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Andrews Pitchfork (Median Line)

  • #3,561
  • Dec 31, 2010 9:41pm Dec 31, 2010 9:41pm
Quoting taq
Wish every body a very happy and prosperous NEW YEAR.

Regards,
TAQ
Thank you Taq. Same to you.

FX4Newbies
Trade what you see, not what you think or feel. Let the market come to you.
  • #3,562
  • Dec 31, 2010 9:53pm Dec 31, 2010 9:53pm
This is the best forex thread ever. I am just very happy! Let's keep this spirit here for 2011. I am getting hooked to the fork and harmonic trading and getting a new found comprehension of market geometry every day thanks to all of you dear member of this thread. Here's a last gem for to end the year. Bearish gartley pattern double with Bearish butterfly pattern on eurusd. and as WaveTrade said, probable wave 5 down. I will try to validate Elliot wave count during week-end.
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Harmonics and Pitchfork using korHarmonics from TradingArsenal
  • #3,563
  • Edited Jan 1, 2011 5:35am Dec 31, 2010 10:27pm | Edited Jan 1, 2011 5:35am
Quoting GreatYves
This is the best forex thread ever. I am just very happy! Let's keep this spirit here for 2011. I am getting hooked to the fork and harmonic trading and getting a new found comprehension of market geometry every day thanks to all of you dear member of this thread. Here's a last gem for to end the year. Bearish gartley pattern double with Bearish butterfly pattern on eurusd. and as WaveTrade said, probable wave 5 down. I will try to validate Elliot wave count during week-end.
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Wave Trader is very good with his wave counts and the fork. He also adds Gartleys/Harmonics...good stuff to blend into a trading recipe. Works well for him.

FX4Newbies
Trade what you see, not what you think or feel. Let the market come to you.
  • #3,564
  • Jan 1, 2011 9:24am Jan 1, 2011 9:24am
Quoting big_pipin
Looks like im just going to have to bite the bullet and buy that fork trading course from that old man. I don't want to pay the 500 dollars or whatever it is because that means im going to need to sell some stocks that are doing well, but if it helps, which I hope it does then the price is a small cost.

Forks apparently arnt as easy as they are advertised to be, but I don't mind he challange.

Honestly, after three years of trading I thought id be full time by now. That was several years ago.
Everybodies path is different and I am 5 years older than Tim.

I was a premium member at Tim's site for one month and I read everything
he wrote on Money Show - Median Line and Market Geometry and I was there every Monday for the free session, until he stopped.

Tim says that everything he teaches is on the web sites for free, if you look for it. I know this to be true but it takes work. It is one thing to
know the teachings - it is another to understand and be able to practice it.

Tim says forks are 80% science and 20% art. It has been a year since that premium session and just now am I comfortable with the process.

Market Structure - Context - Frequency

Happy Trading
  • #3,565
  • Jan 1, 2011 9:47am Jan 1, 2011 9:47am
IMO there are far better and less expensive sites than Morge around ...

I believe we are not allowed to mention sites on this forum but a bit of googling should yield results...

Happy New Year

beeb
  • #3,566
  • Jan 1, 2011 12:04pm Jan 1, 2011 12:04pm
FX 4 is absolutely correct - Psychology is the most important element

I can not count how many times, in the past, I entered a trade on the platform then - 2nd thoughts - I cancelled the trade - and you know what happen - "to the pip" - it hit my entry and went hell bent for a take profit order.

I can not count how many times, in the past, I have exited a profitable trade to soon.

I say in the past because now - I CAN NOT TRADE IF I DO NOT FOLLOW MY RULES. The rules have to be abosolute.

NQ00S says - master your set up master yourself - he is a very early, 1990s, student of Tim's

Tim says - master your tools master yourself

Jeff Qunito says is takes a "committed Trader" - 3 years and $ 30,000.0

or 5 years and $ 50,000.00 to learn how to trade.

beeb is correct - There are less expensive sites.

I highly recommend - Paul C. - I watched his site for 3 months when he first started. He is a former "mentor" student of Tim's and like Shane B. has an agile mind and does great work.

When I went to the Las Vegas Traders Expo - Joe DiNapoli said:

YOU MUST HAVE

The Best Tools, i.e. charting package and data feed.

The Best Knowlege - i.e. Best system, back tested to win

The Best Attitude - No distractions and a complete knowelege of

what it takes to be a Trader

MY OPINIONS: It took me $ 30,000.00 and 3 years to have a clue

I use to use eSignal Advanced GET - great product

I now use Ensign - $ 49.95 a month is cheap

One has to be COMMITTED TO BEING A TRADER

Happy Trading
  • #3,567
  • Jan 1, 2011 1:10pm Jan 1, 2011 1:10pm
Quoting Wave Trader
FX 4 is absolutely correct - Psychology is the most important element

I can not count how many times, in the past, I entered a trade on the platform then - 2nd thoughts - I cancelled the trade - and you know what happen - "to the pip" - it hit my entry and went hell bent for a take profit order.

I can not count how many times, in the past, I have exited a profitable trade to soon.

I say in the past because now - I CAN NOT TRADE IF I DO NOT FOLLOW MY RULES. The rules have to be abosolute.
Well Wave Trader, great thoughts as always to help bring this into focus. The comments quoted above are my focus for 2011. As you said on your way to Traders' Expo in Vegas....not looking to learn more stuff...just keep doing and maximizing what you have that works.

I too cannot count the times I exited too soon or had second thoughts only to see it go as I expected (per my analysis and system, not just a thought). This is the year...January is the month to crack this stuff wide open. Have had strings of consecutive wins: now it is about maximizing me as a trader. Don't need another device, system...certainly don't need an Expert Adviser etc. etc. LOL. Just me, "my" system, the market and the Holy Grail (the One who knows everything but doesn't trade: per Larry Pesavento) .

Then it is a trade by the numbers game...and trade by the rules: and yes, the rules must be as absolute as possible. If the trading edge is good, and the rules are followed, the numbers game should say, "Chi Ching".

All the best to you for 2011.

FX4Newbies
Trade what you see, not what you think or feel. Let the market come to you.
  • #3,568
  • Jan 1, 2011 1:18pm Jan 1, 2011 1:18pm
Agree with Wavetrader - Paul C is the mutt's nuts....

beeb
  • #3,569
  • Jan 1, 2011 1:32pm Jan 1, 2011 1:32pm
Quoting FX4Newbies
Well Wave Trader, great thoughts as always to help bring this into focus. The comments quoted above are my focus for 2011. As you said on your way to Traders' Expo in Vegas....not looking to learn more stuff...just keep doing and maximizing what you have that works.

I too cannot count the times I exited too soon or had second thoughts only to see it go as I expected (per my analysis and system, not just a thought). This is the year...January is the month to crack this stuff wide open. Have had strings of consecutive wins: now it is about maximizing...
FX 4 - It is when you have exhausted the B.S. out there and ready to move forward that shows real growth and signs that you are a Trader.

I like your quotes from Larry P. - Thanks D.

Every Trader has to find his or her path but you KNOW WHEN IT IS RIGHT

I know it is right, now - and it is not luck but work

GOOD TRADING TO ALL IN THIS NEW YEAR!!!
  • #3,570
  • Edited 1:58pm Jan 1, 2011 1:41pm | Edited 1:58pm
Quoting Wave Trader
FX 4 - It is when you have exhausted the B.S. out there and ready to move forward that shows real growth and signs that you are a Trader.

I like your quotes from Larry P. - Thanks D.

Every Trader has to find his or her path but you KNOW WHEN IT IS RIGHT

I know it is right, now - and it is not luck but work

GOOD TRADING TO ALL IN THIS NEW YEAR!!!
And there is alot of it out there...very blessed to have been spared from much of it.

EVERY trader has to find his/her path. Tim Morge has found his, Paul C., Shane B., Joe DiNapoli, Larry P. etc. etc...and now GreatYves is on his way (his post was a bit earlier). Happy for him.

I like your statement..."I know it is right, now". POWERFUL!!! Only you can get to that place for you. Yes, it is work but that's what it takes.

As always, all the best. Will be posting the chart set-ups later if you care to take a look.

FX4Newbies
Trade what you see, not what you think or feel. Let the market come to you.
  • #3,571
  • Edited 2:47pm Jan 1, 2011 2:11pm | Edited 2:47pm
Quoting Wave Trader

The Best Knowlege - i.e. Best system, back tested to win
Just wanted to make a quick comment about the importance of a back-tested system. Now I know, if MM is solid, you can have a half-way decent system and still make money. However, I find when you back-test your trading edge, and you actually see how credible it is, it is a confidence booster...it helps with the psychology. Back-testing is work for sure, and I think maybe some traders don't want to know if their system is worth the money they put out there on it. It is much easier to wait for the random reward so they feel like they are trading with something worthwhile.

Don't get sucked into that psychology...test it and make sure you are getting what you think you in fact have. If you find it is not as credible as you thought, make it better.

FX4Newbies
Trade what you see, not what you think or feel. Let the market come to you.
  • #3,572
  • Jan 1, 2011 6:54pm Jan 1, 2011 6:54pm
Quoting FX4Newbies
And there is alot of it out there...very blessed to have been spared from much of it.

EVERY trader has to find his/her path. Tim Morge has found his, Paul C., Shane B., Joe DiNapoli, Larry P. etc. etc...and now GreatYves is on his way (his post was a bit earlier). Happy for him.

I like your statement..."I know it is right, now". POWERFUL!!! Only you can get to that place for you. Yes, it is work but that's what it takes.

As always, all the best. Will be posting the chart set-ups later if you care to take a look.

FX4Newbies
Great post FX you are have some really good insight...Something that I've been learning as I go along is In the end everyone has their own way up the mountain, but we still have to follow the trail that others have laid for us.

I consider myself lucky to have found Andrew's work. Before this I was going in circles trying to trade using more methods than I could count. So I took Andrew's work and studied and charted thousands of ML's. The geometry is there, but its takes work to see it! Im only 22, and I just graduated. My goal is to become a consistently profitable trader this upcoming year, and I'm going to make it happen

Hope everyone's new year is prosperous and off to a great start. Will be back with posts later
  • #3,573
  • Jan 1, 2011 7:09pm Jan 1, 2011 7:09pm
Quoting ShanB
Great post FX you are have some really good insight...Something that I've been learning as I go along is In the end everyone has their own way up the mountain, but we still have to follow the trail that others have laid for us.

I consider myself lucky to have found Andrew's work. Before this I was going in circles trying to trade using more methods than I could count. So I took Andrew's work and studied and charted thousands of ML's. The geometry is there, but its takes work to see it! Im only 22, and I just graduated. My goal is to become a consistently...
I agree. Anyone who discovers Pitchforks and pursues them would have found a treasure in trading. So many methods out there. If you understand price action and Market Structure, you can do some damage with just a trendline, including drawing the Pitchfork.


You're on the right track and in good company with the people who post here on a regular basis. Keep your goal before you and work consistently toward it. Don't get distracted. Just work through whatever comes and keep pressing.

Take care and all the best,

FX4Newbies

P.S. Thank you for the gracious comment.
Trade what you see, not what you think or feel. Let the market come to you.
  • #3,574
  • Jan 2, 2011 4:38am Jan 2, 2011 4:38am
just wondering has anyone else made the same observation:

that it is better to use a fork with a long handle .. i.e. where 1-2 is longer than 2-3 .. because you get narrower channels to work inside of.

otherwise you end up with these wide fluctuations within the channels, making it difficult to get anything intelligent out of it .. other than in retrospect of course.
  • #3,575
  • Jan 2, 2011 5:27am Jan 2, 2011 5:27am
on this chart, going back to where I have put the red arrow .. working from zig-zag (thin white) I would have created a fork .. BUT it's got the shorter handle referred to in preceding post.

so what happened after that?

expecting Down .. volume low, momentum getting tired .. yes, but only after some scary violent fluctuations .. at last it is "filling" the channel .. but would have been difficult trading.
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  • #3,576
  • Jan 2, 2011 5:48am Jan 2, 2011 5:48am
this one is a different story .. using the very long handle method & entering when volume & momentum are picking up .. would have been a very pretty trade.
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  • #3,577
  • Jan 2, 2011 6:11am Jan 2, 2011 6:11am
can I see anything at this point in time? .. allowing for wildly divergent opening on tuesday .. just for theoretical discussion.

here we have a long-handled fork .. although I prefer to wait until about 3 or 4 candles from the last zig-zag point .. just in case the zig-zag changes its mind
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  • #3,578
  • Jan 2, 2011 7:16am Jan 2, 2011 7:16am
Quoting Alfie
can I see anything at this point in time? .. allowing for wildly divergent opening on tuesday .. just for theoretical discussion.

here we have a long-handled fork .. although I prefer to wait until about 3 or 4 candles from the last zig-zag point .. just in case the zig-zag changes its mind
wait short signal
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  • #3,579
  • Jan 2, 2011 8:08am Jan 2, 2011 8:08am
Quoting Alfie
can I see anything at this point in time? .. allowing for wildly divergent opening on tuesday .. just for theoretical discussion.

here we have a long-handled fork .. although I prefer to wait until about 3 or 4 candles from the last zig-zag point .. just in case the zig-zag changes its mind
to have a bearish garthley h4, so expect short signal
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  • #3,580
  • Jan 2, 2011 2:20pm Jan 2, 2011 2:20pm
As promised, here's 2 Elliot wave count of EURUSD, the most probable and an alternative view. Software generated. But both are low probability charts since only 2 wave degree agree or targets are already reached.
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Harmonics and Pitchfork using korHarmonics from TradingArsenal
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