Craig Harris Stochastics Method | Page 152 | Forex Factory

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Craig Harris Stochastics Method

  • #3,021
  • Jan 12, 2011 1:56am Jan 12, 2011 1:56am
eelfranz: At the time that your entry is triggered or right after entry is made do you automatically enter a 5 pip SL? More interested in whether you enter a pending order rather than when. If all other requirements are met what is your estimate of the number of times you stop out with 5 pip SL? CH I think uses 30 - 35 pip SL.
  • #3,022
  • Jan 12, 2011 11:03am Jan 12, 2011 11:03am
Thanks for the advice Big E and Rotunda appreciated.
What I'm trying to do is use the price action at swing highs and swing lows for entry. What I'm looking for is strong reversal candals like engulfing candles, pin bars etc and if it comes at areas of support and resistance so much the better (see first trade today).
I'm then looking to trade away from 21ema (Yellow) and 233ema (Blue) and using Stochs and TDI as confirmation.
I find myself mostly studying the GU because it's the pair I know best.
Attached Image (click to enlarge)
Click to Enlarge Name: Trades for 12th Jan 11.jpg Size: 101 KB
  • #3,023
  • Jan 12, 2011 2:05pm Jan 12, 2011 2:05pm
hi,

is there anything that explains how to make use of the numbers on the dashboard?

like:

 

  1. ptfh
  2. ptfl
  3. pto
  4. ptma
  5. ptma 2
  6. lfs
  7. bslf


thank you very much,

  • #3,024
  • Jan 12, 2011 6:37pm Jan 12, 2011 6:37pm
Quoting samk090905
hi,

is there anything that explains how to make use of the numbers on the dashboard?

like:

 

  1. ptfh
  2. ptfl
  3. pto
  4. ptma
  5. ptma 2
  6. lfs
  7. bslf


thank you very much,

Here's the manual to Xaphod's Dashboard...

NeoRio
Attached File(s)
File Type: pdf Xi-Dashboard v0.91.pdf   77 KB | 3,222 downloads
Sentiment: Short on cash. Long on hope.
  • #3,025
  • Jan 13, 2011 6:33am Jan 13, 2011 6:33am
Big E, if you would edit post #1 to include this link:

http://m15-swinger.weebly.com/index.html

that would probably help many newcomers to this thread with some recurring questions. Thanks.
  • #3,026
  • Jan 13, 2011 4:55pm Jan 13, 2011 4:55pm
John...

I don't use pending orders or hard S/L. I get out with a 5 pip loss about 25% of the time. My timing was off evidently so I re-enter when it looks right and there is more momentum.. Just my style.

I don't enter trades just before news .

The longer you trade the more you'll refine your system until you gain confidence... keep at it.
  • #3,027
  • Jan 13, 2011 6:44pm Jan 13, 2011 6:44pm
This trade was on the 1 hour chart. Entry was late but I didn't get up before 5 am and it looked strong. Easy trade as per rules. Exited where candles consolidated.
Attached Image (click to enlarge)
Click to Enlarge Name: 1-13.gif Size: 21 KB
  • #3,028
  • Jan 13, 2011 7:06pm Jan 13, 2011 7:06pm
You could have traded the charts below at the same time as the chart above and made great pips using the 5 Method...
Attached Images
  • #3,029
  • Jan 13, 2011 7:53pm Jan 13, 2011 7:53pm
Big E, any guidance on stops on the higher timeframes? Thanks for all your help!
Read the entire thread BEFORE you ask questions!
  • #3,030
  • Jan 14, 2011 1:34pm Jan 14, 2011 1:34pm
Is there any place here where I can get Craig Harris's rules for IB+OB trades as well as the 5 and 23?
  • #3,031
  • Jan 15, 2011 4:43pm Jan 15, 2011 4:43pm
Johnami...

I use the 5 pip S/L on the lower timeframes...

Otherwise I use a hard stop on 1 hr timeframe and up if I'm not monitoring the trade. Usually the top or bottom of the previous candle depending if I'm going short or long. Sometimes the swing hi or low depending upon the momentum of PA.

I prefer 1 & 4 hour charts. When the trade is up 10-15+ pips above break even... I move the S/l up to break even + the spread so if it drops I don't lose any pips.

I have over a 75% winning rate so on the long timeframes if I take a 50 pip loss as an example... it's no big deal... at night I'd rather sleep than watch the charts. I normally start trading at 5 am Pacific time.

I like trading 4 hour charts at night. With the HA Candles it normally runs 3-8 candles per trade average. So if I can enter on candle two... it's usually good by the time I get up in the morning...
(4 hours per candle... trade is candle 2 &3... 8 hours).

I'm usually awake every 1 -1/2 to 2 hours at night so I'll do a quick check for any possible set-ups on my 4 hour charts. I monitor 8 pairs. I'm looking for set ups on the 4 hour charts that late at night.

Don't trade in consolidation. The 5 method is the most simple . PA is either above or below the line for long or short trades.

Just practice on Demo.

Big E
  • #3,032
  • Jan 15, 2011 4:54pm Jan 15, 2011 4:54pm
Bill...

1st post, bottom left Updates and CH Videos.
  • #3,033
  • Jan 17, 2011 11:44am Jan 17, 2011 11:44am
Anyone here use this method on Forex Tester, and if so can the template imported into fores tester? I see the tdi for example is not avail on forex tester
  • #3,034
  • Jan 18, 2011 10:58am Jan 18, 2011 10:58am
To "Big E"
You posted on the M 15 page a Market Hours indicator but it was done in programmers language. I am looking for the Market Hours indicator that consists of lines at the bottom of the chart which can be downloaded in an executable format by computer idiots such as myself. If you can help in that regard I would be most grateful.
  • #3,035
  • Jan 18, 2011 2:27pm Jan 18, 2011 2:27pm
Hi Eric,
Hope all is well with you.. I do see this entry.. Nice entry... Are you using a 4H OSMA as a filter before taking trades?? Yes I see the entry but you get these entries all over the place. are you taking the second entry post a + or - OSMA?? on your H chart? with the 1H entry with OSMA and TDI with Stoch?/

Best,
Dawna

Quoting eelfranz
This trade was on the 1 hour chart. Entry was late but I didn't get up before 5 am and it looked strong. Easy trade as per rules. Exited where candles consolidated.
Without vision, the people will perish.
  • #3,036
  • Jan 18, 2011 3:15pm Jan 18, 2011 3:15pm
Quoting bythepound
Hi Eric,
Hope all is well with you.. I do see this entry.. Nice entry... Are you using a 4H OSMA as a filter before taking trades?? Yes I see the entry but you get these entries all over the place. are you taking the second entry post a + or - OSMA?? on your H chart? with the 1H entry with OSMA and TDI with Stoch?/

Best,
Dawna
Eric. I do see if you use this method with the Daily TDI you get good trades. Is this the proper filter? only the TDI .. it seems by the time the OSMA comes on board it's too late.. any and all help is great.
Without vision, the people will perish.
  • #3,037
  • Jan 18, 2011 6:55pm Jan 18, 2011 6:55pm
Quoting Bill
To "Big E"
You posted on the M 15 page a Market Hours indicator but it was done in programmers language. I am looking for the Market Hours indicator that consists of lines at the bottom of the chart which can be downloaded in an executable format by computer idiots such as myself. If you can help in that regard I would be most grateful.
How about this
http://www.forexfactory.com/showpost.php?p=3607442
  • #3,038
  • Jan 18, 2011 11:04pm Jan 18, 2011 11:04pm
Hello,
Just ran across this site this morning. I intend to read thru it from start to finish. Many useful tips and experienced insight. You won't hear much from me at this time. I do want to thank you all for your postings.
Thanks, and good trades to all of you
sear
  • #3,039
  • Edited 4:05am Jan 19, 2011 3:26am | Edited 4:05am
newbie here first post, thanks to everyone for this very helpful thread, i've just finished reading through it all and watching most of the videos, what a journey! I'm not just a newbie to this forum but also very new to trading. The help and advice here has really helped me to feel like I'm on the right road now.

question

I watched the CH webinar last night on spotting true reverse signals, he presents his checklist of things to check before making the trade.

what extra things do you guys recommend to check in addition to CH's list before taking a trade?



Thanks,
  • #3,040
  • Edited 10:09am Jan 19, 2011 9:55am | Edited 10:09am
Am using both 5 method and 21/233 method depending on time of day. Want to clarify entry. I understand that the setup candle must close above/below the respective ema. I assume that this means just the upper or lower body of the candle, not including wick. Correct?

Is entry at the close of the setup candle if the next candle is the same color or at the tip of the wick, or is it just if the same color appears at any point on the next candle for the duration of that next candle? Hope my question is clear.
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