Earn up to
$50000
for inviting friends
to get StartUp Bonus
from InstaForex
No investments required!
Start trading without
any investments and risks
WITH NEW STARTUP
BONUS 1000$
GET BONUS
55%
from InstaForex
on every deposit
  • Amazed
  • Amused
  • Angelic
  • Angry
  • Asleep
  • Bashul
  • Bitchy
  • Blah
  • Bored
  • Breezy
  • Brooding
  • Busy
  • Buzzed
  • Chatty
  • Cheeky
  • Cheerful
  • Cold
  • Confused
  • Cool
  • Crappy
  • Cynical
  • Daring
  • Dead
  • Devilish
  • Doh
  • Doubtful
  • Drunk
  • Fine
  • Flirty
  • Goofy
  • Grumpy
  • Happy
  • Hot
  • Hungover
  • Innocent
  • Inspired
  • In_Love
  • Lonely
  • Lurking
  • Mellow
  • Paranoid
  • Pensive
  • Psychedelic
  • Relaxed
  • Sad
  • Scared
  • Shocked
  • Sick
  • Sleepy
  • Sneaky
  • Stresses
  • Tired
  • Twisted
  • Worried
  • Yeehaw
  • Reply to Thread
    Page 1 of 22 1 2 3 6 ... LastLast
    Results 1 to 10 of 217

    Thread: My SMA, RSI and Stochastic Strategy

    1. #1
      FX Zombie
      I am:
      ----
       
      debren is a jewel in the rough debren is a jewel in the rough debren is a jewel in the rough debren is a jewel in the rough debren's Avatar
      Posts
      2,640
      Accumulated bonus
      640.69 USD (What is this?)
      Thanks
      114
      Thanked 346 Times in 145 Posts

      Default My SMA, RSI and Stochastic Strategy

      Hello everyone, i have also decided to join the league of ever winning traders in the trading journal section of this great forum. The strategy i want to share is what i just started working on and i am currently perfecting the effectiveness of this strategy on a demo trading account.

      The strategy comprises of the combination of three (3) indicators which are;

      -Two(2) Simple Moving Average(SMA), values 5 & 10;
      -Relative Strength Index(RSI), settings--Period=9, level=50;
      -Stochastic indicator, settings=14,3,3 and level=20(considered as oversold market) & 80(considered as overbought market).

      Time Frame: Daily
      Currency Pair: Any Pair

      RULES FOR BUYING:
      1. Wait for the 5SMA to cross the 10SMA to the upside;
      2. Check if the stochastic indicator is in the oversold condition(either below 20 level or just heading above 20 level)
      3. Check if RSI indicator is at or above 50 level;
      4. If conditions 1-3 are met, place a BUY STOP order at 10 pips above the high of the next candlestick(i.e the daily candlestick after the crossing);
      5. Stop loss should be either 100 pips or 80 pips below the low of the previous candlestick(whichever is higher) and the take profit should be either same value (1:1) or double the stop loss value(1:2). Appearance of a counter signal may also be used as the target.

      RULES FOR SELLING:
      !. Wait for the 5SMA to cross the 10SMA to the downside;
      2. Check if the Stochastic indicator is in the overbought condition(either above 80 level or just heading below 80 level);
      3. Check if RSI indicator is at or above 50 level;
      4. Place a SELL STOP order at 10 pips below the low of the next candlestick(i.e the daily candlestick after the crossing);
      5. Stop loss should be either 100 pips or 80 pips above the high of the previous candlestick(whichever is higher) and same apply as in the buy rule for targets(1:1 or 1:2)

      See the chart below for a trade taken today on USDCAD.
      Attached Images

    2. Catch Forex
    3. The following 16 users say Thank You to debren for this useful post.

      Black Mamba (09-22-2017), dzin4aans (09-22-2017), fembizz (09-22-2017), FlyingShark (09-22-2017), forexianz (09-28-2017), GENERAL (12-26-2017), JANEIUMEDIA (10-30-2017), kammraz (09-22-2017), MartyFish (09-25-2017), Mkape (11-09-2017), NikitaBelle (09-22-2017), PhAnToMtRaDeR79 (09-25-2017), Robinmelodic (01-13-2018), simisola (09-21-2017), union12 (11-28-2017), zahid4x (09-22-2017)

    4. #2
      MT5 Resident
      I am:
      ----
       
      simisola has a reputation beyond repute simisola has a reputation beyond repute simisola has a reputation beyond repute simisola has a reputation beyond repute simisola has a reputation beyond repute simisola has a reputation beyond repute simisola has a reputation beyond repute simisola has a reputation beyond repute simisola has a reputation beyond repute simisola has a reputation beyond repute simisola has a reputation beyond repute simisola's Avatar
      Posts
      5,638
      Accumulated bonus
      1695.32 USD (What is this?)
      Thanks
      7,974
      Thanked 5,754 Times in 1,928 Posts

      Default

      Your trading system is cool, but what I am a bit not comfortable with is the risk reward of 1:1 and that fact that you have a stop loss of as high as 80-100? To me that is a little somehow because if you have a losing streak, your account will have a drawdown.

      My Trading Journal: ~~~My RSI AND 200 EMA Combo~~~

    5. The following 4 users say Thank You to simisola for this useful post.

      Black Mamba (09-22-2017), dzin4aans (09-22-2017), PhAnToMtRaDeR79 (09-27-2017), zahid4x (09-22-2017)

    6. #3
      MT5 Maniac
      I am:
      Cool
       
      Alexander Tatsumaki has a reputation beyond repute Alexander Tatsumaki has a reputation beyond repute Alexander Tatsumaki has a reputation beyond repute Alexander Tatsumaki has a reputation beyond repute Alexander Tatsumaki has a reputation beyond repute Alexander Tatsumaki has a reputation beyond repute Alexander Tatsumaki has a reputation beyond repute Alexander Tatsumaki has a reputation beyond repute Alexander Tatsumaki has a reputation beyond repute Alexander Tatsumaki has a reputation beyond repute Alexander Tatsumaki has a reputation beyond repute Alexander Tatsumaki's Avatar
      Posts
      3,150
      Accumulated bonus
      1919.20 USD (What is this?)
      Thanks
      2,088
      Thanked 5,639 Times in 2,078 Posts

      Default

      but what I am a bit not comfortable with is the risk reward of 1:1 and that fact that you have a stop loss of as high as 80-100?
      those are unrelated really. he could be using 0.01 lot or 10 lot, would the 100 pips matter if the equity was the same?



      if you have a losing streak, your account will have a drawdown.
      that would be true regardless. but i guess he believes that his method has an edge over the market, which is not something strange really. i see +4% about on my strategies, some are 3 some are 2. but yes it does happen.
      The symbiosis mashed up.. Trading Journal, ideas and ideas and also, maybe, but not limited to, other things!
      symbiosis mashup <-- click this thing. pie, cake, sugar, coffee and closing all trades in profit. (and more cake)

    7. The following 4 users say Thank You to Alexander Tatsumaki for this useful post.

      Black Mamba (09-22-2017), dzin4aans (09-22-2017), Mkape (11-09-2017), zahid4x (09-22-2017)

    8. #4
      It's time to retire!
      I am:
      Chatty
       
      kammraz has much to be proud of kammraz has much to be proud of kammraz has much to be proud of kammraz has much to be proud of kammraz has much to be proud of kammraz has much to be proud of kammraz has much to be proud of kammraz has much to be proud of kammraz has much to be proud of kammraz's Avatar
      Posts
      14,456
      Accumulated bonus
      3135.65 USD (What is this?)
      caught pokemons
      2 (What is this?)
      Thanks
      329
      Thanked 1,265 Times in 528 Posts

      Default

      Quote Originally Posted by simisola View Post
      Your trading system is cool, but what I am a bit not comfortable with is the risk reward of 1:1 and that fact that you have a stop loss of as high as 80-100? To me that is a little somehow because if you have a losing streak, your account will have a drawdown.
      Quote Originally Posted by Alexander Tatsumaki View Post
      those are unrelated really. he could be using 0.01 lot or 10 lot, would the 100 pips matter if the equity was the same?

      that would be true regardless. but i guess he believes that his method has an edge over the market, which is not something strange really. i see +4% about on my strategies, some are 3 some are 2. but yes it does happen.
      Actually the stop loss is even higher. 80-100 pips below previous low. So I take the liberty of looking at the chart and actually the stop loss is around 140 pips?

      At the end of the day it will depend on his winning percentage and frequency of his trade. Anything above 51% per 100 trade will make him be in profit. But this trading using daily candlestick though.

      Let us see how it goes for now. I believe thread starter will appreciate any good input from us as well.
      Never Give Up! Success Is Just Around The Corner

    9. The following 3 users say Thank You to kammraz for this useful post.

      Black Mamba (09-22-2017), dzin4aans (09-22-2017), zahid4x (09-22-2017)

    10. #5
      Moderator
      I am:
      Cheerful
       
      NikitaBelle has a reputation beyond repute NikitaBelle has a reputation beyond repute NikitaBelle has a reputation beyond repute NikitaBelle has a reputation beyond repute NikitaBelle has a reputation beyond repute NikitaBelle has a reputation beyond repute NikitaBelle has a reputation beyond repute NikitaBelle has a reputation beyond repute NikitaBelle has a reputation beyond repute NikitaBelle has a reputation beyond repute NikitaBelle has a reputation beyond repute NikitaBelle's Avatar
      Posts
      40,336
      Thanks
      39,639
      Thanked 25,050 Times in 7,197 Posts
       Black Frame Talent: Daily Contest of Demotivators on MT5.com Forum

      Default

      Welcome to the journal section debren!

      You got one of my favorite indicator Stochastic, interesting! It's a simple indicator that always misunderstood, anyways, let see how you can make profitable trades out of it and your other indicators combination as well.

      I wish you success in your journal and in your trading in general!
      Cheers!



      P.S. As per section rules, please add your journal to your signature. There is a cool step by step instruction below on how to do it in case you don't know...please check it out.

      Section Rules

    11. The following 3 users say Thank You to NikitaBelle for this useful post.

      Black Mamba (09-22-2017), dzin4aans (09-22-2017), zahid4x (09-22-2017)

    12. #6
      It's time to retire!
      I am:
      Tired
       
      Black Mamba has a reputation beyond repute Black Mamba has a reputation beyond repute Black Mamba has a reputation beyond repute Black Mamba has a reputation beyond repute Black Mamba has a reputation beyond repute Black Mamba has a reputation beyond repute Black Mamba has a reputation beyond repute Black Mamba has a reputation beyond repute Black Mamba has a reputation beyond repute Black Mamba has a reputation beyond repute Black Mamba has a reputation beyond repute Black Mamba's Avatar
      Posts
      12,432
      Accumulated bonus
      3375.22 USD (What is this?)
      Thanks
      2,367
      Thanked 2,087 Times in 1,132 Posts

      Default

      Welcome mate i am really excites to see how you would make profit out of this strategy, i have used this strategy for some time and let me remind you this is a very good strategy.
      Really excited to see some charts here hope you will be posting them soon

    13. The following 3 users say Thank You to Black Mamba for this useful post.

      dzin4aans (09-22-2017), simisola (09-22-2017), zahid4x (09-22-2017)

    14. #7
      MT5 Veteran
      I am:
      Busy
       
      FlyingShark has a brilliant future FlyingShark has a brilliant future FlyingShark has a brilliant future FlyingShark has a brilliant future FlyingShark has a brilliant future FlyingShark has a brilliant future FlyingShark has a brilliant future FlyingShark has a brilliant future FlyingShark has a brilliant future FlyingShark has a brilliant future FlyingShark has a brilliant future FlyingShark's Avatar
      Posts
      3,908
      Accumulated bonus
      1667.79 USD (What is this?)
      caught pokemons
      5 (What is this?)
      Thanks
      1,731
      Thanked 1,843 Times in 865 Posts

      Default

      Quote Originally Posted by debren View Post
      Hello everyone, i have also decided to join the league of ever winning traders in the trading journal section of this great forum. The strategy i want to share is what i just started working on and i am currently perfecting the effectiveness of this strategy on a demo trading account.

      The strategy comprises of the combination of three (3) indicators which are;

      -Two(2) Simple Moving Average(SMA), values 5 & 10;
      -Relative Strength Index(RSI), settings--Period=9, level=50;
      -Stochastic indicator, settings=14,3,3 and level=20(considered as oversold market) & 80(considered as overbought market).

      Time Frame: Daily
      Currency Pair: Any Pair

      RULES FOR BUYING:
      1. Wait for the 5SMA to cross the 10SMA to the upside;
      2. Check if the stochastic indicator is in the oversold condition(either below 20 level or just heading above 20 level)
      3. Check if RSI indicator is at or above 50 level;
      4. If conditions 1-3 are met, place a BUY STOP order at 10 pips above the high of the next candlestick(i.e the daily candlestick after the crossing);
      5. Stop loss should be either 100 pips or 80 pips below the low of the previous candlestick(whichever is higher) and the take profit should be either same value (1:1) or double the stop loss value(1:2). Appearance of a counter signal may also be used as the target.

      RULES FOR SELLING:
      !. Wait for the 5SMA to cross the 10SMA to the downside;
      2. Check if the Stochastic indicator is in the overbought condition(either above 80 level or just heading below 80 level);
      3. Check if RSI indicator is at or above 50 level;
      4. Place a SELL STOP order at 10 pips below the low of the next candlestick(i.e the daily candlestick after the crossing);
      5. Stop loss should be either 100 pips or 80 pips above the high of the previous candlestick(whichever is higher) and same apply as in the buy rule for targets(1:1 or 1:2)

      See the chart below for a trade taken today on USDCAD.
      Hi debren, I believe that you are watching well your charts, but your entry is lagging and let's have the same example, USDCAD in this case. We all know fundamentals and that when a currency is in the condition of the last pair mentioned then we avoid buying it like, hell. Also, if I wanted, so desperate and had the best good feeling that UC is going up then I would made my entry lower, because for this pair it's very hard now to move 200 pips, I would spare 50 pips only.

    15. The following 4 users say Thank You to FlyingShark for this useful post.

      Black Mamba (09-23-2017), dzin4aans (09-22-2017), PhAnToMtRaDeR79 (09-25-2017), zahid4x (09-22-2017)

    16. #8
      I just can't quit pips!
      I am:
      Inspired
       
      fembizz is a splendid one to behold fembizz is a splendid one to behold fembizz is a splendid one to behold fembizz is a splendid one to behold fembizz is a splendid one to behold fembizz is a splendid one to behold fembizz is a splendid one to behold fembizz's Avatar
      Posts
      5,026
      Accumulated bonus
      1239.29 USD (What is this?)
      Thanks
      347
      Thanked 817 Times in 318 Posts

      Default

      Quote Originally Posted by debren View Post
      Hello everyone, i have also decided to join the league of ever winning traders in the trading journal section of this great forum. The strategy i want to share is what i just started working on and i am currently perfecting the effectiveness of this strategy on a demo trading account.

      The strategy comprises of the combination of three (3) indicators which are;

      -Two(2) Simple Moving Average(SMA), values 5 & 10;
      -Relative Strength Index(RSI), settings--Period=9, level=50;
      -Stochastic indicator, settings=14,3,3 and level=20(considered as oversold market) & 80(considered as overbought market).

      Time Frame: Daily
      Currency Pair: Any Pair

      RULES FOR BUYING:
      1. Wait for the 5SMA to cross the 10SMA to the upside;
      2. Check if the stochastic indicator is in the oversold condition(either below 20 level or just heading above 20 level)
      3. Check if RSI indicator is at or above 50 level;
      4. If conditions 1-3 are met, place a BUY STOP order at 10 pips above the high of the next candlestick(i.e the daily candlestick after the crossing);
      5. Stop loss should be either 100 pips or 80 pips below the low of the previous candlestick(whichever is higher) and the take profit should be either same value (1:1) or double the stop loss value(1:2). Appearance of a counter signal may also be used as the target.

      RULES FOR SELLING:
      !. Wait for the 5SMA to cross the 10SMA to the downside;
      2. Check if the Stochastic indicator is in the overbought condition(either above 80 level or just heading below 80 level);
      3. Check if RSI indicator is at or above 50 level;
      4. Place a SELL STOP order at 10 pips below the low of the next candlestick(i.e the daily candlestick after the crossing);
      5. Stop loss should be either 100 pips or 80 pips above the high of the previous candlestick(whichever is higher) and same apply as in the buy rule for targets(1:1 or 1:2)

      See the chart below for a trade taken today on USDCAD.
      You are very much welcome mate to this house of success has displayed by journals strategists. I wish you a very good profit and continuous trading success in respective practices. I will like to know if you also make use of the moving averages on higher timeframe charts for support and resistance price levels to filter your trades?

      ---------- Post added at 10:59 AM ---------- Previous post was at 10:34 AM ----------

      Quote Originally Posted by simisola View Post
      Your trading system is cool, but what I am a bit not comfortable with is the risk reward of 1:1 and that fact that you have a stop loss of as high as 80-100? To me that is a little somehow because if you have a losing streak, your account will have a drawdown.
      Do not think in that way mate as a stop loss of even 1000pips may come up with small limited risk than the one with 100pips below but the truth is every forex trader has a unique attribute and prowess to view and trade the same market under normal circumstances and conditions.

    17. The following 5 users say Thank You to fembizz for this useful post.

      adewale (09-22-2017), Black Mamba (09-23-2017), dzin4aans (09-22-2017), simisola (09-22-2017), zahid4x (09-22-2017)

    18. #9
      FX Zombie
      I am:
      ----
       
      debren is a jewel in the rough debren is a jewel in the rough debren is a jewel in the rough debren is a jewel in the rough debren's Avatar
      Posts
      2,640
      Accumulated bonus
      640.69 USD (What is this?)
      Thanks
      114
      Thanked 346 Times in 145 Posts

      Default

      Quote Originally Posted by simisola View Post
      Your trading system is cool, but what I am a bit not comfortable with is the risk reward of 1:1 and that fact that you have a stop loss of as high as 80-100? To me that is a little somehow because if you have a losing streak, your account will have a drawdown.
      Thank you for this observation, like i said in my introduction any suggestion of a better fine-tunning of this strategy is very welcomed. I will look at making some adjustment in that regard.

      Quote Originally Posted by fembizz View Post
      You are very much welcome mate to this house of success has displayed by journals strategists. I wish you a very good profit and continuous trading success in respective practices. I will like to know if you also make use of the moving averages on higher timeframe charts for support and resistance price levels to filter your trades?

      The simple moving averages 5 & 10 are fast and slow moving averages and i use it as my first signal to determine the new trend forming.

      ---------- Post added at 10:59 AM ---------- Previous post was at 10:34 AM ----------



      Do not think in that way mate as a stop loss of even 1000pips may come up with small limited risk than the one with 100pips below but the truth is every forex trader has a unique attribute and prowess to view and trade the same market under normal circumstances and conditions.
      Quote Originally Posted by kammraz View Post
      Actually the stop loss is even higher. 80-100 pips below previous low. So I take the liberty of looking at the chart and actually the stop loss is around 140 pips?

      At the end of the day it will depend on his winning percentage and frequency of his trade. Anything above 51% per 100 trade will make him be in profit. But this trading using daily candlestick though.

      Let us see how it goes for now. I believe thread starter will appreciate any good input from us as well.
      Actually the main reason for starting with such high stop loss is because of the timeframe i am using (daily) and with the fact that this strategy is a swing trade strategy which may last for days or even weeks.

      Quote Originally Posted by NikitaBelle View Post
      Welcome to the journal section debren!

      You got one of my favorite indicator Stochastic, interesting! It's a simple indicator that always misunderstood, anyways, let see how you can make profitable trades out of it and your other indicators combination as well.

      I wish you success in your journal and in your trading in general!
      Cheers!



      P.S. As per section rules, please add your journal to your signature. There is a cool step by step instruction below on how to do it in case you don't know...please check it out.

      Section Rules
      Thank you. I will soon add my journal to my signature.

      Quote Originally Posted by Black Mamba View Post
      Welcome mate i am really excites to see how you would make profit out of this strategy, i have used this strategy for some time and let me remind you this is a very good strategy.
      Really excited to see some charts here hope you will be posting them soon
      Thank you for this encouraging comments. So i will be counting on your useful input in making this strategy better.

      Quote Originally Posted by FlyingShark View Post
      Hi debren, I believe that you are watching well your charts, but your entry is lagging and let's have the same example, USDCAD in this case. We all know fundamentals and that when a currency is in the condition of the last pair mentioned then we avoid buying it like, hell. Also, if I wanted, so desperate and had the best good feeling that UC is going up then I would made my entry lower, because for this pair it's very hard now to move 200 pips, I would spare 50 pips only.
      Observation is well noted.

    19. The following 5 users say Thank You to debren for this useful post.

      Black Mamba (09-23-2017), dzin4aans (09-22-2017), FlyingShark (09-23-2017), PhAnToMtRaDeR79 (09-25-2017), zahid4x (09-22-2017)

    20. <a href=""> </a>
    21. #10
      Moderator
      I am:
      Relaxed
       
      dzin4aans has a reputation beyond repute dzin4aans has a reputation beyond repute dzin4aans has a reputation beyond repute dzin4aans has a reputation beyond repute dzin4aans has a reputation beyond repute dzin4aans has a reputation beyond repute dzin4aans has a reputation beyond repute dzin4aans has a reputation beyond repute dzin4aans has a reputation beyond repute dzin4aans has a reputation beyond repute dzin4aans has a reputation beyond repute dzin4aans's Avatar
      Posts
      15,375
      Thanks
      42,514
      Thanked 18,491 Times in 4,421 Posts

      Default

      Welcome to Trading Journal section debren I am happy that you have joined us here and definitely looking forward to your journey in your journal. I wish you good luck, green trades and green pips that result in awesome profits

    22. The following 5 users say Thank You to dzin4aans for this useful post.

      adewale (09-22-2017), Black Mamba (09-23-2017), debren (09-23-2017), PhAnToMtRaDeR79 (09-25-2017), zahid4x (09-22-2017)

    Reply to Thread
    Page 1 of 22 1 2 3 6 ... LastLast

    Posting Permissions

    • You may not post new threads
    • You may not post replies
    • You may not post attachments
    • You may not edit your posts