Best Indercator to use with Stocastics
Hi there,
Looking to use stochastic crossovers for entry points, and then have a strict stop loss in place.
What other indicator should be used to help confirm the entry point with the crossover?
The plan is to intraday swing trade.
Thanks
Ad nauseum black swan musing; " all strats 'work' even random ronnie robots, what makes the difference between success and failure is a healthy trading psyche and your money management
I never liked stochastics myself. But a confirming indicator should not be another oscillator. Use a trend indicator to confirm. May times a simple ma such as 20,50, or 100 will do the job. The best way to find out what works best for YOU is just do some experimentation.
Peter
For a while I used Macd/stoch/rsi.. Worked well for entries, there ain't nothing invented that'll tell you when to get out, not even psar which I use to move stop as trend develops not for much else.
I went back to the strat I mentioned and looked how it would have performed on a two hour time frame recently, worked very well back tested versus a couple of pairs, eur usd
eur jpy..
Setting for Macd standard, rsi 5, stoch 9 3 3....
Ad nauseum black swan musing; " all strats 'work' even random ronnie robots, what makes the difference between success and failure is a healthy trading psyche and your money management
Intraday swing?
You mean just intraday I guess. Stochastic cross is okay, have to be very very disciplined about exits though. Why don't you stick an sma 100 on an H1 chart and only look for shorts if below and longs if above using your stochastic cross. Also try setting your stoch to 14,3,3 for a more 'smoothed' line.
Like I say this is an okay strat but like everything... need to have serious discipline!
Why have i woke up naked and confused with clothes everywhere, i don't know what to ask to everyone
My memory is blank.... oh yeah stochastics
Intraday swing?
You mean just intraday I guess. Stochastic cross is okay, have to be very very disciplined about exits though. Why don't you stick an sma 100 on an H1 chart and only look for shorts if below and longs if above using your stochastic cross. Also try setting your stoch to 14,3,3 for a more 'smoothed' line.
Like I say this is an okay strat but like everything... need to have serious discipline!
Hello Doomberg,
What is the underlying comment you are suggesting?
For a while I used Macd/stoch/rsi.. Worked well for entries, there ain't nothing invented that'll tell you when to get out, not even psar which I use to move stop as trend develops not for much else.
I went back to the strat I mentioned and looked how it would have performed on a two hour time frame recently, worked very well back tested versus a couple of pairs, eur usd
eur jpy..
Setting for Macd standard, rsi 5, stoch 9 3 3....
Ad nauseum black swan musing; " all strats 'work' even random ronnie robots, what makes the difference between success and failure is a healthy trading psyche and your money management
I don't know tbh... all i know is that i just woke up naked with no memory, there is other peoples clothes dotted about my villa, but i have no idea
I may just walk in to the other rooms and say "hey everyone, shall i order a take away?"
Cos at the moment i have no other options really, i'd love to know what actually happened
Wow 9 3 3 is so much smoother, less trades less errors I guess.
Yeah, i've not been anally intruded (i don't think)... DashRipRock was not at my place today