Hi mate
I still like my candle sticks, but more and more these days i turn to HEIKEN ASHI CANDLES instead, cuts out the noise, makes the visual alot easier to read..........
This is a very simple strategy i use , if i am purely trading a blue chip stock, not that effective when trading penny stocks which has pertinent news flow incoming tho.........like ASN, CRR, LRS )
I dont day trade or scalp much, mainly due to work reasons, but that is my goal down the track, when i make enuff dough to renovate my house and have enuff kitty to walk away from my day job.
Take a look.........piss easy for the experienced trader or a newbie.
imo
Hi BEISHA, Hi all,
Thanks for that, very grateful for your effort on my behalf mate.
Hopefully, it's not necessary-but every little helps.
The love of my life is now back in Oz and we've been crying continuously (with laughter) for the last 10 days so my mood is much better.
As they say in Liverpool, she's as mad as a box of frogs.
I recall you posting about Heikin-Ashi maybe 6 months ago.
It resonated, as at the time I was a couple of months into the same conversion.
This is ongoing and I use it in much the same way as you do.
Cuts the noise as you say and allows one to remain in a trend with relative confidence.
Still love my Elder's divergences which works as well as ever on stocks..
H-A and the buy/sell signals on Elder's impulse system rarely conflict though I'm beginning to attach less importance to his blue candles as H-A is easier to read quickly.
The trading strategy outlined in your video is pretty much what I designed-just wish I'd used videos earlier as it would've made the journey faster.
Too bloody stubborn.
I use 13 & 26 EMA out of (old) habit, but it seems to me that anything under 30 and about double the faster EMA is fine.
With indices on 1 minute timeframes, I tend to stay in with a couple of opposite coloured candles if:
1. Price stays in a tight range i.e. is not reversing.
2. MACD-H (histogram) is not moving towards zero too rapidly and remains with the trend,
The moment MACD-H hits the zero line (almost always before ) I am out.
That's the general rule, but it seems more about experience- it's taken me a while.
On entry, if the MACD-H crosses at about the same time as the EMAs and is fairly steep, then I am more confident.
Indices can run very far very quickly so I use a guaranteed stop loss. GSL
IG does not allow you to trail this, so I move it in the direction of a successful running trade.
GSL 'cos I don't wanna get wiped out or lose most of my profits in the blink of an eye.
Works well on DAX and DOW but the time differences are sometimes inconvenient if you work.
Seems good on Nikkei but can't get my head around Hang Seng
Back to (small) profits.
Works well, just re-learning to run winners.
If you or anyone else wanna continue this here, all good with me.
Who knows, I may even post a chart.
Thanks again
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