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Attachments: Trendlines with Heiken Ashi and Stochs System
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Trendlines with Heiken Ashi and Stochs System

  • #341
  • Feb 3, 2012 12:31am Feb 3, 2012 12:31am
I agree with the eurusd analysis. First though remember that everything will pretty much go sideways until after nfp. Things should settle down for the 4 hour candle close after that so we can probably take a trade. Don't forget also that gbp and eur are correlated at least to some extent.

Trading daily charts needs around a 200 pip stop which sounds a lot but obviously you will have a reduced position size and the gains will be much higher. Trailing the stop properly can keep you in for 500 to 2000 pip moves. It's just a question of patience. I think the 50/50 approach on 4 hour (or 2 hour) charts seems to be working fine.
  • #342
  • Feb 3, 2012 12:59am Feb 3, 2012 12:59am
Quoting Hugh Briss
I agree with the eurusd analysis. First though remember that everything will pretty much go sideways until after nfp. Things should settle down for the 4 hour candle close after that so we can probably take a trade. Don't forget also that gbp and eur are correlated at least to some extent.

Trading daily charts needs around a 200 pip stop which sounds a lot but obviously you will have a reduced position size and the gains will be much higher. Trailing the stop properly can keep you in for 500 to 2000 pip moves. It's just a question of patience....
noted n thanks hugh.....
Peace Yo!
  • #343
  • Feb 3, 2012 3:33am Feb 3, 2012 3:33am
Quoting mrluckystar
hi hugh,

found setup at gu....
post open at 1.5814....
target tp is 50 pip...
update1:
currently price at +30pip....
move sl to BE..
Peace Yo!
  • #344
  • Feb 3, 2012 7:13am Feb 3, 2012 7:13am
Quoting mrluckystar
update1:
currently price at +30pip....
move sl to BE..
update2:

sl hit at +1pip...

hurrrmmmmm.....
Peace Yo!
  • #345
  • Feb 3, 2012 9:06am Feb 3, 2012 9:06am
hi hugh,

i see setup au...
buy stop at 1.0760....

any comment or opinion are welcome....
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: capture_31.png Size: 94 KB
Peace Yo!
  • #346
  • Feb 3, 2012 9:28am Feb 3, 2012 9:28am
Quoting mrluckystar
hi hugh,

i see setup au...
buy stop at 1.0760....

any comment or opinion are welcome....
Maybe the stochs are already a little too high? To continue up it needs to break another level of resistance. It may do this or it may not.
  • #347
  • Feb 3, 2012 9:49am Feb 3, 2012 9:49am
Quoting mrluckystar
hi hugh,

i see setup au...
buy stop at 1.0760....

any comment or opinion are welcome....
buy post open at 1.0760....
target tp 50 pip... hopefully....

Peace Yo!
  • #348
  • Feb 3, 2012 9:51am Feb 3, 2012 9:51am
Quoting Hugh Briss
Maybe the stochs are already a little too high? To continue up it needs to break another level of resistance. It may do this or it may not.
noted hugh...
i will becareful with this trade...

thanks..
Peace Yo!
  • #349
  • Feb 3, 2012 11:47am Feb 3, 2012 11:47am
Quoting mrluckystar
buy post open at 1.0760....
target tp 50 pip... hopefully....

update1:
currently price at +28pip...
move sl to +1pip...

hopefully will hit tp....
Peace Yo!
  • #350
  • Feb 3, 2012 12:31pm Feb 3, 2012 12:31pm
Mr L are you using 2H charts for spotting trades ?
  • #351
  • Feb 3, 2012 1:58pm Feb 3, 2012 1:58pm
Quoting Sjr
Mr L are you using 2H charts for spotting trades ?
From the screen shots I believe so.
  • #352
  • Feb 3, 2012 2:25pm Feb 3, 2012 2:25pm
SR and Mr L, you two and I are the main contributors to this thread. The system described at the beginning of the thread has changed a little, there are some new ideas regarding how to take trades and money management. Do you think I should start a new thread explaining the current system better from the start and then we can all contribute further ideas there? Or do you think we should just keep this one and I can update the first post to point to a post with a new explanation of the system there?
  • #353
  • Edited 2:53pm Feb 3, 2012 2:29pm | Edited 2:53pm
yes it looks like it....Is that what you mean by 50/50 ?
I noticed there were some trades heree recently also that were BE so
I decided to relook at tyhe trade I took the 33 pip loss on.

Ive added the 100 sma. It still looked like it was going down in the immediate TF I was following. Also, I gave up about 33 pips before it reversed and Stopped me out for a loss.

I suppose in hindsight, the trade did go as I had thought, but was poorly managed. I should consider taking quicker profits say at 25 pips, consider move SL to BE and let the rest run....

Heres the updated chart, sorry its a bit congested. There were a few other crosses of CCI/Stoch but not all worked out.

Im still trying to work out how to impliment this system....

SR
Attached Image (click to enlarge)
Click to Enlarge Name: EUR%2FJPY--60 Minute.jpg Size: 142 KB
  • #354
  • Feb 3, 2012 3:05pm Feb 3, 2012 3:05pm
Quoting Sjr
yes it looks like it....Is that what you mean by 50/50 ?
I noticed there were some trades heree recently also that were BE so
I decided to relook at tyhe trade I took the 33 pip loss on.

Ive added the 100 sma. It still looked like it was going down in the immediate TF I was following. Also, I gave up about 33 pips before it reversed and Stopped me out for a loss.

I suppose in hindsight, the trade did go as I had thought, but was poorly managed. I should consider taking quicker profits say at 25 pips, consider move SL to BE and let the rest...
I meant 50/50 as in 50 take profit and 50 stop loss.

Yes, the trendline was down on the tf you were looking at, in that case it's just one of those things.

I have been moving to +1 pip after 25 pips and had one winner for +50 and about 5 stopped out at +1 which is frustrating but when you consider that I have had no losses it is pretty good. Maybe this week has been a little unpredictable or maybe the signal we are following is good for 25 pips more often than not and 50 pips only sometimes? In my head I still like the idea of trailing the stop behind a long move and getting an outstanding risk/reward but I do also like the idea of a 1:1 r/r and a getting in and out with a high probability quick profit. I'm all for testing both approaches on a simulator and forward testing on demo or small live account and see which is most profitable.
  • #355
  • Feb 3, 2012 3:11pm Feb 3, 2012 3:11pm
Quoting Hugh Briss
I meant 50/50 as in 50 take profit and 50 stop loss.

Yes, the trendline was down on the tf you were looking at, in that case it's just one of those things.

I have been moving to +1 pip after 25 pips and had one winner for +50 and about 5 stopped out at +1 which is frustrating but when you consider that I have had no losses it is pretty good. Maybe this week has been a little unpredictable or maybe the signal we are following is good for 25 pips more often than not and 50 pips only sometimes? In my head I still like the idea of trailing the stop...
Thats a good call there Hugh.
I think Ill take another look at my trade selection, look to get out at 25 pips, SL to BE and trail ? accordingly....see how that goes
  • #356
  • Feb 3, 2012 3:14pm Feb 3, 2012 3:14pm
Quoting Hugh Briss
SR and Mr L, you two and I are the main contributors to this thread. The system described at the beginning of the thread has changed a little, there are some new ideas regarding how to take trades and money management. Do you think I should start a new thread explaining the current system better from the start and then we can all contribute further ideas there? Or do you think we should just keep this one and I can update the first post to point to a post with a new explanation of the system there?

I sent you a PM about this...
  • #357
  • Feb 3, 2012 3:15pm Feb 3, 2012 3:15pm
Quoting Sjr
Mr L are you using 2H charts for spotting trades ?
hi sjr...

if you notice... im always post 2 chart....

chart 1.
heiken ashi (HA) chart.....
im using 2 hour tf for this chart... reason.. i want to get faster singnal for my entry (instead wait 4 hrs bar to close, im waiting for 2 hrs only)....
at this chart i need confirmation of stoch cross and HA bar signal of turning...

chart 2.
candlestick chart....
im using 4 hoir for this chart...
this chart determine the trend (100sma rule) and...
here i also can see reliable setup of cs such as inside bar setup, fakey inside bar setup and pin bar...

so far... this 2 chart are reliable to me....

any comment and opinion are welcome...

regards.
Peace Yo!
  • #358
  • Feb 3, 2012 3:17pm Feb 3, 2012 3:17pm
Quoting Sjr
Thats a good call there Hugh.
I think Ill take another look at my trade selection, look to get out at 25 pips, SL to BE and trail ? accordingly....see how that goes
I'll try and run some different ideas through the simulator this weekend and see what comes up. The trouble is I will probably have to do it tick by tick which is very slow and cumbersome. I think some forward testing will have to be done and good recording and analysis of the results will give us the answer.
  • #359
  • Feb 3, 2012 3:19pm Feb 3, 2012 3:19pm
Quoting mrluckystar
hi sjr...

if you notice... im always post 2 chart....

chart 1.
heiken ashi (HA) chart.....
im using 2 hour tf for this chart... reason.. i want to get faster singnal for my entry (instead wait 4 hrs bar to close, im waiting for 2 hrs only)....
at this chart i need confirmation of stoch cross and HA bar signal of turning...

chart 2.
candlestick chart....
im using 4 hoir for this chart...
this chart determine the trend (100sma rule) and...
here i also can see reliable setup of cs such as inside bar setup, fakey inside bar setup and pin bar......
I like the 2 chart approach and the 2 hour tf does get you in quicker and so far doesn't seem to impact probability too much.

Please keep going and posting charts Mr L, your input is very welcome.
  • #360
  • Feb 3, 2012 3:23pm Feb 3, 2012 3:23pm
Quoting mrluckystar
update1:
currently price at +28pip...
move sl to +1pip...

hopefully will hit tp....
update2:
stop out at +12pip...
dont want to carry over weekend....

a tough day of trading..... nfp of course....
Peace Yo!
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