2nd dotted line; I missed this one, as I am waiting for STOCH to move closer to OS. But it did not and it shut up abt 15p before pulling back.
3rd dotted line (L1); Checked M5 after PA pullback at M1, noticed M5 UT still intact. Took long @1.43959 as PA pullback to 12EMA and STOCH close to OS. Too bad PA continue south and out at 1.43872 with -8.7p.
4th dotted line (L2); Checked M5, UT still intact. Took long again @1.43945 as STOCH crossing upward from OS. Close 70% at 1.44111 (+16.6p) and close balance 30% at 1.44090 (+14.5p).
Total returned for the day is 1.45% and am I done for the day? or shd I keep monitoring and look for the perfect trade???
My mind keep thinking of what hmaoui said:
Trading is a probability game
and Live to trade, not trade to live
I may not trade when I am not behind my computer or because I was not here. But I prefer to trade rather than chatting !!! Understand me !!! So as I trade mainly on 1mn and 5mn TF, my trade could be closed before I post....that's normal
Ignored
Hi! Do you consider when you buy 5 minutes to 1 minute?
Nice system hmaoui thanks for sharing, just finished reading it over the last week or so.
Got to love the 1 and 5 minute charts.
I trade a similar thing its more momentum based tho.
I will keep a eye on this I like it.
Will post a chart or 2 see if I have this thing correct.
My problem is that it seems to me that the stochastics and ADX/DMI contradict each other.
When ADX/DMI shows the instrument is ranging (<20)m stochastics will show overbought/oversold conditions and a lot of good trades can't be taken because a lack of agreement between the 2 indicators.
ie. After a big move, ADX/DMI will show trending currency (>20, +DI/-DI) in opposite direction of the MA's trend and will conflict with stochastics as well (ie. oversold/crossover/etc.).
Maybe it's just me and I need some work with the system? I can really only trade for like 2 hours a day and it needs to be relatively early in the night (so essentially the asian session is the best for me).
Please strictly follow the rules !!! DMI is here just to confirm the trend !!! And dont forget this is a trending system yu not have to use during flat period. If you dont see any trend on your TF, so dont trade this system. When you see a trend (lookt at your EMAs or just price), then you want to buy at the right level. To confirm the trend you can use the DMI and then look at your oscillator (Sto) to buy at the right level. Once an up trend is established for example, then you confirm the trend with DMI, and you buy dips thanks to Stochastics. It is as simple ! Hope you understand.
My problem is that it seems to me that the stochastics and ADX/DMI contradict each other.
When ADX/DMI shows the instrument is ranging (<20)m stochastics will show overbought/oversold conditions and a lot of good trades can't be taken because a lack of agreement between the 2 indicators.
ie. After a big move, ADX/DMI will show trending currency (>20, +DI/-DI) in opposite direction of the MA's trend and will conflict with stochastics as well (ie. oversold/crossover/etc.).
Maybe it's just me and I need some work with the system? I can really only...
Price are testing the PP level : will it break or not ? If it is a support we can initiate a long position (after a valid pullback), and if it breaks, we can initiate a short (after a valid pullback to confirm the PP is now a resistance).
