Well the markets in USA are closed until Monday for the holidays . See you after and be good to your self.
Is there any performance check in relation to this method?
Hi guys,
I am interested in developing swing trading techniques⌠The system in this thread seems to favour this kind of trading⌠come someone show me a link detailing how to set it up.
Thanks.
A link would be fine.
@littlema, @bmkinyua - I strongly recommend going over the thread from the beginning. @PhilipPirrip(owner of this thread) has shared in detail the conditions that need to be met before entering the trade using this system. You will also be able to see multiple examples of trades that were entered using the system.
Best of luck!
Hey r2, did u ever get in for the EUR USD? I kind of jumped the gun and got killed.
Hey @ragzs, I havenât entered yet, because I have been burned by entering into trades pre-maturely.
Even if the Stoch might have hinted to move below 80, I still wouldnât have entered, because the RSI was above 50. PhilipPirrip has added the importance of the RSI somewhere in the middle of the thread which has been very helpful to increase the number of profitable trades substantially.
I feel that there are quite a few signals on a weekly/monthly basis using this system if you are trading multiple pairs, so I would recommend you pick and choose trades which have higher success probability based on the number of confluences.
These are just my thoughts and would still want you to explore on your own or get more info from Philip himself as I am only a few months old in the FX industry.
Best of luck!
Right now EUR/USD is showing upward momentum , trying to reach 1.1060 and beon. Now should reverse in that area i will go short for a few pips.
I dont want to change the strategy at all, but I also use a 200 ema to confirm trend.
On a buy signal if the 20 ema and 50 ema is still above the 200 ema then it is safe to buy, and opposite for a sell.
Hope this helps a little on confirming.
The 100 and 200 emas are great for figuring out trend bias, using them in conjugation with other emas are very good.
What a way to end the year Yohec, great going congratulations on that trade .
Hi Philip, thank you for sharing this awesome system. However, I am still a bit confused about the Stoch parameters settings on MT4. I tried the settings in this post, and made the Stoch chart very weird. Would you mind show me how to set it on the attached imaged below?
Thanks for the headsup Yohec.
How much importance do you give to RSI before getting into a trade? I personally hesitate getting into a trade setup like this unless the RSI is above 50 or atleast above 45.
Long opportunity coming up on AUDCHF! Stoch moving out of Oversold zone.
I do not look at the RSI. I look at the daily chart. I only enter a trade if the trend on the daily chart agrees with the direction of the signal on the H4 chart.
Thanks for that. I entered long at 0.7189
Im guessing that AUDUSD was a lost for you guys?? hahaha
I am still in the trade, it has not hit my SL. Why is it funny to you?
Sweet! I actually entered a few pips later than you.