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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

  • #29,701
  • Jun 30, 2017 9:58am Jun 30, 2017 9:58am
Quoting x3m-PippiN
Hey guys, job well done on keeping the thread alive and making points in the market I've been busy and haven't had time to follow it although I always keep the tab open in my browser. {quote} I'm curious what tick number are you using for CL and also are you going to trade the 3 instruments at the same time ?
for CL i use a 618 tick chart

im aiming to be trading cl to start the day maybe with 6j (on a 144 tick chart) when ym opens i imagine that i will move to just managing other positions and focus on ym
  • #29,702
  • Jun 30, 2017 10:02am Jun 30, 2017 10:02am
Looking for deeper correction to go long somewhere at 21280?

Quoting PeterT
Looking for deeper correction to go long somewhere at 21280?
Might not get it though..

Quoting PeterT
Looking for deeper correction to go long somewhere at 21280?
Thinking about a 1:1 to the downside and entry at completion. That would be ideal if bears weaken there
  • #29,703
  • Jun 30, 2017 10:12am Jun 30, 2017 10:12am
I'm looking at 1 to 1 extension to complete at 21340. Doesn't look like much volume and momentum though so doubting it
  • #29,704
  • Jun 30, 2017 10:34am Jun 30, 2017 10:34am
ended up taking 9 on it. Holiday weekend and literally no volume.
  • #29,705
  • Jun 30, 2017 10:36am Jun 30, 2017 10:36am
Quoting csternfx
ended up taking 9 on it. Holiday weekend and literally no volume.
those are in the bag
  • #29,706
  • Jun 30, 2017 10:42am Jun 30, 2017 10:42am
Quoting PeterT
{quote} those are in the bag
I missed the early moves due to a meeting. Looks like a real good short was there.
  • #29,707
  • Jun 30, 2017 10:46am Jun 30, 2017 10:46am
Quoting johny8984
beginning Monday though i will be actively trading CL again though and possibly 6j for one contract a piece and ym ill move back to 2-3 contracts per trade
I would wait for wednesday. Monday/Tuesday holidays in US.
  • #29,708
  • Jun 30, 2017 11:45am Jun 30, 2017 11:45am
Quoting crixus
{quote} I would wait for wednesday. Monday/Tuesday holidays in US.
Yeah just noticed that july 4th celebrations are next week
  • #29,709
  • Jun 30, 2017 11:55am Jun 30, 2017 11:55am
Eventually reached the 1 to 1 target. Should have let it ride out longer, but Friday afternoon is not my favorite place to trade.
Attached Image (click to enlarge)
Click to Enlarge Name: YM 09-17 (233 Tick) 2017_06_30.png Size: 58 KB
  • #29,710
  • Edited 1:15pm Jun 30, 2017 12:03pm | Edited 1:15pm
+0 -1 and +20 today on YM.

First trade Important structure area and 61.8 correction of intraday swing .
I went short at 21328 at break of immediate structure and forming of immediate NSL.
Then I started doubting if I could assume that the market would correct deep, just because there was confluence and a break of immediate structure.
I wanted to get out to avoid being sorry afterwards and exited when price went back to my entry.
Now I wonder if I didn't just throw away a spot on almost perfect entry..
0 pips

Second trade
Wanted to go with the flow. Rotation candle at structure was forming, didn't wait for the close and took it.
It rejected before closing. I saw too much buying and realized I was not in the right spot.
Exited manually.
-1 pips

Third trade
Price was near my AOI which was actually a bit higher but I realized the structure to the left was pretty strong and was afraid price might not get there. Took entry at rotation candle. Was not perfect but took out 50% of previous candle.
Turns out I was a little early but no harm done.
Protected at 21292, above structure, because price reached 61.8% correction of longterm swing and there was a short term 1:1 completion. Protective stop was hit and price went further down.
+20 pips

Have a great weekend everyone!

Attached Image (click to enlarge)
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  • #29,711
  • Jun 30, 2017 6:26pm Jun 30, 2017 6:26pm
Quoting x3m-PippiN
Hey guys, job well done on keeping the thread alive and making points in the market I've been busy and haven't had time to follow it although I always keep the tab open in my browser. {quote} I'm curious what tick number are you using for CL and also are you going to trade the 3 instruments at the same time ?
Hi X3m! Nice to see you drop by. Would be great to see you start posting again in this thread.
  • #29,712
  • Jun 30, 2017 6:35pm Jun 30, 2017 6:35pm
Quoting Victor_Lin
{quote} I like such a strong movement coming into my AOI, and nice rotation candle fight back. It become a very accurate signal. Especially, AOI is supported by structure.
I understand what you mean. I also love to have price bounce off my AOI and not hang around. Guess I had a couple of bad trades trading this way but I also did have fantastic trades which had the same effect. Only need to build my case with more confluence in order to have more confidence in entering without having the fear of price looking like it coming with strength into my AOI. Hope you understand where I am coming from.
  • #29,713
  • Jun 30, 2017 6:39pm Jun 30, 2017 6:39pm
Quoting crixus
{quote} I would wait for wednesday. Monday/Tuesday holidays in US.
Hi guys. Isn't Monday still a working day for US? 4th of July falls on a Tuesday. I guess volume might be low on Monday too.
  • #29,714
  • Jul 1, 2017 5:30am Jul 1, 2017 5:30am
Quoting Milfortra
{quote} Hi X3m! Nice to see you drop by. Would be great to see you start posting again in this thread.
Yeah... I'll have to start posting again to keep myself accountable. April was a very profitable month for me. My P/L was through the roof.... and what did I do during the month of May you ask? Well I thought I was god, did some stupid shit and I lost all of the profits plus some more. It was a horrible emotional roller coaster. Afterwards every time I did my analysis I didn't believe that I was on the correct side of things so I didn't enter trades just to watch how I was correct and I could've made points. My emotions have been a mess in the beginning of June so I decided to start from the bottom. I started revisiting Mr.Pip's videos, I dropped 6J and started watching YM and CL and now I'm going to start fresh in July.

Quoting Milfortra
{quote} Hi guys. Isn't Monday still a working day for US? 4th of July falls on a Tuesday. I guess volume might be low on Monday too.
it's a working day but I suppose volume would be a bit low. I'm unsure if I will be trading on Monday or not.
  • #29,715
  • Jul 1, 2017 12:37pm Jul 1, 2017 12:37pm
I will have the charts open on monday to have a look how volume is affected by the holiday have a feeling i may just trade a little earlier and cover the London session if its not too bad but i have a suspicion it will be quiet
  • #29,716
  • Jul 1, 2017 12:40pm Jul 1, 2017 12:40pm
If it is quiet i dont know if a few people would want to hook up on a screen share and do a bit of a question and answers session go through each others trades look at what we like dont like about there trades and try and improve together.

see if we cant iron a few mistakes from our trading for when it resumes properly on Wednesday
  • #29,717
  • Jul 1, 2017 11:41pm Jul 1, 2017 11:41pm
Quoting johny8984
If it is quiet i dont know if a few people would want to hook up on a screen share and do a bit of a question and answers session go through each others trades look at what we like dont like about there trades and try and improve together. see if we cant iron a few mistakes from our trading for when it resumes properly on Wednesday
How do you plan to do this? Sounds interesting....
  • #29,718
  • Jul 2, 2017 1:55am Jul 2, 2017 1:55am
Hello traders,

i hope everyone has a nice weekend so far.

I want to share a picture of my worst trade which happened friday. Plan was as allways to follow the short term order flow and get in at a nice turning point.
Biggest Mistake was that i didnt wait for a deeper correction and went in way too early. In addition the bullish candle I got was very weak. My SL was 30 pips away because of the high volatility, normaly i wouldnt take such a risk. Got slapped for this

Attached Image (click to enlarge)
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I noticed some issues with my setup. Some turning points are just very very weak on the m1 or m5 but with range bars and heiken ashi these points are looking better then they are. I made 2 additional loosing trades after this one and landed at 560. Learned much this day.

i discovered a tick chart indicator for mt4 which i will test the next weeks. Maybe this will improve my entries.

All of you a great start into the next week
Cheers!
  • #29,719
  • Jul 2, 2017 7:04am Jul 2, 2017 7:04am
Quoting Milfortra
{quote} How do you plan to do this? Sounds interesting....
Ill have a look into different ways today a few that spring to mind are gotowebinnar skype or on youtube same as mr pip would good to get a few together for it could even become a regular thing if people find it useful
  • #29,720
  • Jul 2, 2017 7:57am Jul 2, 2017 7:57am
Quoting johny8984
{quote} Ill have a look into different ways today a few that spring to mind are gotowebinnar skype or on youtube same as mr pip would good to get a few together for it could even become a regular thing if people find it useful
Cool. Please keep me updated. Would be nice to be in company of similar minds trading together. Can be a pretty quiet place when trading alone....
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