are you still using the stochs for exit? Maybe good idea to take profits with Fibopivots. They seem to be good areas for exit.
Hi mate ,it is ma 50and some faster ma is jjma,j2jma when it cross the arrow on (coders guru show me )and it is not stabil yet I am not a programer .Some programer can help me to make it better.and some other indi like 3cjmacd . it will be visualable to the user.the posted indi is good all indi is good . pssttt dont tell the indi police I aint use it from the 1st time . I only use 3 indi on my charts ,seens it already wellfiltered .Or I will use more indi ,filter,tf , just to point it out where to enter and exit of a trade .cheers
Thanks a lot for your kind cooperation.
Do you check your PM?
Yes i got it now and pls check yours.
I have no idea about PM what is this.
what is your opinion about use of Stoch (26.9.9) for exit of position?
It seems is better than Stoch (5.3.3). Of course we would use Stoch(5.3.3) for take a position and Stoch (26.9.9) only use for exit.
BrunoFX... i m impressed by the simplicity of this system. As far as my experience is concerned, the real success in the forex market lies in applying simple trading systems with discipline and consistency. However, a very important part, ie the exit, is still need to be developed.
The problem with exits of trend-following systems is that not all exit strategies work well in different market conditions. An exit strategy which may hve earned u most of trend two or three times, will probably let u out too early the third or fourth time. So basically the point I am trying to clear is we must get settle on anyone way to exit which we are comfortable with. I use many exit strategies, some of which are detailed below...
I use this one to take a fix no. of pips. Here, I take the value of ATR(14) on the bar/candle I entered my trade and multiply that value by 2,3,4 or 5 depending on the momentum in the market. The resulting value is the no. of pips I take. For e.g. today on GBPUSD, a trade was signaled at 06:30 GMT. The ATR(14) at the time of entry was 0.0014. Multiplying it by 5 gives me 0.0070 or 70 pips. So this becomes my profit target.
I often use this indicator for trailing my stop. I think this needs no further explaination. Most of the time i get very good exits.
Pivots Based Exits
Using a combination of Camarilla Pivots and standard pivots can be a very effective way of exiting a trade. This method helps u to catch most of the pips but it requires a little judgement. Once u practice this way of exit, believe me, u wont need another.
Hope this helps everyone. If anybody wants, I can post chart examples.
CHART examples would be GReaT
I have posted charts of all the three exit suggestions. Hope this helps...
Thank you for your interest. Even if I did not include/understand with your explanation with indicator ATR (undoubtedly translation via google), I find that the combination BrainTrend2Stop and Pivots Based Exits could be a good solution to continue the trades beyond the crossing of Stoch but also the best left I also try to see which is the best unit of time for this type of strategy