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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

  • #981
  • Jan 9, 2013 5:19pm Jan 9, 2013 5:19pm
Quoting well0143
Yeah to be honest I spent 10hrs yesterday in front of the computer following the charts, but i now look at that pattern and don't really be leave in it trying to make pattern when there is no signals. That PRZ was due there being some s/r it had to cross before moving on downwards
Hang in there it will come.
If you fail to plan, you plan to fail.
  • #982
  • Jan 9, 2013 5:19pm Jan 9, 2013 5:19pm
Quoting Mr. Pip
Let each trade run it's course. Follow a trade management plan you will be more profitable in the long run.
there was a strong previous structure resistance 15-20pips below his initial target,
modifying his plan was wise in this case imo
  • #983
  • Jan 9, 2013 5:21pm Jan 9, 2013 5:21pm
Quoting Mr. Pip
Let each trade run it's course. Follow a trade management plan you will be more profitable in the long run.
Yep after looking at last nights trading plans your day time I really wild of done well if I followed my plans but got scared got learn to sit and chill
  • #984
  • Jan 9, 2013 5:29pm Jan 9, 2013 5:29pm
potential Gartley on EURUSD?

And a perfect ABCD (to the pip) which I sadly haven't seen before. The lines were drawn in a hurry and they are a bit off since they should include the highs but you get my point.
Attached Image (click to enlarge)
Click to Enlarge Name: Gartley.png Size: 28 KB
  • #985
  • Jan 9, 2013 5:31pm Jan 9, 2013 5:31pm
Quoting laimonk
Mr Pip

Thank you for taking the time to explain your way of trading.
I am new to ratio and harmonics style of trading. And your video was a great help!!

Could I ask regarding AB=CD:

1) Point C has to be min 38% of AB correct? What if there are 2 AB swings that “qualify” point C, do you use the bigger swing or the smaller swing for projection of CD? Naturally if you use the bigger swing it gives better price movement, but is this the correct way?

2) If Point C is a very deep pull back to almost point A, or overshoots point A , is it...

1) Point C has to be min 38% of AB correct? What if there are 2 AB swings that “qualify” point C, do you use the bigger swing or the smaller swing for projection of CD? Naturally if you use the bigger swing it gives better price movement, but is this the correct way?


Yes it has to achieve a min of 38% of AB. I'm not sure I follow 2 AB swings can you post a chart? I want to make sure I answer your question correctly.


2) If Point C is a very deep pull back to almost point A, or overshoots point A , is it ok? Do you then trade it as a double top/bottom with same AB=CD rules?

The high or low of A must be respected price cannot close above or below A. If it's a double top/bottom yes. As for the rules, I have no detailed rules for an AB=CD but you could use the trade management rules of the ABCD.


3) For aggressive C entries, do you have a Target 1 and Target 2, where is your SL – do you go BE after a certain pip movement [at point D or PRZ, you have a Target 1, at which point, price moves to BE and at Target 2, out]
Does the entry of Aggressive C go something like this – identify fibo retracements on higher TF then look at LTF for PA reversal eg double top/bottom in the direction of anticipated point D.


When you say aggressive C enties I assume you are talking about the ABCD pattern and the rules were posted look in the attachment section you will find them. I alsomade a video that covers aggressive C trades.
If you fail to plan, you plan to fail.
  • #986
  • Jan 9, 2013 5:34pm Jan 9, 2013 5:34pm
Quoting well0143
Holy Grail, hmmm; Mathematics understanding of probability risk management trade like a robot without emotions; Vector calculus using Fibonacci ratios to complete the patterns
Interesting......
If you fail to plan, you plan to fail.
  • #987
  • Jan 9, 2013 5:36pm Jan 9, 2013 5:36pm
Quoting well0143
has anyone got a electronics copy of what patterns to look for depending on what Fibonacci ratios have been hit

http://www.forexfactory.com/attachment.php?attachmentid=1110050&d=Jan 4, 2013 9:19am
If you fail to plan, you plan to fail.
  • #988
  • Jan 9, 2013 5:39pm Jan 9, 2013 5:39pm
Quoting Blackeagle
Yes, as long as you have the following three things:

1- A trading strategy with good R:R - it is really difficult to be right consistently, therefore a good R:R is a must.
2- Discipline - Rule based trading, trade what you see, not what you think it'll be.
3- Money Management - Even if you do right the first two, poor money management will lead you a poor performance.

Regards,
Blackeagle
Excellent on the right track!
If you fail to plan, you plan to fail.
  • #989
  • Jan 9, 2013 5:41pm Jan 9, 2013 5:41pm
Quoting HelloOz
dont let emotion get the better of you.
and greed as well. those 2 are poisons.. you can say this is the opposite of holy grail, do we have a name for this? Evil grail?

audusd is about to break out really soon, the range are getting narrower and narrower (M15)

surprisingly i did well this month.. the bad data help me alot.. i wasnt betting on it tho.. timing was perfect..
aud was on the top of the range just before data..

my advise is.. stay out of aud for now, if you are in the wrong side you will get burnt.
Getting hotter to the Holy Grail.
If you fail to plan, you plan to fail.
  • #990
  • Jan 9, 2013 5:58pm Jan 9, 2013 5:58pm
Quoting HelloOz
there was a strong previous structure resistance 15-20pips below his initial target,
modifying his plan was wise in this case imo
You have a valid point but this should have been taken into account prior to entry and the risk should have also been assessed. Once we start changing our trade plan or rules we are setting ourselves up to subjective trading. This is not and cannot be a consistent way to trade. Your results cannot me measured or improved upon. The decision to move the target after it was already established was emotional and it came from fear. Follow your plan no matter what if the trade did not offer you at least a 1:1 there was too much risk and you should have let it pass by.

We don't chase after trades or price action.
If you fail to plan, you plan to fail.
  • #991
  • Jan 9, 2013 5:59pm Jan 9, 2013 5:59pm
Quoting Mr. Pip
Interesting......
You can't leave me in suspense by just saying interesting haha
  • #992
  • Jan 9, 2013 6:01pm Jan 9, 2013 6:01pm
Alright fellow traders; I'm interested in this euro use i feel due to moving averages and price action it will go bullish would this be a correct pattern??

Attached Image (click to enlarge)
Click to Enlarge Name: USD (-).png Size: 20 KB
  • #993
  • Jan 9, 2013 6:03pm Jan 9, 2013 6:03pm
Quoting Kilian19
potential Gartley on EURUSD?

And a perfect ABCD (to the pip) which I sadly haven't seen before. The lines were drawn in a hurry and they are a bit off since they should include the highs but you get my point.
what tf are you looking at
  • #994
  • Jan 9, 2013 6:06pm Jan 9, 2013 6:06pm
Quoting Mr. Pip
You have a valid point but this should have been taken into account prior to entry and the risk should have also been assessed. Once we start changing our trade plan or rules we are setting ourselves up to subjective trading. This is not and cannot be a consistent way to trade. Your results cannot me measured or improved upon. The decision to move the target after it was already established was emotional and it came from fear. Follow your plan no matter what if the trade did not offer you at least a 1:1 there was too much risk and you should have...
okay this is how I'm going to trade stay strong don't let the market push you over !!!
  • #995
  • Jan 9, 2013 6:09pm Jan 9, 2013 6:09pm
Quoting Mr. Pip
http://www.forexfactory.com/attachment.php?attachmentid=1110050&d=Jan 4, 2013 9:19am
Mr Pip thank you very much very sexy pattern explanations!
  • #996
  • Jan 9, 2013 6:17pm Jan 9, 2013 6:17pm
Quoting well0143
Mr Pip thank you very much very sexy pattern explanations!
couldnt agree more..
Mr Pip,

what are you thoughts on Cypher and Shark pattern?
  • #997
  • Jan 9, 2013 6:23pm Jan 9, 2013 6:23pm
Quoting well0143
what tf are you looking at


5 min eur usd

If you are looking forbade summary and all documents mr pip has uploaded look at the thread linked in the first post
  • #998
  • Jan 9, 2013 6:39pm Jan 9, 2013 6:39pm
Mr pip,
What stoploss amount above the 161.8 line do you use when you trade the tick chart? Since the 10 pip above the 161.8 for the ABCD pattern is for the 1 hour timeframe.
  • #999
  • Jan 9, 2013 6:56pm Jan 9, 2013 6:56pm
Quoting Kilian19
potential Gartley on EURUSD?

And a perfect ABCD (to the pip) which I sadly haven't seen before. The lines were drawn in a hurry and they are a bit off since they should include the highs but you get my point.
Yes you were on the right track but it is now invalid close below 78.6 may be ABCD
If you fail to plan, you plan to fail.
  • #1,000
  • Jan 9, 2013 7:02pm Jan 9, 2013 7:02pm
Quoting well0143
Alright fellow traders; I'm interested in this euro use i feel due to moving averages and price action it will go bullish would this be a correct pattern??

Attachment
There are jewels to trade on that long journey up. we may also havea Gartley and price may not get way up there.
Attached Image (click to enlarge)
Click to Enlarge Name: $EURUSD (240 Min) 1_9_2013.jpg Size: 86 KB
If you fail to plan, you plan to fail.
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