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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

  • #33,281
  • Oct 26, 2017 6:21am Oct 26, 2017 6:21am
Quoting PeterT
{quote} BE+3 1:1 harmonic is beyond 127-138 ext. zone and in long term structure zone. Will trail candles from 127. {image}
Stop was hit +3 pips
  • #33,282
  • Oct 26, 2017 6:21am Oct 26, 2017 6:21am
Quoting Mr. Pip
{quote} Significant Harmonic exhaustion area. Multiple 1:1. I entered a bit late but the R/R was there. I was not at the PC earlier to get the better entry. {image}
Thank you.

A bit risky at that time to go short for my taste, but you have good eyes.
  • #33,283
  • Oct 26, 2017 6:22am Oct 26, 2017 6:22am
GM Traders,

Thank you for the kind words and the appreciation for the Trade Plan. I hope not to see it some day online somewhere. That is an older version like stated but nothing has changed really some minor points on the trailing but the core concepts and rules are the same. It can be easily adapted to your rules and at the very least it provides a visual reference of what a trade plan looks like.

They are very personal and there is no right or wrong way to write one, what it must have or not but that is mine and it fits me. I hope you all write yours and make it details and uplifting as well because you will be consulting it when things are not going right and those positive comments will lift you up.
If you fail to plan, you plan to fail.
  • #33,284
  • Oct 26, 2017 6:26am Oct 26, 2017 6:26am
Expectation is still a NSH.
If we consider the more clear swing, the expectation failure just happened with the last high.
So in that case expecting a deeper correction, followed by a move up.
I'll wait and see if we can get a 1:1 harmonic to the downside and then look for a long.

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  • #33,285
  • Oct 26, 2017 6:27am Oct 26, 2017 6:27am
Quoting PeterT
{quote} A recent experience I had taught me to not immediately trade against such a move
Dear Peter:my experience tell me
1.Don't enter every possible trade .
2. Select only those with very high probability.
3. This means ,only those that has retested a very strong areas of supply and demand, with characteristic of good rotation (decision) candle,and with a very good R:R,
and then having all the qualifications that we learned from Damian.
4.Never put more than 2% of your equity in risk, select lot size accordingly.(If you are still using MT4 platform, i have written a very good Lot manager indicator that show how many lots you may select ,according to your equity currency and your intended Stop Loss).
I wish you being green in all aspects of life, and trades then.
  • #33,286
  • Oct 26, 2017 6:27am Oct 26, 2017 6:27am
Quoting evocpr19
{quote} Thank you. A bit risky at that time to go short for my taste, but you have good eyes.
I saw the risk the the RR was amazing I started with 30 contracts and then added when I felt better about the correction since I entered late. I was able to average in a better price since it did move against me a little bit. It was a great trade but definitely considered passing because I was coming in so late and the strength of the market. Could have been a home run and left tons of money on the table but I was very pleased with the 30K I had in profit.
If you fail to plan, you plan to fail.
  • #33,287
  • Oct 26, 2017 6:31am Oct 26, 2017 6:31am
Let's see what we can take from the market today? Game time!
If you fail to plan, you plan to fail.
  • #33,288
  • Oct 26, 2017 6:33am Oct 26, 2017 6:33am
Quoting ltupower
{quote} I accept it as a intraday moves (correction of the short term) the swing i trade was that from break point to NSH. Or that's wrong what i say?
The swing you are looking at is a clear swing.

but you need to look at your left and see where price broke structure first to NSH. In your chart there are 3 NSH

After that it broke structure and made a NSL around 9-9:30 GMT. since then it has been a NSL and finally the news pushed it lower

dont ignore the intraday movements. That is where you are gonna make money

Trade the expectation. Price went to the 61.8 Fib and then the news hit and made a new NSL
  • #33,289
  • Oct 26, 2017 6:40am Oct 26, 2017 6:40am
Quoting parviz1953
{quote} Dear Peter:my experience tell me 1.Don't enter every possible trade . 2. Select only those with very high probability. 3. This means ,only those that has retested a very strong areas of supply and demand, with characteristic of good rotation (decision) candle,and with a very good R:R, and then having all the qualifications that we learned from Damian. 4.Never put more than 2% of your equity in risk, select lot size accordingly.(If you are still using MT4 platform, i have written a very good Lot manager indicator that show how many lots you...
Hey parviz1953.
Point 2 is something that I am trying not to do anymore, selecting the trades I think are high probability, since Mr. Pip's last two or three videos. If I understand him correctly, you shouldn't try to pick the trades that you think are high probablility. You just take them if they fit the conditions in your trade plan (I think that is your point 3). How would you determine if a trade is high probability? It could be the one you consider high probability that could be the failing trade. And the other trades you leave on the table because they look low probability to you, might be the big winners.

Green pips to you too!
  • #33,290
  • Oct 26, 2017 6:46am Oct 26, 2017 6:46am
Quoting PeterT
{quote} Hey parviz1953. Point 2 is something that I am trying not to do anymore, selecting the trades I think are high probability, since Mr. Pip's last two or three videos. If I understand him correctly, you shouldn't try to pick the trades that you think are high probablility. You just take them if they fit the conditions in your trade plan (I think that is your point 3). How would you determine if a trade is high probability? It could be the one you consider high probability that could be the failing trade. And the other trades you leave on the...
100%
If you fail to plan, you plan to fail.
  • #33,291
  • Oct 26, 2017 6:47am Oct 26, 2017 6:47am
Quoting RajD
{quote} The swing you are looking at is a clear swing. but you need to look at your left and see where price broke structure first to NSH. In your chart there are 3 NSH After that it broke structure and made a NSL around 9-9:30 GMT. since then it has been a NSL and finally the news pushed it lower dont ignore the intraday movements. That is where you are gonna make money Trade the expectation. Price went to the 61.8 Fib and then the news hit and made a new NSL
I don't ignore them it just i saw ABCD completion to the down side and my clear swing expectation was NSH. Thought i was a great spot.
And when price drop to almost 100% correction (and 4th intraday harmonic completion) i saw good resistance structure below with round numbers (1.1800) get rotation candle so decided to added 20% more to my position for long.

Looked reasonable for me
  • #33,292
  • Oct 26, 2017 6:49am Oct 26, 2017 6:49am
Quoting Mr. Pip
{quote} 100%
Thanks for confirming!
  • #33,293
  • Oct 26, 2017 6:51am Oct 26, 2017 6:51am
Quoting PeterT
{quote} Hey parviz1953. Point 2 is something that I am trying not to do anymore, selecting the trades I think are high probability, since Mr. Pip's last two or three videos. If I understand him correctly, you shouldn't try to pick the trades that you think are high probablility. You just take them if they fit the conditions in your trade plan (I think that is your point 3). How would you determine if a trade is high probability? It could be the one you consider high probability that could be the failing trade. And the other trades you leave on the...
By high probability ,i meant what i have written in the 3rd paragraph , and it is part of my trade plan....!!
Indeed what i mean is that, when we are talking about SOS, i put higher stress on strong supply and resistance ,and then on R:R and then the other criteria...
  • #33,294
  • Oct 26, 2017 6:52am Oct 26, 2017 6:52am
Looking for a better price. There is decent structure around here just above price.
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If you fail to plan, you plan to fail.
  • #33,295
  • Oct 26, 2017 6:55am Oct 26, 2017 6:55am
Quoting Mr. Pip
Looking for a better price. There is decent structure around here just above price. {image}
expecting a deeper pullback bulls where weaker on the 2nd leg up
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  • #33,296
  • Oct 26, 2017 6:55am Oct 26, 2017 6:55am
Quoting ltupower
{quote} I don't ignore them it just i saw ABCD completion to the down side and my clear swing expectation was NSH. Thought i was a great spot. And when price drop to almost 100% correction (and 4th intraday harmonic completion) i saw good resistance structure below with round numbers (1.1800) get rotation candle so decided to added 20% more to my position for long. Looked reasonable for me

If you don't mind me joining the discussion, I also approach it the way Itupower did.
Of course, the short term expectation was NSL, but was it reasonable enough, given the fact that the longer term OF was looking for a NSH and had already corrected deep to 88.6%.
That is a deep correction, but could be expected becasue of the longer term resistance area that we hit.
So I think I would also go long, with good R:R and in line with the longer term.
And if you wanted to trade the short term, it would probably be wise to sit on hands.
Just my cents :-)
  • #33,297
  • Oct 26, 2017 6:58am Oct 26, 2017 6:58am
Quoting civo
{quote} expecting a deeper pullback bulls where weaker on the 2nd leg up {image}
Yes I'm looking for 80-85 area as well better RR and more room to that structure. Let's hope we get it. The bears should be able to test that.
If you fail to plan, you plan to fail.
  • #33,298
  • Oct 26, 2017 7:00am Oct 26, 2017 7:00am
Quoting civo
{quote} expecting a deeper pullback bulls where weaker on the 2nd leg up {image}

I'm right there with you. Long term is still a NSH.
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Markets can remain irrational longer than you can remain solvent - JMK
  • #33,299
  • Oct 26, 2017 7:01am Oct 26, 2017 7:01am
short.
trading IF now..
Short term OF was just way too big for my liking..
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"Luck is when opportunity meets preparation"
  • #33,300
  • Oct 26, 2017 7:07am Oct 26, 2017 7:07am
Long
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If you fail to plan, you plan to fail.
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