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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

  • #5,641
  • Dec 6, 2013 7:26am Dec 6, 2013 7:26am
Quoting itinerant
Higher TF short on EURUSD coming up? Completed ABCD giving a nice retracement of the major swing. {image}
Yeah itinerant, I spotted that in my thread here (http://www.forexfactory.com/showthread.php?p=7140192#post7140192), that said be careful as I am completely new to this
  • #5,642
  • Dec 6, 2013 7:46am Dec 6, 2013 7:46am
Worst joke ever !!
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-milkeyway
  • #5,643
  • Dec 6, 2013 7:48am Dec 6, 2013 7:48am
Ok so sucked in here against orderflow. I really thought it was waning but I guess I let myself get fooled. Managed this aggressively and got out with -3 including spread. Had a close above my entry and didn't really see any commitment from the bears after that bearish bar down. Feel rather foolish as usually I wait for a NSL oh well looks like I'm done for the week. Hope you all have a great weekend. Cheers.
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Finally out of the shadows.
  • #5,644
  • Dec 6, 2013 8:47am Dec 6, 2013 8:47am
Quoting gaf
Long
hey man didn't post any live charts today. was moving so fast was just flowin with it

I made a trade plan with only using C's and D's as entries. gonna master these before moving on.

posted my trades in my journal feel free to comment compare question whatever.

have a good weekend all
  • #5,645
  • Dec 6, 2013 10:31am Dec 6, 2013 10:31am
Quoting PipTrendz
{quote} Yeah itinerant, I spotted that in my thread here (http://www.forexfactory.com/showthread.php?p=7140192#post7140192), that said be careful as I am completely new to this
I'm sorry, I must have missed your post when I was skimming through to catch up.

Usually, I don't trade longer-term positions because the pace is too glacial - I hate leaving positions open over the weekend let alone any longer.

But in the brief time I've been using harmonics I have noticed that the higher the TF, the more reliable the pattern tends to be. So I've taken a punt on this one, as an experiment
  • #5,646
  • Dec 6, 2013 10:43am Dec 6, 2013 10:43am
Quoting itinerant
{quote} I'm sorry, I must have missed your post when I was skimming through to catch up. Usually, I don't trade longer-term positions because the pace is too glacial - I hate leaving positions open over the weekend let alone any longer. But in the brief time I've been using harmonics I have noticed that the higher the TF, the more reliable the pattern tends to be. So I've taken a punt on this one, as an experiment
I have just gone with this one too. This is only on my demo account for now, as I would need to have lots of money in a real account to let this run. This is for 2 reasons,

1) would need to cover a SL of about 150 pips
2) I am too impatient to let this one run out. If it goes all the way it will be a great win (around 500 pips by my reckoning), but how long will it take to get there, could be a month!

Lets see how it goes, goo luck!
  • #5,647
  • Dec 6, 2013 11:06am Dec 6, 2013 11:06am
Okay so I have another one that looking at it would have been a good trade (i think).

We have a good bullish bat pattern playing out, strengthened by an ABCD completion and the bottom zone of R. One question on this, where would you be inclined to place the take profit point? The top of the 3 S/R areas I have done, or would you go more (probably about a 15 pip gain there)? I see there is another ABCD on the current leg so would you count this?

This is the GBPUSD 5M TF.

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  • #5,648
  • Edited 3:06pm Dec 6, 2013 12:25pm | Edited 3:06pm
Quoting PipTrendz
Okay so I have another one that looking at it would have been a good trade (i think). We have a good bullish bat pattern playing out, strengthened by an ABCD completion and the bottom zone of R. One question on this, where would you be inclined to place the take profit point? The top of the 3 S/R areas I have done, or would you go more (probably about a 15 pip gain there)? I see there is another ABCD on the current leg so would you count this? This is the GBPUSD 5M TF. {image}
I took this trade.

Given that it is fast approaching the weekend, I TP'd at 38.2% (I manually closed it after it almost touched by a whisker, although a few bars later it made the extra 0.9 so I guess I could have waited).

For me, not leaving a trade open over the weekend was good enough reason by itself.
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  • #5,649
  • Dec 6, 2013 12:27pm Dec 6, 2013 12:27pm
Quoting PipTrendz
{quote} I have just gone with this one too. This is only on my demo account for now, as I would need to have lots of money in a real account to let this run. This is for 2 reasons, 1) would need to cover a SL of about 150 pips 2) I am too impatient to let this one run out. If it goes all the way it will be a great win (around 500 pips by my reckoning), but how long will it take to get there, could be a month! Lets see how it goes, goo luck!
Good luck too!
  • #5,650
  • Dec 6, 2013 4:01pm Dec 6, 2013 4:01pm
Quoting gaf
{quote} I wasn't sure if you want me cluttering up the thread with realtime posts but It keeps me accountable and also exposes my emotional weaknesses. Not something that I thought I'd still have so much trouble with. Thank you for your time and patience. Some progress faster than others in this department and it seems that I am one of the slower ones . Those videos have helped me a tonne though as now I know what is holding me back. Thanks in advance for the range vids. Have a great weekend. Cheers.
It's no clutter if it helps its fine. You have to believe in your skill set. Have confidence and develop a set of rules this will separate emotion from trading. Be decisive, take action and manage your trade. have a clear and realistic expectation with longer term order flow and don't let the short term order flow bully you around. Use it as a confirmation tool for longer term expectation.
If you fail to plan, you plan to fail.
  • #5,651
  • Dec 6, 2013 4:06pm Dec 6, 2013 4:06pm
Quoting interputure
{quote} I trade 1H TF. How can you manage to trade something lower than that? the spread is kind of killing of all the profits when you trade on 5M and lower ( sometimes even of the 15M ). --- Over the night the price went very slow ( tokyo session ) but still in profit. {image} i will see price action today to estimate if i should hold the trade or not. any way , i will close the trade before the markets close.
My spread is not a factor at all. It's about preference and expectation not time frame. The larger the time frame the more room you need to give it. It all evens out. If your spread is an issue see if another broker offers better spread or negotiate with your current broker.
If you fail to plan, you plan to fail.
  • #5,652
  • Dec 6, 2013 6:05pm Dec 6, 2013 6:05pm
Hey Traders,

I want to address a couple of things. Never let anyone tear you down. Negativity has no place in your trading. Emotions have to be controlled. Remember the failure rate in this business, chances are you are hearing that from one of those people.

You have to have posture you have to follow a plan. If you do not have one then get one quick this is a business and you have to treat it as such. Do not take advice from those less successful then you. Why do the rich stay rich and the poor, poor? Who are you listening to? What are you putting into your mind? Garbage in garbage out.

There is not a trader on this planet I will not go toe to toe with the FACT that there is no such thing as noise and that the financial markets are not random. That is ignorance and lack of technical comprehension. I have come from where you all are standing and my road has been long and at times painful but I never gave up. I knew the failure rate in this before I began my journey and that only made me want it more. I'm the kind of person that if you tell me it can't be done I will tell you watch me. That's what it takes to be in the top 10%! Tireless effort, unwavering commitment and the perseverance to keep getting up no matter many times you fall. That's what it takes!! A hunger like no other, a relentless pursuit of your dreams and goals that nothing will stand in your way, that you will accept no excuses and that failure is simple not an option.

If you are that dedicated and that committed this will happen for you as it has for me. Never let anyone tell you what you are worth. I promise you the rewards are worth the sacrifices you will have to make!

I have come here to show you the truth of what the market is and how to cut through all the BS something that no one has done for me. I am here to cut your learning curve to a fraction of the time it took me to figure this out with no benefit to me other then to see you succeed.

Let's have some posture, be accountable for your actions and commit to whatever it takes to make this happen for you and your families or whatever is important for you.

Let's leave our emotions at the door the market doesn't care about how you feel or what kind of day you are having. Put on your armor and step on to the battlefield. Be decisive, protect your soldiers (your capital) and take no prisoners. Knowledge is power, Arm yourselves with the facts to make objective decisions and own the battlefield by crushing the enemy (the person on the other side of your trade).

This is my posture and I'm sure my piers in the top 10% have a similar posture. That's how I roll that's what you are trading against when you step on to my battlefield. Are you ready?

GET READY!!!! I TAKE NO PRISONERS AND NEITHER SHOULD YOU!
If you fail to plan, you plan to fail.
  • #5,653
  • Dec 6, 2013 7:13pm Dec 6, 2013 7:13pm
Mr. Pip,

I have been around a while, and life has not always been easy...that's just life. My first introduction to trading in 1996 was with a commodities trader by the name of Ken Roberts, who taught a 1-2-3 method, and I would listen to a recommended trade each night from his trade services, and place a trade the following morning with my broker...extremely antiquated based on today's technology. The point is: I have studied futures trading, options trading, E-Mini trading, stock trading, and for the last two years currency trading. The reason I have done this over the years is the simple fact that trading has always mystified me, and my hopes were, that after I retired, I would be in a position to keep my mind busy and produce additional needed income. My background has been primarily in public education...teaching math, science, and chemistry. Retirement is coming soon, and it is clear to me that I have been led to your thread. What you teach is very satisfying...price action (structure), order flow, fibs, and harmonics establishes trading opportunities that eliminates subjectivity. I have said all of the above to make this point...Damian, I sincerely believe that you are a young man of integrity, intelligence, patience, and have been blessed with the innate ability to teach. Some have it, and most don't. I would encourage you to write a trading manual, based on exactly what you share with your students on this thread, and then market the finished product. Choose goals like this when your young, and leave a legacy in writing for all in the future to learn...price action in markets will out live all of us. Cool to think that your own children could read what Dad had written in the 21st century. Don't procrastinate, just do it.

A simple guy with a few words of wisdom.
Gary
  • #5,654
  • Dec 6, 2013 7:27pm Dec 6, 2013 7:27pm
Quoting Mr. Pip
Hey Traders, I want to address a couple of things. Never let anyone tear you down. Negativity has no place in your trading. Emotions have to be controlled. Remember the failure rate in this business, chances are you are hearing that from one of those people. You have to have posture you have to follow a plan. If you do not have one then get one quick this is a business and you have to treat it as such. Do not take advice from those less successful then you. Why do the rich stay rich and the poor, poor? Who are you listening to? What are you putting...
Wow!

Pursuit of happiness is one movie I think we all can relate to a certain level. This scene shows what Mr. Pip just said to us:

http://www.youtube.com/watch?v=DcOR3WJL1TA
Best time to plant a tree was 20 years ago, second best is now
  • #5,655
  • Dec 6, 2013 9:05pm Dec 6, 2013 9:05pm
Quoting kumaramy
Worst joke ever !! {image}

Your lack of skill and experience. one of my previous posts, I talked about the command and put stoploss point, it applies to the facts. one for example posts others of me.
http://www.forexfactory.com/showthread.php?p=7102834#post7102834
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Trading in the zone
  • #5,656
  • Dec 6, 2013 9:26pm Dec 6, 2013 9:26pm
Quoting hao
{quote} Your lack of skill and experience. one of my previous posts, I talked about the command and put stoploss point, it applies to the facts. one for example posts others of me. http://www.forexfactory.com/showthread.php?p=7102834#post7102834 {image}
Do you mean my sl should be more wide ?
-milkeyway
  • #5,657
  • Dec 6, 2013 9:33pm Dec 6, 2013 9:33pm
Quoting kumaramy
{quote} Do you mean my sl should be more wide ?
not meaning here is: enter locations and limit orders. You see the first place reversal of a trend. you enter the command delay should you need a wide stop loss.
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Trading in the zone
  • #5,658
  • Dec 6, 2013 9:34pm Dec 6, 2013 9:34pm
AUD USD 4HR Price action testing.

Hello Mr. Pip. This is my guess about the price action.
1] Battle of candle C won bulls
2] Battle of candle B won bulls & price could not reach 50 % of the previous candle So it is bullish sign.
3] So right now closing price of candle A is above the 50 % of candle B so market is still bullish.
4] Trend line also broke.
All of above observations indicates me that AUDUSD may go higher than the current price.
Let me know what i am doing wrong with price action.
Thanks.
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-milkeyway
  • #5,659
  • Dec 6, 2013 9:35pm Dec 6, 2013 9:35pm
Quoting hao
{quote} not meaning here is: enter locations and limit orders. You see the first place reversal of a trend. you enter the command delay should you need a wide stop loss. {image}
But i did put my sl below HL.
-milkeyway
  • #5,660
  • Dec 6, 2013 9:37pm Dec 6, 2013 9:37pm
Quoting kumaramy
{quote} But i did put my sl below HL.
structure HH / HL / LH / LL meaning expectations, it is not limited to reversal.
Trading in the zone
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