally to 45 pips when price started stalling.

What really helped was the knowledge that a News release was coming and it could push price but if not I only hope I don't get negative slippage.
I'd score this just average performance for being emotionally attached to the outcome of my trade.

My goal is to consistently trade without emotions, I will get there!
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: AVERAGE.png Size: 90 KB
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  • #92
  • Oct 16, 2013 12:11pm Oct 16, 2013 12:11pm
NEW RULES

I have been going thru my charts again and I see that so much pips is left on the table.
I have been fixated on the M5 charts even going to M1 to catch"early"entries.
I think I should start my day on the D1, H4 then M15 if I have missed an entry then I go down to M5 to catch a second "wave", then move back up and concentrate on the M15 TF.
It's unbelievable the opportunities just asking for the taking on the M15, the M1 and M5 subjects you to noise and uncertainty: moeover the M15 divergences are very reliable.
i just want to raise the bar in my trading and earnings.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: TELL ME Y.png Size: 90 KB
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  • #93
  • Oct 17, 2013 7:01am Oct 17, 2013 7:01am
FAKED OUT

The outcome of every single trade is not guaranteed, it may be +ve or -ve.
You only cover your exposure and place your bets.

I was sold a dummy (EURUSD) and I fell for it, but the let down was I DID NOT FIGHT BACK!
I went into panic mode and made a wrong call on the GBPUSD pair, and sustained another loss.

I want to get to the point where I trade without emotions where I don't get in the way of my trades.
Had I kept a clear head the GBPUSD trade had the potential of 80 pips instead I lost 17 before taking a late entry to make 30.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: IT HAPPENS.png Size: 85 KB
Click to Enlarge Name: WRONG CALL.png Size: 91 KB
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  • #94
  • Oct 17, 2013 8:06am Oct 17, 2013 8:06am
LATE ENTRY

I allowed the noise of the EURUSD trade to cloud my judgement.
I allowed myself to be rushed into the wrong decision.
To save the day I decided to risk another 17 pips (3rd risk for the day) and potential reward of 30 pips thank God it was met.

I NEED STERNER CONTROL OVER MY EMOTIONS
Attached Image (click to enlarge)
Click to Enlarge Name: LATE ENTRY.png Size: 95 KB
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  • #95
  • Oct 17, 2013 8:47am Oct 17, 2013 8:47am
TWEAK TWEAK

I got an idea from the EURUSD trade which I entered from the M5 time frame, i saw that the M15 did not allow the sell but the M5 did, so I thought why not curve fit the value of the 14LWMA INTO THE M5 Tf and use that on M% and M1, and I like what I see, it limits number of opportunities but reduces false signals (not eliminate).

I will observe it and front-test it to see it's value added.
Attached Image (click to enlarge)
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  • #96
  • Oct 17, 2013 10:12am Oct 17, 2013 10:12am
Hey Intrepid! Nice thread you've started here, I plan to read through it and catch up and add my input(s) where I can... Subscribed!

Keep up the good work. I like what I see so far.

I will be posting more about my method soon so please stay tuned. My computer crashed the other day and I lost all my work, so I have to recreate it now which will take some time, but I am working on it.
Please check out my blog at https://from-zero-to-hero . net
  • #97
  • Oct 18, 2013 12:11am Oct 18, 2013 12:11am
Quoting Intrepidpips
SCALPING ROCKS Yeah it does when you have the balls to take calculated risks. For now I'm basically scalping, shooting for gains of 8pips minimum which yeilds 5% returns, that gives 100% with 20 consecutive winners. My aim is to on any given day average at least 8pips +ve net. That is a piece of cake.
Yeah, scalping is fun. And I am quite confident you can average far more than 8 pips per day doing so...

Using my system, you should be able to average 50 or more pips each day with the proper trading skills. Much of the key to trading is having the discipline to follow your system and rules REGARDLESS of how you feel or what you think about the market, but I also think a big part (and maybe the missing part) of most systems is that they lack the MTF approach. Keep following MTF my friend and you will carve out a very nice road for yourself.
Please check out my blog at https://from-zero-to-hero . net
  • #98
  • Oct 18, 2013 5:41am Oct 18, 2013 5:41am
Quoting smash1820
Hey Intrepid! Nice thread you've started here, I plan to read through it and catch up and add my input(s) where I can... Subscribed! Keep up the good work. I like what I see so far. I will be posting more about my method soon so please stay tuned. My computer crashed the other day and I lost all my work, so I have to recreate it now which will take some time, but I am working on it.
So sorry to hear of that temporary set back, looking forward to getting your inputs, sure can use all the help I can get.
thanks for subscribing.
Let it turn and find your entry.
  • #99
  • Oct 18, 2013 5:50am Oct 18, 2013 5:50am
Quoting smash1820
{quote} Yeah, scalping is fun. And I am quite confident you can average far more than 8 pips per day doing so... Using my system, you should be able to average 50 or more pips each day with the proper trading skills. Much of the key to trading is having the discipline to follow your system and rules REGARDLESS of how you feel or what you think about the market, but I also think a big part (and maybe the missing part) of most systems is that they lack the MTF approach. Keep following MTF my friend and you will carve out a very nice road for yourself....
It is that place of FEELINGS where the real work is.

I look forward to your sharing your system as I think I'm done with 8 pips daily, I see that I'm leaving so many pips on the table and I can't turn back the hands of time.
Let it turn and find your entry.
  • #100
  • Oct 20, 2013 11:15am Oct 20, 2013 11:15am
TREND AND COUNTER TREND

I just can't get this out of my mind, which are my higher probability trades, what is the dominant trend/bias, why should I pitch my tent with either of the Bulls/Bears?

Taking direction from the Stochastic is great but sometimes the Stochastic would just line up with a short burst of the Bears when the Bulls have been in control and you follow the leading of the stochastic until the Bulls take over again.

In the light of this and following some of my errors, I had to think deep, then I thought again of my 24EMA.
I escalated my 24 (sorry LWMA this time) to my H8 and curve fitted it down the lower TFs.
So what I came up with is 48LWMA in H4 and the MTF MA indicator did the curve fitting for me, just only had to multiply 24 by 2 to get H4 x 2 = H8.
i retained the 14LWMA from H1 downwards to serve as a filter but still tweaking the Stochastic to obtain the line of best fit. (That's why i don't have a template for this approach yet)

This should ease some the decision making process a lot!
Attached Image(s) (click to enlarge)
Click to Enlarge Name: TREND & COUNTER H4.png Size: 144 KB
Click to Enlarge Name: TREND & COUNTER LTF.png Size: 120 KB
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