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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

  • #1,161
  • Jan 11, 2013 8:24am Jan 11, 2013 8:24am
I'm trying this .. A-U

Attached Image (click to enlarge)
Click to Enlarge Name: au3.gif Size: 24 KB
  • #1,162
  • Jan 11, 2013 8:25am Jan 11, 2013 8:25am
Quoting Ezzy
Another practice Chart.

Bearish bat

Comments are always welcome.
No price closed above the 50 at B
If you fail to plan, you plan to fail.
  • #1,163
  • Jan 11, 2013 8:28am Jan 11, 2013 8:28am
Mr. Pip, I have a question for you. When I entered my AUD/USD short trade, I based my 38.2 break even level and 61.8 TP level off of the candle I placed the trade on. As you definately know, price continued to go up for awhile. Do I need to adjust my 38.2 be and 61.8 TP level to the new swing high and reduce my risk/reward, or leave them as it is? Thanks...
  • #1,164
  • Jan 11, 2013 8:35am Jan 11, 2013 8:35am
Quoting BroncoCap
Ah, I see. Good it was circumstantial, not a way you trade. I do not know what is available in AU, but OANDA is the best for trying out strategies as you can use single unit size (but not with MT4). In reality, I would suggest demo'ing using any MT4 broker (or multiple to test their spread, execution GIVEN demo does NOT equal live), and save money. Once you have sufficient capital, then consider going live using the smallest size possible that still results in 1-3% account risk per trade. Sounds like you know all this. Good luck!
Na na don't know nothing lol, think I might have to save bit of capital and really practice on these patterns was trading on hope to boost the account up but oh we'll lesson learnt
  • #1,165
  • Jan 11, 2013 8:49am Jan 11, 2013 8:49am
Quoting CockyAmoeba
Greetings Mr Pip

I just want to confirm why you entered teh trade - was it on the bat? if so did it not invalidate by closing above the 88.6?

Thanks!
Yes it was the bat that got me in. Looking at price action on the lower TF I saw rejection of the 88% which triggered my entry. This one gave me clues that I was in trouble. Price found strong support repeatedly at minor level 23% and above. This means we are still very bullish. I found a graceful exit for a scratch trade as my reasons for entering my trade were no longer valid I took a 2 pip hit
Attached Image (click to enlarge)
Click to Enlarge Name: $EURUSD (5 Min) 1_11_2013.jpg Size: 117 KB
If you fail to plan, you plan to fail.
  • #1,166
  • Jan 11, 2013 9:04am Jan 11, 2013 9:04am
Quoting mannai70
Hello all,

I've been following this thread in silence for some time now. Great thanks to Mr Pip for his work.

I was wondering if any of you or Mr. Pip himself could let me know if my posting below of the ABCD pattern is correct. If it is correct and considering the fact that that would have been an aggressive C long, that's a very nice RR, approx. 4:1

Cheers
Yes great risk reward.
If you fail to plan, you plan to fail.
  • #1,167
  • Jan 11, 2013 9:07am Jan 11, 2013 9:07am
Does anyone trade GBPJPY on the 1 minute timeframe using harmonics? It seems like a good timeframe and currency if you have limited time to trade (like 2 hours or so)
  • #1,168
  • Jan 11, 2013 9:07am Jan 11, 2013 9:07am
Market is testing me today

Stopped out on pink ABCD, waiting to see size of pullback to red C zone or a retrace back to the blue C zone.

http://img849.imageshack.us/img849/4...ed0bbeca00.png
  • #1,169
  • Jan 11, 2013 9:07am Jan 11, 2013 9:07am
Quoting ozziedave
Here is a back to back combo pattern on 60 USDCHF. We had a bullish bat followed by a bearish gartley. Too bad I didn't pick this up a bit earlier.

Mr Pip..is this something that happens often?
Yes it is common
If you fail to plan, you plan to fail.
  • #1,170
  • Jan 11, 2013 9:28am Jan 11, 2013 9:28am
Quoting Nate04
Yeah that Bat trade on EURUSD was more like a vampire bat... It got me as well. Blah... I'm not having a very good run with this so far.
Well this will happen out of the three main patterns that completed yesterday two are winners an one was a loser. We also had some very nice abcd action inbetween these patterns and extremely nice aggressive C entries. There should have been lots of this week. On the three main patterns alone had you just traded that your risk was around 40 or so.

AU = +25
NU = +69
EU = -40

Still +54 not bad at all. That means 2 out of 3 for 66.6% and +54. You will find as we get into the patterns that the lost on a Prz failure of a pattern completion is insignificant because we exploit the crap out of them. we have noty covered thes yet only the ABCD. and by taking advantage of the aggressicve C position look how well that has done this week as well.

Another thing you need to consider. As a trader you need to determine how many pattern you can trade in a day and divide your psoition size accordingly. Trading one out of three patterns is not good either. Don't put all your eggs in one basket.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: $NZDUSD (60 Min) 1_11_2013.jpg Size: 122 KB
Click to Enlarge Name: $AUDUSD (60 Min) 1_11_2013.jpg Size: 119 KB
If you fail to plan, you plan to fail.
  • #1,171
  • Jan 11, 2013 9:36am Jan 11, 2013 9:36am
Quoting BroncoCap
I do not know what you mean by 'lost my account' but if you mean it literally, you are doomed to fail. Re-read the money management posted by Mr. Pip. Whatever your threshold may be, you should never, ever, come close to blowing out an account based on 1 trade. At most, 1 trade should cost 5% of an account and that is very, very, very aggressive money management.

Just my two cents and sorry to step on toes, I just hope I am misreading your statement, if not, I feel your pain, but learn from it!
Well put MM is more important than trading.
If you fail to plan, you plan to fail.
  • #1,172
  • Jan 11, 2013 9:43am Jan 11, 2013 9:43am
Quoting Nate04
Mr. Pip, I have a question for you. When I entered my AUD/USD short trade, I based my 38.2 break even level and 61.8 TP level off of the candle I placed the trade on. As you definately know, price continued to go up for awhile. Do I need to adjust my 38.2 be and 61.8 TP level to the new swing high and reduce my risk/reward, or leave them as it is? Thanks...
Yes you have to readjust the Fib and and targets stop too although 10 pips above X should not need to be changed.
If you fail to plan, you plan to fail.
  • #1,173
  • Jan 11, 2013 10:04am Jan 11, 2013 10:04am
Quoting Mr. Pip
Yes you have to readjust the Fib and and targets stop too although 10 pips above X should not need to be changed.
Ok, thats what I thought. I've adjusted accordingly. Just wanted to check in though. I like that the aud/usd still has a chance. Its might take a couple of days to get there though if it does, which drives me nuts, because I hate paying interest.
  • #1,174
  • Jan 11, 2013 10:08am Jan 11, 2013 10:08am
Quoting Nate04
Ok, thats what I thought. I've adjusted accordingly. Just wanted to check in though. I like that the aud/usd still has a chance. Its might take a couple of days to get there though if it does, which drives me nuts, because I hate paying interest.
That's why I like the small timeframes. Before I had no problem keeping trades open over the weekend now I hate it. Rules are rules and I follow mine so I either hit profit prior to day close or this one will wee a weekend lol.
If you fail to plan, you plan to fail.
  • #1,175
  • Jan 11, 2013 10:12am Jan 11, 2013 10:12am
Someone mentioned wanting to see a video of the swing ID process. Pick a pair and timeframe in the next 5 minutes and I'll do one.

Just wanted you to pick it instead of me.
If you fail to plan, you plan to fail.
  • #1,176
  • Jan 11, 2013 10:13am Jan 11, 2013 10:13am
Quoting Mr. Pip
That's why I like the small timeframes. Before I had no problem keeping trades open over the weekend now I hate it. Rules are rules and I follow mine so I either hit profit prior to day close or this one will wee a weekend lol.
Yeah... When i started following this thread, I started out on the 4hr time frames, because i didn't want to get caught making a decision to hasty... I wanted things to draw out over time so I could see what I thought, had time to post it on here and see what you and everyone else thought as well before taking a trade.

However, I'm already starting to feel like 4hr might be to slow... I've caught myself looking at the 1hr time frame more the past couple of days. I want to eventually get down to the 15 minute frame.
  • #1,177
  • Jan 11, 2013 10:14am Jan 11, 2013 10:14am
GBP/JPY m5
  • #1,178
  • Jan 11, 2013 10:14am Jan 11, 2013 10:14am
Quoting Nate04
Yeah... When i started following this thread, I started out on the 4hr time frames, because i didn't want to get caught making a decision to hasty... I wanted things to draw out over time so I could see what I thought, had time to post it on here and see what you and everyone else thought as well before taking a trade.

However, I'm already starting to feel like 4hr might be to slow... I've caught myself looking at the 1hr time frame more the past couple of days. I want to eventually get down to the 15 minute frame.
Sounds great!
If you fail to plan, you plan to fail.
  • #1,179
  • Jan 11, 2013 10:34am Jan 11, 2013 10:34am
close all position in euro at 1.3350. added 50 pips higher from 1.3300

start seeing butterfly after BAT.

Quoting iqyu5an
One of Harmonic Evolution :

Gartley-BAT - Butterfly - Crab ( Deep Crab )

that's the reason i don't like Gartley / BAT to make a position in their PEZ. overshot !

gartley and bat is just like a baby for butterfly/crab

if we're looking for Gartley or BAT, better to trade from C to D using BAMM schema ( documented by Scott Carney, in his book "Harmonic Trading of the Financial Markets: Volume Two" )

BUT if we're in trend channel........ yesssssssssssssss Gartley and BAT is best harmonic


imho
Quoting iqyu5an
still +/- 50 pips to go ....
http://www.forexfactory.com/attachme...1&d=1357836694

but it doesn't matter... positions in other broker, just hit the target .

now am waiting my GU position
not euphoria follower
  • #1,180
  • Edited 11:37am Jan 11, 2013 10:50am | Edited 11:37am
Quoting iqyu5an
close all position in euro at 1.3350. added 50 pips higher from 1.3300

start seeing butterfly after BAT.
kudos on your analysis. A butterfly at this top is a strong reversal pattern.

Also observing ABCD as mentioned by Bary.

ABCD - EURUSD H4
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"I don't always trade markets, but when I do, I prefer harmonics."
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