Intraday Trading - LIVE! -
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thread: Intraday Trading - LIVE!

  1. #71
    Junior Member sanayrgwz's Avatar
    8
    Please I need to find out more about gj...

  2. #72
    Please I need to find out more about gj....
    I can't think right now - too tired of working too many hours weekly. I will have a nap and then I will explain how I look at the GJ.

    One thing that I can tell you though is, if you want to wash your account out in a hurry, only mess with GJ.

    Alright, I will get back to you after my nap.

  3. #73
    Please I need to know more about gj....
    That I am going to attempt and explain as best I can I look at the GY chart and determine which way to trade. I don#8217;t have picture editing software, which means you will have to forgive me for the examples on the charts.

    Alright, this really is a 30M Heiken i Candle Chart (HLOC candles don#8217;t reveal trends as well). I just look at signs when the Stochastic (Settings: %K: 28, %D: 3, Slowing: 4, MA Method: Straightforward) is ";More Than Sold"; or ";More Than Allergic"; as shown from the green and orange ovals. I search for longs and bought for shorts, if over marketed. A signal for a long is when the entire body of the candle and the wick are higher than the candle before a signal and it is when the entire body of the candle and the wick are lower the candle before it. Each one of the arrows at the following chart shows a signal.



    Now before I enter a transaction on any of those signals though I'll check the 1H and the 4H charts to see if they look as they support the transaction. If either of the charts is just coming out of over bought when you have a buy signal it is wise not to take the trade and the same. You are able to trade this taking a look at the 30M chart, but there's a higher degree of risk. The following chart shows what I mean.



    Notice how the Stochastic is just coming out of the over bought place on the first three buy signs? Even on the 4th buy signal I'd have liked for the stoch to have been a bit lower already, but if you take a look at the candle before that last buy signal, it was a briefer candle compared to the one before, which tells me that there's a chance that the brief move is coming to a conclusion and that the buy might be a success. Owing to that, the signal I would not hesitate to take.

    We're trading the GY, which has huge moves to say the least. You will have to use stop losses that are big to remain in the trade and to adapt these moves to give the opportunity to it. I use 75 pips for my stop the majority of the time, and it sounds a bit too tight. You will have to decide how much you need to risk a trade and transaction lot sizes accordingly. Trading the GY with a stop of less than 75 pips is just asking to get stopped out IMO.

    That#8217;s pretty much it in a nutshell. I hope you find it useful.

    Oo7_ts.

    PS. I should mention that the first call in this thread is so there is no track record. I don't have any idea if this will be a system in the long term. I developed this system, since I have time to trade and this is kind of a set and forget system to allow me to go about business as required.

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