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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

  • #37,081
  • Feb 15, 2018 10:20am Feb 15, 2018 10:20am
Quoting bmdenton23
{quote} Same here, trading the bigger swing now.
Wow! I've got some experience to gain.
  • #37,082
  • Feb 15, 2018 10:21am Feb 15, 2018 10:21am
Quoting Lawnman
{quote} Badass!
Haven't daytraded in a couple of days, feels good to get back in the swing of things even if its just for 2 days.
"Luck is when opportunity meets preparation"
  • #37,083
  • Feb 15, 2018 10:23am Feb 15, 2018 10:23am
Quoting Lawnman
{quote}
Not looking good!
Wow! I've got some experience to gain.
  • #37,084
  • Feb 15, 2018 10:30am Feb 15, 2018 10:30am
Quoting Lawnman
{quote} Not looking good!
SL -58.

Today -20, +58, -35, -58
total -55 (I suck!)
Will stick around for a little longer.
Wow! I've got some experience to gain.
  • #37,085
  • Edited 10:43am Feb 15, 2018 10:33am | Edited 10:43am
Quoting Lawnman
{quote} SL -58. Today -20, +58, -35, -58 total -55 (I suck!) Will stick around for a little longer.
I'm still hanging in there, stop loss is at 970....and I'm out.
  • #37,086
  • Feb 15, 2018 10:35am Feb 15, 2018 10:35am
Quoting Mr. Pip
{quote} Well done!

Hi Mr.Pip. I have a few questions. Last night I went over lesson 1-7 on you’re YT channel again and wrote down some questions I hope you don’t mind me asking.

So when a NSH or NSL is formed the retracement for that swing is always a deep correction? What fib level do you consider a deep retracement? The 78?

Second question. When a HH or LL is formed and creates only a 1:1 or a bit short of 1:1 you would expect for it to make a deep correction?
To go along with that. When a HH or LL is formed but goes much more past the 1:1 I would expect a short correction usually at the 32 fib. Now I believe you don’t take 32 fib retracements but if you were expecting for price to make a small correction would you take this trade?
  • #37,087
  • Feb 15, 2018 10:36am Feb 15, 2018 10:36am
Quoting bmdenton23
{quote} I'm still hanging in there, stop loss is at 970.
Tapped me out to the tick.
Wow! I've got some experience to gain.
  • #37,088
  • Feb 15, 2018 10:48am Feb 15, 2018 10:48am
+1,75 point on the ES. Total of the day equivalant of YM = around 115-120 points.
"Luck is when opportunity meets preparation"
  • #37,089
  • Feb 15, 2018 10:49am Feb 15, 2018 10:49am
Quoting Lawnman
{quote} SL -58. Today -20, +58, -35, -58 total -55 (I suck!) Will stick around for a little longer.
Mate I was wondering, are your stops not too big, if you average around 1% every 20 ticks of stop, that is 3% per trade, that can get you down very quickly, not saying you should do one or the other, just wondering buddy, don't want you to blow up.
"Luck is when opportunity meets preparation"
  • #37,090
  • Feb 15, 2018 10:53am Feb 15, 2018 10:53am
Quoting Sheeep44
{quote} Mate I was wondering, are your stops not too big, if you average around 1% every 20 ticks of stop, that is 3% per trade, that can get you down very quickly, not saying you should do one or the other, just wondering buddy, don't want you to blow up.
Thank you for your concern. I have gone back to demo only, so my "account" is plenty big. I just want to get a handle on the process in live market. I obviously have a long way to go.
Wow! I've got some experience to gain.
  • #37,091
  • Feb 15, 2018 10:59am Feb 15, 2018 10:59am
Quoting Lawnman
{quote} SL -58. Today -20, +58, -35, -58 total -55 (I suck!) Will stick around for a little longer.
Hi Lawnman,

If it's any consolation I hit my stop loss for the day a little earlier and was on a similar short on the last one to lose 48 points. My trades today were:

-45, -2, +4, +9, -41, -43, -55, -34, -48 = -255
6 x losers
3 x break even
0 x winners

I'm going to limit stops to 40 max and not take trades if setups result in possibly worse losses. Monday was poor too.
  • #37,092
  • Feb 15, 2018 10:59am Feb 15, 2018 10:59am
I found something I have a question about. Maybe its been covered.

What to do at the 127%?

So lets say we have a NSH and a pullback to 61.8 and you enter after a rotation. Move to BE at test of structure and it goes higher to the 127% extension. So I could take profit here, but I might miss a runner.

My own strategy I'm testing has been to take half profit at structure and trail the other half (requires multiple contracts). The issue I see is if it extends to the 127% and rotates down, I should be expecting a pullback to 61.8 or so and another NSH. So my trail on my second half would have to remain below structure so it has room to pullback for a LH and then a NSH. This could be a new trade as well.

My initial thought is to close second half if its a strong rotation off the 127. I can reenter long after another pullback. I think if I left my trail with enough room for the pullback, I could be screwing my R:R. I could be getting 1 contract at structure and one less than structure. So a winner will not offset a loser when both contracts hit SL at times.

I have somewhat of an example from today.
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  • #37,093
  • Feb 15, 2018 11:09am Feb 15, 2018 11:09am
Quoting PeteH
{quote} Hi Lawnman, If it's any consolation I hit my stop loss for the day a little earlier and was on a similar short on the last one to lose 48 points. My trades today were: -45, -2, +4, +9, -41, -43, -55, -34, -48 = -255 6 x losers 3 x break even 0 x winners I'm going to limit stops to 40 max and not take trades if setups result in possibly worse losses. Monday was poor too.
I should probably do the same, it was easier to trade smaller before the volatility went up (swings are bigger now). I am also trying to find a balance between chickening out and overtrading.
Wow! I've got some experience to gain.
  • #37,094
  • Edited 12:57pm Feb 15, 2018 11:18am | Edited 12:57pm
2 losses and 1 win today
Total = -12
First trade I was thinking it was going to go against me so tightened my SL before it did for -11
Second was an expectation failure but I should have predicted it based on where it was on the longer term -26
Third was a long that got to BE and then locked in 25. It took me out and then went on to expectation +25

edit: 1 more trade for +40
+28 on the day
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  • #37,095
  • Feb 15, 2018 1:41pm Feb 15, 2018 1:41pm
Quoting csternfx
I found something I have a question about. Maybe its been covered. What to do at the 127%? So lets say we have a NSH and a pullback to 61.8 and you enter after a rotation. Move to BE at test of structure and it goes higher to the 127% extension. So I could take profit here, but I might miss a runner. My own strategy I'm testing has been to take half profit at structure and trail the other half (requires multiple contracts). The issue I see is if it extends to the 127% and rotates down, I should be expecting a pullback to 61.8 or so and another NSH....
I don't think there's any right/wrong answers here. In a trending market, I almost never take profit using a take profit and almost always exit my trade trailing which means 2/3rds of the time giving back some points. That other 1/3rd of the time though when the market runs, can easily make up for the points given back trailing. If I take profit, say at the 127, which is rare, it's because of the lack of momentum approaching that target.
  • #37,096
  • Feb 15, 2018 1:48pm Feb 15, 2018 1:48pm
Quoting PeteH
{quote} Hi Lawnman, If it's any consolation I hit my stop loss for the day a little earlier and was on a similar short on the last one to lose 48 points. My trades today were: -45, -2, +4, +9, -41, -43, -55, -34, -48 = -255 6 x losers 3 x break even 0 x winners I'm going to limit stops to 40 max and not take trades if setups result in possibly worse losses. Monday was poor too.
Sorry to hear. Could you please post a chart with your entries?
  • #37,097
  • Feb 15, 2018 1:50pm Feb 15, 2018 1:50pm
I would like some critique of my trades today. Be honest, I can take it. Lines of the same color represent main swing and entry point. Thank you in advance.

1. Green swing, immediate OF, saw rotation at 100% retrace, was a bit impulsive honestly. -20

2. Yellow swing, immediate OF, NSL, rotation near structure. +58

3. Red swing, immediate OF, NSH, rotation @ .618, BE at structure. +3

4.White swing, immediate OF, NSL, strong rotation @ .886, bulls weakened some. -35

5.Blue swing, intermediate OF, NSL, strong rotation in AOI @.786 with harmonic considerations in teal and olive. -58
Attached Image (click to enlarge)
Click to Enlarge Name: YM 03-18 (233 Tick) 2018_02_15-5.png Size: 75 KB
Wow! I've got some experience to gain.
  • #37,098
  • Feb 15, 2018 1:51pm Feb 15, 2018 1:51pm
Quoting bmdenton23
{quote} I don't think there's any right/wrong answers here. In a trending market, I almost never take profit using a take profit and almost always exit my trade trailing which means 2/3rds of the time giving back some points. That other 1/3rd of the time though when the market runs, can easily make up for the points given back trailing. If I take profit, say at the 127, which is rare, it's because of the lack of momentum approaching that target.
I think I would agree with you. To be honest, taking half at structure is more of an emotional crutch at the moment. Second half is BE so a win is guaranteed at that point. Just wasn't sure if anybody looked at the 127. The example I posted had a clear rejection implying it could go lower. However, expectation is still pullback and NSH so I could have left my second half of the trade at BE. It just makes the trail a little harder because the pullback can erase decision candles.
  • #37,099
  • Feb 15, 2018 2:06pm Feb 15, 2018 2:06pm
Quoting Lawnman
I would like some critique of my trades today. Be honest, I can take it. Lines of the same color represent main swing and entry point. Thank you in advance. 1. Green swing, immediate OF, saw rotation at 100% retrace, was a bit impulsive honestly. -20 2. Yellow swing, immediate OF, NSL, rotation near structure. +58 3. Red swing, immediate OF, NSH, rotation @ .618, BE at structure. +3 4.White swing, immediate OF, NSL, strong rotation @ .886, bulls weakened some. -35 5.Blue swing, intermediate OF, NSL, strong rotation in AOI @.786 with harmonic considerations...
Lawnman that looks fine to me, you know which order flow you're trading and keeping your expectations in line. My only comment would be when you're trading that immediate order flow, sometimes a 233T rotation can be too costly. I try to keep my tick chart correlated to the size of the swing I'm expecting and that's ever changing. I want to see proportionate rotation candles to make my decisions.
  • #37,100
  • Feb 15, 2018 2:06pm Feb 15, 2018 2:06pm
YM +25, -38, -35, +1, +44

-3 for the day

I get into trouble every time I try to predict a market turn without waiting for confirmation. Many times I'm right but can't afford the stop loss I SHOULD be using in that situation and get taken out trying to be cute with a small stop below or above the 78 instead of the whole swing. So I really need to focus on waiting for price to give me a short term expectation failure before trying to trade what I'm just guessing is longer term exhaustion. Apparently I have to learn from this a few dozen times before it finally becomes ingrained in my thick skull.

Still making mistakes but getting better I think. Man, I'm stubborn.

Hope everyone has had a good day!
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