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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

  • #12,901
  • Feb 10, 2015 7:39am Feb 10, 2015 7:39am
Quoting honestknave
{quote} Well it's running out of chances before I close it If there hadn't been such a marked decrease in momentum running into the BE point I would have closed it out already. {image}
Closed out +13 pips
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  • #12,902
  • Feb 10, 2015 7:50am Feb 10, 2015 7:50am
Quoting honestknave
{quote} Closed out +13 pips {image}
Glad you got out on top of that one!! I have been watching the EU and Cable for the last few hours and not got a trade in, seems to be very stuck in a range and I am not the type of trader to scalp a few pips as it could have been done.
  • #12,903
  • Edited 8:23am Feb 10, 2015 7:55am | Edited 8:23am
Quoting PipTrendz
{quote} Glad you got out on top of that one!! I have been watching the EU and Cable for the last few hours and not got a trade in, seems to be very stuck in a range and I am not the type of trader to scalp a few pips as it could have been done.
Yeah, its difficult today. I'm having to pull all the tools out the bag!
Back in short again... need to clean up the chart before I post as it has lots of verboten on it
Edit: nevermind - BE!
  • #12,904
  • Feb 10, 2015 8:05am Feb 10, 2015 8:05am
Well I didn't trade again and finished +26 for the day.

One annoying end was I had been waiting for the Cable to break the barrier at 1.5240 all day to do long and as soon as my boy got dropped off (literally on that candle!!) it breaks it and goes up. Oh well still a green day and that is my best day in nearly a week so cannot be anything but happy with today.

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  • #12,905
  • Feb 10, 2015 8:16am Feb 10, 2015 8:16am
Expecting one shark attack here.
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  • #12,906
  • Feb 10, 2015 3:37pm Feb 10, 2015 3:37pm
Hi Mr. Pips. I really appreciate what you are sharing with us.. Its really valuable. Thanks

I have a question.
Should we move our take profit targets according to our entry point or the highest high set
Forgive me if the question has been asked before..
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thanks

regards, René
  • #12,907
  • Feb 10, 2015 3:54pm Feb 10, 2015 3:54pm
Personally, I believe fibs must be drawn from clear and obvious points. Our entry points are quite arbitrary in the big scheme of things... Sometimes we enter early, sometimes late. So we can't expect price to respect a fib drawn from a clear and obvious point to a second, random spot where we happened to enter a trade.

If I enter early and price moves against me forming a higher high or a lower low, I redraw the fib.

Just my take on things, hope it helps.
  • #12,908
  • Feb 10, 2015 4:08pm Feb 10, 2015 4:08pm
Quoting Masterrmind
{quote} I've thrown on one trade with a fairly wide SL so I'll let it run while I sleep which is getting closer I must say. The EU has just been trading up and down inside about an 80 pip range. To be any good to me I need it to drop another 80 pips (H1 analysis) I don't see that happening while I'm awake so I'll pass. Good luck with your EA trade............ At least its looking reasonable at the moment as it hasn't kept storming up hard (its backed off somewhat so that's good) Masterrmind............
EA trade UPDATE (trade put on yesterday)

Price has moved as anticipated to the down side

Currently +20 pips at the moment with a TP set at the C level (as always PA of this pair will be watched and the trade managed accordingly)

EURAUD (H1 chart)

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Masterrmind.............
Master your Mind then Master your Trades
  • #12,909
  • Feb 10, 2015 4:16pm Feb 10, 2015 4:16pm
Quoting honestknave
Personally, I believe fibs must be drawn from clear and obvious points. Our entry points are quite arbitrary in the big scheme of things... Sometimes we enter early, sometimes late. So we can't expect price to respect a fib drawn from a clear and obvious point to a second, random spot where we happened to enter a trade. If I enter early and price moves against me forming a higher high or a lower low, I redraw the fib. Just my take on things, hope it helps.
Correct!

Masterrmind...........
Master your Mind then Master your Trades
  • #12,910
  • Feb 10, 2015 4:25pm Feb 10, 2015 4:25pm
Rejection MR, and Coming in from line break in trend and pivot reference, Greetings +25 pips.
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  • #12,911
  • Feb 10, 2015 4:42pm Feb 10, 2015 4:42pm
Quoting BrasilForex
Expecting one shark attack here. {image}
Very good your post,if I have seen it before, I would have let profits run, haha, greetings and are in contact.
Maradona is better than Pele. brincadeira, Greetings
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  • #12,912
  • Feb 10, 2015 6:59pm Feb 10, 2015 6:59pm
Quoting Masterrmind
{quote} EA trade UPDATE (trade put on yesterday) Price has moved as anticipated to the down side Currently +20 pips at the moment with a TP set at the C level (as always PA of this pair will be watched and the trade managed accordingly) EURAUD (H1 chart) {image} Masterrmind.............
Hey Masterrmind, Hope your well.

I missed trailing my stop for a B.E. trade by 6 pips, the bulls are currently a little unforgiving. I am looking at the hrly chart and there is a descending TL that if broken could bring those bulls out. The candle is about to complete so lets see if closes above or below, I may close for a slight loss if it closes above (looks ok for another hour though).
As the lights go by so too do the shadows move
  • #12,913
  • Feb 10, 2015 7:16pm Feb 10, 2015 7:16pm
Quoting Matts Micro
{quote} Hey Masterrmind, Hope your well. I missed trailing my stop for a B.E. trade by 6 pips, the bulls are currently a little unforgiving. I am looking at the hrly chart and there is a descending TL that if broken could bring those bulls out. The candle is about to complete so lets see if closes above or below, I may close for a slight loss if it closes above (looks ok for another hour though).
If "X" gets taken out then I'd be more concerned.

But it really depends on how the trade is being managed (especially in terms of SL placement and it's control).

I'm prepared to give this trade plenty of breathing space because there could be some jumps (UP or DOWN) later in the trading day.

It's currently at an interesting juncture.

Anyway I'll analyze some other pairs now and see if anything looks worthwhile.

Good trading,

Masterrmind............
Master your Mind then Master your Trades
  • #12,914
  • Feb 10, 2015 7:38pm Feb 10, 2015 7:38pm
Quoting Masterrmind
{quote} If "X" gets taken out then I'd be more concerned. But it really depends on how the trade is being managed (especially in terms of SL placement and it's control). I'm prepared to give this trade plenty of breathing space because there could be some jumps (UP or DOWN) later in the trading day. It's currently at an interesting juncture. Anyway I'll analyze some other pairs now and see if anything looks worthwhile. Good trading, Masterrmind............
I have hedged my trade on the BO on the topside, risk 10 pips.
As the lights go by so too do the shadows move
  • #12,915
  • Feb 10, 2015 7:49pm Feb 10, 2015 7:49pm
@Moretti (Quote button not working for some reason)

Always draw the fib from price. Your entry has no influence on the market so the levels are irrelevant.
As the lights go by so too do the shadows move
  • #12,916
  • Feb 10, 2015 8:22pm Feb 10, 2015 8:22pm
Quoting Matts Micro
{quote} I have hedged my trade on the BO on the topside, risk 10 pips.
Out. Cowardly bulls took the 30 min candle but retreated for the hrly close. Still may go up and this has a smell of a stop hunt but wasn't willing to increase risk.
As the lights go by so too do the shadows move
  • #12,917
  • Feb 10, 2015 8:51pm Feb 10, 2015 8:51pm
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
Well, I had some really good trades in January and a great month overall, so I thought I "got it" and was expecting to do even better this month, but so far February has been awful for me, just a string of losses. It's made me question whether my foundation is even there, so I've taken a break from trading (er, for the most part!) and have been re-reading and studying this thread.

After some days of this, I think I am clear on the basic concepts, at least in an abstract sense, but need more practice and experience implementing them live in a consistent way. I may go back to trading soon and will start posting charts again when I do.

Thanks to those of you who are keeping the thread going!
  • #12,918
  • Feb 10, 2015 9:00pm Feb 10, 2015 9:00pm
Quoting Matts Micro
{quote} Out. Cowardly bulls took the 30 min candle but retreated for the hrly close. Still may go up and this has a smell of a stop hunt but wasn't willing to increase risk.
I'm still in the trade and added to my position (3 trades)...........

Net +ve at present......

Masterrmind..........
Master your Mind then Master your Trades
  • #12,919
  • Feb 10, 2015 9:27pm Feb 10, 2015 9:27pm
Quoting Masterrmind
{quote} I'm still in the trade and added to my position (3 trades)........... Net +ve at present...... Masterrmind..........
I'm still in my short, it was just a failed BO of my long scalp that was stopped out. The short is beginning to look quite good on the longer term charts as long as current levels holds.
As the lights go by so too do the shadows move
  • #12,920
  • Feb 10, 2015 9:32pm Feb 10, 2015 9:32pm
Quoting Matts Micro
{quote} I'm still in my short, it was just a failed BO of my long scalp that was stopped out. The short is beginning to look quite good on the longer term charts as long as current levels holds.
Yes with 3 positions on now the trade is looking really good.

Provided the bears do most of the driving of course but I'm happy with the trade.

I could close all 3 positions right now for about 40 pips...so all is going well.

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Masterrmind...........
Master your Mind then Master your Trades
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