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Craig Harris Stochastics Method

  • #1,261
  • Mar 1, 2010 5:16pm Mar 1, 2010 5:16pm
I use these for the big numbers and mid range levels.


Quoting NeoRio
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.
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File Type: ex4 SDX-SweetSpots_v5.2.ex4   8 KB | 454 downloads
File Type: mq4 SweetSpots.mq4   4 KB | 459 downloads
Without vision, the people will perish.
  • #1,262
  • Mar 1, 2010 5:43pm Mar 1, 2010 5:43pm
Can anyone please post a stochastic indicator which will display an arrow on main chart and send out an email when the 2 lines cross?

Thanks,
  • #1,263
  • Mar 1, 2010 6:57pm Mar 1, 2010 6:57pm
Quoting Delta
Attachment
What? 30% Dukas rebate. Hmm...

...Other Introducing Agents (IA) for Dukascopy offer a 45% rebate.

JD
It's Easy To Get In;.. It's Hard To Get Out
  • #1,264
  • Mar 1, 2010 10:25pm Mar 1, 2010 10:25pm
Someone had asked for my other two trades can't remember the other winner but here is the loss. Went long on the break of the reversal candle it actually worked out but I had a 27 pip stop so it got hit then I reentered....
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  • #1,265
  • Mar 2, 2010 1:22am Mar 2, 2010 1:22am
Quoting NeoRio
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.
I think news/fundamentals are a big driver of reversals on pairs that are on a technical move of any distance (50, 70+) away from the open.
  • #1,266
  • Mar 2, 2010 2:36am Mar 2, 2010 2:36am
What do you think about this eur/usd setup?
After london open, reversal candle, good stoch angle, away from MA's.

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  • #1,267
  • Mar 2, 2010 3:05am Mar 2, 2010 3:05am
Quoting Delta
What do you think about this eur/usd setup?
After london open, reversal candle, good stoch angle, away from MA's.

Attachment
Would have been a good trade, Delta...even though the Tokyo Channel was barely at 40 pips by then. Had you set your SL above the reversal candle, you would be in profit pretty nicely right now. I took an EU short at 1.3523...currently with 35 pips profit. Took an EJ short around the same time (same reversal candle formation) with 55 pips profit currently.

I kind of like to wait for price to break out of the TC a bit before starting my trading day.
Sentiment: Short on cash. Long on hope.
  • #1,268
  • Mar 2, 2010 3:16am Mar 2, 2010 3:16am
Quoting NeoRio
Would have been a good trade, Delta...even though the Tokyo Channel was barely at 40 pips by then. Had you set your SL above the reversal candle, you would be in profit pretty nicely right now. I took an EU short at 1.3523...currently with 35 pips profit. Took an EJ short around the same time (same reversal candle formation) with 55 pips profit currently.

I kind of like to wait for price to break out of the TC a bit before starting my trading day.
That was a nice trade. Eurusd TC 40 pips? Mine is about 60 pips
I put a stop above the previous high. Entered with 3 minis. Wanted to exit 1 mini when i had 10 pips profit near last fractal low so i set buy limit order but it did not close my 1 mini from prevoius order only opened another opposit position, so i lost some pips because of this mistake.

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  • #1,269
  • Mar 2, 2010 3:43am Mar 2, 2010 3:43am
Welcome to all the new members and thanks to the regulars for helping out. HLass...glad your back. Lots of good trades here...

NeoRio... Thank you for ther updated template...
  • #1,270
  • Mar 2, 2010 4:08am Mar 2, 2010 4:08am
Quoting agent6488
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.

After a re-think of my reply and another quick re-read of the doc's in question, I gave you the wrong reply.

This is what I should have said...it may be wrong, maybe you have another take on it as you said above...but here goes.

Once the pair has put in a range and moved off the low (if going long) from the said amount of pips the percentages quoted are for it nosediving and making a new low for the day.
The same applies for going short but in the other direction obviously.

Does it make sense ??
  • #1,271
  • Mar 2, 2010 5:02am Mar 2, 2010 5:02am
I'm not sure what you mean.
Write it in steps.

1. Open
2. Price goes 70 pips up/long.
3. Continues to put in range up to 130/whatever.
4. Dives down/short 130+ ???
  • #1,272
  • Mar 2, 2010 5:06am Mar 2, 2010 5:06am
HI bpips,

Thanks for posting the other trades. I took the exact same trade on the first yellow line and got stopped with minus 33 pips, I then re-entered on the second yellow line and doubled my lot size and took + 15 pips, nearly bringing me back to BE.

One has to take into consideration the size of the previuos run before taking a reversal position in the opposite direction. The G/U had run short nearly 400 pips, more than twice its daily average!

Thanks
Quoting bpips
Someone had asked for my other two trades can't remember the other winner but here is the loss. Went long on the break of the reversal candle it actually worked out but I had a 27 pip stop so it got hit then I reentered....
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Without vision, the people will perish.
  • #1,273
  • Mar 2, 2010 8:01am Mar 2, 2010 8:01am
I went short thinking the E/U had made a high. I figured the bearish engulfing candle after the doji was enough of a reversal pattern - uh... nope!

The price had bounced off the 240 EMA, under the BB, stoch and TDI agreement. What did I do wrong here?

Thanks
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Without vision, the people will perish.
  • #1,274
  • Mar 2, 2010 10:26am Mar 2, 2010 10:26am
This is an update to my post #1273 above. This is a good example of what NOT to do. I think this is why I got stopped out. My entry candle never broke the low of the reversal candle.

Comments welcome.

Thanks
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Without vision, the people will perish.
  • #1,275
  • Mar 2, 2010 11:02am Mar 2, 2010 11:02am
Hey bythepound,

hide sight is great i am a back testing millionaire LOL...the first thing i saw i know ch doesnt discuss it but price had closed up above the resistance area and its now support pretty much where you entered short thats the only thing i can see...im not expert but i watch those area's alot when entering..just my two cents

glad you got even and that trade from yesterday i didnt double up but ended up positive for the day...
  • #1,276
  • Mar 2, 2010 11:37am Mar 2, 2010 11:37am
GU gave up two nice trades.. I wasn't around to get the first got +23 total on the long...
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  • #1,277
  • Mar 2, 2010 11:48am Mar 2, 2010 11:48am
Quoting bpips
GU gave up two nice trades.. I wasn't around to get the first got +23 total on the long...
hip hip
  • #1,278
  • Mar 2, 2010 12:34pm Mar 2, 2010 12:34pm
Quoting bpips
GU gave up two nice trades.. I wasn't around to get the first got +23 total on the long...
Yes bpips, after the fact we see that it was a winner, but according to our rules price was to close to MA.

When the trade is a looser we try to find all possible reasons why the price went against us but when we have profit we don't care that something was not in our favour.

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  • #1,279
  • Mar 2, 2010 7:19pm Mar 2, 2010 7:19pm
Quoting Delta
Yes bpips, after the fact we see that it was a winner, but according to our rules price was to close to MA.

When the trade is a looser we try to find all possible reasons why the price went against us but when we have profit we don't care that something was not in our favour.

Attachment
You are right but I dont use the moving average to determine if i will take a trade or not...for me I am a price action trader mostly and will look for previous areas of support and resistance for both entries and targets..I would agree that using the MA is the safer entry but if a person understands order flow for me the MA just gets in the way...if you look left on your chart you can see that price was moving away from a demand/support zone created during the london session...
  • #1,280
  • Mar 2, 2010 7:23pm Mar 2, 2010 7:23pm
I had six trades today, with my first one ending in a stop loss - see post #1274. I see that I broke the entry rules on that one.

Trades 2-6 were great, I just was jittery today and did not let them all go very far despite the fact they all ran + 20 pips.

NOTE: I big stop loss keeps you in the game and it really helped today.
CH suggests doubling up on the lots after a losing trade - I did this after losing 35 pips on my first trade. I made all of my money and then some back on trade #2.

Despite only netting 26 pips today after the big 35 pip loser, the doubling of lots (2 total) on trade #2 allowed me to make $50.39 on my mini account for the day.

Comments welcome.

Hope this helps.
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Without vision, the people will perish.
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