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Craig Harris Stochastics Method

  • #2,101
  • Jul 15, 2010 4:22pm Jul 15, 2010 4:22pm
This Monday the 19th OU forex is sponsoring a webinar by Craig Harris. The time is 9pm est. Here is the link to register.
http://www.craigharris-members-only.com/idevaffiliate/idevaffiliate.php?id=109_8
  • #2,102
  • Jul 15, 2010 4:30pm Jul 15, 2010 4:30pm
this link does not work.
  • #2,103
  • Jul 15, 2010 7:35pm Jul 15, 2010 7:35pm
Quoting samk090905
this link does not work.
Copy and paste the text of the link in your browser, not the link location. The link does not work...as you noted.
Read the entire thread BEFORE you ask questions!
  • #2,104
  • Jul 16, 2010 1:13am Jul 16, 2010 1:13am
Sorry about the earlier mistake. This is the corrected link to register for the Craig Harris webinar on Monday the 19th.

http://www.optionsuniversity.com/craigweb/
  • #2,105
  • Edited 6:33am Jul 16, 2010 1:39am | Edited 6:33am
Hi Traders

Below is an audio edited extracts from one of the wedinar that was posted earlier. I find it useful and used to run it on the background of my MT4.
However I try to upload the mp3 to this threat but unsucessful on two occashions (probably too big a file!). Any suggession from fellow traders!!

Any one interested in this SymmTime a multi, timezone clock with analog/digital selectable display can download from this site HERE.
Attached Image (click to enlarge)
Click to Enlarge Name: SymmTime.jpg Size: 73 KB
  • #2,106
  • Jul 16, 2010 2:29am Jul 16, 2010 2:29am
thanks star.
  • #2,107
  • Jul 16, 2010 4:07pm Jul 16, 2010 4:07pm
After studying Craigs method for a long time I've found the following observations: Instead of average swings being 30-60 pips I'd say they are 20-40 average. I also think that when you enter a trade that you should shoot for 12-18 pips average as long as it's not news related. While trading the London Session you should be able to get your 30-40 pips average in 3 trades.

I always trade with 2 mini or full lots. If I have a loser trade (NORMALLY MY FAULT) I always double up my lots on my next trade...always. Only once have I not made all my pips back + profit.
If that trade loses... do not keep doubling.

It would be good to review this short video for those of you having problems: http://www.the-natural-flow.com/back...-Numbers2.html

By this time I have watched all the videos several dozen times each and I always pick up something new or am reminded of something I had forgotten.

Trade Demo until your confident.

Practice = Success

Hope your making many pips. Big E
  • #2,108
  • Jul 16, 2010 4:35pm Jul 16, 2010 4:35pm
Sam..... On my charts you will normally only see the Stoch & TDI Indicators and a 21EMA Moving Average. I like clean charts to trade from and don't use any of the other indicators or stuff presented along thru this thread. Just my style... simple and uncluttered. Others love all the do-dads on theirs... their style.

What caused me to prefer the 4 hour and above timeframes to trade is the fact I've spent thousands of hours studying charts and I got burned out on having to intently watch charts in the 5/15 minute timeframes. This way I only take a quick glance every couple of hours during the day or the 10PM, 2AM and 6AM candle over night in my time zone on the 4 hour chart.

When the TDI green & red cross and the Stoch lines up... your gonna make pips.

Big E
  • #2,109
  • Jul 16, 2010 5:55pm Jul 16, 2010 5:55pm
thank you big E for that post. couple of urgent matters that may help clarify for others as well; so long as someone wise enough is willing to drop some pearls of wisdom for us

 

  1. average pips: here is an example (i did some calculations for the last 4months). on AVERAGE, eur/usd on a wednesday moves at most 55pips from 8 to 9gmt (london open) 50 pips from 9-10 gmt, and the largest movement is 60 pips at 14-15 gmt (when london and new york are both open). when taking a trade, say on a wednesday, during the london open: how do we know that it already hasn't moved it's average already? does the swing high/low tell us this?
  2. adjusting the asian indi: no one seems to be able to answer this accurately. i watched neo's video and it mentioned that the asian session is from 22 to 4 (isn't it actually 24 to 8 gmt?) so if my broker is gmt +1--do i put then 1 to 9 on my asian session indi?

can someone, please, answer these 2 questions? please.

  • #2,110
  • Edited 8:19pm Jul 16, 2010 8:09pm | Edited 8:19pm
Quoting samk090905
average pips: here is an example (i did some calculations for the last 4months). on AVERAGE, eur/usd on a wednesday moves at most 55pips from 8 to 9gmt (london open) 50 pips from 9-10 gmt, and the largest movement is 60 pips at 14-15 gmt (when london and new york are both open). when taking a trade, say on a wednesday, during the london open: how do we know that it already hasn't moved it's average already? does the swing high/low tell us this?
You take your trade in relation to the latest swing high/low (fractal). The closer you are to the fractal, the better.

Quoting samk090905
adjusting the asian indi: no one seems to be able to answer this accurately. i watched neo's video and it mentioned that the asian session is from 22 to 4 (isn't it actually 24 to 8 gmt?) so if my broker is gmt +1--do i put then 1 to 9 on my asian session indi?can someone, please, answer these 2 questions? please.
The Asian session is from 22:00 to 04:00 GMT/UTC: http://www.forexfactory.com/showpost...postcount=1860

Go to timeanddate.com or some other site that can provide you with the current GMT time. When it is 22:00 hours GMT, whatever time it is in your trading platform is the start of the asian session. Add 6 hours to that for the end time.

Note that Wellington/Sydney switch to and from DST at different times compared to Europe/USA so the time may be off 1 hour for few weeks each year if you don't correct for it. There is usually not much volatility at the start of the session so it is not that important.
  • #2,111
  • Jul 16, 2010 11:12pm Jul 16, 2010 11:12pm
Quoting nhct
I've been asked to elaborate on my admittedly made quickly in passing "time factor" comment above. It does deserve more details.
Wow nhct, it was quite a treat to read your post. I saw it a couple days ago when you posted it, but did not have the time to read it...so I "put it on the shelf" waiting for when I had the time. I felt like I was reading a professionally written book on trading! Thanks for sharing.

BTW, I wanted to thank you for your very good reply to my tax post. I still am going to follow-up with a couple clarifications as soon as I have a free minute.

Kind Regards,
Neo
Sentiment: Short on cash. Long on hope.
  • #2,112
  • Jul 16, 2010 11:19pm Jul 16, 2010 11:19pm
Quoting eelfranz
I know that NeoRio has done well trading this method from comments he's made and I'm sure he has tweeked it a little here and there to fit his personality and trading style.
Thanks, Big E. Yes, I'm happy to be able to say that my trading has improved immensely over the last 6 months or so. I have made steady gains each month and have not had a losing month yet. I treat my trading on a daily basis and don't like to end a day in the negative...and since I devote between 3 hours and 5 hours of solid trading, I do all Swinger trades on the M15 as that's the TF it is intended for. I have several other methods I trade as well, some on higher TFs...and for those higher TF methods, I don't have to be at the computer staring at the screen the whole time, so I understand how the H4 appeals to you. For the sake of those wondering how you trade the CH method on the H4, we should probably let them know you don't trade the CH method; instead you have gleaned the bits and pieces that suit your style and compliment your trading techniques and you've incorporated those theories into your style with the Heiken Ashi candles.

BTW, Big E is a steady trader with big pip counts every day! (Quite the hobby, Big E!)

Best Regards,
NeoRio
Sentiment: Short on cash. Long on hope.
  • #2,113
  • Jul 17, 2010 9:23am Jul 17, 2010 9:23am
My skype name is dpowli.
Thank you.
  • #2,114
  • Jul 17, 2010 11:49am Jul 17, 2010 11:49am
Eelfranz and NeoRio:

Once again thanks for all your time and help.

Question, I only have a few hours in the morning to trade the market.
Mountain Time from 7:30 a.m. to about 10:00 every day. It seems to me that the 15 minute chart is very slow and I would like to trade the 5 minute
chart as I only have just a few hours every day.

Would C.H. set-up work with the 5 minute chart on the N/Y open?
Or would I need to modify the settings a bit. I only have just a couple of
hours a day to trade. If I do need to modify the settings what would you
suggest they be?

Thanks

snarlyjack
  • #2,115
  • Jul 17, 2010 5:44pm Jul 17, 2010 5:44pm
Quoting NeoRio
Lately it seems the i-ProfitTracker indicator I posted some weeks ago has become popular for several traders here, however some newer traders were having a hard time by the fact that the 5 decimal brokers show an extra digit (eg 100 instead of 10) in the figures.

Big thanks to Xaphod for updating this indicator to compensate for the 5 digit brokers.

Enjoy.

NeoRio
Ibfx just changed their live server to 5 decimals yesterday and its a big pain. This is just what the doctor ordered for one of my favorite indis. Big thanks Xaphod & Neo!
  • #2,116
  • Jul 17, 2010 7:38pm Jul 17, 2010 7:38pm
Xaphod, if you ever invent an EA for this method, I think you'd be looking at a nice comfortable early retirement, probably someplace tropical. just a thought
  • #2,117
  • Jul 17, 2010 11:15pm Jul 17, 2010 11:15pm
Quoting snarlyjack
Eelfranz and NeoRio:Would C.H. set-up work with the 5 minute chart on the N/Y open?
Or would I need to modify the settings a bit. I only have just a couple of
hours a day to trade. If I do need to modify the settings what would you
suggest they be?

Thanks

snarlyjack
Hi there. My suggestion would be not to try and make the CH method of trading fit into the M5 TF. It's not intended for the M5 and there are no tweaks to this system that will push the win ration up even close to 70%. I could be wrong, but that is my initial feeling.

If you really want to trade the M5 because of the time frame you have to work with; I'd suggest you look around (right here on the FF, or other forums) for dedicated M5 systems. My other suggestion (which I think may even be better) would be for you to learn to trade higher TFs. I'm not sure if you have joined Lenny's "H4 & D1 Fib Hit" Skype room, if not, I'd suggest you at least look into his Fib Hit method of trading. His trading style is very accurate and I think he probably averages well over 70% win ratio. Of course, it is an art to learn and may not be to your liking, but considering your time predicament, it might open up some opportunity for you. With higher TF trading methods, there are options to set your pending orders and then walk away. You also stay in your trades much longer.

Just some ideas,
NeoRio
Sentiment: Short on cash. Long on hope.
  • #2,118
  • Jul 17, 2010 11:19pm Jul 17, 2010 11:19pm
2 last things I forgot to mention;

 

  1. Why not look into some M1 TF trading methods? I have seen a few interesting ones and the likeliness of finding trades with very little PA is higher.
  2. The other thing was about CH's London Close trades. I know CH teaches his students how to trade for about 3 hours after the LC while the NY session is still open. I'm not sure what time exactly you have to trade, but if it is around the LC, then you might be able to cash in on some good LC trades by using CH's Fib retracement trade at that time of day.

Best Regards

Sentiment: Short on cash. Long on hope.
  • #2,119
  • Jul 18, 2010 12:23am Jul 18, 2010 12:23am
Whew, just finished reading the entire thread, has taken me a couple of days!
Have been trading forex live for just over two years now, with moderate success, albeit inconsistent.
I have done some demo trades using this method and can understand the reasoning behind its consistency-excellent!
Great contributions from all. I"ll demo a little more, then trade micro's and mini's.

All the best, and the best to all,
Pete
  • #2,120
  • Jul 18, 2010 1:04am Jul 18, 2010 1:04am
First of all involved, thanks for an amazing thread. I am very impressed and can't wait to start trying this out on demo next week to start.

My broker is GMT +1. Do I have to adjust anything on the indicators for the different sessions or is that built in?

Thank
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