Dislikedtook this trade on audnzd h4, weekly stoch is coming up from 20.
i'm wondering about sl, ive been using daily ATR (5),
any opinions is it ok to use ATR or shall i stick to 50 pips?
thxIgnored
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Dislikedtook this trade on audnzd h4, weekly stoch is coming up from 20.
i'm wondering about sl, ive been using daily ATR (5),
any opinions is it ok to use ATR or shall i stick to 50 pips?
thxIgnored
DislikedAre you saying you took this long on H4? The weekly stoch is coming up, but looks like the daily is going down. This is either a long term weekly trade with a very large SL (below the last weekly low 2 bars back?) or it could be a problem. I wouldn't call it a H4 trade. Hugh might give his opinion if he's still awake. Good luck anyway!Ignored
DislikedAre you saying you took this long on H4? The weekly stoch is coming up, but looks like the daily is going down. This is either a long term weekly trade with a very large SL (below the last weekly low 2 bars back?) or it could be a problem. I wouldn't call it a H4 trade. Hugh might give his opinion if he's still awake. Good luck anyway!Ignored
DislikedNo risk no reward, Mr Lucky. Trading HA's and stochastics are so much fun. One of my favorite pairs to trade.
HHIgnored
DislikedIn answer to your previous question the take profit criteria is open to your own personal choice. A few people take profit at +50 pips but letting the trade run can often yield more, but of course can also give some back.
Your next questions... I like the stoch cross to occur in the OB or OS areas but just below is fine too. Entry is on the close of the first HA candle that closes with a change of colour. The 100 sma is merely a guide to the trend. In general only trade long when the HA candles are above and short when below.Ignored
DislikedGot my first trade under my belt on the USD/JPY - went Sunday to Tuesday AM - good for a handfull of PIP's could have closed it up 25 at one point - but was looking for the full 50 - it hit my over night SL and I woke up to it closed... But I learned a lot and I look forward to many more trades..... I belive I will watch and post PIC's when the "surf looks up" to get your opinion....
Can wait for Hugh's report on his lower time frame experiments/methods
Lets get more PIPs !
Drzeep...Ignored
DislikedHugh,
Just came across this thread!!
When I started looking into FX I looked at Heikin Ashi and liked what I saw.
I'll try this system and let you know how I get on (still doing the Fibo's) :-)
Do you trade different tf's on this or only 4HR?Ignored
DislikedUSDJPY short that set up just below the 100 SMA after Monday open (post #892) was up to 56 pips in profit before pulling back to hit my SL at +23.4 pips. Should have set my TP for 50 pips instead of the 85 pips (which was at support but too ambitious).
Sold AUDUSD after the CPI figures were announced Tuesday Sydney time and EURGBP because I thought it looked weak. Neither set up well according to the rules and are now at -45 pips! I have approx. 50 pip SL's on each (above last highs) and the trades may yet come good, but I really must stick to...Ignored
DislikedI've been concentrating on the fib trading thread for a while now and missed some good trades from this system. Just though I'd post a few here that set up recently. Sorry it's in hindsight but I've posted plenty before they set up too! This gives you an idea of what you're looking for.
I've added some charts from different timeframes and trades taken at different times of day as I know there are traders here from all over the world. The trades are out there, just got to be there to take them.Ignored
DislikedI've been concentrating on the fib trading thread for a while now and missed some good trades from this system. Just though I'd post a few here that set up recently. Sorry it's in hindsight but I've posted plenty before they set up too! This gives you an idea of what you're looking for.
I've added some charts from different timeframes and trades taken at different times of day as I know there are traders here from all over the world. The trades are out there, just got to be there to take them.Ignored
DislikedHi Hugh. Thank you for the screenshots.
I've noticed that you have a red vertical line on HA candle that changed the color.
Entry point is on the next candle?
I will modify your picture for my understanding:
AttachmentIgnored
DislikedExample of a bad trade. Entered on momentum but it wasn't enough. Next time will try to wait for the setup - which will comeIgnored
DislikedAs a Beginer I would like to ask what would have made this trade better from the point of view of viewing the chart at the time the trade was plasced? Better angle on the SMA? Trade closer to where the SMA was line was broken?
Because in looking it over I might have also thought it was a fair to good setup....Ignored