Ratios & Harmonics: a Different Way to Trade | Page 400 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

"Ratios & Harmonics: a Different Way to Trade." Summary 37 replies

Learning to trade with harmonics 11 replies

Time for Change - Pivots & Harmonics to freedom 67 replies

180 reasons to trade Harmonics and Patterns 13 replies

Group Trading based on Elliott wave and Harmonics 0 replies

Attachments: Ratios & Harmonics: a Different Way to Trade
Exit Attachments

Ratios & Harmonics: a Different Way to Trade

  • #7,981
  • Jan 31, 2014 3:21pm Jan 31, 2014 3:21pm
Quoting Starry
So I'm being a little bit impulsive here, but I think this might be interesting to some of you guys. I just found it, and Im listening to it right now It is a relaxing hypnotic session for developing a 'traders mentality.' And no, Im not affiliated, I've just been using other downloads from the site, its all very professional. I will tell you guys how it works after I listen to it for a while http://www.hypnosisdownloads.com/personal-finance/trading-psychology Here's a description from here http://www.hypnosisdownloads.com/scripts/personal-finance/trading-psychology...

A little phrase ive always liked , better the edge less the emotion less edge more emotion
Never said I was Batman,all I'm saying is you'll never see us together.
  • #7,982
  • Jan 31, 2014 3:49pm Jan 31, 2014 3:49pm
Quoting headfake
{quote} A little phrase ive always liked , better the edge less the emotion less edge more emotion
True, but the actual ideal of having less emotion is to enable the trader to develop his or her skills without becoming frustrated or giving up, allowing trading to be more enjoyable. After you have less emotion, you get a better edge.

Having less emotion (being more confident) allows the building of clarity in the most effective and quickest manner.
  • #7,983
  • Jan 31, 2014 6:01pm Jan 31, 2014 6:01pm
Quoting Forexbuster
{quote} closed with profit of 10 pips now im buying pound{image}
lost on this one
  • #7,984
  • Edited Feb 1, 2014 3:55am Jan 31, 2014 11:56pm | Edited Feb 1, 2014 3:55am
Long only after bar by bar confirmation.

Attached Image (click to enlarge)
Click to Enlarge Name: audjpym15.png Size: 35 KB
-milkeyway
  • #7,985
  • Feb 1, 2014 1:00am Feb 1, 2014 1:00am
I did back testing of January month.
Timeframe from M15 to H1.
Taken patterns: ABCD, Gartley, Bat, Cypher.
Win percentage: 60-70%.
But if you traded all patterns, you would be in a loss. For example, if you enter at 127.2% of AB leg in ABCD, and CD leg extends into 161.8% of AB, it really hurts to your profits. And it happens often and you get smaller profit.
  • #7,986
  • Feb 1, 2014 2:04am Feb 1, 2014 2:04am
Quoting IenDzi
I did back testing of January month. Timeframe from M15 to H1. Taken patterns: ABCD, Gartley, Bat, Cypher. Win percentage: 60-70%. But if you traded all patterns, you would be in a loss. For example, if you enter at 127.2% of AB leg in ABCD, and CD leg extends into 161.8% of AB, it really hurts to your profits. And it happens often and you get smaller profit.
Instead of patterns, if you focus on ratios, supply and demand at fib levels, price action at fib levels, strength and weakness between supply and demand, it would enough for successful trade. Forget about patterns and focus on this things in this FEB in 5 MIN TF.. I don't trade patterns anymore. I focus on these things.
-milkeyway
  • #7,987
  • Feb 1, 2014 3:38am Feb 1, 2014 3:38am
Quoting IenDzi
I did back testing of January month. Timeframe from M15 to H1. Taken patterns: ABCD, Gartley, Bat, Cypher. Win percentage: 60-70%. But if you traded all patterns, you would be in a loss. For example, if you enter at 127.2% of AB leg in ABCD, and CD leg extends into 161.8% of AB, it really hurts to your profits. And it happens often and you get smaller profit.
If I may add my experience:

I wrote an EA a year ago when this thread first started.
The EA would trade ABCD, Gartley, Bat, Butterfly and Crab patterns as per Mr. Pip's ratios.
They could be traded as either complete patterns, or on the turning point for the final leg (like an aggressive C).
The result? The EA did exactly what I asked of it, but it couldn't turn a profit.
So I tried different time frames and different currency pairs. I attempted to add more indicator-based filters.
But still there was no long term profit.

Why? Because the EA had no perception of order flow. I'm sure a better coder could integrate some form of orderflow assessment, but for me the results were clear: don't trade patterns blindly. They must have orderflow support.

Just my experience with it, I'm sure other people's results will vary.
  • #7,988
  • Feb 1, 2014 3:54am Feb 1, 2014 3:54am
Quoting itinerant
{quote} If I may add my experience: I wrote an EA a year ago when this thread first started. The EA would trade ABCD, Gartley, Bat, Butterfly and Crab patterns as per Mr. Pip's ratios. They could be traded as either complete patterns, or on the turning point for the final leg (like an aggressive C). The result? The EA did exactly what I asked of it, but it couldn't turn a profit. So I tried different time frames and different currency pairs. I attempted to add more indicator-based filters. But still there was no long term profit. Why? Because the...
Actually my prediction is no one can create indicator for order flow and strength and weakness and ratios. This things can be identified better only by eyes.
-milkeyway
  • #7,989
  • Edited 4:09am Feb 1, 2014 3:58am | Edited 4:09am
Candles distracts me when i identify strength and weakness. So, during identifying orderflow and strength and weakness I use this kind of chart. As price comes down to the demand zone bulls buying it showed by brown arrows which causes increasing depth to the upside showed by green arrows.
Attached Image (click to enlarge)
Click to Enlarge Name: Presentation1.jpg Size: 41 KB
-milkeyway
  • #7,990
  • Feb 1, 2014 5:22am Feb 1, 2014 5:22am
Attached Image (click to enlarge)
Click to Enlarge Name: eurgbpm30.png Size: 27 KB
-milkeyway
  • #7,991
  • Feb 1, 2014 5:42am Feb 1, 2014 5:42am
Quoting kumaramy
{quote} Instead of patterns, if you focus on ratios, supply and demand at fib levels, price action at fib levels, strength and weakness between supply and demand, it would enough for successful trade. Forget about patterns and focus on this things in this FEB in 5 MIN TF.. I don't trade patterns anymore. I focus on these things.

Yes, I will focus on this things now. I needed to have statistics for this that the patterns doesn't work well.
I remember that Mr. Pip wrote about the secret of this patterns, maybe the secret is that patterns are not profitable.
  • #7,992
  • Feb 1, 2014 6:08am Feb 1, 2014 6:08am
Quoting IenDzi
{quote} Yes, I will focus on this things now. I needed to have statistics for this that the patterns doesn't work well. I remember that Mr. Pip wrote about the secret of this patterns, maybe the secret is that patterns are not profitable.
I don't think he says pattern are not profitable. I think he tells orderflow is important than patterns.
-milkeyway
  • #7,993
  • Feb 1, 2014 6:09am Feb 1, 2014 6:09am
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusddaily.png Size: 28 KB
-milkeyway
  • #7,994
  • Feb 1, 2014 6:46am Feb 1, 2014 6:46am
Quoting kumaramy
{quote} I don't think he says pattern are not profitable. I think he tells orderflow is important than patterns.

He didn't say that, he said that later he will tell the secret about patterns.
  • #7,995
  • Feb 1, 2014 10:13am Feb 1, 2014 10:13am
In which chart you can see the structure clearly ?
Attached Image(s) (click to enlarge)
Click to Enlarge Name: audjpym5.png Size: 20 KB
Click to Enlarge Name: audjpym5line.png Size: 21 KB
-milkeyway
  • #7,996
  • Edited 10:41am Feb 1, 2014 10:20am | Edited 10:41am
People use economic calender to follow news. News disturbs harmonics many time. But I use economic calender to avoid news. Guess and tell me how can I use calender to avoid news?You will no need to face news violations during intraday trading using calender
-milkeyway
  • #7,997
  • Feb 1, 2014 12:38pm Feb 1, 2014 12:38pm
Quoting kumaramy
People use economic calender to follow news. News disturbs harmonics many time. But I use economic calender to avoid news. Guess and tell me how can I use calender to avoid news?You will no need to face news violations during intraday trading using calender
If the market has the direction there is no news that could do any big harm with it.
  • #7,998
  • Feb 1, 2014 1:09pm Feb 1, 2014 1:09pm
Quoting 91dawid
{quote} If the market has the direction there is no news that could do any big harm with it.
IMHO high impact news can definitely burn you on the short TF (1 min, 5 min)
  • #7,999
  • Feb 1, 2014 1:26pm Feb 1, 2014 1:26pm
Quoting kumaramy
People use economic calender to follow news. News disturbs harmonics many time. But I use economic calender to avoid news. Guess and tell me how can I use calender to avoid news?You will no need to face news violations during intraday trading using calender
At the start of the week, I plot out all the high impact news relating to the pair I'm trading as vertical lines.

That works well for shorter time frames, but visually it won't work well on the longer time frames. For the longer TF, you need to code a countdown timer.
  • #8,000
  • Feb 1, 2014 2:02pm Feb 1, 2014 2:02pm
Quoting IenDzi
{quote} Yes, I will focus on this things now. I needed to have statistics for this that the patterns doesn't work well. I remember that Mr. Pip wrote about the secret of this patterns, maybe the secret is that patterns are not profitable.
you'll probably find every pattern out there only works 50% of the time
Never said I was Batman,all I'm saying is you'll never see us together.
4 traders viewing now