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Swing trading with heiken ashi and stochs

  • #541
  • Mar 3, 2012 10:28am Mar 3, 2012 10:28am
Hi all, back from holiday.

A lot of countertrend trading going on... Can I suggest that if you are trading against the trend because the turn looks smooth enough then maybe switch to a lower timeframe and look for a clear trend there (against the overall trend in the higher timeframe). That way you will be using a smaller stop loss and more realistic take profit.

Looking forward to Monday, see you then.
  • #542
  • Mar 4, 2012 6:37pm Mar 4, 2012 6:37pm
Quoting Hugh Briss
Hi all, back from holiday.

A lot of countertrend trading going on... Can I suggest that if you are trading against the trend because the turn looks smooth enough then maybe switch to a lower timeframe and look for a clear trend there (against the overall trend in the higher timeframe). That way you will be using a smaller stop loss and more realistic take profit.

Looking forward to Monday, see you then.
hi hugh,

welcome back....
lets make some money...

regards.
Peace Yo!
  • #543
  • Mar 4, 2012 11:16pm Mar 4, 2012 11:16pm
Quoting mrluckystar
hi hugh,

welcome back....
lets make some money...

regards.
Hi Mr L, let's do it!

What were your trades for last week?

I'm watching chf pairs for possible downtrends this week and aud pairs looking weak.
  • #544
  • Mar 5, 2012 12:22am Mar 5, 2012 12:22am
Quoting Hugh Briss
Hi Mr L, let's do it!

What were your trades for last week?

I'm watching chf pairs for possible downtrends this week and aud pairs looking weak.
hi hugh,
most of my trade lasr week is counter trend...

ucad look interesting...

regards.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: capture_59.png Size: 85 KB
Peace Yo!
  • #545
  • Mar 5, 2012 1:12am Mar 5, 2012 1:12am
Quoting mrluckystar
hi hugh,
most of my trade lasr week is counter trend...

ucad look interesting...

regards.
Yes, usdcad interesting.
  • #546
  • Mar 5, 2012 1:55am Mar 5, 2012 1:55am
Quoting grovsnus
I'm long UCAD at 0.9875, countertrend I know but we'll see.
SL -50
Closed this +35. Stochs a bit too high.
Swedish steel!
  • #547
  • Mar 5, 2012 3:03am Mar 5, 2012 3:03am
Hi Hugh,

I've read somewhere that a good trading system always fits into a matchbox. I think yours definitely does.
Possible trade on USDCHF soon? There is a strong downtrend on 4h chart and looks like weakening the countertrend. However price is above the 100 SMA...
What do you think?
  • #548
  • Mar 5, 2012 6:29am Mar 5, 2012 6:29am
Quoting tom2009
Hi Hugh,

I've read somewhere that a good trading system always fits into a matchbox. I think yours definitely does.
Possible trade on USDCHF soon? There is a strong downtrend on 4h chart and looks like weakening the countertrend. However price is above the 100 SMA...
What do you think?
Yep, usdchf needs more time. Yen pairs look best for long trades at the moment.
  • #549
  • Mar 5, 2012 7:05am Mar 5, 2012 7:05am
Just sold this pr @.9932, TP is the 100ma & SL at last/nearest swing high. 15M confirmed the downward move.
  • #550
  • Mar 5, 2012 7:39am Mar 5, 2012 7:39am
Quoting Hugh Briss
Yep, usdchf needs more time. Yen pairs look best for long trades at the moment.
Caught a few JPY longs since your post. All in all 119.6 pips :-) .. I was aiming for 50 pips each but got scared since it started falling lol...

Anyway, this system is very good. Next time I will try controlling my fingers from closing trades too early but still can't complain from green pips.
  • #551
  • Mar 5, 2012 7:48am Mar 5, 2012 7:48am
Btw, Mr L, I've been reading your posts in this thread and I can see that you trade with no .. you know what I mean. How do you control yourself? Obviously I'm still too noob in this thing since I started trading forex for 2 months only. I'm practicing live with 0.01 lot since demo does not help me at all.

I've been using this system for a month now and so far I have been pretty much profitable. Few losses here and there but I regain the losses after a few days.

This is a great system Hugh , very NOOB friendly
  • #552
  • Mar 5, 2012 7:57am Mar 5, 2012 7:57am
Quoting johnnydus3d
Btw, Mr L, I've been reading your posts in this thread and I can see that you trade with no .. you know what I mean. How do you control yourself? Obviously I'm still too noob in this thing since I started trading forex for 2 months only. I'm practicing live with 0.01 lot since demo does not help me at all.

I've been using this system for a month now and so far I have been pretty much profitable. Few losses here and there but I regain the losses after a few days.

This is a great system Hugh , very NOOB friendly...
Hi Johnny, good to hear your doing ok with the system. As for closing trades too early, either set a take profit and move to break even after 50% of your take profit is reached (ie 50 pip tp, move to BE after 25 pips) or don't set a tp and just trail the stop manually behind each candle until you are stopped out. Try both methods and see which one you prefer. When you catch a big trade you will enjoy trailing the stop. When you get stopped out prematurely during a good trend you will hate trailing your stop. It's swings and roundabouts!
  • #553
  • Mar 5, 2012 8:05am Mar 5, 2012 8:05am
Eurusd 1 hour looking interesting. Eurjpy looking similar but with a more extreme move.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd 5th march 2012 14.05.gif Size: 17 KB
  • #554
  • Mar 5, 2012 8:08am Mar 5, 2012 8:08am
Usdcad not going to be ready for another 4 hours by the look of it.
  • #555
  • Mar 5, 2012 8:14am Mar 5, 2012 8:14am
Just went long with this pr @1.5870 & I might be a little late. 50 pip SL & TP. Stochs have a great upward angle. The eur/usd looks pretty good too on the 4H but price is below both moving averages, which are flat, and there is a s/r zone off to the left that might slow things down also.
  • #556
  • Mar 5, 2012 8:14am Mar 5, 2012 8:14am
I really like this chart. 45 mins to go til the candle close but could be a heiken ashi doji. The stoch cross doesn't look very smooth but I think it is a valid trade.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy 5th march 2012 14.15.gif Size: 17 KB
  • #557
  • Mar 5, 2012 8:25am Mar 5, 2012 8:25am
Here's a good one, just setting up now. Audusd m30.
Attached Image (click to enlarge)
Click to Enlarge Name: audusd 5th march 2012 14.25.gif Size: 18 KB
  • #558
  • Mar 5, 2012 8:31am Mar 5, 2012 8:31am
Trade taken. Nice HA doji. 30 pip stop, moving to +1 after 15 pips.
Attached Image (click to enlarge)
Click to Enlarge Name: audusd 5th march 2012 14.30.gif Size: 19 KB
  • #559
  • Mar 5, 2012 10:31am Mar 5, 2012 10:31am
Audusd at break even but floating around 12 pips up. The next 30 min candle will make or break it.
  • #560
  • Mar 5, 2012 3:23pm Mar 5, 2012 3:23pm
Both of my trades are still open after 7 hrs and both with a slight minus reading - may close them out and hope tomorrow is better. I hate to be in a drawdown and rollover swap coming up in 35 minutes.
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