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Ratios & Harmonics: a Different Way to Trade

  • #39,681
  • Apr 22, 2018 4:21am Apr 22, 2018 4:21am
Quoting phoenix777
Hi Damian, I thank you for your generosity, glad to know there is successful trader who want to share his system and help others. i really appreciate that I will read from page 785 as you suggested, and wow it will be 1200+ pages. it will need massive time and effort. I really like your idea about price, and we trade by the price reference, seems so true, and i believe it has correlation with Elliot wave which also using Fibonnaci. I'm still reading about how to create NSH,HL,NSL,LH, and your explanation is very clear shows us how great...
Hello phoenix777

In my opinion, the most efficient way would be to first go through the videos that Mr. Pip made. You can find them on his Youtube channel:
https://www.youtube.com/channel/UCy5Zq25cFK3FZeF26wn4m0w
Start with the "Lessons X.." videos and watch them in the order they are presented.
Then, watch the live videos. Almost all possible questions that you can have were answered multiple times in the live videos.

There's also a second channel with older but useful material:
https://www.youtube.com/channel/UCw8CjBPrQlRH7jbiRbQcc1w

I hope the links work.
Don't forget to subscribe to the channel so you are notified when there is a new video.
And if you still have questions, you are free to post them, someone will answer.
I would suggest you first try to find your answer by using the "search" function on the thread, to avoid it being the 100th time that question is asked

Good luck
  • #39,682
  • Apr 22, 2018 11:21am Apr 22, 2018 11:21am
Quoting PeterT
{quote} Hello phoenix777 In my opinion, the most efficient way would be to first go through the videos that Mr. Pip made. You can find them on his Youtube channel: https://www.youtube.com/channel/UCy5Zq25cFK3FZeF26wn4m0w Start with the "Lessons X.." videos and watch them in the order they are presented. Then, watch the live videos. Almost all possible questions that you can have were answered multiple times in the live videos. There's also a second channel with older but useful material: https://www.youtube.com/channel/UCw8CjBPrQlRH7jbiRbQcc1w...
Thank you Peter, i really appreciate your help. Green pips for you my friend...
  • #39,683
  • Apr 22, 2018 1:44pm Apr 22, 2018 1:44pm
Quoting PeterT
{quote} Hello phoenix777 In my opinion, the most efficient way would be to first go through the videos that Mr. Pip made. You can find them on his Youtube channel: https://www.youtube.com/channel/UCy5Zq25cFK3FZeF26wn4m0w Start with the "Lessons X.." videos and watch them in the order they are presented. Then, watch the live videos. Almost all possible questions that you can have were answered multiple times in the live videos. There's also a second channel with older but useful material: https://www.youtube.com/channel/UCw8CjBPrQlRH7jbiRbQcc1w...
Good to have you back buddy, was afraid we lost you! Hang in there!
"Luck is when opportunity meets preparation"
  • #39,684
  • Apr 22, 2018 2:02pm Apr 22, 2018 2:02pm
I have seen the comments back and forth and this Monocro guy seems to be missed informed and/or is marketing for Trading Empowered/Tier One Trading (basically the same people, Akil, Greystone, and Jason). They are very smart and they post basic material to draw you into their paid program.

What Mr. Pip (Damian), which he has mentioned in videos/live stream whom he credited his trading style/knowledge to, has done is created a forum and gave his trading plan, strategy etc. for free, where others would have charged, let me say it again FOR FREE. Including once a month lives trading/webinar/q&a.

Mr. Pip, has been transparent and offering of his time to better educate peoples knowledge of the trading industry.

Kudos to you Damian and continue to help traders.

  1. Damian

  • #39,685
  • Apr 22, 2018 2:51pm Apr 22, 2018 2:51pm
Quoting Sheeep44
{quote} Good to have you back buddy, was afraid we lost you! Hang in there!
Lost me? You crazy, this is my future we're talking about
  • #39,686
  • Apr 23, 2018 2:25am Apr 23, 2018 2:25am
What is wrong here, is all that nonsense depth and etc. Price is moving from one lvl to another, S become resistance, it doen't matter how far it will go, or how deep it will retrace, coz price is looking for lvls, first you identify is market trending or ranging, and after you look for lvls of s/r, which price has to respect
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Even though I walk through the darkest valley, I will fear no evil
  • #39,687
  • Apr 23, 2018 2:27am Apr 23, 2018 2:27am
What I do, I take 3 time frames 5-3-1 min, 1 min is my trigger, where I am looking to open a trade, according to my conditions from trading plan
I identify trend or range on 5-3 min timeframe, and lvls of S/R
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Even though I walk through the darkest valley, I will fear no evil
  • #39,688
  • Apr 23, 2018 2:30am Apr 23, 2018 2:30am
After I drop to m1 and take a trade in the place which I identified at 5-3 min TF, and look for certain conditions to happen in order to take a trade,
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Even though I walk through the darkest valley, I will fear no evil
  • #39,689
  • Apr 23, 2018 2:41am Apr 23, 2018 2:41am
First identify trend or range, second look for lvls of s/r, price made new lower close, came back to test lvl, which was respected 4 times before, and went in the direction of trend
When we have trend, we trade only in the direction of the trend!!!!!!!!
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Even though I walk through the darkest valley, I will fear no evil
  • #39,690
  • Apr 23, 2018 2:51am Apr 23, 2018 2:51am
One more chart, some think to think for you
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Even though I walk through the darkest valley, I will fear no evil
  • #39,691
  • Apr 23, 2018 3:00am Apr 23, 2018 3:00am
Market does only 2 things : Trend or range, if it is trending lvl of S become R, if it ranging price stuck between 2 lvls. Trend - structure trade, new low, retracement to previous Support lvl, if it is ranging it is better to apply patterns ( Bat, Gartley, Cypher), or you can find structure trades in the range, knowing that price is staying between 2 lvls. It doen't have matter how far or deep it will go, as long as price is respecting lvls.
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Even though I walk through the darkest valley, I will fear no evil
  • #39,692
  • Apr 23, 2018 3:03am Apr 23, 2018 3:03am
one more chart from last week
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Even though I walk through the darkest valley, I will fear no evil
  • #39,693
  • Apr 23, 2018 3:14am Apr 23, 2018 3:14am
One more trade, we have micro trend, and strong lvl of previous resistance
at m 1 we are looking for place to buy, at this case the triger would be bat pattern,
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Even though I walk through the darkest valley, I will fear no evil
  • #39,694
  • Apr 23, 2018 3:33am Apr 23, 2018 3:33am
In the last trade, coz I bought at bat patter, my stop was 4 pips, and when price reached High of the move, I already had 3-1, 6% and I just close the trade, I don't need to wait for 1 to 1 move completion, I don't need to collect points, I have strict money management, I don't need 100 pips just to make 2% profit, in this case 12 pips was good enough to make 6% profit.

From how you enter a trade, depends your profit !
Even though I walk through the darkest valley, I will fear no evil
  • #39,695
  • Apr 23, 2018 3:39am Apr 23, 2018 3:39am
Quoting Mr. Pip
{quote} Careful my friend the only thing he can teach you is how to fall off a cliff.
No worries MR Pip - I have zero intentions of subscribing to Stapleton or the like. I was merely trying to point out that these guys charge money and not free which monocor failed to mention.
  • #39,696
  • Edited 5:25am Apr 23, 2018 3:49am | Edited 5:25am
Quoting PeteH
{quote} Good to hear you're back to demo. It helped me a great deal. I found out recently that there are firms in the UK (FXCM) that offer CFD accounts rather than Future accounts on the US30 (@US30 on Ninjatrader) that allow you to trade an index which is very similar to the YM at a lower cost per pip (i.e. you can trade for far less than $5 a pip if you wish) so if after you have demo'ed for a bit you want to start with a smaller account perhaps if in your country there is a similar set up you can give it a look.

PeteT:

To continue with what PeteH said, if it helps, I notice you are in UK? If so, maybe consider opening an account with www.activtrades.com (http://www.activtrades.com).

You can trade Dow futures for 2 pip spread from as little as £0.10 a point. So even a £100 deposit will allow 1000 pips of losses (excluding margin requirements).

What I do is use Sierra Charts for my analysis but I place trades with above firm as I can't afford to trade the high contract size on the mini ES as yet.

Do not trade with IG.com - they try and force you to use the daily Dow (via much higher spreads compared to the futures) and on which they can charge extortionate carry charges should you hold a position overnight.

Hopefully this helps you and others from UK on here - let me know if you need more information.

(I am in no way affiliated with any broker service - just years of experience of using them in the UK)

[edit] Remove duplicate line and clean up explanation.
  • #39,697
  • Apr 23, 2018 3:50am Apr 23, 2018 3:50am
That was my last trade for today, again 3 to 1, 6% profit
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Even though I walk through the darkest valley, I will fear no evil
  • #39,698
  • Apr 23, 2018 3:53am Apr 23, 2018 3:53am
So, for today, I had 3 trades, 4%,6%,6% profit, and I traded only for couple hours of europe open, the rest of the day I am free.
If you have questions, you can ask, but no questions about entry points, that is covered buy akils copyright, and I don't want to break it

Have a nice day, and happy trading !!!!!!
Even though I walk through the darkest valley, I will fear no evil
  • #39,699
  • Edited 4:27am Apr 23, 2018 4:03am | Edited 4:27am
Quoting Tesmy
{quote} No worries MR Pip - I have zero intentions of subscribing to Stapleton or the like. I was merely trying to point out that these guys charge money and not free which monocor failed to mention.
I said that I bought a course and membership from them, read my posts !!!!!!And as for me, I don't regret, check my trades from today, couple hours of trading 16%, and I am free for whole day, to do what ever I want. I bought banch of trading systems and course, soft, and etc, I wasted around 30К, until I mate EV from Psych forum, where I learned price action, and started to make money. One of my friends recommended Akil, at that time I was eager to learn harmonics, and couldn't do it here. From akil I learned a lot, MM, structure (Lvls), and etc, which improved my trading 100 times. I was profitable before him, but he improved my tading, from making 5К a month, with a lot of head ache, I jumped to over a million a month, with no head ache, and market is crystal clear. I can trade any time when I want, europe, usa, asia, it doesn't have matter, depends on the market condition and on my efforts to trade, the min 50% a week I make, when I am lazy like today, couple hours, and I am done, will go to have fun, some times I can trade for 12 -16 hours, and make 30-40% a day.
Even though I walk through the darkest valley, I will fear no evil
  • #39,700
  • Apr 23, 2018 4:10am Apr 23, 2018 4:10am
I am not saying that mr. Pip is wrong, it is his way to trade, but he over complicated everything, structure is just lvls of S/R, and that it, as soon as you understand that, you can apply trend or range, and that it, is simple like that. Use 2 timeframes, 1 to identify trend and lvsl, second for the entry point.

All the best !
Even though I walk through the darkest valley, I will fear no evil
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