Harmonic Trading...

[SAS]

Harmonic trading is actually very simple when you have a good indicator that combines not only the automated plotting/drawing of harmonic patterns but also the use of customized indicators (customized from the basic pivot points, bollinger bands, MA etc.) to give you an edge in harmonic trading.

I think the main problem with currently available harmonic indicators is that they do not have double/triple checks that are effective enough to give you a stronger edge (reduce false positives, give you a more specific zone of entry). Because of this most beginner harmonic traders may lose money as they enter after the pattern emerges, but before an even stronger entry is signalled! If any of you are interested to know more about the indicator that I'm currently using do PM me, I'll gladly share more about the system I use.

I am pm'ing you now, i would luv to hear more.

I was searching for the success rate of Harmonic indicators and ran across this blog here:

http://fx-trading-currency.blogspot....tern-crab.html

Awesome to see the results of the patterns.

[Republic]

Hi Ricky, glad to hear of your interest.

PM me and I'll answer any specific questions you have!

[Virgin]

I'd like to know a bit more too.

[FxTooth]

Hi Ricky, glad to hear of your interest.

PM me and I'll answer any specific questions you have!

Well what more could it include to be honest, some sort of different approach or something?

[FxTooth]

Can these harmonic pattern confluences appear on multiple time frames?

[Harrison]

Harmonic trading is actually very simple when you have a good indicator that combines not only the automated plotting/drawing of harmonic patterns but also the use of customized indicators (customized from the basic pivot points, bollinger bands, MA etc.) to give you an edge in harmonic trading.

I think the main problem with currently available harmonic indicators is that they do not have double/triple checks that are effective enough to give you a stronger edge (reduce false positives, give you a more specific zone of entry). Because of this most beginner harmonic traders may lose money as they enter after the pattern emerges, but before an even stronger entry is signalled! If any of you are interested to know more about the indicator that I'm currently using do PM me, I'll gladly share more about the system I use.

The problem I have had with Harmonic Patterns is that they will appear and I trade but then they disappear or continue to the next bar as price moves up or down with the same trend. So began to wait for the pattern to "finish" but then it was too late and the move already happened. It's like damned if you do damned if you don't...

But if you have a better way to approach this craziness, it does work in my opinion just you need to be lucky or have some better way id love to hear it.

[SAS]

Why does no one discuss K-Harmonics (korharmonics) or the Zup Harmonic indicator here?

Korharmonics covers a lot of different harmonic patterns.

[Republic]

Glad to hear of your interest.

When I first used the standard harmonic indicators out there (like those you mentioned), I ran into the same frustrations as you guys. After a period of testing and coding, I've managed to filter out most of these patterns up to a far higher level of accuracy. I'd say 90% according to my tests, but I can guarantee you above 80% for your money's worth.

One very noticeable difference is that the stop-loss is far shorter (those using ZUP will notice a huge box appearing telling you when to buy, ours is far tighter), hence there is a lower chance for you to wipe out if the pattern fails. Also, our patterns do not repaint. You will be able to see the patterns on your chart historically when they are completed so that you can review for your own research purposes. Finally, when a pattern appears and fails, there will be a close to 100% chance of it re-appearing so that you can enter at an even better price. Those who've used other harmonic indicators before should know what this means: even if your stop-loss is triggered on a failed pattern (recall that our stop-loss is very tight), you have a chance to re-enter at a bigger position. So in the long run your risk-reward ratio will be higher, reducing your volatility and hence increasing your earnings over time.

This indicator will definitely give you an edge, but to really earn money I will not kid you; it's still all about money management, discipline and psychology

[Johnston]

Glad to hear of your interest.

When I first used the standard harmonic indicators out there (like those you mentioned), I ran into the same frustrations as you guys. After a period of testing and coding, I've managed to filter out most of these patterns up to a far higher level of accuracy. I'd say 90% according to my tests, but I can guarantee you above 80% for your money's worth.

One very noticeable difference is that the stop-loss is far shorter (those using ZUP will notice a huge box appearing telling you when to buy, ours is far tighter), hence there is a lower chance for you to wipe out if the pattern fails. Also, our patterns do not repaint. You will be able to see the patterns on your chart historically when they are completed so that you can review for your own research purposes. Finally, when a pattern appears and fails, there will be a close to 100% chance of it re-appearing so that you can enter at an even better price. Those who've used other harmonic indicators before should know what this means: even if your stop-loss is triggered on a failed pattern (recall that our stop-loss is very tight), you have a chance to re-enter at a bigger position. So in the long run your risk-reward ratio will be higher, reducing your volatility and hence increasing your earnings over time.

This indicator will definitely give you an edge, but to really earn money I will not kid you; it's still all about money management, discipline and psychology

So you've programmed your own indicator that works better? Id be glad to buy itt

[TopTrader]

Glad to hear of your interest.

When I first used the standard harmonic indicators out there (like those you mentioned), I ran into the same frustrations as you guys. After a period of testing and coding, I've managed to filter out most of these patterns up to a far higher level of accuracy. I'd say 90% according to my tests, but I can guarantee you above 80% for your money's worth.

One very noticeable difference is that the stop-loss is far shorter (those using ZUP will notice a huge box appearing telling you when to buy, ours is far tighter), hence there is a lower chance for you to wipe out if the pattern fails. Also, our patterns do not repaint. You will be able to see the patterns on your chart historically when they are completed so that you can review for your own research purposes. Finally, when a pattern appears and fails, there will be a close to 100% chance of it re-appearing so that you can enter at an even better price. Those who've used other harmonic indicators before should know what this means: even if your stop-loss is triggered on a failed pattern (recall that our stop-loss is very tight), you have a chance to re-enter at a bigger position. So in the long run your risk-reward ratio will be higher, reducing your volatility and hence increasing your earnings over time.

This indicator will definitely give you an edge, but to really earn money I will not kid you; it's still all about money management, discipline and psychology

I am in agreement, there is no magic indicator that will find these patterns and give you 90-100% winning trades.

[sir_charles]

Glad to hear of your interest.

When I first used the standard harmonic indicators out there (like those you mentioned), I ran into the same frustrations as you guys. After a period of testing and coding, I've managed to filter out most of these patterns up to a far higher level of accuracy. I'd say 90% according to my tests, but I can guarantee you above 80% for your money's worth.

One very noticeable difference is that the stop-loss is far shorter (those using ZUP will notice a huge box appearing telling you when to buy, ours is far tighter), hence there is a lower chance for you to wipe out if the pattern fails. Also, our patterns do not repaint. You will be able to see the patterns on your chart historically when they are completed so that you can review for your own research purposes. Finally, when a pattern appears and fails, there will be a close to 100% chance of it re-appearing so that you can enter at an even better price. Those who've used other harmonic indicators before should know what this means: even if your stop-loss is triggered on a failed pattern (recall that our stop-loss is very tight), you have a chance to re-enter at a bigger position. So in the long run your risk-reward ratio will be higher, reducing your volatility and hence increasing your earnings over time.

This indicator will definitely give you an edge, but to really earn money I will not kid you; it's still all about money management, discipline and psychology

I almost bought software for $1500... do you have a less expensive way of doing this?

[Pvaulter]

http://myfxbook.com/members/darkmach...machine/279580

Discuss

[sir_charles]

http://myfxbook.com/members/darkmach...machine/279580

Discuss

does he use harmonics to trade that way?

[Mike]

A while back I had worked with someone to create a Harmonic EA but it never was completed. Just recently I have had the urge to go automated with all my strategies and revisited trying to make it work.

It follows closely the rules for the Harmonic Patterns 2 indicator which identifies the patterns calculates the entry level based on the percentage of the last leg, enters the trade when that level is reached and subsequently calculates the stop loss and take profit levels based on that last leg as well. But all of those properties, the percentages and everything are set by the user, so you can control the take profit levels, stop loss levels, even the level at which we enter when price starts moving away from point D.



Right now the only thing wrong with it is, it will open a trade and the stop loss and take profit levels disappear for some reason, so when you backtest it, some (not all) orders just stay open for months and months, and when the test is over you'll see a dozen huge gains and losses which should have been closed for modest gains and losses - so it's impossible to tell how well it worked. It's an awesome bot except for that and I would be glad to throw it up on Zulu. This is kind of holding me back as I try to test the best settings for many of the options when it comes to how exactly it finds patterns. So whenever this problem of the trades remaining open gets fixed, I can actually sit down and test all of the possible settings and finally decide upon the best set.

I'm testing it on a demo account as we speak on 6 different pairs, and over the last week the results are not too bad. But I can't let this go on a live account until I get the problem fixed.

[IIO]

A while back I had worked with someone to create a Harmonic EA but it never was completed. Just recently I have had the urge to go automated with all my strategies and revisited trying to make it work.

It follows closely the rules for the Harmonic Patterns 2 indicator which identifies the patterns calculates the entry level based on the percentage of the last leg, enters the trade when that level is reached and subsequently calculates the stop loss and take profit levels based on that last leg as well. But all of those properties, the percentages and everything are set by the user, so you can control the take profit levels, stop loss levels, even the level at which we enter when price starts moving away from point D.



Right now the only thing wrong with it is, it will open a trade and the stop loss and take profit levels disappear for some reason, so when you backtest it, some (not all) orders just stay open for months and months, and when the test is over you'll see a dozen huge gains and losses which should have been closed for modest gains and losses - so it's impossible to tell how well it worked. It's an awesome bot except for that and I would be glad to throw it up on Zulu. This is kind of holding me back as I try to test the best settings for many of the options when it comes to how exactly it finds patterns. So whenever this problem of the trades remaining open gets fixed, I can actually sit down and test all of the possible settings and finally decide upon the best set.

I'm testing it on a demo account as we speak on 6 different pairs, and over the last week the results are not too bad. But I can't let this go on a live account until I get the problem fixed.

I'll be your first beta tester

[LuckTrader]

I'm testing it on a demo account as we speak on 6 different pairs, and over the last week the results are not too bad. But I can't let this go on a live account until I get the problem fixed.

That's good and well but we can't determine how effective it is by one weeks worth of tests... keep us informed big man.

[Stephan noel]

harmonic trade is such a tool which is being used mostly. but to make use of it you should have to understand it carefully. it may be complicated one for you.










EURO Currency News

[ph19golf]

Sniper, Harmonic trading is the way to go. However, if you trade that way you have to develop a clear set of rules for consistency. For instence do you want to trade based on structure, Fibs, patterns, etc. I have a 80% success rate and usually trade a 2 to 1 or more risk win ratio. Would love to talk to you more about it if you are interested. Happy Trading.

[tab]

Sniper, Harmonic trading is the way to go. However, if you trade that way you have to develop a clear set of rules for consistency. For instence do you want to trade based on structure, Fibs, patterns, etc. I have a 80% success rate and usually trade a 2 to 1 or more risk win ratio. Would love to talk to you more about it if you are interested. Happy Trading.

Don't you just trade these after the pattern is made like a red or green crab or something and you go long or short? What else is there in your process?

[sniper012]

I have found that for me, it's better to wait for some type of price action signal to occur after completion of the harmonic pattern. Sure it would be great to get in as soon as the reversal starts, but you can still pick up plenty of pips if you wait for the candlesticks to also show you signs of a reversal.

The problem I have had with Harmonic Patterns is that they will appear and I trade but then they disappear or continue to the next bar as price moves up or down with the same trend. So began to wait for the pattern to "finish" but then it was too late and the move already happened. It's like damned if you do damned if you don't...

But if you have a better way to approach this craziness, it does work in my opinion just you need to be lucky or have some better way id love to hear it.