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Multiple Time Frame Stochastic trading using 1min charts

  • #2,181
  • May 14, 2014 5:56am May 14, 2014 5:56am
Another good lesson to learn from you guys is to know when enough is enough and you've sucked the well dry, just stop and call it a day, otherwise it just dribbles back if youre not careful.

This is a typical quiet time for scalpers so best left alone until New Yorkers wake up I guess. I am going to really try and not trade unless price is really moving, its so much easier if the price is active, trouble is when I get bored my trigger finger gets itchy.

Maybe I could have my first rule only trade pairs when top trender score is over 50???Means the MA's sloping at about 45 degrees so the price must be moving strongly. I've always said momentum indicators , price action etc works so much better on a strong trending pair. Hmmm might try that from now on.
Feel the Fear and do it anyway!!!
  • #2,182
  • May 14, 2014 6:07am May 14, 2014 6:07am
Heres an example of what I am talking about above. GBPNZD is top of 1 min trenders with a score over 50 so 100lwma is sloping down nicely and funnily enough the pullbacks are working fine. Must be something in it???

Also look at 15min CCI my bottom indy its turned over nicely so the top 1 min CCI gives some lovely signals add that to a nice colour change on the HA candles and you've got yourself a system.

By the way mostly caused by the high differential GBP news release as per my previous post about post news trading.

Doesn't work all the time but then what does????
Attached Image (click to enlarge)
Click to Enlarge Name: example.png Size: 39 KB
Feel the Fear and do it anyway!!!
  • #2,183
  • May 14, 2014 6:17am May 14, 2014 6:17am
Quoting clivepackham
Man oh man!!! What a difference that has made to my trading today already Strata!!! Just taken 3 entries with 5 profitable TPs and one BE!!! 4.1+0+5.8+3.1+16.6+13.0= 42.6!!! And should of held the last one would be 30 odd pips up and still going but sick and tired of giving it all back!!! Next time I will let the 2nd TP ride. Early days I know but feel like its the final piece of the jig saw. Thanks strata great advice.
Thanks for that but Rooi is the one to thank here, I used to use 3 TP's but when we switched to G1m Roii was using 2 and he showed us all how beneficial that was. The 3rd TP is great on the odd occasion you get a runner, but measuring the likelihood of them happening against the additional exposure it didn't prove worthwhile.
cheers, strada
  • #2,184
  • May 14, 2014 6:31am May 14, 2014 6:31am
Quoting strada
{quote} Thanks for that but Rooi is the one to thank here, I used to use 3 TP's but when we switched to G1m Roii was using 2 and he showed us all how beneficial that was. The 3rd TP is great on the odd occasion you get a runner, but measuring the likelihood of them happening against the additional exposure it didn't prove worthwhile. cheers, strada
Thats interesting maybe theres more to this 2nd TP than first meets the eye, how about looking at strong trending daily pairs say using a 10sma so steepest sloping 10sma pair would be highly likely to run on a 1 min chart.

Market opens cause most of these 100 plus pip runs like todays examples.I've attached a chart showing top 8 trenders on Daily using a 10lwma EURAUD is top so whenever we catch a 1 min sell signal on EURAUD hold the 2nd TP see how far it goes. Even higher probability if its a LH we're selling?? Piont is it should by rights have the highest probability to run downwards shouldn't it???

Just a thought, might try it with all those top 8 trenders from now on.
Attached Image (click to enlarge)
Click to Enlarge Name: eurauddaily.png Size: 54 KB
Feel the Fear and do it anyway!!!
  • #2,185
  • May 14, 2014 6:47am May 14, 2014 6:47am
Hi,
a little change in top trenders would be appreciable :
Attached Image (click to enlarge)
Click to Enlarge Name: capture.png Size: 60 KB


If the TF fontsize could be greater i really would apreciate that.
My name is Martin... Martin Gale
  • #2,186
  • May 14, 2014 6:52am May 14, 2014 6:52am
Taking only the short side might be an option as well cos markets generally go down and lot faster than they go up.
  • #2,187
  • May 14, 2014 7:00am May 14, 2014 7:00am
Some interesting posts this morning, I too am in the bank some and let the remainder run camp....

However, I do this having analysied the contracts that I am trading hour by hour over several months, so that I know when each frequently moves and by how much and also the overall morning and afternoon swings, as I treat the European morning and US morning as two separate sessions.

This allows me to focus on just the three pairs and two major crosses that historically offer tradeable moves during my chosen trading hours.....I would have to do a great deal of research to justify adding any additional contracts and I personally would NOT be able to cope with any more and remain focused.....for me, less is better.

I would also look carefully at some of the thinly traded crosses being mentioned.....what is the typical range of their spreads and how much slippage is to be expected etc.....
Trading Levels with WRBs
  • #2,188
  • May 14, 2014 7:07am May 14, 2014 7:07am
Quoting condor666
Hi, a little change in top trenders would be appreciable : {image} If the TF fontsize could be greater i really would apreciate that.
Hi Condor66

Heres the source code can you sort it yourself ok???

If not let me know and I will ask Ted but don't like to keep bothering him if I can help it. Let me know how you get on with it??
Attached File(s)
File Type: mq4 #top 8 trenders all brokers.mq4   7 KB | 461 downloads
Feel the Fear and do it anyway!!!
  • #2,189
  • May 14, 2014 7:11am May 14, 2014 7:11am
Quoting handy148
Taking only the short side might be an option as well cos markets generally go down and lot faster than they go up.
Yep good idea so just take the pairs trending down strongly and another thought I had was to wait for the 1 min to be trending up then put a trendline on it so when broken sell next LH. Every chance price won't come back that way again if the daily trend continues. By the way a 1min trend reversal is a 15 min CCI sell signal.
Feel the Fear and do it anyway!!!
  • #2,190
  • May 14, 2014 7:30am May 14, 2014 7:30am
Quoting clivepackham
{quote} Hi Condor66 Heres the source code can you sort it yourself ok??? If not let me know and I will ask Ted but don't like to keep bothering him if I can help it. Let me know how you get on with it?? {file}
Thanks, it worked perfectlly, now i have the same fontsize as the pairs values.
My name is Martin... Martin Gale
  • #2,191
  • May 15, 2014 12:36am May 15, 2014 12:36am
Morning all
We miss 100% of the shots we don't take
  • #2,192
  • May 15, 2014 12:40am May 15, 2014 12:40am
Good morning all
My name is Martin... Martin Gale
  • #2,193
  • May 15, 2014 1:09am May 15, 2014 1:09am
+11

Initial signal happened earlier
Attached Image (click to enlarge)
Click to Enlarge Name: 15 05 2014 T1.png Size: 39 KB
We miss 100% of the shots we don't take
  • #2,194
  • May 15, 2014 1:11am May 15, 2014 1:11am
Morning Rooi and all, have TP1 on EJ, signal 6.36; entry 6.48.
Price moved up while typing and took +14 for TP2. total +21.4.
strada

PS Rooi, great minds...........
  • #2,195
  • May 15, 2014 1:21am May 15, 2014 1:21am
good morning Rooi and all !!

nice trading already :-)

cheers
  • #2,196
  • May 15, 2014 1:21am May 15, 2014 1:21am
@rooi, did you draw those horizontal lines manually?
@strada, can you show us a graph of the 'signal at 6.36' please?
Nice early trading, congrats guys!
  • #2,197
  • May 15, 2014 1:23am May 15, 2014 1:23am
Quoting strada
Morning Rooi and all, have TP1 on EJ, signal 6.36; entry 6.48. Price moved up while typing and took +14 for TP2. total +21.4. strada PS Rooi, great minds...........
Nice trading Strada - You do always take a lot more out of the move than I do.

I do like it when I am in the same move as you are because it shows me that I pay attention to right things at the right time and it helps builds confidence.

Just wishing I was around when your daily target was 100 pips,but very happy with what you share already.Just need to rinse and repeat.

Thanks as always for sharing your trades and charts

All the best

Rooi
We miss 100% of the shots we don't take
  • #2,198
  • May 15, 2014 1:34am May 15, 2014 1:34am
Morning fellow traders

Nice trades Rooi and Strata, nice start.

I'm looking to sell gbpaud top of top 8 waiting for a nice pullback.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpaud shaping up for a sell.png Size: 38 KB
Feel the Fear and do it anyway!!!
  • #2,199
  • May 15, 2014 1:37am May 15, 2014 1:37am
Quoting jonnypants
@rooi, did you draw those horizontal lines manually? @strada, can you show us a graph of the 'signal at 6.36' please? Nice early trading, congrats guys!
Hi Johny

Yes I draw the yellow lines by hand to give possible levels that are in play but focus on the PA and the signal the most

Strada might answer you but he gives you the exact time for entry

I will post the sinal line for you but he does give you the exact time that he enters so that you can plot the line yourself so that he doesnt always have to post a chart seeing as he does not trade on mt4 and have to draw it manually.All this times he states are London time
Attached Image (click to enlarge)
Click to Enlarge Name: 15 05 2014 T2.png Size: 27 KB
We miss 100% of the shots we don't take
  • #2,200
  • May 15, 2014 1:38am May 15, 2014 1:38am
EURAUD looked like an interesting short earlier
Have you guys used a 'currency strength' indicator? ie AUD looking strong, look for longs in AU, shorts in EA....
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