Welcome to NexusFi: the best trading community on the planet, with over 150,000 members Sign Up Now for Free
Genuine reviews from real traders, not fake reviews from stealth vendors
Quality education from leading professional traders
We are a friendly, helpful, and positive community
We do not tolerate rude behavior, trolling, or vendors advertising in posts
We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community. It's free for basic access, or support us by becoming an Elite Member -- see if you qualify for a discount below.
-- Big Mike, Site Administrator
(If you already have an account, login at the top of the page)
Over the years traders have struggled with one big issue, that have promised them milk and honey and a free ticket to the financial paradise.
That is to find the Holy Grail of trading which is of course THE method that can guarantee it all. Effortless trading with maximum profit. Unfortunately there is not any Holy Grail out there and there is never going to be one. If one's to come to the true Holy Grail, one has to stop looking for it outside of themselves, but that's completely another story.
One of the main reasons there's no Holy Grail out there is because, we're constantly moving towards a future that's unknown to us. What we're trying to do is to predict this future based on the past. Because the future is nothing else then an infinite amount of posibilities, makes the whole prediction thing impossible to get 100%. That's why we try to master this probability game throughout our trading lives.
So, STOP looking for the ultimate indicator, method that's going to give you the (minus)-lag and predict the whole thing for you.
You're not going to find it because there isn't any.
I have a background as an Elliott wave trader. I've been counting waves on and off. In the beginning it was pretty amazing. Suddenly one could see the light. You were able to "predict" the future, and that was pretty amazing believe me!
After a while it's getting confusing. There's a well known fact that hardly the pro's accept. Put ten elliottician in a room, give them a chart, and they're all going to give you ten different outcomes.
Now, with that said, it doesn't mean that EWT is not a good tool. Remember every indicator, tool, method is nothing else then a tool. Imagine eating with a scissors, it could work out, but maybe one should use a scissors in it's proper context instead.
Because of the confusion that EWT gave me, I went on to discretionary trading, using nothing else then price action and trend lines, no rocket science here, the only thing you need is the ability of maintaining your focus, when all the things in the environment are in conflict.
Lately I found Larry
They say that when the student is ready then the master shows up. Ironically enough I've always thought that someone, somehow would show up in your life and you'd be learning from that person, and that would in a even more strange way happen when you'd become ready.
Today I've grown to understand that, fortunatelly is not about that! Imagine waiting for someone, feeling ready .....
I've had that book (Larry Pesavento - Fibonacci Ratios With Pattern Recognition) in my collection for 6 years. I gave it a try 3 year ago. I put it away, and it felt very, can't really explain the feeling, but it just didn't suit me somehow.
Recently I picked up again, and it was like the haven opened and I bathed in light. So much for the Chinese right (it's Chinese that saying "when the student is ready the master shows up")
You see how I interpret that. Everything is within our reach, it has been there and it's always going to be there. I guess is not about that old whitebeard zen master showing up in your life. It's about you waking up and starting to see things, and grab them. (The book was there for six years, but I still didn't see it). Anyway enough with filosify.
Why did I see the light?
Somehow the truth has always been hidden from us, at least in modern history. Before if one was trying to share it and to show it, they got burned or hanged. Today we don't do that anymore, at least in the western world, instead we ridiculize them and accuse them for being conspiratory.
We live in a square world. Our interpretations are based on what our five senses perceive to be true, and what they percieve to be true is based on the information we got programed in our subconscious mind.
We're never thought about the harmony in nature, about it's role on this planet. When we're thought about nature, it reflects to something green that ought to bee out there, but because of our bad behaviour we have become a threat to it.
I believe that's as far from reality as it can get, but that's another story. Back to harmony.
I must confess something here. Before I got into trading, and by that I mean advanced trading, I had never heard of Fibonacci and the golden ratio. Hell, we even wear the golden ratio on our bodys and we're sourounded by it constatnly and they never told us that in school.
But when you start to open your "eyes" (we're actually seeing with our brain) you start to "see" things that help you to understand a little bit better the mystery's of life. Fibonacci is one of them, because they're all over the place, and somehow has a divine stamp on it.
And because they everywhere it means that they're even in the markets. Remember trading is about avoiding looses. In order to do that you'll be needing a good money management strategy. Because there's no method out there that can predict the future, one can only assume that the past will repeat, and will then work with the probability that it will show up. Key here is RISK and REWARD.
Tell me something, how do you calculate your reward ahead of the action? It's only asumptions right? One can only hope that it will happen.
Harmonic trading does all that for you! It gives you a high probability reward, calculated ahead of the action, and it keeps your risk low as well because it's sacred geometry. The pyramids of Giza are based on sacred geometry.
So I'm asking myself, and you guys as well, if trading is about concetrating on risk, wouldn't that make you feel better on the emotionall level if you knew ahead that there lies a high probable trade in front of you that might work and give you x reward. Instead of killing yourself by putting on trades and wait for the right one to show up (the one that takes you above).
This way of trading is purely backwards. You know ahead where you could end, and you know as well how the road will look like. Makes life a hell of a lot easyer to enjoy.
I'm going to give an introduction to Harmonic Trading in the Traders Hide out section.
And I also want to ask you guys that know how to program this stuff to make a contribution and help us out so that we can all benefit from this wonderful tool.
George, I really appreciate you of starting a thread on harmonic patterns, actually all markets and Forex industry revoles around these patterns, but some one must have a good eye to look into these patterens and good hearing power to listen their wispers. Their wispers are really very good and nice. I am just giving one example from today. Today was a good day. We stat with two patterns , Bearish butterfly from and Bulish Batr, that is on its way to complete its Leg D. . Today when Market open , butterfly patterns going towards its C leg. When it was going to make C leg, then a small Bat pattern was also in its led D. So when market hits 1041.50 area, that was actually very good area for long. Because Bullish Bat pattern going to comlete its D leg their and Ready for unfold. and on the same time Bearish Butterfly completes its C Leg. So now we are in D leg of Bearish Butterfly. All happen on 15 Min Es Chart. Lets see what happen next????
Nicely said, George. I love reading this type of post, man it just makes everything 'click'. Stop the fighting against a perfect indicator and just allow nature to take its course, make trade decisions based on sound judgment and excellent money management, it is really all you need.
