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Harmonic Trading, Volume One: Profiting from the Natural Order of the Financial Markets
- By Scott M. Carney
- Published Apr 12, 2010 by FT Press.
- Copyright 2010
- Dimensions: 8-1/2 X 10-7/8
- Pages: 288
- Edition: 1st
- Book
- ISBN-10: 0-13-705150-6
- ISBN-13: 978-0-13-705150-2
- eBook (Adobe DRM)
- ISBN-10: 0-13-138495-3
- ISBN-13: 978-0-13-138495-8
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Product Author Bios
Scott Carney, President and Founder of HarmonicTrader.com, has defined a system of price pattern recognition and Fibonacci measurement techniques that comprise the Harmonic Trading approach. He has named and defined harmonic patterns such as the Bat pattern, the ideal Gartley pattern, and the Crab pattern. He is the author of three books: The Harmonic Trader (1999), Harmonic Trading of the Financial Markets: Volume One (2004), and Harmonic Trading of the Financial Markets: Volume Two (2007). In 2005, Carney joined A.I.G. Financial Advisors as a Registered Investment Advisor. He has since left A.I.G. Financial Advisors after two years to start his own firm. In addition, Carney is a full member of the Market Technicians Association (www.mta.org) and the American Association of Professional Technical Analysts (www.aapta.us). He has been a regular columnist on several well-known websites, such as StockCharts.com, TradingMarkets.com, and eSignal.com. Carney is a featured guest on CNNfn, and he presents seminars nationally.
The Definitive Introduction to Harmonic Trading--By the Originator of This Approach, Scott Carney!
“I have always found it fascinating that, in the field of securities analysis, so few important gains have been made in the body of knowledge since the 1920s and 1930s. There are a small number of modern-day pioneers among us who must be sought out. Scott Carney is one of those pioneers who has devoted himself to the task of uncovering the hidden logic in the movements of the markets. Harmonic Trading: Volume 1 provides a system of critical decision-making based on the natural order of life, which allows investors to replace emotions and guesswork with logic and symmetry so necessary to becoming a successful investor.”
-- PAUL DESMOND, President of Lowry Research Corporation
“I am well aware of the author’s dedication and degree of excellence in his work. Scott has not only thoroughly researched and covered the subject well, he has taken that most important step of showing you how to use these tools and apply them to your trading and investing. I currently oversee the management of more than $3 billion in assets using a technical model. I know firsthand that a trading methodology that does not have buy, sell, and trade-up rules will never be successful. Every effort needs to be made to make the process free of subjectivity. Harmonic Trading will help you organize your trading and keep you in sync with the markets. No one has done this better than Scott.”
--GREG MORRIS, Chief Technical Analyst, Stadion Money Management, and author of Candlestick Charting Explained and The Complete Guide to Market Breadth Indicators
Harmonic Trading creator Scott Carney unveils the entire methodology to turn patterns into profits. These strategies consistently identify the price levels and market turning points that reveal the natural order within the chaos of the financial markets. Analogous to the predictable behavior of many of life’s natural processes, Harmonic Trading examines similar relationships within the financial markets to define profitable opportunities in an unprecedented manner. Carney introduces new discoveries such as the Bat pattern, Alternate AB=CD structures, the 0.886 retracement, and more. These strategies are entirely new to the trading community, and they represent a profound advancement beyond all other Fibonacci methodologies!
After you’ve discovered how to identify harmonic patterns, Carney presents a complete methodology for applying them in trade execution and handling them throughout the entire trade management process. From savage bear to rampaging bull, Harmonic Trading can be employed in all markets--equities, currencies, commodities, and foreign markets--for both short- and long-term timeframes.
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3 of 3 people found the following review helpful
Solid Middle of the road Approach, By
This review is from: Harmonic Trading, Volume One: Profiting from the Natural Order of the Financial Markets (Paperback)
Customer review from the Amazon Vine™ Program (What's this?)
This book is aimed at seasoned technical traders who are already comfortable with historical Fibonacci patterns and would benefit from even more advanced ideas as inspiration. Like any book on the subject, this isn't a how-to introduction and is best served as a field reference guide.Carney showcases charts such as the BAT Butterfly, Crab, and Gatley with large clear graphs and a short blurb which tends to be informative and not too dry. The book layout is a bit inefficient, to the extent that there are often huge white spaces; I like the 1 chart per page idea, but it might have been better to make the book more of a square shape. The graphs are clear, but there can occasionally be small errors. It is unlikely that this book will change the investment fortunes of anyone because successful PnL is multifaceted. But supply and demand and ultimately support and resistant levels can play a part and if visualizing helps - it can be a useful tool. To casual... Read more
4 of 5 people found the following review helpful
Carney demystifies ABC patterns, By Defcon (Kirkland, WA USA) - See all my reviews
Amazon Verified Purchase(What's this?)
This review is from: Harmonic Trading, Volume One: Profiting from the Natural Order of the Financial Markets (Paperback)
A lot has been written and taught to traders about ABC, Gartley, Elliott Wave, and other patterns. Scott Carney develops robust definitions, rules, methods, and applications that seem to coherently bring this broad and often confusing subject area to clarity. I found his books enlightening and helpful. I was displeased by the number of mislabeled charts and typos in Volume 1 and found Volume 2 to be even more prolific in errors. This is too bad and preventable by the author taking time to adequately review his works and seek peer review before sending manuscripts to the publisher. Should the prospective reader want to better his/her understanding of harmonic patterns in trading, this book will help. I urge the trader to read both volumes, however, since the second pulls the information in the first volume together very well and presents some new and very interesting twists and applications.
10 of 14 people found the following review helpful
Harmonic Technical Patterns, By
This review is from: Harmonic Trading, Volume One: Profiting from the Natural Order of the Financial Markets (Paperback)
Customer review from the Amazon Vine™ Program (What's this?)
This book was written to clarify and specifically define the chart patterns used in the Harmonic Trading methodology. These chart patterns use Fibonacci analysis to find price structures that could signal reversals of trends. The author says that these patterns require active management like all trading.The trader must take entries at the reversal confirmation and stop losses if the pattern reversal is not profitable but reverses and continues the trend. This book is an introduction to the Harmonic Trading methodology with pages of chart after chart of real life examples of the Bat, Crab, Butterfly, AB=CD pattern, and the Gartley. The patterns are measured precisely using Fibonacci alignments. This book is a counter trend trading book using price action only to determine technical buy points at possible reversals. I have never been a Fibonacci trader and know of no one who has had success with its patterns. I myself am a trend trader and this book did not convince me to change. I...
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Online Sample Chapter
Introduction to Harmonic Trading: Profiting from the Natural Order of the Financial Markets
Sample Pages
Download the sample pages (includes Chapter 1 and Index)
Table of Contents
Introduction 1
Chapter 1 Harmonic Trading 7
Chapter 2 Fibonacci Numbers 11
Chapter 3 Pattern Identification 35
Chapter 4 The AB=CD Pattern 41
Chapter 5 The Bat Pattern 71
Chapter 6 The Gartley Pattern 97
Chapter 7 The Crab Pattern 121
Chapter 8 The Ideal Butterfly Pattern 149
Chapter 9 Trade Execution 171
Chapter 10 Price Action in the Potential Reversal Zone (PRZ) 185
Chapter 11 The Harmonic Trade Management System 203
Chapter 12 Pattern Violations 233
Conclusion 251
Bibliography 253
Index 255
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