iwantu2brich
Member
- Messages
- 73
- Likes
- 0
Harmonic Trading and my ABCDE pattern
- Thread starter iwantu2brich
- Start date
- Watchers 21
- Status
iwantu2brich
Member
- Messages
- 73
- Likes
- 0
iwantu2brich
Member
- Messages
- 73
- Likes
- 0
Ladies and gentlemen!
I have something special for you. I is really emotional for me when I present markets I'm not trade. So, this is for fun purpose. I also bring to this, my good mentor, Steve Nison, but he don't know about it, sssss!
First, mr Nison, can you bring some knowledge to us? Of course, he can! :
http://www.candlecharts.com/highlights/June7update/
This was some video from him, because I'm a subscriber.
And this is situation we have today:
Uploaded with ImageShack.us
So, market found a support, yea! And tell me you don't see my formation... Look closer it is in the direction in this support. I see it, you can too, look:
Uploaded with ImageShack.us
And guess what... 56,4 AB = CD! YEA!
I have something special for you. I is really emotional for me when I present markets I'm not trade. So, this is for fun purpose. I also bring to this, my good mentor, Steve Nison, but he don't know about it, sssss!
First, mr Nison, can you bring some knowledge to us? Of course, he can! :
http://www.candlecharts.com/highlights/June7update/
This was some video from him, because I'm a subscriber.
And this is situation we have today:
Uploaded with ImageShack.us
So, market found a support, yea! And tell me you don't see my formation... Look closer it is in the direction in this support. I see it, you can too, look:
Uploaded with ImageShack.us
And guess what... 56,4 AB = CD! YEA!
iwantu2brich
Member
- Messages
- 73
- Likes
- 0
As we expected from my formation that market should make a new high, and always we expect this behavior when my pattern occurring! Chart below:
And this is also a target, because market close today and make Bearish Engulfing Pattern:
Uploaded with ImageShack.us
And this is also a target, because market close today and make Bearish Engulfing Pattern:
Uploaded with ImageShack.us
iwantu2brich
Member
- Messages
- 73
- Likes
- 0
Thanks! In future I will present some models in context, so my knowledge more and more, merge itself!
iwantu2brich
Member
- Messages
- 73
- Likes
- 0
For people who using Scott Carney 5-0 formation i will present some warnings when it occur in context with my formation.
This is link to 5-0 formation from harmonictrader:
http://www.harmonictrader.com/The5-0Pattern.pdf
And this is my drawing of it:
Uploaded with ImageShack.us
And now, did we sell at point D?
So as you see, this is a matter of context, and context is usually bigger picture and bigger picture is bigger time frames, and grander experience. When you have experience from past trades and your research (years), not all formation is good for trade it!
Uploaded with ImageShack.us
This is link to 5-0 formation from harmonictrader:
http://www.harmonictrader.com/The5-0Pattern.pdf
And this is my drawing of it:
Uploaded with ImageShack.us
And now, did we sell at point D?
So as you see, this is a matter of context, and context is usually bigger picture and bigger picture is bigger time frames, and grander experience. When you have experience from past trades and your research (years), not all formation is good for trade it!
Uploaded with ImageShack.us
iwantu2brich
Member
- Messages
- 73
- Likes
- 0
To putt it in other words and proper context I've found that 5-0 pattern works better in relationship to other bigger not contradicting formation, this is model of what i have on my mind:
Uploaded with ImageShack.us
SELLING AT D?
YES!
Uploaded with ImageShack.us
SELLING AT D?
YES!
iwantu2brich
Member
- Messages
- 73
- Likes
- 0
Sometimes ago I was pondering about Harmonic Trading in holistic approach, and I was realize what this means to me.
Harmonic Trading Harmonic, Harmonic... I was thinking about the first word, realize that it is not only about Harmonics on charts, but harmonic in all context, not only method, charts, trade management, but that is more to the equation:
Harmonic Trading = Harmony = Harmonic Patterns + Harmonic trader
Harmonic trader is me, harmonic patterns is natural law on charts. So maybe it is obvious for many, but for me this was positive breakout in my trading!
Many successful traders speaks about psychology, but for me Harmonic Trading is better description. Because it contain holistic concept about trader and his method! When I'd realize that, this feeling lead me to seek knowledge about myself, my emotions, psychology, and spiritual concepts, because I'd known that is more to this, something higher from only mind itself.
There was some books from W. D. Gann, interesting was only fact that I was fascinating more about his point of view on psychology, not methods! He spoke about Bible and some others concepts.
Next books was about NLP, some motivational psychology books, some like Steven Covey's books, Richard Bandler, Mark Douglas (Disciplined Trader).
Still, I was seeking some more that only intellectual concepts, and this lead me to Abraham-Hicks and Darryl Anka books and seminars. This is for me today, best motivational uplifting and inspirational materials about spiritual and psychological concepts!
So I like to share with you 10 min audio that I prepared for myself to listen from time to time:
http://eupload.pl/files/0Q6EAMFP/Trader_stock_1997-08-30-A.mp3
Harmonic Trading Harmonic, Harmonic... I was thinking about the first word, realize that it is not only about Harmonics on charts, but harmonic in all context, not only method, charts, trade management, but that is more to the equation:
Harmonic Trading = Harmony = Harmonic Patterns + Harmonic trader
Harmonic trader is me, harmonic patterns is natural law on charts. So maybe it is obvious for many, but for me this was positive breakout in my trading!
Many successful traders speaks about psychology, but for me Harmonic Trading is better description. Because it contain holistic concept about trader and his method! When I'd realize that, this feeling lead me to seek knowledge about myself, my emotions, psychology, and spiritual concepts, because I'd known that is more to this, something higher from only mind itself.
There was some books from W. D. Gann, interesting was only fact that I was fascinating more about his point of view on psychology, not methods! He spoke about Bible and some others concepts.
Next books was about NLP, some motivational psychology books, some like Steven Covey's books, Richard Bandler, Mark Douglas (Disciplined Trader).
Still, I was seeking some more that only intellectual concepts, and this lead me to Abraham-Hicks and Darryl Anka books and seminars. This is for me today, best motivational uplifting and inspirational materials about spiritual and psychological concepts!
So I like to share with you 10 min audio that I prepared for myself to listen from time to time:
http://eupload.pl/files/0Q6EAMFP/Trader_stock_1997-08-30-A.mp3
inzider
Guest
- Messages
- 48
- Likes
- 4
This is very nice approche. You seems to have establish some way to work on your own.
When you talk about psychology, books help but this part is really a self road. (my2 cents)
When you creates habits of trading, then prtchology get into play.
At start you only search for a technics, but then you neeed to apply it.
Psychology is : will I apply my techs in all time or I am a dscrationnary traders. What is the drawdown I accept, what is my Take profit. Knowing all this is nice, but put it in pratice is REALLY something else. This all theorical things seems very beautiful in words, but will you stick on it in between a deep drawdown, or will you change you approch in middle of trading because of fear.
New people in FX dosen't understand psychology and even say its lost of time. It only show that they haven't get to a point were they can apply a technics day after day whitout getting out of box they create at first (apprich).
My point is, psychology is some of the last point a trader will fall on, because before that he need to have fait into a "system" witch most of the newbies never get there. They only switch from system to system, but they can't understand that any system worth another, only the application differ. What make the real difference is the money manage and psychology. Technics are for newbies that still search the holy grail....
Wish you the best!
Soon!
Inz
When you talk about psychology, books help but this part is really a self road. (my2 cents)
When you creates habits of trading, then prtchology get into play.
At start you only search for a technics, but then you neeed to apply it.
Psychology is : will I apply my techs in all time or I am a dscrationnary traders. What is the drawdown I accept, what is my Take profit. Knowing all this is nice, but put it in pratice is REALLY something else. This all theorical things seems very beautiful in words, but will you stick on it in between a deep drawdown, or will you change you approch in middle of trading because of fear.
New people in FX dosen't understand psychology and even say its lost of time. It only show that they haven't get to a point were they can apply a technics day after day whitout getting out of box they create at first (apprich).
My point is, psychology is some of the last point a trader will fall on, because before that he need to have fait into a "system" witch most of the newbies never get there. They only switch from system to system, but they can't understand that any system worth another, only the application differ. What make the real difference is the money manage and psychology. Technics are for newbies that still search the holy grail....
Wish you the best!
Soon!
Inz
iwantu2brich
Member
- Messages
- 73
- Likes
- 0
Thanks Inzider!
You talk's about big drawdown, and that's ok, because in your posts when you reveal your strategy and from what I saw (correct me if I wrong), you risk very much, you potential win/loss ratio is smaller than 1.00 because you risk more than is your take profit!
You accept this because you have different approach and I think you are military training and have nerves of steel but in good money management you are in plus.
My strategy is different I cannot accept that my risk reward is even 2/1 (example 20pips win to 10pips risk) if that occur I consider this as a poor trade, and classify in my notebook of trades, as a lesson, as a gift from Market, and because of this I always ask Market "Why it is such and such?". Answer always come in time! Yes this is my world and this works for me. So much so, that majority of my trades and potential setups, have win/risk 7/1 or even more and this setups are fully tradeable, it is not my imagination. Often, I trade it with success, sometimes I loose but very very small percent cause stop loss, miss out or my simple errors (its so much to learn, and this is all fun!). I will reveal this later as we go on in Push to the limits concepts and models and those who want to understand this huge win/loss ratio, will...
You talk's about big drawdown, and that's ok, because in your posts when you reveal your strategy and from what I saw (correct me if I wrong), you risk very much, you potential win/loss ratio is smaller than 1.00 because you risk more than is your take profit!
You accept this because you have different approach and I think you are military training and have nerves of steel but in good money management you are in plus.
My strategy is different I cannot accept that my risk reward is even 2/1 (example 20pips win to 10pips risk) if that occur I consider this as a poor trade, and classify in my notebook of trades, as a lesson, as a gift from Market, and because of this I always ask Market "Why it is such and such?". Answer always come in time! Yes this is my world and this works for me. So much so, that majority of my trades and potential setups, have win/risk 7/1 or even more and this setups are fully tradeable, it is not my imagination. Often, I trade it with success, sometimes I loose but very very small percent cause stop loss, miss out or my simple errors (its so much to learn, and this is all fun!). I will reveal this later as we go on in Push to the limits concepts and models and those who want to understand this huge win/loss ratio, will...
Last edited:
inzider
Guest
- Messages
- 48
- Likes
- 4
Hi!
You are right I don't use a win ratio like you. But still, if you take 4 loss in a row I think its preatty much the same. Psychology will get into play.
I understand your approch about "poor trade" and respect it. Any trader need to find his way. All this blabla on forums is a tool, not the answer.
The only insight I could give here is that you are better whit a large Sl if you have a win ratio over 70 or even 80% This is proven on math. (have a look at the pics you can see that having a larger SL obviously take the win ratio up, but on the other hands will reduce profit ratio).
So there's the psychology of the traders coming into play again. Do he have the faith into what he's doing/seeing, into himself and the technics he apply. Only then you can use larger Sl to get a better win ratio, as larger position. Before feeling confortable whit trading, wide SL is kinda suicide. Or at least better be tried on demo first.
Take care!
You are right I don't use a win ratio like you. But still, if you take 4 loss in a row I think its preatty much the same. Psychology will get into play.
I understand your approch about "poor trade" and respect it. Any trader need to find his way. All this blabla on forums is a tool, not the answer.
The only insight I could give here is that you are better whit a large Sl if you have a win ratio over 70 or even 80% This is proven on math. (have a look at the pics you can see that having a larger SL obviously take the win ratio up, but on the other hands will reduce profit ratio).
So there's the psychology of the traders coming into play again. Do he have the faith into what he's doing/seeing, into himself and the technics he apply. Only then you can use larger Sl to get a better win ratio, as larger position. Before feeling confortable whit trading, wide SL is kinda suicide. Or at least better be tried on demo first.
Take care!
Attachments
iwantu2brich
Member
- Messages
- 73
- Likes
- 0
Yes, good point!
With this "taking 4 loss in a row" It is much similar to one big loss. And yes psychology is the key, to unlocking your potential and faith and knowing (yourself and your capability and strategy/system). Speaking about psychology, someone "like" or accept 1 big loss from time to time, and another person "like" 3-4 smaller losses and deal better with that.
My point is not to prove anyone something about win/loss ratio, because I cannot do this, even if so, its obvious to me that even I do, it still depends of any individual!
Anyway, my point is that you can still increase your win/loss, by increasing awareness in one of this things:
-Psychology (good state, good emotions, knowing yourself, your emotions, how it works, believing, purpose in live, mission in business)
-Good broker (small spread, good pairs/stocks with small spread and high liquidity)
-Better technical analysis (trader learn all his live)
So my intention is only to bring, for those who attract this information, better understanding of market geometry (my formation, HT formations)! I use this forum primary for myself, to sharpen my knowledge, inflame my passion, archive my ideas and secondary for sharing! I can write a book on this subject but this forum gives me opportunity to interact in almost real time with market, ideas, peoples. Sometimes ago I was on couple closed forums and it was not so big fun for me, so I decide to share on this forum, cause it have sweet colors and simplicity. So I thank admins and founders for this great forum!
With this "taking 4 loss in a row" It is much similar to one big loss. And yes psychology is the key, to unlocking your potential and faith and knowing (yourself and your capability and strategy/system). Speaking about psychology, someone "like" or accept 1 big loss from time to time, and another person "like" 3-4 smaller losses and deal better with that.
My point is not to prove anyone something about win/loss ratio, because I cannot do this, even if so, its obvious to me that even I do, it still depends of any individual!
Anyway, my point is that you can still increase your win/loss, by increasing awareness in one of this things:
-Psychology (good state, good emotions, knowing yourself, your emotions, how it works, believing, purpose in live, mission in business)
-Good broker (small spread, good pairs/stocks with small spread and high liquidity)
-Better technical analysis (trader learn all his live)
So my intention is only to bring, for those who attract this information, better understanding of market geometry (my formation, HT formations)! I use this forum primary for myself, to sharpen my knowledge, inflame my passion, archive my ideas and secondary for sharing! I can write a book on this subject but this forum gives me opportunity to interact in almost real time with market, ideas, peoples. Sometimes ago I was on couple closed forums and it was not so big fun for me, so I decide to share on this forum, cause it have sweet colors and simplicity. So I thank admins and founders for this great forum!
iwantu2brich
Member
- Messages
- 73
- Likes
- 0
"The only insight I could give here is that you are better whit a large Sl if you have a win ratio over 70 or even 80% This is proven on math."
Yes its proven and in the sense that's true, but what I want to tell is that, you don't have to increase your stop loss in order to increase your potential profit, because you can do many other things I've explained: psychology, better technical analysis, etc...
So, if you fine tuning, things like:
-Better broker (smaller spread)
-Psychology
You objective is technical analysis, better knowing market geometry. Simultaneously of course with psychology, cause you can always be better!
That means, this knowledge is only for those who have this things already and want better understand market geometry, HT, and my formation!
And for you Inzider and not only, I have challenge, because In my opinion you can prove everything mathematically if you want it enough!
For example this is challenge for peoples who using HT approach:
http://www.harmonictrader.com/price_patternsaltbat.htm
This is good example, because it's pure HT and all can understand this, challenge is:
Find 5 or more this formation and take a picture of it and paste on this thread.
You can think it's simple and I say it isn't, because you can prove your right if you badly want to be! So in order to prevent this, I give simple but powerful rule:
Formation must be presented on beginning of trend, it cannot be correction. Another words It have to change higher highs and lower highs to LL and LH. Opposite is true (LL and LH to HH and HL)
So, it must be double bottom or double highs. I will show what I have on mind in another post.
Yes its proven and in the sense that's true, but what I want to tell is that, you don't have to increase your stop loss in order to increase your potential profit, because you can do many other things I've explained: psychology, better technical analysis, etc...
So, if you fine tuning, things like:
-Better broker (smaller spread)
-Psychology
You objective is technical analysis, better knowing market geometry. Simultaneously of course with psychology, cause you can always be better!
That means, this knowledge is only for those who have this things already and want better understand market geometry, HT, and my formation!
And for you Inzider and not only, I have challenge, because In my opinion you can prove everything mathematically if you want it enough!
For example this is challenge for peoples who using HT approach:
http://www.harmonictrader.com/price_patternsaltbat.htm
This is good example, because it's pure HT and all can understand this, challenge is:
Find 5 or more this formation and take a picture of it and paste on this thread.
You can think it's simple and I say it isn't, because you can prove your right if you badly want to be! So in order to prevent this, I give simple but powerful rule:
Formation must be presented on beginning of trend, it cannot be correction. Another words It have to change higher highs and lower highs to LL and LH. Opposite is true (LL and LH to HH and HL)
So, it must be double bottom or double highs. I will show what I have on mind in another post.
Last edited:
iwantu2brich
Member
- Messages
- 73
- Likes
- 0
Frankly, I do not found any of this pattern in about 1 year or 2. Maybe I looking different or maybe it is not so many of them. So it still stay great challenge!:
Uploaded with ImageShack.us
Uploaded with ImageShack.us
Uploaded with ImageShack.us
Uploaded with ImageShack.us
inzider
Guest
- Messages
- 48
- Likes
- 4
All this make sens! Wish you luck whit it.
Gu is making a gartley right now! But we can't know in advance if this is correction or trend reversal obviously until pattern is fully accomplish. As we can't know if this will become a butterfly.
On 1 min TF you have a bunch of those, its not hard to find because this is the pure logic of price action...
Anyway, I leave you on this have fun!
Gu is making a gartley right now! But we can't know in advance if this is correction or trend reversal obviously until pattern is fully accomplish. As we can't know if this will become a butterfly.
On 1 min TF you have a bunch of those, its not hard to find because this is the pure logic of price action...
Anyway, I leave you on this have fun!
Attachments
iwantu2brich
Member
- Messages
- 73
- Likes
- 0
Thanks Inzider for this. I also saw this formation, but in my definition is not Gartley but Bat, but its not that important how you named it. Important is that it is a valid setup, after (in my case) some confirmation. I was involve, after candle confirmation on daily chart, and still waiting for entry, because my previous setup was broke. Reason why I tell this, is simple, my formation ABCDE! In a moment I'll present why this was a good opportunity. First thou, I explain what I do when my setup is broke! Obviously, when it occur and I Have another good possibility on different pair, I go for it! It's simple as that! When I don't have this luxury, I wait in active manner. What I mean by that is what I called
Blonde technique
Blonde attractive girl do not search for partner, because many men looking on her, simple but true, her live is full of potential partners. She have a choice which man is more attractive for her. So she don't feel "alone" and when she's dating and some man don't went on meeting, she don't care, because she have hundred phone numbers in her phone book.
This metaphor helps me a lot to integrate my emotions when my setup fail and when it do I always imagine this attractive simple method and compare with my behavior!
So I done it and gone on another market, but I will not show it, because I don't trade my formation, so this is not the case. And I was in plus.
Worth mention is definition of my bat pattern, but I reveal it on different occasion.
Now then! MY FORMATION confirm Inzider's approach!
Uploaded with ImageShack.us
Blonde technique
Blonde attractive girl do not search for partner, because many men looking on her, simple but true, her live is full of potential partners. She have a choice which man is more attractive for her. So she don't feel "alone" and when she's dating and some man don't went on meeting, she don't care, because she have hundred phone numbers in her phone book.
This metaphor helps me a lot to integrate my emotions when my setup fail and when it do I always imagine this attractive simple method and compare with my behavior!
So I done it and gone on another market, but I will not show it, because I don't trade my formation, so this is not the case. And I was in plus.
Worth mention is definition of my bat pattern, but I reveal it on different occasion.
Now then! MY FORMATION confirm Inzider's approach!
Uploaded with ImageShack.us
Last edited:
iwantu2brich
Member
- Messages
- 73
- Likes
- 0
iwantu2brich
Member
- Messages
- 73
- Likes
- 0
------------------------------------------------------------------------------------------------------------------------
iwantu2brich
Member
- Messages
- 73
- Likes
- 0
Now then!
Today I was playing, day trading. This was so good experience for me and my account, that I've decided to share some knowledge with you!
First I show you some potential setup I've consider to enter, but I didn't. This was because of second picture I will present below first. This first mini trend occur earlier, than this, on second picture, so I don't utilize this move on first picture, but for educational purpose this should be a good starting point:
Uploaded with ImageShack.us
I don't taken picture of opened position, cause market was fast. Also I don't utilize all this mini trend -marked red arrow, but Risk/Reward Ratio was 3:1 -not so bad...
Uploaded with ImageShack.us
Today I was playing, day trading. This was so good experience for me and my account, that I've decided to share some knowledge with you!
First I show you some potential setup I've consider to enter, but I didn't. This was because of second picture I will present below first. This first mini trend occur earlier, than this, on second picture, so I don't utilize this move on first picture, but for educational purpose this should be a good starting point:
Uploaded with ImageShack.us
I don't taken picture of opened position, cause market was fast. Also I don't utilize all this mini trend -marked red arrow, but Risk/Reward Ratio was 3:1 -not so bad...
Uploaded with ImageShack.us
- Status