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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

  • #34,661
  • Dec 1, 2017 9:19am Dec 1, 2017 9:19am
Quoting arc001
Long YM {image}
be on test of structure far from entry
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  • #34,662
  • Dec 1, 2017 10:10am Dec 1, 2017 10:10am
Quoting arc001
{quote} be on test of structure far from entry {image}
stopped at be on news.
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  • #34,663
  • Dec 1, 2017 10:16am Dec 1, 2017 10:16am
Quoting arc001
{quote} stopped at be on news. {image}

Why did you not locked in some more profit, e.g.below previous step correction? ( do not how to call it)
  • #34,664
  • Edited 10:50am Dec 1, 2017 10:24am | Edited 10:50am
Here you all go, like I said last week I am going to hold myself accountable to share my results.
I calculated it back to a 1000$ account, to make it easy to see for everyone.

Pretty good result for a 4 day work-week.

I am done for the week, took 4 trades today, with 2 winners, 1 BE and 1 loser. ( which aren't included, this was Mon-Thurs)
Enjoy the weekend everyone!
Green pips to you all.

'When you learn the trading skill of risk acceptance, the market will not be able to generate information that you define or interpret as painful. If the information the market generates doesn't have the potential to cause you emotional pain, there's nothing to avoid. It's just information, telling you what the possibilities are.'
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"Luck is when opportunity meets preparation"
  • #34,665
  • Dec 1, 2017 10:24am Dec 1, 2017 10:24am
I decided to step away from YM for a bit because of increased instability and it has been harder for me to read / gauge the movements over the past few days. I went to RTY (Russell 2000 Futures) and made a nice trade in an area of double confluence. So the longer term hit the 78.6% retracement and the short term just moved past the 1:1 harmonic completion in order to hit the 78.6% of the longer term, so I took the D long and headed north. I made the equivalent of 53 points and was taken out as I trailed the trade. Traded on 1 Contract, profit $260 (-$3.60 for the round-trip order).
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Markets can remain irrational longer than you can remain solvent - JMK
  • #34,666
  • Dec 1, 2017 10:27am Dec 1, 2017 10:27am
Trade carefully today, there was an 60-ish tick liquidity vacuum on YM shortly after 11 EST. If you were long there was no way to exit a trade, including your SL.

Good weekend everyone!

N
  • #34,667
  • Dec 1, 2017 10:28am Dec 1, 2017 10:28am
Quoting Sheeep44
Here you all go, like I said last week I am going to hold myself accountable to share my results. I calculated it back to a 1000$ account, to make it easy to see for everyone. Pretty good result for a 4 day work-week. {image} {image} {image}
Good momentum, good projection,... Congrats
  • #34,668
  • Dec 1, 2017 10:55am Dec 1, 2017 10:55am
Quoting evocpr19
{quote} Good momentum, good projection,... Congrats
Thanks mate, all the work, blood,sweat and tears are finally paying off. Took some real grind to get here and believe me, I am nowhere near finished!
The real progress for me came after I stopped caring about the outcome of the trade, but the progress and actually taking the trade. When I stopped caring about the outcome ( $$$ ), I was doing better than ever before. Hope this helps, have a good weekend!
"Luck is when opportunity meets preparation"
  • #34,669
  • Dec 1, 2017 10:58am Dec 1, 2017 10:58am
Quoting evocpr19
{quote} Why did you not locked in some more profit, e.g.below previous step correction? ( do not how to call it)
As per my rules the trailing starts only at 127.2%. this was a one off event. so its fine i think. thanks.
  • #34,670
  • Dec 1, 2017 11:39am Dec 1, 2017 11:39am
Hello wonderful traders i celebrate u all. Mr Pip i specially hail your awesome contributions and good work towards the progress of this community. I have been learning your harmonic threads for a while now and am happy am improving on my forex skillset. this is my 1st work please go through it and tell m what is not right. thanks and God bless you abundantly
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  • #34,671
  • Dec 1, 2017 12:09pm Dec 1, 2017 12:09pm
Quoting didi74
Hello wonderful traders i celebrate u all. Mr Pip i specially hail your awesome contributions and good work towards the progress of this community. I have been learning your harmonic threads for a while now and am happy am improving on my forex skillset. this is my 1st work please go through it and tell m what is not right. thanks and God bless you abundantly {image}
I am in that same trade. It will be interesting to see what happens over the weekend.
  • #34,672
  • Dec 1, 2017 2:31pm Dec 1, 2017 2:31pm
Quoting pradlal
Hello traders! Days trade on the FDAX. Kinda missed the big move coz I locked in profit. Was very hard consciously trying to not let that affect my judgement after. {image}
Hey Pradlal, Great trading man! I was in doubt of taking the trade (your first trade) so let it go and missed the big one. After watching price for a while I took a D trade of a 1:1 completion against intraday expectation because immidiate OF made a NSH and corrected 100% so low risk I thought but it was a loss and then I took 2 shorts and of course at that moment the low of the day was set so got stopped out twice but took a winner around the open of wallstreet. I ended the week with a 1% profit after 3 (small) losing weeks.

Maybe a tip for everyone, if you don't take every trade that is in line with your tradingrules you hurt your expectancy, like Damian told us many times. Since I let a couple of trades go by I missed some good trading oppertunities the last weeks and that is also a break of my tradingrules from now on. I will continue with backtesting besides my real trading to make the decissionmaking more and more autopilot.
  • #34,673
  • Dec 2, 2017 1:22am Dec 2, 2017 1:22am
Hi Mr.Pip and everyone here ,

after some thinking on Order Flow , i found that there were some wrong info view between tick chart and time based chart for the momentum

When the momentum were weak on a tick chart = more candle to complete a correction ( it show volume of trading )

While the time based chart would be or would not = no different in number of candle even price moved ( it dint show volume but just price )

When got alot volume but price dint move much

tick chart = alot candle with low moving price

time chart = few candle with low moving price

thus when comparing to previous momentum with same time range and price but different volume traded

tick chart = weaker

time chart = no different to previous

( maybe the solution were to look at the volume but in retail fx we dont get real volume )
( not really a problem to the overall strategy but just a less confluence )

hope you guys can give me a view on this if i am wrong.
  • #34,674
  • Dec 2, 2017 1:24am Dec 2, 2017 1:24am
I also found another ABCD pattern on EJ but was eventually knocked out 0n SL placed 10 pips above 161 level and then price move downward
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  • #34,675
  • Dec 2, 2017 3:43am Dec 2, 2017 3:43am
Quoting 6288monkey
Hi Mr.Pip and everyone here , after some thinking on Order Flow , i found that there were some wrong info view between tick chart and time based chart for the momentum When the momentum were weak on a tick chart = more candle to complete a correction ( it show volume of trading ) While the time based chart would be or would not = no different in number of candle even price moved ( it dint show volume but just price ) When got alot volume but price dint move much tick chart = alot candle with low moving price time chart = few candle with low moving...
I think 233 tick chart means 233 price movement? So it’s not based on volume. So you can do the same with forex if you have the indicator. I think it’s available in MT4 but you need to buy. I have compared trading with tick chart and time chart before. There is not much difference in winrate. But the tick chart is a lot easier to read thou because it shows the swings more clearly. Just my 2 cents worth. Once I’m ready to trade bigger lot size I will definitely switch to tick chart with futures. At the mean time, just have to stick with spot forex first.
  • #34,676
  • Dec 2, 2017 4:04am Dec 2, 2017 4:04am
Hey Lithium, a 233tick charts represents 233 transactions. A transaction could be 1 contract, 10 or 100 contracts. If you take a tickchart and add a volume indicator you will see that the volume is different per candle.
  • #34,677
  • Dec 2, 2017 4:29am Dec 2, 2017 4:29am
Quoting Nikster
Hey Lithium, a 233tick charts represents 233 transactions. A transaction could be 1 contract, 10 or 100 contracts. If you take a tickchart and add a volume indicator you will see that the volume is different per candle.
to my understanding of how price move were when there was an unbalance of order then price move.


https://www.youtube.com/watch?v=ads4BqVj2II

this were OrderFlow Level 2 in professional term , i will called it a OrderBook - and it show how order flow in and out.

Limit Order - post your trade into the book , and waiting other to take it.
Instant Order - you were taking those limit order.

When limit order( supply ) were lesser than demand on the BUY SIDE - then price go UP to find supply on next price thus price tick~
When limit order ( supply ) were lesser than demand on the SELL SIDE - then price go DOWN to find supply on next price thus price tick~

Yes , tick chart were different from volume also haha , but nearer to volume compare to time based chart , and more useful when apply momentum.

( dont mix this with Mr.Pip order flow , it was a different thing )
  • #34,678
  • Dec 2, 2017 5:13am Dec 2, 2017 5:13am
Important thing is able to see NSH, HL, NSL, LH. projection and depth. You can see all these both in tick chart or time chart. Just that tick chart shows them more clearly, so easier to read.
  • #34,679
  • Dec 2, 2017 2:57pm Dec 2, 2017 2:57pm
[quote=Nikster;10552748]{quote} Hey Pradlal, Great trading man! I was in doubt of taking the trade (your first trade) so let it go and missed the big one. After watching price for a while I took a D trade of a 1:1 completion against intraday...

Hey Nikster, I was in doubt of taking the first trade as well but it was within the rules and I had just finished watching the livestream where Damian talks about not sitting out of trades that fit with your rules. I have also started logging in every trade before entering and writing down my reasons for that trade as a process to build the discipline.

Congrats on the profit week. Any week ended in black is a good week
  • #34,680
  • Dec 4, 2017 1:19am Dec 4, 2017 1:19am
BUY @ 78.6
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No one wants to be defeated~
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