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Swing trading with heiken ashi and stochs

  • #2,501
  • May 7, 2013 5:21am May 7, 2013 5:21am
Eurgbp out for a small loss.
  • #2,502
  • May 7, 2013 6:01am May 7, 2013 6:01am
Eurusd closed above the 100 sma on the hourly so out of that one for a loss. Just got gbpjpy running now, 12 pips up.
  • #2,503
  • May 7, 2013 9:14am May 7, 2013 9:14am
Trade explorer added. This is still only demo as I have my mind on my other trading but it should give you an idea of the system. I will be using weekly and 4 hour charts for my trading and I'll update the thread as anything happens. I will try and post potential trades before they happen.
  • #2,504
  • May 7, 2013 9:32am May 7, 2013 9:32am
I'm currently watching eurcad, gbpcad, audcad and audusd. All need to pullback before anything will happen so may be a few days.
  • #2,505
  • May 7, 2013 10:59pm May 7, 2013 10:59pm
I 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 to work better in a ranging market??
  • #2,506
  • May 8, 2013 2:20am May 8, 2013 2:20am
Quoting SeanyTsunami
I 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...
I agree completely. I think most indicators only work well in trending markets. I find CCI and stochastics the best but I prefer stochastics because not only does it tell me that the momentum has changed but it also gives information about the strength of the pullback but also, more importantly, the smoothness of the pullback. In a very smoothly trending market the heiken ashi candles and stochastics will move very smoothly. Here are two charts. The first is eurcad and the second is audcad. Which one would have been the easiest to trade recently?
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eurcadh4.png Size: 62 KB
Click to Enlarge Name: audcadh4.png Size: 58 KB
  • #2,507
  • May 8, 2013 7:11am May 8, 2013 7:11am
I 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.
  • #2,508
  • May 8, 2013 7:30am May 8, 2013 7:30am
Quoting SeanyTsunami
I 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.
Here's an indicator for it. For some reason when it's set to hourly charts it puts the lines on 4 hour charts as well. Does the job though.
Attached File(s)
File Type: mq4 RN levels hourly chart only.mq4   1 KB | 514 downloads
  • #2,509
  • May 8, 2013 10:52am May 8, 2013 10:52am
Have 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.

Thanks for the indicator.
  • #2,510
  • May 8, 2013 12:30pm May 8, 2013 12:30pm
Quoting SeanyTsunami
Have 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....
No worries.

I find jpy and cad pairs can be a little bit choppy. The best bet is to zoom your chart out and have a look at how each pair tends to trend. Eur pairs tend to trend more smoothly than anything else. Gbp pairs can be choppy. Nzd pairs too. At the end of the day any pair will trade smoothly at times, if the trend is strong enough it tends to smooth things out.

Are you using the weekly/4hour approach? If you wait for a smooth turn on the weekly then you have a reasonable chance of the 4 hour trending in that direction. This will cut down the number of pairs you are watching at any one time drastically but it will increase your probability quite a bit.
  • #2,511
  • May 8, 2013 11:53pm May 8, 2013 11:53pm
Quoting Hugh Briss
{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...
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.
  • #2,512
  • May 9, 2013 6:17am May 9, 2013 6:17am
Quoting chye
{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.
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.
  • #2,513
  • May 9, 2013 7:50am May 9, 2013 7:50am
Quoting Hugh Briss
{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.
Thanks for your reply,Briss.I think i need more practice.
I love trading 4h,because it cost me less time,and the trend is more better.
Here is AUSUSD i am looking.
Attached Image (click to enlarge)
Click to Enlarge Name: AUD W.png Size: 28 KB

Attached Image (click to enlarge)
Click to Enlarge Name: AUD H4.png Size: 28 KB
  • #2,514
  • May 9, 2013 10:36am May 9, 2013 10:36am
Yes, audusd looks good. My candle closes at 6pm gmt (+1 for summer) and if it is still trading below 1.02 then I will probably be getting in.
  • #2,515
  • May 9, 2013 1:07pm May 9, 2013 1:07pm
Just caught a bit of a push there, was 50 pips up after the first hour of being in the trade, always nice. Let's see if it continues.
  • #2,516
  • May 9, 2013 1:30pm May 9, 2013 1:30pm
So eurcad and audusd are both break even now. Just got to let them run and see where they get.
  • #2,517
  • May 9, 2013 4:36pm May 9, 2013 4:36pm
Here's a small update to the system. Nothing much has changed but I thought I'd clarify my current approach and there is some other info in there too.
Attached File(s)
File Type: pdf stwhaas update 9 5 13.pdf   99 KB | 10,792 downloads
  • #2,518
  • May 10, 2013 2:05am May 10, 2013 2:05am
I just sold EURUSD on H1 signal.

http://img96.imageshack.us/img96/594...01390228am.png
  • #2,519
  • May 10, 2013 8:55am May 10, 2013 8:55am
Quoting Hugh Briss
Here's a small update to the system. Nothing much has changed but I thought I'd clarify my current approach and there is some other info in there too. {image}
Thank you Briss for your new pdf file,i have learnt more about this system.
Wish you can post more charts.
Green pips!
  • #2,520
  • May 10, 2013 1:00pm May 10, 2013 1:00pm
Quoting Frenchie
I just sold EURUSD on H1 signal.
Looks like it went your way, nice one.
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