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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

  • #30,001
  • Jul 6, 2017 11:23am Jul 6, 2017 11:23am
It was messing today, but I am lucky to have Mr. pip here. Finally make a tiny profit.
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  • #30,002
  • Jul 6, 2017 11:23am Jul 6, 2017 11:23am
Quoting PeterT
{quote} See you Mr.Pip thanks for joining, your presence and comments are inspiring
Thanks Peter. Heading out for lunch now with the family you guys have an awesome day!
If you fail to plan, you plan to fail.
  • #30,003
  • Jul 6, 2017 11:32am Jul 6, 2017 11:32am
2 trades today on ym

both trades taken out at B/E plus 3

6 points for the day
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  • #30,004
  • Jul 6, 2017 12:56pm Jul 6, 2017 12:56pm
Hey YM traders. Why are most of you quitting about three hours after the open?
Is it because you pick the time period with the highest trading volume?
Because of time zone difference?
Or just because you choose not to trade longer?
I seem to be the only one monitoring the chart and taking trades from open to close
  • #30,005
  • Jul 6, 2017 1:00pm Jul 6, 2017 1:00pm
I try to watch all day so I can avoid working, but my expertise is much lower at the moment.
  • #30,006
  • Jul 6, 2017 1:10pm Jul 6, 2017 1:10pm
Quoting csternfx
I try to watch all day so I can avoid working, but my expertise is much lower at the moment.
I try to watch and trade whenever I can just to pick up as much experience as I can.
I also really enjoy it. I might keep doing the long hours even if I'm doing it for a living
  • #30,007
  • Jul 6, 2017 1:15pm Jul 6, 2017 1:15pm
Quoting PeterT
Hey YM traders. Why are most of you quitting about three hours after the open? Is it because you pick the time period with the highest trading volume? Because of time zone difference? Or just because you choose not to trade longer? I seem to be the only one monitoring the chart and taking trades from open to close
for me its a time thing us open on ym is 2:30 pm here in the uk so i tend to trade just till 5pm then i like to do something else

the first few hours is enough time to catch a few moves
  • #30,008
  • Jul 6, 2017 1:19pm Jul 6, 2017 1:19pm
not sure if this has any value to anyone but i thought id make a quick video showing how i am managing my stops currently let me know what you think i want the GOOD and the UGLY comments

https://www.youtube.com/watch?v=r0x-bkJlD30
  • #30,009
  • Jul 6, 2017 1:19pm Jul 6, 2017 1:19pm
Summary of the day.
A lot of small trades. A lot of times trading immediate orderflow and exiting when I smell trouble.
I don't know if this way of trading can be profitable in the long run.
I probably should focus more on the larger picture.
Started out not too bad with +1 +24 +7 -3 and 0
Then towards the end of the day I subconsciously decided to get rid of my profits and I succeeded.
-10 and -14 leaving me with +5 pips. Minus costs leaves me at BE for today.

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  • #30,010
  • Jul 6, 2017 1:26pm Jul 6, 2017 1:26pm
Looking for a pullback and a short now maybe
  • #30,011
  • Jul 6, 2017 1:31pm Jul 6, 2017 1:31pm
Quoting csternfx
Looking for a pullback and a short now maybe
PB in the area of 333 would be great but will price get there..
  • #30,012
  • Jul 6, 2017 1:39pm Jul 6, 2017 1:39pm
I assume it being a holiday week makes it more difficult. I did poorly today. Got stuck changing times on the order flow. Seems like I started out on short term and then switched to medium and back to short.
  • #30,013
  • Jul 6, 2017 2:02pm Jul 6, 2017 2:02pm
Quoting johny8984
not sure if this has any value to anyone but i thought id make a quick video showing how i am managing my stops currently let me know what you think i want the GOOD and the UGLY comments https://www.youtube.com/watch?v=r0x-bkJlD30
I was still trying to figure out your drawing from earlier. The video was more clear :-)
I think I also do that sometimes.
But not systematically every time price reaches 78.6% of the move towards structure. More when I see price not being able to reach structure and when I see it head back with strength to my entry point I'd probably move my stop to protect.
Do you always apply this or only when entering at deeper corrections?
  • #30,014
  • Jul 6, 2017 2:27pm Jul 6, 2017 2:27pm
Quoting PeterT
{quote} I was still trying to figure out your drawing from earlier. The video was more clear :-) I think I also do that sometimes. But not systematically every time price reaches 78.6% of the move towards structure. More when I see price not being able to reach structure and when I see it head back with strength to my entry point I'd probably move my stop to protect. Do you always apply this or only when entering at deeper corrections?
for now i am going to apply it to every trade if that changes ill post in the thread

i also have a spreadsheet that i am updating each day that is keeping track of this change so that after 100 trades ill be able to look and definitively say yes this is helping to protect ticks or no this is actually costing me ticks results to follow in a couple of months i guess just thought id make the video to show a bit clearer what my current stop management plan is

think i will also keep track of results if i was to apply my method at the 61.8 level also
  • #30,015
  • Jul 6, 2017 2:40pm Jul 6, 2017 2:40pm
Quoting johny8984
{quote} for now i am going to apply it to every trade if that changes ill post in the thread i also have a spreadsheet that i am updating each day that is keeping track of this change so that after 100 trades ill be able to look and definitively say yes this is helping to protect ticks or no this is actually costing me ticks results to follow in a couple of months i guess just thought id make the video to show a bit clearer what my current stop management plan is think i will also keep track of results if i was to apply my method at the 61.8 level...
Sounds interesting.
It might be worth it to also record at what correction % your entry was.
I can imagine that your SL is less likely to be hit when coming from a deeper entry?
If there's an obvious difference in succes between shallow and deep correction entries you might be able to derive a minimum correction level for entry.
Just my thought.
  • #30,016
  • Jul 6, 2017 2:46pm Jul 6, 2017 2:46pm
Quoting PeterT
{quote} Sounds interesting. It might be worth it to also record at what correction % your entry was. I can imagine that your SL is less likely to be hit when coming from a deeper entry? If there's an obvious difference in succes between shallow and deep correction entries you might be able to derive a minimum correction level for entry. Just my thought.
yeah i think maybe open a couple more new tabs in my spread sheet and keep track of it
  • #30,017
  • Jul 6, 2017 2:54pm Jul 6, 2017 2:54pm
My trade today on NQ
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  • #30,018
  • Jul 6, 2017 3:28pm Jul 6, 2017 3:28pm
Quoting evocpr19
My trade today on NQ {image}
I admire you evocpr19, trading NQ on open with 233T charts is really something. Personally, I don't touch NQ until after launch NY time.
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Always trade your own plan...I don't provide trading signals.
  • #30,019
  • Jul 6, 2017 4:46pm Jul 6, 2017 4:46pm
Quoting x3m-PippiN
{quote} The best idea like someone suggested before is to have a limit for losses for the day. Lets say 2. So you lose 2 times and you stop for the day and do something else than you revisit the day and assess what went wrong and so on. The other thing I used to do was when I have a loss I just get up go to the toilet although it might not be necessary, take a couple of deep breaths on the way back to my PC and move on. Also another thing I try to be aware of is my mental state. If I notice that I'm excited or impatient I take a couple of deep breaths...
Yeah deffo this, I have gone into meltdown like this before when you get on tilt just step away for the rest of the day, never going to go well. Sometimes even if it does i found it was a false sense of security, almost getting lucky with a trade to make up some losses so you think it is a good idea to do it again, then it goes really wrong.

sometimes better to just accept your losses and take a back seat.
  • #30,020
  • Jul 6, 2017 9:47pm Jul 6, 2017 9:47pm
Quoting johny8984
not sure if this has any value to anyone but i thought id make a quick video showing how i am managing my stops currently let me know what you think i want the GOOD and the UGLY comments https://www.youtube.com/watch?v=r0x-bkJlD30
Thank you Johny8984 for the video and sharing your trade management. Your voice recording had a bit of a staccato effect and was wondering if your mic was too far away for optimum results?

This method of trade management looks good for the immediate order flow entry. Will monitor it visually and see if I could incorporate it into my trading plan when I do take this kind of trades. Thanks again!
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