My name’s chrish and I’ve been trading the forex for… well… seems like a life time, but its a journey, not an end destination for me. I’ve struggled at the beginning early in my career as a trader and lost thousands of dollars. Since then, I’ve come a long way. … <many years pass> … trading profitable now for many years using strictly forex harmonics and have not even touched indicators, don’t see the reason. Its a long battle, but I tell you this for those who are new, don’t get discouraged… there are a lot of people that fail at this game just because they give up… if the forex has taught me one thing… its taught me most about who I am as a person, my personality, emotional makeup and what it takes for ME to be a trader and how that can differ for others… its just a matter of finding what works for you, tweaking it, and then you’ve found gold. I look forward to contributing where I can …
Hi Chrish,
Welcome and nice to hear from a long time successful trader to help keep us motivated. When you say harmonic trading, does that involve fibs?
Thats correct, its a collection of fibs all mashed together to give you a specific entry window… so instead of just using one fib replacement levels, you got multiple ones working for you … now hows that for probability? LOL hmm
Hi Chrish! As SweetPip stated is nice to hear from a long time succesful trader specially who uses harmonics.
It’s kind of what I’m doing right now, not sure if the same way you do, and I’ve been having quite a succesful journey with it.
I have a question for you…
Lately I’ve been trying to add fundamentals to my analysis, and although little by little I understand them, don’t know if they add a potential benefit to harmonic trading.
Do you use fundamentals at all? Or you’re pure technical.
Good! I’ve been focusing on fibs too…first it was just one fib and trying retracements, then it was gartleys & butterflies …on a thread called 30 pips a day keeps your money at bay…with converging up & down fibs, and now I’ve been playing with, I guess what I now call since you did, a mish-mash collection of them too.
Look forward to any charts you might post up as an example. Mine are on a thread called Indicators…Do I really need you? (Actually just a couple…lol)
Thanks for the warm welcome … I purely use technicals… the reason (my reason, doesn’t mean its the right reason) is that with technicals I have a logical place to put a stop when trading harmonics. If my stop gets hit, i have new valuable information … if I was trading with fundamentals, I’d be clueless on where to put my stop, because there is no placement, and stops to me are very important… after all they control my risk management …
for me to say, “I’ll put my stops 30 pips below my entry” doesn’t tell me any valuable information … although if I have my stop on the other side of support and it kicks me out, thats very good information to know…
one of the things I like about harmonics (and again, i’m not telling anyone what to do here, just my own experiences) is that when a harmonic pattern fails, its usually a VERY good thing to stay out of the trade…
Wish you much success … my only advice I will give out, is to learn a lot about yourself through your trading… its a wild adventure!
Sorry, I’m lost when it comes to threads, this is a big spot… but as a sample, i’ll show you a chart that catches my eye. Although this doesn’t mean its going to work out, but this would start off my analysis and cause me to look further into structure of the patterns, risk vs reward, etc…
If it helps, you can open an account on photobucket.com, upload your images, and then copy paste the html code of the image so we can see it bigger.
For what I see you trade 5, 15 min timeframes. Do you trade larger timeframes?
Here’s a pattern that I�m waiting for.
It’s on the kiwi 1hr tf. Just ignore the previous pattern I drew.
Might want to look at the structure of that one first… super and sub … i don’t mind getting into that, but lets do it in another thread, people here might get mad … at least thats what i get from these rules they wanted me to read… lol
