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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

  • #6,241
  • Dec 17, 2013 5:27pm Dec 17, 2013 5:27pm
Quoting horuxito
{quote} You are all invited Horuxito's Journal (http://www.forexfactory.com/showthread.php?t=463034)
awesome man, after each week its cool to go back in see your trades and learn what you can
  • #6,242
  • Dec 17, 2013 7:10pm Dec 17, 2013 7:10pm
Quoting horuxito
{quote} You are all invited Horuxito's Journal (http://www.forexfactory.com/showthread.php?t=463034)
Hey thanks, this is inspiring really...even I could pull my lazy back part together and have some traceability of what I am doing when and why.
Thanks, it is really great!
Do you know if there is an option to pull everything into categories? Like entry technique/method or by time frames... etc. ?
I mean like sub-topics?
Tnx for the invitation, I got it bookmarked now
  • #6,243
  • Dec 17, 2013 7:33pm Dec 17, 2013 7:33pm
Hey thanks all! @FineForex and @Itinerant

Quoting lobogabor
{quote} Hey thanks, this is inspiring really...even I could pull my lazy back part together and have some traceability of what I am doing when and why. Thanks, it is really great! Do you know if there is an option to pull everything into categories? Like entry technique/method or by time frames... etc. ? I mean like sub-topics? Tnx for the invitation, I got it bookmarked now
You are welcome!

Look I don't know about categories, I'm afraid you can't. What you can do is to edit the first post of your thread. So whenever you have something new to say you can put it there or add links to hot posts.

I think is great to have a journal. In my case I'm still learning and hopefully will develop some discipline, which is the most important thing in this business.

I want to maintain Mr. Pip's principles. If he reads this posts I want to thank him again for the great support he provides to us all. He does this in the best of spirits and we have to be very appreciated for it. So thanks again Mr. Pip!
Best time to plant a tree was 20 years ago, second best is now
  • #6,244
  • Dec 18, 2013 12:52am Dec 18, 2013 12:52am
I have a question, about SL. I placed SL above 160% ABCD, and spread hit my SL, and after that price went to my target.
Mr. Pip recommended to place stop 10 pips above 160%, but I understand that is for H1 chart, I am using 5 pips for M15.

My question is, does it including spread or 10 pips + spread ?

Thank you !
Best regards !
Even though I walk through the darkest valley, I will fear no evil
  • #6,245
  • Dec 18, 2013 1:28am Dec 18, 2013 1:28am
Quoting monocor
I have a question, about SL. I placed SL above 160% ABCD, and spread hit my SL, and after that price went to my target. Mr. Pip recommended to place stop 10 pips above 160%, but I understand that is for H1 chart, I am using 5 pips for M15. My question is, does it including spread or 10 pips + spread ? Thank you ! Best regards !

sometimes price will over extend thru the 160 for ex and hit your stop, theres no exacts, remember you can always re-enter if price just pokes through the 160 hits your stop and reverses, thats why mr pip is putting such an emphasis on price action and order flow
Never said I was Batman,all I'm saying is you'll never see us together.
  • #6,246
  • Dec 18, 2013 1:44am Dec 18, 2013 1:44am
Quoting headfake
{quote} sometimes price will over extend thru the 160 for ex and hit your stop, theres no exacts, remember you can always re-enter if price just pokes through the 160 hits your stop and reverses, thats why mr pip is putting such an emphasis on price action and order flow
Yes, that's true.

I will also add that everything is relative. In the first 40 pages of this thread the H1 chart was the star and the 10 pips was in relation to those charts.

When trading hourly charts you generally are going for targets close to the Average Daily Range. For example in the EURUSD for 60 to 80 pips targets, that's why you protect your swings with an additional 10 pips breathing space.

If you are trading 5M charts your swings are going to be smaller and maybe you are after 20 to 30 pips targets, which is the 30 or 20% of the daily range, so, the same, applying some relativity you can protect your trades with 3 pips plus spread. Notice that spread is always apart. That's why the spread is not important if you are trading big charts while it becomes very relevant for an intraday perspective.

When you buy:

You enter at the ASK price which is the Chart price + Spread
You exit at the BID price which is the Chart price

When you sell:

You enter at the BID price which is the Chart price
You exit at the ASK price which is the Char price + Spread

Spread = Ask - Bid

This is important to know because our charts are showing always the BID price. This means that if we establish SL, BE and TP levels we need to add or not the spread depending is our exits are going to be at the bid or ask price.
Best time to plant a tree was 20 years ago, second best is now
  • #6,247
  • Dec 18, 2013 3:36am Dec 18, 2013 3:36am
2 Magix
your EA for 4 digits?
at me on 5 gives out a mistake when testing.
draw a conclusion of the connected ZUP version in external variables

http://www.forexfactory.com/showthread.php?t=166155&page=54

it is possible to discuss here your adviser
  • #6,248
  • Dec 18, 2013 5:28am Dec 18, 2013 5:28am
Quoting Magix
Hey All... I'ma be honest here, I have studied harmonics a while back, but wouldn't consider myself anything close to knowledgeable. That being said, I have patch worked a couple of pieces of code together that works based on a harmonics indicator. Would it be possible for me to get a couple of the gurus here to open a demo account, launch this and tell me where it needs improvements? Currently, it has been testing 5 pairs since Market Open this week, tripping the M5 chart. Link to the EA HERE (http://www.forexfactory.com/attachment.php?attachmentid=1330494&d=1387118216)....

what is the stoploss and take profit for each chart?
  • #6,249
  • Dec 18, 2013 6:26am Dec 18, 2013 6:26am
we won't disturb mr. Pip
========
ZUP 101, it very much. the old indicator (4 patterns), it is necessary to make opportunity to connect any new version (150-200 patterns) in the adviser
  • #6,250
  • Dec 18, 2013 6:34am Dec 18, 2013 6:34am
Quoting Magix
Hey All... I'ma be honest here, I have studied harmonics a while back, but wouldn't consider myself anything close to knowledgeable. That being said, I have patch worked a couple of pieces of code together that works based on a harmonics indicator. Would it be possible for me to get a couple of the gurus here to open a demo account, launch this and tell me where it needs improvements? Currently, it has been testing 5 pairs since Market Open this week, tripping the M5 chart. Link to the EA HERE (http://www.forexfactory.com/attachment.php?attachmentid=1330494&d=1387118216)....
hey man, this is an indicator-free home.

good luck
  • #6,251
  • Dec 18, 2013 6:39am Dec 18, 2013 6:39am
Quoting FineForex
{quote} hey man, this is an indicator-free home. good luck

I agree . Should of asked Mr Pip first.
Barry
  • #6,252
  • Dec 18, 2013 6:43am Dec 18, 2013 6:43am
Quoting Bary
{quote} I agree . Should of asked Mr Pip first.
long gbp @ 6354, just looking for upwards continuation based on shallow pullback --> large projection
stop at 6345
  • #6,253
  • Dec 18, 2013 6:49am Dec 18, 2013 6:49am
Quoting FineForex
{quote} long gbp @ 6354, just looking for upwards continuation based on shallow pullback --> large projection stop at 6345
and long eurusd
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  • #6,254
  • Dec 18, 2013 6:53am Dec 18, 2013 6:53am
Quoting 76bronco
Hi folks, I just wanted to share with ya all my struggles with trading and what NOT to do!!! I'm not a very disciplined trader. I do well for awhile then I ROUGE out. Emotionally I won't accept ,I was wrong with an expectation. So this is usually how it palys out: 1) Enter a trade with an expectation & confluence 2) Trades goes in my favor alittle 3) Trade now reverses and doesn't complete my next expectation 4) Now price is against me & I won't accept the loss ( This is when I start to ROUGE) 5) Start HOPE Trading it will come back to breakeven...

Hey Bronco,
You just described me and most traders perfectly. That is why most traders fail! I still now and then fall back into that mentality.
You have to overcome that to be consistent and it's not easy.
What helped me was I started thinking about this as a business. A business owner would not treat his money like that.
Also before and during every trade I try to think like I'm trading my kids money. Would I risk their money on that trade? Same question during the trade especially if it goes against you.
Losing trades are part of the business. Losing sucks especially if it's the first trade of the day. Don't look at how many $$ you lost. Just look for another A++ trade opportunity.

Good luck!
Barry
  • #6,255
  • Dec 18, 2013 7:03am Dec 18, 2013 7:03am
Quoting FineForex
{quote} and long eurusd {image}

Unless something really good presents itself I think I might sit on my hands this AM.
FOMC days are slow which is good and bad. I don't expect any big/quick move so maybe smaller SL and TP.
Good luck on your trades. I'll be watching for awhile.
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Barry
  • #6,256
  • Dec 18, 2013 7:04am Dec 18, 2013 7:04am
Hmm FOMC today @ 2.

in my limited experience the markets are kinda ehhh for hours up to it.

anyone have any opinions?
  • #6,257
  • Dec 18, 2013 7:05am Dec 18, 2013 7:05am
Quoting Bary
{quote} Unless something really good presents itself I think I might sit on my hands this AM. FOMC days are slow which is good and bad. I don't expect any big/quick move so maybe smaller SL and TP. Good luck on your trades. I'll be watching for awhile.{image}
yeah I just realized and I might have been a little trigger happy right there. will consider getting out for small profits
  • #6,258
  • Dec 18, 2013 7:06am Dec 18, 2013 7:06am
Quoting FineForex
Hmm FOMC today @ 2. in my limited experience the markets are kinda ehhh for hours up to it. anyone have any opinions?

Yes. I hope to be at my puter this afternoon to watch the excitement.
Barry
  • #6,259
  • Dec 18, 2013 7:11am Dec 18, 2013 7:11am
Quoting FineForex
{quote} long gbp @ 6354, just looking for upwards continuation based on shallow pullback --> large projection stop at 6345
Yeah I have been considering the same but just waiting for a signal it will break to the upside. It seems to be stuck in an area of supply so I need to see some evidence it will break.

I did initially take a short at a completion of an AB=CD as it entered the current range but I am just going through the posts since Mr Pip returned and this is something he says not to do, made a note and exited the trade with 1 pip profit!!

Edit: Just going to get some lunch so this is normally when everything moves and I miss it all!!
  • #6,260
  • Dec 18, 2013 7:13am Dec 18, 2013 7:13am
Quoting FineForex
{quote} yeah I just realized and I might have been a little trigger happy right there. will consider getting out for small profits
out of both positions for a couple pips.

Croc Trading needs to resume lol

... now watch these both fly up
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