I think it would be educational to see losing trades. Can you post some of your losing trades, to analyze why they failed, and to see how do you place your stops and take profits? (I think most persons here place targets on 38.2CD or 23.6XAD, but not see where are the stops)
Thanks 
Well, I still have not caught up on the last few hundred posts, but I have noticed some mention of probabilities based on pattern type in the not to distant past. I personally have a goal of creating a statistical analysis of trades based on many different factors to give me a better understanding of what conditions would provide me a stronger chance of having a successful trade. That is a project as I go, and will require some time.
As far as stopâs and take profits, I am simply trying to maintain the original plan (for now) that TMB posted in his TMB Rules of The Trade early on in the forum. Sure, I have went against the rules at times for loss and wins, but if trading is about consistency then I am only hurting myself by doing that.
At the moment I only trade near London open and near NY open. I will only trade within a few hours of either. I have had the best results with that. On the flip side I have lost many trades outside of these times. I have no analytical data to support this information.
As I mentioned before. I have been away from trading for about a year while in school. I am really just getting back into it and having put so much time and effort into this strategy before, I figured it was a good ideal to stick with it. I actually did not have too much luck in finding a pair to trade today for London.
Iâm already doing that I did a program that detects the patterns based on the standard rules, measure the symmetry, the ratios, the time in which the pattern is âtradedâ, the levels that are touched before the stop, different levels of stop and take profit, the candlestick pattern near the point D, the detected trend from 1 minute to 1 month and different other measures.
I found that the butterfly and the crab are the best using the 38.2 for take profit AND stop loss for 1:1 risk:reward. Also found that all but crab are best when market is ranging, crab is best detecting reversals in trending markets. The bat and gartley are very good when market is in range, also good detecting small trend reversals.
If a confluence of factors, like the fibs, pivot point, round numbers, previous support/resistance and trend lines are all in the same place, then (obviously) the pattern is stronger.
Let see if this gartley pattern completes the C point and start to go to D
This is an AU 1H Pattern I have been following. I had to set a alarm on price alert to wake me up so I could enter it. I love any convergence on 61.8 of XA. Sadly time of day isnât the best. Therefore I reduced my total risk to 1/2 what I would if it were normal trading times.
The following is a 15m view and I can see a possible pattern forming that would indicate a reversal. Based on this the way I am going to manage the trade is to take 1/2 off at the 23.6% of XA and the rest at 38.2% of XA. My stop is 3 pips above the most recent high making it 15 pips or 1% of account.
FOLLOW UP:
I followed my âplanâ exactly. I closed off 1/2 the position at 23% and moved my stop to Break Even. A short time later price would make the move back up to stop me out and them later start heading down again. I was frustrated, but did not act on the frustration. About an hour later price started making a steady move in the opposite direction meaning that I had made a good call on the trade. It only lead to a 1/2% increase in my account, but that is better than a loss.
Sorry for butting in. Not sure if this applies or is helpful to either of you but I found Bulkowskiâs Stock Market Research in the past that discussed/ranked different patterns. It may not help with what youâre trying to do but itâs just another source of info.
EJ
Thank you VERY much. That will be extremely helpful for the type of analysis I would like to compile! At this point in my trading I admit I am technically âoverwhelmingâ myself with information. I am trying to go back and reread this post in its entirety, I have many of the books that are recommended in this thread, all in the middle of saving lives daily with a tough shift working on an Ambulance. HOWEVER, I know these things take time and have been organizing future reads/references diligently.
Cheers.
Bullish gartley on usdjpy 30m view. Confluences with trend line (4 hours) and round number at 80.50, 161.8AB=CD(price), 161.8BCD, 227.2AB=CD(time). Let see if it works
By the way, I traded some of the patterns you placed here, and some others I detected. My results: 1 loss and about 12 profits pretty good for my 2nd day trading all by hand Much better than my bot. I need to admit that some of the patterns were detected by the bot, but not pretty good, but they give me a hint to find the right confluence. Iâm thinking about publishing the detected patterns in a page once I test more the program.
[
I](http://www.UploadScreenshot.com/image/795583/9594570) locate a similar move on GBPUSD
I have been watching that U/J setup for a little bit now. I saw as the bearish Gartley formed creating a general D at your C. I didnât get to trade this for whatever reason, but noticed the pattern forming you posted. The UJ has some interesting things going on in teh 30m time frame as well.
Thank you for the G/U pattern as well.
Yeah, I traded the USDJPY previous gartley you said the blue circles show the take profits
if they were purple, then that means take loss, but this time they were take profits
Today I started to being profitable after a long, long time, (various months). I think I will fall in love with harmonic patterns 
The AUDUSD worked wonderful, and it could work twice, it is a sorry that I didnât trade this short, but I traded a long with it just before this short win about 69 pip win, so no pain hehehe.
Check out the A/U weekly chart (you could see it on daily too).
That is some great confluence right at the major high of the pair. I will definitely be watching for patterns on smaller time frames once price gets near this area!
Upcoming is another potential trade for kiwi. Though there are two potential entries on this one, I will pick the lowest one as it converges with a strong support area. Will see how this one goes
Iâm also in this trade 
letâs see what happens.
Do anyone here knows how to code applications that handle windows on MS Windows?
Well, good profits this night (for me). The kiwi give to me 14 pips, and audjpy give to me 23 pips Pretty good. The second part of the trades (i make a two part trade always) finished at breakeven, so it was a 5 percent profit for my account today
This other trade failed, taking a small loss. Doing a forensic on it, I think the problem was that I entered AFTER the pattern completed, and after the second test on the resistance, the pattern was not valid and broke the.
The lesson: always enter on the first test of the level. If you miss that entry, then look for another trade, maybe the same pair but on a different pattern.
Bullish gartley on GBPUSD M30
Nice confluences, bad thing it is on Friday near market close time 
[
L](http://www.UploadScreenshot.com/image/797680/4111082)ooking again on this chart, I found that the best place to enter is on the weekly pivot, because it is confluent with 88.6XAD, 161.8AB=CD(price), 261.8AB=CD(time), weekly pivot, daily pivot support, and 2 previous tests on that support level.
Although I was super tempted to enter the AJ trade, I didnât for the simple fact that it is Friday. I HATE Fridays! Nice trades. 5% gain off of 37 pips? Man that seems like a lot of risk. Maybe once I gain more confidence it wont seem so bad. Anywho, have a good weekend.
