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Multiple Time Frame Stochastic trading using 1min charts

  • #1,641
  • Apr 2, 2014 7:05am Apr 2, 2014 7:05am
Hi Strada - before I even read your last two excellent posts I had started removing unnecessary clutter from my charts, so my chart posted earlier now looks like this.

I think your comments about the higher TFs ARE very relevent to 1m trading and I too know about the demands that 1m trading makes on us......especially as we get older!

I notice that you have no horizontal lines whatsoever and wondered if you would like to post your reasoning behind this choice.

Best

Islander
Attached Image (click to enlarge)
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Trading Levels with WRBs
  • #1,642
  • Apr 2, 2014 8:43am Apr 2, 2014 8:43am
Quoting Islander
Hi Strada - before I even read your last two excellent posts I had started removing unnecessary clutter from my charts, so my chart posted earlier now looks like this. I think your comments about the higher TFs ARE very relevent to 1m trading and I too know about the demands that 1m trading makes on us......especially as we get older! I notice that you have no horizontal lines whatsoever and wondered if you would like to post your reasoning behind this choice. Best Islander {image}
Hi Islander, I do keep S&R on another set of charts some of which go way back but I find now with G1m I'm more focused on the pivots which are on the G1m charts.
OR, did you mean my reasoning behind the trades you marked on your chart, happy to explain that if that's what you meant.
regards, strada.
  • #1,643
  • Apr 2, 2014 8:54am Apr 2, 2014 8:54am
Quoting strada
{quote} Hi Islander, I do keep S&R on another set of charts some of which go way back but I find now with G1m I'm more focused on the pivots which are on the G1m charts. OR, did you mean my reasoning behind the trades you marked on your chart, happy to explain that if that's what you meant. regards, strada.
I too like pivots, especially with Yen crosses, and I also tend to put on recent levels that have been support or resistance, but I didn't see any levels on that EJ chart and that was my query as to whether you prefered a naked (level-wise) chart and if so why?
Cheers, Islander
Trading Levels with WRBs
  • #1,644
  • Apr 2, 2014 9:21am Apr 2, 2014 9:21am
Hi Islander, apart from any major S&R on the other charts I'll be mindful of any levels prominent from asian session or persisting from previous day but I don't normally put them on the chart, partly due the aesthetics but more importantly they won't have too much influence on entries unless there has been very, very recent weakness at the barriers. I will occasionally use them for exits if PA stalls or fails several attempts to break. After 6am (Europe) & 7am (UK) when the forex desks are getting into full swing I don't think much of the overnight activity plays that much part in proceedings, europe and more so London will have their own agenda and they will determine the way forward so very often overnight levels get swept aside.
Of course there are times when I forget these levels and then afterwards wonder why price got stuck!!! I know what the solution is but like you suggested I prefer not to have the lines on the chart.
regards, strada.
  • #1,645
  • Apr 2, 2014 9:36am Apr 2, 2014 9:36am
Quoting strada
Hi Islander, apart from any major S&R on the other charts I'll be mindful of any levels prominent from asian session or persisting from previous day but I don't normally put them on the chart, partly due the aesthetics but more importantly they won't have too much influence on entries unless there has been very, very recent weakness at the barriers. I will occasionally use them for exits if PA stalls or fails several attempts to break. After 6am (Europe) & 7am (UK) when the forex desks are getting into full swing I don't think much of the overnight...
Thanks for that - we have soooo much information available that deciding what to leave off our charts is becoming more important - and more difficult!. I used to trade naked charts, but now go for the subjectivity that a few well chosen indicators offer.
Best, Islander
Trading Levels with WRBs
  • #1,646
  • Apr 2, 2014 9:36am Apr 2, 2014 9:36am
+24 pips more. i m on my way home from work and will post chart later.
Love for all; Hatred for none.
  • #1,647
  • Apr 2, 2014 11:38am Apr 2, 2014 11:38am
Quoting aahmad29
+24 pips more. i m on my way home from work and will post chart later.
Here it is
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Love for all; Hatred for none.
  • #1,648
  • Edited 10:55pm Apr 2, 2014 12:08pm | Edited 10:55pm
Demo Testing

Hi i know that many traders get confused with my trades because trades are not totally depends on indicators. I am testing one trading system here in FF in trading Journals with my own settings. That system is designed or presented by Capstone with name "Cutting the cord with M1 scalps" in trading Journals.

I will test this system and will post demo trading entries.

Only EU pair , Time Frame = M15

Note: There is no SL initially. You have to add multiple positions. In the given screenshot i have taken Long position at 1.3761

There are two TP

TP1 = 15 Pips
TP2 = Upper Band (blue line)

Rule for Long Entry:

When price hit lower band and there is cross up in BH-Ergodic

Rule for Short Entry:

When price hit upper band and there is cross down in BH-Ergodic


If anyone have questions, feel free to ask me and be the part of demo testing.
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Love for all; Hatred for none.
  • #1,649
  • Apr 2, 2014 2:37pm Apr 2, 2014 2:37pm
Boss is here
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Love for all; Hatred for none.
  • #1,650
  • Apr 2, 2014 3:25pm Apr 2, 2014 3:25pm
Quoting aahmad29
Boss is here {image}
lol. That is funny. LIsten. we all see things differently, even on the same chart. That is one of things that makes FX so attractive to me. Have at it! If anyone is curious how I originally traded this chart, I would be glad to show you. It is pretty self explanatory however. I traded it on M1.

I like your method aahmad, it just has more drawdown than I would like before it gets to profit.
Lord, Liar, Lunatic. Those are only 3 options to Christ's diety claim.
  • #1,651
  • Apr 2, 2014 3:48pm Apr 2, 2014 3:48pm
Quoting capstone
{quote} lol. That is funny. LIsten. we all see things differently, even on the same chart. That is one of things that makes FX so attractive to me. Have at it! If anyone is curious how I originally traded this chart, I would be glad to show you. It is pretty self explanatory however. I traded it on M1. I like your method aahmad, it just has more drawdown than I would like before it gets to profit.
I agree about drawdown. I just try to follow the SonicR method in different way. I wanted to test that how much draw down would be there. Selection of EU pair is the main reason that there is always limit of draw down because both currencies are strong.

Lets see how it works. For me, i always have capacity of 200 Pips SL otherwise i don't trade. It does not mean that i have SL=200 pips, i am talking about capacity (how much trader can afford easily).

In my normal trades, i already mentioned that if my TP=25 then SL is 50 Pips but i am doing trading successfully.
Love for all; Hatred for none.
  • #1,652
  • Apr 3, 2014 12:52am Apr 3, 2014 12:52am
Morning all

GU for me for now.Still flat though
We miss 100% of the shots we don't take
  • #1,653
  • Apr 3, 2014 1:01am Apr 3, 2014 1:01am
Quoting Rooi
Morning all GU for me for now.Still flat though
GM - I sold EJ in the 05:54 gmt bar....SL now +10

Edit: SL closed in 6:03
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Trading Levels with WRBs
  • #1,654
  • Apr 3, 2014 1:04am Apr 3, 2014 1:04am
Tonight was a perfect ore for pre-FO breakout on the yen and yen crosses. Will wait for a pull back and resumption.
  • #1,655
  • Edited 1:31am Apr 3, 2014 1:11am | Edited 1:31am
Morning, early finish today, great set-up on EY, little double top, back below DP, just above the number, G1m signal, and at this time of day just before FO these numbers often get tested. Couldn't be sure if it was going to be stop-hunting below or a more sustained move, yet to find out on that one but I have my 20+ pips for the day so closing up shop.
strada.
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  • #1,656
  • Apr 3, 2014 1:20am Apr 3, 2014 1:20am
Quoting strada
Morning, early finish today, great set-up on GY, little double top, back below DP, just above the number, G1m signal, and at this time of day just before FO these numbers often get tested. Couldn't be sure if it was going to be stop-hunting below or a more sustained move, yet to find out on that one but I have my 20+ pips for the day so closing up shop. strada. {image}

GM - snap - same idea, different contracts with the drop in UJ as the common denominator...
Trading Levels with WRBs
  • #1,657
  • Apr 3, 2014 1:47am Apr 3, 2014 1:47am
Quoting strada
Morning, early finish today, great set-up on EY, little double top, back below DP, just above the number, G1m signal, and at this time of day just before FO these numbers often get tested. Couldn't be sure if it was going to be stop-hunting below or a more sustained move, yet to find out on that one but I have my 20+ pips for the day so closing up shop. strada. {image}
Quoting Islander
{quote} GM - snap - same idea, different contracts with the drop in UJ as the common denominator...

Nicely done.

Im still scraping with GU

2 nice signals on EJ though

The two experienced traders done for the session with the rookies still fighting each other for a slice or even the crumbs of the pie
We miss 100% of the shots we don't take
  • #1,658
  • Apr 3, 2014 1:53am Apr 3, 2014 1:53am
I got bitten by my first one on EA for today.
I tried to trade in line with the bullish rainbow and the positive CCI...

Attached Image (click to enlarge)
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-10 so far
  • #1,659
  • Apr 3, 2014 2:19am Apr 3, 2014 2:19am
Quoting Jeffray
I got bitten by my first one on EA for today. I tried to trade in line with the bullish rainbow and the positive CCI... {image} -10 so far
i will ill take your word for it. Hard to tell what is going on inside the rainbow. Hope there is a pot of Gold
  • #1,660
  • Apr 3, 2014 2:19am Apr 3, 2014 2:19am
- 1.8 and a dull morning for me backing the wrong pair

1st trade -5 X 2 = -10

2nd trade +2.1 + 6.1 = 8.2 (Survived by the skin of my teeth and over eager to jump in,If I waited for the signal it would have been a better fill and less stress)

Just wanted to finish before the news roller coaster starts.

Like watching paint dry for me this morning,Have to take the good with the bad
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Rooi


PS - A bit like this,this morning
http://cdn.makeagif.com/featured/SLgKA4.gif
We miss 100% of the shots we don't take
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