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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

  • #24,781
  • Feb 6, 2017 8:58am Feb 6, 2017 8:58am
I will be back later to catch up and do my best to post the video.
If you fail to plan, you plan to fail.
  • #24,782
  • Feb 6, 2017 9:09am Feb 6, 2017 9:09am
Remember to save the date Feb 21 live stream!!!!
If you fail to plan, you plan to fail.
  • #24,783
  • Feb 6, 2017 9:31am Feb 6, 2017 9:31am
Quoting Mr. Pip
Tough day again. Tomorrow I will trade the intraday order flow which has always been my bread and butter. So tomorrow we get on the train that goes through the mountains.
With todays PA, not sure if it would have worked out. We did a intraday NSL; Expecting a new NSL, we would have been kicked out, since price came higher as previous High.
  • #24,784
  • Feb 6, 2017 10:51am Feb 6, 2017 10:51am
US30 89T. Long.
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Rise and rise again until lambs become lions
  • #24,785
  • Feb 6, 2017 11:00am Feb 6, 2017 11:00am
I always find it interesting when people think that Fibonacci plays any role what so ever in trading/market movement. There is absolutely no statistical evidence that shows us that it does. However, so many traders seem to use it. Which is hard to understand seeing as trading is based on statistics. Let alone the use of harmonics. Nothing that is taught in books about trading will ever make money in the long run or at all. All this rubbish about gartley patterns being 80% accurate - with zero statistics to back up the nice graphs and such a claim. Do you think hedge funds, banks, dark pools, etc are sitting back measuring out little gartley patterns? The answer is no. So, why do you?
  • #24,786
  • Feb 6, 2017 11:23am Feb 6, 2017 11:23am
Quoting fxtrading201
I always find it interesting when people think that Fibonacci plays any role what so ever in trading/market movement. There is absolutely no statistical evidence that shows us that it does. However, so many traders seem to use it. Which is hard to understand seeing as trading is based on statistics. Let alone the use of harmonics. Nothing that is taught in books about trading will ever make money in the long run or at all. All this rubbish about gartley patterns being 80% accurate - with zero statistics to back up the nice graphs and such a claim....
Fibonaccis are extremely profitable. Particularly the 618 in my humblest
Bulls nor Bears may hide their intent.
  • #24,787
  • Feb 6, 2017 11:29am Feb 6, 2017 11:29am
Quoting fxtrading201
I always find it interesting when people think that Fibonacci plays any role what so ever in trading/market movement. There is absolutely no statistical evidence that shows us that it does. However, so many traders seem to use it. Which is hard to understand seeing as trading is based on statistics. Let alone the use of harmonics. Nothing that is taught in books about trading will ever make money in the long run or at all. All this rubbish about gartley patterns being 80% accurate - with zero statistics to back up the nice graphs and such a claim....
And I always find interesting when people like you post... I don't get how some people trade on fundamentals but I don't go around talking $hit to them.

There is a lot of information in this thread if you find it useful use it. If not... show some respect to the author and if you haven't got anything useful to add just move on to another thread where there is something you think that works.
  • #24,788
  • Feb 6, 2017 12:13pm Feb 6, 2017 12:13pm
Quoting fxtrading201
...There is absolutely no statistical evidence that shows us that it does. ...
I found this by chance a few weeks ago on youtube. The guy sounds more as a good marketer but at least he seems to have done some good researches:
p.s. i have no affiliation with them. I don't know how he conducted his tests so be careful.
http://pages.tradeempowered.com/constellation-video3
  • #24,789
  • Feb 6, 2017 12:53pm Feb 6, 2017 12:53pm
Quoting fxtrading201
I always find it interesting when people think that Fibonacci plays any role what so ever in trading/market movement. There is absolutely no statistical evidence that shows us that it does. However, so many traders seem to use it. Which is hard to understand seeing as trading is based on statistics. Let alone the use of harmonics. Nothing that is taught in books about trading will ever make money in the long run or at all. All this rubbish about gartley patterns being 80% accurate - with zero statistics to back up the nice graphs and such a claim....
Because if you take one thing out of the tool set it won't work alone.
Harmonic patterns and fibs work only in conjunction with market structure and expectation trading.
Damian has been kindly teaching us mostly market structure and finding the right entry based on expectation + order flow analysis (depth/projection) + fib confluence + rotation (commitment of bulls/bears), not just fibs or patterns.

Give it a serious try, maybe you can see the value then. If not, then also good, no loss for us.
the 3rd wave is the crowd's wave
  • #24,790
  • Feb 6, 2017 1:01pm Feb 6, 2017 1:01pm
Quoting fxtrading201
I always find it interesting when people think that Fibonacci plays any role what so ever in trading/market movement. There is absolutely no statistical evidence that shows us that it does. However, so many traders seem to use it. Which is hard to understand seeing as trading is based on statistics. Let alone the use of harmonics. Nothing that is taught in books about trading will ever make money in the long run or at all. All this rubbish about gartley patterns being 80% accurate - with zero statistics to back up the nice graphs and such a claim....
Hi fxtrading201 , no offence just one question , did you trade this trading style and you saw it didn’t work? can we have please some example .
And what hedge funds, banks, dark pools, etc are sitting back measuring out their , can you enlighten us please
  • #24,791
  • Feb 6, 2017 1:54pm Feb 6, 2017 1:54pm
Quoting fxtrading201
I always find it interesting when people think that Fibonacci plays any role what so ever in trading/market movement...
Here is how i try to use Fib tool. To measure harmonic moves and find level of exhaustion along with order flow...

This is the ES - 3min TF (e-mini S&P 500) along with other flow or volume behind the bar:


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  • #24,792
  • Feb 6, 2017 4:59pm Feb 6, 2017 4:59pm
FXCM has been banned from operating in the U.S.
http://www.marketwatch.com/story/fxcm-banned-by-cftc-after-taking-positions-against-clients-2017-02-06
  • #24,793
  • Feb 6, 2017 5:02pm Feb 6, 2017 5:02pm
Quoting crixus
FXCM has been banned from operating in the U.S. http://www.marketwatch.com/story/fxcm-banned-by-cftc-after-taking-positions-against-clients-2017-02-06
SHIT FXCM!!!!!!

No wonder. I used to use FXCM years ago and i find it hits all my SL by a few points.

FXCM banned by CFTC after taking positions against clients

WASHINGTON (MarketWatch) -- FXCM has been banned from operating in the U.S. after the Commodity Futures Trading Commission found the retail currency broker (http://www.cftc.gov/idc/groups/public/@lrenforcementactions/documents/legalpleading/enfforexcapitalorder020617.pdf) had an undisclosed interest in the market maker that consistently "won" the largest share of FXCM's trading volume - and thus was taking positions opposite its retail customers. The CFTC also found that FXCM willfully made false statements to the National Futures Association in order to conceal FXCM's role in the creation of its principal market maker as well as the fact that the market maker's owner had been an FXCM employee and managing director. FXCM also agreed to pay a $7 million fine and never seek to register with the CFTC, and the two founding partners, Dror Niv and William Ahdout, will withdraw from CFTC registration. FXCM, Niv and Ahdout didn't admit or deny the findings.
  • #24,794
  • Feb 6, 2017 5:12pm Feb 6, 2017 5:12pm
Quoting fxtrading201
I always find it interesting when people think that Fibonacci plays any role what so ever in trading/market movement. There is absolutely no statistical evidence that shows us that it does. However, so many traders seem to use it. Which is hard to understand seeing as trading is based on statistics. Let alone the use of harmonics. Nothing that is taught in books about trading will ever make money in the long run or at all. All this rubbish about gartley patterns being 80% accurate - with zero statistics to back up the nice graphs and such a claim....
Fibonancci is just but one of the lessons Mr Pip is teaching.

These guidelines are to be used in conjunction with all the other methods Mr Pip taught.

If you really think "Nothing that is taught in books about trading will ever make money in the long run or at all.", then there is no point for you to be registered with FF.

We have here people who trade indices, commodities, forex, spot and futures. Name it. And all (who put in hard work) are able to utilize the method Mr Pip teaches to much success.
  • #24,795
  • Edited 7:55pm Feb 6, 2017 5:27pm | Edited 7:55pm
Looking to short EURUSD at 38% to 62% level.

I'm at work now so I do not have Ninja trader to use.

Can only use Tradingview and it does not have tick charts. Can do less bar by bar.

EURUSD came down in strength and should have only a shallow correction (ie 24%) which it did.

But I'm not comfortable at that level, so if it runs, then let it be.

After all, it just made a failed expectation, so i'm looking to short at 38% to 62% level.

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Updates

Price hit 38% and immediately had a retrace. (To fxtrading201, is this the proof you needed?)

Feeling tempted to enter a short.

But the bar by bar shows a huge green candle just before the red one.

That put me off until further notice.

Wish I have my Ninja Trader now.

It's not easy to trade using TradingView's chart.

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Updates 2

Entered a short.

The second red bar tried to go bullish but was pushed back. That gave me the conviction bears are fighting back.

However, I set an aggressive SL to cater for the risk of this trade.

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Final Update

I shifted SL to BE.

Justification
a) Price should continue down as I'm expecting a NSL. If it does that i just keep adjusting BE.

b) IF price decide to go up again, this means COMPLEX CORRECTION, and possible expectation failure. Then i wait for a better entry.

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Closing Remarks

Price extended to 138% level, which coincides with a demand/support structure.

Decided to take the profit.

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  • #24,796
  • Feb 6, 2017 6:21pm Feb 6, 2017 6:21pm
Wow guys lots of stuff going on sorry I've fallen short on catching up. I will try harder tomorrow and address the wild off the wall post that was added today. I appreciate the support but I will address it directly. It made me laugh at first and then felt genuine concern for those working had and making progress putting any weight on such a rediculous post.

I'm concerned for those who trade with FXCM. I hope things work out for you.
If you fail to plan, you plan to fail.
  • #24,797
  • Feb 6, 2017 6:46pm Feb 6, 2017 6:46pm
Quoting Mr. Pip
Wow guys lots of stuff going on sorry I've fallen short on catching up. I will try harder tomorrow and address the wild off the wall post that was added today. I appreciate the support but I will address it directly. It made me laugh at first and then felt genuine concern for those working had and making progress putting any weight on such a rediculous post. I'm concerned for those who trade with FXCM. I hope things work out for you.
Good night Damian, rest well.
  • #24,798
  • Feb 6, 2017 7:04pm Feb 6, 2017 7:04pm
Quoting kelvinyun
Looking to short EURUSD at 38% to 62% level. I'm at work now so I do not have Ninja trader to use. Can only use Tradingview and it does not have tick charts. Can do less bar by bar. EURUSD came down in strength and should have only a shallow correction (ie 24%) which it did. But I'm not comfortable at that level, so if it runs, then let it be. After all, it just made a failed expectation, so i'm looking to short at 38% to 62% level. EURUSD.jpg;2175434 Updates Price hit 38% and immediately had a retrace. (To fxtrading201, is this the proof you needed?)...
Well done Kelvinyun,

I was tracking it too, but got distracted by my children and missed the entry. I trade with even shorter TF and would have entered at 1.07340. Nice to follow it doing exactly what it was supposed to do (no sarcasm), missed it at that's it. My awareness of the price behaviour has increased heaps thanks to this thread.
  • #24,799
  • Feb 6, 2017 7:46pm Feb 6, 2017 7:46pm
Quoting Mr. Pip
fallenI'm concerned for those who trade with FXCM. I hope things work out for you.
Mr Pip, thank you for this wonderful system, my trading andundrstanding of market has improved tremendously since I stumbled upon this thread.
Pls if u can pm me, what broker do u recommend or which one do you use now?

I hope am not out of line
  • #24,800
  • Feb 6, 2017 10:02pm Feb 6, 2017 10:02pm
Quoting kelvinyun
{image} {image} {image} {image} {image}
Nice work! I was going to comment on the fact that you could've let it run with aggressive trailing but then I saw that you placed your SL behind your entry candles which gives you a good R:R . I suppose you know that you are hurting the expectancy of the trade with this stop placement?
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