Gartley pattern scanner forex peace

So this led me to further research on stop loss, entries, and exits. If you Google that long enough, forex trading websites would start appearing on your monitor. I was immediately drawn to the fanciful charts and colorful indicators that beautify my screens.

This beats crunching numbers and financial statements. In the matter of days, I find myself drawn to trading more and more. It became my passion whereby I was spending more than 10 hours a day in front of the screen. All I needed was: 2 Risk management And it could be found on trading forums, for free! Why would I want to invest in a stock for years when I can buy and sell currencies in minutes! Easy money is ahead of me, all I need to do is click my mouse.

The journey The following series of events occurred while I was studying in university. It was on Babypips where I was first exposed to a trading strategy. I was looking for anything interesting and chance upon a thread teaching new traders like me how to trade.

The thread owner had a huge following and traders were worshiping him like a Demi-god. Bollinger Band My first trading strategy was using Bollinger bands to buy low and sell high, and take profit at the opposite end of the bands. On hindsight, it looked something like this… I thought this was the Holy Grail! Every chart that was posted made money. But it was only after I traded it myself did I realize that there was more than meets the eye.

I traded this for 6 months and lost money. Sounds familiar? This then led me to trade raw price itself, the price action world. Reason being there are so many trading gurus out there teaching this method and they all have a huge following.

I was an ambitious naive trader who wanted to make millions of dollars. Thus, another trading strategy I was trading concurrently was harmonic patterns. I thought to myself that the more complex a strategy is, the more powerful it will be. How silly I was. In essence, harmonic patterns are drawn by using the confluence of Fibonacci ratios and extensions.

They have a few variations of harmonic patterns, like Gartley, Bat, Crab etc. Personally, I find harmonic patterns to be the most beautiful thing on my charts. But I was in this business to make money and not draw beautiful patterns. And the reality was that I was a losing trader despite learning so many trading strategies.

From indicators to raw price action to harmonic patterns. Just name it, I probably would have tried it. I mean, who would continue trading after spending thousands of hours at it only to lose more money than he started. But the stubborn me refuse to give up, always believing that I am one step closer each day. I graduated with first-class honors but failed at trading.

So it is true that even if you have a degree, you may not be a profitable trader. This had to be my darkest days in trading when the statistics stared right in my face. What should I do? Fighting on When I graduated from university I knew there was only one career path for me, proprietary trading. During one of the interviews, the interviewer made a statement that hit me hard.

That was a wake-up call for me. I knew I had to let it go. Shortly after I was accepted into their proprietary trading firm, my journey to professional trading began. I first started out scalping the futures market and doing arbitrage across inter-related markets. I had to do something about it before the fire in me dies out… The reflection Despite trying out so many trading strategies and none seems to work, there were important lessons behind it that would make me the trader I am.

And that I would like to share with you. This is solely my opinion and I could very well be wrong. Indicators Most indicators lag the market so it is difficult to enter at a good price. By the time the indicator has confirmed you would probably miss a chunk of the move. I am including it so you can see the signal. I personally missed this trade just as I missed the first. Once I was sleeping and once I was already gone for the day.

I just missed both trades by a short time. One again, there is nothing that can be done since I am not available or free to trade all the time at this point. The downward arrow is pointing at the bug red bar where it dropped down and hit my stop losses which were actually much closer than indicated by the signal on the chart. This was a good move because it dropped down far enough that it would have hit the stop loss at that point as well.

As you can see, it hit the first profit target. I am looking forward to see what it does tonight. I moved my stops to keep nice profits on this trade if it starts to move back upwards. However, I think my decision not to chase the trade and being content with my one position was the correct decision even though the trade was a winner. Results for this trade: Position 1: Entry 2. It is up nicely this evening, not quite to profit target one yet.

I have raised my stop loss to just above break-even. So, regardless of what happens next, this trade will at least have three small winners and if all goes right, three bigger winners. Lets see what happens overnight. I was thinking about whether or not I wanted to hold it over the weekend and was thinking about my other open trade. Everything looked good for an entry but I procrastinated on the entry.

I decided to come back and check in a little bit. When I did, it had already moved a little and I thought to wait a little more and then it moved more. This is a classic case of hesitating for no reason. The trade quickly moved to hit its first profit target. I missed out on a good trade for no reason.

Perhaps I was already in weekend mode. I need to stay focused until the game is actually over. Lessons Learned 2: Be patient. I gave the trade time and room to work. I did not move my stops too close and I have nice profits on this trade. It has hit the first two profit targets and is moving well towards the second profit target.

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A common stop level would be behind the X-point. Conservative traders may look for additional confirmation. Gartley Patterns can be bearish and bullish. Depends on which timeframe you want to trade in, the gartley indicator will give you the buy or sell signal when the it spots a gartley pattern.

As you can see on the chart above that a bullish gartley pattern signal was generated by the blue arrow pointing up. And you can see how price is not moving up after that buy signal was generated. If you cannot see on the 4 hour chart then try the daily chart.

Dit behels basies die nagaan van die herhaalbaarheid of reproduceerbaarheid. Ons verskaf hierdie studie om jou forex en aandeleverhandeling met die grafiekpatrone te verbeter. Ons het die Optimum Chart gebruik om hierdie patroon te toets. Die gebruikerskoppelvlak tussen Meta Trader-weergawe en Optimum Chart-weergawe is egter anders.

In elk geval, beide weergawes gebruik dieselfde patroonopsporingsalgoritme. Dus, beide weergawes is ewe kragtig. Die Gartley-patroon in hierdie studie het die volgende struktuur: N: 3, C0: 0. Hier is 'n paar punte om op te let wanneer jy handel dryf met die grafiekpatrone.

Gaan en Gryp dit om wins te maak.