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Multiple Time Frame Stochastic trading using 1min charts

  • #101
  • Jan 8, 2014 3:19am Jan 8, 2014 3:19am
Quoting strada
{quote} Rooi, when I take any TP1 I'll immediately reset my SL to BE (inc any spread), After that I'll just look for for other realistic SL points to improve the minimum TP2 profit. This morning on EJ once each ledge was taken out I used those lows as new TP targets then I was offered +30 giving me a total of 50 for the day so I didn't hesitate and took it. (on bago I still use the 5/12 recross, but these days when i do make a bago entry I sometimes run the trade on Gen rules if the trade is inside a Gen signalled trade). cheers strada
Thanks for the reply.You are right anything above +30 is great and no need to be too greedy and complicating things.

Regards

Rooi
We miss 100% of the shots we don't take
  • #102
  • Jan 8, 2014 3:23am Jan 8, 2014 3:23am
Quoting strada
{quote}that sort of excitement I trade oil.
If Im happy that I ironed out all the creases in this system in the next three months then I might have a look at oil and ask for a tip or two
We miss 100% of the shots we don't take
  • #103
  • Jan 8, 2014 8:20am Jan 8, 2014 8:20am
Quoting Rooi
Ended on - 9 overall {image}
Ended on +24 for the day after a not so great morning

Back for LO tomorrow
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We miss 100% of the shots we don't take
  • #104
  • Jan 9, 2014 2:46am Jan 9, 2014 2:46am
Morning Strada.

Hope you nailed the GU.

I'm -4 at the moment.

Tweaking trade management.Exit was emotional
Should have trailed my stops under the lows or just kept it below the red MA as that is my trade management plan at the moment


Will see what we can do with the rest of this LO as there is a great deal of news later today so might have to cherry pick it later if the Volatility dies down now.
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We miss 100% of the shots we don't take
  • #105
  • Edited 3:09am Jan 9, 2014 2:55am | Edited 3:09am
Morning, in this EJ trade and have taken half out at +7, other half SL at BE. Was -5 from earlier trade so now in profit marginally, main thing is it won't be a losing day. Slow morning on this.

Morning Rooi, no I didn't do GU today, did an earlier trade with EJ and stuck with that. Now looking for a finish, been here since 6.30.

Update 09.06 Closed TP2 for +20. I know there is likely more from this move but my time is up for today. Strada.
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  • #106
  • Jan 9, 2014 3:05am Jan 9, 2014 3:05am
Quoting strada
now in profit marginally, main thing is it won't be a losing day. Slow morning on this. Now looking for a finish, been here since 6.30. {image}
As long as the day is up and not down you can always consider it to be successful.Some days are just better than others.

See you tomorrow
We miss 100% of the shots we don't take
  • #107
  • Jan 9, 2014 3:13am Jan 9, 2014 3:13am
Quoting Rooi
{quote} As long as the day is up and not down you can always consider it to be successful.Some days are just better than others. See you tomorrow
Yes, you're absolutely right on that Rooi, I just don't do losing days and can't remember the last time I had one. EJ now taking off but that's OK with me, it's what's in the bank that matters.
strada.
  • #108
  • Jan 9, 2014 3:18am Jan 9, 2014 3:18am
Quoting strada
{quote} Yes, you're absolutely right on that Rooi, I just don't do losing days and can't remember the last time I had one. EJ now taking off but that's OK with me, it's what's in the bank that matters. strada.
Love that expression and view.How many years before you were able to adopt that view?
Do you have a DD limit for the day?

Trading is only in the mind really(confidence is very important in my opinion.)

PS Well done on the trade
We miss 100% of the shots we don't take
  • #109
  • Jan 9, 2014 3:40am Jan 9, 2014 3:40am
Quoting Rooi
{quote} Love that expression and view.How many years before you were able to adopt that view? Do you have a DD limit for the day? Trading is only in the mind really(confidence is very important in my opinion.) PS Well done on the trade
Hi Rooi, No set DD as such but I know when I'm in a hole and I'll switch more towards recovery mode with trades. This is one of the things I've always found with bago and I think perhaps the same with G1m (but time will tell on that), the system eventually gives you the opportunity to rcover. Sometimes it takes a while which I dislike because I don't want to be here all day, so I will occasionally resort to scalping and sniping to get back to BE+.
I've had a quick check back on some old spreadsheets and diaries and certainly in 2007/08 had very few losing days and I don't recall ever having seriously bad runs of losing days. However it has to be said that is less to do with me and almost everything to do with the good fortune I had finding bago and possibly now G1m.
regards, strada.
  • #110
  • Jan 9, 2014 3:50am Jan 9, 2014 3:50am
Quoting strada
{quote} Hi Rooi, No set DD as such but I know when I'm in a hole and I'll switch more towards recovery mode with trades. This is one of the things I've always found with bago and I think perhaps the same with G1m (but time will tell on that), the system eventually gives you the opportunity to rcover. Sometimes it takes a while which I dislike because I don't want to be here all day, so I will occasionally resort to scalping and sniping to get back to BE+. I've had a quick check back on some old spreadsheets and diaries and certainly in 2007/08 had...
I agree with you up to a point regarding it being the system and not you the trader.I tried to trade Bago with you a while back and failed miserably.I think we find what we are looking for when we look for a trading system.Some people try to find something that does not exist and so they find nothing,others find a decent system and add their knowledge and experience to make it better.Bago and Gen1min are both very well adapted to the way you want to enter the market with frequent entry opportunities and tight SL because of the fast MA's.You also have a wealth of knowledge about the Higher Time frames and market conditions.

No I think you discredit yourself a bit if you say it due to Bago and Gen.

With regards to recovery mode do you decrease lot size or is it the same for every trade and you change it every trade/day/week
We miss 100% of the shots we don't take
  • #111
  • Jan 9, 2014 4:22am Jan 9, 2014 4:22am
Quoting Rooi
{quote} With regards to recovery mode do you decrease lot size or is it the same for every trade and you change it every trade/day/week
Hello Anthm, how are you?

Thanks Rooi. Recovery mode I'll sometimes reduce stake size, but I keep the trade exit plan totally flexible. if I'm down say -20 and I have a trade sitting at +7/8 with 3 TP's I'll close all 3 and finish with +1 for the day. If however I'm down a lot more than that then I'd probably take "best" profit on TP1&2 and let 3 run but on a very tight leash, not allowing any gains to go too far back. Last resort Ill scalp it and tend to use naked charts for that or maybe C4.
I think it was Marty who said on the other thread that we have to be happy with what the market wants to give us (words to that effect) and I've always held to that. Even when I traded with a daily target I never presumed to expect it every/any day, that would be tantamount to thinking I was better than the market. And this is why I often exit trades earlier rather than later, I don't see the point in pushing a trade too hard in the belief that it may be a runner. Using the exits available on either system means you bank profits and if it is a runner then the opportunity will present itself to re-enter and take more from the move, but the important thing is that you already have profit in the bank. On the other thread I constantly see good trades with good profit going back to BE. If I allowed that to happen, I think I'd be looking for another business opportunity. Using 2 TP like you do, you'll avoid most of that fortunately. Hope some of this helps, regards, strada.
  • #112
  • Jan 9, 2014 4:32am Jan 9, 2014 4:32am
Quoting strada
{quote} you'll avoid most of that fortunately. Hope some of this helps, regards, strada.
Helps a great deal.Thanks for taking the time to write in such detail.Good to know different ways of thinking in different scenarios.

Regards

Rooi
We miss 100% of the shots we don't take
  • #113
  • Edited 6:32am Jan 9, 2014 5:35am | Edited 6:32am
Hoping to add some confidence to this trade and its direction.

Does anyone have a trigger or a set of "rules" they use regarding trading the crosses in this way?

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Update: Really hope we could see some more downward thrust on this but as there is big news out standing(20min from now) decided to close for +6.4
Will monitor and highlight future trades that line up in this way

Ended on +2.4 and will be watching the fireworks and working on some stuffs
Attached Image
We miss 100% of the shots we don't take
  • #114
  • Jan 10, 2014 2:25am Jan 10, 2014 2:25am
Morning Rooi, earlier trade on EJ. Considered exit just after Fr open if 7.02 bar had been exceeded. Have a busy day today so finished for the week.
First week of the year mainly on genesis. Pretty good, so will look over it all at the weekend and see what needs adjusting if anything.
Regards, have a good week-end, strada.
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  • #115
  • Edited 3:14am Jan 10, 2014 2:48am | Edited 3:14am
Morning Strada

+6 on EJ - Changed my FO and LO rules yesterday after some back testing and found that I can trade the break of the red ma WHEN we are coming from the
20 / 80 area on the 15 min stoch.(closer to the normal Gen entry)

We had the same trade in EJ

Also still running short on EJ based on my normal trade setup of MA cross forms a the signal bar and enter on the break of the the signal high or low
Also paying attention to EU and UJ direction
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Already dumped half of the EJ position at BE on the test of the low(not shown in screenshot)

Seeing what I can observe as the move continue on the 3 pairs

I am also really happy with this variation of the Gen system so far for the year as I have adapted it to fit the way I'm use to identifing trades and monitor them.

Great thing about the 1min TF is the precision you get from it by monitoring the PA up close if you know what I mean.

Always review my trading week on Sunday so I will post if I spot anything that stands out but I doubt it.

Enjoy the weekend

UPDATE : exit at BE as PA on UJ changed towards the upside according to the MA's
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We miss 100% of the shots we don't take
  • #116
  • Jan 11, 2014 12:29am Jan 11, 2014 12:29am
Quoting strada
{quote} Hello Anthm, how are you? Thanks Rooi. Recovery mode I'll sometimes reduce stake size, but I keep the trade exit plan totally flexible. if I'm down say -20 and I have a trade sitting at +7/8 with 3 TP's I'll close all 3 and finish with +1 for the day. If however I'm down a lot more than that then I'd probably take "best" profit on TP1&2 and let 3 run but on a very tight leash, not allowing any gains to go too far back. Last resort Ill scalp it and tend to use naked charts for that or maybe C4. I think it was Marty who said on the other thread...
Hi Strada
Just checking in whilst on holidays, sad I know. Definitely no trading whilst I on holidays, Looking forward to being back for full trading week on the 20th Jan.
Seems like some good trades last week.
Cheers Anthm
When you're in the land of HOPE, you're done, get out of there, WALK AWAY
  • #117
  • Edited 1:33am Jan 13, 2014 1:12am | Edited 1:33am
Morning, EJ this morning. First trade -6, 2nd close to S2 but on tight SL.

Update TP1 +7
Update TP2 = 0.
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  • #118
  • Jan 13, 2014 1:21am Jan 13, 2014 1:21am
Morning

Same trade as your second one with +3.1 in the bank and giving it some room for now on the rest.

Bit thin so far but will see what LO bring

Update TP 2 = BE
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We miss 100% of the shots we don't take
  • #119
  • Jan 13, 2014 2:25am Jan 13, 2014 2:25am
+13 on EJ
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We miss 100% of the shots we don't take
  • #120
  • Jan 13, 2014 2:33am Jan 13, 2014 2:33am
Trade 4 was above S2 but used very tight SL. Other factors also used for entry.

Update TP2 = +10. Gives +20 for the day, happy with that.
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