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Swing trading with heiken ashi and stochs

  • #2,641
  • Jun 17, 2013 10:43am Jun 17, 2013 10:43am
Gbpchf gone and looks like invalidating unless it turns round quickly so that leaves eurgbp short looking interesting. I'll wait for a clear signal.

Cadchf still running but starting to pull back a bit too now.

Oil has made a small push away from the 97.50 level but I need more of a push followed by a pullback if I'm going to get in.

I'll update as anything happens.
  • #2,642
  • Jun 18, 2013 4:23am Jun 18, 2013 4:23am
I noticed gbpchf turning round so I put a pending order on last night which was hit overnight. The stop just got touched before it started going down. Oh well. I entered again anyway, I think it's a good trade. 75 pips up at the moment, let's see if it's the start of something big or just another leg in the range.
  • #2,643
  • Jun 18, 2013 2:10pm Jun 18, 2013 2:10pm
HB,

I notice in trending moves, that price rarely pierces the bottom of the HA bars. What do you think of trailing stops behind the HA bars?

Traderbry
  • #2,644
  • Jun 18, 2013 2:31pm Jun 18, 2013 2:31pm
Quoting Traderbry
HB, I notice in trending moves, that price rarely pierces the bottom of the HA bars. What do you think of trailing stops behind the HA bars? Traderbry
Not a bad idea if you are "scalping" a move but obviously if you want to hold on for the main trend then the 100 sma is the way to go.

Try an 8 ema of the high and an 8 ema of the low, that hugs the tops and bottoms of the HA candles quite well. Also a 5 LWMA is good if you look at the change of direction, generally it changes direction when the HA changes.

I can code you an ea to trail behind these ma's if you would find it useful?
  • #2,645
  • Jun 18, 2013 3:04pm Jun 18, 2013 3:04pm
Quoting Hugh Briss
{quote} Not a bad idea if you are "scalping" a move but obviously if you want to hold on for the main trend then the 100 sma is the way to go. Try an 8 ema of the high and an 8 ema of the low, that hugs the tops and bottoms of the HA candles quite well. Also a 5 LWMA is good if you look at the change of direction, generally it changes direction when the HA changes. I can code you an ea to trail behind these ma's if you would find it useful?

Thanks for the quick reply, HB; I will consider your advice. And thanks for the ea offer, I may take you up on it very soon...

bry
  • #2,646
  • Jun 20, 2013 7:41am Jun 20, 2013 7:41am
Gbpchf came close to being stopped out this morning but held on and 60 pips up again now.

Cadchf still running fine, more profit being locked in as we go.

Oil has plummeted below the 97.50 level and a trendline, it's not doing what I want so it's off the list.
  • #2,647
  • Jun 23, 2013 4:09pm Jun 23, 2013 4:09pm
Gbpchf still running. Still watching cadchf as well for the demo account. This week I'm also watching eurusd and gbpusd. I'm looking for a further push down followed by a nice smooth pullback, preferably nice and close to the 100 sma, then I'll be in.

I'm still finalising my training/copying offer and I will let you know as soon as I am ready.
  • #2,648
  • Jun 25, 2013 8:13am Jun 25, 2013 8:13am
Gbpchf out at break even, just sold eurusd.
  • #2,649
  • Jun 25, 2013 9:23am Jun 25, 2013 9:23am
What time did your candle close Hugh?

I am also watching the eurusd but with my broker, I still have 1h40 to go before shorting the pair. Did you take the trade before the candle closed?

I took a big hit on gbpchf but after a better look at the chart, the entry I took was super late in the swing and I know that I would not take such a trade again in the future so it is a good thing in the end. Lesson learned.

cheers
  • #2,650
  • Jun 25, 2013 11:14am Jun 25, 2013 11:14am
Quoting veyron
What time did your candle close Hugh? I am also watching the eurusd but with my broker, I still have 1h40 to go before shorting the pair. Did you take the trade before the candle closed? I took a big hit on gbpchf but after a better look at the chart, the entry I took was super late in the swing and I know that I would not take such a trade again in the future so it is a good thing in the end. Lesson learned. cheers
I took the trade about 10 mins before my candle closed at 13.00 GMT.

Gbpchf has been chopping about quite a bit recently. I think it's time to leave it alone. I lost one (or was it two?) trades on it and just broke even on another so it obviously doesn't want to play ball. I only held the trade for about 10 days as well! lol

I hope you are still in your cadchf trade? That seems to be doing ok.
  • #2,651
  • Jun 25, 2013 11:45am Jun 25, 2013 11:45am
Yep, still in that one. will see where it goes
  • #2,652
  • Jun 25, 2013 11:52am Jun 25, 2013 11:52am
Quoting veyron
Yep, still in that one. will see where it goes
Well done! I'm very impressed. Patience is the key and you've got it.
  • #2,653
  • Jun 26, 2013 1:06am Jun 26, 2013 1:06am
Hehe that's the point. I'm currently demoing the system seriously. started not long ago and just took my first real early trade in a potential swing.
I'll be demoing for couple more months before going live. I find this system pretty easy to follow and it gives me time on the side to improve my poor knowledge on the forex market.

Just one question:

let say you went short on one pair, you are quite deep in profit but your stop loss above the 100 sma is quite far from the current price. If the price reaches an historic lowest point that seems to act like a support. would you consider breaking the rules and manually move your stop loss to secure more pips as the price never went below that point in the past?
  • #2,654
  • Jun 26, 2013 4:32am Jun 26, 2013 4:32am
Quoting veyron
Hehe that's the point. I'm currently demoing the system seriously. started not long ago and just took my first real early trade in a potential swing. I'll be demoing for couple more months before going live. I find this system pretty easy to follow and it gives me time on the side to improve my poor knowledge on the forex market. Just one question: let say you went short on one pair, you are quite deep in profit but your stop loss above the 100 sma is quite far from the current price. If the price reaches an historic lowest point that seems to act...
A pair can always go lower. Look at usdchf a few years ago, people were calling the bottom on a daily basis and it still pushed lower. Always let it run is my answer, you will make more money in the long run even though at times it seems you are giving a lot of profits back on individual trades.
  • #2,655
  • Jun 26, 2013 5:41am Jun 26, 2013 5:41am
Alright. That was just something that I thought about. i'll continue trading the system like it is supposed to be traded anyway


btw: may I ask how many pips was your initial stop loss on the eurusd short?
  • #2,656
  • Jun 26, 2013 6:28am Jun 26, 2013 6:28am
Quoting veyron
Alright. That was just something that I thought about. i'll continue trading the system like it is supposed to be traded anyway btw: may I ask how many pips was your initial stop loss on the eurusd short?
2 x ATR which I think is about 78 pips.
  • #2,657
  • Jun 26, 2013 8:28am Jun 26, 2013 8:28am
Hugh,

looking at the eurusd, I see that the Weekly doesn't give a Short signal, but you entered off the 4H. Did you see something specifically that told you to ignore the Weekly?

thanks,

traderbry
  • #2,658
  • Jun 26, 2013 2:29pm Jun 26, 2013 2:29pm
Quoting Traderbry
Hugh, looking at the eurusd, I see that the Weekly doesn't give a Short signal, but you entered off the 4H. Did you see something specifically that told you to ignore the Weekly? thanks, traderbry
I'm not 100% what you mean, the weekly is looking pretty bearish to me. I'm guessing you mean that the current candle hasn't closed yet? Well, this weekly candle opened red and the price was below the 100 sma on the 4 hour chart so that interested me enough.
  • #2,659
  • Jun 27, 2013 4:38am Jun 27, 2013 4:38am
Cadchf out at +100pips. gbpusd still moving the right way.

The early position I took on eurusd is also moving in my direction so far. not sure it was the right decision to get in that early but I am experimenting something with HA candles + line chart. (HA candle body size + its position compared to the line chart.)
  • #2,660
  • Jun 27, 2013 8:23am Jun 27, 2013 8:23am
Quoting veyron
Cadchf out at +100pips. gbpusd still moving the right way. The early position I took on eurusd is also moving in my direction so far. not sure it was the right decision to get in that early but I am experimenting something with HA candles + line chart. (HA candle body size + its position compared to the line chart.)
Nice one on cadchf, a handy 100 pips. Nothing wrong with adapting systems to suit you.
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