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Method of using Stochastic Oscillator Profitably

  • #321
  • May 10, 2017 12:11pm May 10, 2017 12:11pm
Quoting Ezzy
{quote} Hi kofix Perhaps I may be able to help you. Setting up this chart is one of the easiest you will ever do. So, add the bollinger bands to the chart. The settings should be (period 20, shift 0, deviation 2). In most cases this is a standard setting. Do the same for the stochasc indicator. The settings should be (k 5, slow 3, D 3) My settings are slightly different, but I think you should start with the settings suggested by 9jatrader. And thats it! For the purposes of the strategy presented in this thread, this is all you need, nothing else....
Thanks Ezzy and 9jatrader. Nevertheless my chart and indicators looks different. Do you always calculate on "close" or perhaps "weighed close" or something else?
  • #322
  • May 10, 2017 12:21pm May 10, 2017 12:21pm
AUDNZD making another, second trade setup- stochastic on overbought region; also the weekly already closing below the middle band while the daily is closing below the lower band. The weekly middle band and daily upper/lower band strategy is based on the first strategy I have in one of my threads. I bring the strategy here because is in combination of stochastic here
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: 19.4%
  • #323
  • May 10, 2017 12:25pm May 10, 2017 12:25pm
I was able to catch the movement with better lot size, 0.04 in $500 account. Same with EURGBP short, 0.05 in $500, having two positions in the two pairs
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: 19.4%
  • #324
  • May 10, 2017 12:38pm May 10, 2017 12:38pm
There is something I have always wanted to share here. If you do not give your position enough breathing space, you may have some problem with this strategy here. The reason is that when there is a breakout there is possibility of a strong retesting of the broken S/R. Therefore during resistance breakout your stop loss should not just be on the broken resistance, now acting as support. It should be below the broken resistance
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: 19.4%
  • #325
  • May 11, 2017 2:13am May 11, 2017 2:13am
Quoting Ezzy
New trade {image}
Trade update

Missed my TP by 10 pips

Attached Image (click to enlarge)
Click to Enlarge Name: AUDCHFDaily.png Size: 30 KB
What you do is a reflection of you....what I do is a reflection of me.
  • #326
  • May 11, 2017 2:16am May 11, 2017 2:16am
Quoting Ezzy
{quote} Update Im letting this one run {image}
Trade update

This one came close to my TP.....but I decided to close it 30 pips early

Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYDaily.png Size: 25 KB
What you do is a reflection of you....what I do is a reflection of me.
  • #327
  • May 11, 2017 5:05am May 11, 2017 5:05am
Quoting Ezzy
{quote} Trade update Missed my TP by 10 pips {image}
Am still long
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: 19.4%
  • #328
  • May 11, 2017 5:06am May 11, 2017 5:06am
I mean my position still open on AUDCHF
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: 19.4%
  • #329
  • May 11, 2017 5:09am May 11, 2017 5:09am
Quoting 9jatrader
I mean my position still open on AUDCHF
Yeah, me too
What you do is a reflection of you....what I do is a reflection of me.
  • #330
  • May 11, 2017 5:28am May 11, 2017 5:28am
Quoting Ezzy
{quote} Yeah, me too
Ok. Am monitoring 0.76451, though TP is further than that level
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: 19.4%
  • #331
  • May 11, 2017 5:30am May 11, 2017 5:30am
The 0.76451 is the level the previous support from that hammer took it to
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: 19.4%
  • #332
  • May 11, 2017 5:35am May 11, 2017 5:35am
So many potential set ups!
What you do is a reflection of you....what I do is a reflection of me.
  • #333
  • May 11, 2017 5:39am May 11, 2017 5:39am
Quoting Ezzy
So many potential set ups!
Yea, stochastic has given me more trade now. The strategy on the other thread still working- EURGBP short.
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: 19.4%
  • #334
  • May 11, 2017 8:32pm May 11, 2017 8:32pm
GBPJYP is looking promising, I'll post my chart when I get home tonight.

Ezzy
What you do is a reflection of you....what I do is a reflection of me.
  • #335
  • May 12, 2017 5:39am May 12, 2017 5:39am
GBPJPY out of my radar. The resistance breakout not impressive and stochs already leaving overbought. If any strong bearish setup comes under the resistance that may be a bearish trade, and not buying JPY because of it's interest rate
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: 19.4%
  • #336
  • May 12, 2017 5:53am May 12, 2017 5:53am
Hi 9jatrader
What's your opinion on USDJPY?
  • #337
  • May 12, 2017 6:03am May 12, 2017 6:03am
Quoting kofix11
Hi 9jatrader What's your opinion on USDJPY?
Am already long USDCAD. About USDJPY, while the weekly closing above the middle band the daily has consistently been rejecting upper band- the first strategy I have here
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: 19.4%
  • #338
  • May 12, 2017 6:14am May 12, 2017 6:14am
USDJPY not making any strong setup base on any strategy. It can be choppy. No resistance breakout while stochastic remains on overbought. If it can break the last high 118.119 while stochastic is on overbought it may be great setup
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: 19.4%
  • #339
  • May 12, 2017 6:16am May 12, 2017 6:16am
Quoting 9jatrader
USDJPY not making any strong setup base on any strategy. It can be choppy. No resistance breakout while stochastic remains on overbought. If it can break the last high 118.119 while stochastic is on overbought it may be great setup
Thanks. Does it mean you also waiting for a confirmation on the weekly?
  • #340
  • May 12, 2017 6:17am May 12, 2017 6:17am
Whether setup would work or fail, we should have the reason(s) for entry.
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: 19.4%
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