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Craig Harris Stochastics Method

  • #1,941
  • Jun 23, 2010 4:41am Jun 23, 2010 4:41am
Quoting chims
I'm not sure I follow. I agree that I want it to calculate my daily % based on my full acount, but this IS what I started the day with. For example, I started my demo account with $500 on June 6th. This morning my account was at $827.33. I made two trades today for a total profit of $105.66. I would expect my daily percent profit to read 12.77% profit, but in fact it reads 21.13%, which is the profit based on a starting value of $500. Am I still misunderstanding?
Hmmm, that sounds like an error. The only time the numbers messed up on my was when I was trading a tiny account micro lots...then it did not keep the proper figures.
Sentiment: Short on cash. Long on hope.
  • #1,942
  • Jun 23, 2010 4:44am Jun 23, 2010 4:44am
Quoting highlanderx
Hi Neo, a quick techie question.

I'm having difficulty installing some indi's. I have no problem if they have the EX4 extension and pop them into the experts/indicators folder then they show up in the navigation pane under custom indicators. But I've been trying to place MQ4 indi's that I got a while back on the thread but cant see them after I install them. Help?

Cheers

HX
This has also happened to me on a few occassions and I don't know why. Usually the mq4 is the better of the 2 to have (ex4 or mq4)...as the mq4 is the source file and will allow you to edit it and then compile it. So, I'm not sure why some mq4s will show up in the MT4 platform but won't allow you to apply them. Maybe this is one for Xaphod to answer.

Kind Regards
Sentiment: Short on cash. Long on hope.
  • #1,943
  • Jun 23, 2010 4:48am Jun 23, 2010 4:48am
Quoting highlanderx
Hi Neo, a quick techie question.

I'm having difficulty installing some indi's. I have no problem if they have the EX4 extension and pop them into the experts/indicators folder then they show up in the navigation pane under custom indicators. But I've been trying to place MQ4 indi's that I got a while back on the thread but cant see them after I install them. Help?

Cheers

HX
Hi, HX,

Hope Neo doesn't mind my answering this question. An .mq4 file contains the source code, while .ex4 file is the compiled version of the source code. MetaTrader requires .ex4 file to be in the experts indicators folder, for you to be able to use the indicator.

Normally, MT4 should compile any as yet uncompiled .mq4 files automatically after launch. If you have placed an .mq4 file in the correct folder, then closed and reopened MT4 but still don't see a particular indy in the Navigator panel, you can always force an immediate compilation yourself:

F4 to open the Editor, open the .mq4 file, F5 to compile, exit Editor, close and restart MT4.

Now you should be able to see and use the indy.
  • #1,944
  • Edited 5:58am Jun 23, 2010 4:51am | Edited 5:58am
Quoting nhct
Hi, HX,

Hope Neo doesn't mind my answering this question....
Thanks for that nhtc I shall try it when I get the chance.

HX

Edit: That's done the job many thanks ...
  • #1,945
  • Jun 23, 2010 10:07am Jun 23, 2010 10:07am
Quoting Saintsurfer
When Tokio chanel range is small i expect break out of the range and will not trade inside it. If it is much wider it is more usuall price will stay inside it for longer time and it means bounses are very posible and more likely.
Thanks for the response.

That's what I thought. I just wanted confirmation from someone who has been forward testing this strategy for a while.

Also I want to thank Big E, Neo, Xaphod and all the others who have contributed to this thread. Also if C Harris is lurking here thanks for the free information you have shared with us.
  • #1,946
  • Jun 23, 2010 12:25pm Jun 23, 2010 12:25pm
Quoting Tony Montana
So.. i took my first swinger trade (in demo). Ive been finding it much easier to spot the moves in 5M rather than 15M. Not sure if this is going to work out or whether im going to suffer more whiplash than on the 15M... will have to wait and see i guess.
Tony, your trade setup looked great to me. I think you have all the fundamentals down--recognizing the reversal candle, trading away from the fractal formation and moving averages, stoch agreement, big numbers, trade management, acceptable risk, etc.

I might suggest just focusing on the M15 though instead of the M5. It takes more patience, but the profits are greater and more reliable. As you probably know, the lower the TF, the more "noise" is associated with the price action. Personally, I am also finding that monitoring the H1 Stoch is a valuable tool to filter out some bad trades and keep you in good trades. E.g., if H1 Stoch is showing momentum to the upside, we have a higher probability trade if we go long on the M15. I do not think this is necessarily part of the M15 Swing trade rules, but it has been working very well for me lately.

Anyway, good trading!
  • #1,947
  • Jun 23, 2010 12:28pm Jun 23, 2010 12:28pm
Quoting Bodhistu
Tony, your trade setup looked great to me. I think you have all the fundamentals down--recognizing the reversal candle, trading away from the fractal formation and moving averages, stoch agreement, big numbers, trade management, acceptable risk, etc.

I might suggest just focusing on the M15 though instead of the M5. It takes more patience, but the profits are greater and more reliable. As you probably know, the lower the TF, the more "noise" is associated with the price action. Personally, I am also finding that monitoring the H1 Stoch is...
Hi Bodhitsu, how does one add the 1HR stochs?

Thanks

HX
  • #1,948
  • Jun 23, 2010 12:37pm Jun 23, 2010 12:37pm
Quoting highlanderx
Hi Bodhitsu, how does one add the 1HR stochs?

Thanks

HX
Highlander, you could just switch over to the H1 TF and see what's going on with the Stochastics on that chart, or you can attach the #MTF Stoch indicator, which is my preferred way to do it.

See post #1725 for the indicator.

This indicator allows you to set the parameters of the H1 stoch to whatever settings you want: 8,3,3 or 5,3,3 or 3,3,3 etc. I think this is a very useful tool to have.
  • #1,949
  • Jun 23, 2010 3:04pm Jun 23, 2010 3:04pm
Quoting highlanderx
Thanks for that nhtc I shall try it when I get the chance.

HX

Edit: That's done the job many thanks ...
Cool... any time.
  • #1,950
  • Jun 23, 2010 3:09pm Jun 23, 2010 3:09pm
I have not been able to participate in the Skype chat rooom so far. Yes, Lenny / wesupply2u has added my user name to his contacts list 2 days ago.

Extensive Googling didn't help. Not a chat room newbie, just never used the Skype version. Incidentally, I know that I am not the only one here in the same position, unable to join the chat room.

Would someone please describe exactly what you do after launching Skype? Thanks.
  • #1,951
  • Jun 24, 2010 4:18am Jun 24, 2010 4:18am
Quoting Reece2076
There is just one thing that I don't think was made clear. Or as I was reading this thread it seemed people had different takes on this. And that is, if the range of the "Tokyo channel" is less than 40 pips from 22gmt - 4 gmt do you not trade that currency pair at all the rest of the day?
As soon is exceeds 40 pips, it indicates that the swings are large enough and you can trade.

Quoting Reece2076
So at the point the range does exceed 40 pips after 4 gmt is it ok to trade this system and expect 30-60 pip swings.
Yes. But there is no guarantee that the swings will be 30-60 pips. Only a higher probability.
  • #1,952
  • Jun 24, 2010 4:26am Jun 24, 2010 4:26am
Quoting NeoRio
This has also happened to me on a few occasions and I don't know why. Usually the mq4 is the better of the 2 to have (ex4 or mq4)...as the mq4 is the source file and will allow you to edit it and then compile it. So, I'm not sure why some mq4s will show up in the MT4 platform but won't allow you to apply them. Maybe this is one for Xaphod to answer.
Could be that there is a faulty .mq4 file in the folder that causes the compiler to crash and it therefore does not finish compiling all the indicators.

When I start having such problems I usually start afresh by doing a clean installation of MT4.
  • #1,953
  • Edited 6:36am Jun 24, 2010 6:26am | Edited 6:36am
Quoting chewz
Hey all, havent posted in this thread for awhile been busy with the trading. Just a question - after we enter a trade (when all criteria are met) sometimes, the when the candle we entered on has finished the stochs change from the correct angles and finish up a no trade angle. This is annoying when backtesting, what are peoples views on this?

-andy
We know that the stochastic is a lagging indicator, as all indicators intrinsically are. We also know that the on-steroids 8-3-3 version trades off, for better or worse, less lag for more vulnerability to a single bar's worth of data. Note how sharply both its value and angle may change at the close of a given 15m (or any other) bar. The angle is notoriously prone to repainting; therefore, its function is to serve as an auxiliary confirmation criterion, distinctly secondary to price action.

In my view, what you've described is a rather inevitable, "normal" part of trading this method. It doesn't bother me. I watch the price action and keep asking the same question, over and over again: "Are there early warning signs that a continuation of the swing currently under way is losing momentum, is stalling, is reversing?"

Personally, I have found it a useful filter over the years to think twice about entering a trade unless the stoch has completed a full, properly paced (for a given currency pair) cycle from below 30 to above 70 or vice versa. (20 and 80 is nice, but not necessary.) If the stoch makes a sharp U-turn at, say, 50, that's usually a no trade for me, even if the angle is singing its siren song. However, that filter is not an official part of this system.
  • #1,954
  • Jun 24, 2010 10:08am Jun 24, 2010 10:08am
Hi Big E


Pardon me for this noobie question i might have missed this concept but i did try to read the thread from the beginning but i could not figure out the concept of "tokyo channel", whether that' s an indicator or timezone.
I did understand that on the 15 min charts the difference between high & low should be atleast in between 30 - 60 pips as per craig harris method but can' t understand "tokyo channel"
Please throw some light on it.


Regards
.Hawk.
  • #1,955
  • Jun 24, 2010 11:47am Jun 24, 2010 11:47am
Quoting Xaphod
As soon is exceeds 40 pips, it indicates that the swings are large enough and you can trade.


Yes. But there is no guarantee that the swings will be 30-60 pips. Only a higher probability.
Thanks for the tips.
  • #1,956
  • Jun 24, 2010 12:07pm Jun 24, 2010 12:07pm
Man isn't that 1.5000 a key level for Cable !!

HX
  • #1,957
  • Jun 24, 2010 4:32pm Jun 24, 2010 4:32pm
Quoting .Hawk.
Hi Big E


Pardon me for this noobie question i might have missed this concept but i did try to read the thread from the beginning but i could not figure out the concept of "tokyo channel", whether that' s an indicator or timezone.
I did understand that on the 15 min charts the difference between high & low should be atleast in between 30 - 60 pips as per craig harris method but can' t understand "tokyo channel"
Please throw some light on it.


Regards
.Hawk.

The Tokyo Channel is neither an indicator nor a timezone; it is a price range established during a specific time frame.

Sounds like you've somehow missed the essential videos. I would strongly suggest that you put your reading of this thread on hold, until you've watched all 7 free videos enough times to know them in your sleep. Just go to the first page and follow Big E's video links.
  • #1,958
  • Jun 24, 2010 5:00pm Jun 24, 2010 5:00pm
thanks nhct

yes, i have not watched the videos due to some reasons with my pc.
i will surely watch them couple of times.

Regards
.Hawk.
  • #1,959
  • Jun 24, 2010 7:09pm Jun 24, 2010 7:09pm
A couple revisions.

NeoRio
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Sentiment: Short on cash. Long on hope.
  • #1,960
  • Jun 25, 2010 1:35pm Jun 25, 2010 1:35pm
NeoRio..... I don't know if you remember or not but this thread had a different name initally and somewhere along the way FF changed it to it's current name. They did not ask me, they just changed it.
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