Craig Harris Stochastics Method

Here is the BN indicator I use.

Thank you for your magnanimity in sharing and teaching other traders what you know in this excellent thread. There have been countless questions on entries, exits and stops to which you have responded with just as many explanations and examples. However I have not come across questions [unless I have missed them completely] on re-entries after successful exits to re-join the trend.
Re-entries should be of great interest to many traders. Could you please tell us how you deal with re-entries with example charts.

Thank you once again for your patience and willingness to share.
Wishing you well and continued good health.

bythepound,

Avatar? Where...what? Helmet? Getting ready for the daily 4x battle... well, withdrawl... lol... It's my money and I want it now! ... as one commercial says... but it's true... I want it now... As the Good Book says... puttin' on the armor to prepare for battle... Grand Poopaw... well, a silly whimsical(sp?) name just for fun.... light heartedness... don't want to get too serious after all... lifes to short...

doaman,

Re-entries are more a part of the 21/233 method (page 202).

However... Take a look at the TDI green line as it moves up or down against the red line. Often it arcs away from red and then comes back to red and arcs away again.... This is on the 5 method.

On the 21/233 the PA arcs away from the 21 ema and then returns to the 21 line and then arcs away again until it finally comes back to cross the 21 ema or red TDI line on the 5 method.

Re-entries happen when the arc comes back to the line and then arcs again. Your adding lots to the original active trade...

I woke at 2:15am this morning. My 4 hr charts update at 2, 6, & 10. So I thought I'd take a peek. Well.... I entered 3 trades on the 4hr charts. All three are still active. Two are up $539 and the other is down $-36... It's 9:44am right now so I'll wait until 10 for the new candle and decide to ride the trade or exit.... again, look at the position where the vertical line crosses the TDI for your signal... Come on gang... how tough can this be... I wake up and am very sleepy at 2:15am... check out the charts and three TDI's are giving a signal as discussed a gazillion times... I jumped in and went back to sleep... you can too...

Marked this chart... Green over red on the TDI.

Training Chart...

Showing where the initial entry would have been (bounce off the red line on the TDI) and the original exit (where the TDI went flat). I might have exited 6 candles earlier where the TDI first went flat. Then I show two different areas of re-entry. I would have exited both of those trades when I saw the TDI go flat, hook over or check mark reversal... easy to determine exits on any chart. Entries are always when green CROSSES red on the TDI... Over 80% chance of success...

Come on guys... I know your trading... post your charts for comments... good, bad or ugly... don't be lazy... do it please...

I went back to page 202 where I introduced the 5 method and the 21/233 method and read forward. I have made a lot of live trades since that time and I find it interesting how I started out sharing a very conseravitive 5 method to how I now trade the more aggressive way I do. What I discovered was that I gained many pips and yet I didn't increase my losses so why not be more aggressive...

I know a lot of you are afraid to trade the 4hr charts...why?... cuz someone sold you a bag of crap about your S/L being to far away... 50-80 pips, etc. In your mind your thinking I can't afford that... like chicken little running in circles... get a grip gang. Seriously now... Look back at any 4hr chart where there was a reversal where you would have entered a trade using the 5 method. If you had entered the trade on the 4hr chart... and put your S/L at the last swing hi or low... even 100 pips away... how many times has it come back to hit your S/L in the next couple of candles? I can't find one example of that happening anywhere... not one....

So the larger S/L really means nothing accept if the sun don't rise and the chickens don't lay... it would save your account but I've never seen that happen on a 4hr chart.... probably has once ever 1,000 trades.

What I'm getting at is don't be afraid to enter a 4hr trade at night if your going to bed if the TDI gives you a set up. At least try it on Demo. I'm telling you that once you start trading 4hr and Daily charts you'll fall in love with them and the pips you make... You'll wonder why you ever traded on the lower timeframes.... That's where the dealers steal the most money from traders who don't know better...

I'm retired but suppose I was a working stiff from an 8am-5pm job. I entered at night (took 4 minutes) and went to bed... didn't have to watch , no nail biting , no pulling hair out , you get the idea... just sweet dreams . Before going to work you close the trades... simple, clean and easy. Practice on Demo to build your confidence... it's free and you know everyone loves free things. I've been there... step out of your comfort zone...

No excuses... get off your poor me pity party and just do it... forget the excuses if you want to become a more successful trader... if not, just take a nap and call it a day.

Hello Eelfranz,

I see you look at your 4hr charts 2AM which is 5AM (Eastern) my time which is 10AM London time. So with that being said I’m guessing you stay away from the Frankfort power hour 2AM-3AM Eastern which would be 11PM-12AM for you.

I’ll back test (review) 4hr charts but was curious on your experiences with that 4hr candle.

Thanks!

JD

bythepound what pairs do you trade?

JD,

I just happen to wake up at that time (2:15am) and looked at the charts/TDI and placed the 3 trades off my 2 o'clock candle. I normally check the 10 o'clock candle at night and go to bed then. Euro doesn't open until 11pm my time. If I enter I wan't to be on the candle when green CROSSES red and don't want to be late unless it's a re-entry on a bounce of green off of red on the TDI. Even if you only caught a couple trades during the week you would make great pips...

Power Thoughts
from Perry A~
"Contrary to popular thinking, being worthy isn't something you earn, it's something you recognize. And once you do, you won't be able to think, speak or behave in any other way than as if what you most wanted was meant to be."
Mike Dooley

Hey Big E, regarding post #4105, on this aud/usd 4h chart.. what kept you from selling this on the way up where there were 2 crosses before your sell at the top (I drew red vert lines where I probably would have gotten in short)? This is where my problem has lied, getting in on the crosses but thinking it's a turn when it's not..
Thanks,
Adam

I only trade the four hour because I am a working stiff... 7 am to 3:30. I check my charts every fours. I have my laptop at work which fortunately has guest wireless outside of the company network.

It is a great way to trade folks - listen to eelfranz. He is not just ranting here, he speaks the truth. I consistently lost money until I started trading the higher time frames. I may not be as agressive as eelfranz but I have been demoing the 5 method a lot, while live trading a more conservative version of it (I was waiting for the green to be at 50% on the TDI before entering).

I tried scalping the 1 min, 5 min, then "got brave" and began trading the 15 min when the Craig Harris method was first posted. But I will only trade 4 HR now. The only thing I need to work on now is letting my winners run longer. My default SL is 60 pips and I shoot for 50 pips TP.

USD/JPY, USD/CHF, USD/CAD, EUR/USD, EUR/JPY, EUR/AUD, AUD/JPY, GBP/USD, EUR/CHF, EUR/CAD, EUR/GBP, GBP/CHF. I usually have a default stop of 60 pips and a TP of 50-60 depending on the pair. I do not always wait for the stop or tp to exit a trade. If I am up say, 45 pips, I might just exit right then. If I am down say, 45 pips and it looks like the indicators are working against me I will kill the trade.

Atate49,

I'm usually only on the charts at late night or early morning... so I only catch 2-3 candles a day. On that chart it was an obvious up trend... but when I caught green Crossing red... I took the trade... remember I'm expecting a 3-8 candle move too.

Training Chart....

Note that both these 5 method entries were over the 68 line on the TDI and both went positive over 100 pips profit each...

Trading Chart....

Another 5 method trade on the G/J over the 68 line on the TDI.

Training Chart...

2 Trades above the 68 line on the TDI...