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Swing trading with heiken ashi and stochs

  • #1,141
  • May 14, 2012 9:04pm May 14, 2012 9:04pm
Quoting AlbinaGrande
Hi Hugh, Have you noticed how highly "synchronized" the Forex pairs appear to be at this time? I trade 11 pairs:

(EURUSD,AUDUSD,NZDUSD,GBPUSD,USDCAD,EURGBP,GBPJPY,GBPAUD,EURCAD, AUDCAD and AUDJPY) as well as the USDX.

Every one of them at the moment is in overbought/oversold(80/20) territory as judged by my Stochastic, DSS Bressert, 8,5,5 on a Daily basis. None are in transit between the extremes. Also many are poised for a countertrend reversal rather than a trending reversal. However,the GBP pairs are looking for the next reversal to be...
To be honest I haven't looked as I'm just concentrating on one position at a time. There is no reason why you shouldn't trade all available pairs that your broker offers as long as you only build one position at a time.
  • #1,142
  • May 14, 2012 9:13pm May 14, 2012 9:13pm
Quoting Ozefex
@ Drzeep: It occured to me after your question about the 100 sma on the D1 & H1 charts that I wasn't using using one! My excuse is that I've been busy the last couple of weeks and hadn't really converted to Hugh's recent D1 & H1 strategy - I am still centred around the H4 but looking at higher timeframes for trends and lower timeframes for timing. I'm essentially following the method but not fully. I've been constantly tweeking my templates but have stayed with the triple pipware stochastics (showing fixed D1, H4 & H1 stochastics on all charts)...
At the end of the day you have to trade what makes sense to you and your beliefs about the market. I'm all for people taking the system and tweaking it so that it makes sense to them. For me a 200 sma/ema is too slow. Notice I am using the 100 sma as my trailing stop for the eur trade, this will keep me in for as much of the move as possible without giving too much back when my stop does get hit. It's a balance between letting the trade run and leaving money on the table, there is no right answer in this equation so you have to go with a definition of when the trend is over and stick with it.

My own personal outlook on things at the moment is that I will be opening a seperate account for carry trades using the weekly chart and zooming to the daily and hourly to get multiple entries to break even and trail a large position behind the daily 100 sma. This will capture the impulse moves on the weekly trend. In another account I will do what I have been doing and waiting for a signal on the daily and going to the hourly to get multiple entries to break even and hold behind the 100 sma on the hourly chart. This is capturing the impulse moves of the daily trend. I believe both methods are exactly the same just with different time horizons.

There is no right or wrong combination of timeframes and indicators, use what works for you but I think it makes sense to keep the basics of the original system very much in mind, 2 indicators and HA candles, don't over complicate things.
  • #1,143
  • May 14, 2012 9:15pm May 14, 2012 9:15pm
Quoting drzeepfx
SL kicked in Took my 30 PIPs - minus swap -- thinking about jumping back in and letting it ride out the night - still looks like plenty of momentum to the short side.
Try and avoid jumping in and jumping out, learn to build a position and trail it. It's less stressful and more profitable.
  • #1,144
  • May 15, 2012 8:02am May 15, 2012 8:02am
Quoting Hugh Briss
Try and avoid jumping in and jumping out, learn to build a position and trail it. It's less stressful and more profitable.
I did not jump back in lastnight. But based on the daily I am back in for a repeater of yesterday - I see a good downward trend continuing and no wicks on the daily - Stoch have moved to undersold and are flatting (prolly not the best)

On the H1 we had a corrective run up and I am getting in while the price is up some expecting the downward march to continue...

EUR/USD sell 1.2839 SL 1.2851 TP 1.2776.

Will the EA discussed in this thread watch and move my SL and TP for me while I am away at the job?
  • #1,145
  • May 15, 2012 8:21am May 15, 2012 8:21am
Just about to leave the house one last look at a spike has me out ..... but with a nice helping of PIPs for the day - Drzeep hangs his head in shame -
Sorry Hugh I need to figure that EA out or train the wife to move my SL.....

Drzeep
  • #1,146
  • May 15, 2012 8:56am May 15, 2012 8:56am
Quoting drzeepfx
Will the EA discussed in this thread watch and move my SL and TP for me while I am away at the job?
Yes it would do.

Funny how two traders get two different results from the same trade. I sold eur at 1.28446 and now at break even and 40 pips up. I'll let the 100 sma trail the stop for me. If it doesn't survive I'll either reenter on the next pullback or just leave the 2 trades I already had open until they get stopped out.

Why are you using a take profit?
  • #1,147
  • May 15, 2012 9:37am May 15, 2012 9:37am
Why are you using a take profit?[/quote]

To be honest I don’t know...... My old system and MM I had laid out for myself was to get 25 PIP's a day and to always adjust volume to put 2% in play - So out of habit is probably the only answer I have to that question. In my defense 2% a day over two years or so builds a nice living (the trick is finding the trades) - of course I want to use the new H1 and dailey because averaging 200 PIPs a day would speed things up a lot..... Just still learning..... I see the error of me ways just need to figure out how to make it work with the life I have now... That EA sounds like a step in the right direction - I will study that right away.

I am beginning to understand entry - now I need to learn the exits on this system...

Thanks Again HB....
  • #1,148
  • May 15, 2012 9:54am May 15, 2012 9:54am
I got those PIPs but look at EUR run to the shortside...

Good PIPs for you HB.
  • #1,149
  • May 15, 2012 10:30am May 15, 2012 10:30am
Quoting drzeepfx
I got those PIPs but look at EUR run to the shortside...

Good PIPs for you HB.
Yes, not doing bad.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd 15th may 2012.gif Size: 18 KB
  • #1,150
  • May 15, 2012 10:33am May 15, 2012 10:33am
Quoting drzeepfx
I am beginning to understand entry - now I need to learn the exits on this system...
The trailng stop ea will really help. It stops you from closing the trade too early through emotions and it doesn't usually leave too much on the table. It's the best compromise I can find for an exit, the best balance between letting your winners run and exiting when the move is over.
  • #1,151
  • May 15, 2012 11:36am May 15, 2012 11:36am
Are you in the US HB? I noticed 3 sells on one chart?
I might not understand the rules..... How many positions can one have open - Or can you have all you want as long as no "hedgeing" is takeing place.
  • #1,152
  • May 15, 2012 12:24pm May 15, 2012 12:24pm
Quoting drzeepfx
Are you in the US HB? I noticed 3 sells on one chart?
I might not understand the rules..... How many positions can one have open - Or can you have all you want as long as no "hedgeing" is takeing place.
No, UK
  • #1,153
  • May 15, 2012 12:35pm May 15, 2012 12:35pm
I am new here and like this trading methode.
I traded a 10 dollar account to 50 dollar within one week with 0.01 lots.

Does the ea also work if I do have multiple orders open within one currency? Or can I onlu use it with only one open order per currency?

Reinier
To get more profit, not the entry but the exit will make the big difference
  • #1,154
  • May 15, 2012 12:53pm May 15, 2012 12:53pm
Quoting rpvrpv
I am new here and like this trading methode.
I traded a 10 dollar account to 50 dollar within one week with 0.01 lots.

Does the ea also work if I do have multiple orders open within one currency? Or can I onlu use it with only one open order per currency?

Reinier
Hello Reinier, the EA will trail the stop loss on all open orders on the pair that it is attached to.
  • #1,155
  • May 15, 2012 12:56pm May 15, 2012 12:56pm
I've been thinking about the exit strategy. How about taking profit on each individual order when it's, say, 300 pips up? So on a trend of 600 pips you might have an order every 50 pips and as the price goes down it will take profit on each one in turn as it reaches 300 pips up. That way you are taking profits as you go along and if/when the price does reverse you are only giving back the profit on your open trades.
  • #1,156
  • May 15, 2012 1:56pm May 15, 2012 1:56pm
Hello,
I open 2 positions per trade, one with tp of 20 pips, the other i let ride trailing the stop using fractals, im trading off the 4 hr.
My current trades are
short AUDUSD since 10 may first postion closed for 20 pips ,trailing second currently 100 pips
short EURGBP from open last 4 hr candle 1900 uk time in profit at the moment about
  • #1,157
  • May 15, 2012 2:04pm May 15, 2012 2:04pm
Quoting markpounder
Hello,
I open 2 positions per trade, one with tp of 20 pips, the other i let ride trailing the stop using fractals, im trading off the 4 hr.
My current trades are
short AUDUSD since 10 may first postion closed for 20 pips ,trailing second currently 100 pips
short EURGBP from open last 4 hr candle 1900 uk time in profit at the moment about
Why take just 20 pips? If you're trading with a trend surely it's better to target a lot more? When you lose you lose on 2 x your stop loss. When you win you take 20 pips and then whatever the 2nd trade gives you when you could have had 2 x the amount of the second win.

Anyway, how do you decide when to close the 2nd trade, that's the key question?
  • #1,158
  • May 15, 2012 4:03pm May 15, 2012 4:03pm
Quoting Hugh Briss
No, UK
One of my fantasy trips is to come to the UK for a Aston Villa home game - Dont ask me why Aston Villa choosen just at random not really that big a football/soccor fan - but would love for the kids to have an overseas trip.....

LOL 300 PIPs per trade? If I can get a couple a week I will be in the stands by October....

  • #1,159
  • May 15, 2012 6:51pm May 15, 2012 6:51pm
Looks Like we are going to have us a slight correction - just like last night -
Going to watch close - based on the D1- I still think we have some room to fall, Resistance is still 70 PIPs away and with the momentum here I would not bet that it will hold - Loading that EA tonight -

Anyone seeing good looks on the other pairs?
  • #1,160
  • Edited 8:11pm May 15, 2012 7:16pm | Edited 8:11pm
OK loaded - any place I can get instruction on how to configure?
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