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Trendlines with Heiken Ashi and Stochs System

  • #81
  • Sep 1, 2011 1:57pm Sep 1, 2011 1:57pm
My positions as of now...

Usdchf 1 +162 pips
Usdchf 2 +36

Eurchf +171

Gbpchf 1 +510
Gbpchf 2 +151

Not bad for 2 or 3 days "work".

I've still got entries on euraud, eurcad, audusd and nzdusd which are doing ok but I think these chf pairs are really nice and the reason I keep doing this.
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  • #82
  • Edited 2:56pm Sep 1, 2011 2:09pm | Edited 2:56pm
Hugh
I made 250 pips last night on this system,live!!! A big thanks to you!!
By the way, are you not using TL anymore?
Tony
  • #83
  • Sep 1, 2011 2:51pm Sep 1, 2011 2:51pm
Hi hugh, like your work and as I want to trade the daylies have a few questions;

1. Low - I asume you are you setting orders under prev day low/high.

2. Pending Orders - how far under the low are you placing orders to reduce fakeys

3. % Indy - can you post the indy shown on your chart in top left hand corner a few posts back, looks interesting

Quoting Hugh Briss
Hi, thanks for your positive comments. PA alone is fine and I did use ordinary candles for a long time but I just prefer Heiken Ashi. Yes all indicators definitely do lag but they are ok to use as long as you understand what they are supposed to be telling you. I find stochs one of the better indicators because once you are used to using them they give you information about the trend and the strength of pullbacks within the trend. A good smooth pullback often leads to a good smooth impulse wave.

As for the settings I have been looking into what...
" Dont wait for your boat to come in ..... swim out and meet it"
  • #84
  • Sep 1, 2011 3:20pm Sep 1, 2011 3:20pm
Quoting costa
Hugh
I made 250 pips last night on this system,live!!! A big thanks to you!!
By the way, are you not using TL anymore?
Tony


moving averages are moving trendlines
No man is free who is not a master of himself. -P.M.-
  • #85
  • Sep 1, 2011 5:13pm Sep 1, 2011 5:13pm
Quoting costa
Hugh
I made 250 pips last night on this system,live!!! A big thanks to you!!
By the way, are you not using TL anymore?
Tony
Good to hear you made some pips! I use trendlines but sometimes they are "mental" as in I can see them without marking them.
  • #86
  • Sep 1, 2011 5:18pm Sep 1, 2011 5:18pm
Quoting speedtrip
Hi hugh, like your work and as I want to trade the daylies have a few questions;

1. Low - I asume you are you setting orders under prev day low/high.

2. Pending Orders - how far under the low are you placing orders to reduce fakeys

3. % Indy - can you post the indy shown on your chart in top left hand corner a few posts back, looks interesting
Hi, glad you're liking what I am doing. You are right that I am setting pending orders under the previous days low to get in with the next wave of the trend. I don't worry about fake moves, I just use a 100 pip stop (200 on chf or jpy pairs) and move to break even fairly quickly. If I am wrong I am wrong.

The % indy is a work in progress and does not always work correctly so bear with me and i will release it.
  • #87
  • Sep 1, 2011 5:21pm Sep 1, 2011 5:21pm
Quoting pmullin86
moving averages are moving trendlines
Very true, I like 100 ema and 200 sma. It's not a definite rule but seems to look nice on a chart.
  • #88
  • Sep 1, 2011 5:22pm Sep 1, 2011 5:22pm
Quoting Hugh Briss
Very true, I like 100 ema and 200 sma. It's not a definite rule but seems to look nice on a chart.
i know what you mean i also use the 100 and 200 emas with the addition of the 50...
No man is free who is not a master of himself. -P.M.-
  • #89
  • Sep 1, 2011 5:26pm Sep 1, 2011 5:26pm
Quoting pmullin86
i know what you mean i also use the 100 and 200 emas with the addition of the 50...
The more of us the better ;-)
  • #90
  • Sep 1, 2011 5:37pm Sep 1, 2011 5:37pm
Here is a short trade I took yesterday. +85 pips and counting. I pay attention to the stoch cross momentum. (60-40 levels).
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  • #91
  • Sep 1, 2011 11:18pm Sep 1, 2011 11:18pm
Quoting The7
Here is a short trade I took yesterday. +85 pips and counting. I pay attention to the stoch cross momentum. (60-40 levels).
Nice trade. I posted a chart of that a few days ago with the setup. I'd trail that closely though as you never know when it will snap back and how much further will it go down bearing in mind the huge support not far below? If it breaks that it's going to be a huge trade.

One thing that I like the idea of is taking multiple entries with small positions to "test the water". There are plenty of other threads that trade longer term trends most notably building an equity millipede which I think is an excellent thread. It's especially good if you have a small account. Why not take entries for three days in a row with 0.01 or 0.1 whatever you can bear losing 100 or 200 pips at and get to breakeven and leave it for 3 or 4 weeks?

By the way I closed out all my trades except for the chf pairs.

Gbpchf +546 and +189
Usdchf +194
Eurchf +223

These could run a long way. I'm going to enter more on breaks of support on the 4 hour chart, when it occurs. Also I will trail my stop behind that broken support so it hopefully acts as resistance for a pullback.
  • #92
  • Sep 2, 2011 12:47am Sep 2, 2011 12:47am
I have just placed more pending orders below support, let's see what happens.
  • #93
  • Sep 2, 2011 2:09am Sep 2, 2011 2:09am
Hi Hugh these have been very bearish until this august when debt issues in US and EURO caused a rally back up.

I think as long as we are trading with trend on PWL then should not go far wrong

ST
" Dont wait for your boat to come in ..... swim out and meet it"
  • #94
  • Sep 2, 2011 2:55am Sep 2, 2011 2:55am
Quoting speedtrip
Hi Hugh these have been very bearish until this august when debt issues in US and EURO caused a rally back up.

I think as long as we are trading with trend on PWL then should not go far wrong

ST
That's my thoughts on it. I'm happy to keep taking trades at breaks of s/r until I have 4 or 5 positions at breakeven and then hold them until the daily turns around on the heiken ashi.
  • #95
  • Sep 2, 2011 3:22am Sep 2, 2011 3:22am
Here are current trades from my live account. Currently, I'm up +1600 pips on these pairs. Thanks Hugh .
Eurjpy +175
Eurchf +580
Usdchf +320
Gbpchf +570

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  • #96
  • Sep 2, 2011 4:50am Sep 2, 2011 4:50am
Quoting lgtj
Here are current trades from my live account. Currently, I'm up +1600 pips on these pairs. Thanks Hugh .
Eurjpy +175
Eurchf +580
Usdchf +320
Gbpchf +570
Nice charts, nice trades!

Consider taking more entries. Once you have one at break even the rest are easier. I'm starting to use lower timeframes to "load up" these trends. You could get 4 or 5 entries open for small risk and then just hold them for the long term.

Trail the stops on those and don't consider closing until the daily shows weakness. In fact if you trail behind the top of the first green candle you shoudln't get shaken out by a small pullback.

Glad to see someone has been putting this into practice to positive effect and shown the patience required.
  • #97
  • Sep 2, 2011 4:55am Sep 2, 2011 4:55am
What direction do you want to trade this and when? Just a heads up, nothing set in stone.
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  • #98
  • Sep 2, 2011 4:57am Sep 2, 2011 4:57am
The biggest point about the above post is to constantly take into account the higher timeframes and work down until you see something tradeable. Monthly, suggests down. Weekly, suggests down. Daily, is down. H4, pulling back, could I sell that a bit higher? Maybe, then maybe trail it on the daily or even weekly. A lot of maybes in trading but nothing lost by just looking and using logic.
  • #99
  • Sep 2, 2011 4:59am Sep 2, 2011 4:59am
Hi Hugh,
Just wanted to say thanks for a very nice and straight forward thread. Your explanations of things are very clear. Good luck with your trades ( I,m in most of them as well)

Take Care
Jay
Always Learning
  • #100
  • Sep 2, 2011 5:03am Sep 2, 2011 5:03am
Quoting JayTrader
Hi Hugh,
Just wanted to say thanks for a very nice and straight forward thread. Your explanations of things are very clear. Good luck with your trades ( I,m in most of them as well)

Take Care
Jay
Hi Jay, thanks for the post, I appreciate your time.
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