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Craig Harris Stochastics Method

  • #2,321
  • Edited 9:07pm Aug 13, 2010 5:49pm | Edited 9:07pm
I was (well really I used the pivot before entry).....not this week. I've done better. I've been stopped out a few times. Usually it was a bad trade or one that would reverse very deep before heading back my way. About half the time it would ping pong before it hits my SL....I could get out at 1-3 pips before it falls a second time.

If it is a bad trade then I save 20 some pips. That's a lot of bad entries at a 1-3 pip loss . I can always re-enter if the candles say go.

I'm not at 8 wins and 2 loses per 10. So until I pick better, I must be more careful with my loses.

I've found that if it was a good entry it will usually go in my direction. A bad one will usually reverse around the time I go in. I can cut my loss quickly and at a minumum. After the initial trend change...if you're trading with the trend, you will often have a swing towards your take profit...almost immediately. A swing away is an indicator to me to be wary.

I'm not saying 35 doesn't work....it does. This seems to be working better for me. But it's only a week....I'll tell you if it goes bad. After trading today I'm up 94 pips for August. (I lost some pips today) That's 7.9 per trading day. (12 days) Is that great....no. I'm winning and I haven't been using this long....and I can't trade the london session. Mostly yen pairs. 6pm eastern to 1:00am. That's a hard time to trade! I lust for 2:00am to 8:00am. I may start going to bed at 7:00pm so I can rise at 3:00am.

I could show you examples but they will only show one of two things. A 35 pip SL or a 10-12 pip loss that looks bad and ends up well. There's more to this then the chart. It's a discipline thing.

I believe this is what Big "E" was implicating....correct me if I'm wrong "E".



Quoting Ultimatus
Hi Cugir,

So you don't use the normal 35 pip stop as per CH advice? How often do you get stopped out?

If you could post some chart examples of what you have said above it would be really helpful
  • #2,322
  • Edited 9:36pm Aug 13, 2010 9:14pm | Edited 9:36pm
Here's an interesting thing I spotted this week.

I'm now using trend lines for my final decision on trend direction. I love it because it puts me right at the beginning of a long run. As long as price stays above or below the line (short or long) then I can stay in and take profit or at least jump in and out as I trade with the trend. There are two red trendlines on this chart....the yellow line is the break

When the price breaks the trend line, it is usually starting to reverse. I have to wait for the second retrace to get the trendline. Here's a 4 hr chart.

Notice the lagg indicator....they (blue and red) are either all down or all up at the beginning of the long run. The run usually ends when the red/green histogram reaches the other side and rides along at max. The long trend is not officially over until the histogram starts to drop below (or up for short) the top dotted .35 line on the indicator. For the start of the trend...When the blue line and histogram start to move up past the .35 dotted line (long) then the trend is in full swing. Both must be moving up.

The boxed arrows show an interesting tidbit....a lot of times, after the trend change, there will be one last push up or down. Be careful the first few hours after the break of the line on the 15 minute chart.

My lesson for this week was....price action!!!!!! Follow it!!! It's the most important part!
Attached Image (click to enlarge)
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  • #2,323
  • Aug 14, 2010 7:01am Aug 14, 2010 7:01am
Upgrade to the latest version, Xi-Vlines v1.01. You can find it posted here in this thread.

Quoting jdcool10
Xaphod,

I have added a line to show me the close of the NY session at 23 GMT. I noticed that it doesn't appear automatically at the specified time. Rather I have to select a different time frame then revert back to the 15 min chart to see that line. How can I fix it? Thanks

PS. The other lines (WO, LC ) are doing fine.
  • #2,324
  • Aug 14, 2010 7:08am Aug 14, 2010 7:08am
Quoting eelfranz
Thanks E. (Big E, Mr. E?, preferred title?) I'll try that next time. I like the little profit tracker indicator on my chart. Is there a way I can move it to around the lower left of the screen? Currently it overlays the BN reference lines.
Great thread.

Anyone have the answer? I don't know. Big E
To increase the likelihood of receiving an answer it helps to provide as much information as possible. There are several profit tracker indicators and probably several versions of each. Something like:

Exact Name of indicator (File name).
Version number if applicable.
Link to a copy of said indicator.
  • #2,325
  • Aug 14, 2010 9:03am Aug 14, 2010 9:03am
Hello HLass,Neo,BigE,Xaphod and others who contribute so intesively to this thread.

Congratulations to your excellent work and share the experience with the system.

I am a CH student and know how profitable the system is, I was trying out your M15 swinger package for some weeks now and despite some minor issues The dashboard+AsianChannel works for me to some extend better than the original ones.
I like the simplicity. Although the original have more features, this ones are handy.

I took the time now to read the thread, and found out that HLass seems to combine the system with BollingerBand, in fact this is what I am doing too to identify the ranges and filter the minor Fractals which are inside BB(20,1) range. I am happy to see this and very interested to share experience with BB for trading if anyone is interested. the feedback to HLass's BB posts anywhere.

Based on the BB and pattern recognition, I have added a filtering feature for the Support+Resistance indicator and an additional "Consolidation" indicator which filters the highest probable consolidations out. It more or less is based on the same idea than Craigs IBOB wicks. But there are so many and it clutters the chart too much, thats why I didnt like them.
I believe this way the trader has a sharpended view on the relevant swings and greatly reduces false entries I believe. See the picture.

If there is interest in this feature I would be willing to work together with Xaphod to add this filter to his support indicator.

Xaphod, since I am using some of the the Xi indicators professionally, I would like to donate smth for your efforts in developing the indicators.

many pips to all
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  • #2,326
  • Aug 14, 2010 11:06am Aug 14, 2010 11:06am
Well, I know I would definitely be interested. It certainly looks promising.
  • #2,327
  • Aug 14, 2010 6:20pm Aug 14, 2010 6:20pm
eelfranz; to move an object rt click on chart then go to objects list. find the profit tracker in the list then edit. If the profit tracker has more than 1 line you may have to move each line indivdually. You have to experiment with the "y" axis or "x" axis to get it to show in the corner you prefer. Hope that works for you. I haven't tried it with the profit tracker but I have moved objects around my charts that way.

pressia; I'm interested in your added feature if Xaphad would agree.

Thanks to all who share on this thread.
Barry
  • #2,328
  • Aug 15, 2010 2:42am Aug 15, 2010 2:42am
I too am interested pressia, please continue to contribute!
  • #2,329
  • Aug 15, 2010 3:21am Aug 15, 2010 3:21am
its quite strange b/c, one, we are still promoting his product. two, the video is something you created, which CH had nothing to do with doing precisely what CH is promoting: his service. its quite strange that he requested for you to remove your work that he had nothing to do with.

if he is leaving "crumbs" for us, then why does he want you to take off your video that you created for us to chew on that promotes his methods?

seriously, you, xaphod and big E have done an amazing job promoting ch's method for free: why would any vendor prevent anyone from doing so? if someone was promoting my product that much for free...hell, why would i stop them? especially if they are doing an excellent job.

why does ch oppose only your video and not the excellent indis and templates(that you guys have created) that has entirely duplicated his method which he charges for? that's the $5000 question.



Quoting NeoRio
Sam, if you were around when I initially posted the video, you would have seen CH's comments and request to remove the video. Our intention here was never to steal anything, but just to use what was being made available for free....
  • #2,330
  • Edited 11:54am Aug 15, 2010 11:21am | Edited 11:54am
Notice the red trend lines on this chart. It shows the break in the downward red trendline.

Notice the second tap of the upward trend line (it's very close to a tap). (THE FIRST TAP IS AFTER THE BREAK OF THE DOWNWARD TREND LINE)

Notice the price action after the second tap.

Notice the TDI indicator. Notice how green/red cross and they are above the 50 line, above the yellow line.

Notice the large upward swing.

I've looked at a lot of these situations....it's not a fluke. I'll be trying to get the bulk of my pips this week after the second tap of the trend line. It doesn't always happen....that's where my tight SL comes into play. It's happens a lot! Look at your charts! Draw two trend lines. Over price coming down, under price going up. It works on all timeframes. It works with the CH stuff. I'm going to start doing long term 4 hr tf trades using this...

If it starts to go into consolidation after your entry....you'll see it in the TDI...tight weaves of the red and green. Wait to get close to entry price and get out. You can somewhat see it at the end of the chart. It somewhat consolidates...you probably could still make a little. It's not a hard consolidation. That's why I like this chart. It shows everything.
Attached Image (click to enlarge)
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  • #2,331
  • Aug 15, 2010 12:04pm Aug 15, 2010 12:04pm
samk090905,

I doubt anyone here has paid the 5k so it's a mute point. I do appreciate all the info on this thread. When I'm up to 40 pips a day and my account has grown to be very large, I'll probably throw CH a 5k bone just as a thanks.

I don't care what his intentions are....I care about results. That also applies to the information here. If something makes trading easier....add it.
  • #2,332
  • Aug 15, 2010 2:22pm Aug 15, 2010 2:22pm
i have a question for you when you feel ready unfortenatly i cant send u a pm or email.


best regards
  • #2,333
  • Edited 7:43pm Aug 15, 2010 6:59pm | Edited 7:43pm
Here's the first one of the week....a few hours after open....

The second touch of the downward trendline. First it breaks the upward trend line....going short. Then it creates a new downward trend line....the second touch...whammo!!! It seems like it almost always gives up the pips right at this spot.

G/J.......27 - 7 spread = 20 pips. Measure it at the yellow line! From the reversal candle entry,

Notice the second contact of the falling trendline. This will probably fall more. From the 38.2 to the 61 fib.....the stoch wasn't pretty but the break of the fib was.

P.S.....about 1/2 hour later....it's at 47 pips!!! 22:00 to about 23:15 gmt....7 to 8:15 eastern time.
Attached Image (click to enlarge)
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  • #2,334
  • Aug 15, 2010 9:13pm Aug 15, 2010 9:13pm
10:00pm eastern

Here's another one!!! Two taps on the new trendline. 20 pips up!!! You could wait for the cross of the green over the 50 line in the tdi if you want....that's 20 pips. I believe it will rise more. Everything is maxed down from the 30min to 4hr tf. Entry around the yellow verticle. You could go in earlier if you want. I like the upward green crossing the 50 line in the TDI

This is E/U at 10:00pm....Think about that!!!
Attached Image (click to enlarge)
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  • #2,335
  • Aug 16, 2010 8:06pm Aug 16, 2010 8:06pm
Quoting cugir321
10:00pm eastern

Here's another one!!! Two taps on the new trendline. 20 pips up!!! You could wait for the cross of the green over the 50 line in the tdi if you want....that's 20 pips. I believe it will rise more. Everything is maxed down from the 30min to 4hr tf. Entry around the yellow verticle. You could go in earlier if you want. I like the upward green crossing the 50 line in the TDI

This is E/U at 10:00pm....Think about that!!!
Thanks for sharing your charts, Cugir. They are a bit busy for me, but I think I understand that you are trading off of trend lines with other elements for confirmation. I've traded trend lines before...and while I like them (especially on higher TFs), I find that Fib retracements and extension lines are somewhat more reliable...at least for my style of trading.

IMO, the bottom line is, that money management and discipline in the end will be the main ingredients that keep you alive as a trader.

Best Regards
NeoRio
Sentiment: Short on cash. Long on hope.
  • #2,336
  • Edited 8:38pm Aug 16, 2010 8:10pm | Edited 8:38pm
Quoting pressla
I am a CH student and know how profitable the system is, I was trying out your M15 swinger package for some weeks now and despite some minor issues The dashboard+AsianChannel works for me to some extend better than the original ones.
I like the simplicity. Although the original have more features, this ones are handy.
Thank you for the kind words, glad you're finding it helpful.

Quoting pressla
I took the time now to read the thread, and found out that HLass seems to combine the system with BollingerBand, in fact this is what I am doing too to identify the ranges and filter the minor Fractals which are inside BB(20,1) range. I am happy to see this and very interested to share experience with BB for trading if anyone is interested. the feedback to HLass's BB posts anywhere.
Would be interested to hear more from you on the other filters you have explored using the indicators that you listed. I am also rather curious about your comments about BBs. I was somewhat of a student of BBs for about 4 months. In short, I banged my head against the wall trying to figure out how to trade BBs...and eventually, to no avail. I lost trade after trade using BBs as my main barometer of where we were in the swing, etc. For me, the BBs just did not work and did not represent a solid indication of where the high was going to retrace from or where the low was going to find consolidation.

Look forward to hearing more from you.

Best Regards
Sentiment: Short on cash. Long on hope.
  • #2,337
  • Aug 16, 2010 8:23pm Aug 16, 2010 8:23pm
Yes, I'm using it all....the basis is CH....I need the price movement to confirm the double tap.

My biggest question is.....

The break of the trendline and double tap on the new trend line seems to be the only way I can see the beginning of a long run. The stoch is not always pretty when this long run starts.

Is there any other way to spot it?



Quoting NeoRio
Thanks for sharing your charts, Cugir. They are a bit busy for me, but I think I understand that you are trading off of trend lines with other elements for confirmation. I've traded trend lines before...and while I like them (especially on higher TFs), I find that Fib retracements and extension lines are somewhat more reliable...at least for my style of trading.

IMO, the bottom line is, that money management and discipline in the end will be the main ingredients that keep you alive as a trader.

Best Regards
NeoRio
  • #2,338
  • Edited 8:52pm Aug 16, 2010 8:37pm | Edited 8:52pm
I'm sorry my chart is so busy....it's me! Ignore everything except the Fib, the two red solid trend lines and the yellow dotted verticle line where I entered.

The indicators are interesting. The TDI (red green lines) is wide and over the 50 line. The laggs are starting up. The stoch is again, not that pretty....the angle is a bit weak. I've seen the stoch like this a lot on this type of set up. RSI is green (I believe it means over 55). Goldminer is green.


What you said about the fib makes sense....I just made 19 pips on this trade. It was at the yellow verticle line. When I just looked at the fib, it had almost broke the 23.6 when I entered. I entered at 109.328. The fib was broke at 109.33. I'll pay more attention to the fib.

It's not as easy as I thought it would be. I got wacked a couple times when it really wasn't the second tap of the trendline. But, I did get in on the beginning of the long G/J run last night. I was right at the start.

Thanks for the feedback.


Quoting NeoRio
Thanks for sharing your charts, Cugir. They are a bit busy for me, but I think I understand that you are trading off of trend lines with other elements for confirmation. I've traded trend lines before...and while I like them (especially on higher TFs), I find that Fib retracements and extension lines are somewhat more reliable...at least for my style of trading.

IMO, the bottom line is, that money management and discipline in the end will be the main ingredients that keep you alive as a trader.

Best Regards
NeoRio
Attached Image (click to enlarge)
Click to Enlarge Name: trendbreak4.gif Size: 22 KB
  • #2,339
  • Aug 16, 2010 8:42pm Aug 16, 2010 8:42pm
Quoting samk090905
if he is leaving "crumbs" for us, then why does he want you to take off your video that you created for us to chew on that promotes his methods?
I don't find it hard to understand how somebody would feel offended, or slighted if others were taking their work and putting their own spin on it and then either re-marketing it, or giving it away from free. The free stuff that CH shared was stuff he himself decided to share. I think the difference is that we (the community) then took his free stuff, brushed it up and put it out again. While there is no rule against discussing other people's systems, there is the rule of decency...which is all I was trying to exercise in the first place by removing the video when CH requested.
Sentiment: Short on cash. Long on hope.
  • #2,340
  • Aug 16, 2010 8:50pm Aug 16, 2010 8:50pm
Quoting NeoRio
B&B, if you're looking for an EA to manage your TP (to scale out your position), here are 2 options. I like the "managetp" one better.

(If you have money to spend, there is a more professional grade option called Artemis Sitter. Unfortunately it cost $400, but it has the best options for scaling out in many parts. It also stealths your SL and TP so your broker can't see where your stops are. When I'm making good money on a daily basis I'll consider getting the Artemis Sitter.)

Regards,
Neo
Neo - thanks for all the indicators and EA's you've posted through this thread. I'm looking for an EA that will close half my position at a specific TP and them move my SL to break even on the remaining. I've had a look at the managetp EA and am wondering if this will accomplish this (there is no pdf explanation as there is for the TrailingStop EA). See if I understand this:

- "First Target" will take profit at 20 pips.
- "Close Lots" will close half my position if I specify what that is.

After that I'm not sure how to use the Stop Targets. Would I need to specify how many pips to my breakeven point?
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