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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

  • #33,441
  • Oct 27, 2017 9:51am Oct 27, 2017 9:51am
I had a couple mistakes this week. Went against trade plan. Need to beat the plan into my head. Stop making my own decisions and follow rules.

Still +24 for the week, but should be better. Should be around +49
  • #33,442
  • Oct 27, 2017 9:53am Oct 27, 2017 9:53am
Quoting PeterT
{quote} Thanks Mr. Pip, I am among the ones that needed that little bit of pep talk
Shake it off. it's in the past and leave it there just see if you messed up.

Do not bring last trades baggage good or bad into the next one. Learn from the mistakes and that is it.
If you fail to plan, you plan to fail.
  • #33,443
  • Oct 27, 2017 9:54am Oct 27, 2017 9:54am
Quoting Sheeep44
So my weeks results are shown below,..
Nice Sheeep44! It's going in the right direction!
Here's my graph of account balance of the last two weeks.
Seems like we're finding support at the initial balance level

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 80 KB


EDIT: I'm also not posting this to show off
  • #33,444
  • Oct 27, 2017 9:54am Oct 27, 2017 9:54am
Quoting csternfx
I had a couple mistakes this week. Went against trade plan. Need to beat the plan into my head. Stop making my own decisions and follow rules. Still +24 for the week, but should be better. Should be around +49
OK, clean it up and stay on plan.
If you fail to plan, you plan to fail.
  • #33,445
  • Oct 27, 2017 9:57am Oct 27, 2017 9:57am
Quoting Mr. Pip
{quote} Shake it off. it's in the past and leave it there just see if you messed up. Do not bring last trades baggage good or bad into the next one. Learn from the mistakes and that is it.
I will thanks
  • #33,446
  • Oct 27, 2017 10:01am Oct 27, 2017 10:01am
Quoting Mr. Pip
{quote} What are you looking at?
I am looking for longs which is good as the bears are showing weakness but I do not have much structure to work on. The best place I can find is between the 61.8 to the 78.6 but it could also be a continuation of the longer term order flow to the downside.

I will just sit this one out as I know I have better probability trades if not today, then next week.
Attached Image (click to enlarge)
Click to Enlarge Name: YM 12-17 (233 Tick) 2017_10_27 10.55pm.png Size: 84 KB
  • #33,447
  • Oct 27, 2017 10:02am Oct 27, 2017 10:02am
Quoting PeterT
{quote} Nice Sheeep44! It's going in the right direction! Here's my graph of account balance of the last two weeks. Seems like we're finding support at the initial balance level {image} EDIT: I'm also not posting this to show off
Seems pretty normal to me, actually really good!
I bet you do this for showoff.
No but seriously, 3 losing trades isn't really that bad, wait till I show you mine.
I made 18 trades, 11 losers ( which 4 could of been prevented )
6 winners and 1 BE, and still made 4,5%. So money management really is the key. At the end of the week I focussed more on the Immediate OF, instead of the really clear swing, allowing more space to identify swings, like MR pip mentioned in his livestream and after that I took like 2-4 winning trades. So like I said we are all still learning. You seem like you are on track, just keep at it and dont quite!
"Luck is when opportunity meets preparation"
  • #33,448
  • Oct 27, 2017 10:04am Oct 27, 2017 10:04am
Quoting PeterT
{quote} Nice Sheeep44! It's going in the right direction! Here's my graph of account balance of the last two weeks. Seems like we're finding support at the initial balance level {image} EDIT: I'm also not posting this to show off
You know where to take longs right, at clear support levels
"Luck is when opportunity meets preparation"
  • #33,449
  • Oct 27, 2017 10:09am Oct 27, 2017 10:09am
AOI
Attached Image (click to enlarge)
Click to Enlarge Name: YM 12-17 (233 Tick) 2017_10_27.png Size: 42 KB
"Luck is when opportunity meets preparation"
  • #33,450
  • Oct 27, 2017 10:10am Oct 27, 2017 10:10am
Quoting PeterT
{quote} Nice Sheeep44! It's going in the right direction! Here's my graph of account balance of the last two weeks. Seems like we're finding support at the initial balance level {image} EDIT: I'm also not posting this to show off
Now you will at least retest the highs (last base touch was light; now sharp up)
  • #33,451
  • Oct 27, 2017 10:11am Oct 27, 2017 10:11am
Quoting evocpr19
{quote} Now you will at least retest the highs (last base touch was light; now sharp up)
I hope it isn't an expectation failure!
"Luck is when opportunity meets preparation"
  • #33,452
  • Oct 27, 2017 10:18am Oct 27, 2017 10:18am
Hi Damien. Just curious if you maintain a journal where you track every trade. And if so, how does the overall structure look like (i am not asking for your journal, just want to get an idea of how to track trades using your system - for example, your PnL would probably be better calculated using pips and not R since you trade the same size). Thanks.
  • #33,453
  • Oct 27, 2017 10:40am Oct 27, 2017 10:40am
Quoting Sheeep44
{quote} You know where to take longs right, at clear support levels
Quoting evocpr19
{quote} Now you will at least retest the highs (last base touch was light; now sharp up)
Quoting Sheeep44
{quote} I hope it isn't an expectation failure!
  • #33,454
  • Oct 27, 2017 10:42am Oct 27, 2017 10:42am
Quoting arc001
Hi Damien. Just curious if you maintain a journal where you track every trade. And if so, how does the overall structure look like (i am not asking for your journal, just want to get an idea of how to track trades using your system - for example, your PnL would probably be better calculated using pips and not R since you trade the same size). Thanks.
I don't keep a journal because what value does it really serve? Unless you attach the a screen shot of the chart with the notes it's really serves no real value because when you do go back you have no memory of those trades and if you messed up or not. I focus on the decision making and the discipline. I focus on reviewing my session and see if my plan was followed. I focus on staying above 70% strike rate which as long as I follow the expectation should remain constant and lastly I focus on having a daily positive average. This is the key to success. What is a daily positive average? I'm glad you asked.

There are roughly 20 trading days in a month. Let's say that for this month there are 22 days. If you take days off they must be counted anyway. At the end of the month you made 318 points or pips. Your daily average is 14.45 +. If you made 75 points 3.4+ was you daily average. Anything less then 22 and you did not have a positive daily average.

You need to have a positive daily average month after month. If you can do that consistently you will be able to make all the money you want. The next step is to be properly funded and you will determine your income by your position sizing.
If you fail to plan, you plan to fail.
  • #33,455
  • Oct 27, 2017 10:58am Oct 27, 2017 10:58am
Short question to all. In US do you change the time to winter times on coming Sunday (1hour back)?
  • #33,456
  • Oct 27, 2017 11:00am Oct 27, 2017 11:00am
Quoting evocpr19
Short question to all. In US do you change the time to winter times on coming Sunday (1hour back)?
Yes
If you fail to plan, you plan to fail.
  • #33,457
  • Oct 27, 2017 11:00am Oct 27, 2017 11:00am
Quoting Mr. Pip
{quote} Yes
Thank you
  • #33,458
  • Oct 27, 2017 11:08am Oct 27, 2017 11:08am
OK Traders I'm done for the week. I said I would be completely transparent this month and show you my performance so here is how we are so far in 19 days of trading.

$113,645 /150 per point = 758 points

758 points / 19 days so far = 39.89+ daily average points.

I also did not trade every day but they must still be counted.
Attached Image (click to enlarge)
Click to Enlarge Name: Image1.png Size: 21 KB
If you fail to plan, you plan to fail.
  • #33,459
  • Oct 27, 2017 11:14am Oct 27, 2017 11:14am
Quoting Mr. Pip
OK Traders I'm done for the week. I said I would be completely transparent this month and show you my performance so here is how we are so far in 19 days of trading. $113,645 /150 per point = 758 points 758 points / 19 days so far = 39.89+ daily average points. I also did not trade every day but they must still be counted. {image}
Congrats
  • #33,460
  • Oct 27, 2017 11:45am Oct 27, 2017 11:45am
Quoting Mr. Pip
OK Traders I'm done for the week. I said I would be completely transparent this month and show you my performance so here is how we are so far in 19 days of trading. $113,645 /150 per point = 758 points 758 points / 19 days so far = 39.89+ daily average points. I also did not trade every day but they must still be counted. {image}
I could live off that.
Thanks for the inspiration!
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