And I've got one more question: do both stochastics (m5/m15) should cross level 50 at the same time?
- #130
- Edited 6:46am Aug 25, 2010 6:40am | Edited 6:46am
- | Joined Aug 2010 | Status: Trader | 75 Posts
Hey Snu,
Sounds like you've let someone talk you out of a very good strategy. This is by far the BEST Forex Strategy that I've come across EVER and it WORKS!
This strategy is Killer on 4H Charts. If I wasn't so scary I could probably make 100% returns every 2-3 days trading 4H charts. You really need to bring your focus back to this strategy and spread the love.
In a trending market, rather than waiting on the Stochs to come back through 50, I enter when their overbought/oversold according to trend. Usually when the Stochs are oversold/overbought, according to the trend, prices are right on the trend line
This is basically buying the dips and selling the rallies which is what all professional floor traders do
This is very simple and easy. Your new strategy has way too much going on man to be honest with you.
Follow the Money Train
Sounds like you've let someone talk you out of a very good strategy. This is by far the BEST Forex Strategy that I've come across EVER and it WORKS!
This strategy is Killer on 4H Charts. If I wasn't so scary I could probably make 100% returns every 2-3 days trading 4H charts. You really need to bring your focus back to this strategy and spread the love.
In a trending market, rather than waiting on the Stochs to come back through 50, I enter when their overbought/oversold according to trend. Usually when the Stochs are oversold/overbought, according to the trend, prices are right on the trend line
This is basically buying the dips and selling the rallies which is what all professional floor traders do This is very simple and easy. Your new strategy has way too much going on man to be honest with you.
Follow the Money Train
- #131
- Edited 7:29am Aug 25, 2010 7:18am | Edited 7:29am
- | Joined Aug 2010 | Status: Trader | 75 Posts
Hey Bro,
Another thing, those 1Ms look very sexy with this strategy. They're really good for a 5-10 pip scalp depending on the time of the day. During Volatile hours you can get 10-20 pips scalping.
I use to scalp with a different strategy on 1Ms so after having discovered this strategy I decided, hmm let's see how this thing looks on 1ms. Lo and Behold, a true beauty I like scalping 1Ms because there are so many trends and opportunities throughout the day time, all day actually.
Oh and by the way, this works on ALL PAIRS irregardless of the 15 M Stochs. There are so many opportunities throughout the day time it is ridiculous!!! This is an ATM Snu. Check out the 1Ms buddy. Awesome!
Using 1Ms are ideal ONLY during less volatile times. I would only use 1Ms from 3pmEST-2amEST.
Follow the Money Train!
Another thing, those 1Ms look very sexy with this strategy. They're really good for a 5-10 pip scalp depending on the time of the day. During Volatile hours you can get 10-20 pips scalping.
I use to scalp with a different strategy on 1Ms so after having discovered this strategy I decided, hmm let's see how this thing looks on 1ms. Lo and Behold, a true beauty
I like scalping 1Ms because there are so many trends and opportunities throughout the day time, all day actually.Oh and by the way, this works on ALL PAIRS irregardless of the 15 M Stochs. There are so many opportunities throughout the day time it is ridiculous!!! This is an ATM Snu. Check out the 1Ms buddy. Awesome!
Using 1Ms are ideal ONLY during less volatile times. I would only use 1Ms from 3pmEST-2amEST.
Follow the Money Train!
Hi Mary4x,
Well the thing is, this guy SnuFreak or whatever, seems to have been talked out of a good strategy. This strategy produces at least 50-100 pips a day just on the EU (when it's trending well) add a few more currency pairs and voila!
At first I was using time based charts and I was doing pretty decent with them using this strategy but ever since I converted to range bar charts, I've been killin' it.
Range Bar charts are just simply charts with bars that define a specific range set by you, whether it may be 3 pip, 5 pip, or 15pip. Which ever range suits your trading style. Range bar charts just simply focus on pure price movement consequently allowing better use of indicators. True, indicators are lagging but not in the world of pure price movement, they move according to the price itself and not what has happened on, let's say a 15 minute chart.
One 15 Minute Bar can have a 30-50 pip move.... Why not catch that action? I'm not heavy on indicators but they WORK ABSOLUTELY AMAZING with Range Bar Charts! Whereas with time based using this strategy, you may get 2 signals, with Range Bars, I get at least 4-8 signals a day just on the EU alone.
Let's say that I set the range for the bars to be 10 pips, if prices wanted to stay within that 10 pip range all day, then I'll have that one bar for the day, of course this never happens but to give you an example of how it works. So as you can imagine, it won't have hundreds of candles worth of bs noise that confuses everything as far as seeing the price action.
These charts alleviate the noise associated with time based charts. I can't explain how tradable these charts are, I really can't, it's just something you have to see for yourself. I've been using them for a month now and ever since then I've been avg about 75 pips a day, some days 150 (GBP/USD).
So as you can see, hopefully, Range Bar charts are a cutting edge. The bars only move with the price and price only. At the end of the day that what we're here for right... The price
Just google Range Bar charts for MT4 and the website I got them from should come up, I'm sure I can't advertise soooo.....
Well the thing is, this guy SnuFreak or whatever, seems to have been talked out of a good strategy. This strategy produces at least 50-100 pips a day just on the EU (when it's trending well) add a few more currency pairs and voila!
At first I was using time based charts and I was doing pretty decent with them using this strategy but ever since I converted to range bar charts, I've been killin' it.
Range Bar charts are just simply charts with bars that define a specific range set by you, whether it may be 3 pip, 5 pip, or 15pip. Which ever range suits your trading style. Range bar charts just simply focus on pure price movement consequently allowing better use of indicators. True, indicators are lagging but not in the world of pure price movement, they move according to the price itself and not what has happened on, let's say a 15 minute chart.
One 15 Minute Bar can have a 30-50 pip move.... Why not catch that action? I'm not heavy on indicators but they WORK ABSOLUTELY AMAZING with Range Bar Charts! Whereas with time based using this strategy, you may get 2 signals, with Range Bars, I get at least 4-8 signals a day just on the EU alone.
Let's say that I set the range for the bars to be 10 pips, if prices wanted to stay within that 10 pip range all day, then I'll have that one bar for the day, of course this never happens but to give you an example of how it works. So as you can imagine, it won't have hundreds of candles worth of bs noise that confuses everything as far as seeing the price action.
These charts alleviate the noise associated with time based charts. I can't explain how tradable these charts are, I really can't, it's just something you have to see for yourself. I've been using them for a month now and ever since then I've been avg about 75 pips a day, some days 150 (GBP/USD).
So as you can see, hopefully, Range Bar charts are a cutting edge. The bars only move with the price and price only. At the end of the day that what we're here for right... The price
Just google Range Bar charts for MT4 and the website I got them from should come up, I'm sure I can't advertise soooo.....
