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Attachments: Method of using Stochastic Oscillator Profitably
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Method of using Stochastic Oscillator Profitably

  • Post #1
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  • First Post: Edited Mar 11, 2017 2:15pm Mar 9, 2017 2:54am | Edited Mar 11, 2017 2:15pm
I said in my previous thread," Simple and profitable Trading Style" that I will separate stochastic trade setups from the thread. I will be here as much as in the other thread sharing stochastic related setups.
There have been misconceptions on method of using stochastic oscillator. Don't get me wrong. If you're profitable with it good luck friends.
Stochastic oscillator is powerful indicator to follow trending market. It's also a great indicator to get into new position when we're not already in- continuation trade setup. We cannot use stochastic to fight trending market.
  • Post #4
  • Quote
  • Edited 3:25am Mar 9, 2017 3:15am | Edited 3:25am
How do we use it profitably? When price is moving between 20 and 80 we just have to stay away. This is because no one can determine the direction of the movement. For bullish trade, when price gets to overbought region, above 80, if a visible resistance is broken while stochastic is still on overbought then we have a great bullish trade. Then for bearish trade when stochastic gets to oversold region and any visible support is broken while stochastic is still on oversold region, then we have a great bearish trade setup. I have already shared some stochastic-based setups on my previous thread.
It doesn't need too much explanation. I will be sharing all here
The misconceptions were that we should take position when the main and the signal converge/diverge, above 80 or below 20. If you have been focusing on this practice you would observe that stochastic sucks accounts
Those who are following my previous thread, EURNZD long was the last I shared. I missed the first entry point with the strategy i share on that thread. I got in with stochastic
I wish to bring them here again some of the pairs worth waiting for with stochastic: AUDCAD, weekly; USDCAD, daily; GBPUSD, daily; NZDUSD, daily; NZDCHF, daily, EURCAD, daily. I have posted some on the previous thread
EURCAD long breakout is slow and deceptive for me. No clear breakout
No matter how watchful we are some trade setups would slowly escape us by not forming strong signal
Quoting 9jatrader
It doesn't need too much explanation. I will be sharing all here
It doesn't need much for sure but we will require the settings that you use mainly, I expect Default of MT4 or did I see 8,3,3, in the other thread?

Also, a few charts to keep interest going, but I have to ask, are you color blind?

Just curious why those horrible green background charts, very unusual to see, especially for sharing and demonstrating.

Trade Responsibly
If you trade like me, you'll be homeless and broke within a week.
Quoting Erebus
{quote} It doesn't need much for sure but we will require the settings that you use mainly, I expect Default of MT4 or did I see 8,3,3, in the other thread? Also, a few charts to keep interest going, but I have to ask, are you color blind? Just curious why those horrible green background charts, very unusual to see, especially for sharing and demonstrating. Trade Responsibly
It's MT4 default, it's 8,3,3. I never changed anything on bollinger bands. Am not colour blind. I was just testing the colours that could fit Fibonacci. Fibonacci is too dull on white background.
On what time frame do you use stochastics?
Quoting rolfw
On what time frame do you use stochastics?
It can be used on all time frames. But I trade the daily, weekly and the monthly timeframes
Quoting Erebus
{quote} but I have to ask, are you color blind? Just curious why those horrible green background charts, very unusual to see, especially for sharing and demonstrating.
I think everyone following the thread will turn color blind by the end of it
Quoting jw1981
{quote} I think everyone following the thread will turn color blind by the end of it
I have changed it to default mt4. About four FF friends have been so curious about the colour. Take the new chart on my EURUSD long position
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd-d1nn.png Size: 40 KB
The colour also good for Fibonacci and stochastic. Enjoy following me
Attached Image (click to enlarge)
Click to Enlarge Name: eurgbp-d1bb.png Size: 40 KB
sub
what we want:1+1+1+1+1+1+1+1=8 what market delivers:1+2+8+7-4+0-5+8-4-5=8
EURCAD I have been waiting for is cunningly taking shape; It seems prepared to ambush me
Just curious why all the daily trades always respond to weekly psychological support/resistance and make U-turn. I wish to always get out with weekly support/resistance. Am still checking
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