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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

  • #181
  • Dec 28, 2012 5:32pm Dec 28, 2012 5:32pm
Quoting Ed777
Mr. Pip

This is really fantastic stuff ....and an eye opener regarding a new way to trade and view charts Your videos are very helpful. If you get a chance...more videos would be wonderful if you could go through step by step process from X A through D to PRZ. I am getting a bit confused on how often to draw additional fib retracements or fib extensions after leg "A" is established.

Very grateful for your time and sharing

Ed
Follow the steps again if you are still confused we can do it again.I have to see about making a video. At the time I had a trial version and that expired.
If you fail to plan, you plan to fail.
  • #182
  • Dec 28, 2012 5:35pm Dec 28, 2012 5:35pm
Quoting Bary
Mine look like this.
Thanks Bary
If you fail to plan, you plan to fail.
  • #183
  • Dec 28, 2012 5:38pm Dec 28, 2012 5:38pm
I will hold off on going into the PRZ until I feel we all understand the material so far. I was expecting more comments.
If you fail to plan, you plan to fail.
  • #184
  • Dec 28, 2012 5:54pm Dec 28, 2012 5:54pm
Quoting Mr. Pip
I will hold off on going into the PRZ until I feel we all understand the material so far. I was expecting more comments.
I was at work today when you where posting the information. Unfortunately, due to that, I could only take brief minutes to look at it between keeping the boss happy. That's not good enough. My plan... Well, tonight is family night. That always comes first. But tomorrow morning, my plan is look at this in detail. I'll post some comments and questions at that time. Sound good?
  • #185
  • Dec 28, 2012 5:57pm Dec 28, 2012 5:57pm
Quoting Nate04
I was at work today when you where posting the information. Unfortunately, due to that, I could only take brief minutes to look at it between keeping the boss happy. That's not good enough. My plan... Well, tonight is family night. That always comes first. But tomorrow morning, my plan is look at this in detail. I'll post some comments and questions at that time. Sound good?
Sounds great one day you will be your own boss. I did have done it so can you!
If you fail to plan, you plan to fail.
  • #186
  • Dec 28, 2012 5:58pm Dec 28, 2012 5:58pm
First off I wanted to thank Mr Pip for starting this thread. As a seasoned trader all I have to do is read a few posts and I can tell when someone knows what he is talking about. In my opinion Mr Pip is the real deal and we all can learn alot from him if we are patient enough to hear the message.

I've been around FF for a number of years and I've seen people like Mr Pip start threads with the best of intentions. Typically what happens is some rude and ungreatful member of FF starts abusing the thread starter or the members of the thread just get too demanding and the thread starter gets frustrated or pissed off and closes the thread.

I know I'm no one special to tell anyone what to do or how to act but I would suggest to the thread members, please slow down and follow Mr Pips plan to teach you how to use harmonic patterns. I would venture to guess that 90% of the people reading this thread don't know much about identifying harmonic patterns and know even less about trading with them. I'm amazed at how many people are asking about getting into trades when Mr Pip hasn't even reviewed the basic pattern requirements or the parameters for taking a trade. If you keep asking questions like this and using up his valuable time and good nature, I would be willing to bet Mr Pip will be outta here within weeks as he'll realize that he doesn't need the aggravation and he could be making better use of his time making money trading.

I am writing this because I have my own self interest at heart, I am really interested in learning harmonic patterns and I want to keep Mr Pip engaged in his thread and make it something he enjoys and keeps doing. So I would suggest that people keep their questions relevant to the material that Mr Pip is covering.

Please do not take this as an attack on anyone on this thread, this is just my personal observation form the experiences I've had with other threads.

Again, I want to thank Mr Pip for taking the time to start this thread.
  • #187
  • Dec 28, 2012 6:22pm Dec 28, 2012 6:22pm
Mr. Pip, you state in one of your images that Gartley is greater than 61.8% for the C point and that the crab pattern is below 61.8% and above 50% but as we didn't close above 61.8%, would this still be a valid crab pattern if price was to go way down past where point D ended? also within the book it states a crab pattern can have a C point with range between 0.382 and 0.886?
  • #188
  • Dec 28, 2012 7:02pm Dec 28, 2012 7:02pm
Quoting ozziedave
First off I wanted to thank Mr Pip for starting this thread. As a seasoned trader all I have to do is read a few posts and I can tell when someone knows what he is talking about. In my opinion Mr Pip is the real deal and we all can learn alot from him if we are patient enough to hear the message.

I've been around FF for a number of years and I've seen people like Mr Pip start threads with the best of intentions. Typically what happens is some rude and ungreatful member of FF starts abusing the thread starter or the members of the thread just...
Thanks Dave I hope to be here a long time.
If you fail to plan, you plan to fail.
  • #189
  • Dec 28, 2012 7:15pm Dec 28, 2012 7:15pm
Quoting Rexz
Mr. Pip, you state in one of your images that Gartley is greater than 61.8% for the C point and that the crab pattern is below 61.8% and above 50% but as we didn't close above 61.8%, would this still be a valid crab pattern if price was to go way down past where point D ended? also within the book it states a crab pattern can have a C point with range between 0.382 and 0.886?
Good question and I'm glad someone brought this up. I will post the specific rules for each pattern when we get to that stage. What was done today was more for the steps involved and how to identify swings and how to draw the Fib. I used the Gartley for the example because it was what we were looking at since last night and it was fresh on our minds. I also promised to answer every question and I'm a man of my word.

The Gartley Pattern has to achieve a 61.8% retracement it can close past the 61.8 even the 78.6 but cannot close past the 78.6

The Crab Pattern has to achieve a 50% retracement but cannot violate the 61.8.

For me the rules are carved in stone and one invalidates the other and there would have to be other harmonic factors to look for a trading opportunity past D. I hope this aswers your question and clarifies the issue.
If you fail to plan, you plan to fail.
  • #190
  • Dec 28, 2012 7:28pm Dec 28, 2012 7:28pm
Mr. Pip

Have gone over several times and duplicated what you did on a chart and am now caught up to speed

Just wondering if there is a reason you use fibonacci 78.60 instead of 76.40 that seemed to be the default setting on ninjatrader ?

Also, I am glad that Dave shared his thoughts and am hopeful that future participants of this thread will maintain integrity and respect

Thanks again,

Ed
  • #191
  • Dec 28, 2012 7:36pm Dec 28, 2012 7:36pm
I read all your lessons over and over again. Thank you so much Mr.Pip and Happy New Year
Dangdut is a music of my country
  • #192
  • Dec 28, 2012 7:39pm Dec 28, 2012 7:39pm
Quoting Mr. Pip
I will hold off on going into the PRZ until I feel we all understand the material so far. I was expecting more comments.
Wow!!! (This is how I feel about your thread)

I just turned on the PC to have a look at the progress on EU and US/CAD, I couldn't work out why PRZ zone was in the 1.3165 zone, I was looking for an fib extension to be hit. As I was about to ask you a question, I read on on the 3-4 pages on the thread added since last night, and I found all the information I needed right there.

I have been lurking and learning from your explanations and everyone's contribution, and I don't like to ask, in case it has already been answered it and particularly since so many people are asking you questions.

But since you mentioned that you were expecting more comments, I thought I'd make a contribution.

So, I would like to start with the amazing job you are doing in your explanation of your way of trading. The recent explanation on ratios has got me hook, line and sinker. I cant wait to hear more about all the other patterns.

To any noobs out there, and not so noob, write it all down, have all the main points and explanations in front of your PC and practice it. This sort of stuff and teaching does not come around very often, we are privileged to have this type of training.

Many thanks Mr Pip, I may not comment often, but I am definitely paying attention. Please keep it coming, I am very excited about learning more and practicing it.
What you do is a reflection of you....what I do is a reflection of me.
  • #193
  • Dec 28, 2012 9:57pm Dec 28, 2012 9:57pm
Quoting Ed777
Mr. Pip

Have gone over several times and duplicated what you did on a chart and am now caught up to speed

Just wondering if there is a reason you use fibonacci 78.60 instead of 76.40 that seemed to be the default setting on ninjatrader ?

Also, I am glad that Dave shared his thoughts and am hopeful that future participants of this thread will maintain integrity and respect

Thanks again,

Ed

The 78.6 has more harmonic revelance and is more popular among ratio traders so price will also respect it more.
If you fail to plan, you plan to fail.
  • #194
  • Dec 28, 2012 10:00pm Dec 28, 2012 10:00pm
Quoting NuNix
I read all your lessons over and over again. Thank you so much Mr.Pip and Happy New Year
Happy New Year to all! Thank NuNix

You know what they say, repetition is the mother of skill. Great job!!!
If you fail to plan, you plan to fail.
  • #195
  • Dec 28, 2012 10:13pm Dec 28, 2012 10:13pm
Quoting Ezzy
Wow!!! (This is how I feel about your thread)

I just turned on the PC to have a look at the progress on EU and US/CAD, I couldn't work out why PRZ zone was in the 1.3165 zone, I was looking for an fib extension to be hit. As I was about to ask you a question, I read on on the 3-4 pages on the thread added since last night, and I found all the information I needed right there.

I have been lurking and learning from your explanations and everyone's contribution, and I don't like to ask, in case...
Thank you for your kind words. I had to learn all this the painful way and love to help traders get on a proper path to profitable trading. There's a lot of crap out there and many traders fall into the trap. I'm here to help you and anyone who truly wants to learn how to trade like a professional get there quicker and with less pain.

Trading for me is a way of life it is my business it is what I do. It provides me with a lifestyle many wish they could have. I'm living proof that it is possible the question is? How hungry are you? How bad do you want this?
If you fail to plan, you plan to fail.
  • #196
  • Dec 28, 2012 10:25pm Dec 28, 2012 10:25pm
Quoting Mr. Pip
Thank you for your kind words. I had to learn all this the painful way and love to help traders get on a proper path to profitable trading. There's a lot of crap out there and many traders fall into the trap. I'm here to help you and anyone who truly wants to learn how to trade like a professional get there quicker and with less pain.

Trading for me is a way of life it is my business it is what I do. It provides me with a lifestyle many wish they could have. I'm living proof that it is possible the question is? How hungry are you? How bad do you...
Mr Pip, I am very keen to learn. The reason why I have been learning Forex for such a long time is exactly my desire to make it in this business. I have been dedicated to Forex for some time. So far, you seem like a dedicated teacher.

Once again, thank you for the time and effort which you are giving here.

Ezzy
What you do is a reflection of you....what I do is a reflection of me.
  • #197
  • Dec 28, 2012 10:40pm Dec 28, 2012 10:40pm
You have identified two types of swings, mail and dominant. I'm a little confused about the definition of a dominant swing. Is it each swings within the main swing, like the red lines or is it the one down swing, purple swing, within the main swing.
Attached Image (click to enlarge)
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  • #198
  • Dec 28, 2012 11:07pm Dec 28, 2012 11:07pm
there is always bull and bear ....

Quoting iqyu5an
waiting - GU
http://www.forexfactory.com/attachme...6&d=1356712016
Attached Image (click to enlarge)
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not euphoria follower
  • #199
  • Dec 29, 2012 2:02am Dec 29, 2012 2:02am
Good Morning Mr. Pip,

In post 168 you stated that "We had a 138 Fib extension lining up with structure." What exactly do you mean by structure? Is structure a reversal in the direction of price? Could you show a couple of examples of structure on 1 chart? Thank-you sir, I appreciate your help.

Bren
  • #200
  • Dec 29, 2012 3:40am Dec 29, 2012 3:40am
Quoting Mr. Pip
[font=Calibri][size=3]...

If price retraces to the green cube then we are looking at a Gartley Pattern.

If price retraces in the dark pink cube then we are lookingat a Crab Pattern.

As you can see price pierced the 61.8 making it a Gartley Pattern and we can identify points X,A,B,C.

....
I have read all the posts with great interest and have a couple of questions for you regarding the above post of yours. The price closed within the dark pink cube at the end of the hour and there is still possibility that the pattern may be either Gartley or Crab. Now a new bar is forming and at what point of the new bar you discard Gartley possibility while watching the price in real time? How frequent a crab pattern is invalidated (that means you have been stopped out if a trade is executed according to the crab pattern) and turns into a possible Gartley?

Great stuff, great teaching.
Blackeagle
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