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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

  • #2,681
  • Feb 7, 2013 1:55am Feb 7, 2013 1:55am
Quoting rimallz
Hello every one,
I recall that Mr. Pip posted an image -according to his rules of engagement - within the thread showing the ratios ranges of A, B, C and D of a all patterns together with different colors and labeling for each pattern. Please can any member remind me which page it was shown or upload it again?

thank you in advance.
The very first post has a link.

http://www.forexfactory.com/showthread.php?t=403393
  • #2,682
  • Feb 7, 2013 3:04am Feb 7, 2013 3:04am
Quoting rimallz
Hello every one,
I recall that Mr. Pip posted an image -according to his rules of engagement - within the thread showing the ratios ranges of A, B, C and D of a all patterns together with different colors and labeling for each pattern. Please can any member remind me which page it was shown or upload it again?

thank you in advance.
I think you are referring to these charts..
Attached Image(s) (click to enlarge)
Click to Enlarge Name: $EURUSD (60 Min) 12_28_2012 3 (1).jpg Size: 97 KB
Click to Enlarge Name: $EURUSD (60 Min) 12_28_2012 4 (1).jpg Size: 106 KB
Chance favors the prepared mind.
  • #2,683
  • Feb 7, 2013 4:00am Feb 7, 2013 4:00am
is the price action video posted by Mr Pip, if yes please provide the URL for it, i cannot locate it in the thread...

thanks.
  • #2,684
  • Feb 7, 2013 5:08am Feb 7, 2013 5:08am
Quoting foxybunny
Well done with those 8 trades for both the winners and BE.

When you are doing 8 trades over 2 days, you also need to ask yourself if you are over trading.
If the direction keeps changing during when you monitored, then can understand why you have many trades for both Long and Short.
But if the direction is mainly one way, then you should look to enter and to add in same direction, and hold just a little bit longer.

When you starting off, it is normal to monitor a few or many currency pairs.
Now I do briefly glanced only a few(2-4) pairs,...
Some very good points.

Am I overtrading? Yes and no.
'No' in so far as I'm making 1-2 trades per day on a currency pair, which is about where I'd like to be.
But 'yes' in that I'm monitoring 3 pairs.
Why am I monitoring 3 pairs? The nature of my job means I regularly travel between time zones (hence the name!). This means I don't have the luxury of picking one currency pair to focus on. So my compromise is to pick 2... and at the moment I'm thinning the pack down.

The reality of this situation is that I can't master 2 pairs as well as 1. So I've accepted that I'll have to settle for the more obvious trades, and miss the less obvious ones.

What I do need to work on is my trade management. Three breakevens were 3 times I failed to see the signs that the predominant trend wasn't going to reverses for long.
Plus several of my wins could have sailed a lot further if I'd had the confidence to keep with them.
As a consolation, at least it was only money left on the table rather than money lost!

Nobody's forex journey is the same - different pasts, different futures. Different goals and circumstances, different strengths and weaknesses. And as we've recently discussed, different data feeds!! But at least we can all learn from one another
  • #2,685
  • Feb 7, 2013 5:23am Feb 7, 2013 5:23am
thank you iceman777 for your help. I got this image.. but if I am not wrong there was one image posted earlier with same structure that you uploaded showing all hamonic patterns' A, B,C, and D points ranges with different colors for each pattern. Am I right or wrong please?
anyway sorry to give a hard time about it.. and thanks again. ..
  • #2,686
  • Feb 7, 2013 5:40am Feb 7, 2013 5:40am
Quoting rimallz
thank you iceman777 for your help. I got this image.. but if I am not wrong there was one image posted earlier with same structure that you uploaded showing all hamonic patterns' A, B,C, and D points ranges with different colors for each pattern. Am I right or wrong please?
anyway sorry to give a hard time about it.. and thanks again. ..
I'm not sure if this is what you're referring to, but try the DCASTFX ADVANCE PATTERNS RULES OF ENGAGEMENT ABCD.doc listed in this (http://www.forexfactory.com/showthread.php?p=6419872#post6419872) post
  • #2,687
  • Feb 7, 2013 6:58am Feb 7, 2013 6:58am
Hi folks. Just popping in to say hola. I am trying to set my fib settings in Ninja, but have a slight issue. I set everything as Mr PiP but how do I save a fib Template. it keeps going back to default when I open up new charts. Any help would be great. I am new to ninja and just trying to play around with it to get familiar before going live in it. I have been a metatrader for YEARS, but it seems ninja,tradestation and multicharts are the way to go. thanks
Empower Your Mind
  • #2,688
  • Feb 7, 2013 7:14am Feb 7, 2013 7:14am
Quoting vqtrader
Hi folks. Just popping in to say hola. I am trying to set my fib settings in Ninja, but have a slight issue. I set everything as Mr PiP but how do I save a fib Template. it keeps going back to default when I open up new charts. Any help would be great. I am new to ninja and just trying to play around with it to get familiar before going live in it. I have been a metatrader for YEARS, but it seems ninja,tradestation and multicharts are the way to go. thanks
I'm new to ninjatrader myself, and I don't have it in front of me... but with that said, when you are making your changes to the fib levels you can right click in that window and select "manage templates" (I think) from which you can save your settings.
If you want those settings to be your default, just use the name "Default" for the template.
  • #2,689
  • Feb 7, 2013 7:57am Feb 7, 2013 7:57am
I missed this opportunity, bat ...
yesterday I saw four models all winners, I arrived late ...

Attached Image (click to enlarge)
Click to Enlarge Name: eu30.gif Size: 30 KB
  • #2,690
  • Feb 7, 2013 8:04am Feb 7, 2013 8:04am
The problem of arriving late: we think we have missed a great opportunity.

But we have also missed all those failed patterns which could have tricked us... the failed patterns which we don't see anymore because the PA is blended into old candles. But if we saw them at the time, would we have taken them?

There'll be plenty more
  • #2,691
  • Feb 7, 2013 8:13am Feb 7, 2013 8:13am
Quoting itinerant
The problem of arriving late: we think we have missed a great opportunity.

But we have also missed all those failed patterns which could have tricked us... the failed patterns which we don't see anymore because the PA is blended into old candles. But if we saw them at the time, would we have taken them?

There'll be plenty more
yesterday I did four set-ups in real time, all were victorious, maybe it was a case but it's true
  • #2,692
  • Feb 7, 2013 8:43am Feb 7, 2013 8:43am
Quoting fiovit
yesterday I did four set-ups in real time, all were victorious, maybe it was a case but it's true
on the trades!
  • #2,693
  • Feb 7, 2013 9:43am Feb 7, 2013 9:43am
Quoting itinerant
on the trades!
Look, I found three of the four models of yesterday I told you in the market for new york

Attached Image (click to enlarge)
Click to Enlarge Name: euyest.gif Size: 29 KB


Attached Image (click to enlarge)
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Attached Image (click to enlarge)
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  • #2,694
  • Feb 7, 2013 9:46am Feb 7, 2013 9:46am
Quoting rimallz
thank you iceman777 for your help. I got this image.. but if I am not wrong there was one image posted earlier with same structure that you uploaded showing all hamonic patterns' A, B,C, and D points ranges with different colors for each pattern. Am I right or wrong please?
anyway sorry to give a hard time about it.. and thanks again. ..
Itinerant
keep up that performance, and you´re on your way to lunch...with Warren...Buffet...the only "difficulty" I see, is to keep that up...
Wish you the best...
  • #2,695
  • Feb 7, 2013 9:59am Feb 7, 2013 9:59am
Is this a 60 min Gartley?
It touched slightly the 78,6 at C, but did not close beyond...
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPY 60.jpg Size: 66 KB
  • #2,696
  • Feb 7, 2013 9:59am Feb 7, 2013 9:59am
Quoting cuchuflito
Is this a 60 min Gartley?
It touched slightly the 78,6 at C, but did not close beyond...
sorry that was 60 min USDJPY!
  • #2,697
  • Feb 7, 2013 10:17am Feb 7, 2013 10:17am
I'm risking this bat, maybe a little dirty, have an advantage of 30 pips ...

Attached Image (click to enlarge)
Click to Enlarge Name: ey.gif Size: 34 KB
  • #2,698
  • Feb 7, 2013 10:53am Feb 7, 2013 10:53am
Thank you itinerant (http://www.forexfactory.com/itinerant) for your update. I think i was wrong and the link you showed got it all.

Best wishes of success to you.
  • #2,699
  • Feb 7, 2013 2:59pm Feb 7, 2013 2:59pm
Hey guys,
I am not going to do this often, but just wanted to share a link to my journal (http://www.forexfactory.com/showthread.php?p=6428829#post6428829) where I am trading exclusively ABCDs. I am just gathering data at this stage and hit the 30 trade mark. I posted very basic statistics, but the moral of the story is:

Win Rate 43.3%
Avg Win 12.969
Avg Loss -7.275

Net-net, they are profitable. I am waiting for rollover tonight to see my exact balance as MT4 does not calculate it correctly, but expect it to be ~3% (n=4 trading days). These data do not consider Mr. Pip's additional considerations such as confluence, time-frames, etc. The swing was subjectively defined and then the trades were managed automatically post swing identification.

The key point is that I am only trading 1 pattern, 1 currency pair, but grinding out trades day in and day out without changing anything. I already have an improved feel for the market such as not trying to go long today during the precipitous drop caused by European news.

You must be in it to win it!

*This concludes Bronco's regularly scheduled interruption, back to Mr. Pip*
  • #2,700
  • Feb 7, 2013 4:27pm Feb 7, 2013 4:27pm
Quote
Nominal risk:reward should be ~1:1.618
How very... harmonic!!

Are you trading aggressive C, or completion of D?
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