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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

  • #34,581
  • Edited 8:31pm Nov 29, 2017 2:09pm | Edited 8:31pm
Hello Traders,

Here is the link to the live stream. I hope you all enjoyed it and sound the content valuable. Please post your comment and like and subscribe if you have not done so already.

https://youtu.be/mMDhJmecd2c
If you fail to plan, you plan to fail.
  • #34,582
  • Nov 29, 2017 2:12pm Nov 29, 2017 2:12pm
Quoting Mr. Pip
Hello Traders, Here is the link to the live stream. I hope you all enjoyed it and sound the content valuable. Please post your comment and like and subscribe if you have not done so already. https://youtu.be/mMDhJmecd2cy.
Thank you. I will watch it.
  • #34,583
  • Nov 29, 2017 2:37pm Nov 29, 2017 2:37pm
Last trade for the day on NQ (+ 17,75) which equivalent to +71 YM.
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  • #34,584
  • Nov 29, 2017 2:40pm Nov 29, 2017 2:40pm
Quoting Coreg2004
{quote} When the 127.2%EXT is complemented by 261.8%EXT of the last swing into PRZ I never hesitate to take counter-trend trade b/c pattern reached targeted area. In a such a case I will enter the trade using the trigger of 1BH/1BL taken out on HTF (987T). My target is 50% RET of the last leg which is usually reached without sweating and my stop-loss above PRZ (no strategy is bulletproof). Also, check out my second trade today in 6B the same story, although news helped me a lot. {image}
Thanks for taking the time, your answers are always very informative
This one also. However, I was actually quoting your post with the 6B trade
This post:
Quoting Coreg2004
I had open trade in 6B and couldn't move the sell limit order when the news hit the wire..well happy anyway {image}
As I understand there was confluence of longer term structure, 1:1 short term harmonic, 200% ext of previous swing down, 261.8 ext of previous correction.
My question was if you were not worried about the bears accelerating?
But I think your answer above is also applicable to the 6B trade, the confluence of 200% EXT and 261.8 EXT, the 1:1 and structure was enough to ignore the bear volume candles right?

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  • #34,585
  • Nov 29, 2017 3:25pm Nov 29, 2017 3:25pm
That live video was an unbelievable eye-opener, definitely had a realization and big ah-ha moment. It happened because I was in the same trade as Damian and as he was explaining the mental game and how to think of patience, I was going through each and every mental stage he mentioned, then as I went to get out of the trade for this or that reason, I paused and listened instead. Such a powerful lesson there. It ended up being a big win but to be called out on all the mental BS I put myself thru in real-time is something totally inspiring.
  • #34,586
  • Nov 29, 2017 3:54pm Nov 29, 2017 3:54pm
Quoting PeterT
{quote} Thanks for taking the time, your answers are always very informative This one also. However, I was actually quoting your post with the 6B trade This post: {quote} As I understand there was confluence of longer term structure, 1:1 short term harmonic, 200% ext of previous swing down, 261.8 ext of previous correction. My question was if you were not worried about the bears accelerating? But I think your answer above is also applicable to the 6B trade, the confluence of 200% EXT and 261.8 EXT, the 1:1 and structure...
Peter, it was crazy market yesterday in 6B. I had entered a second trade base on my method (see PRZ) when another news hit the wire refuting the first one. This trade lasted 10 seconds so I didn't even have time to set my buy limit order just hit the close button on my DOM an I was done.
@Sheeep44 took the trade after point 4 was established (awesome trade BTW), I passed on this one b/c move from 2-3 was extended and waited for point 5

No Peter volume or big bars don't scare me b/c I expect a reaction in opposite direction in my PRZ's, today, for instance, I traded YM my buy limit order at 870 hasn't been filled and I chased the market to exit my trades, why? b/c huge buying order came at 875-872. 233T bars were printed in 17s,18,14s. We never know what's going to happen, the market can change direction in the blink of an eye and we can only stick to trade our plan.
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Always trade your own plan...I don't provide trading signals.
  • #34,587
  • Nov 29, 2017 5:11pm Nov 29, 2017 5:11pm
Quoting Bodiddi
That live video was an unbelievable eye-opener, definitely had a realization and big ah-ha moment. It happened because I was in the same trade as Damian and as he was explaining the mental game and how to think of patience, I was going through each and every mental stage he mentioned, then as I went to get out of the trade for this or that reason, I paused and listened instead. Such a powerful lesson there. It ended up being a big win but to be called out on all the mental BS I put myself thru in real-time is something totally inspiring.
The market can put you in a padded room for sure if you let it. When I’m dough consult your trade plan. Don’t get bullied by candles or immediate price action. Trade your plan. I’m glad it helped you!
If you fail to plan, you plan to fail.
  • #34,588
  • Nov 29, 2017 5:17pm Nov 29, 2017 5:17pm
Quoting Mr. Pip
{quote} The market can put you in a padded room for sure if you let it. When I’m dough consult your trade plan. Don’t get bullied by candles or immediate price action. Trade your plan. I’m glad it helped you!
this was your best webinar to date thanks for taking time to do it
  • #34,589
  • Nov 29, 2017 7:19pm Nov 29, 2017 7:19pm
Quoting vladutz112
{quote} this was your best webinar to date thanks for taking time to do it
Very welcomed!
If you fail to plan, you plan to fail.
  • #34,590
  • Nov 29, 2017 8:10pm Nov 29, 2017 8:10pm
Quoting Mr. Pip
{quote} Very welcomed!

Greetings Mr. Pip, the video was taken down, i am curious about your approach to Harmonic Trading (just finished the first 2 volumes from Carney and made a plan based on them). What do you think about "shark", "cypher" and "dragon??" (i think it was named) patterns?? Don't know if i should add them or not, they don't seem as solid just based on the fact that it is not Carney's work, they look like simple rip-offs.
  • #34,591
  • Nov 29, 2017 8:31pm Nov 29, 2017 8:31pm
Quoting Abade
{quote} Greetings Mr. Pip, the video was taken down, i am curious about your approach to Harmonic Trading (just finished the first 2 volumes from Carney and made a plan based on them). What do you think about "shark", "cypher" and "dragon??" (i think it was named) patterns?? Don't know if i should add them or not, they don't seem as solid just based on the fact that it is not Carney's work, they look like simple rip-offs.
Abade,

Sometimes Youtube links on forums do not embed correctly. Today's session can be found here:

https://youtu.be/mMDhJmecd2c

If you subscribe you will receive a notification each time a video is published
  • #34,592
  • Nov 29, 2017 8:34pm Nov 29, 2017 8:34pm
Quoting Abade
{quote} Greetings Mr. Pip, the video was taken down, i am curious about your approach to Harmonic Trading (just finished the first 2 volumes from Carney and made a plan based on them). What do you think about "shark", "cypher" and "dragon??" (i think it was named) patterns?? Don't know if i should add them or not, they don't seem as solid just based on the fact that it is not Carney's work, they look like simple rip-offs.
I corrected the problem. You should be able to see it now. No one understands Harmonic Patterns better than Scott Carney. It's a science that goes way beyond W and M shapes. I would not follow any other teachings on Harmonic Patterns other than Scott.
If you fail to plan, you plan to fail.
  • #34,593
  • Nov 29, 2017 8:53pm Nov 29, 2017 8:53pm
Quoting Mr. Pip
{quote} I corrected the problem. You should be able to see it now. No one understands Harmonic Patterns better than Scott Carney. It's a science that goes way beyond W and M shapes. I would not follow any other teachings on Harmonic Patterns other than Scott.

Sincere thanks for replying & teaching others .And yeah, as you said, i also think it is best to focus on the proven patterns for accuracy (scared of sharks actually).
  • #34,594
  • Nov 29, 2017 8:59pm Nov 29, 2017 8:59pm
Quoting Mr. Pip
{quote} The market can put you in a padded room for sure if you let it. When I’m dough consult your trade plan. Don’t get bullied by candles or immediate price action. Trade your plan. I’m glad it helped you!
What do you mean by 'dough' Damian?

Another great session on sharing your thought process before, during and after each trade. Another important video lesson in my collection series....
Thank you very much for this priceless gift.
  • #34,595
  • Nov 29, 2017 8:59pm Nov 29, 2017 8:59pm
Quoting Abade
{quote} Sincere thanks for replying & teaching others .And yeah, as you said, i also think it is best to focus on the proven patterns for accuracy (scared of sharks actually).
I particularly liked the Gartley and the Bat. They were my favorites as they seemed to contain price withing the pattern meaning XA. They are easier to work with my least favorite was the Crab.
If you fail to plan, you plan to fail.
  • #34,596
  • Nov 29, 2017 9:00pm Nov 29, 2017 9:00pm
Quoting Milfortra
{quote} What do you mean by 'dough' Damian? Another great session on sharing your thought process before, during and after each trade. Another important video lesson in my collection series.... Thank you very much for this priceless gift.
you are welcomed sorry about that it was a typo doubt was what I meant to say.
If you fail to plan, you plan to fail.
  • #34,597
  • Nov 29, 2017 9:03pm Nov 29, 2017 9:03pm
Quoting Mr. Pip
{quote} you are welcomed sorry about that it was a typo doubt was what I meant to say.
  • #34,598
  • Nov 30, 2017 12:48am Nov 30, 2017 12:48am
NSL Sell at Resistance
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No one wants to be defeated~
  • #34,599
  • Nov 30, 2017 12:53am Nov 30, 2017 12:53am
NSH BUY
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No one wants to be defeated~
  • #34,600
  • Edited 2:33am Nov 30, 2017 12:59am | Edited 2:33am
Quoting Mr. Pip
Hello Traders, Here is the link to the live stream. I hope you all enjoyed it and sound the content valuable. Please post your comment and like and subscribe if you have not done so already. https://youtu.be/mMDhJmecd2c
I really like how you setup your trades and then let price do its thing. However, if I would have been in this trade I would have exit it earlier per my rules. This saved me several times in the past. I am getting better on the patience stuff (e.g. last trade yesterday were I stayed in the trade and got the equivalent of 71 YM points).
During watching, I saw a long which would also have worked out.
Thank you for taking the time for us. You are a multi talent, since you could also give meditation lessons. I really like these live streams and also when we trade live via the thread.

NB:You did not cover the point of scalling in.

Yesterday, it was my best trading day. I could get the equivalent on NQ of +230 YM points. Normally, I am more in the range 10 to 25. I could not attend the live stream in "live", because I had at that time of the day only my mobile connection which I used for trading (limited capacity)
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