Stochastic Support and Resistance D1 Strategy – Part 8 | Trading Highlights

Top guide relevant with Online Forex Trading, Best Trading System, and How To Trade Stochastic, Stochastic Support and Resistance D1 Strategy – Part 8 | Trading Highlights.

STRATEGY
We’re going for a mix combo of technical and price structure in this one. Let’s start with our technical indicator, which is going to be the stochastic oscillator. We’re only going to be using the %K line (14 period input, 3 slowing input) so we’ve removed the %D line. We’ll be using the indicator in its traditional way looking for reversals due to burnt out momentum. Our levels will be quite stringent though as we set them to show a reading of 95 or above as overbought, and for or below for oversold. When the stochastic value is coming OUT of those levels, that’s a signal to enter a trade. So when price moves below 95 we will get the nod a sell trade, and coming above 5 will be for a buy trade.

It’s only a signal to us though so we’ll need to refer to our price structure before we go jumping into trades just based off of the stochastic. Our price structure will be support and resistance levels, nothing fancy about it. Once we get the stochastic signal we’ll measure out a ‘channel’ of price with two lines. One running at the high of price of the candle which gave the stochastic signal, and one from the low of that candle. With our channel we can then look on the daily timeframe at the past year of data, and we’ll pick out any closes of price inside the channel during that time. If there is a close in the channel where price then reverses (i.e. – to the same direction as our stochastic signal) with a close outside of the channel, we’ll treat that as confirmation of the move and we’ll enter either our buy or sell trade, respectively.

To keep our money managed, make sure that risk is low, we’ll measure out the distance of the channel (high to low of signal candle) and call that our risk ‘x’. That distance will cover a risk amount of 1% capital. All of our trades will have a stop loss at 1 times risk x. That means no trade should ever lose us more than 1% of our money. For the take profit we’ll have two different rules. For a signal where price has only bounced out of the channel to our favour once, then we’ll set the take profit at just 1 x reward, for a 1:1 ratio. If price has bounced out of the channel anymore than once, it will be a 2 x reward level for a 2:1 ratio. Finally, if we’re in a buy trade we’ll manually close the trade down if the stochastic shows an overbought reading, and same for a sell trade but instead if the stochastic shows as oversold. Lezz trade.

PART 1: https://www.youtube.com/watch?v=mwh6hlDnZdA
PART 2: https://www.youtube.com/watch?v=D9hu2tfn82E
PART 3: https://www.youtube.com/watch?v=8XUqw52FQJs
PART 4: https://www.youtube.com/watch?v=1vPBlH9lq6Q
PART 5: https://www.youtube.com/watch?v=7yXKRccSy4g
PART 6: https://www.youtube.com/watch?v=ARQuH4wLGFE
PART 7: https://www.youtube.com/watch?v=tgVopNvZHAM
PART 8: https://www.youtube.com/watch?v=FdTexAscZeE
PART 9: https://www.youtube.com/watch?v=ufTWpz2sm3c
PART 10: https://www.youtube.com/watch?v=8ya4Q71VJ6s

STOCHASTIC OSCILLATOR

https://www.investopedia.com/terms/s/stochasticoscillator.asp

SUPPORT & RESISTANCE

https://www.investopedia.com/trading/support-and-resistance-basics/

POSITION SIZE CALCULATOR
https://www.babypips.com/tools/position-size-calculator

TWITTER
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How To Trade Stochastic, Stochastic Support and Resistance D1 Strategy – Part 8 | Trading Highlights.

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The trade sold on a downturn in momentum after the very first high at the 80.0 level.

Stochastic Support and Resistance D1 Strategy – Part 8 | Trading Highlights, Explore interesting replays relevant with How To Trade Stochastic.

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They do this by getting the best responses to these million dollar questions. We do not have time to explain them here however there all easy to use and find out. It is likewise crucial that the trade is as detailed as possible.

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Tonight we are trading around 1.7330, our first region of resistance is in the 1,7380 variety, and a 2nd region around 1.7420. Strong assistance exits From 1.7310 to 1.7280 levels.

Discipline is the most vital part of Stochastic Trading. A trader needs to establish guidelines for their own selves and STICK to them. This is the vital key to a successful system and disciplining yourself to stick to the system is the initial step towards an effective trading.

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