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Craig Harris Stochastics Method

  • #1,381
  • Mar 15, 2010 7:17am Mar 15, 2010 7:17am
Hi Craig,
Can i ask to review this gbpusd CTT.
First of all we have reached Daily Range, we have a break of reversal candle and nice stoch. Stop below previous low.
From your webinars i know that you like this kind of trades after london close, but what do you think about taking that kind of trade during london session?

Attached Image (click to enlarge)
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  • #1,382
  • Mar 15, 2010 7:38am Mar 15, 2010 7:38am
after a big swing - the next swing is normally small
as it turned out here
that trade for me made sense - because we made the range
but if you want to trade with the trend would have made sense
to go short at 1.5055 at the break of the next reversal candle -


thatīs my understanding
  • #1,383
  • Mar 15, 2010 7:48am Mar 15, 2010 7:48am
also donīt forget that you made about 25 pips allready in that reversal candle
so that is probably not good - as the typical sving is 30-60 pips
  • #1,384
  • Mar 15, 2010 10:42am Mar 15, 2010 10:42am
What is the opinion regarding potential entries after a swing high/low when the Stoch is OB or OS respectively?

Today the EUR/USD and the EUR/JPY both had fresh swing highs in an overall downtrend (referring to the M30. H1, etc.) as can be seen on the M15 charts below.

Note that the Stochs were oversold. Do we stay awya from these short entries?

The potential entry times:
EUR/USD = 7:15 or 7:30 am PST
EUR/JPY = 8:00 am PST

Thanks
Attached Image(s) (click to enlarge)
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Without vision, the people will perish.
  • #1,385
  • Mar 15, 2010 1:12pm Mar 15, 2010 1:12pm
Quoting Delta
Hi Craig,
Can i ask to review this gbpusd CTT.
First of all we have reached Daily Range, we have a break of reversal candle and nice stoch. Stop below previous low.
From your webinars i know that you like this kind of trades after london close, but what do you think about taking that kind of trade during london session?

Attachment
I took this trade and made fast 10 pips. Came in a bit late.
The 23.6 fib of this huge downswing today was right at 1.5062. So i took my profit at that level. I always take profits at the first significant resistance because i often lost too much money in the past where i was too greedy. When my account is big enough(i hope it will be in the next months^^) i will trade more than 0.1 Lot which is my smallest size i can take, so i can take partial profits.

All in all it was not the best trade because the R:R ratio was pretty bad. (2:1)
  • #1,386
  • Mar 15, 2010 7:38pm Mar 15, 2010 7:38pm
Hi All,

After regestering for the free videos from Craig Harris, I received a welcome email with a lot of great information regarding the trading method - thank you Craig!

However, attached to the email were two indicators, one was a multi-time frame stochastic indicator and another was the auto S&R tool.

I like the multi-time frame stochastic because it seems that the trades I take on the M15 work better when at least the M30 stochastic is in agreement (not OB or OS).

DOES ANYONE look at the stochastics from upper time frames such as the M30, M60 etc.?

I know that 8,3,3 is the standard setting for the stochastic on the m15, but what about the 30 minute, 1 hour, etc.?

Thanks to those who answer!
Without vision, the people will perish.
  • #1,387
  • Mar 16, 2010 10:22am Mar 16, 2010 10:22am
I don't ck stochs on higher TF's, but it definitely pays to look at hourly MACD. If you trade in direction of hourly MACD, your odds go up tremendously.
  • #1,388
  • Mar 16, 2010 10:35am Mar 16, 2010 10:35am
What is your setting for the MACD for the H1 chart?
Thanks
Quoting Walsanshu
I don't ck stochs on higher TF's, but it definitely pays to look at hourly MACD. If you trade in direction of hourly MACD, your odds go up tremendously.
Without vision, the people will perish.
  • #1,389
  • Mar 16, 2010 12:09pm Mar 16, 2010 12:09pm
Standard setting: 12,26,9
  • #1,390
  • Edited 3:57pm Mar 16, 2010 3:55pm | Edited 3:57pm
Hi all,

Here is a trade from yesterday, I obviously forgot to post it, good for 45 on the slow usdjpy and I was late by about 10pips, but just good old resistance trade, best entry would have been big red candle breaking down under the middle boly band and there was many hits of resistance by many candles previous to the big red candle.
hlass




any questions just ask
Attached Image (click to enlarge)
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  • #1,391
  • Mar 16, 2010 6:15pm Mar 16, 2010 6:15pm
Why did you think that one would stay down and not go back up?
  • #1,392
  • Mar 16, 2010 7:14pm Mar 16, 2010 7:14pm
Quoting agent6488
Why did you think that one would stay down and not go back up?
Agent,

the thought process behind the usdjpy trade is this in a nutshell, its been trapped in about a 100 pip range and not the easiest pair to play, but looking at bigger timeframes of month week and day and 4hr, there is a bit of a downward thrust and I was looking for 89.50 which it still might get to, but this is really not something for this thread,since most people here will not go past 1hr charts, and some only 15m charts, all of that is fine, but with my time constraints as of late, I have taken to bigger timeframes and over the last three months, all trades using 1hr charts or bigger, I have only had 1 loss in about 40 trades, not bad, not the biggest sample of trades, but its a start, I do trade over 90percent using the 15m 30m and 1hr combo for entry, but dont always have the time to sit by the charts, so one must do what they have to do, so I use fibs, s/r candle formations on bigger timeframes to get entry into trades, hope this helps, any questions, just ask.
hlass
  • #1,393
  • Mar 16, 2010 9:01pm Mar 16, 2010 9:01pm
Quoting HLass
Hi all,

Here is a trade from yesterday, I obviously forgot to post it, good for 45 on the slow usdjpy and I was late by about 10pips, but just good old resistance trade, best entry would have been big red candle breaking down under the middle boly band and there was many hits of resistance by many candles previous to the big red candle.
hlass


any questions just ask

Hi Hlass,

I didn't take the trade but it looks good.
I have a couple questions about your chart:
What consideration do you give to the daily range and pips to open? (Did you post the dashboard indicator earlier or can you tell me what it's called or where to find it?)
What role do your 2 MA's play in the trade? Also what are they?

I assume your BB's are the 2 SD. Some of the sites you very helpfully provided mention adding 1 SD and 3 SD bands for some methods. If you tried them, did they ever improve the results over just the 2 SD bands? (Although at your 90% success rate, I'm not sure just how much room there is for improvement)

Best regards,

JR

PS- the BB's make trades much easier for me. I'd looked at them along with dozens of other indicators a few years ago and didn't get how to use them effectively, so I dropped them and just kept trying other indicators. Many thanks to you for opening my eyes. It's been a huge boost to my confidence in the trades I take. Can't thank you enough.
  • #1,394
  • Mar 16, 2010 10:45pm Mar 16, 2010 10:45pm
JR,

Hi, I will unfortunately have to keep it short as its 1130pm est and im quite pooped, so if there is something u dont understand after I explain, just ask in more detail, but I will try to explain everything.

I have tried all types of bollies, best ones that work for me is the 2 standard deviation that I currently have on the charts, daily range is important when using 15 30 and 1hr charts, but sometimes my trades go for days, as im looking at longer timeframes due to lack of time, and in these cases, daily range is sort of difficult to use, best thing to do, pips to open is same thing as for bigger timeframes, pips to open is good if u r daytrading like 15m 30m and 1hr charts.

The dashboard, I know nothing of it, dont use and dont care to have anything on my charts except candles bollies and my two lines, aqua is 200ema set to close and purple is 50 simple moving average set to close, really used for pullbacks on 50sma and 200ema is used for bigger frames to know where we are, the middle boly is 20simple moving average and helps with many boly entries long or short off of this 20sma. Any thing not clear, just ask again, I will have more time tomorrow - I hope lol

hlass
  • #1,395
  • Mar 17, 2010 1:03am Mar 17, 2010 1:03am
Search this thread and THV system thread for dashboard. It combines other indicators with a snapshot view of the THV indicators.
  • #1,396
  • Mar 17, 2010 11:58am Mar 17, 2010 11:58am
Agent,

Thank you, but dont need a dashboard or any indicators, im fine, but again thanks, I made a quick trade today on gbpjpy still have 1/3 left but collected 35pips on it and getting ready to head out with wife, easy entry on 30m chart, any questions, just ask.

hlass
Attached Image (click to enlarge)
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  • #1,397
  • Mar 17, 2010 12:28pm Mar 17, 2010 12:28pm
Quoting HLass
JR,

Hi,
...
The dashboard, I know nothing of it, dont use and dont care to have anything on my charts except ... Any thing not clear, just ask again, I will have more time tomorrow - I hope lol

hlass
Sorry, I wasn't very clear what I meant by "dashboard."
I called "dashboard" the group of indicators you show on most of your posted charts in the upper right corner. It has a mtf grid of lights for ema, str, macd, shows the current price, spread, pips to open, hi to low, daily avg. I've seen it on numerous forums but have not been able to identify it. Was hoping you could tell me. Thanks!

JR
  • #1,398
  • Mar 17, 2010 12:30pm Mar 17, 2010 12:30pm
Hi Craig!

I see your reversal patterns are really the kind of bread and butter setup i was looking for.
However this week as we have this summer time change in the US and not in Europe i see the reason why it is occuring at 12EST more in the fact
that people have lunch in the us as it would be the end of the Uk session.
Is that true?
Is it more the lunch in the us than the closing of the UK session?

Please advise.

Thanks
  • #1,399
  • Mar 17, 2010 2:51pm Mar 17, 2010 2:51pm
Happens after the London session closes. Lots of pips. All Countertrend trades. Like taking candy from a baby. Just back from vacation and first day of trading.

29 pips on gbpusd
9 pips on audusd
19 pips on usdcad
14 pips on eurjpy
usdjpy -2 pips so far
21 pips on usdchf
14 pips on nzdusd
KYSS - KEEP YOU SCREEN SIMPLE - GO WITH THE HEARD - TREND IS YOUR FRIEND
  • #1,400
  • Mar 17, 2010 3:44pm Mar 17, 2010 3:44pm
Quoting carlen68
Happens after the London session closes.
29 pips on gbpusd
9 pips on audusd
19 pips on usdcad
14 pips on eurjpy
usdjpy -2 pips so far
21 pips on usdchf
14 pips on nzdusd
Thanks for sharing these, Carlen. Great discovery...another gem from the CH natural flow of the market.

Please, would you go over some of the details a bit more, especially concerning targets. I looked up all the examples you mentioned above and found the entries. You take the regular CH reversal candle entry, right?--not just an entry as soon as the London market closes? Your TPs is what I'm curious about...are you basically only shooting for the 23.6 fib line for profits?

I noticed some of the trades you mentioned today were not exactly the result of price being in the upper/lower third of the day's session...but they seemed to work anyways.

What are all the pairs you are looking at for these trades?

Glad to be talking about this again. The CH method just makes sense.

NeoRio
Sentiment: Short on cash. Long on hope.
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