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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

  • #33,681
  • Oct 31, 2017 1:13pm Oct 31, 2017 1:13pm
Quoting Mr. Pip
Great trading everyone!
Mr pip, how did you transfer from working fulltime into daytrading, did you just saved enough money and started, with enough experience ofcourse? Or did you started on a higher TimeFrame and worked your way down? Really struggeling right now, since I don’t have enough time on my hands.. would really appreciate your view on this. Maybe some other people are struggling with this aswel?
"Luck is when opportunity meets preparation"
  • #33,682
  • Oct 31, 2017 1:15pm Oct 31, 2017 1:15pm
Daaaaaammmmmnnnn
Stop hit by 0.2 pips. You gotta be kidding me
Third BE for the day.

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  • #33,683
  • Oct 31, 2017 1:18pm Oct 31, 2017 1:18pm
Quoting Sheeep44
{quote} Mr pip, how did you transfer from working fulltime into daytrading, did you just saved enough money and started, with enough experience ofcourse? Or did you started on a higher TimeFrame and worked your way down? Really struggeling right now, since I don’t have enough time on my hands.. would really appreciate your view on this. Maybe some other people are struggling with this aswel?
I am also struggling with this. I live on the east coast and am considering going to sleep early and waking up at 3am to trade london open until I have to leave for work around 7am.

Mr. Pip, I am currently going through your thread and youtube videos and you have me more inspired than ever. Thank you so much for all that you do.
Process over outcome.
  • #33,684
  • Oct 31, 2017 1:34pm Oct 31, 2017 1:34pm
Quoting Sheeep44
{quote} Mr pip, how did you transfer from working fulltime into daytrading, did you just saved enough money and started, with enough experience ofcourse? Or did you started on a higher TimeFrame and worked your way down? Really struggeling right now, since I don’t have enough time on my hands.. would really appreciate your view on this. Maybe some other people are struggling with this aswel?
Hello Sheeep44, since November 2016 I asked my boss if it's possible to work only 2 days instead of 5 because I made more money with trading then working for him. ( I trade options for 3 years now and the plan was to go fulltime with the optiontrading but then I discovered this thread and now I have 2 ways to make money with trading. Of course I didn't told him that excactly so but he took it and the next step for me is stop completely and thanks to this wonderfull thread and in special Damian, it's gonna happen very soon.
  • #33,685
  • Oct 31, 2017 1:38pm Oct 31, 2017 1:38pm
Wow r

Quoting Nikster
{quote} Hello Sheeep44, since November 2016 I asked my boss if it's possible to work only 2 days instead of 5 because I made more money with trading then working for him. ( I trade options for 3 years now and the plan was to go fulltime with the optiontrading but then I discovered this thread and now I have 2 ways to make money with trading. Of course I didn't told him that excactly so but he took it and the next step for me is stop completely and thanks to this wonderfull thread and in special Damian, it's gonna happen very soon.
Wow really happy for you man. Bit sceptic myself about options, but teally great. The point is, I am currentlt still in University and don’t have any set schedule, one week ik have 20+ hours class and the next is full time projects and helping start ups building their business and the. There are the exams.. so kina wondering.
Planning on trading the short term OF, around 1 entry and just set alarms on tradingview to nt have to watch the charts all day, would love to though.. haha but it is kinda struggles.. but really great man, really really happy for you mate, keep going and green pips to you mate!
"Luck is when opportunity meets preparation"
  • #33,686
  • Oct 31, 2017 1:42pm Oct 31, 2017 1:42pm
Quoting Sheeep44
{quote} Mr pip, how did you transfer from working fulltime into daytrading, did you just saved enough money and started, with enough experience ofcourse? Or did you started on a higher TimeFrame and worked your way down? Really struggeling right now, since I don’t have enough time on my hands.. would really appreciate your view on this. Maybe some other people are struggling with this aswel?
I have a daytime job, during the most interesting trading hours. Luckily I can monitor trades at work, but it's hard to concentrate on both.
In the evening there is less opportunity for good trades but I can use the time to watch videos of Mr. Pip or Playback trade.
I'm also considering what Nikster says. As soon as I'm consistently profitable and have built a decent account, I'm gonna start working one day less so I can use it for trading. And work my way from there. Don't see any other option.
  • #33,687
  • Oct 31, 2017 1:54pm Oct 31, 2017 1:54pm
Quoting Sheeep44
Wow r {quote} Wow really happy for you man. Bit sceptic myself about options, but teally great. The point is, I am currentlt still in University and don’t have any set schedule, one week ik have 20+ hours class and the next is full time projects and helping start ups building their business and the. There are the exams.. so kina wondering. Planning on trading the short term OF, around 1 entry and just set alarms on tradingview to nt have to watch the charts all day, would love to though.. haha but it is kinda struggles.. but really great man, really...
Thank you man, Damian mentioned it also a while ago that if you are serious about trading that you must reserve time to trade in your schedule as long as you don't get in trouble with yout study/job of course. Perhaps you should trade the longer OF with alerts so you don't have to monitor price continious. My job was truckdriver and sometimes I took my laptop with me and park the truck to place some orders and then continue my work, it was crazyness and then I made the decision to work less to trade more. You will get there, your trades look good I think and you will get there for sure!
  • #33,688
  • Oct 31, 2017 2:06pm Oct 31, 2017 2:06pm
Quoting PeterT
{quote} I have a daytime job, during the most interesting trading hours. Luckily I can monitor trades at work, but it's hard to concentrate on both. In the evening there is less opportunity for good trades but I can use the time to watch videos of Mr. Pip or Playback trade. I'm also considering what Nikster says. As soon as I'm consistently profitable and have built a decent account, I'm gonna start working one day less so I can use it for trading. And work my way from there. Don't see any other option.
You've got a good point there Peter, Build up enough in your account so that you have reserves for the bad times (months). When I want to backtest with NT I found that Marketreplay gave some errors in my results. I picked a date and then I started Marketreplay but when you set the speed to fast I misted a lot of times a good entry or couldn't keep up with my stop trailing but when I set the speed times 1 or times10 or something in that area, it took houres to test a week of data. So I use the arrowbuttons to go forward bar by bar and then I draw a smal horizontal line for entry and one for stoploss like Damian did in his videos and no cheating of course lol

ps. Why can't I use emoticons?
  • #33,689
  • Oct 31, 2017 2:07pm Oct 31, 2017 2:07pm
Quoting Nikster
{quote} Thank you man, Damian mentioned it also a while ago that if you are serious about trading that you must reserve time to trade in your schedule as long as you don't get in trouble with yout study/job of course. Perhaps you should trade the longer OF with alerts so you don't have to monitor price continious. MMy job was truckdriver and sometimes I took my laptop with me and park the truck to place some orders and then continue my work, it was crazyness and then I made the decision to work less to trade more. You will get there, your trades...
May I ask, did you still daytrade during your trucking season, and if so, did you also trade the longer OF. I know I can trade the immediate OF when I have the time. Just planning, just liek you said, focus on EU and take 2/5 trades a week, with alarms. I do have access to the internet all day but University is getting more time consuming than I would love to, trying to
schedule as mouch time as possivble to trade, but isn’t always easy.. especially for the emotions haha. But thanks for the encouragement mate!
"Luck is when opportunity meets preparation"
  • #33,690
  • Oct 31, 2017 2:09pm Oct 31, 2017 2:09pm
My 2nd trade on YM: Got a bit impatient and closed manually. My planned target was 23339. Left points on the table.
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  • #33,691
  • Oct 31, 2017 2:09pm Oct 31, 2017 2:09pm
Quoting Sheeep44
{quote} Mr pip, how did you transfer from working fulltime into daytrading, did you just saved enough money and started, with enough experience ofcourse? Or did you started on a higher TimeFrame and worked your way down? Really struggeling right now, since I don’t have enough time on my hands.. would really appreciate your view on this. Maybe some other people are struggling with this aswel?
It was a slow process for me. It was hit and miss for some time but I saved enough money to live of for 6 months in case trading ran into problems. Once I saw that I maintain a positive daily average which at that time it was 8 points for three months I then decided it was time to do this full time.

I traded FOREX 1hr TF and very quickly became bored watching the 1HR so I bounced around the time frames falling in love with the 5 min. Later on I cam across tick chart and the love got stronger been doing it ever since. Don't stress life. Find some screen time and work on consistence the rest will sort itself out before you know it.
If you fail to plan, you plan to fail.
  • #33,692
  • Oct 31, 2017 2:09pm Oct 31, 2017 2:09pm
Quoting Nikster
{quote} You've got a good point there Peter, Build up enough in your account so that you have reserves for the bad times (months). When I want to backtest with NT I found that Marketreplay gave some errors in my haresults. I picked a date and then I started Marketreplay but when you set the speed to fast I misted a lot of times a good entry or couldn't keep up with my stop trailing but when I set the speed times 1 or times10 or something in that area, it took houres to test a week of data. So I use the arrowbuttons to go forward bar by bar and then...
I backtest the exact same way, using it like it is real time, going bar by bar to keep it as real as possible, takes a long time, but THE best way to backtest in my opinion
"Luck is when opportunity meets preparation"
  • #33,693
  • Oct 31, 2017 2:10pm Oct 31, 2017 2:10pm
The idea of taking 1 day off a week to trade seems like a potential issue. For one, no way to guarantee the market gives you anything to work with that day. Which leads to forcing trades because its your only day to trade freely. Happens to me when I get random week days off work. I've done this because I want to make the most of it. Now with options trading, you have a lot more instruments at your disposal to find a trade. I could see that working, especially with more than 1 day off.

I think for those of us that work, we just have to keep grinding away at it trying to build positive expectancy and position size. Even if i could average 100 points a month on YM, and afford 30 contract trades, I couldn't do it right now. I need to work up to that. When Mr. Pip takes a $16,000 loss, I imagine doing that. Its not in my realm of acceptance yet. I about vomit lol. I need to work into those sizes and dollars being comfortable.

So my plan is to trade the hours of 8:30 to 11 AM, in my time zone. YM opens at 8:30 CST. I work from 7 to 4. I try my best during those hours and if work demands it, I have to miss trading. As I progress, i will either dump more funding in or work my way up from a small account. I'm hoping 2 years is enough to prove successful. One year to learn and the second to prove it. Hopefully 2 to 5 years before I retire.
  • #33,694
  • Oct 31, 2017 2:15pm Oct 31, 2017 2:15pm
Quoting Sheeep44
{quote} RajD, doyou only trade during the LO or also during the NYO?
I trade the London and first 4 hours of NY
  • #33,695
  • Oct 31, 2017 2:20pm Oct 31, 2017 2:20pm
Quoting Sheeep44
{quote} May I ask, did you still daytrade during your trucking season, and if so, did you also trade the longer OF. I know I can trade the immediate OF when I have the time. Just planning, just liek you said, focus on EU and take 2/5 trades a week, with alarms. I do have access to the internet all day but University is getting more time consuming than I would love to, trying to schedule as mouch time as possivble to trade, but isn’t always easy.. especially for the emotions haha. But thanks for the encouragement mate!
I still work on monday and tuesday on the truck but I start early and I am home around 3:00pm so I have still plenty of time to adjust my positions and I can monito on my phone the market of course. It is not really daytrading more positontrading since I place setups for 14 days to expire and then I flat and put a new setup on. In this slow market I make only 1 or 2 trades to adjust during those 14 days.

2/5 trades a week sounds like a plan and when you have more time you can always trade more. Good luck and green pips to you man!
  • #33,696
  • Oct 31, 2017 2:30pm Oct 31, 2017 2:30pm
Quoting Nikster
{quote} You've got a good point there Peter, Build up enough in your account so that you have reserves for the bad times (months). When I want to backtest with NT I found that Marketreplay gave some errors in my results. I picked a date and then I started Marketreplay but when you set the speed to fast I misted a lot of times a good entry or couldn't keep up with my stop trailing but when I set the speed times 1 or times10 or something in that area, it took houres to test a week of data. So I use the arrowbuttons to go forward bar by bar and then...
Yeah having same problems with the Marketreplay. But I can practice reading strength and weakness and try to predict what price is goign to do. Doesn't matter if I miss the entry. I sometimes use the arrowbutton method but the disadvantage is that it's more difficult to hide the future candles.
Best is live trading, but preferably in the peak hours. Unfortunately I have to work then..
I also have that emoticon problem. Sometimes it works, sometimes it doesn't. Don't know why.
  • #33,697
  • Oct 31, 2017 2:31pm Oct 31, 2017 2:31pm
Quoting csternfx
The idea of taking 1 day off a week to trade seems like a potential issue. For one, no way to guarantee the market gives you anything to work with that day. Which leads to forcing trades because its your only day to trade freely. Happens to me when I get random week days off work. I've done this because I want to make the most of it. Now with options trading, you have a lot more instruments at your disposal to find a trade. I could see that working, especially with more than 1 day off. I think for those of us that work, we just have to keep grinding...
Until november 2016 the volatility was good to trade and after november the volatility went down and my results were down also from that moment and that was the exact moment I decide to work less. I'm stil profitable each month but before novemebr I made 4 times more then I do now and back then I didn't need the money from my trading to pay the bills so it can be very challenging sometimes. That's the reason why you must keep extra money when results are poor
  • #33,698
  • Oct 31, 2017 2:41pm Oct 31, 2017 2:41pm
Quoting Nikster
{quote} I still work on monday and tuesday on the truck but I start early and I am home around 3:00pm so I have still plenty of time to adjust my positions and I can monito on my phone the market of course. It is not really daytrading more positontrading since I place setups for 14 days to expire and then I flat and put a new setup on. In this slow market I make only 1 or 2 trades to adjust during those 14 days. 2/5 trades a week sounds like a plan and when you have more time you can always trade more. Good luck and green pips to you man!
Nikster, can I send you a pm?
"Luck is when opportunity meets preparation"
  • #33,699
  • Oct 31, 2017 2:42pm Oct 31, 2017 2:42pm
Quoting Nikster
{quote} Until november 2016 the volatility was good to trade and after november the volatility went down and my results were down also from that moment and that was the exact moment I decide to work less. I'm stil profitable each month but before novemebr I made 4 times more then I do now and back then I didn't need the money from my trading to pay the bills so it can be very challenging sometimes. That's the reason why you must keep extra money when results are poor
Zie dat je uit Nederland komt, heb je toevallig skype?
"Luck is when opportunity meets preparation"
  • #33,700
  • Oct 31, 2017 2:43pm Oct 31, 2017 2:43pm
USDJPY
Will this be my 4th BE for the day or my champion
Protected at BE when reaching 38.2% level

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