Craig Harris Stochastics Method

MightyZoner...

Didn't like the stacked TDI's... Dean was talking about scalping in their use. I generally trade the 1-4 hour charts and I saw no advantage on longer timeframes.

FX-Trader...

Congrats on the CH Method trade buddy. I love to see traders win. I haven't used the AO Indicator for some time now. Look at PA when AO crosses 0.00 line on the indicator for a possible trade.

MightyZoner...

Your Post #3534. I would have taken both trades but I'm a more of an agressive trader and put more brass on the line

However... for those more conservative you follow Dean's rule of no trade (Ex.) long unless green is over red, yellow and 50 line. He admits you'll miss out on some trades but it's the safest... you choose.

stevepatt...

Could you post your E/U chart you took the loss on. I'd like to study it... thanks

MightyZoner,

Re: Post #3535

1. Entry on the beginning of candle 3
2. Resistance... ok if you had entered on candle 3
3. There is no trade there... consolidation and rather flat.

Post #3536

Guesstimate in some of of my posts means I'm using my years of skill, knowledge, experience, etc to interpret what I'm seeing. It has nothing to do with a blind guess ! That's what newbies do.... guess. Sorry if I confused you...

As per the rules on the 5 method... both entries would have been on candle 3 on the two charts.

Vanaris...

My main trade zone is London Open to 2pm Eastern time... some times within that range are stronger as discussed in earlier posts.

I peek at the charts now and then all day looking for anything unusual however the Asian session is normally slow. Probably better for scalping...

I have been noticing 20 pippers around the Tokyo open, sometimes the signal comes a little before or a little after, on the 30 minute chart. At that time of day I only look for the eur, eur-jpy, & aud. I only try for that first little burst, though, & don't watch all evening. And I set a limit at 20 & don't try to hang on for any more.

johnsund...

Post #3739 . Thanks.

Littlebunny,

I recommend that traders get a steno pad (appx. 7"x9", wire bound on top) for keeping all forex info that works. Like that special time frame and those charts. As you research old charts you'll discover other great times that repeat 70-80% of the time... keep track and review at least 1-2 times a week... Including trading rules and how your indicators are set up... it's invaluable in the future for your trading success...

Thanks. I have a steno pad from when I was a secretary. My good boss (he wasn't the one who fired me, he was stuck without a secretary & not any happy) & I were old school, he gave me shorthand & I brought his coffee. I'll get it back out & make some notes.

Hi Big E,

Here's the EU chart, I entered short at the Aqua line with a 75 pip SL and 150 pip TP.
The TDI was good for entry but the Stochs where showing over sold.
If I had been monitoring the trade I would have exited at the third attempt to break the Yellow line on the chart which was old support turning to resistance going back to the beginning of the year.

Took this trade last night on the daily timeframe because it looked strong... trade still going

stevepatt....

Thanks. Are you home when the new day starts on your chart? If so, enter on the beginning of candle #2 as in your chart. You were in profit for several days it looks like. Don't get greedy when you see the candles consolidating... exit and take your profits... thanks buddy...

Big E,

I can enter as the day starts. Your right about taking profits if the market starts to slow down, I've been too focused on getting my 1:2 RR ratio.

Eelfranz,

Yellow line still showing up trend so this is not a good setup right? Can i know what is the out come?

Exited UC trade, which I entered at daily open on 17th Feb, for 95 pips and the GC trade for 77 pips.
There could well be more pips to be had in these trades but I can't be here to monitor them so safer to exit whilst well in profit.

Entered a long on AU at daily open today again with a 75 pip SL and a 150 pip TP.

1st chart post from me and first trade using the Big 5 method 15 minute chart (demo account)

10 pip profit

Used a 5 pip SL and kept manually raising it as the price progressed, price snapped back 6 or 7 pips and my SL was taken out with 10 pip profit.

It might also be noted for the newer traders relying on the TDI that during the one hour from 0700 - 0800 GMT on the G/U that the HA candle switched from red to blue and the sequential order of the colored lines on the TDI changed numerous times most notably from a sell sequence to a very strong buy. With the G20 going on at the present time and other news it is important to keep a watchful eye. These indicators can change rapidly withing the timeframe, most notably on the lower times. That "second candle" entry can come back and hurt you. Currencies are basically driven by news with technicals providing detail.

Thanks Bill - I did check the news but with the G20 not due to start for an hour, I just went for the trade and just blindly followed the 5 method rules. Maybe just a lucky one.

Just be careful on any trade involving the Pound as they are very edgy right now about the future of interest rates. This morning there was talk of a potential hike and the Pound shot up with no warning. Any MPC or BOE member who speaks can cause violent moves.