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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

  • #3,401
  • Mar 8, 2013 7:04am Mar 8, 2013 7:04am
Quoting lucariga
For me the 3 swings you marked are all main swings and very very very good A points, ok, they are part of a bigger swing but I think 100 people would agree (as Mr Pip said many times...lol) that they are A points.
Second than that, as you know, in this thread we must keep out subjectivity, and I think that early exit or early BE is too much subjective and couldn't be replicated for tests. for this pourpose, Mr Pip teach very rigid rules about fibo's ratios and the SL has to be moved to BE not before the 38%, otherwise the system wouldn't be replicable.
As...
I agree that for testing and gathering statistics you should follow the rules.
You had 3 different A points to consider when drawing your fibs. Keep statistics on each one you traded so in the future you know the probabilities of them working out.
Like I said it's OK to trade the smallest one ( your entry was fine) and I also trade the smaller ones, as long as you're aware of the larger ones.
Once live trading or as someone increases their lot size risking more money, PA will affect ones trading decisions.
PS: What I meant to say on my chart was what point A to use not what swing. Sorry for the confusion.
Barry
  • #3,402
  • Mar 8, 2013 7:53am Mar 8, 2013 7:53am
Anyone catch the EURGBP ABCD pattern? I caught it on the 5 min. I caught the aggressive C entry, not at the 78.6 level, but at the 61.8 level. It shot straight down to the 127 extension of AB and I believe stopped there because of the daily pivot. I notice on the lower time frames, Price Action respects these lines. Anyways, after that, I had a limit order waiting to take the price back up to the 61.8 area in the second picture. My point D was entered at the daily pivot. Not too bad, both were for a total of 47 pips.

I usually only focus on the EURJPY pair, but it's been trending lately with no patterns.
Attached Image(s) (click to enlarge)
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  • #3,403
  • Mar 8, 2013 8:03am Mar 8, 2013 8:03am
hi everyone,
i am new to harmonic trading, does it a valid bearish BAT ?
give me some idea.
thanks everyone for helping !

ky
http://www.forexfactory.com/attachment.php?attachmentid=1148883&stc=1&d=1362751391
Attached Image (click to enlarge)
Click to Enlarge Name: $EURUSD (233 Tick) 3_6_2013.jpg Size: 116 KB
  • #3,404
  • Mar 8, 2013 8:43am Mar 8, 2013 8:43am
Quoting jack h
ewgcorp, my take on the EURUSD H4 chart:

The purple fib indicates we are at a possible C. An aggressive "C" short here would be with order flow on this timeframe. SL about 70 pips if placed above "A".

If price does fall, a long could be considered if price reaches the 61 retracement of the green fib. An aggressive "C" long there would be against order flow on this timeframe.

Attachment

**EDIT** price has moved above the 78 on the purple fib, If it closes above the 78 then the "C" is invalid.
Hi Jack,

thanking you,

much appreciated,

Chad
choose a job you love and you will never have to work a day in your life
  • #3,405
  • Mar 8, 2013 10:23am Mar 8, 2013 10:23am
Hey all, how do you trail stops on Aggressive C's? Is it the old .382 to BE? I usually wait for .618 on Agg C's to trail but just wanted to see what others do.
  • #3,406
  • Mar 8, 2013 12:30pm Mar 8, 2013 12:30pm
Nice AB=CD on the USDJPY. I didn't catch it because I was away doing my day job. Hope some of you guys and gals caught it. It appears to have reacted to PRZ.. Let's see it plays out. It might get rejected at the daily R2. Even if it does, it's still good for about 40 pips, minus spread.
Attached Image(s) (click to enlarge)
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  • #3,407
  • Mar 8, 2013 1:17pm Mar 8, 2013 1:17pm
I use an EA that handles my open trades. If I take an aggressive C, i'll put the T/P as the 127 extension of AB. I usually trade on the 15 mins so I have my EA put my stop to BE after it moves in my direction 10 pips. At that point i'm BE+2. Then it trails and locks in profit at 25%, 50%, 75% and then again at 85% of my T/P.


Quoting jaksasquatch
Hey all, how do you trail stops on Aggressive C's? Is it the old .382 to BE? I usually wait for .618 on Agg C's to trail but just wanted to see what others do.
  • #3,408
  • Mar 8, 2013 2:21pm Mar 8, 2013 2:21pm
[quote=lucariga;6500366]And this is the fourth...
Here I've had strong confluence of Price Action (double top) + Big market structure + Round Number + Fibonacci Ratios + Aggressive C with the trend in my favour.

If you advice to pick just the BEST setups, I can't immagine a trade better then this. Anyway LOST.
I have no more words to say... I'm feeling a little bit defeated.


It always amazes me how the big Boys manage to wipe almost everyone...regardless...at any point in time, the market can go up, or down
Chances are 50/50 right?
People are Long and Short, STILL, almost everybody looses...the House takes it all, again....
We all get the Forex blues bro...wish you the best...life is good...
  • #3,409
  • Mar 8, 2013 5:26pm Mar 8, 2013 5:26pm
Quoting lucariga
And this is the fourth...
Here I've had strong confluence of Price Action (double top) + Big market structure + Round Number + Fibonacci Ratios + Aggressive C with the trend in my favour.

If you advice to pick just the BEST setups, I can't immagine a trade better then this. Anyway LOST.
I have no more words to say... I'm feeling a little bit defeated.

GBPJPY 1H

Attachment
Hi Luc,
I have been following this thread almost since it's inception and have not responded previously. I encourage you to go back to the Dec 23 trade Mr. Pip demonstrated this principle to us. When I look at his chart and yours, I don't see any comparison. His XA low is not crossed by B. I am assuming your X low is close to the end of the green rectangle. In my understanding, the AB should have retraced to the end of B at 61.8 to 78.6 of XA for this to be a valid trade, then retrace on BC to 61.8 to 78.6 of AB. I hope Mr. Pip is able to clarify this. Thank you Mr. Pip for sharing this method and your time.

  • #3,410
  • Mar 8, 2013 6:04pm Mar 8, 2013 6:04pm
Quoting 4xplosion
This indicator will draw the patterns for you! Remember to do you OWN analysis and entries/exits and not the indicator recommendations....Enjoy!!
Not to be the Sheriff, but this is a no-go. I think Mr. Pip will agree, but being able to manually draw, recognize, and evaluate patterns manually is part of the learning process. There are no short-cuts, EA's that make this easy. If it was easy, everyone would be doing it. Those that stick to his process, his rules, and put in the effort will be rewarded.

My humble Friday opinion...
  • #3,411
  • Mar 8, 2013 6:05pm Mar 8, 2013 6:05pm
Quoting BroncoCap
Not to be the Sheriff, but this is a no-go. I think Mr. Pip will agree, but being able to manually draw, recognize, and evaluate patterns manually is part of the learning process. There are no short-cuts, EA's that make this easy. If it was easy, everyone would be doing it. Those that stick to his process, his rules, and put in the effort will be rewarded.

My humble Friday opinion...
NP....just trying to help!! post deleted
  • #3,412
  • Edited 8:07pm Mar 8, 2013 6:24pm | Edited 8:07pm
Hello Traders,

Anyone of us can look at a chart and see what we want to see and make trading decisions based on what we think we see. This is the illusion that most traders see and the reason most traders never progress, they trade and stay in the shadows of the market.

I have recently seen all kinds of posts, from frustration, to irrational and from irrational to illogical. Almost all of those show signs of trading the shadows and a perception of what the trader was thinking and not what the market was actually telling. I have also seen some fantastic good sound advice and mentorship.

These patterns are all very profitable and you may think swing identification is difficult or even subjective as some traders have mentioned in some posts. I assure you that there is nothing subjective in my approach or decision making process. But I trade beyond the shadows or illusions that clouds most. I have mention repeatedly that price action is king. That you must understand structure and price action.

I ask all members of this thread how could you expected to trade at consistent levels if you have no idea where the market is moving to or if you can't identify where the market is changing direction. This is the secret to trading.

I have said that not all patterns are tradable that you must qualify your trade setup (pattern or whatever). Build that case for entry listen to the market. Some of you are taking every pattern you see and even forcing patterns where there is none.

When I gave you rules to follow they were guidelines for you to use as I use them, then, if your rules are met see if price action and structure agree. That's your blessing to proceed.

Find that facts read your charts and stop thinking. Make decisions based on what you see. The market can be forecasted and you can stay ahead of price but you will not achieve this until you step out of the shadows.
If you fail to plan, you plan to fail.
  • #3,413
  • Mar 9, 2013 9:13am Mar 9, 2013 9:13am
Quoting topedge
Hi Luc,
I have been following this thread almost since it's inception and have not responded previously. I encourage you to go back to the Dec 23 trade Mr. Pip demonstrated this principle to us. When I look at his chart and yours, I don't see any comparison. His XA low is not crossed by B. I am assuming your X low is close to the end of the green rectangle. In my understanding, the AB should have retraced to the end of B at 61.8 to 78.6 of XA for this to be a valid trade, then retrace on BC to 61.8 to 78.6 of AB. I hope Mr. Pip is able to clarify...
Hi,and thanks for your reply.
I can't understand why you are talking of the X point. My trades were all aggressive C on an ipotetichal ABCD pattern. I have no X at all.

Cheers
  • #3,414
  • Mar 9, 2013 9:42am Mar 9, 2013 9:42am
Thanks Mr. Pip for this response. I am attaching this link as it also speaks to this;

http://networkedblogs.com/J0co7

Mark Douglas, in his book Trading in the zone, attempts to provide you with the "state of beingness" that will lead to successful trading. I have listened to professional athletes who have attempted to describe this "state of being", without attachment. The fact is no amount of words, written or spoken can illuminate that experience of "beingness", or just being present without attachment. It requires a rigorous commitment, and a willingness to completely give up and let go of, all that you think you know, believe you know, feel you know.

The link has the full article.

Good trading

  • #3,415
  • Mar 9, 2013 9:51am Mar 9, 2013 9:51am
Quoting lucariga
Hi,and thanks for your reply.
I can't understand why you are talking of the X point. My trades were all aggressive C on an ipotetichal ABCD pattern. I have no X at all.

Cheers
Hi Luc,
Only trying to help! This chart is one of the early ones posted by Mr. Pip.

http://www.forexfactory.com/attachment.php?attachmentid=1107064

The associated threads are pretty clear on 'rules of engagement'
  • #3,416
  • Mar 9, 2013 10:25am Mar 9, 2013 10:25am
Quoting topedge
Thanks Mr. Pip for this response. I am attaching this link as it also speaks to this;

http://networkedblogs.com/J0co7

Mark Douglas, in his book Trading in the zone, attempts to provide you with the "state of beingness" that will lead to successful trading. I have listened to professional athletes who have attempted to describe this "state of being", without attachment. The fact is no amount of words, written or spoken can illuminate that experience of "beingness", or just being present without attachment. It requires a rigorous...
Amazing article. Thanks for posting this link. I'm glad you found this and will look into the book. I hope everyone reads this and can apply it to the market.
If you fail to plan, you plan to fail.
  • #3,417
  • Mar 9, 2013 10:48am Mar 9, 2013 10:48am
Quoting topedge
Thanks Mr. Pip for this response. I am attaching this link as it also speaks to this;

http://networkedblogs.com/J0co7

Mark Douglas, in his book Trading in the zone, attempts to provide you with the "state of beingness" that will lead to successful trading. I have listened to professional athletes who have attempted to describe this "state of being", without attachment. The fact is no amount of words, written or spoken can illuminate that experience of "beingness", or just being present without attachment. It requires a rigorous...

Thank you.

I would also add you are referring to the state of mushin which means literally mind, no mind and comes from the Samurai. It is referring to the zone of mastery and the best way to get there is via 10,000 repetitions.

So get started today on your 10,000 hours and 10,000 repetitions.
The world you desire can be won. It exists.. it is real.. it is possible..
  • #3,418
  • Edited 12:18pm Mar 9, 2013 11:54am | Edited 12:18pm
I have studied karate for a number of years and have not heard of this term, mushin. When you do a google on it you have some interesting links which I will follow up on.

Further to the link I posted a couple of threads ago, the writer refers to Dr. Andrew Menaker who teaches traders psychology of trading. This link is to a presentation which you might find helpful;

http://www.screencast.com/users/MarketDelta/folders/Webinars/media/d033bd77-c103-45ac-a5ef-8e2ffb611537

  • #3,419
  • Mar 11, 2013 4:42am Mar 11, 2013 4:42am
Dear All,

good day and i hope all goes well with your trading.

attached please find EU 5m chart. the 76% retracement was spot on. since order flow is on downside and we have LL and LH i am expecting further downside once 76% is tested again.

please be so kind to let me have your take on today?
Attached Image (click to enlarge)
Click to Enlarge Name: EU5min11March.jpg Size: 91 KB
choose a job you love and you will never have to work a day in your life
  • #3,420
  • Mar 11, 2013 6:10am Mar 11, 2013 6:10am
Quoting liemo
**SL taken to BE - for risk free trade**.....
one week later..finally got there...!!
Attached Image (click to enlarge)
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