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Multiple Time Frame Stochastic trading using 1min charts

  • #721
  • Edited 2:55am Feb 10, 2014 2:43am | Edited 2:55am
As I said last week, following the many posts of support I decided to continue posting, but with the following restrictions....

I will no longer reply to PMs and questions from people who do NOT support either this thread or my old thread by posting on a regular basis - I define this as 5 posts in a 2 week period. Neither will I continue repeating old information - go back and find it yourself - my current set up has been developed from my posts in the Genesis thread from ~last November, then some posts In Alien's thread and more recently here in Rooi's thread. If you want to help the thread, then make a copy of my posts and share it - I did that in both Sonic's thread and the Genesis thread......

My indicators can be found in the File Attachments ( 259 here and 1,362 in my old thread located in the blue band at the top of each page)

http://www.forexfactory.com/showthre...14628&page=230

Regards

Islander
Trading Levels with WRBs
  • #722
  • Edited 3:17am Feb 10, 2014 3:04am | Edited 3:17am
Quoting strada
{quote} . morning Rooi, yes 4-8 is good, like this morning, but the trade moved quickly and reached +6 very quickly so I was then on BE for SL and then it just kept going to about +11 so when it paused & reversed closed tp1. Similarly with tp2, went below the number to +23, paused & reversed so closed again. regards, strada.
Great way of looking at it.Taking the risk off completely before taking profits giving you a bigger TP1 and peace of mind,but as always can play out the other way as well so will be paying attention to that way of looking at it.

If a trade breaks + 6-8pips then is "always" SL to BE for you even if you let TP 1 run ?
We miss 100% of the shots we don't take
  • #723
  • Feb 10, 2014 3:16am Feb 10, 2014 3:16am
Quoting Islander
As I said last week, following the many posts of support I decided to continue posting, but with the following restrictions.... I will no longer reply to PMs and questions from people who do NOT support either this thread or my old thread by posting on a regular basis - I define this as 5 posts in a 2 week period. Neither will I continue repeating old information - go back and find it yourself -

Great point Islander.

Its very easy to find answer to anything if you know what trader posted the information.Go onto their profile and do some research about them and their post,images and files they have uploaded

I personally have read and looked through the last 1000posts that Islander have made.Ive read all Strada's post he has made on FF(more than once) and these are just the two posting here.I have gone through many traders whole profiles of all their trades and uploads because then you start to see how they solved problems that you didnt even know you had.

There is a big reason why certain traders do so well and always have profitable trades because they worked specifically on eliminating problems that they have and IF you/we/I are lucky enough they leave a pretty well documented paper/post trail of it for you to read and understand because its all good and nice them telling you what they do but you have to understand the problem before trying to understand why they use a certain solution to the problem.

Anyway - thanks to ALL the great traders that post there charts here as well as taking the time write detailed explanations FOR FREE for us guys that want to learn.

Rooi
We miss 100% of the shots we don't take
  • #724
  • Edited 3:52am Feb 10, 2014 3:27am | Edited 3:52am
Thanks Rooi - and for your PM

As I posted, I was in this earlier.....ASCTrend Arrow, BB squeeze and then look for an "allowed" entry

PS there was another signal arrow, BB Sq etc at 9:11......with GU down since 8:45....

PSS pic from research account....
Attached Image (click to enlarge)
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Trading Levels with WRBs
  • #725
  • Feb 10, 2014 5:07am Feb 10, 2014 5:07am
Had a good go for a G/Y short. Had concerns about DP and so was very aggressive with my stops, so fortunately came out slightly ahead.

Both G/Y and U/Y have had strong resistance at DP, so it doesn't look like a go at this stage.

Unfortunately passed up on EA long earlier today. So no pips so far for me today - but none given either so it's okay.

Attached Image (click to enlarge)
Click to Enlarge Name: 10.02.13 gbpjpym1 short.png Size: 121 KB
  • #726
  • Feb 10, 2014 6:34am Feb 10, 2014 6:34am
Quoting huskyboy
Rooi, Strada, wonder how you guys close a trade partially; i have tried many times reducing the size lot when closing a trade and let the rest run (tried this morning too) but it just dont work What am i doing wrong ?
Thing with partial profit taking it that with all things in trading the general idea is the same but people interpret it differently and I personally have changed the way I think about it a couple of times and will in future most probably.

You said " (tried this morning too) but it just dont work"

What do you mean by that? did the trade not work,did the 2nd TP get taken out for BE.Why would you say it didnt work.If you look at strada's trades for example he gets stopped out for BE on the second TP for 0 or maybe 1 pip and if you ask him if he the trade was successful he will say yes because his TP 1 was hit for +6 and his TP2 was taken out for BE and so protected the profit that he had.He would have liked the market to go further in his direction but he will be ok with being taken out at BE

So when deciding your exit strategy then you must look at why you pick the "split" of the TP's and then look at the targets you wan to hit and how often the SL gets hit for BE.Look at my trades this morning.My TP1 get hit for +3 and then I set my SL to -3 and so will get taken out for BE(minus commissions) and will be happy with that because the TP1 is reducing my risk on the second TP that I look for extended targets and give it a bit of room.Most people will say that way of looking at it is wrong but im happy with(for now).Each to their own

These are just some of the things you can consider when deciding.Hope this helps and if you edit your original reply and quote one of Strada's post Im sure he will take the time to answer.

Hope this helps.

Rooi
We miss 100% of the shots we don't take
  • #727
  • Feb 10, 2014 6:52am Feb 10, 2014 6:52am
Quoting huskyboy
Rooi, Strada, wonder how you guys close a trade partially; i have tried many times reducing the size lot when closing a trade and let the rest run (tried this morning too) but it just dont work What am i doing wrong ?
Hope this helps.

Inserted Video
A MOUSE THAT ROARS IS STILL NOTHING MORE THAN A MOUSE!
  • #728
  • Feb 10, 2014 7:09am Feb 10, 2014 7:09am
I bought cable in the 12:45 bar, now waiting for UJ to turn up and allow me to buy GJ....

PS another way to allow us to take partial profits is just to take 2 smaller entries.....
Trading Levels with WRBs
  • #729
  • Feb 10, 2014 7:28am Feb 10, 2014 7:28am
Quoting Islander
I bought cable in the 12:45 bar, now waiting for UJ to turn up and allow me to buy GJ.... PS another way to allow us to take partial profits is just to take 2 smaller entries.....
and it did in the 13:20 candle, so I bought GJ......
Trading Levels with WRBs
  • #730
  • Feb 10, 2014 7:40am Feb 10, 2014 7:40am
Quoting Islander
{quote} and it did in the 13:20 candle, so I bought GJ......
I was long EJ for couple but EU not working along yet.Will see how it play out.Might get back in :nerd:
We miss 100% of the shots we don't take
  • #731
  • Feb 10, 2014 7:45am Feb 10, 2014 7:45am
Quoting Rooi
{quote} I was long EJ for couple but EU not working along yet.Will see how it play out.Might get back in :nerd:
I see that the 1m € chart had a sell signal at 13:32 and now the 5m has one too, so its difficult right now for €J to rally......

Edit: just as I posted UJ started to pull back, so I closed half for +12, SL on remainder at +5
Trading Levels with WRBs
  • #732
  • Feb 10, 2014 7:52am Feb 10, 2014 7:52am
Quoting Islander
{quote} I see that the 1m € chart had a sell signal at 13:32 and now the 5m has one too, so its difficult right now for €J to rally......
Will see.UJ triple bottomed nicely and we might have a nice low formed there now.Now its the old problem of backing the EJ or GJ and I personally am not trading the bigger striding GJ sister anymore for a while as I am finding the medium striding sister (EJ) a bit more to my appetite for volatility AND only tracking only one cross because im pretty busy elsewhere.
We miss 100% of the shots we don't take
  • #733
  • Feb 10, 2014 8:04am Feb 10, 2014 8:04am
Quoting Rooi
{quote} Will see.UJ triple bottomed nicely and we might have a nice low formed there now.Now its the old problem of backing the EJ or GJ and I personally am not trading the bigger striding GJ sister anymore for a while as I am finding the medium striding sister (EJ) a bit more to my appetite for volatility AND only tracking only one cross because im pretty busy elsewhere.

closed in 13:59 bar after WRB with higher volume at "a level"

I agree about only trading one of these two European Yen Crosses.....each day provides plenty of bankable pips from either of them
Trading Levels with WRBs
  • #734
  • Feb 10, 2014 8:11am Feb 10, 2014 8:11am
Chart for GJ trades.....now sit on hands for a bit until closer to NYSE open......
Attached Image (click to enlarge)
Click to Enlarge Name: feb9 gj multi 1408.png Size: 161 KB
Trading Levels with WRBs
  • #735
  • Feb 10, 2014 8:11am Feb 10, 2014 8:11am
Quoting Islander
{quote}Edit: just as I posted UJ started to pull back, so I closed half for +12, SL on remainder at +5
Everything a little sluggish at the moment for the type of trading I like.

I got a +5 on the last EJ run after the EU pop BUT closed it all after showing weakness.

It all might just meander up from here but like I said I dont like holding a position in this market that is moving like this.
We miss 100% of the shots we don't take
  • #736
  • Feb 10, 2014 8:24am Feb 10, 2014 8:24am
Quoting Autobotsgo
Had a good go for a G/Y short.[highlight=rgb(244, 246, 249); color:rgb(0, 0, 0); font-family:verdana,helvetica,sans-serif]so fortunately came out slightly ahead.[/highlight] So no pips so far for me today - but none given either so it's okay. {image}

Nicely done.

Not giving anything away when you are "wrong" about the where it is going is always a good out come and a nice feeling.

There is always tomorrow
We miss 100% of the shots we don't take
  • #737
  • Feb 10, 2014 9:54am Feb 10, 2014 9:54am
First trade on 1M. Missed earlier entry as I was otherwise pre-occupied!

+14.

Attached Image (click to enlarge)
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A MOUSE THAT ROARS IS STILL NOTHING MORE THAN A MOUSE!
  • #738
  • Feb 10, 2014 12:18pm Feb 10, 2014 12:18pm
Quoting scarlet pipe
{quote} Hope this helps. http://www.youtube.com/watch?v=-k8GX2XU_w8
Thanks but thats just the point; that volume buttom doesn't work, i just cant change the volume.

Again thanks
  • #739
  • Feb 10, 2014 12:39pm Feb 10, 2014 12:39pm
Quoting Rooi
{quote} Thing with partial profit taking it that with all things in trading the general idea is the same but people interpret it differently and I personally have changed the way I think about it a couple of times and will in future most probably. You said " (tried this morning too) but it just dont work" What do for BE(mding.Hope this helps and if you edit your original reply and quote one of Strada's post Im sure he will take the time to answer. Hope this helps. Rooi
Thanks, no no the trade went well but i had an tp in mind 167.44 at the time i entered the trade. I wanted to close the trade partially at 40 pips and leave the rest; if i could have done so my tp would have been hit.

For the moment the only solution is like Islander says, take 2 smaller entries.

Thanks all
Attached Image (click to enlarge)
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  • #740
  • Feb 10, 2014 1:33pm Feb 10, 2014 1:33pm
Quoting huskyboy
{quote} Thanks but thats just the point; that volume buttom doesn't work, i just cant change the volume. Again thanks
If the volume button does not work t means you must have accepted the one click tool terms and conditions,
For you to be able to scale out of your positions using the volume button after you have accepted one click, you will have to click on tools on your broker platform click on Options, select Trade from the menu box and uncheck One Click trading to get you back to default settings.
Attached Image (click to enlarge)
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Let it turn and find your entry.
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