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Craig Harris Stochastics Method

  • #1,301
  • Mar 4, 2010 2:55pm Mar 4, 2010 2:55pm
Hi again,

Just remember, I am here to just help, any questions, just ask, as everytime I post a chart or 2 and shwo my trades I always get someone to question something or another and as I said im here to just help, I get nothing out of showing a win or three, just my pips and money, but there is always someone questioning what I do, I dont really care as I enter my traded pretty much all the time either with boly band or a pinbar or something price related and once its learnt, people dont question anymore, but until then there is always hypocrites, best thing is follow CH method and improve by continual study and eventually price action will be the way of your trades as they get in you in earlier and more confirmation, as I always say, study and more study and any questions just ask, I am here for questions.
hlass
  • #1,302
  • Mar 4, 2010 3:42pm Mar 4, 2010 3:42pm
Quoting bythepound
It (CH method) has completely changed my trading. I have been from one side of this forum to the other - this basic price action method works better than ANYTHING I have ever seen.
Couldn't agree with you more...it has really helped make sense of the way the market flows...and I've finally had consistent wins for several weeks running.
Sentiment: Short on cash. Long on hope.
  • #1,303
  • Mar 4, 2010 3:47pm Mar 4, 2010 3:47pm
Quoting agent6488
Doesn't seem very useful in that sense.

Pitty you don't find the info useful, but no prob's.

The way I use it, is for getting into reversal days as described in the doc.

Say you think a reversal day to go Long is on the cards....you wait for the Tokyo Range to put in it's 60 pips or so.

So price has moved above and below the opening price and put in a decent range.
You then see price is coming up off the lows and has came up 70 pips, you now know that the chance of price reversing on you and heading lower to make a new low for the day is X%.
So theoretically you could place your S/L just below the low that has been established and be fairly confident that price ain't coming back...that day at least.
  • #1,304
  • Mar 4, 2010 3:48pm Mar 4, 2010 3:48pm
Quoting Delta
I don't know who heard that Craig is doubling second trade after a looser.
Delta, it's true, CH himself said that...I heard it with my own 2 ears...either in one of his webinars, or in his free training videos. I also heard the woman that opens his webinars for him say the same thing at least once...that she had a loser, then used CH's method for recooping a loss...and she doubled her lot size next swing and made it back and then some. I know you've asked several times now and I just wanted to let you know that indeed CH doubles his lot size on the next swing after a loser. He may have other more technical ways of covering losses, I don't know...I never heard of them.
Sentiment: Short on cash. Long on hope.
  • #1,305
  • Mar 4, 2010 6:57pm Mar 4, 2010 6:57pm
Hi Neo,

Thanks for clearing that up as I was beginning to have seconds thoughts about the longgevity of such a method. However, that is why I am testing the method with fake money!

Thanks

Quoting NeoRio
Delta, it's true, CH himself said that...I heard it with my own 2 ears...either in one of his webinars, or in his free training videos. I also heard the woman that opens his webinars for him say the same thing at least once...that she had a loser, then used CH's method for recooping a loss...and she doubled her lot size next swing and made it back and then some. I know you've asked several times now and I just wanted to let you know that indeed CH doubles his lot size on the next swing after a loser. He may have other more technical ways of covering...
Without vision, the people will perish.
  • #1,306
  • Mar 4, 2010 7:25pm Mar 4, 2010 7:25pm
I attended Craig Harris's webinar. And as Neo pointed out in post #1207 and #1258, Craig talked about PA making a 70 move for the "day" and suggested PA will likely go in the direction later in the day to fill the daily range of that pair.

In the webinar, he emphasizes the importance of the fact that if the price PA has moved 70 pips for the day, "USUALLY" that will be the day it runs another 70 or more pips to reach say, 150 pips or that currencies daily range. He states that most pairs put in a daily range of at least 150 pips.

So, does this mean that the pair should go another 70 pips long, if at some point since the Wellington open, the price has already moved 70 pips up? I guess another way of asking is that should I only be looking for longs if the PA has moved 70 pips up, and simply ignore the shorts?

He says "moved 70 pips for the DAY" - but does he really mean the session you are in, say the NY or London, etc. My ADR shows pip moves by the month, week, day, AND session. A lot of times I see a 70 pip move in my session (NY/London overlap) alone.
Thanks for the help.
Without vision, the people will perish.
  • #1,307
  • Mar 4, 2010 7:40pm Mar 4, 2010 7:40pm
Hi carlene,

I am back testing this and it seems to work a lot of times. I will keep looking into it and see how it works! Thanks for posting this.

Quoting carlen68
Here is my gift to you guys for all you info. After studying the webinars from 12/17/09. I figured out Craig's 12-3pm est strategy. Here it goes. He talkes about how he gets atleast one perfect trade a day from the pairs he trades (gbpusd, eurusd, usdcad, audusd, and eurjpy). This is a counter trend trade after the close of the London session. He takes a fib of the whole day (from open to 12pm est.) from high to low or low to high. He is looking for price to be at the lower 1/4 or upper 1/4 of the days range at the end of the close of the London...
Without vision, the people will perish.
  • #1,308
  • Mar 4, 2010 9:58pm Mar 4, 2010 9:58pm
Hi HLass,

I always enjoy your charts and look in amazement at your entries. Clearly you have a gift for entries well beyond the scope of the Craig Harris method. I think I speak for other serious students of this method that we would love to know your entry criteria - even if it was one or two "setups" other than the CH method.

I believe your trading method would be well received on the thread and if anyone is hypocritical as you state, well, they go somewhere else! I know that you do not get anything from posting here (who does) beyond the satisfaction of knowing the serious students of this trading method are learning from others and YOU.

BTW - I was just days away from quitting the forex business, as I could not find any method that worked - even ones I paid for. I have been all over this website looking for trading systems - none of them worked. When I found this one - my forex life changed in a matter of days. I am back in the game... for now, and I want to learn! Price action is key, something I did not realize until 2 weeks ago. You obviously trade PA above all else and it seems the indicators on YOUR chart are simply window dressingJ.

Thanks

Quoting HLass
Hi again,

Just remember, I am here to just help, any questions, just ask, as everytime I post a chart or 2 and shwo my trades I always get someone to question something or another and as I said im here to just help, I get nothing out of showing a win or three, just my pips and money, but there is always someone questioning what I do, I dont really care as I enter my traded pretty much all the time either with boly band or a pinbar or something price related and once its learnt, people dont question anymore, but until then there is always hypocrites,...
Without vision, the people will perish.
  • #1,309
  • Edited 3:55am Mar 5, 2010 12:11am | Edited 3:55am
Quoting bythepound
I attended Craig Harris's webinar. And as Neo pointed out in post #1207 and #1258, Craig talked about PA making a 70 move for the "day" and suggested PA will likely go in the direction later in the day to fill the daily range of that pair.

[color=black][font=Verdana]In the webinar, he emphasizes the importance of the fact that if the price PA has moved 70 pips for the day, "USUALLY" that will be the day it runs another 70 or more pips to reach say, 150 pips or that currencies daily range. He states...
Ah see I think harmudge was saying he got something different from the thread about moving away from the open? I thought it was verifying this point.



I'd like to see some descriptive setups from HLass as well. I have trouble picking entries purely with the CH method. Would be good to have more in my arsenal.
HLass, would also like to know about your moving averages and your pivot point setup that allows you to see pivots for different timeframes without a lot of clutter.
  • #1,310
  • Mar 5, 2010 1:20am Mar 5, 2010 1:20am
Quoting bythepound
So, does this mean that the pair should go another 70 pips long, if at some point since the Wellington open, the price has already moved 70 pips up? I guess another way of asking is that should I only be looking for longs if the PA has moved 70 pips up, and simply ignore the shorts?

He says "moved 70 pips for the DAY" - but does he really mean the session you are in?
What I gathered is that when he says "session" he means the day you are in (in his case he uses Wellington open [22:00 GMT] as the new day). So, just like you said; if price moves 70 or more pips in either direction, it is most likely to continue moving in that same direction till it reaches its daily average range. That doesn't mean you can't counter trend trade by taking swings in the opposite direction. It just means there is a likelihood that price will move further in that direction.

Best Regards,
NeoRio
Sentiment: Short on cash. Long on hope.
  • #1,311
  • Mar 5, 2010 7:37am Mar 5, 2010 7:37am
That is what I figured.

Thanks
Quoting NeoRio
What I gathered is that when he says "session" he means the day you are in (in his case he uses Wellington open [22:00 GMT] as the new day). So, just like you said; if price moves 70 or more pips in either direction, it is most likely to continue moving in that same direction till it reaches its daily average range. That doesn't mean you can't counter trend trade by taking swings in the opposite direction. It just means there is a likelihood that price will move further in that direction.

Best Regards,
NeoRio
Without vision, the people will perish.
  • #1,312
  • Mar 5, 2010 9:37am Mar 5, 2010 9:37am
Quoting NeoRio
What I gathered is that when he says "session" he means the day you are in (in his case he uses Wellington open [22:00 GMT] as the new day). So, just like you said; if price moves 70 or more pips in either direction, it is most likely to continue moving in that same direction till it reaches its daily average range. That doesn't mean you can't counter trend trade by taking swings in the opposite direction. It just means there is a likelihood that price will move further in that direction.

Best Regards,
NeoRio

I know this has been beaten to death but actually the Wellington (New Zealand) market opens @ 8:00am their time as you know but that time does not convert to 5:00pm EST New York market close. It's actually 2:00pm EST.



Trade to trade well,
JD
It's Easy To Get In;.. It's Hard To Get Out
  • #1,313
  • Mar 5, 2010 11:55am Mar 5, 2010 11:55am
The Tokyo channel boggles my mind. I know Wellington is GMT +13. Wellington is 13 hours ahead of GMT time. So if Market open is 8 am there, 13 hours before that in Greenwich/GMT it should be 5 pm or 17 GMT. So why do we start the channel at at 22 GMT?
  • #1,314
  • Edited 10:01pm Mar 5, 2010 4:54pm | Edited 10:01pm
I am not sure if this will help to solve the mystery regarding the Tokyo Channel time frame. It runs from the Wellington open (5 PM EST) until midnight EST.

Follow this link to see times around the world.

http://www.timeanddate.com/worldclock/city.html?n=264

At 5 pm EST, go to this website and note the time in Wellington. Then cordinate this with your chart time.

This link may also help:

http://www.forexmarkethours.com/GMT_hours/02/

Hope this helps.
Without vision, the people will perish.
  • #1,315
  • Mar 6, 2010 5:13am Mar 6, 2010 5:13am
Makes sense on forexmarkethours, but if I do the math using timeanddate, it's completely different.
  • #1,316
  • Mar 6, 2010 8:53am Mar 6, 2010 8:53am
Yep, that's why I like the forexmarkethours "cheat sheet"

Best
Quoting agent6488
Makes sense on forexmarkethours, but if I do the math using timeanddate, it's completely different.
Without vision, the people will perish.
  • #1,317
  • Mar 6, 2010 11:46am Mar 6, 2010 11:46am
Quoting bythepound
Yep, that's why I like the forexmarkethours "cheat sheet"

Best
Except they show Wellington and Sydney with the same opening time, but there is actually a 2 hour difference between them.
Which means that Wellington opens at 1100 local but Sydney opens at 0900 local per forexmarkethours chart.
Anyone know for certain?

JR
  • #1,318
  • Mar 6, 2010 2:40pm Mar 6, 2010 2:40pm
I did the same calculation and noted that Wellington "seemed" to open at 11:00 am their time - Can anyone confirm this?
Without vision, the people will perish.
  • #1,319
  • Mar 6, 2010 11:43pm Mar 6, 2010 11:43pm
Ladies and Gentlemen of the thread.
The latest strategy to be released similar to CH is called Triplestrike.

It includes the swings and has B Bands. Might be worth looking at as the site has lots of detail and now there is a video.

http://www.triplestrikeforex.com/sam...ike_promo.html

I assume that this is allowed, I am not promoting it but bringing it to your attention because of the closeness ot the method to the one discussed here.

Actually it is close to my own thoughts on the subject.
  • #1,320
  • Mar 7, 2010 12:44am Mar 7, 2010 12:44am
Phreddy,
Looked at the video...and it goes to sales site at the finish automaticly...they want $97 for something that is taught for free at BabyPips.com.
BB's, Swing Highs/Lows, Fibs. Why would anyone consider giving away their hard earned money for what is already free.
Can't say that I would...
Thanks for the update though...
Cliff

Quoting Phreddy
Ladies and Gentlemen of the thread.
The latest strategy to be released similar to CH is called Triplestrike.

It includes the swings and has B Bands. Might be worth looking at as the site has lots of detail and now there is a video.

http://www.triplestrikeforex.com/sam...ike_promo.html

I assume that this is allowed, I am not promoting it but bringing it to your attention because of the closeness ot the method to the one discussed here.

Actually it is close to my own thoughts on the subject.
I get exercise just pushing my luck
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