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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

  • #49,201
  • Feb 27, 2020 8:41am Feb 27, 2020 8:41am
First trade of the night for me here in Asia.
Attached Image (click to enlarge)
Click to Enlarge Name: MYM 03-20 (14 Tick).png Size: 50 KB
Luck has no place in trading. Leave that for the poker table.
  • #49,202
  • Feb 27, 2020 5:27pm Feb 27, 2020 5:27pm
Quoting Ebenol
Don't go thinking Damian doesn't read the forum o, all he as to do is brows in a private window
I bet you're right. Someone doesn't go posting for years and years and then just stop. If you look at the past 3 months of youtube/ff stuff you'll probably come to the same conclusion. he wants to post but he's not allowed. Guess well find out in time if i'm right.
  • #49,203
  • Edited 1:30am Feb 28, 2020 1:18am | Edited 1:30am
Quoting Pair-me-up
First trade of the night for me here in Asia. {image}
Taking a winning trade requires no skill at all
  • #49,204
  • Feb 28, 2020 1:46am Feb 28, 2020 1:46am
Quoting Ebenol
{quote} Taking a wining trade requires no skill at all.

Will you explain how my entry has zero draw down and why taking a winning trade requires no skill?

I can think of one thing that requires little to know skill.... the e-mails that come out of Nigeria, claiming that they are trying to get millions of dollars out of the country and they need your help.

Nigeria is famous for e-mail scams. Pushing a button to send a scam e-mail requires no skill. ha ha ha

By the way, after the Mark Douglas book, I think considering how highly and oft mentioned this book is, I was rather unimpressed. The authors main points are fine and good. But boy does he ramble and bullshit. There is so much bad science and pop psychology in this book. And many times he says things like, "I wont go into depth about this," but then he rambles about that or another subject.

For instance about 3/4th of the way into the book he spends time talking about what a trend is and how to identify it. Seriously? Not only should the reader already have such elementary knowledge before reading this book, he contradicts himself by giving any time to such matters.

The bottom line is that there is nearly too much hot air in this book to make it worth it. You could read it and not be worse off, and you can always skim (and not miss a thing), as I resulted too, but if you're serous about trading and education you'll probably learn the same in a better manner elsewhere.
Luck has no place in trading. Leave that for the poker table.
  • #49,205
  • Feb 28, 2020 1:50am Feb 28, 2020 1:50am
Quoting Ebenol
{quote} Taking a winning trade requires no skill at all
One more thing.. below my post you can see in red writing.. "Luck has no place in trading. Leave that for the poker table."

So, try to increase your E.Q.

Don't chase price.

Let price come to your area of interest.

Since you like reading books.. I suggest the book

"How to Win Friends and Influence People"
by
Dale Carnegie (https://www.goodreads.com/author/show/3317.Dale_Carnegie)
Luck has no place in trading. Leave that for the poker table.
  • #49,206
  • Feb 28, 2020 3:39am Feb 28, 2020 3:39am
Quoting Pair-me-up
{quote} Will you explain how my entry has zero draw down and why taking a winning trade requires no skill? I can think of one thing that requires little to know skill.... the e-mails that come out of Nigeria, claiming that they are trying to get millions of dollars out of the country and they need your help. Nigeria is famous for e-mail scams. Pushing a button to send a scam e-mail requires no skill. ha ha ha By the way, after the Mark Douglas book, I think considering how highly and oft mentioned this book is, I was rather unimpressed. The authors...
This is the guy that got fired from a chinese company for telling a chinese joke to a chinese guy
u don't need to announce it we can all tell u are Disabled.
  • #49,207
  • Feb 28, 2020 5:09am Feb 28, 2020 5:09am
Quoting Ebenol
{quote} This is the guy that got fired from a chinese company for telling a chinese joke to a chinese guy u don't need to announce it we can all tell u are Disabled.
ha ha ha....

That's cool.

Thanks for the entertainment.

When you say "we can all tell u are Disabled." I can only assume that when you refer to yourself while using a plural pronoun, that you are talking about all the voices in your head.

Ha ha ha....



I will continue to focus on the purpose of this thread, which is Mr.Pip's style of TA.

Do put me on ignore as a favor to yourself. After all, I don't want you or any of your like minded personalities to have to suffer with my disability that is only in your mind.

Have an awesome day and good luck to you.
Luck has no place in trading. Leave that for the poker table.
  • #49,208
  • Feb 28, 2020 5:39am Feb 28, 2020 5:39am
Quoting Pair-me-up
{quote} ha ha ha.... That's cool. Thanks for the entertainment. When you say "we can all tell u are Disabled." I can only assume that when you refer to yourself while using a plural pronoun, that you are talking about all the voices in your head. Ha ha ha.... I will continue to focus on the purpose of this thread, which is Mr.Pip's style of TA. Do put me on ignore as a favor to yourself. After all, I don't want you or any of your like minded personalities to have to suffer with my disability that is only in your mind. Have an awesome day and good...
I don't need Luck and i chose not to av problem with Disabled people
  • #49,209
  • Feb 28, 2020 7:34am Feb 28, 2020 7:34am
To all the trolls that have recently popped up, i assure you that your time is being wasted here. All the material presented in this thread by Damian, both the technical and the psychological has tremendous value. The reasoning and logic behind his teachings are the foundations for many profitable traders. Furthermore, of all the people I've ever met through this journey and business, Damian is the most open & honest, which from my experience are two qualities that are generally inversely related.
  • #49,210
  • Feb 28, 2020 10:17am Feb 28, 2020 10:17am
Quoting Nik-Nyc
To all the trolls that have recently popped up, i assure you that your time is being wasted here. All the material presented in this thread by Damian, both the technical and the psychological has tremendous value. The reasoning and logic behind his teachings are the foundations for many profitable traders. Furthermore, of all the people I've ever met through this journey and business, Damian is the most open & honest, which from my experience are two qualities that are generally inversely related.
Absolutely Agree
  • #49,211
  • Feb 28, 2020 11:35am Feb 28, 2020 11:35am
In the last week I had started reading through the thread which I noticed went back to 2012. Got through the first few hundred posts and zipped to the end to see what might be new. I was honestly surprised to see the thread starter after 7 years just vanished and I can certainly understand the recent conversations from the last few posts I fast forward too.

Most people when they leave a platform always post "i'm leaving youtube for good" or "i'm not coming back because of the trolls" but this guy after 7 years just left? Seems odd too because most of his youtube videos were recent as if he was trying to build a following. Sure, everyone has a right after contributing to up and go, but you think most would post why they are leaving after making such a long investment of their own time. It's not a debate on if the system is good or not, but just how "odd" the situation is in my view.

As i mentioned at the top, i'm very new to the tread so i'm not a hater or a lover, it's just a non-bias observation. If this thread was a song being played on a piano, there was a very odd chord that was just played. Or maybe he just made his millions and headed to some island without internet.
  • #49,212
  • Feb 28, 2020 4:00pm Feb 28, 2020 4:00pm
Quoting Pair-me-up
First trade of the night for me here in Asia. {image}
Hellow Pair-me-up I don't want to judge about your skills or any luck involved.
The entry on it's own is remarkable, just for the fact that it had zero drawdown.
I know not all your trades are like this. But I couldn't even do that if I tried 1000 times

Also, you seemed pretty confident in the trade, because price came back deep and you held on to it.
I would expect there to be a solid reason for entering and solid reason for holding on to the trade, eventhough it was retracing that deeply.
So I'm thinking: strong structure, confluence of multiple fibs or 1:1 completions, strong harmonic pattern completion..
But I couldn't find anything

There is some structure to the far left, but not unusually strong?
No important 1:1 completions that I can see, no important fibonacci levels, let alone confluence of multiple
What am I missing? Please enlighten me thank you
grtz Peter
  • #49,213
  • Feb 28, 2020 7:13pm Feb 28, 2020 7:13pm
Quoting PeterT
{quote} Hellow Pair-me-up I don't want to judge about your skills or any luck involved. The entry on it's own is remarkable, just for the fact that it had zero drawdown. I know not all your trades are like this. But I couldn't even do that if I tried 1000 times Also, you seemed pretty confident in the trade, because price came back deep and you held on to it. I would expect there to be a solid reason for entering and solid reason for holding on to the trade, eventhough it was retracing that deeply. So I'm thinking: strong structure, confluence...
My thoughts exactly, looked at it last night.

Good to see you dude!
Wow! I've got some experience to gain.
  • #49,214
  • Feb 28, 2020 8:33pm Feb 28, 2020 8:33pm
Quoting PeterT
{quote} Hellow Pair-me-up I don't want to judge about your skills or any luck involved. The entry on it's own is remarkable, just for the fact that it had zero drawdown. I know not all your trades are like this. But I couldn't even do that if I tried 1000 times Also, you seemed pretty confident in the trade, because price came back deep and you held on to it. I would expect there to be a solid reason for entering and solid reason for holding on to the trade, eventhough it was retracing that deeply. So I'm thinking: strong structure, confluence...

Your question of what are you missing....well.. you answered your own question in your own post.

Remember what Mr. Pip has said.. Structure is the king. And Yes, confluence is extremely important.

Mr. Pip has taken the time to make a few videos on structure analysis.

You are right that not all my trades are like this. However, I have had a trade like this almost everyday this week regardless of this crazy ass market. And I was profitable every day this week except for Tuesday in which I forgot to take my platform out of simulation mode.

Mr. Pip has three youtube channels. In one of his older videos, he talks about what he does for "wealth building". And it isn't the 233 tick chart either. So, I took that to heart and started to focus on that.

For Fibonacci, I would recommend that you watch the videos that CNTrader made. After I started to analyse his material, which wasn't easy, but with time things started to become more clear. CNTrader claims to have around a 90% accuracy rate.

Also, study the charts of evo and jaytrader.

Also, as far as my charts. well... I often see traders ask other traders to post their numbers of where they enter the market, yet don't do so themselves. I am sure that I am one of the only ones here besides Mr.Pip who have posted play by plays that show where we entered the market and posted screen shots along with the market action.

Not too long ago, I also posted some important questions that were a huge clue into what I do, yet crickets.

Also, I posted two charts that I marked up that go into sharp detail of what I do. Mr. Pip actually encouraged me to share it with the thread. Yet crickets.

Also, there is a trader that used to be on FF named Cloggie. He has a lot of content. I often search through his comments like it was an encyclopedia of the market.

So, I think if you go back to what I have posted and actually study it along with all that I have mentioned in this post and you go back to the questions that I posted within the last week or so, and write those questions down to ponder while reviewing all that I have mentioned, you will see that I just followed what I learned from the traders I mentioned above. If an individual can't answer those questions, then they really may have over looked something from Mr.Pip's video and other successful traders.

If I am out of line, then my most humble apologies.
Luck has no place in trading. Leave that for the poker table.
  • #49,215
  • Feb 29, 2020 9:25am Feb 29, 2020 9:25am
For those into psychology like Mark Douglas, or for you that use indicators, I thought you might like to take a look at one of my favorite indicators.

https://magic-8ball.com/ However, use it at your own discretion. Past performance is no guarantee of future results. ha ha ha ha
Luck has no place in trading. Leave that for the poker table.
  • #49,216
  • Feb 29, 2020 11:44am Feb 29, 2020 11:44am
Mr Pip swing strategy:

1. Swing Definition - projection, at least .382 retracement, requalifying large swings.....
2. AOI - minimum .382 retracement, previous structural area, IoF 1 to 1 into AOI, etc.....
3. Entry - absorption, rotation
4. Stop - below swing, below area.....
5. BE - move to BE at test of NSX
6. Target - 1 to 1 projection, 1.27 extension
7. Trailing - “decision” candles
8. Trading hours - ???
9. Trading Conditions - Identifying/avoiding range bound PA

Each of these 9 bullet points are designed to provide an “edge”.
In order for you to decide whether each does in fact provide an edge in the market you must backtest variations of each element within the context of the strategy.

It is not really good enough to say “trailing at the 1.27 is best” unless you’ve also tested other extensions.
Or “don’t trade lunch” unless you’ve backtested lunch.

I’d encourage you to start an excel book.
For each trade you take, log the result for different variations of each element in the strategy.
1. What if I required minimum 50% retracements, my entry would’ve then been x
2. What if I hadn’t moved to BE my result would’ve been x
3. What if I trailed at x% or y% or z%

Now do this for say a minimum of a year via backtest and every trade you take forward testing.
Compare results and decide for yourself Which elements provide an edge and which variation of each element currently provides the best expectancy.

If you cannot qualify any 1 element as an edge, drop it, as it has only for you become a filter. Filters reduce frequency, and for profitable strategies, reduction of frequency reduces results.
  • #49,217
  • Feb 29, 2020 3:57pm Feb 29, 2020 3:57pm
Quoting Pair-me-up
{quote} Your question of what are you missing....well.. you answered your own question in your own post. Remember what Mr. Pip has said.. .. .... ... ... ... ... ... ... ... ... ... ... If an individual can't answer those questions, then they really may have over looked something from Mr.Pip's video and other successful traders. If I am out of line, then my most humble apologies.
Such a long winded answer to not answer the question.

I didn't ask where I could learn trading techniques in general.
I was just interested in your reasons for entering in this particular trade.
I'm asking you as a medium experienced trader, I don't need recommendations for books or courses, nor do I need a list of the questions that go through your mind.
I just couldn't find why you entered and why you were so confident, that's all.

If you don't want to answer it, just say so, no need to get all winded up
  • #49,218
  • Feb 29, 2020 8:11pm Feb 29, 2020 8:11pm
Quoting PeterT
{quote} Such a long winded answer to not answer the question. I didn't ask where I could learn trading techniques in general. I was just interested in your reasons for entering in this particular trade. I'm asking you as a medium experienced trader, I don't need recommendations for books or courses, nor do I need a list of the questions that go through your mind. I just couldn't find why you entered and why you were so confident, that's all. If you don't want to answer it, just say so, no need to get all winded up ...

Peter T,

The list of questions are what I ask myself when looking at the chart. If you can't answer those questions, then you still have lot to learn.

The reason that you couldn't find why I entered and why I was so confident, is because you don't understand Mr.Pip's structure analysis, projection, momentum, and depth videos. And when I try to point you to Mr. Pip's lessons, and how I use them by asking myself those questions to keep me focused on what I have learned, you just feel that it is a long winded answer.

As I recall, you seem to like the post that Ebenol posted about ...basically how my TA is bullshit and I should put it in my pocket, etc and read that Mark Douglas book. So, you liking that post showed me that you don't really care to know what I know. Despite your crass response, I have still gone out of my way to point you in the right direction.

Like the saying goes, you can bring a horse to water, but you can't make it drink.

Peter T.. I am all petered out on explaining the obvious to you. Look at my charts. Read the notes that I posted in a word document on this thread and the other charts that I posed with plenty of commentary on the charts. I wish you no ill will.

And to complain that someone gave you a long winded answer... hey, at least I took the time to answer you in a way, I felt could help you.

And last but not least....Stay disciplined, stay patient! Commit and Pay attention to your work ethic!

Enjoy, have fun, trade your plan, make a great day, do your own due diligence and may we all make bank! Game changing Bank!! The kind of Bank that makes you just Think and Grow!!
Luck has no place in trading. Leave that for the poker table.
  • #49,219
  • Mar 1, 2020 4:08am Mar 1, 2020 4:08am
Quoting Pair-me-up
{quote} Peter T, The list of questions are what I ask myself when looking at the chart. If you can't answer those questions, then you still have lot to learn. The reason that you couldn't find why I entered and why I was so confident, is because you don't understand Mr.Pip's structure analysis, projection, momentum, and depth videos. And when I try to point you to Mr. Pip's lessons, and how I use them by asking myself those questions to keep me focused on what I have learned, you just feel that it is a long winded answer. As I recall, you seem to...
Pair-me-up, like usual you avoid the questions asked by members. Instead of writing 2 long posts and beating around the bush, you could've written one post explaining your entry. I've known PeterT for some time now and he definitely knows what Damian has taught.
It seems that you like to brag about your "on point" entries but you never actually explain the process behind them in the same post with drawings on the chart. Peter T wants to learn so you could've easily given him an explanation. Aren't/ Weren't you a teacher in a school? It shouldn't be a difficult task considering your experience.
  • #49,220
  • Edited 6:20am Mar 1, 2020 6:08am | Edited 6:20am
Quoting x3m-PippiN
{quote} Pair-me-up, like usual you avoid the questions asked by members. Instead of writing 2 long posts and beating around the bush, you could've written one post explaining your entry. I've known PeterT for some time now and he definitely knows what Damian has taught. It seems that you like to brag about your "on point" entries but you never actually explain the process behind them in the same post with drawings on the chart. Peter T wants to learn so you could've easily given him an explanation. Aren't/ Weren't you a teacher in a school? It shouldn't...
X3m-PippiN, like your comrade, I can see that you are reaching out to me in your own special way.

I can write in anyway, I feel comfortable. Don't you believe in freedom of speech? As I mentioned, I have a word document and charts that I have posted with my reasoning. You and your comrade are welcome to go through my profile and dig them up. It is great that PeterT definitely knows what Damian has taught. Remember, Damian's goal is to teach how to read the charts with accuracy. Therefore, start using the chart reading skills that Damian has taught, because the answers are in the charts.

When a trader posts a chart and talks about their performance, I am happy for them. I think.. if they can do it, then so can I.

And yes, I am a teacher. However, on this thread I am a student. Mr. Pip is the teacher of this thread.

As you know, he often does videos, to explain charts that have been posted on his thread. If you are unwilling to study Mr.Pip's materials, then maybe ask Mr. Pip to explain my entry to you. Oh wait, you all definitely know what Damian has taught.

So as his student, you can see how I am trying to apply what I have learned from him. And that is to read the charts with accuracy.

As far as bragging...why brag that your comrade definitely knows what Damian has taught and then come hassle me? If you don't understand my charts based on structure analysis. I am not going to repost my docs that you can easily download from my profile, nor am I going to repost charts that I have comments on and price action marked and explained when ....again, you can just go to my profile and dig them out and study them.

You can attract more bees with honey than

x3m-PippiN Let's uplift each other. If you want to post a chart for others to study you have the freedom to do so. If you want to write commentary about your charts you have the freedom to do that as well.

Have a super day, and Stay disciplined, stay patient! Commit and Pay attention to your work ethic!

Enjoy, have fun, trade your plan, make a great day, do your own due diligence and may we all make bank! Game changing Bank!! The kind of Bank that makes you just Think and Grow!!
Luck has no place in trading. Leave that for the poker table.
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