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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

  • #49,321
  • Apr 20, 2020 9:36am Apr 20, 2020 9:36am
Quoting coolwata34
Noob question, I'm pretty new to harmonics, but not trading. when using harmonics, if XD=.786 in theory, but it equals a fib level of .69 or say .85 would it still be considered valid? or do harmonics need to be exact fib levels? I have looked at many patterns and realized some have ranges, and some use exact numbers, I'm wondering if any of these levels have wiggle room? Of course I would just adjust my r/r respectively. I'm just trying to get a better grasp on harmonics and expand my tool box. Thank You
Coolwata34 I can tell you that Damian likes to use +/- 3% when deciding whether or not price fits a specified pattern.

See Mr. Pip's rules of engagement for each pattern
https://www.forexfactory.com/showthread.php?p=7875837#post7875837
https://www.forexfactory.com/attachment.php/1551738?attachmentid=1551738&d=1416192765
  • #49,322
  • Edited 2:07pm Apr 20, 2020 10:37am | Edited 2:07pm
Trade #2 and 3 and 4 and 5
#4 and 5 are a bit less obvious but were entries based on the bigger swing on the left

-2.25 on the 6th trade
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  • #49,323
  • Apr 20, 2020 2:47pm Apr 20, 2020 2:47pm
I want a fill above 1.4160 to 1.4185 which would line up with resistance. I don't use limits, i want to look at price action once we get up there.
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If it doesn't happen in the next 3 hours then i'll forget about it and move on.
  • #49,324
  • Apr 20, 2020 6:21pm Apr 20, 2020 6:21pm
Can't consider this pattern if price is in the dark blue area, need to get above that line before the time runs out and up to 1.4175 or no dice.
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  • #49,325
  • Apr 20, 2020 10:24pm Apr 20, 2020 10:24pm
whatever happened to Mr Pip... anyone know?
  • #49,326
  • Apr 21, 2020 8:23am Apr 21, 2020 8:23am
Quoting Chalky600
whatever happened to Mr Pip... anyone know?
Well his youtube is dead, posts are dead, all happened at the same time as if he went "offline" .. i can only image he's probably not even trading at this point.
  • #49,327
  • Apr 21, 2020 2:16pm Apr 21, 2020 2:16pm
Quoting 2020DowJones
{quote} Kayjay, I've been given some very good advice from my mentor (My Dad). He recommends leaving forex factory and closing my Youtube channel. So before I leave forex factory and close my channel there are a few things I need to say. What I'm going to say is in regards to Day Trading, Not Investing long term. Now Kayjay, I take offense to a couple of things you've posted. The first being this post: "Looks like what I used to do 3 years ago when I started trading Forex", not even close! Not only is it disrespecting my hard work developing myself...

The same reason this user left the community is probably the same reason OP is afk. When someone put hours in order to share his knowledge and skills he acquired after thousand of hours it would really help them to continue doing it by showing them a bit of gratitude if you dont have anything nice to say why bother say it ? in a random thread or .... just my 2 cents
  • #49,328
  • Apr 21, 2020 5:49pm Apr 21, 2020 5:49pm
Everyone who trades (when they execute their trades) believes they are right. The problem with traders voicing an opinion is that the majority of people will not agree with them (which is a fine opinion to have, nothing is wrong with that)... but then you get all the banter that follows it back and forth.. "if you expect me to do that, then show me 3 years of bank statements" and crap like that ... lol so yeah, thats why talking to traders that all share a different opinion on how something should be done is difficult and you get the banter and frustration that comes out in people.
  • #49,329
  • Apr 22, 2020 2:46am Apr 22, 2020 2:46am
Quoting appletrader
Everyone who trades (when they execute their trades) believes they are right. The problem with traders voicing an opinion is that the majority of people will not agree with them (which is a fine opinion to have, nothing is wrong with that)... but then you get all the banter that follows it back and forth.. "if you expect me to do that, then show me 3 years of bank statements" and crap like that ... lol so yeah, thats why talking to traders that all share a different opinion on how something should be done is difficult and you get the banter and...
I totally agree on the first part and i also totally understand that "show me bank statements" mentality of some people, but not in this case. The guy in the case of the OP and the 2020DowJones , did not try to sell anything neither he forced someone to be here. He was doing his thing minding his business and gave an insight of his trading just in case anyone could benefit or in order to create a sense of community that it could mind help him and others grow. Although from what i get in the end caused more frustration and anxiety on top of the default a trader has to deal with. The normal thing would be to release that frustration to guru traders on Fb and on ad chat rooms that is highly likely that probably let them to free forums like this after taking all their money selling them crap and not on traders like OP (profitable or not) that in the end have only to loose by putting themselves in the spotlight
  • #49,330
  • Apr 22, 2020 10:47am Apr 22, 2020 10:47am
Breakeven so far
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  • #49,331
  • Apr 22, 2020 12:07pm Apr 22, 2020 12:07pm
-2.5 and +2.75, very similar setups
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  • #49,332
  • Apr 23, 2020 1:05am Apr 23, 2020 1:05am
Quoting 2020DowJones
{quote} Kayjay, I've been given some very good advice from my mentor (My Dad). He recommends leaving forex factory and closing my Youtube channel. So before I leave forex factory and close my channel there are a few things I need to say. What I'm going to say is in regards to Day Trading, Not Investing long term. Now Kayjay, I take offense to a couple of things you've posted. The first being this post: "Looks like what I used to do 3 years ago when I started trading Forex", not even close! Not only is it disrespecting my hard work developing myself...
This user probably left, but you probably don't have access to level 2 data, so what's the point making these statements. We only have candlesticks to go by, and our trading plans and strategies are based on them.
  • #49,333
  • Apr 23, 2020 4:23am Apr 23, 2020 4:23am
Was late to the trade. The last leg momentum is worrying and have lowered my risk accordingly. Structure left of chart is good however.
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As the lights go by so too do the shadows move
  • #49,334
  • Apr 23, 2020 5:42am Apr 23, 2020 5:42am
Quoting Matts Micro
Was late to the trade. The last leg momentum is worrying and have lowered my risk accordingly. Structure left of chart is good however. {image}
Harmonics are singing to me in the lower structure. Momentum is still a little strong to the down side. Added to position.
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As the lights go by so too do the shadows move
  • #49,335
  • Apr 23, 2020 6:20am Apr 23, 2020 6:20am
Quoting Matts Micro
Was late to the trade. The last leg momentum is worrying and have lowered my risk accordingly. Structure left of chart is good however. {image}
Plotted my course but still hit rocks... That momentum wasn't to be messed with.
Next trade.
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As the lights go by so too do the shadows move
  • #49,336
  • Apr 23, 2020 6:29am Apr 23, 2020 6:29am
This is my next trade in the making.
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As the lights go by so too do the shadows move
  • #49,337
  • Apr 23, 2020 7:30am Apr 23, 2020 7:30am
Quoting Matts Micro
This is my next trade in the making. {image}
Entry triggered.
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As the lights go by so too do the shadows move
  • #49,338
  • Apr 23, 2020 7:57am Apr 23, 2020 7:57am
Quoting Matts Micro
{quote} Entry triggered. {image}
On my watch list too , but the reaction is too strong and decided to wait and see.
  • #49,339
  • Apr 23, 2020 8:16am Apr 23, 2020 8:16am
Quoting 6288monkey
{quote} On my watch list too , but the reaction is too strong and decided to wait and see.
Yup a couple of strong momentum candles but I decided to go with the limit order. Will monitor.
As the lights go by so too do the shadows move
  • #49,340
  • Apr 23, 2020 9:33am Apr 23, 2020 9:33am
Quoting Matts Micro
{quote} Entry triggered. {image}
Out with a second loss for day. PA not happy until hit that .6400 mark.
Previous trade lately hit the my would-be profit levels. Some say its just news but the market was evidently moving in that direction. Pity it took me out first.
Next trade.
As the lights go by so too do the shadows move
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