Harmonic Trading - page 491
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Just for reference.
Technically scalping is the way the can make you the most amount of pips . take this example
EUR/USD moves total of 200 pips on any given days , so the most you can make on daily bases is 200 pips (ofcoz if ur running in the same way with price
)
on the other hand , EUR/USD can move even 1000 pips within the same day itself since the price moves in waves most of the times , so if you can ride those waves up and down then you can make much more pips than trading large time frames ... but guess what ? this only can happen in a perfect world
, because in the real world i'v been trading in for years i found out that scalping can only make you a small amount of pips on daily bases and it's extremely risky even though the risk is small but to many small risks are just as bad as one big risk so >
Personally , i feel more comfortable trading 4H and daily charts as it's stress free , all it takes is just a few minutes to place a trade and let it run for hours/days and take your loss/profit . so most of my trades come from 4H and then Daily and then only a few on small charts , also as i mentioned before i only trade along with the trade i don't take counter trend trades , i use very tight stop loses when comes to scalping and i can say if you do it well you can make a few tens of pips daily unless the markets are moving very fast like that day i made more than100 pips in a very little amount of time but for today i was only able to make 40 pips on USDJPY . but if you are a person who have time and can control your emotions then ya why not, try to scalp on demo account for a month and see how it goes , i only use 121 patterns from KorHarmonic , try it with default setting and then take the error margin down slowly , for now think anything less than 10% is good to count on . again you should not scalp on real money till you have totally killed your emotions and become like a robotMany Thanks for your sharing.......
I am very ... very happy to be here to learn Harmonic Trading and to know each others...
Although we haven't meet each others, I feel here as family ---- everyone try their best to help each other by sharing their humble and truly stories (opinions)
Here is not commercial promote, not talking about money --- the money only came from their own trading ^^, not spammer posting ....
Thanks for
poruchik
grandaevus
Mike_Mike
RyuShin
darrenmkn
irad
and Thanks for all of you in this Harmonic Trading Forum
When trading with Harmonic, I think analysing the higher time chart is also important.
When I look into 1H chart with S/R line and MA and RSI break-out and Pin Bar to confluence Harmonic is wonderful .....
When trading with Harmonic, I think analysing the higher time chart is also important.
When I look into 1H chart with S/R line and MA and RSI break-out and Pin Bar to confluence Harmonic is wonderful .....everything that helps your analysis and not make your chart confusing is important,
market is moving in trend or consolidate.
both markets you can trade harmonic, usually on trending market you could look for extended targets, while on consolidation period of time you get in and watch for another harmonic pattern to form and hump on that trade(or what ever works for you)
(see 4 posts above, my gbpjpy analysis, classic consolidation market forming back to back patterns)
you can also use price action to have an idea if market went into consolidation period or trending period.
everything that helps your analysis and not make your chart confusing is important,
market is moving in trend or consolidate.
both markets you can trade harmonic, usually on trending market you could look for extended targets, while on consolidation period of time you get in and watch for another harmonic pattern to form and hump on that trade(or what ever works for you)
(see 4 posts above, my gbpjpy analysis, classic consolidation market forming back to back patterns)
you can also use price action to have an idea if market went into consolidation period or trending period.With Harmonic Trading, I don't know why the Harmonic Trading is no good in Trending Market as it may be in counter trend situation. When is the top or bottom ?!
In my opinion, we can't know when is in trending ?
Trending also in different time-frame.......
15m is in a trending but 1 hour chart is not .....
So I am still in finding more and testing more.....
With Harmonic Trading, I don't know why the Harmonic Trading is no good in Trending Market as it may be in counter trend situation. When is the top or bottom ?!
In my opinion, we can't know when is in trending ?
Trending also in different time-frame.......
15m is in a trending but 1 hour chart is not .....
So I am still in finding more and testing more.....I told you, you can trade both trending and consolidate markets,
the only difference for me is the shooting for extended targets
you are correct, you can find the 5m chart is trending while on the 1 hour chart you are basically going sideways, it's up to you if you wanna look on the TTF and HTF to set your target,
it is up to you only what your want to do,
you know when a market is trending while you have higher high and higher close, or lower low lower close. those could be a false breakout aswell, you just need to be aware. and you might want to set a rule of trending market so you can decide: "when the market make a higher close then a lower close, and then another higher close and another lower close", then your rule tell you that this is a trending market on the TTF(and if HTF is still consolidate and your extended target is above/below the ranging zone you may consider closing the trade or be more risky).
or you could also wait just for one higher close and decide that market began trending again.
anyway, this is your trading plan, you need to set the rules for yourself and be responsible for your actions.
a market that going into consolidation you'll the price going sideways and just no making any higher closes or lower closes(may make high highs or higher low and you might see a false breakout where price closes above a range and then going back inside consolidation zone(probably stoploss hunters))
my point being: price action is objective, trading is subjective and that why I combine the two to know if I should shoot for extended target or keep my targets inside the X to D pattern
P.S
in order to know where top and bottom is, you must know how to read price action
Back to Back patterns @ 5m GBPJPY - perfect bearish gartley confluence(78.6% lines up with 127.2%) turn into a bullish cypher right at the C leg(market is closed I won't get into that trade probably because of the high spread at the end of the trading week but it's always nice to watch)
I didn't get the gartley formed by v117 but KorHarmonics detected. Your v135 says "cypher" but my v135 says "new cypher". Is your v135 just v135 or v135 ALL HL 113?
@poruchik, what are the fundamental rules for MAX patterns? I can't find any info about it :/
Hi RyuShin ,
Could you re-post the Korharmonics v10.1 or is it something wrong setting in my chart as attached, it is showing Korharmonics 6.7.8 ....on the left bottom ....??
Many Thanks ~~Could you please share v6.7.8 .would appreciate .thanks in advance .
Could you please share v6.7.8 .would appreciate .thanks in advance .
I believe there's no such version. You can find v10.1 here https://www.mql5.com/en/forum/173588/page255. That version is named v10.1 but when you add it to charts, it says "v6.7.8" on left bottom. I believe this is a modified version of KorHarmonics. Nobody even knows what exact version it is.