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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

  • #4,021
  • May 6, 2013 9:34pm May 6, 2013 9:34pm
Hey traders, chart should be self explanatory. For those that desire to, I suggest you pull it up on your own charts and do the analysis too. See if you can visualize the patterns taking place then get the fib tool out and try to piece it together. At any rate currently I have a short for different reasons but these areas marked in orange will have my attention if and when price get to them. Enjoy, make a fantastic day, have fun, do your due diligence and may we all make BANK!!
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Don't follow me! You can and most likely will LOSE all your money!!!!
  • #4,022
  • May 6, 2013 11:33pm May 6, 2013 11:33pm
Quoting CNTrader
{quote} Hey traders GM. Here is the update with updated chart: All three targets attained. Will be continuing to roll stops to see how much that purty little butterfly wants to give me. She is so puurrrrrty. lol Weak news in China, weak news in Australia with a high likelihood of rate cut, along with a potentially second sell off in gold imminent and this purty little lady should be fun to ride. Looking for some increase in selling with a break below 1.0220 ish area {image}
This is why I kept some on the trade. No risk all reward!! yeeaaah boooiiii!!!!
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Don't follow me! You can and most likely will LOSE all your money!!!!
  • #4,023
  • May 7, 2013 1:01am May 7, 2013 1:01am
Quoting CNTrader
{quote} This is why I kept some on the trade. No risk all reward!! yeeaaah boooiiii!!!! {image}
OK traders here is a little daily chart that I've marked with some potential opportunities that can present going forward. Listen I have gotten a lot of request through PM to help people and requesting training and advice. I definitely do appreciate the compliment. This is not my forum or my thread to do that. I'm just sharing the opportunities I like and see. This type of Harmonic analysis you see on the chart is just a small piece of what I do to be prepared. You will notice I don't care which direction the market goes in I'm ready either way? I'm constantly visualizing where price can go and identifying areas where there will be opportunities to make Bank! That's all that matters whenits all said and done whether its a scalp, a swing, or a position trade that runs for 4 big figures or more.

Can you visualize the PA or even the Patterns long before they complete. This takes understanding of the different patterns and the ratios that make them such. A simple google or review of Scott Carney's website and from what I have heard a simple review of Mr Pip's information he provides will give you the details on the patterns. Then practice drawing them and finding them. Go back in history and identify them and the price behavior when they appear, whether they succeed or you perceive them to fail, either way their is something to be learned. Once you have found them 500 times or more they will implant in your brain and you will be able to visualize them before they happen. For those that really want to learn how to trade the currency market using Harmonics in my opinion this is the minimum of what you must do. Just a beginning so to speak.

Its a wonderful business but its still a business and you must treat it that way. If your not willing to do the basics then just write a check out to your favorite charity in the amount you were gonna fund your account with x 5 because the big boi's have figured out already that you will fund your account at least 5 times before crying uncle and quitting lol. Then go get a J-O-B or a second and third one.

I hope nobody's feelings are hurt not my intention to be mean its just that i keep getting the request so I'm putting this out as a general statement to save your time and most importantly my time for all those who have asked or is getting ready to ask lol. Maybe someday I will open a thread of my own in the future for that purpose but for now I'm just sharing, trading, and having fun. Thanks again for everyone that has shown their appreciation for my efforts and contributions I look forward to continue to do so.

Ok I'm off to get some shut eye. Enjoy, have fun, do your due diligence, and may we all make Bank!!
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Don't follow me! You can and most likely will LOSE all your money!!!!
  • #4,024
  • May 7, 2013 1:59am May 7, 2013 1:59am
Quoting CNTrader
Hey traders, chart should be self explanatory. For those that desire to, I suggest you pull it up on your own charts and do the analysis too. See if you can visualize the patterns taking place then get the fib tool out and try to piece it together. At any rate currently I have a short for different reasons but these areas marked in orange will have my attention if and when price get to them. Enjoy, make a fantastic day, have fun, do your due diligence and may we all make BANK!! {image}
hi CNtrader. thanking you for sharing. i was wondering if you could be so kind to talk us through how you would make the trade. i am stuck in that i can identify the 3 trades as you have highlighted. how would you manage (pull the trigger) your entry points in this scenario as their are 3 different potentials.
choose a job you love and you will never have to work a day in your life
  • #4,025
  • May 7, 2013 9:57am May 7, 2013 9:57am
No trades yesterday, 1 trade today. Missed some trades, but im working on that! Im way better at reading a chart then trading live. The third trade at the top I was just distracted with something else and didnt see the entry bar, would've taken that.


Experimenting with trend lines made into a grid, as you can see, in order to help me detect the break down of order flow and other cool things. The grid was made from the 4 dotted white lines.

Since lines highlight the relationship between highs and lows and that is what order flow is about, this makes sense. In addition, it helps with seeing changes in momentum.

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  • #4,026
  • May 7, 2013 10:24am May 7, 2013 10:24am
Quoting Starry
No trades yesterday, 1 trade today. Missed some trades, but im working on that! Im way better at reading a chart then trading live. The third trade at the top I was just distracted with something else and didnt see the entry bar, would've taken that. Experimenting with trend lines made into a grid, as you can see, in order to help me detect the break down of order flow and other cool things. The grid was made from the 4 dotted white lines. Since lines highlight the relationship between highs and lows and that is what order flow is about, this makes...
I hear that bro! I can read price like a freak but when it comes to trade time I seem to have trouble sorting out whats relevant until it is too late. I saw the same 3 you did (and the first one was a starry special) so at least we're on the same page . We'll get there soon. Keep on truckin!
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Finally out of the shadows.
  • #4,027
  • May 7, 2013 10:25am May 7, 2013 10:25am
Quoting Starry
No trades yesterday, 1 trade today. Missed some trades, but im working on that! Im way better at reading a chart then trading live. The t {image}
Thats my problem too, I am far better a good analyst than a trader.
  • #4,028
  • May 7, 2013 11:44am May 7, 2013 11:44am
Well all get there lol! I missed the second one because i was looking at something else the third one i was just timid of trading those long swings down, though the place where i would have traded was actually the bottom, lol. but thats just one trade, who knows ...
  • #4,029
  • May 7, 2013 11:47am May 7, 2013 11:47am
Quoting gaf
{quote} I hear that bro! I can read price like a freak but when it comes to trade time I seem to have trouble sorting out whats relevant until it is too late. I saw the same 3 you did (and the first one was a starry special) so at least we're on the same page . We'll get there soon. Keep on truckin! {image}
What data feed do you use, btw? charts look different. I use mbtrading demo ...
  • #4,030
  • May 7, 2013 11:50am May 7, 2013 11:50am
Quoting gaf
{quote} I hear that bro! I can read price like a freak but when it comes to trade time I seem to have trouble sorting out whats relevant until it is too late. I saw the same 3 you did (and the first one was a starry special) so at least we're on the same page . We'll get there soon. Keep on truckin! {image}
hey at least were agreeing on which ones should be traded! im getting there and i see you are too!
  • #4,031
  • May 7, 2013 12:05pm May 7, 2013 12:05pm
Quoting Starry
{quote} What data feed do you use, btw? charts look different. I use mbtrading demo ...
I'm using the mb trading demo too. I think it depends on the how the ticks are counted. That's why I save my images as if you reload the data you get different PA. I think the main point is that you have expectations at certain points in the chart so if you get a signal near where you are interested you should take the trade if it conforms to your rules. Pins are great but sometimes a series of dojis or other PA will do. We are looking for weakness and it comes in many forms. Its up to us to learn those forms and then place them in context. Glad you made a trade! Cheers.
Finally out of the shadows.
  • #4,032
  • May 7, 2013 1:49pm May 7, 2013 1:49pm
Quoting alex4xes
{quote} Thats my problem too, I am far better a good analyst than a trader.
That sounds like an emotional issue that is detrimental to your trading success. My recommendation to both of you is to practice practice practice pulling the trigger on your trade set up based on your analysis. If that means demo then so be it. You have to get rid of the emotion and become a cold blooded assassin by learning and practicing the execution aspect of your trade plan by keeping a good trade journal as to what you saw happening and why you took the trade then the price behavior afterwards and so on and so forth. Understand losses are a part of the game and stop being afraid of them. Ok thats all I wont get into too much but it sounds like a common problem that if you dont get over you will never progress and move forward regardless of how much analysis you do. You need to practice the execution and you need to practice banking the pips too. Hope that helps. Enjoy, make a great day, have fun, do your due diligence and may we all make bank!!
Don't follow me! You can and most likely will LOSE all your money!!!!
  • #4,033
  • May 7, 2013 1:58pm May 7, 2013 1:58pm
Quoting CNTrader
{quote} That sounds like an emotional issue that is detrimental to your trading success. My recommendation to both of you is to practice practice practice pulling the trigger on your trade set up based on your analysis. If that means demo then so be it. You have to get rid of the emotion and become a cold blooded assassin by learning and practicing the execution aspect of your trade plan by keeping a good trade journal as to what you saw happening and why you took the trade then the price behavior afterwards and so on and so forth. Understand losses...
Sorry I'll add just one more thing and then get off the soap box lol. You also need to understand that the analysis part of it is only a piece of the puzzle. You need to have a plan of exit whether it goes in your favor or not. Its one thing to draw the patterns and say yippie i found a reversal zone but its another to take that info and develop a plan on what you can reasonably expect to bank. Where should price go to if you are right. do you use fibs to decide? support resistance or structure? How do you know your wrong and do you have the guts to admit it and get out or do you get emotional and hold on? Not having just some of these basics will paralyze you and prevent you from executing and then when it goes your way. Ok im really done now lol. Again hope this helps. Enjoy, make a great day, have fun, do your due diligence and may we all make bank!!
Don't follow me! You can and most likely will LOSE all your money!!!!
  • #4,034
  • May 7, 2013 2:02pm May 7, 2013 2:02pm
Hi Mr. Pip,

I'm reading the thread from the beginning and I've a question about your post #96. You explain that B point must not close above 50% level and C must not close below 78.6%. Did I understand correctly?
  • #4,035
  • May 7, 2013 2:07pm May 7, 2013 2:07pm
Quoting CNTrader
{quote} Sorry I'll add just one more thing and then get off the soap box lol. You also need to understand that the analysis part of it is only a piece of the puzzle. You need to have a plan of exit whether it goes in your favor or not. Its one thing to draw the patterns and say yippie i found a reversal zone but its another to take that info and develop a plan on what you can reasonably expect to bank. Where should price go to if you are right. do you use fibs to decide? support resistance or structure? How do you know your wrong and do you have...
CNTrader - thanks for your comments, much appreciated. I am far better good analyst than a trader but still making some money. I only wanted to say that if I have to grade myself then analyst part of me will score 9/10 & trader part of me will score 5/10. Why I feel thats a problem even if I am making money, is because I have seen many traders like yourself who scores 9/10 in both criteria. And I want to be same like those PROs who are No.1 in everything they do. But anyway, I appreciate your willingness to help others & guide them. I am working on to score 9/10 in trader part of me, so sure we all will make a bank.
  • #4,036
  • May 8, 2013 3:38am May 8, 2013 3:38am
Hello Traders,

I am following the thread and am very grateful to everybody for your efforts and contributions.

I am still a "nobody at all" in using Harmonics, but I have to agree that if I can properly open my eyes...well, damn, it is really to find EVERYWHERE out there !
And perhaps even more important than Harmonics...I can start to understand that Price Action has its own clear voice.
I guess that to may hear that voice is the key to the "Holy we all know what".

So, with my greatest Thanks to MASTER (not only Mister) PIP , I would like to sometime bring my point of view to the group, hoping to may learn myself and to may be of help to somebody.

Here is my todays chart, just stopped for today.
I deleted the Fibos (except for the last used one), already having perhaps too many lines and texts on it, so to avoid even more confusion.

I am still one of the happy "just demo traders" for this new concept for me, but my goal is to become the " cool blooded assassin " as in my opinion perfectly described by CN Trader.

Thanks to all for any comment if wished.
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  • #4,037
  • May 8, 2013 4:46am May 8, 2013 4:46am
I just couldn't stop yet.

It just seems too "easy".... probably just a lucky day...

(or not ? )
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  • #4,038
  • May 8, 2013 5:03am May 8, 2013 5:03am
I now really disappear for sometime...was intrusive enough today.

Come on, I just can't believe it myself.... am I suddendly a market maker ???

Anyway really interesting how all together sometimes really seem to have a sense and no randomness...
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  • #4,039
  • May 8, 2013 8:15am May 8, 2013 8:15am
Hey traders!
Only an hour for me today. Arrived in the middle of the agro C setup. I just entered as it was a setup and then I figured that I had maybe been premature. Lots of bull strength and after a quick doodle on the chart with fibs I went to BE @ the rejection of the 38% and strong bull bar.

Went to have a shower and noticed a "Starry Special" had triggered, noted it on the chart for R&D. Hope you all have a great day and make Bank! Cheers.
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Finally out of the shadows.
  • #4,040
  • May 8, 2013 9:17am May 8, 2013 9:17am
Quoting dvarrin
Hi Mr. Pip, I'm reading the thread from the beginning and I've a question about your post #96. You explain that B point must not close above 50% level and C must not close below 78.6%. Did I understand correctly?
Hello,

Yes that would be correct for a Bat Pattern.
If you fail to plan, you plan to fail.
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