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"Ratios & Harmonics: a Different Way to Trade." Summary 37 replies

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Ratios & Harmonics: a Different Way to Trade

Quoting Matts Micro
Short. {image}
SL -10 pips.
As the lights go by so too do the shadows move
Short. I have lowered my risk slightly due to the amount of risk (19 pips).
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Quoting Matts Micro
Short. I have lowered my risk slightly due to the amount of risk (19 pips). {image}
BE+.

May look for a re-entry.
As the lights go by so too do the shadows move
Bad entry on the bat completion, so I clipped a 5 lot in the MYM to allow for my stop to be in the right spot. +65
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Short.
Edit: Vertical trade line in hasn't been updated
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As the lights go by so too do the shadows move
Quoting Matts Micro
Short. Edit: Vertical trade line in hasn't been updated {image}
SL -7 pips. Expectation failure. I am cautious of playing it as a new expectation however as red news has a habit of being a momentary spike before returning to original expectation.
As the lights go by so too do the shadows move
Quoting Matts Micro
{quote} SL -7 pips. Expectation failure. I am cautious of playing it as a new expectation however as red news has a habit of being a momentary spike before returning to original expectation.
Bears momentum failing, maybe actually time for the bulls to start to enter. Maybe another period of consolidation for load up.
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As the lights go by so too do the shadows move
Long.
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  • Post #50,149
  • Quote
  • Edited Mar 5, 2021 9:01am Mar 4, 2021 7:47pm | Edited Mar 5, 2021 9:01am
Quoting Matts Micro
Long. {image}
SL -9 pips.

Having a hard couple of weeks. My weakness is straight line trends without barely a pullback. I am working on it but still have a ways to go.

My losses are relative small but building up. I missed an important trade today that was a SOS3 signal that would have boosted gains but I was busy on another chart ... grr distractions. I also had a BE by a about .2 pips that later shot down and would have been an awesome trade.

I'm not complaining because some days it works for you but others it doesn't. I am reassured by these trades if anything, knowing my trade plan is still hard at work, if not the execution of it.

Anybody that says working the market is easy is a complete master (as we have seen-Mr Pip) or just lying.
I never forget what I am fighting and how tough it is without the proper discipline.
Don't fool yourself or you will be just be made to look like a fool.
There is no mercy.
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As the lights go by so too do the shadows move
First trade today, had things to earlier.

NFP in a couple of hours.

This is against momentum but it's in my plan to take. Looking for one more HH before the larger bear OF kicks back in.

Long.
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Quoting Matts Micro
First trade today, had things to earlier. NFP in a couple of hours. This is against momentum but it's in my plan to take. Looking for one more HH before the larger bear OF kicks back in. Long. {image}
TS +10 pips (before NFP release). Technically I think this has further go topside but not getting involved on gambling on NFP.
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I am going to relocate to my Conflict Candles thread. I have being getting lazy on reading them but every time I do I learn something new. I have been stuck reading the chart too simplistically of late, I need to advance.

Mr Pips site is the Shadazzle of Forex (or any market chart reading). So if your stuck in making a profit in this market like I was for sooo long, then watch those vids and re-watch them every day.

If anybody wants to see what I'm doing in my Conflict Candles I live here: https://www.forexfactory.com/thread/1062536-conflict-candles-understanding-pa
I'm currently on an advanced learning curve. It may take me somewhere or maybe just back to where I started, I'm not sure yet. I am still trading Mr Pips fundamental reading of the charts but with an added spice.

Laterz and thanks to all here.


Oh by the way, I figured out why Mr Pip's thread was moved to the commercial section of the this site. Because it teaches you how to make money.
As the lights go by so too do the shadows move
watching five pairs for potential trades this week...
USDJPY
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AUDCAD
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CADJPY
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EURCAD
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EURUSD
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No trades yet for the week...
Quoting Matts Micro
Long. Already not going well. As frustrating as this is, I always have bad periods but come back stronger. My results look like a normal bull chart with the corrections, nothing happens in a straight line, including results... unfortunately (I'm not Mr Pip ) {image}
My losses continued for a while after this post and I was beginning to get disheartened. I post this to remind others (and myself) to stick to their plan and battle on through their losses. I had a bad week or two where quite a few days were in the red, though they were marginal losses it does start to beat you down after a while.

I have just had just 3 good days where I stuck to my plan, kept my risk the same (actually I had to drop risk a bit due to my MM system-as per plan) and managed to keep my head straight emotionally. I was feeling it, of course, I'm not a zombie... yet, but I refused to let any emotions conduct my trades.

Like I said I've had 3 good days which washed away all those lost trades without changing a thing. I am now back in black and looking for new HH's in my profit graph.

Though I am posting in my own journal thread now I still drop here to see what's going on. I encourage people to keep posting and keep this thread alive. Any questions or comments I or any other senior member will help where we can.

GL Matt.
As the lights go by so too do the shadows move
I'm so glad to see this site is still alive even thou there are only 2 of you guys keeping it alive. Matts Micro and BlacMoni. Thank you for this guys.

I followed this thread whenever it was possible during the day since I have a job as well. I only now just started the learning curve of Mr Pip's videos. I noticed there are 2 Youtube streams or sets of Mr Pip's videos. On is more on live trading sessions. Have you guys watched those videos as well? They are quite long sessions.

It feels like I'm starting all over again. Should never have stopped in the first place.

Thank you once again for keeping the site alive.
Quoting Daubert
I'm so glad to see this site is still alive even thou there are only 2 of you guys keeping it alive. Matts Micro and BlacMoni. Thank you for this guys. I followed this thread whenever it was possible during the day since I have a job as well. I only now just started the learning curve of Mr Pip's videos. I noticed there are 2 Youtube streams or sets of Mr Pip's videos. On is more on live trading sessions. Have you guys watched those videos as well? They are quite long sessions. It feels like I'm starting all over again. Should never have stopped...
Hey Daubert,
Happy to hear my posts have been helpful.
The live sessions are possibly better than the dedicated videos. I'd suggest watching the dedicated videos first, especially for the basics. Once you are comfortable with the principles of Mr Pips market reading; watching the live sessions puts it together in the most real live trading conditions you will see.

During the live sessions Mr Pip talks about his trades, why he's taken them, how he is taking them and departs so much information you will have to watch them again and again to take it all in.

GL
Matt.
As the lights go by so too do the shadows move
Quoting Matts Micro
{quote} Hey Daubert, Happy to hear my posts have been helpful. The live sessions are possibly better than the dedicated videos. I'd suggest watching the dedicated videos first, especially for the basics. Once you are comfortable with the principles of Mr Pips market reading; watching the live sessions puts it together in the most real live trading conditions you will see. During the live sessions, Mr Pip talks about his trades, why he's taken them, how he is taking them and departs so much information you will have to watch them again and again...
This is really great, thank you Matt.

I will just have to brush up on the principals again to get into the full swing of things again but that will not take too long. I do remember one thing I struggled with before I stopped watching the live trading sessions for a while. I could never determine exactly why and how Mr Pip chose his zones of interest using the past Price Action. Maybe if you can explain that to me it would help a lot.

The other question that has come up many times in the past is, will I be able to make a living by just trading? I don't mean an extravagant life, just doing my own thing and have control over my own time and life if you know what I mean. I have always enjoyed looking at charts, trying to decipher them. Another big reason for this question is that the company I work for is going down the drain. It is a parastatal company and too much money has been stolen due to corruption. In fact, the whole country is going down due to corruption. If you guessed South Africa, you are right. So yes, the clock is ticking and I need to up my game in becoming a trader. Something I always wanted to become.

Thank you
Quoting Daubert
{quote} This is really great, thank you Matt. I will just have to brush up on the principals again to get into the full swing of things again but that will not take too long. I do remember one thing I struggled with before I stopped watching the live trading sessions for a while. I could never determine exactly why and how Mr Pip chose his zones of interest using the past Price Action. Maybe if you can explain that to me it would help a lot. The other question that has come up many times in the past is, will I be able to make a living by just trading?...
The Areas Of Interests are produced from the confluence of multiple factors that ultimately produce a Strength Of Signal. The main signals that can looked at are:
1) The correctional move to structure. Where price retracts to areas of strong structure.
2) A Fibonacci retracement level ie 50%, 61.8% ect.
3) A 1:1 in the complex correction. The complex correction is the zig-zag as price pulls back before continuing on its original course. It is a ABCD or AB=CD which can be looked up in the videos.

As far making a living in this industry, it is possible. To do it though takes much practice and a certainty that you can do it. This comes about from trading for months on end with consistent results using enough risk that can make you nervous but your not because of your strong belief in your trading plan.

Hope this helps,
Matt.
As the lights go by so too do the shadows move
Quoting Matts Micro
{quote} The Areas Of Interests are produced from the confluence of multiple factors that ultimately produce a Strength Of Signal. The main signals that can looked at are: 1) The correctional move to structure. Where price retracts to areas of strong structure. 2) A Fibonacci retracement level ie 50%, 61.8% ect. 3) A 1:1 in the complex correction. The complex correction is the zig-zag as price pulls back before continuing on its original course. It is a ABCD or AB=CD which can be looked up in the videos. As far making a living in this industry, it...
Hi Matt,

Thank you for this information. It helps a lot. I'm just a little uncertain about point number 1. Do you mind expanding on that please? Another thing I also did not really grasp was the complex corrections. What are they exactly?

I have done this screenshot from one of Mr Pip's videos. I don't really understand how he gets these zones before he starts training( The grey boxes across the screen).

Thank you
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Quoting Daubert
{quote} Hi Matt, Thank you for this information. It helps a lot. I'm just a little uncertain about point number 1. Do you mind expanding on that please? Another thing I also did not really grasp was the complex corrections. What are they exactly? I have done this screenshot from one of Mr Pip's videos. I don't really understand how he gets these zones before he starts training( The grey boxes across the screen). Thank you {image}
Hey Daubert,
Structures and Areas Of Interests are a little tough. I struggled for a long time where and how to identify them, I still get a little confused today if I stare at the charts too long and hard.

They are quite plain on the face of it though. A structure is basically where price stops and consolidates for a while before moving off to the next level. A lot of people try to name a particular "price", this happens by drawing a singular horizontal line (like you see often posted on the EU thread). Mr Pip teaches however, that these prices are better observed as a small box that encapsulates the most important condensed movements of these levels.

These levels / structures are often repeated to the left of the chart in the history. That is what Mr Pip does in his pre-trading setups. I think this is one of the only times he opens a larger TF chart or scrolls back to see the history of where PA is likely to stop to take a breath in the structures and marks them on his chart. When he scales back in to the current TF those structures he drew are still visible.

Now to use the structures for the Areas Of Interests is where it gets interesting. After hitting a new HH or LL depending on direction, Price Action will correct and withdraw back to a main structure. When it reaches this structure however we don't want price to sit there again and consolidate as it did previously but rather we want it to spring off it like it's too hot to touch or if it moves within the structure to get spat back out, back to the original direction for a new HH or LL, again depending on the direction.

I will explain Complex Corrections on the next post. They are quite advanced but I will try.

Cheers, Matt.
As the lights go by so too do the shadows move
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