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Craig Harris Stochastics Method

  • #1,241
  • Mar 1, 2010 1:07am Mar 1, 2010 1:07am
Quoting harmudge
Hi Agent,

The way I took the info was that it was unlikely to re-trace back to the open ??
What's your take on it ?

Glad you found the thread, I found it a good read.
Yea that was the only hard piece of advice I got from what I read of the data analysis. Ironically a couple of the pairs I was watching while reading the thread did exactly what they were saying is unlikely: they went 50 away from the open, then reversed and put in their range in the opposite direction. I still like the concept though. I've read up on strategies incorporating theories about the open (NickB method), and the concept seems to hold some water.
  • #1,242
  • Mar 1, 2010 3:27am Mar 1, 2010 3:27am
Wanted to share with you my eur/usd trade i took today.
Trade setup looked nice - reversal candle, good stochastic agreement, so entered short on the brake of the candle, but few minutes later it went against me and stopped me out.

Attached Image (click to enlarge)
Click to Enlarge Name: eurusd.jpg Size: 152 KB
  • #1,243
  • Mar 1, 2010 3:57am Mar 1, 2010 3:57am
Quoting Delta
Wanted to share with you my eur/usd trade i took today.
Trade setup looked nice - reversal candle, good stochastic agreement, so entered short on the brake of the candle, but few minutes later it went against me and stopped me out.

Attachment

Hi,
An idea that works for me is to use the 20 sma as a line in the sand. After reversal candle go long if price is above the sma and short if price is below the sma. Less trades this way though.
Have a look at the example.
Attached Image (click to enlarge)
Click to Enlarge Name: EURJPY 15 min.png Size: 42 KB
  • #1,244
  • Mar 1, 2010 4:36am Mar 1, 2010 4:36am
Quoting castlebrook
Hi,
An idea that works for me is to use the 20 sma as a line in the sand. After reversal candle go long if price is above the sma and short if price is below the sma. Less trades this way though.
Have a look at the example.
Thanks for advice. That is eur/jpy chart (price about 131.00)? Maybe old one.

Yes that eur/usd trade was towards MA's. But my next eur/usd trade was also towards them. Luckily it was a winner. exited at the MA 20. So after 2 trades today i'm almost break even.

Attached Image (click to enlarge)
Click to Enlarge Name: eurusd2.png Size: 140 KB
  • #1,245
  • Mar 1, 2010 5:58am Mar 1, 2010 5:58am
Lovely setup today! - There was news announced at 9.30 gmt but looking at the 1hr chart for once, seeing the nice setup on the 15 also, I had to take it.

Knowing nothing about fundamental trading, but guessing the Chile earthquake wont help matters and seeing the price really start to move I held on for 100 pips. 350 pip swing so far.

I'd like to take the next swing since its a fair distance from the MA, worried I may be being greedy though.

http://i46.tinypic.com/dtcw8.jpg
  • #1,246
  • Mar 1, 2010 6:06am Mar 1, 2010 6:06am
Your entry candle was 30 minutes into the London session (12:30 PST) which was also a news event. There was also news at 1:00 am PST. You have to stay awy from the news no matter how great the set up is.

I would wait for a better signal from the Stoch, such as the signal line passing through the 80% line as well. You might look into the TDI indicator that is much talked about on the blog, as it would have showed there was no clear entry.

Keep trying though!
Quoting Delta
Wanted to share with you my eur/usd trade i took today.
Trade setup looked nice - reversal candle, good stochastic agreement, so entered short on the brake of the candle, but few minutes later it went against me and stopped me out.

Attachment
Without vision, the people will perish.
  • #1,247
  • Mar 1, 2010 6:41am Mar 1, 2010 6:41am
Quoting bythepound
Your entry candle was 30 minutes into the London session (12:30 PST) which was also a news event. There was also news at 1:00 am PST. You have to stay awy from the news no matter how great the set up is.

I would wait for a better signal from the Stoch, such as the signal line passing through the 80% line as well. You might look into the TDI indicator that is much talked about on the blog, as it would have showed there was no clear entry.

Keep trying though!
Euro news was 1 hour after london open and 2 hours after london open, so i guess i shouldn't have taked none of my trades (one of them was negative, one positive).
This stoch angle is usually the best when trade is moving in our direction, not when we take the trade.
  • #1,248
  • Mar 1, 2010 6:44am Mar 1, 2010 6:44am
Quoting chewz
Lovely setup today! - There was news announced at 9.30 gmt but looking at the 1hr chart for once, seeing the nice setup on the 15 also, I had to take it.

Knowing nothing about fundamental trading, but guessing the Chile earthquake wont help matters and seeing the price really start to move I held on for 100 pips. 350 pip swing so far.

I'd like to take the next swing since its a fair distance from the MA, worried I may be being greedy though.
I was also watching this trade. Didn't take it because it was 50 pips stop if we put it over the previous swing high.
  • #1,249
  • Mar 1, 2010 7:38am Mar 1, 2010 7:38am
Quoting Delta
Thanks for advice. That is eur/jpy chart (price about 131.00)? Maybe old one.

Yes that eur/usd trade was towards MA's. But my next eur/usd trade was also towards them. Luckily it was a winner. exited at the MA 20. So after 2 trades today i'm almost break even.

Attachment

Yes exactly. It's just an example of the method. The currency pair does not really matter although it works best on GBP/USD, EUR/USD, EUR/JPY.
  • #1,250
  • Mar 1, 2010 10:01am Mar 1, 2010 10:01am
Hi everyone,

Well I thought long and hard this weekend while watching the olympics, I came here to help traders and give back and although we have has some stuff go on that I dont really condone, I still felt a little like I was going against what I originally planned to do in the first place and that was to help, so to keep this short, I can trade many different ways, but I will post charts with stochastic and boly as I cant trade without my boly bands, it would just not feel right, so I will go along with what we are doing with CH method and once in awhile show other trades on weirdo pairs and the like, but this way I can still show wins and sometimes losses so as to educate and help in any way possible.

As for a write up, it will happen down the road, but please dont ask, I will get to it, but right now my main concern is helping with CH method as we all know it works, so lets get that learnt as good as we can and then down the road for those that are interested, a bollinger band explanation will be placed here, it will not be in depth as much as I want it to be, but I also just dont have the time I need to give it the justice that it really needs.

So, today took a short on eu at 1.3519 took out 1/3 at 1.3594 and another 1/3 at 1.3462 and still holding 1/3 for maybe more of a drop and my stop is at b/e, the entry reason is cross of stoch, but in all reality, this was a news trade as I got in short at 1458gmt thinking news would be good and thus a drop in eu, well I went into drawdown 15pips sort of sucks, but it all ended good, news is not safest thing to do, but was just in the mood today for a news trade, so there it is, any questions just ask.
hlass
Attached Image (click to enlarge)
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  • #1,251
  • Mar 1, 2010 11:14am Mar 1, 2010 11:14am
Hi HLass,

Thank yo for your continued support in this forum. I always look forward to your posts and frankly, I have learned a lot from you including your use of BB - which I now use.

I noted that none of your trade examples use the TDI. Is there a reason for this? I know it is not part of he CH method.

ALSO - are you waiting for the PA on the entry candle to break the high/low of the reversal candle before entering, or just taking the entry on the stoch cross following the close of the reversal candle? The reason I ask, is that it seems that if we wait for the break, we get a late fill.

Thanks
Quoting HLass
Hi everyone,

Well I thought long and hard this weekend while watching the olympics, I came here to help traders and give back and although we have has some stuff go on that I dont really condone, I still felt a little like I was going against what I originally planned to do in the first place and that was to help, so to keep this short, I can trade many different ways, but I will post charts with stochastic and boly as I cant trade without my boly bands, it would just not feel right, so I will go along with what we are doing with CH method and...
Without vision, the people will perish.
  • #1,252
  • Mar 1, 2010 12:03pm Mar 1, 2010 12:03pm
Just two of the four trades I took today the first one got stopped on the first long candle after the news candle down for -27. Then the next three ended up +19 +27 +41.

Not a bad way to start the week off...
Attached Image (click to enlarge)
Click to Enlarge Name: two trades.gif Size: 14 KB
  • #1,253
  • Mar 1, 2010 12:21pm Mar 1, 2010 12:21pm
Hi bpips,

If you have time, please post your other two trades, as it will really help!

Thanks
Quoting bpips
Just two of the four trades I took today the first one got stopped on the first long candle after the news candle down for -27. Then the next three ended up +19 +27 +41.

Not a bad way to start the week off...
Without vision, the people will perish.
  • #1,254
  • Mar 1, 2010 12:22pm Mar 1, 2010 12:22pm
Quoting bpips
Just two of the four trades I took today the first one got stopped on the first long candle after the news candle down for -27. Then the next three ended up +19 +27 +41.

Not a bad way to start the week off...
27 - (+19 +27 +41) /3 = 27 - 25 = -2 pips

So on these 2 trades you lost 2 pips, am i right?

I would not have taken the first trade because gbp/usd ADR was about 400 pips - over 2 times bigger than normal so it was very risky to trade in that direction.
  • #1,255
  • Mar 1, 2010 2:48pm Mar 1, 2010 2:48pm
Quoting bythepound
Hi HLass,

Thank yo for your continued support in this forum. I always look forward to your posts and frankly, I have learned a lot from you including your use of BB - which I now use.

I noted that none of your trade examples use the TDI. Is there a reason for this? I know it is not part of he CH method.

ALSO - are you waiting for the PA on the entry candle to break the high/low of the reversal candle before entering, or just taking the entry on the stoch cross following the close of the reversal candle? The reason I ask, is that it seems that...
Hi bythepound,

Thanks for the comments, yes I dont use tdi, it is really redundant at this point as stochs and tdi are close to the same, and CH doesnt use it, also most of my trades I get in off of something to do with a boly bounce, so using stoch or tdi would get me in 1-2 candles late thats a lot of pips. Also many times most people really cant find a proper reversal, so it is safest to wait on break of reversal candle to enter, it is sort of like my reversals I take off of the boly bands, this is why I hesitate on explaining bollies to a very detailed level, it will make confusion, I have taught many people about boly bands and they now trade it and better than I, but I have had some people get so fed up with it and couldnt figure it out, and I dont want to confuse the good people of this thread, the best way to trade is PA plain and simple as we all get in much earlier than with indies, and this trade today was really a news trade even with stoch in agreement, it was just a news trade, but if you notice, there were candles with wicks, showiung that the bulls couldnt hold the price up and thus it sank, many reasons and ways to get into trades, a lot of people get hung up on a method and miss many trades, best thing to do is learn and learn and as one learns, so many more things open up and explain the many ways to get into trades.
I used to use a cross of ema method and won over 80percent but was always late, and that got me to think there has to be a way to get in ealrier and make more pips on each trade, it was a long and ardous road, but I wanted the success, and so I scrolled and scrolled the charts looking for the answers that were right in front of me and is in front of all of us.
hlass
  • #1,256
  • Mar 1, 2010 2:55pm Mar 1, 2010 2:55pm
Thank you vry much for the explanation!

Quoting HLass
Hi bythepound,

Thanks for the comments, yes I dont use tdi, it is really redundant at this point as stochs and tdi are close to the same, and CH doesnt use it, also most of my trades I get in off of something to do with a boly bounce, so using stoch or tdi would get me in 1-2 candles late thats a lot of pips. Also many times most people really cant find a proper reversal, so it is safest to wait on break of reversal candle to enter, it is sort of like my reversals I take off of the boly bands, this is why I hesitate on explaining bollies to a...
Without vision, the people will perish.
  • #1,257
  • Mar 1, 2010 3:15pm Mar 1, 2010 3:15pm
Quoting bythepound
Thank you vry much for the explanation!

bythepound,

you are so right, vision is key in anything in life, but especially in the 4x market, no vision, equals loss of money plain and simple

and you are certainly welcome for the explanation

take care

hlass
  • #1,258
  • Mar 1, 2010 4:28pm Mar 1, 2010 4:28pm
Quoting agent6488
Ironically a couple of the pairs I was watching while reading the thread did exactly what they were saying is unlikely: they went 50 away from the open, then reversed and put in their range in the opposite direction.
Right, I have noticed that too in my back testing. But CH did say when price has moved "more than 70 pips"...not 50. Even with the 70+ pip move, there are still instances where the ADR will end up going the other direction...but not often.
Sentiment: Short on cash. Long on hope.
  • #1,259
  • Mar 1, 2010 4:42pm Mar 1, 2010 4:42pm
Quoting Delta
...but few minutes later it went against me and stopped me out.
Sorry for your loss, Delta. Let's try to learn from this. Everything had lined up on your trade just right, like you said...except for one thing...which could have/should have kept you out of the trade. Take a peek at the attached picture.

Best Regards,
NeoRio
Attached Image (click to enlarge)
Click to Enlarge Name: importance_of_mas.gif Size: 44 KB
Sentiment: Short on cash. Long on hope.
  • #1,260
  • Mar 1, 2010 4:56pm Mar 1, 2010 4:56pm
Quoting Nasir
Hi Big E and Neo Rio,

Is there any free indicator for big Numbers and Mid range numbers for Meta tarder 4 on any site.

thanks

Nasir
Nasir, I have edited an indicator to give us the equivalent of the Big Numbers/Mid Range Numbers on your screen. If you d/l the template I posted recently, look at the M5 and you will see all the BNs on the chart. You can then edit them (in the preferences of the indicator) to show on any and all TFs you wish.
Sentiment: Short on cash. Long on hope.
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