Craig Harris Stochastics Method

I don't know if Eric is going but I do know that this thread has enough members that understand how the 5method works that any questions that come up can probably be answered.

Eric hope you plan to check in from time to time. I for one consider you a friend.
Best to you and your health!

Guys,

I don't know what else to share... I've said it all a dozen times from different angles...

When I trade and am not at the computer I put the S/L at the last hi or low. I actively trade without a S/L as you know.... I got tired of getting stopped out... If I judged my entry poorly I'd rather exit and re-enter when it's better even if it's on the same candle...

What else can I do for you? You no I always help... Big E

John,

On the 4h chart showing the 1 loser... on a 5 0r 15 minute it would have been a loser but on the 4h chart you would have actually made about 30 pips...

Your S/L question... On your 5 & 15 minute charts... place your S/L 3-5 pips away from the previous hi or low on your chart. You will rarely ever get stopped out that way so don't worry about how many pips away that is... 5 & 15 m charts are for Gladiators because the brokers take most of those traders to the meat market as road kill... and that's why I prefer not trading those timeframes... I got tired of the horses dragging me from the arena...

TenFX,

The chart P/A and TDI tell me where to exit. Go back 10-20 pages and read to current... it's all there...

Vince, Fred... I'm always available to answer questions... just don't keep asking questions that have been answered a dozen times before... review the thread and charts and ask something new....

thanks eric, you have been more than graceful in handling all the mundane questions, over and over. more patience than i would ever have. i just like the thread to be lively for other reasons. ie: making the trading easier with ha alerts and other little ideas that some people contribute. i love the tdi histogram for example. using the last hi/lo for a stop has also helped me. the are so many good ideas that have appeared in this thread, and also the people here are very friendly towards each other. one of the best threads i have ever followed...........i hope it lives on. .........vince

Eelfranz,

The problem I have because of my schedule is that I can only trade
the n/y open for a couple of hours every day.

I usually trade from 8:00 a.m. est to 11:00 a.m. est every day.
I have been trading the 5 minute and 15 minute charts just because
of my short schedule.

But I have found the 5 minute chart not very profitable to trade.
For me anyway, maybe I think to slowly? The 15 minute chart is more
profitable for me.

Given my time schedule would you suggest the 30 minute chart or
possibly the 1 hour chart or stay with the 15 minute chart?

I would love to get my chart times figured out.

Thanks once again, Please don't leave...

snarlyjack

I think this has already been posted, but I looked and couldnt find it. Is there an indicator that alerts when the candle closes above/below the ma?

Hit the attachments button in the upper corner, choose hide images and I believe it's the 6th one down....
MA_Crossover_Alert.m..mq4(post) Mar 13, 2011 5:29pm 8.3 KB 36

I love this thread and there's a lot of fabulous people here who read and help out and I really appreciate it. There have been a few causing some grief and I blocked and sent them down the road... we don't want or need their grief... right?

Vince... I'm glad your picking up tid bits along the way that work for you.

Snarly-J... Ever consider trying the 4h charts when you get ready for bed? Look for the set ups and place the trade... use a S/L. Practice on Demo. Go back on old charts and study where you could have made trades at your bed time. See what your odds would be. Dean Malone in his trade room usually makes 30-60 pips per day (3 hours) and trades your current trading schedule on the 15m charts too.

What else do you guys want me to talk about? I'm open for suggestions or requests.

What are your main problem areas when trying to trade. Maybe we can help you out there.

Let me and others help you become a more confident trader... without confidence you got nothin' in this biz...

My attitude is "I'm gonna win every trade I enter". I'm confident. Now and then I get my butt kicked but so what... I learn from it and move on. I see it like stepping into a gopher hole... I didn't see it... I get up and get going.

Every time I trade I image going to the bank with my wheel barrow. I know there going to pay me... I just don't know how much today. Throw your fear into the trash... walk away and don't look back. I tell the market in my minds eye "I refuse to be beaten... I'm smarter than you because I've figured out an easy system to whop your butt". Don't take any crap from the market... your better than it is... don't listen to the downer rumors and excuses... kick ass in your mind and your attitude towards the market... I'm fired up the more I type it. Hot damm. Got to get a bucket of water to splash my keyboard to cool it down.... brb...

Trading isn't difficult... over coming your fears is the problem in most cases. Decide in your mind to take control & kick bootie. Until you do that you will never be more than a minimum trader. Tell the market to go to hell... your here now... grab the horns... get some... b.... well you know...

Fear in peoples lives destroys so many. There is nothing to fear in the market. Practice, practice, practice on DEMO. THAT'S THE ONLY WAY TO BUILD CONFIDENCE. I took a "year off" of live trading and just studied old charts building my confidence.... trading Demo Only. Now I have no fear to push the button... take the trade. Sometimes I exit too early and miss another 50 pips... so what... I'm on the prowl looking thru my charts looking for the next trade. If there is none... click off and check back later.

Develop the attitude "You can't beat me sucker" I'm here to clean your clock." I'm serious. Make the market bow to you!

Big E

NICE EEL....my challenge exactly..totally mental....you have nailed the entire challenge REGARDING trading in this post...THANKS!!!

You got me REVED UP and ready to go!

Hi Big E
In Texas we have cans marked "WhupAss". You don't want them to have to open the entire can. Is that what you give the market when you take those pips? I truly appreciated your effort, but most of all your patience. I have learned a great deal from you.

gmcc

Eelfranz,

Ok...so trading the 4 hour chart is new to me. So I'll be learning new
stuff here.

I'am on my way to work and I'll be gone for the next eight hours so
I made a buy (long) eur/dol 1.40817 in my demo account. I set
the stop loss (hard stop) at 200. pips (mini account, $1.00 per point)=
$20.00 . I set my take profit at 215 points or $21.50 just to give it room
to breathe.

I'am just experimenting with the numbers and I guess I'll find out at
6:30 a.m. Mountain Standard Time (Montana) how I did.

If this works it could be a great way to trade. It seems it's more of
a position trade than the 5 minute or 15 minute charts that I'am used to.

If anyone has any suggestions on how to do this I'am all ears. I'am
not sure if I'am using the right numbers for the stop loss and take
profit. Or maybe I should not use a take profit and just let it run?

Any way guys I'am open to all suggestions and comments.

Thanks

snarlyjack

Dearest Big E,
I started to read this thread together with my fiancée last month and it took a while to go all the way long till the end.
In one month we saw what you have done since 2008, when you opened it, and saw in fast forward the changes you made to Craig's system until you finally created this wonderful two methods.
We are very grateful to you for this effort of you.
I take your sentences of your last post where you asked for suggestions and requests.
Well, I think it would be nice if you can post some of the trades you've taken (I am not talking about giving signals) to keep the mood up.
Another thing that would be nice, is to correct other's trades if they were wrong and tell what was wrong with the trades went bad.
I would like for example to ask you what was wrong with these trades of mine I took few hours ago on GU.
I know what was wrong with the last one, since there were six news affecting GBP and I didn't remember to check them out, but the first three trades seemed correct to me (I attached the chart) .
The first one was a long, then a short, then long again (and I don't know why the dotted line is not displayed on the chart) and then short with the last one.
All losers
I need to know what I did wrong , since I strongly believe in this method and I truly want to be a successful trader.
I wish you all the best.
Fabius

P.S.
I was in with 2 microlots since I am still practicing with this method, so don't worry for my losses because I lost very few dollars (less the five) even though it bothers me the same (I respect money).
I don't believe in demo trading since emotions are really different, so I prefer going live and use microlots.

P.P.S.
With the fifth trade that is still going, I am +20 pips while I am writing this line

And after I posted my last post, I closed one position with +13 pips and opened then closed another one with 20 pips gain (I closed the trade because now I am a bit coward after the four hits I took early... and I didn't like what the oscillators were doing).
Maybe I didn't realize I was in a ranging market this morning (Italian time: GMT+1) but how can I avoid this? Maybe looking at H1 chart and then trade according to that trend as you mentioned some posts ago?
Thank you

Eelfranz,

My results on my first try with 4 hour charts, stop loss and take profit.

The results 8 hours later. Not to bad I think. Total profit $44.70

Bought in (long) at 03:16 (1.40817) liquidated at 09:01 (1.41264)
$44.70 profit. The take profit took the trade out. It was set at
215 points or $21.50 mini pips.

I at least made money and didn't loose money. That's always a good sign!

Any and all suggestions welcome...

tks

snarlyjack

I took this trade off the 4h yesterday and it's just hangin out for now..Any takes on this one? I'm wondering if there are any big reasons I should not have taken this trade or if it seems to fit the criteria here.. I'm not worried about it yet but just would like a second look and anything I missed while deciding to take this trade..thanks guys

Hey everybody,

hope you are banking $. I have attached a chart and explanation of last nights trading session, my observations and lessons learned. If it helps someone get an extra pip then it was well worth the time. If I could only overcome fear and boost confidence, I may have a small chance of being successful at this.

rustynail

Big E -

Thanks for the response. Am sold on the fact that lower timeframes are a waste of time and money, and trying to move to H4 for entry and exit signals. What I am going to do going forward is use an alert on H4 to consider a trade when either G > R or G < R. Then I will look at the timeframe one less than the current chart (H1 in this case) to determine what price is doing on that timeframe. As I recall from one of your earlier posts that is the sequence you use. Would you look at any lower timeframe than H1 if you were going to trade from H4? My plan is to use a SL just outside the last swing high or swing low from the H1 chart.

Comments and critique please.