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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

  • #22,121
  • Dec 2, 2016 11:26am Dec 2, 2016 11:26am
Quoting Mr. Pip
Would of been a nice trade. Discipline! {image}
tough call. kind of the same predicament that i was in yesterday. you gave it tons of patience.
  • #22,122
  • Dec 2, 2016 12:23pm Dec 2, 2016 12:23pm
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  • #22,123
  • Dec 2, 2016 1:22pm Dec 2, 2016 1:22pm
Quoting rocky
{image}
nice trading cha ching! cha ching!
  • #22,124
  • Dec 2, 2016 1:53pm Dec 2, 2016 1:53pm
Quoting Mr. Pip
Well two days into the month of December and I have 41 points yesterday and an undisciplined 7 today total count 48 points. Only still trading 4 contracts I feel like the market is still crap. Don't feel good getting up to the usual yet but I might bump it up next week a bit. Trading small change to still stay active. Heading out to lunch talk to you all soon.
Hey Damian,

Why not trade US treasury Futures and silver or gold futures.

Much better trending environment in those instruments at the moment.
  • #22,125
  • Dec 2, 2016 2:12pm Dec 2, 2016 2:12pm
Quoting Mr. Pip
Remember the live stream on December 15 0915. I will be trading live on my real account and talking out loud what's going through my mind. Make sure you are there. Open to everyone FREE. I will post the link to the stream here that morning.
Hello Mr. Pip,

Will you be posting the completed video afterwards for those that can't attend the live feed?
  • #22,126
  • Dec 2, 2016 2:36pm Dec 2, 2016 2:36pm
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  • #22,127
  • Edited 4:15pm Dec 2, 2016 3:05pm | Edited 4:15pm
@rocky, Jmezz: Congrats

Mr. Pip,

I have a question concerning the price action of YM today.

1) I was looking for long entries: However I missed the entry (first box) and honestly I was not expecting such a drop, but I thought that it is more a fake out. The second entry would have been during the time where you shorted (I was not sure anymore, so I did nothing).

2) I understand your entry, but I would like to know when would have changed your mind (in case price would not have turned in your favour; price went higher then "immediate main swing") and exit for a loss?; If I were in at your place of entry, I would have exit with loss.

Nevertheless, I enjoyed to watch and to follow your think process.
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  • #22,128
  • Dec 2, 2016 3:22pm Dec 2, 2016 3:22pm
Us30 -89t

+23
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  • #22,129
  • Dec 2, 2016 9:29pm Dec 2, 2016 9:29pm
Quoting x3m-PippiN
A little question... I've noticed that many times when there is an expectation failure price does not make a deep pullback like expected but rather makes a very shallow correction and continues on its way. I've been missing a lot of these setups because I get stuck in the mindset that I should wait for price to come to me (deep correction). I had a little discussion with Jmezz on this topic somewhere in the thread but I didn't draw a conclusion for myself. What are your thoughts on this? Edit: Also price didn't reach a 1:1 completion on the short...
The expectation is just that and expectation. You must consider other factors like strength and weakness. Did the failure happen with strength? What did the momentum look like? Volume? Projection? And the most important where is the structure support/resistance. If you need me to show a chart let me know and I will put one together.
If you fail to plan, you plan to fail.
  • #22,130
  • Dec 2, 2016 9:31pm Dec 2, 2016 9:31pm
Quoting x3m-PippiN
{quote} Basically I have to get better at evaluating the depth of an expected pullback by evaluating first the momentum, structure, strength/weakness of bears/bulls showing in bars etc etc and not depend solely on "textbook" setups. Thanks for the input.
Very important! no tunnel vision. Situational awareness is super important.
If you fail to plan, you plan to fail.
  • #22,131
  • Dec 2, 2016 9:35pm Dec 2, 2016 9:35pm
Quoting SteeP7
{quote} Hey Damian, Why not trade US treasury Futures and silver or gold futures. Much better trending environment in those instruments at the moment.
I'll take a look at them thanks. Maybe I will.
If you fail to plan, you plan to fail.
  • #22,132
  • Dec 2, 2016 9:36pm Dec 2, 2016 9:36pm
Quoting jlares
{quote} Hello Mr. Pip, Will you be posting the completed video afterwards for those that can't attend the live feed?
Yes I will.
If you fail to plan, you plan to fail.
  • #22,133
  • Dec 2, 2016 9:47pm Dec 2, 2016 9:47pm
Quoting evocpr19
@rocky, Jmezz: Congrats Mr. Pip, I have a question concerning the price action of YM today. 1) I was looking for long entries: However I missed the entry (first box) and honestly I was not expecting such a drop, but I thought that it is more a fake out. The second entry would have been during the time where you shorted (I was not sure anymore, so I did nothing). 2) I understand your entry, but I would like to know when would have changed your mind (in case price would not have turned in your favour; price went higher then "immediate main swing")...
The market had spoken with the sharp sell off at the beginning of the session producing a NSL when the market pulled back to the structure area and got held up there I took my entry being that the market was rangy and slow and price finally made the first attempt to drop I got to a BE at a structure area just in case and was taken out at the BE+ a few. I could have been aggressive and taken the 15 points but I don't like to do that because in the long run but not capturing the expectation I hurt my expectancy and make less money.

Anyway once price started pushing up again I look for either a retest of the structure or a complex correction ABCD. Which we got. Had I not had the breakeven I would have stayed in the trade and added to my position at the completion where I entered my second trade. The area was a great area of supply.

We must understand what the market is working towards and who is to benefit from imbalance of buying and selling.
If you fail to plan, you plan to fail.
  • #22,134
  • Dec 3, 2016 12:18am Dec 3, 2016 12:18am
Quoting Mr. Pip
{quote} The expectation is just that and expectation. You must consider other factors like strength and weakness. Did the failure happen with strength? What did the momentum look like? Volume? Projection? And the most important where is the structure support/resistance. If you need me to show a chart let me know and I will put one together.
Thank you, but no need for a chart. I usually take into account depth/projection/momentum/volume/structure when there are multiple NSHs/NSLs produced but it's that first leg that makes the change in orderflow that throws me off balance. Now I understand that I shouldn't automatically assume that we are in for a deep correction every time there is an expectation failure.
  • #22,135
  • Dec 3, 2016 8:49am Dec 3, 2016 8:49am
Quoting x3m-PippiN
{quote} Thank you, but no need for a chart. I usually take into account depth/projection/momentum/volume/structure when there are multiple NSHs/NSLs produced but it's that first leg that makes the change in orderflow that throws me off balance. Now I understand that I shouldn't automatically assume that we are in for a deep correction every time there is an expectation failure.
Okay, if anyone needs a visual yell out and I'll put one together.
If you fail to plan, you plan to fail.
  • #22,136
  • Dec 4, 2016 10:37am Dec 4, 2016 10:37am
MR.Pip simple and quick question, would recommend trading a higher time frame such as the H1 to identify the swings more
clearly and to indentify the expectations.

Reading pages 900+ you still see traders struggling to make profits even though there techinical analyst is on point, there emotions interfere with their set-up.

just looking to find a more successful route as a trader on the Forex
markets

Many Thanks Riese
  • #22,137
  • Dec 4, 2016 11:03am Dec 4, 2016 11:03am
Quoting RieseP
MR.Pip simple and quick question, would recommend trading a higher time frame such as the H1 to identify the swings more clearly and to indentify the expectations. Reading pages 900+ you still see traders struggling to make profits even though there techinical analyst is on point, there emotions interfere with their set-up. just looking to find a more successful route as a trader on the Forex markets Many Thanks Riese
Hello and thank you for your question. I must tell you that everyone's success with this or any other system will vary from person to person and everyone's performance will come more importantly from their trading state. I'm working on a presentation on trading psychology to put out in the coming week but this is if not the most important aspect on the outcome of performance.

What I'm doing here or I should say what what I'm trying to achieve here is to teach everyone how to properly read a price chart. In the process I'm showing traders how I incorporate proper chart reading to trading. Those that want to learn how to properly read the chart will find a level of clarity that no indicator or other process will help them find. It is empowering and completely freeing in my opinion. I believe if you have the proper information from a price action stand point your decisions will be much better and chasing price around like the indicators have you do is more like chasing your own tell at your expense.

I encourage every trader here to make it their own as this too is a very important component to feeling comfortable in your trading state. It doesn't matter much to me what setup anyone uses to enter the market, that can and should be a very personal matter. There are literally dozens of many different entry setups and possibly more. I use only one in the spirit of keeping it simple. The point is I want everyone to make trading decisions based on technical facts and indicators do not and cannot give you technical facts with any consistency.

I'm afraid the only thing I will not be able to fix is an individual's trading state. I show you how to fix it but if the traders does not have the discipline to follow the process then it is not the process. I hope this response is clear because the message is extremely important.
If you fail to plan, you plan to fail.
  • #22,138
  • Dec 4, 2016 11:15am Dec 4, 2016 11:15am
Thanks Mr.Pip

Poweful message you sent here, glad i asked and your correct it all comes down to individual trader who sitting through the live trade. I also agree you have given us the tools to understand high probability trades and with the correct TA we can set our S/L to above 100% fib and see this as an mechanical approach and detach our feelings from a trade.

Choosing when to BE is down to individual. We can all interpret the markets from different scopes.

Due to work commitments I have to trade the higher TF, However it early days studying this thread. A total addictive obsession.

Truly Refressing approach. Thanks
  • #22,139
  • Dec 4, 2016 11:37am Dec 4, 2016 11:37am
Quoting RieseP
Thanks Mr.Pip Poweful message you sent here, glad i asked and your correct it all comes down to individual trader who sitting through the live trade. I also agree you have given us the tools to understand high probability trades and with the correct TA we can set our S/L to above 100% fib and see this as an mechanical approach and detach our feelings from a trade. Choosing when to BE is down to individual. We can all interpret the markets from different scopes. Due to work commitments I have to trade the higher TF, However it early days studying...
Of course and The beauty is it doesn't matter the instrument or time frame it's all the same approach. If you need the higher time frames that is fine. You still at some point need to find the time to check in on your trade but some even choose this as a better option for themselves as it further keeps the emotions at a greater distance. Pick your poison more involved or less by choice or by need. It will work out if your trading state is up to par and that goes with this or any other system.
If you fail to plan, you plan to fail.
  • #22,140
  • Dec 4, 2016 8:21pm Dec 4, 2016 8:21pm
Quoting Mr. Pip
{quote} Of course and The beauty is it doesn't matter the instrument or time frame it's all the same approach. If you need the higher time frames that is fine. You still at some point need to find the time to check in on your trade but some even choose this as a better option for themselves as it further keeps the emotions at a greater distance. Pick your poison more involved or less by choice or by need. It will work out if your trading state is up to par and that goes with this or any other system.
My problem is FOMO. or fear of missing out on a trade. I like to cut my trades short, I like to win tiny amounts because it is still winning. I know what my problems are and it's up to me to fix them. Not Mr Pips problems, they are mine. His teachings are GOLDEN! When I trade stupidly and blindly just to trade it is a pretty dumb thing of me to do. I have to meditate to get these things under control. It all also starts with gratitude. I am so grateful for my family that I try so hard to make money to be with them more. I want to see more traders really hear what I'm saying. This shit is so hard it's easy. Watch the structure analysis video every day for 5 days with intent, it helps. I learned a different and not as clear of a way as he has taught. He teaches expectation, not hope or luck. It is becoming a skill. So please if everyone that isn't posting anything can ask questions these guys are the real deal. Just my 2 cents.
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