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Multiple Time Frame Stochastic trading using 1min charts

  • #2,101
  • May 9, 2014 3:35am May 9, 2014 3:35am
I use no stops at all
When i'm in a trade i manage it by myself and if i'm wrong i close the trade.
Actually i use 2 charts to take entry decision and still with big leverage cause i love that way to trade.
I had stopped trading for a fews month and now i'm trading since 3 weeks.
And it looks like this :
Attached Image (click to enlarge)
Click to Enlarge Name: capture.png Size: 136 KB
My name is Martin... Martin Gale
  • #2,102
  • May 9, 2014 3:46am May 9, 2014 3:46am
It gave me +50% :
Attached Image (click to enlarge)
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The last trade was a risky conter trend trade
My name is Martin... Martin Gale
  • #2,103
  • May 9, 2014 4:03am May 9, 2014 4:03am
Quoting clivepackham
How do you guys treat the news events??? How much time do you give them either side of the release?? Do you leave well alone and just trade the currencies not involved?? Just to get the ball rolling I tend to not trade 30 mins before but resume about 10 mins after, in fact if its been a large differential release then I watch for a apres news trend then look for an entry with that trend. Have been looking into getting into any strong pre-news moves and holding at BE through the news on the pretext that sometimes news gets leaked to the banks and...

Hi Clive

Really just depends on the type of news.

Euro opens have there big news but nothing like unemployment number or rate decisions etc that can really whip up and down by 50pip in my opinion.

That being said.Unless Im in a decent position with a SL at BE and a bit of a buffer between current price and the BE price I will never hold a trade or get into a new trade 10 min before new news

I will take a trade 30 seconds after or even closer if the chart gives the signal-many time we move of the high of the day or other nice setups just after news.I dont trade the news or even the reaction but dont mind a decent signal with a decent well placed SL after the news

As for the currency pair I trade,I use Strada's approach of looking at the overnight action and range of either EJ or GU and also take into consideration how the pairs have been behaving recently and 99.9% of the time I will stick to the pair I start trading for the morning

But like you said everyone is different
We miss 100% of the shots we don't take
  • #2,104
  • May 9, 2014 4:08am May 9, 2014 4:08am
Quoting condor666
It gave me +50% : {image} The last trade was a risky conter trend trade
Hi Condor

Thanks for taking the time to stop by and post your charts and trades but will you please drag and drop your trade on you charts so that it forms the lives from entry to exit so we can see you entries and exits on the chart and see what the indicators were showing at that time

Well done with your profit
We miss 100% of the shots we don't take
  • #2,105
  • May 9, 2014 4:24am May 9, 2014 4:24am
Quoting clivepackham
Ok heres a trade I am still in from this morning took 7.2 pips from first push now at BE and holding for bigger run, bit hopeful I guess after a good run, but you never know??? Indicator top left shows top trending pairs on 1 min and 5 min it uses the slope of a moving average. I use 100lwma for 1 min chart. It shows the steepest sloping ma so shows the top 8 trenders as I see it. I like to find the strongest trending pairs then trade those in that direction eg pullbacks or breakouts(now i've read your thread). Levels I like to trade break...
Hi Clive
Looks interesting, any chance you can post the top 8 trenders indicator? I remember favorite was after something like that?
Cheers
  • #2,106
  • May 9, 2014 4:26am May 9, 2014 4:26am
This one is the counter trend trade :
Attached Image (click to enlarge)
Click to Enlarge Name: capture.png Size: 117 KB
My name is Martin... Martin Gale
  • #2,107
  • May 9, 2014 4:32am May 9, 2014 4:32am
And here is the short i took just before the previous one :
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Click to Enlarge Name: capture.png Size: 152 KB
My name is Martin... Martin Gale
  • #2,108
  • May 9, 2014 4:37am May 9, 2014 4:37am
+ 5 and + 16

Calling it a day and a week.
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Click to Enlarge Name: 09 05 2014 T2.png Size: 45 KB
We miss 100% of the shots we don't take
  • #2,109
  • May 9, 2014 4:48am May 9, 2014 4:48am
Quoting Rooi
+ 5 and + 16 Calling it a day and a week. {image}
Nice work Rooi and I like your signature
How many pips per day/week do you aim for?
  • #2,110
  • May 9, 2014 5:13am May 9, 2014 5:13am
Quoting Rooi
+ 5 and + 16 Calling it a day and a week. {image}
Nice trading Rooi how do you play your stops???
Feel the Fear and do it anyway!!!
  • #2,111
  • May 9, 2014 5:23am May 9, 2014 5:23am
Quoting condor666
I use no stops at all When i'm in a trade i manage it by myself and if i'm wrong i close the trade. Actually i use 2 charts to take entry decision and still with big leverage cause i love that way to trade. I had stopped trading for a fews month and now i'm trading since 3 weeks. And it looks like this : {image}
Wow Condor now thats what I call trading!!!

So how do you decide enough is enough and close out a loser??? I tend to look for entries behind solid support or resistance levels as per my levels in earlier post, so as price turns away from my support I enter and put stop behind that level if I'm wrong I want out. Basically if my trade idea doesn't happen immediately don't hang around hoping just get TFO!!!

So are you trading at 1% per pip still???

Thanks for sharing I love the way you trade and would like to think I could do it too but its not that easy , demands discipline and lots of it.

Thanks again.

Hi Jonnypants will try to upload top 8 indy but having problems finding it in my indicator folder??? Maybe its becos i recently upgraded my mt4 and its put it somewhere else? Any ideas where custom indys are filed???
Feel the Fear and do it anyway!!!
  • #2,112
  • May 9, 2014 5:33am May 9, 2014 5:33am
Quoting clivepackham
Any ideas where custom indys are filed???
Hi Clive
Yes I think things changed with build 600+.......
Try File, Open data folder.... then browse to MQL4, Indicators, they should all be in there methinks...
If I was you (and other traders!) I'd zip up your extra indies etc and email them to yourself in case the PC goes t!ts up one day!
Thanks and good trading!
PS I like your signature too, thing is the fear keeps scaring the sh!t out of me....
  • #2,113
  • May 9, 2014 5:36am May 9, 2014 5:36am
Yes i still use the 1% per pip rule cause that's how i love trading.
For the loser it's really simple, if i get a signal in the opposite direction that means that i'm must stop my trade.
For the new folder it's here :
C:\Users\"Your windows username"\AppData\Roaming\MetaQuotes\Terminal\"a number"\MQL4\Indicators
My name is Martin... Martin Gale
  • #2,114
  • May 9, 2014 5:52am May 9, 2014 5:52am
I forgot a little rule that i apply :
if i'm in a short, even i think prices could go lower, i close my trade early with only a little profit like 5 pips.
So to achieve my daily objective i need just 4 trades.
That gives 20% daily -> 100% weekly -> account X 1000 in just 10 weeks.
My name is Martin... Martin Gale
  • #2,115
  • May 9, 2014 6:29am May 9, 2014 6:29am
(applause) - you only need to make 3-5 pips a day from say the 6 major pairs. Do that regularly and you've got it made.
  • #2,116
  • May 9, 2014 6:39am May 9, 2014 6:39am
Quoting handy148
(applause) - you only need to make 3-5 pips a day from say the 6 major pairs. Do that regularly and you've got it made.
Actually i trade only eurjpy.
My name is Martin... Martin Gale
  • #2,117
  • May 9, 2014 6:47am May 9, 2014 6:47am
Quoting jonnypants
{quote} Nice work Rooi and I like your signature How many pips per day/week do you aim for?
I try and get to as close to 100pips for the week as I can but dont like to force it to hard.If I feel the market is doing what I like it to do then I just wont trade.Still working on it as there is almost 99% of the time a decent opportunity during FO and LO

How about you?
We miss 100% of the shots we don't take
  • #2,118
  • May 9, 2014 6:49am May 9, 2014 6:49am
Quoting clivepackham
{quote} Nice trading Rooi how do you play your stops???
Above the most recent high but when I do my planning I always factor in a SL of 15pips X 2 positions

How about you
We miss 100% of the shots we don't take
  • #2,119
  • May 9, 2014 10:25am May 9, 2014 10:25am
Quoting clivepackham
. I like to find the strongest trending pairs then trade those in that direction eg pullbacks or breakouts(now i've read your thread). Levels I like to trade break and retest on are. 200sma 25 levels Daily pivots Yesterdays high,low and close price. (yellow lines on my chart) If you look on attached chart theres a couple of prime examples of B&R 141.75 level also yesterdays close very adjacent to it, 200 sma (blue ma). Very basically I identify a strong trending pair from top 8 trenders then wait for a break and retest of above levels.
Hi Clive very much like your style and I'm trying to incorporate some of your technique into my trading.
For me it's the 360 linear weighted moving average, instead of 200sma, the idea is 1440 candles in one day and dived by 4 quarters, I've struggled with including the 25 lwma which is realy the 5lwma in M5 time frame.

I've thrown away the MTF Stochastic as I couldn't cope with it's up and down dancing with the market fluctuations and adopted the Linear Regression Slope, but trying out your CCI 210 which is CCI 14 in M15 time frame, I'm preferring the 360 period still. so I'd watch which would be more reliable the LRS or the CCI? (for me).
I hope you will stick around as I'd like to see you pick those breaks and retests and mark your charts with entry and exits, also please upload the 8 top trending indy or if you cant just give the name meanwhile and we could do a Google search on FF or Forex-TSD.

Thanks for coming on board.
Let it turn and find your entry.
  • #2,120
  • May 9, 2014 10:40am May 9, 2014 10:40am
Quoting condor666
I forgot a little rule that i apply : if i'm in a short, even i think prices could go lower, i close my trade early with only a little profit like 5 pips. So to achieve my daily objective i need just 4 trades. That gives 20% daily -> 100% weekly -> account X 1000 in just 10 weeks.
I wonder why you would close your trade early with only a little profit like 5 pips when you think price could go lower when you are in a short, why not ride the trend when momentum is on your side?

I'm considering high leverage, low risk and high reward, so hope to learn from you.
Let it turn and find your entry.
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