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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

  • #5,881
  • Dec 12, 2013 10:58am Dec 12, 2013 10:58am
Quoting horuxito
{quote} Thank you for your words Mr. Pip. I really am thankful to you and this thread for all what we've been able to absorb. Harmonics really is "a different way to trade", specially since we are not interested in just having the pattern triangles but actually having an expectation by reading price and order flow. I'm currently in page 21 reading the thread again. It's almost the 1st aniversary and is a nice moment to catch up! Is great how a lot of the questions we have can be answered if we take the time to commit in the learning process and...

This is true! I'm glad it has helped you progress.
If you fail to plan, you plan to fail.
  • #5,882
  • Dec 12, 2013 11:54am Dec 12, 2013 11:54am
Only one trade for me today, on EURUSD.
It was a simple Aggressive C with confluence of other factors. Everything behaved as I expected for the entry:
Attached Image (click to enlarge)
Click to Enlarge Name: entry.png Size: 109 KB


I initially set the TP to 61.8% retracement of the larger AB=CD (it had gone just a little too deep to be ABCD), which tallied up with structure.
Attached Image (click to enlarge)
Click to Enlarge Name: expectation.png Size: 93 KB


This had to be revised to a 61.8% retracement of the smaller AB=CD:
Attached Image (click to enlarge)
Click to Enlarge Name: actual.png Size: 93 KB


My question is twofold:
1. Was it unreasonable to expect price to retrace to the initial TP point?
2. Was there anything in the Price Action around the period it ran out of steam that would have signified price was not going to make it any further?
Attached Image (click to enlarge)
Click to Enlarge Name: priceaction.png Size: 76 KB


Any thought or comments greatly appreciated.
  • #5,883
  • Dec 12, 2013 12:21pm Dec 12, 2013 12:21pm
Great video Mr Pip and FineForex!!

It is really good to see some live trades as they happen. It was funny as I was in the middle of a trade laid out below that I had zoomed in to manage the SL and when to exit.

So I entered with a short on an aggressive C on the 1H GBPUSD chart.

I expected a pull back at the second candle as it rose at a point of demand but due to momentum only expected a short pull back which happened as it hit the
38.2% before a sharp decline again. When it reached the current bottom and on the zoomed in 5M chart I started to manage it a little closer as saw weakness after it was stuck bouncing for an hour.

Eventually I pulled the trade, still with a 65 pip gain!! You see on the zoomed in 5M chart it hit the bottom a few times then made a new high on the short term, it was at this stage I decided to exit the trade. This was for 2 reasons, the fact it was stalled at that point and not making any lower lows, it had been stalled at this price for longer than the last stall, then when it hit the high I exited. It was also time for some dinner and the family is waiting for me so as I was not there to manage the trade I thought it best to exit.

Do people think I was right to exit when I did? Should I be managing this on the 5M chart after the pattern was seen on the 1H chart?

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD - Agro C Short - Final Exit.png Size: 14 KB

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD - Agro C Short - Exit Zoomed in to 5M.png Size: 13 KB


If it wasn't for a bit of a stupid trade this morning and a loss of 12 pips, this would have been my 5th successive winning trade

Thinking if I can continue this then I will open a live account and start to make some real money next week (this is probably the time that I will start to lose, lol!).

Anyway, thanks again Mr Pip for this thread, I feel I am really starting to pick this up quickly using my demo account. So far from only 14 trades, 8 winners, 5 losers and 1 BE. This said my first few trades were just thrown up to a certain extent to help me get more of a feel for live trading, and 5/6 of my last trades are all wins so going in the right direction.

For anyone struggling to grasp any of this I recommend to keep going through this thread, bookmark the important posts and then keep rereading when needed. In this last week I have read the summary from Kilian twice and watched each video a few times and it just sinks in there. I have about 4 A4 pages of notes from the thread and videos and I keep reviewing this and referring to Mr Pips Word documents showing All patterns and the one specific to the ABCD.

Brilliant stuff Mr Pip!!
  • #5,884
  • Dec 12, 2013 1:05pm Dec 12, 2013 1:05pm
Quoting Mr. Pip
Here is the video I promised you. I hope it helps you see how easy it is to stay ahead of price. It also shows you how there is no such thing as noise like all the experts say and how there is nothing random about price action. Keep it simple, learn order flow and price action. forget the patterns right now they will not make you a better trader. Post your questions or comments and stay ahead of price. Make decisions based on expectations this was all done on a time frame many experts say cannot be traded on. Remove emotions be decisive and engage....
Mr Pips: great really awesome.
thanks
Have something in Spanish? Once again thanks
  • #5,885
  • Dec 12, 2013 1:09pm Dec 12, 2013 1:09pm
Quoting itinerant
Only one trade for me today, on EURUSD. It was a simple Aggressive C with confluence of other factors. Everything behaved as I expected for the entry: {image} I initially set the TP to 61.8% retracement of the larger AB=CD (it had gone just a little too deep to be ABCD), which tallied up with structure. {image} This had to be revised to a 61.8% retracement of the smaller AB=CD: {image} My question is twofold: 1. Was it unreasonable to expect price to retrace to the initial TP point? 2. Was there anything in the Price Action around the period it...
Noting that I have little experience but here is my take on it.

1. I would always take the lower target just to be a little more conservative but that is just me, so not sure if it would be normal practice to go for the higher. Although this said I remember Mr Pip saying to look at whatever is relevant to current price, which to me would indicate going for the smaller, more recent ABCD for the TP measurement.
2. If I had gone for the higher and was managing the trade candle by candle then you see it approaching the level of supply with some momentum and failing to break it. It actually does this twice so I would take that as it is not strong enough to break through. I would have probably had a tight trailing SL to try to maximize gains if the market went against me.

Again I am inexperienced and only been trading this system for a week so maybe someon else, cough Mr Pip cough, would be better feedback.
  • #5,886
  • Dec 12, 2013 1:33pm Dec 12, 2013 1:33pm
Quoting Mr. Pip
Here is the video I promised you. I hope it helps you see how easy it is to stay ahead of price. It also shows you how there is no such thing as noise like all the experts say and how there is nothing random about price action. Keep it simple, learn order flow and price action. forget the patterns right now they will not make you a better trader. Post your questions or comments and stay ahead of price. Make decisions based on expectations this was all done on a time frame many experts say cannot be traded on. Remove emotions be decisive and engage....
Awesome video. Producing and uploading something that is 42 mins is not an easy task to do so really appreciated to you and Fineforex.

8 of 8 expectations of price, that's phenomenal, since you can be ready to not panic when price is making those tiny pullbacks while you are expecting the strength to continue until you hit your target, very nice explained.

The initial expectation was to have a 618-786 to Aggro C enter, but price instead made a three drive move to form a double top. I've seen this a lot and maybe I can ask you to explain how we can take advantage of projecting one trendline not only once (like an ab=cd) but twice for a three drive move.

Thanks again for the video. Will grab some popcorns later to watch it one more time
Best time to plant a tree was 20 years ago, second best is now
  • #5,887
  • Dec 12, 2013 2:06pm Dec 12, 2013 2:06pm
Quoting PipTrendz
{quote} Noting that I have little experience but here is my take on it. 1. I would always take the lower target just to be a little more conservative but that is just me, so not sure if it would be normal practice to go for the higher. Although this said I remember Mr Pip saying to look at whatever is relevant to current price, which to me would indicate going for the smaller, more recent ABCD for the TP measurement. 2. If I had gone for the higher and was managing the trade candle by candle then you see it approaching the level of supply with some...
Thanks for the comments PipTrendz - it's always great to see how other people interpret information. Please continue to do so!


The TP certainly was the more ambitious of the two. My reasoning was that both patterns completed together coupled with the general premise that the larger pattern normally dominates. I actually have a similar trade playing out now, and it'll be interesting to see how that turns out.

I'd like to know if there were any clues during that second retest that would point to it failing... before it headed too much back down south?
  • #5,888
  • Dec 12, 2013 2:06pm Dec 12, 2013 2:06pm
Quoting itinerant
Only one trade for me today, on EURUSD. It was a simple Aggressive C with confluence of other factors. Everything behaved as I expected for the entry: {image} I initially set the TP to 61.8% retracement of the larger AB=CD (it had gone just a little too deep to be ABCD), which tallied up with structure. {image} This had to be revised to a 61.8% retracement of the smaller AB=CD: {image} My question is twofold: 1. Was it unreasonable to expect price to retrace to the initial TP point? 2. Was there anything in the Price Action around the period it...
No not completely unreasonable just remember that the larger pattern was longer term order flow and that expectation was going to involve multiple swings since the TF you were on was small.

The price action was complying with your expectation until it failed to produce a NSH this should have been accounted for as you did have enough confluence for price to react to this zone.
If you fail to plan, you plan to fail.
  • #5,889
  • Dec 12, 2013 2:11pm Dec 12, 2013 2:11pm
Looking at GBP/JPY 1H chart for C aggressive following short term down trend
Attached Image (click to enlarge)
Click to Enlarge Name: GBP.png Size: 136 KB
I Have Learned to Take Some Losses to Make Profits
  • #5,890
  • Dec 12, 2013 2:12pm Dec 12, 2013 2:12pm
Quoting PipTrendz
Great video Mr Pip and FineForex!! It is really good to see some live trades as they happen. It was funny as I was in the middle of a trade laid out below that I had zoomed in to manage the SL and when to exit. So I entered with a short on an aggressive C on the 1H GBPUSD chart. I expected a pull back at the second candle as it rose at a point of demand but due to momentum only expected a short pull back which happened as it hit the 38.2% before a sharp decline again. When it reached the current bottom and on the zoomed in 5M chart I started to...
Thank you and bravo on your trade and management. Family time is important and you got out based on the facts at hand well done.
If you fail to plan, you plan to fail.
  • #5,891
  • Dec 12, 2013 2:13pm Dec 12, 2013 2:13pm
Quoting pampaq
{quote} Mr Pips: great really awesome. thanks Have something in Spanish? Once again thanks
I don't I'm sorry I have not made any in Spanish PM me and we can talk about it. It would be disruptive to do so here. Thanks
If you fail to plan, you plan to fail.
  • #5,892
  • Dec 12, 2013 2:17pm Dec 12, 2013 2:17pm
Here is a trade I took this morning folks. It just so happen to be the one Mr. Pip was filming at the same time. My entry was later because I didn't get to my PC until 8am. My bad late for work !
  • #5,893
  • Dec 12, 2013 2:18pm Dec 12, 2013 2:18pm
Quoting 76bronco
Here is a trade I took this morning folks. It just so happen to be the one Mr. Pip was filming at the same time. My entry was later because I didn't get to my PC until 8am. My bad late for work !

Chart never uploaded.
Attached Image (click to enlarge)
Click to Enlarge Name: $GBPUSD (233 Tick) 12_12_2013.jpg Size: 169 KB
  • #5,894
  • Dec 12, 2013 2:20pm Dec 12, 2013 2:20pm
Hello Mr Pip

Can I say what a great thread this is I have been following for a while now, very informative and you are a great teacher. I feel I have found a home for my trading education. I hope to be posting charts and participating in the very near future, your videos are an amazing source of information, and long may it continue. Once again thank you D.
  • #5,895
  • Dec 12, 2013 2:43pm Dec 12, 2013 2:43pm
Quoting 76bronco
{quote} Chart never uploaded. {image}
Great work!!
If you fail to plan, you plan to fail.
  • #5,896
  • Dec 12, 2013 2:44pm Dec 12, 2013 2:44pm
Quoting Aj1
Hello Mr Pip Can I say what a great thread this is I have been following for a while now, very informative and you are a great teacher. I feel I have found a home for my trading education. I hope to be posting charts and participating in the very near future, your videos are an amazing source of information, and long may it continue. Once again thank you D.
Anytime glad they help!
If you fail to plan, you plan to fail.
  • #5,897
  • Dec 12, 2013 2:50pm Dec 12, 2013 2:50pm
Quoting Mr. Pip
Here is the video I promised you. I hope it helps you see how easy it is to stay ahead of price. It also shows you how there is no such thing as noise like all the experts say and how there is nothing random about price action. Keep it simple, learn order flow and price action. forget the patterns right now they will not make you a better trader. Post your questions or comments and stay ahead of price. Make decisions based on expectations this was all done on a time frame many experts say cannot be traded on. Remove emotions be decisive and engage....

Great video Mr Pip and Finefx. Thanks for taking the time out of your busy schedule to record it. It just proves what you've been saying all along. Nice to see it all come together in a live video.

Traders! This is all you need to make it into the 5% that make it trading! No system can be better than reading PA and Mr Pip is giving it to us without anything expected in return. I think he would be rewarded by us putting in the time to learn this and becoming successful traders. The only missing link is YOU.

PS: I'm just jealous I don't live in Miami!
Barry
  • #5,898
  • Dec 12, 2013 3:22pm Dec 12, 2013 3:22pm
Quoting Bary
{quote} Great video Mr Pip and Finefx. Thanks for taking the time out of your busy schedule to record it. It just proves what you've been saying all along. Nice to see it all come together in a live video. Traders! This is all you need to make it into the 5% that make it trading! No system can be better than reading PA and Mr Pip is giving it to us without anything expected in return. I think he would be rewarded by us putting in the time to learn this and becoming successful traders. The only missing link is YOU. PS: I'm just jealous I don't live...
LOL, Thanks Barry it's quite warm today and enjoyed a nice lunch and a mojito with FineForex.
If you fail to plan, you plan to fail.
  • #5,899
  • Dec 12, 2013 3:24pm Dec 12, 2013 3:24pm
Quoting Mr. Pip
{quote} No not completely unreasonable just remember that the larger pattern was longer term order flow and that expectation was going to involve multiple swings since the TF you were on was small. The price action was complying with your expectation until it failed to produce a NSH this should have been accounted for as you did have enough confluence for price to react to this zone.
Thanks Mr. Pip. Some good points to digest.
  • #5,900
  • Dec 12, 2013 3:30pm Dec 12, 2013 3:30pm
Quoting itinerant
{quote} Thanks Mr. Pip. Some good points to digest.

Sure if you want me to show you with a chart example let me know.
If you fail to plan, you plan to fail.
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