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Swing trading with heiken ashi and stochs

  • #561
  • Mar 5, 2012 7:19pm Mar 5, 2012 7:19pm
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...
hi johnny..

the answer is simple... i believe in this method n i trade when i saw 3 signal on the chart...

btw, gud job with jpy pair...

welcome to the club...

cheers!
Peace Yo!
  • #562
  • Mar 5, 2012 8:27pm Mar 5, 2012 8:27pm
Hi guys,

Looks like a nice easy system. I took a GPUSD LONG test trade last night and the stochs have moved up very fast to the oversold region. Should I be looking at closing this position and waiting for another setup or do we hold and perhaps fold when I get a red HA candle?

Thanks!
Jem
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  • #563
  • Mar 5, 2012 11:13pm Mar 5, 2012 11:13pm
Quoting Jemook
Hi guys,

Looks like a nice easy system. I took a GPUSD LONG test trade last night and the stochs have moved up very fast to the oversold region. Should I be looking at closing this position and waiting for another setup or do we hold and perhaps fold when I get a red HA candle?

Thanks!
Jem
The stochs themselves being high isn't a worry as they can stay overbought in an uptrend for a long time which for me invalidates the use of the term overbought! The only thing I would say about the trade is that the reversal candle was very sharp and moved a long way already. After a large move one way you can often expect a pullback. The best thing to do in this situation is to move the stop loss a few pips behind the low of the last candle. That way if the price continues up you are locking in either a smaller loss or eventually profit every 4 hours.
  • #564
  • Mar 5, 2012 11:14pm Mar 5, 2012 11:14pm
Quoting piprac
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.
Yep, I'm out of audusd with a few pips, nothing special. Then it gave a nice signal overnight! That's the way it goes.
  • #565
  • Mar 6, 2012 4:55am Mar 6, 2012 4:55am
Anyone seeing anything?

Took this one this morning, BE +1 unfortunately. Had +20 in float.
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Swedish steel!
  • #566
  • Mar 6, 2012 5:55am Mar 6, 2012 5:55am
I'm working on something similar which might help with trade location and clarify timeframes, etc. When it's ready I'll probably open another thread.
  • #567
  • Mar 6, 2012 6:26am Mar 6, 2012 6:26am
I will take EUR/NZD short. Chart looks nice.
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  • #568
  • Mar 6, 2012 7:43am Mar 6, 2012 7:43am
Total 123 pips for today .. I don't have a clue with EU pairs but I was watching all JPY pairs 30M and every cross above 40 stoch I sell while EU is going down. Could've made 500+ pips if I did not get too emotional but still this is good pips.

I will be looking forward for your new system.
  • #569
  • Mar 6, 2012 7:47am Mar 6, 2012 7:47am
Quoting 71stephan71
I will take EUR/NZD short. Chart looks nice.
Good luck but don't forget it's against the trend.
  • #570
  • Mar 6, 2012 7:48am Mar 6, 2012 7:48am
Quoting johnnydus3d
Total 123 pips for today .. I don't have a clue with EU pairs but I was watching all JPY pairs 30M and every cross above 40 stoch I sell while EU is going down. Could've made 500+ pips if I did not get too emotional but still this is good pips.

I will be looking forward for your new system.
Nice trading, banking pips is what it's all about.
  • #571
  • Mar 6, 2012 8:15am Mar 6, 2012 8:15am
Thanks for the help Hugh!
  • #572
  • Mar 6, 2012 8:28am Mar 6, 2012 8:28am
Quoting Jemook
Thanks for the help Hugh!
No worries, keep going, it will all fall into place.
  • #573
  • Mar 6, 2012 9:05am Mar 6, 2012 9:05am
Here is a sample of one of my emotional trades today..

I had a 30:30 target at H1 XAUUSD but took my profits after 15pips. After 30 mins, it went down and still going down now.

If I held on to it more it'd be 300pips by now lol.

Tomorrow I will try your trailing stop method Hugh, I am done for today.

http://img407.imageshack.us/img407/422/xauusdf.gif
  • #574
  • Mar 6, 2012 11:37am Mar 6, 2012 11:37am
Quoting johnnydus3d
Here is a sample of one of my emotional trades today..

I had a 30:30 target at H1 XAUUSD but took my profits after 15pips. After 30 mins, it went down and still going down now.

If I held on to it more it'd be 300pips by now lol.

Tomorrow I will try your trailing stop method Hugh, I am done for today.
There's nothing like trading gold to stir the emotions ;-)
  • #575
  • Mar 6, 2012 12:17pm Mar 6, 2012 12:17pm
Got off to a nice start today with your system. Sold eurusd and made 58 pips.
Nice simple system.
  • #576
  • Mar 6, 2012 12:30pm Mar 6, 2012 12:30pm
Quoting digf
Got off to a nice start today with your system. Sold eurusd and made 58 pips.
Nice simple system.
Well done. Glad to hear you made some pips.
  • #577
  • Mar 6, 2012 6:43pm Mar 6, 2012 6:43pm
gud morning all..

well done to all for yesterday trade... looks like all are making gud pips...

yesterday was a buzy day for me.... cant post anything here.
anyway got 100pip from gu n eu trade..

my bias for pair:
bearish for gu eu au n nu... reason price below 100sma on h4..
bullish for ucad n uchf... reason price above 100sma on h4..

all pair above is on retrace (stoch at overbought/oversold area)...

looking for opportunity trade from 6pair above.. i will post chart if there is opportunity trade..

regards.
Peace Yo!
  • #578
  • Mar 7, 2012 12:29am Mar 7, 2012 12:29am
Quoting mrluckystar
gud morning all..

well done to all for yesterday trade... looks like all are making gud pips...

yesterday was a buzy day for me.... cant post anything here.
anyway got 100pip from gu n eu trade..

my bias for pair:
bearish for gu eu au n nu... reason price below 100sma on h4..
bullish for ucad n uchf... reason price above 100sma on h4..

all pair above is on retrace (stoch at overbought/oversold area)...

looking for opportunity trade from 6pair above.. i will post chart if there is opportunity trade..

regards.
Welcome back Mr L. Agreed with all of that. Now that all majors are trending quite smoothly is our time to bank some pips. Eurusd, gbpusd and audusd all look nice pulling back gently on the 1 hour chart. Some patience should pay off today.
  • #579
  • Mar 7, 2012 12:30am Mar 7, 2012 12:30am
gu eu nu n au in retrace... im on it (small lot)... all already lock sl +1...

waiting stoch cross at top for sell trade...

cheers.
Peace Yo!
  • #580
  • Mar 7, 2012 1:09am Mar 7, 2012 1:09am
I've been playing around with some ideas for a different but similar system and I can't come up with anything better than what we already have. I have some optional extras that may or may not improve the original system here. One is to add an SHI Channel indicator. Now, shi channel doesn't repaint as such but it does adjust itself in real time to display the best channel for the information available. This can be a bit disconcerting if you have taken what looks like a good trade and then the channel changes. I think as long as you are aware of it's limitations (as with any indicator) then it could be a useful addition.

The basic rule for using the shi channel is that the channel must be sloping in the same direction as the 100 sma and sell at the top or buy at the bottom. The same original rules apply, a smooth pullback followed by a smooth turn. In general the more touches the signal trendline has the better.

You can take profit at the opposite channel line or try this... I've noticed that the 10 ema seems to hold in trends quite nicely and I just happen to have an EA that will trail a stop loss x pips behind a moving average. This would take the guesswork out of when to take profit. Attachments below.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd 7th march 2012 06.30.gif Size: 18 KB
Attached File(s)
File Type: mq4 SHI_Channel.mq4   5 KB | 442 downloads
File Type: mq4 Trail Order SL to MA EA.mq4   4 KB | 468 downloads
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