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Multiple Time Frame Stochastic trading using 1min charts

  • #2,361
  • May 22, 2014 1:51am May 22, 2014 1:51am
Quoting panamamike
{quote} Fighting for scraps ???? From what? The meal has not been served; in fact that was not even an appetizer, merely some welcoming finger foods.
Your right.

That's a negative way to see it.

Lets see where we go from here.
We miss 100% of the shots we don't take
  • #2,362
  • May 22, 2014 1:54am May 22, 2014 1:54am
Seems the results are excellent, I never traded on 1min chart. I prefer to use min 15min chart.
  • #2,363
  • May 22, 2014 2:27am May 22, 2014 2:27am
+7.1 and throwing in the towel for today.

LO down spike was too fast

Enjoy your day guys
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We miss 100% of the shots we don't take
  • #2,364
  • May 22, 2014 2:38am May 22, 2014 2:38am
Quoting Rooi
+7.1 and throwing in the towel for today. LO down spike was too fast Enjoy your day guys {image}

Poorer than forecast French Mfg PMI at LO spiked € down 20 pips ....mixed German PMI and its back up again......
Trading Levels with WRBs
  • #2,365
  • May 22, 2014 2:51am May 22, 2014 2:51am
Quoting Islander
{quote} Poorer than forecast French Mfg PMI at LO spiked € down 20 pips ....mixed German PMI and its back up again......
Euro zone composite PMI in 10 mins, GBP GDP in 40 mins. Should set our direction thereafter.
  • #2,366
  • May 22, 2014 2:52am May 22, 2014 2:52am
+16 on the next trade (+23 for the day )

Must start being more active in my trading hours but can be very frustrating to lose what you made in the opens

What I have noticed is there is from 2 - 6 swings and signals in that period of time that I trade and must just learn to build the confidence to trade it

Lots of confidence building to do.Look at Strada.He traded the whole Euro session for about 10 years on the 1min TF and was able to be positive 99% of the days he traded. Just practice practice practice
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We miss 100% of the shots we don't take
  • #2,367
  • May 22, 2014 3:25am May 22, 2014 3:25am
Yep so far so good for me too,waiting for GBP news to pass so thought I'd post my results today +14.9-3.7+7.0=18.2 at 1% per pips thats 18.2% growth today.

Like you Rooi I am getting more confident by the minute,(pardon my pun) trading these 1 minute charts so looking forward to next week and trying it "live".

Gonna trade the news if its a large differential.
Attached Image (click to enlarge)
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Feel the Fear and do it anyway!!!
  • #2,368
  • May 22, 2014 4:03am May 22, 2014 4:03am
Quoting clivepackham
Yep so far so good for me too,waiting for GBP news to pass so thought I'd post my results today +14.9-3.7+7.0=18.2 at 1% per pips thats 18.2% growth today. Like you Rooi I am getting more confident by the minute,(pardon my pun) trading these 1 minute charts so looking forward to next week and trying it "live". Gonna trade the news if its a large differential. {image}
Nicely done.

You guys trade very aggressively with 1 pip = 1% of the account?
We miss 100% of the shots we don't take
  • #2,369
  • May 22, 2014 4:23am May 22, 2014 4:23am
Quoting Rooi
{quote} Nicely done. You guys trade very aggressively with 1 pip = 1% of the account?
He did say it was demo. If trading live like that, perhaps a small micro account looking to run it quick and hard, otherwise a sure recipe for a blown account.
  • #2,370
  • May 22, 2014 4:52am May 22, 2014 4:52am
Quoting Rooi
{quote} Nicely done. You guys trade very aggressively with 1 pip = 1% of the account?

Yea I guess I am just trying to make money fast,hence the 1 minute timeframe. I try to only take AAA+ rated entries and cut my losers very quickly. I try to only ever lose 10 pips max and very often cut them before that soon as they turn against my trade idea.

It would be nice to just make 10 pips per day equals 10% then call it a day like our friend punisher does. Its all about personal discipline I guess which is very important just like money management.

Talking about money management thats another key thing to only trade 1% of your outstanding balance, win or lose, that way you can guarantee you won't blow your account as its absolutely impossible to run out of money that way. You could trade and lose every trade for the rest of your life and still not run out of money. Sure it gets pretty small after say 20 losers in a row, but one would like to think you would review your strategy before that happens??? LOL. (still no smiley faces!!!)

The piont is if your trading strategy has a positive edge you should make nice returns no matter how much you risk. That being said I am considering reducing it to say 0.2% per pip to help with the emotions, in fact when I go live will probably start off using 0.2% per pip and work it up as I get more confident.

Mind you, saying that, yesterday I had a tremendous afternoon and doubled my demo account, took some riskier trades though but then thats what its all about with demo trying out different entries etc. Been trying out lots of different things this week but slowly slowly its all coming together nicely. Gonna keep it simple for next week , write out my rules and stick to them like glue.

Well thats the plan, but as we all know its one thing to write out a good trading plan but another thing altogether to actually trade it!!!

Anyway sounds like you are getting it together nicely, how do you decide when to stop? When is enough enough for you???
Feel the Fear and do it anyway!!!
  • #2,371
  • May 22, 2014 4:59am May 22, 2014 4:59am
In negative territory for now but will fight on missed some opportunity for recovery though, all my fault
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Let it turn and find your entry.
  • #2,372
  • May 22, 2014 5:17am May 22, 2014 5:17am
Nailed it, but could have taken more, still in deficit over all but would have been differnt if I'd not missed the long after the first 2 losses. will see what NYO has in store.
Hey does anyone have an indicator that allows STICK TO YOUR RULES cos I violated mine on the first trade.
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Let it turn and find your entry.
  • #2,373
  • May 22, 2014 5:31am May 22, 2014 5:31am
Quoting Intrepidpips
Nailed it, but could have taken more, still in deficit over all but would have been differnt if I'd not missed the long after the first 2 losses. will see what NYO has in store. Hey does anyone have an indicator that allows STICK TO YOUR RULES cos I violated mine on the first trade. {image}
I don't know but I have one if you find one. LOL
Feel the Fear and do it anyway!!!
  • #2,374
  • May 22, 2014 5:42am May 22, 2014 5:42am
Quoting Intrepidpips
Hey does anyone have an indicator that allows STICK TO YOUR RULES cos I violated mine on the first trade. {image}
Maybe a new brain ?
My name is Martin... Martin Gale
  • #2,375
  • May 22, 2014 7:14am May 22, 2014 7:14am
Quoting clivepackham
{quote} I try to only ever lose 10 pips max and very often cut them before that soon as they turn against my trade idea. Gonna keep it simple for next week , write out my rules and stick to them like glue. Well thats the plan, but as we all know its one thing to write out a good trading plan but another thing altogether to actually trade it!!!
That's one thing that cuts me to shreds, exiting before my SL and seeing price turn and blow past my TP; then there is that occasional jumping the gun and not keeping to the rules.
Let it turn and find your entry.
  • #2,376
  • Edited 8:06am May 22, 2014 7:24am | Edited 8:06am
Quoting clivepackham
{quote} Yea I guess I am just trying to make money fast,hence the 1 minute timeframe. I try to only take AAA+ rated entries and cut my losers very quickly. I try to only ever lose 10 pips max and very often cut them before that soon as they turn against my trade idea. It would be nice to just make 10 pips per day equals 10% then call it a day like our friend punisher does. Its all about personal discipline I guess which is very important just like money management. Talking about money management thats another key thing to only trade 1% of...

Hi Clive

You are very right about the process of it, if your strategy has an edge you will be able to make nice returns.There is nothing wrong with being aggressive and trading with 10% of your capital per trade. If you have $1000 and trade 1 % of your account at 10 pips stop your risk is $10 so $1 per pip

But if you have a $1000 dollars in your account for trading and you take 10% of the account and put it in a a trading account it is $100 and trade it 10% risk it also works out to $1 per pip but your growth is much faster right, with less risk on your money in the bank but more risk on the amount in trading account using leverage.
Your thinking to yourself I know this Rooi and Im sure you do.

So why are we not all billionaires? Because of the pain it causes us when we lose 10% of the account.
Why does it cause us pain? Because we have not tested our system to the point where we can trust it enough to get us through the doubt of making the next trade.

If one can trade for a year using the same system on the same market and produce a certain outcome and work out the draw down and the different stats about the system and your trading then the sky is the limit but we need that trade setup or system that we can rinse and repeat trades.

I always think a lot of us have it backward we want to risk too much with too little knowledge and then it frustrates us.We could have been building a better system and testing it properly rather than being frustrated by watching an account see-saw up and down.How many years are you planning on trading?I plan on trading till just before I die and so what is 1 or 2 years really when building a system that you know like the back of your hand and can truly leverage to its full potential.

I trade 2 positions at a disaster stop of 15pip ( 2X15 =30) @2.5 % of my account.Looking to one day trade it at 5% of the account but will have to get there slowly

Just my babels - Badly calculated risks spell disaster no matter what industry or environment

PS- Corrected all my grammar mistakes
We miss 100% of the shots we don't take
  • #2,377
  • May 22, 2014 8:04am May 22, 2014 8:04am
Quoting Rooi
{quote} Hi Clive........ I trade 2 positions at a disaster stop of 15pip ( 2X15 =30) @2.5 % of my account.Looking to one day trade it at 5% of the account but will have to get there slowly Just my babels - Badly calculated risks spell disaster no matter what industry or environment
Yes I too have been following your risk model with 10% across 2 trades but the problem I have with that is a loser costs me both trades say 10% but just half winning returns 5% if I get a 10 pip winner which is a 0.5RR which is not too hot.

I am sure we have to get bigger winners than our losers to be successful traders.

That makes me question this whole scalping mentality that people have of just grabbing a handful of pips per trade. I like the small stops on 1 minute but really want to hold them longer to get the bigger RR, not easy as you know because half the time price comes back and knocks us out for BE.

I am sure the secret lies in trading with the trend and holding until the trend ends, also good times to enter 1 min is after a drive one way say 100 plus pips then catch the first reversal pullback , that way we could get 70 plus pips a typical fib pullback of the original 100pip move down.

Do you ever look back at your days entries to see how far they have run after you exited???

I think it would be cool if we could work out a method to enter on the 1 min looking for a longer hold on TP2, like I say I think it is something like entering on first pullback after a reversal of the 1 min trend, 15min CCI turn. Maybe if we identify the 15min CCI turn is a HL or LH then we should hold the first 1 min entry???

Just a thought.
Feel the Fear and do it anyway!!!
  • #2,378
  • May 22, 2014 8:07am May 22, 2014 8:07am
Quoting Intrepidpips
Nailed it, but could have taken more, still in deficit over all but would have been differnt if I'd not missed the long after the first 2 losses. will see what NYO has in store. Hey does anyone have an indicator that allows STICK TO YOUR RULES cos I violated mine on the first trade. {image}
Nice trading
We miss 100% of the shots we don't take
  • #2,379
  • May 22, 2014 8:09am May 22, 2014 8:09am
Just thought I would quickly add to my last post that entering at Yesterdays high or low quite often starts a reversal move back with the daily trend, that could be worth looking into.

Heres an indy that marks yesterdays high,low and close price, might help.
Attached File(s)
File Type: ex4 _HOD_LOD_Close_1.ex4   5 KB | 313 downloads
Feel the Fear and do it anyway!!!
  • #2,380
  • May 22, 2014 8:28am May 22, 2014 8:28am
Quoting clivepackham
Just thought I would quickly add to my last post that entering at Yesterdays high or low quite often starts a reversal move back with the daily trend, that could be worth looking into. Heres an indy that marks yesterdays high,low and close price, might help. {file}
Heres an example of price reacting off of yesterdays low on GBPAUD today already gone up about 50 pips , wander where it will finish at end of today???
Attached Image (click to enlarge)
Click to Enlarge Name: example of price off of yesterdays low.png Size: 43 KB
Feel the Fear and do it anyway!!!
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