How to become better trader using Harmonic Pattern Plus and Price Breakout Pattern Scanner.
We developed these two software because we have met extremley profitable traders using both harmonic pattern and elliote wave trading.
These talented traders knows repainting problem in their trading setup already but they still can not give up these strategy cause knowing the turnng point for the current trend is so much benefial for their trading. Because you can aim for really high Reward/Risk ratio for your trading.
However to these excellent traders, there are some ways for controlling repainting. Usually better traders control the repainting better.
After we have enganged this repaiting problem, indeed we have developed few advanced techniques in logical and scientific way.
We have worked long to put all these advanced feature in our software. Of course, these techniquare are not available on other software.
In regards to harmonic Pattern plus, here are important features to control repainting.
1. Lock the pattern before you send order. Pressing "Pattern" button allow you to lock and unlock each pattern of your interest.
There will never disappear from your chart. Just press pattern again to unlock the patt
2. Understand and use Potential Reversal Zone for your trading. With harmonic pattern plus, you can use PRZ lines. I also wait for the price to cross few of the early PRZ lines after the pattern detection. This increase sucess rate far more.
3. Pattern Completion interval tells you if pattern is repainting, at which point it will be stop repainting.
4. Use oscillator to double confirm your pattern. plus after pattern is detected, you are suppose to wait at least one candle bar to confirm the pattern.
5. With Reward/Risk =5, you will only need to be right 2 out 10 trades. It is easy to break this odd. Every successful trades after this will add to your profits. From both harmonic pattern and price breakout pattern scanner you can achieve these odd often. But you could also use Reward/ Risk >3.
In regards to Price Breakout Pattern Scanner, here are important features to control repainting.
1. Lock the pattern by pressing Pattern button.
2. Use oscillator like RSI, Stoch or demarker to double confirm patterns.
3. Use Smart Renko (it is built in inside Price Breakout Pattern Scanner.) Remember Renko chart is very useful for price action traders. You will find it is amazingly useful.
4. With Reward/Risk =5, you will only need to be right 2 out 10 trades. It is easy to break this odd. Every successful trades after this will add to your profits. From both harmonic pattern and price breakout pattern scanner you can achieve these odd often. But you could also use Reward/ Risk >3.
Another way to improve your trading is to trade when both harmonic pattern and price breakout pattern are detected.
We understand there are some gap between staters and seasoned traders in terms of confidence for their trading setup.
Please read the manuals in previous post for further understanding.
Kind regards.
We developed these two software because we have met extremley profitable traders using both harmonic pattern and elliote wave trading.
These talented traders knows repainting problem in their trading setup already but they still can not give up these strategy cause knowing the turnng point for the current trend is so much benefial for their trading. Because you can aim for really high Reward/Risk ratio for your trading.
However to these excellent traders, there are some ways for controlling repainting. Usually better traders control the repainting better.
After we have enganged this repaiting problem, indeed we have developed few advanced techniques in logical and scientific way.
We have worked long to put all these advanced feature in our software. Of course, these techniquare are not available on other software.
In regards to harmonic Pattern plus, here are important features to control repainting.
1. Lock the pattern before you send order. Pressing "Pattern" button allow you to lock and unlock each pattern of your interest.
There will never disappear from your chart. Just press pattern again to unlock the patt
2. Understand and use Potential Reversal Zone for your trading. With harmonic pattern plus, you can use PRZ lines. I also wait for the price to cross few of the early PRZ lines after the pattern detection. This increase sucess rate far more.
3. Pattern Completion interval tells you if pattern is repainting, at which point it will be stop repainting.
4. Use oscillator to double confirm your pattern. plus after pattern is detected, you are suppose to wait at least one candle bar to confirm the pattern.
5. With Reward/Risk =5, you will only need to be right 2 out 10 trades. It is easy to break this odd. Every successful trades after this will add to your profits. From both harmonic pattern and price breakout pattern scanner you can achieve these odd often. But you could also use Reward/ Risk >3.
In regards to Price Breakout Pattern Scanner, here are important features to control repainting.
1. Lock the pattern by pressing Pattern button.
2. Use oscillator like RSI, Stoch or demarker to double confirm patterns.
3. Use Smart Renko (it is built in inside Price Breakout Pattern Scanner.) Remember Renko chart is very useful for price action traders. You will find it is amazingly useful.
4. With Reward/Risk =5, you will only need to be right 2 out 10 trades. It is easy to break this odd. Every successful trades after this will add to your profits. From both harmonic pattern and price breakout pattern scanner you can achieve these odd often. But you could also use Reward/ Risk >3.
Another way to improve your trading is to trade when both harmonic pattern and price breakout pattern are detected.
We understand there are some gap between staters and seasoned traders in terms of confidence for their trading setup.
Please read the manuals in previous post for further understanding.
Kind regards.
