Craig Harris is completely wrong since you do not see where your swing high or swing low is until it completely forms. He is talking about taking advantages of 30-60 pips from recent swings, but they can't be traded until the second bar is completely closed lower or higher depending on what swing you want to look for, since it will repaint. Therefore, you just can't look for trading opportunities by using fractals or a zig zag indicator. It looks great while looking at the historical charts, but in live trading, it simply does not work that way. It is a common misconception with people that haven't actually tried trading it in real time.
Craig Harris is completely wrong since you do not see where your swing high or swing low is until it completely forms. He is talking about taking advantages of 30-60 pips from recent swings, but they can't be traded until the second bar is completely closed lower or higher depending on what swing you want to look for, since it will repaint. Therefore, you just can't look for trading opportunities by using fractals or a zig zag indicator. It looks great while looking at the historical charts, but in live trading, it simply does not work that way....
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Hi Antonioforex.
I agree in what you say about Craig Harris way of trading look good on historical charts but is very different in live trading.
But not for the same reason you are talking about because the way i understand it he do not use fractals and zig zag.
Maybe you did not play all his videos? I think i found around 7 or 8 videos in total. He use stochastic and what he call "big numbers"
If i remember correct the numbers he use ends in: 00, 10, 20, 35, 50, 65, 80 and 90 or something like that.
So as you see he covers most of the numbers from 0 to 100 and he even talk about that you do not have to be exactly on the the numbers but close to them..
In my head that means in reality he say any number from 00 to 100 is ok and then you can do more or less the same without the numbers in my opinion.
If he was talking about only, lets say numbers ending on 00 and 50 (or something like that) then i would see the point but he covers them all more or less.
That in my opinion brings it all down to the stochastic with a setting of 8, 3 and 3 if i remember correct and i can not believe that he can teach most people to trade profitably using that alone.
Maybe Craig Harris can trade it but then he have to use a lot of discretion added to it and that is hard to teach to other people (again in my opinion..)
But enough about Mr. Harris. My guess is that Romex did not want to show us how to trade using the stochastic but maybe he wanted to show the basic idea of trading natural swings in the market and that seems to me like a very interesting and logical concept and i am looking forward to hear more about what Romex have to say about it.
I agree in what you say about Craig Harris way of trading look good on historical charts but is very different in live trading.
But not for the same reason you are talking about because the way i understand it he do not use fractals and zig zag.
Maybe you did not play all his videos? I think i found around 7 or 8 videos in total. He use stochastic and what he call "big numbers"
If i remember correct the numbers he use ends in: 00, 10, 20, 35, 50, 65, 80 and 90 or something like that.
So as you see he covers most of the...
Ignored
The reason I referred the readers to the Craig Harris video was for the following reasons.
1.I wanted to find out if there was an article somewhere that very closely resembled the system that I am using at the moment – Rather than write everything down and then posting it. I do not know what actual method Mr. Harris uses to implement his ideas, so I cannot comment as to how good or bad his strategy is.
2.I wanted some confirmation from another source that could do a better job than I, to demonstrate to other Forum members that making 75+ pips on a daily basis is not that much of a crazy idea. By the way I am NOT going to post Excel documents etc to demonstrate how well I have done the last 3 months, that information is strictly personal. In fact all my posted charts will come from a demo account on a 2nd computer. These days there are some pretty good hackers around, and I do not want my live account to be tampered with. As to how the hackers would do that is something I have no clue about.
3.I wanted to show that readers that there are many opportunities daily to make at least three 25+ pips trades. Provided of course you trade the hours when the market is most active. Of course you do need to put in the time and the effort that is required to make a living from the market.
When I first started this thread I pointed out that I only take long trades when price is above the pivot and short trades when below the pivot. I also pointed out that the MACD BB was the only indicator I used. My original method is still fine, but because of the insistence of the pivot direction, I was missing out on some lucrative trades. On days when the market is ranging I was literally missing 50% of Trading opportunities. Now with the shackle removed I find that I do not need to spend the much time trading as I used to. So my methodology has changed and I will give you all the NEW information in a day or two.
I hope that all that have seen the Harris video realise that to take advantage of these 20-40 pip trade situations you will need to be trading the smaller time frames as “entering early” in the trend is the key to this method’s success. More often than not even the 5 min chart is too slow. Hence I trade the 1min chart only, and I have repeatedly pointed out that this is not a scalping strategy. Take today for example It was a great day for trading EUR/USD and GBP/USD, but only AFTER the US session open. I was not able to take advantage of that, the reason being that I had already made my 75 pips in the quieter European and UK session. Before I made my 3 successful trades, I had three break even trades,two trades showed 15+ pips and one for 22 pips profit before I was stopped out at my break even point. Since I am now taking more trades, I have a Break even after 10 pips EA running on my charts at all times. As mentioned before rarely will I settle for less than my 25 pips. BUT more about charts, Take profits, stop losses and general new trading strategy in my next post.
thanks for sharing your approach. I loaded the MACD BB to my charts and looked at the whole month of August on a 1min level, there is certainly potential there !
You are right, the MACDBB signals several good opportunities for these 25+ pip moves each and every day
Still, targetting 75 pips and more each day is quite something... get stopped out, take one or two bad trades and you will be glad you finished the day up 20 pips...that's what describes my current situation.
Maybe you could post some of your trades so that we can get a feel for it.
When I first started this thread I pointed out that I only take long trades when price is above the pivot and short trades when below the pivot. I also pointed out that the MACD BB was the only indicator I used. My original method is still fine, but because of the insistence of the pivot direction, I was missing out on some lucrative trades. On days when the market is ranging I was literally missing 50% of Trading opportunities. Now with the shackle removed I find that I do not need to spend the much time trading as I used to. So my methodology...
Ignored
Looking forward to your next post! It's never easy joining a thread that, like a locomotive has already left the platform and catch up. The system has evolved and I am not clear what the actual current definite indicators are? I did dl the original ones on page 1. I would appreciate a review to bring us current and up to date, with the latest actually-used and recommended indicators. Someone also mentioned a template before which would be nice.
Hi everyone,
has this thread dried up? Maybe Romex has given enough to get on with for now; in any case he is dropping in and out of this conversation/ teaching thread. I wonder whether people would like to share how they have adapted this system in their daily trading? How have you understood and interpreted what's been shown so far into a consistently profitable system - I need someone to sum it up with the definitive indicators. Like previously mentioned a tpl would be great too.
Hey just had a read at this thread last night. Seems very interesting. Followed up on the system also on the Eur/Usd pair and led to a few very good trades.
My question is when do you move your SL to breakeven?
Hello and thank you Romex for all your teachings. I am currently reading through your posts and have started doing those tasks in your first post.
However I do have one question, and this is for anyone who has an answer, is there a place I can download the RCI-TC? I searched on this forum and I could not seem to locate where to download it from so I can use it.
Thanks!
Is it me or did this thread die a long time ago?! Where did Romex go? And ive been trading his method for about 2 weeks now and there does not seem to be alot of set ups.
Mabe find 1 or 2 for each pair a day if I am lucky and the market is moving.
Is it me or did this thread die a long time ago?! Where did Romex go? And ive been trading his method for about 2 weeks now and there does not seem to be alot of set ups.
Mabe find 1 or 2 for each pair a day if I am lucky and the market is moving.
Hello and once again thank you Romex for all the knowledge you have given. I am excited to begin trading with this strategy once I have grasped all that it is. However, if you do decide to post again, I would appreciate it if you talked about leverage and how you use it when using this strategy.
The reason I say this is because in your first post you talked about how you, and how we can as well, use this strategy to make a daily profitable income. But in order to do that, you would need to use high leverage in order to obtain a decent amount of profit, wouldn't you? Or not? I would appreciate your opinion on this. Thanks!
