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Swing trading with heiken ashi and stochs

  • #1,541
  • Jun 6, 2012 8:55am Jun 6, 2012 8:55am
Does Nzd/Usd look good for a long if H1 HA close positive?
Eur/Usd H1 HA is lagging behind Nzd/Usd.

Maybe also a sell on Usd/Chf and Usd/Cad if HA changes to red on H1.
  • #1,542
  • Jun 6, 2012 9:24am Jun 6, 2012 9:24am
Quoting Chaosfreak
Took addon on AUD/NZD at 1.2929. Hope to get to BE soon.
I'm waiting for a better signal on that one.

Stopped at break even on my first eurusd trade but just reentered at 1.25. The news spiked it down now hopefully the trend will continue.
  • #1,543
  • Jun 6, 2012 9:39am Jun 6, 2012 9:39am
Quoting normtold
Does Nzd/Usd look good for a long if H1 HA close positive?
Eur/Usd H1 HA is lagging behind Nzd/Usd.

Maybe also a sell on Usd/Chf and Usd/Cad if HA changes to red on H1.
Sorry to be a bit delayed but yes, it looks as good as any other xxxusd pair. I prefer eurusd over that though.
  • #1,544
  • Jun 6, 2012 9:40am Jun 6, 2012 9:40am
I've got a pending sell ordr below 1.0307 on usdcad. If it breaks that I think we should see a good run.
  • #1,545
  • Jun 6, 2012 9:46am Jun 6, 2012 9:46am
Quoting Hugh Briss
I've got a pending sell ordr below 1.0307 on usdcad. If it breaks that I think we should see a good run.
Same thoughts, I had a brain spasm a few minutes ago so I'm already in it for a sell. Shouldv'e waited a bit I think,,
Don't ask me, I have no idea what's going on.
  • #1,546
  • Jun 6, 2012 10:35am Jun 6, 2012 10:35am
Stopped out on both trades . What's your opinion, would you look for reentry or forget this pair?
  • #1,547
  • Jun 6, 2012 10:57am Jun 6, 2012 10:57am
Quoting Hugh Briss
As many times as it pulls back. This usually means you will lose money on your last trade of the position but on a good long trend you will have hundreds of pips locked in anyway so a 30 pip loser won't be too much of a worry.
I do see now what you mean.
I got 2 times stopped out at Be on EUR/Yen but the first trade is still open for more then 100 pips.
To get more profit, not the entry but the exit will make the big difference
  • #1,548
  • Jun 6, 2012 11:19am Jun 6, 2012 11:19am
Hi Hugh and fellow traders,

I've been reading through the thread and like it. Wanted to give it a try as I'm used to short time frame but was eager to find a swing strategy that suits me.

I'm with you guys on USDCAD. Sell at 1.0315. Currently at BE.
  • #1,549
  • Jun 6, 2012 11:39am Jun 6, 2012 11:39am
what is the use of the EA on http://www.forexfactory.com/showthre...95#post5692295

as far as i know MT4 provides a trailing stoploss so there must be something special about the EA of that post which i cant understand,

has anyone used it? is it helpful ?

aud/usd has has breached the 100 sma.
what are your opinions on that ??
  • #1,550
  • Jun 6, 2012 1:22pm Jun 6, 2012 1:22pm
Quoting Chaosfreak
Stopped out on both trades . What's your opinion, would you look for reentry or forget this pair?
Audnzd? Depends on if you fancy the risk. It looks a little choppy but if it bounces again from the 100 sma it could be a good trade, who knows? You have Sydney and the Asian sessions to move it.
  • #1,551
  • Jun 6, 2012 1:25pm Jun 6, 2012 1:25pm
Quoting rpvrpv
I do see now what you mean.
I got 2 times stopped out at Be on EUR/Yen but the first trade is still open for more then 100 pips.
It's no problem to have lots of break evens, they will happen. If it keeps pulling back then keep adding. It's like throwing mud at a wall enough times, eventually some will stick. Don't close the first trade until you have a good reason to do so. "It's 150 pips up and I don't want to give it back" is not a good reason! Trail behind the 100 sma or if it's moving fast you could use the 50 or 34 sma/ema.
  • #1,552
  • Jun 6, 2012 1:25pm Jun 6, 2012 1:25pm
Quoting Phiksalamuk
Hi Hugh and fellow traders,

I've been reading through the thread and like it. Wanted to give it a try as I'm used to short time frame but was eager to find a swing strategy that suits me.

I'm with you guys on USDCAD. Sell at 1.0315. Currently at BE.
Nice one, should be a good trade. Wait for a decent pullback and then add another trade.
  • #1,553
  • Jun 6, 2012 1:29pm Jun 6, 2012 1:29pm
Quoting sifyragnarok
what is the use of the EA on http://www.forexfactory.com/showthre...95#post5692295

as far as i know MT4 provides a trailing stoploss so there must be something special about the EA of that post which i cant understand,

has anyone used it? is it helpful ?

aud/usd has has breached the 100 sma.
what are your opinions on that ??
The metatrader trailing stop is only a "profit" trailing stop. That means your trade has to go x pips in profit before the trailing stop will start to trail from 0. I'm not sure which ea you mean but a lot of trailing stop ea's will trail from the start of the trade so you don't have to go a number of pips in profit before it will trail. There is an ea called just trailing stop and that can be set to trail all trades on all pairs by the same amount and at the same time and has sound on it too, it's quite cool.

Audusd looks like a nice pair to be trading long for a while, I'd wait for a pullback and then get in. The break of an ma on it's on can be used as an entry but slightly higher risk.
  • #1,554
  • Jun 6, 2012 1:32pm Jun 6, 2012 1:32pm
I've taken profit on all my open trades. I won't be at home tonight and so can't trail anything. I banked about 60 pips total today but it looks like there are some good trends possibly about to start. I will assess the situation tomorrow and pick one pair to start trading, probably eurusd but maybe usdcad or audusd. I want to concentrate on one pair and build a position rather than having too many trades open on different pairs. It's better for my psychology that way.
  • #1,555
  • Jun 6, 2012 2:09pm Jun 6, 2012 2:09pm
Quoting Hugh Briss
I've taken profit on all my open trades. I won't be at home tonight and so can't trail anything. I banked about 60 pips total today but it looks like there are some good trends possibly about to start. I will assess the situation tomorrow and pick one pair to start trading, probably eurusd but maybe usdcad or audusd. I want to concentrate on one pair and build a position rather than having too many trades open on different pairs. It's better for my psychology that way.
You are right on all of those points....... will be watching too...
  • #1,556
  • Jun 6, 2012 2:13pm Jun 6, 2012 2:13pm
Here are my positions right now - If you have been following my posts you will notice I changed MY SL last min before leaveing for the office.

UP around 150 PIPs now accross 3 positions.

I wont be home for another 4 hours so let the slide continue....

I am excited to see what HB will do in the AM ...

Drzeep.
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  • #1,557
  • Jun 6, 2012 3:02pm Jun 6, 2012 3:02pm
Quoting Hugh Briss
It's no problem to have lots of break evens, they will happen. If it keeps pulling back then keep adding. It's like throwing mud at a wall enough times, eventually some will stick. Don't close the first trade until you have a good reason to do so. "It's 150 pips up and I don't want to give it back" is not a good reason! Trail behind the 100 sma or if it's moving fast you could use the 50 or 34 sma/ema.
I am not sure what you mean when you say trail behind the 100 SMA, it would often give all the profit back and go negative from what I can see, in the 2 charts posted below.
But perhaps that is what is necessary with this method to build large positions as long as D1 HA and Stochastics agree?

It is a hard habit to break to stop taking a % off when in profit and trail the S/L behind the last swing low.
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  • #1,558
  • Jun 6, 2012 3:26pm Jun 6, 2012 3:26pm
Quoting normtold
I am not sure what you mean when you say trail behind the 100 SMA, it would often give all the profit back and go negative from what I can see, in the 2 charts posted below.
But perhaps that is what is necessary with this method to build large positions as long as D1 HA and Stochastics agree?

It is a hard habit to break to stop taking a % off when in profit and trail the S/L behind the last swing low.
The 100 sma is not always the best to trail behind but in the beginning of a trend it won't trail too aggressively. As the trend develops you can start using shorter and shorter ma's until you are stopped out on the first big retrace but the 100 sma is a good place to start. You will find that even the 100 sma can get you out of a trend at a good point on most occasions but yet on others it will give back far too much.

I have been looking at the 34 ema of the high and low prices, a wave. Lots of threads and books mention it and it does seem to do a good job of keeping you in the trade without giving too much back when the trend ends.

In an uptrend trail behind the low price and in a downtrend trail below the high price.
  • #1,559
  • Jun 6, 2012 3:29pm Jun 6, 2012 3:29pm
@drzeepfx nice trades......
  • #1,560
  • Jun 6, 2012 3:53pm Jun 6, 2012 3:53pm
Quoting hwo144
@drzeepfx nice trades......
Agreed, good trading.

I've been having the problem of work interrupting my trading & analysis lately so have given back last weeks profits... Got to get back to the basics again.

Some good things happening here HB.
Still learning - No guarantees...
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