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Swing trading with heiken ashi and stochs

  • #1,221
  • May 18, 2012 3:34am May 18, 2012 3:34am
Hugh,

As I've noted before - I'm glad you recommended the even number s/r levels. It's interesting how even the GBPAUD respects theseto some degree (the M5 chart zoomed out gives a reasable view). I'd have to wonder - "who the hell cares for this pair?" Some big traders (or their algorithms) obviously do.

The H1 100 sma also shows good s/r attributes as you've also mentioned.

I'm now short on the GBPAUD @ 1.60443 with a SL @ -10 (moved from -25 & -15 as I wrote this).

Now if this lasts I'll have to try your trailing SL ...
Attached Image (click to enlarge)
Click to Enlarge Name: ga short m5.PNG Size: 75 KB
Still learning - No guarantees...
  • #1,222
  • May 18, 2012 4:05am May 18, 2012 4:05am
Quoting howard
Hi Hugh

Did your HA candle close as red?

Mine is going to close red at 10 am hopefully
No, it opened red but it was nearly a heiken ashi doji so I entered on that candle.

Take a look here... http://www.forexfactory.com/showthre...65#post5356465
  • #1,223
  • May 18, 2012 4:08am May 18, 2012 4:08am
Quoting Ozefex
Hugh,

As I've noted before - I'm glad you recommended the even number s/r levels. It's interesting how even the GBPAUD respects theseto some degree (the M5 chart zoomed out gives a reasable view). I'd have to wonder - "who the hell cares for this pair?" Some big traders (or their algorithms) obviously do.

The H1 100 sma also shows good s/r attributes as you've also mentioned.

I'm now short on the GBPAUD @ 1.60443 with a SL @ -10 (moved from -25 & -15 as I wrote this).

Now if this lasts I'll have to try your trailing SL ...
Take a look at the 25 levels on eurusd and audusd (most pairs in fact). Every 25 pips there seems to be some kind of reaction. Try using the quick draw indie attached. Only use it for lower timeframes though or it clutters everything up.
Attached File(s)
File Type: mq4 quick draw.mq4   2 KB | 329 downloads
  • #1,224
  • May 18, 2012 4:15am May 18, 2012 4:15am
Please rate the thread everyone.
  • #1,225
  • May 18, 2012 5:02am May 18, 2012 5:02am
After two hours not much going on. The 100 sma acted as resistance to the pip by the look of things. Also I think the 50 level is helping. Trade at around the entry price. Stochs and HA still saying hold the short, hopefully we'll see some positive action over the next few hours and get this to break even.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpaud 18th may 2012 4.gif Size: 27 KB
  • #1,226
  • May 18, 2012 5:12am May 18, 2012 5:12am
Quoting Ozefex
Hugh,
....
I'm now short on the GBPAUD @ 1.60443 with a SL @ -10 (moved from -25 & -15 as I wrote this).

Now if this lasts I'll have to try your trailing SL ...
Just got home from work to find my GA short is around +20 pips! Nice to make (even play) money while on the train.

Have just give this thread 5 stars!
Still learning - No guarantees...
  • #1,227
  • May 18, 2012 6:01am May 18, 2012 6:01am
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.
If the HA changes color but stochs, even if crossed, are still above the 80 line do you take the trade? Or wait to see if stochs go below 80?
  • #1,228
  • May 18, 2012 6:06am May 18, 2012 6:06am
This is my trade chart from 29th April to earlier today following this method as best I can (with my own twist sometimes...). Over 700 pips in 3 weeks of part time trading - not to mention the 30+ pips (..39) on the current GA short which is looking like it might continue.

Note this is a demo at the moment.

In this time I've traded this account as if it was live, kept my stops to reasonable levels and not exposed my account to a major loss (there have been occasions with a few trades on, but I tried to keep to non related pairs).

Current trade is sitting on 1.6000 level so will wait & see if it breaks low.
Attached Image (click to enlarge)
Click to Enlarge Name: Trade Chart.PNG Size: 58 KB
Still learning - No guarantees...
  • #1,229
  • May 18, 2012 6:23am May 18, 2012 6:23am
Quoting Ozefex
Just got home from work to find my GA short is around +20 pips! Nice to make (even play) money while on the train.

Have just give this thread 5 stars!
Good one, thanks.
  • #1,230
  • May 18, 2012 6:24am May 18, 2012 6:24am
Quoting piprac
If the HA changes color but stochs, even if crossed, are still above the 80 line do you take the trade? Or wait to see if stochs go below 80?
I will take the trade with the stochs above 80 if all other conditions are right.
  • #1,231
  • May 18, 2012 6:25am May 18, 2012 6:25am
Current short with 40 pip trailing stop (hourly range is approx. 30 pip). Expecting (?) this to penetrate the 1.6000 level given current momentum.

Will look at setting up trailing stop on the SMA but as this is Friday (night for me), will have to consider if I leave it open over the w/e and set the trailing stop up again on Monday.

Ozefex.
Attached Image (click to enlarge)
Click to Enlarge Name: ga short h1 - 11.15 gmt.PNG Size: 59 KB
Still learning - No guarantees...
  • #1,232
  • May 18, 2012 6:25am May 18, 2012 6:25am
Quoting Ozefex
This is my trade chart from 29th April to earlier today following this method as best I can (with my own twist sometimes...). Over 700 pips in 3 weeks of part time trading - not to mention the 30+ pips (..39) on the current GA short which is looking like it might continue.

Note this is a demo at the moment.

In this time I've traded this account as if it was live, kept my stops to reasonable levels and not exposed my account to a major loss (there have been occasions with a few trades on, but I tried to keep to non related pairs).

Current trade...
Looking good. That will give you some confidence when you go live.
  • #1,233
  • May 18, 2012 6:29am May 18, 2012 6:29am
Stop to break even. Was 40 pips up at one point but I think the 1.60 level may provide some support before we see lower prices. Switched ea's from mauro trailing to moving average trailing behind the 100 sma, see how much profit I can lock in before it gets taken out. I will be watching for a smooth pullback and adding on if possible. I'll post if anything happens. Glad I managed to spot something and get screen shots in real time as it set up. Hopefully this will give us a good strong trend now and I can show you exactly how I like to trade.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpaud 18th may 2012 5.gif Size: 27 KB
  • #1,234
  • May 18, 2012 6:58am May 18, 2012 6:58am
Out at break even and almost exactly to the pip! Oh well, on to the next one. I'll post as anything sets up.
  • #1,235
  • May 18, 2012 6:58am May 18, 2012 6:58am
Hi All.....

Thanks Hugh for all the good work you're doing here... I am very busy lately but every chance I get I've been following this thread with interest. I am currently (demo) trading a very similar method with very slight entry and exit rules and am having good success..I intend on going live in a couple of weeks with a small enough account at first. Glad to have found this thread as it's good to see a slightly different angle on my approach... When I get a bit more time I'll share it with anyone that's interested, with Hugh's permission of course, as I don't want to distract from the working going on here..(you never know..it might be of some help to you guys). In the mean time keep up the good work...

Continued success to all...

Blinkers..........
  • #1,236
  • Edited 8:32am May 18, 2012 7:11am | Edited 8:32am
Stopped out at 1.60342 (+10.1) pips while I wasn't looking (beer o'clock - well 10:00 pm anyway). Re-entered at 1.60198 as I expect this was just a bounce off 1.60000. SL above last H1 candle at -18 pips. Try again.

Stopped out -18. Next week..
Still learning - No guarantees...
  • #1,237
  • May 18, 2012 7:13am May 18, 2012 7:13am
Quoting fxblinkers
Hi All.....

Thanks Hugh for all the good work you're doing here... I am very busy lately but every chance I get I've been following this thread with interest. I am currently (demo) trading a very similar method with very slight entry and exit rules and am having good success..I intend on going live in a couple of weeks with a small enough account at first. Glad to have found this thread as it's good to see a slightly different angle on my approach... When I get a bit more time I'll share it with anyone that's interested, with Hugh's permission...
Hi, no problem, post anything here that you think will be useful.
  • #1,238
  • May 18, 2012 7:28am May 18, 2012 7:28am
Quoting Hugh Briss
Out at break even and almost exactly to the pip! Oh well, on to the next one. I'll post as anything sets up.

Thanks HB - Learning a lot .... I think this is a break even week for me, with no regrets would have been up a ton had I understood the exits and EA better, so things look bright - and thanks to that EA, I have build a lot of confidence in this system and myself... I need to figure out the exact USA Forex rules to see how closely I can emulate your trading style - those sweet pairs you guys are watching have terrible spreads with my broker I am trying to keep the spread under 7 on anything I trade and even 7 makes me wince prefer the ones I can trade for 3... ANY AMERICANS here that might be able to offer up a link to the differences in rules (Google here I come)- So for me this is a matter of getting orginized I think.

Looking forward to next week ....

Happy to see Ozefx posting again....

Drzeep....
  • #1,239
  • May 18, 2012 8:10am May 18, 2012 8:10am
My views on this method is that D1H1 combination is excellent, but the weakness is the stop application: stops should be placed above the recent swing high (for shorts like GBPAUD today) and left there until the hourly 100 sma trailing kicks in.
Regards
  • #1,240
  • May 18, 2012 8:57am May 18, 2012 8:57am
Quoting drzeepfx
Thanks HB - Learning a lot .... I think this is a break even week for me, with no regrets would have been up a ton had I understood the exits and EA better, so things look bright - and thanks to that EA, I have build a lot of confidence in this system and myself... I need to figure out the exact USA Forex rules to see how closely I can emulate your trading style - those sweet pairs you guys are watching have terrible spreads with my broker I am trying to keep the spread under 7 on anything I trade and even 7 makes me wince prefer the ones I can...
Sorry I can't help with that one. Agreed we are seeing a good group of people posting here now and looking forward to getting some pips banked.
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