Right now I’m working on harmonic charter, to add auto trade system. It finds patterns very well and just after the D point exceeds B point, but I need specific rules to set in the expert. If you can provide me with the rules, I can update harmonic charter to use them
I don’t know how korHarmonics work internally to detect the patterns.
The indicators I found on the internet use zigzags to find patterns, mine not. Mine is a little more CPU intensive, specially if there is no pattern in the range, but finds more patterns, better patterns and finds patterns that are just forming, not only completed ones.
And mixing with the features of harmonic charter, the detector allows you to change the detected pattern to see what happens with the fibo levels and fibo time series.
OK…I know Tmoneybags allueded to some ideas about hedging a couple of thousand posts ago, but I’m still waiting for info about website, his latest evolved trading method, etc…so, I want to present a minor hedging strategy to see what you guys thinks…obviously you must first have a broker that allows hedging. I came up with this because I get tired of getting stopped out by 1 pip above my stop loss, then watching my perfect D work like magic otherwise…like today on EUR\USD at the high of 1.3376 when the D entry sell set was 1.3367…10 pip stoploss hit with 3 pip spread (just reentered for my 30 pips, but netted 20 pips, arrg!) my idea in this real life scenario, re-lived, is to hedge by having a buy limit order for same volume (it was 1 std lot) at 1.3369, with TP at my other sell order’s stop loss, which I would have made a little bigger, 15 pips, (the tp point needs feedback from you guys, please) with a stop loss on the buy limit order maybe just below the D entry (comments, please)…then, in dreamworld theory with no spreads and no back and forth whipsawing of price, i get around a 10-15 pip gain from buy limit being hit and then price hopefully reverses and completes the D pattern for my usual 30 pips…what do you think, guys?
I think it is a good idea, but there is the problem that the market indeed goes back and forth a lot in small ranges, enough to break your stop for the sell, then for the buy, then for the sell again.
I have another way that seems to work the best until now. You detect a pattern, then place a trade once you see a reversal candle, just at the level nearest fibonacci level, the one that could not be penetrated and closed passing it.
Then you readjust your pattern to have the D point at that fibonacci level, and then you know where is the target.
I’m doing that right now (from 3 days ago, that I got my “light bulb working”) and it seems to work pretty good. Doing that on almost all the trades make the retracement touch the 61.8CD.
Starting today I will be thoroughly analyzing the markets and sharing market signals with those who are on my contact list. Currently as of 9:30pm est I am in the Euro/USD Euro/JPY and Euro/GBP Long for a range of 50-130 pips from which we will take around 30-60 pips from the move :).
February 14 - March 13, 2012 Statement Summary ~ 108% return (4 weeks)
Nice Results. Just curious, when you use to trade which such a huge account, why are you trading for relatively small profits here?
Also, you mention you are currently long on EUR/JPY, I see a nice big ole Gartley with good convergence completing at 111.42 that I plan to trade. What is the reason you are in that trade for? Further more, if you think the Euro is on a move up, why try to trade 3 euro pairs?
just because the euro is going up doesnt mean that all the euro pairs will move together and for the profit, yes this is obviously a different account size meaning that the amount of profit differs; the important thing to look at is the ROI
BTW the stop on these entries are a close of the previous swing low on the 30/hourly time frame.
So is the reason for the 3 long positions simply to ensure a profit and minimize a loss? Or have you just analyzed all 3 pairs and come to the conclusion that each one is on a move up?
And yes I like ROI, with ROIs like that, the sky really isnt the limit!
I also want to thank you for being one of the few extremely successful people that gives back. The knowledge I have gained and my little trading success has been due to your posts on here. It has literally saved my life!