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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

  • #31,221
  • Aug 28, 2017 10:07am Aug 28, 2017 10:07am
Quoting Mr. Pip
So, I went short, Why? Can anyone tell me why I went short? And no I did not flip a coin.

My guess is:
You have structure in the previous swing NSL,
you have respect from that area to the immediate left,
order flow has turn bearish,
you trully believe it was just a retest of previous swing LH !

Also, i cannot be sure because i don't have futures charts, but it should be 61.8 fib retreacement. Lots of confluence, still , could have gone wrong, congrats !
  • #31,222
  • Aug 28, 2017 10:09am Aug 28, 2017 10:09am
Mr. PIP, any reason why you stopped appearing in the discord chat ? would love to see you there !
  • #31,223
  • Aug 28, 2017 10:10am Aug 28, 2017 10:10am
Quoting pereiraalex
{quote} If you don't see me there, either i don't have internet connection, or i am dead !!!!
If you fail to plan, you plan to fail.
  • #31,224
  • Aug 28, 2017 10:10am Aug 28, 2017 10:10am
Quoting Mr. Pip
So, I went short, Why? Can anyone tell me why I went short? And no I did not flip a coin.
Was a 1 to 1 completion and a retrace to between 61.8 and 78.6(which normally is a target profit for this pattern completion). Moreover there was structure there and the larger swing did make a NSL with small projection and therefore you expected a deeper depth for the retracement(which you did get). Only concern was the strength of the bulls going into your area of interest was strong.

Could not afford this large a SL on this Order Flow, therefore, still no trade for me today.......
  • #31,225
  • Aug 28, 2017 10:11am Aug 28, 2017 10:11am
Quoting x3m-PippiN
Damian can you explain the short please. I still don't get what you saw on the 1597 chart...
I definitely will give me a few minutes.
If you fail to plan, you plan to fail.
  • #31,226
  • Aug 28, 2017 10:13am Aug 28, 2017 10:13am
Quoting Milfortra
{quote} Was a 1 to 1 completion and a retrace to between 61.8 and 78.6(which normally is a target profit for this pattern completion). Moreover there was structure there and the larger swing did make a NSL with small projection and therefore you expected a deeper depth for the retracement(which you did get). Only concern was the strength of the bulls going into your area of interest was strong. Could not afford this large a SL on this Order Flow, therefore, still no trade for me today.......
WOW!!!! Spooky, you were in my head!
If you fail to plan, you plan to fail.
  • #31,227
  • Aug 28, 2017 10:16am Aug 28, 2017 10:16am
Quoting Mr. Pip
{quote} WOW!!!! Spooky, you were in my head!

The result of listening to your previous live session practically almost every day!
  • #31,228
  • Aug 28, 2017 10:23am Aug 28, 2017 10:23am
Quoting Milfortra
{quote} The result of listening to your previous live session practically almost every day!
SHIT MAN, I almost fell out of my seat. Crazy!!
If you fail to plan, you plan to fail.
  • #31,229
  • Aug 28, 2017 10:35am Aug 28, 2017 10:35am
Quoting Milfortra
{quote} Was a 1 to 1 completion and a retrace to between 61.8 and 78.6(which normally is a target profit for this pattern completion). Moreover there was structure there and the larger swing did make a NSL with small projection and therefore you expected a deeper depth for the retracement(which you did get). Only concern was the strength of the bulls going into your area of interest was strong. Could not afford this large a SL on this Order Flow, therefore, still no trade for me today.......
My reasons for the short are all here the only thing to add other then the really nice response to the area is that selling strength has been on the increase as the ABCD had really strong selling momentum and volume.

I'll just add a chart to show what was mentioned. Well done Milforta!
Attached Image (click to enlarge)
Click to Enlarge Name: YM 09-17 (1597 Tick) 2017_08_28.png Size: 76 KB
If you fail to plan, you plan to fail.
  • #31,230
  • Aug 28, 2017 10:58am Aug 28, 2017 10:58am
Out at +50 points nice trade. Catch you all tomorrow 50 points @ 40 contracts 10K nice Monday! Nice start to week!
If you fail to plan, you plan to fail.
  • #31,231
  • Aug 28, 2017 11:01am Aug 28, 2017 11:01am
Quoting Mr. Pip
Out at +50 points nice trade. Catch you all tomorrow 50 points @ 40 contracts 10K nice Monday! Nice start to week!

Very, very inspiring Mr Pip!
Really hope to trade like you do very, very soon.
  • #31,232
  • Aug 28, 2017 11:19am Aug 28, 2017 11:19am
Quoting Milfortra
{quote} Very, very inspiring Mr Pip! Really hope to trade like you do very, very soon.
... and You Milfortra make me feel like I'm not working hard at all!!! I use to think I was working very hard at it. Gonna up my game for sure! Great feeding off of y'all's passion and progress.
  • #31,233
  • Aug 28, 2017 11:26am Aug 28, 2017 11:26am
Quoting Milfortra
{quote} Was a 1 to 1 completion and a retrace to between 61.8 and 78.6(which normally is a target profit for this pattern completion). Moreover there was structure there and the larger swing did make a NSL with small projection and therefore you expected a deeper depth for the retracement(which you did get). Only concern was the strength of the bulls going into your area of interest was strong. Could not afford this large a SL on this Order Flow, therefore, still no trade for me today.......
So basically I really have to stop wanting perfection. I saw the "1:1" but since it's not exactly 1:1 (the second leg overextends a bit) I didn't consider it. This desire for perfection in the price action is really hindering my trading.
  • #31,234
  • Aug 28, 2017 12:25pm Aug 28, 2017 12:25pm
Quoting x3m-PippiN
{quote} So basically I really have to stop wanting perfection. I saw the "1:1" but since it's not exactly 1:1 (the second leg overextends a bit) I didn't consider it. This desire for perfection in the price action is really hindering my trading.
The market is perfectly imperfect. Price will fall slightly short or go slightly past. We can't alway hold price exactly to a fib level. This is why it's an area of interest or a price reversal zone. It is never a price level nor is support or resistance a line on a chart.

If price is accelerating expect it to go slightly past as energy is building the opposite would be expected if price is slowing down. Don't over think it but also don't hold price accountable to precise perfection.
If you fail to plan, you plan to fail.
  • #31,235
  • Aug 28, 2017 12:58pm Aug 28, 2017 12:58pm
Mr. PIP,

Can I ask your for help with marking areas ?! Generally I know how to mark them ( or i think i do ).

For example, for support (in image support.png), I mark the NSL that got expectation broken with the previous NSL. The inverse for resistance.

But how to mark them when there is not previous point to relate to ? how would i do it in the "how_to.png" image ?
Attached Image(s) (click to enlarge)
Click to Enlarge Name: support.png Size: 2 KB
Click to Enlarge Name: how_to.png Size: 5 KB
  • #31,236
  • Aug 28, 2017 3:19pm Aug 28, 2017 3:19pm
Quoting pereiraalex
Mr. PIP, Can I ask your for help with marking areas ?! Generally I know how to mark them ( or i think i do ). For example, for support (in image support.png), I mark the NSL that got expectation broken with the previous NSL. The inverse for resistance. But how to mark them when there is not previous point to relate to ? how would i do it in the "how_to.png" image ? {image} {image}
There is always a reference to the left. Use at least two points that price has had a violent reaction to and square it off. Join the live stream on Wednesday and you will watch me do it.
If you fail to plan, you plan to fail.
  • #31,237
  • Aug 28, 2017 10:42pm Aug 28, 2017 10:42pm
Hello Mr Pip,
Special thanks for revealing and teaching your methods explicitly and all for free. Great job to everyone else out there who made this thread a great one.
One of my great attractions for this thread has been that regular stuff that get talked about are not in this thread. However right now I would really like Mr Pip to help me out answer some of these general questions bothering me from his experience.

Seeing that you have a trading time schedule is there a time and period you select for trading because the method will perform better then?

Alexander Elder (and I am not comparing you or your work to his but his theory has merit) advises in his writings to stop trading for a month if you have 3 consecutive losses or a six percent draw down to protect capital . Of course this advice applied only to daily time frame traders.
So my question is how does one apply this to your strategy on a lower time frame.
I know Everyone has to apply this regardless of what each individual trader or professional may call it, some kind of method is used to stop trading or prevent over trading /cut short a losing streak.
So I was hoping you could with your experience advise that after so number of trades or percentage drawdown. trading should stop until next day? if you are an intraday trader, and two ? or more days? or sessions? if you trade on a higher time frame?
These are all questions and I am eager to learn from you.
I do hope you will give me the answers. God Bless you for a wonderful thread.
  • #31,238
  • Aug 29, 2017 2:06am Aug 29, 2017 2:06am
USDJPY Analysis

Intraday: NSL
- Market made a huge move yesterday (close to a 100 pip move)

Expectation: Although it’s a NSL, will expect the bulls to correct the price deep enough for a good RR for the short

Long term: NSL
- Market is in confluence with intraday

Expectation: Would like the intraday to play out
Attached Image (click to enlarge)
Click to Enlarge Name: usdjpy290817 15m.JPG Size: 103 KB
  • #31,239
  • Aug 29, 2017 2:19am Aug 29, 2017 2:19am
Quoting Mr. Pip
{quote} There is always a reference to the left. Use at least two points that price has had a violent reaction to and square it off. Join the live stream on Wednesday and you will watch me do it.

Thanks ! Sometimes I have difficulty in getting the previous reference to the left. I think I am also trying to overthink it too much. thanks ! Great that your back !
  • #31,240
  • Aug 29, 2017 2:27am Aug 29, 2017 2:27am
Quoting wnabo
Hello Mr Pip, Special thanks for revealing and teaching your methods explicitly and all for free. Great job to everyone else out there who made this thread a great one. One of my great attractions for this thread has been that regular stuff that get talked about are not in this thread. However right now I would really like Mr Pip to help me out answer some of these general questions bothering me from his experience. Seeing that you have a trading time schedule is there a time and period you select for trading because the method will perform better...
If i may give my opinion about this:

* Timeframe , it will work in any timeframe you choose. All you have to do is be confortable with your timeframe and be consistant about it ( not mix timeframes, like trading short term and stops long term or vice versa ).

* Alexander Elder .... That was my first book about trading... And coincidence or not, was when I going downhill in everything. My advice, as sooner as your forget what you read, the better. This is my personal advice, but a very strong one. Its not like everything he says is wrong, but its either wrong or very superficially addressed. ( it makes no sense in stopping one month after 3 losses, ... embrace loss, its part of business. Also, stock market is not a 4 stations MACD and you should not buy in the spring and sell in the automn, like he describes in the books).
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