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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

  • #3,201
  • Feb 27, 2013 12:02pm Feb 27, 2013 12:02pm
Dear Mr. Pip,

i am re leaved of your return. was a little concerned about your health.

about the rules and price action working in symphony with each other.

please be so kind to elaborate on price action. i understand that in an uptrend higher highs - lower highs - open above close. Is their more to price action, I am thinking candle sticks and/or when approaching areas of confluence of Fibonacci ratios & extensions? some areas seem to provide stronger zones of resistance and support.

i would truly grateful if you could provide some clarity and your opinion in this regards.

wishing you the vet best,
Chad
choose a job you love and you will never have to work a day in your life
  • #3,202
  • Feb 27, 2013 12:05pm Feb 27, 2013 12:05pm
Quoting lucariga
Hey guys (and MR PIP), I have a day job and can only trade 1-2 hours at the New York close (end of day).
In your experience which is the best timeframe to trade with for me?
That is a dead zone, spread widens, roll-over occurs, do not try to trade small swings, in my opinion, it is playing with fire.

I would suggest you step back and use daily, 4hr, and 1hr charts to find the patterns. You will have larger stops and will be in positions much longer, but if you use appropriate money management, you will be fine. You can place pending orders with stops and targets pre-defined. While you will not have the flexibility of watching the market, you will eventually begin to see what works and what does not. Because of your commitments, expect everything to take longer, just the way it is.

Good luck!
  • #3,203
  • Feb 27, 2013 12:14pm Feb 27, 2013 12:14pm
My Parting Farewell--

I believe it is time for me to leave this thread. I no longer trade in Mr. Pip's style and do not wish to derail his teachings.

But in closing, I wish to add that it is upon you to succeed. You cannot mimic Mr. Pip's exact trades, you cannot buy
profitable systems. Practice, practice, practice coupled with proper money management is key. I challenge any of you
to make the same style trade 100 times without changing anything, without questioning anything. Find a pattern,
trade it 100 times. My guess is 90% cannot do it. And do not look at charts from the past, they are dead and gone. Look
forward!

I have traded the markets in various forms for years (intently for last 6). I jumped from system to system, idea to
idea. You will fail if you do this. You must find something, test it thoroughly, decide if it is profitable, then and only
then can you trade it live, or move to a new idea. 1, 10, 30 trades are insufficient.

I thank Mr. Pip for providing the foundation for my new style. I took his teachings and made them my own. Doing this
is the only way to succeed. OWN IT.

I suggest this thread to back to identifying and learning the basics, ABCD and Gartleys. Teach each other through charts
and live trades. The past is the past, identify these as they form and share, everyone will learn. As I have said before,
much of Mr. Pip's success is because of dedication and screen time. He 'sees' the market better than any of us. Work
just as hard as him and you may succeed.

You can always find my postings in my journal (http://www.forexfactory.com/showthread.php?t=405388). See you there and good luck.

Cheers!
BroncoCap
  • #3,204
  • Feb 27, 2013 12:24pm Feb 27, 2013 12:24pm
Quoting BroncoCap
That is a dead zone, spread widens, roll-over occurs, do not try to trade small swings, in my opinion, it is playing with fire.

I would suggest you step back and use daily, 4hr, and 1hr charts to find the patterns. You will have larger stops and will be in positions much longer, but if you use appropriate money management, you will be fine. You can place pending orders with stops and targets pre-defined. While you will not have the flexibility of watching the market, you will eventually begin to see what works and what does not. Because of...
Many thanks, I think that's the way i'll do it.
For you pending orders with fixed TP are still profitable?
I mean:
-I find a swing AB on a 1HR chart,
-I place a pending order at 61,8% retracement of AB to enter in an "aggressive C"
-I place my TP at the 127% extension of AB
-Do you think I have to place also a reverse order at point D (127% of AB)?

Have you found to be more profitable trading aggressive C or D point?

I think many of us doesn't have the time to sit in front of a screen cause of day job, and talk about this system made with pending orders could be usefull for some.
Do you think so MR PIP?

Just my 2 cents
  • #3,205
  • Feb 27, 2013 12:33pm Feb 27, 2013 12:33pm
Quoting lucariga
Many thanks, I think that's the way i'll do it.
For you pending orders with fixed TP are still profitable?
I mean:
-I find a swing AB on a 1HR chart,
-I place a pending order at 61,8% retracement of AB to enter in an "aggressive C"
-I place my TP at the 127% extension of AB
-Do you think I have to place also a reverse order at point D (127% of AB)?

Have you found to be more profitable trading aggressive C or D point?

I think many of us doesn't have the time to sit in front of a screen cause of day job, and talk about this system...
Yes, make it your own system, but I would look to spread a wide net of trades with <1% account risk per trade.

I would look for well-formed waves (preferably with trend), and set a pending buy/sell at 61.8%, I would put stop at 78.6%, and target 0.0% (B).

That gives you a avg win/avg loss of >3.5 meaning you only need to be right ~25% of the time to be profitable.

I have not looked deeply into D entries.

Just realize that there will be bad streaks. The market right now is moving without much retracement, but there will
be times when it goes to 78.6% only to return to 0.0% without you. It happens. Key is to build a big enough
trade history to know what happens, when, in a given market.

You have a lot of work ahead of you, weeks, months, years. If it was easy, everyone would be doing it.

Good luck.
  • #3,206
  • Feb 27, 2013 1:44pm Feb 27, 2013 1:44pm
Quoting BroncoCap
Yes, make it your own system, but I would look to spread a wide net of trades with <1% account risk per trade.

I would look for well-formed waves (preferably with trend), and set a pending buy/sell at 61.8%, I would put stop at 78.6%, and target 0.0% (B).

That gives you a avg win/avg loss of >3.5 meaning you only need to be right ~25% of the time to be profitable.

I have not looked deeply into D entries.

Just realize that there will be bad streaks. The market right now is moving without much retracement, but there will
be times...
I've read your thread and find it VERY interesting... You approach problems exactely the same way I do and of course love your approach. Will definitely be active on your thread as soon as you open it.
Anyway let's keep this thread on track and focus only on MR PIP method.

Sorry all for the OT.
  • #3,207
  • Feb 27, 2013 1:57pm Feb 27, 2013 1:57pm
Gold and silver about to reach a harmonic completion ...... price is already slowing down .... in the eurusd when this occurs and it turns around, ive seen an acceleration toward the endpoint, after it slows down


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  • #3,208
  • Feb 27, 2013 2:00pm Feb 27, 2013 2:00pm
Quoting JayTrader
Butterfly traded this morning on AUDUSD TP1 Hit all at BE now. There is one also completed on H4 if you trade longer TF's

Attachment
Attachment
AUDUSD Trade got stopped out at BE +10 + first TP 35 points total
Here is another trade I took this Morning that finally got some legs. A completed Bullish Bat on H4 EJ. I would not be trading Harmonics without your Instruction Mr. Pip, never could quite understand it the way others presented it in the past, so Thank You and I am glad you are thinking of staying .
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Didn't take the H4 AUDUSD trade that i mentioned this Morning but it is starting to move up also
Always Learning
  • #3,209
  • Feb 27, 2013 2:44pm Feb 27, 2013 2:44pm
Hi guys,

Have not posted for a while - thread got to be to cluttered also in my opinon with a lot of personal takes not at all tought by Mr Pip
As more have already mentioned it has been said so many times by Mr Pip - keep it simple.

My favourite pattern at the moment is the Bat
According to what I have read elsewhere: Systematic tests by FxGroundworks have shown the Bat pattern success rates to be 89%-95%.

I try to trade with orderflow, very seldom against - and stick to just a few patterns which I intend to know all about when I have seen them play out a thousands of times. If you start looking for your preferred patterns, Bats for instance - you will discover they are everywhere, on all timeframes.

Also I have chosen not trade on biggest activety times (New Your opening) - have found this to be the times patterns can fail more often than other times when big players really can move.

Really hope Mr Pip will resume his teachings - I for one am following them to the letter. Watch his videos. Then watch them again, and again.
  • #3,210
  • Edited 3:19pm Feb 27, 2013 3:02pm | Edited 3:19pm
Abcd eurusd

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  • #3,211
  • Edited 5:36pm Feb 27, 2013 3:58pm | Edited 5:36pm
Hello,

From the method of Mr. Pip, can you please inform us about the percentage of losing trades, the percentage of trade at break-even, and the percentage of trades that reaches the 61.8% target?

Thank you in advance,
Entry is a science, exit is an art.
  • #3,212
  • Feb 27, 2013 4:10pm Feb 27, 2013 4:10pm
Quoting BroncoCap
My Parting Farewell--

I believe it is time for me to leave this thread. I no longer trade in Mr. Pip's style and do not wish to derail his teachings.

But in closing, I wish to add that it is upon you to succeed. You cannot mimic Mr. Pip's exact trades, you cannot buy
profitable systems. Practice, practice, practice coupled with proper money management is key. I challenge any of you
to make the same style trade 100 times without changing anything, without questioning anything. Find a pattern,
trade it 100 times. My guess is 90% cannot...
I will surely be sorry to see you go. I don't feel you need to do that and I've always said to make the patterns your own. I would really like for you to stay and contribute. I've e joyed all your posts and great advise. I hope you stay.
If you fail to plan, you plan to fail.
  • #3,213
  • Feb 27, 2013 4:14pm Feb 27, 2013 4:14pm
Quoting 4xf
Hello,

From the method of Mr Pips, can you please inform us about the percentage of losing trades, the percentage of trade at break-even, and the percentage of trades that reaches the 61.8% target?

Thank you in advance,
Work on improving your results as mine are mine and will differ from yours. If you are not satisfied with your results post some charts and we can figure out how to improve on them.
If you fail to plan, you plan to fail.
  • #3,214
  • Feb 27, 2013 4:16pm Feb 27, 2013 4:16pm
Small AB=CD on GBPAUD TP1 hit @ BE+5. Just like it was said a few posts back, you start to see these patterns on all your charts,
I have been trading a long time and this has been the easiest experience I have had extracting points from the markets. SO@ BE+5 on rest
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Always Learning
  • #3,215
  • Feb 27, 2013 4:26pm Feb 27, 2013 4:26pm
Great to see you back Mr. Pip.

You once attached a document with the distinct patterns that you use to trade. I know you haven't discuss the particular rules for all of them, but I went to Photoshop and merged them I don't know if it'd be ok to share that with the rest of the crowd or if I better PM it to you.
Best time to plant a tree was 20 years ago, second best is now
  • #3,216
  • Feb 27, 2013 5:42pm Feb 27, 2013 5:42pm
Mr. Pip,

First off great thread, I've been trading FX for 2 years (equities before that) and the only profitable way I've found is harmonics/PA. You're patterns are sweet and those Microsoft word documents that outline them are extremely helpful. I personally think you should organize the thread like this: send your documents out, post examples of the pattern you just sent out, and take a few questions (a few people!). Once you have all the documents out, the experienced and beginner alike can self-learn from them, until you've defined every pattern that you trade completely (like you did with ABCD and Gartley documents) no one will learn. Instead what seems to be happening is "Mr. Pip what does this mess on my chart mean?" and the reply is "Oh that's no pattern at all, you need to bear with me as I slowly show you". I think beginners need it all laid out before them, and then you can slowly dig into details. In my experience it works better that way as questions are answered in outlined documents (they're like textbooks) and then people ask questions on material. Again, great thread!
  • #3,217
  • Feb 27, 2013 5:46pm Feb 27, 2013 5:46pm
Quoting horuxito
Great to see you back Mr. Pip.

You once attached a document with the distinct patterns that you use to trade. I know you haven't discuss the particular rules for all of them, but I went to Photoshop and merged them I don't know if it'd be ok to share that with the rest of the crowd or if I better PM it to you.
Go ahead and post it I will take a look. Or send it by PM and I can post it too. Thanks
If you fail to plan, you plan to fail.
  • #3,218
  • Feb 27, 2013 8:02pm Feb 27, 2013 8:02pm
Hi,

I happened upon this thread after searching to understand more about this method of trading. I must say Mr. Pip method of teaching had greatly helped me understand it better. Clear and concise with charts, the visual aids in the teaching.

I did not managed to read every page of this thread and only read the compiled one and may have missed out on some information.

Trying out the pattern, I did a mock setup of GBPAUD H1. (I did not take this trade)

I just want to seek the more experienced here for advice if the setup is valid.

Thank you.

A little question for the more experienced here, if this trade were to be taken. How will you guys position the SL ? Point X ? A certain number of pips out of the PRZ ?
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  • #3,219
  • Edited 1:25am Feb 28, 2013 1:08am | Edited 1:25am
Quoting Mr. Pip
Go ahead and post it I will take a look. Or send it by PM and I can post it too. Thanks
Welcome back Mr Pip

In your opinion, how can I remove discretion on picking swing points? Is there any method?

I'm never sure of my choice, because I can transform an AB=CD to an ABCD just by picking a higher/lower high/low.
If I understanded well your teachings (I'm not english), is better to trade an aggressive C on an ABCD pattern but I'm always unsure to be in front of an ABCD or an AB=CD because it depends on my pick of the AB swing points...

See below EUR/USD daily chart

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  • #3,220
  • Feb 28, 2013 3:05am Feb 28, 2013 3:05am
Quoting liemo
I sort of see what you are saying but don't really get it. I referred back to your aggressive C sell you explained in the video, between the B and C leg you can see PA moving in waves creating HH and HL. Not sure what is so different with my chart making it an invalid buy.
Glad to see you back Mr. Pip. We all missed you. I'm sure everyone here understands your frustration and will do all they can to keep this thread clean and back on track. I for starters will keep my charts clean of any indicators and will post only what you teach. When you have a spare moment, are you able to answer my question about, still having this lingering in my head since then. Thanks.

Back to business..took long G/A trade today, based on ABCD pattern, completing at previous support. If anyone has any opinions or issues with the setup trade please feel free to let me know, here to learn. Whoops had my fib draw the wrong way, the BC leg did hit 78.6% AB and did not close above it.
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