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Craig Harris Stochastics Method

  • #1,041
  • Feb 6, 2010 11:26pm Feb 6, 2010 11:26pm
It works well with the daily, E!

I have come across another version Lindencourt. Same five candle reversal and support from Stochs.

The writer does not claim to have invented it, says he thinks that people will notice it for themselves.

Like all of them he then adds indicators, CCI etc. Uses a 100 SMA for the trend. This, of course gets him into some bad trades because he then says above 100 buy and below, sell.

The swings are independant of the 'big' trend and half are against the trend. Trading with the trend is likely to be more productive. Swings with the trade are generally longer.

I understand why purveyors of systems find the need to make it mysterious with fancy channels, fractals and S/R nonsense, that is to attract the unknowing - reminds me of the song from 'Chicargo' Razzel Dazzel Them. but why people cannot see that this is a basic PA system is beyond me.

A six month chart is shown with all the trades that he took. I attach it. (It was too big. I will make it a .gif and return)

Kolin
Attached Image (click to enlarge)
Click to Enlarge Name: daily.gif Size: 134 KB
  • #1,042
  • Feb 7, 2010 12:30am Feb 7, 2010 12:30am
Hey all been busy this week end. Took +70 on Friday but only one was a ch method iposted for +20...the thread im sure will drag along...the method is pretty cut and dry but if there is questions Im sure someone would be happy to answer them...
Attached Image (click to enlarge)
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  • #1,043
  • Feb 7, 2010 1:14am Feb 7, 2010 1:14am
Can someone clarify for me how long the Tokyo Channel spans? Is it always a 9-hour-long channel from Wellington open to midnight NY time? Wellington opens 4 hours before Tokyo, so this channel just arbitrarily closes in the middle of the Tokyo session?
I'm seeing in the videos that Harris visualizes it starting at the market open at his black vertical dashed line, but this seems to be incorrect as the green NY line is only 6 hours later.
I understand the time conversion and broker time display on MT4 (which I see has been discussed before), I just want to make sure the 6-hour span in the videos is a mistake.
Thanks.
  • #1,044
  • Feb 7, 2010 2:14am Feb 7, 2010 2:14am
Quoting HLass
Hi everyone,

You will all have to excuse me, I am in the middle of this write up, and I dont just want to finish it sort of half-assed, I have been busy this weekend as my dog is having medical issues and well he is family, I know this sounds stupid like a excuse, and some will say that, but it will be just another day or so, most of you know, that I do as I say I will do, but my dog is sick and well he is definitely more important than a write-up, please be patient with me, it will be here soon enough, for those that understand, thank you very...
Family first HLass. That's one of the great benefits that trading can give you, you can put the important things first.

May be it would be good for those who are interested in hearing your methods to do some study and write up what they think your BB entries should look like. For those that do it, i'm sure it would be more beneficial to them in the long run. There is nothing quite like working this stuff out by yourself. It will highlight very quickly the type of trades one should and shouldn't take.

Only a suggestion It would also keep the thread going
  • #1,045
  • Feb 7, 2010 3:57am Feb 7, 2010 3:57am
that pets are family. Hope your dog will be well soon. I look forward to your post on BB but I am patient enough to wait. Take care of what is truly most important in life....
  • #1,046
  • Feb 7, 2010 9:48am Feb 7, 2010 9:48am
Hi All,
Thought I'd throw together a trade set up with what is being discussed with the CH approach to Price Action. This occurred after NFP this last Friday. I was at work, so did not trade it.
The 1st chart is for overview of the trading day.

The 2nd chart dissects the setup using Craig Harris' Stoch's and TDI per eelfranz the thread's originator. Notice consolidation of PA while Stoch's and TDI are flat causing no trade to be taken.

The 3rd chart shows a set of BB's added set to default, 20.
Notice the narrowing during NFP and then the break of the lower BB.
I'll wait on HLass to explain how he would play this setup.

A descending wedge, trading in the direction of the trend of the moment complete the reason to trigger a trade for me.
If you trade against the trend then just set a tighter stop and and take profit a bit sooner.

Hope all have a great weekend and look forward HLass' BB write up and continued in put from Piptalk, eelfranz, bpips, Neo and others.
Trade well.
Cliff
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Context1 GBPUSD.gif Size: 83 KB
Click to Enlarge Name: Context2 GBPUSD.gif Size: 85 KB
Click to Enlarge Name: Context3 GBPUSD.gif Size: 91 KB
I get exercise just pushing my luck
  • #1,047
  • Feb 7, 2010 11:16am Feb 7, 2010 11:16am
Hi all,

CCE, some excellent stuff you have here and I am sure it will help the new people to the thread as well as people that have been here for a while, very nice explanation to everything in the process to the CH trade.

Thank you all for understanding about the delay of the write up, good thing I make some decent money from this 4x stuff, as I spent over 200 bucks for the medicine for my dog, who is doing a bit better one day after, medicine is certainly a miracle, as the pooch is feeling better, so stress is down a bit, thank you all for your thoughts, I really appreciate it.

I was going to make a comment or three about the 3rd chart that cce placed with the bollinger bands, but I think even though it is pretty obvious looking, I rather do the full write up so as not to give a piece here and there, which might confuse more than help. I am pretty sure, god-willing, I can finish this write up properly and have it here in the next few days, and it will be full and understanding, not piecemeal, and I believe that will help everyone here as far as even better entries into our trades. Again, thank you very much everyone for your understanding, and your patience is very much appreciated and will be rewarded greatly with a great educational write up that might change some of your trading forever.
hlass
  • #1,048
  • Feb 7, 2010 1:28pm Feb 7, 2010 1:28pm
Quoting HLass
Hi all,

CCE, some excellent stuff you have here and I am sure it will help the new people to the thread as well as people that have been here for a while, very nice explanation to everything in the process to the CH trade.

Thank you all for understanding about the delay of the write up, good thing I make some decent money from this 4x stuff, as I spent over 200 bucks for the medicine for my dog, who is doing a bit better one day after, medicine is certainly a miracle, as the pooch is feeling better, so stress is down a bit, thank you all for...
  • #1,049
  • Feb 7, 2010 7:45pm Feb 7, 2010 7:45pm
Quoting agent6488
Can someone clarify for me how long the Tokyo Channel spans? Is it always a 9-hour-long channel from Wellington open to midnight NY time? Wellington opens 4 hours before Tokyo, so this channel just arbitrarily closes in the middle of the Tokyo session?
I'm seeing in the videos that Harris visualizes it starting at the market open at his black vertical dashed line, but this seems to be incorrect as the green NY line is only 6 hours later.
I understand the time conversion and broker time display on MT4 (which I see has been discussed before), I...
Hi Agent6488.
Don't focus on the minutia of exactly when it starts and stops but get an understanding of what it is about, what is the drive behind it.

The so called TC is simply an area or a time during which there is less opportunity to trade the swings because there is generaly a smaller range.

The important thing is the trading range.

"Don't trade before there is a 40 pip range..." is his watchword.

If we had a very strange day and we still had only a 30 pip range when NY opened then you still don't trade. Not that it is likely to happen

After NY closes there is a relativly quiet session, the Asian session!
When Tokyo closes and Europe starts, marking the end of the Asian Session, then there is so much more volatility in the market.

Phil Newton has a system for the breakout of the Asian session at the London opening. Google him and you will get a better appreciation of it all.

If you are concerned about the range providing S/R for the rest of the day then make your cut off is with Frankfurt opening.

Excuse the lecture and I hope that this helps.

Kolin
  • #1,050
  • Feb 8, 2010 12:20am Feb 8, 2010 12:20am
Here is today's Asian Session to 0600 GMT
Just reached 42 pips as I took the picture.

If you have to trade Asian then there were a couple of good moves early on but for the rest of the time one would have to work for 'tens'.

Just look at the price action and the S/R lines, ignore the rest it is from Profit Launcher, a very similar idea.

Kolin
Attached Image (click to enlarge)
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  • #1,051
  • Feb 8, 2010 5:13am Feb 8, 2010 5:13am
Just wanted to share these pics of my 2 trades today. These 2 trades along with a smaller EU trade gave me my day's quota. I had to exercise a bit of patience for the right setup to present itself clearly. FWIW, my main weaknesses that result in losing trades are these:

 

  1. Impulse entries (not patiently waiting for the safest entry possible)...entering too fast before getting full confirmation what kind of trend we're in, or if we're near S/R, or at the top of a channel, or the bottom of a channel, etc.
  2. Not setting SL'es...which turns losing trades into HUGE losing trades.

Best Regards,
Neo

Attached Image(s) (click to enlarge)
Click to Enlarge Name: gu.gif Size: 35 KB
Click to Enlarge Name: ej.gif Size: 30 KB
Sentiment: Short on cash. Long on hope.
  • #1,052
  • Feb 8, 2010 7:16am Feb 8, 2010 7:16am
Thanks Kolvekal. I just wanted to start it at the right time. I looked over some of the CH videos and some posts Neo had on the topic, and it looks like I have it set up right, beginning at Wellington before MT4's start line and going to NY midnight. I will look up some more info as you suggested.
  • #1,053
  • Feb 8, 2010 3:45pm Feb 8, 2010 3:45pm
Kolin.... well said... thanks. Big E
  • #1,054
  • Feb 8, 2010 5:58pm Feb 8, 2010 5:58pm
Hi Guys,

I've been reading this thread and loved it.

I have an EA that makes trading so easy - AND INVISIBLE TO BROKERS...

Just save it under experts folder.

I have set ctrl+E as hotkey .. so it's easy to run.

After you ran the EA ... place horisontal line where you want to trade and call it:
ss - for sellstop
sl - for selllimit
bs - for buystop
bl - for buylimit.

It stay invisible until trade ... and then keep stoploss and takeprofit invisible as horisontal lines.

Enjoy
ECFOREX
Attached File(s)
File Type: ex4 EASY.ex4   10 KB | 750 downloads
I Love Pips - Lots of Pips
  • #1,055
  • Feb 9, 2010 12:26pm Feb 9, 2010 12:26pm
Quoting ecforex
Hi Guys,

I've been reading this thread and loved it.

I have an EA that makes trading so easy - AND INVISIBLE TO BROKERS...

Just save it under experts folder.

I have set ctrl+E as hotkey .. so it's easy to run.

After you ran the EA ... place horisontal line where you want to trade and call it:
ss - for sellstop
sl - for selllimit
bs - for buystop
bl - for buylimit.

It stay invisible until trade ... and then keep stoploss and takeprofit invisible as horisontal lines.

Enjoy
ECFOREX
Hi,sorry but can you tell me the purpose of it.All it does is put a 10 point stop in and a 20 profit target,or am i doing something wrong?
  • #1,056
  • Feb 9, 2010 6:21pm Feb 9, 2010 6:21pm
Hi All,
Took 3 GBPUSD trades short today. First 2 were CH rules for 26 +pips and the 3rd trade was short from a 15m Pin Bar and bounce down from a Big Number
at 1.5720 for 32 +pips.
Also, took a short trade on the AUDUSD per CH rules on the 15m, has not hit my SL set above .8800 yet, so am still in it.
That being said, after looking more carefully at it from the Daily and Weekly TF's, I may just leave this short in place and let it run.
All depends on how Gold does at the moment.
Good trades to all.
Cliff
Attached Image (click to enlarge)
Click to Enlarge Name: 3gbpusd.gif Size: 39 KB
I get exercise just pushing my luck
  • #1,057
  • Feb 10, 2010 12:55am Feb 10, 2010 12:55am
Quoting podgy
Hi,sorry but can you tell me the purpose of it.All it does is put a 10 point stop in and a 20 profit target,or am i doing something wrong?
It Places a stop order on the horisontal line .. and sl an tp horisontal lines .. all invissible to the brokers ...

So when price reach stop order it executes the order and keep sl and tp invissible.

Real magic

ECFOREX
I Love Pips - Lots of Pips
  • #1,058
  • Feb 10, 2010 2:20pm Feb 10, 2010 2:20pm
Hi HLass,is there any chance your bollinger write-up will be out soon?so looking forward to it.P
  • #1,059
  • Feb 10, 2010 7:11pm Feb 10, 2010 7:11pm
Quoting podgy
Hi HLass,is there any chance your bollinger write-up will be out soon?so looking forward to it.P
Hi,

I Have been so very busy, but I will promise to have it posted here no later than this weekend, I know I said that last week, but I had issues with my dog as you know, he is doing much better which is great, but anyway, it will be posted for all to learn from and how to use bollinger bands the proper way, take care.
hlass
  • #1,060
  • Feb 10, 2010 8:30pm Feb 10, 2010 8:30pm
You take your time Hlass, you are under no obligation here, much as we are all straining at the leash....

Don't keep giving the date lines. Try .... I will post it when it is done!!

Kolin
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