Quote:
Originally Posted by kermut
Hi itguy,
I have noticed your recent charts are all 5M. Though you started out saying you only traded the 15M charts. Have you changed your view? Or just become so much more comfortable with the setups that you can read the 5M better now? Still following the 30M stoch?
Good trading so far.
Cheers,
K.
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Well yes and no. I am in a state of flux at the moment. I was trading only the 15 min charts and using the 5 min charts for confirmation. When I was only trading the 15 min charts I was also basing much more of my trading on stochastics and not so much Randy Candles.
You are correct in thinking my comfort level with the setups is increasing. The extra input and collaboration on this thread has a lot to do with that. So now I find myself spending almost all my time on 5 min charts and using the 15 and 30 min stochs to show me higher tf trends.
I still trade 15 and 30 minute charts using the stochastic methods I learned from Spudfyre, but more and more of my time seems spent glued to these RC setups.
I enjoyed reading your earlier post, consistency and following a set of rules and personal guidelines will get you far in this business. I have a similar system for trade management (my pip targets are a bit higher though
).
Here is what I am using now for my charts. I modified a macd/osma and added alerts to a mtf stochastic indicator. Same principles. Here's my trade from this evening, and my modded indies.