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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

  • #12,781
  • Feb 6, 2015 5:26am Feb 6, 2015 5:26am
Quoting Masterrmind
AUDUSD -Update Interesting where price is resting with less than 10 minutes away from news. {image} Masterrmind.......... :nerd:
Be careful with aud shorts on 4hr I see an inveretd H&S pattern.
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  • #12,782
  • Feb 6, 2015 5:39am Feb 6, 2015 5:39am
Quoting c49
{quote} Be careful with aud shorts on 4hr I see an inveretd H&S pattern. {image}
Thanks c49 - yep aware of it.

Price dropped like a rock directly news related!

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Anyone catch that move?.......... couldn't get into the trade and lock in any profit before the news broke so no entry for me!

Masterrmind..........
Master your Mind then Master your Trades
  • #12,783
  • Feb 6, 2015 5:49am Feb 6, 2015 5:49am
Quoting Masterrmind
AUDUSD - Progress PA making slow progress but headed up (st OF) {image} Prefer to get into some profit before news breaks out so it may become a timing issue...lets see! Masterrmind..........
I guess this statement couldn't have been more true.

Damn the timing huh......

Masterrmind...........
Master your Mind then Master your Trades
  • #12,784
  • Edited 6:49am Feb 6, 2015 6:27am | Edited 6:49am
Taking the gold bearish break, first TP and now controlling the second, greetings.
very fast, I show second input and output,
The trigger was breaking triangle, with bearish divergence in 4H. We came from a bat D, and we were at 38%, so expect more fallen to 61%, which in turn is MS.
Greetings +200 pips.
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  • #12,785
  • Feb 6, 2015 6:36am Feb 6, 2015 6:36am
Right I thought I should walk you all through my car crash of a day!! This is hopefully to help reinforce Mr Pips teachings and hope that you learn from my mistakes.

My first setup was at 1 marked on the chart. I started at my chart around this time and quickly reviewed any possible entries. I did not take this trade although I should have. One issue I am finding is I am not trusting my reads. Maybe this comes from a bad end to yesterday. I find I hesitate on entry then miss it and wait for another.

1 was a clear entry, price spiked above the golden zone and then the next bearish candle was an initial indication and then the next one was most definitely confirmation of entry. The longer term OF was bearish so was inline with this. This should have been a 20 pip trade.

I watched the trade down and hesitated on a few more entries, then comes the biggest mess of it all!! I went with my feeling that the market had been moving down with a number of small corrections. I saw the bottom bearish candle as my indication to enter a SELL trade?? I even had drawn out the 1:1 harmonic move and a note that it was hitting a PRZ but for some reason (gut feeling!!) I traded in the wrong direction and of course lost this trade with -10 pips.

Then I was annoyed with myself and maybe should have stepped away, given myself a pep talk and then continued with the facts given to me by the chart.

So off the bottom price was retracing and hit some resistance at the 38.2% mark, there was then a stronger bear candle and I took this as entry. Clearly this was wrong and price went against me for -15 pips.

My entry was wrong as I should have had an expectation of a larger correction. Why? Well the previous swing had a retracement spiking above the 76.4% mark so therefore I should have been expecting at least a 61.8% retracement.

Trade 3 was about the only one that I can say was an okay entry. In hindsight I could have waited for a second retest in the area as the bearish candle was not all that strong really from when I entered.

The price had retraced into the golden zone and rejected it and I entered on the bearish candle. Again price went against me but as I thought price could still retrace more I had my stops close to the previous high, which proved a wise move as the price got within 0.5pips of my SL.

Price then started to come down and I moved my SL in slightly to -2 pips. I had been away from my desk at this point and price had come back slightly to my entry at the time I moved my SL. If I hadn't have done I would have got lucky and taken the news down for 30 pips but, of course my game was off so I was taken out -2.

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So I finished the day -27.

I am learning slowly and I am now using a real money account, even though I have only just started trading again. I am finding learning harder with a real money account as there is more emotion involved. I am not using big money or anything but feel that trading dummy accounts just means I am not being true to myself.

I want my trading to be as real now as when I am a massive success . I was making good profits in my dummy account so know I can do it and read the charts as per Mr Pips teachings. I just need to learn to stop being emotional about my trades, trust my reading of the chart, get my reasons for entry and place those winning trades.

Well it is Friday and things are slowing down after the big news so I think it is time to stop my trades. I am going to go and watch some of Mr Pips latest videos again to get my head straight and hope for a better week next week. I finished this week about -20 pips, so not massively bad but still I need a green week next week!!
  • #12,786
  • Feb 6, 2015 6:55am Feb 6, 2015 6:55am
USDJPY scalping trades throughout the day...........

I'm particularly fond of the short I took at the top of the flag pole......

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..........and several other small TP profit trades.

missed the AUDUSD trade setup but its great to keep the skill set sharp for next time.......

will probably scalp a few more pips over the next 30 mins or so and call it a week

Have a great weekend everyone..........looking forward to a "normal" week next week...

Good trading,

Masterrmind...........
Master your Mind then Master your Trades
  • #12,787
  • Feb 6, 2015 7:10am Feb 6, 2015 7:10am
Quoting PipTrendz
Right I thought I should walk you all through my car crash of a day!! This is hopefully to help reinforce Mr Pips teachings and hope that you learn from my mistakes. My first setup was at 1 marked on the chart. I started at my chart around this time and quickly reviewed any possible entries. I did not take this trade although I should have. One issue I am finding is I am not trusting my reads. Maybe this comes from a bad end to yesterday. I find I hesitate on entry then miss it and wait for another. 1 was a clear entry, price spiked above the golden...
Very good reflection on your days trading PipTrendz............

Masterrmind............
Master your Mind then Master your Trades
  • #12,788
  • Feb 6, 2015 8:02am Feb 6, 2015 8:02am
Quoting pampaq
+200 pips.
You are like a machine, sir!
  • #12,789
  • Feb 6, 2015 8:06am Feb 6, 2015 8:06am
Quoting pampaq
Taking the gold bearish break, first TP and now controlling the second, greetings. very fast, I show second input and output, The trigger was breaking triangle, with bearish divergence in 4H. We came from a bat D, and we were at 38%, so expect more fallen to 61%, which in turn is MS. Greetings +200 pips. {image} {image} {image} {image}
Arriving at TP of 61%. regards
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  • #12,790
  • Feb 6, 2015 8:18am Feb 6, 2015 8:18am
Quoting Masterrmind
{quote} Very good reflection on your days trading PipTrendz............ Masterrmind............
Yeah I think that following the results of the day it needed a postmortem to remind myself of where I went wrong and to trust my reading of the charts.

Actually was -32 pips for the week and most of that came from today.

Have a good weekend all.
  • #12,791
  • Feb 6, 2015 8:24am Feb 6, 2015 8:24am
Quoting PipTrendz
Right I thought I should walk you all through my car crash of a day!! This is hopefully to help reinforce Mr Pips teachings and hope that you learn from my mistakes. My first setup was at 1 marked on the chart. I started at my chart around this time and quickly reviewed any possible entries. I did not take this trade although I should have. One issue I am finding is I am not trusting my reads. Maybe this comes from a bad end to yesterday. I find I hesitate on entry then miss it and wait for another. 1 was a clear entry, price spiked above the golden...
My two cents, I do not use 3M, so use your chart completed the 1to1 bearish, we seek to enter long, for which, when broken downtrend line, after having made a failed re testing (RF), we long, aggressively.
After HH, expect less support, and a bullish candle pattern, and there again long. until HH leaving a pattern candle with TT.
Real expectations of TP, is a good way to take profits that the market gives us.
Greetings, and thanks for the great job you're doing, we all learn from each other.
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  • #12,792
  • Feb 6, 2015 8:27am Feb 6, 2015 8:27am
Quoting PipTrendz
{quote} Yeah I think that following the results of the day it needed a postmortem to remind myself of where I went wrong and to trust my reading of the charts. Actually was -32 pips for the week and most of that came from today. Have a good weekend all.
I hope you have a well rested weekend and come back with renewed energy and enthusiasm.

All the best to you and thanks again for sharing your thoughts.

Masterrmind...........
Master your Mind then Master your Trades
  • #12,793
  • Feb 6, 2015 8:47am Feb 6, 2015 8:47am
Quoting pampaq
{quote} My two cents, I do not use 3M, so use your chart completed the 1to1 bearish, we seek to enter long, for which, when broken downtrend line, after having made a failed re testing (RF), we long, aggressively. After HH, expect less support, and a bullish candle pattern, and there again long. until HH leaving a pattern candle with TT. Real expectations of TP, is a good way to take profits that the market gives us. Greetings, and thanks for the great job you're doing, we all learn from each other. {image}
Thanks for your feedback.

Yeah I know that is what I should have done, I was going against all the rules so was sure to fail. I know if I would have followed my rules I would have taken my entry around where you marked your aggressive entry and taken profit at the 61.8 for about 20 pips.

Personally I do not really make a second trade if I still have one open. Are you just trading any entry you see and ignoring that you already have a trade open?

Nice trade on gold btw you seem to always be making lots of pips, I am jealous.

Quoting Masterrmind
{quote} I hope you have a well rested weekend and come back with renewed energy and enthusiasm. All the best to you and thanks again for sharing your thoughts. Masterrmind...........
Yeah I am still enthusiastic about it all as this is only week 3 trading so still learning, mainly to control my emotions and turn them off when trading. Not sure the 3 cups of coffee helped in that regard!!
  • #12,794
  • Feb 6, 2015 9:22am Feb 6, 2015 9:22am
Quoting PipTrendz
{quote} Thanks for your feedback. Yeah I know that is what I should have done, I was going against all the rules so was sure to fail. I know if I would have followed my rules I would have taken my entry around where you marked your aggressive entry and taken profit at the 61.8 for about 20 pips. Personally I do not really make a second trade if I still have one open. Are you just trading any entry you see and ignoring that you already have a trade open? Nice trade on gold btw you seem to always be making lots of pips, I am jealous. {quote}...
If you operate in your 2% of the account, and that was, say $ 100, and sl, was 20 Pips, your lot would be 0.5, so it could get 0.2 lots, at the beginning, aggressive, and then 0.3, when you already have a confirmed uptrend.
So with the same risk, you're going when you're safer.
regards
  • #12,795
  • Feb 6, 2015 9:56am Feb 6, 2015 9:56am
Quoting pampaq
{quote} If you operate in your 2% of the account, and that was, say $ 100, and sl, was 20 Pips, your lot would be 0.5, so it could get 0.2 lots, at the beginning, aggressive, and then 0.3, when you already have a confirmed uptrend. So with the same risk, you're going when you're safer. regards
Okay, yeah that makes sense, thanks for clarifying.
  • #12,796
  • Feb 6, 2015 9:57am Feb 6, 2015 9:57am
Quoting pampaq
{quote} If you operate in your 2% of the account, and that was, say $ 100, and sl, was 20 Pips, your lot would be 0.5, so it could get 0.2 lots, at the beginning, aggressive, and then 0.3, when you already have a confirmed uptrend. So with the same risk, you're going when you're safer. regards
Account should be 1000 $ (not 100 $ )
0.1 lot = 10.000 $ equals 1 $/pip
So with a risk of 20pips = 20 $ your maximum size would be 10.000 $ and not 0.5 lot = 50.000 $
  • #12,797
  • Feb 6, 2015 10:23am Feb 6, 2015 10:23am
Quoting PipTrendz
{quote} Thanks for your feedback. Yeah I know that is what I should have done, I was going against all the rules so was sure to fail. I know if I would have followed my rules I would have taken my entry around where you marked your aggressive entry and taken profit at the 61.8 for about 20 pips. Personally I do not really make a second trade if I still have one open. Are you just trading any entry you see and ignoring that you already have a trade open? Nice trade on gold btw you seem to always be making lots of pips, I am jealous. {quote}...
Despite the huge mmtum, bassist gold, lost $ 30 so far, I place this trade, to exemplify or you said the turnaround. Of course, here the trend is bearish and strength, however, if it works in this case, always work when there are bullish strength.
Breaking the downtrend line means nothing more than a warning.
The RF is the one that prepares you to observe more closely there may be a reversal.
HL good sign, but the LPB, indicates that the trend is down, until it breaks to the upside, this pivot.
We now an HH, which then allow HL, and there see if reached or breaks upward OLP.
If it breaks we are in a turnaround IN THIS TF, which as a rule will rise to the MM21 1H, red.
In this example, only valid to display the topic, we are waiting to give us a new HH. and then evaluated.
regards
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  • #12,798
  • Feb 6, 2015 3:36pm Feb 6, 2015 3:36pm
Quoting pampaq
{quote} Despite the huge mmtum, bassist gold, lost $ 30 so far, I place this trade, to exemplify or you said the turnaround. Of course, here the trend is bearish and strength, however, if it works in this case, always work when there are bullish strength. Breaking the downtrend line means nothing more than a warning. The RF is the one that prepares you to observe more closely there may be a reversal. HL good sign, but the LPB, indicates that the trend is down, until it breaks to the upside, this pivot. We now an HH, which then allow HL, and there...
Track entry when there is strong mmtum, and reach an area of MR or MS, as in this case, usually, we have a complete pullback. ie ABCD. That is nothing, that zig zag correction (70% of the time), and then returns to the main trend. In this case D if D is accelerated, high probability of breaking the MS. If this D is weak, high probability of success that the price returns.
And that's what we tested.
In this case, it would have been very cautious, taking some 30 Pips, which gave the trade, as this is an example, I leave it running.
In short, we break the downtrend line, first warning, then RF and HL first is B, then hopefully an HH., HL and HH two swings, take profits, and control.
Making a LL is a warning, that the price can go back and re test, the LOW, where is the sl.
Finally we continue to learn, Mr Pip, Greetings
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  • #12,799
  • Feb 6, 2015 3:53pm Feb 6, 2015 3:53pm
Quoting c49
{quote} Account should be 1000 $ (not 100 $ ) 0.1 lot = 10.000 $ equals 1 $/pip So with a risk of 20pips = 20 $ your maximum size would be 10.000 $ and not 0.5 lot = 50.000 $
Account 5000 (In USD), 2% = $ 100, sl = 20 pips, lot 0.5.
If I lose my sl 20 pips, 0.1 lot = $ 20, 0.5 lot = $ 100, this would be in the XAUUSD.
regards
  • #12,800
  • Feb 8, 2015 12:02pm Feb 8, 2015 12:02pm
We are monitoring this pair since last week, we have a 1to1W with a candlestick pattern BT daily which makes us think of a likely bounce higher, HOWEVER in M, we do not see an area of MS, so this stop would be in the air, that would be building its own support in W and D.
He has left a doji of indecision, which closed in the maxima of the previous candle. to break higher, we will go to 38% of 1to1, and to break down, have a great void price until next support zone will see, greetings.
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