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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

  • #33,341
  • Oct 26, 2017 10:42am Oct 26, 2017 10:42am
Quoting Mr. Pip
Scratch that for now on the sidelines the bears are putting in some work here.
I was on the sidelines for both of your tades. I was a bit surprised to see that power in the bulls on your second trade.

I tried for the first time to trade gold. Went good.
  • #33,342
  • Edited 11:38am Oct 26, 2017 11:03am | Edited 11:38am
Quoting PeterT
USDJPY short Against expectation, but good reason I think. 1:1 harmonic exhaustion into longer term structure, past 138 ext. fib indicating exhaustion of the move. Nice bear candle and I pulled the trigger. If this doesn't work out I promise I will not trade against expectation anymore today {image}
But the expectation hasn't failed yet

Expectation is still a NSH

So grab your 20 pips in the correction.

i see why you took the trade. Risky and you need to know when to get out. So be aggressive when exiting
  • #33,343
  • Oct 26, 2017 11:44am Oct 26, 2017 11:44am
Quoting PeterT
{quote} Ehhm I put the stop at BE. There was also a smaller harmonic completion and the last swing had good impulse, so not sure the correction will get to the 61.8 correction of the large 1:1. I'm protected, TP is at 61.8 of the large 1:1. I have to go home. I'll leave the trade and I will trust that server side OCO works with FXCM Was considering taking profit but I'll let it run and give it a small chance. {image}
I watched the trade for a while before I left and decided to set the TP at the 1:1 completion in the correction.
Didn't want to be greedy and I couldn't monitor the trade so..
+26 pips

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  • #33,344
  • Oct 26, 2017 11:48am Oct 26, 2017 11:48am
Quoting RajD
{quote} But the expectation hasn't failed yet Expectation is still a NSH So grab your 20 pips in the correction. i see why you took the trade. Risky and you need to know when to get out. So be aggressive when exiting
Yes it's against expectation so trading the correction and adjusting targets accordingly.
It's lower probablity but with enough confluence it often/sometimes works and you can have great R:R
  • #33,345
  • Oct 26, 2017 11:51am Oct 26, 2017 11:51am
2 wins 2 losses today, I think I figured out what my problem is.
To be a little more flexible on the fibs instead of saying IT MUST HIT THE 38,2% retracement. Could of saved me some losers and put a little more money in the bank, instead of the 1% that I am up now..
It is more of an art, than direct 'science / maths ' ..
Gosh.. should of realised this a week ago..
But.. another winner in the books, not a huge R;R just a simple 1,85:1 R:R. Heading to the gym now guys, see you all tomorrow!
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"Luck is when opportunity meets preparation"
  • #33,346
  • Oct 26, 2017 12:49pm Oct 26, 2017 12:49pm
[quote=PeterT;10428822]{quote}
Are your comments still valid then? Because I'm not seeing the mistakes, except maybe for the hint I got from the momentum for trade 3, as evocpr19 mentioned.

Peter, I'm not saying you made any mistakes. We all trade according to our rules. I only try to turn your attention to the fact that not always reversal in a golden zone is V-shape. By my observation 3 out of 4 times, we have consolidation in this zone. Now, are you going to be more pissed off because you missed the trade or because you are sitting on the pain train? Personally, I prefer to miss the trade, but it's me. Do I take the trades on one bar reversal? Yes, but this depends on the speed of the market, the time when this occurs and so on.
Peter, after some time in this business you will know for sure that at the end everything that matter is our rules and trading according to them. Yes, you will tweak your rules to perfect them, that's why we call trading journey. Good luck and take this from sell proclaimed character guru, you have everything to succeed in trading, give yourself the time. Besides, you are well ahead of the curve.
Always trade your own plan...I don't provide trading signals.
  • #33,347
  • Oct 26, 2017 1:19pm Oct 26, 2017 1:19pm
Quoting Bary
{quote} I didn't see that bat pattern. Don't know them very well yet. Here's what I had before you posted your chart w/bat pattern. {image}
Hi Bary where can get this indicators
  • #33,348
  • Oct 26, 2017 1:20pm Oct 26, 2017 1:20pm
Quoting Coreg2004
Peter, I'm not saying ...
Thanks Coreg2004, I appreciate it, and I hope you're right!
Trading is a journey indeed, and an exciting one
I am becoming more and more confident in my trades.
But I keep an open mind. I know everything I'm doing could turn out to be a wrong approach.
I change my mind about things continuously. And I learn every day.
That's why I'm always looking for the "mistake".
If there isn't one, then there isn't one.
But I cannot assume that I know it all.
Thanks for your advice!
  • #33,349
  • Oct 26, 2017 11:14pm Oct 26, 2017 11:14pm
Quoting Mr. Pip
Here is an older version of my trade plan. I'm sure you all can use it and adapt it to your needs. {image}
Thank you for this. So important to understand how positive you are when approaching the markets. Psych is so much tougher to grasp than tech.
  • #33,350
  • Oct 27, 2017 12:37am Oct 27, 2017 12:37am
GM Europe,

Price dropping like a rock. Seems depth with momentum is decreasing in the intraday will be looking for correction with a better R:R
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  • #33,351
  • Oct 27, 2017 1:04am Oct 27, 2017 1:04am
https://www.youtube.com/watch?v=hUJQda_ukOw&t=11s
  • #33,352
  • Oct 27, 2017 1:14am Oct 27, 2017 1:14am
Quoting ltupower
GM Europe, Price dropping like a rock. Seems depth with momentum is decreasing in the intraday will be looking for correction with a better R:R {image}
Shorted 1/2 of my regular size. If ABCD harmonic will be fully completed will add another 1/2.
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  • #33,353
  • Oct 27, 2017 1:29am Oct 27, 2017 1:29am
Quoting ltupower
{quote} Shorted 1/2 of my regular size. If ABCD harmonic will be fully completed will add another 1/2. {image}
SL to BE
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  • #33,354
  • Oct 27, 2017 1:47am Oct 27, 2017 1:47am
USDJPY Analysis

Intraday: LH to NSH

- Price will most probably make a NSH before market open
- Small harmonics completed
- Large harmonics completed in the same zone as well

Expectation: With large harmonic completing there as well, I’m expecting a deep retracement in the long term. Expectation intraday is still a NSH, however I feel it might be broken. Took a similar trade 2 days back and realized why expectation was broken. Will wait for what price decides to do

Longterm: NSH

- Large harmonics almost completed
- Going with intraday expectations
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  • #33,355
  • Oct 27, 2017 2:20am Oct 27, 2017 2:20am
I am curious if anyone here knows about Formation Seeker? I am also curious if there is any alternative to starting at Page 785 of the OP or the "Summary" Thread to catch up with all of the material? Or has everyone else moved on or advanced to some other website? I have been reading "The Harmonic Trader" but also been trying to catch up on some basics of chart reading like candlestick patterns, Moving Averages, EMA's, Stochastics and RSI to get some idea of the basics because I feel like I am at a point where I have a gap of understanding. Some insight here would be much appreciated. I have spent days and weeks before on other forum threads in the past, so I just need to make it clear that I am not opposed to pouring through all of the material but I don't want to waste my time trying to catch up on 900+ pages of thread posts if I can somehow skip some of the other daily chat and get to the compilation if it is all in one place. I'm NOT Lazy, just blunt.
  • #33,356
  • Oct 27, 2017 2:28am Oct 27, 2017 2:28am
Quoting ltupower
{quote} SL to BE {image}
nice trade, may I ask why u trade premarket, not to be good or bad, but just interested.
"Luck is when opportunity meets preparation"
  • #33,357
  • Oct 27, 2017 2:31am Oct 27, 2017 2:31am
Stoped out +14. Maybe get in again to finish ABCD
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  • #33,358
  • Oct 27, 2017 2:34am Oct 27, 2017 2:34am
Quoting Sheeep44
{quote} nice trade, may I ask why u trade premarket, not to be good or bad, but just interested.
Well if i get a setup i take it. Maybe it's mistake how i trade but this is how i try now
  • #33,359
  • Oct 27, 2017 2:39am Oct 27, 2017 2:39am
will be looking for something like this now
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  • #33,360
  • Oct 27, 2017 2:59am Oct 27, 2017 2:59am
Short again
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