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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

  • #2,021
  • Jan 24, 2013 5:44am Jan 24, 2013 5:44am
Thank you to all the contributors for such an informative (and friendly!) thread.

A profitable aggressive C sell with market flow on AUDUSD M15 a few hours ago
Attached Image (click to enlarge)
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  • #2,022
  • Jan 24, 2013 5:48am Jan 24, 2013 5:48am
Quoting TraderMartin
Thank you for your wonderful post. You intro video was clearly presented and very illuminating, I have been studying the ebook High Probability Trading Stratigies. This was posted by an astute trader in another post, ( I apologize to that poster for the lack of proper reference ). The books' system touches on fib extensions. I must say your posting was much clearer as to the concept behind fib extensions. Another element touched on in the attached ebook has to do with applying those same fib extension levels to the time scale, overlaid on...
The author Miner , is an old expert on Fibos and EWave.
I know the book by heart,you could call EWave different patterns,you have impulsive and corrective..etc...so far so good...

Miner puts a lot of weight on indicator filtering, as per following the higher time Frame OSold or Obought indi as a filter, which automatically gets you trading against the major trend...you´ll get stopped a lot.

To be honest,keep it simple and follow what´s happening only here.... even Miner calls it "Paralisys of Analisis"....(I know what I´m talking about, cause often have that illness myself)
Remember, any System that produces less than 30 or 40 percent winners can be easily replaced by a coin flip.
Double time Frame oscillator filters do just that.
Just my 2 Cents worth...
  • #2,023
  • Jan 24, 2013 6:14am Jan 24, 2013 6:14am
Quoting Mr. Pip
You see even major confluence fails and even I lose trades every now and then got stopped out for a 14 pip loss.
Bravo, this is reality trading. Calling trades in advance, and admitting to a loss is very rare making you exceptional among the teachers here.

Depending on your risk/reward, even the best set ups can have only a 50% or even less strike rate and that is the reality of trading

In this instance, though a losing trade for you, price still paused and retraced at exactly your predetermined confluenece level. With a tighter stop, 2 or 3 times reward for your risk was possible. A scalper like me trading 1:1 it would have been the perfect level to trade from

I rate this thread among the best on FF. Thanks for your time and patience and for making this a more honest and better place

You got my vouch Mr. pip
BTC Return This Year: na
  • #2,024
  • Jan 24, 2013 6:15am Jan 24, 2013 6:15am
Quoting liemo
Here goes, first trade posted on this thread. Short EUR/AUD:

Reason : 618 fib retracement of swing high (1.2737) and swing low (1.2568)
: ABCD completion
: 1.272 extension of AB

SL : 1.2702
Entry : 1.2670
Target: 1.2615 (5 pips above 618 retracement of ABCD)
Risk : 32 pips
Target : 55 pips
R:R : 1.718

(think I'm going against orderflow but we'll see how the trade pans out).
Got stopped out. On top the next, looking to short GBP/AUD @ 1.5088

Reason : 2x ABCD parterns
1 x AB=CD
2x 1.272 of AB

SL : 1.5128
Entry : 1.5088
Target: 1.5024
Risk : 40 pips
Target : 64 pips
R:R : 1.6
Attached Image (click to enlarge)
Click to Enlarge Name: 4 GBPAUD 15 MIN.PNG Size: 89 KB
  • #2,025
  • Jan 24, 2013 6:35am Jan 24, 2013 6:35am
Quoting Georji
Mr Pip, is it right to assume that every SWING could be a potential start for a new Pattern? and even if it is a part of an already in progress pattern?
Yes, I believe every swing has the potential to be the start of another pattern. That's why it's called an aggressive C trade. You don't know it's C until it breaks beyond B. Treat every swing in the time frame you trade as such, draw the fibs and watch for the possible patterns that may develop.
Barry
  • #2,026
  • Jan 24, 2013 6:52am Jan 24, 2013 6:52am
Quoting 4xf
Hello liemo, there is an other pattern on the gbpaud...
Thanks 4xf. Nice butterfly pattern.

I'm just plucking these ABCD patterns in as per Mr. Pips rules and seeing how I go.

My only concern at the moment is that my bias is still long. Not quite a Gartley per Mr.Pips rule but still a valid ABCD on the daily chart. More than happy to receive any feedback on my trades.
Attached Image (click to enlarge)
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  • #2,027
  • Jan 24, 2013 7:55am Jan 24, 2013 7:55am
Quoting liemo
Got stopped out. On top the next, looking to short GBP/AUD @ 1.5088

Reason : 2x ABCD parterns
1 x AB=CD
2x 1.272 of AB

SL : 1.5128
Entry : 1.5088
Target: 1.5024
Risk : 40 pips
Target : 64 pips
R:R : 1.6
PA reached 38.2 retracement of AD. SL move to break-even for risk free trade.
Attached Image (click to enlarge)
Click to Enlarge Name: 4 GBPAUD 15 MIN UPDATE.PNG Size: 91 KB
  • #2,028
  • Jan 24, 2013 8:06am Jan 24, 2013 8:06am
Eur/Gbp pattern on weekly and daily
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Click to Enlarge Name: eurgbp weekly.jpg Size: 85 KB
Don't follow me! You can and most likely will LOSE all your money!!!!
  • #2,029
  • Jan 24, 2013 8:11am Jan 24, 2013 8:11am
Quoting CNTrader
Eur/Gbp pattern on weekly and daily
Hi CNTrader, What patterns do you have there?
  • #2,030
  • Jan 24, 2013 8:14am Jan 24, 2013 8:14am
Dang it Dang it Dang it

Everytime I get going with this trade thing life keeps getting in the way. I wanted to be constant contributor like Bary(once I could spot patterns) but work and life keeps getting in the way. Yet again I have to take a break and only contribute where I can or when a pattern pops up while having time to look for trades. Anyway, I apologize if I become whodini every now and again. I REALLY wanted to be active and continue to make this thread what it is..... AWESOME! So please don't take any disrespect if I pop in and out of the thread when I get sometime.

FYI: I have been at this for 8years and its the same song. Now I know why traders fail I think its not the strategy its the lack of perserverance. DAM

Keep and eye out for the Gartley GBP/AUD I posted on the daily TF some time ago I think its ready. I am in it and running it to 38.2 BE. It ended up accepting my order (to the pip) of the completion of the pattern. I did chicken out a bit but I am in for the long haul to the BE point. Check it out.
I can't post a chart b/c I am at my Just Over Broke (J.O.B). If anyone can for the good of the thread that would be cool. There maybe an opportunity to find a buy pattern on a shorter time frame in order to get the best price.

Take care Guys/Gals I will be back soon1
Empower Your Mind
  • #2,031
  • Jan 24, 2013 8:15am Jan 24, 2013 8:15am
Quoting liemo
Hi CNTrader, What patterns do you have there?
They're both the same Bat pattern on different time frames.
  • #2,032
  • Jan 24, 2013 8:17am Jan 24, 2013 8:17am
Quoting liemo
Hi CNTrader, What patterns do you have there?
Bearish bat also combined with a potential wave 3 completion. Should have a good opportunity for some bankable pips for a possible correction at least. Time will tell
Don't follow me! You can and most likely will LOSE all your money!!!!
  • #2,033
  • Jan 24, 2013 8:17am Jan 24, 2013 8:17am
Quoting Damien1881
They're both the same Bat pattern on different time frames.
yes you are correct
Don't follow me! You can and most likely will LOSE all your money!!!!
  • #2,034
  • Jan 24, 2013 8:23am Jan 24, 2013 8:23am
Quoting vqtrader
Dang it Dang it Dang it

Everytime I get going with this trade thing life keeps getting in the way. I wanted to be constant contributor like Bary(once I could spot patterns) but work and life keeps getting in the way. Yet again I have to take a break and only contribute where I can or when a pattern pops up while having time to look for trades. Anyway, I apologize if I become whodini every now and again. I REALLY wanted to be active and continue to make this thread what it is..... AWESOME! So please don't take any disrespect if I...
It's been shared again recently , and spoken about tonight.

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  • #2,035
  • Jan 24, 2013 8:47am Jan 24, 2013 8:47am
Quoting CNTrader
Eur/Gbp pattern on weekly and daily
Here is a butterfly for short term traders on the same same pair on the 15m chart
Attached Image (click to enlarge)
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Don't follow me! You can and most likely will LOSE all your money!!!!
  • #2,036
  • Jan 24, 2013 9:01am Jan 24, 2013 9:01am
on mondays and wednesday and fridays i am now going to be trading 6-10 CST, each week, so hopefully i can compare trades with anyone who trades during those times on the EURUSD. see ya later! trading at 9:30 -10:30 on tuesdays and thursdays.

i am determined to master this, it takes time to get the nuances i believe even though the mechanics are farely simple. For anyone who cant trade those hours and wants to, they can always use the free ninja simulator or get something like Forex Tester. So mastery is open to anyone!
  • #2,037
  • Jan 24, 2013 9:13am Jan 24, 2013 9:13am
Quoting CNTrader
Here is a butterfly for short term traders on the same same pair on the 15m chart
As per Mr Pips rules isnt this a crab that needs to hit about 161 ext. ?
  • #2,038
  • Jan 24, 2013 9:53am Jan 24, 2013 9:53am
Entered a sell order. Reason: 168 extension, 127.2 extension, nearby completion of larger abcd, smaller abcd completion. but im nervous because there was a nearby retracement to the 50% level, so it might travel an equal distance of the previous impulse wave.
Attached Image (click to enlarge)
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  • #2,039
  • Jan 24, 2013 9:53am Jan 24, 2013 9:53am
Here is my chart with the last trade of the day still live this one may go down in flames we will see.
Attached Image (click to enlarge)
Click to Enlarge Name: $EURUSD (233 Tick) 1_24_2013.jpg Size: 130 KB
If you fail to plan, you plan to fail.
  • #2,040
  • Jan 24, 2013 9:57am Jan 24, 2013 9:57am
Hello Mr. Pip,

I have a question about Aggressive C Buys/Sells which I hope hasn't already been covered.

At the point when you enter such a trade, other patterns still have not been ruled out (for example, the creation of a Gartley).

The trade rules state that during an Aggressive C trade you move stops to BE at 38.2% retracement of BC.
Target 2 is then the completion of point D or the 127.2% extension.

To my simple mind, there is still a significant chance that the pattern could reverse before Target 2 is realised. For example, a reversal between 61.8% and 78.6% to create a Gartley.

How do you cater for this?
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