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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

  • #16,741
  • Feb 20, 2016 5:40pm Feb 20, 2016 5:40pm
Quoting monocor
{quote} How, hmmm, I follow mr.Pip and thats it We are retail traders, it is tottally different world. Look on the chart, do you see where is CBS placed 10M order on the market ? I don't! So how you can look for something which you dont know
ok guys ....

your points are made,,,,we as well as you are distracted from focusing on mr pips method

so please draw a line in the sand and lets focus?

fully respect everyones view,,you can do as you wish when trading but here in this thread there is only one focus needed

heads down eyes down and brain ticking

thanks guys
  • #16,742
  • Feb 20, 2016 5:45pm Feb 20, 2016 5:45pm
Quoting devontrader
{quote} ok guys .... your points are made,,,,we as well as you are distracted from focusing on mr pips method so please draw a line in the sand and lets focus? fully respect everyones view,,you can do as you wish when trading but here in this thread there is only one focus needed heads down eyes down and brain ticking thanks guys
I am agree
Even though I walk through the darkest valley, I will fear no evil
  • #16,743
  • Feb 20, 2016 6:16pm Feb 20, 2016 6:16pm
Quoting monocor
{quote} How, hmmm, I follow mr.Pip and thats it We are retail traders, it is tottally different world. Look on the chart, do you see where is CBS placed 10M order on the market ? I don't! So how you can look for something which you dont know

Hi monocor;

Like, I have said it's the way I Trade every day I was just trying to help people see beyond the candles that are printed.

If you don't think there's anything to see, that's ok, it's your loss, I'll just carry on doing what I do and leave you to it.
Attached Image (click to enlarge)
Click to Enlarge Name: 20th Feb 16 EUR:USD M5 Chart .png Size: 141 KB
  • #16,744
  • Feb 20, 2016 6:50pm Feb 20, 2016 6:50pm
Quoting stevepatt
{quote} Hi monocor; Like, I have said it's the way I Trade every day I was just trying to help people see beyond the candles that are printed. If you don't think there's anything to see, that's ok, it's your loss, I'll just carry on doing what I do and leave you to it. {image}
A book cannot be read solely by its cover.In order to understand the pictures detailed explanation is required on how to read and trade each chartThis is what mr pips is doing....getting us to read each chapter to understand the bookYour method needs the same but in your thread.Many i noticed have looked at the book cover and given up cos they have no chapters to read
  • #16,745
  • Feb 20, 2016 7:55pm Feb 20, 2016 7:55pm
Quoting stevepatt
{quote} Hi monocor; Like, I have said it's the way I Trade every day I was just trying to help people see beyond the candles that are printed. If you don't think there's anything to see, that's ok, it's your loss, I'll just carry on doing what I do and leave you to it. {image}
I can post you 3-5 trades every day, which is made by following mr. Pip teaching, with a consistant profit every day, and not only me, many other traders from this thread.

Your chart has nothing to do with what we do here. So plz make your posts some where else. Stop trashing arround here.
Even though I walk through the darkest valley, I will fear no evil
  • #16,746
  • Feb 20, 2016 9:04pm Feb 20, 2016 9:04pm
Agreed. We're here to learn from Mr. Pip, not from stevepatt. You have a good system, no one is knocking it. But, please move along and start your own thread. You're distracting us from what we're trying to accomplish here.

Quoting monocor
{quote} I can post you 3-5 trades every day, which is made by following mr. Pip teaching, with a consistant profit every day, and not only me, many other traders from this thread. Your chart has nothing to do with what we do here. So plz make your posts some where else. Stop trashing arround here.
Markets can remain irrational longer than you can remain solvent - JMK
  • #16,747
  • Feb 20, 2016 10:04pm Feb 20, 2016 10:04pm
Quoting tiong999
{quote} Ehmmm....maybe u miss conduct, if may i try to analyze, it will still make new LH at moment, and we are still in complex correction and price will try to break 76.83, that the area we will like to examine to establish NSH expectation, at moment we still expect it LH for NSL expectation. Maybe im not correct, forgive me to interupt your analysis. Cheers buddy NB: I just look at bigger picture on daily chart, we have strong rejection at 74.49. This will be area of confusion, we still have to examine what price will react, but it will be big...

Wow bro, great analysis by you.......it panned out exactly as you said. Pardon me for the late reply as I am not regular here though glance through often to gain new insights from you all.
  • #16,748
  • Feb 21, 2016 2:13am Feb 21, 2016 2:13am
Hi Mr. Pip,

Fantastic thread, it has really moved along from when I was last here. So I have noticed that you are now using 6E futures and the YM. Have you had any experience with the M6E (Micro)? I read somewhere that the liquidity is not the best on the M6E.
So I wanted to share an experience I had the other day (Friday 19th @ 1930hrs AEST) trading the GBPUSD (not with the method that you have been showing all though I will be trying to adapt this method and after the experience I had with the below off to the futures I go.

So basically what happened with the broker which I wont name until I get credited my money back (the broker is a large broker that is regulated by ASIC.)
At 1930hr I had a Stop Entry order to go Long GBP/USD at 1.43411. The order entered the market at 1.43586. I have attached a pic.

From the pic you can see that price went no where near my order 1.43411 at 1930hrs let alone 1.43586 where i was miraculously entered. So of course I was ballistic with this crap. I was straight on the phone to the broker. So this is the response I got:

Please Remember:
-When placing a Sell order, either to enter a short position or to exit a long position, be sure to look at the “Bid” prices on the chart.
-When placing a Buy order, either to enter a long position or to exit a short position, be sure to look at the “Ask” prices on the chart.

The difference between the “Bid” and “Ask” price is based on the spread on the currency pair during that time in the market.

The prices being described in your inquiry would be those of the “Bid” prices. To toggle between “Bid” and “Ask” prices on the chart, use the “Bid” and “Ask” buttons on the top toolbar. If you are trading on the MT4 platform, please keep in mind MT4 will only display the "Bid" prices on their charts.

Additionally, this Stop Entry was correctly triggered and filled on the secondary tier of liquidity. By the secondary tier of liquidity, it means that the Stop Entry to open this particular trade was filled outside of charting. As FX is a decentralized, over the counter market, there may be multiple prices at any given time. The brokers execution engine, Best Bid- Best Offer (BBO), streamlines prices provided by the brokers liquidity providers to show the best rate available at that time in the market. The BBO price feed is represented by the charting which is seen on the platform at any given time in the market.
Additionally during the execution of the stop the order experienced slippage. Please understand that slippage is an execution risk that occurs when a trade triggers at one rate but subsequently fills at another rate due to insufficient liquidity at the original price. Slippage most commonly occurs during fundamental news events or periods of limited liquidity. Slippage can both be positive and negative on a trade, in this particular case the slippage was positive and benefited your account by closing your short trades and a lower or more favorable rate.

The pricing engine for the platform use several tiers of liquidity. When the first tiers of liquidity, from which the charts derive their price feed, are originated, are used up by orders, secondary liquidity can fill a trade. This type of execution is infrequent, and occurs usually only during fast or thin markets. During fast moving markets especially around high impact news events, the charts cannot capture all prices ticks.
Thus, in this instance, the stop order was filled off of the chart due to the increased volatility which occurred at the time. Also attached to this email is a screenshot of our DailyFX Economic Calendar at 9:30 UTC. During this time there were a number of GBP economic releases which likely caused an uptick in volatility, resulting in limited liquidity and a spread of approximately 11-12 pips when your order was filled.

While slippage is an inherent risk of stop orders, there are a multitude of ways that the account holder can put themselves in a position to manage risks such as this more efficiently. In regards to order execution, when using market orders the account holder may consider using the market range feature, which allows the trader to specify the amount of slippage which will be tolerated on a particular market order. With entry orders, the account holder can utilize the limit entry or limit orders, which guarantee the price desired or better, however are dependent on the underlying market liquidity in their execution.

While there were no issues with this trade's execution, we will credit this account. This account will receive a one-time good faith credit . Please allow 3-5 business days for the adjustment to appear in your account.

P.S that is credit for the slippage.

So basically Holy Shit I have to take there word for it that the market actually moved upto 1.3586.

What a load of shit.

Anyway thats my rant, do you think this may happen on the future contracts?

Once again great content, love the videos keep up the good work. I will be looking more into futures and the way things have been presented throughout the thread. Oh before I go just one more question, do you use Kinetick for your price feed?

Thanks again,
Marty
Attached Image (click to enlarge)
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It's not about how much you make, it's about how much you don't lose
  • #16,749
  • Feb 21, 2016 3:22am Feb 21, 2016 3:22am
Quoting Timwelch
I don't have any statistics or long term analysis yet. I'm new to this awesome way of trading. :-) Form what I've seen so far, I'm less likely to risk my capital on a trade that has had a projection that is 1/3 or less of the depth of the previous correction. Like on the chart you posted before, where the last 2 corrections had a significantly higher depth-to-projection ratio. But, I could be wrong, and those could be the more profitable / less risky entries. Still learning. :-) {quote}
  • #16,750
  • Feb 21, 2016 4:54am Feb 21, 2016 4:54am
Hi Traders

just a quick question, mr pip outlined a wholesale entry but i feel i would have entered earlier and taken a loss on this one.
ive drawn a green line where i may have entered im not sure what chart mr pip has used maybe dow jones, but my chart looks different so i couldn't check the ratios of the entry.

the green line i have drawn does act as previous resistance and temporarily acts as support going forward, it even gets a little doji action.

so is this the wrong entry because price has not retraced at least to the 61.8?

Attached Image (click to enlarge)
Click to Enlarge Name: PIP.jpg Size: 329 KB
  • #16,751
  • Feb 21, 2016 6:08am Feb 21, 2016 6:08am
Alright, another question:

If we expect shallow correction and price retraces deep, do you think its a sign that the expectation might fail and safe to avoid entering?
Attached Image(s) (click to enlarge)
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  • #16,752
  • Feb 21, 2016 6:39am Feb 21, 2016 6:39am
Quoting hovedguy
Alright, another question: If we expect shallow correction and price retraces deep, do you think its a sign that the expectation might fail and safe to avoid entering? {image} {image}
not really a case of not entering...your expectation is a nsh and 127.I woukd still enter as per expectation and as you have structure
  • #16,753
  • Feb 21, 2016 6:47am Feb 21, 2016 6:47am
Quoting hovedguy
Alright, another question: If we expect shallow correction and price retraces deep, do you think its a sign that the expectation might fail and safe to avoid entering? {image} {image}

Hasnt your NSH expectation failed already according to where you have drawn your fibs, price has fallen below the starting point, no? shouldnt expectation be for a NSL
  • #16,754
  • Feb 21, 2016 6:50am Feb 21, 2016 6:50am
Quoting devontrader
{quote} not really a case of not entering...your expectation is a nsh and 127.I woukd still enter as per expectation and as you have structure
  • #16,755
  • Feb 21, 2016 6:51am Feb 21, 2016 6:51am
Quoting Asr1
{quote} Hasnt your NSH expectation failed already according to where you have drawn your fibs, price has fallen below the starting point, no? shouldnt expectation be for a NSL
Hey Asr

If you're referring to the 2nd pic, its just to show the expiry of that trade, 1st pic is more like real time entry
  • #16,756
  • Feb 21, 2016 6:51am Feb 21, 2016 6:51am
Hello Traders,

I will be catching up and making that video today. Sorry I could not get it done yesterday.
If you fail to plan, you plan to fail.
  • #16,757
  • Feb 21, 2016 6:53am Feb 21, 2016 6:53am
Quoting Mr. Pip
Hello Traders, I will be catching up and making that video today. Sorry I could not get it done yesterday.
No worries Mr. Pip.... take your time
  • #16,758
  • Feb 21, 2016 7:11am Feb 21, 2016 7:11am
Hi

I just joined this forum specifically to contribute too, and learn from, this thread. I found it through a simple google search. I (think I) can understand Mr Pips motives in starting this thread as trading can be a very boring and lonely endeavour, at times, and as decent person(I'm sure) its in our nature to help and try to help others.

I have been trading for 9 years but only part time it's more of a hobby. I know it is incredibly difficult to make money consistently in the markets and as a result have not attempted to become a full time trader, though when I feel I have finally 'nailed it' I may just give it a try, just not yet.

I have tried virtually every system and strategy you can imagine, lost money, made money. I have been aware of harmonics for many years but never really tried trading properly with it, though I do use Fib and my analysis of order flow and structure is very similar to his. I trade with renko charts and the only indicator I use is EMA. May I ask Mr Pips whether he thinks harmonics is compatible with Renko charts? I'm here to learn and possibly find elements of this system that can add value to my own or possibly scrap my own and adopt this one, depends how it goes, attached is a typical chart 5 pip renko SPX. Thanks Mr Pips for your work and I am looking forward to videos and lessons.

Attached Image (click to enlarge)
Click to Enlarge Name: spx.png Size: 38 KB
  • #16,759
  • Edited 7:38am Feb 21, 2016 7:25am | Edited 7:38am
Quoting Asr1
{quote} Hasnt your NSH expectation failed already according to where you have drawn your fibs, price has fallen below the starting point, no? shouldnt expectation be for a NSL
@Asr1: maybe I am now completly confused, but we change only expectations if the price closes below the NSL of the main swing (level in graph where the 100 % fib mark is), since the Previous NSH and NSL defines the boundaries. In between we have complex correction. For trading purposes, the fib levels 50 to 78.6 would be good entries for buy, dependent on the previous structure levels which could give support.
Hope it makes sense.

If I am wrong, please correct me.
If I am right, a short confirmation would also be helpfull
  • #16,760
  • Feb 21, 2016 7:33am Feb 21, 2016 7:33am
Quoting hovedguy
{quote} Hey Asr If you're referring to the 2nd pic, its just to show the expiry of that trade, 1st pic is more like real time entry
Oh ok i was confused. i see what you did there.
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