i'm taking this trade
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- #57
- Aug 13, 2008 9:17am Aug 13, 2008 9:17am
- | Commercial User | Joined Sep 2005 | 2,784 Posts
So.. i can say that this was a very good trade! 
- #59
- Aug 13, 2008 10:10am Aug 13, 2008 10:10am
Plot it on a chart. The indi is based on a simple 30/10/10 with 80/20 areas. The bars can be green or red the entire distance from top to bottom and vice versa -- which is why you're adding to trades when they go against you. Wouldn't it be more accurate to wait for the red bars for a short, or green for a long?
but if you test back and see that this is a better option then do let us know
2. We are just using Stochs as a second confirmation. You can purley trade just using the squidster1 and squidster2 indicators. but i prefer stochs too.
- #60
- Aug 13, 2008 1:33pm Aug 13, 2008 1:33pm
- | Joined Jun 2006 | Status: Trader | 1,050 Posts
Here's the position of the stochs in the gbpchf trade. You can see the colored bars can be red or green all the way from os to ob.
As for your #2, you're actually not using the stochs for confirmation, IMHO. Stochs can remain os or ob for several hundred pips, which is why zz's repaint. If you were using stochs as a confirmation, wouldn't you at least want them to signal that you're going in the planned direction? Which would be red for short and green for long.
Just my 2 cents, but you'd have less need for add ons if you waited.
And for anyone interested, this is very similar to the bouncing pips or follow the dots strategy, both of which use zz's and trade on H4 charts.
As for your #2, you're actually not using the stochs for confirmation, IMHO. Stochs can remain os or ob for several hundred pips, which is why zz's repaint. If you were using stochs as a confirmation, wouldn't you at least want them to signal that you're going in the planned direction? Which would be red for short and green for long.
Just my 2 cents, but you'd have less need for add ons if you waited.
And for anyone interested, this is very similar to the bouncing pips or follow the dots strategy, both of which use zz's and trade on H4 charts.
umm...u can try but i dont think you will find many profitable trades. by the time you see red, price is already oversold.
but if you test back and see that this is a better option then do let us know
2. We are just using Stochs as a second confirmation. You can purley trade just using the squidster1 and squidster2 indicators. but i prefer stochs too.
