Multiple Time Frame Stochastic trading using 1min charts | Page 60 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Stochastic Multiple Time Frame experience? 5 replies

Multiple Time Frame Stochastic trading using 1min charts (NEW) 329 replies

MTF Stochastic trading using 1min chart (Questions) 95 replies

Multiple Time Frame Trading: In a divergence, which frame dictates? 6 replies

Question on Lower Time Frame Indicators Vs. Longer Time Frame 7 replies

Attachments: Multiple Time Frame Stochastic trading using 1min charts
Exit Attachments

Multiple Time Frame Stochastic trading using 1min charts

  • #1,181
  • Feb 27, 2014 8:39am Feb 27, 2014 8:39am
Captain,

Quick query regarding that FO time. I know your favourite pairs..

But have you also looking at the hour before trading for other major exchanges - US, JPY? Can the method be applied to these times or possibly during hours...?
My take is that it can:
GBP/USD/EUR - LO/NY/Crossover
AUD/JPY/GMP combos - TO
USD combos i.e USDCAD - NY

Tempted to analyse further...so any thoughts appreciated....as ever.

Ta
  • #1,182
  • Feb 27, 2014 9:19am Feb 27, 2014 9:19am
Quoting Rooi
{quote} If you dont mind me asking.Do you trade full time by that I mean is that you sole income or do you have other ways of making an income as well. I seem to find more or more people that trade really well have other incomes/companies/pensions etc. How many years you been trading.Your trades do seem very constant. All the best Rooi
I don't rely on trading as an income. I've been trading forex for 2.5 years and have devoted most of my energy towards it. It has been incredibly challenging and difficult for me - which is something that I had heard when I began trading, but of course didn't think applied to me Turns out that it did. Previously traded shares, successfully, using financial models (so more fundamental than technical) albeit over longer timeframes (e.g. 6 months). I also used financial models to build index based valuations, with the intent to trade on, but that was a lower priority to forex trading and also somewhat redundant with QE messing up the global markets connection to fundamentals.

In my time with forex (and technical/systemic trading) I've spent maybe 50 hours per week (so 6500 hours?) learning. I'm still learning. My wife has named my charts 'squiggles'. It has been challenging in that I was in an accident a year and a half ago and have experienced pain since then. It does impact on concentration - but then we all have our own problems. In my time learning, I've tried 1000's of different indicators and combinations. LOL just checked and I have 1145 indicators in my MT4 and that exludes those that have been removed. I learned how to code EAs and tried that for a while - even had one which I was certain would be profitable ($1000 -> $10,000,000 in six months with 20% DD on backtest based on a solid strategy) but just couldn't make them work in all environments and gave up on them. I learned how indicator coding worked and have spent a lot of time fiddling with custom alert settings. I guess that could be an 'edge' in that I have very specific parameters that I'm waiting for before I'll even consider a trade. It remains a work in progress - but seems to constantly improve as does my trading.

My goal is to have trading income sufficient to be my prime source of income this year. I know I can do it, my only hurdle is myself and to be consistent. Mistake reduction is my prime strategy at the moment!

Sorry for the spiel. Interested to hear your story and that of anyone else willing to share?
  • #1,183
  • Feb 27, 2014 9:26am Feb 27, 2014 9:26am
Quoting Rooi
{quote} Nicely done - High five {image} Rooi
Haha Good High Five. I was so sleepy that i close my trade early at +10 otherwise it could hit my 25 pips TP but i never leave the trade unattended. In the morning i found that i missed long opportunity but it is the part of trading.

Thanks

Regards
aahmad29
Love for all; Hatred for none.
  • #1,184
  • Feb 27, 2014 9:44am Feb 27, 2014 9:44am
Quoting figgsey
Captain, Quick query regarding that FO time. I know your favourite pairs.. But have you also looking at the hour before trading for other major exchanges - US, JPY? Can the method be applied to these times or possibly during hours...? My take is that it can: GBP/USD/EUR - LO/NY/Crossover AUD/JPY/GMP combos - TO USD combos i.e USDCAD - NY Tempted to analyse further...so any thoughts appreciated....as ever. Ta

As you know, I trade around the European Opens for a couple of hours and again around the NY Opens......both of these very active times suite my own time zone which is GMT +1

Whilst I would expect my methodology - and the others being so well show here - to work during other "active periods" I have no experience with such periods.

Why not just concentrate on the two sessions as I do.....today GJ fell 170 pips from FO and later rallied 100 pips from NYO.......why do you want more??
Trading Levels with WRBs
  • #1,185
  • Edited 10:23am Feb 27, 2014 10:12am | Edited 10:23am
Another +12 pips. That was quick 20 pips opportunity but i am playing safe and slowly because i have already achieved 100 pips. I am trying to get stome pips more for next week because there could be probability of not achieving 100 pips next week.
Attached Image (click to enlarge)
Click to Enlarge Name: untitled.JPG Size: 137 KB
Love for all; Hatred for none.
  • #1,186
  • Feb 27, 2014 1:18pm Feb 27, 2014 1:18pm
I was able to manage loss. I placed sell 1 order which was running in loss of 15 pips. I placed second Sell order which works perfectly and when Net pips of both trades reached to +1 pip, i closed both trades. So net result was in +1 pips.

So far in this week i had only one loss trade which was -6 pips and all other trades is in positive.

Result for this week so far = 121 Pips

aahmad29
Attached Image (click to enlarge)
Click to Enlarge Name: untitled.JPG Size: 126 KB
Love for all; Hatred for none.
  • #1,187
  • Feb 27, 2014 1:25pm Feb 27, 2014 1:25pm
Quoting Autobotsgo
{quote} I don't rely on trading as an income. I've been trading forex for 2.5 years and have devoted most of my energy towards it. It has been incredibly challenging and difficult for me - which is something that I had heard when I began trading, but of course didn't think applied to me Turns out that it did. Previously traded shares, successfully, using financial models (so more fundamental than technical) albeit over longer timeframes (e.g. 6 months). I also used financial models to build index based valuations, with the intent to trade...
My goal is same like yours. When i started trading, i had strategy but no experience. I made $2000 in two days but then lost $3000 in one day. Aftert hat i slowly started building my equity and got confidence. My primary goal is to make the trading , main source of income. But so far i am doing trading with my another job.

aahmad29
Love for all; Hatred for none.
  • #1,188
  • Feb 27, 2014 3:21pm Feb 27, 2014 3:21pm
Quoting Islander
{quote} As you know, I trade around the European Opens for a couple of hours and again around the NY Opens......both of these very active times suite my own time zone which is GMT +1 Whilst I would expect my methodology - and the others being so well show here - to work during other "active periods" I have no experience with such periods. Why not just concentrate on the two sessions as I do.....today GJ fell 170 pips from FO and later rallied 100 pips from NYO.......why do you want more??
Thats a very good point. Over trading is to be avoided.

The reason for me checking is that if, and I am, planning to change my schedule/strategy to trade the FO, then I want to take opportunity to review my plan i.e. if TO provides better opportunities than NY, then I may move from one of my other zones. But I like your advice and stick to my current timezone (GMT) to at least try the new set up on FO before getting too ambitious. Your feedback always makes me think. Best one was (not just to me) that its best to develop own indicators/setups
  • #1,189
  • Feb 27, 2014 3:56pm Feb 27, 2014 3:56pm
Quoting Autobotsgo
{quote} I don't rely on trading as an income. I've been trading forex for 2.5 years and have devoted most of my energy towards it. It has been incredibly challenging and difficult for me - which is something that I had heard when I began trading, but of course didn't think applied to me Turns out that it did. Previously traded shares, successfully, using financial models (so more fundamental than technical) albeit over longer timeframes (e.g. 6 months). I also used financial models to build index based valuations, with the intent to trade...
Thank you

I appreciate these great life experiences. I believe as traders we have all done the same. The dream of an EA to trade for me was very far fetched. I personally been trading over 8 years and gravitated to forex from futures and found it to be quite a challenge. I didn't realize how much patience is needed to be able to trade successfully. An EA can never practice patience. At times I tend to have some bad habits deviating from my trading plan and this is when I need to check myself and ask the same questions. Why did I enter that trade? The emotionally aspect of trading is the greatest hurdle for me personally. Although profitable I still need to conquer these emotions to be ultimately successful. For those traders New and experienced I would recommend this book Trading in the Zone. It really helped me many years ago and I will read it once again.
  • #1,190
  • Feb 27, 2014 3:58pm Feb 27, 2014 3:58pm
Question to the group

I am looking for a replay feature for MT4 to practice trading on a tick by tick basis. I found an LFH expert advisor on FF however I am having problems downloading it. I could use ninja trader but Stochastics looks to be different then MT4. Not sure why this is an issue.

Has anyone tried this?

thanks
  • #1,191
  • Feb 27, 2014 7:15pm Feb 27, 2014 7:15pm
Quoting gkawa22
Question to the group I am looking for a replay feature for MT4 to practice trading on a tick by tick basis. I found an LFH expert advisor on FF however I am having problems downloading it. I could use ninja trader but Stochastics looks to be different then MT4. Not sure why this is an issue. Has anyone tried this? thanks
LFH is something that I've used many many times. Works a treat for me. Not sure if there is a better one, but haven't ever had a problem with this one.

EA
Attached File(s)
File Type: ex4 LFH_Trading_Simulator_3.ex4   30 KB | 251 downloads


Script
Attached File(s)
File Type: ex4 LFH_Simulator_Buy_Close.ex4   1 KB | 275 downloads

Attached File(s)
File Type: ex4 LFH_Simulator_Buy_Open.ex4   2 KB | 230 downloads

Attached File(s)
File Type: ex4 LFH_Simulator_Limit_Stop_Buy.ex4   2 KB | 241 downloads

Attached File(s)
File Type: ex4 LFH_Simulator_Limit_Stop_Buy_Remove.ex4   2 KB | 245 downloads

Attached File(s)
File Type: ex4 LFH_Simulator_Limit_Stop_Sell.ex4   2 KB | 254 downloads

Attached File(s)
File Type: ex4 LFH_Simulator_Limit_Stop_Sell_Remove.ex4   2 KB | 224 downloads

Attached File(s)
File Type: ex4 LFH_Simulator_Sell_Close.ex4   1 KB | 274 downloads

Attached File(s)
File Type: ex4 LFH_Simulator_Sell_Open.ex4   2 KB | 251 downloads
  • #1,192
  • Feb 27, 2014 7:17pm Feb 27, 2014 7:17pm
Quoting gkawa22
{quote} Thank you I appreciate these great life experiences. I believe as traders we have all done the same. The dream of an EA to trade for me was very far fetched. I personally been trading over 8 years and gravitated to forex from futures and found it to be quite a challenge. I didn't realize how much patience is needed to be able to trade successfully. An EA can never practice patience. At times I tend to have some bad habits deviating from my trading plan and this is when I need to check myself and ask the same questions. Why did I enter that...
Agree 100%. Patience is the key.
  • #1,193
  • Feb 27, 2014 7:20pm Feb 27, 2014 7:20pm
GY short +20.

Was away so missed signal, but entered on a spike. However, didn't have time to consider trade properly so had a messy exit - could have gone for BRN exit at +30.

Attached Image (click to enlarge)
Click to Enlarge Name: 28.02.14 gbpjpym1 short +20.png Size: 92 KB
  • #1,194
  • Feb 27, 2014 7:57pm Feb 27, 2014 7:57pm
Quoting Autobotsgo
{quote} LFH is something that I've used many many times. Works a treat for me. Not sure if there is a better one, but haven't ever had a problem with this one. EA {file} Script {file} {file} {file} {file} {file} {file} {file} {file}
Thank you so much

This will be a tremendous help to everyone including myself.
  • #1,195
  • Feb 28, 2014 12:47am Feb 28, 2014 12:47am
Quoting Autobotsgo
{quote} LFH is something that I've used many many times. Works a treat for me. Not sure if there is a better one, but haven't ever had a problem with this one. EA {file} Script {file} {file} {file} {file} {file} {file} {file} {file}

Amazing EA.

Is still use especially on weekends

Thanks for sharing.I somehow lost the buy/sell scripts.
We miss 100% of the shots we don't take
  • #1,196
  • Feb 28, 2014 12:53am Feb 28, 2014 12:53am
1st trade of the day 20 pips
Attached Image (click to enlarge)
Click to Enlarge Name: 02271401.png Size: 31 KB
  • #1,197
  • Feb 28, 2014 1:15am Feb 28, 2014 1:15am
Quoting Autobotsgo
{quote} I don't rely on trading as an income. I've been trading forex for 2.5 years .... Sorry for the spiel. Interested to hear your story and that of anyone else willing to share?

Hi AutoB

I like you have set myself the target to have my main income come from FX by the end of the year

I have been at it for a little of 2 years now. Initially I thought it would be tough but as I am the type of person who when I set my mind on something I keep going till I get it I was not to bothered.I was very very wrong about what it takes to make it in this business.I moved from London back to South-Africa and thought this is going to be my new career when I get back.Big mistake. I traded demo for 4 weeks and then funded my first live account.Needless to say I caused myself so much headache by not doing it in the correct order of first finding a good system,demo trading etc.

I spent about 4 months going at it full time and studying about 18hours a day.Trying system after system based on indicators.I got so frustrated with the indies I traded without then after that right up until when I started using this variation of the Genesis. Strada helped me a great deal with explaining how the indicators is a good measuring stick for what the PA is doing thats all. I still trade the PA and use the indicators as a guide only.Now I trade with no indicators on my my one screen and the indicators on the other.Getting the best of both I suppose.

The last hurdle is always getting from being a profitable part time/income trader to becoming a full time no other income trader.Its a lot on the mind.I am moving my whole day around and freeing up the time to trade LO without distractions.Then Im just saving a years worth of my salary in 2014 while trading the LO and then in 2015 I can trade full full time for a year without worrying to much about what I make on a day to day basis if you know what I mean.

Im also lucky as I am only 27 now and have no children for the time being and my wife has a very good job so my income only plays a small part in paying the bills.

Anyway my rant is over now and I hope and trust you will meet with success this year as I think your views and trades are really good and you have built you trading "house" on a solid foundation.

Good luck with your goals.We are all closer than we think to what we really want finding it within our self is the only way though.

All the best

Rooi
We miss 100% of the shots we don't take
  • #1,198
  • Feb 28, 2014 1:15am Feb 28, 2014 1:15am
Left this trade completely unattended. Worked perfectly fortunately.

EY short during Tokyo. +44.

Attached Image (click to enlarge)
Click to Enlarge Name: 28.02.14 eurjpym1 short +44.png Size: 98 KB
  • #1,199
  • Feb 28, 2014 1:22am Feb 28, 2014 1:22am
+15 pips. No more trade. Already achieved weekly target.

Have a happy weekend.
Attached Image (click to enlarge)
Click to Enlarge Name: untitled.JPG Size: 127 KB
Love for all; Hatred for none.
  • #1,200
  • Feb 28, 2014 1:22am Feb 28, 2014 1:22am
Quoting Autobotsgo
EY short during Tokyo. +44. {image}
Quoting aahmad29
. Result for this week so far = 121 Pips aahmad29 {image}
Quoting gkawa22
1st trade of the day 20 pips{image}

Nicely done.

I have to give my attention else where today.So might only trade later.

All the best

Rooi
We miss 100% of the shots we don't take
0 traders viewing now