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Attachments: Craig Harris Stochastics Method
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Craig Harris Stochastics Method

Big E,

Your last few posts have inspired me to give the 4 hour charts a go. In the past 18 months I have blown out a 2500.00 live account and countless 5000.00 demo accounts attempting to trade 5 and 15 min charts. My first attempt on the 4 hour netted 11 pips. I traded the EURUSD during Asian, was on wrong pair, AUDUSD moved 50 pips on same candle. Live and learn. Thanks and hopefully I will be posting many more H4 trades with higher profit.

rustynail
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Super insightful...super encouraging...
Like the fact that you've gone back an critiqued your own work and trades...
Keep up the great teaching...it is very much appreciated...
Cliff

Quoting eelfranz
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...

[font=Comic Sans MS][size=3][color=#0000ff]I know a lot of you are afraid to trade the 4hr charts...why?......
I get exercise just pushing my luck
Thanks for sharing your setups and approach to the Forex market...
Do you find that you favor to trade one pair over another?
Thanks much.
Cliff

Quoting bythepound
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.
I get exercise just pushing my luck
Eelfranz,

I think the 4 hour charts do work!

I set up my 4 hour (short) on the eur/usd last night before I
went to work. I remembered what you said about getting
at least three candles (95% of the time). When I came home
this morning I was up $25.00 on 1 contract on a mini account
using a hard stop loss of $50.00 . No trailing take profit.
( In the past I kept getting liquidated out before I moved my stop
to $50.00)

By the way the total 4 hour red candles were 4 candles before it
started turning long green the stochastic and tdi were pointing at
the 3:00 position so I liquidated the trade.

Thanks for all your help!

snarlyjack
Rustynail....

Dealers love it when most people trade 5 & 15 min charts because they usually don't have much experience and they eat them alive. The A/U chart has always been one of my favorite charts to trade... it has good moves. Your entry was good but it immediately went flat... exit time!
IMHO Big E has provided the keys to the kingdom in post 4109. For months he has been guiding and pushing and cajoling us to move to higher timeframes. I got the message, but had cold feet at the prospect. Have pushed myself to move to the higher TF, but post 4109 really had an impact on me and the how to finally sunk in. Have printed it out and posted it in BIG BLUE letters over my trading desk as reinforcement. Used to have all kinds of alerts going off: HA cross, moving average cross, 3 level zz peaks, etc., etc., etc. Now I have 2 alerts, and only on H4 chart: G>R and G<R. Nothing else.
Training Charts...
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Training Chart... It's 8am here and I won't take any 4hr trade at this time...
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Training Chart...
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Training Chart... 8:15am here... I don't take 4hr trades this time of day...
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Training Chart... 8:23am. I don't trade the 4hr chart this time of day...
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Training Chart...
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Hi E,
Love the training charts you have been posting.

Re post 4109...I get your point on the 4hr charts and the previous swing hi/lo stop never seems to get hit, at least on my review of the charts. What's your view on the 60 min chart though? That's what i've been trading lately.

Galldg
Hi Big E,
I and my fiancée are willing to convert to H4 trading but we would like to know one thing:
why didn't you take the trades on posts #4128 and #4130?
I guess that you didn't take the trade #4131 because it seems to be pretty flat according to 5ema and TDI, but I don't understand about the other two.
Thank you for your insights.
Best
Fabius and Denise
Galldg,

I don't normally trade during the day... but when I do I trade the 1hr charts...
  • Post #4,136
  • Quote
  • Edited Apr 6, 2011 12:23pm Apr 5, 2011 7:21pm | Edited Apr 6, 2011 12:23pm
Fabius,


Those were training charts for your learning curve.

Sometimes I post charts for trades I've taken that don't show the buy/sell line. I post them to help you learn... I have no one I have to impress but me... just trying to help you learn...

What did I write above the chart... I don't trade 4hr charts at that time of day... right?
Just closed this trade for 27 pips. I am starting to like higher time frames.
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Rustynail...

Congrats on your pips buddy...

Your entry was early... green hadn't crossed red yet. It could have bounced back...

Exit when TDI Green goes flat, fish hooks over or makes a check mark reversal...
Quoting eelfranz
Rustynail...

Congrats on your pips buddy...

Your entry was early... green hadn't crossed red yet. It could have bounced back...

Exit when TDI Green goes flat, fish hooks over or makes a check mark reversal...
Big E. one question. are you check the TDI Green goes flat when the current bar close. or as soon as Green goes flat or fish hook during the bar , you are out of trade? thanks
Just took the GBPCHF short. Tried to attach chart, but don't know if it worked--haven't done that here before.
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