Does anyone know of any free courses to learn harmonic trading patterns? Also, if there are not any free courses could someone recommend anything? I was thinking of signing up for the trade empowered harmonics course.
Thanks
Been trading harmonics for a while now and here are my thoughts.
Free resources: 2 things come to mind for written material. scott carney’s harmonic trader pdf and fxgroundworks harmonicmag which is good. both are free and probably read my a lot if not all traders who use the patterns i can imagine (if not they should be). once you have the basic understanding i would write out a trade plan of your own and then see what area’s have to be improved. most of what you learn is going to be from experience.
If you wish to use a paid resources they can accelerate things for your trading but i can’t recommend trade empowers course is 3000 which is a stupid amount of money to pay for education when you can probably get better education for far less. in fact anything would be less. i didn’t take the course but i sat through the sales presentation which was long and all their other tiny products and random systems they keep teaching is for their “for profit business” which they even explain in their videos. i can’t recommend that.
scotts webinars i’ve seen and they are long and not that interesting. its ok information but its seems for stock traders and that kind of market. some of the info can apply but there is better but most in the free resource. i didn’t see any value in the vol1 and 2 books on amazon, this is just my opinion. book 1 is better than 2. 2 is just rsi talk which you can apply on your own. id stick to your free resources for now and then look for tools that might save you more time.
Harmonic trading in my opinion and I’ve studied it in great deal does not work in the Forex market. I highly doubt it would work in any market. It looks great chart trading hindsight but reality is the Forex market has way too much volatility for such a method to work consistently enough to profit.
[QUOTE=“traderbary;637191”]Harmonic trading in my opinion and I’ve studied it in great deal does not work in the Forex market. I highly doubt it would work in any market. It looks great chart trading hindsight but reality is the Forex market has way too much volatility for such a method to work consistently enough to profit.[/QUOTE]
I’ve seen quite a few people use it in the forex market, very successfully.
[QUOTE=“zachster104;637113”]Does anyone know of any free courses to learn harmonic trading patterns? Also, if there are not any free courses could someone recommend anything? I was thinking of signing up for the trade empowered harmonics course. Thanks[/QUOTE]
How about trying to get a book and reading it.
Just a suggestion.
Thanks for great insight. I was merely asking for suggestions. As you know there are thousands of books and materials for trading but id thought id ask others. Hence the point of the thread :10:
Say’s the guy that has a roulette wheel as his avatar. enough said. lol i sometimes wonder why i ever come back to these forums. Then i remember that not everyone is like him.
start going north
Google it bro, all the info you need is out there for free. Word of warning but, price action is a much easier skill to master than harmonics. To be able to trade harmonic you have to see what the charts are telling you. We as humans lack the patience for this and tend to start to make things up to see what we want to see rather than whats there. Differentiate between the two and you will be on your way.
I appreciate your view; but that is YOUR view.
Price action in my eyes is very much subjective and based off a persons feelings. However when you use price action in the form of a pattern it makes you much more consistent. I started with trading the patterns, then in the beginning i looked at price action but now I just trade the patterns and stop trying to guess what will happen next and just do what the patterns are telling me.
Nothing could be less subjective then a repetitive pattern.
What do you think forms your patterns, its called price action. A pattern by definition is repetitive. And a pattern has no way of identifying future price movement.
While I can appreciate your input you must realize that price action is not what creates the pattern. If that was the case you could say price action is responsible for everything in the market which is simply not true.
The pattern is created from the residual effects of price action. If price flutters up and down 3 pips very quickly for 15 minutes this does not create the pattern because when you look back on the pattern you have no idea how fast price moved to create the bar.
The residual effects is what is remaining after the greater part or quantity has gone from the price action. What is left over is the pattern which is only showing the high’s and lows of the price action but not the “action” itself. This is why there are different types of charts.
And you couldn’t be wrong about patterns not identifying future price movements. They are patterns because they are repeated over and over again by the human behavior that controls your price action. If human behavior is not repetitive then I don’t know what is… in fact, I’m betting you drive to the bank the same way every day and don’t try to take a different route each time.
Harmonic trading has a lot of to do with wave trading and Elliot Waves, I would call it derivative method. I was using both of them in mixing but results were far away from what I expected. I returned to news trading, finally make a shift on fixed spreads Hotforex account. I feel that there is no chance to return to technical analysis again…
While I’d love to get into a big debate about this with you I simply don’t have the time. I will add but while your waiting for the market to retrace back to whatever fib level to form what ever pattern I’ll be busy racking up pips price action trading in the here and now.
And I would take a serious look at the market if you think human behavior drives price action in the market place.
But if it works for you that’s cool because so many traders have trouble defining themselves.
All the best pip hunting bro
Bob
But it is. It’s what the chart is made of. It’s what the history is made of. I mean, really?
So you’re saying here that it’s created by price action. But you’re adding a very weird element to this, you’re talking about the speed of the bar? Really?
What exactly are you talking about? The history of [I]price action[/I]?
This is true but it seems to have nothing to do w/ the rest of the post.