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Harmonic Trading
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Harmonic Trading

  #41 (permalink)
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Jeff,

No, no stocks. Early in my career I traded stocks, but they're very much manipulated by the market makers. Futures are less manipulated and I prefer to trade them. And yes, I'm keeping my trades aligned with the trend. I've always been the revolutionary guy, going against the heard, and I have to admit that I still like it, but I've learned over the years that one has to be careful with that and balance the "going against the heard" thing in a proper way. The heard can turn into a beast on crack!

How about you?!

/George

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  #42 (permalink)
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George

I got run over 1 too many times trying counter trend trades. So currently I am only going with the trend. I use 60 minute on day trades for trend ID and weekly charts for trend ID for swing trades off daily charts. I like 3 and 13 minute charts for day trade entry and I trade from 60 minute charts for what I call short swings 3-5 days and daily charts for 5-15 days.

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  #43 (permalink)
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Trade Chart Patterns Like the Pros


Fwiw, another excellent resource for harmonic trading is "Trade Chart Patterns Like the Pros," self-published by Suri Duddella and can be found at www.surinotes.com. In addition to a preview of his book, you will also see numerious screen captures of him placing trades using these techniques on both equities and futures.

Whitmark

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  #44 (permalink)
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whitmark View Post
Fwiw, another excellent resource for harmonic trading is "Trade Chart Patterns Like the Pros," self-published by Suri Duddella and can be found at www.surinotes.com. In addition to a preview of his book, you will also see numerious screen captures of him placing trades using these techniques on both equities and futures.

Whitmark

I agree. I've owned this book for a while, it's a great resource.

Mike

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  #45 (permalink)
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Next

I saw that book listed on another thread, It's next on my list.

Jeff

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  #46 (permalink)
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some good examples here from suri
http://www.traderslaboratory.com/webinars/suriDuddella_TL_Oct2408.pdf

but also more on the geometric side
http://www.traderslog.com/marketgeometry.htm


Last edited by websouth; October 11th, 2009 at 01:54 AM.
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  #47 (permalink)
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All markets are manipulated, and due to the cointegration between markets even the ones which are hard to manipulate will be manipulated indirectly. You are right that stocks are usually the easiest for operators to manipulate due to the rules of specialists/market making on the various exchanges but manipulation is rampant everywhere.

Just open up some charts of obviously related forex pairs and observe for a while if you don't believe me. Operators on the forex market love to 'make the rounds' by handling one set of currencies while holding other related ones still, then they usually switch it up and push the ones that were being held against the direction you would intuitively expect to knock traders out of their positions (stop hunt) and/or trap them into bad positions before rapidly bringing it back into alignment with the related crosses.

Such manipulations are routine and blatantly obvious when you know what to look for. That is why understanding how the operators work is the most powerful tool you can have on your belt. Note that there is no one set formula, different markets will be manipulated in different ways due to differences in exchange trading rules or differences in volume, transaction costs, etc.. hence why screen time closely inspecting the action of various markets is invaluable.

Understand the market dynamics, find the important signals to look for.. then go about looking for or designing an indicator to isolate and detect those signals. That is a crucial mistake most people make, trying to go about it the other way around.


George View Post
Jeff,

No, no stocks. Early in my career I traded stocks, but they're very much manipulated by the market makers. Futures are less manipulated and I prefer to trade them. And yes, I'm keeping my trades aligned with the trend. I've always been the revolutionary guy, going against the heard, and I have to admit that I still like it, but I've learned over the years that one has to be careful with that and balance the "going against the heard" thing in a proper way. The heard can turn into a beast on crack!

How about you?!

/George


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  #48 (permalink)
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to get a view about the trend and like to pattern 123 or ab cd you can build a chart enviroment ...

i posted in a other thread but here is also good. i like the words from traderjesse

here some infos http://forex-strategies-revealed.com/advanced/trend-line-trading-strategy to combine with 123, abcd and mml

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Last edited by wh; October 11th, 2009 at 06:05 PM.
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  #49 (permalink)
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Example of overlapping Patterns

and how Fib extensions be used for target predictions.

Chart is kinda busy but you can see 2 AB=CD patterns that are clean with retrace and extensions.

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  #50 (permalink)
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Who and what is/was Fibonacci?

Leonardo de Fibonacci was one of the greatest mathematicians of the Middle Ages. He's the one that introduced the Arabic art of Algebra to the Roman civilization, meaning that he introduced the numbers we use in the world today. Till then we used the roman numerals (I = 1, II = 2, III = 3, IV = 4, V = 5 and so on). He also studied the Pyramids of Egypt.

Thanks to that he discovered the Golden Ratio.

The sequence of the Fibonnaci numbers is quite simple:

0,1,1,2,3,5,8,13,21,34,55,89,144 ---------------------infinity

Starting with zero and adding one begins the series. The calculation takes the sum of the two numbers and adds it to the second number in the addition.

(0+1=1)...(1+1=2)...(1+2=3)...(2+3=5)...(3+5=8)...(5+8=13)...(8+13=21)...(13+21=34)...and so on


When we look beyond this eight sequences of calculation we find that there are constant relationships. If we divide the former number by the latter, it yields ,618

34/55 = ,618181 ~ ,618
55/89 = ,617977 ~ ,618
89/144= ,618055 ~,618
144/233=,618025~,618

and so on...

If we divide the latter number by the former we get this:

55/34= ,1617647 ~1,618
89/55= 1,618181 ~1,618
144/89= 1,617977~1,618
233/144=1,618055~1,618

and so on...


The ,618 and the 1,618 are two of the four Fibonacci -related numbers that are used to consider price action harmonic. The two other numbers that derives from the series (0,786 and the 1,27 ) are the square root of the 0,618 and the 1,618.


These four numbers have been found to exist in many natural and man-made phenomena. The ,618 and the 1,618 constants from the series are found in the Great Pyramids. We find this on the human body. It's out in nature. And they're even present in the markets. They frequently occur in price charts on all time frames. So, the primary concept to grasp is that these numbers exist for a reason. As you begin to incorporate these numbers into your existing chart analysis, you will realize that these measurement techniques are effective tools in gauging price action.


Last edited by George; October 15th, 2009 at 08:54 AM.
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