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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

  • #341
  • Jan 1, 2013 9:36am Jan 1, 2013 9:36am
Great thread! I'm interested!
  • #342
  • Jan 1, 2013 10:10am Jan 1, 2013 10:10am
Hello sir,
Count me in too.

thank you very much for the thread.
More videos will help a lot to non english speaking people like me -)

Thank you very much i like this thread already and have read it 3 times until now -)
  • #343
  • Jan 1, 2013 11:20am Jan 1, 2013 11:20am
Can someone please take a look at the attached chart and tell me if I am on the right track?
Attached Image (click to enlarge)
Click to Enlarge Name: eu ab=cd long trade.gif Size: 19 KB
  • #344
  • Jan 1, 2013 1:06pm Jan 1, 2013 1:06pm
This is a great thread, thanks so much Mr. Pip....really like the clean look now w/o all the indicators, ma's etc......Have gone through about half of the pdf book someone posted here, can't remember who, but thanks. I do have some questions, do you guys just draw these patterns or is there an indicator that you use? See some charts that have a target for C and then 2 lines that go to the possible area or zone for D. I understand about the fibs and all but didn't know about the future or potential area and how these lines are drawn. Also, 1 more Q if I may....I have read where some take trades from C to D and then others wait for the D, both or which one? Thanks
  • #345
  • Edited 2:30pm Jan 1, 2013 2:08pm | Edited 2:30pm
Quoting winalot
Can someone please take a look at the attached chart and tell me if I am on the right track?
Yes that is correct. WE posted that same chart pattern several pages back, Starting at post 132
Barry
  • #346
  • Jan 1, 2013 2:25pm Jan 1, 2013 2:25pm
Quoting Korndawg
This is a great thread, thanks so much Mr. Pip....really like the clean look now w/o all the indicators, ma's etc......Have gone through about half of the pdf book someone posted here, can't remember who, but thanks. I do have some questions, do you guys just draw these patterns or is there an indicator that you use? See some charts that have a target for C and then 2 lines that go to the possible area or zone for D. I understand about the fibs and all but didn't know about the future or potential area and how these lines are drawn. Also, 1...
No indicator used. There was one posted earlier but Mr Pip doesn't want it used because it doesn't have the same rules for the pattern recognition as he does. We draw all fibs and patterns by hand.
We haven't covered trade entry yet. I briefly mentioned before that C trades are more aggressive that D trades, but let Mr Pip cover that before we ask questions.
Next he will cover patterns soon.
Thanks for being on board.
Barry
  • #347
  • Jan 1, 2013 2:38pm Jan 1, 2013 2:38pm
Hello traders,

I'm back after a long drive back and lots of fun with the family to bring in the new year, I'm very excited about all of the opportunities the market will bring our way. I have several pages to go through to catch up so give me some time.

But before I do I must say that some thing have been going on that has me quite upset. Before I get into this I want to thank Bary for helping out in my time away and all who have posted in the thread.

This thread is for all traders and levels of experience. So when someone posts a chart asking about a crab or bat the newer less experienced traders might not have a clue. This is fine and to the newer traders don't worry we will all end up on the same page if I do my job right.

Now to whats has me upset. A senior member of the FF community has gotten our friend Davit suspended. I do not know who this person was nor do I want to know who it was. What ever the reason which brought on this could have been handled better. I would hope that if you do not like something some one says or attaches to a thread and this is not proper in your mind, that you you choose to send a PM with your thoughts and give time for a responce then if you still feel uneasy about the situation youseek alternate means. Davit is a good person with great intensions and does not deserve this. He has done nothing wrong and if anything was only tring to help. I am very disappointed that a senior member would have such poor judgement and would take suck drastic actions.

If you are the member who brought on this action on Davit do not take my comments personal and seek actions on me. I more than anything want to point out that it could have been handled in a more productive manner. I hope my thread is not the cause of ant further actions on traders. I do not want traders to be affraid to post out of fear of consequences.

With respect,

Mr. Pip.
If you fail to plan, you plan to fail.
  • #348
  • Jan 1, 2013 2:52pm Jan 1, 2013 2:52pm
Welcome back Mr. Pip!
  • #349
  • Jan 1, 2013 2:58pm Jan 1, 2013 2:58pm
Quoting alex4xes
Mr.Pip,

Great thread, Thanks for starting it up ! This is one of my strategy, I used it before but for whatever reason I m using it very less now. I had a mixed results using this one. Now again you brought this to my notice & I will try to accommodate it again in my trading. So lets start with some charts. Here is my USDCAD on daily TF where I see potential bullish bat pattern developing. Price is now at point C & infact I am watching price action to take aggressive C trade as there is confluence of falling TL & structure. Although I believe...
Hello Alex,

I have not given the rules yet and hope you bring yourself back to harmonics, Your assesment is correct. Price will have some obstacles and a long journey ahead.
Attached Image (click to enlarge)
Click to Enlarge Name: $USDCAD (Daily) 7_16_2012 - 12_31_2012.jpg Size: 98 KB
If you fail to plan, you plan to fail.
  • #350
  • Jan 1, 2013 3:15pm Jan 1, 2013 3:15pm
Mr.PiP
My suspension has been lifted and I can post again.Thanks for your support.

I have a general question to ask.As harmonic trader how much time you spend going over fundamental staff like news.For example GU shot up unprecedented over 100pips on Fri and violated previous patterns.
Do you 1st check the news then pattern and mechanics? or you like many tech traders totally ignore fundamentals.
Thank you
In trading, you have to be defensive and aggressive at the same time
  • #351
  • Jan 1, 2013 3:15pm Jan 1, 2013 3:15pm
Quoting Ezzy
Ooops, here is the chart.
Correction for point C is too shallow it needs to be at least 61.8 It's is not ruled out yet and there is better price action with the smaller pattern.
If you fail to plan, you plan to fail.
  • #352
  • Jan 1, 2013 3:16pm Jan 1, 2013 3:16pm
Quoting sho
Here's a much larger picture showing the top of the main swing.

Hope you have a great time at Magic Kingdom!
Looks good
If you fail to plan, you plan to fail.
  • #353
  • Jan 1, 2013 3:18pm Jan 1, 2013 3:18pm
Quoting Nate04
Hello everyone...

Mr. Pip, seems like I should have this on repeat, but thanks again for everything you have posted! It truly is feeling like an awakening to me. If I ever make it big trading, remind me to put you in my will... Or at least buy you a drink!

I've taken some time to put what I consider to be the most instructive posts you have put out so far, in a word file (as I hate having to go though an entire thread over and over again to re-read 1 or 2 post). Anyways, I've attached it here in case others think the same way. If I've...
A drink would be great you have not over stepped that was very thoughtful. Thx.
If you fail to plan, you plan to fail.
  • #354
  • Jan 1, 2013 3:22pm Jan 1, 2013 3:22pm
Quoting iqyu5an
Hi ..

lot of harmonic indi out there but mr. pip already wrote this earlier :

This system is based on price action, ratios and harmonics. NO indictors will be added or used. Please do not post any as they are not part of this system. All traders and their ideas deserve the upmost respect and that is the only rule for now. ( here (http://www.forexfactory.com/showthread.php?t=402253) )





actually i'd like to share what i have here .. but i have to respect Mr.Pip to keep his system/thread clean from indi
Thank you and yes there is a lot of junk out there. No indicators! Free yourselves.
If you fail to plan, you plan to fail.
  • #355
  • Jan 1, 2013 3:24pm Jan 1, 2013 3:24pm
Quoting Kilian19
A collection of the most important posts by Mr. Pip. A link to the ebook Harmonic Trader by Scott Carney is included. The files is pretty big because it contains pictures of charts in high resolution.

I fixed a little layout error. New version is online.
Thank you for compiling as well I will look into adding something to page one but want to review first.
If you fail to plan, you plan to fail.
  • #356
  • Jan 1, 2013 3:28pm Jan 1, 2013 3:28pm
Quoting cmensah
Hi Mr Pip

I am quite new to trading and I am intrigued by this thread.

Several years ago I attempted end of day trading using fibs, taking trades at either of these 4 levels 61.8, 78.6, 127, 161.8.

I would use the distance of the swing from point A to B to determine price projection and potential reversals complimenting any of those 4 levels above.

I would make sure trade has at least 1:3 risk reward ratio.

I stopped trading due to personal reasons and I would like to start trading again this time on a full time basis.

What time frame...
I trade everyday on the 5 min and lately 244 ticks. I like the intraday pace. I trade between 7 and noon EST. I use to trade the H1 but it was to slow for my personality.
If you fail to plan, you plan to fail.
  • #357
  • Jan 1, 2013 3:30pm Jan 1, 2013 3:30pm
Quoting Bary
Both of you are can be correct. It depends on where price goes from here. If price goes up your ABCD will be correct, if price goes down the BAT pattern could form.
Good Job Bary!! The larger one has a more complex look to it and price action favors the smaller at the momment.
If you fail to plan, you plan to fail.
  • #358
  • Jan 1, 2013 3:35pm Jan 1, 2013 3:35pm
Quoting Mr. Pip
This thread is for all traders and levels of experience. So when someone posts a chart asking about a crab or bat the newer less experienced traders might not have a clue. This is fine and to the newer traders don't worry we will all end up on the same page if I do my job right.
Excellent! I am one of those less experienced traders and want to thank you for the way you are managing this thread.

In the firsts posts it all seemed that it was only for experienced traders who knew all about abcd patterns, fib retracements and extensions. But then it all became clear. We first needed to identify the main and dominant swings, etc, etc, step by step.

One question about Scott Carney book. I know that it'd be best to anyone to read it, but some probably won't have the time to go through the 273 pages. Plus, you mentioned that you have your very own rules of engagement that work with a better success probability. So, as a less experienced trader, should I read that book or it will be fine if I only follow the rest of your teaching cátedra here? I apologize if I sound lazy or if am not giving the respect that Carney book deserve.
Best time to plant a tree was 20 years ago, second best is now
  • #359
  • Jan 1, 2013 3:39pm Jan 1, 2013 3:39pm
Lazy ppl dont get meal. There's no short cut for success. It's a journey that you need to travel if you want to get there. Mr. Pip at best can only be your tour guide.

Quoting horuxito
Excellent! I am one of those less experienced traders and want to thank you for the way you are managing this thread.

In the firsts posts it all seemed that it was only for experienced traders who knew all about abcd patterns, fib retracements and extensions. But then it all became clear. We first needed to identify the main and dominant swings, etc, etc, step by step.

One question about Scott Carney book. I know that it'd be best to anyone to read it, but some probably won't have the time to go through the 273 pages. Plus, you mentioned that...
  • #360
  • Jan 1, 2013 3:46pm Jan 1, 2013 3:46pm
Quoting jasonckb
H1 EURUSD seems forming a bearish butterfly. Previous bar is a pin bar and supported by previous demand region. A test to place a buy stop on few pips above previous bar high and target for the point D. A dangerous test as I speculate it is a butterfly rather than it is formed already.
Jason,

I don't mean to pick on you and take this as a learning experience. This is an example of a pattern being forced into price action. We have been looking at this chart and traders have posted different views one in particular post 257 and 258 please review carefully. Now with the benefit of hindsight we can see how accurate my assesment was. I will post the pre from post 258 and the current chart.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: $EURUSD (60 Min) 12_28_2012.jpg Size: 94 KB
Click to Enlarge Name: $EURUSD (60 Min) 12_31_2012.jpg Size: 72 KB
If you fail to plan, you plan to fail.
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