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Craig Harris Stochastics Method

  • #241
  • Dec 30, 2009 4:50pm Dec 30, 2009 4:50pm
This was a time study to see when the next big move or swing would occur. With this pair I can start at 6:00, 9:00, 10:00. The moves repeat themselves around these times. This is my edge for the A/U


Quoting BullsAndBear
pipcop,


are these trades actually taken? i dont see entry and exit points. Not to seem like a cynical critic, but you can always go back and look at a swing and count the pips it made. Entering and exiting with said pips is a completely different story. Were you able to capatilize on any of these moves?

bulls
  • #242
  • Edited 7:08pm Dec 30, 2009 6:53pm | Edited 7:08pm
Quoting Walsanshu
Big E,
You shared an indicator awhile back that I'm trying. Don't understand the "reverse divergence" thing. Could you explain please. Wally
Hi Wally,
I did think that I would explain it all to you and find you a video to illustrate it. While I was doing that I came across one in Compassfx site that does an excellent job so, that is where to go.

It is the August 19 and 20 ones

While I was looking PipCop was doing. His post above shows the way.

HTH

Kolin
  • #243
  • Edited 7:19pm Dec 30, 2009 7:17pm | Edited 7:19pm
Quoting NeoRio
TDI: Is there a way to stop the TDI indicator from re-painting the yellow line when changing TFs? The yellow line is the only one that re-appears (after having taken it off) when you change the TF…and any color settings also revert back to the default settings. If there is no way to stop this, I suppose I could just leave one chart set to M15 at all times. Thanks in advance, Neo
If you are just trading one or two pair then making a screen with just them and a full set of TFs would be the easy way.
There are two other things that you could try:
Make a template with TDI set as you want it, save it. This may not work if it calls for the TDI each time.

Second, go into the MT4 editor, pull up the TDI, make 'yellow' to black, save it as TDI_Neo and use that, you should not see the yellow line.
Similar thing with line thicknesses.
If more explanation is needed just let me know.

HTH
  • #244
  • Dec 30, 2009 7:22pm Dec 30, 2009 7:22pm
Just had an e-mail from Compassfx with access to four recorded webinars.
  • #245
  • Edited 8:08pm Dec 30, 2009 7:36pm | Edited 8:08pm
Quoting Muppet
Here are some highlights & adjustments:

10. At the London close if Price Action is in the upper or lower quarter of the Tokyo Channel... look for retracements

Hello Mr. E, in this thread you have made a list with a 10 point highligts. i have taken point 10 from that list and would like to ask is it possible to have a chart with the explanation to understand this better perhaps ? greetings,
muppet
Hi Muppet,
this is one that you could do for yourself: Pull up a chart use the '+ -' buttons to reduce it so you get a full day move back to earlier days and look.

If you mark the size of the Asian Session using the line facility you should be able to see the day's movement in relation to the session.
I noticed that MrE has posted an Asian Session indicator that draws the lines for you.

Also see my post 225

HTH
Kolin
  • #246
  • Dec 30, 2009 8:02pm Dec 30, 2009 8:02pm
Quoting Kolvekal
Second, go into the MT4 editor, pull up the TDI, make 'yellow' to black, save it as TDI_Neo and use that, you should not see the yellow line.
That would be the best solution, but we weren't given the mq4 of the TDI, just the ex4.

Thanks for the other suggestions,
Neo
Sentiment: Short on cash. Long on hope.
  • #247
  • Dec 30, 2009 8:23pm Dec 30, 2009 8:23pm
Quoting lawgirl21
Have watched Craig's video titled "Sessions". I download the indicators that you so generously provided, but did not find that one.
Quoting eelfranz
That is one of the indicators he does not share. He spent over $5,000 on his custom indicators. He only makes them available to subscription students.
Hey LawGirl, I have an indicator that is somewhat inferior to the "sessions" indicator Craig uses, but in essence, it's really the same thing. I'll attach it here for you, it's called "tinysquare". I'll also attach a picture of it on my chart to show you how it looks. It only has 3 "sessions" available to use...but you can insert as many instances of the indicator on your chart as you want thus giving you the option to have as many sessions highlighted at once as you want. I used this indicator for several months when I was first starting out to help me get my bearings for which market I was in...and I really enjoyed it. Once I got the sessions down in my head (after months of staring at the same charts day after day), I realized I didn't need it anymore.

Best Regards,
Neo
Attached Image (click to enlarge)
Click to Enlarge Name: sessions.gif Size: 36 KB
Attached File(s)
File Type: mq4 tinysquare.mq4   4 KB | 1,063 downloads
Sentiment: Short on cash. Long on hope.
  • #248
  • Dec 30, 2009 9:02pm Dec 30, 2009 9:02pm
This should explain what Craig is talking about on retracements



Quoting Muppet
Here are some highlights & adjustments:

10. At the London close if Price Action is in the upper or lower quarter of the Tokyo Channel... look for retracements

Hello Mr. E,

in this thread you have made a list with a 10 point highligts.
i have taken point 10 from that list and would like to ask is it possible to have a chart with the explanation to understand this better perhaps ?

greetings,

muppet
Attached Image (click to enlarge)
Click to Enlarge Name: eurus.gif Size: 24 KB
  • #249
  • Dec 30, 2009 9:20pm Dec 30, 2009 9:20pm
Quoting PipCop
This was a time study to see when the next big move or swing would occur. With this pair I can start at 6:00, 9:00, 10:00. The moves repeat themselves around these times. This is my edge for the A/U

thanx for clarifying...
Whats happening in EUR/USD should be happening to you!
  • #250
  • Dec 30, 2009 9:37pm Dec 30, 2009 9:37pm
I found a handy tool that will show you how many pips that you need to earn every day to achieve your income goals for the year. Craig mentions 40 pips a day. Navigate to www.aboutcurrency.com click on tools and look for Forex Income Calculator. Check out the Advanced options also.
Enjoy
PC
  • #251
  • Edited 11:17pm Dec 30, 2009 11:16pm | Edited 11:17pm
Quoting NeoRio
That would be the best solution, but we weren't given the mq4 of the TDI, just the ex4.Thanks for the other suggestions,
Neo
Just like this. Of course, if you are using white as below then the black needs to be white.

Kolin
Attached Image (click to enlarge)
Click to Enlarge Name: tdi neo.gif Size: 38 KB
  • #252
  • Dec 31, 2009 12:34am Dec 31, 2009 12:34am
I realize these are rather noobie questions, but in looking over everyone's contributions and screen shots of trades taken, I wanted to clarify one or 2 things.

Since at the heart of Craig's method the goal is to trade out of consolidation and away from the most recent swing...I wanted to ask; is it necessary for the new candle (the reversal candle) to be a different color? In Craig's videos he says that the reversal candle(s) will be a different color...but I have seen several examples where the consolidation was formed by 2 or more candles of the same color.

Another question I have is about re-entries in a big move. Big E mentioned today that the big moves at the NY open had lots of pip opportunities...and of course, he was right, there were hundreds of pips even with just the GU and EU, but once the big move began, there were no new Fractals, or Fractal S/R lines/arrows being drawn (because the moves were so strong and there weren't any retraces on the way up), how would one re-enter if they had taken profit already at 20 or 30 pips?

I noticed that Big E does not have the fractals or the Fractal S/R indicators on his charts. Big E, how do you identify the swings?

TIA (thanks in advance),
Neo
Sentiment: Short on cash. Long on hope.
  • #253
  • Edited 1:11am Dec 31, 2009 12:57am | Edited 1:11am
FRACTALS

Hi Neo,

I seem not to have my thinking head on today. It was the mt4 that you didn't have and it would appear that I do have it. TDI is all over the internet in its full form I assume otherwise I don't know how I got it and you didn't. Is the screenshot what you want. If so I will post a link.

Fractals. With an indicator these only appear after the low or high is set and the price moved on. They are not needed, you can see when that has occured. In my opinion they teach you bad habits. Learn to see for yourself! That sounded a bit harsh but not intended.
The pattern may be called a three bar reversal or even a five bar reversal.
Look at your hand with the fingers closed. The middle finger is the lowest or highest according to whether your hand is pointed up or down.
Whichever, the middle is the extreme and the next fingers each side further from that extreme. The outside fingers even further away.
That pattern is the 'perfect' price bars may not be so well behaved but overall form that pattern.
It is a judgement call as to whether the point is made. CH works on the first reversal candle giving a warning, the trigger is when the following candle passes the end of the warning candle.
A bit of candle reading helps. Pin bars etc.

I can point you in the direction of some videos if you wish.

HTH

Kolin
  • #254
  • Dec 31, 2009 1:08am Dec 31, 2009 1:08am
Quoting NeoRio
I realize these are rather noobie questions, but in looking over everyone's contributions and screen shots of trades taken, I wanted to clarify one or 2 things.

Since at the heart of Craig's method the goal is to trade out of consolidation and away from the most recent swing...I wanted to ask; is it necessary for the new candle (the reversal candle) to be a different color?...
Another judgement call. A colour reverse say it plainly. We have changed.
Same colour but smaller candles says we are slowing down.

Price action dictates it all. Even if we have three same colours coming to the same price, it is the one that moves away from that price that has most meaning. It may continue and it may reverse. If it reverses it will change colour then we decide on our trigger.

Size has a lot to do with it generally.

Have a look at forex4noobes if I have spelt it right. On there Nick is talking about 4H charts and his version of the reversal. He shows the 'point' candle as same colour meaning less certain and different colour saying more certain although the candles are the same pattern.

HTH

Kolin
  • #255
  • Dec 31, 2009 1:10am Dec 31, 2009 1:10am
Quoting eelfranz
I Put my stop about 6-7 pips under/over the reversal candle
Big E, do you include the spread in those 6-7 pips (meaning 4 pips on the GU spread, plus 2-3?--or do you mean 6-7 pips PLUS spread--for a total of 10-11)?

TIA,
Neo
Sentiment: Short on cash. Long on hope.
  • #256
  • Edited 1:24am Dec 31, 2009 1:23am | Edited 1:24am
Quoting NeoRio
I realize these are rather noobie questions, but in looking over everyone's contributions and screen shots of trades taken, I wanted to clarify one or 2 things.

Another question I have is about re-entries in a big move....
I think that the answer here is that CH scheme is for 20 - 40 pips a day.

Going again is not included as far as I know. I have seen other teachers that say "If you have made enough pips today and you think that you would like to risk some then go in again"

My advice would be to try Stochs - it is probably over bought.
Look for S/R lines, look for pivot lines.

Compassfx has a load of videos showing how to target your trades.

A very unofficial answer would be to not take the original profit but to trail the trade maybe two bars back depending on their behavior. So long as you are far enough back you will protect your gain and gradually take a little more from the table. There are many SL schemes.

HTH

Kolin
  • #257
  • Dec 31, 2009 1:25am Dec 31, 2009 1:25am
Quoting Kolvekal
Hi Neo,

I seem not to have my thinking head on today. It was the mt4 that you didn't have and it would appear that I do have it.
Thank you kindly. If you have the mq4 for the TDI, I should be able to figure out how to set the colors so they stay the way I'd like them to.

Quoting Kolvekal
Fractals. With an indicator these only appear after the low or high is set and the price moved on. They are not needed, you can see when that has occured. In my opinion they teach you bad habits.
Yes, I'm sure you're right that reading the swings using candle formations is the best way to do it. I thought that the Fractal indicator draws itself when a candle's high or low exceeds the high or low of a given number of candles before it...kind of making it easy to know that we have a legit area of consolidation if not a reversal.

Quoting Kolvekal
CH works on the first reversal candle giving a warning, the trigger is when the following candle passes the end of the warning candle.
A bit of candle reading helps. Pin bars etc.

I can point you in the direction of some videos if you wish.
Sure, I'd appreciate the links to videos. I have Nison's Japanese Candlestick book which has helped me with PA a lot. Is Big E the only one here who dabbles with entering on the reversal pattern itself (first reversal candle) before waiting for the following candle to break the high/low?

Best Regards
Sentiment: Short on cash. Long on hope.
  • #258
  • Dec 31, 2009 1:36am Dec 31, 2009 1:36am
This is a link to Lance Beggs series of videos, 16 in all, the bullish and bearish reversals are particularly useful for use.

http://www.yourtradingcoach.com/Vide...ng-Videos.html

HTH

Kolin
  • #259
  • Dec 31, 2009 2:01am Dec 31, 2009 2:01am
Thank you to all who are helping others along the way. Each trader understands each situation according to their individual experience from trading the forex.

Unfortunately in this business one thing works for one person but not for another. The reason often times is experience.

I hope everyone here is learning new things along our journey here.
In this business the learning never ends.
  • #260
  • Edited 9:25am Dec 31, 2009 2:19am | Edited 9:25am
NeoRio....

My S/L is 6-7 pips period. No spread included. I don't worry about spreads until they are over 5 pips.

I normally only trade the E/U, A/U or G/U. Spreads are 2, 3.
4 pips on FXDD.
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