Eurgbp out for a small loss.
Trading with Heiken Ashi and Heiken Ashi smoothed - Hybrid 362 replies
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Trading the heiken-ashi megapips system. 2 replies
DislikedI really do like this approach, my approach is similar. I like stochastics, it shows me when momentum of buyers and sellers entering the market is changing. I was watching a webinar on Traders Log and the speaker Jason Alan doesn't believe in the stochastics oscillator, he believes its only a valid tool in ranging markets. I would disagree it works well for me and I only trade trending markets. There are also other traders that I respect such as James Chen who use stochastics in all his methods of trading. I am wondering why is it that it is said...Ignored
DislikedI like how you put in the Round Number lines. Its amazing how price often reacts to those price areas. The AUD/CAD has had some big moves over that past two weeks.Ignored
DislikedHave you had a good experience with AUD/CAD in the past?? I am trying to refine the currency pairs I monitor to about 8 pairs or less. When I first started trading I was monitoring 14 currency pairs. That is just too many for a new trader starting out, in my opinion. The pairs I like for my trading, which is primarily trend following. I like the Majors including USD/CAD. I also have had a good experience with EUR/AUD, I really like this pair lately. For me JPY crosses can be tricky sometimes to trade technically and they react a lot to fundamentals....Ignored
Disliked{quote} First of all choose the timeframe that you want to take your trades on. If you have the time to watch hourly candles and take trades based on that then that is your primary trading timeframe. If you want to take trades on 4 hour charts then that is your primary trading timeframe. The timeframe you use for direction is the timeframe 2 steps up so if you trade hourly candles then you need to look at the daily. For 4 hour trading you need to watch the weekly. Don't even look at any other timeframes, it just confuses things. Wait until you get...Ignored
Disliked{quote} Hi,Briss You said,sometimes you use bigger stops,for example,100pisp,and also i find your chart of CHFJPY,you hold your trade for couples of hours. My questions are, when you use big stops,when do you close your trades?or how do you set your targets? Thx,and have a good day.Ignored
Disliked{quote} It depends on the trade and depends on the trend. You have two options when trading this way, either use smaller stops and take profit when the heiken ashi turns against the trend or you can use bigger stops, relax a bit and just let the trend do it's thing, then close it when the 100 sma is broken against the trend. I never work with targets, always use one or other trailing method.Ignored