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Craig Harris Stochastics Method

  • #1,141
  • Feb 21, 2010 6:59pm Feb 21, 2010 6:59pm
If you click on the name who made the post you can access their Bio.

The Craig Harris who posted is from Austria... not the right Craig Harris... just the same name.

















  • #1,142
  • Feb 21, 2010 7:02pm Feb 21, 2010 7:02pm
I hope all posts concerning an EA are over. Several members left the thread when that started.

Lets please stay on track. Thanks everyone.
  • #1,143
  • Feb 21, 2010 7:25pm Feb 21, 2010 7:25pm
Harmudge... Most traders I believe use the Jananese candles. Only my personal preference is Heiken Ash candles because of their smooth visual display which translates to me into less stress while in a trade. Dean Malone on Compassfx.com says on a 15 minute chart they normally run 5-8 candles per trade... on that timeframe.

ADX and TDI are not the same. The TDI is made from a RSI, moving average and a few other things.

Kesk... Glad you joined us. Sorry to hear about your losses. When trading the Forex market... money management is #1 in importance. Never trade more than 2-3% of your account on any one trade. In some cases that means trading micro lots only. Take care of your money management and it will take care of you so you can trade tomorrow.

I've watched each videos up to 20 times. Why? Refresher or to catch something I missed last time I watched it.

The Big Numbers apply to the 15 minute time frame.

If you leave the 15 minute time frame with all the rules that apply... you then enter no mans land. This works great when it's traded according to the rules set out at the beginning and via the videos.

Big E
  • #1,144
  • Feb 21, 2010 9:23pm Feb 21, 2010 9:23pm
Quoting kesk
So far I have had a string of big losses and very small profits which really ruined my starting capital.
Demo trade, demo trade, demo trade.
Then paper trade.
Make an Excel spreadsheet and go back 3 months on your chart and demo trade EACH trade you would have taken (during the EXACT times you normally trade every day...not randomly charting each trade if it's not at the time you normally trade). Then count the winners. You can count your winners (as if) you would have taken profit at 10 pips, 20 pips, 30 pips, etc. Then count how many would have been winners at 10 pips, 20 pips, etc. Then count your losers and your average pip loss on losers. Then calculate your win ratio...and you will have a good idea of how your live trading will go. Then plan on trading your REAL money according to how your back testing and demo trading went.

Best Regards,
NeoRio
Sentiment: Short on cash. Long on hope.
  • #1,145
  • Feb 21, 2010 9:31pm Feb 21, 2010 9:31pm
Quoting eelfranz
I hope all posts concerning an EA are over.
The only EAs I have seen discussed in this thread are EAs that handle your SL/TP, or for scaling out your position, not EAs that enter trades for you or that have anything to do with any system. The main EA we discussed (called Easy) is actually very practical for any method or system and makes setting SLs and TPs very...how should I say?...easy!

Best,
Neo
Sentiment: Short on cash. Long on hope.
  • #1,146
  • Feb 21, 2010 10:50pm Feb 21, 2010 10:50pm
Quoting piptalk
Hey Pal...If your going trade forex succesfully...you cant be a shrinking violet,,,,Mental toughness and hundreds,, if not thousands of hours are required of screen time to get a feel for the markets,,,,Got to pay your dues,,,,Were not interested in opinions regarding personalities...Who cares??? Did you have a question or a trade you would like to share?
Yes. Dont talk to our Big E like that.
  • #1,147
  • Feb 22, 2010 8:16am Feb 22, 2010 8:16am
Quoting eelfranz
If you click on the name who made the post you can access their Bio.

The Craig Harris who posted is from Austria... not the right Craig Harris... just the same name.


...

Oh well could have been.
Silly old me....was getting all excited too...lol.
  • #1,148
  • Feb 22, 2010 4:05pm Feb 22, 2010 4:05pm
That last post was a little bit tounge in cheek ... please excuse me.

I do know this trading strategy better than you can imagine .

Let me run through a few of the basics over a few posts.
  • #1,149
  • Feb 22, 2010 4:21pm Feb 22, 2010 4:21pm
This system is solely based on trading out of consolidation.

You can draw as many fibs, SR lines, pivots etc but you will never know whether to go long or short at these points until you see consolidation.

So why bother drawing them on your chart (lines, fibs etc)? All you need to look for is consolidation.

What is consolidation? It's a group of candles no longer making HH/HL (up trend) LH/LL (down trend)

Attached Image
  • #1,150
  • Feb 22, 2010 4:36pm Feb 22, 2010 4:36pm
One of the golden rules of trading is to trade away from moving averages. There are many moving averages that are promoted by traders. No matter what moving average you use, the rule is always the same ie trade towards a moving average at your peril.


If you look at a CH M15 chart, there are two moving averages. With trial and error you should be able to determine that the blue MA is the 60 period MA from the H1 time frame (240 on M15) and the 60 period MA from the M5 timeframe.

So following the golden rule, only trade away from these averages. If you are to risk trading towards one (counter trend trade) make sure there is enough distance to profit before hitting either MA.

Good trades are shown with yellow arrows. 'no go' trades are red arrows (unless you're comfortable that you can get 20 pips before hitting MA)

Attached Image (click to enlarge)
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  • #1,151
  • Feb 22, 2010 4:45pm Feb 22, 2010 4:45pm
As Big E stated previously, trading H1 candles can be very profitable. So why not add an indication of the previous H1 candle to the M15 chart? While you're at it, may as well add the previous H4?

Attached Image
  • #1,152
  • Feb 22, 2010 9:44pm Feb 22, 2010 9:44pm
Quoting craig.harris
As Big E stated previously, trading H1 candles can be very profitable. So why not add an indication of the previous H1 candle to the M15 chart? While you're at it, may as well add the previous H4?

Attachment
Thanks Craig. This is very good indeed.

Big E, you might wanna add up?
  • #1,153
  • Feb 22, 2010 10:27pm Feb 22, 2010 10:27pm
I wish to thank all of those who have supported this thread from its inception, especially Big E.

I have struggeled in forex for 2 years now trying many different methods and indicators, but I could not get any real success. I could never figure out why a "perfectly good TREND trade" suddenly stopped and then reversed on me, and why my "indicators"could never keep up.

Thanks to this thread, I have a new understanding of swing highs/lows and a far greater understanding of how price action works. I am not a student of Craig Harris, but thanks to his free videos and Big E's thread, I am a convert to this method - its makes easy sense out of the price chaos!

Anyway, I took myfirst two trades today with this method. Trade 1 was on the EURO/USD and got +20.1. It was taken at 6:42 am PST.

Trade 2 was on the GBP/USD. I made the right entry, but chickened out. It ran in my favor for more than 20 pips, but I took a 1 pip loss on the retrace to the 200 EMA. It was taken at 8:02 am PST.

Trades are marked with green line.

I will post my winning/losing trades as they come this week. Any comments are welcome. Thanks again to all of those who kept this thread going!

BTP
Attached Image(s) (click to enlarge)
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Without vision, the people will perish.
  • #1,154
  • Feb 23, 2010 3:05am Feb 23, 2010 3:05am
This is why trading toward the MA's is not a good idea. See how price consolidates or bounces off these two ma's

Attached Image (click to enlarge)
Click to Enlarge Name: 2010-02-23_2200.png Size: 40 KB


Attached Image (click to enlarge)
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  • #1,155
  • Feb 23, 2010 3:23am Feb 23, 2010 3:23am
Nice overview of Craig. Thanks. Are the 3rd and 5th red candles possibly supposed to be yellow?? Also do you have an indicator that draws the 1hr and 4 hr H/L. The one I've attached draws the S/R of several times - 15. 1hr, 4hr and DL. You can fiddle with the setting to adjust thickness but it's a bit messy. I got it from this thread some weeks back I think. - Awesome thread eh!
Attached Image (click to enlarge)
Click to Enlarge Name: test.png Size: 26 KB
Attached File(s)
File Type: ex4 #KG Support and Resistance Alert_Revision 2.ex4   9 KB | 542 downloads
  • #1,156
  • Feb 23, 2010 3:32am Feb 23, 2010 3:32am
Please excuse me for this post ...

Guys, I'm just testing whether I can post to another commercial thread ... currently can't post to public threads.

cheers
stratman
  • #1,157
  • Feb 23, 2010 4:17am Feb 23, 2010 4:17am
Great thread!!!! thanks for the thread big E and other support members..

been reading the thread currently at page 2 now.

love the system but i also added a few other system to give a better confirmation.

took my first live trade with this method today and made 45 pips!!! i had never made 45 pips!!

so glad u made this thread.

thanks a million.

ray
  • #1,158
  • Feb 23, 2010 5:58am Feb 23, 2010 5:58am
Quoting craig.harris
One of the golden rules of trading is to trade away from moving averages. Attachment
Impressive charts, Craig.--are you sure you're not *the* Craig Harris? Heh.

Best Regards,
NeoRio
Sentiment: Short on cash. Long on hope.
  • #1,159
  • Feb 23, 2010 5:59am Feb 23, 2010 5:59am
Quoting NeoRio
Impressive charts, Craig.--are you sure you're not *the* Craig Harris? Heh.

Best Regards,
NeoRio
wanted ta ask the same thing..
  • #1,160
  • Feb 23, 2010 7:08am Feb 23, 2010 7:08am
Quoting jazman
wanted ta ask the same thing..
Me, too.

JR
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