Craig Harris Stochastics Method | Page 167 | Forex Factory

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Craig Harris Stochastics Method

  • #3,321
  • Feb 8, 2011 12:28pm Feb 8, 2011 12:28pm
Quoting FX-Trader
Hi SJr, if I applied the rules correctly that are discussed in this thread, you should have never been thinking short for that trade. HA bars were just starting to close in the channel the bar after your referenced pin bar and RSI(TDI's Green Line) was over 50 so another sign no short, and price was not closing outside the bottom of the PAC(Price Action Channel - 5-SMA of the Lows) If anything, if you were in a long you would be exiting and waiting for the next signal or you were just plain waiting to enter as price was in the PAC for the 60min...
Thx FX Trader for your input. To be honest I didn't understand half of your post, guess I have a long ways to go....

Would it be fair to say then that this post has changed its focus from the original CH stoch method to the TDI method? I hope not, as I would like to get good using Stochs first, rather than having to download another platform, learn that and start over again. Having said that, if it is that much superior, id do it.
It would be great to hear from eelfranz/Neo on the subject.

In the meantime I'll stick with the Stoch method originally discuss, try to learn as much as possible about it, post charts before the trade, and invite comments from members on the whats/why and hows...

Cheers

SR
  • #3,322
  • Feb 8, 2011 12:30pm Feb 8, 2011 12:30pm
Quoting Xaphod
It is easy to cherry pick examples and always pick an exit at the best possible point in the chart when you have the chart in front of you. A simple backtest should give a more objective assessment.
Great example, Xaphod. Thanks for putting some time into this. I've been very curious to see some time-proven examples of live trading with the TDI and MA crosses. It always boggles me to look at trade examples that have already taken place. When I scan the charts I see many false entries with TDI crosses (at least if one were to strive for more than 5 pips of profit)...but then there is the human factor and a seasoned trader will most likely approach the trades differently than someone taking every TDI cross with MA agreement. I'm personally more weary of trading based on lines crossing each other.

Best Regards,
NeoRio
Sentiment: Short on cash. Long on hope.
  • #3,323
  • Feb 8, 2011 12:48pm Feb 8, 2011 12:48pm
Quoting NeoRio
Great example, Xaphod....
If only it was as easy as just following TDI rules to become a profitable trader!


:-)
  • #3,324
  • Feb 8, 2011 12:56pm Feb 8, 2011 12:56pm
Quoting 2scoops
If only it was as easy as just following TDI rules to become a profitable trader!


:-)
If you decide to embrace the theory that the markets are manipulated (governed) by some pretty big "players" (market makers), you will likely come to the conclusion that all retail tools (indicators, MT4, candlesticks, etc) are tools that are *freely* given by the MMs to make it easy for you to get into the game.
Sentiment: Short on cash. Long on hope.
  • #3,325
  • Edited 1:04pm Feb 8, 2011 1:01pm | Edited 1:04pm
Struggling with this method today....... but then, so was Dean Malone.

Here is something I noticed very late in the day, using Constant Range Bar charts, watch for the TDI signal, combined with 2 close outside the bands, with a small Take Profit point, I hit 3 for 3.

The small TP doesn't worry me, if this is a repeatable pattern, just increase the position size to make more $$$$. Looking back over the last few days charts, seems possible.

That's all for now, pictures are worth 1,000 words, hopefully more tomomorrow
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Canadian by birth Australian by choice
  • #3,326
  • Feb 8, 2011 2:28pm Feb 8, 2011 2:28pm
Quoting realjumper
Not sure who your broker is, but I use FXCM Australia. I use their own trading station but their 'Marketscape' charts don't support TDI and other indy's.......so I have an MT4 demo account that I can use those indy's like TDI etc on. So the reality is that that I use FXCM to enter/exit trades, but I use MT4 demo accounts for charting!! It works great....
Hi RJ!
I was following your posts with Sjr, and so you propose to show your live trading system.... Could you show me how you do that! I am very interested to see other methods! That would be great!
  • #3,327
  • Feb 8, 2011 5:40pm Feb 8, 2011 5:40pm
Quoting NeoRio
Great example, Xaphod. Thanks for putting some time into this. I've been very curious to see some time-proven examples of live trading with the TDI and MA crosses. It always boggles me to look at trade examples that have already taken place. When I scan the charts I see many false entries with TDI crosses (at least if one were to strive for more than 5 pips of profit)...but then there is the human factor and a seasoned trader will most likely approach the trades differently than someone taking every TDI cross with MA agreement. I'm personally...
I think you hit the nail on the head there NeoRio. TDI as well as every other indi available, is not the 'holy grail'. That magic indi does not exist!

I'm pretty sure that most systems and most indy's can, and are, profitable. The success or failure of any system or indi is up to the individual and their own way of applying the system/indi to their trading. If you trade every cross of TDI or your favourite moving averages, you will lose in the long term.....that's why EA's don't work. Each trader has to scrutinize the crosses (or whatever) and decide whether the indication is worth entering a trade on.

Any indicator is just what it says....it is an 'indicator'.......nothing more, nothing less. It's not a compulsory ENTER NOW sign!!!
Doing what you like is Freedom. Liking what you do is Happiness.
  • #3,328
  • Feb 8, 2011 5:50pm Feb 8, 2011 5:50pm
Quoting Vanaris
Hi RJ!
I was following your posts with Sjr, and so you propose to show your live trading system.... Could you show me how you do that! I am very interested to see other methods! That would be great!
Hi Vanaris,

The live system I use was developed by a long standing poster here at ff who's nick is 'acumen'. Because he now markets his system and sells it online, it wouldn't be fair to him if I were to give it to others.

If you want to know more, send me a PM and I'll get back to you.
Doing what you like is Freedom. Liking what you do is Happiness.
  • #3,329
  • Feb 8, 2011 6:03pm Feb 8, 2011 6:03pm
Quoting realjumper
Not sure who your broker is, but I use FXCM Australia. I use their own trading station but their 'Marketscape' charts don't support TDI and other indy's.......so I have an MT4 demo account that I can use those indy's like TDI etc on. So the reality is that that I use FXCM to enter/exit trades, but I use MT4 demo accounts for charting!! It works great....
hi rj
look at this ,there are a lot of indicators for fxcm trade station here
http://fxcodebase.com/code/viewforum.php?f=17
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  • #3,330
  • Feb 8, 2011 6:58pm Feb 8, 2011 6:58pm
2scoops,

Usually I don't use a S/L on 5 & 15 and 1 hour charts if I'm actually monitoring the trade in progress. On the 4 hour chart I'll often use the hi or low of the previous candle. These are general rules for me and my style.

Each trade is different so those rules can be manipulared to fit what's happening on PA.

As you know... each trader creates a method and style that fits their own personality.
  • #3,331
  • Feb 8, 2011 7:43pm Feb 8, 2011 7:43pm
HI everyone.
Here is something I just spotted on the hourly chart.
Stochs look like there crossing to the upside, in line with the trend, and previous S&R areas identified.

Any comments please would be welcome.

Cheers

SR
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  • #3,332
  • Edited 9:27pm Feb 8, 2011 8:21pm | Edited 9:27pm
SJr, On the 60m Price has not broken out of it's channel. So even though Stoch was pointing up you may have to wait a while before it breaks out, then again anything is possible but the odds are not in favor of a trending move at the moment according to the 60m.
  • #3,333
  • Feb 8, 2011 8:35pm Feb 8, 2011 8:35pm
Thx FX Trader.
Do you (or anyone) have a chart you could show me what your looking at ?
Im assuming your looking at the TDI indicator?

Cheers

SR
  • #3,334
  • Edited 9:25pm Feb 8, 2011 8:53pm | Edited 9:25pm
SJr, I put a chart in the post - do you see it? The channel I am talking about is the 2 yellow lines on the upper graph. See the ave bars are in between the 2. For momentum to pick up we would like to see it move/close outside those SMA lines. If you start from the beginning of this thread and work your way through you will see the progression of the method. Also if you go back to page 217 you'll find a post from Snowman I believe about the basic synergy method and the link to the video explaining all this.

Enjoy - here is the chart again...
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  • #3,335
  • Feb 8, 2011 9:04pm Feb 8, 2011 9:04pm
Update on Demo trade.
Just moved my SL up so as to reduce overall risk, still hasn't hit first target area.
Any comments welcome.
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  • #3,336
  • Feb 8, 2011 9:14pm Feb 8, 2011 9:14pm
I exited on the 4 lots when prices started to stall. Small win but still need alot of work...any/all comments welcome

Thx SR
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  • #3,337
  • Feb 8, 2011 9:17pm Feb 8, 2011 9:17pm
Hey Gang... I traded on the 15 minute chart today... using only the TDI indicator with SS and PA hidden. I depended on red/green crosses, hooking over lines, etc. Just how I initially learned and studied the TDI for many years.


I don't know why some have so much difficulty with it. This is the straight scoop. I didn't count the pip total but it was a bunch.

Some trades were taken early and some exits were early too but without PA showing this was my educated guestimate... and it is the truth...
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  • #3,338
  • Edited 9:26pm Feb 8, 2011 9:19pm | Edited 9:26pm
Opps SJr... I thought you were looking at EUR/USD... here is EUR/GBP the last hour closed outside the channel so the expectations now should be in a Long favor.
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  • #3,339
  • Feb 8, 2011 9:58pm Feb 8, 2011 9:58pm
The Good Book says to put on your armour to prepare for battle... I got a great buy on my new war helmet for trading...
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  • #3,340
  • Feb 8, 2011 11:06pm Feb 8, 2011 11:06pm
BigE,

I am new to this fantastic site of trading knowledge and experience sharing from so many helpful traders from you, NeoRio, Xaphod and many others. I have went through most of the recent posts in this site for CH, 5MA and 21 MA trading method.

In your recent post you mentioned that you do not use SL for 5 min, 15 min and 1 hour TF, how you exit you trades when the PA go against your trades?

Thanks.
TH
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