if you are day trading forex, should you select fast stochastics or slow stochastics
marvin
Your question will result in a subjective answer. You can use both. It all depends on your trading strategy and what you’re using stochastics for.
Stochastics can be quite useful
try this. set up a chart with slow stoch 35 10 1
and overlay fast stoch 7 3 3
you will see that the slow stoch indicates trend and the fast stoch shows entry point
Stochs of both speeds are great to experiment with
DEAR BLAISER BOY,
I LIKE YOUR STOCHASTIC AND I WILL TRY IT B/C IT IS KISS
TIMOTHY
<[email protected]>:D
here is a chart that I use when I want to scalp, in the price screen is a couple ma’s and a channel… I use the channel to show me the chop zone…, the fast stoch for entry, and the slow stoch for trend… the Macd to confirm entry… simple chart…
DEAR BLAISERBOY,
I SAW YOUR ATTACHED THUMBNAIL AND HAVE A VERY DETAILED LOOK
PLEASE LET ME ASK ABOUT THE MA:S YOU USE IT SEEMS I FELL IN LOVE WITH THEM
KINDLY OBLIGE ME PLS
TIMOTHY
<[email protected]>
Those moving averages are very helpful ema 30, ema 60 and… envelope set at 80 with a deviation of .04…
the ema’s tell what is happening on this time frame and also the next higher tf. ie the 60 is twice as much as the thirty… the envelope is a nice little thing to detect chop… do not enter the market when in the envelope or going towards it… only enter when there is a slope and enter in the direction of the ma’s and the envelope…
This is a very simple system… watch for the trend and then use the stoch and macd to be more precise…
this should allow you to grab some quick pips… and also works on higher tf’s.
The market likes to grab our money by giving good signals in the chop zone… so we have to outsmart the market a bit…lol
The long term stoch generally agrees with the 30 ema…
I hope I have clarified… if not ask more ques and I will do my best to clarify…
Dear bliserboy,
Thank you very much for your prompt response
please what is envelope 80
i think i get the ema 30 &80
timothy
<[email protected]>
Envelope is an indicator which you will find in metatrader…, have a look. if you do not find it, I will post it…