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Multiple Time Frame Stochastic trading using 1min charts

  • #521
  • Jan 30, 2014 2:26am Jan 30, 2014 2:26am
Quoting aahmad29
Mostly i do scalping by using Genesis trading system on M1. It is my part time hobby. some trades are here. {image}
Evening,
Not many scalpers here that I know of, more intra day trading using 1M charts for entry's.
How's your scalping? what sort of risk to reward are you looking for? How many pips would you scalp on a good trade?
Regards
Anthm
When you're in the land of HOPE, you're done, get out of there, WALK AWAY
  • #522
  • Jan 30, 2014 2:30am Jan 30, 2014 2:30am
Quoting anthm
{quote} I am done
Might as well catch a dip in the pool then

Inserted Video
We miss 100% of the shots we don't take
  • #523
  • Jan 30, 2014 2:49am Jan 30, 2014 2:49am
Quoting jsf
{quote} See similar approach here !! {image}
good to know - I was finding that I wanted to enter earlier, so best to update my rules....
Trading Levels with WRBs
  • #524
  • Jan 30, 2014 2:58am Jan 30, 2014 2:58am
Quoting Islander
{quote} good to know - I was finding that I wanted to enter earlier, so best to update my rules....
It would be even greater to post your rules here (as well as your indies if they are not proprietary)so us wannabe pip pirates can learn from one of the best.
Let it turn and find your entry.
  • #525
  • Jan 30, 2014 3:07am Jan 30, 2014 3:07am
Quoting panamamike
I am thinking Yen weakness between now and NYO tomorrow.
Hi Mike.

Hope all is well.


What you think about Yen for the rest of the week
We miss 100% of the shots we don't take
  • #526
  • Jan 30, 2014 3:10am Jan 30, 2014 3:10am
Quoting anthm
+ 43.9 for Frankie hour on EJ Once again playing catch up from very sad, slow, woeful Asian session, M15 Ultra stoch exited from 80 area and crossed 50 {image}
Very clinical execution, good job.
Did you enter 3 lots or one lot and scaled out?
Your screenshot is just text book example I'm saving it to the archives!
Let it turn and find your entry.
  • #527
  • Jan 30, 2014 3:27am Jan 30, 2014 3:27am
Quoting Intrepidpips
{quote} It would be even greater to post your rules here (as well as your indies if they are not proprietary)so us wannabe pip pirates can learn from one of the best.
please read up on my posts - both here and in my old thread - and you will find that info AND the comment that it remains Work In Progress......all of the indicators and my up to date settings have also been posted ......the regulars here are often posting similar entries and so its just a matter of a little work....
Trading Levels with WRBs
  • #528
  • Jan 30, 2014 3:43am Jan 30, 2014 3:43am
Quoting anthm
{quote} Evening, Not many scalpers here that I know of, more intra day trading using 1M charts for entry's. How's your scalping? what sort of risk to reward are you looking for? How many pips would you scalp on a good trade? Regards Anthm
Hi

I use Genesis rules and look for the price movement, when stoch is at 20 or 80 after that Once direction is confirmed i open multiple positions. Sometimes i also use retracement to get some pips. My target for day is only 10 to 15 pips. I am thinking to join trading for full time because contract of my job is going to end. I just get 2 0r 3 pips and close the trade and then wait to open new position. As you have seen that there was down movement from Pivot to Support so it was the best time for scalp.
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Love for all; Hatred for none.
  • #529
  • Jan 30, 2014 3:50am Jan 30, 2014 3:50am
Quoting Rooi
{quote} Thanks for sharing.Will you drop the trades on the chart next time so we can see the entries a bit better please.
Oh sorry, i place trades manually so there is no arrow pointed but next time i will post arrow manually.

Regards
Love for all; Hatred for none.
  • #530
  • Jan 30, 2014 3:52am Jan 30, 2014 3:52am
I find the BBs very useful.....wait for the 1m pinch / squeeze and then check the indys for an entry.....take care with the fake-outs as price often tests the other BB before its move after LO was typical....
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Trading Levels with WRBs
  • #531
  • Jan 30, 2014 3:55am Jan 30, 2014 3:55am
Line No.1
I wasnt shure that it is good entry so i pass it. I thought that price could reverse because of Stoch M15.
Would you enter that trade guys?

Line No.2
Short entry. Stoch M15 in OS area and Stoch M5 made cycle to OB. Exit 12 pips below entry.
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  • #532
  • Jan 30, 2014 4:27am Jan 30, 2014 4:27am
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Love for all; Hatred for none.
  • #533
  • Jan 30, 2014 4:41am Jan 30, 2014 4:41am
Quoting Intrepidpips
{quote} Very clinical execution, good job. Did you enter 3 lots or one lot and scaled out? Your screenshot is just text book example I'm saving it to the archives!

Thank you for the kind words.
Yes what ever I enter I divide it by three for different profit takes TP 1, 2 and 3, on the reverse of that if my short entry is say 139.60 and I get stopped out at 139.72 that is 12 pip but I will times that by three and I will call it a 36 pip loss. So it works both ways.
You can blame my coach
Kind regards
anthm
When you're in the land of HOPE, you're done, get out of there, WALK AWAY
  • #534
  • Jan 30, 2014 4:43am Jan 30, 2014 4:43am
Quoting aahmad29
{image}
the arrows look like Xaphod's ASCTrend indicator......interesting idea for scalping...

I was just in a small EJ buy as EU and UJ started to turn up as UJ moved out of a pinch.........
Trading Levels with WRBs
  • #535
  • Edited 5:40am Jan 30, 2014 4:47am | Edited 5:40am
Quoting iwan73
Line No.1 I wasnt shure that it is good entry so i pass it. I thought that price could reverse because of Stoch M15. Would you enter that trade guys? Line No.2 Short entry. Stoch M15 in OS area and Stoch M5 made cycle to OB. Exit 12 pips below entry. {image}
With respect the answer is in the chart , you would have done very very well if you entered. I don't play coach her on the forum one little bit however in my opinion you can not make money if you don't enter and that is an blatant fact.

Edit1:
entry 2 worked, so providing you did not have any loss for the day your doing well. (normally I take a loss and have to play catch up)

Edit2:
I have just worked out why you may not have entered that trade on the position of that Stoch position. In reference to yesterdays conversation regarding Stoch position between You, Islander and myself I think you will find in the wash up Islander said if the stoch is leaving the 20 or 80 zone he will cautiously take a trade and then once it has past the 50 he will be more comfortable and then further to this if it continues to the next 20 or 80 zone he may enter as a continuation trade and therefore at a possible reduced stake. (please Islander advise if I have this wrong).
Difficult to explain please PM if its not clear.
Once again I am not playing coach I am simply qualifying the conversation of yesterday.
When you're in the land of HOPE, you're done, get out of there, WALK AWAY
  • #536
  • Jan 30, 2014 4:52am Jan 30, 2014 4:52am
Islander, I am having difficulty trading cable. Which pairs provide the most (reliable) trades do you think? Any particular ones to avoid?

Cheers
  • #537
  • Jan 30, 2014 5:37am Jan 30, 2014 5:37am
Quoting anthm
{quote} With respect the answer is in the chart
Yes i know that this signal would pay a lot of pips. But intention of my question was different.
If we didnt know what has happened after that signal (line No.1 on my chart) can we say that it is strong entry signal or weak? Is it High Probability Trade or not?
  • #538
  • Jan 30, 2014 5:55am Jan 30, 2014 5:55am
Quoting iwan73
{quote} Yes i know that this signal would pay a lot of pips. But intention of my question was different. If we didnt know what has happened after that signal (line No.1 on my chart) can we say that it is strong entry signal or weak? Is it High Probability Trade or not?
Hi Iwan

Let me ask you like this seeing as trading is not really a team sport when we decide to enter the market we do it by our self.

Why did you put line 1 where it is ? What was the reason?

Why did you put line 2 where it is?
We miss 100% of the shots we don't take
  • #539
  • Jan 30, 2014 6:28am Jan 30, 2014 6:28am
+ 14 on EJ

Missed a lot of good trading opportunities due to other work I had to do.

Now sitting on my hands till the USD news is done
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We miss 100% of the shots we don't take
  • #540
  • Jan 30, 2014 6:46am Jan 30, 2014 6:46am
Quoting figgsey
Islander, I am having difficulty trading cable. Which pairs provide the most (reliable) trades do you think? Any particular ones to avoid? Cheers
Hi Figgsey - we all go through phases when our trading is not up to par and taking a couple of days away from the screen can work wonders.

You could change to fibre which is less volatile than cable - or you might take a look at EurAud which does seem to have nice clear moves - I have added this to my watch list. Two clear moves so far today....

Good luck

Islander
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Trading Levels with WRBs
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