In this video post, I share with you 3 things..
1. What are the stochastic indicators?
2. How you can use it in a trending market?
3. 3 tips on entries and exits
How to use stochastic indicators?
I hope you have enjoyed this video post about stochastic indicators. As always, comments are welcomed and encouraged. Cheers!
this set up was first presented on Babypips back in 2009 on a popular series of threads & also on a thread of the same title on Forex Strategies-revealed around the same time.
I’ve been using it successfully for the past 4 years.
Great to hear you are having success with it.
Most traders usually use stochastic in a range markets, but in a trending market it can be useful too.
I’ve seen this strategy recently on a trading website. It looks quite positive judging by those using it.
Did you see it on a website somewhere Rayner?
I didn’t come up with this approach for looking at Stochastics. I saw it somewhere before but i can’t remember from which article or video.
But it’s not an exact strategy per se as there are other elements that you have to consider as well.
What would be the setting for the stochastic indicator
The default settings i believe are usually 5 or 14
Hi Rayner. I was wondering if u trade non USD pairs such as GBPAUD?
Is there an “advantage” trading these over USD pairs as the NFP and FOMC announcements can cause the USD to whiplash
I do trade them if for example GBPAUD is in a nicer trend compared to GBPUSD.
News don’t really affect me much because my stop loss are usually based on my entry time frame. Either the 4 hour or daily and it can usually accommodate the whipsaw.
Hope that helps!
Hi Rayn 🙂
Finally I know how to use in this indicator 🙂
Thank you very much!
Glad to hear that, Shlomi.
I hope you find it useful!