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Craig Harris Stochastics Method

  • #4,341
  • Apr 20, 2011 12:44pm Apr 20, 2011 12:44pm
Under the new aggressive style of the 5 method when we get green crossing red when do we enter if we have the kind of scenario in the attached charts. PA is touching the 5 EMA, do we wait until it pushes through, if so by how many pips or would we wait for the formation of the next candle on this one.
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  • #4,342
  • Apr 20, 2011 12:45pm Apr 20, 2011 12:45pm
am having second thoughts on this trde as it is in a tight channel with a bad risk to reward, ab out 20 to 60
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  • #4,343
  • Apr 20, 2011 12:54pm Apr 20, 2011 12:54pm
Quoting 2scoops
Under the new aggressive style of the 5 method when we get green crossing red when do we enter if we have the kind of scenario in the attached charts. PA is touching the 5 EMA, do we wait until it pushes through, if so by how many pips or would we wait for the formation of the next candle on this one.
For me. I would wait until candle closed on the other side of the 5ema. That would be the setup candle.
Could it be Man is trying to be something without knowing they're complete?
  • #4,344
  • Apr 20, 2011 1:06pm Apr 20, 2011 1:06pm
Quoting normanauf
am having second thoughts on this trde as it is in a tight channel with a bad risk to reward, ab out 20 to 60
Norm I want to refer you back to this post I did some time back where Dean does a Video on Average price bars. It might help you to decide if the move it strong enough to take the trade yet.
http://www.forexfactory.com/showthre...54#post4438454

I hope it helps!
Could it be Man is trying to be something without knowing they're complete?
  • #4,345
  • Apr 20, 2011 1:06pm Apr 20, 2011 1:06pm
Quoting normanauf
am having second thoughts on this trde as it is in a tight channel with a bad risk to reward, ab out 20 to 60
too close to that low of a couple of days ago and yes quite a tight channel
  • #4,346
  • Apr 20, 2011 1:45pm Apr 20, 2011 1:45pm
chewz...WOOHOO!!!!!!!!!!!!!!!!!!!!!! Nice trades!!!!!!!!!!!!!!! congrats!!!!!!!!!!1
  • #4,347
  • Apr 20, 2011 3:08pm Apr 20, 2011 3:08pm
The charts you posted are so clear and easy to read- a true thing of beauty! And congrats on those trades.....Susan~
  • #4,348
  • Apr 20, 2011 3:56pm Apr 20, 2011 3:56pm
You are all fabulous... wish we could get together for a BBQ. I'd buy the ribs by the gallon !!! I just love it... great name possibilities and I like many of them... Great trades where your kickin' booty on the market... honestly it does my heart good and puts a big smile on my face... thank you all...

Tried to fire up my main laptop a few minutes ago and it won't even fire up... 2 years old... swear I'm gonna buy an Apple or Mac laptop. In the old days I had one for about 10 years and NEVER HAD A SINGLE PROBLEM... not one. Just blowin' off steam...

I just gave away a Dell laptop to a friend... maybe I should have kept it... lol

It's 2pm my time so I'm going to go and check out the charts for a few...
  • #4,349
  • Edited 4:32pm Apr 20, 2011 4:19pm | Edited 4:32pm
2scoops...

On the Conserative method you would wait for PA to cross the 5 ema but that cuts down your odds for success... because it's usually the 3rd or 4th candle in the move before that happens and we normally only get a 3-8 candle move...

The more aggressive and my style is to enter as soon as you see green crossing red on the TDI. This happens normally on candle 1 or 2 placing the odds in my favor...
  • #4,350
  • Apr 20, 2011 4:22pm Apr 20, 2011 4:22pm
Numb3rs...

When you wait that long to enter... your bringing into play rules from the 21/233 method for entry...
  • #4,351
  • Apr 20, 2011 4:27pm Apr 20, 2011 4:27pm
So for the aggressive trade on the 4hr TF, you go long or short the moment the TDI green crosses red? One doesn't need to wait for that candle to close first when the TDI crosses?
  • #4,352
  • Apr 20, 2011 4:37pm Apr 20, 2011 4:37pm
Chews...

Fab charts buddy. How did you get them to post that large? Beautiful entries too. Thanks for posting...
  • #4,353
  • Edited 6:44pm Apr 20, 2011 4:56pm | Edited 6:44pm
One of the purposes of this thread is to teach traders to trade the higher timeframes... there is nothing to be afraid of. Many of you have finally converted and wonder why you didn't do it earlier... less problems on the 4hr and a lot more pips profit... just make a proper entry like on Chew's chart (TDI) and many more that I've posted...

When learning a new trading method you've got to give it 6-12 weeks. You have to start feeling comfortable with your decisions. It takes that long to build confidence... If your not willing to devote that much time then why even start it... just move on.

You must know I consider all of you as friends and associates and I would not knowingly mislead any of you. I just want to help by giving back and being your backstop in the game... coaching you to more and more success... Your success helps me grow and I thank you. I'll never ask you for anything other than your best effort so please ask questions or arrange a phone call from me for help... I certainly don't know all the answers but I'll share what I know and understand for your greatest success...
  • #4,354
  • Apr 20, 2011 5:16pm Apr 20, 2011 5:16pm
BJ1,

When I fire up my puter the first thing I do is bring up my charts page and glance at all the pairs. Since I trade the 4hr charts I do that when a new candle is about to appear... usually 10pm my time (Pacific Time). I look for trades that set up (green over/under red) at 10pm. If I see an entry I'll take the trade and go to bed. My "ALARM" goes off again about 1:50am just before the next candles appears for my time zone. When it's 2am I look for any new set up and if so I'll take the trade and go to bed. Takes only 8-10 minutes total. When the ALARM goes off at 6am (9am Eastern)we have another new candle. Normally I'll close all trades and go back to sleep... It's very easy and profitable... I don't trade day charts normally.

If you will do this before going to bed you eliminate the stress watching it go up then pullback, etc. Let the method and chart do it's work while you get zzzzzzzzzzzzzzz's... oh so sweet... simple...
  • #4,355
  • Apr 20, 2011 5:35pm Apr 20, 2011 5:35pm
Sounds good. I've always shied away from higher TFs b/c of the need for a bigger SL but with time being limited these days and with the profit potential offered, I'm going to start trading off of the 4hr too.

Quoting eelfranz
BJ1,
When I fire up my puter the first thing I do is bring up my charts page and glance at all the pairs. Since I trade the 4hr charts I do that when a new candle is about to appear... usually 10pm my time (Pacific Time). I look for trades that set up (green over/under red) at 10pm. If I see an entry I'll take the trade and go to bed. [b]My "ALARM" goes off again about 1:50am just before the next candles appears...
  • #4,356
  • Edited 7:02pm Apr 20, 2011 5:38pm | Edited 7:02pm
Look at the E/U 4hr chart... If you had traded it you could have retired in Disneyland... I didn't even bother to mark all the trades... this is easy money and easy trading... you find the entries...
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  • #4,357
  • Apr 20, 2011 5:39pm Apr 20, 2011 5:39pm
BJ1, Start practicing on Demo to build your confidence... and look for some angle on your 5 ema for best results...
  • #4,358
  • Apr 20, 2011 5:46pm Apr 20, 2011 5:46pm
I downloaded the TDI indicator but it doesn't look like the one on Chewz and other charts posted. Where can I find it? Thanks.
  • #4,359
  • Apr 20, 2011 5:48pm Apr 20, 2011 5:48pm
Hi Big E,

Thanks for sharing this and all of your knowledge. I was looking at the EUR/USD Daily chart and see there is a new setup occuring now. My concern is the time of day and also the fact that the pair has moved so much already. Would you take this buy trade? Sorry I can't post a chart since I am using my work computer to write this. Thanks again.... Tony
  • #4,360
  • Apr 20, 2011 5:49pm Apr 20, 2011 5:49pm
Quoting 2scoops
I would also love to hear a few other opinions on what SL to use on the 4HR - a general googling of the subject seemed to suggest anywhere between 60 -100 pip SL on the 4HR charts. I might go with 80.

Also what risk per trade, I'm thinking about 2.5% sounds right.

I'm up about 400 pips so far this week.
You're up 400 pips using an 80 pip SL per trade? Do you look at the last swing high/low?
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