Harmonic Trading: Profiting from the Natural Order of the Financial Markets, Volume 1

Mr Carney is such a legend. I saw some of my friends making money with Harmonics and after a few years I decided to buy all of his books. I let them sit for 8 months before reading them because I was intimidated by them. I thought they would be very difficult. I read this book in 2 days, got a harmonic cheat sheet, and I was off and running right away with Harmonics. I am not saying I am any good. But it is not as difficult as I had thought it was. It's basically just a different way to draw a fib. I don't think this is a standalone trading system today (2024) this is more of a confluence system. The harmonics work much better if they are very tight to the ratios, especially B point. If you are stretching them on and throwing them on anything you won't find much success. Also you should have a background in Price action trading before messing with an esoteric systems. But overall I am upset that I waited so long to get in to this. It's great stuff if used correctly.

I have studied the markets since I was very young and have always sought out the most effective ways to trade. I was so relieved to find such a comprehensive and effective system without the large areas of gray, guesswork, and left to interpretation concepts I've encountered in other systems. I started with the free book on the website and then had to continue on to this one. With this book I learned the patterns and am able to identify them. Then I used the Harmonic Analyzer software to supplement identification and then compared what I had learned to the software results. The book has given me the confidence and certainty in my ability to identify and trade patterns successfully. I am already seeing improvement in my trading and am excited to apply the next book as well.

Must have! This book provides an information on AB=CD, Gartley, Bat, Crab, and Butterfly patterns not covered in his other books. I really appreciated the time was dedicated to the book. It is very detailed. Charts are very big and easy to read and understand. My favorite part of this book is a lot of explanation and examples. Scott did not missed anything. You need to buy "Harmonic Trading volume 1" and "Harmonic Trading" also for the complete patterns. They are very useful. Scott gave the citation to his letters with target. This books are the most detailed on how Fibonacci numbers really can work for you! I also like a lot of very recent examples! I liked the chapter on pattern violations.

Until purchasing and studying this publication I really had not heard much about Harmonic Trading. This particular publication is probably the only treatment of the subject matter in this way. A background in timing and trading in the market using Fibonacci analysis applied to price chart patterns is quite helpful. This volume, Volume 1 is well written and eminently readable and a worthwhile addition to any traders/investors library. Many of the price chart patterns are common knowledge in certain areas of the trading community.

Good ideas. Good concept. Highly useful for trading. BUT! It is horribly written! The author needs to explain things better. I am giving it three stars because of the bad explanations. Otherwise, it would have been five stars.

Let me start of by saying that there are many ways to interpret a chart. Harmonic Pattern is no different. This book is a good start for anyone who is interested in learning about Harmonic Patterns and how they are formed in any market, and in any time frame with the help of Fibonacci Retracement ratios given to us in each individual pattern. This book will teach you how to identify potential patterns that may appear in charts. TRADING MARKETS REQUIRE MORE, than just Harmonic Patterns but its a SOLID Start.

Amazing book. The concepts are really practical however you have to practice drawing the patterns on real chat. Only then you will actually end up usng this book before actually taking the trades. Keep on drawing those patterns. Cant wait to Dive into the second book which amazon has messed it contents up.

This theory seems pretty interesting but the problem is you're going to need their software to execute it. The author has a lot of heart in what he has written and I respect that. But I can not respect the fact that there is no way to calculate, or perform this type of work on any trading platform unless you buy his software. I don't have a problem with the author selling software, my problem comes from me not being able to try this theory without his software. If you read this book keep in mind that you may need to spend $800 for the Basic Harmonic Analyzer or $1500 for the Harmonic Analyzer pro (the pro edition requires ESignal). Oh, yeah there is a free trial but you have to pay a fee for the free trail. For the Harmonic Analyzer Basic the free trail is $44.95 and the Pro edition free trail fee is $59.95. You are not learning to fish with this theory. It's more like you are the fish and the theory is the parasite. It's a no go sir.

This is a well written, easy to follow and well presented book and the charts are easy to read, too. If you are interested in trading the Gartley pattern then this book could help you make sense of it all. The only criticism I have is that Scott's rules are too strict when describing the patterns and I think you need to be a bit more relaxed about them when trading in the "real world."

Gute Erklräung der Harmonic Pattern. Aber das war es dann auch schon. Mehr bringt der Band 2. Recht teures Buch

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People will always want reason for why things happen, Fibonacci ratios are somewhat similar to astrology in their offering of that reason. The whole book boils down to very subjective patterns which only have any validity when enough people "follow the stars" to turn the patterns into self-fulfilling prophecies. I found myself laughing at how often the author almost childishly makes statements along the lines of "this is concept x that I originally discovered and they copied my work". During the introduction he writes "Essentially, I have been trading harmonic patterns longer than anyone. Period. End of story. How can I say this?" - The truth is he can't, Fibonacci trading has been around for longer than this authors years and simply giving it a different name doesn't mean its a new thing. I imagine if the author sells enough books and the crowds continue to follow reading star signs in the markets then in some cases the patterns may continue to appear but it's definitely not a science, no matter how hard authors of this type try to present it as one. Hugely disappointing overall.

I found the Harmonic Trading Book to be an interesting approach to building on skills previously leaned. It is well written and concise. however, it can be challenging for Traders who are new to Forex.