lol, thanks for the comments, but I’m nothing more than a mere mortal lol.
I risk no more than 2.5% per trade, with the very odd exception, but never more than 5%, although these trades are very few and far between.
I’m finally on the verge of making a comfortable living from my trading 
I trade full time.
so do your trades happen once a week more? less?
and on what time frame.
i was thinking of taking after tmb and aim for a set amount each time 20-30 pips
and using 15-30-60 time frames i take it you aim for higher?
I trade when the chart tells me what it’s doing. I don’t always get it right, but they are high probability trades, and that’s the best anyone can do. Sometimes that can mean upwards of twenty trades a week, sometimes it means only two or three trades a week. I trade the 15min time frame and up, but I give more credence to patterns the higher the time frame.
I’m not too keen on limiting profit to a set amount for every trade. I think it’s better to let your winners run while trying to minimize your loses. This way it’s possible to have only 33% winners and 66% losers and still come out with a 20% gain, as was my experience the first two weeks I traded harmonics.
is your method very similar to the harmonic?
i guess instead of asking you so many questions i should just read the pdf!!
Reading the pdf is well worth the effort. Yes, I trade Carney’s method.
And no worries, I’m only too pleased to help.
Congratz on your 100th post.
i found and joined your site under the same user name as here.
So now i am off to learn, but i was wondering if i would still be able to send you my charts afterwards to double check im doing it right?
lol. 100 posts, just noticed that myself, thanks.
Yep, feel free to post charts here or in my chat room. Will always give feedback if requested.
Yeah it was kinda of suspicious when it was taking a long time to go down that it would go back up.
Whats 25% in four weeks mean?
Hi pbylina,
My account grew by 25% in the four weeks I’ve been trading harmonic patterns.
So if you had $1,000 then in 4 weeks it would be $1,250?(sorry if im dumb:))
Correct
I truly want to thank TMB for all this great information. Trade what you see should be arriving tomorrow and then its read, practice, read, practice. However happy to say I didn’t want to wait and found it on google books. Again thank you TMB you’ve truly become a mentor. here’s a link
hi to all…am i reading this right?? is it possible to have such a huge ab=cd inside cd leg…there is another pattern inside ab=cd but it failed…this one still holds,if it fails there is another extreme for X and it converges around 1,38-1,40…please comment… /orange line is where AB=CD ends and it have nice symmetry…thanks to all
By radofx at 2010-09-30
Hi there cashDemoN,
This is how I would notate the EUR/USD daily chart.
Using the orange fib, B reaches 0.382XA, which suggests a D point at 0.886XA. This ties in nicely with your X point (X1 on my chart). Using this as XA, B reaches 0.786 of this XA which suggests a D point of 1.272XA or 1.618XA.
Hey, Pleiadian.
What leverage percentage do you use?
Hi pbylina,
I risk no more than 2% per trade. However, if I’m particularly confident on a trade I may risk a little more, but never more than 5%, and these trades are very few and far between.
So for example if you had an account with $1,000, this would allow you to trade one mini lot with a stop of 20 pips (absolute max stop of 50 pips). Or you could trade 1 micro lot with a stop of 200 pips.
after following this thread for the past few months i came to a point where pattern recognition was quite simple. however, my biggest struggle was knowing which level of convergence was most likely to form the ‘true D’.
i thought that surely there must be a relationship between the retracement points of B and C that may indicate where a D point may form. surely there must be something to distinguish a .382 XA retracement to a .886 XA retracement with regards to a D point.
there is. and the answer is uncovered by Scott Carney. Certain posters on this thread have recently highlighted his work and i was at first confused at some of the words and conclusions being used… like PRZ, bat’s and crab’s and how a .500 XA retracement would see a likely D form in the .886 of XA!
after taking the week off from trading and reading and making notes on Carneys PDF and both volumes of his book Harmonic Trading, i am now much clearer on these harmonic patterns!
I would seriously recommend his work to you all! even if you chose to implement a TMB style of pattern recognition and execution, read carneys books and how he dissects each pattern to clearly identify projection points.
i thought all retracement patterns (<1.00 XA, D POINT) where gartleys and all projection patterns (>1.00 XA, D POINT) where butterflys! there wasn’t much differentiation between the two types of patterns. however, if you look at my next post you will see an attachment where i have made personal notes on carneys work to best describe the patterns and how certain projections are made… i hope this helps!
starting from the left:
the first column is the name of a specific pattern,
XA:B refers to the range in which the XA: B point should form,
XA: B IDEAL is where the Ideal B point for that pattern should form
AB: C range where C point retraces from AB
AB: C IDEAL is the ideal C point for that pattern
XA: D same as XA and AB examples above
XA: D IDEAL same as XA and AB examples above
AB=CD shows the level at which AB=CD, may be 1.00 or extension
BC PROJ is the range that make up the BC projection
BC PROJ IDEAL is the ideal BC projection
keep in mind that the PRZ is an area where a reversal is likely to form and in its simplest form contains a Fibonacci retracement/extension of XA, AB=CD and a BC projection.
also, these being my notes may contain errors and is my portrayal of Carney’s work. i highly recommend you get hold of Carney’s work for a better understanding…
during the week i took off to study Carney, its nice to look back at the chart and see an ideal pattern that hit all the requirements and bounced off the PRZ twice, the first time netting around 150 pips!
the following is a deep crab pattern since the B point was between .886 and less than 1.00. the C point was between .382 and .886. The D point formed at the 1.618 of XA, which converged nicley with the ideal 1.27AB=CD and was complimented by a 2.24 BC projection…
lovely!
