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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

  • #2,501
  • Jan 31, 2013 2:37pm Jan 31, 2013 2:37pm
Hi Mr.Pip,
Firstly I would like to thank you for starting this thread and sharing your knowledge with all of us! For the past 2 weeks I have been reading through the entire thread, studying and applying the techniques you have taught us so far.
This is the first time learning about harmonic patterns and really loving it! I’ve changed my approach to trading and thus far I’ve been amazed by the results.
Could you post a chart of your trades from today? I would like to compare to see what I have missed or done wrong. I will attach my trading chart of today. The last pattern I traded (the bearish crab) is not according to Mr.Pip’s rules however it is still a valid crab according to Scott Carney’s book harmonic trading, therefore I took the trade.
Keep up the good work!
Attached Image (click to enlarge)
Click to Enlarge Name: $EURUSD (233 Tick) 31-1-2013.jpg Size: 129 KB
"The only thing I’m addicted to right now is winning."
  • #2,502
  • Jan 31, 2013 8:22pm Jan 31, 2013 8:22pm
Hi Mr. Pip,

I'm really amazed by how harmonics work in the Forex market. Thank you for sharing.

I still got much to learn from you. Hope you can help me along the way.

Is this a valid ABCD pattern as said by your rules of engagement?
Attached Image (click to enlarge)
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  • #2,503
  • Jan 31, 2013 8:23pm Jan 31, 2013 8:23pm
Not sure if anyone else is seeing this, a potential AB=CD on the 4H EU.
Will monitor PA on a lower TF for reversals...

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  • #2,504
  • Jan 31, 2013 8:25pm Jan 31, 2013 8:25pm
Quoting Mr. Scott
Not sure if you guys have posted this before as I do not follow this thread that closely even though Mr. Pip does a great job here.

I have more if interested.
Thats really good, i would be interested in seeing more. Read it , makes sense, sounds like what mr pip had on his charts, i believe he highlights demand/supply levels.
  • #2,505
  • Jan 31, 2013 8:28pm Jan 31, 2013 8:28pm
Another possible ABCD?
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSD01FEB.png Size: 133 KB
  • #2,506
  • Jan 31, 2013 8:51pm Jan 31, 2013 8:51pm
Now got Ninja Trader to work with MBT Demo.

Noticed that Volume spikes on MBT Demo from "Thousands" to suddenly "Millions", unsure if this is normal.
The Volume does not seem to give a general flow for MBT Demo.

As E/U been in strong uptrend on 30-Jan, I was looking for Shorts on 31-Jan.
And I wanted to use the Ninja Trader 233-Ticks to trade this chart.

Can see the multiple shorts on 233-T and basically all transactions hit too much SL.
The Down Arrow and Down Triangle show the Short entries.
The Blue Circle showed the SL.
Unable to find tick and cross icons on Ninja Trader.

I can see that to trade 233T is different to how I would look for on M15.
233-T for me means I have to faster in my entries and also able to change directions faster like Long and Short.
Whereas my normal trade is only on one direction for trend on M15.

Well mistakes mainly was with such a strong UpTrend on 30-Jan, I was looking for Reversal to Short on 31-Jan, but actually there was none and I got into the wrong direction.
Basically took ABC-Short around 61.8% and 78.6%, where the first short was based on a Doji off 233-T.

Here I was too much hard looking for harmonic pattern to reverse, when I should just look more closely on the Price Action showing around 1.3545 to be Strong Buyers to go Long instead.
And I did NOT take any Long.

Also attached are M15, 377-Ticks, 100-Ticks for longer ticks and shorter ticks comparison.
Note I did not look at these charts while trading, as want to just use 233-T.

From M15, I can draw a clearer Fib.
From 377-T, I can draw a clearer Fib showing first ABC-Short that really was incomplete(my real entries), and second ABC-Long (that I miss taking).
The 377-T shows cleaner picture, but may be a bit too slow to trade on.

From 100-T, I only see noise and mess regardless whether I compress this 100-T or not compress, I could not trade on this chart.

So for 233-T give a nice tradeable chart with clearer support and resistance lines and a faster price action.

I need to play more attention on 233-T while watching out for my normal M15 chart to give a clearer trend.
And I need to change more directions if playing on 233-T, Long then Short, or Short then Long!!

233-Tick Short Exit 1.
Attached Image (click to enlarge)
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233-Tick Short Exit 2.
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M15.
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377-Tick.
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100-Tick.
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  • #2,507
  • Jan 31, 2013 9:02pm Jan 31, 2013 9:02pm
Quoting Starry
Why dont you just download ninjatrader? Its free, you just need to use your mbt login.

http://www.ninjatrader.com/ConnectionGuides/MBTrading-Connection-Guide

But your chart looks fine..
heres my 100 tick chart of the same time, 2 of different zoom/stretch compression factor, looks very similar, yours is just a bar chart, and not a candlestick. you should be able to change that!

Also, on ninjatrader you can dramatically change/compress the bars, so it might look different.

Attachment
Attachment

To...
Thanks for the hints to get NT working.
  • #2,508
  • Jan 31, 2013 9:04pm Jan 31, 2013 9:04pm
If price ever reaches here, it would be a good time to buy. Has a good swap demand zone coinciding with prz.
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  • #2,509
  • Jan 31, 2013 9:20pm Jan 31, 2013 9:20pm
This was a really good trade by good2cu, has a strong supply zone + abcd

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  • #2,510
  • Jan 31, 2013 9:51pm Jan 31, 2013 9:51pm
Quoting foxybunny
Yes, I do trade smaller swings AFTER the Main Swing that is based on these harmonics like AB=CD, entering mostly at C-points.

Yes, I also do trade smaller swings DURING the Main Swing and these patterns may NOT be according to these harmonics of AB=CD.

I may actually trade DURING the Main Swing if my previous trades hit SL, and now the direction reversed again and is in favour with my original direction, and somehow it just become the Main Swing.

The Main Swings is just easier to see and use it as a guideline.
Prefer to wait for deeper...

The charts below are for my Long campaign on E/U M15 on 29-Jan.

These Charts also reflects what I meant in my above post.

On 28-Jan the Main Swing is Up.
Wait for Down retracement on 29-Jan, that entered into 78% and 88% zone.
Waited for further Price Actions to confirmed and went Long around the 62% at first entry at my 10:15 time bar.

What I missed out was the 127% reversal around 1.3415 that was the bottom for 29-Jan.

Took a second bite Long entry on my 12:15 time bar, but unfortunately it was NOT a breakout, it was a Fakeout.
This was a Oops on my part with entering on such a big-bar fakeout.
Hit a few SL as price went down further than the 100% as normally happened with Oops, but still hold some Longs that stage.

Price later climb back up to the original 62% and went on my third Long at my 16:00 time bar.

The ticks were my small Profits for29-Jan and big Profits for 30-Jan as I held positions overnight as trend was still strong up.
All SL were at break even during overnight positions.

My Summary:
Basically this was my ABC-Trend play using previous day's 28-Jan Main Swing.
I took a Long on 29-Jan AFTER the 28-Jan Main Swing.
Some hit my SL, but the direction still seem to be in the original direction was was able to take in more Long.
The Second and Third Long was entered DURING that day's 29-Jan Present Main Swing, and those Longs BECAME the Main Swing for that day 29-Jan and on next day 30-Jan.

The difference between this Long campaign on 29-Jan and Short campaign on 31-Jan are:
- Long looking at M15, Short looking at 233-Ticks.
- Long has better trend direction. Short was really just in range during my entries.
- Entered second and third batches of Long when first batch was profitable or break even. But for Short, entered multiple batches when all positions were losing.
- Long was able to enter SL to break even for multiple batches, but did not do that in Short.
- Long campaign saw the clear up trend in direction and waited patiently for a nice deep retracement. For Short, did not differentiate between the real trend and my trading bias, and did NOT wait patiently for a deep retracement.

Hope that explains (to Myself !!!).



ABC E/U M15 Long Exit Zoom Out:
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ABC E/U M15 Long Exit Zoom In-1:
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ABC E/U M15 Long Exit Zoom In-2:
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  • #2,511
  • Jan 31, 2013 10:45pm Jan 31, 2013 10:45pm
Thank you, Mr. Pip, for posting the Ninjatrader Fib. properties and all your videos. I am excitedly working my though the thread and the book you recommended. You are much appreciated. Regards,
  • #2,512
  • Feb 1, 2013 3:34am Feb 1, 2013 3:34am
[quote=foxybunny;6410219]Now got Ninja Trader to work with MBT Demo.

Noticed that Volume spikes on MBT Demo from "Thousands" to suddenly "Millions", unsure if this is normal.
The Volume does not seem to give a general flow for MBT Demo.

Hey I got the Ninja working too...
Opened also the MBT desktop pro, I hardly see any difference with Ninja...all for free...wonder if Ninja comes from ninia, spanish for little girl...

I wouldnīt pay attention to volume in Forex, itīs not centralized, I could hardly imagine any accuracy to all those volume indies...
..my 2 cents worth..
  • #2,513
  • Feb 1, 2013 4:03am Feb 1, 2013 4:03am
[quote=cuchuflito;6411142]
Quoting foxybunny
Now got Ninja Trader to work with MBT Demo.

Noticed that Volume spikes on MBT Demo from "Thousands" to suddenly "Millions", unsure if this is normal.
The Volume does not seem to give a general flow for MBT Demo.

Hey I got the Ninja working too...
Opened also the MBT desktop pro, I hardly see any difference with Ninja...all for free...wonder if Ninja comes from ninia, spanish for little girl...

I wouldnīt pay attention to volume in Forex, itīs not centralized, I could hardly imagine any accuracy to...

Good you got Ninja working.

Are you saying MBT Desktop Pro is basically same as Ninja ?

I saw it as different coz I could not specify the ticks I want in MBT Desktop Pro.

Volume is useful, even in Forex Demo platforms, just use it as Relative Volume.
Just could not compare Vol in MBT, also it keep disconnect.

Oh, wanted to ask you about your previous post where you mentioned:
"People talk about Miner, heīs excellent, follow his book and most likely you will loose money..".

I enjoyed reading Miner's book.

What specifically you meant as in "which part to follow" and you will loose money?
  • #2,514
  • Feb 1, 2013 4:32am Feb 1, 2013 4:32am
[quote=foxybunny;6411251]
Quoting cuchuflito


Good you got Ninja working.

Are you saying MBT Desktop Pro is basically same as Ninja ?

I saw it as different coz I could not specify the ticks I want in MBT Desktop Pro.

Volume is useful, even in Forex Demo platforms, just use it as Relative Volume.
Just could not compare Vol in MBT, also it keep disconnect.

Oh, wanted to ask you about your previous post where you mentioned:
"People talk about Miner, heīs excellent, follow his book and most likely you will loose money..".

I enjoyed reading Miner's...
Yes, ticks for Ninja, understand I use 5 minutes so I guess it should work fine for me.
I guess I was unfair on Miner, have all his books, courses, heīs an excellent teacher, and became famous winning the Best Trader Award back then..
He does go very very deep on Fibos. Guess itīs just me, but I tried and tried and only barely made it to BE.I really like Miner, it just didnīt work for me.
Specially the oscillator on different time frames, short a trending FOREX, just because the weekly is oversold,and you could get stopped for 3 weeks over and over again..
All the best..
  • #2,515
  • Feb 1, 2013 4:43am Feb 1, 2013 4:43am
[quote=foxybunny;6411251]
Quoting cuchuflito


Good you got Ninja working.

Are you saying MBT Desktop Pro is basically same as Ninja ?

I saw it as different coz I could not specify the ticks I want in MBT Desktop Pro.
Not sure if this matters to anyone but if using MB Trading platform to change the ticks from the preselected ones you have to manually type in the tick you want to use by highlighting the tick and just type in 233

Sorry foxybunny I had put this in your wall just new to posting (my daughter showed me the correct way to post).

Regards.
It's not about how much you make, it's about how much you don't lose
  • #2,516
  • Feb 1, 2013 4:45am Feb 1, 2013 4:45am
[quote=cuchuflito;6411349]
Quoting foxybunny

Yes, ticks for Ninja, understand I use 5 minutes so I guess it should work fine for me.
I guess I was unfair on Miner, have all his books, courses, heīs an excellent teacher, and became famous winning the Best Trader Award back then..
He does go very very deep on Fibos. Guess itīs just me, but I tried and tried and only barely made it to BE.I really like Miner, it just didnīt work for me.
Specially the oscillator on different time frames, short a trending FOREX, just because the weekly is oversold,and you could get...

OK understood on what you mean now with the multi-timeframe indicators.

For short-term spot forex trading, better focus on short time frames like M15, H1 and D1.
We don't concern on weekly or monthly charts (that may be needed like for Stocks).

Hope you throw out those indicators that did not work well for your situations, just keep what is useful.

All the best to you too.
  • #2,517
  • Feb 1, 2013 4:51am Feb 1, 2013 4:51am
[quote=martyhype;6411395]
Quoting foxybunny

Not sure if this matters to anyone but if using MB Trading platform to change the ticks from the preselected ones you have to manually type in the tick you want to use by highlighting the tick and just type in 233

Sorry foxybunny I had put this in your wall just new to posting (my daughter showed me the correct way to post).

Regards.

Perhaps I just missed seeing that option on changing ticks for MBT.
Thanks for mentioning that.


Oh, you can just delete that post/message from my profile.
Or just change that message to make it more relevant.

Thanks to your daughter as well.
  • #2,518
  • Feb 1, 2013 7:30am Feb 1, 2013 7:30am
i get in just as news is being announced cool
  • #2,519
  • Feb 1, 2013 7:36am Feb 1, 2013 7:36am
Quoting Starry
This was a really good trade by good2cu, has a strong supply zone + abcd

Attachment
Just around where you marked "swap supply zone" there is a gap and a tail close. This is a very good example of what Scott Carney talks about on Page 254 of the Harmonic Trader:
Quote
Once a Potential Reversal Zone is identified, it is important to look for
any prior gaps in a stock’s price action that corresponds with this area.
Often, a prior gap will get filled when it occurs within a Potential Reversal
Zone. I utilize a rule of thumb, which states that most prior gaps get filled –
sooner or later. Although I can not provide exact statistical evidence to
prove this rule valid, I can state upon observing thousands of charts that
prior gaps are filled more than they are not. Therefore, prior gaps provide
even further indication of a potential reversal [...] Price gaps are significant because they mark a place in the history of a
price action where the mass perception of has changed in a dramatic fashion.
This price action is especially significant when a gap is followed by a wide
price range and/or tail close. So, when an unfilled gap is in the same price
area as a Potential Reversal Zone, it is important to recognize this as an
especially significant opportunity.
  • #2,520
  • Feb 1, 2013 7:55am Feb 1, 2013 7:55am
Did anyone manage to get in on the trade at the location circled? Fortunately i barely didnt get stopped out

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