Hello, I'm Paul - and I trade forex markets as an individual trader. Let me tell you why and how I started with harmonic patterns in forex trading, and why I created this website.
When I first started trading, I was ...
Over five years ago, I started out the way a lot of traders begin - full of hope and confidence. Read a lot of books, attended courses, tuned into webinars, bookmarked websites.
I learned about all the usual technical analysis tools of the trade - candlestick charts, indicators, oscillators, moving averages, pivots, chart patterns, Bollinger bands, RSI, MACD, Stochastics, Commodity Channel Index etc.
These are the tools of the trade which the vast majority of traders learn and use. I tried all of them at one time or another.
Then I set out to realise my dream to make a fortune.
Except - I didn't. Instead, I became ...
The early days were indeed frustrating. After some time and many sleepless nights, I was still trading forex inconsistently - and, rather annoyingly - not profitably. During the first year, I had to start all over again after wiping out my trading account. It was a time to re-think my trading career.
Now, like me, you've also probably heard that over 95% of traders (the crowd) fail to survive the first few years.
So if you're using the same trading methods, tools and techniques as the losing crowd - and losing ... ...let's see - how does that saying go? "If it looks like a duck and sounds like a duck...". I think you get my drift.
I needed an edge. So I set out to find out what the other 5% were doing differently.
After a while, I came across two key concepts. A method based on harmonic patterns and Fibonacci ratios with proven success rates - and an approach or mindset based on trading the probabilities over a series of trades.
At first I didn't get it - I dismissed harmonics as some kind of unnecessarily complicated pseudo-science, and continued struggling with the old methods for a while. But, later, for some reason, I took another look - and this time it clicked. I got it.
It was like someone switched the light on - and I was now most definitely ...
Harmonics were a revelation to me when I first came across them.
Here was a technical analysis method for trading markets that was discovered over 75 years ago. It had been a closely guarded method among professional traders since its discovery - until recent years.
Based on Fibonacci ratios and the same principles as are many things in nature. Fractals, chaos theory, recurring patterns from seemingly random data. Harmonics acknowledges uncertainty in the markets - and uses probability to deal with it.
Systematic tests and 75 years of experience have shown that harmonic patterns are over 70% successful in identifying price reversals, revealing when probability is on the side of the trader. It's that and the consistent application of the method, that gives you an edge.
Since then my trading has been very...
Harmonic patterns identify high probability trades, with well defined trade entries and exits. It's a consistent trading strategy that produces consistent results.
Now, I'm not saying I win every trade. Of course I have losing trades. But I don't get fazed by them, even a string of them - because I know the odds are in my favour in the long run.
In my forex trading, I use the harmonic trading methods and techniques taught by the top harmonic trading experts in the field.
In particular, Scott Carney and Chris Hall (who initially introduced me to harmonics) as mentors, continue to help me a lot directly and indirectly. And I am more than delighted to acknowledge and recognise their expertise and achievements in harmonic trading here.
Harmonics are not hard to learn - but there's a lot to remember. So I typed up all my notes - then shared them with a few friends - and they found them useful. Now I'm sharing them on this website with hundreds.
Just writing all this stuff down in my own words helped me tremendously - that's how I learn stuff and make sure I really know it. That was my initial motivation for the website. But also - these ideas are worth sharing.
Like all trading methods, to trade harmonics successfully takes determination and persistence. And of course - the old adage, "practice makes perfect", is appropriate. Once you have mastered the methods you'll never look back - of that I am very confident.
Some people may not "get it" at first (like me in the early days) - and so may not be willing to put in the time and investment to learn or stick with it. For those, I can only encourage you to take another look - like I did.
I provide all the information here free, but you may find yourself "buying into" the ideas and concepts around harmonic trading methods, after you've checked them out on this site.
I wish you every success with your trading.
These are good pages to get started on.
I get asked that a lot. I created it by myself. It was surprisingly easy - but only after I had come across this outstanding website company SBI.
They have a great set of methods and tools to help individuals, like you and me, create effective websites. I just followed the steps in their online video guide. More details here on How I Built This Website.
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