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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

  • #44,181
  • Dec 20, 2018 6:01am Dec 20, 2018 6:01am
Quoting RussellShaw
{quote} Mr. Pip, where was your stop at these trades?
Below the previous buy zone. I talked about this in the live stream.
If you fail to plan, you plan to fail.
  • #44,182
  • Dec 20, 2018 6:05am Dec 20, 2018 6:05am
Text book example of Mr.Pip's style.

1. Structure analysis to correctly draw my zones that price might be challenged at

2. Entered 1 to 1 aggressive C to D completion

3. Moved SL to break even at the test of lower structure

4. After price achieved the 127.20% extension, I started trailing decision candles.

Result = + 69

If a stubborn schmuck like me can finally start to get these habits, then anyone can get this.
Kudos to Damian for creating a positive learning environment on Forex Factory.
Attached Image (click to enlarge)
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Luck has no place in trading. Leave that for the poker table.
  • #44,183
  • Dec 20, 2018 6:09am Dec 20, 2018 6:09am
Quoting Pair-me-up
Text book example of Mr.Pip's style. 1. Structure analysis to correctly draw my zones that price might be challenged at 2. Entered 1 to 1 aggressive C to D completion 3. Moved SL to break even at the test of lower structure 4. After price achieved the 127.20% extension, I started trailing decision candles. Result = + 69 If a stubborn schmuck like me can finally start to get these habits, then anyone can get this. Kudos to Damian for creating a positive learning environment on Forex Factory. {image}
Thank you my friend. Clean and simple trade! Very nicely done!
If you fail to plan, you plan to fail.
  • #44,184
  • Dec 20, 2018 6:13am Dec 20, 2018 6:13am
Quoting Mr. Pip
{quote} Thank you my friend. Clean and simple trade! Very nicely done!

Thanks Damian.

I started at the tadpole level. Now at frog level.
Final level will be bull frog level.

Now let's go tear it up, homie!

I can't wait to go live.
Luck has no place in trading. Leave that for the poker table.
  • #44,185
  • Dec 20, 2018 6:17am Dec 20, 2018 6:17am
Morning all EDIT :
Trade just moved to BE first 3 off
Attached Image (click to enlarge)
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Always Learning
  • #44,186
  • Dec 20, 2018 6:33am Dec 20, 2018 6:33am
Quoting JayTrader
Morning all EDIT : Trade just moved to BE first 3 off {image}
I noticed this one as well.

Price just smashed through a major demand zone that has been quite strong demand zone that formed about 13 months ago.
Luck has no place in trading. Leave that for the poker table.
  • #44,187
  • Dec 20, 2018 6:34am Dec 20, 2018 6:34am
Quoting Pair-me-up
{quote} I noticed this one as well. Price just smashed through a major demand zone that has been quite strong demand zone that formed about 13 months ago.
Watching that area right now If market climbs above 250ish will get out of all
Always Learning
  • #44,188
  • Dec 20, 2018 6:54am Dec 20, 2018 6:54am
Got out of last trade at 250ish, reentered and will exit all at around blue line. and done for the day
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Always Learning
  • #44,189
  • Dec 20, 2018 7:28am Dec 20, 2018 7:28am
Quoting Mr. Pip
{quote} Thank you my friend. Clean and simple trade! Very nicely done!
Mr. Pip, quick question. Do u usually form a bias before the morning session? Personally I feel any kind of bias seems to do more harm than good for day trading.
  • #44,190
  • Dec 20, 2018 7:38am Dec 20, 2018 7:38am
Quoting baldmonk
{quote} Mr. Pip, quick question. Do u usually form a bias before the morning session? Personally I feel any kind of bias seems to do more harm than good for day trading.
He does not. Swing expectations are the bias.
  • #44,191
  • Dec 20, 2018 8:31am Dec 20, 2018 8:31am
Last trade of the night.
Attached Image (click to enlarge)
Click to Enlarge Name: YM 03-19 (1597 Tick).png Size: 52 KB
Luck has no place in trading. Leave that for the poker table.
  • #44,192
  • Dec 20, 2018 8:53am Dec 20, 2018 8:53am
Quoting Pair-me-up
Last trade of the night. {image}
Update on my short:

Here is a 1 to 1
Attached Image (click to enlarge)
Click to Enlarge Name: YM 03-19 (4181 Tick).png Size: 66 KB
Luck has no place in trading. Leave that for the poker table.
  • #44,193
  • Dec 20, 2018 9:00am Dec 20, 2018 9:00am
Quoting Pair-me-up
{quote} Update on my short: Here is a 1 to 1 {image}
Stopped out for +232 points.


Again.. price came to the golden zone.. 6.18%

I took the aggressive C to the D and started trailing decision candles once price hit the 127.20%

Harmonically it should go to the 161.80%

Have a great night/ day all.
Luck has no place in trading. Leave that for the poker table.
  • #44,194
  • Edited 1:21pm Dec 20, 2018 12:50pm | Edited 1:21pm
I got the question on Discord why I took the last trade (3 entries). I initially answered the question to him personally, but maybe other are also interested.

Here my thoughts on my trade:

I show it on 233T, it is easier to see
we made a clear NSL (leg with 1)
Price corrected far to much up and structure on the left (leg with 2)
Then price tried again an attack for a NSL
but what do you see?
breakdown of bears
and a ab -cd like move in an area of structure
so I basically traded the correction
Since I was in with 3 entries, I am more aggressive and do not let a lot of room, so I got taken out at the 38.2 level.
Anyway, it was more than enough profit, so I do not care.

Hope this helps

PS: I am not saying that you should trade like that. I only wanted to show what happens if someone only trades according to the immediate orderflow (in particular in the bottom area of the chart) without taking into account other parameters. On longer term, you should have survived and reach also TP, if managed properly and when SL at the right place. However, I do not like such huge SL., so had to setup something else.
I see many people talking about expectation and ......................., but this implies also that SL, TP, ...... are set on the right place.

This was it for this year. Hope that all ended green today.
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  • #44,195
  • Dec 20, 2018 2:28pm Dec 20, 2018 2:28pm
Quoting evocpr19
I got the question on Discord why I took the last trade (3 entries). I initially answered the question to him personally, but maybe other are also interested. Here my thoughts on my trade: I show it on 233T, it is easier to see we made a clear NSL (leg with 1) Price corrected far to much up and structure on the left (leg with 2) Then price tried again an attack for a NSL but what do you see? breakdown of bears and a ab -cd like move in an area of structure so I basically traded the correction Since I was in with 3 entries, I am more aggressive and...
Thank you for posting! I really like your perspective.
Wow! I've got some experience to gain.
  • #44,196
  • Dec 20, 2018 11:32pm Dec 20, 2018 11:32pm
Quoting evocpr19
I got the question on Discord why I took the last trade (3 entries). I initially answered the question to him personally, but maybe other are also interested. Here my thoughts on my trade: I show it on 233T, it is easier to see we made a clear NSL (leg with 1) Price corrected far to much up and structure on the left (leg with 2) Then price tried again an attack for a NSL but what do you see? breakdown of bears and a ab -cd like move in an area of structure so I basically traded the correction Since I was in with 3 entries, I am more aggressive and...
It's crazy how similarly I trade to you. I went over your chart and those are the trades that I would've took.
Finally getting to a point of consistency.
  • #44,197
  • Dec 21, 2018 7:03am Dec 21, 2018 7:03am
I think that today will be a day that I can use to practice being patient. The market reminds me of a seasoned sushi chef cutting up cucumber into those thin slices.

chop, chop, chop, chop, chop.
Luck has no place in trading. Leave that for the poker table.
  • #44,198
  • Dec 21, 2018 7:12am Dec 21, 2018 7:12am
Quoting Pair-me-up
I think that today will be a day that I can use to practice being patient. The market reminds me of a seasoned sushi chef cutting up cucumber into those thin slices. chop, chop, chop, chop, chop.

Finally some action
Attached Image (click to enlarge)
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Luck has no place in trading. Leave that for the poker table.
  • #44,199
  • Dec 21, 2018 7:19am Dec 21, 2018 7:19am
Quoting Pair-me-up
{quote} Finally some action {image}
Got the 127.20% extension

Time to trail and extend TP
Attached Image (click to enlarge)
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Luck has no place in trading. Leave that for the poker table.
  • #44,200
  • Dec 21, 2018 7:37am Dec 21, 2018 7:37am
Short

The market over all is in bear country...in my technical opinion
Attached Image (click to enlarge)
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Luck has no place in trading. Leave that for the poker table.
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