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MTF Stochastic trading using 1min chart (Questions)

  • #81
  • Mar 30, 2015 7:04am Mar 30, 2015 7:04am
Quoting Ivanyo
{quote} Yep live {image}
Nicely done

I have subscribed to you and so if you subscribe to me then you will be on my buddies list and will be able to post in the main thread.

Nicely done and looking forward to your posts

Rooi


PS -Sorry for the hassle with posting but otherwise it messes it up badly
We miss 100% of the shots we don't take
  • #82
  • Mar 30, 2015 10:44am Mar 30, 2015 10:44am
Quoting Rooi
{quote} Would you mind sharing a chart of the trades here If you dont use a million different indies then I can let you post in the other main thread Nice results , are they live? Rooi
Yes it was my error.. was for filter better my trades but nothing... next london season im going to trade only with the bricks...
  • #83
  • Mar 31, 2015 1:04am Mar 31, 2015 1:04am
Quoting Contrax
{quote} Yes it was my error.. was for filter better my trades but nothing... next london season im going to trade only with the bricks...
Is up to you

Whatever works best but just trying to keep the other thread clean of to many indies

Good luck for today
We miss 100% of the shots we don't take
  • #84
  • Mar 31, 2015 1:45am Mar 31, 2015 1:45am
Quoting Rooi
{quote} Is up to you Whatever works best but just trying to keep the other thread clean of to many indies Good luck for today
Im doing a local project, so i need sleep well... i always trading at 2am-6am hahaha. Im going to rest a little bit and start with only that indicator... all the indicators make me crazy.... hahaha good luck to you.!
  • #85
  • Mar 31, 2015 1:55am Mar 31, 2015 1:55am
Same to you mate
We miss 100% of the shots we don't take
  • #86
  • Mar 31, 2015 5:27am Mar 31, 2015 5:27am
Quoting Rooi
{quote} Nicely done I have subscribed to you and so if you subscribe to me then you will be on my buddies list and will be able to post in the main thread. Nicely done and looking forward to your posts Rooi PS -Sorry for the hassle with posting but otherwise it messes it up badly
Has been done Rooi

On topic, another good day - still one trade open but I'm letting it run. First position was closed pre-maturely due to red news (marked in yellow line)

Attached Image

Attached Image (click to enlarge)
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  • #87
  • Mar 31, 2015 5:38am Mar 31, 2015 5:38am
Quoting Ivanyo
{quote} Has been done Rooi On topic, another good day - still one trade open but I'm letting it run. First position was closed pre-maturely due to red news (marked in yellow line) {image} {image}
Nicely done

You are now able to post in the main thread if you want ...
We miss 100% of the shots we don't take
  • #88
  • Apr 7, 2015 5:11am Apr 7, 2015 5:11am
Quick one - how do you all trail your second position?

I find that moving to BE after 3 pips will mean that the second half always gets wiped out by a long wick of some sort.

Any tips?
  • #89
  • Apr 7, 2015 5:14am Apr 7, 2015 5:14am
Quoting Ivanyo
Quick one - how do you all trail your second position? I find that moving to BE after 3 pips will mean that the second half always gets wiped out by a long wick of some sort. Any tips?
Hi

I do agree.

+3 pips is to small.I like to move it to BE after 7 -> 9 pips but I'm very weary to close the other half at BE manually but it really is discretion IMHO

What works best for you...

Rooi
We miss 100% of the shots we don't take
  • #90
  • Apr 17, 2015 1:00am Apr 17, 2015 1:00am
Hi, I've been looking at the main thread and it has been interesting.

I have a question with regards to the pair that is chosen, EURJPY. I noticed that EURUSD and EURJPY are tightly correlated during the Euro sessions. From a spread point of view, wouldn't trading the EURUSD reduce your trading costs, especially since the spread is large compared to your profit targets. Including commissions, it costs roughly 1.5pips for EURJPY compared to 0.8 pips to EURUSD.

Any thoughts?
  • #91
  • Apr 17, 2015 1:29am Apr 17, 2015 1:29am
Quoting GaryG
Hi, I've been looking at the main thread and it has been interesting. I have a question with regards to the pair that is chosen, EURJPY. I noticed that EURUSD and EURJPY are tightly correlated during the Euro sessions. From a spread point of view, wouldn't trading the EURUSD reduce your trading costs, especially since the spread is large compared to your profit targets. Including commissions, it costs roughly 1.5pips for EURJPY compared to 0.8 pips to EURUSD. Any thoughts?
Hi

Good question

I will reply my thoughts shortly

Rooi
We miss 100% of the shots we don't take
  • #92
  • Edited 2:42am Apr 17, 2015 2:23am | Edited 2:42am
Quoting GaryG
Hi, I've been looking at the main thread and it has been interesting. I have a question with regards to the pair that is chosen, EURJPY. I noticed that EURUSD and EURJPY are tightly correlated during the Euro sessions. From a spread point of view, wouldn't trading the EURUSD reduce your trading costs, especially since the spread is large compared to your profit targets. Including commissions, it costs roughly 1.5pips for EURJPY compared to 0.8 pips to EURUSD. Any thoughts?
(Writing this here because their is no restriction on posting here and I welcome all thoughts regrading this)

Hi GaryG

Thank you for the question as I think it is perfectly timed as I have been looking into it myself recently and am going to be doing some calculations and back testing about it over the weekend.

To start off with.My broker doesn't have a fixed spread size as its ECN and so my spreads on FX are floating on all pairs in normal environment from 0 to 1.2 pips
(0 - 12points at see on on my chart).I have to pay $7 on a round trip in and out of the market per 100 000 units of currency at whatever the value might be.

To make it easier to calculate it works out to about 0.7 pips on x / USD pairs and on EUR / JPY it works out to about 0.9ish pips.

Here are the charts attached so that you can have reference of what I am talking about on EU like you said and EJ and GU that is more commonly used by me or the guys who trade the system

Attached Image (click to enlarge)
Click to Enlarge Name: EJ.png Size: 82 KB

Attached Image (click to enlarge)
Click to Enlarge Name: EU.png Size: 56 KB

Attached Image (click to enlarge)
Click to Enlarge Name: GU.png Size: 67 KB


The EU and GU trade at $10 dollars a pip per 100k and the EJ to $8.4 per 100k.

So this means I make less per pip on EJ compared to EU and GU and pay the same commission to get in and out of the market.On 1 pip (10 points) I lose 1,6 points so every 100pips I make on EJ instead of EU or GU I lose 16pips of currency gained and if you make 100 pips a week then you lose 64pips a month and 768pips a year. Thats about 2 months worth of pips.Hope that makes sense the way I typed it otherwise let me know and I will try again.

So for me personally it not a matter of spread at the moment but pip value that affects my trading the most currently .

I use to trade just EU and GU and then when volatility died last year I moved to EJ and never moved back when the ranges changed back to normal bearing in mind
X / YEN pairs tend to print bigger ranges every once in while but we are looking for averages and not out of the norm days as they exist on all pairs.

I am also currently looking into DAX and DOW for spread reasons and there is no commission involved but they are CFDs and they legal obligations work differently to FX so need to be sure about a lot of things as I like leverage.

Look at their spread and average ranges and with this broker I found yesterday the spreads are fixed and just checking it out on DEMO for now

Attached Image (click to enlarge)
Click to Enlarge Name: DAX.png Size: 72 KB

Attached Image (click to enlarge)
Click to Enlarge Name: DOW.png Size: 50 KB


In my opinion there is no way to know what pair will trade the best for the day.All we can look at is the averages and what the PA looks like.

Might be a bit of over kill on the question but there are plenty to consider when we try and build our self the best system for your personality and there will always be small things that can make a big difference

Please note these are my views at present and I may be wrong on some of it and happy to admit to it if anyone points out anything different from what I mentioned so please feel free to post

Rooi
We miss 100% of the shots we don't take
  • #93
  • Apr 17, 2015 7:55am Apr 17, 2015 7:55am
Hi Rooi,

Good points with excellent substantiation. From my point of view, I place an importance on spread as it is a big cost of trading especially at the lower timeframes. From my experience with an ECN broker, I usually find the spreads of EURUSD (0 to 5 points) much more attractive than EURJPY (8 to 13 points) excluding commissions. Assuming we are aiming for a small target profit of below 10pips for this system, the spread alone represents 5% of profit for EURUSD and 13% for EURJPY (taking the approximate figures again). While you look at the pip value, I believe just looking at the percentage that a spread reduces profit and increases loss to be more accurate. Again, I may be wrong or my logic may be flawed.

As we know, no system of trading is perfect and gains are always accompanied by losses. I find that reducing the cost of trading especially when it is such a high percentage of potential profit to be important.

On a side note, would it be possible for you to share the stats so far for trading this system? For example, the win loss ratio, average win pips and average lost pips. With this information perhaps a better analysis of this spread issue will suffice. (with the assumption that EURUSD does indeed move in the same direction and volatility with EURJPY)
  • #94
  • Apr 17, 2015 8:45am Apr 17, 2015 8:45am
Quoting GaryG
Hi Rooi, Good points with excellent substantiation. From my point of view, I place an importance on spread as it is a big cost of trading especially at the lower timeframes. From my experience with an ECN broker, I usually find the spreads of EURUSD (0 to 5 points) much more attractive than EURJPY (8 to 13 points) excluding commissions. Assuming we are aiming for a small target profit of below 10pips for this system, the spread alone represents 5% of profit for EURUSD and 13% for EURJPY (taking the approximate figures again). While you look at the...
Sorry but I dont keep those stats as my system is not mechanical and very very discretionary.

Have you been testing this system?
We miss 100% of the shots we don't take
  • #95
  • Apr 19, 2015 12:12pm Apr 19, 2015 12:12pm
Quoting Rooi
{quote} Sorry but I dont keep those stats as my system is not mechanical and very very discretionary. Have you been testing this system?
Hi Rooi,

I have not been testing it as intensively as you have. I did however use it on a 5m chart for about a month but found that the results are very varied as the system can only work well in strong breakouts. Essentially each position taking using Genesis is a bet on whether the move will continue which can be a good strategy if there is momentum. However in periods of ranging days, it is hard to filter out those bad signals (be it 1m or 5m)

On a related note, typically what's the stoploss used for the 1M strategy? Is it the swing high/low or a fixed pips?
  • #96
  • Last Post: Apr 20, 2015 12:47am Apr 20, 2015 12:47am
Quoting GaryG
{quote} Hi Rooi, I have not been testing it as intensively as you have. I did however use it on a 5m chart for about a month but found that the results are very varied as the system can only work well in strong breakouts. Essentially each position taking using Genesis is a bet on whether the move will continue which can be a good strategy if there is momentum. However in periods of ranging days, it is hard to filter out those bad signals (be it 1m or 5m) On a related note, typically what's the stoploss used for the 1M strategy? Is it the swing high/low...
Here is the entry requirements on the first post

"
The Entry requirements

1 - Matrix Changes color and the bar closes.This will be the signal candle (the indicator doesn't repaint )
2 - Price improves by at least 1 pip of the Signal candle
3 - If you use the Stochastic then at least one needs to be in your direction.

Now you have a signal.If you choose to use it is up to you.There is no magic answer for when to take it and when not.Know how price works and seeing the price action unfold everyday will help you will make better decisions the more experience you get with this system.

IF - You decide to trade Stoploss goes above the swing high or low but its really up to you how you want to do it.Your trading the system and have to take responsibility for how many pips you risk etc.

The patterns repeat themselves day in and day out.Not changing what you are looking at the whole time will train your eye.A weak craftsmen blames his tools.

Exits

Exits are the most important thing in trading as that is where you as a trader decide if the opportunity is still present.Exits helps use lock in profits and reduce risk by moving Stoplosses and many other things.Nothing complicated just the basics

I divide my trade into 2 equal parts in order to have 2 exits.I might half the second take profit again on the second half of the trade if I think price will continue and I want to stay in the move and want to take some profits.

Other traders split the size into 3 equal parts from the start and then trade accordingly.I cant speak for them so send them a PM or ask them.

My TP1 = + 3 or greater or if I decide to make it smaller because PA is not looking good its up to me.
My TP2 = + 6 or greater but I will always try and get the best price for it.This is the money maker.I have a small profit in the bank from TP1 so let TP2 ride.

Strada approach which I will hopefully learn in time is as follows :

TP 1 = +6 or bigger
TP 2 = +12 or bigger or if there is reversal signal

Like I said exits are what make a trader a trader and the better you get the more confidence you will have in your decisions to leave the trade open or close it.


Open trades are closed if a signal happens in the other direction and you believe there is enough cause to close or even revers your order.
We miss 100% of the shots we don't take
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