Harmonic Traders. Sucessful traders?

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Some of the traders I know trade harmonic patterns. I know some traders who are succesful trading these systems. I would like to know what your experience is with Harmonic trading
 
Harmonic Pattern is a good way to make a excellent income however the key is to trade at least between 4-6 pair at a time why well cause if you loose a few trades you won't see much loses in your account , for me Harmonic Pattern are excellent but the higher the time frame the best success rate , but again that's just my point of view, You just follow the patterns and learn how to use them and you could make a steady income, but please don't think you will get rich cause if that is your point of view then you will end up loosing a lot so for that best to burn the money or just throw it away, also went I follow my patterns I don't just put a order per pair I put more than one, like for example the first exit point the 38.9 Fibo then move my stop to break even level on next orders , for the next I get out at the 61.8 fibo and the next order I just live it open until I think it can't go no more , so beside doing my calculations I check support resistance level and candle formation to get in.
 
Thanks for your comments. Im happy to see that there are active Harmonic traders out there. Some of my close friends trade harmonics and that is why I made an Harmonic Indicator to make it easy for them to spot those patterns. They take the trade at key support and resistance levels often using indicators to detect reversal signals. 
 


I sometimes use Harmonic
You can see the success rate patterns
Best pattern bat

 
Arda Kaya:
Some of the traders I know trade harmonic patterns. I know some traders who are succesful trading these systems. I would like to know what your experience is with Harmonic trading
As to MT4 so I think ZUP indicator may be the best (and free one).
 
For me i dont really trust in patterns... :D
 
For you best of luck, i dont say that this will not good one, but for me this is not useful, may be im not following better
 
this was entirely new term for me!!
 

Forum on trading, automated trading systems and testing trading strategies

Something Interesting in Financial Video November 2014

Sergey Golubev, 2014.11.27 10:23

Suri Duddella, Webinar: The Success and Failure of Chart Patterns



Suri Duddella, 19+ years full-time Futures/Equities/Options Trader. Patterns based Algorithmic Trading. Author -- "Trade Chart Patterns Like The Pros" book.

  • Chart Pattern Modeling
  • Essential pattern structure components and analysis
  • Practical statistics of patterns success and failures
  • Examples of many patterns

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A chart pattern is a distinct formation on a stock chart that creates a trading signal, or a sign of future price movements. Chartists use these patterns to identify current trends and trend reversals and to trigger buy and sell signals.



Identifying chart patterns is simply a system for predicting stock market trends and turns! Well, a trend is merely an indicator of an imbalance in the supply and demand. These changes can usually be seen by market action through changes in price. These price changes often form meaningful chart patterns that can act as signals in trying to determine possible future trend developments. Research has proven that some patterns have high forecasting probabilities. These patterns include: The Cup & Handle, Flat Base, Ascending and Descending Triangles, Parabolic Curves, Symmetrical Triangles, Wedges, Flags and Pennants, Channels and the Head and Shoulders Patterns.



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