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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

  • #11,201
  • Nov 28, 2014 11:39pm Nov 28, 2014 11:39pm
Quoting Mr. Pip
Hello Traders. I continue to see improvement and great trading well done. I want to get everyone's opinion on when would be the best time for the live session. I was thinking mid to end of December to give you all plenty of time to get your schedule in order. What time would be best also I wanted to get an agenda together what would you all like to see besides putting all the steps together? This will be more of a one way dialog. I will not be able to do to many questions and answer or we will not get everything done. I will leave time at the end...
Hi Mr.Pip, thanks for setting the preparing the webinar, that would be a great help, I have been implementing what have learned here and it gave me an edge int trading, I use Trading Made Simple with the information I learnt in here, I combined what I learnt here with TMS, and it made me reach the goal
I Have Learned to Take Some Losses to Make Profits
  • #11,202
  • Nov 29, 2014 5:45am Nov 29, 2014 5:45am
Quoting Mr. Pip
Hello Traders. I continue to see improvement and great trading well done. I want to get everyone's opinion on when would be the best time for the live session. I was thinking mid to end of December to give you all plenty of time to get your schedule in order. What time would be best also I wanted to get an agenda together what would you all like to see besides putting all the steps together? This will be more of a one way dialog. I will not be able to do to many questions and answer or we will not get everything done. I will leave time at the end...
Hello Mr. Pip,
For me? Any minute on the clock/date dial is perfectly fine. You name it, I'll be lurking there. I'll make time.

Aside from what I'm sure will be a wonderful agenda already, if you could touch on a little of your "personal reading thoughts" of order flow (especially on the 233) I'd find that most interesting and I'm sure as enlightening as the rest of what you'll cover.

Thank you for all you (and the others here) do for us.

Quietly lurking & learning ...
Chris
Ghost Rider - WWTBMD?
  • #11,203
  • Nov 29, 2014 7:29am Nov 29, 2014 7:29am
Thank you for the feedback I think I will do the 233 tick and then jump to the 5M since many do not have access to tick data I will work on an agenda and post it for all to review and comment.

I will ill shoot for a day between Christmas and New Year so probably December 23 or 26 but will let you know.
If you fail to plan, you plan to fail.
  • #11,204
  • Edited 12:11pm Nov 29, 2014 9:14am | Edited 12:11pm
Good Morning Mr.Pip & fellow trades

Here is a trade I took early this week on the GBPAUD - 1hr. It was a loser -90 pips. There were 2 opportunities to take it short.

Set Up: There was an ABCD pattern that lined up with the 61.8 of the main swing but there was also a classic BAT Pattern with a AB 138.6 Ext at the 88.6
Structure: Decent structure at the ABCD with a RN and a strong structure at the BAT completion.
Order Flow:

  1. Long term: After an initial steep run up with tons of strength, price has recently put in LL while retesting the Highs. A bearish sign until the highs are penetrated anyway.
  2. Short term: See 2nd chart

Bar by Bar: See 2nd chart

Summary: I took the initial ABCD which I got stopped out on. I planned to re-engage on the BAT pattern but due to my schedule, I didn't have the opportunity. Too bad to there was some nice price action on the initial test of the 88.6 and another chance with the failure to continue LH. I'm trying to put a cap on my stops and not have them so wide, maybe in this particular situation it was a bad strategy. I made the same mistake last week, time to learn the lesson and remember it this time.

Question: What do you think Mr.Pip, should I have taken both trades individually or had my stops wider? Maybe even doubling on the BAT completion to take advantage of cost averaging? Right now, my rules say to take each trade individually unless in close proximatey and never to double down on a losing trade. Any opinions or comments are always welcomed. Sorry for so much information, probably should have simplified it. Just trying to learn from my mistakes.

SETUP GBPAUD - 1Hr

Attached Image (click to enlarge)
Click to Enlarge Name: GBPAUD.png Size: 145 KB


Price Action:
Attached Image (click to enlarge)
Click to Enlarge Name: GBPAUD2.png Size: 237 KB

edit: My resistance line should say support but you guys get the idea.

Lessons:
1) Learn from your mistakes or history will repeat itself.
  • #11,205
  • Nov 29, 2014 9:45am Nov 29, 2014 9:45am
Quoting Mr. Pip
Hello Traders. I continue to see improvement and great trading well done. I want to get everyone's opinion on when would be the best time for the live session. I was thinking mid to end of December to give you all plenty of time to get your schedule in order. What time would be best also I wanted to get an agenda together what would you all like to see besides putting all the steps together? This will be more of a one way dialog. I will not be able to do to many questions and answer or we will not get everything done. I will leave time at the end...
That would be great Mr.pip.

uhmmmm. Personally, i would like to see:

  1. trade management
  2. order flow analysis
  3. Key mistakes that you've made in your progress as a trader. Anything from computer hardware mistakes to Analysis.
  4. How do you handle a bad day at the office?
  5. What are your trading goals (daily, weekly, monthly , yearly)
  6. I would also like to know how you started in this business, the strategies you went through before you find success. The struggles you overcame to open your own investment business.
  7. money management

Some of these items might be to personal and out of the scope of your training so I understand if you wont be able to touch base on some of these.

Also, I know it defeates the purpose of a live training rooom but having a recording to refurther back too on your youtube page would be nice. I'm not sure if this option is availible. I know operating Ninja, your broker and running a P2P network can already take up alot of computer processing power and bandwidth. But it would be nice.

In advance, I like to thank you for your time.

  • #11,206
  • Nov 29, 2014 10:35am Nov 29, 2014 10:35am
Good morning again.... I promise I wont talk to much on this one

Set Up: Heres a double trade I took on the GBPNZD - 1 HR. I was able to ride the gartley to target 1 (+ 327 pips) and the smaller ABCD in the reverse direction (+160 pips) also for target 1. I know Mr.Pip highlighted the second one a couple of days ago with target 2 but I took it conservatively since I was a work and couldn't monitor.

It doesn't always work out like this way but it made my week for sure

Set ups:
Attached Image (click to enlarge)
Click to Enlarge Name: GBPNZD.png Size: 141 KB


Price action:
Attached Image (click to enlarge)
Click to Enlarge Name: GBPNZD2.png Size: 153 KB
  • #11,207
  • Nov 29, 2014 10:51am Nov 29, 2014 10:51am
Quoting Mack2013
Good Morning Mr.Pip & follow trades Here is a trade I took early this week on the GBPAUD - 1hr. It was a loser -90 pips. There were 2 opportunities to take it short. Set Up: There was an ABCD pattern that lined up with the 61.8 of the main swing but there was also a classic BAT Pattern with a AB 138.6 Ext at t....
This one is awesome, great analysis in the second image attachment.

Cheers,
I follow only one person and his strategies...
  • #11,208
  • Nov 29, 2014 12:07pm Nov 29, 2014 12:07pm
Quoting chotabheem
{quote} This one is awesome, great analysis in the second image attachment. Cheers,
Thanks Chotabheem. It takes a long time to do this type of Analysis, I'm glad its useful.
  • #11,209
  • Nov 29, 2014 12:10pm Nov 29, 2014 12:10pm
Quoting Mack2013
Good morning again.... I promise I wont talk to much on this one Set Up: Heres a double trade I took on the GBPNZD - 1 HR. I was able to ride the gartley to target 1 (+ 327 pips) and the smaller ABCD in the reverse direction (+160 pips) also for target 1. I know Mr.Pip highlighted the second one a couple of days ago with target 2 but I took it conservatively since I was a work and couldn't monitor. It doesn't always work out like this way but it made my week for sure Set ups: {image} Price action: {image}
always make me smile when i see someone do a stop and reverse. Taking pips on the way up and then immediately on the way back down surely has to be the coolest thing in trading Keep it up mack, great work.
  • #11,210
  • Nov 29, 2014 12:20pm Nov 29, 2014 12:20pm
Quoting Mr. Pip
I think I will do the 233 tick and then jump to the 5M since many do not have access to tick data
For anybody wishing to use tick charts on MT4, it is quite straightforward now: Google for OVO tickbar.ex4 and you should find the indicator and instructions.
I'm not affiliated with him (her?) but I've been using the indicator for several weeks and it appears stable.
  • #11,211
  • Nov 30, 2014 12:20am Nov 30, 2014 12:20am
Quoting Mr. Pip
Hello Traders. I continue to see improvement and great trading well done. I want to get everyone's opinion on when would be the best time for the live session. I was thinking mid to end of December to give you all plenty of time to get your schedule in order. What time would be best also I wanted to get an agenda together what would you all like to see besides putting all the steps together? This will be more of a one way dialog. I will not be able to do to many questions and answer or we will not get everything done. I will leave time at the end...
Looking forward to this and plan on attending. I can't think of anything else I would like to see other than seeing it all get put together from your perspective.
Damn The Torpedoes, Full Speed Ahead!
  • #11,212
  • Nov 30, 2014 2:53am Nov 30, 2014 2:53am
Will it be recorded for those unable to attend?
  • #11,213
  • Nov 30, 2014 5:14am Nov 30, 2014 5:14am
Hi All,

I started following this thread, unfortunately just a couple of weeks ago. I wish that I had searched up harmonic trading much much earlier. I skimmed through the thread and found lots of valuable information. Hats off to Mr.Pip. Thank you.

EU monthly chart has just completed a cypher pattern. Please give me your feedback on the chart below.

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 25 KB


Given the above pattern is correct, now there seems to be a possible bat pattern completion on H1 that falls right into the PRZ of the Monthly cypher.

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot2.png Size: 27 KB


Can we enter a very low risk trade on H1 and hold it to take a high return on Monthly.
  • #11,214
  • Nov 30, 2014 6:26am Nov 30, 2014 6:26am
Quoting Mack2013
Good Morning Mr.Pip & fellow trades Here is a trade I took early this week on the GBPAUD - 1hr. It was a loser -90 pips. There were 2 opportunities to take it short. Set Up: There was an ABCD pattern that lined up with the 61.8 of the main swing but there was also a classic BAT Pattern with a AB 138.6 Ext at the 88.6 Structure: Decent structure at the ABCD with a RN and a strong structure at the BAT completion. Order Flow: Long term: After an initial steep run up with tons of strength, price has recently put in LL while retesting the Highs. A bearish...
Hello, Mack2013, My two cents. Uptrend. Watch the latest low, which produces a high, ie bullish Pivot, was never broken, never changed the uptrend to downtrend. What makes the price in that little resistance is a pullback complete, never has a candle closing below the support line, marked by you, as former resistance line at position 9 and 10, then question because go short, if the order flow is bullish ?, the price is making a complete pullback, and there was never a candlestick pattern to close below the minor support.?
In turn, the sequence is: strong / strong / weak / weak pum high
This is what I see, and are my two cents. If we operate price action, price action applied, and the trend does not change, until we have clear evidence that has changed, and the only objective evidence of turnaround, is breaking the pivot of reference. in this case, about 1.8240. Greetings, and we are all learning,to MrPip
Attached Image (click to enlarge)
Click to Enlarge Name: GBPAUD2.png Size: 239 KB
  • #11,215
  • Nov 30, 2014 6:27am Nov 30, 2014 6:27am
Quoting Marillionpip
{quote} Now that I'm trading full time, the thing I wonder about most when it comes to other traders is daily and weekly routines. Do you spend X amount of time on the weekend preparing and if so, doing what, how many pairs do you skim through, do you check the dollar index at all or COT, and what is your pre-trading routine each day. Optimal efficiency is definitely something I wonder about.. Kid Regards.
I do none of those things. I turn on my PC open Ninja Trader check the news calendar only to be aware of when to expect high volatility spend maybe five minutes looking at the EU and get to work. I believe all of those element you mention above are already reflected in price so looking at them does me little to no good. I can see the chart and the order flow lets me know what the market wants to do.
If you fail to plan, you plan to fail.
  • #11,216
  • Nov 30, 2014 6:38am Nov 30, 2014 6:38am
Quoting Mack2013
{quote} That would be great Mr.pip. uhmmmm. Personally, i would like to see: trade management order flow analysis Key mistakes that you've made in your progress as a trader. Anything from computer hardware mistakes to Analysis. How do you handle a bad day at the office? What are your trading goals (daily, weekly, monthly , yearly) I would also like to know how you started in this business, the strategies you went through before you find success. The struggles you overcame to open your own investment business. money management Some of these items...
Great points I will touch on these. Thank you.
If you fail to plan, you plan to fail.
  • #11,217
  • Nov 30, 2014 6:41am Nov 30, 2014 6:41am
Quoting devontrader
Will it be recorded for those unable to attend?
I don't think I will be able to record it as this will probably be around three hours or so and the file would be to large to put up. What I can maybe do is record a short version but perhaps with the amount of time I will give you, you can find a way to attend.
If you fail to plan, you plan to fail.
  • #11,218
  • Nov 30, 2014 6:52am Nov 30, 2014 6:52am
Quoting Mr. Pip
{quote} Great points I will touch on these. Thank you.
When you tell us Mr Pip, I'll be learning and thanking for their time and contribution. greetings and thanks
  • #11,219
  • Nov 30, 2014 7:27am Nov 30, 2014 7:27am
Great to hear Mr. Pip that there will be an live session.
For me the most important subject is still trade managment!
i will make sure that i will attend the webinar.

for people that want to review it is an possibilty to record it from your own computer. with software like cam studio. just an suggesstion.
  • #11,220
  • Nov 30, 2014 11:48am Nov 30, 2014 11:48am
Quoting pampaq
{quote} Hello, Mack2013, My two cents. Uptrend. Watch the latest low, which produces a high, ie bullish Pivot, was never broken, never changed the uptrend to downtrend. What makes the price in that little resistance is a pullback complete, never has a candle closing below the support line, marked by you, as former resistance line at position 9 and 10, then question because go short, if the order flow is bullish ?, the price is making a complete pullback, and there was never a candlestick pattern to close below the minor support.? In turn, the sequence...
Thank you for your perspective Pampaq. I totally agree. Even tho there was some minor weakness in price upon entry, it wasn't enough to change the current bias from bullish to bearish. I should of waited for a clearer signal. Candle 9 was definately a deal breaker to the trade. Just wish I was at the computer to actively manage. I could of got out at B/E but instead price hit my stops. oh well

As always, its nice to hear another traders thoughts
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