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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

  • #12,861
  • Feb 10, 2015 5:45am Feb 10, 2015 5:45am
Quoting Masterrmind
{quote} No you don't it's all about convincing yourself that the analysis makes logical sense. Great job! I'm looking at an M5 TF and looking at shorting it down for 10-15 pips or so within the yellow marked channel. Your up another 45 pips from current price so my little TP won't affect you at all since price wouldn't have reached your PRZ just yet! Unless of course price keeps going down but we won't know the answer to that just yet........... Masterrmind...........
Yeah convincing yourself is all part of the job heh.

Like a lot of "perfect setups though, I've noticed that they often don't confirm. It will be interesting to see if this plays out (hopefully in my business hrs)

I saw a few minutes ago that it has quite a range. I see where your at with your scalp, that double top has potential. GL
As the lights go by so too do the shadows move
  • #12,862
  • Feb 10, 2015 5:47am Feb 10, 2015 5:47am
Quoting honestknave
Am I imagining it, or has the thread dried up lately? I wonder what the reason is... if any of you are watching but no longer posting please let us know In the meantime, I'm going to stop posting trades with trend lines, pivot points, alternative AB=CD or any of the other 'off topic' techniques I use in case I've being creating any confusion. I'll keep my posts true to the spirit of the thread
Yeah its a pity ...............

This thread has such great potential but not if there are no participants...........

The ones here that are posting will eventually get worn out from trying to keep the thread moving.........

Hope that changes because traders can learn a lot here and it is very useful material!

Anyway as I was............. trading away!

Good trading,

Masterrmind............
Master your Mind then Master your Trades
  • #12,863
  • Feb 10, 2015 5:51am Feb 10, 2015 5:51am
Quoting Matts Micro
{quote} Yeah convincing yourself is all part of the job heh. Like a lot of "perfect setups though, I've noticed that they often don't confirm. It will be interesting to see if this plays out (hopefully in my business hrs) I saw a few minutes ago that it has quite a range. I see where your at with your scalp, that double top has potential. GL
That's one reason why MrP put the big gartleys, bats and crabs on the back burner due mainly to the fact that they take some time to unfold and then the pattern might fail.

That's why he chases the PA and OF in smaller trends.

Looks like he does just fine by the way too!

If the trade looks like a good setup for a few pips then I'll load up on it a little....... :nerd:

Masterrmind............
Master your Mind then Master your Trades
  • #12,864
  • Feb 10, 2015 6:00am Feb 10, 2015 6:00am
Made a couple of trades so far today, not massive gains but both green pips.

First trade was short on the EU and the previous swing touched into the golden zone. One issue I find with these small swings is that if the initial candle is big then your R/R is greatly increased as you get a worse entry. So I entered anyway, looking for a 1:1 completion to the 1.1270 mark.

Price, as it always seems to, went against me initially and tested the golden zone of the main swing again. A better entry would have been at the bear candle that I have circled. Price came back down and now I was expecting a possible retest of the previous low but price was breaking down so did not expect a LL. Price got down to slight profit and based on my expectation of it struggling to make a LL I manually exited for 3 pips. Happy to get out in the green as price was breaking down and may be looking to move up (may be a trade in the future, will have to wait and watch).

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD-10.02-t1.png Size: 39 KB


My next trade was a little bit after this trade started so had 2 running at once

The cable hit the previous high and reacted going down so took this as an entry. I was expecting price to reach the 61.8 of the last swing. Price went with me from the off and then seemed to go slow near where I got out. I did have my TP at the 61.8 giving about 15 pips but then got nervous of the price seeming to slow a little, maybe because I was watching it intently!!

Price eventually took my adjusted TP and gained 11 pips, could have been 15 but happy to be out, plus I wanted a snack

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD-10.02-t2.png Size: 40 KB


I also missed an entry to go long on the cable at the red circle. I think a lack of confidence stopped me and by the time I had processed it price had moved too much. A lot of confluence there too, RN, Support area and a 1:1 harmonic completion. That could have been another 15-20 pips there too.

Happy with my 14 pips so far today, hoping for another trade or 2 in the green to finish off my day now.
  • #12,865
  • Feb 10, 2015 6:06am Feb 10, 2015 6:06am
Quoting Matts Micro
There are many books about how to trade but imo what makes a profitable trader is one that doesn't trade the what I call the "Umm's or Maybe's". Filter out the potentially risky trades from a system and it could improve performance twice fold... which is the name of the game I spose
Very true!

Quoting PipTrendz
Made a couple of trades so far today, not massive gains but both green pips.
Nice write up, thanks

Quoting Masterrmind
{quote} Yeah its a pity ............... This thread has such great potential but not if there are no participants........... The ones here that are posting will eventually get worn out from trying to keep the thread moving......... Hope that changes because traders can learn a lot here and it is very useful material!
You're right about the potential... let's hope the thread manages to stay alive. A shame that Mr. Pip no longer seems to be posting
  • #12,866
  • Feb 10, 2015 6:09am Feb 10, 2015 6:09am
Quoting Masterrmind
{quote} That's one reason why MrP put the big gartleys, bats and crabs on the back burner due mainly to the fact that they take some time to unfold and then the pattern might fail. That's why he chases the PA and OF in smaller trends. Looks like he does just fine by the way too! If the trade looks like a good setup for a few pips then I'll load up on it a little....... :nerd: Masterrmind............
I agree, they take time. The ABCD pattern is good with two areas to trade at (C and D) and if the time frame/volatility is right it can keep things going.

I've put the st order flow on the back burner for the moment. It is a skill I really want to master and it would be great if I could read it half as good as Mr Pip does but at the same time I need to make a few pips. I have a Demo account and on quite days I practice, though been a bit today. I've got to page 200 on the thread but still some ground to cover but I think it's more about practicing. My own trading method took some time hone and I imagine it will take some months before the st order flow starts to click with me.
As the lights go by so too do the shadows move
  • #12,867
  • Feb 10, 2015 6:13am Feb 10, 2015 6:13am
Quoting PipTrendz
Made a couple of trades so far today, not massive gains but both green pips. First trade was short on the EU and the previous swing touched into the golden zone. One issue I find with these small swings is that if the initial candle is big then your R/R is greatly increased as you get a worse entry. So I entered anyway, looking for a 1:1 completion to the 1.1270 mark. Price, as it always seems to, went against me initially and tested the golden zone of the main swing again. A better entry would have been at the bear candle that I have circled. Price...
Good trades WD.

I noticed that the candles move fast sometimes while waiting for confirmation on the tick charts too. I sometimes used the 1m for entry with the same candle analysis at my zones.
As the lights go by so too do the shadows move
  • #12,868
  • Feb 10, 2015 6:15am Feb 10, 2015 6:15am
Quoting Masterrmind
{quote} That's one reason why MrP put the big gartleys, bats and crabs on the back burner due mainly to the fact that they take some time to unfold and then the pattern might fail. That's why he chases the PA and OF in smaller trends. Looks like he does just fine by the way too! If the trade looks like a good setup for a few pips then I'll load up on it a little....... :nerd: Masterrmind............
Red news just hit (EZ), hope your were covered
As the lights go by so too do the shadows move
  • #12,869
  • Feb 10, 2015 6:16am Feb 10, 2015 6:16am
Quoting honestknave
Am I imagining it, or has the thread dried up lately? I wonder what the reason is... if any of you are watching but no longer posting please let us know In the meantime, I'm going to stop posting trades with trend lines, pivot points, alternative AB=CD or any of the other 'off topic' techniques I use in case I've being creating any confusion. I'll keep my posts true to the spirit of the thread
Yeah it has most certainly dried up a bit. Some people maybe not trading as much or just not posting.

Probably best to keep out any of the stuff Mr Pip has not taught as it can confuse (did to me before lol!!).

Hoping Mr Pip will be back sooner rather than later but I think there is more than enough info on the thread to learn and master the techniques here.
  • #12,870
  • Feb 10, 2015 6:21am Feb 10, 2015 6:21am
Quoting Matts Micro
{quote} Red news just hit (EZ), hope your were covered
Yeah I noticed that, thought someone important somewhere must have said something. I had just entered into a trade and luckily was in the right direction of it. I saw the EU also and nearly entered but price took off as I was looking at it. Anyway my trade...

Entered long on the cable as price had hit the golden zone of the previous swing and had stalled so I was waiting for confirmation to enter, That came with the larger bull candle and I entered, rode the news and had my TP just under the previous high, knowing the cable likes to range from what I am seeing during the day.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD-10.02-t3.png Size: 43 KB


Now seems a good time to get some lunch and let the markets settle a little before looking for another trade. Another 12 pips puts me +26 for the day.
  • #12,871
  • Feb 10, 2015 6:30am Feb 10, 2015 6:30am
Quoting PipTrendz
Probably best to keep out any of the stuff Mr Pip has not taught as it can confuse (did to me before lol!!). Hoping Mr Pip will be back sooner rather than later but I think there is more than enough info on the thread to learn and master the techniques here.
Yes, sorry about that
Here is a 'traditional' short opportunity on EURUSD that I missed.
Attached Image (click to enlarge)
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  • #12,872
  • Feb 10, 2015 6:31am Feb 10, 2015 6:31am
Quoting honestknave
{quote} Very true! {quote} Nice write up, thanks {quote} You're right about the potential... let's hope the thread manages to stay alive. A shame that Mr. Pip no longer seems to be posting
He did say awhile back that he may not always be around.

Masterrmind........
Master your Mind then Master your Trades
  • #12,873
  • Feb 10, 2015 6:38am Feb 10, 2015 6:38am
Quoting Matts Micro
{quote} Red news just hit (EZ), hope your were covered
Been in EA

3 trades in the short mode..

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 30 KB


All is good!

Masterrmind.............
Master your Mind then Master your Trades
  • #12,874
  • Feb 10, 2015 6:55am Feb 10, 2015 6:55am
And then the 3 EURAUD (M5 chart) trades closed for +38 pips

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 28 KB


Masterrmind............
Master your Mind then Master your Trades
  • #12,875
  • Feb 10, 2015 7:03am Feb 10, 2015 7:03am
Quoting Masterrmind
And then the 3 EURAUD (M5 chart) trades closed for +38 pips {image} Masterrmind............
Lol you did go aggressive, nice work
  • #12,876
  • Feb 10, 2015 7:05am Feb 10, 2015 7:05am
Quoting PipTrendz
{quote} Lol you did go aggressive, nice work
Yes indeed!

Another flag pole none less.....

Masterrmind.............
Master your Mind then Master your Trades
  • #12,877
  • Feb 10, 2015 7:32am Feb 10, 2015 7:32am
Long EURAUD +29 pips up the long side from 2 trades both to TP

Reading PA .........

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 29 KB


Masterrmind.........
Master your Mind then Master your Trades
  • #12,878
  • Feb 10, 2015 7:36am Feb 10, 2015 7:36am
@Matts

EA closing in on your PRZ fast as price just made a break up.

only 15 pips shy of target.

I will short it with glory if it gets there...hope you see it.

Good trading,

Masterrmind.........
Master your Mind then Master your Trades
  • #12,879
  • Feb 10, 2015 7:50am Feb 10, 2015 7:50am
Possible shorting opportunity on EURAUD (Matts I hope your watching your trade)

Price has pushed up nicely and almost at the PRZ but not quite.

EA (H1 chart)

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 35 KB


Masterrmind...........
Master your Mind then Master your Trades
  • #12,880
  • Feb 10, 2015 7:51am Feb 10, 2015 7:51am
Quoting Masterrmind
@Matts EA closing in on your PRZ fast as price just made a break up. only 15 pips shy of target. I will short it with glory if it gets there...hope you see it. Good trading, Masterrmind.........
Hey Mastermind yeah I'm still here. Congrats on your trades, awesome trading

I've been a little preoccupied but haven't stopped watching that EA chart. I wanted to long the UCAD too but 20 pip 5m candles has opened too much volatility.

EA hit the 127ext of CB, hopefully it hasn't quite run out of juice yet. I'm a little cautious of this market, there is a bit going on atm. That said I'm still waiting for that aggressive entry.
Attached Image (click to enlarge)
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As the lights go by so too do the shadows move
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