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Craig Harris Stochastics Method

  • #1,721
  • May 13, 2010 12:31pm May 13, 2010 12:31pm
bythepound,
can you post your indicator (Period H1 Stoch) ?
it is interesting...
thank you
  • #1,722
  • May 13, 2010 2:22pm May 13, 2010 2:22pm
Quoting bythepound
Hi Neo -

You state that: "My preferred RC is a candle of a different color + either an IB/OB."

I attached a screen shot pointing to two RC that have an IB indication on them. Is that you mean by your statement?

Thanks
BTP
Yes, that's what I meant. When you have confluence of more than 1 determining factor, it adds credibility to a setup. CH will consider an IB, OB or a candle of a different color to be a valid RC, though I understand that his preferred RC is the candle of a different color (I think this, because in his free videos, those are the only ones he points out). Of course, after you spot an RC, you need to go through the checklist; 1) are we coming out of consolidation? 2) do we have Stoch agreement? 3) Are we trading away from the MAs, or do we have at least 35 pips between us and the next MA.

Kind Regards
Sentiment: Short on cash. Long on hope.
  • #1,723
  • May 13, 2010 2:30pm May 13, 2010 2:30pm
Quoting novice198
Append below is trade that i have taken on the break of the IB. The stochs were flattish and red when I entered however, as the trade developed the stchs turned up ( gets repainted as it is lagging indicator). The entry candle has now become OB. I am monitoring the trade, and would like to know if my entry was correct.

Cheers
Novice

PS the stop loss has been hit, so failed trade!!!
Big E answered your question well, but I thought I'd add one last point (of a more advanced nature) to your trade. It appears you took that trade after the London Close. You should be aware that the time of day that you trade has a big impact. While there are days when you will see big moves after LC (or during the Asian session, etc), *most* days there is very little activity. What CH teaches for after LC, is that the day's range has most likely been put in (which means you won't be seeing many more lows (or highs) beyond what the low (or high) was for the day already. If you take this into consideration, then you wouldn't be so determined to trade into the direction of the day's low (as you were doing with this trade). You'd be more interested in CTTs (counter). This isn't to say that 100% of the time it will always be that way, but as you study the market and the way price behaves after LC, you'll notice that the patterns that point to CTTs is very high. Then there are the cases where the low (or high) of the day can get retested (meaning that price will sometimes go back to the low (or high) of the day to test it. If you are far enough away from that price point, you can trade with that in mind.

Also remember that after LC, your targets should/could be lower than the usual 20+ pip targets we shoot for during the London session

Kind Regards,
NeoRio
Sentiment: Short on cash. Long on hope.
  • #1,724
  • May 13, 2010 6:27pm May 13, 2010 6:27pm
I have been reading through this wonderful thread, great work from Big E, Piptalk, Neo Rio, Pipcop, Hlass, Xaphod, Carlens68, Bpips, Craig Harris who's idea, we have all benefit immensely,etc.. the list continues, well done everybody.
IB & OB, GUbreak indies an invaluable tool, pls post a little more on it's application.
Thanks again.
  • #1,725
  • May 13, 2010 6:29pm May 13, 2010 6:29pm
Here you go.
BTP

Quoting GaPs
bythepound,
can you post your indicator (Period H1 Stoch) ?
it is interesting...
thank you
Attached File(s)
File Type: mq4 #MTF Stochastic v2.0.mq4   6 KB | 689 downloads
Without vision, the people will perish.
  • #1,726
  • May 13, 2010 11:56pm May 13, 2010 11:56pm
Quoting eelfranz
Novice.... You had NO CONFIRMATION on your Stoch to enter that trade. Sorry you lost. Make sure Stochastics is in the proper area before entering. Please review the videos. Big E
Thanks for the explanation. As SS is a lagging indicator and repaints, the SS position that I see when I enter the trade, changed unfavorably as the PA moved against my entry.
So even though it was flattish, it turned back up as the PA moved up. Incase the PA had moved down the SS would have turned down accordingly confirming a good entry.
How do we overcome this situation. Could it be that we wait for the SS to turn and then enter on the next candle at the expense of some pips, but the SS would be lined up to give us more confidence in the trade.
Your comments / views would be highly appreciated.
Cheers.
  • #1,727
  • May 13, 2010 11:58pm May 13, 2010 11:58pm
Quoting eelfranz
Novice... Note on this chart the angle of the Stochastics for these 2 short trades. This is what you want. Chart is using HA Candles. Big E
Thanks for the illustration to drive home the point about the SS line up and angle.

Cheers
Novice (hope to get rid of this nick in the coming months)
  • #1,728
  • May 14, 2010 12:07am May 14, 2010 12:07am
Quoting NeoRio
Big E answered your question well, but I thought I'd add one last point (of a more advanced nature) to your trade. It appears you took that trade after the London Close. You should be aware that the time of day that you trade has a big impact.
NeoRio
Thanks for the detailed explanation. Basis same there is no short trade and even the CTT trade a few candles earlier is risky due to the fact that the distance from PA to 20SMA was less than 35 pips. All in all I should not have traded at all either way around that time.

Cheers
Novice
  • #1,729
  • May 14, 2010 1:58am May 14, 2010 1:58am
Hi folks,

I have been reading this thread for the last week, from the start and watching the vid's. Today I took a couple of trades, one was stopped out, the other went to 40 pips, and I was like a rabbit in the headlights, waiting to take profit. In the end, 3 pips with the moved stop loss. At least I got that part right from the BigE!

I skipped ahead from page 44 to post this note.

I have a test account and a live account, and they are set up similarly but not the same. Nevertheless, what caught my eye was that the Stochastics were behaving differently in each account.; one was curling over; the other stuck along the top trying to get above the 100 line! Both are from the mt4 platform. One comes from the 'Indicators' folder, the other from the 'Custom Indicators' folder.
Which is the one that everyone uses? And if it is from the 'Indicators' folder, do you use Simple? Exponential? (Close/close) or some other setting(s)?

See the attached chart where the two indi's are shown.

Cheers,
MKHPD

BTW: Thanks to JD for pointing me to the Thread and to BigE for getting it going. Hope your health issues are but a passing memory.
Attached Image (click to enlarge)
Click to Enlarge Name: stochs_delta.jpg Size: 139 KB
  • #1,730
  • May 14, 2010 3:16am May 14, 2010 3:16am
Thank you 'ByThePound'...
I Hope this can help me much in making decision better....
Thank you....
  • #1,731
  • May 14, 2010 6:10am May 14, 2010 6:10am
Novice... Again... I personally use the TDI red green lines cross and the Stochs alignment to enter a trade. Just my way. CH does not use the TDI but it's on all my charts. Big E
  • #1,732
  • May 14, 2010 8:28am May 14, 2010 8:28am
Hi GaPs

I have looked at using multi-timeframe indicators for well over a year now. I have many good entries where the H1 stoch agreed with my m15 CH entries. However, there are many good Ch entries I would miss as a result of waiting for my Hi stoch to agree. When the H1 stoch agrees and you get fresh Ch entries on the M15, you are essentially taking Ch entries with the prevailing H1 trend - so the thought goes.

I am also looking at the M30 chart as a filter for M15 entries. In essence, if I see what appears to be a CH setup on the M30, but the M30 stoch is not quite ready, the M15 setup will usually give you a perfect set up. You might look at your M30 charts and observe what’s going on there and then compare to your M15 charts/CH entries. I will post more in the future as I conclude this study.

Ultimately, I am trying to reduce false CH entries by using some filter other than the 20 MA, BN, and S&R. The upper timeframes seem to provide better clues.

BTP
Quoting GaPs
Thank you 'ByThePound'...
I Hope this can help me much in making decision better....
Thank you....
Without vision, the people will perish.
  • #1,733
  • May 14, 2010 2:40pm May 14, 2010 2:40pm
BTP,
I agree with you, that's why i interest with that indi.
I still learning and try to find nice entry (high possibility profit and tight SL)
usually i look stoch at different TF manually (changing TF) and that often makes me missed good entry...
Beside stochastics, i use BBand and EMAs to avoid entry at 'squeezing Bband' and flatten EMAs..
I still in 'Fear 'N Greed' syndrome i guess...
I hope i can learn from you and everybody here...
  • #1,734
  • May 15, 2010 12:15am May 15, 2010 12:15am
Hi bythepound,

in your post of May 12/10 chart has volatility indicator, is any posibility that you can post it here and we can get it. Thanks
  • #1,735
  • May 15, 2010 12:23pm May 15, 2010 12:23pm
The volatility indicator was one I bought and can't post it, as it is password protected by the author.

Thanks
Quoting Nasir
Hi bythepound,

in your post of May 12/10 chart has volatility indicator, is any posibility that you can post it here and we can get it. Thanks
Without vision, the people will perish.
  • #1,736
  • Edited 12:43pm May 15, 2010 12:31pm | Edited 12:43pm
I have begun to monitor and participate in the Skype room, manly focusing on the retrace strategy. The main question I have is this:

After the London close, if the price is in the upper quarter (for potential short) or the lower quarter (for a potential long) are the retracement trades ONLY taken if there is room between your entry point price and the 23.6% line for a reasonable TP (15-20 pips)?

OR, can we take the trade anyway betting the price will go to and then beyond the 23.6% line to reach a TP of 15-20?

OR, should there be a minimum distance between the 0.0 line and the 23.6%, of say, 30-50 - or more pips?

Thanks
BTP
Without vision, the people will perish.
  • #1,737
  • May 16, 2010 4:30am May 16, 2010 4:30am
Hi Guys

I've been reading through the thread from the start and am half way there due to time constraints, so I'm continuing from somewhere in the middle whilst at the same time jumping to the front to see what's currently happening with the method. How can I get access to the skype room so I may observe?


Cheers
HX
  • #1,738
  • May 16, 2010 7:24am May 16, 2010 7:24am
Highlander, check with Lenny(wesupply2u). He has a skype room. We would welcome your participation.
  • #1,739
  • May 17, 2010 1:46am May 17, 2010 1:46am
Hi Rotunda, are you using this method in the room?
  • #1,740
  • May 17, 2010 2:08am May 17, 2010 2:08am
Can someone help me out. I had to wipe my pc clean and start over and i am missing a pivot indicator that shows monthly, weekly, daily pivot lines with the option of not having to show s/r lines, just the 3 pivots. No midlines or nothing. Extremely useful to show long term trend reversals and of course current long term trend. I cant remember which thread here i got it from but its the best damn pivot indi i ever used. Maybe Neo or a vet here has this one if you could post it or pm me, I thank you.

Ty
bulls
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