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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

  • #7,601
  • Jan 16, 2014 12:46am Jan 16, 2014 12:46am
my trade for tonight

buy on usdchf
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sell on eurusd
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  • #7,602
  • Jan 16, 2014 1:24am Jan 16, 2014 1:24am
Quoting Forexbuster
my trade for tonight buy on usdchf {image} sell on eurusd {image}
Why buy usdchf ?
-milkeyway
  • #7,603
  • Jan 16, 2014 1:32am Jan 16, 2014 1:32am
Quoting kumaramy
{quote} Why buy usdchf ?
i want to spread the eggs in diff basket don't put all eggs in one basket or you loose them all
  • #7,604
  • Jan 16, 2014 1:35am Jan 16, 2014 1:35am
Quoting Forexbuster
{quote} i want to spread the eggs in diff basket don't put all eggs in one basket or you loose them all
What is spreading eggs in diff. basket and putting all eggs in one basket ?
-milkeyway
  • #7,605
  • Jan 16, 2014 1:41am Jan 16, 2014 1:41am
Quoting kumaramy
{quote} What is spreading eggs in diff. basket and putting all eggs in one basket ?

it means dont stick in one currency i chose usdchf because its negative correlation of eurusd it means when eurusd go down usdchf is going up
and vice versa
  • #7,606
  • Jan 16, 2014 1:49am Jan 16, 2014 1:49am
Quoting Forexbuster
{quote} it means dont stick in one currency i chose usdchf because its negative correlation of eurusd it means when eurusd go down usdchf is going up and vice versa
I am doing the same. But why you did chose to sell eurusd and usdchf ? Did you find any orderflow ?
-milkeyway
  • #7,607
  • Jan 16, 2014 1:59am Jan 16, 2014 1:59am
Quoting Mr. Pip
Traders, Let me know how thing are getting for you. Are you all becoming more profitable? Are you finding clarity in your ability to read the charts? Is trading becoming easier? Give me some feed back It helps me assess where we are at and what we need to focus on. Timing an entry is still on my list, I will work on that after my test next Wednesday. But let me know how you feel personally. If you don't want to post it here although I wish you would we are all family here you can always send me a PM.
I appreciate your work Mr.Pip! I realized there might be people who are just reading the thread, learning and earning money by trading according to what you teach and share. We even don't need to say thanks for that. I wonder what is the best way to express our gratitude.

I keep practicing the ABCD and AB=CD trying to include OrderFlow ideas that you taught. At some point I started trading T233, because that is what Mr.Pip is doing, but quickly realized that I don't have much time for that time frame. So I continued focusing just on H1 mainly. On a new demo nano account up to now I took 10 trades - 5 winners, 4 losers and 1 break even. Ideally, if I had enough time, I would update the trades in live, but that would affect the quality of the trades I take. I want to do a follow up at least on some of those trades and see what Mr.Pip and others say. I usually don't have a desire to post my trades, but I want to do that since these trades exist because of following Mr.Pip's ideas, and maybe seeing them will help others.

To answer your other questions, yes, understanding better what is the OrderFlow, what be nice (I watched all the videos and read mostly all posts on this thread about that), and by the way, why is it called "Order Flow"? Who's order? Understanding better timing entry also is something I am looking for.

Ok, so here are my AUDUSD H1 ABCD entry and exits. That was my first trade on a nano account, and EasyOrder script (I am big fan of the script) took a wrong position size, instead of 1% it risked almost all my account on this trade. So after I closed both the trades my 16 USD account became +25 = 36 USD (about 165% gain) account, that is displayed on nano account as 36000. That is also the reason why I closed half of the position earlier on consolidation, because it was already a big winner. I know, I know, I never do this usually, just risk 0.25-2% on one trade, that was a mistake.

But forget the MM on this trade, just look at the Mr.Pip rules.

Add by the way, I have exited earlier, but eventually the price did reach the initial 61.80% TP.

Hope this helps.
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  • #7,608
  • Jan 16, 2014 2:02am Jan 16, 2014 2:02am
Quoting kumaramy
{quote} I am doing the same. But why you did chose to sell eurusd and usdchf ? Did you find any orderflow ?

red is the orderflow

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  • #7,609
  • Jan 16, 2014 2:17am Jan 16, 2014 2:17am
almost there on my TP

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  • #7,610
  • Jan 16, 2014 2:29am Jan 16, 2014 2:29am
Quoting Forexbuster
almost there on my TP {image} {image}

close my trade with profit yahoo did not wait for TP to be hit
my new order because order flow change i hope

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  • #7,611
  • Jan 16, 2014 2:38am Jan 16, 2014 2:38am
Quoting Forexbuster
{quote} close my trade with profit yahoo did not wait for TP to be hit my new order because order flow change i hope {image} {image}

got stop out ouch... wrong analysis
  • #7,612
  • Jan 16, 2014 4:10am Jan 16, 2014 4:10am
order flow

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  • #7,613
  • Jan 16, 2014 5:25am Jan 16, 2014 5:25am
Quoting 76bronco
This is how I feel when I don't trade with patience or discipline. I am writing in response to your request for additional information in Block 3 of the accident report form. I put "Poor planning" as the cause of my accident. You asked for a fuller explanation and I trust the following details will be sufficient. I am a bricklayer by trade. On the day of the accident, I was working alone on the roof of a new six-storey building. When I completed my work, I found I had some bricks left over, which, when weighed later were found to be slightly in...
i like it
  • #7,614
  • Jan 16, 2014 6:16am Jan 16, 2014 6:16am
Quoting juliuy
{quote} I appreciate your work Mr.Pip! I realized there might be people who are just reading the thread, learning and earning money by trading according to what you teach and share. We even don't need to say thanks for that. I wonder what is the best way to express our gratitude. I keep practicing the ABCD and AB=CD trying to include OrderFlow ideas that you taught.{image} {image}
awesome man great start!

stick around and help us catch the market... also try and forecast the set up before it happens and post it, this way you get sharper and we can help you out. we trade the right side of the screen
  • #7,615
  • Jan 16, 2014 6:52am Jan 16, 2014 6:52am
Afternoon All

I am currently looking at the Eur?Jpy 5Min.
I see an ABCD completion, with structure and Harmonics. Looking at Order flow is to the short side, Momentum and projection too. Looking for a sign that the bulls will take this higher.
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  • #7,616
  • Jan 16, 2014 6:54am Jan 16, 2014 6:54am
Looked at your video about structure and order flow Mr.Pip yesterday and it felt like I got another piece of the puzzle in place to become a successful trader, thanks!

What do you guys think about this EURJPY trade? Enter long in green zone, target red zone.
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Rise and rise again until lambs become lions
  • #7,617
  • Jan 16, 2014 7:26am Jan 16, 2014 7:26am
Quoting Forexbuster
{quote} red is the orderflow {image} {image}

GM Traders.
Hey Forex. I'm not sure that your red horizontal box indicates order flow. My understanding of order flow is basically who's in charge? Bulls or bears? Order flow is similar to trend. We look for NSH's and NSL's, LL's and HH's, momentum and projection to determine order flow.
What your red box looks like to me is structure ( support and resistance).
Some one correct me if I'm wrong please!!
Mr Pip is the ultimate authority on this but that's what I get out of watching his video's.

By the way nice green pips!
Barry
  • #7,618
  • Jan 16, 2014 7:54am Jan 16, 2014 7:54am
Hello Mr. Pip.
I decided to do practice on 1 M and 5 M chart for a month. Is it okay ?
And after 22 can start posting trade examples again ?
Thanks.
-milkeyway
  • #7,619
  • Jan 16, 2014 8:06am Jan 16, 2014 8:06am
First trade today a loser. Long UJ at "D". Thought there was nice structure, RN and AB=CD
But news decided differently.
Out -12
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Barry
  • #7,620
  • Jan 16, 2014 8:14am Jan 16, 2014 8:14am
Quoting Mr_Burns
Looked at your video about structure and order flow Mr.Pip yesterday and it felt like I got another piece of the puzzle in place to become a successful trader, thanks! What do you guys think about this EURJPY trade? Enter long in green zone, target red zone. {image}

Looks like the same trade as mine. You had structure and AB=CD. To much momentum going down, order flow was against us but that is normal for a "D" trade. Loses are part of learning, go on to the next opportunity.
Barry
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