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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

  • #18,701
  • Mar 30, 2016 5:01am Mar 30, 2016 5:01am
Quoting Earleone
{quote} Well done, nice trading . I was targeting 1.4460 level and was stopped out twice on not so good entries, atleast not the first one. Was still long with SL only 3 pips the third try after NSL that I got out from in BE on bearish strength where I also switched to short for the retracement. I got 26 pip from that because late entry for my short. {image}
Thanks, you awell! Its a good feeling I'm on the same point as you are in terms of expectations.
  • #18,702
  • Edited 5:23am Mar 30, 2016 5:12am | Edited 5:23am
Quoting ujku80
{quote} the way you trade, which is similar to rocky (if not not exact) is impressive you know. This style is more suitable for G/U than E/U I think. Keep up the good work. I think Damian just got a student on his side of the fence (if you weren't there before).
Thank you . Yes cable ( G/U ) is more volatile then E/U . Absolutly on Damians side of the fence. Has learned a lot and more to come and we develope as traders to the better . Rocky trade other instruments what I have seen where he has access to real volume ( We only has ticks for forex ) . I take scalp entries for trades that has potential to gain much more pips then I risk.
Are only at the start with Damians method and I think we all will develop to the better traders in the coming months

BTW Nice trade you has going on the E/U ( Ahh, I saw you was stopped out at BE ) I am also short on E/U still 5 pips risk. But good R:R down to my target still need some space before I can lock in BE. And yes trend is still up on most TF so it is risky Countertrend based on that but I am here to trade and when risk reward is good and expectation on micro level follow up I try .
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Trading in the shadow of SM
  • #18,703
  • Mar 30, 2016 5:29am Mar 30, 2016 5:29am
Quoting Earleone
{quote} Thank you . Yes cable ( G/U ) is more volatile then E/U . Absolutly on Damians side of the fence. Has learned a lot and more to come and we develope as traders to the better . Rocky trade other instruments what I have seen where he has access to real volume ( We only has ticks for forex ) . I take scalp entries for trades that has potential to gain much more pips then I risk. Are only at the start with Damians method and I think we all will develop to the better traders in the coming months BTW Nice trade you has going on the E/U...
Yes, definitely we'll get better the more we work in this business. There were some studies saying that to become a professional in whatever you do, it would take typically 10 years (according to some) or 10000 hours of dedication (according to others). long story short is that, more time you spend better you become and eventually you become really good that you can be considered as a pro in that job. which is where Damian is with trading now.

Quoting Earleone
{quote}BTW Nice trade you has going on the E/U
Yeah, i closed that one with little profit as it was against long term order flow and price could have jumped up again from that 50% retrace. So, looking to go long at better prices. good luck and happy trading.
  • #18,704
  • Mar 30, 2016 5:29am Mar 30, 2016 5:29am
Quoting kaboemm
{quote} Thanks, you awell! Its a good feeling I'm on the same point as you are in terms of expectations.
Yes . Very similar. Are you in on E/U too?
Trading in the shadow of SM
  • #18,705
  • Mar 30, 2016 5:38am Mar 30, 2016 5:38am
Quoting ujku80
{quote} Yes, definitely we'll get better the more we work in this business. There were some studies saying that to become a professional in whatever you do, it would take typically 10 years (according to some) or 10000 hours of dedication (according to others). long story short is that, more time you spend better you become and eventually you become really good that you can be considered as a pro in that job. which is where Damian is with trading now. {quote} Yeah, i closed that one with little profit as it was against long term order flow and price...
I should be close to the 10.000 hours . Atleast if I take testing/developement and trading with Expert Advisors ( robots ) in to count. For Maual trading I think around 5000 Hours and continue. ( Actually I been profitable the last 2 years but with small accounts and ( averaging up/down / martingale etc that I have stopped ) I feel more confident now with implementing Damians methods to my trading and risk bigger amount for the single trade. Still need some time for trading psychology and statistics over some longer periods to come close to Damians level . .
Trading in the shadow of SM
  • #18,706
  • Mar 30, 2016 5:40am Mar 30, 2016 5:40am
No, I missed that one. Unfortunately, I still have a day job. I work in IT so I have the privilege to have my laptop next to me all the time, but some times I have to move from my place and I miss trades hehe
  • #18,707
  • Mar 30, 2016 6:01am Mar 30, 2016 6:01am
Quoting Earleone
{quote} I should be close to the 10.000 hours . Atleast if I take testing/developement and trading with Expert Advisors ( robots ) in to count. For Maual trading I think around 5000 Hours and continue. ( Actually I been profitable the last 2 years but with small accounts and ( averaging up/down / martingale etc that I have stopped ) I feel more confident now with implementing Damians methods to my trading and risk bigger amount for the single trade. Still need some time for trading psychology and statistics over some longer periods to come close...
well, the moment i saw the way you trade i realize we have a pro on board . no seriously though. You trade with such lack of fear and as smooth as i can only dream about. It's good for me and other novice traders alike, to be on the same page with professionals like you and rocky and other (in addition to our Master Damian).

Btw, I'm long on E/U now. We had a complex corrections which completed with a 1/1 and now price should head north again and continue trend. let's see if that happens.
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  • #18,708
  • Mar 30, 2016 6:31am Mar 30, 2016 6:31am
Quoting ujku80
{quote} well, the moment i saw the way you trade i realize we have a pro on board . no seriously though. You trade with such lack of fear and as smooth as i can only dream about. It's good for me and other novice traders alike, to be on the same page with professionals like you and rocky and other (in addition to our Master Damian). Btw, I'm long on E/U now. We had a complex corrections which completed with a 1/1 and now price should head north again and continue trend. let's see if that happens. {image}
Thank you for compliments. I still learn and develop and do mistakes but I do actually more right then wrong and if we can sharpen that edge with some additional percents it will be nice .

I am also long E/U ( And cable ) sacrifised the 5 pips on E/U and was getting in long again with only 5 pips risk and has now locked to BE
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  • #18,709
  • Edited 7:33am Mar 30, 2016 7:22am | Edited 7:33am
Taken out at trailstop for cable and E/U
Cable 21.5 pips ( I took a loser with to early entry the long , for second entry I also had 10 pips risk.
For E/U was close to target ( 5 pips away ) and it retraced and I was taken out giving me BE for E/U for the day while for Cable I am up appr 19 pips for the day.

And ofcourse they turn and pop up after my Trailstops are taken out . Its trading and holding on to the trades during news
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Trading in the shadow of SM
  • #18,710
  • Mar 30, 2016 7:36am Mar 30, 2016 7:36am
Quoting Mack2013
{quote} Hello Hello I'll do my best to answer your questions. I'll have to do them in segments so the charts not to messy so sorry to the contributors and Mr.Pip for the clutter. This is just my perspective as I did a market replay for this pair "The blue move reached a clear NSL and from there we a looking for a correction and further shorts. In my opinion the three blue arrows present such short opportunities. Now I understand that it is all about probability and with tight stops and a good risk-reward the one successful trade erases the two failed...
Thank you for posting this!
  • #18,711
  • Mar 30, 2016 8:40am Mar 30, 2016 8:40am
Quoting Earleone
Taken out at trailstop for cable and E/U Cable 21.5 pips ( I took a loser with to early entry the long , for second entry I also had 10 pips risk. For E/U was close to target ( 5 pips away ) and it retraced and I was taken out giving me BE for E/U for the day while for Cable I am up appr 19 pips for the day. And ofcourse they turn and pop up after my Trailstops are taken out . Its trading and holding on to the trades during news {image} {image}
Nice trades again. Too bad about E/U however.

Took short E/U 233 a few moments ago on the red arrow. SL about 10 pips.
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Moved to BE when price did test NSL and structure.

A few moments later when priced dropped I moved to BE + 5 (Its the red painted line, don't have picture for this moment).
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Taken out at BE + 5.


Also: Any comments on my entries, analyses and trading overall would be greatly appreciated.
  • #18,712
  • Mar 30, 2016 9:13am Mar 30, 2016 9:13am
Quoting kaboemm
{quote} Nice trades again. Too bad about E/U however. Took short E/U 233 a few moments ago on the red arrow. SL about 10 pips. {image} Moved to BE when price did test NSL and structure. A few moments later when priced dropped I moved to BE + 5 (Its the red painted line, don't have picture for this moment). {image} Taken out at BE + 5. Also: Any comments on my entries, analyses and trading overall would be greatly appreciated.
5 pips is pips too

I was going countertrend on E/U lost 8 pips. ( Long trade ) So better with BE and 5 pips .
Same for Cable ( countertrend ) and got 22.8 pips ( risk was around 10 Pips ) Was trailing very aggresive bar by bar and taken out the test previous NSH. Think it will make NSH for the day.
Bias for both are anyway long on most timeframes so I did feel comfortable going against short term ordererflow also taking R:R in to consideration.

Most traders trading on 15M - 30 M 1H and 4H wait for retracement to come in long on eur/usd and cable so I did not consider shorts again at the levels around round numbers ( cable 1.44 and Euro 1.13 since IMO limited how much below they would go )
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  • #18,713
  • Mar 30, 2016 9:14am Mar 30, 2016 9:14am
Trading after a long time.... lets see
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  • #18,714
  • Mar 30, 2016 9:47am Mar 30, 2016 9:47am
Hello everyone,

EURUSD 15M

First round:

Buy @ 1.1316
TP-1.1399 (expecting for the same projection)
SL-1.1280 (just below previous support)
SL-MOVED @ 1.1321 (LOCKED +5 BE)
STOPPED OUT = +5 PTS

2nd Round: Still expecting for NSH
Price touched the 61.8 and shows a good bar for long entry
BUY @ 1.1313
TP-1.1350 (expecting for the same projection from last swing)
SL-1.1300 (below turning point giving me a good RR)
SL-MOVED @ 1.1323 (LOCKED 10PTS)
I'm about to.moved my TP to another extension but the market is climbing very fast that it already hit my target.
=+37

+42pts for today

The lesson for me today is good market entry by applying the bar&bar analysis.
That's all for me today.
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  • #18,715
  • Mar 30, 2016 1:53pm Mar 30, 2016 1:53pm
Quoting Earleone
{quote} 5 pips is pips too I was going countertrend on E/U lost 8 pips. ( Long trade ) So better with BE and 5 pips . Same for Cable ( countertrend ) and got 22.8 pips ( risk was around 10 Pips ) Was trailing very aggresive bar by bar and taken out the test previous NSH. Think it will make NSH for the day. Bias for both are anyway long on most timeframes so I did feel comfortable going against short term ordererflow also taking R:R in to consideration. Most traders trading on 15M - 30 M 1H and 4H wait for retracement to come in long on eur/usd...
Impressive trading. Congrats! Also very nice use of the trend line - it is easy for me to lose sight of this instrument, because Mr. Pip does not use it, but this was very effective use.

The blue lines are just from low to high and serve no purpose or do they?
  • #18,716
  • Mar 30, 2016 1:55pm Mar 30, 2016 1:55pm
Hi all

I am new to this thread, been reading through and watching since the start of the recent lessons Mr Pip has been producing. I have to say I am enjoying it very much so far.

If anyone has time, does this Structure and Order Flow analysis look correct for current m15 EU? I have not yet made it past the Order Flow lessons so This is all I am analysing at the moment. Thanks in advance

https://www.tradingview.com/x/RxiPLD2M/

Stuart
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  • #18,717
  • Mar 30, 2016 2:06pm Mar 30, 2016 2:06pm
Also

Here is UJ, also m15. Any comments are appreciated.

Thanks

Stuart
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  • #18,718
  • Mar 30, 2016 2:51pm Mar 30, 2016 2:51pm
Quoting stavrogijn
{quote} Impressive trading. Congrats! Also very nice use of the trend line - it is easy for me to lose sight of this instrument, because Mr. Pip does not use it, but this was very effective use. The blue lines are just from low to high and serve no purpose or do they?
Thank you

The blue lines . First one is momentum, second one copy of first with expectation how far we can expect price to go next push up it was in line also with fib ext 23.6 . Price actually reached that level and even passed it with 12 pips .
Trading in the shadow of SM
  • #18,719
  • Mar 30, 2016 3:00pm Mar 30, 2016 3:00pm
Quoting Earleone
{quote} 5 pips is pips too I was going countertrend on E/U lost 8 pips. ( Long trade ) So better with BE and 5 pips . Same for Cable ( countertrend ) and got 22.8 pips ( risk was around 10 Pips ) Was trailing very aggresive bar by bar and taken out the test previous NSH. Think it will make NSH for the day. Bias for both are anyway long on most timeframes so I did feel comfortable going against short term ordererflow also taking R:R in to consideration. Most traders trading on 15M - 30 M 1H and 4H wait for retracement to come in long on eur/usd...
Hello Earleone,

I saw yesterday and today that you entered in the market following the expectation, although the retractment (bar by bar) seems strong.

I have trouble with this kind of movement. Can you help me please?
How do you read it? What are your thought?

Thank you,
Gaston
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  • #18,720
  • Mar 30, 2016 3:50pm Mar 30, 2016 3:50pm
Quoting gastonforex
{quote} Hello Earleone, I saw yesterday and today that you entered in the market following the expectation, although the retractment (bar by bar) seems strong. I have trouble with this kind of movement. Can you help me please? How do you read it? What are your thought? Thank you, Gaston {image}
Hi Gastonforex.
Price sometimes takes stairs up and elevator down Many countertrend traders. Cable often goes to 76.4 retracement to on microscale swings.
When I see bars much bigger then the average I also analyse where they are and often you will see very big bars in the end and beginning of movement if there is no other obvious reason for the size of the bar ( News etc ) . And as you see I had an entry on the top of that move too. I did not expect the strong retracement that was coming and took a 10 pips loss there. It became an HL and I was willing to risk additional 10 pips to come in to the expected move up which I did and this time succeeded.
I am quick in because if I wait my SL will be so much bigger if I wait additional bar in case like this so it can be expensive to go in and here I was unsure and waited actually with my entry to the second bullish bar that also was showing strength.
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