Ratios & Harmonics: a Different Way to Trade | Page 1139 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

"Ratios & Harmonics: a Different Way to Trade." Summary 37 replies

Learning to trade with harmonics 11 replies

Time for Change - Pivots & Harmonics to freedom 67 replies

180 reasons to trade Harmonics and Patterns 13 replies

Group Trading based on Elliott wave and Harmonics 0 replies

Attachments: Ratios & Harmonics: a Different Way to Trade
Exit Attachments

Ratios & Harmonics: a Different Way to Trade

  • #22,761
  • Dec 19, 2016 4:03pm Dec 19, 2016 4:03pm
Quoting adai123
hi mr pips. first thanks you video and sorry for waste you time to made video and i think i need explain of my post. my system is current on developming, no real trade even demo trade, mean me is begin backtest only... if real trade i think i will need at least few year backtesting on this for more confident to this ... i also no expect you use my post pic made a video.... because i post that post not ask your question , that is my share and play play only.... i not like the 5min chart. cause it too fast for me...and i no so many time to focus.....
My goal is to help you not scold you. Once you have a trading theory backtesting will show you the strengths and weaknesses of your theory or system. It is far more important to foward test then it is to backtest. The reason for this is because with hindsight everything seem to be easy the true test is if you can see things developing in real time. That is challenging and why many system thrive in backtesting and fall apart in forward testing. Good luck with your testing and if you have a question or get stuck somewhere let us know.
If you fail to plan, you plan to fail.
  • #22,762
  • Dec 19, 2016 4:07pm Dec 19, 2016 4:07pm
Quoting adai123
hi mr pips. first thanks you video and sorry for waste you time to made video and i think i need explain of my post. my system is current on developming, no real trade even demo trade, mean me is begin backtest only... if real trade i think i will need at least few year backtesting on this for more confident to this ... i also no expect you use my post pic made a video.... because i post that post not ask your question , that is my share and play play only.... i not like the 5min chart. cause it too fast for me...and i no so many time to focus.....
I forgot to answer your question in red. If you look at your swing, it went down to retest the low the main swing is the one i identified. if I need to draw this on the chart let me know but it's pretty clear.
If you fail to plan, you plan to fail.
  • #22,763
  • Dec 19, 2016 4:07pm Dec 19, 2016 4:07pm
Quoting Mr. Pip
Very tempting rotation here but I'm not going to take it. Need more room. {image}
Thank you for showing. This helps me in figure out when I should stay on the sidelines and forms discipline.

Basically you take only a short after reaching the 1:1 harmonic completion (second leg should also show weakness) and then you trade the retracement and if you get acceleration in price, maybe more through aggressive trailing. Am I right?
  • #22,764
  • Dec 19, 2016 4:08pm Dec 19, 2016 4:08pm
Quoting MJurban
Thx a lot for the videos and the teaching this kind of trading without any further indicators. i tried this short on live account but with extrem small positionsize. --Some kind of demotrading.-- The suport under the B line was very strong but as long as volume grows, i hold this short and trailing SL to B/E. TP was on the expectation point {image} {image}
Very nice! Best way is with real account start dealing with those emotions early on.
If you fail to plan, you plan to fail.
  • #22,765
  • Dec 19, 2016 4:13pm Dec 19, 2016 4:13pm
Quoting liemo
Mr Pip. Great video on the trading session, appreciate the time and effort on creating them, please keep them coming I've got a question on one of your potential trades, if you were to trade the below retracement into demand area: 1) would you stoploss be below the previous swing low? 2) would your target be the extension of the green line if you moved the green line up to your entry? (hope that made sense) {image}
The stop-loss goes below or above the main swing you are trading off of. It's OK to put it closer to entry on structure to the left just understand that putting it anywhere within the main swing puts your trade vulnerable. I usually target a 1:1 of the main swing I'm trading
If you fail to plan, you plan to fail.
  • #22,766
  • Dec 19, 2016 4:20pm Dec 19, 2016 4:20pm
Quoting pereiraalex
{quote} Yeah ... I was looking at it also. could it be doing something like this ? {image}
Anything is possible but one thing is very clear, that the buyers are weak and you have to consider longs high risk.
If you fail to plan, you plan to fail.
  • #22,767
  • Dec 19, 2016 4:26pm Dec 19, 2016 4:26pm
Quoting Harmonic1976
I posted an Apple (APPL) daily chart about a week ago of where I wanted to short apple with put options. Price entered my PRZ today and I pulled the trigger. Reasons for trade: 1:1 Harmonic Completed Butterfly Pattern where price pulled back to the .886 Price is nearing a previous supply area where price pulled back and lastly price has been strongly breathing out for 9 Days without breathing in My SL is If price goes above 118.78, I'm closing the options. I'm looking for price to pull back to around 113 - at which point I will exit. It will be...
I hope you bought the put and not sold it you don't want to be naked on the short side. Also that is not a Butterfly pattern not even close but I do see selling pressure near structure and the area may hold.
If you fail to plan, you plan to fail.
  • #22,768
  • Dec 19, 2016 4:31pm Dec 19, 2016 4:31pm
Quoting jandarana
Hi Mr Pip, I have to say thank you again for showing us how to trade consistently profitable. I studied your charts a lot in the last two weeks and you really puzzled every piece I read in thousands of threads together to one clear picture. The main aspect of your trading is that you have an opinion which might change fast based on price action. For me this is a problem because I'm at work when you are trading. I'm back from work when dow already has opened for two hours. How long do you trade? When do the moves get so small that it doesn't make...
I change my expectation when the market changes it for me. If there is enough weakness in price action I use caution and sometime watch trades pass by the market is also very active in the afternoons so if you cant catch the open catch the last few hours. I only trade for about 3 hours give or take.
If you fail to plan, you plan to fail.
  • #22,769
  • Dec 19, 2016 4:32pm Dec 19, 2016 4:32pm
Quoting evocpr19
{quote} Thank you for showing. This helps me in figure out when I should stay on the sidelines and forms discipline. Basically you take only a short after reaching the 1:1 harmonic completion (second leg should also show weakness) and then you trade the retracement and if you get acceleration in price, maybe more through aggressive trailing. Am I right?
100%
If you fail to plan, you plan to fail.
  • #22,770
  • Dec 19, 2016 4:35pm Dec 19, 2016 4:35pm
Tomorrow is another day don't feel like you must trade everyday. Don't chase after price. Remember the only things you can control is entry and exit the rest is not up to you. Taking the trade on your terms will help you manage it more objectively.
If you fail to plan, you plan to fail.
  • #22,771
  • Dec 19, 2016 4:36pm Dec 19, 2016 4:36pm
Quoting Mr. Pip
{quote} I hope you bought the put and not sold it you don't want to be naked on the short side. Also that is not a Butterfly pattern not even close but I do see selling pressure near structure and the area may hold.
Whoops, good catch! Meant bat pattern. But that was smaller confluence reason for entry more than anything.

Yes bought the put! A naked short would be financial suicide especially since overall the trend is up.
  • #22,772
  • Dec 19, 2016 6:10pm Dec 19, 2016 6:10pm
Quoting Harmonic1976
{quote} Whoops, good catch! Meant bat pattern. But that was smaller confluence reason for entry more than anything. Yes bought the put! A naked short would be financial suicide especially since overall the trend is up.
Great!
If you fail to plan, you plan to fail.
  • #22,773
  • Dec 19, 2016 7:01pm Dec 19, 2016 7:01pm
Quoting pereiraalex
Example of doubts that go into my mind, written in the chart: today's uk100 in 5 minutes Timeframe. Questions are in red. I guess when the corrections come, especially if they are complex, its a problem, now that I am without indicators. And I cannot even look at putting one, not even for a second, because it will influence my ideas. {image}
Hello my friend. I did not ignore your post I just did not have the time today to do it properly. I will do it tomorrow so stay tuned. I also want to put out the date to another live stream. It will be sometime in January when things are running more normal. What does the majority think mid or end of January?
If you fail to plan, you plan to fail.
  • #22,774
  • Dec 19, 2016 7:15pm Dec 19, 2016 7:15pm
Quoting Mr. Pip
{quote} Anything is possible but one thing is very clear, that the buyers are weak and you have to consider longs high risk.
Hello Mr.Pip, can you explain why the buyers are weak, please?. Thank you, Gaston.
  • #22,775
  • Dec 19, 2016 7:34pm Dec 19, 2016 7:34pm
Quoting gastonforex
{quote} Hello Mr.Pip, can you explain why the buyers are weak, please?. Thank you, Gaston.
The very deep corrections and the large volume opposing candles ara a good indication that the sellers are gaining strength. The bulls have also been unable to make a NSH on numerous attempts.
If you fail to plan, you plan to fail.
  • #22,776
  • Dec 19, 2016 9:43pm Dec 19, 2016 9:43pm
Hi Mr Pip.
Could you give some assistance on my analysts.

GBP/USD 4 Hour Chart.
Bullish Bat.
Using Hiken Ashi Candles to smooth out price.

I'm a little concerned how it bounced off of the D only to retest.
Thought it would of rallied strong at the first attempt is this a sign of weak bulls?
Attached Image (click to enlarge)
Click to Enlarge Name: 2016-12-19.png Size: 70 KB
Play the hand you were dealt.
  • #22,777
  • Dec 20, 2016 3:30am Dec 20, 2016 3:30am
Hi was trying a setup on AUDUSD 5m today
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSD 5m.png Size: 51 KB


Do you think this was a bad setup?
I liked it because of the previous bull strength and then 2 NSH and the NSL failing...
Only thing was the strong bear momentum into demand/support.
the 3rd wave is the crowd's wave
  • #22,778
  • Dec 20, 2016 5:23am Dec 20, 2016 5:23am
Quoting Mr. Pip
{quote} Hello my friend. I did not ignore your post I just did not have the time today to do it properly. I will do it tomorrow so stay tuned. I also want to put out the date to another live stream. It will be sometime in January when things are running more normal. What does the majority think mid or end of January?
Thanks. Its ok, take your time. I am having alot to study about harmonic trading and "no indicators trading".

Well ... for me, it could be every day So, whenever its good for you.

May I just through out an idea ? I use the tradingview website to trade, its really good for charts. But its excelent for chat and sharing charts ( just a click of a button, and chart shared to the chat room ). What do you think of creating a "Mr. Pip Room" there ? The free version has everything needed.
  • #22,779
  • Dec 20, 2016 7:10am Dec 20, 2016 7:10am
Quoting Mr. Pip
{quote}... I also want to put out the date to another live stream. It will be sometime in January when things are running more normal. What does the majority think mid or end of January?
I am happy with every date.
  • #22,780
  • Dec 20, 2016 7:46am Dec 20, 2016 7:46am
Quoting juriFX
Hi was trying a setup on AUDUSD 5m today {image} Do you think this was a bad setup? I liked it because of the previous bull strength and then 2 NSH and the NSL failing... Only thing was the strong bear momentum into demand/support.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 135 KB
11 traders viewing now