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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

  • #43,901
  • Nov 9, 2018 5:29pm Nov 9, 2018 5:29pm
Quoting Mr. Pip
Hello Traders, Below is the link to the live stream. I hope it has value and helps you all out. Looking forward to your comments and please like and share. Subscribe to the channel as it helps more people find us. Thank you all for the support!!!! https://youtu.be/Iqs-JFw5QRM
This was a fantastic video. It answered many of my questions with great examples. Made a lot of things clear to me. The amazing thing was that it was a day with half of the average daily range. I did not get a chance to view the session live so I played it back while looking at my chart in hindsight and it was like Mr. Pip had a crystal ball when explaining what was going to happen. Excellent stuff ! Can't say enough good things about what Mr. Pip does !
70% expectancy rate with proper SL placement.
  • #43,902
  • Nov 10, 2018 10:26am Nov 10, 2018 10:26am
Quoting Dropplan
{quote} This was a fantastic video. It answered many of my questions with great examples. Made a lot of things clear to me. The amazing thing was that it was a day with half of the average daily range. I did not get a chance to view the session live so I played it back while looking at my chart in hindsight and it was like Mr. Pip had a crystal ball when explaining what was going to happen. Excellent stuff ! Can't say enough good things about what Mr. Pip does !
Thank you! That's quite the compliment.
If you fail to plan, you plan to fail.
  • #43,903
  • Nov 11, 2018 10:39am Nov 11, 2018 10:39am
Good evening,

I am still not sure about one topic when we talk about tick charts and rotation candles. Please let me try to explain what I mean.

My current understanding is the following (and please correct me if I am wrong):

a) The candles of a tick charts may differ from chart to chart (i.e. between different traders) due to different starting times the charts are created.

b) A candle is only a valid rotation candle if the following criteria are fullfilled:

  1. The candle does not trade below the previous candle
  2. The candle achieves >= 1/2 of the the previous candle volume (size)
  3. The candle holds >= 1/2 of its own volume (size).

If my understanding of a) and b) are correct, this would mean that e.g. trader A gets a trigger for an entry and trader B maybe not. And at another point in time it may be vice versa. This situation leads me to the question if there is maybe a better way to do it and to get rid of this element of "coincidence". So I would be interested to know how the profitable traders here in the thread deal with this issue. Do you use rotation candles or do you have another "system"? What entry trigger do you use for the smaller timeframes like 89t?

Thank you for any comments.

  • #43,904
  • Nov 11, 2018 11:34am Nov 11, 2018 11:34am
Quoting Mr. Pip
GM Traders, Excited today to share my session with you. Here is the link. Come on in and participate ask questions and lets trade! https://www.youtube.com/channel/UCy5Zq25cFK3FZeF26wn4m0w/live
Hi Mr. Pip,

Fortunately I have to work during the day, but don't get to watch live. More fortunate that you share this with all. Just awesome absorbing more of what you say & do as the session progresses.

I trade part time for now with small account (forex). Have traded commodities in the distant past...ass handed to me. I'm not giving up in making trading my full time gig. I appreciate you and others like, Scott, CNtrader and Davit sharing your strategies...helps me define the "type" of trader I am working towards that works best for me.

My big take away from this session is your patience in waiting for your setup and the "mechanical thinking" approach in executing/managing trades. I will keep working towards that goal.

All the best & many thanks,
Axleman.
  • #43,905
  • Nov 11, 2018 1:10pm Nov 11, 2018 1:10pm
Quoting fxboss69
Good evening, I am still not sure about one topic when we talk about tick charts and rotation candles. Please let me try to explain what I mean. My current understanding is the following (and please correct me if I am wrong): a) The candles of a tick charts may differ from chart to chart (i.e. between different traders) due to different starting times the charts are created. b) A candle is only a valid rotation candle if the following criteria are fullfilled: The candle does not trade below the previous candle The candle achieves >= 1/2 of the the...
Hi, I trade the 233 Tick Chart. I use rotation candle and I love it, when it happened in the right place, I won't hesitate I enter.
Time is an illusion, timing is an art.
  • #43,906
  • Nov 11, 2018 2:35pm Nov 11, 2018 2:35pm
Quoting fxboss69
Good evening, I am still not sure about one topic when we talk about tick charts and rotation candles. Please let me try to explain what I mean. My current understanding is the following (and please correct me if I am wrong): a) The candles of a tick charts may differ from chart to chart (i.e. between different traders) due to different starting times the charts are created. b) A candle is only a valid rotation candle if the following criteria are fullfilled: The candle does not trade below the previous candle The candle achieves >= 1/2 of the the...
I understand what you mean. Here my 2 cents:

A rotation candle is only one parameter/indicator in your tool set for taking a trade, beside others (support/resistance, harmonic completion of a smaller ordeflow, alignement of longer term, Fib level, expection of your orderflow, expected correction of PA, particular pattern, ....).
If you have as a rule a minimum requisite for taking a trade: a proper rotation candle + whatever you see as appropriate, take it. If not, then not.
I would not bother if someone else will see or have the same candle as you. I am a friend of keeping things as simple as possible.

Hope this helps.

PS: Wie schon Beckenbauer sagte: "...Schaun mer mal, dann sehn mer scho..."
  • #43,907
  • Nov 12, 2018 12:26am Nov 12, 2018 12:26am
Quoting fxboss69
Good evening, I am still not sure about one topic when we talk about tick charts and rotation candles. Please let me try to explain what I mean. My current understanding is the following (and please correct me if I am wrong): a) The candles of a tick charts may differ from chart to chart (i.e. between different traders) due to different starting times the charts are created. b) A candle is only a valid rotation candle if the following criteria are fullfilled: The candle does not trade below the previous candle The candle achieves >= 1/2 of the the...
Hi,

adding my 2 cents as well. I can fully align with evocpr's answer on this. And of course with the quote in the end.

Your understanding of a) and b) is correct. I dont see it as an issue. I had some moments where people trading the same instrument had
rotation candles while I didnt. In that moment, it kind of annoyed me since I skipped the trade, but in the end the results were about the same.
I took the next trade with a nice rotation where others didnt get the rotation. You could also enter with limit orders at ratios/structure.
It really depends on your rules. I would not concentrate that much on different candle formation. In my charts, I am using the NY timezone
and consistently the same settings for the candle calculations. There will always be variations.
  • #43,908
  • Nov 12, 2018 1:44am Nov 12, 2018 1:44am
Quoting Mr. Pip
GM Traders, Excited today to share my session with you. Here is the link. Come on in and participate ask questions and lets trade! https://www.youtube.com/channel/UCy5Zq25cFK3FZeF26wn4m0w/live
Mr Pip
That was a great video, I learnt loads, thanks.

I've watched most of your videos speeded up, you sound like Joe Pesci. But when I watched it live you sounded like Denzel Washington .

Are you still using the Order Flow Candles, and are they of any use?
Thanks again.
  • #43,909
  • Nov 12, 2018 6:36am Nov 12, 2018 6:36am
nice start of the week. It only took 1.37 minute
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  • #43,910
  • Nov 12, 2018 7:00am Nov 12, 2018 7:00am
Morning all. Trades so far this morning.
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Always Learning
  • #43,911
  • Nov 12, 2018 7:07am Nov 12, 2018 7:07am
Evening all... My first short trade for the evening.

It's a bank holiday, so perhaps this is a battle amongst us retail traders.
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Luck has no place in trading. Leave that for the poker table.
  • #43,912
  • Nov 12, 2018 7:08am Nov 12, 2018 7:08am
Good start here as well.

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Blessed is the one who takes refuge in Him.
  • #43,913
  • Nov 12, 2018 7:11am Nov 12, 2018 7:11am
Nice trades Nikster and Jay. I cannot see too much stucture to the the left though. Did you consider only ecpectation and decision candle? Thanks.
  • #43,914
  • Nov 12, 2018 7:19am Nov 12, 2018 7:19am
Quoting majrou666
Nice trades Nikster and Jay. I cannot see too much stucture to the the left though. Did you consider only ecpectation and decision candle? Thanks.
I look at higher t frames where there was structure to left and execute on the 233. Hope that helps
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Always Learning
  • #43,915
  • Nov 12, 2018 7:29am Nov 12, 2018 7:29am
Please remind me the higher timeframe tick count chart that you guys use for structure?
Blessed is the one who takes refuge in Him.
  • #43,916
  • Nov 12, 2018 7:44am Nov 12, 2018 7:44am
Quoting reo4ua
Please remind me the higher timeframe tick count chart that you guys use for structure?
1597 is what most use
Always Learning
  • #43,917
  • Nov 12, 2018 7:45am Nov 12, 2018 7:45am
Update on my short. My first target was 25720. Price starting approaching it with quite a bit of strength, so I locked in some more points and I extended my target.
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Luck has no place in trading. Leave that for the poker table.
  • #43,918
  • Nov 12, 2018 7:54am Nov 12, 2018 7:54am
I had to cinch up on it. It is getting close to bed time for me.
Attached Image (click to enlarge)
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Luck has no place in trading. Leave that for the poker table.
  • #43,919
  • Nov 12, 2018 8:03am Nov 12, 2018 8:03am
Quoting majrou666
Nice trades Nikster and Jay. I cannot see too much stucture to the the left though. Did you consider only ecpectation and decision candle? Thanks.
We had a AB=CD completion in an area of structure and the second leg of the AB=CD started strong but you can see the breakdown happening
  • #43,920
  • Nov 12, 2018 8:13am Nov 12, 2018 8:13am
I took this last screen shot just before price took me out.

Positive 198 points

My little $1,000 USD demo account that I started last Friday my time is now $3,560.64

Again... this is just for practice to try and sharpen my trading skills while I save up capital to fund a live account for the YM.

I would never, ever really trade a one thousand dollar account on the YM.

My logic is... my entries are total rubbish. Therefore, if I can grow a small account, then I need to be more patient and focus on my entries with more precision if I don't want to blow this tiny demo account.

For anyone who is reading this... I follow suit with JayTrader in that I look at the larger order flow.

Think of it like a battle. The person in the look out tower can see more armed soldiers coming and let the foot soldiers below when to start getting ready. Of course there might be the occasional ambush that wasn't seen. I call this a sneak attack. Anyways.. for now.. I need my look out towers strategically placed to have better foresight of the market. Good night all and happy trading. Let's see what tomorrow brings.
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Luck has no place in trading. Leave that for the poker table.
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