testing this too..
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-milkeyway
Ratios & Harmonics: a Different Way to Trade
- #7,961
- Jan 29, 2014 11:20am Jan 29, 2014 11:20am
- Joined May 2011 | Status: Trader | 1,374 Posts
-milkeyway
- #7,963
- Jan 29, 2014 11:37am Jan 29, 2014 11:37am
- Joined May 2011 | Status: Trader | 1,374 Posts
I got funny things from my broker{image}
-milkeyway
- #7,970
- Jan 29, 2014 3:56pm Jan 29, 2014 3:56pm
I am fast falling in love with harmonic! Cheers Mr.Pip I am learning how to do this properly but did also find a EA for metatrader. (I know, NO indicators!!) Its just been absolutely fascinating to watch how price turns at the end of these patterns. By seeing it work again and again and again on the 5 and 15min charts I am now convinced of the power of harmonics and will commit to learning it properly now. Does anyone trade harmonics on the 5min charts? If so what are you doing about TP?
My TP is dependent upon what I'm trading, but if you need some guidance to get started Mr. Pip's 38.2 / 61.8 work OK on ABCD patterns.
My humble $0.02... the EA may look very tempting, but it will lead you down a dark path of chasing patterns rather than order flow and strength/weakness.
{quote} I use 5M charts. I prefer tick charts, but I have to use MT4 for my broker so
- #7,975
- Jan 30, 2014 12:48pm Jan 30, 2014 12:48pm
- Joined May 2011 | Status: Trader | 1,374 Posts
-milkeyway
- #7,980
- Jan 31, 2014 6:55am Jan 31, 2014 6:55am
- | Joined Feb 2011 | Status: Trader | 1,204 Posts
So I'm being a little bit impulsive here, but I think this might be interesting to some of you guys. I just found it, and Im listening to it right now
It is a relaxing hypnotic session for developing a 'traders mentality.' And no, Im not affiliated, I've just been using other downloads from the site, its all very professional.
I will tell you guys how it works after I listen to it for a while
http://www.hypnosisdownloads.com/personal-finance/trading-psychology
Here's a description from here http://www.hypnosisdownloads.com/scripts/personal-finance/trading-psychology
It is a relaxing hypnotic session for developing a 'traders mentality.' And no, Im not affiliated, I've just been using other downloads from the site, its all very professional.I will tell you guys how it works after I listen to it for a while
http://www.hypnosisdownloads.com/personal-finance/trading-psychology
Here's a description from here http://www.hypnosisdownloads.com/scripts/personal-finance/trading-psychology
Financial dealing can be a scary business. Huge sums of money have to be managed. Huge risks have to be taken. The potential profits can dazzle and befuddle.
And that is the greatest danger.
The thought of how much money can potentially be made can make people lose their wits.
And a financial trader who has lost their wits won't do well in the long run.
The Trader's Mind Hypnosis Script from The Script Collection has been developed as a tool to help traders develop the mental and emotional skills they need if they are to reach the peak of their profession.
The pre-talk carefully explains what the traps are that lie in wait for the unwary, and the importance of emotions in influencing trading decisions. A trader needs to be able to control their emotional response.
A physical relaxation induction gently leads the client into a receptive learning state, with embedded suggestions and appropriate metaphors starting the process of establishing the trader's mindset while they relax.
Splitting conscious and unconscious processing, the fundamentals of good trading and right attitude are literally and metaphorically conveyed. Against this template, the client hypnotically rehearses their own preferred trading behaviour, bringing in the new mindset and principles.
Repeated hypnotic rehearsal embeds the new patterns of behaviour and ensures the client takes full ownership of their own trader's mind.