Guide to Precision Harmonic Pattern Trading

Subtitle: New Approach to Apply the Patterns for the Financial Trading

Author: Young Ho Seo

Total Page: 97 pages

About the EBook

Harmonic Pattern trading uses the direct pattern recognition from the price chart to predict the potential turning point of the financial market. Although the history of the harmonic pattern goes back to the Gartley’s book “Profits in the Stock Market” in 1935, Harmonic Pattern trading became popular in last few decades. In comparison to many contemporary predictive techniques, there are far less literature available to study this technique in several different scientific angles. Most of harmonic pattern trader focuses on the visual aspect of the pattern keeping very small attention on the precision aspect. In this book, we want to introduce the brand new precision concept, Pattern Completion Interval, for harmonic pattern trading. In the first few chapter of this book, we will illustrate the concept and the operating mechanism behind the Pattern Completion Interval. After that, we will focus on how to manage your order and risk with the Pattern Completion Interval. We will illustrate how to apply this precision concept for both market order and pending order setup for your practical trading.

Computerised Research with Patterns in Financial Market

I have to say millions of thanks to people worked with tradable patterns for the financial market before me including R. N. Elliott, H.M. Gartley, L. Peasavento, S. Shapiro and S. M. Carney. This book was published after the intensive computerized research with tradable patterns in the financial market. Now, the new concept of Pattern Completion Interval is used and appreciated by many traders. If you are using this book to train other forex and stock traders, I am happy with it but please do not forget to credit my work and this book. In addition, if you are from hedge fund or fund Management Company and you need someone to carry on the computerized research about the financial market data in the similar topics to this book, please do not hesitate to contact me on: admin@algotrading-investment.com for future research and development.

Table of Contents

  • 1. Introduction to Harmonic Pattern 6
  • 2. The Concept behind the Pattern Completion Interval 13
  • 3. Pattern Completion Interval for Harmonic Pattern 21
  • 4. Trading Setup with Pattern Completion Interval 28
  • 5. Pattern Completion Interval versus Potential Reversal Zone 37
  • 6. Managing Reward/Risk Ratio with Real Time Market Data 42
  • 7. Insignificant Turning Point, Local Turning Point and Global Turning Point 53
  • 8. Market Order and Risk Management 57
  • 9. Pending Order and Risk Management 63
  • 10. Practical Trading Management 72
  • 10.1 Various Risks in Trading and Investment 72
  • 10.2 Position Sizing Techniques 78
  • 10.3 Reward/Risk Ratio in your trading 82
  • 10.4 Breakeven Success Rate 83
  • 10.5 Know your profit goal before your trading 85
  • 10.6 Compounding Profits 89
  • 10.7 Trading Performance and Cost Metrics 89
  • 11. References 93

Guide to Precision Harmonic Pattern Trading 640

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