Hi Quick,
80/20, 76.3/23.6 Both seem fine... given a choice, I would go with the fib #'s though...
The exit is the reverse of the entry... as the Stochastic reaches the overbought territory, switch to the 1 day chart, or the 4 hr for that matter and follow the Stochastic as Spud has instructed earlier in this thread... The shorter the time frame, the more you may want to wait a bit beyond the initial cross.
Once you are in the trade, wait and follow the 1 week stochastic until it hits oversold territory then again switch back to the 1 day or 4 hr and find your entry there... a trade could last 2 - 5 or 6 weeks on the outside.
I'm using the benefit of the longer time frame to filter out my own emotions and try to grow an account... on paper it looks good.. as Spud kindly suggested, now it's time to try some actual money... I may go with a micro lot to start with though!
80/20, 76.3/23.6 Both seem fine... given a choice, I would go with the fib #'s though...
The exit is the reverse of the entry... as the Stochastic reaches the overbought territory, switch to the 1 day chart, or the 4 hr for that matter and follow the Stochastic as Spud has instructed earlier in this thread... The shorter the time frame, the more you may want to wait a bit beyond the initial cross.
Once you are in the trade, wait and follow the 1 week stochastic until it hits oversold territory then again switch back to the 1 day or 4 hr and find your entry there... a trade could last 2 - 5 or 6 weeks on the outside.
I'm using the benefit of the longer time frame to filter out my own emotions and try to grow an account... on paper it looks good.. as Spud kindly suggested, now it's time to try some actual money... I may go with a micro lot to start with though!