Craig Harris Stochastics Method

I guess what I really want is an email alert when the green and red touch

Just wanted to pass on this tid bit... At about 8:45am Pacific Time on the G/U... 3-4 days a week there is a reversal or a movement worth some pips normally... Check out your time zone on that chart, G/U, 5 min.....

I get lots of P.M.'s from traders saying they can't make 25 pips a day... Try trading the Opens of any market. Normally there is momentum when a new market opens. For example this morning at the N.Y. open I entered on the G/U (5 min.) a long at 5:10am Pacific and exited at 5:25am for 31 pips... then at 6am Pacific time I went short until 6:10am for another 24 pips. .... 25 minutes total in the market then I went back to sleep...

I'm no smarter than you are... and many of you are sharper than I am. I've spent hundreds of hours studying charts and paying my dues and I continue doing that same thing every day to gleen little tid bits here and there which help my trading every day.

We want you to be successful and we try hard by sharing the knowledge we've learned along the way... Many others here on this thread have worked very hard to share their knowledge with you.

Please ask your questions and post your charts... it helps us all...

Big E

Excellent post. BTW, did you trade with your chart #1 or your chart #2 today?

Cindy

Cindy... I traded using my template with the 5 sma which is posted a few pages back... thanks

Good points, Big E. Market opens are a great time to trade.

Trading is not an easy thing...actually it's very difficult. I find that when I do bad in my trading (when I lose more than I win) it is normally ME that gets in the way, not my method or system of trading. If your goal is to make 40 pips a day...and the first trade (or 2) of the day are losers for 20-35 pips, then in order to make your daily goal, now you have to make anywhere from 70-120 pips to make those original 40 pips. It is in between that time, when you're trying to dig yourself back out of the hole that things can go very wrong and your mind can become your enemy. You can easily lose all discipline and risk more than you should, instead of calling it a day and taking a loss; or you can finally get in a good trade, then at 20 pips of profit you hold on longer because you know you need 40 to make up for your loss...so you hold too long and those 20 pips of profit can dwindle down to 0 or even -0 if you didn't have a SL.

I've been doing this for some years now and to those who feel that it's hard to make 40 pips a day, or to consistently be profitable...I just want to say that you are not alone. I believe that one (of many) secrets to being a successful trader is to calm waaay down about trading, put it in its place, approach it calmly...expect losses, deal with the losses and don't try to make up for the losses immediately. Don't count your eggs on a daily basis, let the weeks turn to months and then look back over your profit levels (or losses). Allow your account, whether small or big, to breathe a little, inhaling and exhaling. If you are in the habit of risking 5% of your account a day, try lowering that to 1, 2, or 3% a day instead. If you are in the habit of taking 10-20 trades a day (CH style), try limiting it to only 4-6 trades a day.

Best Regards,
NeoRio

You might consider trading with the example chart below... It's like there is an open field between you and the forest. Sometimes when the candles are larger and in your face it makes me feel like I need to get them off of me and push them away some... it removes some of the stress when trading and yet you can see everything clearly... just my 2 cents...

NeoRio...

You brought up some good points... by the way NeoRio is one of the super stars on this thread for those who don't know.

On the days I might have 2 small losses in a row... far and few in between thankfully... I'm usually done for the day. Let's start fresh tomorrow is my way of handling it.

Trading isn't brain surgery... but you have to pick your battles (like openings), know your rules and stick with them and apply them to what's happening on your chart right now...

As I've mentioned in this thread before I will only take small losses and then I'm out. I'll use the money I saved getting out to fight the next battle.

As many of you know the only time I trade using a fixed stop loss is if it's close to news time... otherwise I have my exit box up on the left side of my screen and it only takes one quick click to exit a trade.

I normally only take 1-3 trades a day... I've made my money... it's early in the morning so I have the rest of the day to do what I want...

Just my style...

Big E

Sorry for the OT, but I wonder if people here have experience using demo MT4 accounts with different brokers that they have had good experience with. I use several MT4 demo accounts, some for triggering my live accounts with Dukascopy (JForex) and others for evaluation. I use (and have used) FXOpen, MBT, FXDD, IBFX, FXPro and several others which escape me right now. Even though FXOpen has been the sturdiest and most reliable data feed in my experience (they use Dukascopy's data feed), I often do experience a lag with execution where the platform will sort of hang before executing an order (whether it's an entry, a pending order, a SL, or TP adjustment etc). The order shows as "successful", but it can hang anywhere from 30-seconds to 3 minutes before giving the "pop" sound letting you know the order went through...depending on the market conditions or the time of day.

Other MT4 platforms have very regular disconnects where you lose the connection to the data feed altogether (MBT does this all the time) and then you just have to wait for it to come back which can take a while sometimes. While FXOpen rarely loses its connection, it can be frustrating to have to wait for a long time before an order will go through when I need it to go through quick.

If you have any suggestions for solid and well-performing MT4 demo platforms, I'd appreciate some input as I look for a supplementary MT4 demo account.

TIA,
NeoRio

Rio, I can tell you that FX Solutions live account is very stable, but I don't use their demo....

NeoRio, try Go Markets.

Thank you. And thank you to Milli too. I have heard good things about Go Markets. Will give them a try.

Thanks

With FXDD i've never waited more than 6-8 seconds.... and its usually immediate.

I dont usually trade the cad, but this morning it had a perfect setup and ran up 120

Big E, is there any way that you could cover your initial stop at entry. What I would like to know is when you enter, where do you determine that your stop will be. ie a certain number of pips, or the previous candle, etc.

TDI-Histo.mq4, v1.00
- Draws a tape chart with data for the RSI price line (green), the trade signal line (red) and the market base line (yellow.
- Provides alerts for crossovers of the above three lines.
- Requires that the indicator 'Traders_Dynamic_Index.mq4' is installed. Get it Here:
http://cdn.forexfactory.com/attachme...6&d=1262263093

Show.TimeFrame=0; // Timeframe to use. Current Timeframe=0.
Show.MarketBaseLine=true; // Show cross above/below market baseline in a different color

TDI.RSIPeriod = 13; // Period. Recomended values: 8-25
TDI.RSIPrice = 0; // 0=CLOSE, 1=OPEN, 2=HIGH, 3=LOW, 4=MEDIAN, 5=TYPICAL, 6=WEIGHTED
TDI.VolatilityBand = 34; // Recomended values: 20-40
TDI.RSIPriceLine = 2; // Period
TDI.RSIPriceType = 0; // 0=SMA, 1=EMA, 2=SSMA, 3=LWMA
TDI.TradeSignalLine = 7; // Period
TDI.TradeSignalType = 0; // 0=SMA, 1=EMA, 2=SSMA, 3=LWMA

Alert.RSIPriceLine=true; // Alert if RSI price crosses trade signal line. Green crosses red.
Alert.MarketBaseLine=true; // Alert if RSI price crosses trade signal line & market base line. Green crosses red and yellow
Alert.NewBarOnly=true; // True=Alert when new bar is opened. False=Alert anytime lines cross
Alert.Timeout=60; // Deactivate alerts for N seconds after an alert. Only when Alert.NewBarOnly=false
Alert.Popup=true; // Popup window & sound on alert
Alert.Email=false; // Send email on alert

Xaphod..Thanks SO much!!! perfect for setting alerts on the 1 hr chart

Thanks. It's the, "Other two" I was interested in.

Big E - I'm curious as to why the Shift 3 on the 21 ema. Was this determined through trial and error?

Mili....

As I stated about ten posts back,,, i NORMALLY DONT USE A STOP LOSS WHEN i TRADE... however, I do when trading around news time... and it's about 15 pips on the 5 minute chart...

When you have enough experience and get good at timing your entry youll find that it doesnt come back on you more than about 3-5 pips. If you enter when there is momentum in the trade... your pretty safe. At least I find that's the case for me...

When the PA reverses its like a roller coaster when it hits the bottom of the track and the momentum shoots it up the other side.