I also have that book and just started it. It will be interesting to hear from others who are reading it also.
After a lot of years of research, I am convinced that price action patterns
are the way to go.
ABC and AB patterns are endemic to the market. The current volatility
may change, which affects risk/reward, but the patterns will always be
there.
I take most trading books with my own grain of salt.
I’ve written 4 or 5 articles for Technical Analysis of Stocks and
Commodities magazine, and I’ve authored 2 books on price pattern trading,
and I can tell you that authors never divulge their best stuff.
Ultimately, you really have to get in there and do the work
yourself. Study price action in detail, and try to think of
new ways of approaching the problem.
I did say to ignore such things as Fibonacci retracements because
everyone knows about them. However, this does not preclude using
basic Fibonacci concepts in coming up with your own patterns.
The price action pattern I trade is very successful. I grew curious
as to why it was so effective. After some research I found that
this particular action coincided with a “cluster” of various
Fibonacci aspects, cycles, Astrological aspects,
Overbought/Oversold indicators, choas theory, and the
squaring of time and price.
Thinking about this, one approach you might follow is to study price
action that coincides with a lot of market indicators and events.
Of course, the trick is to discern something about this action that
isn’t obvious.
Cool…what chapter you on? I’m on chapter 3 …the ABC corrective pattern part. I really agree with Miner about most system authors giving so many “after the fact” examples of how their method identified great trades. But as we well know, that’s too late and we really need to identify them in the early stages…before they happen!
What I think would be helpful, but maybe we’d want to take this part to a new thread, is to post up charts of these ABC patterns to help train our eyes in identifying them as they are forming.
Walt, does knowing whether a market is in a trend or correction factor in with your trading?
SweetPip I haven’t read much of it yet. just got it. probably this weekend I’ll have time to read a few chapters. Only thing about waves is it that makes me think of Elliot waves and that seems kind of ambiguous to me. Kind of like Nostradamus quatrains, you see what you want to see. It will be an interesting read though. Start a thread if you want and I’ll join in.
Astrological eh? hmmm… I dabble in theoretical physics as a hobby and as someone who can calculate the size and structure of the universe the idea of introducing astrology into forex seems pretty ridiculous. The op may have gotten rich in forex but not by casting astrological charts. may as well read tea leaves or yak entrails.
…imho
oh… roughly 13.7giga parsecs by the way… now if we divide that by the average gbp/usd price…
I’m just comparing your ABC Swing description with Miner’s description. So for say an UP ABC swing, you’ve got the C upswing with a high greater than the high of the B swing so that would also be the A upswing high? (because I think of B as a low…lol). Here’s an Up ABC swing illustration…is this what you mean? 
Yes you are correct about there being an elliott wave factor in it…lol. However, before judging it on that, it’s not quite as complex. Just the ABC (corrective) pattern which I agree are very “endemic” to the market, and the 12345 (trend) pattern. Miner does agree that e-wavers can make it way too complicated and there are something like 13 patterns to analyze, but Miner is going to spare us that and just give us a couple and a guideline for identifying them. Should be a snap eh! 
I haven’t skipped far enough ahead tho yet to find out if Miners’ strategy trades them the way Walt has described, so if it’s different, then I’ll start a new thread…if it’s the same, then BONUS!..
i think you find that the majority (few exceptions) of the so-called 'fx-men’
on this forum are anal rententive and spend far too much time ‘looking out’ for newbies - when in reality these ‘men’ couldnt trade there way out of a wet paper bag and as such feel threatened by a trader who has reached an elite level - whereas there still trading minilots and trying to preach there ridiculous ways to the naive.
I cant believe the admin lets them get away with such vitrioul all the time.
Doesn’t this book come with a CD? I got mine second hand with no CD. It’s just extra I guess, the book should have all the information in it.
Apparently it does…but mine’s an e-book :o…lol…oh well
Hey my Sweet Lady! LOL
You start participating in a very interesting discussion about the book I indicated you, and you… Don’t tell me anything???
Well, jokes apart: I think there is some interesting stuff here, and hope that very protective “Masters” will let us go a bit deeper with ABC’s.
You (Sweet) already know my point here: these patterns look wonderful… in the past. When they are forming on the right side of the screen, I start getting doubts…
But this is me, and my problem. So: very glad to go on learning with you all!
Great!
Sorry Fabio!..:o…this all just came up. I’m still not sure if this compliments Miners book or not, and I wasn’t sure Walt would want to continue with all the razzin he got in order to find out…lol. (I’ll be emailing you back soon anyways…just saw yours)
Mine too
ain’t google wonderful!
I, nor anyone else, questioned his trading method. I questioned his math, which by Walt’s own admission, didn’t add up.
He says he meant to say months and not weeks on his first post, but you can’t blame me for pointing out that what he was originally saying was impossible.
This site is called Babypips.com, and the tagline at the top of the page reads “The Beginners Guide to Forex Trading.” Looking out for and helping new traders avoid the pitfalls of trading is the point of this website. If you want a website where traders are assumed to be more advanced, then this is not the place.
blah blah blah his post wasnt on newbie island, and i think you will find some very experienced and sometimes institutional traders have passed on their wisdom in the holy grails section and other sections of the forum - who are you to pass judgement…and i think your way off with your ‘point’ of the forum…i am suprised the admin hasnt actor sooner with you guys earlier, it isnt up to you and your phonies to protect people with your sarcasm and cyncism- people are capable of learning there own lessons.
[QUOTE=d-pip;143139
I don’t think your [B]“OVER PROTECTIVE WAYS” [/B]is really serving the babypips community, and maybe the cause of too many [B]“Threads gone bad”. [/B]
[B]thanks![/B][/QUOTE]
i think this the very point these ‘men’ should pay attention to and the administration of the forum be having words with them - this sort of thing happens to often here with new people willing to try new ways, but subsequently threads are destroyed because of these antagonists
First you said this…
Then you said this…
I, nor anyone else, questioned his trading method. I questioned his math, which by Walt’s own admission, didn’t add up.
No you didn’t question his methods cause apparently you got it all figured out. However, your statements don’t add up…Why don’t you just quit now…ok?..please!
How the heck R Carter got thru your scrutiny unscathed is beyond me…
I am not “threatened by a trader who has reached an elite level.” I am, however, concerned about a trader who claims to have reached an elite level when the description of their trading is mathmatically impossible.
I welcome all elite traders who wish to help newbies to this forum, I just don’t think claiming traders can double their money every week is helping anyone. In reality it’s harmful because it encourages new trader to develop bad behaviors.
It’s all beside the point anyway, since Walt acknowledged it was a mistake on his original post.
If you don’t believe I can trade my way out of a wet paper bag that’s ok with me. You’re welcome to start your own threads and teach your trading methods, and you’re welcome to criticize mine. If you believe my trading methods are bad, then it would be much more beneficial to everyone to state why.
Feel free to post your criticisms in any of my threads. I won’t attack or flame you, I’ll just post my evidence to show why I disagree with you, or agree that your right, whichever the situation warrants.
Every method I trade has a thread devoted to it here on Babypips, they aren’t hard to find.
If I may jump in before this thread goes any further south…
It’s a forum. Let the man speak, and if he wants to keep bigging himself up on past successes let him brag. As much as a senior forum member may help guide a newbie, it can only be through advice and that ‘newbie’ still makes the decision. Advice is good but after that, if one still wants to take the fall then it may be better for them to learn through experience.
The thread was opened as a discussion of unique patterns I think, not the typical crossovers and MAs and such. It’s interesting, it’s new. Instead of taking the thread to a personal level which can be dealt with internally, let the post grow on the subject at hand, for the benefit of all the other ‘newbies’ looking for a little advancement.
I don’t mean to talk bad or impose on anyone, I’m new here too not even 2 months. I’m dedicated to learning but threads that go like this lose their essence quite useful information is clouded.
Just my two cents.
P.S, I’d love to learn more about ABC patterns. I’ll check out the reading you’ve mentioned above however is there anywhere else I may find more information and learning on it?
Thanks!
I won’t clog up this thread anymore after this post, but if you believe I’m doing something wrong please report me to the administrators.
If they ask me to stop posting negative opinions I’ll do so.
Agreed. Walt corrected his error, and his original post makes a lot more sense now. I still disagree with it, but that’s allowed.
You guys continue discussing ABC patterns.