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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

  • #36,941
  • Feb 13, 2018 1:37pm Feb 13, 2018 1:37pm
Today was almost a great day. Entered 4 long trades
The first 3 closed at BE+5 after being up 30-60 points.
So the fourth I decided it would be a good idea to trail more aggressively so that I'd have a positive day (which is breaking a rule).
It worked great, I thought as I closed +28 on that one.
It ended up going up another 150 points immediately after that - as I'd been expecting all day...
Up +42 for the day so will try not to complain
Live and learn....
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  • #36,942
  • Feb 13, 2018 1:41pm Feb 13, 2018 1:41pm
Quoting PipJr
Today was almost a great day. Entered 4 long trades The first 3 closed at BE+5 after being up 30-60 points. So the fourth I decided it would be a good idea to trail more aggressively so that I'd have a positive day (which is breaking a rule). It worked great, I thought as I closed +28 on that one. It ended up going up another 150 points immediately after that - as I'd been expecting all day... Up +42 for the day so will try not to complain Live and learn.... {image}
Basically the same thing for me today PipJr, except I just decided not to even take that last trade that ended up running. I did take some profit at structure today, made that decision after the way the market behaved yesterday.
  • #36,943
  • Feb 13, 2018 1:45pm Feb 13, 2018 1:45pm
Quoting PipJr
Today was almost a great day. Entered 4 long trades The first 3 closed at BE+5 after being up 30-60 points. So the fourth I decided it would be a good idea to trail more aggressively so that I'd have a positive day (which is breaking a rule). It worked great, I thought as I closed +28 on that one. It ended up going up another 150 points immediately after that - as I'd been expecting all day... Up +42 for the day so will try not to complain Live and learn.... {image}

Quick question - what are the orange rectangle on the chart? Demand areas or a fib area? I’ve been looking through the thread trying to find the rules but haven’t had much luck yet (over 1,000 pages!)
thanks
  • #36,944
  • Feb 13, 2018 1:46pm Feb 13, 2018 1:46pm
Quoting evocpr19
My massacre today on YM: {image}
get rekt. very nice
  • #36,945
  • Feb 13, 2018 1:58pm Feb 13, 2018 1:58pm
Quoting jack411
{quote} Quick question - what are the orange rectangle on the chart? Demand areas or a fib area? I’ve been looking through the thread trying to find the rules but haven’t had much luck yet (over 1,000 pages!) thanks
Those were just areas of structure I hadn't yet erased to mark my areas of interest at the time.
  • #36,946
  • Feb 13, 2018 2:04pm Feb 13, 2018 2:04pm
Quoting PipJr
{quote} Those were just areas of structure I hadn't yet erased to mark my areas of interest at the time.

How are you guys defining “areas of structure”? What does that mean?

Ehh, I have a lot of reading to do great thread though. Looks like lots of participation and good trading. I don’t want to clog up the thread asking the basics. Carry on!
  • #36,947
  • Feb 13, 2018 2:07pm Feb 13, 2018 2:07pm
Short
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  • #36,948
  • Feb 13, 2018 2:11pm Feb 13, 2018 2:11pm
Now on BE, Risk Free Trade
  • #36,949
  • Edited 2:35pm Feb 13, 2018 2:24pm | Edited 2:35pm
Quoting VictorFaria
Now on BE, Risk Free Trade
Took the same and the short before. (+49 and +18; Total for the day +512)
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  • #36,950
  • Feb 13, 2018 2:50pm Feb 13, 2018 2:50pm
Quoting jack411
{quote} How are you guys defining “areas of structure”? What does that mean? Ehh, I have a lot of reading to do great thread though. Looks like lots of participation and good trading. I don’t want to clog up the thread asking the basics. Carry on!
Hi Jack,
I learned structure analysis from Mr. Pips videos on his youtube channel. Have you watched those? They will describe it much better than I ever could.
  • #36,951
  • Feb 13, 2018 2:52pm Feb 13, 2018 2:52pm
Quoting PipJr
{quote} Hi Jack, I learned structure analysis from Mr. Pips videos on his youtube channel. Have you watched those? They will describe it much better than I ever could.

Perfect, I’ll check those out. Thanks
  • #36,952
  • Feb 13, 2018 8:20pm Feb 13, 2018 8:20pm
Quoting evocpr19
{quote} Took the same and the short before. (+49 and +18; Total for the day +512) {image}
Hi Evo. May I know your reasoning for taking the short with the +49 Pips? The only facts I can gather is PA had acheived 200% extension and into an area of structure on the longer term OF.
Thanks and great trading as usual!
  • #36,953
  • Feb 14, 2018 12:35am Feb 14, 2018 12:35am
Quoting evocpr19
{quote} Took the same and the short before. (+49 and +18; Total for the day +512) {image}

Hi evocpr19 , i believe you are trading you own way which could not be understand by us here , what was your win rate , you seem to has very little to no loss?

and your losses were small , yet i can see certain trade goes against you quite far but not stop out yet.
  • #36,954
  • Feb 14, 2018 12:58am Feb 14, 2018 12:58am
Quoting Milfortra
{quote} Hi Evo. May I know your reasoning for taking the short with the +49 Pips? The only facts I can gather is PA had acheived 200% extension and into an area of structure on the longer term OF. Thanks and great trading as usual!
I do not have the chart in front of me, but since I expected all day the big up move and the fact that I took profit much earlier on the up move. I thought that price will have difficulties to achieve this area (between my lines). Hence, once price achieved that, bears would step in. It was spontaneous (wanted initially to close NT). I took the short on the expectation failure and protected early. Once I saw that bulls are stepping in, I took profit.
  • #36,955
  • Edited 3:55am Feb 14, 2018 1:06am | Edited 3:55am
Quoting 6288monkey
{quote} Hi evocpr19 , i believe you are trading you own way which could not be understand by us here , what was your win rate , you seem to has very little to no loss? and your losses were small , yet i can see certain trade goes against you quite far but not stop out yet.
I use also the principles of Mr. Pip. Maybe, I modified over time few things, but this would be more unconsciously. If others are also of the opinion that what I am doing is not compatible with Damians teaching, I will stop posting my trades, because I do not want to confuse people.

I was expecting all day that big up move. When I enter early, I still have to place my SL at the right place. In order to compensate, I am also willing to scale in to place my trade in a more favourable state. Furthermore, with fast moving price you get sometimes a bad fill (brain process until reaches fingers). Furthermore, I need 10 points per trading day and wider targets = also wider stops (how often did price finally achieved your expected target having hit your SL?).

Will look lo my win rate, once in front of my computer.
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  • #36,956
  • Feb 14, 2018 4:12am Feb 14, 2018 4:12am
YM trade today: +46
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  • #36,957
  • Feb 14, 2018 4:14am Feb 14, 2018 4:14am
I am in sell GBPUSD
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  • #36,958
  • Feb 14, 2018 5:28am Feb 14, 2018 5:28am
OUT on 127,2 fib with 17 pips
  • #36,959
  • Feb 14, 2018 5:37am Feb 14, 2018 5:37am
Quoting evocpr19
{quote} I use also the principles of Mr. Pip. Maybe, I modified over time few things, but this would be more unconsciously. If others are also of the opinion that what I am doing is not compatible with Damians teaching, I will stop posting my trades, because I do not want to confuse people. I was expecting all day that big up move. When I enter early, I still have to place my SL at the right place. In order to compensate, I am also willing to scale in to place my trade in a more favourable state. Furthermore, with fast moving price you get sometimes...
That's some amazing trading man!
  • #36,960
  • Edited 6:04am Feb 14, 2018 5:39am | Edited 6:04am
Just taken 20 pips from the YM.

My original entry was at structure and in line with OF. Price had corrected slowly in comparison to the last bull swing so took my entry at retest of structure in yellow. Price struggled to make its way up which was not expected so decided to TP at the last high. Slightly against my rules but I had my reasons, price struggling to move up when it shouldn't so indicating price may want to correct further. Plus I have some things to do soon and it seemed like a good place to exit.

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Edit: Had a little more time so took a short term trade, entered at short term structure and got out for another 20 pips before hitting another strong structure area.

Market will no doubt pick up in the US session when I am going out for the day.
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