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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

  • #27,521
  • Apr 7, 2017 2:01am Apr 7, 2017 2:01am
UJ should be making NSL.

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  • #27,522
  • Apr 7, 2017 2:05am Apr 7, 2017 2:05am
Quoting CrocodileRex
Hello traders, Yesterday was a good day to me also. 3 losses, 6 wins, 1 breakeven. Feel free to comment on my charts. {image} {image} {image} {image} {image} {image} {image} {image} {image} {image}
You choose good entries and nice trades
I'm just 'curious' to know why you choose to trade M15 with ST expectation using swing structure to choose your entries, most @61.8% fibo ? What about drawing your structure and fibo in M15 and placing your entries in m1-m5 to catch some better entries and may be exited as well ? seems to work fine for you so i'm interesting by your thinking process about this

Cheers
Ockham
There is no way to happiness , happiness is the way.
  • #27,523
  • Apr 7, 2017 2:44am Apr 7, 2017 2:44am
Quoting Ockham
{quote} You choose good entries and nice trades I'm just 'curious' to know why you choose to trade M15 with ST expectation using swing structure to choose your entries, most @61.8% fibo ? What about drawing your structure and fibo in M15 and placing your entries in m1-m5 to catch some better entries and may be exited as well ? seems to work fine for you so i'm interesting by your thinking process about this Cheers Ockham
Because the commision is killing me in the shorter timeframe. The smallest pip i can go for is around 10 pips for any trade, anything less than that is basically just not putting the odds in favor because of the spread and commision. I just got taken out by a nzd/cad trade with a 10pips stoploss while the spread is already 1.5-2.0pips. And the ATR is just 30 pips for the current session, imagine scalping 10 pips out of a 30 pips movement. Turns out the trade spiked me out at 78.6 because i didnt put +1pip for the spread and turned to my favor.

Also, it will drive me crazy if i switch to m1-m5. All the shorter swings will somehow confuse the hell out of me. I know, trading 15min and 30min will put you in the "pain train" more often but i think forex is not like the eminis. Most forex pairs don't move for 10 pips unless you board the pain train for at least 15min to 1 hour. Whereas in the indices, most movements can occur in less than 10-20 mins. I have not much experience in trading indices but that's how i see it.

Especially on fridays like today, be prepared to board the pain train because it might be slower than tuesdays, wednesdays and Thursdays. In fact, i am off to a bad start today. Meh, maybe i should stop for a while.
  • #27,524
  • Apr 7, 2017 2:52am Apr 7, 2017 2:52am
Quoting CrocodileRex
Hello traders, Yesterday was a good day to me also. 3 losses, 6 wins, 1 breakeven. Feel free to comment on my charts. {image} {image} {image} {image} {image} {image} {image} {image} {image} {image}
Hi CrocodileRex
You certainly have an interesting way to trade the method.
By the looks of it, you are putting your SL below the rotation candle.
So you are counting on the rotation being the end of the correction.
And with your TP set at 1:1, you can pretty much set your trade and leave it (until it either hits TP or SL) so no need to monitor it.
It will be interesting to see how your results turn out.
It does look like at times, you don't wait for a proper rotation candle.
Do you have another method for entry?
Finfresh
  • #27,525
  • Apr 7, 2017 3:05am Apr 7, 2017 3:05am
Quoting finfresh
{quote} Hi CrocodileRex You certainly have an interesting way to trade the method. By the looks of it, you are putting your SL below the rotation candle. So you are counting on the rotation being the end of the correction. And with your TP set at 1:1, you can pretty much set your trade and leave it (until it either hits TP or SL) so no need to monitor it. It will be interesting to see how your results turn out. It does look like at times, you don't wait for a proper rotation candle. Do you have another method for entry? Finfresh
Yes correct, i put my stoploss at the last rotation candle/reversal bars or at the nearest 78.6 fib. My concept is to gun for 1:1 ratio and hope that my total wins will overcome my total losses. Keep in mind that i still need to cover the commision cost also so its not really 1:1 actually.

I do wait for a rotation candle though. All my entries are based on rotation candles because you have no idea if price is gona break through your 50-61.8 fib retracement at all. It's just that my concept of a rotation candle is basically engulfing or pin bars. Do you guys have other rotation candle concept to share?
  • #27,526
  • Apr 7, 2017 3:19am Apr 7, 2017 3:19am
Quoting CrocodileRex
{quote} Yes correct, i put my stoploss at the last rotation candle/reversal bars or at the nearest 78.6 fib. My concept is to gun for 1:1 ratio and hope that my total wins will overcome my total losses. Keep in mind that i still need to cover the commision cost also so its not really 1:1 actually. I do wait for a rotation candle though. All my entries are based on rotation candles because you have no idea if price is gona break through your 50-61.8 fib retracement at all. It's just that my concept of a rotation candle is basically engulfing or pin...
Ok got it.
This vid probably sums up a Mr Pip rotation candle:
https://www.youtube.com/watch?v=olU9Hyn-YkU
  • #27,527
  • Apr 7, 2017 3:31am Apr 7, 2017 3:31am
Quoting kelvinyun
{quote} yeah, sellers, not buyers... lol. lucky you noticed. glad it turned out well. anything to do with the syrian missiles? I made a 20 pip loss selling USDJPY. Expectation failure. {image}
heh didn't knew about the syrian missiles.

I guess the swing I got my trade in ( bottom arrow ) actually broke to the upside the left structure, even though not by much. Previous history of bear power and being on the 61.8 fib made me do it. My stop was almost triggered ( wast at the start of the previous swing, around 12260 ).

What do you think ? Was it just luck ? I think the expectancy was for a NSL, so ... was not only luck, but the bulls showed the power to fail the expectancy.
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  • #27,528
  • Apr 7, 2017 4:38am Apr 7, 2017 4:38am
I am a little worried trading today, since my Equity graph for the week approaches a strong selling area. It may not be good, although it has nice momentum.
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  • #27,529
  • Apr 7, 2017 4:44am Apr 7, 2017 4:44am
Quoting pereiraalex
I am a little worried trading today, since my Equity graph for the week approaches a strong selling area. It may not be good, although it has nice momentum. {image}
The way i see it, it's still in a uptrend. Ride it out my friend!
  • #27,530
  • Apr 7, 2017 4:51am Apr 7, 2017 4:51am
Hi Mr. Pip and traders!

Ive been reading your thread for a week now and im both excited for the possibilities and humbled for your iniciative.
I am currently arround post 1770#, at your supply demand lesson. For 3 days now ive been trading my demo account with all you have teached, but i dont seem to be able to be profitable... could you possibly see what am i doing wrong? ill annex an expectation i have in the EURUSD and await your answer. Thanks in advance!

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  • #27,531
  • Apr 7, 2017 4:53am Apr 7, 2017 4:53am
I am at post 17070#, pardon
  • #27,532
  • Apr 7, 2017 6:03am Apr 7, 2017 6:03am
Quoting tomazlucena
Hi Mr. Pip and traders! Ive been reading your thread for a week now and im both excited for the possibilities and humbled for your iniciative. I am currently arround post 1770#, at your supply demand lesson. For 3 days now ive been trading my demo account with all you have teached, but i dont seem to be able to be profitable... could you possibly see what am i doing wrong? ill annex an expectation i have in the EURUSD and await your answer. Thanks in advance! {image}
Price has just made a new structure low so your expectation is for a correction followed by another NSL

my recommendation would be to watch the videos as you come across them in order (note that order down so you can watch them again in order and again and again as you will pick up on things that mr pip says that you didnt before)

stick at it like anything new it takes time but you will get there and ask away on this forum as people are most helpful hope this helps
  • #27,533
  • Apr 7, 2017 6:23am Apr 7, 2017 6:23am
Quoting johny8984
{quote} Price has just made a new structure low so your expectation is for a correction followed by another NSL my recommendation would be to watch the videos as you come across them in order (note that order down so you can watch them again in order and again and again as you will pick up on things that mr pip says that you didnt before) stick at it like anything new it takes time but you will get there and ask away on this forum as people are most helpful hope this helps
i forgot to say, but the orange movements were my predictions. So what i predict is an extension to a nsl at 113% from the last blue movement and then to a lh, is that correct?

I am doing that, i´m reading all posts by order and the lessons from Mr. Pip wich i reviewed a couple of times already. I´ve just started posting now because as i was failling ,i was afraid i would be doing something wrong and instead of learning, i was cementing bad habits.

Thanks for the reply btw!
  • #27,534
  • Apr 7, 2017 7:16am Apr 7, 2017 7:16am
Quoting tomazlucena
{quote} i forgot to say, but the orange movements were my predictions. So what i predict is an extension to a nsl at 113% from the last blue movement and then to a lh, is that correct? I am doing that, im reading all posts by order and the lessons from Mr. Pip wich i reviewed a couple of times already. Ive just started posting now because as i was failling ,i was afraid i would be doing something wrong and instead of learning, i was cementing bad habits. Thanks for the reply btw!
in essence yes but that's not to say it wont fall short or exceed your harmonic projection it may have a major or minor reaction at the point it could just blow straight past it may make a small correction on the smaller order flow then reach your level or it may never make it to that point

at the moment with where you have got to with the videos you may not have gotten to the video covering this you mentioned that you have just watched the supply and demand video so im guessing that you have not yet come across the harmonic projections video this is all covered in future videos also once you have watched the training videos watch all of the end of session videos and live streams that are on mr pips YouTube account there is a wealth of information in them as well as various questions asked and answered (there are 2 main accounts and one other that is worth a watch)

also 3 days on a demo account and not profitable when you are still yet to watch the rest of the videos i really wouldn't worry about that just carry on with the learning and i am sure you will crack it keep learning keep asking questions what ever that may be (the only silly question is a question not asked)

also remember you want to trade expectations and that expectation may weaken or strengthen based on the order flow make sure your not chasing price and you take your trades at the levels you have predetermined

my general advice is keep it up and it will come also if you were not aware there is going to be a live stream on Tuesday
  • #27,535
  • Apr 7, 2017 7:55am Apr 7, 2017 7:55am
I just start to understand watching us30 cfd why you're almost all trading the YM futures and not the forex, seems that the dow jones react more than pretty well to structure analysis, since i trade the forex never see clear move respecting order flow like this even if of course it is just an examples.
Would like to try to trade us30 cfd even if spread is 3 pips including commission, seems a bit expensive, in comparaison GER 30 have spread 1 all include as well but GER 30 moves like too much crazy.
Could someone trading futures YM can please tell me average spread and commission ? and if this all day long same or changing a lot when us are closed ?
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There is no way to happiness , happiness is the way.
  • #27,536
  • Apr 7, 2017 8:04am Apr 7, 2017 8:04am
Quoting Ockham
I just start to understand watching us30 cfd why you're almost all trading the YM futures and not the forex, seems that the dow jones react more than pretty well to structure analysis, since i trade the forex never see clear move respecting order flow like this even if of course it is just an examples. Would like to try to trade us30 cfd even if spread is 3 pips including commission, seems a bit expensive, in comparaison GER 30 have spread 1 all include as well but GER 30 moves like too much crazy. Could someone trading futures YM can please tell...
for those of us on YM we are trading with futures and not cfds as they are expensive

you trade contracts so the minimum position size is one contract

with a futures contract there is no spread as such you pay a commission for me 1 round turn (to buy and sell in either order) costs $3.60 Per contract one tick (pip) is worth $5 so cost is essentially 72% of one tick so i i take one tick profit on a trade i make $1.4 2 ticks profit i make $6.4 3 ticks $11.40 hope this is clear

EDIT: prices above shown are for ym i also trade CL(oil) where 1 round turn costs $4.28 with a $10 tick value per contract so commission is 42.8% of a tick
  • #27,537
  • Apr 7, 2017 8:09am Apr 7, 2017 8:09am
another thing to note is a lot of people here are trading on tick charts where time is not a factor it makes the chart a lot easier to read see the images below first is tick then five minute
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  • #27,538
  • Apr 7, 2017 8:22am Apr 7, 2017 8:22am
Quoting johny8984
{quote} for those of us on YM we are trading with futures and not cfds as they are expensive you trade contracts so the minimum position size is one contract with a futures contract there is no spread as such you pay a commission for me 1 round turn (to buy and sell in either order) costs $3.60 Per contract one tick (pip) is worth $5 so cost is essentially 72% of one tick so i i take one tick profit on a trade i make $1.4 2 ticks profit i make $6.4 3 ticks $11.40 hope this is clear EDIT: prices above shown are for ym i also trade CL(oil) where 1...
Thanks johny8984 for answer, it is very clear and wow it is almost 3 times cheaper than CFD and if there is no spread i guess that the commissions are also fix all day long .. also noticed that from tick charts vs TF charts.
There is no way to happiness , happiness is the way.
  • #27,539
  • Apr 7, 2017 8:24am Apr 7, 2017 8:24am
Quoting Ockham
{quote} Thanks johny8984 for answer, it is very clear and wow it is almost 3 times cheaper than CFD and if there is no spread i guess than commissions are also fix all day long .. also noticed that from tick charts vs TF charts.
yep all day long any day brokers can only change what they charge as commission as well they don't make the prices as its a centralized market on an exchange as opposed to a decentralized market like forex and cfd brokers offer
  • #27,540
  • Apr 7, 2017 9:05am Apr 7, 2017 9:05am
Long.
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