30 Pips A day Keeps the your money at bay

Sorry friend, that is not a Gartley pattern. Not even close.

can you please reply why?

hi HMoneyBags, please explain why you chose to take this trade.

I can see that your pattern has had a reaction to the D point, but price had not been respecting the fib points before this, and i think tmb once said to make sure price is respecting the fib points before trading a Dā€¦ so i am wondering if there is something big i am missing here in why you chose to take that trade at the D. please explain?

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The AB leg has to be at least 0.618 retracement of XA. You can read about it here in the Babypips School:

Trading The Gartley Pattern

Or you could Google it. They will all say the same thing.

I hope this helps.

I think what he means is that a textbook gartley has the ā€œDā€ at the .786 XA and a ā€œBā€ at the .618

The term ā€œgartleyā€ in this thread seems to be used to describe any AB = CD pattern/extension

Falling within the .236 - .943 Fib levels (Non extention XA)

To clarify the fibs used on this threadā€¦ here is what Iā€™m using:

.118
.236
.309
.382
.441
.500
.559
.618
.662
.707
.746
.786
.836
.886
.943
1.0

Extension Fibs (Butterflyā€™s when applied to XA)

1.136
1.272
1.445
1.618
1.809
2.0
2.309
2.618
3.445

Here is a Monthly Pattern EUR/GBP

Hi All,

I have just installed KorHarmonics and am playing around with it. My interested was piqued when reading the school of pipsology harmonic pattern pages.

Am i right in saying (after quite a bit of research)ā€¦ that the skill, which comes from experience, is being able to identify point D, where the reversal happens?

My main question is about take profitsā€¦ the internet is filled with people who say to use different fibo retracement levels (some fro B-D, some from C-Dā€¦). How do you guys set your TP levels?

OP - do you use 30 pips exactly every time? I am looking to trade a few different time frames, so 30 pips doesnt always seem right.

With regards to Stop losses - does anyone have any rules for this?

Basically, I am a noob. So, for now, getting started it would be nice to have some harder rules to play by. Then as my experience grows I can start to create my ownā€¦

Thanks a lot guys, good luck.

Elliot

Hello TMoneyBags or Sweet Pips,

Hope you are doing good. It seems this is very informative forum for Harmonic wave.
Do you still trade these patterns(30 pips a days!). If Yes, how your learning curve since 2009(Since this forum started). Iā€™m sure there will be lot of learnings in this period.

I am trading 3 years by now. But new to Harmonic wave. Just completed the baby pips Harmonic waves. Can you please share your insight on this like Which time frame to use, any specific pairs to trade this setups, any changes you made in terms of RiskReward. Also I have noticed in first few pages you have shared a youtube video for how to trade this pattern. Is there any other updated versions.

Sorry for many questions. Actually I need to go through your forum completely to digest things. but there are 1058 pages. If you guide us through paticular pages or materials will definetly be a great help.

Thanks a lot for such a wonderful and vrey insightful forum.


Thoughts?

Its Friday already , wait until Monday and then decided.

Looks like this method of trading is unprofitable

Hi All,

I am totally new to Forex trading, but I have completed the school here and I am seeing the following pattern. I know today is Saturday and on Monday the price can start from a totally different point. Still I just want to know if I have drawn the pattern correctly.


Seems the above pattern is invalidā€¦ lets seeā€¦ cannot give up hopesā€¦ :smiley:

Once you learn a system that shows you results. Work on having full emotional control of your self and stay disciplined. Trust the analysis that you make of the markets before placing entry orders or entering market orders and never go against it. Accept every loss that is given and use proper risk management on every single trade. Never depend on anything outside of the system such as luck, wishful thinking or faith to determine the results of the trade. Sleep 8-10 hours a day, eat healthy, and keep your self physically fit. This is what I have learned in the past 8 years.

For those of you that believe in faithā€¦ use it for your discipline and you will see results.

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Great advice TMoneyBags , i just came back from the gym after 2 1/2 hrs work out and i feel great ,ready for what life throws at me. hehe

You must be a lot younger or fitter than me. If I come back from the gym after a 2 1/2 hour workout, the only thing Iā€™m ready for is bed!

I keep getting surprised on how pro traders put alot of emphasis not only on their trading but also take their surroundings and other activities into account since it affects the trading in one way or another. I am sure the exercise helps alot but from what I see it is vital!
I guess the average pro trader doesā€™nt look like my avatar lol ā€¦

eddieb i am one of the oldest people here , however one must keep a sound mine and body in order to have a good balance at work. Oā€™h i like your avatar :smiley:

Im close to 50 and still in shape , This is my favorite gym in Ukraine
The boxing bag you see in the backside is hard like concrete ā€¦
Hold place stopping up when my 125 kg start to work with the bag ā€¦
Try 3 min x 10 you are complete dead ,then is nothing better to take banya (sauna ).
My wife is still angry I bring 3 girls to the bany and giving them full ā€œtreatment ā€œ
treatment mean massage venik massage honey and sall and beer massage and cold pool jumping ā€¦
and tea between the battles ā€¦

After one big beer and home to wife