Ratios & Harmonics: a Different Way to Trade | Page 782 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

"Ratios & Harmonics: a Different Way to Trade." Summary 37 replies

Learning to trade with harmonics 11 replies

Time for Change - Pivots & Harmonics to freedom 67 replies

180 reasons to trade Harmonics and Patterns 13 replies

Group Trading based on Elliott wave and Harmonics 0 replies

Attachments: Ratios & Harmonics: a Different Way to Trade
Exit Attachments

Ratios & Harmonics: a Different Way to Trade

  • #15,621
  • Jan 29, 2016 6:27am Jan 29, 2016 6:27am
Well got to get ready for battle catch you all later on today.
If you fail to plan, you plan to fail.
  • #15,622
  • Jan 29, 2016 6:31am Jan 29, 2016 6:31am
Quoting danielwang
Dear Mr Pip and Traders, USDCHF has formed the bearish Gartley now. However, the last candle is a strong bullish one. how do you handle this? Start to build positions from small amount or wait for PA? {image}
Well I don't trade these complex patterns , but can give you this info.
Average dayrange for the last 5 days was 77 pips , today we reached already 111 pips , so I think more upside today is not so likely anymore , but anything is possible of course.

If I look at the 4 hr chart I think the market will try to reach for the stops above at 1.0265 and maybe further , As i mentioned probably not today , and on the other hand it could drop like a rock from this moment on.
Attached Image (click to enlarge)
Click to Enlarge Name: Chf 4hr 29jan16.png Size: 53 KB
  • #15,623
  • Jan 29, 2016 6:56am Jan 29, 2016 6:56am
Hi guys!

Long time no see, haven't traded for a while due to too much work but soon I will be back at it. First I need to write my trading plan and back test it though. I spent some time catching up on this thread, love your input Mr. Pip. Your latest videos are really crisp, both video and audio is great and your message is clear and concise.

Quoting Mr. Pip
What are your thoughts?
I love this idea, really good and I think everyone who hasn't reached master level will learn alot. May I suggest that you add some videos/subjects:
* Money management (would be great if you could explain both the smooth ratio formula and the importance of risk management (better than 1:1 etc), not risking money you can't afford to lose etc.)
* What you should cover in your trading plan (the importance of a clear trading plan and that your ROE is back tested with a positive net return)
* Trading psychology (the importance of sticking to your rules, trade with a clear, calm and focused mind etc)

Maybe you only want to focus on the trading technique but I think if you add these things you will have the full package. Perhaps you recommend some existing media for these subjects?

Just my two cents.
Rise and rise again until lambs become lions
  • #15,624
  • Jan 29, 2016 7:16am Jan 29, 2016 7:16am
Quoting Mr. Pip
{quote} Never add to a losing trade. This is a golden rule! You are in it so manage your trade you have your stop in place. What do your rule tell you to do? I hope you are not trading on hope and have a set of rule that guide you.
Hi Mr Pip,
thanks for your comment. Yes, you are right. need to set and rule and be disciplined. Pattern is step 1, thereafter is to look for confluence and then structure. wait till PA tells a reverse trend then enter.

Question: if the price continues to go up and CD exceeded AB or 1.382 extension, would you still continue to monitor the pair? or will you just walk away?
  • #15,625
  • Jan 29, 2016 7:18am Jan 29, 2016 7:18am
Quoting c49
{quote} Well I don't trade these complex patterns , but can give you this info. Average dayrange for the last 5 days was 77 pips , today we reached already 111 pips , so I think more upside today is not so likely anymore , but anything is possible of course. If I look at the 4 hr chart I think the market will try to reach for the stops above at 1.0265 and maybe further , As i mentioned probably not today , and on the other hand it could drop like a rock from this moment on. {image}
Hi bro,
thanks for sharing your view. you mentioned about stop above 1.0265, do you mean that the bull order flow still very strong and continue to break resistance and form support?
  • #15,626
  • Jan 29, 2016 7:29am Jan 29, 2016 7:29am
Quoting danielwang
{quote} Hi bro, thanks for sharing your view. you mentioned about stop above 1.0265, do you mean that the bull order flow still very strong and continue to break resistance and form support?
Well Bulls are still in control but if they are strong enough to reach for that level today ? I don't know , otherwise I would be the richest man on earth.
But if you look close at my chart I have drawn the daily highs nearby , now from the high at 1.0265 there was a huge downfall , probably so quick that a lot of big players which would like to short have missed the boat and now are trying to push price up to fill the resting short orders lying there . Maybe they can reach the level and even can push further or they will drop it now like a rock and it was only End of the Month window dressing .
I dont know , but you can see that by drawing simply Daily High and Lows you can already gather a lot of info .
  • #15,627
  • Jan 29, 2016 7:46am Jan 29, 2016 7:46am
Quoting Mr. Pip
I want to run something by you all. Jason Devontrader and I spook through Skype and he had a suggestion that I feel is a good idea and makes sense. I would like you feedback on this. Part of the challenges of the thread is that the valuable information is scattered throughout hundreds of pages and difficult to get to. Also there is a gap in experience levels here that sometimes the newer people are lost and start trying to trade these advance formations without knowing how to read the chart or how to even qualify a setup. This is a problem because...

Damian that would be so nice.

Aj1
  • #15,628
  • Jan 29, 2016 7:51am Jan 29, 2016 7:51am
Quoting Mr_Burns
Hi guys! Long time no see, haven't traded for a while due to too much work but soon I will be back at it. First I need to write my trading plan and back test it though. I spent some time catching up on this thread, love your input Mr. Pip. Your latest videos are really crisp, both video and audio is great and your message is clear and concise. {quote} I love this idea, really good and I think everyone who hasn't reached master level will learn alot. May I suggest that you add some videos/subjects: * Money management (would be great if you could...
Thanks for the feedback I will process this good points I just didn't want to deep into those areas and focus more on the trading but I do see the value in covering it to some extent.
If you fail to plan, you plan to fail.
  • #15,629
  • Jan 29, 2016 7:54am Jan 29, 2016 7:54am
Quoting danielwang
{quote} Hi Mr Pip, thanks for your comment. Yes, you are right. need to set and rule and be disciplined. Pattern is step 1, thereafter is to look for confluence and then structure. wait till PA tells a reverse trend then enter. Question: if the price continues to go up and CD exceeded AB or 1.382 extension, would you still continue to monitor the pair? or will you just walk away?
You need to process the information and have an expectation. We don't walk away, we listen and read the chart if an expectation fails we wait for the next and take the appropriate action. If I misunderstood you let me know, I might have.
If you fail to plan, you plan to fail.
  • #15,630
  • Jan 29, 2016 8:09am Jan 29, 2016 8:09am
Hell Traders,

Thanks for all the feed back and I guess I will be moving forward with the action plan of the weekly lessons. Thank Jason for the suggestion it was his idea. I also post this weeks trading stats and P/L not to show off but for you all to see that knowing how to read the chart pays big time and to empower you to do the came I know it says 88 Trades but it is how Ninja Trader breaks down contracts. It was actually 12 Trades no losses I did not trade any Gartleys, Bats or any of the other animals. I did however use lots of market harmonics and had expectations to guide me through the week.
Attached File(s)
File Type: pdf Ninja Report 012916.pdf   39 KB | 1,143 downloads
If you fail to plan, you plan to fail.
  • #15,631
  • Jan 29, 2016 11:09am Jan 29, 2016 11:09am
Quoting Mr. Pip
Hell Traders, Thanks for all the feed back and I guess I will be moving forward with the action plan of the weekly lessons. Thank Jason for the suggestion it was his idea. I also post this weeks trading stats and P/L not to show off but for you all to see that knowing how to read the chart pays big time and to empower you to do the came I know it says 88 Trades but it is how Ninja Trader breaks down contracts. It was actually 12 Trades no losses I did not trade any Gartleys, Bats or any of the other animals. I did however use lots of market harmonics...
Wow, that's impressive! Congrats!
Rise and rise again until lambs become lions
  • #15,632
  • Jan 29, 2016 11:55am Jan 29, 2016 11:55am
Quoting hovedguy
EURJPY 1H, what you say? Will enter at 23% if price bounces off 38%.. {image}
Here's the update..

Wishing all my fellow soldiers a happy weekend
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot2.png Size: 48 KB
  • #15,633
  • Jan 29, 2016 11:57am Jan 29, 2016 11:57am
Quoting Mr. Pip
I want to run something by you all. Jason Devontrader and I spook through Skype and he had a suggestion that I feel is a good idea and makes sense. I would like you feedback on this. Part of the challenges of the thread is that the valuable information is scattered throughout hundreds of pages and difficult to get to. Also there is a gap in experience levels here that sometimes the newer people are lost and start trying to trade these advance formations without knowing how to read the chart or how to even qualify a setup. This is a problem because...

Now we're talking......looking forward to it
  • #15,634
  • Jan 29, 2016 12:49pm Jan 29, 2016 12:49pm
Quoting Mr. Pip
I want to run something by you all. Jason Devontrader and I spook through Skype and he had a suggestion that I feel is a good idea and makes sense. What are your thoughts?
That is amazing!! It's totally unheard of in this industry to have someone give so much and expect only hard work in return. When word gets out this thread will be flooded.
I would suggest that posts be restricted to that weeks topic ONLY and questions unrelated not be posted here.
I would try to be part of it and participate when I can.
Barry
  • #15,635
  • Jan 29, 2016 1:14pm Jan 29, 2016 1:14pm
Dear Mr. pips,

I am following your thread silently since approx. 6 weeks. I started to read from page 1 to 70 (until now) and the daily new threads (last 20 to 30 pages).
I would welcome a lot your weekly lessons plan, since I had not the luck to follow from day 1.
The reason to start reading your thread was that I wanted to find a way to "confirm" the patterns (gartley,...) in a given chart. Sometimes I saw a given pattern, but the chart overran the normal expected entry point.
The subject-matter onto which a struggle most is the ideas of symmetry. When I see an old chart, I see the symmetrical moves them but I cannot predict them. Moreover, the matter with NSL, HL, LL, NSH are in theory understood but in realtime a problem (entry/exit).

Thank you for sharing your knowledge over such a long period of time (since page 1).
  • #15,636
  • Jan 29, 2016 1:19pm Jan 29, 2016 1:19pm
Quoting hovedguy
{quote} Here's the update.. Wishing all my fellow soldiers a happy weekend {image}
Awesome!
If you fail to plan, you plan to fail.
  • #15,637
  • Jan 29, 2016 1:20pm Jan 29, 2016 1:20pm
Quoting Bary
{quote} That is amazing!! It's totally unheard of in this industry to have someone give so much and expect only hard work in return. When word gets out this thread will be flooded. I would suggest that posts be restricted to that weeks topic ONLY and questions unrelated not be posted here. I would try to be part of it and participate when I can.
Thanks Barry great suggestion and agree. I will lay out the rules for the education week prior to start on Monday.
If you fail to plan, you plan to fail.
  • #15,638
  • Jan 29, 2016 1:27pm Jan 29, 2016 1:27pm
Quoting evocpr19
Dear Mr. pips, I am following your thread silently since approx. 6 weeks. I started to read from page 1 to 70 (until now) and the daily new threads (last 20 to 30 pages). I would welcome a lot your weekly lessons plan, since I had not the luck to follow from day 1. The reason to start reading your thread was that I wanted to find a way to "confirm" the patterns (gartley,...) in a given chart. Sometimes I saw a given pattern, but the chart overran the normal expected entry point. The subject-matter onto which a struggle most is the ideas of symmetry....
I've taken breaks here and there from time to time. But I'm here to see it through and to crush the myth that it can't be done and that we are all dreamers or gamblers. I am the real deal and I practice what I teach. I just hope traders take it seriously and put in the work needed.

On the road less traveled there are no shortcuts! I also want to put a serious dent in the statistic that 90% of us fail. That won't be true much longer if you all apply yourselves.
If you fail to plan, you plan to fail.
  • #15,639
  • Jan 29, 2016 2:08pm Jan 29, 2016 2:08pm
For others in the thread, who are coming in like me. I'm a veteran trader (or at least I call myself such). But it wasn't until recently that I actually KNEW how to read a price chart. A naked price chart. Without indicators. I always thought indicators were what made the chart, but price is what makes the chart.

I hit my profit target goal for the past 3 days straight! That's consistency I haven't seen. It's small, but it's a really good beginning. I've been able to keep myself out of bad trades because I am watching price action, and I have an expectation of where price should move, not an "indicator" telling me where it's already moved.

It really is all about timing and patience. (both of which i have had issues with lol) Projecting the fibs and watching for harmonics. and then when it hits a pattern completion point, WAITING for the signal to enter. I was following a harmonics indicator (It cost $99 and it prints out bat, gartley, etc. patterns) that i would just go in blindly when it triggered. I lost more than i won there. Because i wouldnt be reading the charts and getting in at the best wholesale position to lower my risk.

In the last three days, Ive only had 1 loss, which was nearly a break-even because I was so close to price action, I wasn't in the trade at retail hoping price wouldn't come smack me. I was actually ok with the loss. I more than made up for it on the next trade. :-)

Thank you again, Mr. Pip! I can't wait for your new training to begin next week!
Markets can remain irrational longer than you can remain solvent - JMK
  • #15,640
  • Jan 29, 2016 2:58pm Jan 29, 2016 2:58pm
Quoting Mr. Pip
I want to run something by you all. Jason Devontrader and I spook through Skype and he had a suggestion that I feel is a good idea and makes sense. I would like you feedback on this. Part of the challenges of the thread is that the valuable information is scattered throughout hundreds of pages and difficult to get to. Also there is a gap in experience levels here that sometimes the newer people are lost and start trying to trade these advance formations without knowing how to read the chart or how to even qualify a setup. This is a problem because...
I'm All in Mr Pip. Its a great idea. Looking forward to the video lessons. learnt alot fron you already. You really do know what you are talking about. You remind me of a saying from a movie called knight rider. "One Man Can Make a difference"...Cheers!!!
As a man thinketh in his heart, so is he.
38 traders viewing now