Just after the two lines have crossed lion.
You also need to revise the levels on the fibs and draw it from the top to the bottom, so that the 100 level is at the top. Then plot the 127.2 level, 161.8, 2, 2.618, 3, 3.618 and so on.
after the first great trades, right now iām holding 3 losing tradesā¦but the signals still seem to be alright, so i just stay in and see what happensā¦
the trades are CAD/JPY, NZD/JPY and AUD/JPYā¦all shortsā¦
hmm - by my charts the AUDJPY is in an Long (Upward) Bias - thatās on the 4 hour chart - maybe youāre trading a different timeframe.
yes, sorryā¦the trades are all on daily chartā¦
Iām also inā¦
When they crossover 
There is only one arrow there when the stochastic crossed over its MA, that is the arrow at the top.
Hey Mike, well Iām sure you have read all of my posts here. If you go back to why I said 4 hr was my favorite time frame, I said that using the daily TF could keep you in a trade for years.
Normally when you trade the daily you have to be ready to hold these trades for at least a month. You also have to trade them with extremely small position sizes because youāre stops would all the way above the highest point in each of the three pictures you said.
Personally, Iām long AUDJPY and NZDJPY. but Iām short CADJPY like yourself.
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hi philip,
yes, i read all your posts and i remember very well, that you said thatā¦the setups just looked too good to be ignored when they occured 
the positions are small, 0.01 eachā¦letās just see how they play outā¦
normally i prefer the 4h TF or lower, as i generally donāt like to have my trades open for a long timeā¦
how is your experience with your system at 15min and 1h TF?
[QUOTE=āBobkat;685114ā] I think that is a very good idea. Iām gameā¦[/QUOTE]
Iām down as well
Ok there is a big problem with trading 1 hr and 15 minute trades, that are related to money management and not the pattern.
Basically I like to open a large number of trades at once. 12-15 trades across the forex pairs. With the 15 minute and 1hour this is impossible. I canāt go looking across 60 or 70 pairs every 15 minute and trade every opportunity I see. And since I canāt do that, I might get stuck in drawdown more than with the 4 HR trading.
You need to know that the success rate also goes down from 70% on the longer-time frame to 40-50% on the lower time frames. Itās still a winner since the reward to risk is phenomenal.
What you need to know though is that you will have to commit to only one or two pairs. Letās say GBPUSD and USDCAD. You commit to trading only those two on the 1hr and 15 minute charts because you will get much more signals.
you are rightā¦on lower TFs you will be limited to fewer pairsā¦i also saw that there are much more false signalsā¦
4h TF is ok, maybe i will try 2h or 3h TF, might be still acceptable for money managementā¦
i also like to have a lot of trades open, trying to diversify risk a little bitā¦
i was thinking about trailing an entry order (hedge) instead of the SLā¦if itās hit your profit of the first trade is still locked in, you can close this tradeā¦but you still have the hedge to work with for the reversal/retracement (maybe take some extra pips)ā¦what do you think, philip?
Hi there and thanks for this post.
How do I draw a fibonacci extension in MT4 ?
I can only see options for Retracement or an Expansion .
thanks
Thanks for sharing your point of view :13: I actually doubted about entering here becase of the crossover, the trend went in a really straight way till it arrived to 2.00, I guess I should look for stronger trends that fits the system.
HaHa! It appears you get the last laugh! Your trade is up over 100 pips so far. Good for you, Jalapenofan.
@Jalapeno Iām not a fan of entering on the second on third stochastic crossover, but I have to admit they all work out great. That is until the one crossover that will proceed the eventual EMA crossover.
@namekuji if you still donāt know how to draw the fib extension I suggest you start trading on the demo first before risking money. To answer your question though, draw a normal fib retracement. double click on it and choose Fibo properties. There is a āFibo levelsā tab. click add, start inserting the extension levels. There you go!
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