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Craig Harris Stochastics Method

  • #321
  • Jan 4, 2010 12:49pm Jan 4, 2010 12:49pm
Big E,,,,When you get a chance,,,Maybe post a few chart setups for your breakout strategy regarding the opening of the London and NY,,,,,,thx
  • #322
  • Jan 4, 2010 2:18pm Jan 4, 2010 2:18pm
Great trades. Still working a day job? Keep this up and you won't be!
  • #323
  • Jan 4, 2010 2:43pm Jan 4, 2010 2:43pm
Thanks,,,,,,,,,,,,,,,,,http://cdn.forexfactory.com/images/icons/icon7.gif
  • #324
  • Edited 3:56pm Jan 4, 2010 3:31pm | Edited 3:56pm
PipTalk said: "Big E,,,,When you get a chance,,,Maybe post a few chart setups for your breakout strategy regarding the opening of the London and NY,,,,,,thx"

Hummm... Breakout Strategy? Well, I find that at most Market Opens (or close to it) a reversal takes place. As you know, nothing is 100% in the forex.

Look at the time and PA for the E/U last night. Beautiful! Could have taken today off with that run.

Remember that CH said that after a long run how the market poops out? Well... look at it now. Almost flat. It just about ran it's daily ADR average last night. See the 15 minute chart below.
I use CH's method for reversals and note the BN's when in the trades.

The E/U is my most favorite pair to trade... always. I listened to it breathe for two years while studying and now we're one and think the same... like knowing anothers thoughts before they speak the words. Love the low 2 pip spread too.


By the way... I was doing some research this morning on the A/J and it looks pretty promising on the 1 hour chart where you get longer swings to off set the 5 pip spread I have.

Please don't forget that the 1 hour chart is my own personal preferance to trade on. The Heiken Ashi candles also run smoother on that higher timeframe than on the 15 minute.

You can always get into a trade later at nite in your part of the world. Always use a S/L. You can add a trailing stop and go to bed... and trade the market as you sleep.

Often I let the trade gain 12-15 pips, move my S/L up to break even (or BE + the spread) and let the trailing stop & S/L watch my trade and go to bed... Knowing the N.Y. Open is only 5 hours away and I want to trade it too.
  • #325
  • Edited 4:44pm Jan 4, 2010 3:37pm | Edited 4:44pm
Yep... Perfect CH trade set-up... London Open.
Attached Image (click to enlarge)
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  • #326
  • Jan 4, 2010 4:08pm Jan 4, 2010 4:08pm
Hello All, Great thread!

Curious if anyone is using the MA's like CH is using them on his 15M chart?

Thx!
It's Easy To Get In;.. It's Hard To Get Out
  • #327
  • Jan 4, 2010 4:12pm Jan 4, 2010 4:12pm
Same chart different lesson. Look at the magenta crosshairs. At that point the Tokyo Channel is already 45 pips. It was 5pm Pacific time at that point. After the crosshair... there were about 100 pips of profit in those swings prior to the London Open 7 hours later.
Attached Image (click to enlarge)
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  • #328
  • Jan 4, 2010 4:34pm Jan 4, 2010 4:34pm
Great charts, Big E. FXDD time is 2 hours ahead of GMT, right? Does that mean that we should shift the Tokyo Channel by 2 hours to get the correct reading?
Sentiment: Short on cash. Long on hope.
  • #329
  • Jan 4, 2010 4:51pm Jan 4, 2010 4:51pm
John D... Welcome aboard...

In a previous post about half way back someone asked the same question... Same answer.

Craig does not share that information except with his subscription students. If you know the answer... your welcome to share it here... meanwhile, read the thread from it's beginning please.
  • #330
  • Jan 4, 2010 4:54pm Jan 4, 2010 4:54pm
NeoRio...

According to FXDD their charts are GMT +2 hours.

The Tokyo Channel on my FXDD charts runs from it's daily update (2pm Pacific Time) to the open of the London Sesson (midnight my time). You've seen the videos... they answer your question. That's why I recommend watching the short videos many, many times... always learning something new.

Just compare your time zone to the Pacific Time zone using the times I listed and you'll have your answer.
  • #331
  • Jan 4, 2010 4:56pm Jan 4, 2010 4:56pm
Quoting piptalk
Ok..For this week... First of all [b]keep it simple!!!! Dont worry about all the indicators!!.Its what I like about the CH method,,,,This is how I trade his system. Good ,Bad or Ugly!! Time frame 15 min,,Stay out 15 min before and 15 min after a news release,,.Look for swings in the 50 - 60 pip range or more,, Stoch os/ob ,,Wait for candle color...

It would be cool to see you post charts with your live trades. sounds like you got this better any of us so far. Would like to learn all i can.

Great work
bulls
Whats happening in EUR/USD should be happening to you!
  • #332
  • Jan 4, 2010 5:00pm Jan 4, 2010 5:00pm
Quoting eelfranz
Often I let the trade gain 12-15 pips, move my S/L up to break even (or BE + the spread) and let the trailing stop & S/L watch my trade and go to bed...
eel,

do you have a TS .mq4? I havent run across one yet and been lookin.

TY
bulls
Whats happening in EUR/USD should be happening to you!
  • #333
  • Jan 4, 2010 5:12pm Jan 4, 2010 5:12pm
Quoting eelfranz
According to FXDD their charts are GMT +2 hours. The Tokyo Channel on my FXDD charts runs from it's daily update (2pm Pacific Time)
I'm also in PST (California). Am I completely wrong to assume that the daily update for FXDD is 2 hours before the Tokyo session starts--so the Tokyo channel should be bumped up 2 hours later if using FXDD? I have FXDD and IBFX (and others) running on multiple monitors, IBFX is synced with GMT, so my Tokyo channel on IBFX is very different than the same on FXDD...unless I edit the settings in the Tokyo channel to start at 2:00 instead of 0:00 for FXDD.
Sentiment: Short on cash. Long on hope.
  • #334
  • Jan 4, 2010 5:22pm Jan 4, 2010 5:22pm
Thx Big E.

I'm going to try this because I'm having "h#$L" holding trades.....

Maybe trend candles will work.???

http://i46.tinypic.com/14muvsn.jpg
  • #335
  • Jan 4, 2010 5:38pm Jan 4, 2010 5:38pm
Big E,,,Thanks for the pics and explanation,,,,B&B ,,,Sure I will post a few setups as they occur,,,,thx
  • #336
  • Jan 4, 2010 5:56pm Jan 4, 2010 5:56pm
Compairing Stoch and TDI. Note how the TDI guides you thru this trade whereas if you were strictly following Stochastics you probably would have exited when green crossed down over red.
Attached Image (click to enlarge)
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  • #337
  • Jan 4, 2010 6:02pm Jan 4, 2010 6:02pm
Dear Mighty...

Hummm, interesting looking chart you have there. Are you talking about trading Craigs Method or?

Your charts are not set up correctly... Wrong Stochastics, no Tokyo channel, no BN's, no TDI, no, no, no.

I think your either on the wrong thread or you didn't bother reading the posts... not sure which.

It's your money I guess...
  • #338
  • Jan 4, 2010 6:03pm Jan 4, 2010 6:03pm
Quoting eelfranz
John D... Welcome aboard...

In a previous post about half way back someone asked the same question... Same answer.

Craig does not share that information except with his subscription students. If you know the answer... your welcome to share it here... meanwhile, read the thread from it's beginning please.

I beleive they are the 20, 50, & 240 plotted on the 15M. The 240 is basically the 60MA on the 1HR chart.

All possibly to help keep you with the current trend and re-entries on pull backs but I'm guessing here.

Trade to trade well.
JD
It's Easy To Get In;.. It's Hard To Get Out
  • #339
  • Jan 4, 2010 6:18pm Jan 4, 2010 6:18pm
NeoReo... Your beating a dead horse to death here. CH, you and me are in the Pacific time zone. You have been explained the times in an earlier post. If you know the time difference between FXDD & IBFX... adjust accordingly. Craigs video's say it all.

No more questions on that subject please. I've told you all I know on the subject and where to find the answers. If you still do not understand perhaps another thread member can explain it a different way.

Sorry I couldn't help you...
  • #340
  • Jan 4, 2010 6:19pm Jan 4, 2010 6:19pm
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

Quoting John D
Hello All, Great thread!

Curious if anyone is using the MA's like CH is using them on his 15M chart?

Thx!
Attached Image (click to enlarge)
Click to Enlarge Name: 34ma.gif Size: 60 KB
I get exercise just pushing my luck
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