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Craig Harris Stochastics Method

  • #3,761
  • Feb 28, 2011 8:50am Feb 28, 2011 8:50am
My first chart post. EU on H1 at 8:00 pm last night EST. Yellow vertical lines show candles that were entry and exit candles. Notes show entry and exit prices. For entry, candle price closed just above 5 ema, and had TDI agreement on next candle so entered. Exit when TDI was above blue line and started to flatten. Very clear what to do. Thanks Big E!!!!!!!
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  • #3,762
  • Feb 28, 2011 9:23am Feb 28, 2011 9:23am
bythepound,

You entered on the set up candle not waiting to see the color of the entry candle...
  • #3,763
  • Feb 28, 2011 9:31am Feb 28, 2011 9:31am
johnsund,

Looks like a pretty clean trade. Congrats...
  • #3,764
  • Feb 28, 2011 9:33am Feb 28, 2011 9:33am
2 comments; First you don't know for sure the second (entry) candle will be blue or red until it closes, especially in the current unpredictable market and secondly you did not have green over yellow until at least the 4th candle. Aggressive, and it worked, and I did the same thing except on my platform I did not have green over yellow until the 5th candle.
  • #3,765
  • Feb 28, 2011 9:38am Feb 28, 2011 9:38am
We look for a candle to cross the 5 ema and then close (set up candle), When the next candle opens being the same color as the set up candle... we enter the trade... check your TDI for confirmation...
  • #3,766
  • Edited 8:48pm Feb 28, 2011 9:46am | Edited 8:48pm
Bill,

Knowing that the odds are in my favor that the swing will average 3-8 candles on the HA Candles... I enter as I stated above knowing if nothing else I'll profit on the entry candle or more. A 3rd entry candle on the 5 min or 15 min. chart might only be 3-10 pips while on a 4 hr. chart it is 20-40 pips normally... therefore room for profit.

As you know nothing is 100%... but the odds are high in my favor. My odds increase the higher timeframe I go...
  • #3,767
  • Feb 28, 2011 9:49am Feb 28, 2011 9:49am
rotunda,

Congrats on your success....
  • #3,768
  • Feb 28, 2011 9:54am Feb 28, 2011 9:54am
  •  sam21
  • | Joined Aug 2010 | Status: Soon to be employed by the market | 125 Posts
IT is still gonig
  • #3,769
  • Feb 28, 2011 9:54am Feb 28, 2011 9:54am
  •  sam21
  • | Joined Aug 2010 | Status: Soon to be employed by the market | 125 Posts
h
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  • #3,770
  • Feb 28, 2011 10:38am Feb 28, 2011 10:38am
took EURUSD short on 15 min @ 1.3809 stopped out @1.3818.
Signal looked good, or did it?
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  • #3,771
  • Feb 28, 2011 11:00am Feb 28, 2011 11:00am
hi, guys. here is three trade I took last night. all three close with +50 pips. I found out if you wait for the TDI green line cross TDI yellow line, and TDI red line point at same direction with green. ( maybe or maybe not cross yellow line, but very close to yellow is better) . the red vertical line on the chart is my entry bar. the yellow vertical line on the chart is where I am close. ( when the green of TDI reach 68, I am exit)
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  • #3,772
  • Feb 28, 2011 11:12am Feb 28, 2011 11:12am
eelfranz,

Very nice system by the way.

Question, do we use a don't trade against the trend sma?
For example don't trade against the 89 sma? The eur/usd
was bouncing on both sides of the 5 ema shift 3 this morning
for some quick but fairly fast moves on the 5 minute chart.

tks

snarlyjack
  • #3,773
  • Feb 28, 2011 11:15am Feb 28, 2011 11:15am
Quoting doaman
No offense meant but unless I am reading Big E's post all wrong he says he looks at the 4 hour and Daily for setups. If he finds a setup he then goes to look at the profiles of his lower time frame charts to decide on entries.

As far as I know that is the order in which most traders work

Regards
non taking. but look the under as Big E said: I am still think he mean looking for trade from small TF and works his way up:
I'm off and online here and there all day. First thing I do is go up to PROFILES... select the my 5 minute set and 8 charts pop up... if no trades I go to 15 minute and 8 charts pop up... if no trades I go to 1 hour in my Profiles and 8 charts pop up, 4 hr & Daily. That means I can look over 40 charts in 3 minutes or less. Do you know how to do that? You'll find trades. Follow the rules.

and Big E if you see this, could you clear for us, thanks.
  • #3,774
  • Feb 28, 2011 12:56pm Feb 28, 2011 12:56pm
i have been reading watching and experimenting with your 5 method... its so simple have to fight my desire to keep adding to it. you can count me as one of your students, your generosity is commendable. this is one great thread.
am going to set up a live treading act through fxdd and use compass fx to do it as i found this site through compass fx.
demo trading is a good way to learn but hard to get the motivation to wake up during those early hours, am in new mexico, i think for me it will be better to put a little, maybe 1% or even .05% risk, in a live micro act as a motivator.

a question has anyone used the "Forex Executor Pro"?
it allows stops, oca orders,moves stops to break even, use one trade with many legs ect. on the meta trader platform. the info is kept on ones computer untill triggered. the danger i see is if the computer goes off-line - so do the stops. one could put a hard stop in but if it is not closed after the trade is over that stop could become live. wondering if this is worth using?
thanks again,
normana
  • #3,775
  • Edited 1:29pm Feb 28, 2011 1:16pm | Edited 1:29pm
Quoting galldg
took EURUSD short on 15 min @ 1.3809 stopped out @1.3818.
Signal looked good, or did it?
galldg,
Hard to Tell your entry from the chart...
If you entered on the candle with the Gold vertical line it looks like you have entered late. The entry was probably on the open of the red "Doji" looking candle 7 candles back from the last candle . The previous candle crossed the 5ma (barely), the Stoch is crossing down and the TDI is crossing down. The only warning sign i see is the TDI cross is up near the 68 line not near the 50 line...


Quote From Big E
We look for a candle to cross the 5 ema and then close (set up candle), When the next candle opens being the same color as the set up candle... we enter the trade... check your TDI for confirmation...
EllisEdi Moving on to my next trade ...
  • #3,776
  • Feb 28, 2011 2:04pm Feb 28, 2011 2:04pm
Yep - and it cost me............
Quoting eelfranz
bythepound,

You entered on the set up candle not waiting to see the color of the entry candle...
Without vision, the people will perish.
  • #3,777
  • Feb 28, 2011 4:32pm Feb 28, 2011 4:32pm
Quoting normanauf
i have been reading watching and experimenting with your 5 method... its so simple have to fight my desire to keep adding to it. you can count me as one of your students, your generosity is commendable....

I have used both Forex Executor Pro and MYFX. I prefer MYFX. In fact MYFX is something that has helped make my trading less stress free. The only advantage Forex Executor Pro has is that it has OCO. If you have a US account, mine is MB Trading, then MYFX does not use the OCO. But its interface is much, much better. They have a trial. Check it out.

Steve
  • #3,778
  • Feb 28, 2011 5:27pm Feb 28, 2011 5:27pm
Quoting SteveW
I have used both Forex Executor Pro and MYFX. I prefer MYFX. In fact MYFX is something that has helped make my trading less stress free. The only advantage Forex Executor Pro has is that it has OCO. If you have a US account, mine is MB Trading, then MYFX does not use the OCO. But its interface is much, much better. They have a trial. Check it out.

Steve
This is my manager of choice too, Steve. I use MYFX every day. It *does* have OCO though, when and if you enter 2 POs on the same pair, each in a different direction, it gives a pop-up window asking if you want to treat the trades as OCO. You can select to have them treated as OCO or not.

Regards,
Neo
Sentiment: Short on cash. Long on hope.
  • #3,779
  • Feb 28, 2011 5:30pm Feb 28, 2011 5:30pm
Galldg,

Your not trading the 5 method... what system are you using. On the 5 method you would have entered 4 candles earlier... for a profit going short.
  • #3,780
  • Feb 28, 2011 5:41pm Feb 28, 2011 5:41pm
Michaelwen,

Congratulations on your wins. As long as green continues up on the TDI I stay in the trade... Your exit worked too...

Lets say I see a trade set up on the 4 hr. chart... I'll look down at the 1 hour chart to see what it's doing before entering. I don't check all time frames below the 4 hour.... just one time frame below the chart I want to trade.
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