Thank you for visiting and Welcome to excellent way to learn about Harmonic Trading. This site will be updated regularly and will focus on presenting harmonic trading and harmonic patterns together with practical tips / tricks / hints to trade patterns like Gartley, Bat, Butterfly, Crab and 121 successfully. Lots of methods ilustrated with detailed exmaples. Your valuable comments will be added here or taken for further discussions on the TradingArsenal Forum . Note that from the TradingArsenal site you may download a test version of our korHarmonics - harmonic and price patterns recognition indicator (MT4 only). Examples are taken mainly from - powerful web based platform that scans and alerts you on the price patterns and harmonic trading opportunities (check for more info on AMP indicator and AMPmonitor).

Wednesday, April 11, 2012

my forex mentor told me - and it works

My forex mentor once told me: "It's not important when and where you enter, it's important what you do after".
His approach was to ignore the entry and focus on trade management process, having clear, objective rules to move SL, move to BE, close the trade or revert the position.

My approach as wannabe harmonic trader was always different. I was always looking for a perfect entry, so to be able to enter with the lowest possible risk, the lowest SL and higher profit potentials.

I struggled to understand my mentor's words for a long time. Finally found my forex Grail by applying both approaches, combined.

Why i am saying this now...
Yesterday I put this info about Long opportunity on AUDUSD 121 pattern.

Pattern failed, no doubts. Serveral traders decided to trade the pattern. Each of us ended up with very different results, some lost $$$, some won $$$. Anyway, couple of us ended up with equity like this and/or similar to this:
Conclusion: Trade management and money management rules are key in harmonic trading.


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