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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

  • #33,201
  • Oct 25, 2017 8:14am Oct 25, 2017 8:14am
Turned into a beautiful trade, but not sure how to exit or if I should.
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  • #33,202
  • Oct 25, 2017 8:21am Oct 25, 2017 8:21am
Short
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  • #33,203
  • Edited 8:45am Oct 25, 2017 8:25am | Edited 8:45am
Quoting RajD
{quote} USDJPY Update 1 - Price completed harmonic Expectation: Will wait for price to come to my AOI for a potential long {image}
USDJPY Update 2

Price nearing AOI
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  • #33,204
  • Oct 25, 2017 8:55am Oct 25, 2017 8:55am
Quoting ltupower
Short {image}
Taken out BE
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  • #33,205
  • Oct 25, 2017 9:08am Oct 25, 2017 9:08am
Quoting RajD
{quote} USDJPY Update 2 Price nearing AOI {image}
Long at 113.965

SL -5 below structure
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  • #33,206
  • Oct 25, 2017 9:10am Oct 25, 2017 9:10am
Quoting RajD
{quote} Long at 113.965 SL -5 below structure {image}
Nice entry. I was in a little early, on the first bounce from golden zone.
But same entry price
  • #33,207
  • Oct 25, 2017 9:16am Oct 25, 2017 9:16am
Quoting PeterT
{quote} Nice entry. I was in a little early, on the first bounce from golden zone. But same entry price
Think we made the bears angry..
  • #33,208
  • Oct 25, 2017 9:21am Oct 25, 2017 9:21am
Fastest loss of the week.
USDJPY long gone bad.
-25 pips

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  • #33,209
  • Oct 25, 2017 9:22am Oct 25, 2017 9:22am
Quoting RajD
{quote} Long at 113.965 SL -5 below structure {image}
USDJPY -15

Expectation failure. Very unusual

Expectation is a NSL now
  • #33,210
  • Oct 25, 2017 10:07am Oct 25, 2017 10:07am
Small swing, Long.
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"Luck is when opportunity meets preparation"
  • #33,211
  • Oct 25, 2017 11:06am Oct 25, 2017 11:06am
OK Traders the live stream is done I hope you all enjoyed it and I will post it after YouTube renders it. This will be some time this afternoon. Please like and subscribe as this helps others find the content.

Comment and post your thoughts as this helps me grow as a mentor as well. Thank you all for the opportunity.
If you fail to plan, you plan to fail.
  • #33,212
  • Oct 25, 2017 1:10pm Oct 25, 2017 1:10pm
I'm also gonna start a video series.
It's called How To Lose a Week's Profit in One Day..

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  • #33,213
  • Oct 25, 2017 1:21pm Oct 25, 2017 1:21pm
My trade on YM today. Nothing fancy. A conservative 1:1.
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  • #33,214
  • Oct 25, 2017 1:26pm Oct 25, 2017 1:26pm
Quoting PeterT
I'm also gonna start a video series. It's called How To Lose a Week's Profit in One Day.. {image}
I laughed way too hard as this, as I thought you were serious about your statement.. But thats awful man.. Do you use the original stop method?
Tomorrow are new changes mate, keep your head up. This is the real psychology test, you will make it if you just make it through this!
"Luck is when opportunity meets preparation"
  • #33,215
  • Oct 25, 2017 1:39pm Oct 25, 2017 1:39pm
Quoting Sheeep44
{quote} I laughed way too hard as this, as I thought you were serious about your statement.. But thats awful man.. Do you use the original stop method? Tomorrow are new changes mate, keep your head up. This is the real psychology test, you will make it if you just make it through this!
Thanks man. I can take losses but now I'm back to my initial deposit and I would not like to take another loss and go negative
Well we'll see. I was hoping I could double the account in three months but this way I'll be happy to still have an account in three months
  • #33,216
  • Oct 25, 2017 1:43pm Oct 25, 2017 1:43pm
Quoting PeterT
I'm also gonna start a video series. It's called How To Lose a Week's Profit in One Day.. {image}
Hi Peter,

I do not understand your motivation of your trades 2 and 3.

(Trade 2: If you look the momentum (yellow lines) increasing , candles size on the second leg increasing, .... I would never enter long right away.)

Trade 3: Same reasoning as trade 2. If a demand zone is approached with steaming price. I prefer to wait to see what happens with that area.

When I see that price is behaving like this (area of trade 4), I would go long on the horizontal line and would take profit on the indicated area (yellow box; do not know if price reached finally this; do not have the chart loaded).

Hope it adds value.

NB: I just saw your entry for trade 2. Forget my comment. On the first leg, we broke structure. Should look for a short.
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  • #33,217
  • Oct 25, 2017 1:46pm Oct 25, 2017 1:46pm
Ok.
USDJPY
Expectation failure in short term.
Expecting NSH in short term after deep retrace.
AOI is at deep correction, good structure.
Short term expectation is in line with the longer term expectation.

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  • #33,218
  • Oct 25, 2017 1:47pm Oct 25, 2017 1:47pm
Quoting PeterT
{quote} Thanks man. I can take losses but now I'm back to my initial deposit and I would not like to take another loss and go negative Well we'll see. I was hoping I could double the account in three months but this way I'll be happy to still have an account in three months
HAHAHA, you just have to act the same way you backtested mate, no emotion, pure based on your trading plan. Somehow everytime I go live, I immediately go into a drawdown, currently -1%. Earlier today I was up 3%, but so it happens. Maybe the next 2 days you will gain 5-10%. Doubling your account in 3 months is really optimistic in my (personal) opinion. It can be done, but you have to be really, really good. That means that you will get a 10k account in 4-5 years to 1 million dollars. If that was possible everyone would do it.
"Luck is when opportunity meets preparation"
  • #33,219
  • Oct 25, 2017 2:29pm Oct 25, 2017 2:29pm
Quoting evocpr19
{quote} Hi Peter, I do not understand your motivation of your trades 2 and 3. {image}
Thanks for your reply evocpr19. I used to look a lot at momentum before entering a trade. But after the last videos of Mr. Pip, I'm allowing more exceptions.

Trade 2 was a long. In line with the expectation of NSH. Entry was in golden zone of the correction. Rotation was ok but not perfect at the time. Very good rotation candle came a little later. Price just rocketed downwards suddenly. Expectation failure and not foreseeable if you ask me. I don't blame myself for this one.

Trade 3 was a long, trading the longer term swing. I was targeting a large ABCD pattern completion the whole morning. I didn't complete but was missed by a few pips. I was still considering it as completed. Expected 61.8% correction of AD leg. Took long after hitting 61.8%. See picture. Maybe I was wrong on this one. My stop was hit by 1 pip and price went up so maybe I was not that wrong..
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Trade 4 I thought I wanted to trade the shorter term OF again, because of limited trading time left today. Expectation was an NSL, took a short from golden zone after nice rotation and good structure to the left. Don't see what's wrong with it.

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  • #33,220
  • Oct 25, 2017 2:37pm Oct 25, 2017 2:37pm
Quoting Sheeep44
{quote} HAHAHA, you just have to act the same way you backtested mate, no emotion, pure based on your trading plan. Somehow everytime I go live, I immediately go into a drawdown, currently -1%. Earlier today I was up 3%, but so it happens. Maybe the next 2 days you will gain 5-10%. Doubling your account in 3 months is really optimistic in my (personal) opinion. It can be done, but you have to be really, really good. That means that you will get a 10k account in 4-5 years to 1 million dollars. If that was possible everyone would do it.
I think I traded according to my rules, had no emotional issues, or not that I am aware of. We'll see what the next week will bring. If I'm down by the same amount next week then something must be wrong.
Maybe doubling in 3 months was unrealistic. For me. For now.
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