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Craig Harris Stochastics Method

  • #101
  • Dec 15, 2009 6:05pm Dec 15, 2009 6:05pm
PipCop,

Hey big guy, thanks for the question.

I only trade using Heiken Ashi candles. They run smoother, keeps you in the trade longer generally and creates less stress for the trader. Plain and to the point.

On the video Craig enters like: Lets suppose we are in a short trade. The market reverses so we are going to want to go long. Your reversal candle turned green. Since we want to go long Craig lets the complete first candle develop and close. His entry will be at the top of the first candle going long. He places a Buy Stop at that point on candle #1. When Candle #2 hits that area it takes you into the trade going long. Thats his policy and rules.

Below is an example chart...
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  • #102
  • Dec 15, 2009 6:10pm Dec 15, 2009 6:10pm
Quoting eelfranz
PipCop,

Hey big guy, thanks for the question.

I only trade using Heiken Ashi candles. They run smoother, keeps you in the trsde longer generally and creates less stress for the trader. Plain and to the point.

[font=Comic Sans MS][size=3][color=#0000ff]On the video Craig enters like: Lets suppose we are in a short trade. The market reverses...
Excellent Big E, That is what I figured.
Watching these videos over and over you do pick more and more information. Sent you and e-mail earlier today
Thanks PC
  • #103
  • Dec 15, 2009 6:27pm Dec 15, 2009 6:27pm
PipTalk,

It's fabulous that your making more and more pips daily using this information. Thanks for letting us know. Two thumbs up buddy.

Big E
  • #104
  • Dec 15, 2009 6:33pm Dec 15, 2009 6:33pm
Important Note: Immediately after you enter a trade: Right click on your trade in the box under your screen, Select Close Trade. When that box comes up slide it to the left side of your screen and put your arrow over the box to close the trade. If it starts to pull back or reverse on you... you can exit in a heart beat. It will save you many pips over the long run... Just a recommendation that pays!
  • #105
  • Dec 15, 2009 6:42pm Dec 15, 2009 6:42pm
hello Big E
nice method of trading i tried it today and got three winners 20-10-15 pips i like it so far.question-you said that you dont let the trade reverse on you and take you out on the oposite side of the candle so how do you manage your trades what are your stoplosses.

thanks

regards
  • #106
  • Dec 15, 2009 6:49pm Dec 15, 2009 6:49pm
Quick Note:

On the chart directly above: Note where the example trade is shown. Now follow it up on your Stochs and TDI indicators. Note how the Stoch crashes flat on top but the TDI takes you smoothly up until you reach the top. I often follow the red and green lines to find my exit area. Generally when it crosses I am in the next swing trade. On the stoch indicator your blind when it hits top or bottom but TDI continues to feed you information. I always use it.
  • #107
  • Dec 15, 2009 10:11pm Dec 15, 2009 10:11pm
Thanks Big E,,,I really appreaciate your no nonsense disciplined approach,,,Lets face it,,,If you want be consistantly profitable trading forex or any other asset class,,, you need take each trade very seriously and follow the rules of your trading method in a meticulous manner,,,I can see that this is a very profitable trading method,,,That is very exciting and gives the trader more confidence to achieve those hard earned profits,,,Again,,,Thanks for being so generous with your time and sharing your knowledge!!!
  • #108
  • Dec 16, 2009 2:52am Dec 16, 2009 2:52am
Anybody looking for setups now? I'm waiting for G/U to reverse and head back up.
  • #109
  • Dec 16, 2009 12:43pm Dec 16, 2009 12:43pm
Hello All,
Big E I will definitly respect your wishes on that.
I am in agreement with you on the 5min charts. Swings and candles are much smoother. The rules stay the same. I am a big fan also of the Heiken Ashi candles. The only problem I see with the TDI on repainting is the lines become thicker when you jump from one TF to another. Not an issue.
This is another bullet to add to your trading, looking for con/div.along with the fractals, TDI, and SS. this will help confirm the swing or reversal.
Attached Image (click to enlarge)
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  • #110
  • Dec 16, 2009 1:02pm Dec 16, 2009 1:02pm
Maklla,

Thanks for the question.

Let's suppose I'm in a trade long. The market is trending nicely. As I'm monitoring the candles and my TDI indicator I start to get the feeling the top is coming soon. Looking at the green line on the TDI going flat or maybe it's starting to hook over just a bit... I'm now starting to look for the candles which are going to have a long upper wick (caused by the bears wanting control)... when I start to see a candle starting to pull back... I use my cross hairs as a guage. On the 15 minute chart the crosshair is about 5 pips. When the candle pulls back about that much I exit the trade. At that time either I would re-enter a short trade or wait for the next candle to see what it's telling me. If the TDI has hooked over and the new candle is green... then I would enter short normally. It's rare you can pick the tops or bottoms.

When I enter a trade I will often wait a little bit before I enter my s/l. Once I see it going my way a pip or two I place my s/l. Usually 6 pips on my s/l.

The way I see it is if I get taken out once or twice it's only 6 to 12 pips total. I know I'm at the turn/reversal area already. I know I'll make up the small loss in the new swing. If I'm taken out I just re-enter with a single lot.

However, according to Craigs rules: If he is taken out of a trade he doubles his lot size on the next reversal trade. It's faster to make up any loss because of the double lot size.

I analyze each candle and the TDI while trading for the minor clues of what it's trying to tell me visually.

Hope that answers your question.
  • #111
  • Edited 3:51pm Dec 16, 2009 1:16pm | Edited 3:51pm
LawGirl - Normally I don't trade during the day. I'll trade the N.Y. open for an hour or two and then I stay out until the EURO opens.

The G/U had a tough time last night... no trades however the A/U was on fire. Did you catch that?

PipCop - Here is a site with over 1,000 Custom indicators, EA's, Expert Advisors, etc. Use at your own risk.
I have found some I like and use... http://codebase.mql4.com/page1 Good Luck
  • #112
  • Dec 16, 2009 1:34pm Dec 16, 2009 1:34pm
thanks for the reply and explanation.wich pairs do you trade if GU fails the 40 pips tokio channel?

regards
  • #113
  • Dec 16, 2009 1:47pm Dec 16, 2009 1:47pm
Quoting PipCop
Hello All,
Big E I will definitly respect your wishes on that.
I am in agreement with you on the 5min charts. Swings and candles are much smoother. The rules stay the same. I am a big fan also of the Heiken Ashi candles. The only problem I see with the TDI on repainting is the lines become thicker when you jump from one TF to another. Not an issue.
[size=3]This is another bullet to add to your trading, looking for con/div.along with the fractals, TDI, and SS. this will help confirm the...
Hi pipcorn what are those moving averages you have on your chart looks sensible.
LISTEN TO MR FUNDAMENTAL AND MR TECHNICAL
  • #114
  • Dec 16, 2009 3:31pm Dec 16, 2009 3:31pm
The correlation between these pairs is interesting to watch.
Should you be in a trade ie: long the EUR/US then take a short on the US/CHF and vice versa for a short on EUR go long on the CHF. The charts shown tell the story.

Happy Trading
PC
Attached Image(s) (click to enlarge)
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  • #115
  • Dec 16, 2009 5:14pm Dec 16, 2009 5:14pm
Here are a couple handy indicators . Big E
Attached File(s)
File Type: ex4 cc_Divergence.ex4   13 KB | 1,843 downloads
File Type: mq4 Grid10.mq4   4 KB | 1,539 downloads
File Type: ex4 Grid10.ex4   3 KB | 1,402 downloads
  • #116
  • Dec 16, 2009 5:18pm Dec 16, 2009 5:18pm
Maklla,

I usually only trade pairs that have a spread of 5 pips or less... guess I'm a tight wad !
  • #117
  • Dec 16, 2009 5:25pm Dec 16, 2009 5:25pm
PipCop -

I have done just that using E/U, G/U, A/U on top and USD/CHF on the bottom and having trades going on all pairs at the same time. You either win big or lose big... lol. Do that when scalping sometimes and pick up a quick 40 pips normally before I bail out.
  • #118
  • Dec 16, 2009 6:03pm Dec 16, 2009 6:03pm
Quoting okehiedon
Hi pipcorn what are those moving averages you have on your chart looks sensible.
The indicator is not required for this method but you are welcome to have it. These are the settings that I have used 8/.9 and 11/.7
Attached File(s)
File Type: mq4 T3.mq4   2 KB | 1,214 downloads
  • #119
  • Dec 16, 2009 6:10pm Dec 16, 2009 6:10pm
Quoting eelfranz
Here are a couple handy indicators . Big E
When it comes to progamming I am lost. What is the difference between the two mq4 and ex4. I only need to use one of these, correct, which one is preferred.

Thanks
PC
  • #120
  • Dec 16, 2009 11:55pm Dec 16, 2009 11:55pm
Quoting PipCop
When it comes to progamming I am lost. What is the difference between the two mq4 and ex4. I only need to use one of these, correct, which one is preferred.

Thanks
PC
Hi PC,

You can use either one. The mq4 is the uncompiled source code and the ex4 is the compiled executable.

If you're not going to alter the source code, just put the ex4 in the experts indicators folder, restart MT, and pick it off the custom indicators list.

Hope this helps.

JR
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