If you fail to plan, you plan to fail.
Ratios & Harmonics: a Different Way to Trade
- #31,261
- Aug 29, 2017 8:03am Aug 29, 2017 8:03am
- | Membership Revoked | Joined Jul 2010 | 9,273 Posts
- #31,266
- Aug 29, 2017 8:17am Aug 29, 2017 8:17am
- | Membership Revoked | Joined Jul 2010 | 9,273 Posts
If you fail to plan, you plan to fail.
- #31,268
- Aug 29, 2017 8:24am Aug 29, 2017 8:24am
- | Membership Revoked | Joined Jul 2010 | 9,273 Posts
If you fail to plan, you plan to fail.
- #31,270
- Aug 29, 2017 8:27am Aug 29, 2017 8:27am
- | Membership Revoked | Joined Jul 2010 | 9,273 Posts
If you fail to plan, you plan to fail.
- #31,273
- Aug 29, 2017 8:54am Aug 29, 2017 8:54am
- | Membership Revoked | Joined Jul 2010 | 9,273 Posts
If you fail to plan, you plan to fail.
- #31,275
- Aug 29, 2017 10:42am Aug 29, 2017 10:42am
- | Membership Revoked | Joined Jul 2010 | 9,273 Posts
Hello Mr Pip, Special thanks for revealing and teaching your methods explicitly and all for free. Great job to everyone else out there who made this thread a great one. One of my great attractions for this thread has been that regular stuff that get talked about are not in this thread. However right now I would really like Mr Pip to help me out answer some of these general questions bothering me from his experience. Seeing that you have a trading time schedule is there a time and period you select for trading because the method will perform better...
Seeing that you have a trading time schedule is there a time and period you select for trading because the method will perform better then?
No, I have a schedule to have balance in my life. I would spend the whole day trading if I didn't and my wife would kill me.
I prefer to trade when the market is most liquid which is prime time. This give me the most opportunities in a short period of time. The method however works on all instrument and all time frames.Your second question is actually the easiest to answer. That is the worst advise I have ever hears. I can tell right away he is not a professional trader. Draw down happens to every trader even me. It is part of the business. I don't like it but it is unavoidable. Running away for those losses for any period of time is counter productive and doesn't help you grow as a professional. Also, the disconnect that occurs between you and trading only makes things worse.
When the losses come in and they will, we have to examine those losses in great detail. If you followed your trade plan and the outcome was bad then don't worry about it. If you broke rules and were undisciplined then fix it. Control those emotions and get back on that horse. We manage draw down not run away from it. That is what money management is for. After that month break you have not damn clue what happened or how to fix it.
Stand and fight! believe in your plan and your skill set. Identify your weaknesses and train to make them your strength. Focus on your session and learn to embrace those losses and you will learn the most from them. Don't run away from your performance instead be accountable and grow from the outcome good or bad. That is the best advice I could give you.
Oh one more piece of advice, don't pollute your mind with crap. Find someone who makes a living trading and do whatever possible to learn from him or her. Do not try to learn from someone who makes his or her living selling books about a subject that they themselves do not live from.
If you fail to plan, you plan to fail.
- #31,278
- Aug 29, 2017 11:50am Aug 29, 2017 11:50am
- | Membership Revoked | Joined Jul 2010 | 9,273 Posts
If you fail to plan, you plan to fail.
- #31,280
- Aug 29, 2017 12:44pm Aug 29, 2017 12:44pm
- Joined Apr 2006 | Status: Metatrader Programmer | 1,422 Posts
Hi Damian,
I did follow on and off your very interesting thread , now I'm trying to read all of posts in this very long thread and watch your videos.
Since I'm a programmer in my daily job I have hard time to full grasp strategy which are not well defined in a mechanical way , i mean your methodology seems very sound and clear but when i try to apply on chart most of the time i'm lost since there's no step rules , it seems to me that there is a lot of discretionality and this of course is hard to replicate.
What I mean is if there's a step by step list that you can write down to be followed in a mechanical way something like :
1) firstly do this
2) then do that
3) finally do this and that
Actually my steps are (correct me please if i'm wrong):
1) identify clear swing high/low to pick NSL (or NSH) so to have an expected direction to trade.
2) Wait for a pullback (up to where 38.2%, 61.8% Fib?)
3) Wait for a rotation candle to enter into expected direction.
Sorry for this long ramblings, hope my doubts make sense for you
Regards,
Giacomo
I did follow on and off your very interesting thread , now I'm trying to read all of posts in this very long thread and watch your videos.
Since I'm a programmer in my daily job I have hard time to full grasp strategy which are not well defined in a mechanical way , i mean your methodology seems very sound and clear but when i try to apply on chart most of the time i'm lost since there's no step rules , it seems to me that there is a lot of discretionality and this of course is hard to replicate.
What I mean is if there's a step by step list that you can write down to be followed in a mechanical way something like :
1) firstly do this
2) then do that
3) finally do this and that
Actually my steps are (correct me please if i'm wrong):
1) identify clear swing high/low to pick NSL (or NSH) so to have an expected direction to trade.
2) Wait for a pullback (up to where 38.2%, 61.8% Fib?)
3) Wait for a rotation candle to enter into expected direction.
Sorry for this long ramblings, hope my doubts make sense for you
Regards,
Giacomo