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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

  • #34,221
  • Nov 15, 2017 6:32am Nov 15, 2017 6:32am
Just took a small 1:1 on YM (+16).
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  • #34,222
  • Nov 15, 2017 6:49am Nov 15, 2017 6:49am
Took only 1 trade on the minidax today. I hesitated to enter at the yellow arrow, even though I had a 1:1 harmonic completion in the correction and it would have worked out pretty well. At least I am happy I read it well. Tomorrow new chances
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  • #34,223
  • Nov 15, 2017 6:54am Nov 15, 2017 6:54am
Quoting Nikster
Took only 1 trade on the minidax today. I hesitated to enter at the yellow arrow, even though I had a 1:1 harmonic completion in the correction and it would have worked out pretty well. At least I am happy I read it well. Tomorrow new chances{image}
Hey Nik, thats pretty much the same as my read Nice to know I'm not alone.
  • #34,224
  • Nov 15, 2017 7:17am Nov 15, 2017 7:17am
Quoting pradlal
{quote} Hey Nik, thats pretty much the same as my read Nice to know I'm not alone.
That's nice indeed! The correction after that swing around the 12910 I found the risk/reward not great so I let that one go. Also on a larger timeframe there was a 1:1 completion so that also was a reason to not take any shorts here and wait for how price would react to that. I draw on another chart the larger swings so I can look where there should be confluence area's with fib ratio's where price could react to.
  • #34,225
  • Nov 15, 2017 8:26am Nov 15, 2017 8:26am
my 2 trades in euro today.
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Always trade your own plan...I don't provide trading signals.
  • #34,226
  • Nov 15, 2017 9:47am Nov 15, 2017 9:47am
My remaining trades on YM: (Second in the pic was negative, got take out)
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  • #34,227
  • Nov 15, 2017 10:00am Nov 15, 2017 10:00am
Short Gold. Harmonic confluence + resistance + fib at the expected region of correction
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Click to Enlarge Name: 2017_11_15_T233_XAUUSD.png Size: 41 KB
  • #34,228
  • Nov 15, 2017 10:05am Nov 15, 2017 10:05am
out quickly at +16 on aggressive trail (price missed 127.2 by a little bit)
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  • #34,229
  • Nov 15, 2017 10:26am Nov 15, 2017 10:26am
Long YM at 1:1 completion in the direction of the trend.
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Click to Enlarge Name: 2017_11_15_T233_YM.png Size: 59 KB
  • #34,230
  • Nov 15, 2017 10:28am Nov 15, 2017 10:28am
here are my 2 trades for today
1st -20
2nd BE
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  • #34,231
  • Nov 15, 2017 10:35am Nov 15, 2017 10:35am
Quoting arc001
Long YM at 1:1 completion in the direction of the trend. {image}
stopped at +4. should have trailed more aggressively when price hit resistance and reversed.
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Click to Enlarge Name: 2017_11_15_T233_YM_Exit.png Size: 51 KB
  • #34,232
  • Nov 15, 2017 11:04am Nov 15, 2017 11:04am
Short YM.
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Click to Enlarge Name: 2017_11_15_T233_YM_2.png Size: 54 KB
  • #34,233
  • Nov 15, 2017 11:10am Nov 15, 2017 11:10am
Quoting arc001
Short YM. {image}
moved stop to +6 (above short term resistance).
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Click to Enlarge Name: 2017_11_15_T233_YM_2_BE.png Size: 52 KB
  • #34,234
  • Nov 15, 2017 11:15am Nov 15, 2017 11:15am
Quoting arc001
{quote} moved stop to +6 (above short term resistance). {image}
stopped at +6
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Click to Enlarge Name: 2017_11_15_T233_YM_2_Exit.png Size: 53 KB
  • #34,235
  • Nov 15, 2017 12:04pm Nov 15, 2017 12:04pm
Quoting Nikster
Took only 1 trade on the minidax today. I hesitated to enter at the yellow arrow, even though I had a 1:1 harmonic completion in the correction and it would have worked out pretty well. At least I am happy I read it well. Tomorrow new chances{image}
May I ask why mini dax, pretty low volume and low liquidity..
Been looking for a good EU 6-8 pm instrument to trade aswell.. So was thinking this instrument was a good catch

Nice trade anyway mate, keep going!
"Luck is when opportunity meets preparation"
  • #34,236
  • Nov 15, 2017 12:25pm Nov 15, 2017 12:25pm
Quoting PeterT
{quote} Well looks like the harmonic completions and the structure were not enough to stop the bulls this morning. Still, personally, I find the feeling of my SL being hit not nearly as bad as the feeling when I stop a trade manually because I'm scared, and then see the trade going my way with a big move. I hope you feel the same :-) Next. ;-)
What instrument are you currently trading?
I was thinking of trading futures but the accounts need to be so big, like 5k-10k minimum to have a decent risk % per trade. Currently focusing on the forex pairs, build my confidence and my account and maybe in a few years time when I have actually time to day trade the best opening hours I will switch to futures, but for now forex for me. Was kind of wondering because I read that you had the same problem? Was kinda curious if you had found a solution to this. Forex is sooooooo slow sometimes, kind of watching paint dry really..
"Luck is when opportunity meets preparation"
  • #34,237
  • Nov 15, 2017 12:35pm Nov 15, 2017 12:35pm
Quoting Sheeep44
{quote} May I ask why mini dax, pretty low volume and low liquidity.. Been looking for a good EU 6-8 pm instrument to trade aswell.. So was thinking this instrument was a good catch Nice trade anyway mate, keep going!
I wanted to start small and I first watched the Eurostoxx50 because there is huge volume and liquidity but a pip there is 1 point which is pretty large compared to the Dax. The Eurostoxx is doing around 3550 and the Dax 13.000. I can finetune more on the Dax then on the Eurostoxx and I when I am ready for 5 Minidax contracts I can switch to the Fdax contracts. I use a 68tickchart for the Minidax because that's almost equal to a 5 min chart and I get plenty of oppertunities also. The spread is also narrow (1 point most of the time) so trading the Minidax is a good instrument if you want to trade not that big and during EU time
  • #34,238
  • Nov 15, 2017 2:57pm Nov 15, 2017 2:57pm
Trained a bit discipline. First entry got taken out (moved my SL). Second entry, I did not move the SL and followed my TP area. I quit a bit earlier, because it was a long day.
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  • #34,239
  • Nov 15, 2017 5:18pm Nov 15, 2017 5:18pm
Quoting Coreg2004
my 2 trades in euro today. {image} {image}
I see that the price of 6E isn't the same as spot E/U, why is that? (about 20 pips higher)
  • #34,240
  • Nov 15, 2017 6:48pm Nov 15, 2017 6:48pm
Quoting Happy_Sniper
{quote} I see that the price of 6E isn't the same as spot E/U, why is that? (about 20 pips higher)
6E is euro futures contract and is not the same as spot (forex). Sniper, you would have read here https://www.tradingacademy.com/lessons/article/spot-forex-vs-forex-futures-expanded/ to find out why is such a discrepancy in the price quoted and other differences.
Always trade your own plan...I don't provide trading signals.
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