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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

  • #21,121
  • Nov 10, 2016 9:01pm Nov 10, 2016 9:01pm
Hello Mr. Pip,

As I was discussing with you here is an example of my struggles. I am not able to identify a good entry point. Whenever I think the pullback is over I put in an order only to find out that the retracement was not yet completed. In this example I entered on a very bullish candle in an area of of support (at least I thought it was) only to be followed by a very bearish candle. Here is an example of what I was talking to you about. Thank you so much for your help
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  • #21,122
  • Nov 10, 2016 11:18pm Nov 10, 2016 11:18pm
Quoting LaBoca
{quote} Very nice simple market structure....not complicated but simple mkt structure crazy emoji's can't fine the 'Thumbs Up' emoji so ermmmm Thumps Up lol
Yes just reading the price action, moving with the order flow and grabbing some opportunistic pips from the market.

No need to over-complicate structure analysis ... it only ever needs to be simple after considering all the key factors.

No-one ever said you have to over-complicate matters.

Simply follow chart structure, be aware of the obstacles, enter in the right zone, don't get too greedy and manage your risk.

The beauty and importance of order flow and harmonics in the market cannot be over-stated ... it is pure genius.

Masterrmind...........
Master your Mind then Master your Trades
  • #21,123
  • Nov 10, 2016 11:26pm Nov 10, 2016 11:26pm
Quoting Mr. Pip
{quote} Nice to see you around my friend.
Always a pleasure to frequent your thread Damian.

Great to see you active here ... a thread always needs its captain!

Lets smash out some highly profitable trades shall we?!

Masterrmind............
Master your Mind then Master your Trades
  • #21,124
  • Nov 10, 2016 11:41pm Nov 10, 2016 11:41pm
EU [M5 Chart]

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Looking for a possible long entry with about a 12-15 pip stop and a 30-35 pip TP.

Not yet convinced since the PA is almost stationary.

What I would like to see is at least some bullish intent to the upside because as I see this pair price could easily go either direction.

Therefore, I wait and I only observe.

Masterrmind.........
Master your Mind then Master your Trades
  • #21,125
  • Nov 11, 2016 12:04am Nov 11, 2016 12:04am
Quoting Masterrmind
EU [M5 Chart] {image} Looking for a possible long entry with about a 12-15 pip stop and a 30-35 pip TP. Not yet convinced since the PA is almost stationary. What I would like to see is at least some bullish intent to the upside because as I see this pair price could easily go either direction. Therefore, I wait and I only observe. Masterrmind.........
EU

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Now long 4 lots.

Reduced lots due to a "feeling" of uncertainty in this trade and I wanted to reduce risk.

Should price decide to show aggressive bearish intent then expect to see the trade terminated for a loss.

Masterrmind...........
Master your Mind then Master your Trades
  • #21,126
  • Nov 11, 2016 12:10am Nov 11, 2016 12:10am
Quoting Mr. Pip
Okay Traders, Tomorrow I will be live at around 0900 Eastern Time. I will be posting the live link here in the thread. Look for it in the morning. It will not be a live trading event but one will be coming. I cannot rule out taking a trade or two but the focus will be to address the issues you all are struggling with and answer questions on new questions that come up. I will be covering these topics these topics and tomorrow with the link to the live stream I will be posting the outline but roughly we will be discussing Forcing Trades Stop Management...
That is a great list of topics. I will definitely be there and try to get the most out of it. Thank you very much for doing this for us, it's a great opportunity!
  • #21,127
  • Nov 11, 2016 1:24am Nov 11, 2016 1:24am
Quoting Masterrmind
{quote} EU {image} Now long 4 lots. Reduced lots due to a "feeling" of uncertainty in this trade and I wanted to reduce risk. Should price decide to show aggressive bearish intent then expect to see the trade terminated for a loss. Masterrmind...........
EU

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Closed out 2 small trades for some profit.

Masterrmind...........
Master your Mind then Master your Trades
  • #21,128
  • Nov 11, 2016 1:58am Nov 11, 2016 1:58am
Quoting evocpr19
{quote} yes I used the chat function of the Ninja website. They said that it is true for CQG (for existing customer only). If I had buyed Ninja 1 years ago, it would be no problem. I have either to search another brooker or to take the in-house software of the brooker. I wish only to have a real tick chart in front of me and not an emulated tick chart based on CFD.
I'm in EU, using IG and they offer https://www.prorealtime.com/en/ which works fine for me and it's free for active users. I trade CFD on YM (called Wall Street on their site) 233 tick charts.
Rise and rise again until lambs become lions
  • #21,129
  • Nov 11, 2016 4:02am Nov 11, 2016 4:02am
My two trades this morning on FTSE. Simple and sticking with the method, took advantage of bear strength.

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  • #21,130
  • Nov 11, 2016 6:27am Nov 11, 2016 6:27am
EURUSD [M5 Chart]

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Looking for possible shorting opportunity.

If price manages to get back up near the 786 Fib just under the DO line then it would be very ideal.

Observation time!

ps. Certainly happy about the exit I made on the previous long entry ... call it good fortune if you will.

Masterrmind............
Master your Mind then Master your Trades
  • #21,131
  • Nov 11, 2016 6:41am Nov 11, 2016 6:41am
Quoting Masterrmind
EURUSD [M5 Chart] {image} Looking for possible shorting opportunity. If price manages to get back up near the 786 Fib just under the DO line then it would be very ideal. Observation time! ps. Certainly happy about the exit I made on the previous long entry ... call it good fortune if you will. Masterrmind............
EU

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Price at a mini-S level.

I'm fine with either price continuing down or getting bounced back up higher for my short opportunity.

At this stage I am unsure if I would enter below this mini-S level and follow price down ... probably not at this stage.

Missed too much of the move and getting in short now lends itself to additional and possibly unnecessary risk.

Its sensible to wait for a 'better' setup at least in terms of risk to reward.

Masterrmind............
Master your Mind then Master your Trades
  • #21,132
  • Nov 11, 2016 7:05am Nov 11, 2016 7:05am
Quoting Masterrmind
{quote} EU {image} Price at a mini-S level. I'm fine with either price continuing down or getting bounced back up higher for my short opportunity. At this stage I am unsure if I would enter below this mini-S level and follow price down ... probably not at this stage. Missed too much of the move and getting in short now lends itself to additional and possibly unnecessary risk. Its sensible to wait for a 'better' setup at least in terms of risk to reward. Masterrmind............
EU

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Price nearing the 786 level now.

Decision time very soon.

What I'd like to see is some nice bearish intent to the downside.
Failing that I will sit and observe PA.

Masterrmind...........
Master your Mind then Master your Trades
  • #21,133
  • Nov 11, 2016 7:08am Nov 11, 2016 7:08am
Quoting Masterrmind
{quote} EU {image} Price nearing the 786 level now. Decision time very soon. What I'd like to see is some nice bearish intent to the downside. Failing that I will sit and observe PA. Masterrmind...........
EU

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Strong bullish intent!

Masterrmind............
Master your Mind then Master your Trades
  • #21,134
  • Nov 11, 2016 7:49am Nov 11, 2016 7:49am
Hello Traders,

Trying to get this live stream going we may have to minor issues but we will get it going here is the link

rtmp://a.rtmp.youtube.com/live2
If you fail to plan, you plan to fail.
  • #21,135
  • Nov 11, 2016 7:59am Nov 11, 2016 7:59am
Try this one
https://youtu.be/ygm030_v94s
If you fail to plan, you plan to fail.
  • #21,136
  • Nov 11, 2016 10:33am Nov 11, 2016 10:33am
Much appreciated Damian!

I missed a portion of the beginning so I'll wait until it's uploaded to check what I missed.
  • #21,137
  • Nov 11, 2016 10:42am Nov 11, 2016 10:42am
Hello Trades,

We just wrapped up the Live Stream. I hope it has value and addresses the topics needed. Please provide feedback and what else need to be covered.

https://youtu.be/ygm030_v94s
If you fail to plan, you plan to fail.
  • #21,138
  • Nov 11, 2016 10:59am Nov 11, 2016 10:59am
Quoting Mr. Pip
Hello Trades, We just wrapped up the Live Stream. I hope it has value and addresses the topics needed. Please provide feedback and what else need to be covered.
Thanks Damian . . . i am a silent student of your teaching and the latest live stream was great. Your efforts are greatly appreciated.

Best,
N.
  • #21,139
  • Nov 11, 2016 11:02am Nov 11, 2016 11:02am
good thoughts Damian
It's a dirty job but someone's gotta do it!
  • #21,140
  • Nov 11, 2016 11:18am Nov 11, 2016 11:18am
Quoting jlares
Hello Mr. Pip, As I was discussing with you here is an example of my struggles. I am not able to identify a good entry point. Whenever I think the pullback is over I put in an order only to find out that the retracement was not yet completed. In this example I entered on a very bullish candle in an area of of support (at least I thought it was) only to be followed by a very bearish candle. Here is an example of what I was talking to you about. Thank you so much for your help {image}
This will happen at times but you have to consider what is reasonable for price to do. In your chosen example price broke expectation to produce a NSH the expectation from this since is is a failure is for a deep correction. The momentum and volume heading up would lead to to believe that price would not correct too deep. Knowing that your risk was greater because of the great rotation at the shallow structure and the size of the main swing you could have scaled in or wait to see if price was going to correct deeper. Also after an expectation failure price often has complex corrections and the second leg is mush stronger then the first. Proper stop placement is also important. Watch the live stream I did today and see if it helps.
If you fail to plan, you plan to fail.
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