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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

  • #18,581
  • Mar 24, 2016 7:49am Mar 24, 2016 7:49am
Quoting ujku80
{quote} Well, to tell the truth I was expecting price to continue south making more of the those swings. My Sl was just above that recent swing, so I was risking only like 10 pips, and I had at least a 1:1 RR. anyway, it's part of life. the second trade truly shows the power of harmonics and why is good to trade bearish ABCDs or AB=CDs in a downtrend market.
Ok got it good. Kind of like my trade lol some pre market action since I was bored.
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If you fail to plan, you plan to fail.
  • #18,582
  • Mar 24, 2016 7:52am Mar 24, 2016 7:52am
So here's what I'm looking at today.

Long term expectation is NSL as long term flow is down and won't change until 17436 is broken.

Short term order flow following long term still and won't be broken until 17350 (cyan circle).

Open to comments / critiques.
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  • #18,583
  • Mar 24, 2016 8:43am Mar 24, 2016 8:43am
Quoting Mr. Pip
{quote} Ok got it good. Kind of like my trade lol some pre market action since I was bored. {image}
Precisely
  • #18,584
  • Mar 24, 2016 9:00am Mar 24, 2016 9:00am
My trade ideas:

https://www.tradingview.com/x/7pYV7BJz/

I am looking for shorts here at the 61%-Fib. I took the bearish candle yesterday and got stopped out (should have placed the stop above the 1.300 ) and I took the one today.

https://www.tradingview.com/x/4cgHBPgf/

I am also still looking at EURUSD. Now waiting for bullish price action at the 61%-Fib. Do you think the picture has changed? Is the bearish move too strong to expect the bulls to come in now? I feel like it is losing steam...
  • #18,585
  • Mar 24, 2016 9:18am Mar 24, 2016 9:18am
This move is taking way too long. But should go down so still holding
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  • #18,586
  • Mar 24, 2016 9:34am Mar 24, 2016 9:34am
Tried a couple from the long side. Everyone is extremely short from the overnight session and I'm letting this impact my trade decisions as I think there could be a short squeeze. Hard to let go of this thought today and focus on expectations only.

Also I think I may be too aggressive with stops, but I'm definitely keeping my losses low this way. I'll need to have a look and perhaps try giving them more room to see if it's more beneficial for me.
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  • #18,587
  • Edited 10:06am Mar 24, 2016 9:39am | Edited 10:06am
i m long at dow with tight SL.

Update: Out with profit of 28 pips. My trailing stopped me out. Price reached my expected target level, which would have been much more.
  • #18,588
  • Mar 24, 2016 10:19am Mar 24, 2016 10:19am
short on dow, hoping to see deep retracement.

Update: out with 18 pips
  • #18,589
  • Edited 11:26am Mar 24, 2016 10:36am | Edited 11:26am
long on dow, retest high (at least 23.6 Fib) /break through.

Entry protected by SL +2

Update: taken out

2nd entry: After deep retracement: Long
Update: out for 30 pips

did not re-enter, since price came to far down to go long again. Missed the short.
  • #18,590
  • Mar 24, 2016 11:21am Mar 24, 2016 11:21am
Huh,

Range for 43 pips for eurusd today. Not easy to get any runners. 3 SL and 4 BE. Lets see what the afternoon brings. Risk is anyway only 5 pips.

Cable has been better but was stopped out at BE just before the run up ( Had some countertrend trades there too )

With all this stop outs I feel I was overtrading Maybe I did?
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Trading in the shadow of SM
  • #18,591
  • Edited 11:50am Mar 24, 2016 11:33am | Edited 11:50am
Quoting Earleone
Huh, Range for 43 pips for eurusd today. Not easy to get any runners. 3 SL and 4 BE. Lets see what the afternoon brings. Risk is anyway only 5 pips. Cable has been better but was stopped out at BE just before the run up ( Had some countertrend trades there too ) With all this stop outs I feel I was overtrading Maybe I did? {image} {image}
You have a big patience to trade on 15min kind TF. I couldn't.

Right now I do not have the ideal setup for taking profit versus trailing. Often when I trail, price comes back and I go out with less profit as if I would have gone out on the minimum expected area.
When I do not trail, price runs like hell to extended targets.

I wanted to trade the dax, but it moved strangely (box). Initially I wanted to go in for short (right fibo), but I thought that there big guys doing something, so I skipped.

Tomorrow you will get the losses back
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  • #18,592
  • Mar 24, 2016 11:48am Mar 24, 2016 11:48am
Quoting evocpr19
{quote} You have a big patience to trade on 15min kind TF. I couldn't. Right now I do not have the ideal setup for taking profit versus trailing. Often when I trail, price comes back and I go out with less profit as if I would have gone out on the minimum expectated area. When I do not trail, price runs like hell to extended targets. Tomorrow you will get the losses back
And it is 144 tick charts. Bars takes forever to close .

Yes , same here. I like to trail the trades when I already has locked in profit for the day.

Overall it is not so bad day. I think if I take a 20 pip trade I will be in BE ( covered commissions etc ) . So I am not worried . As long we trade with positive R:R it is a profitable business.
Trading in the shadow of SM
  • #18,593
  • Mar 24, 2016 11:52am Mar 24, 2016 11:52am
Had issues today as well but made back enough to take a small net loss for the day.

I'm upset at the short I tried at 17319 as I thought for sure we were rolling back over. With long term expectation still a NSL, once price broke the swing low that I marked with a cyan horizontal line I took this as short term order flow realigning with long term expectation. Bulls were losing mometum and then bears really picked up momentum going into that short term NSL (cyan arrow). In hindsight I probably should have held off as bulls had 2 big momentum bars coming back up.

The trades I took ~11:40ish for both ES and YM I made it a point to try using wider stops and to give them more time. On YM one failed and one worked. On ES 1 worked out. So it looks like I still need to experiment more with this.

The YM long I tried at 17346 was at the 50 fib which did not work out, however I tried again once it came and touched the 61.8 at 17340 which did work out. So this is reaffirming to me that I have much better luck with waiting until price hits the 61.8-78.6 zone and I should keep my trades limited to that zone.

As always I'm open to comments / criticisms.
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  • #18,594
  • Mar 24, 2016 12:03pm Mar 24, 2016 12:03pm
Quoting jmezz
Had issues today as well but made back enough to take a small net loss for the day. I'm upset at the short I tried at 17319 as I thought for sure we were rolling back over. With long term expectation still a NSL, once price broke the swing low that I marked with a cyan horizontal line I took this as short term order flow realigning with long term expectation. Bulls were losing mometum and then bears really picked up momentum going into that short term NSL (cyan arrow). In hindsight I probably should have held off as bulls had 2 big momentum bars...
Hi,

the long at YM at 50 fib was a bit early. I did it, because I had a pending order and I protected immediatly my entry just in case that there will be an expectation failure and price tries to go up.
I had also a pending order in line with my deep retracement expectation at 61.8 Fib (not 78.6), because of the structure left.

I get bad results, if I wait for candle information which tends to give me opposite information.
  • #18,595
  • Mar 24, 2016 1:01pm Mar 24, 2016 1:01pm
Quoting Earleone
{quote} And it is 144 tick charts. Bars takes forever to close . Yes , same here. I like to trail the trades when I already has locked in profit for the day. Overall it is not so bad day. I think if I take a 20 pip trade I will be in BE ( covered commissions etc ) . So I am not worried . As long we trade with positive R:R it is a profitable business.

And there I got the 20 pips I needed .

So then I end the day -
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Trading in the shadow of SM
  • #18,596
  • Mar 24, 2016 2:14pm Mar 24, 2016 2:14pm
Hello Mr.Pip hello classmate.
This thread really amazing, I'm learning in a very systematic way. I'll make sure I will not jump to another lesson unless everything is clear to me.
From time to time I still review the lessons from the beginning and watch videos again and again.
For the sake of learning I made a list and post number so that it will be easy for me to look for important lessons, I hope it can help my other classmate and for the newcomers to catch up with the lesson.
Currently I'm on the supply and demand lesson.
Thank you very much Mr.Pip for your dedication in teaching. Good luck to everyone!

Mr. Pips Trading Transformation
1) Training rules 15687
2) Trading objectives 15688
3) Lesson 1 Structure 15692
Structure training video 15898
4) Lesson 2 Expectation 15760
Sample Expectation 15763
5) Lesson 3 Complex correction 16015
Complex correction 16236
Complex correction video (file:///C:/Users/lenovo/Videos/mrPIPS%20trading/Complex%20Corrections%20Order%20Flow.flv) 16299
6) Lesson 4 Order Flow Analysis 16041
Video orderflow analysis 16095
Sample 16287
7) Lesson 5 Harmonic expectations 16362
Sample 16363
8) Lesson 6 Supply and demand 16937 (http://www.forexfactory.com/showthread.php?p=8770081#post8770081)
Video supply and demand (file:///C:/Users/lenovo/Videos/mrPIPS%20trading/Supply%20Demand.flv) 16949
Sample 16961
  • #18,597
  • Edited 3:09pm Mar 24, 2016 2:45pm | Edited 3:09pm
Had an up and down day. Went long on the YM in the later half of the day which made up my morning losses. Still holding. Started looking for longs after the NSH made at 11:00 am.

Edit: Closed trade for good Friday holiday. +50 pip for the day.
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  • #18,598
  • Mar 24, 2016 3:11pm Mar 24, 2016 3:11pm
Quoting tatts2020
Had an up and down day. Went long on the YM in the later half of the day which made up my morning losses. Still holding. Started looking for longs after the NSH made at 11:00 am. Edit: Closed trade for good Friday holiday. +50 pip for the day. {image}
Nice man im sure you more than made up for the losses with that trade.

Ive been getting beat up all week.

So im clearing up my trading plan i've been trading a bit wreckless and need a Precise and clear plan on entry and trade management.
  • #18,599
  • Mar 24, 2016 3:17pm Mar 24, 2016 3:17pm
Quoting Timwelch
Good morning everyone! I'm in the hospital for a "spontaneous pneumothorax" (lung collapse). I'll be catching up on the forum when I get time. Just wanted to let everyone know I'm still here. :-) In the meantime, I worked a little on my spreadsheet (I haven't had a chance to look at Mr. Pips forex spreadsheet yet, but I will soon.). On the daily page, I added colors and a little "estimated time to hit next level" based on averaging profit/loss sizes. Still tweaking but it looks fun for now. Remember, it's shared in View only mode, so Use "File->Make...
Feel better Tim! Hope to see some more of your trading soon!
  • #18,600
  • Mar 24, 2016 3:37pm Mar 24, 2016 3:37pm
Hi Fellow traders

I have been struggling a bit as i only have mt4 and i noticed that my charts always looked different than tic charts. I have just downloaded a tic chart for mt4 and added it to my eur/usd and immediately the chart looks so much clearer and easier to identify the NSL,NSH etc. I fully recommend it. Its not free but it is really cheap to buy.
You can get it from rwtickchart.com
Its easy to use. There are free ones available but if you look into them they can be unreliable.
Hope this is of use to mt4 guys.
Happy Easter
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