Thanks for posting back man...thought I was out here on a limb on my own.
Im just here to learn, nothing more, no ego to damage....your input is greatly appreciated...let me take a look at your last posts...although its Saturday morning here around 1230am...
Heres my take on the E/A trade...you have posted, and I guess its where I need to grow a set....
The Daily is turning up ( both Stoch and CCI but its in a downtrend...clearly.
How do you determine when a trade is good going in the oppo from the daily like this one....just curious..as clearly on the 4H it looks like a good short..
Heres my take on the E/A trade...you have posted, and I guess its where I need to grow a set....
The Daily is turning up ( both Stoch and CCI but its in a downtrend...clearly.
How do you determine when a trade is good going in the oppo from the daily like this one....just curious..as clearly on the 4H it looks like a good short..
My 4H chart....just to confirm were looking at the same thing....
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The downtrend is strong enough on the daily to go with what the 4 hour is saying. Overall I prefer taking trades on the daily which would mean waiting for the stochs etc to turn on the daily and the HA to change. The 4 hour just gets you in earlier and the only way you can do this is if the trend is strong enough.
I was looking for your explanation, but where I can found the indictors which u using in you chart, thanks
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Use the search bar at the top of the page for "cci histogram". Sjr is using a 6 period cci to give a similar reading to the TDI indicator (search that too, it's at the start of the "trading made simple" thread).
Just under 60 pips up after 4 hours, not bad. I won't move to break even yet in case it spikes up before it carries on. I'll wait til it's 100 pips up before I move to BE.
Sjr, another point I forgot to mention is the 1.25 round number. The price didn't bounce off it but it did turn close enough for me to put my stop 25 pips behind it. I've now got at least one barrier between my stop and the price. It doesn't mean it won't get stopped out, it justs give me that barrier.
Use the search bar at the top of the page for "cci histogram". Sjr is using a 6 period cci to give a similar reading to the TDI indicator (search that too, it's at the start of the "trading made simple" thread).
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Sjr,
thanks ,I will try yo found it, what about the SSTO.
I've sold this eurjpy as well just before the weekend. The jpy weakened somewhat this week but seems to be fighting back, also the eur is just going sideways with a good chance of dropping lower so eurjpy seems like a good pair to be short, also the stochs and HA line up too. The stop is only 75 or so pips away behind the 100 round number. This is one that I will move to break even quite quickly if I get the chance. Euraud trade is now 70 pips up.
Great work on that call.
I can only hope to be that good one day.
Its Sat am here so done for the week, with some home work to do..(study Charts) !! I believe this system you introduced here is really good, I just need to practice it more to gain confidence and experience..
Great work on that call.
I can only hope to be that good one day.
Its Sat am here so done for the week, with some home work to do..(study Charts) !! I believe this system you introduced here is really good, I just need to practice it more to gain confidence and experience..
Have a great weekend..
SR
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Thanks mate, I only just realised that I called a possible trade about an hour before it came up! There's no mystery to it, it's all there in the charts. The one thing that really helps and that I might not have mentioned before is looking at the major pairs to determine the best cross. Earlier I looked at gbpusd (wouldn't have worked out by the way), eurusd (just went sideways) and euraud. What made euraud stick out was that eur was looking weaker than aud and I initially thought both would go down. In fact eur went nowhere and aud pushed up further but either way the technical analysis on euraud was correct, the stochs and the HA called it, I was just selective in the pair I chose for the reasons mentioned. This is definitely a trial and error thing but I find myself doing it more and more automatically these days. Have a good weekend.
Thanks for the reply Hugh.
I looked at the G/U potential trade that you decided not to get in on.
Turned out you made a great call. The thing that I want to develop is to use good sound TA using the usual suspects, PA, Trend lines Support resistance etc.
But, as I dont have a third eye yet as to how the markets move, and I believe some people do, I need another indicator, or system that helps me stay on the right side of the trade. your clean charts and use of TL with Stochs is just what Im currently looking for.
I believe the TDI (cci 6) really compliments your system using the HA candles.
However, I have been faked out a few times using the Stochs by themselves, and found the cci 6 can help confirm if its a valid signal to get into the market.
See the attached chart that I drew up, confirming your decision not to get into the G/U..
Id really like to hear your opinion, also, if you think it starts to complicate things more, Ill gladly step aside to let this thread develop on its own in respect to you .
Cheers
Heres another you were looking at.
Both the cci 6 and Stochs crossed but prices havent followed thru ..yet.
Im thinking, maybe I need another confirmation other than the cross.
Im looking at only entering a trade after a cross, and only when prices break the previous candles low/high.
That means prices have to be moving in the right direction to be filled.
Also the chart shows no TL break, another clue as to not getting in...
eur/aud trade so far with some comments...Im a newbie so take with pinch of salt...lol.
TL broken, CCI 6, Stoch crossed. In a downtrend...looks like a good start.
Thanks for the reply Hugh.
I looked at the G/U potential trade that you decided not to get in on.
Turned out you made a great call. The thing that I want to develop is to use good sound TA using the usual suspects, PA, Trend lines Support resistance etc.
But, as I dont have a third eye yet as to how the markets move, and I believe some people do, I need another indicator, or system that helps me stay on the right side of the trade. your clean charts and use of TL with Stochs is just what Im currently looking for.
I believe the TDI (cci 6) really...
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I can see your point, on this occasion it would have worked out but then there will be plenty of times when it keeps you out of a good trade.
I'm happy for you to discuss and use any indicator you like as long as it makes you money. This is a thread about a particular system or maybe more a style of trading but it's not set in stone and even my ideas about things change over time even though the core system stays the same.
I think you will find over time that you need the indicators less and less. If you look at the best trends it is possible to call the turns just using the heiken ashi. As long as your money management is correct then over time you will make money because when you loses you are losing maybe 100 or 150 pips (on h4 or dailies) and when you win you are winning 100, 200, 400+ per trade. Assuming you only win 40% of your trades you're still quids in.
The probability call comes when you get a HA change somewhere near a s/r level in the direction of the main trend. Trendlines, stochs, cci, don't really improve your probability that much, it's the location and the direction that matter and then risking 1 or 2% per trade.
Trailing your stop fairly loosely is what can make the difference between getting stopped out halfway through a good move or catching the majority of the move and that in itself will make a massive difference to your ongoing P+L.
Trendlines with Heiken Ashi and Stochs System
