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Multiple Time Frame Stochastic trading using 1min charts

  • #321
  • Jan 26, 2014 7:46pm Jan 26, 2014 7:46pm
Quoting panamamike
{quote} What part of managing them? Letting them run too far? Compounding them by trying to "get it back"? Or not being patient for clean setups?
Yes all of the above, I have a tendency to over trade so I will take more risky signals than perhaps others would which I am happy with HOWEVER I try and maintain a discipline of getting out quick if I recognize its not working and a lot of the time I am slow on this, and yes once in a hole I try and seek revenge on the market needless to say this never works.
Yes I am letting losers run to far before I get out.
Any suggestion?
When you're in the land of HOPE, you're done, get out of there, WALK AWAY
  • #322
  • Jan 26, 2014 8:15pm Jan 26, 2014 8:15pm
Discipline yourself to take clean setups. The odds are in your favor. At th end of the week go back and look at your clean setups. What did they do, how did they perform? Then look at the "more risky" setups that you are happy with (although I do not believe that). How did they perform.

The goal is to take the setups when the odds are in your favor. If you have fewer of them so be it, stop trading out of boredom...focus on clean setups ONLY for two weeks. Once you recognize the effect they have on your account, you can increase your risk per trade. It does not take long to build an account. If you don't develop discipline, you will slowly slip under water until you drown.

I have a strong feeling it is not the clean setups that are the problem.
  • #323
  • Jan 26, 2014 8:27pm Jan 26, 2014 8:27pm
Quoting anthm
{quote} Yes all of the above, I have a tendency to over trade so I will take more risky signals than perhaps others would which I am happy with HOWEVER I try and maintain a discipline of getting out quick if I recognize its not working and a lot of the time I am slow on this, and yes once in a hole I try and seek revenge on the market needless to say this never works. Yes I am letting losers run to far before I get out. Any suggestion?
Death by a thousand cuts. Limit yourself to perhaps 1 or 2 trades per session....I don't know if you do this full time or not. Fear of missing out etc......the point of this is not to beat oneself up for missing trades...it is to make money. Trade the first two hours of whatever session is available. If there are numbers during that time, wait for the market to settle, cycle, and look for a fresh setup.

I don;t want to take up too much of this thread with this discussion. Feel free to PM me any time.
  • #324
  • Jan 26, 2014 11:56pm Jan 26, 2014 11:56pm
Quoting panamamike
When I save as picture in MT4, the file is locked and has a picture of a lock on it. any ideas? I can see the file on my computer, but when I want to attach the file here it is not shown.

Morning panamakmike

When you save as picture the it opens it in new browser tab and gives you a url .

You can just ops the url if you like : http://www.mql5.com/en/charts/135824...apital-markets

OR

You can press alt and print screen together and the go to the Paint program and paste and save it as a jpeg or any format that FF allows.

Whole process takes less than a minute.

So you can post the url or the picture

Hope this helps.

Rooi
Attached Image(s) (click to enlarge)
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We miss 100% of the shots we don't take
  • #325
  • Jan 27, 2014 12:00am Jan 27, 2014 12:00am
Quoting anthm
Two trades for me this morning, UJ + 4.3 Bad decision to enter here late entry, too early in the day and approaching news, realized my error and did not let it turn into a loss GJ +64.2 Very fruitful and only wish it was always this easy, (last Friday morning I may add was definitely not this easy, I personally took a hit then.) Regards Anthm {image} {image}
Morning anthm.

Nearly 70 pips in the bank there!

Great trading.GJ seems nice.I dont know to much about it but am looking forward to try and trade it this week.

Are you trading London Open?

Rooi
We miss 100% of the shots we don't take
  • #326
  • Jan 27, 2014 12:05am Jan 27, 2014 12:05am
Quoting Rooi
{quote} Morning anthm. Nearly 70 pips in the bank there! Great trading.GJ seems nice.I dont know to much about it but am looking forward to try and trade it this week. Are you trading London Open? Rooi
Thanks Rooi,
Yes plan is to trade LO, very cautiously I might add in order not to give this mornings profit back.
trust you had a good weekend , the pic of the Bar B Q was great,

anthm
When you're in the land of HOPE, you're done, get out of there, WALK AWAY
  • #327
  • Jan 27, 2014 12:12am Jan 27, 2014 12:12am
Quoting anthm
{quote} Thanks Rooi, Yes plan is to trade LO, very cautiously I might add in order not to give this mornings profit back. trust you had a good weekend , the pic of the Bar B Q was great, anthm

LOL.

Yes was good.
Spent some time on the charts and got some rest.

How was your weekend?

Nice discussion you have going with Panamamike there.

If you dont mind me asking but what is your daily target?
We miss 100% of the shots we don't take
  • #328
  • Jan 27, 2014 12:27am Jan 27, 2014 12:27am
Quoting Rooi
{quote} LOL. Yes was good. Spent some time on the charts and got some rest. How was your weekend? Nice discussion you have going with Panamamike there. If you dont mind me asking but what is your daily target?
I have a daily Target of 20-30 , in view of late last years discussion on Gen thread re ten pips a day is enough etc, I feel as usual RJ rightly nailed that home for those that needed the advice i.e. myself.
After saying that I don't want to be scared to trade so if daily target is exceeded in Tokyo session I see no reason not to trade London also, (providing I have the time of coarse) I figure the profits wont come in if I am sitting on the sidelines and I also figure the 20-30 is a daily average target so need better days to compensate for lesser days. What I definitely would not have done is reentered on the Tokyo session after taking my healthy profit this morning.
Regards
Anth
When you're in the land of HOPE, you're done, get out of there, WALK AWAY
  • #329
  • Jan 27, 2014 12:34am Jan 27, 2014 12:34am
Quoting anthm
{quote} I have a daily Target of 20-30 , in view of late last years discussion on Gen thread re ten pips a day is enough etc, I feel as usual RJ rightly nailed that home for those that needed the advice i.e. myself. After saying that I don't want to be scared to trade so if daily target is exceeded in Tokyo session I see no reason not to trade London also, (providing I have the time of coarse) I figure the profits wont come in if I am sitting on the sidelines and I also figure the 20-30 is a daily average target so need better days to compensate...

I have the same target.

Your reasoning sounds very logical to me.

Lets see what FO does here.
We miss 100% of the shots we don't take
  • #330
  • Jan 27, 2014 1:13am Jan 27, 2014 1:13am
+ 14 on GJ.

UJ going up GU going down so GJ not running yet.

EJ doing better this morning
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We miss 100% of the shots we don't take
  • #331
  • Edited 1:42am Jan 27, 2014 1:29am | Edited 1:42am
GM - EU and GU down, so only allowed to trade UJ.....BB squeeze, M15 stoch remained above the 50 level.....buy in 07:00 bar and exit in
7:17 bar after matrix starts to turn red for 15 pips

Edit - towards mid FH both EU and GU turned up when their 5m matrixes went all green, so EJ and GJ became buys....
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Trading Levels with WRBs
  • #332
  • Jan 27, 2014 1:45am Jan 27, 2014 1:45am
Nice work Gents,
I gave back some of my Tokyo profit on a way way to early EU short and now not prepared to risk any more of my profit today,
chat tomorrow.
Anthm
When you're in the land of HOPE, you're done, get out of there, WALK AWAY
  • #333
  • Jan 27, 2014 2:05am Jan 27, 2014 2:05am
Quoting Islander
GM - EU and GU down, so only allowed to trade UJ.....BB squeeze, M15 stoch remained above the 50 level.....buy in 07:00 bar and exit in 7:17 bar after matrix starts to turn red for 15 pips Edit - towards mid FH both EU and GU turned up when their 5m matrixes went all green, so EJ and GJ became buys.... {image}
Nicely done on the UJ.I never trade it as I only use it to gauge the crosses.

They did line up a bit and gave a nice run.Working on the patience

Rooi
We miss 100% of the shots we don't take
  • #334
  • Jan 27, 2014 2:14am Jan 27, 2014 2:14am
+ 13 on EJ

Nice and responsive with good SL and so a good R:R

Thats me for today all though I will be here for the rest of the day.:nerd:
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We miss 100% of the shots we don't take
  • #335
  • Jan 27, 2014 2:23am Jan 27, 2014 2:23am
Quoting anthm
Nice work Gents, I gave back some of my Tokyo profit on a way way to early EU short and now not prepared to risk any more of my profit today, chat tomorrow. Anthm
Nice trading!

See you tomorow
We miss 100% of the shots we don't take
  • #336
  • Jan 27, 2014 2:25am Jan 27, 2014 2:25am
Quoting Rooi
+ 13 on EJ Nice and responsive with good SL and so a good R:R Thats me for today all though I will be here for the rest of the day.:nerd: {image}
I was in that too - a bit later as waiting for confirmation as the M15 stoch was still in the buy zone....also, GU was a buy earlier......at mid FH....
Trading Levels with WRBs
  • #337
  • Jan 27, 2014 2:30am Jan 27, 2014 2:30am
Quoting Islander
{quote} I was in that too - a bit later as waiting for confirmation as the M15 stoch was still in the buy zone....also, GU was a buy earlier......at mid FH....
We just have to watch the correlations and the patience for the exits.

I always like your opinions as they thought out rationally
We miss 100% of the shots we don't take
  • #338
  • Jan 27, 2014 2:37am Jan 27, 2014 2:37am
Quoting Islander
{quote} I was in that too - a bit later as waiting for confirmation as the M15 stoch was still in the buy zone....also, GU was a buy earlier......at mid FH....

BB squeeze, matrix turned red, stochs dropped out of buy zone, EU down and then UJ turned down too......WRB with very H Vol so exit in next bar for +24
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Trading Levels with WRBs
  • #339
  • Jan 27, 2014 2:46am Jan 27, 2014 2:46am
I've updated my 5m multi screen for my second monitor.....now M15 stoch (orchid) with Alien type 5m Green coloured stoch plus 5m matrix - easier to read the very visual signals - also ASCTrend on price chart
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Trading Levels with WRBs
  • #340
  • Edited 3:11am Jan 27, 2014 2:59am | Edited 3:11am
Quote
Islander

This is what mine looks like.

Overview on the left and trading on the right.I can change to any TF on the chart

We look at it in a very similar way all though still very different
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We miss 100% of the shots we don't take
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