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Craig Harris Stochastics Method

  • #3,361
  • Edited 7:09pm Feb 9, 2011 5:32pm | Edited 7:09pm
Johnami'''

Your Question:

Using the "5 method" on the 5 or 15 minute time frame, my understanding is that there is no other moving average used? I think I remember BigE saying that he uses the 233 only with the 21/233 method. My question is, what would be a good moving avg to keep on track when trading the 5 on the 5m and 15m time frames? Any feedback appreciated!

When trading the 5 method I only use the 5 ema... if I'm trading the 21/233 for multiple entries I only use the 21/233 lines as outlined.

I personally don't add any other m/a lines. Some do and some don't... it's your choice and what works for you. If I did use one on the 5 method I'd probably use the 21 ema. Why? Because when PA cycles... it normally cycles to the 21 line and bounces off the 21 line... if it broke thru I'd exit the trade expecting a reversal coming soon.

Only use Stochs between the 20 & 80 lines for entries or trade direction. Doing trades above the 80 or below the 20 lines will kill your account generally.
__________________
  • #3,362
  • Feb 9, 2011 6:08pm Feb 9, 2011 6:08pm
Welcome to all the new traders who are reading our forum and making pips with one of our systems.
  • #3,363
  • Feb 9, 2011 7:06pm Feb 9, 2011 7:06pm
Todays trades - 15 min. A/U Chart - TDI Only

All trades were taken using only the TDI - TDI crosses... PA was closed during trading. All wins... no losses. Started at 5am pacific time to 5pm.
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  • #3,364
  • Feb 9, 2011 8:04pm Feb 9, 2011 8:04pm
Chews,

When I trade only the TDI without using PA.. I enter on the lines crossing with angle and exit on the peaks & valleys of the TDI.
  • #3,365
  • Feb 9, 2011 10:13pm Feb 9, 2011 10:13pm
Quoting eelfranz
Todays trades - 15 min. A/U Chart - TDI Only

All trades were taken using only the TDI - TDI crosses... PA was closed during trading. All wins... no losses. Started at 5am pacific time to 5pm.
Hi Big E, your entry and exits were almost all spot on at the top/bottom its amazing... How is that possible? When you say you exit at the peak/valleys, how do you know its going to be a peak/valley while its still forming?
  • #3,366
  • Feb 10, 2011 2:35am Feb 10, 2011 2:35am
How can I explain this so it makes understanding it easier....

Remember first that this is not a rule or cast in concrete... it's my personal understanding of the market...

On the 5,15 & 60 minute charts when I 1st enter the trade if it drops back 5-6 pips... I figure I didn't judge my entry too well so I exit the trade so as to not take a bigger loss....

Hi Big E, thanks for your explanation....You say that after you enter, if it drops back 5-6 pips, you are getting out...Now, my guess is, when let's say you BUY GBP/USD pair, just after entering you are in -5 pips loss (spread), and from here if it drops 5-6 pips you are out. Which means -10-11 pips. Am I getting it right?

And another question.... you are in a trade, say +15, then drops 5-6 pips....are you also out from the trade? How do you manage this kind of situations?

Thanks a lot for your help?
  • #3,367
  • Feb 10, 2011 2:52am Feb 10, 2011 2:52am
Quoting furburr
Hi Big E, your entry and exits were almost all spot on at the top/bottom its amazing... How is that possible? When you say you exit at the peak/valleys, how do you know its going to be a peak/valley while its still forming?
I was going to ask the exact same thing, just like the entries on the cross of the 50. Often times the crossof the 50 is not confirmed for at least another candle. The only thing I can think of is the color change on the stochastic. Excellent question.
  • #3,368
  • Feb 10, 2011 3:50am Feb 10, 2011 3:50am
Yes thanks I think I understand.

So when you first enter a trade you follow the 5-6 stop loss "tip", if after first making the trade it moves straight back against you by 5 or 6 pips you stop out as its likely the entry may have been misjudged.

If however the trade goes in your favour for a while in the right direction you don't then still carry on following the tight 5-6 pip SL. You watch TDI/PA/SS and judge whether to exit, if things start to move against you later in the trade you perhaps move your SL up to BE point, set a trailing stop or maybe lighten up on your position a little.

The 5-6 SL is really just there to protect you when you first enter a trade from potentially misjudged entries.

You can always re-enter on the next candle if TDI/PA/SS look correct.



Quoting eelfranz
2scoops...

How can I explain this so it makes understanding it easier....

Remember first that this is not a rule or cast in concrete... it's my personal understanding of the market...

[font=Comic Sans MS][size=3][color=#0000ff][u]On the 5,15 & 60 minute charts when I 1st enter the trade if it drops back 5-6 pips... I figure I didn't...
  • #3,369
  • Feb 10, 2011 3:58am Feb 10, 2011 3:58am
For anyone interested, here is my latest analysis video:

Weekly Analysis

Best Regards,
NeoRio
Sentiment: Short on cash. Long on hope.
  • #3,370
  • Feb 10, 2011 5:13am Feb 10, 2011 5:13am
Thx Neo.
What trading platform do you use in your videos ?

SR
  • #3,371
  • Feb 10, 2011 7:26am Feb 10, 2011 7:26am
Quoting eelfranz
2scoops...

I've had 3-4 times I made a picture of a chart showing the actual entry line, came to this thread... wrote about it and put the chart here and then went back to the chart and in that short amount of time... and it's dropped back 10 to 15 pips costing me $120 - $150 in profit. No more! Now I close the trade first, take the picture and show you where I entered and exited and post it.
Here is the easy way to post trades, it can all be done after hours, will not interfere with any of the trading!

Also, for trade management, try this program, can pre-set all stops and take profits BEFORE even placing a trade! Trailing stops, everything, you name, it will do.

http://www.mtconsole.com/

http://www.myfx.com.au/

Read all about it here - http://www.forexfactory.com/showthread.php?t=240688
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Canadian by birth Australian by choice
  • #3,372
  • Feb 10, 2011 8:10am Feb 10, 2011 8:10am
As the Snowman mentioned, MYFX Console is one outstanding program. I'd been looking for a program like that. It goes way beyond any EA's or scripts that I've looked at. Try the trial and see if it works for you.

Steve
  • #3,373
  • Feb 10, 2011 8:21am Feb 10, 2011 8:21am
Furburr,

As you are looking at the TDI you'll see the peaks & valleys by when the green line changes.. tweaks from it's normal path... starting to hook over... changes. Maybe goes flat...
  • #3,374
  • Feb 10, 2011 8:27am Feb 10, 2011 8:27am
Quoting eelfranz
Furburr,

As you are looking at the TDI you'll see the peaks & valleys by when the green line changes.. tweaks from it's normal path... starting to hook over... changes. Maybe goes flat...
Tks BigE, I think I know what you are referring to. You basically exit at the slightly change in angle/trajectory of the green TDI. Hopefully the bar that caused this change in angle has not retraced too much as TDI updates only after the candlebar is completed.
  • #3,375
  • Feb 10, 2011 8:42am Feb 10, 2011 8:42am
Vanaris,

Your Question:

Hi Big E, thanks for your explanation....You say that after you enter, if it drops back 5-6 pips, you are getting out...Now, my guess is, when let's say you BUY GBP/USD pair, just after entering you are in -5 pips loss (spread), and from here if it drops 5-6 pips you are out. Which means -10-11 pips. Am I getting it right? Yes you are correct.

And another question.... you are in a trade, say +15, then drops 5-6 pips....are you also out from the trade? How do you manage this kind of situations?

I've done it both ways on a mini account... exited or use the 15 pips as a pad and let it play out... exiting at B/E if necessary. But when I'm trading full lots.. and I'm up 15 pips... and if it pulls back 5 pips... I exit. Why? I've still have a $100 profit to protect... where as on a mini account it's only 10 bucks normally.

As I've said before... When I enter a trade I put up the close box on the left side of my screen so if I need to exit fast to protect profits... it's just a click away to exit the trade.





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  • #3,376
  • Feb 10, 2011 8:43am Feb 10, 2011 8:43am
Quoting eelfranz
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.

[font=Comic Sans MS][size=3][color=#0000ff]Some trades were...
Big E,
I definitely find it difficult to Trade this and as such would luv to see the results of the demo trade as suggested by Neo. The results will give us inspiration as what can be achieved using the 5 EMA system.
Cheers
novice198
  • #3,377
  • Edited 9:08pm Feb 10, 2011 9:02am | Edited 9:08pm
Furburr,

Again I recommend studying old charts with the TDI on it. Look at PA hi & lows... then look at the TDI to see what it looks like so you can learn to recognize the signals...
  • #3,378
  • Feb 10, 2011 9:35am Feb 10, 2011 9:35am
Big E

What do you find is usually your average profit (pip wise) per trade?

Quoting eelfranz
Vanaris,

Your Question:

Hi Big E,[font=Arial][size=2] thanks for your explanation....You say that after you enter, if it drops back 5-6 pips, you are getting out...Now, my guess is, when let's say you BUY GBP/USD pair, just after entering you are in -5 pips loss (spread), and from here if it drops 5-6 pips you are out. Which means -10-11 pips. Am I getting it right? [b][FONT=Comic Sans...
  • #3,379
  • Feb 10, 2011 12:04pm Feb 10, 2011 12:04pm
Hello All

I am just now joining as a member, after spending the past week reading through the thread. Well done to you all on a very informative and interactive forum !!

I look forward to becoming a part of the community.

Ceebs
  • #3,380
  • Feb 10, 2011 1:43pm Feb 10, 2011 1:43pm
Hi Everyone,
Can someone maybe Big E post the current rules for melding the 2 systems. It appears that through the threads it has morphed and there is a little here and a little there and I'd like to ensure I am not leaving something out.

One piece I don't believe I have read yet is the actual entry, when using the HA - Ave Bars that's not the real price so executing on a HA print is not necessarily going to get you in.

Do you just do market with a 5-6 pip stop do you switch to regular candles and enter on a break using CH or do you apply the CH Reversal break to the HA, or do you enter at the next BN?

I have all the docs/PDF from the beginning threads, but again I am not sure everything that applies today is in there for marrying the 2 methods. Any help or guidance the group can give is greatly appreciated.

What a run EUR/USD had today out of the Tokyo channel.
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