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Method of using Stochastic Oscillator Profitably

  • #41
  • Mar 11, 2017 1:47pm Mar 11, 2017 1:47pm
I must say here that in using stochastic oscillator patience is need just like any other strategy/indicator. We cannot get in just because stochastic is on oversold/overbought region and there is a support/resistance respectively. Be patient enough and allow it to be broken. "Don't drive your car even in an expressway with your eyes close". We trade what we see and not what we hope
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  • #42
  • Mar 11, 2017 1:51pm Mar 11, 2017 1:51pm
As you continue to take more stochastic-based trade setups, you would know more. Happy weekend
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  • #43
  • Mar 11, 2017 2:21pm Mar 11, 2017 2:21pm
Hi Okrim
I thought I have answered all your questions. I just saw that some of the questions have not been answered. About time frames I trade- I trade the daily, weekly and month time frames. You also asked about the use of bollinger bands. Bollinger bands is a powerful indicator. It helps to know the liquidity in each pair. We use upper band to follow trending bullish market, while we use the lower band to follow down trend.
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  • #44
  • Mar 11, 2017 2:38pm Mar 11, 2017 2:38pm
Bollinger Bands also helps to know when trending pair is loosing strength- exhaustion. When market trends strongly it hardly cross middle band.
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  • #45
  • Mar 11, 2017 2:42pm Mar 11, 2017 2:42pm
I hope the little explanation helps
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  • #46
  • Mar 11, 2017 2:43pm Mar 11, 2017 2:43pm
Good night everyone here
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  • #47
  • Mar 11, 2017 3:22pm Mar 11, 2017 3:22pm
Quoting 9jatrader
{quote} It's MT4 default, it's 8,3,3. I never changed anything on bollinger bands. Am not colour blind. I was just testing the colours that could fit Fibonacci. Fibonacci is too dull on white background.
MT4 default, it's 5,3,3
WaBaS Where are Buyers and Sellers
  • #48
  • Mar 11, 2017 10:53pm Mar 11, 2017 10:53pm
Hi Mr. Brown,
Maybe we learn from each other here. I have broker-connected MT4 Bollinger Bands. It's 8,3,3. I don't know why yours is 5,3,3. Perhaps you trade direct from MT4 platforms and not broker-connected MT4.
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  • #49
  • Mar 11, 2017 11:12pm Mar 11, 2017 11:12pm
I agree with Mr Brown, if you press the Reset button in the Parameters tab, the default is 5,3,3

Personally, I use 8,3,5 - it's 3 Fibonacci numbers and looks smoother

Anyone ready for Gold selling this coming week?

Cheers, John

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  • #50
  • Mar 12, 2017 3:12am Mar 12, 2017 3:12am
Quoting Erebus
I agree with Mr Brown, if you press the Reset button in the Parameters tab, the default is 5,3,3 Personally, I use 8,3,5 - it's 3 Fibonacci numbers and looks smoother Anyone ready for Gold selling this coming week? Cheers, John {image}
Although I don't trade Gold am already bearish on AUDUSD. Also Gold bearish move is around support. Good luck if it's broken
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  • #51
  • Mar 12, 2017 3:35am Mar 12, 2017 3:35am
If correlation is anything to go by, EURUSD already bullish and may affect Gold bears. I hope to get out of EURUSD spike,because it's not trending now. trending pair is easy to trade
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  • #52
  • Mar 12, 2017 4:17am Mar 12, 2017 4:17am
Quoting 9jatrader
{quote} Also Gold bearish move is around support. Good luck if it's broken
Could be good luck or good analysis, call in the professionals

https://goldstocksforex.com/2017/03/...-at-rate-hike/


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  • #53
  • Edited 8:09am Mar 12, 2017 7:49am | Edited 8:09am
Quoting 9jatrader
One of the interesting things about using stochastic on overbought and oversold region is that which ever the direction we follow. That means if it breaks the support while stochastic is oversold we go short. Then failure to break it we have long trade. We should never ignore SL, in case middle band pose as a resistance and send it back to the support area
Hi,

yes, you answered my question, thanks!
So, here you say that the failure to break the support gives us the chance to go long. If the price bounce to support, when you open a long trade? Once the stocastic is above 20?

Thanks!
  • #54
  • Mar 12, 2017 12:45pm Mar 12, 2017 12:45pm
Quoting okrim
{quote} Hi, yes, you answered my question, thanks! So, here you say that the failure to break the support gives us the chance to go long. If the price bounce to support, when you open a long trade? Once the stocastic is above 20? Thanks!
The stochastic main and the signal must have crossed each other and move little above 20
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  • #55
  • Edited 2:45pm Mar 12, 2017 12:51pm | Edited 2:45pm
Hi Okrim,
We must know that no matter how strong and good strategy we have no system/indicator is fool-proof. Always remember your SL. The strategy failed me when I used it- the failure to break below to go bullish ones in USDCAD. It was returned by middle band and later went bullish still from the support. I decided not to get in again.
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  • #56
  • Mar 12, 2017 2:49pm Mar 12, 2017 2:49pm
I will be joining EURJPY bulls tonight
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  • #57
  • Mar 12, 2017 3:32pm Mar 12, 2017 3:32pm
Quoting 9jatrader
Hi Okrim, We must know that no matter how strong and good strategy we have no system/indicator is fool-proof. Always remember your SL. The strategy failed me when I used it- the failure to break below to go bullish ones in USDCAD. It was returned by middle band and later went bullish still from the support. I decided not to get in again.
Yes sure, SL always!
  • #58
  • Mar 12, 2017 3:38pm Mar 12, 2017 3:38pm
Quoting 9jatrader
I will be joining EURJPY bulls tonight
EURJPY seems nice!

Both 4hr TF and daily TF shows stocastic in overbought area. So, if the price breaks above the trendline it would be a LONG signal, right? Do you wait for the candle to close before to decide to enter the trade? Will you enter based on 4hr or daily TF?

And if the price fails to break and turns down, once the stocastic is below 80 we can enter short, right? Again, will you enter short based on 4hr or daily tf?

Thanks!
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  • #59
  • Mar 12, 2017 3:47pm Mar 12, 2017 3:47pm
i will not go short, on the longer tf bulls consolidated
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  • #60
  • Mar 12, 2017 3:49pm Mar 12, 2017 3:49pm
i shared the chart in my other thread,"Simple and profitable trading style"
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