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Multiple Time Frame Stochastic trading using 1min charts

  • #1,721
  • Apr 8, 2014 3:39am Apr 8, 2014 3:39am
GM - knowing that the UK Mfg data was due at 8:30 gmt I took a look at cable.....two clear buy signals suggested that the data would be good - and it was .....I was in from LO as I was busy with UT from FO....gross swings shown...
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Trading Levels with WRBs
  • #1,722
  • Apr 8, 2014 5:10am Apr 8, 2014 5:10am
Picking the tops and bottoms perfectly tonight.

-3 & -10

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  • #1,723
  • Apr 8, 2014 9:32am Apr 8, 2014 9:32am
47+

Total for the week so far = 88 Pips
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Love for all; Hatred for none.
  • #1,724
  • Apr 8, 2014 10:08am Apr 8, 2014 10:08am
Quoting Kobiet
Picking the tops and bottoms perfectly tonight. -3 & -10 {image}
IF i am using those indicators which are on your screenshot, I will take 2 trades. Trade 1 is risky trade and trade 2 is very safe trade. For me to pick up the trade at top is trade 1 but again on the other side you better know that how much loss you can suffer.

Hint: Winning Pips is not important; Achieving your target is very important (For Example 4% Profit every month = 48% Every Year). Slow and Steady wins the race.
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Love for all; Hatred for none.
  • #1,725
  • Apr 8, 2014 12:34pm Apr 8, 2014 12:34pm
Quoting gkawa22
{quote} I am still amazed on how you always enter on consolidation and predicting the correct movement. I am no expert on price action nor do I claim to be but I need indicators to help me with such erratic price behavior during consolidation stages. I am wondering if you are entering on supply and demand zones and can you tell me your thought process. Even whole round numbers including PP areas I would still need some sort of confirmation. thanks
Check your latest PM.
Love for all; Hatred for none.
  • #1,726
  • Apr 8, 2014 4:24pm Apr 8, 2014 4:24pm
Quoting aahmad29
{quote} IF i am using those indicators which are on your screenshot, I will take 2 trades. Trade 1 is risky trade and trade 2 is very safe trade. For me to pick up the trade at top is trade 1 but again on the other side you better know that how much loss you can suffer. Hint: Winning Pips is not important; Achieving your target is very important (For Example 4% Profit every month = 48% Every Year). Slow and Steady wins the race. {image}
Cheers, aahmad

Overall it was just bad trading on my side. I just sat down at the computer when the first trade set up and I took it immediately, which then made me question the entry and as soon as it turned a little bit against me, I just got out. If I just put the 15 pip SL and let it run, eventually, it would've run its course, but from there I just compounded the mistake with the second trade. Patience is the holy grail of trading and I didn't respect that.

Cheers
K
  • #1,727
  • Apr 8, 2014 4:32pm Apr 8, 2014 4:32pm
Quoting aahmad29
{quote} Added second Short Position at 1.3745. Trade 1 Sell at 1.3728 Trade 2 Sell at 1.3766 Trade 3 = Sell at 1.3800 TP = 1.3728 but probably can close at 1.3750
what is your stop loss? I thought Sonic R did not advocate averaging into losing trades? I am Not being critical, just wondering what your trade plan is.
  • #1,728
  • Apr 9, 2014 12:42am Apr 9, 2014 12:42am
Morning all

My eyes are on EJ

GL

Rooi
​
We miss 100% of the shots we don't take
  • #1,729
  • Apr 9, 2014 12:56am Apr 9, 2014 12:56am
Quoting panamamike
{quote} what is your stop loss? I thought Sonic R did not advocate averaging into losing trades? I am Not being critical, just wondering what your trade plan is.
Demo Signal Testing

I am sorry; i posted my trade plan but that post was extracted and i am not informed yet why it happened.

The trade you are talking about is in testing phase and i haven't decided about the stop loss because first i wanted to verify the validity of signals. As you have seen that my First short position was at 1.3728 and second at 1.3766 and third at 1.3800. If M15 band is not followed by price action then i switched the TF to H1 and there is no more switching in TF. PA is still at upper band and if that band was not able to control the movement of PA then i will stop testing this indicator.

I am posting the chart here. If this indicator works properly then we can decide about the stop loss together.
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Love for all; Hatred for none.
  • #1,730
  • Apr 9, 2014 1:49am Apr 9, 2014 1:49am
+ 17.5

Calling it a day.

Happy pipping all

Rooi
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We miss 100% of the shots we don't take
  • #1,731
  • Apr 9, 2014 2:27am Apr 9, 2014 2:27am
Quoting Rooi
+ 17.5 Calling it a day. Happy pipping all Rooi {image}
Chop-Chop, (Ginger) Ninja style!
  • #1,732
  • Apr 9, 2014 2:32am Apr 9, 2014 2:32am
Quoting Rooi
+ 17.5 Calling it a day. Happy pipping all Rooi {image}
Good Job
Love for all; Hatred for none.
  • #1,733
  • Apr 9, 2014 3:08am Apr 9, 2014 3:08am
Quoting Kobiet
{quote} Chop-Chop, (Ginger) Ninja style!

LOL

Thanks Kobiet

Thats the nice thing about the volatility that normally comes with FO and LO,and if you are just looking for as close to 20pips as you can get a day there is no need to do anymore than 2 or 3 hours a day.

All the best

Rooi
We miss 100% of the shots we don't take
  • #1,734
  • Apr 9, 2014 3:09am Apr 9, 2014 3:09am
Quoting aahmad29
{quote} Good Job
Thanks mate

And the same to you

Rooi
We miss 100% of the shots we don't take
  • #1,735
  • Apr 9, 2014 3:42am Apr 9, 2014 3:42am
@ Trythis

Regarding the PM you sent me,here is the reply

The UltraStocchsitcs dont repaint.

It better if you ask you questions here on the forum

Rooi
We miss 100% of the shots we don't take
  • #1,736
  • Apr 9, 2014 3:46am Apr 9, 2014 3:46am
Short on EJ:

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  • #1,737
  • Apr 9, 2014 3:55am Apr 9, 2014 3:55am
Shorted EA for 12 pips.
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  • #1,738
  • Apr 9, 2014 4:03am Apr 9, 2014 4:03am
Quoting Sjr
Shorted EA for 12 pips. {image}
Well done; I got late onto the short: -7

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  • #1,739
  • Apr 9, 2014 10:18am Apr 9, 2014 10:18am
+23
Total for this week so far = 111 Pips
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Love for all; Hatred for none.
  • #1,740
  • Apr 9, 2014 10:43am Apr 9, 2014 10:43am
According to my supdem indicator 1. 3825 to 1.3864 area has been acted as resistance in near past ( March 24 and 25). Break of this area can bring more upside movement otherwise going down.
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Love for all; Hatred for none.
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