The 1hr stocastics is still in sell mode so it would be bad to take a long trade. It would be good to concentrate on 1 hr stocastics for short term trades. Also the nearby peak and trough could be a good stoploss.
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Then from now on I will work with the 1 hr stochastic and if the 4 hr stochastic is going in the same direction then it will be a perfect set up.
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Joined Nov 2008
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Status: Trade like a mercenary guerrilla
|62 Posts
Dehyah,
The stocastic indicators are in live dynamic mode so the 1hour stocastics can change color in 12 bars it requires to complete the bar. Similarly the 4 hour bar requires 48 bars to complete and its dynamic throughout. I would suggest the nearest trough or peak as stoploss to protect capital. If u notice if u follow the rules u have more positive trades and less trades which go against.
Did not fail. If you looked at the pips available by the width of the TMA, the trade was a success. There was only about an 18 pip spread between the high and the low of the TMA.
syste looks good, but I read so little on SL you guys use, where do you set it, do you used a fixed SL. Please help me on this.
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Money management is very important, otherwise you will end up blowing your account. Even with a good system like this you will have bad trades.
The art of trading is to minimize your losses and maximize your profits.
I use predifined scripts in Metatrader with set SL en TP. Works well and is very fast (1 click) to open and close a trade. You will never forget to put a SL because it's incorporated in the script.
Did not fail. If you looked at the pips available by the width of the TMA, the trade was a success. There was only about an 18 pip spread between the high and the low of the TMA.
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but a mom trade is supposed to be more than other side band?
Kevinator 5m retracement-Live trading
