Harmonic Trading - Traders Hideout | futures io social day trading
futures io futures trading


Harmonic Trading
Updated: Views / Replies:50,786 / 165
Created: by George Attachments:130

Welcome to futures io.

(If you already have an account, login at the top of the page)

futures io is the largest futures trading community on the planet, with over 90,000 members. At futures io, our goal has always been and always will be to create a friendly, positive, forward-thinking community where members can openly share and discuss everything the world of trading has to offer. The community is one of the friendliest you will find on any subject, with members going out of their way to help others. Some of the primary differences between futures io and other trading sites revolve around the standards of our community. Those standards include a code of conduct for our members, as well as extremely high standards that govern which partners we do business with, and which products or services we recommend to our members.

At futures io, our focus is on quality education. No hype, gimmicks, or secret sauce. The truth is: trading is hard. To succeed, you need to surround yourself with the right support system, educational content, and trading mentors Ė all of which you can find on futures io, utilizing our social trading environment.

With futures io, you can find honest trading reviews on brokers, trading rooms, indicator packages, trading strategies, and much more. Our trading review process is highly moderated to ensure that only genuine users are allowed, so you donít need to worry about fake reviews.

We are fundamentally different than most other trading sites:
  • We are here to help. Just let us know what you need.
  • We work extremely hard to keep things positive in our community.
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts.
  • We firmly believe in and encourage sharing. The holy grail is within you, we can help you find it.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.

You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

Reply
 130  
 
Thread Tools Search this Thread
 

Harmonic Trading

  #11 (permalink)
Elite Member
Perdido Beach, AL
 
Futures Experience: Intermediate
Platform: graph paper
Favorite Futures: Guitar
 
websouth's Avatar
 
Posts: 1,150 since Jul 2009
Thanks: 1,094 given, 1,299 received

I will need to look at the numbers you are talking about . I have been using the fib extension tool instead of the retracement tool. A trick I learned from Gio on this board. It provides pretty safe entries. I think it is the same numbers just inverted..... looking into it now.

I draw A-B and C. Then wait for the price to make a decision to fail the retrace and go back thru the 0 line or confirm with a move up thru the 50% line (green). This is entry at the latest. Then looking for price to shoot through the 100% line. (seashell) If price goes thru this and comes back immediately I exit with breakeven or small gain. If price contines thru the 100% line then the target is the 127/161 (fuschia) area look to take profits here. If continues then next area is 231/261 (dark cyan) and final target is 423 (seashell). 423% is a great day...

Price really seems to respect these levels...

In image below I was hoping for a long but it could have gone either way. Confirmation was break of green line (50%) A break to the downside would have just set up in the opposite direction....

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).



Also I use the tool to look for tops... If momentum seems to fading. The put the "tool" on and watch. If price can't make it past the 100% (seashell line) then look for more weakness.

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).

Attached Thumbnails
Harmonic Trading-fibextensions.jpg   Harmonic Trading-lookingfortop.jpg  

Last edited by websouth; October 2nd, 2009 at 10:29 AM. Reason: image
Reply With Quote
The following 2 users say Thank You to websouth for this post:
 
  #12 (permalink)
Elite Member
California
 
Futures Experience: Intermediate
Platform: Ninjatrader
Broker/Data: Zen Fire
Favorite Futures: ES, Currency Futures (6E)
 
Posts: 159 since Sep 2009
Thanks: 78 given, 10 received

Yes George, Thanks. My questions really is, in your last attachment for example, why are not the waves previous to the one you are showing A-B waves. How come you started showing the possible point A from there and not before.

Thanks
-Keep

Reply With Quote
 
  #13 (permalink)
Elite Member
Sweden
 
Futures Experience: Master
Platform: TT, NT, MetaTrader
Broker/Data: Velocity Futures, MB Trading
Favorite Futures: EUR/USD
 
George's Avatar
 
Posts: 401 since Jun 2009
Thanks: 1,005 given, 1,167 received


Websouth,

Thanks for the input. But isn't the effect of what you're describing giving you somehow random probabilities?

What you're describing is not Pessavento AB=CD, because it lacks the relationship BC = ,618 or ,786 of AB

What I mean by random is that it doesn't respect the harmonic retraces of ,618 or ,786 (,382 if strong move). The BC which is the key in this case is random. The way I understand it, you could be jumping on any pullback, as long as it's a pullback!

Just my 2 cents.
/George

Reply With Quote
The following 2 users say Thank You to George for this post:
 
  #14 (permalink)
Elite Member
Sweden
 
Futures Experience: Master
Platform: TT, NT, MetaTrader
Broker/Data: Velocity Futures, MB Trading
Favorite Futures: EUR/USD
 
George's Avatar
 
Posts: 401 since Jun 2009
Thanks: 1,005 given, 1,167 received


keepdchange View Post
Yes George, Thanks. My questions really is, in your last attachment for example, why are not the waves previous to the one you are showing A-B waves. How come you started showing the possible point A from there and not before.

Thanks
-Keep

Keep,

They could be, put a retracement on them and measure them. See if they respect the rules, if they don't it means that the AB=CB relationship doesn't exist. What you want is the odds with you. Imagine you are out there with a stick, measuring stuff, when you've found the thing you're looking for and it fits your stick, then it means it's gone work well, with your expectations. And your expectations are based on the value of your stick.

Or imagine this. You're looking for a constant value of 10 bars. If we look at a chart with a frame of 3 ranges for i.e. then you might get a range from 1 to 5! So each bar represents 3 ranges, and what you want is the value of 10 bars.

Now if you take a bar of 10 ranges, will you then get another range value? Yes you will!
But nevertheless the relationship hasn't changed! You still have a value of 10 bars.

So in this case if you measure the top from another position, you're still looking for that value of retracement. Aren't you?

R u with me now?!

/George

Reply With Quote
The following user says Thank You to George for this post:
 
  #15 (permalink)
Elite Member
California
 
Futures Experience: Intermediate
Platform: Ninjatrader
Broker/Data: Zen Fire
Favorite Futures: ES, Currency Futures (6E)
 
Posts: 159 since Sep 2009
Thanks: 78 given, 10 received

I have to look at it in a closer detail I think. Thanks for the explanation. My experience with waves has been that let's say market drops from point A to point B, then it retraces back (and they usually do by .38, .5 or .618). Most do that. So does that mean each one is a wave AB?

Thanks
-Keep

Reply With Quote
 
  #16 (permalink)
Elite Member
Toronto Canada
 
Futures Experience: Intermediate
Platform: ninja Trader, Ensign,Market Delta
Broker/Data: AMP,Global Futures
Favorite Futures: Eminis
 
Posts: 97 since Jun 2009
Thanks: 46 given, 83 received

The answr to Your question is simple. To understand Harmonic patterns some one must have sound knowlege/understanding of Elliot waves and Fib. For Elliot waves you must look for good ZigZag Indicator. Some are available free on this forum as well as on Ninja trader forum. But all just works up to certain level. So I advise you to look into market for some good Elliot wave tool. Then make your self well trained in Elliotwave count. After that make lot reading on Fibs and read charts or their proper application. As Elliot wave and Fib have very close relation to each other and always keep you on write side of market. I spent a complete year to study them. Now I am comfortable. Once you get all this, then Its very easy for you to see harmonic patterns and pattern with in patterns. Answer for AB indification, it can be be any wave. I hope may be These few words helpful or you.

Reply With Quote
The following 2 users say Thank You to KJAVED for this post:
 
  #17 (permalink)
Elite Member
California
 
Futures Experience: Intermediate
Platform: Ninjatrader
Broker/Data: Zen Fire
Favorite Futures: ES, Currency Futures (6E)
 
Posts: 159 since Sep 2009
Thanks: 78 given, 10 received

Thank you KJAVED. Would you be able to recomend any Elliot tools?

Thanks
-Keep

Reply With Quote
 
  #18 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
Big Mike's Avatar
 
Posts: 46,240 since Jun 2009
Thanks: 29,352 given, 83,231 received

Here is a AB=CD example PDF with illustrations/charts.

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

Attached Thumbnails
Harmonic Trading-gft-abcd-bearish.pdf  
Reply With Quote
The following 4 users say Thank You to Big Mike for this post:
 
  #19 (permalink)
Elite Member
Chiron
 
Futures Experience: None
Platform: ninjatrader
Broker/Data: Amp Futures/Zen-Fire
Favorite Futures: ES
 
Posts: 740 since Aug 2009
Thanks: 25 given, 152 received


keepdchange View Post
Thank you KJAVED. Would you be able to recomend any Elliot tools?

Thanks
-Keep

keepdchange

the best wave tool is the elliot osc found at ninja forum

however, im lazy and use MTP which i got from rich's ttt
,
take care

Attached Thumbnails
Harmonic Trading-elliot-waves.jpg  
Reply With Quote
 
  #20 (permalink)
Elite Member
Perdido Beach, AL
 
Futures Experience: Intermediate
Platform: graph paper
Favorite Futures: Guitar
 
websouth's Avatar
 
Posts: 1,150 since Jul 2009
Thanks: 1,094 given, 1,299 received

swing temp


This indicator will probably do the searching as far as finding qualifying retracements.... Because the fib draw tool is a stock ninja feature I don't think you can edit it or call an edited version. You can click on it and edit while on your chart but a refresh goes back to standard settings as far as the fib - showing all the levels and the text description. It would be nice to show clean just the 3 levels you mention as in screen shot...
https://futures.io/free_downloads/ninjatrader/indicators/25-download.html?view

Attached Thumbnails
Harmonic Trading-swingtemp.jpg  
Reply With Quote

Reply



futures io > > > Harmonic Trading

Thread Tools Search this Thread
Search this Thread:

Advanced Search



Upcoming Webinars and Events (4:30PM ET unless noted)

Jigsaw Trading: TBA

Elite only

FuturesTrader71: TBA

Elite only

NinjaTrader: TBA

Jan 18

RandBots: TBA

Jan 23

GFF Brokers & CME Group: Futures & Bitcoin

Elite only

Adam Grimes: TBA

Elite only

Ran Aroussi: TBA

Elite only
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
Harmonic Trading George NinjaTrader Programming 5 January 23rd, 2016 02:16 PM
Harmonic Setup wh Currency Futures 14 August 22nd, 2011 11:04 PM
Harmonic pattern recognition software? tingos318 Platforms and Indicators 3 July 16th, 2011 10:17 PM
Harmonic Trading Big Mike Traders and Trading Methods 0 July 8th, 2010 02:31 AM
Harmonic Trading George Psychology and Money Management 6 October 1st, 2009 05:31 PM


All times are GMT -4. The time now is 09:37 AM.

Copyright © 2017 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts
Page generated 2017-12-14 in 0.14 seconds with 20 queries on phoenix via your IP 54.82.56.95