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Swing trading with heiken ashi and stochs

  • #1,201
  • May 17, 2012 1:58pm May 17, 2012 1:58pm
Dang it - Got the SL Hit so I am out (but not a loser ).......

Thank you for the screen shots HB - will study and take a position or two tonight.....

I love Fridays.....

Drzeep -
  • #1,202
  • May 17, 2012 2:20pm May 17, 2012 2:20pm
Quoting Hugh Briss
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...
Many thanks for this and your other posts, I had the cart before the horse. Maybe i can get this month turned around to at least break even before the month runs out. p
  • #1,203
  • May 17, 2012 8:23pm May 17, 2012 8:23pm
Quoting Hugh Briss
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...
Hugh,

I thought I was too busy to change the way I was trading, but this is exactly what I need. I hope you are still in on the Euro. If it drops below the January low it could go all the way down to the June 2010 lows! Great if you've built up a position.

Unfortunately I've only had a grab at it here and there but still profitable on the EU, AU & AJ. I'm looking forward to making more time available to trade (career change).

Thanks for all your work. We can make good money with this system.

Regards,
Ozefex
Still learning - No guarantees...
  • #1,204
  • May 17, 2012 8:31pm May 17, 2012 8:31pm
I'm in the process of setting up a new live account with the intention of conducting some serious trading.

I find that not only do we have to contend with and learn the way of the market, we also have to consider the risk to our funds deposited with our broker.

I'm working through this at the moment but thought I would share this thread

- Is your money safe with your broker?

http://www.forexfactory.com/showthread.php?t=311196

Regards,
Ozefex
Still learning - No guarantees...
  • #1,205
  • May 17, 2012 8:42pm May 17, 2012 8:42pm
Going to have to answer the above later but thought I'd just post this quickly, looks really interesting.
Attached Image (click to enlarge)
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  • #1,206
  • Edited 9:03pm May 17, 2012 8:59pm | Edited 9:03pm
Quoting Hugh Briss
Going to have to answer the above later but thought I'd just post this quickly, looks really interesting.
Thanks for that. I'm a little undecided as it is at a slight area of resistance, even though above the 1.60000 line. I've thinking long (via H4) - hope that was what you were thinking?? (but H1 looks short...) Depends on how exhausted the Aussie is...
Still learning - No guarantees...
  • #1,207
  • May 17, 2012 9:07pm May 17, 2012 9:07pm
Quoting Ozefex
Thanks for that. I'm a little undecided as it is at a slight area of resistance, even though above the 1.60000 line. I've thinking long (via H4) - hope that was what you were thinking?? (but H1 looks short...) Depends on how exhausted the Aussie is...
Er, no. Daily has just turned down so I'm looking for a short on the hourly. Just pulling back smoothly now. This doesn't mean it won't rocket upwards 300 pips
  • #1,208
  • May 17, 2012 9:25pm May 17, 2012 9:25pm
Quoting Hugh Briss
Er, no. Daily has just turned down so I'm looking for a short on the hourly. Just pulling back smoothly now. This doesn't mean it won't rocket upwards 300 pips
I've lost count of the times I've thought I really should have traded the opposite to the way I first thought...

I went long on this at 1.60233. Daily stoch is heading down but maybe easing slightly, H4 stoch is still going up, M30 stoch is OB but "wiggling up", H1 stoch is OB but maybe turning??

I reckon it could have 30 pips in it to 1.60500 & then possibly turn down, or maybe 120 pips. If it breaks 120 pips (16/05 high), who knows?

As I said, its in an area of resistance & I'm undecided
Still learning - No guarantees...
  • #1,209
  • May 17, 2012 10:04pm May 17, 2012 10:04pm
Quoting Ozefex
I've lost count of the times I've thought I really should have traded the opposite to the way I first thought...

I went long on this at 1.60233. Daily stoch is heading down but maybe easing slightly, H4 stoch is still going up, M30 stoch is OB but "wiggling up", H1 stoch is OB but maybe turning??

I reckon it could have 30 pips in it to 1.60500 & then possibly turn down, or maybe 120 pips. If it breaks 120 pips (16/05 high), who knows?

As I said, its in an area of resistance & I'm undecided
Pics..
Attached Image (click to enlarge)
Click to Enlarge Name: ga long.PNG Size: 63 KB
Still learning - No guarantees...
  • #1,210
  • Edited 10:20pm May 17, 2012 10:17pm | Edited 10:20pm

Market crash lifts chances of rate cut


May 18, 2012 - 12:13PM


Plunging sharemarkets and investor jitters driven by the European debt crisis have increased the chances of another 50 basis point cut from the Reserve Bank.
Credit markets are currently tipping a two-in-three chance of a 50 basis point cut from the RBA when it meets on June 5. Last night, before this morning's share crash, the market had tipped only an 86 per cent chance of a 25 basis point cut, Credit Suisse data showed.
The market is also forecasting that the cash rate will fall to 2.5 per cent over the next 12 months, further down from yesterday's expectations of 2.75 per cent.
RBC Capital Markets economist Michael Turner said rates would have to drop if the banking sector faced a renewed crisis arising from Europe.
"The feedback of the financial sector into the real economy has come into play,” he said, meaning the troubles among global banks could begin to stymie the global economy. “That means the cash rate has to go lower to offset weakness in economic activity,” he said.
The RBA surprised the market by cutting the cash rate to 3.75 per cent this month from 4.25 per cent in response to a slowdown in the domestic economy. The RBA also delivered the larger-than-expected cut after the commercial banks nudged up mortgage rates independently of the central bank in February.
Mr Turner also said rates would have to fall in Australia to make up for the higher credit costs local banks would likely face, he said.





Read more: http://www.theage.com.au/business/ma...#ixzz1vCB0jwtM

Still learning - No guarantees...
  • #1,211
  • May 17, 2012 11:27pm May 17, 2012 11:27pm
Quoting hwo144
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
Maybe you already have an ea attached to the chart? Try right clicking on the chart and in the drop down menu at the top there is "expert advisors". If you mouse over that and there is another list then click on remove ea. Then try it again. If you still have trouble just google "Using an ea in mt4". There is loads of stuff all over the net. Well done with your trades.
  • #1,212
  • May 17, 2012 11:32pm May 17, 2012 11:32pm
Quoting Ozefex

Market crash lifts chances of rate cut



May 18, 2012 - 12:13PM


[left]Plunging sharemarkets and investor jitters driven by the European debt crisis have increased the chances of another 50 basis point cut from the Reserve Bank.
[color=#000000]Credit markets are currently tipping a two-in-three chance of a 50 basis point cut from the RBA when it meets on June 5. Last night, before this morning's share crash, the market had tipped...
That's a little way off yet and gbp has it's own problems.
  • #1,213
  • May 17, 2012 11:33pm May 17, 2012 11:33pm
Quoting Ozefex
I've lost count of the times I've thought I really should have traded the opposite to the way I first thought...

I went long on this at 1.60233. Daily stoch is heading down but maybe easing slightly, H4 stoch is still going up, M30 stoch is OB but "wiggling up", H1 stoch is OB but maybe turning??

I reckon it could have 30 pips in it to 1.60500 & then possibly turn down, or maybe 120 pips. If it breaks 120 pips (16/05 high), who knows?

As I said, its in an area of resistance & I'm undecided
You're looking at too many timeframes. If you look at every timeframe and try to work out what is going on based on the stochs you will drive yourself mad. Just choose 2 timeframes and stick with them. I recommend daily and then 1 hour but choose the ones that suit you.
  • #1,214
  • May 17, 2012 11:43pm May 17, 2012 11:43pm
Gbpaud pulling back strongly now. The 100 sma is my line in the sand, if it turns too far above that then it's no trade. The stochs are suggesting a turn but ha not changed yet so I wait.
Attached Image (click to enlarge)
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  • #1,215
  • May 17, 2012 11:45pm May 17, 2012 11:45pm
Dear Hugh

Thank you for your trading system. This really fits with my way of trading.
I started with a 6 euro account on may 1st. Now it is 20 euro and still 200 in open trades, all set to break even.
To get more profit, not the entry but the exit will make the big difference
  • #1,216
  • May 18, 2012 12:03am May 18, 2012 12:03am
Quoting rpvrpv
Dear Hugh

Thank you for your trading system. This really fits with my way of trading.
I started with a 6 euro account on may 1st. Now it is 20 euro and still 200 in open trades, all set to break even.
Absolutely stunning! Nice to hear someone else having some success.
  • #1,217
  • Edited 12:24am May 18, 2012 12:17am | Edited 12:24am
Quoting Hugh Briss
Gbpaud pulling back strongly now. The 100 sma is my line in the sand, if it turns too far above that then it's no trade. The stochs are suggesting a turn but ha not changed yet so I wait.
Yep - It's probably ready now. My SL just got hit at +25 pips (coincidentally my 1st target) at around the 100 sma on the hourly, so I’m happy with that.

Now, is GBP weaker than AUD ?
Still learning - No guarantees...
  • #1,218
  • May 18, 2012 12:57am May 18, 2012 12:57am
Quoting Ozefex
Yep - It's probably ready now. My SL just got hit at +25 pips (coincidentally my 1st target) at around the 100 sma on the hourly, so I’m happy with that.

Now, is GBP weaker than AUD ?
Possibly setting up now, a few minutes to go.
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  • #1,219
  • May 18, 2012 1:01am May 18, 2012 1:01am
I'm in with a 30 pip stop. The ea I am using is called Mauro trailing, it moves my stop to BE after 20 pips automatically so I don't have to babysit it.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpaud 18th may 2012 3.gif Size: 27 KB
  • #1,220
  • May 18, 2012 1:24am May 18, 2012 1:24am
Quoting Hugh Briss
I'm in with a 30 pip stop. The ea I am using is called Mauro trailing, it moves my stop to BE after 20 pips automatically so I don't have to babysit it.
Hi Hugh

Did your HA candle close as red?

Mine is going to close red at 10 am hopefully
Regards
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