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Craig Harris Stochastics Method

  • #401
  • Edited Jan 6, 2010 7:27am Jan 5, 2010 7:46pm | Edited Jan 6, 2010 7:27am
Here is a long trade on EJ 15m chart. I know where not supposed to trade during the asian session but this one was just to good to pass up. Yesterday was a down day and just before the end of the day price started to make another move down (purple lines). Price continued it's down move for about 40 pips. I was thinking we should get a retrace today after the 300 pip push down yesterday. The indicators look great for a long move and we get a candle that comes up and closes just about at the high of the bearish thrust candle. I got in @131.53 and out @131.90 the last swing high. To get +37 pips in the asian session is a great start to the day.
Attached Image (click to enlarge)
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  • #402
  • Jan 5, 2010 7:49pm Jan 5, 2010 7:49pm
I didn't know not to trade asian session? I thought after the tokyo channel was made of more than 40 pips it was ok to trade....

I took the same trade Ozzie but was in GU at the same time so just took +10...
  • #403
  • Jan 5, 2010 8:48pm Jan 5, 2010 8:48pm
@ NeoRio - Those HA or Average range candles or whatever Dean Malone calls his are for a purpose. One of which is to save you from false exits, they say.
Japenese Candle Sticks serve another purpose, as Pipstalk illustrates. It is my opinion that you cannot trade the CH system with HAs but must use the Japs. to see the reversal and select the trigger point. HA adherents may say otherwise.

Trading is about adapting what is there to your own needs.
If I want to see what the market is telling me then it is Jappos every time.

@bpips - Like the warning on the coffee, "this might be very hot", CH has come up with what I think is a sensible suggestion of waiting for a 40 pip range before trading Asian times.

He trades the London open so has no need to worry but for us living in the east, we need to take care.

The system we are discussing here is a short term swing trading design so we need range to be wide enough to give us some healthy sized swings.

Excuse the lecture, just trying to help

Kolin
  • #404
  • Jan 5, 2010 8:58pm Jan 5, 2010 8:58pm
Kolin,

Thanks for the insight. After tonight I see that the 40 pip rule is very valid no since to jump in until its time for a swing... Its great stuff I like simple rules to follow. I really like the rules that give me pips. LOL

Does anyone have any rules to trading GU during NY. Since I'm CST NY is my preferred session...Maybe an observation about this pair?
  • #405
  • Jan 5, 2010 11:48pm Jan 5, 2010 11:48pm
Here is a pretty cool indicator for you guys!,,,Its kinda like a scoreboard to keep track of your performance,,,Enjoy
Attached Image (click to enlarge)
Click to Enlarge Name: cool indicator.gif Size: 76 KB
Attached File(s)
File Type: ex4 i-Profittracker_[RU-EN].ex4   21 KB | 566 downloads
  • #406
  • Jan 5, 2010 11:50pm Jan 5, 2010 11:50pm
And the mq4
Attached File(s)
File Type: mq4 i-Profittracker_[RU-EN].mq4   17 KB | 642 downloads
  • #407
  • Jan 6, 2010 3:52am Jan 6, 2010 3:52am
19 pip trade during london. had to go to bed...

nevermind my gartlet indi. not part of this sytem, i just like it so much.

Got my chart setup on the sessions template.


bulls
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Whats happening in EUR/USD should be happening to you!
  • #408
  • Jan 6, 2010 4:10am Jan 6, 2010 4:10am
Does anyone have an indicator for BN on the craig harris strategy. Were is consistantly draws lines at the BN (00 20 50 80). Thanks.
KYSS - KEEP YOU SCREEN SIMPLE - GO WITH THE HEARD - TREND IS YOUR FRIEND
  • #409
  • Jan 6, 2010 4:48am Jan 6, 2010 4:48am
JUST cleared 33 pips short on gbp
  • #410
  • Edited 4:56am Jan 6, 2010 4:50am | Edited 4:56am
Quoting carlen68
Does anyone have an indicator for BN on the craig harris strategy. Were is consistantly draws lines at the BN (00 20 50 80). Thanks.
Google for 'sweet spots forex indi'

Kolin
  • #411
  • Jan 6, 2010 5:04am Jan 6, 2010 5:04am
Quoting Muppet
Hello, some posts ago mr.E said above to Kovekal.
can somebody post a chart were the reversal lines hooking down or up are visible for better understanding perhaps ? greetings, muppet
Hi Muppet, I asked the man himself about that. I said "...but they are not there until the bars are gone past."
He said that it was not the whole of the stoch only the angle at the point when you get the reversal or the confirmation candle.

I have a pic but will have to find it. In the meantime get a chart put the cross hairs over the reversal candle and check down to the stoch. Remember you have nothing to the right only what is there at that time.

Remember also that you will have a reversal, then a confirming, then a trigger candle. 12 - 1 and 6 - 4

HTH

Kolin
  • #412
  • Edited 5:42am Jan 6, 2010 5:14am | Edited 5:42am
Quoting Kolvekal
Hi Muppet, I have a pic but will have to find it. In the meantime get a chart put the cross hairs over the reversal candle and check down to the stoch. Remember you have nothing to the right only what is there at that time.HTH Kolin
OK Muppet, found the pic, ignore all the other bits only look at the CH stuff, the red lines are at the trigger. Ask if you want more info.

My view is, if the stochs are turning the right way we go. Not the official view but then we have to make these things our own. This suits me.

Don't bother with this pic. Use next post.
HTH

Kolin
Attached Image
  • #413
  • Jan 6, 2010 5:39am Jan 6, 2010 5:39am
try again
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  • #414
  • Jan 6, 2010 7:23am Jan 6, 2010 7:23am
Here is one version of the sweet spot indicator.
Attached File(s)
File Type: mq4 SDX-SweetSpots_v5.2 Psch.mq4   13 KB | 830 downloads
  • #415
  • Jan 6, 2010 7:31am Jan 6, 2010 7:31am
Quoting bpips
I didn't know not to trade asian session? I thought after the tokyo channel was made of more than 40 pips it was ok to trade....

I took the same trade Ozzie but was in GU at the same time so just took +10...
Hi bpips...

I think it's more that there needs to be at least a 40 pip swing made in the asian session before you consider trading. This will really depend on what time you define the asian session highs and lows. I just happened to see a 40 pip swing at the end of the down trend and it started to reverse with all the indicators in the right place.
  • #416
  • Jan 6, 2010 7:43am Jan 6, 2010 7:43am
Bpip... Concerning S/L: Craig uses 35 pip S/L as per his videos.

NeoRio... I think Craig normally uses the Jap. candles on his charts. I don't remember him talking about Heiken Ashi. As I previously posted... it's my candle of choice.
  • #417
  • Jan 6, 2010 8:25am Jan 6, 2010 8:25am
Quoting Kolvekal
Hi Muppet, I asked the man himself about that. I said "...but they are not there until the bars are gone past."
He said that it was not the whole of the stoch only the angle at the point when you get the reversal or the confirmation candle.

I have a pic but will have to find it. In the meantime get a chart put the cross hairs over the reversal candle and check down to the stoch. Remember you have nothing to the right only what is there at that time.

Remember also that you will have a reversal, then a confirming, then a trigger candle. 12 -...

Hello Kolin,

thank you for the info and chart. the chart and your explanation makes it for me easier to understand what was said.

greetings,

muppet
  • #418
  • Jan 6, 2010 8:26am Jan 6, 2010 8:26am
Again I want to thank all members who are helping the other traders... answering their questions.

Muppet... Sorry, I must have missed your question earlier.

As you have read... Everyone has tweeked Craigs method a little to fit their trading style. Use the Stochastics 8, 3, 3 and any other indicators you like... but take your signal/alignment off of Stochastics per Craigs rules.
  • #419
  • Jan 6, 2010 8:33am Jan 6, 2010 8:33am
Did anyone else catch those two beautiful moves last night on the G/U15 ? Easy money in the bank. Lose some sleep - make some money. London session makes it hard for the workin' man..
  • #420
  • Jan 6, 2010 8:37am Jan 6, 2010 8:37am
Quoting cce
Hey John,
I played around with some settings and found this to be pretty close...
34 LWMA, set to close...
Keep in mind, too, that CH uses the MA's like a dynamic line of S/R...
He takes note of PA when it nears his MA's...
I only use the shorter term one and do not employ the longer term MA he also uses...
Just a personal choice...no special reason...
Hope the pic helps you out...
Trade well...follow the Trend...
Cliff
hey, that's funny.
I've been using the 32LWMA for a while. (colored) It basically matches a 21ema.
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