Okane's Diary

Hi @Okane - firstly, great videos and summaries of your trades, showing that you walk the walk in terms of the (basic) strategies you talk about. Could you elaborate on what your bare minimum requirements are before making a trade? For example:

With the stochastic indicator, how many time periods do you look to be +80/-20 as a minimum to make you comfortable to take a trade?
Do you always combine the stochastics with your support/resist lines, or are there instances that occur 'between' s&r levels that you trade if there are other indicators that it is likely to succeed? EG the MA200 is touched or broken.
In your experience, how frequently do exceptionally good circumstances occur for a trade? EG 4 out of 5 stochastics align with a candle touching a s/r line? I know that there is always what is going on with the news that can affect how the price moves, and nothing is guaranteed, but in an average day/week/month or whatever time period you see as most useful, how many of these opportunities are you seeing? Based on some of your posts in this thread, this looks to be happening more than once a day, but I might be mistaken.

I won't lie - I'm pretty new to this, and personally I will see situations where maybe the 5, 15 and 30 minute stochastics are all overbough/sold, but this doesnt always seem to happen at a time when a support/resistance line will be touched (I have tried to place my lines in areas of support/resistance as you mention in your videos). And in the opposite way, a candle will hit my line, but maybe only 2 of the stochastics will be in agreement with the way I think I should trade. It hasn't been a disaster, but I would like to try and be more selective witht the trades I take if possible!

Appologies for the length of the post, and thanks in advance for any advice and pointers!

Okane said:

Took two trades simultaneously last night during Asian session.
Using currency correlation and standard price action I could tell
that USDJPY was going towards a resistance from which the price opened at the gap earlier
and also that EUR/USD would drop further below the support towards another support (also moving average 200 below)

My PC crashed that's why I only managed to save the results (printscreen) for one of the trades but both finished ITM
as you see on the charts.

Hi Okane. As I'm a relative noob, would you mind explaining what you mean by "opened at the gap"? Thanks

Okane said:

FrJackHackett said:

Okane said:

Took two trades simultaneously last night during Asian session.
Using currency correlation and standard price action I could tell
that USDJPY was going towards a resistance from which the price opened at the gap earlier
and also that EUR/USD would drop further below the support towards another support (also moving average 200 below)

My PC crashed that's why I only managed to save the results (printscreen) for one of the trades but both finished ITM
as you see on the charts.

Hi Okane. As I'm a relative noob, would you mind explaining what you mean by "opened at the gap"? Thanks

Sure, if you look at that USDJPY chart, you see the "gap" there is a distance between where price was last week and where it opened
on Monday! This is called a gap, usually happens after a holiday but not always. Because sellers/buyers open the market at a whole new
price than what it used to be when it closed before weekend. So again, look at that picture above, you see it's black to the left, other candles are far away- That's a gap.

Great, thanks! Nice and easy

Hi Okane,
Your trading skills is so good. Are you still trading with this strategy?

Thank you for your sharing!