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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

  • #32,741
  • Oct 18, 2017 10:44am Oct 18, 2017 10:44am
Quoting Timwelch
Long... {image}
Update. Locked in at the 1:1 risk/reward level. Price is having trouble getting past this point, so I'm fine with getting kicked out. I can always get back in!
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Markets can remain irrational longer than you can remain solvent - JMK
  • #32,742
  • Oct 18, 2017 10:49am Oct 18, 2017 10:49am
Quoting Timwelch
{quote} Update. Locked in at the 1:1 risk/reward level. Price is having trouble getting past this point, so I'm fine with getting kicked out. I can always get back in! {image}
Kicked out at 10 points profit. So easy, like taking candy from babies.
Markets can remain irrational longer than you can remain solvent - JMK
  • #32,743
  • Oct 18, 2017 10:49am Oct 18, 2017 10:49am
Quoting Timwelch
{quote} Update. Locked in at the 1:1 risk/reward level. Price is having trouble getting past this point, so I'm fine with getting kicked out. I can always get back in! {image}
that's a good strategy but on the other hand, are you so aggressive with stop when market is against you? and if the answer is not, then why do you have to be like that when market is clearly on your favor???? just my honest regards.
  • #32,744
  • Oct 18, 2017 10:51am Oct 18, 2017 10:51am
Quoting ujku80
for the inexperienced traders my humble analysis of the chart: {image}
Thank you for the insight! I found a reason to not take a trade in my trade plan and am now hurting my expectancy. The trade plan does not address our interpretation of the strength or weakness or room to protect or any other reason to no take a set up. I had an SOS2 signal per my plan but did not take it on the count of RR. That is BS The RR was there what I did not have was room to protect but it is what is is. I have to execute per my trade plan.
Attached Image (click to enlarge)
Click to Enlarge Name: YM 12-17 (233 Tick) 2017_10_18.png Size: 71 KB
If you fail to plan, you plan to fail.
  • #32,745
  • Oct 18, 2017 10:56am Oct 18, 2017 10:56am
Quoting ujku80
{quote} that's a good strategy but on the other hand, are you so aggressive with stop when market is against you? and if the answer is not, then why do you have to be like that when market is clearly on your favor???? just my honest regards.
The short answer is, yes. If i'm on the wrong side of the expectation, or rather the expectation looks to be failing, I will sometimes attempt to add-on to the trade to get a more graceful exit. (I usually only do that when I have reason to believe that my assumption on expectation was wrong, or if I notice a longer-term trend completing harmony in that area, etc.) But i'm mostly on the side of expectation, thanks to Mr. Pip, so a loss is nothing in the grand scheme of things. :-) Happy trading!
Markets can remain irrational longer than you can remain solvent - JMK
  • #32,746
  • Oct 18, 2017 11:04am Oct 18, 2017 11:04am
Quoting Timwelch
{quote} The short answer is, yes. If i'm on the wrong side of the expectation, or rather the expectation looks to be failing, I will sometimes attempt to add-on to the trade to get a more graceful exit. (I usually only do that when I have reason to believe that my assumption on expectation was wrong, or if I notice a longer-term trend completing harmony in that area, etc.) But i'm mostly on the side of expectation, thanks to Mr. Pip, so a loss is nothing in the grand scheme of things. :-) Happy trading!
I see. this is great!
  • #32,747
  • Oct 18, 2017 11:07am Oct 18, 2017 11:07am
DAX - 15 min
Buy
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  • #32,748
  • Oct 18, 2017 11:12am Oct 18, 2017 11:12am
Quoting Mr. Pip
{quote} Thank you for the insight! I found a reason to not take a trade in my trade plan and am now hurting my expectancy. The trade plan does not address our interpretation of the strength or weakness or room to protect or any other reason to no take a set up. I had an SOS2 signal per my plan but did not take it on the count of RR. That is BS The RR was there what I did not have was room to protect but it is what is is. I have to execute per my trade plan. {image}
i see what you mean, but forget about it now. On the other hand, the market should take a break soon. so, let's see what happens. you should get another chance to enter long again.
  • #32,749
  • Oct 18, 2017 11:15am Oct 18, 2017 11:15am
Quoting ujku80
{quote} I see. this is great!
Full transparency! I sometimes still get out of trades too early. ;-) I took another long and it really looked like it was hitting a brick wall and so I got out with $10 loss... and now it's moving toward the expectation higher. So, yeah. Still fighting the emotions and learning. But getting better every day!
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Click to Enlarge Name: Screenshot1.png Size: 67 KB
Markets can remain irrational longer than you can remain solvent - JMK
  • #32,750
  • Oct 18, 2017 11:24am Oct 18, 2017 11:24am
i'm still holding. but i see market is showing weakness.
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Click to Enlarge Name: YM 12-17 (233 Tick) 2017_10_18_trade 1.png Size: 68 KB


edit: locked 25 pips.
  • #32,751
  • Oct 18, 2017 11:31am Oct 18, 2017 11:31am
Quoting ujku80
i'm still holding. but i see market is showing weakness.{image} edit: locked 25 pips.
Great Job. I’ll talk to you guys tomorrow heading out.
If you fail to plan, you plan to fail.
  • #32,752
  • Oct 18, 2017 11:32am Oct 18, 2017 11:32am
Quoting Mr. Pip
{quote} Great Job. I’ll talk to you guys tomorrow heading out.
thx. catch u tomorrow. cheers
  • #32,753
  • Oct 18, 2017 11:32am Oct 18, 2017 11:32am
Quoting Timwelch
{quote} Full transparency! I sometimes still get out of trades too early. ;-) I took another long and it really looked like it was hitting a brick wall and so I got out with $10 loss... and now it's moving toward the expectation higher. So, yeah. Still fighting the emotions and learning. But getting better every day! {image}
Trade your plan Tim. No room for emotions
If you fail to plan, you plan to fail.
  • #32,754
  • Oct 18, 2017 11:37am Oct 18, 2017 11:37am
USDCHF completed the expectation of the NSH. The .618 retraction would coincide with the depth of the earlier correction leg, so thats the area I'm watching for the new HL.
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  • #32,755
  • Oct 18, 2017 11:44am Oct 18, 2017 11:44am
closed at +31 pips. didn't like it so much. if a see a PB to a zone, might enter one more time long.
  • #32,756
  • Oct 18, 2017 12:02pm Oct 18, 2017 12:02pm
Quoting ujku80
for the inexperienced traders my humble analysis of the chart: {image}
Hi UJ, Just wanted to say thank you for this Golden Nugget, really appreciate your input.
  • #32,757
  • Oct 18, 2017 12:07pm Oct 18, 2017 12:07pm
Quoting Pipradar
{quote} Hi UJ, Just wanted to say thank you for this Golden Nugget, really appreciate your input.
thanks and happy trading!
  • #32,758
  • Oct 18, 2017 12:13pm Oct 18, 2017 12:13pm
Quoting Mr. Pip
{quote} Thank you for the insight! I found a reason to not take a trade in my trade plan and am now hurting my expectancy. The trade plan does not address our interpretation of the strength or weakness or room to protect or any other reason to no take a set up. I had an SOS2 signal per my plan but did not take it on the count of RR. That is BS The RR was there what I did not have was room to protect but it is what is is. I have to execute per my trade plan. {image}
Hi Mr Pip and all the wonderful guys here, I am working my way through this awesome thread, have a way to go as yet, just wanted to touch base from the Lurking Corner. L.O.L. Got to say Mr PiP, you are a special guy and I am soooo glad that I have been lucky enough to find myself here, Hats off to you guys this is real.
  • #32,759
  • Oct 18, 2017 12:23pm Oct 18, 2017 12:23pm
Quoting Pipradar
{quote} Hi Mr Pip and all the wonderful guys here, I am working my way through this awesome thread, have a way to go as yet, just wanted to touch base from the Lurking Corner. L.O.L. Got to say Mr PiP, you are a special guy and I am soooo glad that I have been lucky enough to find myself here, Hats off to you guys this is real.
As real as it gets my friend welcome and looking forward to seeing you grow as a trader. This is a unique thread and we all have a common goal and that is to see everyone succeed. That is why everyone is so helpful.
If you fail to plan, you plan to fail.
  • #32,760
  • Oct 18, 2017 12:24pm Oct 18, 2017 12:24pm
Quoting Mr. Pip
{quote} Trade your plan Tim. No room for emotions
You are right! Harmonic 1:1 completion, I could have made a bunch of money today but emotions got in the way. :-)
Attached Image (click to enlarge)
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Markets can remain irrational longer than you can remain solvent - JMK
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