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Craig Harris Stochastics Method

  • #2,821
  • Edited 4:48pm Nov 10, 2010 4:36pm | Edited 4:48pm
Sunshine.....

Hummmmm... sure your talking about the E/U... What timeframe?

I had trades at: (Pacific Times)... 5 min. timeframe...

5:45am
6:20am
8:25am
10:05am
10:55am

I don't trade in market consolidation unless it's a breakout move.

Everyone who is really interested in becoming a good trader will have spent hundreds and hundreds of hours studying old charts to learn to read your candles and what their saying... and how they relate to your chosen indicator(s).

If you trade the Forex Market you will be in school every day because you not only have to develop an understanding of the market but you have to be fine honing your skills daily by reviewing old charts.... using the method you've chosen to trade. You cut class and you'll lose money.

Pick your pairs, pick your indicators and then learn how it relates with PA... and learn what the candles are telling you. I can't do that for you... you have to put in your time studying...

There are things I see and react to in every trade I can't teach you about because all my learning becomes a natural part of my trading habits. You develop the same thing after paying the dues... study.

If you can't find any trades... look at different timeframes and pairs. You'll find something wanting your attention.
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  • #2,822
  • Nov 10, 2010 4:53pm Nov 10, 2010 4:53pm
Sounds like a lot of Hard Work.... guess what? It is.

Anything worth while requires this kind of toil... Sometimes you wonder if its worth it...
  • #2,823
  • Nov 10, 2010 5:31pm Nov 10, 2010 5:31pm
Big E, when you post these charts with you trades on them, it's like GOLD!

Man you rock!! Thanks!!
  • #2,824
  • Nov 10, 2010 5:38pm Nov 10, 2010 5:38pm
Big E, I noticed on your chart that you were buying and selling. Some people suggest that we should only trade one direction at a time. Do you usually trade both ways, or stick to one direction?

thanks
  • #2,825
  • Nov 10, 2010 6:05pm Nov 10, 2010 6:05pm
Quoting cce
Hope this helps a bit. Trading is always a toss up. That may be why I am attracted to the line in the sand approach using the 5sma. Easy two bar setup with the Trend. If it goes it goes, if not, then I'm out.

Cliff
Cliff, those were great comparison charts you posted, thank you very much. I don't trade Dean Malone's (Synergy) method, nor Big E's style (which is close to Synergy), but I found it very insightful to see the comparison laid out nicely like that.

I know this would be a lot of work to do, but instead of cherry-picking the winning trades only, it would be interesting to point out each signal all 3 of those systems gave (even if only on a single chart's view)...to show how many bad entries each system gives. Even better would be 6 months of back testing with every signal pointed out and "potentially" taken, depending on the particular rules of the system. With the HA candles and the short term MAs I see a lot of (what seem to me to be) entries that would be losing trades. The fact that the CH method has a structured set of rules makes the bad trades easier for me to spot...at least in hind sight.

Best,
Neo
Sentiment: Short on cash. Long on hope.
  • #2,826
  • Nov 11, 2010 3:03am Nov 11, 2010 3:03am
Mili... I trade what I see... both directions. The safest way to trade is with the trend only. It's a personal choice.
  • #2,827
  • Nov 11, 2010 3:13am Nov 11, 2010 3:13am
NeoRio...
And yes... when we trade in the forex market... we do experience losses... and that includes all systems and methods...

We also misread our charts and select poor entries too. I do this more when I'm trading and I'm tired or over anxious to find a trade and make a poor entry....

Each trader if their interested can go back in their charts to discover those trades. It happens with CH too.
  • #2,828
  • Nov 11, 2010 4:03am Nov 11, 2010 4:03am
Hello to everyone!

I have been watching the Craig Harris videos and have read through some of the thread. I notice that a number of you have tweaked the original strategy (which is great - that's what finding your own style is all about) but I was curious as to what are the weaknesses with the CH method?

If anyone has the time (and inclination!) to answer, I would be most grateful.

Thanks in advance!
  • #2,829
  • Nov 11, 2010 4:11am Nov 11, 2010 4:11am
Quoting Delite
Hello to everyone!

I have been watching the Craig Harris videos and have read through some of the thread. I notice that a number of you have tweaked the original strategy (which is great - that's what finding your own style is all about) but I was curious as to what are the weaknesses with the CH method?

If anyone has the time (and inclination!) to answer, I would be most grateful.

Thanks in advance!
As with all systems, a tight range-bound (or choppy) market will render most scalping systems hard to trade well. That's the main weakness, if you ask me. My solution: Have 2 (or more) methods to fall back on when you enter a range-bound market. Higher TF methods will keep you out of getting chopped up when the market gets choppy.

Best Regards
Sentiment: Short on cash. Long on hope.
  • #2,830
  • Nov 11, 2010 4:12am Nov 11, 2010 4:12am
Quoting eelfranz
NeoRio...
And yes... when we trade in the forex market... we do experience losses... and that includes all systems and methods...

[font=Comic Sans MS][size=3][color=#0000ff]We also misread our charts and select poor entries too....
Yes, fatigue, anxiety, revenge trading and other such related issues enhance bad trading practices. Sometimes less is more.

Best Regards,
Neo
Sentiment: Short on cash. Long on hope.
  • #2,831
  • Nov 11, 2010 4:13am Nov 11, 2010 4:13am
Quoting NeoRio
As with all systems, a tight range-bound (or choppy) market will render most scalping systems hard to trade well. That's the main weakness, if you ask me. My solution: Have 2 (or more) methods to fall back on when you enter a range-bound market. Higher TF methods will keep you out of getting chopped up when the market gets choppy.

Best Regards
Yes, I agree. However, with EU in a pretty tight range yesterday, there were still pips to be made using this method. Am I assuming that you still enter on the break of the reversal candle or do you wait for the close of the second candle to confirm the reversal?

Nice to meet you by the way!
  • #2,832
  • Nov 11, 2010 5:58am Nov 11, 2010 5:58am
Quoting Delite
Am I assuming that you still enter on the break of the reversal candle or do you wait for the close of the second candle to confirm the reversal?
Following the CH rules you would enter on the break of the reversal candle (there are several types of reversal candles)...once you have decided (important key..."decided") which direction you want to trade and which RC you will trade off of, you wait for a *break* of said RC by 1-2 pips.

Kind Regards

P.S. Nice to "meet" you too
Sentiment: Short on cash. Long on hope.
  • #2,833
  • Nov 11, 2010 8:04am Nov 11, 2010 8:04am
Thanks!

Mr E - I have also been looking at the Heiken Ashi candles, which seem quite interesting. I wonder if you could tell me how well they work (together with the MA crossover) on ranging days?

Many thanks in advance.
  • #2,834
  • Nov 11, 2010 3:28pm Nov 11, 2010 3:28pm
Delite...

If your really interested do a google search on Heiken Ashi and take the time to learn about them. Like NeoRio stated above... go to higher time frames and stay out of consolidation when trading... unless you have 40+ pip swings as per CH.

Each method has it's own rules as layed out previously... don't mix them up unless noted.

NeoRio... "Sometimes less is more." ---- Amen

Delite... Welcome aboard...
  • #2,835
  • Nov 11, 2010 3:42pm Nov 11, 2010 3:42pm
Xaphod... Many thanks kind sir for the TDI Arrow indicator...

Yes you would have had a few losing trades as pointed out by NeoRio but your gains would have been much more than the possible losses.

Gotta Love it...



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  • #2,836
  • Nov 11, 2010 3:47pm Nov 11, 2010 3:47pm
Hi Big E,

I trade the Eur/Usd 15m time frame..

Trade london time from 7am till around 11am.. if dont have any joy, then wait till new york open, so then trade 1.30pm till maybe 4pm.


10th nov was a rangeing day during them morning hours. I didnt trade in the afternoon.

I dont trade any lower time frames, although i do check to see whats going on, on 5m 30m 1hr, 4hr, daily..

I use the craig harris method, with hykenashi candles, tdi, stocastic, wait when 2nd candle is same colour and all indicators in place. Also i mostly only go for trades where the stocastic comes from 20/80 lines.
Just wanted your input or anyone elses.
  • #2,837
  • Nov 11, 2010 5:45pm Nov 11, 2010 5:45pm
For those interested, CH will have a new webinar this coming Monday. You can see his intro and explanation of what it will be about here.

Best Regards
NeoRio
Sentiment: Short on cash. Long on hope.
  • #2,838
  • Nov 11, 2010 11:03pm Nov 11, 2010 11:03pm
I noticed that TDI cross is good for entry and exit timing when the price cross 21 EMA. However when I use MACD (12,26,9) for filtering, I do not have to enter and exit everytime TDI cross so MACD help me to stay in the trade longer until it cross above/below 0.00 line.

Also another filter if the price stay above/below 55EMA, my entry has the chance to stay in that direction. Anyone please comment.

I wonder if anyone knows where I can find MACD cross 0 line ONLY with alert sound. I has been looking but could not find anywhere yet.
  • #2,839
  • Edited 8:05am Nov 12, 2010 7:46am | Edited 8:05am
Not sure if the MACD is easily combined into this method(s).
But, anything seems to be possible on this thread. Great minds at work here.
Try this MACD alert indy. Many ways to set it up to your specks. No idea who created it. Got it from the FxFisherman site.
Enjoy.
Cliff

Quoting kulvadee
I noticed that TDI cross is good for entry and exit timing when the price cross 21 EMA. However when I use MACD (12,26,9) for filtering, I do not have to enter and exit everytime TDI cross so MACD help me to stay in the trade longer until it cross above/below 0.00 line.

Also another filter if the price stay above/below 55EMA, my entry has the chance to stay in that direction. Anyone please comment.

I wonder if anyone knows where I can find MACD cross 0 line ONLY with alert sound. I has been looking but could not find anywhere yet.
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File Type: mq4 MACD_ColorHist_Alert.mq4   11 KB | 3,259 downloads
I get exercise just pushing my luck
  • #2,840
  • Nov 12, 2010 8:57am Nov 12, 2010 8:57am
Quoting NeoRio
For those interested, CH will have a new webinar this coming Monday. You can see his intro and explanation of what it will be about here.

Best Regards
NeoRio

Thank you Neo
any idea where il be able to find the webinar once done?
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