at my last posts 12,18 & 19 i wanted to explain an idea for a system that depends on stochstic oscillator compined with Adrew's pitchfork ,
our excel i mean the point of power here was that we've plan B which protects us at failure ,
so what about giving plan C !!! yes & why not ,
the whole idea about C 's when failure of the pitchfork occur & and we 've to use B to cover the failure after covering stop trading this time frame & switch to higher on ok ,
very simple, just trade the coming opportunity on a the next higher time frame
for me i'll use timeframes at a relationship near 1:4 ratio , i mean if the small time frame was 15 min then i'll use 1 hr ( = 15 min * 4) ,
and if the smaller time frame was 1 hr then the higher one 'll be 4 hr ( = 1hr * 4)
i think it 's simple idea which i tested before and it worked so let's hope it 'll do at the future
so let's complete about our life example GBP ( i'll prefare just to watch this no real money for trading just watching )
in our live example for the GBP we traded the 1 hr time frame so we'll enter at the next sign for the 4hr time frame , so take a look at the pic
U have a wonderful strategy with stochatistic osc. Can you tell more specified what is 'Plan A', 'Plan B' and 'Plan C'?
Did any trader at the forum caught this
How to trade failure
salamy for everbody joining us here & thanks for Ganja about his special theard , i hope u to take it seriously , this isn't about some colored indicators( for me indicators 're just a confirmation tool & the less the better ) ,this's about real trading , trading that realy works in the real market
today i'll write about trading chart pattern failure ,
at first & cause of my bad english i caught a picy from Mark McRae article at surefire trading to explain how to excel over others by trading pattern filure,
read carefully & enjoy it
"I want to explain a great way to benefit when everyone else is wrong. Here's the theory. Most trader are very single minded when they trade. They get an idea into their head and it stays there.
Once they have decided they are going to go long on a breakout they generally stick with it. This is particularly true of well-defined technical levels like the 52-week high or low. It could even be a trend line or chart pattern. The thing is, it could be anything.
If you follow only one or two markets you will know what I am taking about. Even though you shouldn't listen to other traders you will probably have a fair idea of where the major support and resistance levels everyone is watching.
Remember also that trading is as much about the study of human behavior as anything else. Once one of those big levels breaks everybody and their dog will try and get on the right side of the move. This is where we come in - listen up, this is important.
When The Market Doesn't Do What You Expected It To Do, Chances Are It's Probably Doing The Opposite.
For example - lets look at our greedy little friends who went long on the breakout and got wrong footed. Some of their stops will have been taken and some of the kamikaze crowd without stops will be filling their pants. This is exactly where we jump in - when everybody else is exercising damage control.
To take advantage of this we need two plans. Plan A and Plan B. As you probably guessed, Plan A is to go with the crowed: if the market breaks in the direction you first assumed it might, then you are there. You have an entry point, a stop loss level and a probable target already worked out.
Plan B is where we excel. If the market breaks the other way, we also have a plan."
at my last posts 12,18 & 19 i wanted to explain an idea for a system that depends on stochstic oscillator compined with Andrew's pitchfork ,
As you can see we hit the target for about 269 pip ,so plane c works ,
Sorry increase for being to late answering you ,
it's just the built in stochastic oscillator at any Metatrade platform
Until now read my previous posts here #12 , #18 , #19 , #22 ,
after giving some good life examples i'll write a manual for the complete method
As you can see trading chart patterns confirmed by mm-lines realy helpful,
Some patterns 'll fail so take care & build a solid strategy with money management & stoploss ok
Here's a complete Inverted Head & Shoulders on the CHF ,
the pattern 's confirmed by Divergence signal at momentum indicators ,
let's hope the price line can smash through the neck line soon
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