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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

  • #27,121
  • Mar 21, 2017 7:21am Mar 21, 2017 7:21am
Quoting Maule
{quote} It's like when Mr Pip does a "Rescue Mission" on a few of his live trades. Lets say you were entering with 2 contracts. Scaling in would be entering twice with 1 contract. Your first entry would with one contract and your second entry would be with one contract as well, for a total of two. It's simply splitting up your order. Lets say your expectation is for a NSH, Mr Pip's training says to enter at the next HL. So you enter at the first HL with 1 contract instead of 2. Price then Forms a NSH then another HL but you're still in the trade....

Thanks Maule perfectly clear now i did not know this, did not watched the live yet, even i like to trade something similar most for my exit as you can see on my previous post on UJ m5, never did for my entry but i will think about this, thanks, also as i'm trading m1,m5 when i finished my analysis i enter with really tight stop most of the time, 90% 5-7 pips and i prefer to enter again on good opportunity same i did today on UJ again, was stopped 2 times @be+ and the third attempt was the good one, may be another way to keep my risk low.. Anyway i appreciated your explanation, thanks.
There is no way to happiness , happiness is the way.
  • #27,122
  • Mar 21, 2017 8:13am Mar 21, 2017 8:13am
Quoting jmezz
I think a couple of you asked where I've been... I've been a little busy but also still trading. Working some new things into my methodology and don't feel this thread is the place to share them as I don't want to derail it. Also don't think there's much else I can do in this thread to bring value to it. I'll check in from time to time though, good luck.
Your posts have been really valuable to me, i wish you the best in your new ventures
  • #27,123
  • Mar 21, 2017 8:16am Mar 21, 2017 8:16am
Hello traders!

Looking at a LONG setup on USDJPY
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  • #27,124
  • Mar 21, 2017 8:27am Mar 21, 2017 8:27am
The bears are too strong, and it's a counter order flow trade. Skip it.
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  • #27,125
  • Mar 21, 2017 8:52am Mar 21, 2017 8:52am
+15 on YM. Would have been more intelligent to hold, but ok still happy
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  • #27,126
  • Mar 21, 2017 9:01am Mar 21, 2017 9:01am
Quoting Ockham
{quote} Hi finfresh, just my 2 cents on your trade, first your R:R is excellent but as Mr.Pip said in his video around 78.6% fibo and above R:R is good because risk is also higher. On your graph we can see that bear momentum was weak, there was also a complex correction and price broke with bull and good bull momentum, as you enter around 78.6% after a nice bear engulfing i would probably keep my risk smaller and set my SL above the 113.200 key level which if the price broke this level it is a refutation of possible NSL. But of course keep in mind...
Hi Ockham. Thanks for the comments, I appreciate it.
Yes I guess that's the risk I take, taking these riskier type trades.
As well as the poor bearish momentum, there was also a PRZ around the Round Number, which I failed to take into account and took the trade right into it.
The best thing I can take away from it is that emotionally, it didn't put me off taking a UJ trade (you took a similar trade by the looks), which wiped out this loss
  • #27,127
  • Mar 21, 2017 9:08am Mar 21, 2017 9:08am
Im on the lookout for a short on the YM, although i need to be extra careful as were back in this pesky range

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  • #27,128
  • Mar 21, 2017 9:15am Mar 21, 2017 9:15am
UJ Short from London Open (M5)
Expecting at least a re-rest of the previous low.
I gave this trade a lot more breathing space than previous trades (although I managed to protect relatively early).
I ended up getting out when it looked like price was struggling to get below the short term low.
In hindsight, I should have held it to my original expectations and let it go a bit longer.
Still quite happy that I managed to let it go for a 2:1 and wipe out my earlier loss.

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*Edit, Just hit my original TP. Ah well. Next!
  • #27,129
  • Mar 21, 2017 9:23am Mar 21, 2017 9:23am
Still learning but my stats to date are
11 Stops Hit
15 Take profit
10 Breakeven (plus a bit)
Its a small sample of data going back to February, I can't at this stage say it means much as I can see plenty of sloppy trades but I can also see where and how to improve.

Thank you too all the people here that take the time to post their trade and of course thank you Mr Pip.
Hope I can level up soon and add some value to this thread.
  • #27,130
  • Mar 21, 2017 9:35am Mar 21, 2017 9:35am
Huge volatility. No news to be found. Just watching the fireworks.
  • #27,131
  • Mar 21, 2017 9:45am Mar 21, 2017 9:45am
My first possible short area in the green, depending how it arrives there

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  • #27,132
  • Mar 21, 2017 10:08am Mar 21, 2017 10:08am
Quoting Milfortra
Huge volatility. No news to be found. Just watching the fireworks.
Probably Trump farted and burped at the same time!

On a more serious note I've been TRYING to trade 6J (JPY/USD futures) but it's pretty much a runaway market. Shallow corrections to the 38.2 fib and it shoots up. I missed many entries and I just feel super unsure to enter above 38.2. And now I'm just beating my self up about it because this is happening for the second time.
  • #27,133
  • Mar 21, 2017 11:08am Mar 21, 2017 11:08am
Quoting jmezz
I think a couple of you asked where I've been... I've been a little busy but also still trading. Working some new things into my methodology and don't feel this thread is the place to share them as I don't want to derail it. Also don't think there's much else I can do in this thread to bring value to it. I'll check in from time to time though, good luck.
Thank you for your contribution. I too valued your post and insight. best wishes my friend.
  • #27,134
  • Mar 21, 2017 11:44am Mar 21, 2017 11:44am
Quoting Ockham
{quote} Thanks Maule perfectly clear now i did not know this, did not watched the live yet, even i like to trade something similar most for my exit as you can see on my previous post on UJ m5, never did for my entry but i will think about this, thanks, also as i'm trading m1,m5 when i finished my analysis i enter with really tight stop most of the time, 90% 5-7 pips and i prefer to enter again on good opportunity same i did today on UJ again, was stopped 2 times @be+ and the third attempt was the good one, may be another way to keep my risk...
Glad it made sense. But be warned. It is not an intra-day trading technique. It's more for Swing Traders & Position traders. Because those trades can last longer than a day.
Play the hand you were dealt.
  • #27,135
  • Mar 21, 2017 1:07pm Mar 21, 2017 1:07pm
Quoting x3m-PippiN
{quote} Probably Trump farted and burped at the same time! On a more serious note I've been TRYING to trade 6J (JPY/USD futures) but it's pretty much a runaway market. Shallow corrections to the 38.2 fib and it shoots up. I missed many entries and I just feel super unsure to enter above 38.2. And now I'm just beating my self up about it because this is happening for the second time.
I hate Yen with a passion. I refuse to trade a currency where the Country's Central Bank has a history of unannounced market manipulation. Yen and Franc are both on my do not trade list for that reason.
  • #27,136
  • Mar 21, 2017 1:15pm Mar 21, 2017 1:15pm
Quoting Forthebulls
{quote} I hate Yen with a passion. I refuse to trade a currency where the Country's Central Bank has a history of unannounced market manipulation. Yen and Franc are both on my do not trade list for that reason.
I've noticed that USD/JPY is easy to trade with Mr. Pips method. It tends to move very incrementally with micro, intra, and long term order flow and it has a habit of very likely testing the previous NS* with the next HL/LH. I don't disagree with the potential of market manipulation but if you follow it on 5m incrementally it is fairly easy to trade as long as your patient. (I'm still working on the self control and get mixed up trading retracements due to lack of patience, but it is definitely something I've tested positively and frequently)
  • #27,137
  • Mar 21, 2017 1:16pm Mar 21, 2017 1:16pm
YM 06-17 610tick and 233 tick, my perspective,

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I follow only one person and his strategies...
  • #27,138
  • Mar 21, 2017 2:32pm Mar 21, 2017 2:32pm
Quoting S41nt
{quote} I've noticed that USD/JPY is easy to trade with Mr. Pips method. It tends to move very incrementally with micro, intra, and long term order flow and it has a habit of very likely testing the previous NS* with the next HL/LH. I don't disagree with the potential of market manipulation but if you follow it on 5m incrementally it is fairly easy to trade as long as your patient. (I'm still working on the self control and get mixed up trading retracements due to lack of patience, but it is definitely something I've tested positively and frequently)...
I have friends who trade a lot of Yen. Just been burnt by it too many times myself. I was trading hourly binaries for a while and Yen has a tendency to undergo crazy end of hour moves that will violate the strike price and leave you out of the money with no time to close early to offset the loss. I don't have any proof but I think it's manipulation of the spot market in tandem with options, and Yen was always the worst, IMO. Now that I've moved away from Spot and binaries I just find indexes like DOW and S&P much more consistent as the stocks in the indexes are managed and changed to have a Bullish long term bias. Unfortunately, due to my day job, I'm not able to trade Chicago or New York hours that much
  • #27,139
  • Mar 21, 2017 7:09pm Mar 21, 2017 7:09pm
Quoting Forthebulls
{quote} I have friends who trade a lot of Yen. Just been burnt by it too many times myself. I was trading hourly binaries for a while and Yen has a tendency to undergo crazy end of hour moves that will violate the strike price and leave you out of the money with no time to close early to offset the loss. I don't have any proof but I think it's manipulation of the spot market in tandem with options, and Yen was always the worst, IMO. Now that I've moved away from Spot and binaries I just find indexes like DOW and S&P much more consistent as the stocks...
I completely understand that friend. Binaries burned me too many times so the change to spot forex has been much better financially. I only watch USD/JPY so I'm probably a bit biased anyway. I haven't looked at any indexes that much and the only reason I stuck with U/J was because it's not to crazy like crosses and faster than other major pairs from what I've seen. That sucks that you miss Chicago and New York, they seem to be the most active and much better than Asian.
  • #27,140
  • Mar 21, 2017 8:17pm Mar 21, 2017 8:17pm
Quoting Maule
{quote} GN 4Hr Trade. Update#3 Second Trade up +84 pips. Rescue Mission Success. On a side note. I will stop moving SL to BE and observe how that goes for the next few trades. If successful, i'll make that a permanent part of my trading plan. Reason: I realize FX is more volatile than Futures so that's why we all keep getting BE Trades. {image}
GN 4Hr Trade. Update#4
1st Trade up +58pips. 2nd Trade up +150 pips.
Not moving SL to BE. Lets see what happens.
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Play the hand you were dealt.
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