Ratios & Harmonics: a Different Way to Trade | Page 1822 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

"Ratios & Harmonics: a Different Way to Trade." Summary 37 replies

Learning to trade with harmonics 11 replies

Time for Change - Pivots & Harmonics to freedom 67 replies

180 reasons to trade Harmonics and Patterns 13 replies

Group Trading based on Elliott wave and Harmonics 0 replies

Attachments: Ratios & Harmonics: a Different Way to Trade
Exit Attachments

Ratios & Harmonics: a Different Way to Trade

  • #36,421
  • Feb 2, 2018 8:07am Feb 2, 2018 8:07am
Well second time in a week profit my longer term trade gets cut short. after I got taken out at BE price moved swiftly to target left tons on the table but that is part of the business. I followed rules so there is nothing to do but next.
Attached Image (click to enlarge)
Click to Enlarge Name: YM 03-18 (1597 Tick) 2018_02_02.png Size: 82 KB
If you fail to plan, you plan to fail.
  • #36,422
  • Edited 8:29am Feb 2, 2018 8:08am | Edited 8:29am
Long YM at 928

Eek...let's see if I can last through market open.
Attached Image (click to enlarge)
Click to Enlarge Name: 928.png Size: 58 KB
  • #36,423
  • Feb 2, 2018 8:29am Feb 2, 2018 8:29am
Quoting Mr. Pip
Well second time in a week profit my longer term trade gets cut short. after I got taken out at BE price moved swiftly to target left tons on the table but that is part of the business. I followed rules so there is nothing to do but next. {image}
I saw this, would have been a nice trade, but given your entries, you had also not a lot of space to protect (and it is a lot of money at stake)
  • #36,424
  • Feb 2, 2018 8:40am Feb 2, 2018 8:40am
SEcond trade on NQ: +110
Attached Image (click to enlarge)
Click to Enlarge Name: aaab.jpg Size: 359 KB
  • #36,425
  • Feb 2, 2018 8:45am Feb 2, 2018 8:45am
Shew...doesn't get much closer than that. Lesson learned. Wait for open.
Attached Image (click to enlarge)
Click to Enlarge Name: shew.png Size: 47 KB
  • #36,426
  • Feb 2, 2018 8:46am Feb 2, 2018 8:46am
Quoting AzizLight
Shew...doesn't get much closer than that. Lesson learned. Wait for open. {image}
I do take trades in the first 10 minutes regularly, but my Win% is less than 50% so I'm trying to cut back.
  • #36,427
  • Feb 2, 2018 8:50am Feb 2, 2018 8:50am
Morning all, I'm a little late to my computer.
Wow! I've got some experience to gain.
  • #36,428
  • Feb 2, 2018 8:51am Feb 2, 2018 8:51am
Quoting 6288monkey
{quote} Today market were good to explain this on UJ 5min chart. ( expectation NSH ) 1 - the blue circle reach 38.20 but dint go below it and create a rotation ( how possible was it for us to trade that , shall the rotation was more shallow and futher from the structure on top ) 1 , 2 , 3 , 4 - All were basically the same that , price corrected over 38.20 but dint have a rotation that close below/on 38.20 that worth the risk reward , by waiting for those signal on a 5min chart i would sitting all day long . and it was quite normal for a 5min chart...
I did my analysis on trade 1: will do the other trades after my trading session.

The way I look at it is that we have a really strong projection, so the retracement shouldn't be that deep, raises awareness. Even after we see that huge wick ( news? )
The only noticeable structure I saw was at the 78,6% fib, which we eventually hit, BUT still we have a lot of bearish momentum, so if it was in your trading plan to enter or not, that would be the deciding factor.

What I think went wrong with your analysis on trade 1: You were trading a complex correction, and didn't zoom out far enough on the chart, like you see in my picture.

IMHO, if I could you advice, just post some charts on the forum, try do some more backtesting and see how the 5M chart works for you. Maybe switch to a lower TF 1-4 M? or even to a tick chart. The other thing, watch every youtube video from MR pips, it is really a gem.


Hope this helps.
Attached Image (click to enlarge)
Click to Enlarge Name: Schermafbeelding 2018-02-02 om 15.46.55.png Size: 137 KB
"Luck is when opportunity meets preparation"
  • #36,429
  • Feb 2, 2018 9:02am Feb 2, 2018 9:02am
My short
Attached Image (click to enlarge)
Click to Enlarge Name: YM 03-18 (233 Tick) 2018_02_02.png Size: 61 KB
If you fail to plan, you plan to fail.
  • #36,430
  • Feb 2, 2018 9:02am Feb 2, 2018 9:02am
Quoting 6288monkey
{quote} Today market were good to explain this on UJ 5min chart. ( expectation NSH ) 1 - the blue circle reach 38.20 but dint go below it and create a rotation ( how possible was it for us to trade that , shall the rotation was more shallow and futher from the structure on top ) 1 , 2 , 3 , 4 - All were basically the same that , price corrected over 38.20 but dint have a rotation that close below/on 38.20 that worth the risk reward , by waiting for those signal on a 5min chart i would sitting all day long . and it was quite normal for a 5min chart...
See chart for explanation buddy, hope it helped.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Schermafbeelding 2018-02-02 om 16.00.36.png Size: 110 KB
Click to Enlarge Name: Schermafbeelding 2018-02-02 om 16.01.36.png Size: 164 KB
"Luck is when opportunity meets preparation"
  • #36,431
  • Feb 2, 2018 9:04am Feb 2, 2018 9:04am
Quoting Mr. Pip
My short {image}
I was gonna take this but second-guessed myself. Ironically I decided to watch one of your videos to get me back focused and one of the first things you say "don't look for reasons to not follow your expectations. You'll always find a reason"... christ.

Happened 2x today costing me roughly 60 potential ticks
  • #36,432
  • Feb 2, 2018 9:04am Feb 2, 2018 9:04am
YM - dang trail got taken out just before the big run +56, trail was way too tight
  • #36,433
  • Feb 2, 2018 9:04am Feb 2, 2018 9:04am
Out on trail 88 points
Attached Image (click to enlarge)
Click to Enlarge Name: YM 03-18 (233 Tick) 2018_02_02.png Size: 67 KB
If you fail to plan, you plan to fail.
  • #36,434
  • Feb 2, 2018 9:14am Feb 2, 2018 9:14am
Quoting Mr. Pip
My short {image}
Feeling great to know that I actually took an almost identical trade! Thanks for all the education, Mr Pip!
  • #36,435
  • Feb 2, 2018 9:16am Feb 2, 2018 9:16am
Quoting Milfortra
{quote} Feeling great to know that I actually took an almost identical trade! Thanks for all the education, Mr Pip!
Very welcome. I'm happy to be in a position to help and enlighten you guys!!!
If you fail to plan, you plan to fail.
  • #36,436
  • Feb 2, 2018 9:16am Feb 2, 2018 9:16am
Same for me Thank You Mr Pip.
Attached Image (click to enlarge)
Click to Enlarge Name: YM 03-18 (233 Tick) 2018_02_02.png Size: 60 KB
Time is an illusion, timing is an art.
  • #36,437
  • Feb 2, 2018 9:33am Feb 2, 2018 9:33am
Update: Took a loss of -25 ticks on NQ. Wish all a nice Weekend.

Congrats to the short on YM (was focusing on NQ today)
  • #36,438
  • Feb 2, 2018 9:34am Feb 2, 2018 9:34am
Took a short at 884. Off and on the pain train.
Attached Image (click to enlarge)
Click to Enlarge Name: YM 03-18 (233 Tick) 2018_02_02.png Size: 82 KB
Wow! I've got some experience to gain.
  • #36,439
  • Feb 2, 2018 9:35am Feb 2, 2018 9:35am
Quoting waqz12345
{quote} I was gonna take this but second-guessed myself. Ironically I decided to watch one of your videos to get me back focused and one of the first things you say "don't look for reasons to not follow your expectations. You'll always find a reason"... christ. Happened 2x today costing me roughly 60 potential ticks
Get back on it then! Let's go!
If you fail to plan, you plan to fail.
  • #36,440
  • Feb 2, 2018 9:36am Feb 2, 2018 9:36am
Quoting bmdenton23
YM - dang trail got taken out just before the big run +56, trail was way too tight
If you followed your rules, next +56 is a great return. Congrats!
If you fail to plan, you plan to fail.
76 traders viewing now