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Swing trading with heiken ashi and stochs

  • #1,921
  • Jun 28, 2012 7:23am Jun 28, 2012 7:23am
Was up as much as 45 pips on an Aussie Long before going to bed last night - woke up to the surprise of an overnight reversal and disappearance of profit. And since my SL is just below the H1's 100 sma, I am not 10 pips away from being stopped out. Wow, what a ride! I thought I was on to something.

Maybe since the audusd is below the 100 sma on the D1, I will wait for a Short setup, rather than look for a Long re-entry...
  • #1,922
  • Jun 28, 2012 8:21am Jun 28, 2012 8:21am
[quote=drzeepfx;5794566]
Quoting Gizzledonk

It been a dry couple weeks - Just no mad swings for us to exploite -
EUR/USD is looking good - I got in an hour ago or so.... But is it a trend ?

It will happen agian soon - the pairs are primed we just need to watch for an open....
I'm sure we will see some trend after EU summit!
  • #1,923
  • Jun 28, 2012 9:57am Jun 28, 2012 9:57am
After my recent losing streak i decided to stay away from shorting CADJPY on pull back... now it's 100 pips down!
  • #1,924
  • Jun 28, 2012 10:28am Jun 28, 2012 10:28am
Quoting Igorman
After my recent losing streak i decided to stay away from shorting CADJPY on pull back... now it's 100 pips down!
Maybe you are like me, if it wasn't for bad luck I wouldn't have any luck at all (trading forex that is)!
  • #1,925
  • Jun 28, 2012 12:21pm Jun 28, 2012 12:21pm
Quoting piprac
Maybe you are like me, if it wasn't for bad luck I wouldn't have any luck at all (trading forex that is)!
Hmm yeah better stick to the strategy! it's good though, I never had a losing streak before, first time for everything. I'm stil a newb to forex!
  • #1,926
  • Jun 28, 2012 2:14pm Jun 28, 2012 2:14pm
Quoting Igorman
After my recent losing streak i decided to stay away from shorting CADJPY on pull back... now it's 100 pips down!
That's a classic error. Your previous losses have nothing to do with your future trades. (unless you keep shorting the same pair while it's going up!)
  • #1,927
  • Edited 1:54am Jun 29, 2012 1:42am | Edited 1:54am
http://imageshack.us/photo/my-images...1285152am.png/Hi,

I am new on board and I finished reading through almost all the thread (it took me three full nights ). Allow me to put some snapshots with my “thinking out loud”-comments and ask for your feedback.

I was looking yesterday at EURUSD where a cross of D1 Stoch seemed to prepare. This morning I see a spike of almost 180 pips in just 30 minutes and I have to resist to not make an error I did far to many times in the past, which is jumping on the running train and then get hit by a first pullback and run into loss right away.

Here my “analysis”:

http://img225.imageshack.us/img225/4...01285152am.png



Am I ok so far ?

Another question about the entry: So when the trigger candle comes up (let´s say first white candle for long after stoch cross), when exactly you enter?

 

  1. Do you buy already during formation of the trigger candle when you think it cannot turn red anymore,
  2. on the close of that candle/ open of next candle?
  3. Or would it even be safer to wait until the price exceeds the high of the trigger candle. In the later case I see two positive sides: one could put a pending order and not run into nasty re-quotes, and by that price action we would have an additional indication that trend turned really around.


Looking forward to your comments,

  • #1,928
  • Jun 29, 2012 2:09am Jun 29, 2012 2:09am
Quoting Frenchie
http://imageshack.us/photo/my-images...1285152am.png/Hi,

I am new on board and I finished reading through almost all the thread (it took me three full nights ). Allow me to put some snapshots with my “thinking out loud”-comments and ask for your feedback.

I was looking yesterday at EURUSD where a cross of D1 Stoch seemed to prepare. This morning I see a spike of almost 180 pips in just 30 minutes and I have to resist to not make an error I did far to many times in the past, which...
Bonjour Frenchie! You are on the right track but there are some things to consider. The 180 pip spike was because of the announcement at the EU summit overnight. This is not a good time to trade eurusd because of the volatility around, and it's Friday which I find is never a good day to take positions.

The general mood on eurusd is still bearish as far as I see it, the trend on the daily is down and I'm not sure that it will change just because of the announcements made so far. There is still not a good technical or fundamental reason to buy this pair.

To answer your questions about timing the entry I would always wait for the close of a candle. Have you read the latest version linked to at the top of the first page? The system is to wait for a daily ha change and stoch cross in the direction of the prevailing trend. Then move to the 1 hour chart and trade the pullbacks in the following trend using the 100 sma as a guide. If the 100 sma is breached the wrong way then you stop trading it.

So, you are right that eurusd is not the pair to trade right now unless it turns down again. Maybe there are some other pairs setting up better?
  • #1,929
  • Jun 29, 2012 10:24am Jun 29, 2012 10:24am
Can someone recommend a site for concise, comprehensive, currency-related news and schedules?

Thanks?
  • #1,930
  • Jun 29, 2012 10:29am Jun 29, 2012 10:29am
Quoting Traderbry
Can someone recommend a site for concise, comprehensive, currency-related news and schedules?

Thanks?
uhmm - this one! Click the tabs at the top of the page. I find the "Market" tab to be indispencible.
  • #1,931
  • Jun 29, 2012 10:45am Jun 29, 2012 10:45am
Hugh,

Thanks for the interesting thread. I've read through the new strategy and believe this might be a good fit. I'm always looking for a strategy I can use to employ Graeme's Millipede methods. This might fit the bill.

I'm going to change it up for my trading style. I want to try and use the weekly as my trend indicator and then go down the the H4 for trading. I think this might have several advantages for me.

Less missed trades due to being away from screen.
Less chop from news and session bias
Less damage from spread (opens up more pairs)

I'm also going to look to retain positions for unlimited growth potential (re: Equity Millipede) while closing out some for immediate equity growth.

Anyways...basically using your strategy with W1 & H4 tf's. If you don't think it will confuse matters, I'll post some results and trades as well.
  • #1,932
  • Jun 29, 2012 12:43pm Jun 29, 2012 12:43pm
Quoting spyderman
Hugh,

Thanks for the interesting thread. I've read through the new strategy and believe this might be a good fit. I'm always looking for a strategy I can use to employ Graeme's Millipede methods. This might fit the bill.

I'm going to change it up for my trading style. I want to try and use the weekly as my trend indicator and then go down the the H4 for trading. I think this might have several advantages for me.

Less missed trades due to being away from screen.
Less chop from news and session bias
Less damage from spread (opens up more pairs)...
Hi, yes, post anything you like, I know lots of people trade a version of this rather than the complete thing. I think it will help others to see what you are doing with it.
  • #1,933
  • Jun 29, 2012 1:33pm Jun 29, 2012 1:33pm
Quoting piprac
uhmm - this one! Click the tabs at the top of the page. I find the "Market" tab to be indispencible.

Ha! Wow - thanks piprac. I come here for this thread and that's all. Thanks for showing me something I have obviously been missing. Have a great weekend all.
  • #1,934
  • Jun 30, 2012 1:28am Jun 30, 2012 1:28am
Hello HB, everybody,

so daily stoch crossed up on EURUSD. However it is still against the nicely downwards sloping MA100.
Would you neglect it completely in this case or plan still an entry on H1?


http://img35.imageshack.us/img35/671...12110020pm.png

On the H1 the MA100 started sloping upwards.
So if our decision is to go against D1 allover trend (MA100) - but still using the stoch cross there, we wait here on H1 for retrace of price, the stochs should go below 20 and cross in that OS area. Correct ?

Would you at all buy on a stoch cross above the 20 area?

http://img841.imageshack.us/img841/8...01281503am.png


Bon weekend,
http://imageshack.us/photo/my-images...2110020pm.png/http://imageshack.us/photo/my-images...1281503am.png/
  • #1,935
  • Jun 30, 2012 1:32am Jun 30, 2012 1:32am
Quoting Frenchie
Hello HB, everybody,

so daily stoch crossed up on EURUSD. However it is still against the nicely downwards sloping MA100.
Would you neglect it completely in this case or plan still an entry on H1?


On the H1 the MA100 started sloping upwards.
So if our decision is to go against D1 allover trend (MA100) - but still using the stoch cross there, we wait here on H1 for retrace of price, the stochs should go below 20 and cross in that OS area. Correct ?

Would you at all buy on a stoch cross above the 20 area?


Bon weekend
I'm leaving the euro alone completely at the moment, who knows what will happen next? Aud pairs look better to trade.
  • #1,936
  • Jun 30, 2012 6:54am Jun 30, 2012 6:54am
Quoting Frenchie


Would you at all buy on a stoch cross above the 20 area?


http://imageshack.us/photo/my-images...2110020pm.png/http://imageshack.us/photo/my-images...1281503am.png/

Hugh,

Frenchie's quote did raise a question for me that I wanted clarified. Am I correct in thinking that it doesn't matter where the Stoch cross happens or are we looking for only +80 -20 areas (depending on our direction)?
  • #1,937
  • Jun 30, 2012 7:08am Jun 30, 2012 7:08am
Quoting spyderman
Hugh,

Frenchie's quote did raise a question for me that I wanted clarified. Am I correct in thinking that it doesn't matter where the Stoch cross happens or are we looking for only +80 -20 areas (depending on our direction)?
All the stochastics can tell you is the strength of the pullback. A good, smooth pullback will go nearer the extremes but if the turn is smooth and the HA change is convincing then it's still ok to take the trade.
  • #1,938
  • Jul 1, 2012 1:48pm Jul 1, 2012 1:48pm
Quoting Hugh Briss
(..) A good, smooth pullback will go nearer the extremes but if the turn is smooth and the HA change is convincing then it's still ok to take the trade.
Hi HB,

could you explain and help me to visualize how a smooth stoch cross and/or the opposite of it looks like?

http://img513.imageshack.us/img513/9083/smooth1.png


Thank you,
  • #1,939
  • Jul 1, 2012 2:07pm Jul 1, 2012 2:07pm
Quoting Frenchie
Hi HB,

could you explain and help me to visualize how a smooth stoch cross and/or the opposite of it looks like?

Thank you,
Yes, all over the start of the thread! Hang on, I'll link one.
  • #1,940
  • Jul 1, 2012 2:08pm Jul 1, 2012 2:08pm
3 nice ones in a row...

http://www.forexfactory.com/showthre...29#post5354629

If the lines have been seperate and moving in the same direction roughly parallel for a while and then they cross without any chopping about then it counts as smooth.
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