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Swing trading with heiken ashi and stochs

  • #1,081
  • Edited 7:20am May 6, 2012 6:54am | Edited 7:20am
Quoting Hugh Briss
..... I've been concentrating on keeping the spirit of the original system but finding a more intelligent way to trade it. ..... Also I've been concerned with keeping it simple. ...., let's bank some pips next week!
HB, I'm concious of trying not to complicate your approach, and I accept your comments about keeping it simple. I've looked at a lot of strategies, some of which may be successful, but extremely complex and you could never be sure what are the critical components.

At the moment, I find I need something "in my face", preferaby on the chart I'm looking at, just to make sure I don't forget it. Thats why I'm using the PL4 Clock and a mix of other indicators showing the pair, the spread & actual prices in large font. It's on the chart anyway, but this way it hits me all the time. Probably just making up for inexperience (though I have traded a few markets off & on over the last 6 or 7 yrs).

Another thing I'm looking at is a "market view" profile with a mosaic of the top pairs (12 - 15 tiled charts) with only a linear daily HA indicator showing. This acts like a "heat map" and quickly shows what is trending or what has just changed direction. If a pair looks promising, I can open another profile showing just that pair for further study & possible trade. While it's just another way of looking at the same thing, I should save it for a possible future thread so as not to detract from yours.

The more I look at what you're presenting, the more I believe you're onto a winner. It has certainly got my attention and I'm looking forward to the next few weeks of testing.

Cheers, Ozefex.

Edit: Just one thing - I think you should continue with the round number indicator of your choice to show the 50 & 100 S/R levels. I've just got used to this & I think it's worthwhile. There are at least a couple of other threads on trend trading systems also incorporating round number levels. Its just a pity MT4 doesn't do this by default.
Still learning - No guarantees...
  • #1,082
  • May 6, 2012 5:42pm May 6, 2012 5:42pm
Damn, just when I don't hold a trade (AU short) over the w/e....

That really should have been predicable given the Greek & French elections!
Still learning - No guarantees...
  • #1,083
  • May 7, 2012 12:24am May 7, 2012 12:24am
Quoting mmazzuca13
Hi Hugh,

I recently discovered your thread and found it to be very simple and straight forward in its approach. I was wondering if anyone had any stats after 3 months of trading re: the 3 different money management methods you mentioned in your first post. I have never been able to settle on one method consistently for exiting a trade. Recently I've been trading 3 lots and taking 2 off at the 1st profit target and moving to BE + 5 pips and trailing the 3rd lot at the high/low of 2 candles back. Any and all responeses are welcomed.

Thanks,
Mike...
I don't think we all got round to compiling results over the period due to other projects. With the new method posted above you could either take profit on a stoch cross or ha change against the trend or as you are trading in the direction of a possible major move on the daily you could just get 2 or 3 trades to break even on the hourly chart and trail the trades on the daily chart.
  • #1,084
  • May 7, 2012 12:26am May 7, 2012 12:26am
Quoting Ozefex
Damn, just when I don't hold a trade (AU short) over the w/e....

That really should have been predicable given the Greek & French elections!
You never know what will happen with nfp and a weekend! Audusd is pulling back gently now, maybe to 1.02 for a nice short?
  • #1,085
  • Edited 1:10am May 7, 2012 12:32am | Edited 1:10am
Quoting Hugh Briss
I don't think we all got round to compiling results over the period due to other projects. With the new method posted above you could either take profit on a stoch cross or ha change against the trend or as you are trading in the direction of a possible major move on the daily you could just get 2 or 3 trades to break even on the hourly chart and trail the trades on the daily chart.
hai hugh, I'm just started learning your method, but there is something that I dont understand about your newest method in two pages back. Is it ok according to your new method to trade in hourly chart against the daily trend?

thank you so much for your response.

PS: English is not my native language, so I apologize if there are any grammatical or typing error
  • #1,086
  • May 7, 2012 2:08am May 7, 2012 2:08am
Quoting bedul
hai hugh, I'm just started learning your method, but there is something that I dont understand about your newest method in two pages back. Is it ok according to your new method to trade in hourly chart against the daily trend?

thank you so much for your response.

PS: English is not my native language, so I apologize if there are any grammatical or typing error
No problem, your English is fine. To answer your question, yes, you can trade against the daily trend because you are trading with the hourly trend. A good pullback on the daily chart will often give a strong trend on the hourly chart and it is that trend we are following. If you need any help please ask.
  • #1,087
  • May 7, 2012 8:42am May 7, 2012 8:42am
thank you for your kind response hugh

right now I’m trying to apply your method in the H4 and M15 timeframes.
I added to my entry criteria that I only open a position when the stochastic cross in the M15 took place in the 20/80 area.

if you don’t mind, could you please look at my entry here, was it the right setup according to your method?

I wait until the opening of the next candle after HA changes colour in H4,
dropdown to M15, and look for stochastic cross in the 20/80 area, HA change colour, I open position in the opening of the next candle

thank you, I'd really appreciate your guidance.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gu h4.gif Size: 18 KB
Click to Enlarge Name: gu m15.gif Size: 19 KB
  • #1,088
  • May 7, 2012 8:47am May 7, 2012 8:47am
Quoting bedul
thank you very much for your kind response hugh

right now I’m trying to apply your method in the H4 and M15 timeframes. it’s not that I thought your choice of TF is not good, but I try to adjust the method to my trading preference and style. you see I don’t have the patience to wait for daily signals, nor do I have the stomach to withstand larger drawdown in higher TF

I added to my entry criteria that I only open a position when the stochastic cross in the M15 took place in the 20/80 area.

if you don’t mind, could you please look at my...
Yes, looks like a good enough trade to me.
  • #1,089
  • Edited 10:42am May 7, 2012 8:50am | Edited 10:42am
Quoting Hugh Briss
Yes, looks like a good enough trade to me.
thanks hugh, I am going to sleep it off


edit: I couldn't sleep, keep checking my open position via my cellphone, so I close it at +26
I hope it's not beginner's luck
looking forward for another go tomorrow
thanks a lot hugh
  • #1,090
  • May 7, 2012 1:37pm May 7, 2012 1:37pm
please indicators and template share for download.
thank you.
good luck.
  • #1,091
  • May 8, 2012 12:28am May 8, 2012 12:28am
HI HUGH,
having a problem with ha candle. my ha candles r not full green or red as yours is. they r a mixture of red and green. did all that u had about the ha candle in metaeditor. do i have to change some properties. please help.
thanks saiyid
  • #1,092
  • May 8, 2012 6:19am May 8, 2012 6:19am
Quoting saiyid
HI HUGH,
having a problem with ha candle. my ha candles r not full green or red as yours is. they r a mixture of red and green. did all that u had about the ha candle in metaeditor. do i have to change some properties. please help.
thanks saiyid
Try it again, you need to change the colours in 8 places.
  • #1,093
  • May 8, 2012 7:31am May 8, 2012 7:31am
Love to see Barry quoted. LOL

"In this business any day you don't go backwards is a good day." - Barry Weiss - Storage Wars

Just another reason to choose HB and this thread as a mentor !!!

Keep it up - Lets get them PIP's
  • #1,094
  • May 8, 2012 10:22am May 8, 2012 10:22am
Hi Hugh Briss,

I still use the initial version of your method (with Daily and H4 Stochs and HA candles), this is very profitable, more than 1000 pips last week.

Question: I would like to know if the use of the last version (with Daily and H1 Stochs and HA candles), is more profitable ? In addition, I think that we have to be more concentrated to use H1 timeframe rather than using H4 timeframe.

Thank you
  • #1,095
  • May 8, 2012 2:38pm May 8, 2012 2:38pm
Quoting drzeepfx
Love to see Barry quoted. LOL

"In this business any day you don't go backwards is a good day." - Barry Weiss - Storage Wars

Just another reason to choose HB and this thread as a mentor !!!

Keep it up - Lets get them PIP's
Lol, Barry is THE man! Anything he says is quotable.
  • #1,096
  • May 8, 2012 2:41pm May 8, 2012 2:41pm
Quoting vinze87
Hi Hugh Briss,

I still use the initial version of your method (with Daily and H4 Stochs and HA candles), this is very profitable, more than 1000 pips last week.

Question: I would like to know if the use of the last version (with Daily and H1 Stochs and HA candles), is more profitable ? In addition, I think that we have to be more concentrated to use H1 timeframe rather than using H4 timeframe.

Thank you
The daily/1 hour version is just targetting a trend better. The original system trades trends very well, the other system finds the trends for you so you have a bit more confidence in the trade.

If you want to trade 4 hour charts but still get some direction from the higher timeframe I recommend looking at the weekly chart. It sounds a long way away but believe those two timeframes go together really well.
  • #1,097
  • May 8, 2012 11:02pm May 8, 2012 11:02pm
Hi,
I have never used Stochastic indicator before.

In my charting package, there are %K, %D, %DS and %DSS, where should I input your parameter 8,3, and 3, please??

Thanks a lot
  • #1,098
  • May 8, 2012 11:59pm May 8, 2012 11:59pm
Quoting imagine925
Hi,
I have never used Stochastic indicator before.

In my charting package, there are %K, %D, %DS and %DSS, where should I input your parameter 8,3, and 3, please??

Thanks a lot
%K is 8, %D is 3. After that I don't know. In metatrader you have an input called smoothing which is the other 3 and the other parameters are what type of moving average which is simple and the price field to use which is low/high. There should be some sort of manual for your charting package, have a look at that and that should tell you what the rest means.
  • #1,099
  • May 9, 2012 1:24am May 9, 2012 1:24am
  •  TPO
  • | Joined Sep 2006 | Status: One Life, One Chance | 68 Posts
Hi Hugh, just wanted to say thank you for all your work in explaining this system, and your remarkable patience with people who can't be bothered to work out MT4 for themselves

all the best

-TPO.
  • #1,100
  • May 9, 2012 5:09am May 9, 2012 5:09am
hai hugh
just want to report my recent results
yesterday I accumulated 9% in 3 trades
today I achieve 20% in 1 trade (I risk a bit more than I normally would, since I believe in the signal)
it still a long way before I can determine that this system is the one that suits me, but so far I am very happy with the results
thank you very much hugh
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