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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

  • #35,041
  • Dec 20, 2017 9:57am Dec 20, 2017 9:57am
Ok guys scalping today really sucked I won't put you guys through that so. It is fun but 10 point stops just don't work. Friday if the market is slow we will trade the 144T but on the trade plan.
If you fail to plan, you plan to fail.
  • #35,042
  • Dec 20, 2017 9:58am Dec 20, 2017 9:58am
Quoting parviz1953
Follow up on EURUSD H4: Price just passed AB<=CD 1:1 harmonic (and 127% of AB leg )the Garttely pattern D point arrived at classical 78.6% of XA leg. and respected Daily channel boundaries . I am waiting for confirmation By a rotational bar, to go short SL @1.1950, Limit @1.1800, BE @ 1.1830. {image}
Buyers look pissed
If you fail to plan, you plan to fail.
  • #35,043
  • Edited 1:36pm Dec 20, 2017 10:20am | Edited 1:36pm
Quoting beepbop2015
{quote} That was a beautiful trade, parviz! Well called. I've been watching EUR/USD H4 (as well as several other H4 pairs) lately too. The harmonics have been amazing.
Thanks, i have got something around 80 pips already ,trading C aggressively and now it is time to play the D completion with the Damian Rules in mind ,BE 38.2% and target at 61.8% of CD leg.
Thanks again Damian for what you have thought me, and thank you forever, I owe you as a teacher for the rest of my life.
  • #35,044
  • Edited 11:11am Dec 20, 2017 10:53am | Edited 11:11am
YM - Traded the 144t today, not that happy with my performance and I want to explain why. When you take trades that don't fit your trade plan, and then you have success, you come back the next day not nearly as tied to your trade plan as you should be. I had back to back losing days Mon/Tue, following my trade plan. I come in on Wednesday, take a bunch of dumb trades, end up with 57 points and the trade plan that's been consistently profitable doesn't look as attractive on Thursday. Recipe for ruin. Committing to getting back on the plan tomorrow.

9 trades (double my average)
------------------------------------------------
+35, +4, +0, +2, -18, +0, -1, -11, +46
------------------------------------------------
+57
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  • #35,045
  • Dec 20, 2017 11:32am Dec 20, 2017 11:32am
Had a meeting today, could not trade.
  • #35,046
  • Dec 20, 2017 11:35am Dec 20, 2017 11:35am
Nice little quick and pain-free trade.

Everything you need is on the chart.

Learn, feedback and apply.
Attached Image (click to enlarge)
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"Luck is when opportunity meets preparation"
  • #35,047
  • Dec 20, 2017 1:21pm Dec 20, 2017 1:21pm
Finally found some small trades on NQ (+2,5; +2,75; +4,5; +4,5). My trailing was too aggressive. Expected TP would have been hit
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  • #35,048
  • Dec 20, 2017 1:34pm Dec 20, 2017 1:34pm
Quoting bapakjason
{quote} Any suggestions for mt5 tick/volume bar chart? Thanks for your suggestions/time ! Jason
Hi send you a PM.
  • #35,049
  • Dec 20, 2017 1:50pm Dec 20, 2017 1:50pm
Last trade on NQ: +4,5 (Equivalent to +18 YM points)
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  • #35,050
  • Dec 20, 2017 2:09pm Dec 20, 2017 2:09pm
[quote=bmdenton23;10609522]YM - Traded the 144t today, not that happy with my performance and I want to explain why. When you take trades that don't fit your trade plan, and then you have success, you come back the next day not nearly as tied to your trade plan as you should be. I had back to back losing days Mon/Tue, following my trade plan. I come in on Wednesday, take a bunch of dumb trades, end up with 57 points and the trade plan that's been consistently profitable doesn't look as attractive on Thursday. Recipe for ruin. Committing to getting back on the plan tomorrow. 9 trades (double my average) ------------------------------------------------ +35, +4, +0, +2, -18, +0, -1, -11, +46 ------------------------------------------------ +57 {image}[/quote

I do not know your trade plan. However, the multiple entries gives at least the impression that you are chasing price and that your expectation what price should do (according to your analysis) are not that clear.

PS: Please do not take it bad, I just want to help. I am happy that you post.
  • #35,051
  • Edited 7:33pm Dec 20, 2017 5:35pm | Edited 7:33pm
Quoting parviz1953
{quote} Hello MT4 Lovers: As i promised, i have fixed the bugs,(as far as was able to test), improved the online tickchart indicator, to save and use a kind of history chart, i have also included another tool which gives you fibo retracement and fibo projection and pips movement on any trend line that you draw over an order flow, and also a template to work with them. Now you have all the necessary tools to trade like Damian on MT4 and have no more excuse..... 1)Copy indicators to indicator folder and template file to template folder,...
Thanks to those who responded to my request for feedback, i am receiving very good suggestions for further improvement of tick chart tool, i am implementing them one by one , i am going to post a new version next week, please: if all who are downloading it , care to send me their comments till then , it will become more useful for themselves...
  • #35,052
  • Edited 11:11pm Dec 20, 2017 8:54pm | Edited 11:11pm
Hello Traders:
A potential Classical Gartley pattern at C point USDJPY H4 , B point at 61.8% of XA leg, C at 78.6 of AB leg ,expected extended AB<=CD ,for D to be at 127% of AB leg projection ,already have a good rotational Bar and now retesting , a very good opportunity with a perfect R/R ratio.
Don't miss it, consider it as long term investment,even if you are a day trader, scale in with small lots gradually, so that, if it does not work out, you don't lose too much, and expect more than 150 pips of profit if it does .

SL @10 pips above A point, BE @ B point and my preferred Limit @ 127% projection of AB leg, (Although to be a classical Gartley, D point, may extend beyond it to 78.6% of XA leg).
Attached Image (click to enlarge)
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PS: A very interesting observation that i had during the past 3 weeks is the inverse harmonic correlation of USDJPY H4 and EURUSD H4, when one is at it's D point of an AB=CD pattern, the other one is exactly at it's C point, so that i was able to trade them as a basket each with it's own rules of money management.
  • #35,053
  • Edited 8:37am Dec 21, 2017 7:07am | Edited 8:37am
Short GU

Update - Price near to TP but take out on last bear candle
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  • #35,054
  • Dec 21, 2017 8:26am Dec 21, 2017 8:26am
Hello Traders, are we excited about the live stream tomorrow? I know I am! Let's see what the market offers today.
If you fail to plan, you plan to fail.
  • #35,055
  • Dec 21, 2017 8:27am Dec 21, 2017 8:27am
Quoting Mr. Pip
Hello Traders, are we excited about the live stream tomorrow? I know I am! Let's see what the market offers today.
I am loking forward to it.

NB: Got already -10 today (not following rules)
  • #35,056
  • Dec 21, 2017 8:29am Dec 21, 2017 8:29am
Yeah let' see what the market brings us today! Perhaps Santa Claus has some presents for us :-)
  • #35,057
  • Edited 9:32am Dec 21, 2017 8:36am | Edited 9:32am
Short UJ

Update - closed at BE , price NSL but dint goes to 127.20
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  • #35,058
  • Dec 21, 2017 8:38am Dec 21, 2017 8:38am
Quoting Mr. Pip
Hello Traders, are we excited about the live stream tomorrow? I know I am! Let's see what the market offers today.
Hi , Mr.Pip

i am new here , can i know how to view live stream for tomorrow?
  • #35,059
  • Dec 21, 2017 8:40am Dec 21, 2017 8:40am
Quoting evocpr19
{quote} I am loking forward to it. NB: Got already -10 today (not following rules)
That was me yesterday. I made a great return on my longer term but went to shit with the scalping. It's not for me. Tomorrow if the 233 is not good we will trade the 144 but on the trade plan.
If you fail to plan, you plan to fail.
  • #35,060
  • Dec 21, 2017 8:40am Dec 21, 2017 8:40am
Quoting 6288monkey
{quote} Hi , Mr.Pip i am new here , can i know how to view live stream for tomorrow?
I will post a link here to the live stream at 0900 eastern time about 30 minutes before the market open.
If you fail to plan, you plan to fail.
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