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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

  • #26,921
  • Mar 15, 2017 9:36am Mar 15, 2017 9:36am
Quoting x3m-PippiN
{quote} 233 ticks per bar
Great, thanks for both your answers.

I can't seem to find a 233 chart, I assume it exists somewhere as an indi for mt4. Only one I found is not compiled and won't compile under the new version of mt4.
  • #26,922
  • Mar 15, 2017 9:44am Mar 15, 2017 9:44am
Quoting BenScoobert
{quote} Great, thanks for both your answers. I can't seem to find a 233 chart, I assume it exists somewhere as an indi for mt4. Only one I found is not compiled and won't compile under the new version of mt4.
The 233 tick chart doesn't mean anything. Damian trades a 233 tick chart because it moves with the speed he is comfortable with.
I like to trade 6J (JPY/USD futures) and I use a 144 tick chart. I've used 5min and 15 min charts when I first started using this method.
Also whatever you use on spot FX it won't be a true tick chart. A 233 tick bar represents 233 trades in that bar ..and you can't get that info on spot FX because it is a decentralized market.
  • #26,923
  • Mar 15, 2017 10:05am Mar 15, 2017 10:05am
Stopped out for -30 on 6E

Was trading with the short term expectation of a nsl and the increased momentum on the 2nd push down

Attached Image (click to enlarge)
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  • #26,924
  • Mar 15, 2017 11:13am Mar 15, 2017 11:13am
Quoting Hazza88
Stopped out for -30 on 6E Was trading with the short term expectation of a nsl and the increased momentum on the 2nd push down {image}
Sorry for the stupid question: Which instrument is 6E?
  • #26,925
  • Mar 15, 2017 11:15am Mar 15, 2017 11:15am
Quoting evocpr19
{quote} Sorry for the stupid question: Which instrument is 6E?
No question is a stupid question.

It is the eur/usd futures contract.
  • #26,926
  • Mar 15, 2017 11:16am Mar 15, 2017 11:16am
The market seems really slow today.
I am in a trade but moving very slow.
May just take profit and close for the day

Attached Image (click to enlarge)
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  • #26,927
  • Mar 15, 2017 11:26am Mar 15, 2017 11:26am
Quoting x3m-PippiN
...A deep correction is when price retraces more than 61.8% of the main swing (this is a bit objective). A complex correction is a correction which consists of more than 1 swing (again objective since I don't view the ab=cd or abcd pattern as a complex correction)

I thought an AB=CD correction was considered a complex correction. Regarding the AB=CD correction, should we consider the CD leg as a change of order flow since we are going behond the AB leg? There may be a kind of conflict there, no?
  • #26,928
  • Mar 15, 2017 11:27am Mar 15, 2017 11:27am
moved stop up to protect some of position.

Attached Image (click to enlarge)
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  • #26,929
  • Mar 15, 2017 11:30am Mar 15, 2017 11:30am
Quoting crixus
{quote} I thought an AB=CD correction was considered a complex correction. Regarding the AB=CD correction, should we consider the CD leg as a change of order flow since we are going behond the AB leg? There may be a kind of conflict there, no?
1)Like I said, I personally don't view it as such.
2)If it's still in the main swing (NSH/NSL or HL/LH hasn't been broken) why should there be any conflict?
  • #26,930
  • Mar 15, 2017 11:44am Mar 15, 2017 11:44am
Just a friendly reminder to everyone, FOMC at 2PM EST, and a rate hike is expected. Make sure your positions are protected if you are in the market.
  • #26,931
  • Mar 15, 2017 11:59am Mar 15, 2017 11:59am
Quoting trader1969
{quote} No question is a stupid question. It is the eur/usd futures contract.
Thank you
  • #26,932
  • Mar 15, 2017 12:25pm Mar 15, 2017 12:25pm
Quoting BenScoobert
Hi, I'm restarting this thread with the wife, we hope to double team and really absorb this method. 1st question, I see Damian has 2 youtube accounts, 27 older videos on this account https://www.youtube.com/channel/UCw8CjBPrQlRH7jbiRbQcc1w/videos and 21 newer ones on this account https://www.youtube.com/channel/UCw8CjBPrQlRH7jbiRbQcc1w/videos Are they all still valid? Would it be best to start at the oldest and just work our way through them? We're not clear on what is meant by complex correction and deep correction can someone...
Also look for Dcastfx on YouTube. Those are his first videos.
Wow! I've got some experience to gain.
  • #26,933
  • Mar 15, 2017 1:08pm Mar 15, 2017 1:08pm
Quoting BenScoobert
Hi, I'm restarting this thread with the wife, we hope to double team and really absorb this method. 1st question, I see Damian has 2 youtube accounts, 27 older videos on this account https://www.youtube.com/channel/UCw8CjBPrQlRH7jbiRbQcc1w/videos and 21 newer ones on this account https://www.youtube.com/channel/UCw8CjBPrQlRH7jbiRbQcc1w/videos Are they all still valid? Would it be best to start at the oldest and just work our way through them? We're not clear on what is meant by complex correction and deep correction can someone...
Take this, (https://drive.google.com/drive/u/1/folders/0Bw3HN3otAEYvS3Z2cmxvb3lWMFE)

All HDs, taken from all three of mr.pip's channels and they are all named properly. Up to Date as well.

All credits to Mr.Pip.
I follow only one person and his strategies...
  • #26,934
  • Mar 15, 2017 1:22pm Mar 15, 2017 1:22pm
Quoting crixus
{quote} I thought an AB=CD correction was considered a complex correction. Regarding the AB=CD correction, should we consider the CD leg as a change of order flow since we are going behond the AB leg? There may be a kind of conflict there, no?
A complex correction is when price breaks immediate OF structure:
Attached Image (click to enlarge)
Click to Enlarge Name: complex correction.png Size: 48 KB

at least, this is how I understand it from Damian's lessons
the 3rd wave is the crowd's wave
  • #26,935
  • Mar 15, 2017 3:05pm Mar 15, 2017 3:05pm
Quoting juriFX
{quote} A complex correction is when price breaks immediate OF structure: {image} at least, this is how I understand it from Damian's lessons
That's what i thought. In this case, this is also a change of order flow in your example to the downside. right?
  • #26,936
  • Mar 15, 2017 3:09pm Mar 15, 2017 3:09pm
Quoting chotabheem
{quote} Take this, (https://drive.google.com/drive/u/1/folders/0Bw3HN3otAEYvS3Z2cmxvb3lWMFE) All HDs, taken from all three of mr.pip's channels and they are all named properly. Up to Date as well. All credits to Mr.Pip.
What tool did you use to download these youtube videos?
  • #26,937
  • Mar 15, 2017 3:23pm Mar 15, 2017 3:23pm
Hey guys. Mr. P - I am sure you are at the hospital right now but congratulations on the newborn! Hope everything went smoothly for you and your family! I have a question for the group (US traders) about the SEC regulations on day trading. I have read up a few articles and from what I understand regulation states that only 3 day trades are allowed in five business days on accounts with less than $25,000 equity. So what are my options? I will be starting with far less than $25,000 so are there ways to bypass this regulation? Should I look for 3 day trades per week and a few interday trades? Should I stick with just 3 per week? Or am I stuck with 3 day trades per week until I get to $25,000? What were your experiences?
  • #26,938
  • Mar 15, 2017 3:45pm Mar 15, 2017 3:45pm
Quoting crixus
{quote} That's what i thought. In this case, this is also a change of order flow in your example to the downside. right?
The change to the downside is only in the immediate OF, price enters a complex correction meaning that the "trading order flow" and short term OF are not in alignment (opposite direction).
You usually want to trade follwing the "trading order flow", for example, to trade the intraday order flow, a 233 tick or a 3m/5m chart would be appropriate.
An expectation change occurs only if the "trading order flow" structure is broken (blue swings from example drawing above).

Helpful video on this topic:
https://www.youtube.com/watch?v=xcCtzSnbj9Y
the 3rd wave is the crowd's wave
  • #26,939
  • Mar 15, 2017 3:58pm Mar 15, 2017 3:58pm
Quoting Lundies10
Hey guys. Mr. P - I am sure you are at the hospital right now but congratulations on the newborn! Hope everything went smoothly for you and your family! I have a question for the group (US traders) about the SEC regulations on day trading. I have read up a few articles and from what I understand regulation states that only 3 day trades are allowed in five business days on accounts with less than $25,000 equity. So what are my options? I will be starting with far less than $25,000 so are there ways to bypass this regulation? Should I look for 3 day...
I may be wrong, I am not a lawyer. But I believe this may apply to stocks only. The purpose is to prevent scalping, an extremely short term trade usually entered under the pretense of imbalance or arbitrage to grab one or two ticks in a few minutes/seconds. Trading FX and futures I have never had any issues with scalping or had my trading restricted by a broker due to it.
  • #26,940
  • Mar 15, 2017 4:13pm Mar 15, 2017 4:13pm
Quoting Forthebulls
{quote} I may be wrong, I am not a lawyer. But I believe this may apply to stocks only. The purpose is to prevent scalping, an extremely short term trade usually entered under the pretense of imbalance or arbitrage to grab one or two ticks in a few minutes/seconds. Trading FX and futures I have never had any issues with scalping or had my trading restricted by a broker due to it.
Thanks for the answer and you are correct! I should call my broker for questions like these before posting I guess . For those of you with the same question: The 3-day-trade-per-5-days-with-less-than-$25000-equity (it HAS to have a better title) regulation DOES NOT apply to futures and forex.
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