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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

  • #17,861
  • Mar 4, 2016 12:49pm Mar 4, 2016 12:49pm
Quoting beepbop2015
{quote} Nifty system, harmonic! It's interesting to see how you are taking Mr. Pip's principles and making something of your own. Thanks for sharing. Let us know how it works out for you!
  • #17,862
  • Mar 4, 2016 12:50pm Mar 4, 2016 12:50pm
Quoting Harmonic1976
Working on my first set of rules of engagement based on experiences so far. I haven't back tested any of it but I've noticed that swings do happen at these 3 main levels and if price goes at or beyond the .786 (deep correction)... it's not likely to form a NSH even though that's the expectation. Most of the time I have been trading the 2min, 5min, or 233T charts and have limited my trading pairs to EURUSD/AUDUSD/USDJPY and I focus on whichever ones show stronger NSH or NSL happening. I like scaling into a position... The reason I want in at the...
I like it. I'm not a huge fan of scaling into a position but each to their own.

For more confidence in the 38.6 entry you can go with something like...

"If projection and momentum have increased then a 38.6 correction can be expected. Entry on weakness (Bar by bar or the overall correction)" I think it will work well with your graceful exit technique but it might complicate matters tho, if your looking to keep things simple.
  • #17,863
  • Mar 4, 2016 12:55pm Mar 4, 2016 12:55pm
Quoting ujku80
ok guys, here is the news regarding my trade. Either SL was hit or TP was hit, right? What do you think just happened? Well, ladies and gentlemen, let me show once more the power of harmonics and how f@cking precise these 1/1 calculations are. I'm a scientist and we all know that there is no such thing as a measurement without error. but look at this case here...comments are unnecessary. {image}
Nice. Balls of steal. haha
  • #17,864
  • Mar 4, 2016 1:11pm Mar 4, 2016 1:11pm
Quoting Harmonic1976
Working on my first set of rules of engagement based on experiences so far. I haven't back tested any of it but I've noticed that swings do happen at these 3 main levels and if price goes at or beyond the .786 (deep correction)... it's not likely to form a NSH even though that's the expectation. Most of the time I have been trading the 2min, 5min, or 233T charts and have limited my trading pairs to EURUSD/AUDUSD/USDJPY and I focus on whichever ones show stronger NSH or NSL happening. I like scaling into a position... The reason I want in at the...
Nice study Harmonic. I like it. Good work. I think the statistics can change if you for example compare the last swing with the previous ones. Or if you consider that the swings are in line with long term order fllw or if you take strength and weakness into consideration. In general it plays out more than it doesnt and thats enough to be profitable in the long term. But remember that every situation is unique and the market sentiment at that moment is very important.
Happy weekend
  • #17,865
  • Mar 4, 2016 1:12pm Mar 4, 2016 1:12pm
Quoting Mack2013
{quote} Nice. Balls of steal. haha
LOL
  • #17,866
  • Mar 4, 2016 1:17pm Mar 4, 2016 1:17pm
Quoting Mack2013
{quote} I like it. I'm not a huge fan of scaling into a position but each to their own. For more confidence in the 38.6 entry you can go with something like... "If projection and momentum have increased then a 38.6 correction can be expected. Entry on weakness (Bar by bar or the overall correction)" I think it will work well with your graceful exit technique but it might complicate matters tho, if your looking to keep things simple.
Good points!! the projection adds a discretionary element to it but it could make the system have a little discretion... i.e. 2 entries only depending on expectancy. I.e. Strong Projection = entry at .38 and .5 only.... normal projection = entry at .5 and .618 only... weak projection .618 and .786. With something like this it could be 1% risk at each level for a 2% account risk total. I like it.

I'm going to try to start testing different options with this over the weekend and see how it does.
  • #17,867
  • Mar 4, 2016 1:23pm Mar 4, 2016 1:23pm
Quoting ujku80
{quote} Nice study Harmonic. I like it. Good work. I think the statistics can change if you for example compare the last swing with the previous ones. Or if you consider that the swings are in line with long term order fllw or if you take strength and weakness into consideration. In general it plays out more than it doesnt and thats enough to be profitable in the long term. But remember that every situation is unique and the market sentiment at that moment is very important. Happy weekend
You got it, will have to back test and forward test... but I'm definitely finding that I need clear rules in place for entry and exit and I'm trying to build in rules that help satisfy the different demons.

i.e.
Bias to be correct (stop loss at NSL/NSH or HL/HH so that if wrong, the market will speak clearly and then need to go in opposite direction upon rule setup)
Bias of wanting a great wholesale entry point (averaging into a position that is expected to move in a specific direction)
Fear of missing out (multiple entry points to capture the expected move even if just 1 or 2 take off)
Fear of getting stopped out with no profit after a favorable move (reason for having a Target 1 that is reasonable i.e. structure test)
Bias of not letting profits run (trailing stop method Mr. Pip suggests and aggressively training after T2 is hit (1:1 harmonic or 1.27extention + )
  • #17,868
  • Mar 4, 2016 3:56pm Mar 4, 2016 3:56pm
Quoting camry
{quote} im still not proficient if looking the patterns. i need first indicator to help me. when i be better like you guys maybe i can remove indicator. what do you suggest?
No indicators in here. There are no shortcuts to learning this method of trading. You need to put in the time to read the charts and learn through trial and error, probably on a demo account.

We don't use indicators or recommend any, naked charts and reading price is what we are about. If you have not been through all the recent education, then you should start with that. Go to the first post and there is a link there. All the recent stuff has not even gone over patterns yet.
  • #17,869
  • Mar 4, 2016 6:20pm Mar 4, 2016 6:20pm
Quoting ujku80
{quote} it's funny cuz with after so many months trading live I'm still at break even. And the story is that what I win with EU i loose by trading YM (trading the same number of contracts on both pairs), and what I loose in YM, I recover in the next day in EU. Yesterday, for example YM trades were came at loss, but those wins in EU made me come with profit in total (4 lots in EU vs 1 in YM). So..i should probably refrain myself from trading YM. i don't know what else to think. But, i'm looking forward to a nice streak of wins on EU now. let's see...
Lol, I suffer a similar fate!!

My normal pattern is win/profit for a few days and then have a self destruct day and lose it all and some more !!

That said, this week was my first in profit since I can remember. I had 3 profit days (Mon-Wed), self destruct day yesterday bringing me back to BE on the week, then up and down today but finished well and up about 30 pips.

So I need to control these self destruct days as they are the only thing holding me back.

Oh and all my trades are on YM
  • #17,870
  • Mar 4, 2016 9:21pm Mar 4, 2016 9:21pm
Quoting Mack2013
EURUSD - 15M Kind of a bigger picture and a little more foreseeing then I like. Can't really make an expectation on the next swing when the current hasn't been establish but heres what I'm thinking..... {image}
Before
Attached Image (click to enlarge)
Click to Enlarge Name: download (21).png Size: 150 KB


Price reacted more violently then expected but all the same , did kind of expected. I was looking for a little bit more of a correction tho. It turned at the 50%. So this is kind of what I'm expecting now.... I wouldn't be trading on this particular expectation tho, I don't have much confidence in this one. Tricky spot. Wait for the finish

Attached Image (click to enlarge)
Click to Enlarge Name: download (22).png Size: 166 KB
  • #17,871
  • Mar 4, 2016 11:03pm Mar 4, 2016 11:03pm
Quoting Mack2013
{quote} Before {image} Price reacted more violently then expected but all the same , did kind of expected. I was looking for a little bit more of a correction tho. It turned at the 50%. So this is kind of what I'm expecting now.... I wouldn't be trading on this particular expectation tho, I don't have much confidence in this one. Tricky spot. Wait for the finish {image}
Nice analysis Mack!
  • #17,872
  • Mar 5, 2016 7:24am Mar 5, 2016 7:24am
Quoting PipTrendz
{quote} No indicators in here. There are no shortcuts to learning this method of trading. You need to put in the time to read the charts and learn through trial and error, probably on a demo account. We don't use indicators or recommend any, naked charts and reading price is what we are about. If you have not been through all the recent education, then you should start with that. Go to the first post and there is a link there. All the recent stuff has not even gone over patterns yet.
ok,
so everything here is subjective?
  • #17,873
  • Mar 5, 2016 10:08am Mar 5, 2016 10:08am
Quoting Mbj
Greetings Traders, I've been a silent follower of this thread since a couple of months. From this point - I'd like to thank Mr. Pip for all his generosity and efforts he has put into this thread. Thanks Damian. I'm very familiar with the concepts you are introducing here - so it fits my way of looking at the markets, however the most phenomenal market behaviour can be observed with breakouts and false brakeouts. These happen all the time on any pair, any instrument. I believe combining orderflow expectations and awareness of false breakouts -...
You have my attention, I have read and studied your posts and attached charts and I'm very interested Could you tell me more or is all I need already explained in those chart examples? Many Thanks
  • #17,874
  • Mar 5, 2016 10:41am Mar 5, 2016 10:41am
Hi, mr.pip
i just got some questions about your previous chart which you introduce your idea of the price action.
My questions are in the chart.
Thank you!
Attached Image (click to enlarge)
Click to Enlarge Name: ASKING MR PIP.jpg Size: 273 KB
Voll Verdienst, doch dichterisch, wohnt der Mensch auf der Erde.
  • #17,875
  • Mar 5, 2016 11:16am Mar 5, 2016 11:16am
Quoting fxderek
Hi, mr.pip i just got some questions about your previous chart which you introduce your idea of the price action. My questions are in the chart. Thank you! {image}
hi, on your chart what does "nsh" and "nsl" means
  • #17,876
  • Mar 5, 2016 1:36pm Mar 5, 2016 1:36pm
Quoting camry
{quote} hi, on your chart what does "nsh" and "nsl" means

NSH= New structure high

NSL= New structure low

http://www.forexfactory.com/showthread.php?p=8723169#post8723169
  • #17,877
  • Mar 5, 2016 1:42pm Mar 5, 2016 1:42pm
Quoting camry
{quote} hi, on your chart what does "nsh" and "nsl" means
hi,camry.these are mr.pip's words. Nsh=new structure high;nsl=new structure low
Voll Verdienst, doch dichterisch, wohnt der Mensch auf der Erde.
  • #17,878
  • Mar 5, 2016 2:49pm Mar 5, 2016 2:49pm
Quoting Ren1058
{quote} You have my attention, I have read and studied your posts and attached charts and I'm very interested Could you tell me more or is all I need already explained in those chart examples? Many Thanks
Goto page 1 post 1Mr pips has posted a link to where its.recommended you start from
  • #17,879
  • Mar 5, 2016 2:56pm Mar 5, 2016 2:56pm
Quoting camry
{quote} hi, on your chart what does "nsh" and "nsl" means
Please get up to date with all the recent lessons before asking these questions.
  • #17,880
  • Mar 5, 2016 5:44pm Mar 5, 2016 5:44pm
Finally had the opportunity to watch all the videos. Each one is full of great content with so much to take away. I can't wait to be back at home and see how my P & L starts to shape out once I start trading again. Thanks for taking time to help us out Mr. Pip!
Damn The Torpedoes, Full Speed Ahead!
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