Craig Harris Stochastics Method

Some mornings you just need to stay in bed and not trade...

How does this trade look? My first one here but it seems this style makes sense for my short term trading. I am having a little trouble with targets and exits..welp just hit my targt as we speak so I guess it worked out. Thanks for sharing Big E and everyone else.

atate,

TDI, PA & Stoch looked great for your entry. Glad you scored!

Mili,
Thanks...

atate,

You need to learn how to read PA and the TDI to determine exits. Look at this current 4h chart... Look left on the PA, Stoch sucks, TDI flat...

Thanks Big E, I see what you mean there.. I have a tendency to zoom in during my trade which is bad b/c then I miss all those other times where price stalled and moved sideways on your chart..That's a big help to me, thanks.

Everyone have a good weekend and have some fun... and relax...

OK everyone... I want you to better understand and see what I see... On this 4h chart... Normally we want to enter on the second candle that crosses the 5 ema right? Well, that would be candle #4... I would have lost my edge and a large part of my odds for success knowing an average swing move 3-8 candles using HA Candles.

Look at the red verticle line... I'm half way up the Stocks on candle #2 and by #2 my TDI has already crossed going long. That is where I would have entered this trade... Open at 82.06 to buy.

4h chart... Entry and Re-entries on red vertical lines... STUDY THE TDI and Stochs positioning... it's the same on all charts and timeframes... I only see 1 real loss on the chart... high odds for success...

Seriously... how many pips a week would you like to earn consistantly? Are you making 25 pips total, 40, 60... what? The more trades you take on the lower time frames the more losses you'll have... Your putting the odds in the Brokers favor... Why not wait for the perfect set up on the 1 or 4h chart. I made only 2 trades last week on the 4h chart and made over 150 pips. So what if your trading mini lots... two good set ups and like me you would have made good pips... Don't be so desperate or in a hurry to get into trades... good ones come along all the time... wait until it appears, then grab it.

This is so elementry... showing over and over where to enter, any chart, any timeframe when Green crosses red on the TDI... There are more trades here but I didn't mark them all... they should be obvious to anyone following this thread...

It's true...

This is:

Hi Eric.... thanks for those higher timeframe charts.

Question: Lets say you enter on the third candle and everything is right but soon as you enter, prices moves against you 5 pips (plus spread) and you cancel as per the rules, then what do you do, wait for the next 4 hour candle (or do you re-enter on the same one)? I am struggling to see how you are managing to avoid a 5 pip drawdown on these entries so any help appreciated as always.

Putting a stop under/over the last swing at $10 a pip .... I don't think that's what you're doing, is it?

Ian

Have beeen looking back over H1 and H4 charts today, but am really used to trading from M15. Using the more conservative approach of G>R and G>Y and G>50 for long, opposite for shorts and success has been ok but with LOTS of screen time. Could you please choose a couple of trades that you show on the attached charts and indicate where you would have placed stop loss. As I review charts one thing I have noticed on the higher TF's is that rarely does the green cross back over red unless several candles in the same direction have formed. So risk of immediate reversal, as you show on the chart with the one loss, is very low. But I am much more comfortable using a hard stop.

On a related note, I have been using TDI alerts which allows a cell phone alert for user defined conditions on any timeframe. So, recently I established a G>R and G<R alert to be sent to my cellphone. I can set the alert to trigger either on the current candle (so it is immediate when there is a cross of green over red) or on the previous candle (so if at the time of the alert a new candle forms and can just look at candle color to determine if it is the same color) for immediate consideration of entry.

I then look down 1 TF to see what is happening there. If that candle is the same color and appears to have some momentum I place an order. But back to my original question. I have wrestled with SL. For several trades I used 10 pip SL and it was way too tight. Have been using 20 pips this past week and have about a 50% rate of entry being successful and 50% of the time get stopped out.

I know you don't use hard stops when you are watching a trade. When you are unable to watch a trade on an H1 chart what hard stop do you use? On an H4 chart?

Thanks for all you do.

I think we have reached the end... Thanks everyone... I hope this thread lives on to help many other traders... Bless you all...

Hi pls whats ur exit strategy

Read back through the thread it should be crystal clear. If people aren't prepared to read what's in front of them what chance is there to trade successfully.

It's far more constructive to search for an answer because in the search you learn a lot more than by simply asking a question. http://www.forexfactory.com/images/icons/icon12.gif

it seems that every good thread that goes to a chat room, dies quickly. is this just my observation, or have other people noticed it. seems like we can't just keep two good things going at the same time...........just my thoughts............vince

I hope big E is not disappearing as our mentor from the forum :-(

My only experience of forums V chat room is this one. I think there is a place for both. The forum is great for long term education whereas the chat room is more immediate and suitable for traders to notify each other of possible trades that are lining up.

I think both can be of benefit.

Fred