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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

  • #22,681
  • Dec 16, 2016 11:26am Dec 16, 2016 11:26am
Was taken out, I didn't move my stop but I should have moved it to break even at the test of structure because I knew going in that I was trading directly into a demand zone but overall the expectation was bearish and I thought it would push through to align with longer term OF.
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  • #22,682
  • Dec 16, 2016 11:26am Dec 16, 2016 11:26am
Quoting Harmonic1976
Mr. Pip, Great video into the mind of a master trader!! Thanks for sharing with us. I learn a lot from your live trades and this video reall helped with understanding what you're looking for and at to assess entry and probabilities. Looking forward to the psych presentation!
Thank you!
If you fail to plan, you plan to fail.
  • #22,683
  • Dec 16, 2016 11:42am Dec 16, 2016 11:42am
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...
I'm sorry you are having difficulty following along. I know it can be different and some aspects get lost in translation. I would like to say that my goal is not necessarily to teach you to trade although I show exactly how I trade. My goal is to teach traders how to properly read a price chart. I believe that if I empower you to properly read the chart that your decisions will be better and hopefully let you down the road to profitability.

I would also like to point out that I am very very consistent in my approach and with my trading so I don't quite understand your comment that sometime like this and that there are no clear rules. I think you need to go through the videos and the work I have put out here. I have tried very hard to present to information in a clear and easy to follow format. It looks like you have skipped over a few steps perhaps. I want to help you but you must do the work. there are no short cuts.

It does not matter to me how you trade or what system you use if you can read the price chart accurately your trading and your P/L should improve. Settle down get you emotions under control and start listening to what price is telling you.

In the attachment section of the thread there are clear rules written out in PDF of the harmonic patterns feel free to search for them. If you post chart with questions we will help you but your rant is unproductive. Help us help you by posting your chart with you issues or concerns.
If you fail to plan, you plan to fail.
  • #22,684
  • Dec 16, 2016 11:51am Dec 16, 2016 11:51am
Quoting adai123
{quote} so you now no use harmonic pattern to trade? if only use harmonic pattern ab-cd and aggressive sell or buy long time is loss? i think trading must made it simple.. if a lot of video a lot of different type to determine is very hard to newbies... because if like this , if got 10people , 10people must each different trade...
I disagree, trading any setup no matter what it is blindly will definitely produce the results you speak of. I certainly don't have those result because I know how to read a price chart and know ahead of time what is the expectation and if the pattern fits the expectation. Like I said earlier rants are unproductive post your work and we will try to help you. Your process appears to be broken I could see where you are making mistake but you need to POST YOUR WORK.
If you fail to plan, you plan to fail.
  • #22,685
  • Dec 16, 2016 12:42pm Dec 16, 2016 12:42pm
Mind if I post how I am analyzing the market for feedback and corrections ?
  • #22,686
  • Dec 16, 2016 1:01pm Dec 16, 2016 1:01pm
Great video's Damian, i had time to watch them today and enjoyed it very much!
You seem to have no trouble to keep talking for over two hours, for me that would be the hardest part
But besides the kidding, i loved the video's you have a great voice and are a natural teacher.
Persistence will get it. Consistency will keep it.
  • #22,687
  • Edited 2:43pm Dec 16, 2016 1:11pm | Edited 2:43pm
Quoting Mr. Pip
taken out at +20 good day +32 points in all. I will catch up now. I hope you all enjoyed today's trades and analysis. Trading light for the rest of the year only 4 contracts so only $640 but it's money in the bank. {image}
The PA at the begin was challenging for me (big bears candles and fast moves). I was looking for an entry. I got in at the vertical red line, since a did not want to "miss the train up" and since I had a bit room until the end of the "small" 1:1 harmonic move. As soon as I entered, price was a bit stalling which was not what I wanted to see. Then price did the small 1:1 and came back to my entry and killed my trade for BE.
Then I had to go.
Lately when you did enter your second trade, price was less "jumpy". I should have waited for this opportunity. But ok, how to know before without hindsight and also I was in the train at this time.

If I look at your first entry on your chart, I had no chance to see the rotation. On my chart it is a big bullish candle.

Short question: how much pip would have been your SL on your first entry? (far away from your midde line)
Thank you for posting your entries. Very educative and it helps me to check if I am on the same page and it shows that you wait for price coming to you before you enter a trade.

At least, I had the feeling that I did not rush in a trade.
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  • #22,688
  • Dec 16, 2016 1:28pm Dec 16, 2016 1:28pm
Quoting pereiraalex
Mind if I post how I am analyzing the market for feedback and corrections ?
Absolutely post your work.
If you fail to plan, you plan to fail.
  • #22,689
  • Dec 16, 2016 1:29pm Dec 16, 2016 1:29pm
Quoting Chake
Great video's Damian, i had time to watch them today and enjoyed it very much! You seem to have no trouble to keep talking for over two hours, for me that would be the hardest part But besides the kidding, i loved the video's you have a great voice and are a natural teacher.
Thank you for the feedback
If you fail to plan, you plan to fail.
  • #22,690
  • Dec 16, 2016 1:43pm Dec 16, 2016 1:43pm
So, I use tradeview to do my charting analysis. This is what I am looking at now:

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On the right, I use high time frame heikin ashin to do quick swing analysis. I then market an horizontal line with NSH and HL ( in this case ) and put alerts on them.

On the left pane I do the real analysis for the trades: M15 chart with a Fib retreacement and a Fib expansion. The fib retreacement has a 1.272 and 1.618, in yellow in the image ( 11160 and 11080 ) that will be my possible stops.

A possible trade for example, would be long from 11249 with stop 11160, to 11516.

I am bullish until the first HL in right pane is taken out. In indecision, I either stay out or follow Heikin-Ashin.

Its actually fairly simple. But whatever trade I want to do, I always do left pane analysis and in broker, I do entries with limit orders. I actually just made some pips a few hours ago using a harmonic pattern. But I have a bad track record on them, more losses than profits.

Before reading this thread, I used to use Bollinger bands, RSI and market profile.

What do you think ? Any errors and pitfalls before I ruin my poor capital ?
  • #22,691
  • Dec 16, 2016 1:51pm Dec 16, 2016 1:51pm
Quoting pereiraalex
So, I use tradeview to do my charting analysis. This is what I am looking at now: {image} On the right, I use high time frame heikin ashin to do quick swing analysis. I then market an horizontal line with NSH and HL ( in this case ) and put alerts on them. On the left pane I do the real analysis for the trades: M15 chart with a Fib retreacement and a Fib expansion. The fib retreacement has a 1.272 and 1.618, in yellow in the image ( 11160 and 11080 ) that will be my possible stops. A possible trade for example, would be long from 11249 with stop...

Personally I would break that gigantic swing into 3 swings, Mr. Pip may consider it different. Overall the structure is bullish but where would you go long? At what point? Your stop would technically need to be below that entire structure if the expectation is another long leg up.

See attached chart, I would automatically switch to a bearish view if the last "HL" was taken out and trade the orderflow downward.

I should have drawn the first swing to the first NSH a little further to the right - so you could see the momentum of the projections. The second projection is stronger but the 3rd (last swing) has lost a little momentum but the projection is still strong. You can also see that the bulls tried to push higher and couldn't make a 4th NSH, so momentum may be fading. But until that HL is broken, the expectation is for a NSH.
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  • #22,692
  • Dec 16, 2016 2:00pm Dec 16, 2016 2:00pm
Have a great weekend everyone!

Major shoutout Damian for the livestream yesterday as well as the constant supply of information and support you provide to all of us here in the thread.

Awesome to see all the participation, looks like it's ramping up on a continued pace.
  • #22,693
  • Dec 16, 2016 2:03pm Dec 16, 2016 2:03pm
Quoting jmezz
Have a great weekend everyone! Major shoutout Damian for the livestream yesterday as well as the constant supply of information and support you provide to all of us here in the thread. Awesome to see all the participation, looks like it's ramping up on a continued pace.
Cheers, you too.
  • #22,694
  • Dec 16, 2016 3:01pm Dec 16, 2016 3:01pm
Quoting jmezz
Have a great weekend everyone! Major shoutout Damian for the livestream yesterday as well as the constant supply of information and support you provide to all of us here in the thread. Awesome to see all the participation, looks like it's ramping up on a continued pace.
Thanks, you too! I also would like to join in on the appreciation for Damian and the great teaching he provides, truly awesome material!
Here's my favorite motivational clip to all of you who's on the journey to become a successful trader:

https://youtu.be/hbkZrOU1Zag
Rise and rise again until lambs become lions
  • #22,695
  • Dec 16, 2016 3:02pm Dec 16, 2016 3:02pm
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.
I just stick to the one instrument and I have music going while I trade so I don't really get bored also I only do it for the 3 or so hours I trade so not really a big deal. I didn't put music on the stream because it would have made it difficult for you all to hear.
If you fail to plan, you plan to fail.
  • #22,696
  • Dec 16, 2016 3:05pm Dec 16, 2016 3:05pm
Quoting mansan
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 {image}
Your Fib is not upside down but do remember to make sure you draw them from the high to the low or low to high. You did not do that in the chart you provided. Why did you exit there?
If you fail to plan, you plan to fail.
  • #22,697
  • Dec 16, 2016 3:07pm Dec 16, 2016 3:07pm
Quoting Harmonic1976
Mr. Pip, do you have an example of your trading plan or is that something that you would be willing to share for others to try to build one off of? I understand it is unique to the individual/risk tolerance/style etc... but it looks like you have a very thorough plan and it seems like it would be a great example to use as a reference to build our own. I know it may be a private thing so if that is the case, I fully understand. Thank you!
I will put something together for you guys.
If you fail to plan, you plan to fail.
  • #22,698
  • Dec 16, 2016 3:28pm Dec 16, 2016 3:28pm
Quoting evocpr19
{quote} The PA at the begin was challenging for me (big bears candles and fast moves). I was looking for an entry. I got in at the vertical red line, since a did not want to "miss the train up" and since I had a bit room until the end of the "small" 1:1 harmonic move. As soon as I entered, price was a bit stalling which was not what I wanted to see. Then price did the small 1:1 and came back to my entry and killed my trade for BE. Then I had to go. Lately when you did enter your second trade, price was less "jumpy". I should have waited for this...
I don't remember exactly what my stop was I'm sorry. If the rotation is bigger then you would like that is fine do not enter just then wait to see if the next candle comes down and offers a better price. Sometimes the next candle comes back some. I don't count on this to happen and if I have room to protect then I don't sweat the expensive rotation.
If you fail to plan, you plan to fail.
  • #22,699
  • Dec 16, 2016 3:32pm Dec 16, 2016 3:32pm
Quoting pereiraalex
So, I use tradeview to do my charting analysis. This is what I am looking at now: {image} On the right, I use high time frame heikin ashin to do quick swing analysis. I then market an horizontal line with NSH and HL ( in this case ) and put alerts on them. On the left pane I do the real analysis for the trades: M15 chart with a Fib retreacement and a Fib expansion. The fib retreacement has a 1.272 and 1.618, in yellow in the image ( 11160 and 11080 ) that will be my possible stops. A possible trade for example, would be long from 11249 with stop...
I would say to keep it simple. Use one chart one time frame that way you don't confuse the order flow. Your trading time frame should be able to provide you with the information you need. Train your eyes to pick up what is important. The less step the cleaner and more efficient you will become.
If you fail to plan, you plan to fail.
  • #22,700
  • Dec 16, 2016 3:34pm Dec 16, 2016 3:34pm
Quoting Harmonic1976
{quote} Personally I would break that gigantic swing into 3 swings, Mr. Pip may consider it different. Overall the structure is bullish but where would you go long? At what point? Your stop would technically need to be below that entire structure if the expectation is another long leg up. See attached chart, I would automatically switch to a bearish view if the last "HL" was taken out and trade the orderflow downward. I should have drawn the first swing to the first NSH a little further to the right - so you could see the momentum of the projections....
Well done!
If you fail to plan, you plan to fail.
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