Method of using Stochastic Oscillator Profitably | Forex Factory

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Method of using Stochastic Oscillator Profitably

  • #1
  • First Post: Edited Mar 11, 2017 1:15pm Mar 9, 2017 1:54am | Edited Mar 11, 2017 1:15pm
I said in my previous thread," Simple and profitable Trading Style" that I will separate stochastic trade setups from the thread. I will be here as much as in the other thread sharing stochastic related setups.
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  • #2
  • Mar 9, 2017 2:00am Mar 9, 2017 2:00am
There have been misconceptions on method of using stochastic oscillator. Don't get me wrong. If you're profitable with it good luck friends.
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  • #3
  • Mar 9, 2017 2:06am Mar 9, 2017 2:06am
Stochastic oscillator is powerful indicator to follow trending market. It's also a great indicator to get into new position when we're not already in- continuation trade setup. We cannot use stochastic to fight trending market.
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  • #4
  • Edited 2:25am Mar 9, 2017 2:15am | Edited 2:25am
How do we use it profitably? When price is moving between 20 and 80 we just have to stay away. This is because no one can determine the direction of the movement. For bullish trade, when price gets to overbought region, above 80, if a visible resistance is broken while stochastic is still on overbought then we have a great bullish trade. Then for bearish trade when stochastic gets to oversold region and any visible support is broken while stochastic is still on oversold region, then we have a great bearish trade setup. I have already shared some stochastic-based setups on my previous thread.
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  • #5
  • Mar 9, 2017 2:24am Mar 9, 2017 2:24am
It doesn't need too much explanation. I will be sharing all here
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  • #6
  • Mar 9, 2017 2:29am Mar 9, 2017 2:29am
The misconceptions were that we should take position when the main and the signal converge/diverge, above 80 or below 20. If you have been focusing on this practice you would observe that stochastic sucks accounts
Make all mistakes in demo and rain in pips in live account
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  • #7
  • Mar 9, 2017 2:33am Mar 9, 2017 2:33am
Those who are following my previous thread, EURNZD long was the last I shared. I missed the first entry point with the strategy i share on that thread. I got in with stochastic
Make all mistakes in demo and rain in pips in live account
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  • #8
  • Mar 9, 2017 2:38am Mar 9, 2017 2:38am
I wish to bring them here again some of the pairs worth waiting for with stochastic: AUDCAD, weekly; USDCAD, daily; GBPUSD, daily; NZDUSD, daily; NZDCHF, daily, EURCAD, daily. I have posted some on the previous thread
Make all mistakes in demo and rain in pips in live account
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  • #9
  • Mar 10, 2017 12:45am Mar 10, 2017 12:45am
EURCAD long breakout is slow and deceptive for me. No clear breakout
Make all mistakes in demo and rain in pips in live account
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  • #10
  • Mar 10, 2017 12:47am Mar 10, 2017 12:47am
No matter how watchful we are some trade setups would slowly escape us by not forming strong signal
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: -67.6%
  • #11
  • Mar 10, 2017 12:55am Mar 10, 2017 12:55am
Quoting 9jatrader
It doesn't need too much explanation. I will be sharing all here
It doesn't need much for sure but we will require the settings that you use mainly, I expect Default of MT4 or did I see 8,3,3, in the other thread?

Also, a few charts to keep interest going, but I have to ask, are you color blind?

Just curious why those horrible green background charts, very unusual to see, especially for sharing and demonstrating.

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  • #12
  • Mar 10, 2017 2:41am Mar 10, 2017 2:41am
Quoting Erebus
{quote} It doesn't need much for sure but we will require the settings that you use mainly, I expect Default of MT4 or did I see 8,3,3, in the other thread? Also, a few charts to keep interest going, but I have to ask, are you color blind? Just curious why those horrible green background charts, very unusual to see, especially for sharing and demonstrating. Trade Responsibly
It's MT4 default, it's 8,3,3. I never changed anything on bollinger bands. Am not colour blind. I was just testing the colours that could fit Fibonacci. Fibonacci is too dull on white background.
Make all mistakes in demo and rain in pips in live account
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  • #13
  • Mar 10, 2017 10:00am Mar 10, 2017 10:00am
On what time frame do you use stochastics?
  • #14
  • Mar 10, 2017 10:58am Mar 10, 2017 10:58am
Quoting rolfw
On what time frame do you use stochastics?
It can be used on all time frames. But I trade the daily, weekly and the monthly timeframes
Make all mistakes in demo and rain in pips in live account
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  • #15
  • Mar 10, 2017 11:05am Mar 10, 2017 11:05am
Quoting Erebus
{quote} but I have to ask, are you color blind? Just curious why those horrible green background charts, very unusual to see, especially for sharing and demonstrating.
I think everyone following the thread will turn color blind by the end of it
  • #16
  • Mar 10, 2017 11:32am Mar 10, 2017 11:32am
Quoting jw1981
{quote} I think everyone following the thread will turn color blind by the end of it
I have changed it to default mt4. About four FF friends have been so curious about the colour. Take the new chart on my EURUSD long position
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd-d1nn.png Size: 40 KB
Make all mistakes in demo and rain in pips in live account
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  • #17
  • Mar 10, 2017 11:41am Mar 10, 2017 11:41am
The colour also good for Fibonacci and stochastic. Enjoy following me
Attached Image (click to enlarge)
Click to Enlarge Name: eurgbp-d1bb.png Size: 40 KB
Make all mistakes in demo and rain in pips in live account
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  • #18
  • Mar 10, 2017 11:43am Mar 10, 2017 11:43am
sub
what we want:1+1+1+1+1+1+1+1=8 what market delivers:1+2+8+7-4+0-5+8-4-5=8
  • #19
  • Mar 10, 2017 11:47am Mar 10, 2017 11:47am
EURCAD I have been waiting for is cunningly taking shape; It seems prepared to ambush me
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  • #20
  • Mar 10, 2017 12:55pm Mar 10, 2017 12:55pm
Just curious why all the daily trades always respond to weekly psychological support/resistance and make U-turn. I wish to always get out with weekly support/resistance. Am still checking
Make all mistakes in demo and rain in pips in live account
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