im reading Babypips [I]School of Pipsology[/I]. I got to the 11th grade and saw the following from “Setup Your System in Six Steps”

[B]Trading Setup

* Trade on daily chart (swing trading)
* 5 EMA applied to the close
* 10 EMA applied to the close
* Stochastic (10,3,3)
* RSI (14)


I have 2 questions:

  1. How do I adjust for Intraday trading?
  2. Are they using a FAST, SLOW or FULL stochastic?
    Thanks, Lj

See “The cowabunga system” in Free Forex Trading Systems: Review & Share Currency Trading Strategies

You don’t need SQUIGGLY LINES to trade.

They all LAG.


For inter-day trading I use stochastic somewhere in the range of 10,3,3 or 8,3,3. But yes check out the Cowabunga system linked above, I’d start with that system and adapt it however you see fit once you’ve been trading a while.

I don’t know if slow/fast stochastics have certain points or not… I think it’s a fairly subjective term. Compared to the stock market, the stochastic you’d be using for forex would be much faster (unless you’re day-trading stocks as well.) But I don’t know what I’m talking about :stuck_out_tongue:

If you want to adjust for intraday trade. You use time frame to 5 min , 15, 1 hr & 4 hr chart. The higher time frame for determine the overall trade (You can entry &exit at 5 min chart). You can 't look at daily chart anymore for intradaytrade, You can apply the ema for intraday as the above setting or use default indicator setting on your platform. Use slow stochastic.

Indicators can be used profitably without knowing their underlying computation or what exactly they’re measuring, but it’s always better to know what it is you’re using if it features prominently in your trading decisions.

Stochastic Oscillator (Fast, Slow, and Full) -

Slow/Fast/Full isn’t a subjective distinction, and the time horizon for your trades or the market in which you trade have nothing to do with what version you use. Skip the table at the top of this link and scroll down to “Slow versus Fast versus Full” for a brief description of the difference. “10, 3, 3” can describe a full or slow stochastic: these particular settings are full stochastic that replicate a “10, 3” slow stochastic. In other words, either version can be used.

Slow stochastic (or the full stochastic on the equivalent settings) is typically preferable over fast stochastic because slow smoothes the underlying data, removing the jagged chop the fast settings generate.

Good luck with your trading!

You don’t have to have multiple charts to see multiple time frames.



My idea for new bies , they not very familiar about the metetrader platform automatic system works unless they already read& understand about all the subject they have learn from the baby pips School or from other related website teach about Forex Education. I,m adv to those beginner , not to practice with automatic system chart to create order .
They must familiar how to use of the chart , how to use multi frame to gain deeper knowledge . How to determine the trend and tyhe move. Once you all familiar to use of the chart for different type of trade ,scalping, intraday or swing trade. Once you know to combine chart effectively , then you can use the automatic platform system.