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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

  • #35,741
  • Jan 22, 2018 6:48am Jan 22, 2018 6:48am
Quoting Mr. Pip
Morning Traders! Let's see what we get today.
Good morning!
  • #35,742
  • Jan 22, 2018 6:48am Jan 22, 2018 6:48am
Quoting PeterT
GBPUSD 58tick Short Was a bit risky as price corrected 100% but that gives good risk reward. SL right above the swing. Was hit -4 pips or -17 euro {image}
Felt you buddy, same trade got me and bite me in the ass :o
"Luck is when opportunity meets preparation"
  • #35,743
  • Jan 22, 2018 6:48am Jan 22, 2018 6:48am
Quoting Sheeep44
{quote} Felt you buddy, same trade got me and bite me in the ass :o
I am currently long, how about you?
"Luck is when opportunity meets preparation"
  • #35,744
  • Jan 22, 2018 6:52am Jan 22, 2018 6:52am
Quoting Sheeep44
{quote} I am currently long, how about you?
Currently just waiting for new opportunity long or short.
It is not very clear to me if price will correct or make a NSL (edit: NSH I mean). Ranging a bit on 58tick (GBPUSD)
  • #35,745
  • Jan 22, 2018 6:53am Jan 22, 2018 6:53am
Quoting maxx7
Hi Guys, good Morning, Seems i had no luck at first attempt, let me try again with my question : "For whom that have set a specific duration to his trading session, How do you manage a trade that is taking longer to develop? Say you entered a trade that is in line with what is taught here, but price haven't already made a satisfiying move in your direction, and your session is running out of time. What would you do? 1-Close the trade anyway at BE or a small loss 2-Set the stop accordingly to the plan and the present market conditions and walk away...
Hello Maxx sorry your question was missed. The simple answer is to consult your trade plan. Has anything occurred what would have you change the way you manage your trade? We can't always expect the market to be efficient with the trade progression. The market speeds up and slows down at will we must be patient and let the trade run its course. Patience is at time the hardest thing for us to find sometimes but we must have it. I hope this helps.
If you fail to plan, you plan to fail.
  • #35,746
  • Jan 22, 2018 6:53am Jan 22, 2018 6:53am
Quoting PeterT
{quote} Currently just waiting for new opportunity long or short. It is not very clear to me if price will correct or make a NSL (edit: NSH I mean). Ranging a bit on 58tick (GBPUSD)
out with -1,6 pip
"Luck is when opportunity meets preparation"
  • #35,747
  • Jan 22, 2018 6:54am Jan 22, 2018 6:54am
Quoting PeterT
{quote} Currently just waiting for new opportunity long or short. It is not very clear to me if price will correct or make a NSL (edit: NSH I mean). Ranging a bit on 58tick (GBPUSD)
I'm flat looking for longs at the moment.
If you fail to plan, you plan to fail.
  • #35,748
  • Jan 22, 2018 6:54am Jan 22, 2018 6:54am
Quoting Sheeep44
{quote} out with -1,6 pip
Did you long after the large candle that took me out?
  • #35,749
  • Jan 22, 2018 6:55am Jan 22, 2018 6:55am
Quoting PeterT
{quote} Did you long after the large candle that took me out?
Nope, went long at 15:42 buddy, at the 61,8 retracement
"Luck is when opportunity meets preparation"
  • #35,750
  • Jan 22, 2018 6:56am Jan 22, 2018 6:56am
My YM trades:
Attached Image (click to enlarge)
Click to Enlarge Name: aaab.jpg Size: 330 KB
  • #35,751
  • Jan 22, 2018 6:58am Jan 22, 2018 6:58am
Quoting evocpr19
My YM trades: {image}
Why did you go long on the first trade and added on a losing trade, just curious, we might all learn something.

Edit: agressive D buy?
"Luck is when opportunity meets preparation"
  • #35,752
  • Jan 22, 2018 6:58am Jan 22, 2018 6:58am
Quoting Mr. Pip
{quote} I'm flat looking for longs at the moment.
YM moving slow.
Wow! I've got some experience to gain.
  • #35,753
  • Jan 22, 2018 7:01am Jan 22, 2018 7:01am
Quoting evocpr19
My YM trades: {image}
Hey Evo,
I appreciate your posts. I was wondering if you could explain why you have the area in the rectangle marked as your AOI for longs? It's not clear to me on the chart.
Thanks
  • #35,754
  • Jan 22, 2018 7:04am Jan 22, 2018 7:04am
Quoting maxx7
Hi Guys, good Morning, Seems i had no luck at first attempt, let me try again with my question : "For whom that have set a specific duration to his trading session, How do you manage a trade that is taking longer to develop? Say you entered a trade that is in line with what is taught here, but price haven't already made a satisfiying move in your direction, and your session is running out of time. What would you do? 1-Close the trade anyway at BE or a small loss 2-Set the stop accordingly to the plan and the present market conditions and walk away...
Hey maxx I think how you handle it is up to you to decide.
Personally I would not just let the SL sit below/above the swing and then leave.
If you're already at BE with your SL, you can consider just taking profit and leave or set a TP and leave to give the trade a chance.
I think everybody has a different opinion about it and it's up to you what you feel comfortable with.
  • #35,755
  • Jan 22, 2018 7:10am Jan 22, 2018 7:10am
+ 20 YM
"Luck is when opportunity meets preparation"
  • #35,756
  • Jan 22, 2018 7:13am Jan 22, 2018 7:13am
Quoting Sheeep44
{quote} Why did you go long on the first trade and added on a losing trade, just curious, we might all learn something. Edit: agressive D buy?
yes and due to overall structure (Rectangle is typical area for expectation failure of the previous down swing). Bears should have been able to achieve more, given the previous down swing.
  • #35,757
  • Jan 22, 2018 7:17am Jan 22, 2018 7:17am
i think better traders will have profited from the upwards momentum at the moment but i haven't found any retracements into a zone i felt comfortable going long in.
  • #35,758
  • Jan 22, 2018 7:20am Jan 22, 2018 7:20am
Quoting waqz12345
i think better traders will have profited from the upwards momentum at the moment but i haven't found any retracements into a zone i felt comfortable going long in.
Don't feel bad I have no entries either
If you fail to plan, you plan to fail.
  • #35,759
  • Jan 22, 2018 7:20am Jan 22, 2018 7:20am
Quoting waqz12345
i think better traders will have profited from the upwards momentum at the moment but i haven't found any retracements into a zone i felt comfortable going long in.
Slow runaway train.
Wow! I've got some experience to gain.
  • #35,760
  • Jan 22, 2018 7:27am Jan 22, 2018 7:27am
Long tight stop on immediate order flow
Attached Image (click to enlarge)
Click to Enlarge Name: YM 03-18 (144 Tick) 2018_01_22.png Size: 39 KB
If you fail to plan, you plan to fail.
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