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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

  • #22,621
  • Dec 15, 2016 10:39pm Dec 15, 2016 10:39pm
Quoting adai123
{quote} i got view the mrpip video is very hard to understand of my poor english, i got open youtube subtitle, but difficult too.. mean some time can like this,some time can like that no clearly rules, some time if like this ratio&harmonic thread title will become supply demand thread... i want clearly rules in text or on a pdf in more easy understand.. eg.. if want take short trade price must break a new low price structure and retest to a fibo 38.2 zone like this...
A video in multiple languages would be a benefit to many more traders ... I certainly agree with you.

Take a look through this thread and search for the attachments and you will find plenty of useful information in pdf format however most if not all is in English.

Many traders seek a simple trading methodology such as go long here when blue or go short here when red but these systems are rarely if ever profitable over the long term so its bit of a hit and miss (win some and lose some) type of situation with the losers probably being greater than the winners.

What separates a good trader from a great trader in my opinion is one who acquire a strong market sense, are able to apply discretion in knowing when to get into or out of trades and abides by a strict money management and trade management plan.

Unless you are prepared to study very hard, practice like your life depended on it and continue to search for any way possible to improve your success rate in trading then at best you will probably just be mediocre (average).

Personally I can assure you that I spent an enormous amount of time in deep market economic study and an uncountable number of hours on reading PA on a chart.

The journey is not a weekend sitting and at the end you walk away a genius trader .... the truth is far far different.

What I'm trying to say to you is that YOU need to do the work, you collect notes, you compile a pdf and you convert it to a different language.

If you really want to be great at trading or at least give yourself the best possible chance then you have to depend on yourself and make it happen.

I make no apologies for being very direct in my comments to you because I believe in what I say.

ps. you might like to ask Mr Pip if he is willing to provide a recording in the language of your choice but I have my doubts since he has already provided an enormous amount of his free time to provide what he has already provided to this thread.

Good trading,

Masterrmind...........
Master your Mind then Master your Trades
  • #22,622
  • Dec 15, 2016 10:39pm Dec 15, 2016 10:39pm
Quoting adai123
{quote} cause for my poor english....so video is dificult to me if write all info in pdf in text is more easy for me.. you got backtest patterrn? i think any system but backtest at least few year...
I don't think anyone has this in PDF form, you may be able to piece it together by just watching the videos even if you don't understand the english. Or use some sort of app to translate the voice to chinese.

I personally don't believe in backtesting for many reasons, but the 3 biggest being:

1. The quality of the data feed
2. It's hard to pretend it is real time and take each and every trade just as serious as you would in real time
3. You don't have ANY of the emotional demons that come out even if your trading a micro or mini account. Even just trading 0.01 lot will cause emotions to come out as soon as you enter the trade.

Since backtesting will not give you that emotional piece (that really is the part we need to control to succeed), then it really defeats the purpose. You can backtest on perfect data and have a system that makes money 70-90% of the time and your winners be much bigger than losers.... and then go live and lose all of your money. Why? Emotions. Not following the plan. Taking bad trades out of boredom. Trying to see stuff that just isn't there because you want in on the action. Over-leveraging the trade, Not taking losses by moving your stop, exiting when the trade goes slightly in your favor, etc.
  • #22,623
  • Dec 15, 2016 10:48pm Dec 15, 2016 10:48pm
Quoting Masterrmind
{quote} EA (a different perspective in tune with longer term order flow) {image} Masterrmind...........
Looks like I'll need to wait for London Open to get the trades I want but lets see if the market is willing when that time comes.

PA has slowed to a snails pace and I'm not prepared to make rash entries under these conditions so I'm going to wait until later.

Back around London Open.

ps. if the PA suddenly improves and I enter a trade then you can be sure I will post it asap.

Masterrmind...........
Master your Mind then Master your Trades
  • #22,624
  • Dec 15, 2016 10:50pm Dec 15, 2016 10:50pm
Quoting Harmonic1976
{quote} I don't think anyone has this in PDF form, you may be able to piece it together by just watching the videos even if you don't understand the english. Or use some sort of app to translate the voice to chinese. I personally don't believe in backtesting for many reasons, but the 3 biggest being: 1. The quality of the data feed 2. It's hard to pretend it is real time and take each and every trade just as serious as you would in real time 3. You don't have ANY of the emotional demons that come out even if your trading a micro or mini account....
Multiple great posts by you Harmonic1976.

The emotional and the trade management parts are the hardest to conquer in fact sometimes they cannot be conquered only minimized to such a state that their impact is not too drastic on your trading statistics.

Nice work!

Masterrmind............
Master your Mind then Master your Trades
  • #22,625
  • Dec 15, 2016 11:53pm Dec 15, 2016 11:53pm
Quoting Masterrmind
{quote} EA (a different perspective in tune with longer term order flow) {image} Masterrmind...........
EURAUD [M5 Chart]

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 35 KB


Short now.

Masterrmind.........
Master your Mind then Master your Trades
  • #22,626
  • Dec 16, 2016 12:07am Dec 16, 2016 12:07am
Quoting Masterrmind
{quote} EURAUD [M5 Chart] {image} Short now. Masterrmind.........
Interesting to look back at the chart I marked up last night, the vertical line was where I posted it and shortly after price seemed to agree ))

Anyway, I personally think the safer, low risk option would have been going long when price hit the 1.4158 line. Price may want to go back up to the 1.4205 to test.
Attached Image (click to enlarge)
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  • #22,627
  • Edited 12:27am Dec 16, 2016 12:15am | Edited 12:27am
Updated chart with what I see in that trade, opposing view but that's what all trading is - isn't it?
Attached Image (click to enlarge)
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  • #22,628
  • Dec 16, 2016 1:06am Dec 16, 2016 1:06am
Quoting Harmonic1976
Updated chart with what I see in that trade, opposing view but that's what all trading is - isn't it? {image}
Opposing views are certainly fine.

I too had the 1 to 1 projection drawn so I know where price could go.

I'm also looking at yesterdays swing high where selling took place aggressively.

My stop is now above this swing high which means the bears would have to completely give up the fight for me to lose this trade.

Ofcourse I can still lose it but time will tell ...
The 1.42 handle is now being tested as price continues to drive up higher.

I want to see the bears come in with force near this handle or its going to be a nasty exit.

Masterrmind............
Master your Mind then Master your Trades
  • #22,629
  • Dec 16, 2016 1:52am Dec 16, 2016 1:52am
The stream was awesome as usual. Vary thankful for it!

I have a different type of question.. what do you do while waiting for a setup to form? Sometimes PA slows down and sitting there watching it can be a boring job.
I've tried to analyse different instruments but my analysing suffers if I follow more than two at a time.
  • #22,630
  • Dec 16, 2016 2:31am Dec 16, 2016 2:31am
Okay I have tested the platform this week using 144T on a demo account. Here are the results as follow. I used super DOM so all trades were manual because I didnt know how to use DOM. I have chart trader now, so net week execution will be better.

Monday-(Sunday chart) Sell Day
3:15am-3:40am: +10T; First Trade executed 3:21am
Tuesday-Buy Day
3:00am-4:25am: -6T, +24T(net 18T); first Trade executed 3:18am
Wednesday-Sell Day
3:00am-5:12am: 5T, -6T, +1T,-4(net -4T)T; first trade executed 3:37am
If you notice right at 3:03am where the blue vertical line started is where I missed my big morning trade(did not have time to mentally wake up) It formed a NSL then ABCD correction then dropped. After that I started forcing things(not following rules) and getting into my old habits. You can tell by the in and out movement by the end of the trading session. Compound that on with morning hours.
Thursday-Sell Day
2:30am-4:33am (new wake up time 2:30am)-12T, +10T,66T(net 64) first trade executed 3:07am. Did not expect 66T trade to happen like that but will count it.

Friday-Data was screwed up so I could not see price, so no trade. 3:22 am as I write this.

So end of the week net total is +88T. Realistic it is 22T as that 66T trade was a mistake.

Lessons learned:
Start Getting up 2:30am
dont expect to get a trade everyday(I had a sense of entitlement thinking I am suppose to get a trade if I am up this early). So wednesday trades were forced and volume was slow and I was making trades happen.
Attached Image(s) (click to enlarge)
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Empower Your Mind
  • #22,631
  • Dec 16, 2016 3:47am Dec 16, 2016 3:47am
FX futures market this morning is DEAD. Had a decent move pre-London open but no technical reasons to enter. There was a single opportunity on Eur/usd but the stop was overkill for me.

Edit: I guess it has to do with the fact that it's the last trading day for December contracts.
  • #22,632
  • Dec 16, 2016 3:55am Dec 16, 2016 3:55am
Hi,

I'm new at this and still watching the video's as a complete beginner(so this is just demo), so forgive me for any mistakes(I think I had the FIB upside down)
Price made a NSH and a weak pullback.. entered after the pinbar.
i'm posting the chart now :I got in at the red arrow and exited at the red down arrow. I still have a lot to learn about money management .

I will post a more detailed analysis later... have to go out now.

Thank you for any feedback
Attached Image (click to enlarge)
Click to Enlarge Name: testmrpip.png Size: 23 KB
veni vidi vici
  • #22,633
  • Dec 16, 2016 8:04am Dec 16, 2016 8:04am
GM Traders,

Today the outlook is bullish with caution as the market continues it's struggled attempt to keep prices going up. There is no scheduled volatility for the day so the market will have to run on it's own steam. Let's see what the open bring and how we can capitalize on today's price movement.
Attached Image (click to enlarge)
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If you fail to plan, you plan to fail.
  • #22,634
  • Dec 16, 2016 8:05am Dec 16, 2016 8:05am
I will catch up later today on the thread so feel free to post.
If you fail to plan, you plan to fail.
  • #22,635
  • Dec 16, 2016 8:12am Dec 16, 2016 8:12am
The bears are aggressively trying to make a move on the bulls here. There is good volume in the candles coming down so longs will have to be careful.
Attached Image (click to enlarge)
Click to Enlarge Name: YM 03-17 (233 Tick) 2016_12_16.png Size: 51 KB
If you fail to plan, you plan to fail.
  • #22,636
  • Dec 16, 2016 8:34am Dec 16, 2016 8:34am
Quoting x3m-PippiN
The stream was awesome as usual. Vary thankful for it! I have a different type of question.. what do you do while waiting for a setup to form? Sometimes PA slows down and sitting there watching it can be a boring job. I've tried to analyse different instruments but my analysing suffers if I follow more than two at a time.
An easy solution that comes to mind is to place an alert near an area you have identified and do something else until you hear the alarm.
  • #22,637
  • Dec 16, 2016 8:40am Dec 16, 2016 8:40am
Price is breaking down for the bulls will start trying to find a short entry
If you fail to plan, you plan to fail.
  • #22,638
  • Dec 16, 2016 8:41am Dec 16, 2016 8:41am
rotation - Short
Attached Image (click to enlarge)
Click to Enlarge Name: 2016-12-16 14-35-19.png Size: 126 KB
It's a dirty job but someone's gotta do it!
  • #22,639
  • Dec 16, 2016 8:45am Dec 16, 2016 8:45am
Quoting LaBoca
rotation - Short {image}
1 soldier left on the table - touched but hey that's how she rolls.....

+50 Ticks....probably call it quits for the day....Enjoy the weekend.
Attached Image (click to enlarge)
Click to Enlarge Name: 2016-12-16 14-42-21.png Size: 104 KB
It's a dirty job but someone's gotta do it!
  • #22,640
  • Dec 16, 2016 8:47am Dec 16, 2016 8:47am
Quoting LaBoca
{quote} 1 soldier left on the table - touched but hey that's how she rolls..... +50 Ticks....probably call it quits for the day....Enjoy the weekend. {image}
out...
Attached Image (click to enlarge)
Click to Enlarge Name: 2016-12-16 14-46-37.png Size: 87 KB
It's a dirty job but someone's gotta do it!
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