Just got burned on GJ... -12 pips
Multiple Time Frame Stochastic trading using 1min charts
- #683
- Feb 6, 2014 1:35am Feb 6, 2014 1:35am
- Joined Jan 2007 | Status: Trader | 11,838 Posts
Trading Levels with WRBs
- #685
- Feb 6, 2014 1:53am Feb 6, 2014 1:53am
- Joined Jan 2010 | Status: Trader | 1,448 Posts
Took 6 Pips on this GJ short... {image} Definately have to practice die Method alot! the M1 chart can be very choppyDoes someone of you guys have an advise when to start trading this System? Do you wait for the Movement and then buying or selling in the direction the Market is heading on the Breakouts?
Morning, only 1 trade today and as Panamamike says it's all a bit choppy, so giving up for the day. After TP2 exit at BE I did consider re-entering it when the signals looked OK but on each occasion there was not enough price improvement for entry. Be careful here today, it's a jungle, rate decisions look predictable but no one knows so usual twitchy PA.
strada.
strada.
{quote} How to trade the system is well documented. Personally I don't feel that having ONLY 1Min info on the chart is enough to make a trade decision. Some people do it very well that way, but days like today it is much harder. The choppiness today IMO has a lot to do with upcoming EUR and GBP rate decisions. It may stay like this until just before the announcements.
Well, I never traded the M1 chart... Maybe I need to open the System on a M5 chart as well and need more screentime.
By the way... Which Indicators do you guys prefer or are the most used with this system? MTF Stochastic v2, Stoch-MTF, Stochastic Slope ???
I just downloaded the MTF Stoch Tape indicator and applied it on the chart. And this one is showing some really different singals than the Ultra Stochastic Color indicator...
Take a look on the Screenshot here:
- #690
- Edited 3:52am Feb 6, 2014 3:39am | Edited 3:52am
Hi Jeffray, the most effective way to check the accuracy of the various stochs is to line up your chart above alongside a basic 5m chart with standard stoch set at same values (11,3,3) and compare the real-time values. Likewise with 15min. I can't speak for the colour ultra as I use only the standard ultra, but I can assure you that the standard version is spot on realtime. Don't take my word for it though, have a look at it for yourself, that way you'll have much more confidence in what you use. hope you get your charts how you like them, all the...
well, I think I have to reduce the pairs Iam currently focusing on, so my Mt4 is overfilled with charts
will also test the standard ultra.
could you be so kind and post your currently used chart?
all the best
and thanks for your help!
- #692
- Feb 6, 2014 4:24am Feb 6, 2014 4:24am
- Joined Aug 2011 | Status: Mos P from Cape to Cairo | 2,716 Posts
Let it turn and find your entry.
{quote} Thank you very much, appreciate your post! well, I think I have to reduce the pairs Iam currently focusing on, so my Mt4 is overfilled with charts
When there is a genesis signal I then refer to standard charts for pricing/entry/stops etc.
Hope this helps, strada.
PS, For your MQL file try looking into AppData/Roaming/Metaquotes and one of those telephone numbered folders should have your indies in MQL4 and further down your templates.
- #695
- Edited 11:50am Feb 6, 2014 11:18am | Edited 11:50am
- Joined Jan 2012 | Status: Is still the ginger ninja | 2,495 Posts
Well so ends the day for me with a -5
I finally after all the news and BS identified something that I might want to trade.
Ended up taking 4 trades for a total of -5.No follow through on anything.(Also not willing to take what I had as I knew we were ranging
)
I happy with the -5 as it is a small loss compared to the sh!tty PA we had today. Tomorrow will be more of the same
I found a really nice video from Mark Douglas and watched it during all the news as my rules say I can trade 15min before and after and so a great deal of afternoons leaves me with very little to trade.
Here is the link to video and for anyone who is interested in his work(I personally am a massive fan
)
Notice how old the video is but how relevant all of it still is.Really has nice ways of putting this into perspective IMHO
I know there is some longs in there and the Stochastic is red.Its done like that as part of my trade plan at the moment (Still ironing out a lot of possibilities that Im looking at as we all have our own way of looking at opportunities that present it self in different ways:nerd:blush:
See you guys for FO
Rooi
I finally after all the news and BS identified something that I might want to trade.
Ended up taking 4 trades for a total of -5.No follow through on anything.(Also not willing to take what I had as I knew we were ranging
)I happy with the -5 as it is a small loss compared to the sh!tty PA we had today. Tomorrow will be more of the same
I found a really nice video from Mark Douglas and watched it during all the news as my rules say I can trade 15min before and after and so a great deal of afternoons leaves me with very little to trade.
Here is the link to video and for anyone who is interested in his work(I personally am a massive fan
)Notice how old the video is but how relevant all of it still is.Really has nice ways of putting this into perspective IMHO
Inserted Video
I know there is some longs in there and the Stochastic is red.Its done like that as part of my trade plan at the moment (Still ironing out a lot of possibilities that Im looking at as we all have our own way of looking at opportunities that present it self in different ways:nerd:blush:
See you guys for FO
Rooi
We miss 100% of the shots we don't take
- #696
- Edited 12:07pm Feb 6, 2014 11:56am | Edited 12:07pm
Greetings. I feel the urge to post. I have been absent for a little while so a bit homeless but you guys seem to be doing similar things to me so thought I would drop in. Hope thats ok. I will share my current set up. Its a good discipline to be able to write it down and I have not done so yet. Flavours of Genesis, Three Dragons, Sonic as well as influences recently from Islander, Dmitry fx and Dr Phoenix and a few others all mixed and extracted as I like. Any way its what I am using now so there.
I work off three timeframes. M15, M5 and M1. Each uses MTF stochs (Utra Stochastics - all credits to its creators) each with three stochs, volume (Sonic) and RSI with MA's. Oh and three dragons (which are a variety of MA's and one ribbon MA). Fairly early days for this set up as I have not been trading lately. Here was a trade from this morning, prior to the news. There were better examples but this is one I took before quiting for the day.
Looking at M15 first:
The daily stoch was hugging the lower reaches and the 4H stoch was showing signs of weakening as well as price being below the MA's - reasonable probability of a down move.
Moving to M5:
Whilst the stoch had a small up move it was in an overall downtrend and critically PA failed to make new highs. Also volume was more at the top (but very thin). The H4 stoch and M15 stoch turned down from high positions, but more importantly there was a 3 dragons (all MA's sloping down) which broke from a touch of the MA ribbon I use. H1 stoch was rising so this was only ever going to be a small run.
And finally M1:
Attachment
The key was the turning of the three stochs at the higher side of the range. The green H1 stoch was an issue on this one and I will try to post a better example where it is a clear cut case but there was enough evidence here for me to short. The other factors were the volume on the up bar that then failed, the three dragons, a convincing break on the RSI and finally volume on some nice down bars. I held this until shortly before the news when I decided to close 90% of my position as I had made my numbers for the day and did not fancy the action - volume before the news was enough to send my finger to the close button. My entry and exit were not perfect but I got 19 pips here as well as similar trades on gold and GBP/AUD which gave me enough for the day.
I work off three timeframes. M15, M5 and M1. Each uses MTF stochs (Utra Stochastics - all credits to its creators) each with three stochs, volume (Sonic) and RSI with MA's. Oh and three dragons (which are a variety of MA's and one ribbon MA). Fairly early days for this set up as I have not been trading lately. Here was a trade from this morning, prior to the news. There were better examples but this is one I took before quiting for the day.
Looking at M15 first:
The daily stoch was hugging the lower reaches and the 4H stoch was showing signs of weakening as well as price being below the MA's - reasonable probability of a down move.
Moving to M5:
Whilst the stoch had a small up move it was in an overall downtrend and critically PA failed to make new highs. Also volume was more at the top (but very thin). The H4 stoch and M15 stoch turned down from high positions, but more importantly there was a 3 dragons (all MA's sloping down) which broke from a touch of the MA ribbon I use. H1 stoch was rising so this was only ever going to be a small run.
And finally M1:
Attachment
The key was the turning of the three stochs at the higher side of the range. The green H1 stoch was an issue on this one and I will try to post a better example where it is a clear cut case but there was enough evidence here for me to short. The other factors were the volume on the up bar that then failed, the three dragons, a convincing break on the RSI and finally volume on some nice down bars. I held this until shortly before the news when I decided to close 90% of my position as I had made my numbers for the day and did not fancy the action - volume before the news was enough to send my finger to the close button. My entry and exit were not perfect but I got 19 pips here as well as similar trades on gold and GBP/AUD which gave me enough for the day.
Katte, kabuto no o wo shime yo. Size doesn't matter, leverage is the killer
- #697
- Feb 6, 2014 12:31pm Feb 6, 2014 12:31pm
- Joined Jan 2012 | Status: Is still the ginger ninja | 2,495 Posts
Greetings. I feel the urge to post. I have been absent for a little while so a bit homeless but you guys seem to be doing similar things to me so thought I would drop in. Hope thats ok. .
Looking forward to seeing more.
Happy pipping to you sir
We miss 100% of the shots we don't take
- #698
- Feb 6, 2014 2:53pm Feb 6, 2014 2:53pm
- | Joined Sep 2009 | Status: Trader | 1,425 Posts
{quote} There may be, but what to do is if you have not accepted one click on your MT4,is to reduce the volume or lot size before closing the trade that way part of the trade is still on. If you have accepted one click, you may want to uninstall your platform and re-install it then when you place a trade and are prompted for one click simply decline so you can be taking advantage of scaling out of your trades. Please bear in mind the Build 600 implications on uninstalling and re-installing your MT4 platform
Will have a look in the morning
- #699
- Feb 6, 2014 3:21pm Feb 6, 2014 3:21pm
- Joined Aug 2011 | Status: Mos P from Cape to Cairo | 2,716 Posts
Let it turn and find your entry.
- #700
- Edited 2:11am Feb 7, 2014 1:07am | Edited 2:11am
Morning, short EJ, off 7am signal
update TP1 +8
update TP2 +3 chart later.
Chart below. Didn't take long signal at 7.45, SL too much.
Did consider re-entering TP2 short off 7.56 signal but again hefty SL especially just before LO. Will finish now, happy with profit for this week, look forward to next week, see you then, have a good week-end.
strada.
update TP1 +8
update TP2 +3 chart later.
Chart below. Didn't take long signal at 7.45, SL too much.
Did consider re-entering TP2 short off 7.56 signal but again hefty SL especially just before LO. Will finish now, happy with profit for this week, look forward to next week, see you then, have a good week-end.
strada.