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Craig Harris Stochastics Method

  • #2,341
  • Aug 16, 2010 9:08pm Aug 16, 2010 9:08pm
Quoting chims
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....
Yes, that is a good EA and one I have used. PLEASE be sure to test it heavily on a demo account before using it live. These manager EAs can be tricky...and one little mistake can cost you money. After you take your first profit, you may need to set the SL to BE +1...I can't remember, but it might not work setting it to BE exactly (though I may be confusing it with IBFX's Partial Close EA)

Best Regards
Sentiment: Short on cash. Long on hope.
  • #2,342
  • Aug 16, 2010 9:56pm Aug 16, 2010 9:56pm
Quoting chims
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....
Hi, I am with Go Markets and they have just offered a trial of MyFX with attaches to your MT4 platform

You can set 4 different TP levels. I have only just downloaded it so i am not sure about moving the stop to BE.

This might be what you are looking for. Or just another option.

I found the video very helpful.

http://www.myfx.com.au/FAQ.aspx

http://www.myfx.com.au/Videos/

good luck
  • #2,343
  • Aug 16, 2010 10:11pm Aug 16, 2010 10:11pm
Quoting Patanya
Hi, I am with Go Markets and they have just offered a trial of MyFX with attaches to your MT4 platform

You can set 4 different TP levels. I have only just downloaded it so i am not sure about moving the stop to BE.

This might be what you are looking for. Or just another option.

I found the video very helpful.

http://www.myfx.com.au/FAQ.aspx

http://www.myfx.com.au/Videos/

good luck
Patanya - did you pay the $249? If not, what are the limitations of the free download?
  • #2,344
  • Aug 17, 2010 12:38am Aug 17, 2010 12:38am
Quoting chims
Patanya - did you pay the $249? If not, what are the limitations of the free download?
Hi Chims,

Go Markets are offering it to clients at a discount of $199.

I have only just downloaded the platform to get used to it. I am sure i will purchase it when my trial is finished. I feel it will surely save me in time and money. For me it fixes the limitations of the MT4 platform. And it is similar to the FXCM trading station which i find quick and simple to use.
  • #2,345
  • Aug 17, 2010 10:15am Aug 17, 2010 10:15am
Quoting cugir321
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?
If that particular combination works for you, fantastic. That's what you ultimately seek as a trader, isn't it: your personal, unique, individualized holy grail. The surest way not to succeed as a trader is to adopt a winning method that doesn't really fit you... even if it works extremely well for someone else. I should know... spent years doing just that.

Any other way to spot a long run early? Well, I am a fan of the stochastic agreement on 2 or even 3 timeframes, as well as potential-reversal price action, of course. For example, M15 and H1; or M15, H1 and H4; or (best before 7 am GMT) M5 and M15.

I need to see both the angle / start of a turn and the right cycle position (having made a full half-cycle trip to above / below 70-80 / 30-20) on the lowest tf SS. I need to see just the right cycle position (forget the angle / turn, unless you enjoy watching the train leave the station) on the higher tf SS. If the lowest tf SS shows divergence, even better, but not necessary. I don't specifically wait for such multi-tf SS agreement, as nice as it is to witness, but trade off PA and SS on M15, with SS on 1H still important, but not an automatic deal-breaker for entries between 7 and 8 am GMT.

Having said all that, I don't worry about whether it's going to be a long run or a short run. Surprise me, O Mistress Market.

Instead, I shoot for 10-20-30-40 pips on half of each position within 30-60 minutes, ideally well before the first European news release. (If I am wrong, simply SAR at double the size, except in front of news; no more doubling up.) Then move SL to BE and let the other half work for (sometimes) almost as long as the remainder of the London session, until 14:30-15:00 GMT, trailing 7-10 pips beyond the last closed hourly bar. This catches at least a couple of 80-100+ pip runs, under 4-8 hours each, in a typical week, per currency pair, in my case, GU, EU, EJ.
  • #2,346
  • Aug 17, 2010 3:53pm Aug 17, 2010 3:53pm
neo thank you for replying. i wholeheartedly agree with you on matters of etiquette...so im with you about the decency part. BUT, he asked you to remove YOUR video but didn't mind "YOU" duplicating his entire system?

the video is instructional in nature. the SYSTEM that's being duplicated is entirely HIS idea. isn't that strange? something is amiss here.


Quoting NeoRio
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....
  • #2,347
  • Aug 17, 2010 5:27pm Aug 17, 2010 5:27pm
Quoting NeoRio
Would be interested to hear more from you on the other filters you have explored using the indicators that you listed....
Hi Neo,

I documented some trades how I am using the consolidation with SS for entry and the SMAs + BB(20,2) as exits. I am using a special smoothed BB(20,2) (the red hull line) as exists or to identify the swings-extremum.

as you see in the picture I have added a "rectangle" feature to see more precise the consolidation. It does not draw them if the Fractals are inside the BB(20,1). Kinda primitive filter, but time showed quite effective. you miss some moves, but you miss more loosers to my experience so far.

yesterday was very well day. Hope you can understand the idea how the trades are executed with the help of BollingerBands.
Attached Image (click to enlarge)
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  • #2,348
  • Edited 8:41pm Aug 17, 2010 8:15pm | Edited 8:41pm
The second tap on the new trend line. This one broke the upward trend line the same time it made it's second tap on the downward trend line. Multiple pips!

Look at the indicators.

TDI - green breaks 50 line and has crossed red.

Laggs...maxed up....starting down

Stoch falling....still not a great angle! It seems like on these big moves the stoch is not at 4:00pm....it's more like 3:30.

RSI and Goldminer - red / yellow....moving to red/ red

These trend lines seem to supercede the price action a bit. I'd rather wait for the double tap. The double tap point is just about the normal CH entry point

This is why I'm setting my stop loss at 15 pips.....if it goes back up after all this then I've made a definate mistake. No need to take a big loss.

After it seems to have bottomed out, I draw a new downward trendline. This gives me a true line for the break upward. It would be from the candle below the orange arrow at the 23.6 fib...along the highest peaks downward. When it break this line....it's officially moving up. This is where the 5ma high helps. The dotted orange lines. The break of the trend line is usually around the 5 ma high.
Attached Image (click to enlarge)
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  • #2,349
  • Aug 18, 2010 5:37am Aug 18, 2010 5:37am
[quote=pressla;3955150]Hi Neo,

I documented some trades how I am using the consolidation with SS for entry and the SMAs + BB(20,2) as exits. I am using a special smoothed BB(20,2) (the red hull line) as exists or to identify the swings-extremum.

... quote]


Hi Pressla, mind to share your indicators?

Regards
chrisyeap
  • #2,350
  • Aug 18, 2010 9:08am Aug 18, 2010 9:08am
[quote=chrisyeap;3956744]
Quoting pressla
Hi Neo,

I documented some trades how I am using the consolidation with SS for entry and the SMAs + BB(20,2) as exits. I am using a special smoothed BB(20,2) (the red hull line) as exists or to identify the swings-extremum.

... quote]


Hi Pressla, mind to share your indicators?

Regards
chrisyeap
Hi chris,
of course. Especially the bluebox I am absolutely happy with the results purely based on the indicator this week, despite the fact that the market is still awful, I have a excellent hit rate.

But I have to change the Resistance lines indicator to the one being used in the M15 swinger package, since currently it is based on a modified resistance line indicator which copyright does not belong to me.

I would need to ask Xaphod to add the filter function to that one in order to work, or get the mq4 of that one to add the filter. otherwise it will be useless.

cheers
  • #2,351
  • Aug 18, 2010 7:54pm Aug 18, 2010 7:54pm
Sam.... I'd appreciate it if you would drop the questions as to why NeoRio did this or that with the info he helped develop. He has worked very hard to help many traders on this thread to this point. Thanks, Big E
  • #2,352
  • Aug 18, 2010 8:19pm Aug 18, 2010 8:19pm
umm...did you not see my post? that's precisely what im saying. you, xaphod and neo have done an excellent job. that's the IRONY of this whole thing. CH tells NEO to stop posting an excellent video that he made that helps all of us BUT doesnt say a peep if you completely DUPLICATE his entire system?

something just doesnt seem right, that's all.


Quoting eelfranz
Sam.... I'd appreciate it if you would drop the questions as to why NeoRio did this or that with the info he helped develop. He has worked very hard to help many traders on this thread to this point. Thanks, Big E
  • #2,353
  • Aug 19, 2010 4:01am Aug 19, 2010 4:01am
[quote=pressla;3957391]
Quoting chrisyeap

But I have to change the Resistance lines indicator to the one being used in the M15 swinger package, since currently it is based on a modified resistance line indicator which copyright does not belong to me.

I would need to ask Xaphod to add the filter function to that one in order to work, or get the mq4 of that one to add the filter. otherwise it will be useless.
Hi,

Sorry, I've not been keeping up with communication here. I'll be happy to help out with writing the filter you need to make the indicator work.

Cheers!
  • #2,354
  • Aug 19, 2010 5:33am Aug 19, 2010 5:33am
Quoting samk090905
umm...did you not see my post? that's precisely what im saying. you, xaphod and neo have done an excellent job. that's the IRONY of this whole thing. CH tells NEO to stop posting an excellent video that he made that helps all of us BUT doesnt say a peep if you completely DUPLICATE his entire system?

something just doesnt seem right, that's all.
Why does it matter..? Learn the method and forget all the other stuff you're worried about.
  • #2,355
  • Aug 19, 2010 6:10am Aug 19, 2010 6:10am
I just got back to check this thread again after I checked few weeks back. I see more and more traders talking about using differant indicators now are we going off from CH method here? he only used one indicator stochastics. Personaly I dont even use that some time I use MACD my goal is to pull that out of my chart soon.


Good luck with all your trading.
  • #2,356
  • Aug 19, 2010 8:22am Aug 19, 2010 8:22am
Hey Everybody,
This is a great thread and thanks to everyone who has contributed to it. I had one particular question in regards to news events. I follow the rule that a trade should not be executed within a half an hour of the first news event. I was wondering can you execute an order after the news event?

For example today 8/19/2010 at 8:30am (EST) or 1530GMT the US Unemployment Claims were released. Based upon the entry criteria established by CH I took a buy order around 8:40am (EST) or 1540GMT in the EUR/USD and GBPUSD and was very successful. Do you guys also trade after a news event? I do realize it is a personal preference and it is risky to trade around a news event, but have you been successful trading after news events (if the CH entry criteria are meet as well) or do you normally wait.

Essentially what would Craig Harris do after news events?

Thanks
  • #2,357
  • Aug 19, 2010 2:14pm Aug 19, 2010 2:14pm
Hi Neo,

Although I have downloaded the new version 1.01 of the Xi-V lines as suggested by Xapho, they are still not updating on time automatically. So, I assume that you do not have this issue. Would you be kind to pass me your newest template of the M15 swinger? I would appreciate very much. Thanks
  • #2,358
  • Aug 19, 2010 4:19pm Aug 19, 2010 4:19pm
b-rock... Exactly the point. Thank you.

Welcome to all new members. Congrats to all making pips with this method.

Neo... Miss your smiling posts :-)

Big E
  • #2,359
  • Aug 19, 2010 4:32pm Aug 19, 2010 4:32pm
wow...this is even more weird. it sounds like you guys are on the same team. almost, so biased to CH's method that its being promoted. failing to recognize the discrepancies.

plus, neo had told me that he removed it b/c of proprietary reasons not as a moral obligation.

i agree, learning the method is key; but if something isn't right, i think for the sake of all members that it be pointed out.

plus, isn't it strange that most of the people commenting are relatively "new members."

something is definitely off.
Quoting eelfranz
b-rock... Exactly the point. Thank you.

Welcome to all new members. Congrats to all making pips with this method.

Neo... Miss your smiling posts :-)

Big E
  • #2,360
  • Aug 19, 2010 5:38pm Aug 19, 2010 5:38pm
Quoting NiceGuyEddy
...
Essentially what would Craig Harris do after news events?
After a news event, you may trade this method once increased volatility, if any, calms down and price action resumes its "normal" ebb and flow, following a visible disruption / price shock, again, if any.

That can be anywhere from:

- a few minutes or even less (if the news had little or no apparent impact)...

- to 15-30-45 minutes (not uncommon)...

- to an hour, two or a lot longer (NFP, FOMC, ECB, BoE, etc.; or some major unscheduled news like a central bank intervention or a key geopolitical event, often unknown and unknowable to most of us at the time, while it's actually tradeable).
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