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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

  • #1,941
  • Jan 22, 2013 9:27pm Jan 22, 2013 9:27pm
trade is on auto pilot will be back going to take a shower hopefully we either hit profit or get taken out. see you all in a few.
If you fail to plan, you plan to fail.
  • #1,942
  • Jan 22, 2013 9:29pm Jan 22, 2013 9:29pm
Quoting ymmit
Thankyou for your reply Mr Pip, I thought it was taking its time setting up so to avoid jumping in and taking the trade I went for a walk along the beach.

cheers
Ymmit
Wow that beats trading any day!
If you fail to plan, you plan to fail.
  • #1,943
  • Jan 22, 2013 9:32pm Jan 22, 2013 9:32pm
is this a valid prz?

Attached Image (click to enlarge)
Click to Enlarge Name: 1_22_valid_prz.png Size: 209 KB
  • #1,944
  • Jan 22, 2013 9:34pm Jan 22, 2013 9:34pm
or maybe using the larger swings, this prz.

Attached Image (click to enlarge)
Click to Enlarge Name: valid_prz_2.png Size: 214 KB
  • #1,945
  • Jan 22, 2013 9:34pm Jan 22, 2013 9:34pm
Well didn't have to wait got taken out at BE well traders three trades were identified two were taken in realtime live. The first hit profit for 54 pips the second I didn't take and went to TP for 38 pips and the third just missed profit by afew pips found resistence and confluence of fib and took me out at break even.

I hope you enjoyed this live little session and got a feel for how I trade. I also hope this helps you build some confidence and see that is about following the rules. The pips will come.
If you fail to plan, you plan to fail.
  • #1,946
  • Jan 22, 2013 9:36pm Jan 22, 2013 9:36pm
Quoting Mr. Pip
Well didn't have to wait got taken out at BE well traders three trades were identified two were taken in realtime live. The first hit profit for 54 pips the second I didn't take and went to TP for 38 pips and the third just missed profit by afew pips found resistence and confluence of fib and took me out at break even.

I hope you enjoyed this live little session and got a feel for how I trade. I also hope this helps you build some confidence and see that is about following the rules. The pips will come.
thanks! enjoyed it alot, night
  • #1,947
  • Jan 22, 2013 9:37pm Jan 22, 2013 9:37pm
Okay Traders I'm turning in got a full day of trading tomorrow. I'm glad I got some time to trade with you all tonight I really enjoyed it.Good night and talk to you all tomorrow.
If you fail to plan, you plan to fail.
  • #1,948
  • Jan 22, 2013 9:39pm Jan 22, 2013 9:39pm
Thankyou for putting in the time Mr Pip,

cheers
  • #1,949
  • Jan 23, 2013 1:52am Jan 23, 2013 1:52am
Hello every body,

found a nice BAT on usdjpy H1 with good abcd harmonics....
long @ 88.21, SL @88.05, TP @ 89.25
Attached Image (click to enlarge)
Click to Enlarge Name: BAT-usdjpy-H1-20130123.jpg Size: 119 KB
  • #1,950
  • Jan 23, 2013 2:31am Jan 23, 2013 2:31am
Quoting kyurem
Hello every body,

found a nice BAT on usdjpy H1 with good abcd harmonics....
long @ 88.21, SL @88.05, TP @ 89.25
I think you're supposed to put the sl 10 pips below the X, according to the rules. i really like your profile pic btw, very artsy
  • #1,951
  • Jan 23, 2013 3:08am Jan 23, 2013 3:08am
mr pip,
do you ever take profit early based on harmonic expectation that the price will not go to your take profit? or change your take profit based on harmonic expectation. is any such rules in your rules?
  • #1,952
  • Jan 23, 2013 3:08am Jan 23, 2013 3:08am
Quoting kyurem
Hello every body,

found a nice BAT on usdjpy H1 with good abcd harmonics....
long @ 88.21, SL @88.05, TP @ 89.25
litlle gartely price action on 5min, long position added @88.17 ...
Attached Image (click to enlarge)
Click to Enlarge Name: BAT-usdjpy-H1-5min-20130123.jpg Size: 107 KB
  • #1,953
  • Jan 23, 2013 3:11am Jan 23, 2013 3:11am
Quoting Starry
I think you're supposed to put the sl 10 pips below the X, according to the rules. i really like your profile pic btw, very artsy
Hi Starry
I don't think it's written in stone; 10pips below X would be too large stop for me in this case (H1 pattern)... just risk assessment.
I use agressive SL.
  • #1,954
  • Jan 23, 2013 3:19am Jan 23, 2013 3:19am
Hello Kyurem,
I don't find the same entry price..??...
On my chart, I see Long@88,06 SL below 87,78 and target 1 @ 89,33
Attached Image (click to enlarge)
Click to Enlarge Name: 130123_uy.JPG Size: 73 KB
Entry is a science, exit is an art.
  • #1,955
  • Jan 23, 2013 3:32am Jan 23, 2013 3:32am
Quoting kyurem
Hi Starry
I don't think it's written in stone; 10pips below X would be too large stop for me in this case (H1 pattern)... just risk assessment.
I use agressive SL.
True, 10 pips below X give you a worse RR ratio. As long as you follow your rules youre good.
  • #1,956
  • Jan 23, 2013 4:39am Jan 23, 2013 4:39am
Quoting 4xf
Hello Kyurem,
I don't find the same entry price..??...
On my chart, I see Long@88,06 SL below 87,78 and target 1 @ 89,33
Great! I hope you entered long @88.06.. it was a perfect entry

But don't forget what a PRZ is : POTENTIAL Reversal ZONE.
Potential => we have to look how price reacts
Reversal => gives us the direction
Zone => it's a price range
  • #1,957
  • Jan 23, 2013 4:40am Jan 23, 2013 4:40am
Quoting Mr. Pip
Bears trying to take over lets see if the oval holds if price closes below the oval it does not look good to achieve TP. Also I don't care we are at BE so Patience and let price do its thing.
Why the oval , Can you explain why you marked that specific area please?
  • #1,958
  • Jan 23, 2013 4:50am Jan 23, 2013 4:50am
Here are my two trades for today entering at D on both. The Aussie is with order flow so I took profit at 61.8 of A to D . GBPJPY is against order flow and I chickened out and took profit at the 61.8 of CD.
[ATTACH]
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy_15_min.jpg Size: 74 KB
[/ATTACH]

Aussie D could also be an aggressive C
Attached Image (click to enlarge)
Click to Enlarge Name: audusd_15_min.jpg Size: 79 KB
  • #1,959
  • Jan 23, 2013 4:53am Jan 23, 2013 4:53am
Quoting Damien1881
Why the oval , Can you explain why you marked that specific area please?
It was the convergence of two 38.2% fibonacci numbers, see chart.
Attached Image (click to enlarge)
Click to Enlarge Name: 1_23_gbpjpy_38.2_convergence.png Size: 214 KB
  • #1,960
  • Jan 23, 2013 5:39am Jan 23, 2013 5:39am
Quoting Mr. Pip
Can you see how beautiful the PRZ works when properly identified you just saw two live ones. I do not trade during thins time and wantewd to take the trade for you to see how and where I enter in a PRZ. I would have taken the reversal as it's with order flow. But I'm done for tonight I'll just hang out and chat with you all.


Hi Mr.Pip, What are your reasons to short? I see that AB=CD but the bc leg is under 618.
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