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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

  • #14,521
  • Oct 16, 2015 10:27am Oct 16, 2015 10:27am
Quoting Mack2013
good morning took this small 1 to 1 on L/T order flows PB to structure. Initial target is a retest of lows but if momentum increases i'll be extending targets too around 1.1315. I'm a little worried about the strength in some of the bull bars but the swing overall looks weak (Edited: a little stronger then previous bull swing tho uhmmmm. Maybe I didn't think this one all the way through) {image} Edit: Damn, Stopped out for -10 pips. Initial stops were -14 but choked them up a bit. Reason being, if it made a new short term high and the bull strength...
Hi Mack, very slim pickings for me today.

I also tried to short EU, but a bit earlier on. Ended up scratch.

My tick chart looks totally different today to the time-based chart so I've tried to pick out your entry.
I actually gave up and went to sleep after my BE but I can see that there was a 1:1 later on, but I would have turned it down because of the strength running into the completion (although it was confluent with a 50fib from the London open and a smaller scale overexpansion).

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  • #14,522
  • Oct 16, 2015 10:45am Oct 16, 2015 10:45am
Long on the EU... not sure if it will turn a drought into a famine today

Golden zone retracement, backed up with a RN and a couple of AB=CD patterns.

A few hurdles to get through first, but it is in line with the bullish order flow since NY opened.

Stop will be below the 78.6.

Target is ambitiously set at 1.14 round number as there is some confluence I'm interested in beyond it.

But I don't know how much steam is left in the market on a Friday afternoon and as I said, there are quite a number of obstacles between here and there.
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  • #14,523
  • Oct 16, 2015 11:25am Oct 16, 2015 11:25am
Quoting honestknave
Long on the EU... not sure if it will turn a drought into a famine today Golden zone retracement, backed up with a RN and a couple of AB=CD patterns. A few hurdles to get through first, but it is in line with the bullish order flow since NY opened. Stop will be below the 78.6. Target is ambitiously set at 1.14 round number as there is some confluence I'm interested in beyond it. But I don't know how much steam is left in the market on a Friday afternoon and as I said, there are quite a number of obstacles between here and there. {image}
I'm with you on this one. stops already at B/E. I'll be looking to close it out by the end of the day tho
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  • #14,524
  • Oct 16, 2015 11:38am Oct 16, 2015 11:38am
Quoting Mack2013
{quote} I'm with you on this one. stops already at B/E. I'll be looking to close it out by the end of the day tho {image}
Looks like you got the safer entry (I came close to a stop) - good job

I won't be holding over the weekend either.

I'm happier now it's over that trend line
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  • #14,525
  • Oct 16, 2015 11:40am Oct 16, 2015 11:40am
Quoting honestknave
{quote} Hi Mack, very slim pickings for me today. I also tried to short EU, but a bit earlier on. Ended up scratch. My tick chart looks totally different today to the time-based chart so I've tried to pick out your entry. I actually gave up and went to sleep after my BE but I can see that there was a 1:1 later on, but I would have turned it down because of the strength running into the completion (although it was confluent with a 50fib from the London open and a smaller scale overexpansion). {image}
your tick charts are much nicer to evaluate strength and weakness. tried converting but my platform only supports 50 ticks. that's to fast for me
  • #14,526
  • Oct 16, 2015 11:42am Oct 16, 2015 11:42am
Quoting honestknave
{quote} Looks like you got the safer entry (I came close to a stop) - good job I won't be holding over the weekend either. I'm happier now it's over that trend line {image}
Thanks. I caught it at the last second. it snapped back pretty fast
  • #14,527
  • Oct 16, 2015 11:52am Oct 16, 2015 11:52am
Quoting Mack2013
{quote} your tick charts are much nicer to evaluate strength and weakness. tried converting but my platform only supports 50 ticks. that's to fast for me
Yeah, I really can't get on with time based charts but annoyingly tick charts aren't well supported on most platforms

The best I've used was NinjaTrader, but I've been back with MT4 for quite a while now for various reasons.

I liked cTrader, but when I last used it the only option was 55 ticks which I agree is too quick, at least for my taste
  • #14,528
  • Oct 16, 2015 11:52am Oct 16, 2015 11:52am
Quoting Mack2013
{quote} Thanks. I caught it at the last second. it snapped back pretty fast
  • #14,529
  • Oct 19, 2015 5:46pm Oct 19, 2015 5:46pm
Hey guys,

Good to see the thread still hanging on in there!!

I have been really busy with working for my father-in-law, and normally pretty tired by the end of the day. That said I am really itching to get back into doing some trades. Been thinking about it for a month now so it is about time to play with some dummy trades to find my best strategy.

I will only have a short time in the morning before work (about 20-30 mins), plus about an hour or so at the end of the day (6pm-7pm), all GMT.

I have been putting lots of thought into how I will make this work for me. I remember from my last attempt at trading that I was forcing trades a lot, and therefore losing trades. So for the start I will make sure I get FULL validation on my rules (that I will need to refresh myself on) and only trade when they are met.

I will also scrap all targets. This is a little against my sales/targeted background but I know that the targets are part of what pushes me into trades when I am not getting the right validation. My only targets will be to enter and exit according to my trade plan. This way I should hit profits, no matter how small it will be a win.

Hope you are all well and getting green pips?
  • #14,530
  • Oct 20, 2015 3:59am Oct 20, 2015 3:59am
Quoting PipTrendz
Hey guys, Good to see the thread still hanging on in there!! I have been really busy with working for my father-in-law, and normally pretty tired by the end of the day. That said I am really itching to get back into doing some trades. Been thinking about it for a month now so it is about time to play with some dummy trades to find my best strategy. I will only have a short time in the morning before work (about 20-30 mins), plus about an hour or so at the end of the day (6pm-7pm), all GMT. I have been putting lots of thought into how I will make...
Good to see you back PipTrendz

It's been an odd week so far. Had a great Monday morning. After that, watched 2 trades pass me by with my finger hovering over the trade button but never pressed, only to see them move into great profit with basically no drawdown. I then entered a really marginal trade this morning that hit SL, probably fuelled by frustration.

Ah well, still in the green for the week so I can't complain. Hopefully today brings some more opportunities. Plus the occasional burn is always a good reminder to stay focused and keep the psychology in check.

Good luck with your fresh trading plan
  • #14,531
  • Oct 20, 2015 9:57am Oct 20, 2015 9:57am
Long GU... let's see if we can break today's BE streak (4 in a row after this morning's SL)

Chart to follow
  • #14,532
  • Oct 20, 2015 11:21am Oct 20, 2015 11:21am
Quoting honestknave
Long GU... let's see if we can break today's BE streak (4 in a row after this morning's SL) Chart to follow
Nope, 5th BE in a row
Chart isn't much to look at, but I said I would post it:
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  • #14,533
  • Oct 20, 2015 11:30am Oct 20, 2015 11:30am
Some days just don't work out too well.
Everything I turned down came up trumps, and most of my BE's would have run into profit.
When I entered that GU long, it was a toss up between that and EU. I turned down the EU and took the GU. This is how the EU would have played out...
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  • #14,534
  • Oct 20, 2015 5:56pm Oct 20, 2015 5:56pm
Quoting honestknave
{quote} Good to see you back PipTrendz It's been an odd week so far. Had a great Monday morning. After that, watched 2 trades pass me by with my finger hovering over the trade button but never pressed, only to see them move into great profit with basically no drawdown. I then entered a really marginal trade this morning that hit SL, probably fuelled by frustration. Ah well, still in the green for the week so I can't complain. Hopefully today brings some more opportunities. Plus the occasional burn is always a good reminder to stay focused and...
Cheers man!! Yeah I know your story all too well, to many missed ops the. Seeing them profit, then losing the psychological battle and entering a trade not wanting to miss anything again and most are poor decisions where all trading signals are not there!!

My first (dummy) trade was a 20 pip win this morning and didn't have time tonight as my boys first parents evening at big school ( they said he is gifted!! Proud parent right here :nerd:blush:.
  • #14,535
  • Oct 21, 2015 6:59am Oct 21, 2015 6:59am
Quoting honestknave
{quote} Nope, 5th BE in a row Chart isn't much to look at, but I said I would post it: {image}
It probably doesn't help but I liked how you managed the trade. A lot of pain but it seems you got out at the right time. Nice trade management
  • #14,536
  • Oct 21, 2015 8:23am Oct 21, 2015 8:23am
Hello everyone, I've been following this thread since march this year. I'm still at page 385, so, I'm taking my time with the golden info that's available here.

I just stopped for a sec and couldn't resist posting here because I can't thank Mr.Pip enough for everything he did and he is still doing by giving us his knowledge, experience, and being a mentor to me. Seriously, he teaches not only his technique or style (ratio harmonics, PA etc. etc), but he even showed us which broker to use, what platform and even the money management to employ for a successful trading life. I mean, You get the whole package here. I just want to Thank You Damian (Mr. Pip) very very much and wish You many blessings in your life.

And I want to thank everybody here for posting their charts, discussing the techniques and everything else, and since I'm the last on board here, I hope and wish that You all are doing financially great in this business. So, green pips to All of You!

Just as my humble little contribution in this thread (since I'm already posting here), I've attached the EU chart which by the way, is the only pair I trade (with a real acc since Sept. actually). I'll be back to write some stuff about myself and what I've been doing so far, (i feel obliged to do so, since I've read so many stories by many of you, and i feel like I've known you for some time now . So, that's for now.

cheers and have a good day

-arjan
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  • #14,537
  • Edited 8:49am Oct 21, 2015 8:26am | Edited 8:49am
good morning traders

pretty slim pickings out there this morning for me. EURSD is in a tight consolidation area but I don't like the break out strategy for this pair. can't really define support and resistance or create high probability expectations. Don't want to guess either

GBPUSD is another situation. I identified a 1 to 1 as soon as I open the charts that respected previous 1 hour structure. There was a lot I liked with this trade but I didn't like that the 1 hour structure was previously not respected (blue line / circled) and I was a little confused with the consolidated.

I felt like I was missing something and didn't want to make an impulsive trade so I skipped it. oh well...
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  • #14,538
  • Oct 21, 2015 8:46am Oct 21, 2015 8:46am
Quoting PipTrendz
My first (dummy) trade was a 20 pip win this morning
Great work
Quoting PipTrendz
and didn't have time tonight as my boys first parents evening at big school ( they said he is gifted!! Proud parent right here :nerd:blush:.
Even better!
  • #14,539
  • Oct 21, 2015 8:47am Oct 21, 2015 8:47am
Quoting Mack2013
{quote} It probably doesn't help but I liked how you managed the trade. A lot of pain but it seems you got out at the right time. Nice trade management
Haha thanks Mack - small mercies!
  • #14,540
  • Oct 21, 2015 8:47am Oct 21, 2015 8:47am
Quoting ujku80
Hello everyone, I've been following this thread since march this year. I'm still at page 385, so, I'm taking my time with the golden info that's available here. I just stopped for a sec and couldn't resist posting here because I can't thank Mr.Pip enough for everything he did and he is still doing by giving us his knowledge, experience, and being a mentor to me. Seriously, he teaches not only his technique or style (ratio harmonics, PA etc. etc), but he even showed us which broker to use, what platform and even the money management to employ for...
Hi arjan, great to see some fresh faces posting.
Looking forward to seeing more charts
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