Attachments: Ratios & Harmonics: a Different Way to Trade

Ratios & Harmonics: a Different Way to Trade

#11,461
Dec 31, 2014 8:49am Dec 31, 2014 8:49am

arvindeept
| Joined Jan 2013 | Status: luckytrader | 212 Posts

https://charts.mql5.com/6/606/gold-m5-gci-financial.png

#11,462
Dec 31, 2014 9:21am Dec 31, 2014 9:21am

Mr. Pip
| Membership Revoked | Joined Jul 2010 | 9,273 Posts

Quoting Mr_Burns

Disliked

I watched the video but might have to cover some parts again (much to process). It was a very good lecture, THANK YOU! I tried to create a ROE (Rules Of Engagement) from your teachings but please correct me if I got something wrong or missed out on some important aspect. Harmonic trading - A different way to trade Find long term direction (zoom out on your chart, is it bull or bear) Locate the main swing where prize operates (no HH or LL) Study order flow (https://www.youtube.com/watch?v=u8eGrIvlCBQ) (evaluate projection, momentum and...

Ignored

Nice work and yes min 1:1 you should never trade with an adverse R/R. You also need to define your rules with greater detail and have clear course of action.

Here is an example. You wrote to move SL to breakeven once price move in your direction.

You need to be more specific:

Protective Stops:

Every trade will have a protective stop placed above or below previous NSH or NSL. Upon entry the trade will be monitored allowing the short term order flow to guide me through the progression of my trade.

If trade goes in favor I will trail my protective stop to remove and eliminate all risk from trade and lock in profit.

If price reaches the 38.2% Fib. Then move stop to BE +5 to eliminate all risk. If price continues in favor, then trail stops in accordance with the short term order flow to just above or below the nearest structure low or high until profit target has been met or until the stop is triggered.

This is just an example but when you write your plan be specific and remove subjective behaviors from your ROE.

I believe I have covered money management but will post these in case I have not before. Money management is a critical component to trading and there are many formulas out there. I use the smooth ratio formula attached.

Your feedback is excellent and I will work on that in the future. Thank you!

Attached File(s)

DCASTFX_fixed_ratio_money_management.pdf 49 KB | 1,052 downloads

DCASTFX_smoothed_ratio_money_management.pdf 664 KB | 722 downloads

If you fail to plan, you plan to fail.

#11,463
Dec 31, 2014 9:23am Dec 31, 2014 9:23am

Mr. Pip
| Membership Revoked | Joined Jul 2010 | 9,273 Posts

Quoting steos

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{quote} Mr. Pip, your video was great! Thorough and simple at the same time. Your way of thinking shows the way we should perceive and manage analysis and trading. What you said about absorbing the info and making it your own is very true. Definately the 3 principles of structure, order flow and expectations will enrich my trading and be part of my thinking process. Thank you so much for sharing your knowledge. Sharing is caring. I wish you all the best for you and your family. Happy New Year!!

Ignored

Thank you, Keep your approach simple don't over think it.

If you fail to plan, you plan to fail.

#11,464
Dec 31, 2014 9:25am Dec 31, 2014 9:25am

Mr. Pip
| Membership Revoked | Joined Jul 2010 | 9,273 Posts

Quoting Atihun

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Hello Mr.Pip. Thank you for this thread. im currently at page 140, using the holidays and thin markets to improve my trading and do something productive. Im trading with fibs in the 4h timeframe but never worked my way through harmonics and thought it would be a nice tool for targets. im watching multiple pairs but in gbpusd i saw this near C yesterday: currently: {image} the XA 78.6 area at 5630-40 should be a strong resistance as i see multiple levels there would you agree? all the best ati

Ignored

Agree.

If you fail to plan, you plan to fail.

#11,465
Dec 31, 2014 9:26am Dec 31, 2014 9:26am

Mr. Pip
| Membership Revoked | Joined Jul 2010 | 9,273 Posts

Quoting pampaq

Disliked

Tp placed yesterday reached, the strength of the harmonics, and in turn, point C, correction reached, whereby Probability, must be controlled, the price upward trend to retake the main swing. Two trades, the same pair, real, greetings, and I thank Mr Pip for all your kindness, and knowledge, Good Year, I wish you, master, I hope to continue with you and your people, learning, improving and winning. Hug and greetings {image} {image} {image}

Ignored

Well done! All the best to you and your trading!!

If you fail to plan, you plan to fail.

#11,466
Dec 31, 2014 9:28am Dec 31, 2014 9:28am

Mr. Pip
| Membership Revoked | Joined Jul 2010 | 9,273 Posts

Quoting arvindeept

Disliked

{image}

Ignored

If you fail to plan, you plan to fail.

#11,467
Dec 31, 2014 9:30am Dec 31, 2014 9:30am

arvindeept
| Joined Jan 2013 | Status: luckytrader | 212 Posts

update...........

https://charts.mql5.com/6/606/gold-m...inancial-3.png

#11,468
Dec 31, 2014 9:36am Dec 31, 2014 9:36am

arvindeept
| Joined Jan 2013 | Status: luckytrader | 212 Posts

crude......................

https://charts.mql5.com/6/606/crude-...-financial.png

#11,469
Dec 31, 2014 9:41am Dec 31, 2014 9:41am

pampaq
| Joined May 2013 | Status: Trader | 867 Posts

Quoting pampaq

Disliked

Controlling, if it reaches 61% of the almost, 1to1, which converges with the possible 1to1, minor, there likely bounce higher. We will see and discuss before entering. regards {image}

Ignored

Waiting pattern candle to go long high as 38%.

Attached Image(s) (click to enlarge)

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#11,470
Dec 31, 2014 9:41am Dec 31, 2014 9:41am

Mr. Pip
| Membership Revoked | Joined Jul 2010 | 9,273 Posts

This year has been filled with many blessing and great adventures. As I await the New Year and as our friends on the other side are already into the first few hours into theirs, I would like to say that I am very proud and happy with the progress most of you have shown.

Those of you who have focused on what matters (reading the chart) are finding greener pips and much better trading. I would like to challenge you in this new year to take the bull by the horns and work harder then the person next to you and to be smarter and better prepared then your adversary on the battle field.

Aim to be a better trader and you will see that soon the person or entity on the other side of your trade is no match for you. Be relentless in your pursuit toward meeting the goals you have set forth. Let that be your driving force. Be 100% accountable for your performance and your decisions and accept no excuses whatsoever! Excuses are accepting failure and that is not an option. Choose greatness, choose to be a winner. When you step onto the battle field leave nothing behind and give it all you've got.

God Bless everyone and a very Happy New Year!!!!!

If you fail to plan, you plan to fail.

#11,471
Dec 31, 2014 9:42am Dec 31, 2014 9:42am

Aj1
| Joined Mar 2011 | Status: Trader | 384 Posts

Hello Traders

Wishing everyone a happy and prosperous New Year. And lots of PIPS.

Regards
Aj1

#11,472
Dec 31, 2014 9:43am Dec 31, 2014 9:43am

arvindeept
| Joined Jan 2013 | Status: luckytrader | 212 Posts

update..............

https://charts.mql5.com/6/606/crude-...inancial-2.png

#11,473
Dec 31, 2014 9:46am Dec 31, 2014 9:46am

arvindeept
| Joined Jan 2013 | Status: luckytrader | 212 Posts

last chart n update for the day..................

https://charts.mql5.com/6/606/gold-m...inancial-4.png

#11,474
Edited 10:14am Dec 31, 2014 9:54am | Edited 10:14am

pampaq
| Joined May 2013 | Status: Trader | 867 Posts

Quoting pampaq

Disliked

{quote} Waiting pattern candle to go long high as 38%. {image} {image}

Ignored

Strong, no? Reanalysing.
Coming up mR 5M, see, when in doubt we left quickly.

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#11,475
Dec 31, 2014 9:58am Dec 31, 2014 9:58am

arvindeept
| Joined Jan 2013 | Status: luckytrader | 212 Posts

Quoting Mr. Pip

Disliked

{quote}

Ignored

thanks a lot.....may god bless you ........and wish u and ur followers a very very HAPPY n PROSPEROUS NEW YEAR......by the way i am one of those lucky to have met u here.....now going to enjoy wid my sweety daughter......bye all....