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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

  • #2,061
  • Jan 24, 2013 10:57am Jan 24, 2013 10:57am
Potential good setup on GBPJPY 15MIN

will watch price action at PRZ..it looks beautiful
Attached Image (click to enlarge)
Click to Enlarge Name: BAT-gbpjpy-15min-20130124.jpg Size: 105 KB
  • #2,062
  • Jan 24, 2013 11:03am Jan 24, 2013 11:03am
Quoting 4xf
gbpaud : gartley formation ??
It was heading in that direction buit ended up being an ABCD at BE and in danger. The Gartley before was profitable 59 PIP. See How patterns evolve?
Attached Image (click to enlarge)
Click to Enlarge Name: $GBPAUD (15 Min) 1_24_2013.jpg Size: 100 KB
If you fail to plan, you plan to fail.
  • #2,063
  • Jan 24, 2013 11:04am Jan 24, 2013 11:04am
Quoting Starry
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!

If you fail to plan, you plan to fail.
  • #2,064
  • Jan 24, 2013 11:07am Jan 24, 2013 11:07am
Quoting Mr. Pip
LOL thanks, it's just a loss no big deal part to the business. I made it up on the first trade this morning. And I had anothe loss this morning how is that for real... I'm very happy the system is working out for you. I would like to know from others what they think so far. Are they doing better worse? Should I quit? Let me know...
well i've been trading for over 2 years now learning and using loads of different methods and strategies, but i can tell you that i've never been more excited about trading like i am now after joining your thread and learning your approach to trading, and yesterday was the first time ever that i was able to hold my nerves and allow a trade to run for a 13 pips profit,,, believe me for me that's a great achievement ( nervous trader). so my answer to your question is NO DON'T QUIT my trading life depends on your teaching Mr Pip ,, lol,, so please keep it going and thank you very very much for your efforts and time, and now looking forward to the rest of your lessons,, videos,,strategies,, etc.
  • #2,065
  • Jan 24, 2013 11:08am Jan 24, 2013 11:08am
Quoting itinerant
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...
Great question and the answer is yes there is always that possibility. ABCD patterns complete more often then Gartleys so the reason to go for the 127 and the 38 BE protects you if it is a Gartley or anything else.
If you fail to plan, you plan to fail.
  • #2,066
  • Jan 24, 2013 11:12am Jan 24, 2013 11:12am
Quoting Starry
mr pip,
do you risk 1% per trade, even for trades with small sl and tp?
I use the smooth ratio MM system I posted it is based not on %. This is a much superior formula which gives you the best of both worlds, maximum protection when needed and excellent growth.
If you fail to plan, you plan to fail.
  • #2,067
  • Jan 24, 2013 11:21am Jan 24, 2013 11:21am
Quoting Mr. Pip
I use the smooth ratio MM system I posted it is based not on %. This is a much superior formula which gives you the best of both worlds, maximum protection when needed and excellent growth.
any idea anyone please in which post does Mr Pip explain the smooth ratio MM system ? Thanks
  • #2,068
  • Jan 24, 2013 11:24am Jan 24, 2013 11:24am
Quoting Georji
any idea anyone please in which post does Mr Pip explain the smooth ratio MM system ? Thanks
Here (http://www.forexfactory.com/showpost.php?p=6346961)
  • #2,069
  • Jan 24, 2013 11:27am Jan 24, 2013 11:27am
Quoting Georji
any idea anyone please in which post does Mr Pip explain the smooth ratio MM system ? Thanks
Here read these two articles
Attached File(s)
File Type: pdf DCASTFX_fixed_ratio_money_management.pdf   49 KB | 1,158 downloads
File Type: pdf DCASTFX_smoothed_ratio_money_management.pdf   664 KB | 1,413 downloads
If you fail to plan, you plan to fail.
  • #2,070
  • Jan 24, 2013 11:28am Jan 24, 2013 11:28am
Quoting BroncoCap
Here (http://www.forexfactory.com/showpost.php?p=6346961)
Thanks I reposted to make it easier.
If you fail to plan, you plan to fail.
  • #2,071
  • Jan 24, 2013 11:34am Jan 24, 2013 11:34am
Quoting Georji
well i've been trading for over 2 years now learning and using loads of different methods and strategies, but i can tell you that i've never been more excited about trading like i am now after joining your thread and learning your approach to trading, and yesterday was the first time ever that i was able to hold my nerves and allow a trade to run for a 13 pips profit,,, believe me for me that's a great achievement ( nervous trader). so my answer to your question is NO DON'T QUIT my trading life depends on your teaching Mr Pip ,, lol,, so please...
All that you do is much appreciated Mr. Pip.

Quick question - target for ABCD PRZ trade is 61 of AD. However, if candles move up in the PRZ, then reverses and again goes up in the PRZ, will our D move higher and hence 61 of AD change to give us a new target? Thanks again.
  • #2,072
  • Jan 24, 2013 11:43am Jan 24, 2013 11:43am
Quoting forextrader9
All that you do is much appreciated Mr. Pip.

Quick question - target for ABCD PRZ trade is 61 of AD. However, if candles move up in the PRZ, then reverses and again goes up in the PRZ, will our D move higher and hence 61 of AD change to give us a new target? Thanks again.
That is up to you but I readjust fib and target
If you fail to plan, you plan to fail.
  • #2,073
  • Jan 24, 2013 11:52am Jan 24, 2013 11:52am
Quoting Mr. Pip
Here read these two articles
Thank you guys
  • #2,074
  • Jan 24, 2013 1:16pm Jan 24, 2013 1:16pm
Quoting FineForex
As per Mr Pips rules isnt this a crab that needs to hit about 161 ext. ?
Im sorry it took me so long to respond but i don't know Mr. Pip's rules and I don't follow Mr. Pip. If you do then i guess that's good for you? I dont know however, from the brief amount that i have read today he does do a great job with this forum. For me and my rules a butterfly has an X-A retrace greater then the 618 as seen on my chart with an extension of that leg completing at a 1.27-1.618 also seen on my chart. For my rules on a crab the retrace of that same X-A impulsive leg cannot exceed a 618 retrace. I wont get into a pissing match over what pattern it is, if you and others see a crab then so be it. After all everyone's feed can can be different here or there. My only purpose was to offer up another trade idea or opportunity on the day.There is the bat on Daily and Weekly and the butterfly or crab as you say on the 15m. Hope you had a profitable day and green pips to all
Attached Image (click to enlarge)
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Don't follow me! You can and most likely will LOSE all your money!!!!
  • #2,075
  • Jan 24, 2013 1:39pm Jan 24, 2013 1:39pm
Quoting Mr. Pip
Don't worry about the stop out and good job a risk free trade is the best trade to be in!!!!
Thanks Mr.Pip. I like your MM strategy, will keep trying it out on my demo.
  • #2,076
  • Jan 24, 2013 1:48pm Jan 24, 2013 1:48pm
Quoting Mr. Pip
Here read these two articles
Im confused with the smooth curved MM. Doesn't this basically reduce the effect of compounding to basically smooth out your curve?

In the example shown, they started with 50000, and traded a max of 4 contracts. in the simulation, they ended up with 3000000 and was trading 10 contracts. A very large increase, but the contracts traded only increased by 2 or so! If you did it percentage wise, your contracts traded would be far higher than 10.

But then, what surprised me, is that their simulation with the green curve using fixed ratio money management (almost percentagewise basic MM), they went through a humongous drawdown, which must have consisted of many trades because they should have only been risking a small amount per trade. So they're saying that this new money management system reduced the effect of that large drawdown? This makes sense, because with the smooth MM they are basically decreasing the percentage that they risk as their account size grows larger.

If they had started trading during that period with their initial account, their account would have gotten destroyed, though they do have a limit, when equity reaches min value, only trade 1 contract. I guess such an event is rare, so they are not concerned with it.

You've said youve been through some bad times with your account, do you feel that this MM system which decreases the percentage increased as your account grows, has helped you survive those times?
  • #2,077
  • Jan 24, 2013 2:15pm Jan 24, 2013 2:15pm
Currently I'm +170 pips on this trade and 83 pips locked.
So far this week for me 160 pips in profit. The worst scenario would be a 243 pips for this week. Hope I can continue with positive results.
Thank you Mr. Pip a big part of this success is achieved thanks to you.


http://img716.imageshack.us/img716/2139/51614246.png
  • #2,078
  • Jan 24, 2013 2:42pm Jan 24, 2013 2:42pm
Quoting Mr. Pip
Great question and the answer is yes there is always that possibility. ABCD patterns complete more often then Gartleys so the reason to go for the 127 and the 38 BE protects you if it is a Gartley or anything else.
I guess so!
AUDJPY 5M
Attached Image (click to enlarge)
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  • #2,079
  • Jan 24, 2013 3:09pm Jan 24, 2013 3:09pm
Quoting zola320
Currently I'm +170 pips on this trade and 83 pips locked.
So far this week for me 160 pips in profit. The worst scenario would be a 243 pips for this week. Hope I can continue with positive results.
Thank you Mr. Pip a big part of this success is achieved thanks to you.
Trade closed with 248 pips profit after reaching TP.
  • #2,080
  • Jan 24, 2013 3:28pm Jan 24, 2013 3:28pm
Quoting kyurem
Potential good setup on GBPJPY 15MIN

will watch price action at PRZ..it looks beautiful
very nice price action, strong breakout of PRZ .

If 1H candle can close below 142.5, I would short strongly; if it doesn't, pattern is invalid....
Attached Image (click to enlarge)
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