Harmonic Trading

This is a discussion on Harmonic Trading within the Forex forums, part of the Markets category; Hi, Does anyone use harmonics as part of their strategy if so does it give you an edge in your ...

Reply
 
LinkBack Thread Tools Search this Thread
Old Jun 22, 2011, 10:23pm   #1
 
Pipsaholic's Avatar
Joined Jun 2011
Harmonic Trading

Hi,

Does anyone use harmonics as part of their strategy if so does it give you an edge in your trading? Is it worth buying harmonic trading analyser software?

Thanks.
Pipsaholic is offline Other (Please email T2W with details)   Reply With Quote
Old Jun 24, 2011, 5:34pm   #2
Joined Jun 2011
Re: Harmonic Trading

Learn to do it manually, it takes a little longer to learn but it's worth it.
They work well, don't get greedy.

Scott Carney literature is my favorite on the subject.
jpadventure is offline   Reply With Quote
Old Jun 24, 2011, 7:19pm   #3
 
Pipsaholic's Avatar
Joined Jun 2011
Re: Harmonic Trading

Pipsaholic started this thread I found an indicator that does it for me called zup86 I believe.
Pipsaholic is offline Other (Please email T2W with details)   Reply With Quote
Old Jun 24, 2011, 7:24pm   #4
Joined Oct 2006
Re: Harmonic Trading

Quote:
Originally Posted by Pipsaholic View Post
Hi,

Does anyone use harmonics as part of their strategy if so does it give you an edge in your trading? Is it worth buying harmonic trading analyser software?

Thanks.
Buy them all, better to get it all over and done with.
pboyles is offline   Reply With Quote
Thanks! The following members like this post: wackypete2 , Joules MM1
Old Jun 26, 2011, 6:09am   #5
Joined Jun 2011
Re: Harmonic Trading

You don't need the software or the indicators. Unless you run a quad cpu setup, expect cpu cycles to be stolen by the trading platform, which is typically MT4. Nen, wrote the book (literally) on the how to build a harmonic pattern indicator using MT4. However, it is cpu intensive and you can expect to re-write the entire ball of wax when you move (or are forced to move) to MT5. That's because Metatrader, in all its wisdom has decided to make MT5 so much better, that it won't be backwards compatible with MT4. Poof - just like that, most of your MT4 code is null and void.

Ensign software has the Larry Pesavento harmonic pattern study built into the charting package, but it is tuned specifically for Larry's favorite, which is the Gartley 222, but it will show you the ratios as they are made by the market.

Korharmonics, Search Patterns and the others are all ZUP knock-offs and each one of them have their own set of problems. There a couple web based companies out there that have shown on shame in ripping off Nen's original source code, relabeling ZUP and selling services online, so be on the look out for that as well.

Again, you don't need it. All you need is a good ZigZag indicator to get your eyes used to catching the swings that trigger the X to A leg. After your eyes get used to seeing it often enough, your brain will do the rest by locating B, C and D for you. You will also need a Fibonacci drawing tool, which should already be part of your charting package. That's it. A good ZigZag indicator that does not repaint and a Fibonacci tool. The rest is time, talent and skill, which will come with experience and exposure to the patterns.

Now, get out there and take on those Harmonics!

Oh, to answer your question - yes. They are indispensable to the trader who knows how to use them. Knowing how to apply the structure of harmonic patterns to your actual trading is just as important as knowing how to plot the patterns on your screen manually.

Run a quick search on YouTube for: Pesavento Patterns. Watch videos 4 - 9. Then visit http://harmonictrader.com/price_patterns.htm and read more about the patterns. You don't have to buy anything, just read about the various patterns that Larry did not cover. You could buy books on this stuff, but that's for somebody who is really, really, slow on the uptake. You have all you need on the web and some good sources of information already at your finger tips.

In all honesty, you can get up on harmonics within 1 week and be able to demo trade them that following Monday, if you focus your attention on what's important about harmonics. You are not going to find too much of that on this sight, because quite frankly, this is not a very technical site for traders. Put 'harmonic trading' into your browsers search engine and get yourself up to speed.

Here's another site that covers the ratios themselves rather exhaustively: http://harmonicpatterns.com/. Get familiar with the values for each ratio. Soon, you will be able to look at any nake chart in any chart type, and spot harmonic patterns with nothing but your own eyes. Of course, you will need a Fibo tool to ensure that harmonic ratios are present.


-------------------------
A Truly,
Stupid Cow
StupidCow is offline   Reply With Quote
Old Jul 6, 2011, 5:48am   #6
 
natureboy's Avatar
Joined Sep 2009
Re: Harmonic Trading

Stupid Cow nailed it, not much to say past that. Yes patterns can be the core or at least component of many methods. And yes, what is called zigzag these days (comes from Filtered Waves) is mostly what you need.

The fxgroundworks site has alerts and an indicator, which I had a better time with than the Harmonic Analyzer - your best off customizing an indicator for the patterns and getting your alerts that way. I use Multicharts/EasyLanguage, so not sure how alerts are in MT4
natureboy is offline Software vendor   Reply With Quote
Old Jul 8, 2011, 1:38pm   #7
NVP
 
NVP's Avatar
Joined Jun 2004
Re: Harmonic Trading

Quote:
Originally Posted by Pipsaholic View Post
Hi,

Does anyone use harmonics as part of their strategy if so does it give you an edge in your trading? Is it worth buying harmonic trading analyser software?

Thanks.
I have a Guitar if that helps ....

(sorry - unfair to post - but I just could'nt resist that one.....)

N
NVP is online now Coach/Trainer   Reply With Quote
Old Jul 12, 2011, 1:12pm   #8
 
1 Posts
Joined Jul 2011
Re: Harmonic Trading

hi there, here's a free link for harmonic elemental trading software. just register and install the file to mt4. good luck http://www.elementaltrader.com/fe/4199?r=y
spyshank is offline   Reply With Quote
Old Jul 12, 2011, 4:43pm   #9
Joined Jul 2011
Re: Harmonic Trading

Holy cow! Thanks for that detailed post about harmonic trading. Links bookmarked. Time to glue my eyes to another monitor screen!
market_bull is offline   Reply With Quote
Old Jun 12, 2018, 4:24am   #10
 
5 Posts
Joined Jun 2018
Link for account

Quote:
Originally Posted by market_bull View Post
Holy cow! Thanks for that detailed post about harmonic trading. Links bookmarked. Time to glue my eyes to another monitor screen!
Found this link. It looks like the creator of this strategy is not a good trader.

https://harmonicloser.wordpress.com/

Hope this is helpful.
davewin is offline   Reply With Quote
Old Jun 12, 2018, 3:10pm   #11
Joined Nov 2014
Quote:
Originally Posted by Pipsaholic View Post
Hi,

Does anyone use harmonics as part of their strategy if so does it give you an edge in your trading? Is it worth buying harmonic trading analyser software?

Thanks.
Tested it a while ago, really bad results, I mean it winning ratio is like random guesses, assuming you follow strict money management rules
hatemypips is offline   Reply With Quote
Reply

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Similar Threads
Thread Thread Starter Forum Replies Last Post
Harmonic Trading and my ABCDE pattern iwantu2brich Forex 116 Oct 24, 2012 12:18pm
Harmonic Analyzer Software Dan05 The Foyer 7 Jul 14, 2011 11:23pm
Harmonic/Fibonacci Ratio Patterns Trading Dan05 The Foyer 5 Sep 9, 2008 10:40pm
Anybody have Harmonic Trading Indicator sunil123 Technical Analysis 1 Apr 15, 2006 9:19am

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)