Page 6 of 8 FirstFirst ... 45678 LastLast
Results 51 to 60 of 72
Like Tree4Likes

Thread: Harmonic Journal

  1. #51
    Senior Member
    Join Date
    Oct 2011
    Location
    Italia
    Posts
    273
    Hi drapi, i must quote kor , you're really good in tech analisys and entry point , also you have good tp levels , do you use trailing sl? or when do you move to BE (if you do)? or just let the pattern running till tp is reached or sl get it...?

  2. #52
    Senior Member
    Join Date
    Jan 2012
    Posts
    166
    Hey kidrock, Iam not using trailing stop, I move my SL on BE when price reaches 38.2 retracement of whole pattern

  3. #53
    Senior Member
    Join Date
    Oct 2011
    Location
    Italia
    Posts
    273
    so basically at tp1 right? generally b point is on that level... if i remember correctly...

  4. #54
    Senior Member
    Join Date
    Jan 2012
    Posts
    166
    B point is where it is, it would give you different levels on different cases because some of pattern are more extendet than the others,
    but 38.2 ret of whole pattern is constant, check image below, B point is marked on red and you want to set BE on 38.2 ret level (yellow horizontal line)



    I hope it helps

  5. #55
    Senior Member
    Join Date
    Jan 2012
    Posts
    166
    Hi!
    after another long break in posting caused by couple of nasty trades (will post it later to discuss) which are still alive heres little update:

    bullish ABCD on USDCAD H4

  6. #56
    Wizard
    Join Date
    Oct 2011
    Location
    A, A
    Posts
    2,573
    @drapi. Again, very good entry on this USACAD. When everybody is scarred - this is the best place to enter :-)

    Show us the nasty ones. What did you do and why?

  7. #57
    Senior Member
    Join Date
    Jan 2012
    Posts
    166
    @kor4x i was gonna post after closing position but this can last so...
    I currently sitting on 4 short trades on GBPUSD since 18 April

    Now what i did and why?

    1s trade: it was emerging Gartley on H1, had all confirmations = enter at AB=CD (had feeling that it will go to 1.27AB)
    2nd trade: another confirmation on H1, entry on 1.27AB (was expecting further move so its ok)
    3rd trade: completed Butterfly on H4, with confirmation= entry on 1.27XA (further extend of formation..hmm... still ok)
    4th trade: spotted big ABCD on H4, after confirmations entry near AB=CD (blue one) (had to average loses, little 'nothingcare' attitude)

    Now what i plan to do?
    I wanted to closed 1,2 and 3rd position on 38.2 retrace and last one with good entry price set on BE but price bounced from this level when i was sleeping (it was sunday night), so basiclly I am now still waiting...

    @Kor4x i saw that you also spotted this GBPUSD butterfly, did you traded it? and whit what result?

  8. #58
    Wizard
    Join Date
    Oct 2011
    Location
    A, A
    Posts
    2,573
    Again, you have very good entries, drapi. With such entries consider maybe trading with SL and benefit from small SL, big TP potential in harmonic trading.

    You very pretty unlucky with these 4 entries that chart ignored.

    This was pretty "brave" to keep 4 shorts when price reached almost ext 2. You aim for a margin call? Hope not, and possible you trade with small % position sizes so you could wait.

    If in such situation, i think i would close the winning shorts earlier, without waiting for all 4 positions to be profitable. My priority is to limit the risk and control the equity curve shape.

    btw: do not remember why but i see now that i did not take this trade in the end.

  9. #59
    Senior Member
    Join Date
    Oct 2011
    Posts
    129
    Confirmations is a Killer isnt it drap?? if you look hard and long enough, you"ll always find something.

    also did you follow FIFO on your demo exits ??

  10. #60
    Senior Member
    Join Date
    Jan 2012
    Posts
    166
    Quote Originally Posted by kor4x
    With such entries consider maybe trading with SL and benefit from small SL, big TP potential in harmonic trading.
    well i prefer tight SL but in many cases formations are extending/transforming into another and often SL was only making troubles, but I will study my trade history and try to define some tigh SL strategy, have some ideas Kor?

    Quote Originally Posted by kor4x
    You aim for a margin call? Hope not, and possible you trade with small % position sizes so you could wait
    At highest point i had max 4% drawdown.

    I have closed all positions at retest of 38.2 because price found resistance, there will be probably retest of last high and maybe we can find there some gartley?
    overall score from all positions is like -1,5% of deposit

    Quote Originally Posted by trademonster
    Confirmations is a Killer isnt it drap?? if you look hard and long enough, you"ll always find something.
    well yeah, have to work on them to better filter formations

    Quote Originally Posted by trademonster
    also did you follow FIFO on your demo exits ??
    i dont know what you mean, when Iam obviously on wrong position like first 3 trades on this GBP i usually closed them at 38.2 ret of pattern no matter with what profit/lose

Page 6 of 8 FirstFirst ... 45678 LastLast

Similar Threads

  1. My Trading Journal
    By ziemo in forum Trading Journals
    Replies: 106
    Last Post: 06-03-2014, 10:48 AM
  2. My Journal - Market Geometry and advanced Fibonacci techniques
    By Lukasz Fijolek in forum Trading Journals
    Replies: 102
    Last Post: 10-12-2013, 01:29 PM
  3. Trading Journal - Advanced Technical Patterns
    By Luzonxzy in forum Trading Journals
    Replies: 246
    Last Post: 04-16-2013, 03:34 AM
  4. Replies: 1
    Last Post: 02-28-2012, 11:56 AM
  5. tools helping to keep a trading journal
    By kor4x in forum Indicators / Exepert Advisors
    Replies: 0
    Last Post: 02-28-2012, 11:36 AM

Tags for this Thread

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41