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Harmonic and Classic Patterns

  • #201
  • Nov 23, 2011 1:21am Nov 23, 2011 1:21am
Quoting kor4x
@foxmehrabi
Hi,
Could you please explain what type of confirmations did you implement in the EA?

http://tradingarsenal.com/showthread...monic-Patterns

thanks,
kor4x
hi. i like the 'keep it simple' adage. I will take a trade if there is a closing candle in the direction of the signal. i need at least one other timeframe to confirm the trade. Also i will favour a trade in the trend if shown on all 3 time frames. I will move my stop to break even after a 50% move or take a bit of profit if there is enough room. i look for a free trade as soon as possible and always try and limit my risk. moving my stop to the next support or resistance level.
  • #202
  • Nov 24, 2011 9:06pm Nov 24, 2011 9:06pm
Thanks its an indicator not an ea.
Quoting foxmehrabi
im still working on this ea. cant back test it much as it doesnt give much of a history. im in about 3 weeks. only look at h1 h4 and D1 charts and dont trade if there are conflicts. looking good so far but early days.
  • #203
  • Nov 25, 2011 1:42pm Nov 25, 2011 1:42pm
@fox

maybe add this for confirming your entry:
Inserted Video


btw: regarding your answer, i never wait for the candle in my direction, in such way i would increase SL, and i want to keep SL to the minimum. I think i have very good timing. It's my edge.
http://screencast.com/t/d83fcFKxTIr

Regards,
kor4x
  • #204
  • Nov 25, 2011 6:10pm Nov 25, 2011 6:10pm
Hi Kor,
Could you share your band indicator? I tried Bolinger but it looks very different.
Thanks
Quoting kor4x
@fox

maybe add this for confirming your entry:
http://www.youtube.com/watch?v=PtW77k3R594

btw: regarding your answer, i never wait for the candle in my direction, in such way i would increase SL, and i want to keep SL to the minimum. I think i have very good timing. It's my edge.
http://screencast.com/t/d83fcFKxTIr

Regards,
kor4x
  • #205
  • Nov 26, 2011 5:46am Nov 26, 2011 5:46am
@juz
Ziemo put the indicator he used here, below the video:
http://tradingarsenal.com/showthread...&p=346#post346

but you could use other types of band indicators as well.
  • #206
  • Nov 26, 2011 7:45am Nov 26, 2011 7:45am
Thanks for that kor4x,

Its got me looking again at your indicator. I had a look a few months ago at this and similar harmonic drawing indicators but what i found was that looking at the history was fine as the gartleys butterflies or whatever had completed, but when forward testing them more often than not they would redraw to a new level knocking out my stop before settling at a level and then making its intended move. Obviously all these new shapes were valid and i recall there being an alert to a possible new shape that you could switch on or off, but still it knocked the hit rate below 50% which put pressure on my reward risk ratios. Of course it would be foolish to put all ones eggs in one basket and trade solely on a harmonic setup, but i do believe when used in conjunction with other indicators helps keep the account in the black.
I liked your video, i will check this out.
  • #207
  • Nov 27, 2011 12:11am Nov 27, 2011 12:11am
Thanks foxmehrabi,
I like your indicator as once the signal appears it doesn't repaint unlike kors or zup which is very good too but that repaints and need confirmation...great job!

Quoting foxmehrabi
Thanks for that kor4x,

Its got me looking again at your indicator. I had a look a few months ago at this and similar harmonic drawing indicators but what i found was that looking at the history was fine as the gartleys butterflies or whatever had completed, but when forward testing them more often than not they would redraw to a new level knocking out my stop before settling at a level and then making its intended move. Obviously all these new shapes were valid and i recall there being an alert to a possible new shape that you could switch on...
  • #208
  • Nov 28, 2011 9:03am Nov 28, 2011 9:03am
Hi guys,
hm... i remember commenting somewhere on this repaint...
first, i think repaint is good, but it must not repaint the rectangle price levels. As far as i remember korHarmonics and ZUP do not repaint these levels.

second, i agree with you regarding the history. On history all looks nice, and history is kind of useless for us-traders.

Third, improvement for ZUP and korHarmonics should come from adding the time rules and multitimeframe analysis.

It's been already more than a year that we work at TradingArsenal on AMP indicator, not korHarmonics. AMP combines price, time and confirmation technics, emerging,completed and running and invalidated patterns, but it still repaints when necessary, as it's good approach. Will find the link.

btw: new video from Ziemo regarding gaps and wide range bars -->
Inserted Video
  • #209
  • Nov 29, 2011 2:57am Nov 29, 2011 2:57am
Thanks for the great job, any updates?
Quoting foxmehrabi
im still working on this ea. cant back test it much as it doesnt give much of a history. im in about 3 weeks. only look at h1 h4 and D1 charts and dont trade if there are conflicts. looking good so far but early days.
  • #210
  • Dec 6, 2011 5:00pm Dec 6, 2011 5:00pm
Inserted Video
  • #211
  • Dec 8, 2011 6:48pm Dec 8, 2011 6:48pm
Inserted Video
  • #212
  • Dec 20, 2011 5:42am Dec 20, 2011 5:42am
-It's my first post on FF I've been a watcher for about 1year.

- If you have any comment or any question please don't hesitate to reply.

- Here's about 150 pips in GBP/NZD from US Session .
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  • #213
  • Dec 20, 2011 6:03am Dec 20, 2011 6:03am
Here's a bullish bat today in London session with easy precious 30 pips.

I'll keep my posts regularly to help all traders, because I learned a lot in FF.
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  • #214
  • Dec 20, 2011 6:08am Dec 20, 2011 6:08am
Another bearish butterfly on GBP/CHF H1 for fast 40 pips this morning.
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  • #215
  • Dec 20, 2011 11:46am Dec 20, 2011 11:46am
Every body stops have been taken out, except us harmonic traders, you can short from the yellow level .3129 and its also strong with .3125
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  • #216
  • Dec 20, 2011 11:51am Dec 20, 2011 11:51am
Even a CFD, we can make money on it.
Here is an hourly Exxon mobil with straight 125 pips
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  • #217
  • Dec 21, 2011 6:11am Dec 21, 2011 6:11am
Please comment as I'm new to harmonic trading.

Is it reasonable to set tp1 AT 61.8% AS as per the pic?
Attached Image (click to enlarge)
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  • #218
  • Dec 21, 2011 6:29am Dec 21, 2011 6:29am
Yes u can bolo
  • #219
  • Dec 21, 2011 6:38am Dec 21, 2011 6:38am
itss its up to you and what your rules are Bolo. I let my stops take me out. so i keep moving my stops to resistance or support lines as it goes in my intended direction. i want to be stopped out to exit my trades. the B point is the first target though. i like a 1:2 from my entry in a prz to the B point. ie if my risk is 30 pips then i want to see at least 60pips to B. But its more important that you develop your own trading style that fits your personality. The main thing with any trading is consistency. its actually very easy to find a profitable system, its us traders who get in the way of it working., fear and greed as im sure you are aware are our nemisis to be kept at bay and not to influence our decisions.

good luck.
  • #220
  • Dec 21, 2011 7:16am Dec 21, 2011 7:16am
Sorry for the short answer bolo,because I have to eat. First thing the pattern u are trading on is weak, Why? -Because there is a bullish gartley on H4 which is anti to H1 (bearish) so don't take that trade and that's what happened it collapses in US session.

I prefer to enter and exit on around number I notice 25 - 50 - 75 -100 and pcp Why? because I'm afraid of news to take my profit and we are on December (where ever ur stops it will be eaten)
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