Ratios & Harmonics: a Different Way to Trade

Quoting ujku80

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{quote} trade plan...hm. i don't have one...yet i thought my plan is to learn how to be profitable

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Quoting Mr. Pip

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{quote} You are measuring depth wrong it is supposed to be from the swing high or low to the corrective swing high or low. You have the right idea but did it backwards.

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Quoting ujku80

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{quote} well said! so true. I'm a scientist and basically that's how science works. Before we find out what works, sometimes we try to find out what doesn't work so that we can learn from it. Remember Edison, when he invented the incandescent light bulbs, and he had tested more than 1000 various materials. When a journalist asked him "what is it like to fail 1000 times?" - he answered "I didn't fail 1000 times. I just found 1000 things that do not work". hehe. Well, I guess that's why science only goes forward, whereas history repeats itself. probably...

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Quoting ujku80

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{quote} trade plan...hm. i don't have one...yet i thought my plan is to learn how to be profitable

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Quoting Harmonic1976

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{quote} Likewise, I think the plan will come in time. Have to get more consistently profitable first I think. Obviously we are trading Mr. Pip's Methodology and the plans should be similar... but I think it will take time to figure out what typically works better for us based on our expectancies, entries, stops, exits, confluence, timeframes, risk tolerance, etc., and and wrap the plan around that. I don't think I'm there yet to write the plan.

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Quoting lKeithStone

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{quote} Is this better Mr. Pip? {image}

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Quoting Masterrmind

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{quote} I do trade full-time but have a very strong mathematical and engineering background ie I'm a qualified engineer. But don't think for a second that all the qualifications in the world will somehow magically make you an awesome trader ... this is far from reality. Some of my closest trading friends don't have a string of university qualifications but they have an awesome understanding of how price typically moves in the market and they know how to trade it with an appropriate level of risk. The key here is that they understand risk management...

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Quoting Mr. Pip

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{quote} A written plan is super important. It keeps you disciplined and consistent. It outlines your rules. It is your business plan.

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Quoting shs12

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Mr Pip, Thank you very much for all your efforts.It is really helping.Took a trade this morning on GBPUSD. The blue rectangle is my entry and green rectangle is my exit. I thought the price will reverse, but it went on to 1 to 1 expectation (actually more than that). Need to trail in a proper way. There are not that many people around who help others with out expecting anything. I wish you have all the success in the future. {image}

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Quoting Mr. Pip

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{quote} Much better but the line in the middle is nothing it is out of place. It extends to the very top.

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Quoting Masterrmind

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EURAUD [M1 Chart] {image} Looking for an opportunity to eventually go long but we shall see! If the bears show continued strength and price breaks down below my expected zone for a long then I walk away.... no harm done! Masterrmind...........

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Quoting Masterrmind

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{quote} Price continues to flow with my expectations........... {image} Masterrmind...........

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