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Multiple Time Frame Stochastic trading using 1min charts

  • #1,981
  • Apr 30, 2014 3:06am Apr 30, 2014 3:06am
Quoting Rooi
{quote} Wel gedaan (well done)
dank u Rooi, its better than yesterday and the days before. Been struggling with that Stoch Color Line, i cant trade that (sorry Islander, i always admire your trading style and more, you want to teach , but that line didnt work for me), i need a cross so i putted the old stochs back in my charts and since than i am inproving again. I didn't trust my charts so then you can forget trading, its all about trust, confidence ...
  • #1,982
  • Apr 30, 2014 3:09am Apr 30, 2014 3:09am
Quoting Rooi
{quote} I see. I must work on the confidence with news. EJ this morning was much better that GU. Main reason for not trading EJ was all the news on the 2 majors of the EJ cross. All the best Rooi

I went with EJ because of the activity! - cable was looking flat, holding above its important 6800 level and you may have noticed that quite often it is either fibre or cable that move, not so often both at the same time......I was also trading UT, but that's a whole different ball-game!
Trading Levels with WRBs
  • #1,983
  • Apr 30, 2014 3:10am Apr 30, 2014 3:10am
Quoting Rooi
- 3 after 3 trades Nice 2 hours ranges of 10 pips Happier with myself in handling the range formation.Really is vitally important to manage it correctly as the trending markets take care of themselfs All the best Rooi {image}
SL at BE and you win
  • #1,984
  • Apr 30, 2014 3:11am Apr 30, 2014 3:11am
Quoting TKFOO84
Hi Islander, Can you show me the way to load the mt4 indicators in the new MT4 platform? Where did you go to download the old mt4 platform? As far as I know most brokers doesn't support the old mt4 platform anymore and the new mt4 platform gives me alot of errors when I try to load up the old mt4 indicators. Thanks! I have PM you and can you PM me the steps if you don't want to spam here TK
PM sent, but if you have problems, then ask here as there are plenty of traders who are better at this MT4 stuff than I am!......and as long as you contribute to the thread, Rooi will be happy
Trading Levels with WRBs
  • #1,985
  • Apr 30, 2014 3:13am Apr 30, 2014 3:13am
Quoting huskyboy
{quote} dank u Rooi, its better than yesterday and the days before. Been struggling with that Stoch Color Line, i cant trade that (sorry Islander, i always admire your trading style and more, you want to teach , but that line didnt work for me), i need a cross so i putted the old stochs back in my charts and since than i am inproving again. I didn't trust my charts so then you can forget trading, its all about trust, confidence ...

LOL - no problem.....its what YOU find best, we all SEE the charts differently, so go with whatever brings you green pips
Trading Levels with WRBs
  • #1,986
  • Apr 30, 2014 3:17am Apr 30, 2014 3:17am
Quoting huskyboy
{quote} SL at BE and you win
I looked at it many times and for me its better to only close trade if opposite signal presents itself.Otherwise Im looking to re-enter the whole time as my 1st TP is small

This might change in future

Thanks for the suggestion

We miss 100% of the shots we don't take
  • #1,987
  • Apr 30, 2014 3:23am Apr 30, 2014 3:23am
Quoting TKFOO84
Hi Islander, Can you show me the way to load the mt4 indicators in the new MT4 platform? Where did you go to download the old mt4 platform? As far as I know most brokers doesn't support the old mt4 platform anymore and the new mt4 platform gives me alot of errors when I try to load up the old mt4 indicators. Thanks! I have PM you and can you PM me the steps if you don't want to spam here TK
Quoting Islander
{quote} PM sent, but if you have problems, then ask here as there are plenty of traders who are better at this MT4 stuff than I am!......and as long as you contribute to the thread, Rooi will be happy
Hi TKFOO84

Here is a nice video to make it easy

If the indicators are not compatible with the new build that is a different story but here is how you can make sure the indicators are in the right place

Inserted Video


All the best

Rooi
We miss 100% of the shots we don't take
  • #1,988
  • Apr 30, 2014 3:28am Apr 30, 2014 3:28am
Quoting Islander
{quote} I went with EJ because of the activity! - cable was looking flat, holding above its important 6800 level and you may have noticed that quite often it is either fibre or cable that move, not so often both at the same time......I was also trading UT, but that's a whole different ball-game!

True

Sods law states that : "If you want to know which pair will move for the day then just ask Rooi to trade the other."

Still gaining the experience and learning a lot from veterans like yourself,Strada and Punisher. a

Have a good day

Rooi
We miss 100% of the shots we don't take
  • #1,989
  • Apr 30, 2014 3:37am Apr 30, 2014 3:37am
Quoting Rooi
{quote} I looked at it many times and for me its better to only close trade if opposite signal presents itself.Otherwise Im looking to re-enter the whole time as my 1st TP is small This might change in future Thanks for the suggestion

out at BE is a good trade. Dont overtrade !

Too my job now, tomorrow and Friday are holidays in Belgium, so i am not sure off trading. See you guys
  • #1,990
  • Apr 30, 2014 7:28am Apr 30, 2014 7:28am
Quoting Rooi
{quote} True Sods law states that : "If you want to know which pair will move for the day then just ask Rooi to trade the other." Still gaining the experience and learning a lot from veterans like yourself,Strada and Punisher. a Have a good day Rooi
or or use a good currency strength meter
  • #1,991
  • May 1, 2014 12:39am May 1, 2014 12:39am
Hi Rooi and all !!

today the 1 of MAY, I will do also a holiday day, same most of Europe banks and the Chinese, , because I work hard :-)

have all a good day, hope see you all tomorrow for the NFP day!!

cheers
  • #1,992
  • May 1, 2014 12:50am May 1, 2014 12:50am
Quoting punisher
Hi Rooi and all !! today the 1 of MAY, I will do also a holiday day, same most of Europe banks and the Chinese, , because I work hard :-) have all a good day, hope see you all tomorrow for the NFP day!! cheers

See you tomorrow Mr Punisher
We miss 100% of the shots we don't take
  • #1,993
  • May 1, 2014 12:51am May 1, 2014 12:51am
Morning all

Most of Europe closed but London and the US still open

Lets see what happens
We miss 100% of the shots we don't take
  • #1,994
  • May 1, 2014 1:12am May 1, 2014 1:12am
+ 10 and happy with that.


Morning Strada ( Nice to see you around )
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We miss 100% of the shots we don't take
  • #1,995
  • May 1, 2014 1:15am May 1, 2014 1:15am
Quoting Rooi
Morning all Most of Europe closed but London and the US still open Lets see what happens
Morning Rooi, shouldn't make that much difference from now with Europe being closed, London now active.
Two Genesis trades on EJ, first got to +6 (6.36 signal), and closed at BE and second gave me an easy ride got to +11 without drawing breath so closed both TP's and finished. Suspected price would go further and test the number but my daily target was there for the taking!
Have a good day, strada.
  • #1,996
  • May 1, 2014 1:24am May 1, 2014 1:24am
Quoting strada
{quote} Morning Rooi, shouldn't make that much difference from now with Europe being closed, London now active. Two Genesis trades on EJ, first got to +6 (6.36 signal), and closed at BE and second gave me an easy ride got to +11 without drawing breath so closed both TP's and finished. Suspected price would go further and test the number but my daily target was there for the taking! Have a good day, strada.

Nice and easy this morning

I have been doing some serious back testing with bago comared to Gen and trying to work on your thought proccess

Below are the two charts for today

The Bago MA's mirror the MAtrix and the 25 ema mirrors the RSI.

So have you together with Gen1min been using the RSI as and entry checklist OR at least been very aware of it.

So once the RSI gives the final signal then we just wait for the improvement

But

It looks like you have been a lot more selective of your entries with Gen compared to Bago.Does that mean Gen is that tiny little bit better with helping to avoid the ranging?

Does your Gen and Bago line up for you on every single trade?

( Green MA is the 25 EMA and it follows the RSI closely which is of good use to me as I had the problem working with the RSI on Bago)
Attached Image (click to enlarge)
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We miss 100% of the shots we don't take
  • #1,997
  • May 1, 2014 1:28am May 1, 2014 1:28am
Quoting strada
{quote} Morning Rooi, shouldn't make that much difference from now with Europe being closed, London now active. Two Genesis trades on EJ, first got to +6 (6.36 signal), and closed at BE and second gave me an easy ride got to +11 without drawing breath so closed both TP's and finished. Suspected price would go further and test the number but my daily target was there for the taking! Have a good day, strada.
Im working on increasing my confidence with the first TP fixed at 6 and the second set to BE.Just need to learn to fight the Chop a bit better.

Thanks for your trading info
We miss 100% of the shots we don't take
  • #1,998
  • May 1, 2014 2:02am May 1, 2014 2:02am
Quoting Rooi
{quote} Nice and easy this morning I have been doing some serious back testing with bago comared to Gen and trying to work on your thought proccess Below are the two charts for today The Bago MA's mirror the MAtrix and the 25 ema mirrors the RSI. So have you together with Gen1min been using the RSI as and entry checklist OR at least been very aware of it. So once the RSI gives the final signal then we just wait for the improvement But It looks like you have been a lot more selective of your entries with Gen compared to Bago.Does that mean Gen is...
Hi Rooi, yes very often bago will produce signals at the same time as G1m, but what I found (and one of the reasons I switched to G1m) was that G1m often didn't signal trades that bago did and kept me out of many losing bago trades.
The 2 methods are similar in that they are set up to signal turns in the market so they will often mirror each other.
Re the RSI, I don't pay particular attention to it but as you know I keep bago charts alongside G1m, mainly for pricing entries/exits but also for levels and so on. I do use bago sometimes for exits when convenient, but not much else.
I'm not selective with G1m, have my rules and if signal fits then I go with it. As you say G1m definitely is better than bago during ranging.
Bago and G1m don't always line up simultaneously but they'll normally signal within a couple of bars of each other.
25MA or RSI, they're both serving much the same function, giving us confirmation, so whatever we're most comfortable we'll tend to go with. One point I'll make on "confirmation". I often see people going to extreme lengths looking for all sorts of confirmation for an entry and a line has to be drawn here because the more confirmation people want the more profitable trades they're going to miss out on. They may miss some losing trades but I'll bet they spend a lot of time sitting on their hands totally frustrated wishing they'd made the entry instead of looking for more "confirmation". If we do our homework and verify that a method is profitable then we trade it, we use the valid signals unless there is a very obvious reason not to (red news imminent etc), no ifs or buts. Then we manage our trade within our rules.
Hence ~ I'd rather be in a signaled losing trade than be out of a signaled winning trade.
Hope some of this is of some help, cheers strada.
  • #1,999
  • May 1, 2014 2:09am May 1, 2014 2:09am
Quoting strada
{quote} Hi Rooi, yes very often bago will produce signals at the same time as G1m, but what I found (and one of the reasons I switched to G1m) was that G1m often didn't signal trades that bago did and kept me out of many losing bago trades. The 2 methods are similar in that they are set up to signal turns in the market so they will often mirror each other. Re the RSI, I don't pay particular attention to it but as you know I keep bago charts alongside G1m, mainly for pricing entries/exits but also for levels and so on. I do use bago sometimes for exits when convenient, but not much else. I'm not selective with G1m, have my rules and if signal fits then I go with it. As you say G1m definitely is better than bago during ranging. Bago and G1m don't always line up simultaneously but they'll normally signal within a couple of bars of each other. 25MA or RSI, they're both serving much the same function, giving us confirmation, so whatever we're most comfortable we'll tend to go with. One point I'll make on "confirmation". I often see people going to extreme lengths looking for all sorts of confirmation for an entry and a line has to be drawn here because the more confirmation people want the more profitable trades they're going to miss out on. They may miss some losing trades but I'll bet they spend a lot of time sitting on their hands totally frustrated wishing they'd made the entry instead of looking for more "confirmation". If we do our homework and verify that a method is profitable then we trade it, we use the valid signals unless there is a very obvious reason not to (red news imminent etc), no ifs or buts. Then we manage our trade within our rules. Hence ~ I'd rather be in a signaled losing trade than be out of a signaled winning trade. Hope some of this is of some help, cheers strada.
Helps a great deal thanks.

I agree with the confirmation part

So what is happening at the moment is a great example of a scenario that often plays out after a nice move.We form this range.(Look at the chart below)

Would you have had any signals on EJ in this range if you had a higher daily target like in the past?

With bago you would have had clear long and short entries but with Gen.Where would you be sitting now with this current range on EJ?Would you have been short after the move or long back into the high or short again from the rejection of the high?

Really helpful stuff and thanks for all your time
Attached Image (click to enlarge)
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We miss 100% of the shots we don't take
  • #2,000
  • May 1, 2014 2:26am May 1, 2014 2:26am
Quoting strada
{quote} I do use bago sometimes for exits when convenient, but not much else. I'm not selective with G1m, have my rules and if signal fits then I go with it.

Do you use just the recross of the MA's for exits? Both positive and negative?

Those rules something along the lines of

Once there is a Matrix color change then wait for a 1pip improvement unless its a very big breakout and then it might be better to sit tight and wait for the RSI confirmation

But

If we become range bound like we are now then your entries seem to be a lot more aggressive to get better entries and if there was a reversal then it was a uch smaller loss or easier to get to the 6pip target (As I looked through Bago of way back I often notecied that when stuck in a range you were able to keep you losses to between - 3 and -5 which is a really excellent,were you just a lot more aggressive on entries ? )
We miss 100% of the shots we don't take
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