Ratios & Harmonics: a Different Way to Trade

Mr Pip, did you take the gartley on the long term ?

That looks like a potential bat pattern. I am still learning the butterfly and crab as well. Mr.Pip has a pdf about the rules for the harmonic patterns.

If it is a Gartley then it would be a continuation to the upside. However, my bias is bearish for the time being on the larger order flow.

May the odds be in your favor.

I drew a Gartley and a Bat pattern for you. I have it color coordinated so I don't need to redraw a pujjilion harmonics all over the place.

I could be wrong though and we could get a straight up AB=CD

The Green lines are for Gartley and the Brown lines are for Bat. So you have XABCD all within the main swing without having to redraw with the fibtool.

terterimakasih Mr. Pip, I was very glad to meet you on this forum. What is the meaning of ratio and harmonic strategies?

These are some notes on Mr.Pip's ratio and harmonic strategies.

I don't know if it will help, but it has all the links to his video lessons and live streams.
https://www.forexfactory.com/attachment.php/2731201?attachmentid=2731201&d=1521779529

@pair-me-up, the link above is producing a 404 - file not found.

Also thanks for your additional notes on Mr. Pip's videos and posts

Begin Rant.

If you’ll indulge me I want to go on a bit of a rant which I totally mean for others benefit and certainly not to be self-centered. If you’re brand new to this thread I’m aiming this rant at you (in a nice way I hope).

I am flattered that anyone would subscribe to my posts here at ForexFactory, I think I have 9 subscribers at the moment. I’m flattered that anyone would ask for my opinion, private message me, etc… I hope to be of help. My issue is that people whom I’ve never seen post on our thread will happen by, notice that I’ve taken a couple of good trades, subscribe to my posts, send me private messages, and will remain subscribed until I have about 2 or 3 consecutive losing days at which point they’ll send me private messages about changes that I should make and then promptly unsubscribe from me. It’s a condition of the newby/unsuccessful trader.

What I hope to convey to any of the new readers of this thread is this…..don’t follow anybody because of 3 or 4 or 10 trades they’ve taken. Don’t follow anybody because of a month of good results. And don’t abandon a winning system because of a month of poor results, or even 2 or 3 months of poor results.

You must have realistic expectations. Damian trades this system at 70-80% w/l%. From my observance he ranges from a 1.5 to 1, upwards to 2.5 to 1 w/l amount ratio.
Damian is a top 1% trader in this industry. If you expect those results that’s like expecting you can play with Lebron or Curry in the NBA. The great thing about trading is that you don’t have to be a top 1% trader to make a ton of money.

I trade Damian’s system around 55-65% w/l, and 1.25/1.5 to 1 w/l ratio. It may not seem like it but that’s a far stones throw from Damian’s results.

If you’re new to this system and following the rules I expect your results to realistically be in the range of 50-55% w/l, and 1/1.25 to 1 ratio. It will improve, give it time. And by time I mean hundreds of trades over months of study and hard work. Your results may be significantly better/worse than that, but how many trades have you taken? Dozens, hundreds, thousands?

I’m posting my YM results (chart) in points for the past 3 months of trading. I’ve highlighted 3 areas of drawdown. In each of those areas I had multiple people unsubscribe and a flood of private messages about suggestions for changing my trading plan. And yes every one of those draw down periods bothered me, I’m still very susceptible.

Again what I want to convey is for you to focus on the big picture of slow and steady growth, both of your trading account, and of your skill. Stick to something. Formulate a plan (I suggest stealing Damian’s verbatim) and stick to it. Keep up with your stats, use them wisely. Don’t compare them to Damian’s and don’t compare them with mine, compare them with your own stats from the previous month, previous quarter, previous year. Don’t get too caught up in the day to day results or week to week results or even month to month results. Look at the big picture. Follow and learn from traders who have been consistently profitable over the long haul. I don’t as of yet consider myself to be in that category but I’m working on it.

End Rant.

I found another link which summarises all of Mr Pips communications. Thanks again to Pair-Me-Up and Kilian19 who was the summariser.

https://www.forexfactory.com/showthread.php?t=403393

Had no idea that was happening with PMs. That sucks people do that. Concur with sentiment of rant.

Thought the same... Crazy.

Very well said. First, I appreciate your contributions to this thread and always look forward to seeing your interpretation of the market at the end of the trading day.

Secondly, that equity curve presented in points that you shared, indicates to me that you are a consistently profitable trader. What I like most about that chart is that the depth of each drawdown has gotten consistently shallower. That is a great indication of progress being made over these past three months as far as I can tell. I will be ecstatic if my win rate can sit consistently above 50% with an advantageous win/loss ratio in three months time!

Absolutely awesome stuff.

Is this live trading?

You just click on it and it will down load the price action trading doc that are from Mr.Pip's lessons. If that doesn't work just go to files under my user name and you will see it along with some other pdf stuff that I posted in the past.

Hello, traders!
I'm a little confused about where the market goes now. What is your bias?

Looks Range-bound to me from 25880 to 26040. I'm considering a short down to the 25880 area or just waiting to see which side of the range the market breaks out to. On the longer term my bias is short.

Long for me, overall and immediate. But still waiting for opportunities.

There are order flows within order flows. So an individual's bias should correlate to the order flow that they are trading.

My current bias is for the bears. However, I am trading the larger order flow. There are those that trade the smaller order flows that can make point with the bulls as well.

Is that chart that you are looking at a tick or time chart and which one?

nice harmonics on the downtrend.
New Structure Low, looking for retrace for short.

I'm short