Craig Harris Stochastics Method

nice....

Stayincool...

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... why... because it normally moves 3-8 candles on all time frames using the HA Candles.

In the chart above... TDI green crossed red down. It was the second candle. Second candle in the same color is the confirmation/entry candle.

Enter when TDI red/green cross.

Sometimes you take it in the shorts but most of the time you make pips Mili.

Note on the chart that the TDI yellow/green/red are on top falling and the Stoch was half way down when I entered. Since Im up 130+ pips Im going to move my S/L to B/E so it's a free trade and I can't lose...

thanks eel....back to studying for me....just missing a couple key points i guess

Ha! I think Big E meant for you to PM me about joining the Skype room. Instead, Mili thought you were telling him to PM me about how he got his rear handed to him [this] morning.--ha! Mili's PM asked me to help him with trading tips.

First of all, the Skype rooms (yes, there are 2), are owned by Lenny. He's the one that started them and he's the one who adds people to them, so if you want to join it, please just post here in the thread asking Lenny to add you, or PM him here on FF.

As for teaching you how to trade and not get your rear handed to you...hmmm. I get my rear handed to me every now and then too. I've gone for months without a losing trade, then all-of-a-sudden I get a HUGE losing streak that shakes my foundation and I wonder what I'm doing wrong. The secret (amongst many) to longevity in this business is to TRADE SMALL so that when you have days where you lose EVERY trade, you won't have your rear handed to you...but instead only 2%, or 5%, or whatever percentage you are comfortable losing in a day. That way you will live to fight another day and you'll learn from your mistakes.

Best Regards,
NeoRio

P.S. This thread is dedicated to learning how to trade the Craig Harris method. In all my years of searching for the holy grail and trying my had at many different systems, I can honestly say that the CH method (for me, at least) is the best mechanical system I have seen. It is a trend-following system (very important in any system)...and it has clear and easy to understand entry points. Of course, as with all systems, the exits are the hardest...but I think it is within reach to hone that skill...or if it's too hard, then just take profits at +20 pips...or better yet, close half of your position at +20, set stops to BE and let the rest run.

If you are not familiar with all of CH's videos and details of his methods, please watch his free videos here.

Cheers

Same here, no response yet.

I fear Lenny has become extra busy of late...I will try to contact him myself and see if he can answer the requests people have been sending him to add them to the Skype room.

NEO,excellant advice and insight. I've been trading FX over 5 years now myself. Your words here are right on the money.
MM and sticking to the rules as, Big E has pointed out, is must. If the trade is a loss, it should be a small one. So, kill it and move on to the next setup.
Very much appreciate the continued support provided by all...
Thanks much,
Cliff

[quote=NeoRio;4125611]
As for teaching you how to trade and not get your rear handed to you...hmmm. I get my rear handed to me every now and then too. I've gone for months without a losing trade, then all-of-a-sudden I get a HUGE losing streak that shakes my foundation and I wonder what I'm doing wrong. The secret (amongst many) to longevity in this business is to TRADE SMALL so that when you have days where you lose EVERY trade, you won't have your rear handed to you...but instead only 2%, or 5%, or whatever percentage you are comfortable losing in a day. That way you will live to fight another day and you'll learn from your mistakes.

Big E,

Apologies for more questions:-
1) We still do not have the answer as to the entry. Do we wait for the 2nd candle to close and with same colour. If this be the case then how did you take the short entry for EG.
2) Unless I am mistaken we are supposed to trade away from the 233 EMA. In the EG Trade it seems that we are trading towards the 233EMA. What made you take this trade.
3) I am attaching the chart as I see on my Laptop. Not sure how you are 130 pips in profits after short entry at 0.8745.
4) Can you also explain why No short trade was taken on 18/10. The 2nd candle was red, SS pointing down and TDI crossed going down and opening up.
Thanks in advance for clarifying above.
Cheers
Novice198

I read some articles about money management, risk to reward but still do not understand how it is actually done to be applied to forex markets especially to small timeframes.

For example, if I want to set stoploss at the last swing high/low to give room for the move because the forex market does not move in a straight line, it ebbs and flows, sometimes having a small move, sometimes having a large move and then an even larger correction before swinging back in the original direction. If I do not want to risk more than 1%-2% of my account per trade, I do not know how to position sizing and act promptly when I see the signal especially trading 5 min or 15 min TF. It would be great to have an indicator to calculate automatically to able to act promptly.

I wonder if anyone can explain and guide me in this matter how exactly to be done. I do not want to kill my account.

Did you try doing a search for "position sizing" or "position sizing mq4" on this site?

Capital2Risk = risk/100*Capital
LotSize=Capital2Risk/(Stoploss*TickValue)

Ex: EU
Risk=2%
Capital=$5000
--------------------------------------
Capital2Risk=2/100*5000= $100

Stoploss=20pips:
TickValue=$10 (4 digit broker. 1pip=$10)
-------------------------------------------------
LotSize=100/(20*10)= 0.5

1. Put in experts/scripts folder
2. Edit file in MetaEditor to change risk:
   #define RISK 2 //Percent of free margin to risk
   #define POINT 1 // Value of one point in pips. 4digitbroker=1, 5digitbroker=10 etc.
3. Compile
4. Maybe setup a hotkey to run script (right click on script->set hotkey)

Wow! THANKS SO MUCH, Xaphod.

I haven't thought there's position sizing indicator exist out there until last night. So I posted here and you helped me again.

Thanksss.
Kulvadee

quote=Xaphod;4128321]

1. Put in experts/scripts folder
2. Edit file in MetaEditor to change risk:
   #define RISK 2 //Percent of free margin to risk
   #define POINT 1 // Value of one point in pips. 4digitbroker=1, 5digitbroker=10 etc.
3. Compile
4. Maybe setup a hotkey to run script (right click on script->set hotkey)

[/quote]

Xaphod,

I have tried the process you mentioned, I saved in scripts folder, I could see position size in there, I double clicked and tried to change define point to 10 (5 digitbroker). I clicked at compile but still could not see anything happen on the chart.

Regarding hotkey, I don't understand what to type after I click set. Please help.

Kind regards
Kulvadee

It is a script, not an indicator. You have to run it each time you need it.
Also, I updated the script so it shows the SL in fractional pips for fractional pip brokers, so please redownload it.

http://lmgtfy.com/?q=hotkey+metatrader

The above position sizing script rewritten as an indicator

Lenny after reading the posts I believe that you have two chat areas on skype. Would it be possible to join?

Regards


Mike.

Just got back from cooking dinner. Xaphod, you are SO SMART! Thanks soo much !!.

The link to learn about hotkey is interesting. Thanks for that too.

Kind regards
Kulvadee

Xaphod, your indicator is incredible !! I just tried it and this made my life so much easier!

quote=Xaphod;4128591]The above position sizing script rewritten as an indicator[/quote]

Sorry for being so slow here...but what does this do, Xaphod?

Just wanted to know if anyone has the latest template and indicators. My HA that came with mt4 isn't adjustable and doesn't look at all like the one Big E is using. I tried using the template from a few pages back and it only gave me the 21ema on my chart, nothing else.

I'm interested in the 21, 223 ema method so a template and indicators would save me some time.

thx,
todd