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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

  • #3,081
  • Feb 21, 2013 5:11am Feb 21, 2013 5:11am
Quoting alij79
ABCD pattern failed multiple times on 15 min TF specially on Gbp/jpy in last few days........anyone noticed when market is trending strongly the patterns tend to fail...???
Post chart where you see the pattern failing, then one of the more experienced guys maybe be able to provide some more insight.
  • #3,082
  • Feb 21, 2013 5:33am Feb 21, 2013 5:33am
Quoting CNTrader
Target 2 attained. 120 pips banked stops remain at break even on remaining position
Gm Traders Target 3 attained for 207 pips.
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Don't follow me! You can and most likely will LOSE all your money!!!!
  • #3,083
  • Feb 21, 2013 5:37am Feb 21, 2013 5:37am
Quoting CNTrader
Gm Traders Target 3 attained for 207 pips.
Nice one!!
"The only thing I’m addicted to right now is winning."
  • #3,084
  • Feb 21, 2013 8:07am Feb 21, 2013 8:07am
Hi Jason,, are these spreads available on micro lot accounts?
Quoting Jason Rogers
Hi Georji,

Our spreads, which you can see on Forex Factory's live spread table (http://www.forexfactory.com/brokers.php#spreads), are available for account balances as low as $50. The spreads are variable, because on our No Dealing Desk forex execution, we simply pass on the best prices we receive from 10+ liquidity providers and add a fixed pip markup for our profit which acts as a commission. That means when you see the spreads widen, it’s because the banks quoting prices widen their own spreads during volatile markets.

That’s...
  • #3,085
  • Feb 21, 2013 8:18am Feb 21, 2013 8:18am
Hello and welcome to the thread, watch the links in Mr Pips first post on page one or alternatively all of his videos on you tube and the answers are there by his rules of engagement, otherwise it might get confusing with others different approach to the subject.
Quoting jaksasquatch
Hey all,

I've recently come across this thread and its definitively got my interest. I trade harmonics on my FX account but realize I'm doing it a little different then Mr. Pip (I like his way better after seeing it though), I've been taking AB=CD (not ABCD) on confluence with fib retracements and extensions. It yields good results but the risk can get pretty high and they're not as accurate. I'm posting because I have a question, how do you all manage trades? I usually take profits at .382 (moving to BE after price makes a trend i.e. HL after...
  • #3,086
  • Feb 21, 2013 8:29am Feb 21, 2013 8:29am
Quoting alij79
ABCD pattern failed multiple times on 15 min TF specially on Gbp/jpy in last few days........anyone noticed when market is trending strongly the patterns tend to fail...???
Any counter trend trade is risky and prone to fail. My advice is to first look only for trades with the trend if you are less experienced.

But you must have warning signs and watch pa as we enter prz for possible signs of failure.
The world you desire can be won. It exists.. it is real.. it is possible..
  • #3,087
  • Feb 21, 2013 10:52am Feb 21, 2013 10:52am
Today's PA: Didn't take a single trade today which is good as they would have been losers. It appears to be one of those lovely sort of reversal days but I was unable to see an obvious abcd pattern finishing at the bottom so I just tried to follow PA.


There was a possible abcd from an agro C that could have been taken around 7:30. Following it up there was no confluence regarding legs so there was only the 68 zone of the current left hand main swing at the time, the extension zone and some structure. Having seen the bulls buy at the previous resistance I opted not to take the second attempt to reverse opting for a higher retrace. The bulls bought aggressively on the 8:20 bar with an attempt at a wedge top in the zone after a bull breakout bar and possible exhaustion. Didn't like the signs of bullish strength so I passed.


Then after failing to see the bull flag forming (didn't have my brown structure boxes until after the fact) I tried to find the next prz as the market didn't give me an agro C up. 2 possible legs in light blue and blue with extension confluence formed but lacked confluence I wanted to see in the new main swing. When the bull spike stopped and reversed just above the prz I considered jumping in but I couldn't get a stop I was happy with and the move was fast so I sat it out. I then realized I had missed the agro C up and this made me sad. So sat on my hands until the double top but couldn't find a harmonic reason to take the trade as I couldn't see anything harmonic to validate taking the trade so I passed and it looks like it was the one .


Did anyone catch the rides up? Hope you all had a great day. Cheers.
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Finally out of the shadows.
  • #3,088
  • Feb 21, 2013 11:27am Feb 21, 2013 11:27am
Quoting gaf
Today's PA: Didn't take a single trade today which is good as they would have been losers. It appears to be one of those lovely sort of reversal days but I was unable to see an obvious abcd pattern finishing at the bottom so I just tried to follow PA.


There was a possible abcd from an agro C that could have been taken around 7:30. Following it up there was no confluence regarding legs so there was only the 68 zone of the current left hand main swing at the time, the extension zone and some structure. Having seen the bulls buy at the...
It's funny how I look at your chart and I see a lot of what I was doing was the same. I was waiting for an Agg C Sell that never came but also lined up well with an AB=CD and a 127.2%/138.2% extension. Now the market is trending back down.

I feel like my problem is identifying as many opportunities as Mr. Pip. The question is, obviously, what did he see and what trades did he take today?

So, I'm with you. No trades for me.
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Chance favors the prepared mind.
  • #3,089
  • Feb 21, 2013 12:12pm Feb 21, 2013 12:12pm
Hello Scott,

what do we have to look in PA when we enter PRZ ? i am still unable to understand PA and make decision whether market will continue with trend or reverse, will appreciate if u can assist on this...

Quoting Mr. Scott
Any counter trend trade is risky and prone to fail. My advice is to first look only for trades with the trend if you are less experienced.

But you must have warning signs and watch pa as we enter prz for possible signs of failure.
  • #3,090
  • Feb 21, 2013 12:15pm Feb 21, 2013 12:15pm
Hi Guy's, Managed to take a short on EUR/GBP H4 Bear AB=CD formation.
  • #3,091
  • Feb 21, 2013 12:19pm Feb 21, 2013 12:19pm
Quoting alij79
Hello Scott,

what do we have to look in PA when we enter PRZ ? i am still unable to understand PA and make decision whether market will continue with trend or reverse, will appreciate if u can assist on this...
Hello,

Basically watch PA as it approaches, ideally, you would like to see it slow.

Warning signs a harmonic pattern will fail:

1) gaps
2) wide range bars, especially towards completion
3) tail closes at completion
4) very steep second leg

Any of these would be warning signs that the set up is more likely to fail.
The world you desire can be won. It exists.. it is real.. it is possible..
  • #3,092
  • Feb 21, 2013 1:38pm Feb 21, 2013 1:38pm
Today was a fresh demo account, and overall the markets were kinder to me than yesterday and Monday:

Total for day = 68 pips (2% account growth)

EURUSD (+40 pips)
Buy (0)
Sell (+40)
Sell (0)
Sell (-10)
Sell (+10)

AUDUSD (-1 pip)
Buy (-13)
Sell (+22)
Sell (-10)

USDJPY (+29)
Sell (+29)
  • #3,093
  • Feb 21, 2013 1:50pm Feb 21, 2013 1:50pm
Quoting Mr. Scott
Hello,

Basically watch PA as it approaches, ideally, you would like to see it slow.

Warning signs a harmonic pattern will fail:

1) gaps
2) wide range bars, especially towards completion
3) tail closes at completion
4) very steep second leg

Any of these would be warning signs that the set up is more likely to fail.
I dont know, ive seen price enter the PRZ and then slightly gap up, and then drop like a rock, a fair number of times. Ive also seen the opposite (but it doesnt shoot up, just slowly goes up, it is a prz) .... i dont think gaps are very significant ...
  • #3,094
  • Feb 21, 2013 1:50pm Feb 21, 2013 1:50pm
Quoting itinerant
Today was a fresh demo account, and overall the markets were kinder to me than yesterday and Monday:

Total for day = 68 pips (2% account growth)

EURUSD (+40 pips)
Buy (0)
Sell (+40)
Sell (0)
Sell (-10)
Sell (+10)

AUDUSD (-1 pip)
Buy (-13)
Sell (+22)
Sell (-10)

USDJPY (+29)
Sell (+29)
Nice work, trending market wrecking havoc on my demo acct, but doing some analysis last night, and have a way to work through it. Will post an update to my journal tonight. Still gathering data, but the results are quite amazing. But, as I noted, this is a peculiar market without deep retracements. So, more demo!

Cheers and great stuff. Post a chart or two if you have time.
  • #3,095
  • Feb 21, 2013 1:50pm Feb 21, 2013 1:50pm
Quoting Starry
I dont know, ive seen price enter the PRZ and then slightly gap up, and then drop like a rock, a fair number of times. Ive also seen the opposite (but it doesnt shoot up, just slowly goes up, it is a prz) .... i dont think gaps are very significant ...
except thats a tick chart, and the gap is like a pip...
  • #3,096
  • Feb 21, 2013 1:54pm Feb 21, 2013 1:54pm
Quoting Starry
I dont know, ive seen price enter the PRZ and then slightly gap up, and then drop like a rock, a fair number of times. Ive also seen the opposite (but it doesnt shoot up, just slowly goes up, it is a prz) .... i dont think gaps are very significant ...
This is ultimately why I take a more mechanical approach. If and only if I can prove that taking every trade results in a growing equity curve will I work with a system. Trying to filter trades, read this, watch that, it becomes hugely subjective. If you commit yourself as Mr. Pip did, watching the market for days, weeks, years, that philosophy will work. Otherwise you will start guessing, missing winners, taking losers, and it will unravel.

Interestingly, looking back on 75 trades, I found interesting patterns, some which absolutely confirm Mr. Pip's teachings. I will post them to my journal tonight (hopefully) and share a summary here.

Keep at it!
  • #3,097
  • Feb 21, 2013 2:18pm Feb 21, 2013 2:18pm
Quoting BroncoCap
This is ultimately why I take a more mechanical approach. If and only if I can prove that taking every trade results in a growing equity curve will I work with a system. Trying to filter trades, read this, watch that, it becomes hugely subjective. If you commit yourself as Mr. Pip did, watching the market for days, weeks, years, that philosophy will work. Otherwise you will start guessing, missing winners, taking losers, and it will unravel.

Interestingly, looking back on 75 trades, I found interesting patterns, some which absolutely confirm...
agreed thats what i find myself doing. im writing down what extension zones to use with different types of impulses, so it is no longer subjective (which confluence prz to pick)! then i will apply it to the charts, plus some from before 2012, to see how it works..... cant wait to see what you found but yeah, mr pips teachings are awesome, especially the one which says only look at relevant swings, dont worry about past. After all, before you could even use multiple timeframes, you would need to master just using local information on that larger timeframe, so its a win win...
  • #3,098
  • Feb 21, 2013 2:19pm Feb 21, 2013 2:19pm
I aim for my intuition to eventually coincide with rules , and that i can eventually embelish them on the fly (improvising , but not going to worry about that right now. just need one set of rules based on my observations .....
  • #3,099
  • Feb 21, 2013 3:10pm Feb 21, 2013 3:10pm
Quoting BroncoCap
Nice work, trending market wrecking havoc on my demo acct, but doing some analysis last night, and have a way to work through it. Will post an update to my journal tonight. Still gathering data, but the results are quite amazing. But, as I noted, this is a peculiar market without deep retracements. So, more demo!
I'm very much looking forward to seeing your results - it sounds like you've been very thorough in your data collection and analysis.

Quote
Cheers and great stuff. Post a chart or two if you have time.
I had intended to start a trading journal, but for some reason I can't get the FF trade explorer to register any of my accounts. So I've gone with myfxbook for now.

The reason I've not posted charts recently is because I'm worried my own nuances to the style may confuse others, and/or be disrespectful to Mr. Pip.
For example, I just took another EURUSD trade with the entry based upon a primary ratio alternative AB=CD pattern (0.618AB=CD)... in keeping with this thread... backed up with an oversold RSI indication ... certainly not in keeping with this thread!
  • #3,100
  • Feb 21, 2013 3:45pm Feb 21, 2013 3:45pm
Hello People !
(sorry for my bad English)
I'm new here. I'm following this thread and this is really fantastic. I was reading a lot of threads on this forum and tried to earn money on demo, but I couldn't. I think that this thread, Mr.Pip and you will help me to understand what is important to market and how to start earn money in this machine. I'm on page 140 now, I wish I read this thread this week. I see that Mr.Pip do not post for three days, I'm awaiting for more live examples from Mr.Pip's trading - this will help to understand his system and thinking.
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