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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

  • #61
  • Dec 27, 2012 12:01pm Dec 27, 2012 12:01pm
cad jpy to look for/
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Iam just A pips on the rode :nerd:
  • #62
  • Dec 27, 2012 12:02pm Dec 27, 2012 12:02pm
Quoting NuNix
I got it sir
What I do when price is in a PRZ and you want to wait for some bearish signal rather than enter a limit order blindly is go to a LTF like the M15 or even M5 and look for bearish signal. Someone might wait for a retest which it did about an hour after it's high of 1.3283, or just PA that confirms the buyers are drying up. The LTF gets you a little earlier.
Barry
  • #63
  • Dec 27, 2012 12:10pm Dec 27, 2012 12:10pm
Quoting -er-
same one toke thise one?
Hi er. If you could when you post be more detailed as to where you took a trade and why. On some of your charts your fibs seam wrong to me so we need to see what you're thinking so we all can learn. Keep your contributions coming!
Barry
  • #64
  • Dec 27, 2012 12:20pm Dec 27, 2012 12:20pm
I have used the korharmonics indi in the past but never really narrowed down the prz. I guess that is what Mr. Pip is going to teach me about!! I have always liked the Bat pattern but the others always took my money.
  • #65
  • Dec 27, 2012 12:36pm Dec 27, 2012 12:36pm
great thread, I also use Fib. retracement and extension levels as well as harmonic patterns. Unfortunately very often I leave many ticks (I trade futures) on the table. Any advice? Anyone please.
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Always trade your own plan...I don't provide trading signals.
  • #66
  • Dec 27, 2012 1:35pm Dec 27, 2012 1:35pm
Mr. PIP, wonderful thread and great explanation of harmonic patterns..... I have understood the concept of main swing and dormant swing...... however you have not yet explained details of how to use FIBs and identify the confluence area with it.....im still confused at your charts with numbers of fibs ur using and finding PRZ through it.. will appreciate if u can provide step by step process on how to use fibs with swings and dromant swing and identify pattern and prz......
I am really looking forward to it and learn this......pls do respond..

all ithe indicators i have used have only resulted in losses for me..... hoping this will help......

thank you.....
  • #67
  • Dec 27, 2012 1:52pm Dec 27, 2012 1:52pm
Target hit as mentioned earlier. Poss 75 green pips now give me some time to catch up and answer questions. Thanks!
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If you fail to plan, you plan to fail.
  • #68
  • Dec 27, 2012 1:55pm Dec 27, 2012 1:55pm
From earlier post too. Okay this time I mean it. I'm going to catch up. LOL
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If you fail to plan, you plan to fail.
  • #69
  • Dec 27, 2012 1:58pm Dec 27, 2012 1:58pm
Quoting NuNix
so the dominant swing is located between high-low the main swing, and the main swing will failed if the dominant swing through that high/low?
Yes, and the patterns all utilize some combination of these swings. A failure of a swing may invalidate a particular pattern but will open the door to another we will talk more about that when we get to the patterns.
If you fail to plan, you plan to fail.
  • #70
  • Dec 27, 2012 2:01pm Dec 27, 2012 2:01pm
Quoting NuNix
I got it sir
It most certainly can be. give me a few and we will discuss price action in the PRZ. I want to make sure we have the swing concept nailed down.
If you fail to plan, you plan to fail.
  • #71
  • Dec 27, 2012 2:09pm Dec 27, 2012 2:09pm
Quoting gbryant20
This seems to be a very interesting thread. I have used harmonics a little in the past but never really understood how to trade them. I hope to learn more here. May I ask what harmonics indi are you using or would recommend?
I do not use and indicators. I believe they are unreliable. Put the indicator a side and I will show you how they are no match for a properly trained trader. Stick around my friend. As you might have seen the entry and profit target were hit with extreme accuracy and without any indicators on the EU. That's what you can expect from Harmonics.

Regards,

Mr. Pip
If you fail to plan, you plan to fail.
  • #72
  • Dec 27, 2012 2:13pm Dec 27, 2012 2:13pm
Quoting Bary
What I do when price is in a PRZ and you want to wait for some bearish signal rather than enter a limit order blindly is go to a LTF like the M15 or even M5 and look for bearish signal. Someone might wait for a retest which it did about an hour after it's high of 1.3283, or just PA that confirms the buyers are drying up. The LTF gets you a little earlier.
Excellent Bary, well put! We will discuss this when we get to the PRZ.
If you fail to plan, you plan to fail.
  • #73
  • Dec 27, 2012 2:14pm Dec 27, 2012 2:14pm
Quoting Bary
Hi er. If you could when you post be more detailed as to where you took a trade and why. On some of your charts your fibs seam wrong to me so we need to see what you're thinking so we all can learn. Keep your contributions coming!

Agree, Please post charts and questions it makes answering the question easier. Keep then coming!!!!
If you fail to plan, you plan to fail.
  • #74
  • Dec 27, 2012 2:16pm Dec 27, 2012 2:16pm
Quoting gbryant20
I have used the korharmonics indi in the past but never really narrowed down the prz. I guess that is what Mr. Pip is going to teach me about!! I have always liked the Bat pattern but the others always took my money.

I will teach you how to qualify your patterns. Perhaps your other patterns need some cleaning up. if you can post a chart and we will discuss them.
If you fail to plan, you plan to fail.
  • #75
  • Dec 27, 2012 2:23pm Dec 27, 2012 2:23pm
Quoting Coreg2004
great thread, I also use Fib. retracement and extension levels as well as harmonic patterns. Unfortunately very often I leave many ticks (I trade futures) on the table. Any advice? Anyone please.
Well, what are your trade management rules? How do you manage your trades? There are many ways to skin this cat but I need to know what you are currently doing to better help you. It's okay to leave pip on the table as long as you followed your rules.

We can't always take the maximum favorable excursion.

Regards,

Mr. Pip
If you fail to plan, you plan to fail.
  • #76
  • Dec 27, 2012 2:24pm Dec 27, 2012 2:24pm
Mr Pip
Thanks for this thread.I thoroughly enjoy it.Is there a good book on harmonics you can recommend?
Thank you
In trading, you have to be defensive and aggressive at the same time
  • #77
  • Dec 27, 2012 2:29pm Dec 27, 2012 2:29pm
Quoting alij79
Mr. PIP, wonderful thread and great explanation of harmonic patterns..... I have understood the concept of main swing and dormant swing...... however you have not yet explained details of how to use FIBs and identify the confluence area with it.....im still confused at your charts with numbers of fibs ur using and finding PRZ through it.. will appreciate if u can provide step by step process on how to use fibs with swings and dromant swing and identify pattern and prz......
I am really looking forward to it and learn this......pls do respond.....
We will get into this soon I just want to make sure we are all on the same page with the swing identification process. I promise I will deliver but be patient.

Indicators may look cool but traders don't know how to use them. They have no value to my trading they have 0 predictive value and can only tell you what you should already know.
If you fail to plan, you plan to fail.
  • #78
  • Dec 27, 2012 2:34pm Dec 27, 2012 2:34pm
Quoting Davit
Mr Pip
Thanks for this thread.I thoroughly enjoy it.Is there a good book on harmonics you can recommend?
Thank you
Yes, This man is a pioneer in harmonics,

Harmonic Trading, Profiting from the Natural Order of the Finacial Markets by Scott Carney I do not have a digital copy or I would post it for you the book is a bit pricey but well worth the investment. He has a site where you can grab an earlier version of this book for free just visit and download the book. The new version is a more current. I'm glad you are enjoying this. I enjoy it too.

Regards,

Mr. Pip
If you fail to plan, you plan to fail.
  • #79
  • Dec 27, 2012 2:43pm Dec 27, 2012 2:43pm
I'm sorry I don't have much time but later on we will to talk about swings and start to introduce ratios.

I will checking in on the thread via mobile device so please post charts and questions.

Regards,

Mr. Pip.
If you fail to plan, you plan to fail.
  • #80
  • Dec 27, 2012 2:58pm Dec 27, 2012 2:58pm
It has been mentioned and eluted to that how often do these patterns occur and if it is missed one could look to a different time frame. As I mentioned in the beginning, harmonics have no boundaries they apply to any timeframe or instrument. The question is really what are you comfortable with? How busy do you want to be and how much chart time do you have as a trader?


You have to address this early in your career. What are your hours of operation? Then you can identify a timeframe that gives you the best possibilities based on whatever system you chose to trade. It makes little sense that if you only have two hours in a day to trade that you look for setups on a 4H chart. Sure they will come but you will miss a lot more then you grab. Make sense?
If you fail to plan, you plan to fail.
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