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Craig Harris Stochastics Method

  • #2,641
  • Oct 23, 2010 5:45am Oct 23, 2010 5:45am
Which template do you use for the NY OPen? Which template do you use for the 15m chart? Which template do you use for the 5m chart? Is there a preference for time of day? Thanks
  • #2,642
  • Oct 24, 2010 2:22am Oct 24, 2010 2:22am
Thanks, PipCop and Big E.

Kind regards
Kulvadee
Quoting PipCop
In order to get swings where you can make 15-30+ pips per trade average on a 15 minute chart... we need swings of 40+ pips in the Tokyo Channel prior to the London Open which is the market that CH trades. CH will not trade the London market until the Asian session (Tokyo channel) reaches the 40+ pips level. Hope that answers your question... Quoted by Big E, this is a completely different stratergy, E uses the 5 min TF, but it would'nt hurt to use it as a guide. This will give you...
  • #2,643
  • Oct 24, 2010 7:18am Oct 24, 2010 7:18am
Rotunda...

The last two templates:
Good on any timeframe
I run thru the charts I trade with the 21/233 template. If I don't see any set ups I want to trade then I go through the same charts with the other template. I check all timeframes looking for a solid trade where I have the edge... I like to trade the first couple of hours of any market open...
  • #2,644
  • Oct 24, 2010 10:09am Oct 24, 2010 10:09am
Quoting eelfranz
Castlebrook...

One chart is the 21 ema method
The other chart is the 5 sma method

Sorry for the confusion...........
Dear Mr Big E. I have read Post 2626 and it states after reviewing your trades? Is it possible to see this review?

Great Work.

Many thanks

Mike.
  • #2,645
  • Oct 24, 2010 12:05pm Oct 24, 2010 12:05pm
Quoting eelfranz
Castlebrook...

One chart is the 21 ema method
The other chart is the 5 sma method

Sorry for the confusion...........
Thanks.
  • #2,646
  • Oct 24, 2010 2:21pm Oct 24, 2010 2:21pm
Thanks Big guy, good to be back.


Quoting eelfranz
Kulvadee... No. Like PipCop said this is a completely different strategy. Stick to the rules for each seperately.

PipCop... Welcome back to the thread.

Big E
  • #2,647
  • Oct 24, 2010 10:18pm Oct 24, 2010 10:18pm
Took this trade today morning. Not sure where did I go wrong. Did I bail out too soon?
Comments welcome.
Cheers
Novice198
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  • #2,648
  • Oct 24, 2010 10:39pm Oct 24, 2010 10:39pm
Big E, thanks for answering so many questions and sharing your method with everyone, you're an officer and a gentleman.

Rotunda and others have begun trying their hand at trading your method in the Skype room and it's exciting to see. Since you were gracious enough to spend quite a bit of time with me a while back explaining/teaching how to trade your method, I thought it might be helpful for everyone to hear a bit about the importance of using the Heiken Ashi candles when trading this method. I mention this because I know others are trying your template out with other forms of bars/candles. I think it might be worth covering at least a short paragraph on how/why you use the HA candles...especially because a "close" or an "open" on a HA candle is not the same as a close or an open on a Japanese candle or a regular bar. Since your method looks for a close above/below the MA line(s)...I think it's important people realize that a HA close (or open) are considerably different than other forms candles/bars and thus will produce varying signals.

Just a thought.

Kind Regards,
NeoRio
Sentiment: Short on cash. Long on hope.
  • #2,649
  • Oct 25, 2010 1:58am Oct 25, 2010 1:58am
Quoting eelfranz
Concerning post 2522:

Set Up 21/233...

21 ema, shift3, Typical
233 ema, shift 5, Typical
I use these settings on all time frames
No other moving averages
[FONT=Comic...
Hi Big E,

Couple of quick questions:-
1) Though not mentioned above, I assume that you take into account the immediate S&R lines close to the current PA before entering a trade.
2) The colour of the candle changes or rather repaints till the candle is closed. Therefore you look for Green HA candle crossing the 21EMA upwards and entry would be based close of 2nd candle which should also be green. Opposite for short entries.
3) If you are entering on a particular TF how many TF upwards you will check to ensure that the Trade you are going to enter is in line with the higher TF.
4) I have been following various threads / strategies and my observation is that when reviewing Charts in hindsight for all strategies based on indicators, it is very easy to pinpojnt entry and exit signals based on indicators, as PA has done what it has to do and the Indicators have reflected the past action. However, forward testing is totally a different game, with HA candles, SS and TDI repainting as the PA behaves. How does one overcome this on a lower TF eg 5M TF

Cheers
Novice198
  • #2,650
  • Edited 8:48am Oct 25, 2010 8:19am | Edited 8:48am
Mike... On post 2626 it's not my review but his so dont know how he did it.

Novice198... On your post chart... look at the TDI & Stoch angle... its flat. When you see that... exit the trade and keep your profit.

NeoRio... Good Idea... Which method ? If your using jap. candles your not following the rules and you'll get confused big time as the trade goes along...Go to www.compassfx.com to the archived videos and learn about the heiken Ashi and TDI.

Novice198...

1. S/R is not part of the rules.
2. First candle to cross and close is the set up candle. The second candle is the enry candle.
3. Not part of the rules
4. You can't win every trade... sorry. When I see the signal I take the trade according to the rules in #2.
  • #2,651
  • Oct 25, 2010 8:39am Oct 25, 2010 8:39am
Quoting eelfranz


Novice198...

2. First candle to cross and close is the set up candle. The second candle is the enry candle.
Big E,
Thanks for the quick response. Do we enter at the open of the 2nd candle or do we wait for the close of the candle?

Cheers
Novice198
  • #2,652
  • Oct 25, 2010 10:51am Oct 25, 2010 10:51am
Here are two charts one with candles and the HA. The candles shows a big gap on Sunday when the market opened, the Ha is showing a long white candle. Anytime the market gaps like that it will eventually fill before price continues it journey.
Big E was correct when he said the TDI was flat,180 no trade but we also need to check what PA is telling us. The 2nd and third Ha and candles are dojis, they have the same open and close an indication that price is going to move the other way.


Quoting novice198
Took this trade today morning. Not sure where did I go wrong. Did I bail out too soon?
Comments welcome.
Cheers
Novice198
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  • #2,653
  • Oct 25, 2010 10:57am Oct 25, 2010 10:57am
This should clarify things for you
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  • #2,654
  • Oct 25, 2010 4:33pm Oct 25, 2010 4:33pm
Novice 198...

When using HA candles... each swing will average 3-8 candles normally.

Enter within the first 3 candles . I usually enter on the second candle. I figure in most cases I'll make profit on 2 candles anyway (candle 2 &3) and maybe more...

The time of day is the most important to me. When I trade the London market I like the first 4 hours. It usually slows when they go to lunch and then picks up again an hour or two later. On the USA market I trade just the first 2-3 hours and then it tends to slow down.

Check the calendar at Forex Factory for the red releases. Usually there is momentum. I trade the retrace.

Forget trading when the market consolidates or is flat.

  • #2,655
  • Oct 25, 2010 6:39pm Oct 25, 2010 6:39pm
Hi, I sent a request to join the Skype room, but no response so far....can you please tell us again how to join??

Thanks
  • #2,656
  • Oct 26, 2010 8:32am Oct 26, 2010 8:32am
Big E thanks for sharing this...nice to have an alternate system to trade. I am still not clear on your entry technique. Can you explain a bit more? Is your typical entry on the 2nd candle at the open/close or some other place...etc...

thanks.

Quoting eelfranz
Novice 198...

Enter within the first 3 candles . I usually enter on the second candle. I figure in most cases I'll make profit on 2 candles anyway (candle 2 &3) and maybe more...

  • #2,657
  • Oct 26, 2010 9:20am Oct 26, 2010 9:20am
today I got my rearend handed to me....absolutely handed to me
  • #2,658
  • Oct 26, 2010 9:34am Oct 26, 2010 9:34am
Mili... PM NeoRio
  • #2,659
  • Oct 26, 2010 10:54am Oct 26, 2010 10:54am
OK..Thanks Eel
Mili... PM NeoRio
  • #2,660
  • Oct 26, 2010 10:25pm Oct 26, 2010 10:25pm
I'm currently in a short on the E/G Daily chart with 5 lots. Entered at 0.87450, S/l at 0,88500. Up 130 pips at the moment...
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