Currency Trading (JCL)
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15 min GBPJPY
Hi Jordan,
What do you think of the following "plan"....
15 min GBP/JPY setup. Using stochastic (signal (red) and stoch line (blue)) as entry&exit signal.
Entry sell:
Stoch > 80 and signal crosses the stoch line.
Entry buy:
Stoch < 20 and signal crosses the stoch line.
Exit: (three possibilities)
a) with TP 140 pip (and SL70), ratio 1:2 (minimum)
b) stoch crosses again the signal line (as shown in JPG)
c) signal crosses 50
Within one day this would have produced a nice profit 3 times (although trading So evening is always a bit... tricky).
I need to see if this plan would work on more examples during the week.
Cheers,
Juergen
Stoch levels and Settings
[21:47:24] Nikos: just red the post...will have to think about it, my first reaction is to set the limits to 90 and 10 I think it is more secure
[21:53:55] jkapf: Nikos: good point... less trade opportunities but more likely not to hit SL...
[21:55:51] Nikos: also possibly try something like 19,3,3 in the stoch for 15