Just got home for lunch to find my book has arrived!!!
I’ve also been reading the “Harmonic Trader” pdf, which has just been released for free, so am interested in comparing them. For those interested you can get it here (apparently for a limited time only):
http://harmonictrader.com/TheHarmonicTrader.pdf
Because it is quite large, you should right click the link and Save As, otherwise it might hang while trying to download and open at the same time.
:)
I think their Good, great analysis. That is exactly how we want to predict price movement. This way You know when and where to get in no matter what direction price heads.
Thanks Tmoney!
SweetPip, I thank you for sharing this article. I have been buying at B and selling at D (as outlined by this methodology). I did not want to impose that technique in this forum as it focuses on the D sells. The combination of the two(2) however gives tremendous results.
Thanks again!
Bank
Sweet Pip, You’re gonna love this book, It has already arrived to my place too.! I wish I have more time to participate in the thread but I’ve been full of work these days (thank God) just want to say that as a reader I’ve had the greatest experience studying and practising.
Thanks TmB! Keep up the good work.
BankDaPips I follow your examples everyday, they’re so helpful and I see you’re improving fast! Congrats man!
Finally our patience has paid off and not only did we make meet our 30 pip goal, but we also made an additional 30 pip bonus on the pair for a total of 60 pips. See Bellow:
In addition, the following orders are still valid and each of its respectful patterns are still possible (scan through the recent posts for patterns). I have personally removed all entries and since some of them are MAJOR I expect them to reach their respective D’s just in time for the next London session. Good day!
Thanks wrtm, you just gave me a booster up there! I continue to follow, read, learn and enjoy as you do!
Bank
Hey TMB,
Can you explain your stop-loss philosophy a bit more. I know you use visual stops, and you mentioned before using them loosely on the yen pairs. But with the double EUR/USD trade you took today, how far would you have let price go against you? Price went past your first entry by a little over 30 pips and also triggered your second entry. It became a very nice trade, but I guess I’m curious as to where you would have gotten out if it had continued south.
I’m trying to pre-determine the places I’ll get out of a trade, and it can be so hard sometimes when I’m watching price and I want to move a stop because I see resistance or something. But, since I can ALWAYS find a reason to move a stop, I’m concerned that’s just the emotions getting in the way of sound trading.
Hi Bank,
Just a little confused about the buying at B and selling at D… I don’t recall that part. What page is it on?
Hi SweetPip, it begins at page 44.
Ok, yes if using just a basic retracement trading method “X,AB”, then for a bullish retracement, you’d buy at B, and a bearish retracement you’d sell at B.
However, this setup can lead into a “CD” leg in the AB=CD pattern, and if so, then you’d still trade the same direction for D as you would for B…no? In otherwords, Buy at B, and Buy at D assuming a bullish pattern, or Sell at B and Sell at D assuming a bearish pattern.
Sorry if I seem a bit nitpicky, but there is a big difference from Buy at B and Sell at D…
Hi SweetPip, What I was actually saying is that in up trends I buy the Bs and Ds and Sell the Cs and Vice Versa for downtrends. In regards to the AB leading to a CD leg, that happens, not very often, but it does as with GBP 15min 11:15am to 1:30pm today. No problem with the nitpicky part, I suppose you are saying for the benefit of anyone reading I should clearly have specified the difference for up and down trends. Point taken.
Thanks!
Bank
I’m a little confused by this. In uptrends you would want to buy the Bs and buy the Ds in bullish formations, and in downtrends you would want to sell the Bs and sell the Ds in bearish formations, right?
So, in uptrends only trade bullish gartleys and bullish butterflys and in downtrends only trade bearish gartleys and bearish butterflys.
*Disclaimer: I haven’t read the ebook yet so perhaps there is an element to this that I’m missing.
Anyways, saw a possible bullish butterfly with an AB=CD on the AUD/USD, might put in a buy at .7350 later tonight.
Yes I suppose it’s all in the context used or taken…lol
Have you checked out Daedalus’s thread…301 Moved Permanently
It’s all about that.
Sorry Lavaman, that is correct Buy Bs, Sell Cs and Buy Ds in uptrends vice versa for downtrends. Will edit what I posted.
Thanks SweetPip, only that it seems as if that thread is dead or sleeping.
That’s what I was trying to point out too…
Hey Sweetpip, you could have just said that. I mean corrected me. Suppose this was my actual thinking, I would have gone doing madness because you probably were too ginger in correcting me :).
Thanks for the correction!
Bank
Yes I’m always being accused of being just a little too diplomatic…lol. Ok then, next time no mercy!..lol
