Experiences from the DS HAS System(1).pdf

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My demo traded experience of
the:
Don Steinitz HAS System
April 23 rd , 2007
Written by:
WB
Disclaimer:
This document is to be used for entertainment purposes only. It is NOT intended to be a training
course for the Don Steintz HAS system, and is merely represented as some of my thoughts on the
system. All FOREX risks are assumed by the individual trader. FOREX trading is an extremely high
risk endeavor and should not be undertaken lightly. This document does not serve as, intend to, or
constitute appropriate experience to trade the FOREX market. This document is provided without
warranty of any kind.
Table of Contents
Setting up the system........................................................................................... 3
Metatrader Information.........................................................................................................................3
Working with the 5 minute chart........................................................................... 4
Is this opportunity real?........................................................................................ 6
How do I know when to exit the trade?................................................................ 7
The One Bar Exit...................................................................................................................................7
The Two Bar Exit..................................................................................................................................8
Trade Analysis – how did we do?......................................................................... 9
My experience of trading the Don Steinitz HAS System
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Setting up the system
My experience with the Don Steinitz HAS method (DS HAS) has been with the Metatrader
Platform, and I first learned about the method at the www.forex-tsd.com forum. Additional
information can be found at the www.forexfactory.com forum, although active discussion is
now taking place on the Forex-TSD website.
Also required is a FOREX broker that supports the Metatrader platform. There are literally
dozens, if not hundreds, of these companies and looking through the forums to find firms is a
way to discover one that others have used.
The Metatrader Platform runs on various versions of Microsoft Windows tm and is downloaded
to your personal computer. While using manual or automated trading with Metatrader you
must keep your computer on! Turning it off will remove your ability to trade and your positions
will be orphaned and subject to the vagaries of the market.
The DS HAS method requires the use of three indicators programmed for the Metatrader
platform, and these can be found in Post # 1 of the “Suggestions for Trading Systems” thread,
under the “Steinitz Method Revealed”. This thread is currently located here:
http://www.forex-tsd.com/suggestions-trading-systems/6911-steinitz-method-revealed-
If the above link is not functional you will have to perform a manual search as the content of
the forum could change at any time.
Metatrader Information
For more information regarding the Metatrader platform see http://www.metaquotes.net/
or your Broker of choice. Instructions about how to download the Metatrader Platform with
user guides, support, and so forth can be found here: http://www.metaquotes.net/download/
All Internet URLs were current at the time of writing but since I have no control over website
content they may change at any time.
My experience of trading the Don Steinitz HAS System
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Working with the 5 minute chart
I have found that the 5 minute chart is the smallest applicable time-frame for the DS HAS
system, and the most suitable for detecting rapid change in the value of the target currency.
Examples of my experiences with the system on the EUR/USD currency pair can be found
below. The system can be used on most any pair as far as I know, but as I am most familiar
with the EUR/USD pair that is what I'm currently using on my demo.
One of the benefits of the DS HAS system is it's simplicity, which can be seen from the charts
below. Few indicators are used, and interpretation of these indicators is quite straightforward.
A potential opportunity in the making!
My experience of trading the Don Steinitz HAS System
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The lowest red/blue dotted bar you see in the picture above is the MTF HAS 5 minute bar.
We are looking at this on a 5 minute chart so the 5 minute time-frame must be selected for
the chart while working with the M5 HAS bar. The M5 HAS bar has 3 bars above it which
represent the M15, M30, and 1 Hour time-frames. We will discuss these bars a little later.
Note: You may need to zoom in your word processor to see the chart better.
When the 5 minute indicator changes color it means that a trend is reversing. This is great
information because it allows us to position a possible trade early on as the new trend forms –
thereby giving us the best opportunity to maximize the PIPS we can gain from the trade.
Having secured a possible trade entry point we now need to determine if the trend reversal is
sustainable and will move the price enough for us to harvest some PIPS from it. Determining
whether a trade will be a good one or not is extremely difficult for inexperienced traders and
not at all easy for the “old gray beards”. Fortunately the DS HAS system helps us here as
described in the next section.
Side Note -
The DS HAS system described in this document relies completely on what is known as
technical analysis. Technical analysis suggests that it is possible to predict the future
behavior of a currency (or stock, commodity, etc.) by knowing it's behavior in the past.
This fascinating subject is hotly debated, and a wonderful subject for study. Try
searching for it on one the following sites: www.wikipedia.com and www.babypips.com
The technical analysis doctrine can be enhanced by employing what is known as
fundamental analysis. You could think of this as “doing your homework” on the subject
currency. Let's say there are world events impacting the Euro or US Dollar – how
might these events impact the value of the currency? A good news statement of
“reduced US unemployment” might strengthen the US Dollar for example.
Because the DS HAS system uses technical analysis as the core of it's decision making it
might not be necessary to combine it with fundamental analysis. Like everything else to
do with FOREX, and this document, you must make the journey and discover for
yourself!
My experience of trading the Don Steinitz HAS System
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