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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

  • #47,481
  • Aug 22, 2019 11:40am Aug 22, 2019 11:40am
Quoting Mr. Pip
Hello Traders, I did not get any rotations today however I did get absorption in my areas of interest and I have been seeing this more and more lately. I will be possibly making an adjustment to my trade plan that allows for entry for either absorption or rotation. Just need to test this a bit more and define the concept of absorption so it is clear. We have define rotation from a rules stand point and we must do the same for absorption. I have to put thought into this.
This is the kind of shit that makes you a Jedi
  • #47,482
  • Aug 22, 2019 11:48am Aug 22, 2019 11:48am
Quoting standrdtrde
{quote} This is the kind of shit that makes you a Jedi
Why thank you!
If you fail to plan, you plan to fail.
  • #47,483
  • Aug 22, 2019 1:50pm Aug 22, 2019 1:50pm
Damian, why don't you use limit orders in AOI like you do with the longer term ?
  • #47,484
  • Aug 22, 2019 3:20pm Aug 22, 2019 3:20pm
Quoting x3m-PippiN
Damian, why don't you use limit orders in AOI like you do with the longer term ?
I’m exploring that as well. Thank you for the suggestion
If you fail to plan, you plan to fail.
  • #47,485
  • Aug 22, 2019 3:26pm Aug 22, 2019 3:26pm
"One day, in retrospect, the years of struggle will strike you as the most beautiful."
70% expectancy rate with proper SL placement.
  • #47,486
  • Aug 22, 2019 3:34pm Aug 22, 2019 3:34pm
Quoting Dropplan
"One day, in retrospect, the years of struggle will strike you as the most beautiful."
Affirmative
  • #47,487
  • Aug 22, 2019 3:40pm Aug 22, 2019 3:40pm
Quoting Mr. Pip
{quote} I’m exploring that as well. Thank you for the suggestion
The other thing I'm doing is watching 4 charts (144 tick, 233, tick, 250 volume, 500 volume) and I'm observing rotations...the first three don't have any significant difference and the 500 volume sucks..
Mind you I'm doing it all manually cause I'm not a tech wiz like bmdenton and I noticed many times when one chart didn't have a rotation but the other had..so if we observe two charts at the same time we'll increase the odds of seeing a rotation at an AOI.
Don't know if that's actually giving us advantage...
  • #47,488
  • Aug 22, 2019 4:54pm Aug 22, 2019 4:54pm
Quoting Mr. Pip
Here is the live stream from today. https://youtu.be/UhmKBWo9ESM
I was listening to the video with headphones on and volume 100% when suddenly my eardrums where blown out
because Petra Hess from Petrapicks had something to say.

I still hope there's a fix for the low volume
  • #47,489
  • Aug 22, 2019 4:57pm Aug 22, 2019 4:57pm
Quoting PeterT
{quote} I was listening to the video with headphones on and volume 100% when suddenly my eardrums where blown out because Petra Hess from Petrapicks had something to say. I still hope there's a fix for the low volume
Time is an illusion, timing is an art.
  • #47,490
  • Aug 22, 2019 5:58pm Aug 22, 2019 5:58pm
Mr. Pip... I currently am trading forex with mt4 platform. Just an observation on rotation using a tick chart on Ninja Trader. I have seen many times in your thread and on live streams people mention that they don't have a rotation candle like you do on your chart. Your explanation is that it is because of the different times you open your chart and how it loads. This would lead me to believe getting a rotation candle may not be that important since you may not get one and I might or visa versa. I know you will do proper back testing to come up with right way to trade this situation, but that is my 2 cents. Thank you for all you do and have done for me and everyone else. Keith
  • #47,491
  • Aug 22, 2019 6:08pm Aug 22, 2019 6:08pm
Quoting Dropplan
"One day, in retrospect, the years of struggle will strike you as the most beautiful."
Then you challenge yourself with a small account and relive them. Love it! Thank you for the awesome quotes. I think you should write a book!
If you fail to plan, you plan to fail.
  • #47,492
  • Aug 22, 2019 6:11pm Aug 22, 2019 6:11pm
Quoting PeterT
{quote} I was listening to the video with headphones on and volume 100% when suddenly my eardrums where blown out because Petra Hess from Petrapicks had something to say. I still hope there's a fix for the low volume
Working on it my friend
If you fail to plan, you plan to fail.
  • #47,493
  • Aug 22, 2019 6:13pm Aug 22, 2019 6:13pm
Quoting Keith0609
Mr. Pip... I currently am trading forex with mt4 platform. Just an observation on rotation using a tick chart on Ninja Trader. I have seen many times in your thread and on live streams people mention that they don't have a rotation candle like you do on your chart. Your explanation is that it is because of the different times you open your chart and how it loads. This would lead me to believe getting a rotation candle may not be that important since you may not get one and I might or visa versa. I know you will do proper back testing to come up...
You have a big big point there thank you!
If you fail to plan, you plan to fail.
  • #47,494
  • Aug 22, 2019 6:15pm Aug 22, 2019 6:15pm
Quoting Mr. Pip
{quote} Then you challenge yourself with a small account and relive them.
  • #47,495
  • Aug 22, 2019 7:19pm Aug 22, 2019 7:19pm
Quoting Keith0609
Mr. Pip... I currently am trading forex with mt4 platform. Just an observation on rotation using a tick chart on Ninja Trader. I have seen many times in your thread and on live streams people mention that they don't have a rotation candle like you do on your chart. Your explanation is that it is because of the different times you open your chart and how it loads. This would lead me to believe getting a rotation candle may not be that important since you may not get one and I might or visa versa. I know you will do proper back testing to come up...
I stopped using rotation candles last year in favor of what Mr.Pip calls absorption. My entries started making marked improvements. I realized that no matter what chart is being looked at either time or tick, that price moves and stops in all the same places. Tick charts are great for fine tuning entries, just like higher time charts are great for showing a large buying or selling interest in a short time.

I did post some charts a few pages back on entering on what is called absorption, but I just called it candlestick confluence something, but maybe calling it absorption/distribution is a better name for it.

Isn't it great how we can all learn from each other?
Luck has no place in trading. Leave that for the poker table.
  • #47,496
  • Aug 22, 2019 8:12pm Aug 22, 2019 8:12pm
Quoting Pair-me-up
{quote} I stopped using rotation candles last year in favor of what Mr.Pip calls absorption. My entries started making marked improvements. I realized that no matter what chart is being looked at either time or tick, that price moves and stops in all the same places. Tick charts are great for fine tuning entries, just like higher time charts are great for showing a large buying or selling interest in a short time. I did post some charts a few pages back on entering on what is called absorption, but I just called it candlestick confluence something,...
That's what its all about! We all learn here. That is why this is the best thread ever! I may be a bit bias but what the hell this is our home and it's the place to be!
If you fail to plan, you plan to fail.
  • #47,497
  • Aug 22, 2019 8:13pm Aug 22, 2019 8:13pm
There is no post session review today as I did not get any entries. Instead I'm working on the stupid audio issues. Wish me well.
If you fail to plan, you plan to fail.
  • #47,498
  • Aug 22, 2019 8:20pm Aug 22, 2019 8:20pm
Quoting Mr. Pip
There is no post session review today as I did not get any entries. Instead I'm working on the stupid audio issues. Wish me well.
Mr.Pip you should ask your pro friends if they have any recommendations on candle reading wizards from history or current day that we can reference for help with the rotation candle conundrum.

i have a vision of combining harmonics with candle reading/price reading which I feel your methodology does a solid way of meshing.
  • #47,499
  • Aug 22, 2019 8:22pm Aug 22, 2019 8:22pm
I’m pretty sure candlestick charts were invented in like the 18th century so there’s gotta be more schools of thought that evolved from that for price action reading
  • #47,500
  • Aug 22, 2019 10:54pm Aug 22, 2019 10:54pm
Quoting standrdtrde
I’m pretty sure candlestick charts were invented in like the 18th century so there’s gotta be more schools of thought that evolved from that for price action reading
Is Mr. Pip the reincarnation of this guy?---> Just look at the way of thinking and what Mr. Pip teaches and Mr. Honma. ha ha ha just kidding. But they do teach the same way. And the cool thing is that Japanese candles were created specifically for Futures, which is what we are trading.

Munehisa Homma (本間 宗久 Honma Munehisa) (also known as Sokyu Homma, Sokyu Honma) (1724-1803) was a rice merchant from Sakata (https://en.wikipedia.org/wiki/Sakata,_Yamagata), Japan (https://en.wikipedia.org/wiki/Japan) who traded in the Dojima Rice market in Osaka (https://en.wikipedia.org/wiki/Osaka) during the Tokugawa Shogunate (https://en.wikipedia.org/wiki/Tokugawa_Shogunate). He is sometimes considered to be the father of the candlestick chart (https://en.wikipedia.org/wiki/Candlestick_chart).
Around 1710, a futures (https://en.wikipedia.org/wiki/Futures_contract) market emerged for rice, which had previously been traded exclusively on the spot. This system used coupons, promising delivery of rice at a future time. From this, a secondary market (https://en.wikipedia.org/wiki/Secondary_market) of coupon trading emerged in which Munehisa flourished. Stories claim that he established a personal network of men about every 6 km between Sakata and Osaka (a distance of some 600 km) to communicate market prices.[1] (https://en.wikipedia.org/wiki/Homma_Munehisa#cite_note-1)
In 1755, he wrote (三猿金泉秘録, San-en Kinsen Hiroku, The Fountain of Gold - The Three Monkey Record of Money), the first book on market psychology (https://en.wikipedia.org/wiki/Behavioral_finance). In this, he claims that the psychological aspect of the market is critical to trading success and that traders' emotions have a significant influence on rice prices. He notes that recognizing this can enable one to take a position against the market: "when all are bearish, there is cause for prices to rise"[2] (https://en.wikipedia.org/wiki/Homma_Munehisa#cite_note-2) (and vice versa).
He describes the rotation of Yang (a bull market (https://en.wikipedia.org/wiki/Bull_market)), and Yin (a bear market) and claims that within each type of market is an instance of the other type. He appears to have used weather and market volume as well as price in adopting trading positions.
Some sources claim he wrote two other books (酒田戦術詳解, Sakata Senjyutsu Syokai, A Full Commentary on the Sakata Strategy) and (本間宗久相場三昧伝, Homma Sokyu Soba Zanmai Den, Honma Sokyu --- Tales of a Life Immersed in the Market)
Luck has no place in trading. Leave that for the poker table.
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