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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

  • #1,621
  • Jan 17, 2013 6:10pm Jan 17, 2013 6:10pm
Quoting well0143
stuffed it up here it is

Attachment
Hey bud you forced the sucker in there there is no pattern yet but you missed a very nice ABCD
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Click to Enlarge Name: $USDJPY (5 Min) 1_17_2013.jpg Size: 67 KB
If you fail to plan, you plan to fail.
  • #1,622
  • Jan 17, 2013 6:19pm Jan 17, 2013 6:19pm
Quoting well0143
abcd maybe as well I'm not sure I've lost some confidence for some reason maybe not following my own rules, to excited about it need to really tell my self to sit back and do my analysis

Attachment
Here you have two pattern completions a Gartley which is at break even and one of the trades I'm in I've been showed you all in prior posts and an ABCD which completed and took profit for 54 pips. I did not trade the ABCD because I was already short. Up 44 pips at the moment.
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If you fail to plan, you plan to fail.
  • #1,623
  • Jan 17, 2013 6:20pm Jan 17, 2013 6:20pm
mr pip,
do you have any rules which allow you to trade a bounce from the 38.2 line after consolidation there plus an ab = cd pattern that dead ends into the resistance? I didn't trade today, but reviewing gbpjpy, there was that situation and i have seen in strong markets that it doesn't pierce the 38.2% line.
Maybe move to break even at 38.2 of the large swing down previous and take profit at the 61.8 line?

you mentioned in the video something about taking trades from retracements that didnt go to 61.8 or so
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  • #1,624
  • Jan 17, 2013 6:21pm Jan 17, 2013 6:21pm
Quoting vqtrader
Mr PiP
I enter late because as I was typing while I was waiting on the setup. After I finish it was taking off without me. Off to bed. I have been at his since 5:30pmEST. My mental trading powers are leaving me. I may pop in and look at the GJ during london. Have good night folks
Night! A rested mind trades better.
If you fail to plan, you plan to fail.
  • #1,625
  • Jan 17, 2013 6:28pm Jan 17, 2013 6:28pm
Quoting Starry
mr pip,
do you have any rules which allow you to trade a bounce from the 38.2 line after consolidation there plus an ab = cd pattern that dead ends into the resistance? I didn't trade today, but reviewing gbpjpy, there was that situation and i have seen in strong markets that it doesn't pierce the 38.2% line.
Maybe move to break even at 38.2 of the large swing down previous and take profit at the 61.8 line?
Attachment
I trade those but you need to have strong structure and at least a retest of the 38% same goes for the 50%. The reason you want to stay away from these if you can help it is bacause its your first area of S/R the 50 being the second. Taking a position in this area puts you in a bad RR as you have potential trade right into potential structure R/R of the swing you are trading. Did you get that?
If you fail to plan, you plan to fail.
  • #1,626
  • Jan 17, 2013 6:28pm Jan 17, 2013 6:28pm
Well Traders I'm off till tomorrow.
If you fail to plan, you plan to fail.
  • #1,627
  • Jan 17, 2013 6:34pm Jan 17, 2013 6:34pm
Quoting Starry
100 tick charts with mbtrading appear to look much better and far closer to mr pips data. 255 tick charts have big blurs when there should be some peaks instead. Good enough for me!

Attachment
Starry,
A note on 'ticks'. I do not know about kinect, but MB Trading 'ticks' are just changes in bid or ask, they do not represent a trade. Similarly, volume is the number of ticks in a time period, not a value related to size of trades. So that could be one reason for the difference, esp. if kinect just uses changes in bid for example. That would likely represent 1/2 the ticks relative to MBT requiring you to use 2X faster tick chart. Who knows in the end.

More importantly, I would suggest, is to have multiple tick charts open at a given time, just like having 1min, 5min, 30min, etc charts open. Patterns form on all time frames and finding the best, most developed ones could lead to better trades.

Good luck!
  • #1,628
  • Jan 17, 2013 6:38pm Jan 17, 2013 6:38pm
Quoting Mr. Pip
I trade those but you need to have strong structure and at least a retest of the 38% same goes for the 50%. The reason you want to stay away from these if you can help it is bacause its your first area of S/R the 50 being the second. Taking a position in this area puts you in a bad RR as you have potential trade right into potential structure R/R of the swing you are trading. Did you get that?
Ok, so if you trade a buy on an ABC at the 38.2% line, you might be trading into the 38.2% retracement of the BC? Couldn't you just move to breakeven when it reached that?
  • #1,629
  • Jan 17, 2013 6:39pm Jan 17, 2013 6:39pm
Quoting BroncoCap
Starry,
A note on 'ticks'. I do not know about kinect, but MB Trading 'ticks' are just changes in bid or ask, they do not represent a trade. Similarly, volume is the number of ticks in a time period, not a value related to size of trades. So that could be one reason for the difference, esp. if kinect just uses changes in bid for example. That would likely represent 1/2 the ticks relative to MBT requiring you to use 2X faster tick chart. Who knows in the end.

More importantly, I would suggest, is to have multiple tick charts open at a given...
Yeah, i saw that the 100 tick chart was much cleaner but the 1 minute gave additional confirmation for the trades on the 100 tick chart, so it would probably be good to have both open! thanks :!) good luck to you!
  • #1,630
  • Jan 17, 2013 6:42pm Jan 17, 2013 6:42pm
Quoting Mr. Pip
I trade those but you need to have strong structure and at least a retest of the 38% same goes for the 50%. The reason you want to stay away from these if you can help it is bacause its your first area of S/R the 50 being the second. Taking a position in this area puts you in a bad RR as you have potential trade right into potential structure R/R of the swing you are trading. Did you get that?
Also, i have a question about stoploss placement. If it trades into the 38.2% line and then consolidates into it, wouldn't it be wiser to put the stoploss a few pips below the 38.2 zone instead of at the A point? especially if the ABC is extremely big, almost like looking at patterns in the 15 minute and trading them on a 1 minute chart.
  • #1,631
  • Jan 17, 2013 6:47pm Jan 17, 2013 6:47pm
Quoting Mr. Pip
Hey bud you forced the sucker in there there is no pattern yet but you missed a very nice ABCD

man I'm going to have a cry I've am working so hard at this I'm living and breathing this stuff and i miss patterns pick wrong patterns, and its all my emotion i know its nothing else the rules are right there in black and white how can i make mistakes ya ya ya ya ya cry cry cry grrrrrrrrr blah gr ya ya ya
grrrr
  • #1,632
  • Jan 17, 2013 6:48pm Jan 17, 2013 6:48pm
Quoting Mr. Pip
Well Traders I'm off till tomorrow.
you are a BOSS
  • #1,633
  • Jan 17, 2013 7:14pm Jan 17, 2013 7:14pm
Quoting well0143
man I'm going to have a cry I've am working so hard at this I'm living and breathing this stuff and i miss patterns pick wrong patterns, and its all my emotion i know its nothing else the rules are right there in black and white how can i make mistakes ya ya ya ya ya cry cry cry grrrrrrrrr blah gr ya ya ya
grrrr
If it was easy, we'd all be filthy rich, sitting on a beach, trading from laptops. Rules take out emotion, but only if followed. Experience trumps 'gut feelings' but only after being earned. You have to dust off the losses, analyze the results, know that losing trades will happen. Learn from them, and practice, practice, practice.

Good luck!
  • #1,634
  • Jan 17, 2013 7:27pm Jan 17, 2013 7:27pm
Quoting BroncoCap
If it was easy, we'd all be filthy rich, sitting on a beach, trading from laptops. Rules take out emotion, but only if followed. Experience trumps 'gut feelings' but only after being earned. You have to dust off the losses, analyze the results, know that losing trades will happen. Learn from them, and practice, practice, practice.

Good luck!
thanks bro, hopefully one day i get to meet you wonderful people
  • #1,635
  • Jan 17, 2013 9:35pm Jan 17, 2013 9:35pm
Quoting Mr. Pip
Well Traders I'm off till tomorrow.
Hi Mr. Pip,

Do you recall maybe as kid watching your first magic show(act) and how amaze you were. I remember my first show and just could not believe it.
And then yesterday I watched the video you made of the day trade 14 Jan.
Wow! I felt like that kid again!!!
Your 9 videos were very educational and very much appreciated.
Keep them coming as I would very much like to know the secrets of the magician!
  • #1,636
  • Jan 17, 2013 11:33pm Jan 17, 2013 11:33pm
Quoting BroncoCap
It happens, so was I. I played the ABCD short using that down wave you used as your first leg. It did trigger 61.8% then moved 61.8% favorably (aka Mr. Pips aggressive C target) only to retrace. I hedged that trade with a long ABCD, so roughly B/E on that series. Otherwise, been getting my arse handed to me. Seem to have a short bias and missing the win-win hedge opportunities.

All part of the process. Good luck!
Intersesting hedge..
Bronco I donīt use stops but hedge through my subaccount, so far recovered every single position in 2013.It didnīt work last year, but Iīm hopping through harmonics and fibos to get a better "heging map".I do use a stop to BE and cancell my hedge order after the position goes to profit.

Donīt recomend it to anyone unless you demo for a long time...you can get margincalled .
  • #1,637
  • Jan 17, 2013 11:43pm Jan 17, 2013 11:43pm
Quoting well0143
thanks bro, hopefully one day i get to meet you wonderful people
Yeah agree!
and we could all invite Mr. Pip for a dinner with lobster and champagne....
...our winning Gartleys and ABCs will pay the bill....
  • #1,638
  • Jan 18, 2013 12:23am Jan 18, 2013 12:23am
Quoting Mr. Pip
Remember to always take a step back. Tell me what you overlooked.
Hi MrPip
overall picture shows a very good ABCD harmonic. Is that what you meant?
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  • #1,639
  • Jan 18, 2013 12:42am Jan 18, 2013 12:42am
Quoting Starry
Heres what ive noticed.
When you have impulse waves, a strong resistance can change the length of the impulse wave, either shortening or lengthening it. It can also signal the transition to another impulse wave (the previous impulse wave becomes invalid). I theorize that after a gradual breakthrough and then a retest, its most likely that it will transition to another impulse wave.

I think all subjectivity should be cast into rules that can then be tested and refined to work more often. Then, as you use the rules more often, you're 'intuition/subjectivity'...
So do you keep the original A point or start again even though the retracement doesn't come back to the 38.2 as the structure to the left helped create this?
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  • #1,640
  • Jan 18, 2013 12:59am Jan 18, 2013 12:59am
Hi all

butterfly on gbpusd 5min: Long @1.5944 SL 1.5935 TP 15968
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