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  • #1,177,481
  • Aug 5, 2020 5:41pm Aug 5, 2020 5:41pm
You all are funny. A whole drama broke out because I just said “bring the guy on board.”
The more smarter people we have, the smarter the thread becomes. I feel like we could avoid this whole situation in a good way But we escalated this whole thing like bunch of drama girls. .
all fun and game. Lets not down grade anyone’s strategy. Perhaps he is expert in reading his bat butterfly harmonic strategy. Just like me reading my Bollinger band differently from some here. And how We read macd is different from others on here. At the end of the day, the market is like a davinci puzzle that we must work together to solve it and grab them pips. Like Suthmo (ima repeat again) showing me a good buy at 1.1855.
Trade what you see, take what the market gives you.
  • #1,177,482
  • Aug 5, 2020 5:43pm Aug 5, 2020 5:43pm
Quoting mistaouting
{quote} you guys are funny.... what do you mean "Won't you agree that harmonic patterns aren't some magic?" You would have to define magic. I agree they are not magic lol. Because harmonic patterns work just as well as Fibonacci applications. Which I think they are based on Fib sequences....which I guess some may call that magic for lack of a better understanding. What they call those patterns shouldn't infer its some pseudoscience with names like butterfly and batman and so on.... I mean people come up crazy names for a reason...same...

I know what they are, by magic I mean it's not something that works without the support of many other factors. And these other factors play a major role in the first place, just like the 'vacation' trade that's being discussed here was based off US not able to handle the covid situation rather than a harmonic pattern that popped up.. if the situation was worse for EU and not for US, the pattern or fib levels may have given some pips but not a 5 months bulls run. And I agree with Tech here that if something is working for you well enough, no need to change it or make it complicated. There are tons of ways to trade successfully, doesn't mean all should be used.. it just makes things confusing & conflicting. I am not saying they don't work, but so does the W formation of waves forming on every time frame.
Seek, because knowledge is a boundary.. but ignorance is boundless- SJV
  • #1,177,483
  • Aug 5, 2020 5:49pm Aug 5, 2020 5:49pm
Quoting VuLe
You all are funny. A whole drama broke out because I just said “bring the guy on board.” The more smarter people we have, the smarter the thread becomes. I feel like we could avoid this whole situation in a good way But we escalated this whole thing like bunch of drama girls. . all fun and game. Lets not down grade anyone’s strategy. Perhaps he is expert in reading his bat butterfly harmonic strategy. Just like me reading my Bollinger band differently from some here. And how We read macd is different...

Agreed, if dude's a harmonic trader then definitely he knows his eggs and baskets. I was simply stating that advising to keep things simple if they are working out doesn't mean hating on a specific person who does something else and makes it work.
Seek, because knowledge is a boundary.. but ignorance is boundless- SJV
  • #1,177,484
  • Aug 5, 2020 5:53pm Aug 5, 2020 5:53pm
Quoting VuLe
Shout out to Suthmo post that I added another buy at 1.1855 !!!
Lets Ride another dip to 1857 will complete a reverse symmetrical triangle.

I got stung by a wasp right on top of my thumb hand and wrist swollen like a balloon, plasma leaking out the top of my thumb it's looking grizzly.
Attached Image (click to enlarge)
Click to Enlarge Name: Eurusd8.5.20.2352M1.png Size: 21 KB
Founder of Sutherland Wave Principle
  • #1,177,485
  • Aug 5, 2020 5:57pm Aug 5, 2020 5:57pm
Quoting OBsayMkMoney
{quote} .... I hear this all the time. I will repeat... It seems to be working for him. So.. why do you feel the need to knock it?
Was I knocking it? Go back and read again. You apparently have a problem.
Learn from your mistakes and march on.
  • #1,177,486
  • Aug 5, 2020 6:04pm Aug 5, 2020 6:04pm
Quoting leashedmode
{quote} I know what they are, by magic I mean it's not something that works without the support of many other factors. And these other factors play a major role in the first place, just like the 'vacation' trade that's being discussed here was based off US not able to handle the covid situation rather than a harmonic pattern that popped up.. if the situation was worse for EU and not for US, the pattern or fib levels may have given some pips but not a 5 months bulls run. And I agree with Tech here that if something is working for you well enough,...
I can't speak on what that person used to make that call....need to the verify but it seems as though harmonic patterns are their thing.

I THINK VERY FEW THOUGHT EURO WAS GOING TO DO WHAT ITS DOING WHEN HE CALLED THAT LEVEL...

In fact...we all here think we are the best and real traders....BUT I KNOW BIG FIRMS were calling for parity on the euro around the time of the outbreak...

He would have thought the virus was going to run ramped through out the US and Fix Europe's troubling economy....seriously

I agree with you guys on using what works...but I also think you should be open to leaning and improving; not downing others methods. I mean the guy cleaned out the bank lol
LOCK IN RE-ENTER
  • #1,177,487
  • Aug 5, 2020 6:27pm Aug 5, 2020 6:27pm
Don't know if I would be buying right now.... (however I am still long term bullish on euro)

IMO perfect setup right now is....

Is to sell within current price and 1890; SL and new "buy" order at yesterdays high...TP on the short around 1720 (consider letting it run with price action near that level, or just take some profit and add shorts if price breaks that support) not clear yet on the long TP....

I haven't gave a call in a while; usually just my bias on the trend. Will probably put small sell order at 1898 with 11pip SL. RUSTY ON CALLS GOT USE TO EASY TRADING RIDING THE BULL just buying it and forgetting lol
LOCK IN RE-ENTER
  • #1,177,488
  • Aug 5, 2020 6:47pm Aug 5, 2020 6:47pm
Quoting suthmo
{quote} Lets Ride another dip to 1857 will complete a reverse symmetrical triangle. I got stung by a wasp right on top of my thumb hand and wrist swollen like a balloon, plasma leaking out the top of my thumb it's looking grizzly. {image}
No! No! Im not riding it. Lets just take off... but if we going dip then Im just going to load. Fineeee have it your way.
Trade what you see, take what the market gives you.
  • #1,177,489
  • Aug 5, 2020 7:13pm Aug 5, 2020 7:13pm
Chart patterns such as gartley, crab, bat, flag, head and shoulders etc.. are formed by price action. It is the result of the behavior of the market. It is history or foot prints left behind by price action. It will never gives us a guarantee. Sometimes it works, sometimes it don't. Same as all technicals tools and indicators. Although it never gives a guarantee, but no one can deny the fact that it happens over and over again. So, it is best to understand well the market and its behavior. Market is driven by human behavior. And human behavior is never consistent. though it never consistent, it tends to repeat itself(patterns). As the word saying, "the only consistent is, its inconsistency".

It all boils down to, sometimes it works, sometimes it don't. Same as all traders, sometimes we win, sometimes we lose. Nothing in this trading world can give consistent results. Market is the King. He himself, is inconsistent.

My 2 cents..... cheers!
Only an idiot knows with certainty to where the market is going.
  • #1,177,490
  • Aug 5, 2020 7:18pm Aug 5, 2020 7:18pm
Quoting MrBullBear
Chart patterns such as gartley, crab, bat, flag, head and shoulders etc.. are formed by price action. It is the result of the behavior of the market. It is history or foot prints left behind by price action. It will never gives us a guarantee. Sometimes it works, sometimes it don't. Same as all technicals tools and indicators. Although it never gives a guarantee, but no one can deny the fact that it happens over and over again. So, it is best to understand well the market and its behavior. Market is driven by human behavior. And human behavior is...
love it. Best break down. No strategy is 100% guaranteed. All Probability + your smart trading + your greed + your emotion = your result.
Trade what you see, take what the market gives you.
  • #1,177,491
  • Aug 5, 2020 7:20pm Aug 5, 2020 7:20pm
Quoting mistaouting
{quote} seem to have to got personal
Right? Quickly too!!
Don't compare your trades to others. Most often the masses are the asses
  • #1,177,492
  • Aug 5, 2020 7:26pm Aug 5, 2020 7:26pm
Quoting leashedmode
{quote} Take it easy bro, we all here to have healthy conversations about what we do daily that's it isn't it? I don't think anyone was downplaying anyone in fact he was just advising another trader not to complicate things with patterns but simply sticking to his thing because it seems to be working out well. Won't you agree that harmonic patterns aren't some magic? We literally see them everywhere on a chart, on literally every time frame.. what counts is price action, demand supply and of course major events that drive the prices as well as the...
I was speaking to someone specific, and I NEVER said that ANYONE's system was infallible. I never even said that I used it. I mentioned someone's name. His method was IMMEDIATELY attacked. I then mentioned that it appeared to work for him. I hear this about countless systems. That work for THAT person. Because they don't work for all, people immediately throw it away as rubbish. Everyone needs to just maintain their lane. Let others make their money the way that works for them. So yeah... Blah blah blah.. and bleh to you who pick others apart.
Don't compare your trades to others. Most often the masses are the asses
  • #1,177,493
  • Aug 5, 2020 7:31pm Aug 5, 2020 7:31pm
Quoting here2there
{quote} Was I knocking it? Go back and read again. You apparently have a problem.
I apologize. Must be a language barrier issue. In my experience when someone says "Such patterns don't make you money.", I consider it knocking.



Well.. I apologize all. Didn't mean to disrupt your forum. It occurred to me that I hadn't seen any of his posts, so I followed a link. Good trading to all.
Don't compare your trades to others. Most often the masses are the asses
  • #1,177,494
  • Edited 10:08pm Aug 5, 2020 7:45pm | Edited 10:08pm
Quoting MrBullBear
Chart patterns such as gartley, crab, bat, flag, head and shoulders etc.. are formed by price action. It is the result of the behavior of the market. It is history or foot prints left behind by price action. It will never gives us a guarantee. Sometimes it works, sometimes it don't. Same as all technical tools and indicators. Although it never gives a guarantee, but no one can deny the fact that it happens over and over again. So, it is best to understand well the market and its behavior. Market is driven by human behavior. And human behavior is...
Have no doubt that the full map of these patterns is not only possible but is coming soon. I can map them out but it's gonna have to wait, I have a 10 yr backlog of research to catalog.

This is the start of the garley mapping inspired by your post and at the top level it will look something like the following image and become more complex as we zoom it down into lower time frames.
Attached Image (click to enlarge)
Click to Enlarge Name: GartleyMap.png Size: 12 KB
Founder of Sutherland Wave Principle
  • #1,177,495
  • Aug 5, 2020 7:48pm Aug 5, 2020 7:48pm
Quoting NuNix
{quote} Good place to close sell. I re-enter long position target 1.2269. {image}
Seems like want to attack the sellers stoploss around 1.1909
Attached Image (click to enlarge)
Click to Enlarge Name: Capture.PNG Size: 19 KB
Dangdut is a music of my country
  • #1,177,496
  • Aug 5, 2020 7:49pm Aug 5, 2020 7:49pm
Quoting OBsayMkMoney
{quote} I was speaking to someone specific, and I NEVER said that ANYONE's system was infallible. I never even said that I used it. I mentioned someone's name. His method was IMMEDIATELY attacked. I then mentioned that it appeared to work for him. I hear this about countless systems. That work for THAT person. Because they don't work for all, people immediately throw it away as rubbish. Everyone needs to just maintain their lane. Let others make their money the way that works for them. So yeah... Blah blah blah.. and bleh to you who pick others...
Good comment. Trading over 12 years now has taught me that everyone has their own style and trading method. I've met many other traders that use very weird trading methods but they make money because they know how it works and their perception of the market is unique to them. That's why it can be very difficult for one trader to grasp another traders trading style. It may not register with their own beliefs, personality or perceptions. Every trader has their strengths and their weaknesses.

I like to perceive the market like a war zone. All those indicators, trend lines, patterns etc. are all weapons. You choose what weapon(s) you know how to use over time and ultimately you master them. You give a soldier a knife and he tries running out in the field stabbing everyone while bullets and grenades are flying everywhere, he's going to get killed. Is it his fault he got killed? or is it the knife?. From an outsider, they would say "You see, Knives dont work its a terrible tool for battle." But give it to someone else who knows how to be extremely stealthy and covert, you wont even see him coming.

I've heard it all...

 

  1. "Divergences don't work, its trash" but yet someone out there is making a killing with it.
  2. "Trend lines, are terrible to use" but yet someone out there is making a killing with it
  3. "Pivot Points, are garbage" but someone knows how to use that tool like a master.
  4. "Chart Patterns are garbage and dont work anymore" but someone out there is making a fortune with it.
  5. "Technical Analysis is a joke" Yet many traders do VERY well with TA. (Fundamentalists hate this lol)....

The list goes on and on

There are some universal trading principles that every trader needs to master and that mostly has to do with emotional and psychological self control.

"The market doesn't beat them, they beat themselves" - J. Livermore
  • #1,177,497
  • Aug 5, 2020 8:16pm Aug 5, 2020 8:16pm
Quoting OBsayMkMoney
{quote} I apologize. Must be a language barrier issue. In my experience when someone says "Such patterns don't make you money."
What I meant is the pattern itself doesn't make you money. It's how you use it that determines the outcome. If you only trade with the trend (from a higher timeframe), then the pattern could be useful. But if you use it as a signal to trade against the trend, it's more likely not to produce a good result.
Learn from your mistakes and march on.
  • #1,177,498
  • Aug 5, 2020 8:52pm Aug 5, 2020 8:52pm
Buying EU at 1.1872 now
PaRaM
  • #1,177,499
  • Aug 5, 2020 8:55pm Aug 5, 2020 8:55pm
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDM5.png Size: 41 KB
  • #1,177,500
  • Aug 5, 2020 9:07pm Aug 5, 2020 9:07pm
Quoting NYWallSt
{quote} Good comment. Trading over 12 years now has taught me that everyone has their own style and trading method. I've met many other traders that use very weird trading methods but they make money because they know how it works and their perception of the market is unique to them. That's why it can be very difficult for one trader to grasp another traders trading style. It may not register with their own beliefs, personality or perceptions. Every trader has their strengths and their weaknesses. I like to perceive the market like a war zone. All...

Good Ol' New York common sense. Thanks.
Don't compare your trades to others. Most often the masses are the asses
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