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Trendlines with Heiken Ashi and Stochs System

  • #181
  • Jan 20, 2012 3:21pm Jan 20, 2012 3:21pm
Quoting Sjr
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...

Just some thoughts...

SR
This "confirmation" thing is woolly thinking. If your basic criteria are met then take the trade. You will never be able to "filter out" all losing trades but stop being so afraid of losing trades. Accept that you will have losers and keep them small.
  • #182
  • Jan 20, 2012 3:23pm Jan 20, 2012 3:23pm
Quoting Sjr
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.

will be curious to see how it unfolds...

Cheers

SR
I'm not sure what you are basing that 2nd trendline on? It doesn't seem to connect anything? I would worry less about the trendline break on these trades, let the HA change and the stochs get you into these trades and then just put a stop loss just above the top of the last move or behind s/r or whatever.
  • #183
  • Jan 20, 2012 3:35pm Jan 20, 2012 3:35pm
I see what you mean at first glance re TL 2.
Basically I draw a TL back from the low 4H bar when closed until it connects with the last major swing low point. (opposite for uptrend)
This is what I call an outer TL, meaning there's nothing below it i.e another up trending TL for prices to run into.
For me if prices pass thru both the low of the confirming 4H candle and the TL
it can/may lead to a run to the downside....having said that prices have already moved some distance and therefore maybe some profits.
The TL 1 is just looking at when prices start stalling and drawing a TL backwards from there.
Sometimes dropping down onto the 1h Chart can help ID these areas well.

Well, its time for me to go and do some gardening....(hate Gardening)..hope everyone has a great weekend, and thanks againg Hugh !!

Cheers

SR
  • #184
  • Jan 23, 2012 12:23am Jan 23, 2012 12:23am
Euraud +112, Eurjpy +16
  • #185
  • Jan 23, 2012 12:38am Jan 23, 2012 12:38am
I've locked in 50 pips on Euraud to be on the safe side. I will take half profit at just above the last swing low at 1.2225. That will be nearly 200 pips.

I will move Eurjpy to break even at 20 or 30 pips up, it's a more volatile pair and I don't want to lose my euraud gains on the other trade.

Once I have no trades "at risk" then I can take another trade, according to my trading rules. I'll update later.
Attached Image (click to enlarge)
Click to Enlarge Name: euraud 23rd jan 2012 06.30.gif Size: 14 KB
  • #186
  • Jan 23, 2012 1:14am Jan 23, 2012 1:14am
Eurjpy to BE. Nothing appeals at the 7am close of my brokers 4 hour candle so I'll wait til 11am.

Audusd looks very interesting just below 1.05. Have to see what happens.
  • #187
  • Edited 4:29am Jan 23, 2012 1:17am | Edited 4:29am
Hugh,

That trade above gives me confidence that your system works.
Its simple, clean and very little in the way to misinterpret what your loking at.
I know not every trade will be a winner, but the important thing for me is Im slowly getting to understand it, and trust it.

Im travelling for work until tomorrow, but will check in to see how things unfold.

If theres any newbies/lurkers out there please jump in and give comment, post charts as we all learn from everyones involvement.

Cheers

SR
  • #188
  • Jan 23, 2012 2:14am Jan 23, 2012 2:14am
Quoting Sjr
Hugh,

That trade above gives me satisfaction that your system works.
Its simple clean and very little in the way to misinterpret what your loking at.
I know not every trade will be a winner, but the important thing for me is Im slowly getting to understand it.

Im travelling for work until tomorrow, but will check in to see how things unfold.

If theres any newbies/lurkers out there please jump in and give comment, post charts as we all learn from everyones involvement.

Cheers

SR
Thanks SR, I'm glad you think my system works

Seriously though, you are right, it really is obvious when a trade SHOULD work out. You've just got to learn how to play it. The pips are there for the taking and for the losing. Once you start doing more of the first and less of the second then you've got it.

Have a good day travelling.
  • #189
  • Jan 23, 2012 2:15am Jan 23, 2012 2:15am
Out at BE on eurjpy, looks like eurxxx are heading up for a bit. I'll hold euraud open as I have pips locked.
  • #190
  • Jan 23, 2012 2:43am Jan 23, 2012 2:43am
hi hugh, any update regarding your smaller timeframe? your startegy is simple and effective
botsog
  • #191
  • Jan 23, 2012 3:17am Jan 23, 2012 3:17am
Quoting botsog
hi hugh, any update regarding your smaller timeframe? your startegy is simple and effective
Yes, here...

http://www.forexfactory.com/showthread.php?t=314304

It's another nice simple system but you need time and patience to trade it. I laid out the system and then didn't carry it on due to other projects but it's a good system.
  • #192
  • Jan 23, 2012 3:49am Jan 23, 2012 3:49am
thank you for sharing your knowledge hugh. hope this helps me to be in the right path and be successful in trading. thanks again
botsog
  • #193
  • Jan 23, 2012 3:54am Jan 23, 2012 3:54am
GbpCad looking very interesting. Have to wait an hour for the candle close.

Usdcad is heading down, stochs high and falling, Gbpusd is the same so Gbpcad SHOULD work out as a good sell opportunity.
  • #194
  • Jan 23, 2012 4:36am Jan 23, 2012 4:36am
I cant pull up any charts right now as Im checking in remotely.
But I have to say, this system that Hugh has put forward can make $ if followed closely.

Keep up the good work Hugh, as I know theres lots of good info here for people to make pips..

Cheers
SR
  • #195
  • Jan 23, 2012 5:03am Jan 23, 2012 5:03am
Thanks SR.

Gbpcad opened and gone straight into profit. Let's see how this one works out.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpcad 23rd jan 2012 11.00.gif Size: 18 KB
  • #196
  • Jan 23, 2012 5:07am Jan 23, 2012 5:07am
Quoting botsog
thank you for sharing your knowledge hugh. hope this helps me to be in the right path and be successful in trading. thanks again
I'm glad to have helped. If you need anything else just PM or post here.
  • #197
  • Jan 23, 2012 5:12am Jan 23, 2012 5:12am
Locked in 75 pips on euraud, like I said earlier all eurxxx pairs turning up so senseless to let more than that go.
  • #198
  • Jan 23, 2012 5:27am Jan 23, 2012 5:27am
50 pip stop on gbpcad by the way.
  • #199
  • Jan 23, 2012 7:28am Jan 23, 2012 7:28am
Euraud stopped out +75 pips. Gbpcad floating around +20.
  • #200
  • Jan 23, 2012 8:02am Jan 23, 2012 8:02am
Gbpcad +32 pips so moved to break even. Nothing at risk now so I can watch for another trade.
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