DislikedDoes anybody know about the performance of Scott Carney as a trader, not a educator? Watching recent poor performance of Jason Stapleton, I doubt the accuracy and consistency of harmonics.... Indeed, when Jason's talking about patterns, he says its accuracy is about 60%, which is 10% more than tossing up a coin. I want 70-80% accuracy minimum. Also, RR is somewhat overstated. In my opinion, it's barely 1:1 thanks to stop hunters. I am 4H based trader but close the position mostly within 3 bars (average trading period is 10 hours). It means I want...Ignored
Every Trader will have different performances, success is a measure of the individual and not the system. Accuracy improves from the hours you spend working on your technique. I completely on your position on harmonics perhaps this comment comes from receiving poor instructions from the Stapleton group. They have taken Scott's work and turned it into something that it is not. Your approach to trading the 4H doesn't make much sense to me as there is nothing from an order flow prospective that you are following. I would need to understand your methodology further to give you a better feedback. Trading at a high risk reward is critical to profitability and reducing drawdown. Why would you have to force yourself to be 70% 80% accurate to make money. I trade at a better then 70% accuracy and my risk reward is 2:1 or better so losing money long term is impossible.
Stapleton does not trade true market harmonics they also have no idea how to properly qualify the patterns and enter every pattern they find blindly because they have little to no clue how to properly assess the order flow to determine which setups are worth taking and which are not. I would like to get on skype with you and have this discussion with you so that we don't drift in a different direction. I think your comments are not accurate and may come from a lack of understanding true market Harmonics.
If you fail to plan, you plan to fail.