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Swing trading with heiken ashi and stochs

  • #1,581
  • Edited 7:22am Jun 7, 2012 7:06am | Edited 7:22am
Quoting Ozefex
Hugh, I followed you in on the USDJPY trade today after checking the daily & hourly charts. I was a bit concerned with the apparent resistance showing on the 4 hourly and a pullback from that, but now it is looking good.

....
I still wasn't comfortable with my buy on USDJPY given the USD weakness against other pairs so closed at a small profit. Entered short on USDCHF @ 0.95420 (perhaps a little early given it was sitting on support). SL @ 0.95550. (edit: forgot about pending US jobless claims, so my stop is probably too tight at 13 pips...)
Still learning - No guarantees...
  • #1,582
  • Jun 7, 2012 7:18am Jun 7, 2012 7:18am
Quoting Phiksalamuk
Second position now at BE. Love this system..... I'm struggling however with the exit strategy. My feeling tell me to close all positions at 1.0207 where we could see a bounce on the daily.... What do you think Hugh and fellow traders ?
I considered your trade before I took USDCHF but they appear much the same. Depends on continued USD weakness. The daily charts show a potential fall for a week or more. Will have to see how they develop but UC could be good for another 150 pips if this continues.
Still learning - No guarantees...
  • #1,583
  • Jun 7, 2012 7:18am Jun 7, 2012 7:18am
Quoting Phiksalamuk
Second position now at BE. Love this system..... I'm struggling however with the exit strategy. My feeling tell me to close all positions at 1.0207 where we could see a bounce on the daily.... What do you think Hugh and fellow traders ?
If you trail behind the 100 sma you will always give some pips back but you definitely won't close out before the trend ends. What if you close at 1.0207 and it rockets lower? Would you feel more upset at closing the trade early when you had multiple positions making you money or more upset at giving pips back but still making a decent profit if it reverses?
  • #1,584
  • Jun 7, 2012 7:21am Jun 7, 2012 7:21am
Quoting Ozefex
I still wasn't comfortable with my buy on USDJPY given the USD weakness against other pairs so closed at a small profit. Entered short on USDCHF @ 0.95420 (perhaps a little early given it was sitting on support). SL @ 0.95550.
Usdjpy follows different rules to the other pairs. Usdchf could be going down and usdjpy still go up. I'm looking at this more as a long term trade. The last daily push up lasted nearly 2 months. If this is the start of the next long push up then does a little bit of up and down at the start matter that much? Of course it could just go down from here but I've got a stop loss on it.
  • #1,585
  • Jun 7, 2012 7:24am Jun 7, 2012 7:24am
I can't wait to see the Dr's usdcad chart!
  • #1,586
  • Jun 7, 2012 7:36am Jun 7, 2012 7:36am
Quoting Ozefex
I still wasn't comfortable with my buy on USDJPY given the USD weakness against other pairs so closed at a small profit. Entered short on USDCHF @ 0.95420 (perhaps a little early given it was sitting on support). SL @ 0.95550. (edit: forgot about pending US jobless claims, so my stop is probably too tight at 13 pips...)
Don't look at usdjpy now!
  • #1,587
  • Jun 7, 2012 7:42am Jun 7, 2012 7:42am
Quoting Hugh Briss
Usdjpy follows different rules to the other pairs. Usdchf could be going down and usdjpy still go up. I'm looking at this more as a long term trade. The last daily push up lasted nearly 2 months. If this is the start of the next long push up then does a little bit of up and down at the start matter that much? Of course it could just go down from here but I've got a stop loss on it.
I'd say you are ok now following US employment claims being better than expected. Has lifted USDJPY above the consolidation area so maybe it'll continue. Not much reaction on USDCHF yet although USDCAD has pulled back a little. (edit: yeah, I looked...)
Still learning - No guarantees...
  • #1,588
  • Jun 7, 2012 7:46am Jun 7, 2012 7:46am
Quoting Hugh Briss
Don't look at usdjpy now!
Could've gone the other way if the unemployment figures were worse. You're right though, JPY pairs are different.
Still learning - No guarantees...
  • #1,589
  • Jun 7, 2012 7:53am Jun 7, 2012 7:53am
Good Day,

USD/CAN positions closed - for 260+ I will be on vacation tomorrow and the office today and it looked best for me and my brain....

To anyone still in USD/CAN - there are some interesting things on today's calender and D1 still looks like it saying SELL - So watch your positions close.
  • #1,590
  • Jun 7, 2012 7:57am Jun 7, 2012 7:57am
[quote=drzeepfx;5737373]Good Day, ... quote]

Certainly was!
Still learning - No guarantees...
  • #1,591
  • Jun 7, 2012 8:04am Jun 7, 2012 8:04am
Quoting drzeepfx
Good Day,

USD/CAN positions closed - for 260+ I will be on vacation tomorrow and the office today and it looked best for me and my brain....

To anyone still in USD/CAN - there are some interesting things on today's calender and D1 still looks like it saying SELL - So watch your positions close.
That's a fantastic result. Shame you had to close early.
  • #1,592
  • Jun 7, 2012 8:26am Jun 7, 2012 8:26am
Quoting Hugh Briss
If you trail behind the 100 sma you will always give some pips back but you definitely won't close out before the trend ends. What if you close at 1.0207 and it rockets lower? Would you feel more upset at closing the trade early when you had multiple positions making you money or more upset at giving pips back but still making a decent profit if it reverses?
Agreed, but 100 SMA is still so far from my first position and it's just turning down now... Coming from the scalping world where I'm used to scalp for 10/15 pips, it's a bit scary to see the potential profit unlocked (+135pips currently).... In all cases, both positions are at break even, so nothing to loose.... Let's see what the market wants to give me.....
  • #1,593
  • Jun 7, 2012 8:46am Jun 7, 2012 8:46am
Phiksalumuk, have you tried plotting the 34EMA that Hugh talked about earlier today?

I had the same thoughts as you regarding the 100SMA.

Hugh, thanks a lot for starting and posting still in this thread, it's a real eye opener for me. If I could have half the success on my live accounts as I have had this week on my demo account with this method alone I will be a happy man. Even the quieter Monday and Tuesday were profitable days.

Is this an exceptional week in your opinion?
I understand we need to find trending pairs on D1, in your months of trading this method have you found periods where it is difficult to get on a trend and keep getting stopped out?
  • #1,594
  • Jun 7, 2012 9:07am Jun 7, 2012 9:07am
Quoting Hugh Briss
That's a fantastic result. Shame you had to close early.
I know, I dont even want to look - There is still plenty of PIPs left to run. I know a couple others are in the USDCAN and will make out real well - But I leave affter a half day at the office and wont return till Saturday -

My faith has not yet been established in the EA to close positions - Becuase I dont really understand it - Thats my weakest point right now. So I will focus on that Saturday I saw some talk about EMA38 ?

Keep up all the good work -

Hugh, this time next year I am brinning the Familey to the UK for sight seeing and to take in a soccor match - I will buy you a pint or two --- FOREX Gods and 250+ PIPs per week willing --

Finish up the week strong everyone !!!!!
  • #1,595
  • Jun 7, 2012 9:32am Jun 7, 2012 9:32am
Quoting normtold
Phiksalumuk, have you tried plotting the 34EMA that Hugh talked about earlier today?

I had the same thoughts as you regarding the 100SMA.

Hugh, thanks a lot for starting and posting still in this thread, it's a real eye opener for me. If I could have half the success on my live accounts as I have had this week on my demo account with this method alone I will be a happy man. Even the quieter Monday and Tuesday were profitable days.

Is this an exceptional week in your opinion?
I understand we need to find trending pairs on D1, in your months...
Thanks Normtold. 34 SMA High lets me more comfortable. I've heard as well that others are using 8 SMA on the daily to capture the daily trend....
  • #1,596
  • Jun 7, 2012 9:56am Jun 7, 2012 9:56am
Quoting normtold
Phiksalumuk, have you tried plotting the 34EMA that Hugh talked about earlier today?

I had the same thoughts as you regarding the 100SMA.

Hugh, thanks a lot for starting and posting still in this thread, it's a real eye opener for me. If I could have half the success on my live accounts as I have had this week on my demo account with this method alone I will be a happy man. Even the quieter Monday and Tuesday were profitable days.

Is this an exceptional week in your opinion?
I understand we need to find trending pairs on D1, in your months...
Not that exceptional. I have problems all the time getting something started and taking losses and break evens but I definitely have faith in my system and I know that when I catch a big one I'm banking good money.
  • #1,597
  • Jun 7, 2012 9:56am Jun 7, 2012 9:56am
First addon stopped out at BE. Still holding the initial one...
  • #1,598
  • Jun 7, 2012 11:05am Jun 7, 2012 11:05am
Quoting drzeepfx
I know, I dont even want to look - There is still plenty of PIPs left to run. I know a couple others are in the USDCAN and will make out real well - But I leave affter a half day at the office and wont return till Saturday -

My faith has not yet been established in the EA to close positions - Becuase I dont really understand it - Thats my weakest point right now. So I will focus on that Saturday I saw some talk about EMA38 ?

Keep up all the good work -

Hugh, this time next year I am brinning the Familey to the UK for sight seeing and to...
No worries, see you next year.

All the ea does is move the stop loss/es a certain distance behind whichever moving average you set. The 34 ema calculated on the high price and the 34 ema of the low make a channel of the two moving averages. Put them on a chart and go back through some good trends and notice how the price tends to stay above or below them. So in a downtrend you would use the 34 ema of the high and trail the stops 10 pips behind it. When the ma is breached, ie price breaks through it instead of finding resistance there then your trades will be stopped out.

This is a way you can leave the trade to run without watching it, you just leave your computer on with the ea running and every hour you reduce your risk or lock in more profit.
  • #1,599
  • Jun 7, 2012 11:09am Jun 7, 2012 11:09am
Quoting Hugh Briss
No worries, see you next year.

All the ea does is move the stop loss/es a certain distance behind whichever moving average you set. The 34 ema calculated on the high price and the 34 ema of the low make a channel of the two moving averages. Put them on a chart and go back through some good trends and notice how the price tends to stay above or below them. So in a downtrend you would use the 34 ema of the high and trail the stops 10 pips behind it. When the ma is breached, ie price breaks through it instead of finding resistance there then your...
Thanks Hugh, I am looking forward to studying this and getting the EA in service - Have a good weekend !!!!
  • #1,600
  • Jun 7, 2012 11:16am Jun 7, 2012 11:16am
Quoting Phiksalamuk
First addon stopped out at BE. Still holding the initial one...
Let us know how you do - I would like someone to exploit this move for all the PIPs it offers up..

Get all those PIPs..
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