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Craig Harris Stochastics Method

  • #81
  • Dec 14, 2009 8:03pm Dec 14, 2009 8:03pm
Quoting eelfranz
Magnum,

[font=Comic Sans MS][size=3][color=#0000ff]Well....
not a problem. I just wanted people to know that the indication can change on them. I used to use it for trading until I found the little bug. The way you are describing that you use it, it may not even be a problem for that method.

Definitely no argument from me on the system. It is well planned and detailed.

Sorry for the distraction, we now return you to your regularly scheduled programming.
  • #82
  • Dec 14, 2009 8:57pm Dec 14, 2009 8:57pm
Magnum... Thanks for the reply. I have always used it like I outlined above.

If others want to know how I read it for trading... Ask.

LawGirl, I'm sorry to hear about your 50 pip loss. That's why I personally use 6 for my S/L. I'll put up a chart below showing that trade. I don't understand why you were short at that time. You had two reversal candles from what I can see before the blast off.

Craigs Rules: He would have put in a pending trade at the top of that pin candle to go long. He would have been picked up on it's way up. I would have exited at the beginning of the pin bar from the short trade. I would have entered long on the small green candle.

How did you do it?
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  • #83
  • Dec 14, 2009 9:00pm Dec 14, 2009 9:00pm
2nd Image EDIT: This picture is worse... sorry...
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  • #84
  • Dec 14, 2009 9:35pm Dec 14, 2009 9:35pm
Just a heads up. Most of the big traders are unwinding there risk for the year and until the end of the year, the market is going to have less volume. ie. can lead to unpredicable swings. Just be aware.

Big E. Great system......thank you partner.
  • #85
  • Dec 14, 2009 9:57pm Dec 14, 2009 9:57pm
I have viewed the Tokyo Channel several times and Craig mentions the start of the Wellington New Zealand Session. This would be 15:00 hrs or 19:00 hrs GMT. ( The MT4 charts are plotted in GMT.) The next vertical line would be the NY midnight 0:00 or 4:00 Gmt. The Asian Indi plots from 0:00 to 8:00 Gmt. Is the MT4 indi a default setting? I have included a chart showing both plots of vertical lines to determine the Asian session and a time table.
Thanks Big E
Attached Image (click to enlarge)
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Attached File(s)
File Type: doc Time Table.doc   40 KB | 1,206 downloads
  • #86
  • Dec 14, 2009 11:01pm Dec 14, 2009 11:01pm
Quoting eelfranz
Magnum... Thanks for the reply. I have always used it like I outlined above.

If others want to know how I read it for trading... Ask.

[font=Comic Sans MS][size=3][color=#0000ff]LawGirl, I'm sorry to hear about your 50 pip loss. That's why I personally use 6 for my S/L. I'll put up a chart below showing that trade. I don't understand why you were short at that time. You had two reversal candles from what I can see before...
Thanks for the analysis. I actually was short from the 5:00 candle and did not have a profit target set when the Dubai news hit. I will tighten up my stops. I wasn't watching the pin candle closely enough but will from now own. Looks at first glance like pin candles indicate a pending reversal. Is that so? Thanks again. This is so helpful.
  • #87
  • Dec 14, 2009 11:22pm Dec 14, 2009 11:22pm
E-Money, Your right buddy. The big money players are either on vacation or getting ready to call it quits for the year. Thanks for pointing that out.

PipCop - My chart is FXDD MT4 platform. 0.0 is the start of the new day (2PM PST my time).... 1900 is 9AM my time. Tokyo Channel starts on the new day and runs until 9PM my time which is midnight New York time.
  • #88
  • Dec 14, 2009 11:38pm Dec 14, 2009 11:38pm
Is there Fibonacci video?

----

GU might go to 1.6250 before London...would be nice....
The Market pays you to be disciplined
  • #89
  • Dec 15, 2009 1:57am Dec 15, 2009 1:57am
Quoting eelfranz
E-Money, Your right buddy. The big money players are either on vacation or getting ready to call it quits for the year. Thanks for pointing that out.

PipCop - My chart is FXDD MT4 platform. 0.0 is the start of the new day (2PM PST my time).... 1900 is 9AM my time. Tokyo Channel starts on the new day and runs until 9PM my time which is midnight New York time.
Tokyo Channel didn't make it over 40. That means no trading? Now what...
  • #90
  • Dec 15, 2009 3:23am Dec 15, 2009 3:23am
Second thing we do is check out our Tokyo Channel to make sure the spread is at least 40 pips or more from Hi to Low. If it's less than 40 pips we don't trade the chart until it is. Tokyo Channel starts at the beginning of the new day and runs until midnight New York time or until the Euro market opens.
  • #91
  • Dec 15, 2009 3:50am Dec 15, 2009 3:50am
Quoting mima
Is there Fibonacci video?

----

GU might go to 1.6250 before London...would be nice....

I think I attached a couple of pdf's that will show how to set up your fibs and an explanation of them. Hope this helps you.
Attached File(s)
File Type: pdf Practical Fibonacci Methods.pdf   431 KB | 3,081 downloads
File Type: pdf Fibo.pdf   237 KB | 3,133 downloads
  • #92
  • Dec 15, 2009 7:18am Dec 15, 2009 7:18am
Morning All, When the pair you trade doesn't reach 40+ pip's, find another pair that does as per his video.

Big E
  • #93
  • Dec 15, 2009 7:32am Dec 15, 2009 7:32am
Mima,

No seperate Fibs video. If you watched all of the videos you would remember Craig ONLY uses Fibs to find areas of consolidation for reversals.
  • #94
  • Dec 15, 2009 8:46am Dec 15, 2009 8:46am
Law Girl,

On the chart (G/U) I read 38 Pip's at the end of the Tokyo Channel. However 15 minutes later it was 40+ pips so it would be good to trade according to the rules.

Note all the long candle wicks. I would have have sold/exited with any 5 pip draw back as discussed earlier. It adds up to a lot of extra pips.
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  • #95
  • Dec 15, 2009 12:07pm Dec 15, 2009 12:07pm
There has been 3 nice profitable setups in the last 3 hours!,,,,Hope you guys caught them,,,,Im counting 60+ pips,,,,Thanks Big E!
  • #96
  • Dec 15, 2009 12:14pm Dec 15, 2009 12:14pm
Hi Piptalk, yes I'm in long now and doing well. Patience pays.

Thanks Big E--Your advise is very good. I have to learn to monitor more closely.
  • #97
  • Edited 6:20pm Dec 15, 2009 5:35pm | Edited 6:20pm

Rules


　

1. London Market Trading - GBP/USD - 15 Minute Chart

2. Print out News Calendar - No trades 30 minutes before or after news.
If your in a trade - either exit or really tighten stop Loss.

3. Use Fractals on your chart to visually see and measure swings.

4. Put Tokyo Channel on your Charts - - - 40+ pip spread hi/lo minimum before trading. *** Very Important.

5. Swings should average 20 to 40 pips or more.

6. Enter on second candle using top/bottom of first candle for entry level. Use Buy stop or Sell Stop orders.

7. Exit on big numbers of 00 or 10 or 20 or 35 or 50 or 65 or 80 or 90.
These numbers are your target levels.

8. Lost Trade - Re-enter on the next swing doubling your lot size.
If second trade loses go back to normal lot size.

Swings average 20 to 40 pips on 15 minute time frame. On other time frames the swing size will be different.

**Highest ODDS for profit is trading the EURO Open, London Open and N.Y. Open on the GBP/USD 15 minute chart. Generally it may vary 15 minutes either side of those times. Happens about 3-4 days a week. Longer swings. **

Always trade on a Demo Account when learning new information. Don't risk your trading funds without completely understanding this or others information... Demo trade only.


VIP - Watch all videos many, many times to remember all the information.
  • #98
  • Dec 15, 2009 5:36pm Dec 15, 2009 5:36pm
E, you mentioned in one of your posts that you prefer to use Heiken Ashi candles. Do you still apply the rules using the big numbers for entry on the 3rd candle after the reversal of the second candle. ( Big Numbers Entry Video ).
Thanks
  • #99
  • Dec 15, 2009 5:40pm Dec 15, 2009 5:40pm
We have been moved from the Discussion area to the Commercial area by Forex Factory. Reason Unknown.

Big E
  • #100
  • Dec 15, 2009 5:55pm Dec 15, 2009 5:55pm
Quoting eelfranz
We have been moved from the Discussion area to the Commercial area by Forex Factory. Reason Unknown.

Big E
They need to read post 1 and 6 to see that you are not promoting the system but only sharing this method. Who knows
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