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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

  • #36,901
  • Feb 12, 2018 12:10pm Feb 12, 2018 12:10pm
Quoting 6288monkey
{quote} Hi PipTrendz , can you share to us how to setup a demo NT for YM? i got once get Forex NT , and broker was fxcm ,their price were not " true " . but i do get tick chart , no use if price were not real getting tick chart. and i tried to use the backtest tool but seem complicated for me , i am metatrader user for long time .
Hey monkey,

Just go through the Ninja Trader site and choose futures and then it sets you up a demo for 4 weeks (need a new email after that, so just set up a free one). They then send you login info through Continuum and you are good to go.
  • #36,902
  • Feb 12, 2018 12:16pm Feb 12, 2018 12:16pm
Hello - Sorry to interrupt serious trading!!! Wouw... Everyone successful traders in here Thank you for sharing your success - that's very inspiring.
Here is my homework please have a look... When you have time...
I am mostly concerned about my structure analyses-Please tell me if I am right...!??
The trade idea about abcd pattern and the long bias is just my five cent.'
All the best !
Peter
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Are you profitable? I am not... yet...
  • #36,903
  • Feb 12, 2018 12:38pm Feb 12, 2018 12:38pm
Tough day for me today and one to forget

A mix of later entries not waiting for complex corrections to finish and got taken out at BE when expectations went on to make targets.

Ended up: -165

Messy chart and a number of mistakes.

7 Losing Trades
3 Winning Trades
5 Break Evens

Losers:
-110, -41, -18, -35, -11, -57, -37

Winners:
+30, +43,+71
Attached Image (click to enlarge)
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  • #36,904
  • Feb 12, 2018 12:42pm Feb 12, 2018 12:42pm
Quoting Sheeep44
{quote} How much entries on average do you have on the 1597 tick chart?
Average about a trade every other day or so. I don’t enter on Friday’s on the longer term unless I screw up
If you fail to plan, you plan to fail.
  • #36,905
  • Feb 12, 2018 12:46pm Feb 12, 2018 12:46pm
Quoting PeteH
Tough day for me today and one to forget A mix of later entries not waiting for complex corrections to finish and got taken out at BE when expectations went on to make targets. Ended up: -165 Messy chart and a number of mistakes. 7 Losing Trades 3 Winning Trades 5 Break Evens Losers: -110, -41, -18, -35, -11, -57, -37 Winners: +30, +43,+71 {image}
Shake it off Pete
If you fail to plan, you plan to fail.
  • #36,906
  • Feb 12, 2018 12:49pm Feb 12, 2018 12:49pm
Quoting Mr. Pip
{quote} Shake it off Pete
Will do. Well done on your longer term trade. Very impressive.
  • #36,907
  • Feb 12, 2018 1:42pm Feb 12, 2018 1:42pm
Quoting PeteH
{quote} Will do. Well done on your longer term trade. Very impressive.
Thanks got to see if it hit TP will update you all
If you fail to plan, you plan to fail.
  • #36,908
  • Edited 2:07pm Feb 12, 2018 1:50pm | Edited 2:07pm
Quoting Sheeep44
{quote} last month you mean
Yes luckily for us there are only 28 days in february
veni vidi vici
  • #36,909
  • Feb 12, 2018 2:06pm Feb 12, 2018 2:06pm
Quoting Mr. Pip
P/L update {image}
Awesome trading as per

My day was bad really, only -10 pips but I know my trades did not follow my rules, if I did then I would have been up a good amount!!

Trade 1 - Good entry at structure and in the golden zone of the last swing. My issue here was trade management. I seem to struggle waiting for a test of structure (around the 24610 area) before going to BE, instead I moved to BE and trailed aggressively. I really hate giving those pips back to the market, something I will need to get to grips with. After I was taken out price dances around in a complex correction and then when it hit structure for the first time it didn't look back. With this I left around 100 pips on the table, not only that but my second (stupid trade would not have happened either).

Trade 2 - Not sure what I was thinking here really. This was against OF and I didn't have much room to protect my trade either. I think I carried my mindset from the first trade, thinking that the market was changing direction?? There was nothing to indicate this really, no NSL, hadn't even retested. Placed stop about 10 pips above structure (about the only thing I did right!) which was taken out. -80

Trade 3 - So still a little mad with myself I calmed myself down, reviewed my mistakes and learned from them quick!! Entered at structure, in line with OF, there was a strong bear candle but the approach my the bears to this area had slowed before this and the rotation candle was strong mostly with a small amount of selling pressure. Got to BE, then trailed as was about to finish my days trading. Got +45 here.

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  • #36,910
  • Feb 12, 2018 2:18pm Feb 12, 2018 2:18pm
Took the following trades on YM: +52; +14; +92; +68. However, will not do this exercise again. At point "A", I reversed the entry.
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  • #36,911
  • Feb 12, 2018 2:35pm Feb 12, 2018 2:35pm
Quoting evocpr19
Took the following trades on YM: +52; +14; +92; +68. However, will not do this exercise again. At point "A", I reversed the entry. {image}
Interesting seeing that moving average on there. You're miles ahead of that thing!
  • #36,912
  • Feb 12, 2018 3:16pm Feb 12, 2018 3:16pm
Quoting AzizLight
{quote} Interesting seeing that moving average on there. You're miles ahead of that thing!

The MA is not of use, it is an old habbit to have it.
  • #36,913
  • Feb 12, 2018 3:27pm Feb 12, 2018 3:27pm
Quoting PipTrendz
{quote} Trade 1 - Good entry at structure and in the golden zone of the last swing. My issue here was trade management. I seem to struggle waiting for a test of structure (around the 24610 area) before going to BE, instead I moved to BE and trailed aggressively. I really hate giving those pips back to the market, something I will need to get to grips with. After I was taken out price dances around in a complex correction and then when it hit structure for the first time it didn't look back. With this I left around 100 pips on the table, not only...
Hi PipTrendz,

I have the same problem sometimes of not wanting to give back points and I think I've come up with some rules to try to avoid it. I'll share them here but if you find a problem with them or otherwise disagree please let me know as I'm still trying to figure all of this out and welcome correction.

What I've been doing is copying the fib I've run for the main swing and shifting it up to where the zero point is at the bottom of the swing my trade is on. This basically makes a new fib based off the start of the new swing with the top line at the 1:1 completion. Once price closes above the 38.2 that's when I move to B/E (or put the S/L just below the 78.6. If it's close I'll try to get myself into a free trade).

In this case the 1:1 top of fib basically matched the 127 on the fib extension so I trail below each little swing candle until a new high is made then run a little fib and move S/L to just under the 38.2 of each swing as they go up to trail tightly.

Anyway, you may already be doing something like this. I'm hoping that having a definite line where I can move to B/E when price breaks through will help me to avoid getting antsy and taken out too early.

Again, if this is completely a bad idea I hope someone out there who is better at this than I am...which is pretty much everyone...will set me straight.

Thanks!
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  • #36,914
  • Feb 12, 2018 4:18pm Feb 12, 2018 4:18pm
I will catch up later on the thread but I wanted to post the two longer term trades from today. 385 points on 30 contracts.
Attached Image (click to enlarge)
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If you fail to plan, you plan to fail.
  • #36,915
  • Feb 12, 2018 5:51pm Feb 12, 2018 5:51pm
Quoting AzizLight
{quote} Hi PipTrendz, I have the same problem sometimes of not wanting to give back points and I think I've come up with some rules to try to avoid it. I'll share them here but if you find a problem with them or otherwise disagree please let me know as I'm still trying to figure all of this out and welcome correction. What I've been doing is copying the fib I've run for the main swing and shifting it up to where the zero point is at the bottom of the swing my trade is on. This basically makes a new fib based off the start of the new swing with the...
Hey Aziz,

Thanks for your ideas. Doesn't sound too bad of an idea, guess we need to find something that works. I think my issue is not the rules, it is sticking to them!! I know when I should move SL but I think I get a little panicky during a live trade.

I have just reviewed my trades for the day for the last hour and looking at what I should have been doing during the trades, e.g. using my Fib extension properly seems to be something I am missing. I should be using this better for both entries and exits. Plus a little more patience is needed really, just some things I need to learn. I can tell that I haven't traded for a while, so a bit of time, giving myself a talking to a few times and I am sure I will slip back into the right mentality and be firing on all cylinders!!

Also, Damian, again that long term trade was quality!! Took virtually the full swing there!!
  • #36,916
  • Feb 12, 2018 6:51pm Feb 12, 2018 6:51pm
Quoting Pjort
Hello - Sorry to interrupt serious trading!!! Wouw... Everyone successful traders in here Thank you for sharing your success - that's very inspiring. Here is my homework please have a look... When you have time... I am mostly concerned about my structure analyses-Please tell me if I am right...!?? The trade idea about abcd pattern and the long bias is just my five cent.' All the best ! Peter {image}
Hello Pjort the is a good representation of the short term order flow and your interpretation of the longer term and what the market is working towards. Nice work!
If you fail to plan, you plan to fail.
  • #36,917
  • Feb 12, 2018 6:52pm Feb 12, 2018 6:52pm
Quoting PipTrendz
{quote} Hey Aziz, Thanks for your ideas. Doesn't sound too bad of an idea, guess we need to find something that works. I think my issue is not the rules, it is sticking to them!! I know when I should move SL but I think I get a little panicky during a live trade. I have just reviewed my trades for the day for the last hour and looking at what I should have been doing during the trades, e.g. using my Fib extension properly seems to be something I am missing. I should be using this better for both entries and exits. Plus a little more patience is...
Thanks! having patience and a harmonic target helps you achieve trades like that more often than not.
If you fail to plan, you plan to fail.
  • #36,918
  • Feb 12, 2018 7:44pm Feb 12, 2018 7:44pm
Quoting Mr. Pip
I will catch up later on the thread but I wanted to post the two longer term trades from today. 385 points on 30 contracts. {image}
Another beautifully executed trade, Mr Pip!

Just wanted to check - you took another shot at the long because you saw the weakening of the bears via the momentum coming down into your AOI? Moreover your AOI was backed by good structure, RR was extremely good to your advantage and it was a 1 to 1 completion at your 2nd point of entry. Basically a solid SOS3 entry? Did I read it correctly?
  • #36,919
  • Feb 13, 2018 7:03am Feb 13, 2018 7:03am
Explanation on the chart.

too much confluence so the chart looks messy.
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"Luck is when opportunity meets preparation"
  • #36,920
  • Feb 13, 2018 7:05am Feb 13, 2018 7:05am
Quoting AzizLight
{quote} Hi PipTrendz, I have the same problem sometimes of not wanting to give back points and I think I've come up with some rules to try to avoid it. I'll share them here but if you find a problem with them or otherwise disagree please let me know as I'm still trying to figure all of this out and welcome correction. What I've been doing is copying the fib I've run for the main swing and shifting it up to where the zero point is at the bottom of the swing my trade is on. This basically makes a new fib based off the start of the new swing with the...
Another option I've seen is to draw the fib on the swing you are trading as if your move is a correction and move your SL to break even when price reaches the 78.6. It is probably in the same general area as how you are doing it, but if it is an expectation change happening while in your trade, the 78.6 would be a good turning point for it going lower. Food for thought. Could protect your trade in the event a NSH fails.
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