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.
Swing trading with heiken ashi and stochs
- #1,104
- Edited 8:53am May 9, 2012 8:43am | Edited 8:53am
Hi Bedul,
1/ When you said you realized the following results: 9% and 20%, is it increasing pourcentages of your capital? If it is the case, doesn't it too risky? Personally, for one trade, I put stop at 50 pips and it has correspond to the maximum of 1% of my capital.
2/ Do you still use H4 and M15 method? If it does, do you look at H1 and M30 timeframes too, to see if on these ones, Stochs directions are the same than in H4 and M15? Do you have to wait very long time to see H4, H1, M30 and M15 Stochs go in the same direction,...
all your guesses are right
1. I risk 4% per trade, this is divided with 3 times ATR 7 in the M15 timeframe (I forgot where I pick up this setting
), but I dont plan on letting the SL get hit, I will cutloss whenever there is a reversal according to hugh's method. based on my backtest during the last weekend (only 6 months back on EJ pair), I concluded that it wouldnt hurt me that much if I get out on the reversal signal.2. yes, it took me a lot of screen time
, but I only start looking for signals when london session opens. I look for the first M15 signal based on Hugh method from then on. my entry is based on the allignment of M1, M5, and M15 (I pick up this from hharington freebie 1 minute thread, he argue that smaller TF form the higher TF). so basically I want to open a position in the most convinient spot (high/low) in the M15 candle. I open the chart every 5 minutes.3. yes the trade I took today is from GU (first m15 signal). although stoch in H4 is already in the 20 area, but I still thinks it's worth the shot (I forgot where I read this, but even if the stoch is already in 20/80 area, there is still a good possibility for the price to move higher/lower, but as Hugh said, proceed with caution)
4. as for why I would risk a lot more than usual on that one GU trade today, its arguable, because I am a newbie in this forex business (just started learning for 4 months) but I notice something else than Hugh indicator that made up my mind to change my MM in an instance ( its just basic forex stuff that you can read in babypips.com)
geez, it took me a while and a lot of effort to write this one response, I wonder how hugh can keep up replying to a lot of question on this thread. I highly appreciate your effort to share this system Hugh, thank you very much.
sorry if my english is terrible, english is not my native language (rereading this made me question if I am getting my message through to you, sorry again)
Bedul,
Thank you very much for all these answers, I am very grateful. Your english is very good (english is not my mother tongue too). Me too, I am a newbie in forex trading (3 months barely).
It's very nice of you to have responded so quickly and with all these details. I understand better the way you follow to trade.
I'll take a closer look to see this and experiment it by myself.
Thank you again for spending so much time to answer me. I would be very pleased to share my future experience with you and others traders.
Thank you very much for all these answers, I am very grateful. Your english is very good (english is not my mother tongue too). Me too, I am a newbie in forex trading (3 months barely).
It's very nice of you to have responded so quickly and with all these details. I understand better the way you follow to trade.
I'll take a closer look to see this and experiment it by myself.
Thank you again for spending so much time to answer me. I would be very pleased to share my future experience with you and others traders.
- #1,111
- May 10, 2012 6:34pm May 10, 2012 6:34pm
Hi everybody,
I have AGAIN
some questions for you:
1/ On the initial template we had a 8 Moving Average on the H4 (or H1) HA Candles graph. Please, someone could tell me why it is better to have a 100 Moving Average (Period:100 and shift:0)?
2/ To be sure I understand well:
-when we are below 100MA (we are in downtrend), we never open a long trade
-when we are above 100MA (we are in uptrend), we never open a short trade
Is that correct?
3/ Hugh Briss, about your last post #1110, I understand your eurusd short, but I don't see how do you determined your target (around 1.12)? I'm drawing horizontals and obliques supports, but I can't find this target. On which timeframe and zoom level are you set to find this target?
I'm sorry my questions may seem a bit out. I have read all the posts from the last 14 pages, but perhaps I don't understand all the posts correctly (I'm French, I still don't understand all the English language subtleties).
Thank you very much everybody
I have AGAIN
some questions for you:1/ On the initial template we had a 8 Moving Average on the H4 (or H1) HA Candles graph. Please, someone could tell me why it is better to have a 100 Moving Average (Period:100 and shift:0)?
2/ To be sure I understand well:
-when we are below 100MA (we are in downtrend), we never open a long trade
-when we are above 100MA (we are in uptrend), we never open a short trade
Is that correct?
3/ Hugh Briss, about your last post #1110, I understand your eurusd short, but I don't see how do you determined your target (around 1.12)? I'm drawing horizontals and obliques supports, but I can't find this target. On which timeframe and zoom level are you set to find this target?
I'm sorry my questions may seem a bit out. I have read all the posts from the last 14 pages, but perhaps I don't understand all the posts correctly (I'm French, I still don't understand all the English language subtleties).
Thank you very much everybody
- #1,112
- May 10, 2012 7:06pm May 10, 2012 7:06pm
Lol, no problem, good luck with your trades. I'm short eurusd and holding on, concentrating on building a position, target 1.12. We'll see.
1.12 would be delicious
i'm still waiting for a bigger rally to sell euro
- #1,113
- May 10, 2012 11:23pm May 10, 2012 11:23pm
- | Commercial User | Joined May 2011 | 3,012 Posts
Hi everybody,
I have AGAIN
1/ On the initial template we had a 8 Moving Average on the H4 (or H1) HA Candles graph. Please, someone could tell me why it is better to have a 100 Moving Average (Period:100 and shift:0)?
2/ To be sure I understand well:
-when we are below 100MA (we are in downtrend), we never open a long trade
-when we are above 100MA (we are in uptrend), we never open a short trade
Is that correct?
3/ Hugh Briss, about your last post #1110, I understand your eurusd short, but...
1) The 8 ema is useful to trail your stop loss behind, it is not used for trend direction.
2) Yes, that is correct.
3) Monthly, as far out as it will go. Also draw a channel on the weekly.
To expand on the 100 sma question, in the originl system you use the 100 sma exclusivey to tell you the trend strength and direction. In the newest system you use the daily timeframe (or another higher timeframe) to give you the direction with the stoch cross and ha change and then trade the possible resulting hourly trend with the 100 sma merely as confirmation.
I hope this helps and is clear enough. Good luck.
- #1,114
- May 10, 2012 11:26pm May 10, 2012 11:26pm
- | Commercial User | Joined May 2011 | 3,012 Posts
moved SL to BE+1, added a little to each position as well
1.12 would be delicious
- #1,116
- May 11, 2012 3:44am May 11, 2012 3:44am
Good trading, hope they both drop off a cliff for you today. 1.12 will take months and months but I'd be happy just to see 1.2625 to start with. I think I would definitely take profit there and reassess. I can see a lot of support at that level and a chance to sell it at higher prices again. I may well keep 1 of my original positions open though, see how far I can keep it.
looking to short USD/JPY soon
100 SMA yellow
- #1,117
- May 11, 2012 6:46am May 11, 2012 6:46am
Pas des problemes. Here are the answers...
1) The 8 ema is useful to trail your stop loss behind, it is not used for trend direction.
2) Yes, that is correct.
3) Monthly, as far out as it will go. Also draw a channel on the weekly.
To expand on the 100 sma question, in the originl system you use the 100 sma exclusivey to tell you the trend strength and direction. In the newest system you use the daily timeframe (or another higher timeframe) to give you the direction with the stoch cross and ha change and then trade the possible resulting...
To resume the strategy you are using. There are 2 steps:
1/ On D1, find direction (with Stoch cross and strong HA change)
2/ On H1, open trade on trend of same D1 direction (see trend on 100sma)
Question: Do we have to watch on H4 100sma, to confirm there is the same direction in this one too? Or it isn't important to watch H4?
Thank you again. Good luck you too.
- #1,118
- May 11, 2012 7:02am May 11, 2012 7:02am
- | Commercial User | Joined May 2011 | 3,012 Posts
Thank you very much Hugh Briss, it is very clear! Your French is very good!
To resume the strategy you are using. There are 2 steps:
1/ On D1, find direction (with Stoch cross and strong HA change)
2/ On H1, open trade on trend of same D1 direction (see trend on 100sma)
Question: Do we have to watch on H4 100sma, to confirm there is the same direction in this one too? Or it isn't important to watch H4?
Thank you again. Good luck you too.