They say market ranges most of the time. Some have even the percentage amount about the ranging market- 70%. How true is the percentage value, it's none of our business.

Simple and profitable trading style

The most interesting I have found out about Stochastic is that it can be used in a ranging/sideways market

Simple and profitable trading style

We cannot use it to fight strong trend. Don't even think of it

Simple and profitable trading style

Opposite is the case with oversold region. If it entered the oversold region, look for strong support. Failure to break it and has gradually left oversold, it has set itself for bullish movement, especially when there is bullish candles

Simple and profitable trading style

One of the interesting thing about the Stochastic trading is that it works even on ranging market. All we need do is that when it has got to overbought look for strong resistance. Failure to break it has already itself on the bearish movement

Simple and profitable trading style

Mr Stochastic can be rewarding. I will be sharing their setups right here

Simple and profitable trading style

I love the lesson I learned. But the mistake was not made on my CADCHF short and EURAUD long. Am still in the game on the pairs.

Simple and profitable trading style

I posted earlier about the mistake I made on USDCAD long. I wouldn't have been out by now. That's if using the stochastic on overbought/oversold. I have the blue mark where my SL ought to have been, below the support that was not broken when ...

Simple and profitable trading style

I also use the Stochastic to pick some pips on some pairs while riding on strong trend

Simple and profitable trading style

Am into trend trading/swing trading. I close when I see a reversal signal on exhausted/sideways on sideways market. I have example of the trend I have been in. It's currently retesting resistance. This is not a reversal signal

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The strong broken support, now resistance is being strongly retested.

Simple and profitable trading style

The mistake I said I made was failure to set the stop loss below the supports that were not broken on both the AUDNZD and USDCAD. I closed the two positions even when the SL was not triggered. It cost our position when we're too picky with SL size- ...

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Here is the broken support, now acting as the resistance- the blue mark

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NZDJPY is gradually going overbought. There is already a resistance at hand to be either broken or not. Even if it's not broken it may just be a retracement and not a reversal. This is because the trend is too strong on the three time frames

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While I continue to ride NZDJPY long trade am using Stochastic on overbought and oversold to collect few pips from the pairs that are not trending. It's good for ranging market

Simple and profitable trading style

The mistakes were made on USDCAD long and AUDNZD long

Simple and profitable trading style

I will be focusing on the Stochastic in addition to our main discussion here. It has been performing so well, though I made a mistake in my positions. I will share them later- the strategy, mistakes and the lesson(s) i have learned from using it.

Simple and profitable trading style

Few days to end of the month NZDJPY is not doing badly on the monthly TF, following a Doji candle on the previous month.

Simple and profitable trading style

I will be adding AUDNZD to EURCHF to be out of my way. Possibly strongly correlated currencies don't move as expected

Simple and profitable trading style

AUDNZD doesn't seem to be a good pair to trade. Any input/contribution on this pair is highly welcomed. I know that my mentor doesn't trade AUDUSD, EURCHF. I do not trade EURCHF- it doesn't performed even with great setup.

Simple and profitable trading style