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Swing trading with heiken ashi and stochs

  • #1,181
  • May 16, 2012 11:19pm May 16, 2012 11:19pm
Quoting piprac
I like the mechanics of this strategy but I'm not doing that well with it & perhaps because I only trade the NY session.

Do you mostly trade the 1H/D or the 4H/W?
What SL would you suggest for both?

Thank you for your hard work here & for sticking with the thread. p.
I am trading daily and hourly charts. I would suggest a stop loss of 50 pips for a 4 hour trade and 30 pips for a 1 hour trade and move to break even after 20 or 30 pips.

If it's not working for you go right back to basics and read the start of the thread again and get the original system down. In a trending market the stoch cross near OB or OS and a HA change in the direction of the trend is a good reliable signal.

Also the intention of the newest version of the system is to trade the impulse move of a daily trend but by trading it as the trend that develops on the hourly chart. Look at any nice long run of heiken ashi candles on the daily and then go to the 1 hour chart to see what the move looked like. You will almost always see the price staying below the 100 sma and giving nice clear signals. Take the first few signals, get to break even and hold them until the 100 sma is breached or you have another very good techincal reason for closing the trade.

Focusing on one particular session is a bit short term, the intention is to trade hourly trends that last a few days to a week or more. There are plenty of god signals that occur during the NY session and if you need to you can always just put breakout trades below the previous swing high/low to get your entries when you're away from the pc. Just remember to use an ea like mauro trailing which will move your stop to breakeven for you after 20 pips.

Alternatively if you just want to trade NY session then consider trading 30 min, 15 min, 5 min or even 1 min charts. Whereever there is a trend there will be good trades.

Hope this helps.
  • #1,182
  • May 17, 2012 5:26am May 17, 2012 5:26am
Hi Hugh

Great thread I have been trading the 4hr system for 2 weeks and it's been performing well...

I saw a mention of the Trail&CloseOrderSLtoMA_EA [EdwardMunroe] I have been trying to load it without success...

Do you have any guidance to do this?

Thank You
Howard
  • #1,183
  • May 17, 2012 6:56am May 17, 2012 6:56am
Quoting hwo144
Hi Hugh

Great thread I have been trading the 4hr system for 2 weeks and it's been performing well...

I saw a mention of the Trail&CloseOrderSLtoMA_EA [EdwardMunroe] I have been trying to load it without success...

Do you have any guidance to do this?

Thank You
Howard
Glad you like the system. Put the file in the experts folder of your broker. Usually this is on the C: drive under program files. Restart the platform. Open the chart you want to apply the EA to. Open the navigator and look under experts. The ea should be listed. Drag and drop it onto the chart and an inputs box will appear. Change the settings as you want them. Make sure the smiley face is showing in the top right corner of the chart and it should be working.
  • #1,184
  • May 17, 2012 7:23am May 17, 2012 7:23am
Quoting Hugh Briss
I am trading daily and hourly charts. I would suggest a stop loss of 50 pips for a 4 hour trade and 30 pips for a 1 hour trade and move to break even after 20 or 30 pips.

If it's not working for you go right back to basics and read the start of the thread again and get the original system down. In a trending market the stoch cross near OB or OS and a HA change in the direction of the trend is a good reliable signal.

Also the intention of the newest version of the system is to trade the impulse move of a daily trend but by trading it as the trend...
When I said I only trade the NY session I meant that is where I look for an entry but I will let it run for a day or 2 if it is staying profitable. Unfortunately this month I have had 6 losing trades, no winners. Just can't see the forest for the trees. Some researching due for the coming weekend. Thank you for the reply.
  • #1,185
  • May 17, 2012 8:29am May 17, 2012 8:29am
Quoting piprac
When I said I only trade the NY session I meant that is where I look for an entry but I will let it run for a day or 2 if it is staying profitable. Unfortunately this month I have had 6 losing trades, no winners. Just can't see the forest for the trees. Some researching due for the coming weekend. Thank you for the reply.
No worries, stick at it, I just banked 510 pips over 3 or 4 trades in eurusd so the pips are out there.

I'm flat at the moment and watching gbpchf and gbpaud closely. The daily charts made a big move up and they are both turning. The question is how long will the run down be? If anything sets up properly on the hourly I'll be in for a small trade and see how it goes. The aim is to start small and build a position.
  • #1,186
  • May 17, 2012 8:33am May 17, 2012 8:33am
This is the trade I oppened the other night to test the EA (not shown on screen shots due to template changeing) It looks like it has plenty of room to run to my newbie eyes - Any thoughts?
Attached Image(s) (click to enlarge)
Click to Enlarge Name: H1.jpg Size: 149 KB
Click to Enlarge Name: daliy.jpg Size: 137 KB
  • #1,187
  • May 17, 2012 8:35am May 17, 2012 8:35am
Quoting drzeepfx
This is the trade I oppened the other night to test the EA (not shown on screen shots due to template changeing) It looks like it has plenty of room to run to my newbie eyes - Any thoughts?
A lot depends on what happens at that support it's sitting at but yes, on the whole I'd say potential to go down further.
  • #1,188
  • May 17, 2012 8:36am May 17, 2012 8:36am
You have moved to break even though haven't you?
  • #1,189
  • Edited 10:01am May 17, 2012 9:06am | Edited 10:01am
Quoting Hugh Briss
You have moved to break even though haven't you?
I did - if the SL is hit, its a break even trade..... But would of course like it to slide....

Have you held a trade over the weekend offten? for some reason this freaks me out a little.. I have tons of mental bagage from my 5M tradeing days to deal with...
  • #1,190
  • May 17, 2012 10:43am May 17, 2012 10:43am
Hi everybody,

Hugh Briss please, could you tell me if this is exactly the way you follow (in case of downtrend):

1/ See downtrend on D1

2/ Open short trade on H1, if:
- H1 and D1 trends are both downtrends
- Stoch cross
- HA color change

3/ Set manually Stop at 30 pips above enter price

4/ When 20 pips profit is hit:
- Set manually Stop at enter price
- Open a second short trade (set manually its Stop at 20 pips above its enter price, i.e at enter price of the first trade)

5/ When 100ema drops below Stop line, set EA (with the settings you gave here: http://www.forexfactory.com/showthre...57#post5671057)

6/ Let run these 2 trades until EA Stop is hit. But before this, eventually open new trades if there are Stoch cross and HA color change on downtrend (as you shew here: http://www.forexfactory.com/attachme...0&d=1337095818)

I'm not confident about second trade opening and EA start.
  • #1,191
  • May 17, 2012 10:44am May 17, 2012 10:44am
Quoting drzeepfx
I did - if the SL is hit, its a break even trade..... But would of course like it to slide....

Have you held a trade over the weekend offten? for some reason this freaks me out a little.. I have tons of mental bagage from my 5M tradeing days to deal with...
I used to trade only daily charts and would hold over the weekend all the time. The only problem with holding over the weekend is if it gaps substantially the other side of your stop loss but this happens rarely and when it does it is not usually by too much. Of course if you have a lot of money risked and the price is close to your entry near the close then maybe best to just close it out.

If you google "Oanda live prices" you can see what's happening over the weekend anyway, usually not much.
  • #1,192
  • May 17, 2012 10:51am May 17, 2012 10:51am
Quoting vinze87
Hi everybody,

Hugh Briss please, could you tell me if this is exactly the way you follow (in case of downtrend):

1/ See downtrend on D1

2/ Open short trade on H1, if:
- H1 and D1 trends are both downtrends
- Stoch cross
- HA color change

3/ Set manually Stop at 30 pips above enter price

4/ When 20 pips profit is hit:
- Set manually Stop at enter price
- Open a second short trade (set manually its Stop at 20 pips above its enter price, i.e at enter price of the first trade)

5/ When 100ema drops below...
You are nearly right.

1) Look for a good stoch cross and ha change on the daily chart. Trend is not so important on the daily but it helps.

2) On hourly wait for price to pull back smoothly and give stoch cross and ha change. Enter 1 trade.

3) 30 pip stop, get to break even after 20 pips.

4) On every clear stoch cross and ha change add another trade, same rules as above.

5) As the 100 sma catches up with the orders set the ea to start trailing the stops and locking in profit as you go along.

6) Keep all trades open until either the 100 sma is crossed OR there is a strong technical support and resistance level or some other good reason to take profit.

The extra trades are taken exactly the same as the first one, only on a clear signal and then get to break even quickly. There are instructions for the ea within the last few pages.
  • #1,193
  • May 17, 2012 11:15am May 17, 2012 11:15am
Thanks Hugh, I have this posted on my refridge, bathroom mirror, under my pillow and with plenty of copies for any other spot as needed!!!!!
Do not dwell in the past, do not dream of the future, concentrate the mind.
  • #1,194
  • May 17, 2012 11:28am May 17, 2012 11:28am
Thank you Hugh Briss to answer me as quickly.

I read last pages and I set EA with the followings settings: http://www.forexfactory.com/showthre...57#post5671057

But when it is set on a graph and one trade is open on the same graph. There is no stop gives by the EA.

Please, I would like to know if I use the good EA file. I set both of the following files, but no one gave me stop:
- Trail Order SL to MA EA
- Trail&CloseOrderSLtoMA_EA_[EdwardMunroe].ex4

Please could you tell me which file I should use to set EA stop.

Thank you very much
  • #1,195
  • May 17, 2012 11:52am May 17, 2012 11:52am
Dear Vinze,

Both are working for me.
Do you have a smiling face on the top right of your chart?
If not, check the expert advisor button on top of your screen. Is it green or red, it should be green.
go to the chart, right click and select expert advisor=>properties. Open the left tab and select enable live trading.
To get more profit, not the entry but the exit will make the big difference
  • #1,196
  • May 17, 2012 12:05pm May 17, 2012 12:05pm
Thank you Reinier

Now it's working
  • #1,197
  • May 17, 2012 1:25pm May 17, 2012 1:25pm
Quoting AlbinaGrande
Thanks Hugh, I have this posted on my refridge, bathroom mirror, under my pillow and with plenty of copies for any other spot as needed!!!!!
Good stuff, all you've got to do is stick to it
  • #1,198
  • May 17, 2012 1:27pm May 17, 2012 1:27pm
Quoting vinze87
Thank you Reinier

Now it's working
Glad you got it working. Thanks Reinier.
  • #1,199
  • May 17, 2012 1:33pm May 17, 2012 1:33pm
Here's what I'm looking at now. They all look nice on the daily although they are against the trend. If you look at the hourly charts they are all now trading below the 100 sma. The first one to pull back smoothly and give a clear signal is the one I will be trading.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbpchf 17th may 2012.gif Size: 19 KB
Click to Enlarge Name: gbpaud 17th may 2012.gif Size: 17 KB
Click to Enlarge Name: gbpnzd 17th may 2012.gif Size: 17 KB
  • #1,200
  • May 17, 2012 3:16pm May 17, 2012 3:16pm
Hi Hugh,

Thanks for the reply - I have done as you mentioned and it doesn't show a dialogue box.
Do you have a link to this EA maybe mine isn't working properly...

150 pips last night...$$$

Thanks
Howard
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