Bringin sexy back - stochastics
Like most people, I make money, lose money, always looking for something useful, etc. We're really tired of talking about this, aren't we?
Finally "found" something, it's actually buffy's slingshot system, or I think it's called "bline" and I made my own version, slightly different from his template.
This really applies to any time frame. But I prefer scalping in 5 minutes or 15 hours or 1 hour or 4 hours.
Money management? It's up to you. My stops are discretionary, if I'm trading 5 minutes or 15 minutes I'll look at the previous highs or go with 10-15 pips, it really depends on a lot of factors. But I'm sorry I can't help you because I rely on my experience to do a good job at parking. Same as target. At least the goal is the same as discontinuing use. Also, this system was made for Nasdaq and SnP, and its defaults are different from fxxxxxxx.
But that shouldn't be too worrying since I only write and show the best deals. There is no reason to overtrade, and there is no reason to take half-assed trades or trades that are less certain. Only look for the best trades so your stops can be tight and you can easily make 25-30 pips a day in 5 or 15 minutes. I can almost guarantee you perfect deals every day.
set up:
Stochastic indicator:
k:20
d:10
Slow down: 20
Another stochastic indicator in the same window. This is long term.
k:50
d:10
Slow down: 20
The third stochastic indicator in the same window. This one is for entries.
k:5
d:3
Slow down: 3
First indication: What you need to do is first look at 20 and 50 to see what they are doing. It's not necessary, but when 20 is above 50, that's my first hint that the trend is up. When 20 is below 50, the trend is down.
Sometimes they are very close to each other, which should make you cautious when making trades.
Second indication: You want the 20 to cross its signal line downwards, and the 50 to do the same thing. If both cross their signal lines, the price is trending down and we want to sell.
Vice versa when they cross.
Taking the trade: When 20 and 50 cross the signal line downwards, we focus on 5. If the trend is down, we want 5 to go into overbought conditions. Basically we are looking for a pullback. Once the 5 crosshairs are down, we enter. If a nice little consolidation forms and the 20 and 50 are trending down, you can enter here even if the 5 doesn't make it very high.
When 20 and 50 are trending up and vice versa these examples will clear everything up and I will post some examples after I finish this post but I will add some notes and then attach the first image.
Remark:
- The crossover between 20 and 50 is less reliable. Just like MA crossovers, it can be tricky. But it looks good because it keeps you away from bad deals.
- When 20 crosses its signal line, see how steeply it rises or falls, and look at the space between the main line and the signal. The more space, the better the deal. The same goes for slope, the steeper the better. After some live and published examples, you'll learn to see this stuff for yourself, and you'll know when it's nice and stylish and when it's naughty.
- 5 It is not necessary to pull back all the way into oversold or overbought areas. Wait for price to consolidate or for the stock to cross before entering. In a strong trend, you can easily see when the price stops before continuing.
- I'm awesome
- If I can think of anything else, I'll add it.
- Oh yes.
Perfect long trade:
20 over 50 upwards.
Both 20 and 50 cross the signal line and slope nicely
5 pulled back all the way into oversold conditions, while prices stagnated and consolidated.
- Also try adding the 9 EMA and the 34 EMA (I like Fibonacci numbers) and when you are ready to place a trade, check if the 9 crosses up through the 34 line if you are on a long trade or if you are on a short trade. This is really just extra confirmation. I personally wouldn't use it unless I'm really bored.
OK You know feel free to add whatever you want and I won't take all the credit but I changed it a little bit.
Okay, first chart
20 crosses 50. They all crossed the signal line and are rising nicely. No. 5 did not fall all the way, but the price consolidated. I would get in right after the bar hit its low point. Basically telling me the price can't get any lower. I wait for it to close and then I enter. It's a little random, but that's how I do things. I'm looking for some confirmation. The other one is that star-looking bar with very low prices. It has a name, the opening price is the same as the closing price, and it shows indecision, so that's another little confirmation.
Okay, more to come. stay tuned
Finally "found" something, it's actually buffy's slingshot system, or I think it's called "bline" and I made my own version, slightly different from his template.
This really applies to any time frame. But I prefer scalping in 5 minutes or 15 hours or 1 hour or 4 hours.
Money management? It's up to you. My stops are discretionary, if I'm trading 5 minutes or 15 minutes I'll look at the previous highs or go with 10-15 pips, it really depends on a lot of factors. But I'm sorry I can't help you because I rely on my experience to do a good job at parking. Same as target. At least the goal is the same as discontinuing use. Also, this system was made for Nasdaq and SnP, and its defaults are different from fxxxxxxx.
But that shouldn't be too worrying since I only write and show the best deals. There is no reason to overtrade, and there is no reason to take half-assed trades or trades that are less certain. Only look for the best trades so your stops can be tight and you can easily make 25-30 pips a day in 5 or 15 minutes. I can almost guarantee you perfect deals every day.
set up:
Stochastic indicator:
k:20
d:10
Slow down: 20
Another stochastic indicator in the same window. This is long term.
k:50
d:10
Slow down: 20
The third stochastic indicator in the same window. This one is for entries.
k:5
d:3
Slow down: 3
First indication: What you need to do is first look at 20 and 50 to see what they are doing. It's not necessary, but when 20 is above 50, that's my first hint that the trend is up. When 20 is below 50, the trend is down.
Sometimes they are very close to each other, which should make you cautious when making trades.
Second indication: You want the 20 to cross its signal line downwards, and the 50 to do the same thing. If both cross their signal lines, the price is trending down and we want to sell.
Vice versa when they cross.
Taking the trade: When 20 and 50 cross the signal line downwards, we focus on 5. If the trend is down, we want 5 to go into overbought conditions. Basically we are looking for a pullback. Once the 5 crosshairs are down, we enter. If a nice little consolidation forms and the 20 and 50 are trending down, you can enter here even if the 5 doesn't make it very high.
When 20 and 50 are trending up and vice versa these examples will clear everything up and I will post some examples after I finish this post but I will add some notes and then attach the first image.
Remark:
- The crossover between 20 and 50 is less reliable. Just like MA crossovers, it can be tricky. But it looks good because it keeps you away from bad deals.
- When 20 crosses its signal line, see how steeply it rises or falls, and look at the space between the main line and the signal. The more space, the better the deal. The same goes for slope, the steeper the better. After some live and published examples, you'll learn to see this stuff for yourself, and you'll know when it's nice and stylish and when it's naughty.
- 5 It is not necessary to pull back all the way into oversold or overbought areas. Wait for price to consolidate or for the stock to cross before entering. In a strong trend, you can easily see when the price stops before continuing.
- I'm awesome
- If I can think of anything else, I'll add it.
- Oh yes.
Perfect long trade:
20 over 50 upwards.
Both 20 and 50 cross the signal line and slope nicely
5 pulled back all the way into oversold conditions, while prices stagnated and consolidated.
- Also try adding the 9 EMA and the 34 EMA (I like Fibonacci numbers) and when you are ready to place a trade, check if the 9 crosses up through the 34 line if you are on a long trade or if you are on a short trade. This is really just extra confirmation. I personally wouldn't use it unless I'm really bored.
OK You know feel free to add whatever you want and I won't take all the credit but I changed it a little bit.
Okay, first chart
20 crosses 50. They all crossed the signal line and are rising nicely. No. 5 did not fall all the way, but the price consolidated. I would get in right after the bar hit its low point. Basically telling me the price can't get any lower. I wait for it to close and then I enter. It's a little random, but that's how I do things. I'm looking for some confirmation. The other one is that star-looking bar with very low prices. It has a name, the opening price is the same as the closing price, and it shows indecision, so that's another little confirmation.
Okay, more to come. stay tuned
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