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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

  • #12,101
  • Jan 20, 2015 8:47am Jan 20, 2015 8:47am
Quoting Mr. Pip
Patience is paying off {image}
Will be interesting to see what happens around 1.5175
  • #12,102
  • Jan 20, 2015 8:50am Jan 20, 2015 8:50am
Well still in this trade not looking good for either side. It's a question of who wants it more.
Attached Image (click to enlarge)
Click to Enlarge Name: $GBPUSD (233 Tick) 1_20_2015.jpg Size: 98 KB
If you fail to plan, you plan to fail.
  • #12,103
  • Jan 20, 2015 8:50am Jan 20, 2015 8:50am
Quoting pampaq
{quote} BE In R1, leaving
In, Ema 21, out, +34 pips. regards
Attached Image (click to enlarge)
Click to Enlarge Name: EURJPYM5tpema21.png Size: 59 KB
  • #12,104
  • Jan 20, 2015 8:55am Jan 20, 2015 8:55am
Price is starting to cooperate again.
Attached Image (click to enlarge)
Click to Enlarge Name: $GBPUSD (233 Tick) 1_20_2015.jpg Size: 97 KB
If you fail to plan, you plan to fail.
  • #12,105
  • Jan 20, 2015 8:57am Jan 20, 2015 8:57am
Quoting Mr. Pip
Price is starting to cooperate again. {image}
so stubborn
follow the flow
  • #12,106
  • Jan 20, 2015 9:00am Jan 20, 2015 9:00am
Little better now
Attached Image (click to enlarge)
Click to Enlarge Name: $GBPUSD (233 Tick) 1_20_2015.jpg Size: 97 KB
If you fail to plan, you plan to fail.
  • #12,107
  • Jan 20, 2015 9:01am Jan 20, 2015 9:01am
Quoting Mr. Pip
{quote} Thank you for the shout out, I will take a look and before I give you my critique I would like to tell me about your chart. What do you see? What is your bias (order flow)? Where are your opportunities?

I am still a bit confused with the definition of "order flow". Nevertheless. I am practicing your Main swing and dominate swing.. I have watched some of your videos.

So, I drew my fibs from what I think is the high and low for the main swing. The high being A, the low being B, and C retracing to just past 0.786.... and it closed above 0.786.
Well according to your DCASTFX ADVANCED PATTERNS RULE OF ENGAGEMENT ABCD... A valid ABCD should retrace between the golden ratio 0.618 and 0.786. However, I looked at the BC projection in Scott Carney's Volume one book and my C point is between 0.786 and 0.886.... So the projection for 0.886 should be 1.130. I assumed since it is halve way between 0.789 and 0.886 that it would never reach the projection of 1.27. I think measured the targets that you out lined.. A to D.. first target 0.382 and the second target 0.618. I have no open position on this, however, would this have been a valid trade even though it breaks the rules in your document for a valid ABCD pattern?
Luck has no place in trading. Leave that for the poker table.
  • #12,108
  • Jan 20, 2015 9:02am Jan 20, 2015 9:02am
I forgot to mention that it did drop slightly below a major level of support on my chart at 1200
Luck has no place in trading. Leave that for the poker table.
  • #12,109
  • Jan 20, 2015 9:05am Jan 20, 2015 9:05am
Quoting Mr. Pip
{quote} That is the pair's nickname. The name is derived from the steel cable laid under the Atlantic Ocean in 1858 to link the UK and US
Ok cool thought it might be to do with that.

Yep so as I thought I lost!! -15 pips on that trade.

Here are my 2 trades for the day so far. You can see my first trade came down to hit my SL as I moved it to BE+2 and then price went up to hit my TP at +20 pips!!

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD-20.01-t1.png Size: 27 KB


Price hit my SL then jumped up 10 pips :/
  • #12,110
  • Jan 20, 2015 10:39am Jan 20, 2015 10:39am
Finally crap BE+5
Attached Image (click to enlarge)
Click to Enlarge Name: $GBPUSD (233 Tick) 1_20_2015.jpg Size: 99 KB
If you fail to plan, you plan to fail.
  • #12,111
  • Jan 20, 2015 10:51am Jan 20, 2015 10:51am
Tired of babysitting this trade closed it for 17 and then decided to move
Attached Image (click to enlarge)
Click to Enlarge Name: $GBPUSD (233 Tick) 1_20_2015.jpg Size: 95 KB
If you fail to plan, you plan to fail.
  • #12,112
  • Jan 20, 2015 10:55am Jan 20, 2015 10:55am
Quoting Mr. Pip
Finally crap BE+5 {image}
Really important lesson though in the ability to turn things around. People think of trading like they have to be that person giving the tip to their friends about which way the market is going to move. They tie trading to being right or wrong. I feel like there is this difference that does not get talked about enough (on the outside) about ignoring right versus wrong and focusing on profitable
  • #12,113
  • Jan 20, 2015 10:58am Jan 20, 2015 10:58am
Quoting Mr. Pip
Tired of babysitting this trade closed it for 17 and then decided to move {image}
Mr Pip, what was your thought process behind going short at that level?
  • #12,114
  • Jan 20, 2015 11:08am Jan 20, 2015 11:08am
Quoting Marillionpip
{quote} Really important lesson though in the ability to turn things around. People think of trading like they have to be that person giving the tip to their friends about which way the market is going to move. They tie trading to being right or wrong. I feel like there is this difference that does not get talked about enough (on the outside) about ignoring right versus wrong and focusing on profitable
Very good point!
  • #12,115
  • Jan 20, 2015 11:11am Jan 20, 2015 11:11am
Quoting Pair-me-up
{quote} I am still a bit confused with the definition of "order flow". Nevertheless. I am practicing your Main swing and dominate swing.. I have watched some of your videos. So, I drew my fibs from what I think is the high and low for the main swing. The high being A, the low being B, and C retracing to just past 0.786.... and it closed above 0.786. Well according to your DCASTFX ADVANCED PATTERNS RULE OF ENGAGEMENT ABCD... A valid ABCD should retrace between the golden ratio 0.618 and 0.786. However, I looked at the BC projection in Scott Carney's...
Apples and oranges my friend you need to pick one and go with it. I have taken the information I learned from Harmonic Trader and made it my own. My setting are not the same as Mr. Carneys.
If you fail to plan, you plan to fail.
  • #12,116
  • Jan 20, 2015 11:17am Jan 20, 2015 11:17am
Quoting Marillionpip
{quote} Really important lesson though in the ability to turn things around. People think of trading like they have to be that person giving the tip to their friends about which way the market is going to move. They tie trading to being right or wrong. I feel like there is this difference that does not get talked about enough (on the outside) about ignoring right versus wrong and focusing on profitable
My trade had me very concerned and I was prepared to take the loss. But managing my trade meant that unless price made a NSH against me There was nothing to do but to stick around and suck on it. Patience is sometime a huge component of this business. Price struggled but never traded in an area that invalidated my reasons for engaging the market.

Trade management is just as important as trade entry!
If you fail to plan, you plan to fail.
  • #12,117
  • Jan 20, 2015 11:25am Jan 20, 2015 11:25am
Quoting Georji
{quote} Mr Pip, what was your thought process behind going short at that level?
There was good structure there at around 1.5188 almost a 1:1 completion and ratio confluence of the 127 extension of the prior move and the 138 of the 1:1. I entered on an invitation to sell because I started seeing some weakness and did not want to increase my risk. I also knew that because of the momentum and the fact that the 1:1 had not completed yet told me price could go against me a bit so I needed to be patient and give it that room.
If you fail to plan, you plan to fail.
  • #12,118
  • Jan 20, 2015 11:27am Jan 20, 2015 11:27am
Target would have been hit but didn't mind leaving that on the table. I worked hard for those 17 pips!
Attached Image (click to enlarge)
Click to Enlarge Name: $GBPUSD (233 Tick) 1_20_2015.jpg Size: 92 KB
If you fail to plan, you plan to fail.
  • #12,119
  • Jan 20, 2015 11:51am Jan 20, 2015 11:51am
Quoting Mr. Pip
{quote} There was good structure there at around 1.5188 almost a 1:1 completion and ratio confluence of the 127 extension of the prior move and the 138 of the 1:1. I entered on an invitation to sell because I started seeing some weakness and did not want to increase my risk. I also knew that because of the momentum and the fact that the 1:1 had not completed yet told me price could go against me a bit so I needed to be patient and give it that room.
thank you
  • #12,120
  • Jan 20, 2015 1:24pm Jan 20, 2015 1:24pm
Quoting Mr. Pip
Target would have been hit but didn't mind leaving that on the table. I worked hard for those 17 pips! {image}
Lol nice you won and I lost

I finished the day -13 in the end, made a couple of BE trades in the day too, one small win and a loss. I struggled a bit today as there was little movement but on to tomorrow.
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