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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

  • #18,241
  • Mar 15, 2016 5:55pm Mar 15, 2016 5:55pm
Quoting Matiasfx
{quote} No apologies needed man, take your time, we all have priorities, focus of yours first, then we can go ahead. In the meantime we have a lot to focus on and practice while we wait. Thanks
If you fail to plan, you plan to fail.
  • #18,242
  • Mar 15, 2016 7:18pm Mar 15, 2016 7:18pm
Quoting Mr. Pip
I'm sorry I have been a bit lost this week Traders, I've been real busy this week with family commitments and have not traded much or posted much as well. I am going to try to put together the money management video this week but don't hold your breath on that one. Be patient with me and keep perfecting your skills. Polish those crystal balls.
no worries. hope all is good
  • #18,243
  • Mar 16, 2016 12:12am Mar 16, 2016 12:12am
Dear Mr. Pip,

Thanks a lot for the great work you are doing here.

I believe still we didn't get training videos for patterns. Like Gartley, Bat etc. Let me know if I am missing something?
  • #18,244
  • Mar 16, 2016 2:56am Mar 16, 2016 2:56am
Quoting ramkirshnava
Dear Mr. Pip, Thanks a lot for the great work you are doing here. I believe still we didn't get training videos for patterns. Like Gartley, Bat etc. Let me know if I am missing something?
step back a moment, work on the current stuff that mr P has set out. It is not something you will perfect overnight, it taes practice, but if you do, it will pave the way for profitability.

The harmonic patterns will come, but they are the icing, not the cake!
  • #18,245
  • Mar 16, 2016 4:50am Mar 16, 2016 4:50am
Quoting ramkirshnava
Dear Mr. Pip, Thanks a lot for the great work you are doing here. I believe still we didn't get training videos for patterns. Like Gartley, Bat etc. Let me know if I am missing something?
We will get to them but the foundations comes first. I want you to understand that the patterns are setups and like all setups some will work and some will not' If you are able to process the information on the chart with accuracy and confidence then you become empowered to make better decisions and determine which setups are worth taking and which are not.
If you fail to plan, you plan to fail.
  • #18,246
  • Mar 16, 2016 4:50am Mar 16, 2016 4:50am
Quoting rolandW
{quote} step back a moment, work on the current stuff that mr P has set out. It is not something you will perfect overnight, it taes practice, but if you do, it will pave the way for profitability. The harmonic patterns will come, but they are the icing, not the cake!
If you fail to plan, you plan to fail.
  • #18,247
  • Mar 16, 2016 5:11am Mar 16, 2016 5:11am
First trade of the day. I shot for a 2:1 target, and it just barely hit the target around 8:08am. I wanted to get clear of the market for the 8:30am news, now I'll watch where price goes with the news and get in sometime after it settles down.

This is the EURUSD 161 tick.

Check out the harmonics at play! :-)

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Markets can remain irrational longer than you can remain solvent - JMK
  • #18,248
  • Mar 16, 2016 5:15am Mar 16, 2016 5:15am
Quoting Mr. Pip
{quote} The important thing is what is yours. I see lots of traders ask these types of question and it is a really poor measure to what you want to know. Performance will very so much between traders that it becomes an inaccurate way to determine anything. Let's find out what your issues are? What is your drawdown? what is causing it? Bad stop placement? Timing is off? Not reading the chart properly? Then, once we know what the issues are we can correct those issues and this will improve the draw down situation. But you are not going to get anything...
Yes it does make sense.

I was asking because it appears most people trading the YM are using the 233tick chart and it looks like they are taking the same setups, so I thought it wouldn't be a bad sample group to get a ballpark figure from. If everyone was using different timeframes then I wouldn't have bothered.

I am thinking of jumping to futures however am on a smaller account, so using a $150-$200 stop is unnerving.

Regardless, I've started papering them so that will be the best gauge.

Thanks again.
  • #18,249
  • Mar 16, 2016 5:22am Mar 16, 2016 5:22am
Quoting Timwelch
First trade of the day. I shot for a 2:1 target, and it just barely hit the target around 8:08am. I wanted to get clear of the market for the 8:30am news, now I'll watch where price goes with the news and get in sometime after it settles down. This is the EURUSD 161 tick. Check out the harmonics at play! :-) {image}
Nice, I took the same trade, allbeit off the 5 min off retest of sturcture, but still open for me as it missed my TP by 0.8 pips!

Lets see i if gets back up and takes my TP out... I also have a longer term (4hr) trade open as a long as well!
  • #18,250
  • Mar 16, 2016 5:24am Mar 16, 2016 5:24am
Quoting jmezz
{quote} Yes it does make sense. I was asking because it appears most people trading the YM are using the 233tick chart and it looks like they are taking the same setups, so I thought it wouldn't be a bad sample group to get a ballpark figure from. If everyone was using different timeframes then I wouldn't have bothered. I am thinking of jumping to futures however am on a smaller account, so using a $150-$200 stop is unnerving. Regardless, I've started papering them so that will be the best gauge. Thanks again.
If you fail to plan, you plan to fail.
  • #18,251
  • Mar 16, 2016 5:30am Mar 16, 2016 5:30am
Quoting jmezz
{quote} Yes it does make sense. I was asking because it appears most people trading the YM are using the 233tick chart and it looks like they are taking the same setups, so I thought it wouldn't be a bad sample group to get a ballpark figure from. If everyone was using different timeframes then I wouldn't have bothered. I am thinking of jumping to futures however am on a smaller account, so using a $150-$200 stop is unnerving. Regardless, I've started papering them so that will be the best gauge. Thanks again.
This suggests that if you are unnerved before you have even started, it is probably not right at this moment...

what i would probably say is that if you need to ask what the DD is, then you are not in a position to start on the futures yet.

However..... I use the 233 tick chart for the analysis, and use MT4 to place the trades.. There are pros and cons to this - the YM (or the DJ on FXpro) has a spread of 5 points (massive on the 233 tick/5 min) BUT allows you to trade 0.01 lots (or contracts).

You could always look at trying the 610 tick or 987 which I believe would be roughly the 15 min (not compared this by the way) to do away with the spread issue...
  • #18,252
  • Mar 16, 2016 6:15am Mar 16, 2016 6:15am
Hello Traders,

Money management can be a very simply formula vs extremely complex formulas but the bottom line is that it should be a formula that takes into account the kind of trader you are. I say this because the balance on you account whether gaining or losing will be a major factor on emotional control. We want those emotions as far away as possible from your process. So your money management strategy need to compliment your expectancy. It also needs to compliment your emotional tolerances from DD as well as gains.

Money management is suppose to help protect the account at all times from the losses and from you the traders when you enter into undisciplined trading or stack some losses which will happen to everyone. I should be designed to create efficiency in recovery and building equity. It is generally a boring subject they traders say they have one but very few use it religiously.

It is important for you to understand that a professional trader takes money management very seriously and does not cut corners here. There are three very important components that make up a successful trader. The strategy which is the least important, trade state which is your psychological and emotional control more important than the strategy and the most important money management which is the last line of defense for you capital.

As important as this is, it doesn't mean that it need to be an incredibly difficult process. As you already know I believe in efficiency and simplicity.
I want a formula that is aggressive on both ends or the spectrum in a DD phase and in a gaining phase. Fixed ratio formulas work but are not ideal for creating efficiency. They work well but take a very long time to build an account and that is not efficient.

The markets are dynamic and very efficient so it is my belief that your money management should have those same qualities, that is why I use the smooth ration formula it is very aggressive on both end recovery and building. I have posted this in the past but will do this again they are two articles on money management and smooth ratio. Later today or tomorrow I will have that video up for you.
Attached File(s)
File Type: pdf DCASTFX_fixed_ratio_money_management.pdf   49 KB | 2,052 downloads
File Type: pdf DCASTFX_smoothed_ratio_money_management.pdf   664 KB | 1,427 downloads
If you fail to plan, you plan to fail.
  • #18,253
  • Mar 16, 2016 6:21am Mar 16, 2016 6:21am
AUDNZD 4H/D1 looks pretty much overbought. What do you think?
<D1>
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<4H>
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Simplicity is the ultimate sophistication - Leonardo da Vinci
  • #18,254
  • Mar 16, 2016 6:22am Mar 16, 2016 6:22am
Thank you ,Sir!
  • #18,255
  • Mar 16, 2016 6:24am Mar 16, 2016 6:24am
Quoting heispark
AUDNZD 4H/D1 looks pretty much overbought. What do you think? <D1> {image} <4H> {image}
Lots of strength heading into that PRZ but on the other hand really nice supply zone to help out. I would manage this more aggressively.
If you fail to plan, you plan to fail.
  • #18,256
  • Edited 7:13am Mar 16, 2016 6:34am | Edited 7:13am
EURUSD - 1M

Short on a weak PB - First posted trade in a long time. Looks like I got in early. I was looking at the little green box for entry but got in a little early. Didn't think price would get there.

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Edit: B/E
  • #18,257
  • Mar 16, 2016 6:51am Mar 16, 2016 6:51am
Quoting Mack2013
EURUSD - 3M Short on a weak PB - First posted trade in a long time. Looks like I got in early. I was looking at the little green box for entry but got in a little early. Didn't think price would get there. {image}
I'm in the same trade Stop is at BE. I found that the 3m timeframe is very similar to the 233 tick chart.
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  • #18,258
  • Mar 16, 2016 7:19am Mar 16, 2016 7:19am
Hey guys im in this one curently looking a little slow but lets see what happens
Attached Image (click to enlarge)
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  • #18,259
  • Mar 16, 2016 7:22am Mar 16, 2016 7:22am
Quoting lKeithStone
{quote} I'm in the same trade Stop is at BE. I found that the 3m timeframe is very similar to the 233 tick chart. {image}
I made a typo. I posted the 1 min chart but I was monitoring the 3 min. It just took into account what I was looking at better.

Hopefully your still in. I got taking at B/E. The swing looks very weak and I was tempted to give it a little bit more room but rules are rules. Still think its going down even tho NSL was weak and the correction is deep.
  • #18,260
  • Mar 16, 2016 7:23am Mar 16, 2016 7:23am
Quoting SteeP7
Hey guys im in this one curently looking a little slow but lets see what happens {image}
crude oil Inventories out in 8 M
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