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Method of using Stochastic Oscillator Profitably

  • #281
  • May 5, 2017 12:27pm May 5, 2017 12:27pm
I hope to share the method of maximizing you target even if you have already set your target, using the twin strategy and other strategy, possibly with charts. Am using it in my EURUSD long
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  • #282
  • May 5, 2017 12:43pm May 5, 2017 12:43pm
Interesting now that stochastic produces more trades than the other strategy, possibly because of breakout every now and then
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  • #283
  • May 5, 2017 12:58pm May 5, 2017 12:58pm
Quoting 9jatrader
Interesting now that stochastic produces more trades than the other strategy, possibly because of breakout every now and then
Yes, agree. More breakout than we expected
Risk comes from not knowing what you're doing.
  • #284
  • May 5, 2017 1:04pm May 5, 2017 1:04pm
Quoting dragonexpert
{quote} Yes, agree. More breakout than we expected
Any breakout not supported by stochastic could be fakeout
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  • #285
  • May 5, 2017 1:14pm May 5, 2017 1:14pm
A point of note here. I could be bullish and bearish in one currency. Example am bullish in EURUSD, bearish EURGBP, bearish in USDCAD, bearish AUDUSD. I don't buy and sell one currency in one platform. I have more than twelve platforms for my backtest. And so, am not bullish in EURUSD and EURGBP in one platform.
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  • #286
  • May 5, 2017 1:42pm May 5, 2017 1:42pm
For those who already known how to follow/join trending or price movement with stochastic. Assuming you have been in a long position and set your target around/on resistance. Would you still leave the target when stochastic is already on/around that resistance? You can monitor the breakout with stochastic and move you TP further. It's all about maximizing profits
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  • #287
  • May 5, 2017 1:50pm May 5, 2017 1:50pm
When trading any breakout don't be too picky with SL. Some traders have a set of pips they have as SL. That's is not proper. For example don't set your SL right on the resistance when you trade resistance breakout. It should be below the broken resistance. This because sometime retesting the broken resistance can be very strong and made you feel it's not going to work. If you're too picky and have too tight SL, it could be triggered and then go to your again. You can see it in NZDUSD long I shared before now. Later I will bring the chart. Every position offers platform for learning.
Make all mistakes in demo and rain in pips in live account
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  • #288
  • May 5, 2017 11:33pm May 5, 2017 11:33pm
Quoting Ezzy
Hi 9jatrader Price rejection at overbought, and resistance level. {image}

Progress on my current trades

Attached Image (click to enlarge)
Click to Enlarge Name: AUDCADDaily.png Size: 35 KB
What you do is a reflection of you....what I do is a reflection of me.
  • #289
  • May 5, 2017 11:36pm May 5, 2017 11:36pm
Quoting Ezzy
This one broke resistance and looks to be a continuation trade. {image} Ezzy

Progress update on this trade

Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYDaily.png Size: 34 KB
What you do is a reflection of you....what I do is a reflection of me.
  • #290
  • May 5, 2017 11:38pm May 5, 2017 11:38pm
Quoting Ezzy
And last one, another continuation trade. Lets see how all three progress. Any constructive feedback is always appreciated. {image} Ezzy
Update on the GBPJPY trade

Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYDaily.png Size: 35 KB
What you do is a reflection of you....what I do is a reflection of me.
  • #291
  • Edited 12:41am May 6, 2017 12:26am | Edited 12:41am
Hi Ezzi,
You're really doing great. I joined the bulls on EURJPY before market closed yesterday. The setup still strong- having long lower shadow with bullish body. Already in profit
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  • #292
  • May 6, 2017 12:41am May 6, 2017 12:41am
I mean long lower shadow. I already edited it
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  • #293
  • May 6, 2017 12:44am May 6, 2017 12:44am
Quoting 9jatrader
Hi Ezzi, You're really doing great. I joined the bulls on EURJPY before market closed yesterday. The setup still strong- having long upper shadow with bullish body. Already in profit
Thanks 9jatrader

That one looks like a good trade, it also looks like it has reached a level of resistance, it may slow that pair down or turn back.

Hopefully it will pus through that level whilst still overbought.

Ezzy
What you do is a reflection of you....what I do is a reflection of me.
  • #294
  • May 6, 2017 12:51am May 6, 2017 12:51am
Quoting Ezzy
{quote} Thanks 9jatrader That one looks like a good trade, it also looks like it has reached a level of resistance, it may slow that pair down or turn back. Hopefully it will pus through that level whilst still overbought. Ezzy
It has broken a five-month high, around the zone where bollinger bands squeeze was formed
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  • #295
  • May 6, 2017 12:55am May 6, 2017 12:55am
There is possibility of a strong retesting of the broken resistance, now a support. That's the reason we need not set SL on broken resistance/support. But the bulls are too strong
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  • #296
  • Edited 2:33pm May 6, 2017 7:17am | Edited 2:33pm
Special note: EURUSD has been rejecting upper band since 20th October, 2013 until the last weekly candle. EU Bulls, celebrate

We might see 1.14 breakout, who knows
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  • #297
  • May 6, 2017 2:41pm May 6, 2017 2:41pm
What I now work on is how to widen target, using stochastic.
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  • #298
  • May 8, 2017 12:26pm May 8, 2017 12:26pm
AUDCHF strong hammer and forming good confirmation
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  • #299
  • May 8, 2017 12:31pm May 8, 2017 12:31pm
It's sometime surprising to see how market reacts and formed strong setup on/around weekly S/R
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  • #300
  • May 8, 2017 2:47pm May 8, 2017 2:47pm
This may be a great threat to EURAUD long trade holders, being that they're strongly correlated with AUDCHF
Make all mistakes in demo and rain in pips in live account
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