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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

  • #33,881
  • Nov 3, 2017 9:11am Nov 3, 2017 9:11am
Quoting crixus
{quote} Damian, when you take a D setup like today, how far back do you place your stop above the D point? DO you use a specific fib extention as guide? And what is your expected profit target ? And when do you go at BE.
10 points above D's tail above the 127 is best but sometimes that is too much risk. BE is the 38.2 Fib of the pattern and TP is the 61.8 I usually extend my profit and let my trail take me out.
If you fail to plan, you plan to fail.
  • #33,882
  • Nov 3, 2017 9:11am Nov 3, 2017 9:11am
Quoting Mr. Pip
Yesterday I posted the next live stream and asked for topics of discussion on things that have been issues. I do these for you to take advantage so please let me know what to discuss. Don't be shy. I will do two of these streams this month. Thursday's is more of a nuts and bolts where I can address your issues but if you don't tell me I can't help you. Provide me with topics that you want me to address anything goes.
Your risk management plz. Esp when to manage a trade aggressively and when to give it room. Thanks.
  • #33,883
  • Nov 3, 2017 9:12am Nov 3, 2017 9:12am
If you charge for the room, could donate the proceeds to a worthy cause. Or pay someone to run the room.
  • #33,884
  • Nov 3, 2017 9:13am Nov 3, 2017 9:13am
Quoting Mr. Pip
We should work on building a real trading room. But the issue with that is that it couldn't be free. And I don't want to charge but people would just come in to copy my trades and make tons of money. That would not be fair either but it sure would be nice to do something like that.
ways around this could be if you were to display a ym chart with chart trader hidden on a spare screen to discuss how the strength is moving or if you were to add a 1 min delay to the video stream then that would make it useless to just copy
  • #33,885
  • Nov 3, 2017 9:14am Nov 3, 2017 9:14am
Quoting arc001
{quote} Your risk management plz. Esp when to manage a trade aggressively and when to give it room. Thanks.
On the list great one!
If you fail to plan, you plan to fail.
  • #33,886
  • Nov 3, 2017 9:14am Nov 3, 2017 9:14am
SL @ BE
Attached Image (click to enlarge)
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"Luck is when opportunity meets preparation"
  • #33,887
  • Nov 3, 2017 9:14am Nov 3, 2017 9:14am
Short term update
Attached Image (click to enlarge)
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If you fail to plan, you plan to fail.
  • #33,888
  • Nov 3, 2017 9:16am Nov 3, 2017 9:16am
How fast things change some times.
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If you fail to plan, you plan to fail.
  • #33,889
  • Nov 3, 2017 9:16am Nov 3, 2017 9:16am
Quoting csternfx
If you charge for the room, could donate the proceeds to a worthy cause. Or pay someone to run the room.
Great idea
If you fail to plan, you plan to fail.
  • #33,890
  • Nov 3, 2017 9:18am Nov 3, 2017 9:18am
Stopped out @ BE.
AB=CD completion
1,27 ext
200% inversion
@61,8% fib, like expected a deeper pullback
Might go a bit deeper, but this was an entry according to the rules, so we will see!
No emotions here. (hopefully)
Attached Image (click to enlarge)
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"Luck is when opportunity meets preparation"
  • #33,891
  • Nov 3, 2017 9:18am Nov 3, 2017 9:18am
Quoting johny8984
{quote} ways around this could be if you were to display a ym chart with chart trader hidden on a spare screen to discuss how the strength is moving or if you were to add a 1 min delay to the video stream then that would make it useless to just copy
Interesting never thought about that. You all are sharp!
If you fail to plan, you plan to fail.
  • #33,892
  • Nov 3, 2017 9:20am Nov 3, 2017 9:20am
Quoting Mr. Pip
How fast things change some times. {image}
True, but I expected this reaction in this area (reason for my long posted before)
  • #33,893
  • Nov 3, 2017 9:24am Nov 3, 2017 9:24am
Quoting evocpr19
{quote} True, but I expected this reaction in this area (reason for my long posted before)
Got stopped out but entered again.
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If you fail to plan, you plan to fail.
  • #33,894
  • Nov 3, 2017 9:29am Nov 3, 2017 9:29am
Let's go bears!!!
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If you fail to plan, you plan to fail.
  • #33,895
  • Nov 3, 2017 9:39am Nov 3, 2017 9:39am
Quoting Mr. Pip
We should work on building a real trading room. But the issue with that is that it couldn't be free. And I don't want to charge but people would just come in to copy my trades and make tons of money. That would not be fair either but it sure would be nice to do something like that.
I really like that idea, maybe the ones that could pay be kind of 'administrator' with a little more rights and like someone said have delayed data, so they can't copy your ideas.
"Luck is when opportunity meets preparation"
  • #33,896
  • Nov 3, 2017 9:40am Nov 3, 2017 9:40am
Long, 4th trade so far.
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"Luck is when opportunity meets preparation"
  • #33,897
  • Nov 3, 2017 9:45am Nov 3, 2017 9:45am
Don't clearly see why you entered a short , afterall the market made a NSH at the start of the session.
Chart Close only basis
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  • #33,898
  • Nov 3, 2017 9:50am Nov 3, 2017 9:50am
Quoting c49
Don't clearly see why you entered a short , afterall the market made a NSH at the start of the session. Chart Close only basis {image}
I mean the first short not the second one.
  • #33,899
  • Nov 3, 2017 9:50am Nov 3, 2017 9:50am
Quoting Mr. Pip
{quote} Interesting never thought about that. You all are sharp!
Hi Damian a trading room sounds like a great idea.
But I don't think asking money to enter a trade room would keep the 'wrong' people away.
Because as you say, they can make tons of money if they just copy your trades.
The profit would probably exceed the cost of admittance for the trading room :-)
Personally I think the only way to attract the people that want to learn and keep the freeloaders out, is to use a chart that displays past data, be it a few minutes or way back in the past.

Also thanks for making a new video next week!
I'm gonna try to put my remaining trading troubles into words and hope you can address them in the video :-)
  • #33,900
  • Nov 3, 2017 9:55am Nov 3, 2017 9:55am
So far I have as topics of discussion for the live stream

1. Order Flow expectation and how to address conflicts between short and longer term. At what point should I be concerned 61.8?

2. How to handle price approaching my area of interests with strength?

3. An in depth review of the ABCD and it's variants. Also aggressive C entries and D entries. What to look for in your case building

4. Trade management and risk control. When should I be aggressive with my trade management and when should I give it more room?

5. What time frame should I be trading? What order flow makes more sense for me to trade and how can I use the shorter term to help me time my entries and manage my trades?
If you fail to plan, you plan to fail.
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