i use 50,100,150 EMA’s…if for the most part they are pointed down and i hav a overbought slow stoch and a ‘‘bull hill’’ on the macd that is on its way down. ill short the pair and take my 50pip profit(my goal)…its working great for me and i feel retarded that i didnt see this from the get-go.
but my question is…
does any1 hav anybetter settings for these indicators? my slow stoch. is at 5,5,3 and the macd is on 12,26,9
ps…i use 1hr charts
please no ‘‘go to babypips school’’ links
So, you want information, but you’re not willing to put in the time to learn?
Hmm.
Off the top of my head I’d say you’re going to find it hard to be profitable if you aren’t willing to spend a little time reading. That’s what the forums are for. People have posted to provide info, but it doesn’t do any good if you won’t read it.
how did i know some1 was going to hav a comment like that…
well yes sirrr…i would like some information. or u can call it pointers, or help? but lets go ahead and call it information…i would like iformation on how to improve my holy grail…i dont think it needs any improvement because my profits are pretty steady.
but maybe a tip or trick would make it even easier pull the trigger when i see a trade opportunity
Your strategy seems sound in as much as you are looking to define a retracement into an ongoing trend on the higher timeframe and have in mind profit targets and its working. You might find tweaking the settings on your indicators assist as some pairs behave very differently with their own volatility and characteristics but you would need to be aware of overoptimising. Increasing your settings say on your stoch to 8,3,3 or 10,3,3 etc smooths their response because of the increased data points and this may be useful. Personally I find little to be gained from subtle changes and you might put the same indicator up side by side on a chart to show this for yourself with different settings. However of most importance your general strategy makes absolute sense so carry on looking to refine it
ok…i find that the original settings on the slow stoch. is as good as itll get…thanks for the info and feedback…
Maybe u are using weekly daily and 4 hour charts also and entering with hourly charts.
action forex has a lot a good articles on it to read
There is so much to learn here.
i have been studying many many hours and days, well 4 months anyway.
thought i would be trading live by now but i dont feel ready quite yet.
Lots of practice like everything else if you want to be good at it.
ok so i posted in swing trading…so???(referring to ur subject there,buddy) and yes i might take a glance at a daily chart just to calm my trigger finger.
much to be learned?if ur referring to me and my way of trading, i think so yes there is alot for me to learn. but im doing fine. and if ur referring to the forex world…that is an hell yes
best practice there is= LIVE trading.because u can never practice blocking your emotions on a demo…
i only use demo when there is a trade im not so sure about. ill open the position on the demo and check back to see what i could have gained or could have lost and learn from that