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Swing trading with heiken ashi and stochs

  • #2,221
  • Aug 15, 2012 9:34am Aug 15, 2012 9:34am
Great to see that MRLUCKYSTAR is back. This lurker for one has missed him.
Do not dwell in the past, do not dream of the future, concentrate the mind.
  • #2,222
  • Aug 16, 2012 8:45pm Aug 16, 2012 8:45pm
Quoting mrluckystar
hi hugh...

long time not post here...

nice gain on ur account.... looking foward to contribute here again...

regards.
welcome back mrluckystar!
  • #2,223
  • Aug 17, 2012 2:19am Aug 17, 2012 2:19am
Hi,

in this situation on the daily, would you still look into a short signal on the H1. Or is it more adivsable to stay aside and if the candle closes with a stoch cross upwards, take long on H1 only ?

http://img221.imageshack.us/img221/8...12105537am.png
  • #2,224
  • Aug 17, 2012 11:16am Aug 17, 2012 11:16am
Quoting Frenchie
Hi,

in this situation on the daily, would you still look into a short signal on the H1. Or is it more adivsable to stay aside and if the candle closes with a stoch cross upwards, take long on H1 only ?

http://img221.imageshack.us/img221/8...12105537am.png
Frenchie,

Keep in mind that in a downtrend, going Long is a riskier play. You should also want the stochastics to be closer to the 80 or 20 line when the crosses occur - the trades tend to be less risky then...

JMHO
  • #2,225
  • Aug 17, 2012 11:58am Aug 17, 2012 11:58am
Quoting Frenchie
Hi,

in this situation on the daily, would you still look into a short signal on the H1. Or is it more adivsable to stay aside and if the candle closes with a stoch cross upwards, take long on H1 only ?

http://img221.imageshack.us/img221/8...12105537am.png
Looking at that chart it says one thing... Sideways. Ask yourself the question, what direction do I have a strong feeling the price will move? In this case I don't have a strong feeling one way or the other, anything could happen, it's been going sideways for a while, it's not particularly trending. Leave it alone.

I know it is tempting to look for every available trade all the time but sometimes there aren't any trades. You will make more money in the long run by leaving situations like this alone and concentrating on the obvious trades that smack you in the head and everyone else can see than by taking borderline trades in the hope they go your way.

This is not the best month to be trading. I am just running my long term trend following systems at the moment. The big daily (and therefore hourly) trends will be along soon.
  • #2,226
  • Aug 22, 2012 1:17am Aug 22, 2012 1:17am
sell eu @1.2464, sl 1.2505....
target 1.2300 area (expected in 2 weeks time)...


regards
Attached Image (click to enlarge)
Click to Enlarge Name: Eu5.png Size: 144 KB
Peace Yo!
  • #2,227
  • Aug 22, 2012 9:11am Aug 22, 2012 9:11am
Hi Hugh;
I have a question about trail ea Edward Munroe.
What does mean OFFSET and other parameters?
could you explain this EA ?How can I use very well?
  • #2,228
  • Aug 22, 2012 11:59am Aug 22, 2012 11:59am
Quoting ardasu
Hi Hugh;
I have a question about trail ea Edward Munroe.
What does mean OFFSET and other parameters?
could you explain this EA ?How can I use very well?
Hello. I believe that when people talk about offset with moving averages it means that the ma is printed a bar or two left or right of where it normally would be. I have never seen an advantage to this and so have never used it and always leave that as 0.

The other settings are relatively straightforward. From the top...

Use trailing stop - true or false
Use close ma - true or false (this means that the ea will close a trade if the price closes the other side of the ma than which the trade was opened so in a downtrend if you sold below the 100 sma and then price was to close above the 100 sma then it would close the trade on the close of the candle)
Use close ha - will close the trade at the close of the candle if the heiken ashi bar has changed colour.
MA - what period ma you want to use
Method and apply to - the comments give you this one, sma or ema, close or open, etc
TF - timeframe you want to run the ea on, it saves trouble when you switch timeframes to view from a different angle.
Buffer - how many pips you want to trail the stop behind the ma.

I find the best way to use this ea is to set it to trail the stop loss(es) behind a moving average by a set number of pips, leaving that set number quite wide but also setting it to close the trade if that ma is breached (ie the price closes the wrong side of it). That way you will not be taken out by spikes the wrong side of it but only if the price closes the wrong side of it.

For this system we are using the 100 sma but in theory you could use any ma and any entry method. How about 60 minutemans inside bar system but trail the stop behind the 50? Or maybe look at a 10 ema on a daily chart and trail behind that? Lots of options.

Trailing behind a moving average is not the holy grail of trend following trailing stops but it's pretty effective in most situations.

I hope this answers your question?

By the way, the first three options with the true or false are exclusive of each other so if you set them all to true then the trade will be closed when either one of the criteria is met or if you set only one then it will only close when that particular criteria is met.
  • #2,229
  • Aug 22, 2012 12:24pm Aug 22, 2012 12:24pm
Quoting Hugh Briss
Hello. I believe that when people talk about offset with moving averages it means that the ma is printed a bar or two left or right of where it normally would be. I have never seen an advantage to this and so have never used it and always leave that as 0.

The other settings are relatively straightforward. From the top...

Use trailing stop - true or false
Use close ma - true or false (this means that the ea will close a trade if the price closes the other side of the ma than which the trade was opened so in a downtrend if you sold below...
I thank you very much Mr.Briss .The answers are just I wanted .
I have another question.I trade manuel and with EA.for example on eurusd.When I have 2 trade at the same time.
Can I use this trailing Ea for manuel trade. I tried one times.Trailing EA closed my EA's position.
What can I do for this operation?
Best regards.
  • #2,230
  • Aug 22, 2012 4:29pm Aug 22, 2012 4:29pm
Interesting system...looks like a valid short for loonie:

1) SMA shows a nice downtrend,
2) stoc shows a pullback,
3) Heiken-ashi changed color.

Both Sl/TP is set for 50pips.
Attached Image (click to enlarge)
Click to Enlarge Name: usdcad4h.JPG Size: 87 KB
  • #2,231
  • Aug 22, 2012 5:33pm Aug 22, 2012 5:33pm
Quoting fchaman
Interesting system...looks like a valid short for loonie:

1) SMA shows a nice downtrend,
2) stoc shows a pullback,
3) Heiken-ashi changed color.

Both Sl/TP is set for 50pips.
Yes, it does look like a valid short. But shouldn't the last red candle close to have a valid setup? Because at the time you made this post it was still forming.
  • #2,232
  • Aug 22, 2012 6:28pm Aug 22, 2012 6:28pm
Quoting juliuy
Yes, it does look like a valid short. But shouldn't the last red candle close to have a valid setup? Because at the time you made this post it was still forming.
Yes true...it had 79min left to close...I got a bit impatient and jumped in early!
  • #2,233
  • Aug 22, 2012 10:25pm Aug 22, 2012 10:25pm
Quoting ardasu
I thank you very much Mr.Briss .The answers are just I wanted .
I have another question.I trade manuel and with EA.for example on eurusd.When I have 2 trade at the same time.
Can I use this trailing Ea for manuel trade. I tried one times.Trailing EA closed my EA's position.
What can I do for this operation?
Best regards.
The ea will trade as many positions as you have open but you do have to be a little bit careful when opening trades. If the price has only just crossed below the ma for example and you sell it it can sometimes close the positions straight away. You need to wait until there is at least one close below the ma before you apply it.
  • #2,234
  • Aug 22, 2012 10:28pm Aug 22, 2012 10:28pm
Quoting fchaman
Interesting system...looks like a valid short for loonie:

1) SMA shows a nice downtrend,
2) stoc shows a pullback,
3) Heiken-ashi changed color.

Both Sl/TP is set for 50pips.
I agree it looks like a nice trade. One thing I would say is that you entered almost exactly at a strong s/r level. Maybe if you had waited for the candle to close it would have been a little bit below it and that would have looked an even better trade. I believe it will still work out. I wouldn't take profit at 50 pips necessarily. Get it to break even after 30 or so pips and then trail your stop behind the 100 sma, see how far it runs.

(just taken a look and you entered just above 0.99, a strong level. Looks like the trade is going your way though so hold on!)
  • #2,235
  • Aug 23, 2012 7:26pm Aug 23, 2012 7:26pm
Yes HB...I could have exited with 30pips, then breakeven the rest...but I had set my initial sl/tp to 50pips, so I exited the whole trade at breakeven...it seems that this pair is setting up soon for another short, specially prices just hit the douple top on the weekly pivots at 0.9943
Attached Image (click to enlarge)
Click to Enlarge Name: usdcad1.JPG Size: 104 KB
  • #2,236
  • Aug 23, 2012 7:33pm Aug 23, 2012 7:33pm
Meanwhile took this short...high probablity short trade for prices to bounce back from the weekly pivot @0.8096 to the monthly pivot @0.8030
Attached Image (click to enlarge)
Click to Enlarge Name: NZDCAD.JPG Size: 106 KB
  • #2,237
  • Aug 24, 2012 7:24am Aug 24, 2012 7:24am
Well, that was an easy 50pips on this pair....Many thanks HB for this great system.
  • #2,238
  • Aug 24, 2012 1:45pm Aug 24, 2012 1:45pm
Quoting fchaman
Well, that was an easy 50pips on this pair....Many thanks HB for this great system.
Nice trade. I always like to let these run these days though, who knows how much more was in that trade?
  • #2,239
  • Aug 24, 2012 11:35pm Aug 24, 2012 11:35pm
Yes indeed HB...I will watch this pair. The last 4hr bar closed with not-so-sure bearish bar!

If stoc goes above 80...it's a good time look for a short.
Attached Image (click to enlarge)
Click to Enlarge Name: nzdcad2.JPG Size: 98 KB
  • #2,240
  • Aug 25, 2012 1:30am Aug 25, 2012 1:30am
1st post, this looks good just trader talk. Heiken ashi looks a good tool to have. I was brought onto it last week and have been doing a lot of research.I will post my trades and hopefully we'll all learn and prosper. One thing,, has anyone got any info on a PRICE ACTION CHANEL which can be added to chart, i have seen examples of them and they seem excellent. take care
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
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