29 Jun 12 - AUD/USD - H1 - Bearish Gartley Pattern - Possible Type 2 Reversal

I would consider this a nice trading week despite the uncertainty in the markets. Since this is a Friday on my side, I am more relaxed when it comes to trading, but nonetheless, since trading is one of the greatest interest in my life, I will still take the time to see what is developing. As I was going through the charts, I saw an interesting setup in AUD/USD which I thought would be informative to share it and to document itfor my own learning purposes.

In the case of this Bearish Gartley Pattern, what makes it interesting is that the pattern completed really early even before the minimum 0.382 Alternate Time Projection. In this case, even if there is a valid reversal, I will still stay by the side and not trigger any position as most early completions of patterns will usually not work out as expected. However, it does not mean that we totally ignore it as it may later present itself as a Type 2 Reversal which will be a short that I will be considering when the price action enters the Harmonic Time Window.

H1 - Primary

As I have previously mentioned in one of my posts, usually if a pattern completes before the RSI exits from the extreme area, there will be 2 likely outcomes:

1. First, I will expect that the price action will overspill and test the high of the Terminal Price Bar and may even exceed it a little while maintaining the structural validity of the pattern without exceeding the Stop Loss Limit of the pattern and thus making it a tradable pattern.
2. Second, the price action may simply move in the predominant trend and invalidate the pattern.

Therefore, in most cases where I see the pattern completing before the RSI's exit from the extreme area, I will usually give it more time to resolve itself and from there determine if it is a trade which I would like to take.

As seen in the attached chart, it seems that the scenario here belongs to the first outcome for now.

In addition, it is clearly evident from the chart that the pattern's completion was way too early and thus it was a clear warning to tell me to stay away from now.

H4 - Distal

What is interesting on the distal timeframe is that the RSI has previously completed a complex structure which is a good news for me as the complex structures will usually hint of a secondary RSI retest before the price action reverses. As such, it sorted of hinted to me of a possible Type 2 Reversal from here.

M15 - Proximate

Putting it all together, in the attached chart, there was another occurrence here which hinted to a possible Type 2 Reversal here too.

At the pattern's completion, there was a complex RSI structure which has yet to resolve itself. Since the RSI structure at the completion of the pattern was that of a complex one, I will be expecting a secondary retest here and wait for an opportunity to present itself later when the price action trades into the Harmonic Time Window in the presence of a valid trade executions signal

Good trading everyone. I will update again later as the day progresses.

Update: 30 Jun 12

Through the course of the day, the Bearish Gartley Pattern was later invalidated when the price action exceeded the Stop Loss Limit of the pattern.

Despite an invalidation of the Bearish Gartley pattern, there might be a possibility that the pattern may morph into a Bearish Crab Pattern. In this case, it highlights the importance of syncing the RSI completion with the pattern's completion. Therefore, when a pattern completes before a RSI validation, it will simply mean an overspill, a pattern invalidation or in this case a possible morphing as the Crab can have a B point at 0.618 which in the case of a Gartley, the 0.618 is the only exact B point alignment allowed.

In this example, it exemplifies the beauty of the approach where it allows me to respond accordingly in certain cases and be sure and confident when to take a trade and when not to take a trade.

Wishing all a great trading next week.

27 Jun 12 - GBP/USD - H1 - Bullish Gartley Pattern Type 1 Reversal

This is another trade which played out very nicely. I have only captured a small move on this pattern as it was late already and I have closed the trade on a accelerated trendline violation. Despite a simple RSI confirmation on this pair which hinted to a more substantial, I have decided not to take any risk as the trade management aspect of the approach requires us to manage the trade actively. Nonetheless there is a very good learning point in this setup which I will show where I took out the trade before my bedtime versus the active trade management aspect of it if I were to be awake and managing it.

H1 - Primary

Despite a long range bar at the Terminal Price Bar establishment, the price action stalled following the completion of the pattern and reversed. Note, at the point of reversal the RSI has yet to exit from the oversold area though and thus it is important to break it down into the shorter timeframe to confirm a trade execution.

After the trade execution, the RSI completed a simple confirmation setup which gave the trade a stronger structural setup which was great for the trade.

The setup sort of gave me a clue as to the future price action and that a more substantial move is probably going to present itself as the RSI completed an impulsive structure versus a complex structure which will point to a temporary short term reversal. This is the case for most cases but then again, there will be cases where price may just reverse for a while following an impulsive RSI structure though.

H4 - Distal

Going up a timeframe, it can be seen that this is probably a counter trend move which a more aggressive trade management will have to be employed.

The rationale behind this is that the price action has violated a rising trendline and that the price action has formed a new lower high which will warn us of a possible trend change.

M15 - Proximate

The basis of a trade execution in this case was simple. Despite a prior bullish engulfing pattern on the pattern's completion, I was hesitant to take the trade as the price was at the upper limits of the PRZ and entry was not as ideal. An opportunity presented itself later when the price action stabilized and confirmed the support with an exit from the oversold area.

If we were to zoom out, there was a nice additional simple RSI confirmation on top of the RSI impulsive structure which gave the trade a stronger structural setup.

The trade was triggered at 1.55533 with the stop loss at 1.55250, just slightly below the 1.0 XA stop loss limit of the pattern at 1.55376.


Trade Management

The trade was later squared off on an accelerated trendline violation as it was later at my side and I do not wish to take any risk in the trade. Another alternative was to set it to break even and let it know which I have decided against it since I was thinking of capturing the high profit potential segment of the reversal.

The trade was closed at 1.55695, gaining a small profit of 16.2 pips.

This is where another active trade management could be employed if I was not heading to bed. By the time the price action moved out of the PRZ, I would have set the trade to breakeven and manage it actively.

Since in this case the RS structure at the pattern's completion was an impulsive RSI structure, the approach in this case was to give the trade more time to assert itself. As seen in the attached chart, the price action moved on later to hit the target profits without violating the primary trendline nor did it hit the 0.382 trailer.

This would have been a nice trade if it was to be managed properly. Then again, in trading there will be plenty of opportunities and thus it is important to know how to attain a balance in life. I was okay when I saw the price action reversed nicely despite having only profited a small segment of it as I am totally confident that I will be profiting in the future and it is okay to miss out moves on certain days. So long as I am consistent in my trade execution and management, I will be seeing profits coming in and the market will always present us with opportunities so long as we give ourselves the chance.

The  trade will probably be taken out if I have allowed the third batch to run when the price action hit the 0.382 trailer.

Good trading everyone. :)

22 Jun 12 - USD/JPY - H1 - Bearish Crab Pattern Type 1 Reversal

In this post, this is an interesting trade as the setup prior to the completion of this pattern was a Bearish Gartley Pattern which was later invalidated only to morph into a valid Bearish Crab Pattern.

Despite the invalidation of the Bearish Gartley Pattern, there was a signal to go short on it though and that trade itself took a loss though. Since this is an interesting setup, I have decided to combine the Bearish Gartley Pattern trade which failed together with this Bearish Crab Pattern as I find this to be truly educational and that in trading, there will be hits and misses along the way and we will have to move on and trigger a trade when the setup defines an entry and not be afraid to take a trade even the previous one was a loss.


Bearish Gartley Pattern - Type 2 Reversal

In this earlier trade, I have triggered the trade on a Type 2 Reversal at around the 79.60 region for a short and the trade was later taken out at 79.85, which took a loss of 25 pips.

H1 - Primary

Following the completion of the pattern, the RSI completed a complex structure after approximately 4 candles and that was my initial trade validation.

There was a brief Type 1 Reversal but it was a trade which occurred when I was away from my computer and thus I stayed away only to trigger on a Type 2 Reversal.

In this case, there was price stabilization and the Japanese Candlestick patterns were also hinting a possible reversal which made me decided to take a short on this pair following the pattern's completion.

H4 - Distal

When it comes to the longer timeframe, in this case the distal timeframe, my only consideration for this trade was that the price action was near a resistance zone and thus it sort of supported me for a sell position.

M5 - Proximate

In this case, there was probably a margin of error in my trade execution as I was very confident (which was bad in this case) that I decided to find an entry on the M5 timeframe instead of my usual M15 timeframe.

The basis of a trade execution in this case was a RSI BAMM Confirmation with a resistance at a 0.886 xa retracement on a smaller move.

However, the trade was later taken out at a loss as the price action continued in the predominant trend.

The possible reason in the case of this trade failure was probably that the RSI formed a complex structure and it will create an expectation that the price action will be probably move back up and then experience a secondary retest of the RSI and setup an Impulse RSI structure.


Bearish Crab Pattern - Type 1 Reversal (Morphed from the earlier invalidated Bearish Gartley Pattern)

This is where the beauty of Harmonic Trading comes into play where certain invalidated patterns will move on to complete as another pattern and this is termed "Morphing" as Scott called it to be.

H1 - Primary


In the completion of the pattern in the primary timeframe, this is considered to be an ideal setup to me where the RSI is early and it comes prior to the pattern's completion. The reason behind this is that very frequently, if the pattern completes before the RSI exits from the extreme overbought or oversold area, there is a tendency of an overspill or even a chance of a pattern invalidation. This observation was through my trial and error experiences with the RSI and Harmonic Patterns and these 2 occurrences were recorded in my journal quite often. Therefore, it is important to put everything together on all the timeframes to gather as much technical information to execute a trade. In most cases, I will put more emphasis on the proximate timeframe since it is the leading timeframe and it will tend to be early.

In addition, what makes this pattern completion stronger in terms of a technical and structural signal was that there was a simple RSI divergence following the establishment of the Terminal Price Bar which occurred simultaneously with a sign of price stabilization in the form of a Harami which is an indication of a possible resistance. The candle following the Harami confirmed the signal though with a lower close.


H4 - Distal

As opposed to the earlier Bearish Gartley pattern, the distal timeframe for the Bearish Crab Pattern became quite significant as the RSI came into play this time round and offered a very strong technical condition in the form of a simple RSI Confirmation which was good enough for me. This could have been a shake-in move.

M15 - Proximate

The trade was triggered in the presence of a RSI BAMM Divergence completion at 80.345 with a Stop Loss at 80.98. It should be note though that the trade was only triggered on the second impulsive RSI structure which occurred after the the pattern completed. The first impulsive RSI occurred before the pattern's completion and the cue to short was not present yet as the pattern was not considered complete at that point. Following the completion of the second impulsive RSI structure which was higher than the preceding impulsive structure, it negated the significance of the earlier impulsive structure and set up the RSI BAMM completion and thus a short was executed then.

In addition, since this was a RSI BAMM trade, I will tend to give it more room for the price action to assert itself and allow the pattern to play as RSI BAMM in most cases will give us a strong reversal.

Since this is an educational trade and one that possesses a lot of learning points, I have decided to include the trade management aspects of the trade as this is what Harmonic Trading is all about and it is a COMPLETE system.

Trade Management

Following the trade execution, I have projected the target profits for the trade which were defined as IPO1 and IPO2 as seen in the attached chart.

The first batch of the trade was closed later when the price action hit IPO1 at 79.824, gaining a profit of 52.1 pips.

I have included the price action on the primary timeframe to illustrate the beauty of a nice reversal.

The second batch was later closed when the price action violated the accelerated reversal trendline.

The trade was squared off at 79.664, gaining a profit of 68.1 pips, which wrapped up the whole trade.

I have also include another screen capture which highlights the importance of adhering to the trade management rules and keep the emotions of greed and fear of the trading process. If I were expecting a home run in this case, I would have been sorely disappointed. :P

Therefore, it is important to keep the rules of trade management and don't even bother of the outcome even if the price action crashed after the trendline violation.

In addition, it should be noted that this trade did go through quite a bit of consolidation which put the trade in some heat and this is something that we will have to expect in trading and not all pattern completions will give us immediate home run reversals and thus, it is important to manage our own expectations and stay grounded in our trading. I have been through the stage of expecting home run scenarios and even aim to be loss free and these are not always the case. There will be short reversals with small profits only and there will be losses too as these are all part of trading.

Happy Trading everyone and I hope this trade has been helpful for those who are trying the grasp the concept of the Harmonic Trading Approach by my mentor, Scott Carney. :)

19 Jun 12 - EUR/USD - M15 - Bearish Bat Pattern - Type 1 & Possible Type 2 Reversals

This is an interesting development on the M15 timeframe where it highlights the beauty of the Harmonic Trading Approach.

Although there was no trade done on this pair, I thought it would have been interesting to document it as there were many learning points in this example. In this example, the following learning points which I think are important are the following:

1. Despite a not so ideal completion of the pattern as it completed even before the 0.382 alternate time projection, the price action and RSI formation following the pattern's completion was that of a classic textbook example of a trade execution. (Something which I would like to thank Scott for pointing it out and it somehow stood out very clearly in front of my eyes, which is something I thought is important to document in my blog)
2. The trade management aspects of the trade and the expectations along with it.
3. A nice pattern within pattern which sets up a potential Type 2 Reversal signal.

These 3 points are something which I have struggled along with for a long time and I guess with perseverance, I have come to weather these challenges and thus they were shouting at me to take note of them.


Type 1 Reversal

M15 - Primary

Minus the fact of an early completion in the case of this Bearish Bat Pattern, there were many factors which would have created an ideal sell scenario.

Following the completion of the Bearish Bat Pattern, the first indication of a nice trade at hand was the price stabilization occurred after the establishment of the Terminal Price Bar. In addition to the price stabilization, the Complex RSI Structure rolled out of the overbought region and completed a RSI Confirmation signal which in this case was a nice setup to me though.

Note: In the case of the secondary test of the RSI, since it completed as a complex RSI structure, this is sort of a hint that the RSI would probably come back to test overbought region again as an impulsive structure later to resolve itself and thus serve as an early hint that there might be a possible Type 2 Reversal.

H1 - Distal

In the case of the Distal timeframe, there is basically nothing much in terms of the confirmation except for the fact that the RSI has come out from the overbought region.

M5 - Proximate

** In this timeframe, I am highlighting the key points of trade execution as there were many factors in this setup that would point to a very nice trade execution except for this case is that it completed a tad too early.

As we look at the overall picture of the pattern, there was a nice RSI BAMM Confirmation in this setup which was considered to be a great signal for me.

In addition, the early signs of the reversal was gauged in this timeframe where is shooting star was observed following the Terminal Price Bar establishment followed by a Bearish Engulfing Pattern which was my signal for a possible reversal.

The trade could have been triggered at the point when Complex RSI structure exits from the overbought region. This would have been a nice place to trigger as it was near the upper limits of the PRZ, in this case the 0.886 XA leg.

As for the trade management aspect, since it was a Complex RSI structure which was seen at the trade execution, we can more or less expect that this is a brief reversal as the whole structure might later experience a secondary retest and resolve itself later as an Impulsive RSI structure and thus trade management in this case would be aggressive.

The trade would have been squared off when the price action violated the accelerated trendline and this natural reactive move would have been a profit of around 22 pips.

Thus, knowing how to react with the HT Approach, we will know when and how to capture the high probability segment of a trade and i think this is crucial in trading.


Type 2 Reversal (Possible)


M15 - Primary

As mentioned earlier, since RSI structure at the completion of the pattern was that of a Complex structure, we will be expecting that there will be a secondary retest of the pattern's PRZ which will set up a Type 2 Reversal. In most cases of a Type 2 Reversal, there will always be a smaller pattern transpiring which will set up another trade opportunity.

With the expectation in mind, I was more of looking to sell this pair on a Type 2 Reversal.

I will be updating again later if there is a setup coming along.


Update (20 Jun 12)

Type 2 Reversal

Following my earlier post, I was actually preparing to short this pair today while expecting for a Type 2 Reversal to materialize and true enough, a nice Type 2 Reversal presented a very nice opportunity to enter on a short in this case.

M15 - Primary

This is a very strong structural signal to me as the Type 2 Reversal in this original Bearish Bat Pattern was later complemented with a smaller Bearish Bat Pattern's PRZ and thus giving rise to a very harmonic resistance. I would call this a pattern within pattern.

The Type 2 Reversal in this case became a valid signal as it completed after the 0.886 alternate time projection which was within the window permitted for a reversal.

Despite an expectation of a RSI extreme test, there was none observed and thus it was regarded as a RSI confirmation from the earlier setup as seen in the chart attached below.

The only consolation in this case was that the RSI was clearly indicating an internal weakness in this pair as it assumed a downtrend and it has been moving down even before the reversal took place.


M5 - Proximate

This is where it gets a little technical and yet interesting on the Proximate timeframe as there were a few confirmation factors which took place here.

Firstly, as I zoom out to have a closer look on the whole pattern's formation, there was a nice RSI BAMM Confirmation which set me up for a nice short bias. In addition, since the whole RSI BAMM structure was completed, it has also given me an expectation that there will be a more extended reversal and thus more room will be given for this reversal.

In the case of the execution, the trade was later triggered on a Japanese Candlestick Pattern on a Dark Cloud Cover following the entire test of the smaller PRZ. It should be noted though that in this case, the RSI Impulsive structure completed before the pattern was completed and this was okay as RSI is usually early and thus I will have juggle this around. Added confidence was there as the RSI was also respecting a falling trendline.

The trade was triggered at 1.27154 which was near the upper limits of the smaller Bearish Bat Pattern's PRZ.

A nice playout ensued and the trade was set to breakeven prior to the FOMC Statement to put the trade in a risk free zone and thus reducing stress on my part.

IPO 1 was hit and the first batch of the trade was closed at 1.26623, gaining a profit of 53.1 pips.

As for the the second batch, the trade was later closed when the price action violated the 0.382 Trailer. The trade was closed at 1.26679, gaining a profit of 47.5 pips. (I closed the trade slightly earlier as I think my projection was a little bit off earlier when I was projecting the Fibs, but it was okay for me though.)

Reflections

I am truly grateful and glad that my understanding of the Harmonic Trading Approach is getting clearer as I remain focused on mastering it. Perseverance is one of the most important value here I guess as I have gone through many hard knocks before getting a better understanding of the Approach and I am glad that I have held on up till now. It is also thanks to Scott for his encouragement that I am finally seeing the light and thus a hope for a better future now that I am equipped with the BEST tool in trading.

The Approach has a solid basis once I started understanding the ebb and flow of how it works and patience is needed here if you are new to it. It will come to you and you will soon understand it so long as you give yourself a chance and focus really hard at mastering it. This is basically what I did and I am still doing now as it has been a desire of mine to master the approach.

Good trading everyone!

16 Jun 12 - EUR/USD - H1 - Bearish Shark Pattern - Type 1 & 2 Reversals

In these trades which I have taken, they show the true reality of trading where not all trades are the home run types which will lead one to instant riches. There will be break even trades or even losses on certain days. As I have told Scott, this blog chronicles all my experiences in my trading and it is is sort of a trading journal for me. Therefore, I will keep my posts grounded and as brutally honest to myself. :)

Type 1 Reversal

H1 - Primary

In the case of this pattern's completion, it was near a resistance and the best fit for this bearish Shark Pattern was that of a 2.24 AB projection with the 0.886 0B retracemement level. Prior to the completion of the pattern, there was a RSI BAMM which was early, but to me, it was considered a valid pattern as the RSI assumed a downtrend following the RSI BAMM's completion which price action trended slightly higher.

As seen in the attached chart, following the establishment of the Terminal Price Bar, the price action stabilised and that was my early indication of a possible reversal.

H4 - Distal

As for the Distal timeframe, there was not much confirmation factors here except for the fact that the price action was testing a previous resistance at the region of 1.2636 region.

M15 - Proximate

The basis of a trade execution in the Type 1 Reversal in this case was basically due to the following factors:

1. A Bearish Harami (Candlestick Pattern) followed a bearish candle close at the upper limits of the PRZ which was also my early indication.
2. A RSI divergence which was a strong indication to me.
3. An finally a trendline violation which was my final confirmation to go short.

A short was triggered at 1.26358, but it was later squared off with a profit of 3 pips when the price action languished and broke above the primary reversal trendline. Since I strongly believe in abiding with the trade management rules, the trade was squared off. (The price action did seem nice on hindsight, and there will be days like this and it is something which I have come to terms with as this is part of trading).

Type 2 Reversal

M15 - Proximate

For the Type 2 Reversal, the trade was later triggered when the price action moved back to test the harmonic resistance.

The trade was triggered when the price action showed an early sign of trend change when the price action violated the rising trendline. Therefore in this case, the basis of entry was basically that the price action has violated the trendline and that the RSI was already signalling a downtrend in the proximate timeframe.

The position is currently open and it is still taking some heat as price moved higher. Since I have set a stop loss in place, I will respect it and see the outcome next week.

Update (18 Jun 12)

The trade for the Type 2 was closed when the Stop Loss for the trade was triggered, taking a loss of 30.1 pips.

Reflection

I was glad that I stick with the trade execution and management rules in the Type 1 Reversal trade and I was able to stay away from the market for the whole until this very trade set itself up. In essence, I am slowly mastering the aspect of removing to the need to trade and only wait for the right setups to come.

As for the Type 2 Reversal, it would still be early to comment. I have triggered it only when it fulfilled certain conditions for a trade execution and let's see what the market will give me.

Good trading and wishing all a nice weekend!

07 Jun 12 - NZD/USD - H4 - Bearish Butterfly Pattern - Type 1 Reversal

Following a counter trend move earlier this week, NZD/USD presented a nice shorting opportunity when a Bearish Butterfly Pattern completed on the H4 timeframe.

H4 - Primary

In the case of NZD/USD on the primary timeframe, there was a nice shake-in move when the Bearish Butterfly Pattern completed. For this particular pattern, there was a slight overspill to the upside where the pattern completed at the permissible limit of 1.41 XA projection instead of the usual 1.27 XA projection.

As seen in the attached chart, following the completion of the pattern at the 1.41 XA projection, the price action stabilised on the following price bar which was my cue for a short position at hand. However, it should be noted, at the point the the trade execution, the RSI has yet to exit from the overbought area and that my main consideration of the short came from the proximate timeframe.

D1 - Distal

Referring to the distal timeframe, there was not much confirmation factors in this case except for the fact that there might be a possible shake-in as seen in the chart attached at around the 0.76751 region.

Currently, the price action has violated the steep falling trendline to assume, in my opinion, a short term countertrend following the RSI's exit from the oversold region.

H1 - Proximate

In the proximate timeframe which I make my decisions to short this pair, the discerning factor in this case to decide that the completion was at the 1.41 XA projection instead of the 1.27 was due to the following reasons:

1. Despite an early RSI exit with a price stalling behaviour, there was no other confirmation factors. In addition, the H4 RSI was still in the overbought region which made me had my doubts.
2. In order to stack the odds to my favour, I would prefer to see a trendline violation to confirm a valid trade execution which in this case, it occurred only after the price action tested the 1.41 XA projection. In addition, the RSI in H4 was also turning down, BUT has not exit from the overbought region yet. The basis of a trade execution was when the RSI shows a clear breakdown on H1 after the trendline violation.

Following the various confirmation factors, the trade was triggered at 0.77097 under a market order.

The IPO 1 was hit later, gaining a profit of 73.2 pips. As for the 2nd batch of the trade, the trade has been set to break even and managed accordingly.

Update: 10 Jun 12

The trade was later closed when the accelerated trendline was violated, gaining a profit of 62.6 pips.

The next chart attached shows why we should respect the trade management rules and act accordingly without getting too attached to a trade.

In this case, there may be a chance that the price action may go back to test the PRZ and set us up for a Type 2 Reversal. Following next week, I will be looking for a reaction of the price action at the PRZ on a secondary retest.

Update: 11 Jun 12

As I was talking about looking for a Type 2 Reversal this week in this pair, the pair gapped through the PRZ which invalidated the setup when the market opened today. Thus, there would be no trade in this case for the Type 2 Reversal.

Reflections:

I have come to appreciate the bigger timeframes better now as they are more reliable. For the bigger timeframes, the trend is easier to discern and there are lesser noise and thus reducing the rate of false positive signals.

I have been following up with my own trading results and realised that the moment I trade with the smaller timeframes, it becomes harder to trade as the markets has been choppy recently and that it was simply ridiculous for me to stay glued to my computer and trade the signals generated.

After doing some thinking, I have decided that I will take away the need to trade (if not, I would consider it an addiction), and respect the bigger timeframes. I do understand that when we go up the the bigger timeframes, there will be lesser signals and this is true. However, on the flip side, when the signals arise, they are usually of a higher probability of success. And this to me is important, I would prefer to have quality trades over quantity as the quantity will slowly kill your account if you take all those small trades that are generated on the smaller timeframes and you will then slowly get lost in the noise.

I would say that despite the news of the Europe region causing all the market choppiness, there are always opportunities in the market, and as traders, we must be learn to master our emotions and be prepared to take action when the market presents us an opportunity. Investing in one's education on trading is crucial if you are new to trading and it will save you tonnes of money and time to get you into the trading business. Just as I have signed up with Scott, the founder of Harmonic Trading, I have never looked back. Then again, this is not a one time education where you attend and make big bucks following the course. You will need other ingredients such as dedication, patience and diligence to make it work coupled with the experience which will require some time.

Good trading everyone.