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Ratios & Harmonics: a Different Way to Trade

  • #41,441
  • Jun 20, 2018 1:25pm Jun 20, 2018 1:25pm
Quoting Rgo
{quote} I am a little confused as you indicated you were in with 150 contracts but your p/l says 98 contracts.
Tough to represent my positions today on a chart so I'm just going to show the transactions FIFO.

In my books I'm considering it 3 trades, +1, +29, +27
---------------------------------------------------------------------
Total +57

In reality it was one big rescue day and taking a little profit.
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  • #41,442
  • Jun 20, 2018 3:07pm Jun 20, 2018 3:07pm
Quoting Mr. Pip
{quote} Sorry guys, I did get out after adding in I was not going to be around and was in with 150 contracts I averaged in a really good price and was able to get out with about 60K of profit. Nothing has changed from the stream and the analysis. All we got was a deeper than expected correction. {image}
did you took 98 trades from 6/19/2018 to 6/20/2018?
  • #41,443
  • Jun 20, 2018 3:42pm Jun 20, 2018 3:42pm
Quoting vladutz112
{quote} did you took 98 trades from 6/19/2018 to 6/20/2018?
If I believe this correct, his trades get split up, due to liquidity and NT counts every 'set' of contracts as different trades, I believe. So if a 150 contracts get opened, it may take 2/3 mins to fill them all. So it get split up in like 5 contracts filled each incremental movement or so, due to liquidity.
"Luck is when opportunity meets preparation"
  • #41,444
  • Jun 20, 2018 6:17pm Jun 20, 2018 6:17pm
Hello Mr Pip,

New member from the Caribbean islands. What a great thread you have set up here. Amazing!! I want to give you special thanks for thinking of us, who are aspiring to become profitable traders. That really doesn't happen often to find someone who is willing to give back like you are doing.

I started to learn how to trade at the beginning of the year and of all that i have read i chose to be an harmonic trader. I have read the Harmonic Trader and Harmonic Trading : Vol 1 (Scott Carney). And I was happily surprised when I found that thread of yours a few days ago. I have read through page 60 and i am willing to go whatever number of pages that thread has but it would be great (and helpful) if you'd have any recommendation on how I can catch up (for example, a specific page I can go from?) ? I do understand the specific patterns for which posted description and rules of engagement and I am trying to trade them using your rules.

Once again, thank you for this thread and i hope you the best in your life!!!
  • #41,445
  • Jun 20, 2018 6:29pm Jun 20, 2018 6:29pm
Quoting Steph1
Hello Mr Pip, New member from the Caribbean islands. What a great thread you have set up here. Amazing!! I want to give you special thanks for thinking of us, who are aspiring to become profitable traders. That really doesn't happen often to find someone who is willing to give back like you are doing. I started to learn how to trade at the beginning of the year and of all that i have read i chose to be an harmonic trader. I have read the Harmonic Trader and Harmonic Trading : Vol 1 (Scott Carney). And I was happily surprised when I found that thread...
Hey Buddy, the first post has a link to the specific page you are asking about. Hope it's what you're looking for.
Wow! I've got some experience to gain.
  • #41,446
  • Jun 20, 2018 7:12pm Jun 20, 2018 7:12pm
Quoting Bruin813
{quote} Great input, thanks. Let me give it another try based on the current situation. a) Long term expectation is a NSL. b) Short term just made a slight NSH. A deep correction and maybe test of the lows is expected. c) Long term and short term do not align. d) Due to the small projection (P1), we expect a long term deep correction. May we assume there's a possibility this long term correction is not completely over yet? e) Did I draw the S/D zones correctly? f) In zone 2 we may consider a short trade on a reversal candle based on a long term...
a) Yes
b) Yes, although price does not usually react to the exact point, so I would call this a retest instead of a NSH. Either way, it tells you the Bulls are very weak. Remember, we don't count the tails when assessing NSH/NSL's.
c) If counted as a retest, L/T and S/T expectation do in fact align.
d) Yes we expect a deep correction - I personally count any correction that moves past the 50% fib to be deep. We got that correction but that does not mean price wont move even deeper - this is where a more advanced strategy called "rescue mission" comes into play but you will get to that. Since your next major structure is around the 78% fib, that would be where you expect rotation IF price moves deeper than LH2
e) Yes, you want to look for areas with the most violent reactions. Look for sharp peaks and valleys.
f) Yes, that would be reasonable considering price was unable to move up past that level on the previous move up.
g) Your S/L would have to be above LH1, but your risk would be around 60 pips, so if that is acceptable risk for you, price is in a good AOI for you.

Well done. Keep it up.
  • #41,447
  • Jun 20, 2018 7:40pm Jun 20, 2018 7:40pm
Quoting Sheeep44
{quote} If I believe this correct, his trades get split up, due to liquidity and NT counts every 'set' of contracts as different trades, I believe. So if a 150 contracts get opened, it may take 2/3 mins to fill them all. So it get split up in like 5 contracts filled each incremental movement or so, due to liquidity.

I know in Ninja 7 the daily summary lists each contract regardless of order size or time to fill. I think Damian uses Ninja8 so it may be different but I don't think it is any different than Ninja 7 when it comes to daily summaries. Not a big deal was just curious as to the inconsistency. Thanks for trying to explain.
  • #41,448
  • Jun 20, 2018 7:47pm Jun 20, 2018 7:47pm
Quoting Lawnman
{quote} Hey Buddy, the first post has a link to the specific page you are asking about. Hope it's what you're looking for.
Are you talking about the summary page started by Kilian19? I went through it already.

Thanks
  • #41,449
  • Jun 20, 2018 8:01pm Jun 20, 2018 8:01pm
Mr Pip,

I see you mention "order flow" a lot. Are you talking about the direction of the contextual trend? The trades that we take are going to be reversals..so those reversals have to go go in the direction of the contextual trend?
  • #41,450
  • Jun 20, 2018 8:06pm Jun 20, 2018 8:06pm
Quoting Steph1
{quote} Are you talking about the summary page started by Kilian19? I went through it already. Thanks
No, it is a link to page 785. It is in his first sentence on page 1.
Wow! I've got some experience to gain.
  • #41,451
  • Jun 20, 2018 8:08pm Jun 20, 2018 8:08pm
Quoting Steph1
Mr Pip, I see you mention "order flow" a lot. Are you talking about the direction of the contextual trend? The trades that we take are going to be reversals..so those reversals have to go go in the direction of the contextual trend?
I highly recommend that you watch Mr. Pip's video series on YouTube, under Damian Castilla, order flow video, supply & demand etc...
Wow! I've got some experience to gain.
  • #41,452
  • Jun 20, 2018 8:13pm Jun 20, 2018 8:13pm
Quoting Lawnman
{quote} No, it is a link to page 785. It is in his first sentence on page 1.
Oh nice.. I dont't know how I missed it when I went back to the first post. Thanks buddy!!!
  • #41,453
  • Jun 20, 2018 8:17pm Jun 20, 2018 8:17pm
Quoting Lawnman
{quote} I highly recommend that you watch Mr. Pip's video series on YouTube, under Damian Castilla, order flow video, supply & demand etc...
I will.. Thanks!!
  • #41,454
  • Jun 20, 2018 8:41pm Jun 20, 2018 8:41pm
You might want to read the notes on post #38790

Don't know if they will help or not, or if they are correct or not. They are some notes that I took while learning from Mr. Pip.
Luck has no place in trading. Leave that for the poker table.
  • #41,455
  • Jun 20, 2018 9:09pm Jun 20, 2018 9:09pm
Took this trade during the asian session... It is morning here. Recently the asian session has been on fire.

I will probably be taken out, however, I have locked in some profit.
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Luck has no place in trading. Leave that for the poker table.
  • #41,456
  • Jun 20, 2018 9:13pm Jun 20, 2018 9:13pm
Quoting Pair-me-up
You might want to read the notes on post #38790 Don't know if they will help or not, or if they are correct or not. They are some notes that I took while learning from Mr. Pip.
I will look into it for sure..

Thanks for sharing.
  • #41,457
  • Jun 20, 2018 9:27pm Jun 20, 2018 9:27pm
Update: Price is approaching an area of resistance. I locked in a few more points.
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Luck has no place in trading. Leave that for the poker table.
  • #41,458
  • Jun 20, 2018 10:12pm Jun 20, 2018 10:12pm
Hi all,
My yesterday's trades on the DAXmini. Comments and Critiques welcome.
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  • #41,459
  • Jun 20, 2018 11:25pm Jun 20, 2018 11:25pm
Quoting Steph1
Mr Pip, I see you mention "order flow" a lot. Are you talking about the direction of the contextual trend? The trades that we take are going to be reversals..so those reversals have to go go in the direction of the contextual trend?
Steph1 here is just a very rough example of "order flows", you can distinguish several different order flows on this chart of similar projection, momentum, depth.
White OF = larger swings down
Blue = small retracement swings
Green = larger retracement swings made up of several blue swings

All of these order flows are tradeable using this system and your expectation is only based off of the order flow that you are trading. To start with, don't worry about whether or not your order flow is in line with the larger trend, because I bet I can scroll out and show you an even larger trend that's against you, and I can scroll in and show you an even smaller order flow that's for or against you. The point is, pick an order flow that suits you and stick with it for a while. You can worry about how order flows interact with each other after you've mastered some of the initial concepts being taught here.
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  • #41,460
  • Jun 21, 2018 7:14am Jun 21, 2018 7:14am
Nice quick little short I took ( Bearish Gartley ) a couple of mins ago on the 5M AUDUSD.
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"Luck is when opportunity meets preparation"
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