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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

  • #26,621
  • Mar 8, 2017 3:12pm Mar 8, 2017 3:12pm
Hello Traders,

Here is the link to the live stream from today. It was a great session and lots was covered. I hope you all enjoy it and find value. Post your questions or concerns.

https://youtu.be/0K_xk6Y_V04
If you fail to plan, you plan to fail.
  • #26,622
  • Mar 8, 2017 3:13pm Mar 8, 2017 3:13pm
Quoting Mr. Pip
{quote} For the most part it is. When the market is liquid it is a bit faster then the 5 min. I only use the higher tf to draw the SD Zones because I can't condense my 233t more then a few days if that is the same with you then yes by all means use the 1H or whichever TF allows you to draws zones. Just keep in mind that the higher the TF you use the wider these zones get so keep it as close to your trading TF as possible.
Thank you. I trade gold, it has no structure to left as it is making new lows. How would you handle this situation pls?
  • #26,623
  • Edited 4:13pm Mar 8, 2017 3:27pm | Edited 4:13pm
Quoting Mr. Pip
{quote} To be honest, I rather analyze what I am trading and nothing else. I'm not sure why is is different maybe it's the mini and a smaller piece of the pie. I'm not sure but I would stick to the chart I decided I wanted to trade then find the time or tick intervals that gives me the price action I would like to trade.
Thats what I figured. It seems fundamentally irresponsible to trade ONE instrument based a DIFFERENT instruments chart. However, I did make a /M6E demo trade today using the /6E chart and it worked out well, though the two charts don't seem to match perfectly in some areas. The problem I am having with the 89T M6E chart, is the lack of printed bars. Today for example there were only TWO BARS printed from 7:30 am to 1 pm. Thats not tradable. Overall the /M6E chart doesn't seem to move much (even on a 5M or 15M). In the screen shot, you can see the 2 instruments both at the same time frame (89T). Is it common for minis and micros to trade with less movement (less than the parent instrument) during a given day?

EDIT: The 2 bar day was actually yesterday but the point remains.
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  • #26,624
  • Mar 8, 2017 3:48pm Mar 8, 2017 3:48pm
Thanks Mr Pip, This thread is really a gold mine. I am starting in harmonics and have to go through the thread.

1300+ pages is going to take long...I will catch up.

Appreciate your taking time and spreading the knowledge.
  • #26,625
  • Mar 8, 2017 4:15pm Mar 8, 2017 4:15pm
Quoting SidE1
{quote} Thank you. I trade gold, it has no structure to left as it is making new lows. How would you handle this situation pls?
I would not take any signal long and when there is an absence of data to the left focus on psychological factors like round numbers. Go out to the
minthly to find something that you might be able to use. It sucks to be in no
man's land. We were there with the DOW a couple of weeks ago.
If you fail to plan, you plan to fail.
  • #26,626
  • Mar 8, 2017 4:19pm Mar 8, 2017 4:19pm
Quoting Lundies10
{quote} Thats what I figured. It seems fundamentally irresponsible to trade ONE instrument based a DIFFERENT instruments chart. However, I did make a /M6E demo trade today using the /6E chart and it worked out well, though the two charts don't seem to match perfectly in some areas. The problem I am having with the 89T M6E chart, is the lack of printed bars. Today for example there were only TWO BARS printed from 7:30 am to 1 pm. Thats not tradable. Overall the /M6E chart doesn't seem to move much (even on a 5M or 15M). In the screen shot, you can...
Liquidity is a major component the trading if it doesn't move then you can't make money. Why have you chosen that instrument and can you pick a different one?
If you fail to plan, you plan to fail.
  • #26,627
  • Mar 8, 2017 4:22pm Mar 8, 2017 4:22pm
Quoting brrand
Thanks Mr Pip, This thread is really a gold mine. I am starting in harmonics and have to go through the thread. 1300+ pages is going to take long...I will catch up. Appreciate your taking time and spreading the knowledge.
Dont feel the need to go through all the pages. There is a link on the first page that gives you a place to start. You can also watch my videos on my channels and and the live streams and that should speed things up a bunch. Welcome aboard!
If you fail to plan, you plan to fail.
  • #26,628
  • Mar 8, 2017 4:25pm Mar 8, 2017 4:25pm
Quoting Mr. Pip
{quote} Liquidity is a major component the trading if it doesn't move then you can't make money. Why have you chosen that instrument and can you pick a different one?
I have chosen /M6E due to the low margin and relatively low value per tick. I thought it would be a good beginner instrument so I don't lose an arm and a leg when I graduate from demo. I am open to different instruments and will do some more research. Recommendations are welcome of course .
  • #26,629
  • Mar 8, 2017 4:32pm Mar 8, 2017 4:32pm
Quoting Lundies10
{quote} I have chosen /M6E due to the low margin and relatively low value per tick. I thought it would be a good beginner instrument so I don't lose an arm and a leg when I graduate from demo. I am open to different instruments and will do some more research. Recommendations are welcome of course .
I certainly understand that but perhaps spot Forex may be better for you until you feel that comfort level. The hardest thing to do it to trade an instrument that doesn't move. Maybe others has some suggestions. Let's see if anyone posts alternatives.
If you fail to plan, you plan to fail.
  • #26,630
  • Mar 8, 2017 6:14pm Mar 8, 2017 6:14pm
Quoting Mr. Pip
Hello Traders, Here is the link to the live stream from today. It was a great session and lots was covered. I hope you all enjoy it and find value. Post your questions or concerns. https://youtu.be/0K_xk6Y_V04
Thanks Damian for your effort and time again. Only managed to catch you live on the first hour as I had an early start this morning. Will be playing catching up in awhile on your video via YouTube. Have a great evening and take care!
  • #26,631
  • Mar 8, 2017 9:06pm Mar 8, 2017 9:06pm
Quoting Maule
EU 4H Trade I know Mr Pip wouldn't approve of this Bar by Bar Rotation Candle but Entered Short on a Pin Bar. TP at the 127% {image}
EU 4H Trade.
Update# 1
Moved SL to BE nearing test of structure.
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Play the hand you were dealt.
  • #26,632
  • Mar 8, 2017 9:34pm Mar 8, 2017 9:34pm
Quoting Mr. Pip
Hello Traders, Here is the link to the live stream from today. It was a great session and lots was covered. I hope you all enjoy it and find value. Post your questions or concerns. https://youtu.be/0K_xk6Y_V04
Great video Mr_Pip.....Thank you !!!
  • #26,633
  • Mar 8, 2017 10:05pm Mar 8, 2017 10:05pm
Quoting Mr. Pip
{quote} Shake it off we can't win every day.
Emotions are bad for the bottom line.... But reviewing losing trades after the dust settles down is very important for me!!!
  • #26,634
  • Mar 8, 2017 11:46pm Mar 8, 2017 11:46pm
Quoting Lundies10
{quote} I have chosen /M6E due to the low margin and relatively low value per tick. I thought it would be a good beginner instrument so I don't lose an arm and a leg when I graduate from demo. I am open to different instruments and will do some more research. Recommendations are welcome of course .

The 6E (eur/usd) ,E7 (e-mini eur/usd) and the M6E (e-micro eur/usd) are all EUR/USD contracts but with different margin requirement (6E being the highest) and different tick value (6E again highest 6.25 per tick). IF eur/usd moves 50 points ..so do all the 3 instruments. Check a daily, 4H or 1H chart and you will see that they look pretty much the same. You can't use a tick/volume chart on E7 and M6E because they have relatively low volume and there aren't many bars being printed. That said you can analyse 6E and place orders on one of the other two instruments BUT if there is a major move where price shoots in one direction (50+ pips) don't expect a good fill if you even get one because of lower liquidity. I've taken a couple of trades like these on 6J (JPY/USD) and J7 where my stop was more than I could afford but I don't like being exposed to sudden moves like that so I decided not to do it.
  • #26,635
  • Mar 9, 2017 2:14am Mar 9, 2017 2:14am
Currently long on USDJPY, expectation for NSH !!!!
  • #26,636
  • Edited 3:46am Mar 9, 2017 2:37am | Edited 3:46am
Quoting Lundies10
{quote} I have chosen /M6E due to the low margin and relatively low value per tick. I thought it would be a good beginner instrument so I don't lose an arm and a leg when I graduate from demo. I am open to different instruments and will do some more research. Recommendations are welcome of course .
The M6E or B or C have very low volume and its better not to trade these.
I think a Forex broker who accepts micro lots would be a good choice to learn this method , before jumping in with bigger sums of money.
1 microlot equals 1000 US dollar so 1 pip equals 0.10 Dlr.
Leverage is mostly around 100 so you can trade up to a full lot (100.000 US dlr) if you are fully comfortable with the method.
Mind that I don't advice you to tradea full lot with only 1000 dollar account.
  • #26,637
  • Mar 9, 2017 2:47am Mar 9, 2017 2:47am
Quoting Velikov
Currently long on USDJPY, expectation for NSH !!!!
Trade closed manually, P/L + 23 , will post a chart later..... !!!
  • #26,638
  • Mar 9, 2017 3:03am Mar 9, 2017 3:03am
Morning

Great live session again D

super

Aj1
  • #26,639
  • Edited 3:57am Mar 9, 2017 3:38am | Edited 3:57am
Went long on EU after circled rotation candle with an expectation of a NSH. Once it tested structure I moved my stop to ~ BE and got stopped out.

Because there was such a strong bear candle after the test of structure, I was tempted to just close the trade there and then, and I would have been up a few pips. When I test the high/low my current trading plan just has me put my stop at BE (or therabouts depending if there is structure close by) . I just ride it out until I get close to my target or hit my stop.

Mr. Pip, what do you advise if you test structure but then show immediate strength against the trend right after the test?
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  • #26,640
  • Mar 9, 2017 4:13am Mar 9, 2017 4:13am
Hi All.

Is there anyone here from the UK who has found a good futures broker in the UK or anyone that has opened a US futures broker account from the UK.

I have tried looking through websites etc and we seem very limited with futures brokers here.

I know that Ninjatrader Brokerage do take on UK customers so wondered if anyone has experience of a US account from the UK.

Hope that all makes sense.

Thanks.

Jon
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