In this thread we want only discuss the Harmonic Elliott Wave Theory (HEW)
Please post your thoughts, post your HEW charts and projection sheets! We love to learn from it!!
Since 2011 I'm trading a little around. firstly i started with robots....it all doesn't worked, well now I know why. I tried to program so called "proven systems" and again it didn't really worked for a long time, even not in backtesting!! So I decided to look further. Then I saw the 4 Hour MACD Trading system. This system is actually a trading system that is trying to following the market Rhythm. The system is in a threath here on FF very well described and after a few years still active. Well after +/- year learning and trading this system, I must conclude that I'm still around the BE point. Somewhere I could never filter the right MACD signals out of the system and that is the only problem with this system (in my case). To often I take the wrong ones what is eating my winning trades. To solve this I was searched for a market rhythm "thing" that could help me filter out the triggers the system is given. ...and came across Classic Elliott Wave (CEW) and the Harmonic Elliott Wave (HEW). Well both are couting the waves, tring to follow the Market Rhythm. But the big difference in both is that with HEW we can have (in my opinion) a better edge of what the market can do and is doing.
With that we can (in my opinion):
-have more an idea were to put my SL and my TP
-better judge the trade signals in a trading system
-We can determine turningpoints/ereas
-can build my trades arround a wave (from beginning to the end) That means that the first trade (in the beginning of the wave) is in the right direction. I can cover with that trade all the other trades in that wave! So if somewhere the wave construction is breaking.... I still can get out without problems.
-use the HEW as price indicator to other indicators you like or trading system as I do.
That all was deciding me to learn the HEW and try to become a master on it.
Well I just beginning to absorb the HEW, so I really have to learn a lot and hopefully I can manage it! So that's why I decided to create a new threat specially for HEW.
Please Join the club, have a positive and open mind and then this threath and our trading will definitely a success!!
Have a very informative stay here!!
Best regards,
HappyMe
ps: in this threat I will always try to combine the HEW with the 4H MACD system. And I only trade the EURUSD pair.
Ofcourse it's up to you what and if you will combine...in all situations I will welcome you
Best regards,
HappyMe
Please post your thoughts, post your HEW charts and projection sheets! We love to learn from it!!
Since 2011 I'm trading a little around. firstly i started with robots....it all doesn't worked, well now I know why. I tried to program so called "proven systems" and again it didn't really worked for a long time, even not in backtesting!! So I decided to look further. Then I saw the 4 Hour MACD Trading system. This system is actually a trading system that is trying to following the market Rhythm. The system is in a threath here on FF very well described and after a few years still active. Well after +/- year learning and trading this system, I must conclude that I'm still around the BE point. Somewhere I could never filter the right MACD signals out of the system and that is the only problem with this system (in my case). To often I take the wrong ones what is eating my winning trades. To solve this I was searched for a market rhythm "thing" that could help me filter out the triggers the system is given. ...and came across Classic Elliott Wave (CEW) and the Harmonic Elliott Wave (HEW). Well both are couting the waves, tring to follow the Market Rhythm. But the big difference in both is that with HEW we can have (in my opinion) a better edge of what the market can do and is doing.
With that we can (in my opinion):
-have more an idea were to put my SL and my TP
-better judge the trade signals in a trading system
-We can determine turningpoints/ereas
-can build my trades arround a wave (from beginning to the end) That means that the first trade (in the beginning of the wave) is in the right direction. I can cover with that trade all the other trades in that wave! So if somewhere the wave construction is breaking.... I still can get out without problems.
-use the HEW as price indicator to other indicators you like or trading system as I do.
That all was deciding me to learn the HEW and try to become a master on it.
Well I just beginning to absorb the HEW, so I really have to learn a lot and hopefully I can manage it! So that's why I decided to create a new threat specially for HEW.
Please Join the club, have a positive and open mind and then this threath and our trading will definitely a success!!
Have a very informative stay here!!
Best regards,
HappyMe
ps: in this threat I will always try to combine the HEW with the 4H MACD system. And I only trade the EURUSD pair.
Ofcourse it's up to you what and if you will combine...in all situations I will welcome you
Best regards,
HappyMe
You can manage risk, but you can't manage the return