Maybe its just me or my charting package, but I can’t find stochastic rainbows or ATR channels. Are you referring to Keltner channels?
They’re not standard indicators; I developed them myself to meet the needs of this trading method. If you’re trading with MT4, the indicators are in the zip file on the first post of this thread. If you’re using a prorealtime based trading system, there’s instructions to add them in the pdf linked from that post. I’m afraid I can’t help if you’re using a different trading system from those two.
hi,
First of all thanks a lot for this method, its amazing how simple it is, basically just watch the lines and how things go thru them! i started forex in summer and stoped for many reasons, back now and i find i dont even have to fo thru the school again coz ur pdf explains everything!
now, i cant get it on my platform! 
i use fxcm and i think its a mt4, i open the chart, indicators, click on load, open the folder where the files are but sais the folder is empty! geesh im going crazy with it!
saw ur blog, ill be following see how you do and compare it with how i do! 
hopefully it does me as great as it does to you
Nabil
Hi,again, from theyr support i found out why i cant load it, its because its .mq4 file and it has to be .lua, can you tell me how to convert it? i tried doing what you explain in the other pdf but i cant even find the first step in the platform 
sorry for being a pain
thanks
Nabil, I’m really sorry but I’m not familiar with the trading platform you’re using, and wouldn’t have a clue how to convert the indicators to lua
may i ask, what platform do you use? im still starting so im not very familiar with other companis and stuff and fxcm was the first i came across!
im still cheking around how to get them transformed for i really love your method!
thanks again
The indicators are for Metatrader 4, which is probably the most commonly used platform for forex trading.
Nabil, I believe the .lua files are used with FXCM’s Trading Station II. That’s not the same thing as MT4. Try going to the MetaTrader website (metatrader4 dot com) and downloading and installing MetaTrader 4. After you install it, copy and paste the .mq4 files into the experts/indicators folder within the MetaTrader folder. Open the MetaTrader folder in C:Program Files, then double click the experts folder, then the indicators folder. Paste them in there. If you use a PC the file path will be C:\Program Files\MetaTrader 4\experts\indicators
Hope this helps.
Thank you a lot
Ive done that but the mt4 platform seems very complicated, i got used to the fxcm platform i have, its very easy and clear, im trying to get the files coded to .lua, ill do anything to get them, i love this strategy and simply by doing what the pdf said without even having the indicators, i managed to go from 9 euros to 17 in a micro account i use to learn,only risking the minimom wich is 2euros(a lot for what the capital is but its still the least i could)
I have a friend asking me about forex, he wants to learn, i told him i learned reading the school here(i dont remember half of it) and with a pdf file(your file) i would like to ask before i recomend anything and do him wrong if you think that by studying your pdf file and watching one or two videos of risk management one would be ready to go demo and understand what his doing? Or you think he should go thru more? Because the school here is quite long and before you got the the last page you forgot the first one
One last thing, might seem stupid but i dont get it, in the stocrastic(sorry if wrongly spelled) when you say over bough and over sold, can you explain why is it over bought/sold and when is it bought or sold? Because sometimes you say its over bought and all the lines come together up and sometimes u say its over sold and all the lines are still up,same,maybe im looking at it wrong but i dont understand it. And what does it mean if its overbought or sold, how should i react to that? Im not sure you explain it in the pdf but i didnt understand these points
Sorry for being a bit heavy but i repeat, i love your method and how you explain it, makes trading so simple and as long as you follow the rules your safe
Mbr,
Nabil
Nabil, regarding your friend, my belief is that he should learn as much as possible, both from the school here and studying various methods. But he shouldn’t put off trading on demo for too long, as you can’t learn to trade unless you actually start trading 
Neither should he be too quick to jump from demo to live trading - the more time spent in demo, the better a trader you’ll be when you switch to live & the less chance of it being a disaster.
The Stochastic, in my method, is overbought when the lines are all concentrated together above 80, and oversold when concentrated below 20. The tighter the concentration the better. In terms of how you should react … sometimes an overbought/sold will happen right at the point where a trend reverses or starts to retrace. Sometimes the trend will slow down a bit, crunch sideways a while, then keep going. Sometimes it’ll keep going just a little longer and then reverse.
Its a warning sign, if you’re trading with that trend, to either take profit or move your stops up close, to take you out if it does start reversing. It is not a reversal indicator - never enter contrary to the trend just because the stochastic says overbought or oversold.
The Training Wheels method does give you clear rules to follow, which is what I needed, while also requiring that you analyse the price action in the context of the indicators - over time & experience that will make you (and me) a better trader. It doesn’t guarantee safety though, you’ll take losses from time to time with this method the same as you will with others. How well you manage those losses, both in terms of protecting your capital, how disciplined you are with stops, and how it affects you psychologically and emotionally - that’s what will determine how good a trader you’ll become.
Hi slipshod,
yours is a very nice thread.
Not only have you developed a system that seems to be pretty effective and have made this system available for free, but you also put a lot of effort and time into responding to people’s questions.
That’s pretty impressive.
Since you’re a Pepperstone customer, I’d like to ask you whether you are still encountering order processing performance problems or whether Pepperstone’s server upgrade of Dec 19 has solved those issues.
Cheers,
O.
Hi Oliver, for me they’ve been great since the 19th. No freezes, no having to restart MT4, orders processed quickly.
Yeah, I’ve read the same about Pepperstone in some other forums … nice to have it confirmed once more.
So I feel good about opening with them.
O.
One thing I’d really like pepperstone to do is improve their MT4. Its just plain vanilla MT4 - no ability to create pre-set one-click entries based on a % of your capital, no moving stops on the chart by dragging the lines as some other broker’s MT4 can do. There’s 3rd party scripts that can help do these things, but for some reason these don’t work for me on Pepperstone’s MT4, whereas they do on other broker’s (so its not my machine).
None of this really matters too much as they’re all nice-to-haves. 20 years ago people were trading by calling brokers on the phone, and if that could be done profitably then I guess we shouldn’t complain about a clunky user interface
amazing, you should be a teacher
again, thank you a lot, just to inform, ive gained 160 pips in the last 3 days, in money its nothing because im risking very very very very little, but 160 pips since monday its quite amazing, luck also involved i guess
ill let you know how it goes, for now all i do is follow the rules, have it printed out, the 3 times when to enter and when to exit but generaly i use 2:1 going for -30 for stop 60 for limit unless the method sais it can go for more or a possible pullback that now i understand better with thestocrastic you just explained
again,thank you
nabil
Hehe, yes, I remember well how cumbersome trading by phone (or more precisely, by fax) was.
Nevertheless, once the technical possibilities allow it, they should be employed to the maximum.
Maybe if enough customers requested P-stone to improve their MT4, they’ll do it … I guess it’s just a matter of purchasing additional utilities from MetaQuotes, like a software upgrade.
Can’t be all that expensive.
Oh well, I’ll always take simpler software and lower spreads in combination with good execution speed over elaborate software and high spreads … better a few clicks more per trade than paying through the nose to safe those few clicks.
Have you contacted P-stone’s support about the non-functional third party scripts?
O.
SlipShod, I just started using your system last week and I’d like to thank you for sharing such a nice system. I am finding that by looking at the three time frames Daily, 4Hour & 1 Hour I am getting into a lot of trades that have started running great but then I am getting stopped out at BE 4 out of 5 times allready. I took 88 Pips on 1 position and BE on the other on the EUR/USD yesterday when I could’ve taken 144 Pips and 40 Pips. I guess my point is that I am thinking of just taking the quick 30-50 pips by locking them in with my stop and waiting for the pull back to get back in if the stop gets hit. Is everyone else noticing trades that just aren’t running or is this just a bad week? Yesterday I shorted AUD/USD and watched my TP go from 0 to 40, then back to 0 about 5 times until today it finally BE. I rather just take the profit and keep opening new positions in the direction of the trend.
Topgun - yes there is absolutely nothing wrong with taking a profit, its one of the reasons I try to open multiple entries rather than just one. That way I can exit an entry if the price looks like retracing, and leave the others in covered at BE in case it does start to run. Its very frustrating though, trading trends at a time when the market decides to crunch sideways!
Oliver - I contacted them about the scripts, sent them the ones I was trying to run as well. They responded saying they’d tried them and saw the scripts work on their end, so who knows what the problem is :33:
Hehe, ok.
I’ll test some scripts with Pepperstone’s MT4 and post the results here.
O.
Hello Slipshod,
I am a newbie. Although I have been learning for over a year now with no good results. I like ur system and I really want to learn from you. Kindly help.
Please I have a few questions to ask. Kindly assist.
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Can I use H4 and H1 as confirmation to trade M15?
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If YES, then does price have to be above signal line on all TFs ( H4, H1 and M15) for me to enter long?
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What if price action is above signal line on H4 and H1 but below signal line on M15. Should I wait for the price to move above Signal line on M15 before I can go long?
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What if H4 and H1 are not overbought and m15 is already overbought. Can I still go long on m15 or I should wait?