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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

  • #29,361
  • Jun 20, 2017 10:18pm Jun 20, 2017 10:18pm
Mr Pip............ where r u?

Potential USDJPY trade setup.

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  • #29,362
  • Jun 21, 2017 2:04am Jun 21, 2017 2:04am
Quoting stavrogijn
{quote} Thank you for the tip, I am trading FDAX so it is not as bad as YM. There is enough action, but it is consideraly slower since yesterday nonetheless.
I'am monitoring the mini dax for almost 2 weeks now and only took 2 trades.
What is your frequencie on trading the FDAX? if i may ask
  • #29,363
  • Jun 21, 2017 11:59pm Jun 21, 2017 11:59pm
Quoting civo
{quote} I'am monitoring the mini dax for almost 2 weeks now and only took 2 trades. What is your frequencie on trading the FDAX? if i may ask
Sure. I average 9 trades a day over the last 3 months. Which seems to be optimal for me.
  • #29,364
  • Jun 22, 2017 6:56am Jun 22, 2017 6:56am
Awfully quiet here lately. Looks like Mr. Pip left the thread and took everyone with him
  • #29,365
  • Jun 22, 2017 10:07am Jun 22, 2017 10:07am
Quoting PeterT
Awfully quiet here lately. Looks like Mr. Pip left the thread and took everyone with him
True, all people are quite. Now going through the videos.
  • #29,366
  • Jun 22, 2017 2:21pm Jun 22, 2017 2:21pm
NQ

Thought I'd share my papertrade and thoughts for today. I took a shot at medium term order flow after the short term orderflow shifted bullish. I wanted to grab a few ticks as my session was coming to a close and the RR seemed okay with sellers around 98~99 level and a small ABCD completion. I let the first backtest happen before setting BE, but wanted to be aggressive with SL since I was against short term order flow. A second backtest took me out at +2.

I closed my trading session not long after that, but I watched a bit more and it looked like structure was being set up for a move to the upside, using 5785 as support. It was very cool seeing it blast off after that.
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  • #29,367
  • Jun 22, 2017 4:27pm Jun 22, 2017 4:27pm
Quoting PeterT
Awfully quiet here lately. Looks like Mr. Pip left the thread and took everyone with him
Yeah it is a shame. No doubt he will be back but my guess will be Oct-Nov time.

i am really struggling to stay active on here ATM. Literally finish work, get home and trade/cook diner, then some more work/research/reading etc. Then by that time it is midnight and time for bed, to be up at 7 for a repeat of it all!!

I had had a little moment a few days ago and lost a bit trading into news without being protected, so mainly trying to get back in the green. Had a good few days getting back on it.

I am finding talking to myself whilst trading really helps crazy right!! I am literally talking through my decision process, what the market is telling me, why I am entering etc. Think it helps so I don't skip over any areas. Thinking things out can be instant and therefore rules skipped or not fully checked, talking them out gives me time to actually check and confirm them prior to trading. Will keep on this path I think.

Hope everyone is still here and trading in the green fro the shadows!
  • #29,368
  • Jun 23, 2017 1:30am Jun 23, 2017 1:30am
Quoting PipTrendz
{quote} Yeah it is a shame. No doubt he will be back but my guess will be Oct-Nov time. i am really struggling to stay active on here ATM. Literally finish work, get home and trade/cook diner, then some more work/research/reading etc. Then by that time it is midnight and time for bed, to be up at 7 for a repeat of it all!! I had had a little moment a few days ago and lost a bit trading into news without being protected, so mainly trying to get back in the green. Had a good few days getting back on it. I am finding talking to myself whilst trading...
I like to.get.news from others. Yesterday on YM was a bit tricky form me. I started a rescue mission and closed my day with +5.
  • #29,369
  • Jun 23, 2017 2:02am Jun 23, 2017 2:02am
Quoting kelvinyun
Mr Pip............ where r u? Potential USDJPY trade setup. {image}
Didn't get to my target.

Still, its a 55 pip movement

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  • #29,370
  • Jun 23, 2017 2:18am Jun 23, 2017 2:18am
Potential trade setup:

Gold, Daily.

Need to wait sometime for trade entry though.

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  • #29,371
  • Jun 23, 2017 10:14am Jun 23, 2017 10:14am
Quoting kelvinyun
{quote} Didn't get to my target. Still, its a 55 pip movement {image}
Nice. It started out strong but unfortunately the bull strength faded away.
  • #29,372
  • Jun 23, 2017 10:24am Jun 23, 2017 10:24am
Quoting PipTrendz
{quote} Yeah it is a shame. No doubt he will be back but my guess will be Oct-Nov time. i am really struggling to stay active on here ATM. Literally finish work, get home and trade/cook diner, then some more work/research/reading etc. Then by that time it is midnight and time for bed, to be up at 7 for a repeat of it all!! I had had a little moment a few days ago and lost a bit trading into news without being protected, so mainly trying to get back in the green. Had a good few days getting back on it. I am finding talking to myself whilst trading...
Sorry to hear about your losses. Hope you're back up soon.
I also talk to myself while trading, sometimes I hear Mr. Pip's voice in my head. Even at night while I'm sleeping
I've mostly been watching the chart and took very few trades this week because I had some losses the week before and I wanted to investigate what went wrong.
I'm trying to take less trades now, watching Mr. Pip's videos in the evening and studying the material.
Still feel like I'm getting better at it so I keep going

grtz Peter
  • #29,373
  • Jun 23, 2017 12:37pm Jun 23, 2017 12:37pm
Quoting ckh626
NQ Thought I'd share my papertrade and thoughts for today... {image}
Thanks for sharing. Would be too risky for me to go short there.
I also would have had difficulties finding an entry for a long there. Although there was good support, at structure, and confluence with 61.8 and 1:1 completion, the bear candles kept showing strength. And there was no real good rotation candle as you mention. Don't know if one should still go long despite bear strength and bad rotation.. Don't think I would.
  • #29,374
  • Jun 23, 2017 1:01pm Jun 23, 2017 1:01pm
Quoting PeterT
{quote} Thanks for sharing. Would be too risky for me to go short there. I also would have had difficulties finding an entry for a long there. Although there was good support, at structure, and confluence with 61.8 and 1:1 completion, the bear candles kept showing strength. And there was no real good rotation candle as you mention. Don't know if one should still go long despite bear strength and bad rotation.. Don't think I would.
I think you had 1.5 or 2 out of 3 criteria to go long on the third spike. Bears were going nowhere at 31.8 from the low when the pullback should have been deeper based off the 1:1 completion at 5793. 5785 was proving to be the line in the sand for the day. Bears were losing momentum.

But yeah, the bear candle was scary, lots of volume. The rotation candle took awhile to show up. And SL wasn't in a great spot if you wanted good RR. If I were trading, I'm not sure if I would have taken the trade either. I didn't like where I'd have to put the SL. whether 5785 would hold was a big coin flip imho.

As for the short, the bulls looked like they were losing momentum. Projection was looking kind of long with incoming mid-term structure. I tried to play the pullback, which is risky by definition since short term order flow is against you right? RR wasn't great, probably about 1:1, but the risk was within what I was looking for.
  • #29,375
  • Jun 23, 2017 1:12pm Jun 23, 2017 1:12pm
volume seems really low today. Friday and Russell rebalancing day...
  • #29,376
  • Jun 23, 2017 1:24pm Jun 23, 2017 1:24pm
Quoting ckh626
{quote} I think you had 1.5 or 2 out of 3 criteria to go long on the third spike. Bears were going nowhere at 31.8 from the low when the pullback should have been deeper based off the 1:1 completion at 5793. 5785 was proving to be the line in the sand for the day. Bears were losing momentum. But yeah, the bear candle was scary, lots of volume. The rotation candle took awhile to show up. And SL wasn't in a great spot if you wanted good RR. If I were trading, I'm not sure if I would have taken the trade either. I didn't like where I'd have to put...
I agree the bears were producing nice volume candles but they never got anywhere with them. That was also a sign they were weakening. Still I prefer to see that weakening of the candles and a nice rotation candle

And the short, I used to trade against short term OF but most of the time I lost money so I'm trying not to do that anymore.
Especially when you have a strong or medium strong bull move like you had there, you (or I) don't know if it will go on or retrace. After your entry candle, in my opinion, bulls could have kept going for a while as there where a few more options of structure to the left (although they were showing some signs of exhaustion and the move was already past a 1:1 of the previous swing).

I'm trying to be more selective in the trades I take to eliminate more losing trades.
Don't want to be negative about your trade. Just sharing my (student) thoughts
  • #29,377
  • Jun 23, 2017 1:33pm Jun 23, 2017 1:33pm
Quoting PeterT
{quote}I'm trying to be more selective in the trades I take to eliminate more losing trades. Don't want to be negative about your trade. Just sharing my (student) thoughts
Definitely not bad to trade less. Name of the game is to preserve capital.
  • #29,378
  • Jun 23, 2017 1:33pm Jun 23, 2017 1:33pm
Quoting ckh626
volume seems really low today. Friday and Russell rebalancing day...
Oh is that the reason? Also for USDJPY? Cause it's been ranging tightly all day.
Never heard of Russell rebalancing day. It was not on the FF calendar
  • #29,379
  • Jun 23, 2017 2:33pm Jun 23, 2017 2:33pm
Quoting PeterT
{quote} Oh is that the reason? Also for USDJPY? Cause it's been ranging tightly all day. Never heard of Russell rebalancing day. It was not on the FF calendar
i just found out about it yesterday. third or fourth friday of june every year. russell 2000 gets reconstructed. This is probably a part of the whole mantra, 'sell in May and go away'. skip all the rebalancing that happens in June.

http://www.nasdaq.net/PublicPages/assets/MyMID/2017_Trade_Calendar.pdf

Last week was Quad Witching, when a bunch of contract types expire.
  • #29,380
  • Jun 23, 2017 3:28pm Jun 23, 2017 3:28pm
Quoting Coreg2004
{quote} @Tomaz, If I were you (assuming you just started your trading career) I would grab Van Tharp's book Trade your way to financial freedom. It gives you perspective on your journey becoming a trader. If you want to stick with Fibonacci approach in your trading get your hands on Robert Fischer's book "Fibonacci applications and strategies for traders".....good luck.
I´ve just finished the books you recomended! i´ve grasped some very interesting ideas, more than when i read "trading in the zone. the second one is interesting but makes me wonder if those strategies can be used in confluence with mr pip´s.

Do you or any other trader here can recomend some more books while im in exams and cant trade?( it appears it will last until the end of july)?
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