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"Fast Track" Strategy

 
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JeffreyBHall

"Fast Track" Strategy

I have no trading background and want to learn things the Apiary way.  I'm trying to do the Fast Track trading strategy, but when I watch the discussion the indicators get loaded from a template and it happens so quickly I can't see how to set them up.  Is there a document somewhere that details all the indicators, what they're for, and how to set them up?  If not, I need to know how to set up a 50 period Simple Moving Average and a Stochastic (14,3,3).  Thank you.

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Sun, 01/24/2016 - 1:07pm
 
FXGold54

Jeffrey;

On the Alveo platform, click on the chart you want to place the indicator. Then on the dashboard click on insert (3rd from right),indicators and scroll down to sma. when the dialog box comes under settings, set the period to 50.

Do the same for the Stochastic, make sure you change the settings (D-period 14, K-period 3 and slowing 3)

I would then save the chart as template, so you can easily place it on other charts.

Hope that helps.

Allen

 
scottbchi

Also, if you watch some of the recorded Fast Track sessions, Todd covers the two indicators and how to use them - much success with your Trading.

 
JeffreyBHall

Thank you. I went back and watch the fast track video and took screen shots when Todd pulled up the indicators. I've got it now. Time to put it to use.

 
introforex

Question, how to use the ATR to determine a profit target and stop-loss? Fast Track strategy of course.

 
omegaknight87

to use the ATR as a stoploss, you are taking the value of the ATR and adding it (for a sell) or subtracting it (for a buy) to the price. If I am using ATR I usually use a 2 or 2.5 multiple of the ATR.

 
Trader-Gator

introforex: Be sure to use the ATR of the time frame you have identified an opportunity to make a trade.

 
kreppertmom

been using the fast track strategy to make trades, but also have added pivots to my charts to get a feel for them. Often, I notice a pivot occurs indicating time to sell, but the PA keeps going up. What does that mean?

 
kreppertmom

the stochastic is above 50 this time and the 50 SMA is pointed down, which would indicate selling, I'm looking at the usd/chf right now.

 
ForexEndeavors

dont forget all indicators are lagging. they show you where you have been not necessarily where you are going. support and resistance can be a good tool to help understand when the market moves up or down just where you can expect it to move to.
Stochastic works well in a ranging market but not so much in a hard trend.
Trading a hard trend or a hard range is easy. The hard part is knowing which market you are in.

 
Trader-Gator

Kreppertmom... Check me if I am correct in saying, in addition to your previous post, while the stochastic is above 50 ' it should be pointing down also?

 
briano

Kreppertmom,

I believe that when you are in a long position and you see a pivot showing that it is time to sell and the price action continues going up that the pivot point was wrong. Pivots probably use an algorithm that is based on historical price action statistics. If the pivots were correct 100% of the time then we could quickly become billionaires.

 
bigdszpotek

i am following what I learned in the fast track strategy. I found the ATR in the indicator list and changed the 10 to a 14. Then added it to my template. It created a third screen at the bottom with the ATR. Im not sure if thats correct? It seems that It may be the wrong set up. Please help when you can. Thank you.

 
lyallnz

Placed my first trade using this strategy.
Got stopped out then the trade went on to where it would have hit my take-profit.
The ATR indicated 5 pips stop loss. Would have been ok if I had made it 10 pips.
Oh well. It's just a demo account.

 
aik

Hi Allen,

I thought the Stochastic settings should be (D-period 3, K-period 14 and slowing 3)

 
FxSuperstar

On the Alveo platform, click on the chart you want to place the indicator. Then on the dashboard click on insert (3rd from right),indicators and scroll down to sma. when the dialog box comes under settings, set the period to 50.

Do the same for the Stochastic, make sure you change the settings (D-period 14, K-period 3 and slowing 3)

I would then save the chart as template, so you can easily place it on other charts.

Hope that helps.