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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

  • #37,181
  • Feb 20, 2018 8:57am Feb 20, 2018 8:57am
Short on Long Term
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  • #37,182
  • Feb 20, 2018 9:24am Feb 20, 2018 9:24am
Felt not good with my entries. No clear view, so prefer to stop before I start to do completely crap things (+93 ticks)
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  • #37,183
  • Feb 20, 2018 9:39am Feb 20, 2018 9:39am
SHort On BE
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  • #37,184
  • Feb 20, 2018 10:21am Feb 20, 2018 10:21am
Today was a very bad trading day for me almost all my trades has a element of fear in it, it seems the more i gain i more fearful i am of losing. Does anyone have a solution for that?

Trade 1: 89T 1 to 1 to the downside completion Result: +14(protected on fib 50 of the swing)
Trade 2: 89T Structure on the downside + R:R was in our favour Result: -16
Trade 3: 89T 1 to 1 completion on the slightly longer term Result: +21(protected too early other would have hit TP)
Trade 4: 89T 1 to 1 completion on the upside plus structure on the left Result: +1 (fear got the better of me)

Net Result: +20
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  • #37,185
  • Feb 20, 2018 10:42am Feb 20, 2018 10:42am
Quoting Aluunatic
Today was a very bad trading day for me almost all my trades has a element of fear in it, it seems the more i gain i more fearful i am of losing. Does anyone have a solution for that? Trade 1: 89T 1 to 1 to the downside completion Result: +14(protected on fib 50 of the swing) Trade 2: 89T Structure on the downside + R:R was in our favour Result: -16 Trade 3: 89T 1 to 1 completion on the slightly longer term Result: +21(protected too early other would have hit TP) Trade 4: 89T 1 to 1 completion on the upside plus structure on the left Result: +1...

I am still learning from Mr. Pip.... One of the things that he mentions often on his life trading sessions is situational awareness and don't focus on PnL. He says focus on the rules and keep it mechanical. He also, says to not take a trade where the Risk Reward is too expensive for an individual's account. In my opinion... as long as you are not over leveraging and you have gained Mr. Pip's skills the way he has been teaching us, then you will know that 70% of your trades will work out and that your winners will erase your losers.

You need to ask your self of the trade has met the rules.. Structure Analysis, Ratio Confluence, and harmonics in an area of interest....and to have an expectation... and use bar by bar to help time your entries. The more you watch Mr. Pip's videos and the comments and questions that he answers for us students of this skill, the better you will become. Remember, that Mr. Pip traded for many years and many times felt like giving up. However, he realized that if others can do it than he can do it too. And that he isn't a quitter. So, if you are worried... I would suggest demo trading until your skills get better. I am demo trading as well. I am going over Mr. Pip's videos for the second time on some and the 4th or 5th time on others. Each time I watch those videos, I go practice it on my charts. This week, I decided to stop being lazy and start taking notes.. ha ha ha. But Mr. Pip also posted his trade plan on this thread. It is very insightful into how he uses his rules to be fearless in this market. Anyways...we are in the same boat. Practicing correctly builds the correct skills. With the correct skills comes confidence. And Confidence keeps fear in check. You can do it!
Luck has no place in trading. Leave that for the poker table.
  • #37,186
  • Feb 20, 2018 11:15am Feb 20, 2018 11:15am
Quoting Pair-me-up
{quote} I am still learning from Mr. Pip.... One of the things that he mentions often on his life trading sessions is situational awareness and don't focus on PnL. He says focus on the rules and keep it mechanical. He also, says to not take a trade where the Risk Reward is too expensive for an individual's account. In my opinion... as long as you are not over leveraging and you have gained Mr. Pip's skills the way he has been teaching us, then you will know that 70% of your trades will work out and that your winners will erase your losers. You need...
Easier said than done, especially with these big swings. Are you ready to give +100 back?, if your plan says at that point "test of structure, BE +2". OK, you can trail somehow, but where do you start and when do you stop if there is still a long road to target.
  • #37,187
  • Feb 20, 2018 11:40am Feb 20, 2018 11:40am
Back on to demo account for me. Trade 1 for today - Long YM - 89 tick
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  • #37,188
  • Edited 12:22pm Feb 20, 2018 11:51am | Edited 12:22pm
Quoting PeteH
Back on to demo account for me. Trade 1 for today - Long YM - 89 tick {image}
same here, a bit late on entry as found it after the fact - green arrow on chart

Edit: moved to BE+2
Edit: stopped out at BE+0
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  • #37,189
  • Feb 20, 2018 12:08pm Feb 20, 2018 12:08pm
Quoting suirad0
{quote} same here, a bit late on entry as found it after the fact - green arrow on chart Edit: moved to BE+2 {image}
I didn't move to BE and stopped out at -39
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  • #37,190
  • Feb 20, 2018 1:16pm Feb 20, 2018 1:16pm
Trade 2 NQ Short +19.25 (which is +77 pips on YM)
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  • #37,191
  • Feb 20, 2018 1:22pm Feb 20, 2018 1:22pm
My first trade of the day +50 pips!

Had a "feeling that price may reverse near the highs on this chart, but I don't trade feelings anymore . It would have been a winner but in reality a loser as I would not have been trading my rules!!

So waited for a break of structure which happened at the red rectangle, then I was looking for a correction. Price slowed around the 25060 area but did not give a correction so no entry there. Dropped a little lower then corrected to the 38.2% so took my trade from A with SL around the 25150 area. Rode the pain train for a little bit then price turned (B was a possible 2nd entry but I didn't take as I was in with a full position size). Protected at BE at structure then trailed when it was getting close to 1:1 and taken out with 50 pips.

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  • #37,192
  • Feb 20, 2018 1:42pm Feb 20, 2018 1:42pm
Just wanted to share something I was thinking about today at work, yes if you are wondering I am working hard and find myself day dreaming about trading

So, not sure if people do this already but I would encourage everyone who is still learning (me included) to review your trades EVERY day. Check to see if you could have done better and most importantly, have you followed your rules?

I think this is very important, especially on winning days. I know I have done, many times in the past, traded against my rules and totally with a gut feel and basically got lucky by walking away with a win. This is probably one of the worst things that can happen when learning, let me explain why.

If you trade using emotion and win then this is allowing your brain to assign positivity to bad trading practice and encouraging that bad practice for the future. I believe this is what can be the sticking point for a lot of people. I know I have done this in the past (probably many times) and it undoubtedly impacted my future trades, resulting in my going with gut or emotion but then losing. It always seems the case that you lose more on these occasions than you probably gained when going against rules.

Another good thing that comes from this is it also encourages best practice. Say you have a winning day, you already feel good about yourself. Then you sit down and look at the trades and you find you have followed your rules on every trade. You can then see how well your rules work and in fact reinforcing good practice to help you in your future trades.


Hope some of you find this useful.
  • #37,193
  • Feb 20, 2018 1:52pm Feb 20, 2018 1:52pm
Quoting PipTrendz
Just wanted to share something I was thinking about today at work, yes if you are wondering I am working hard and find myself day dreaming about trading So, not sure if people do this already but I would encourage everyone who is still learning (me included) to review your trades EVERY day. Check to see if you could have done better and most importantly, have you followed your rules? I think this is very important, especially on winning days. I know I have done, many times in the past, traded against my rules and totally with a gut feel and...
Well done on your trade and Thanks for the tips. Will bear in mind in the future.
  • #37,194
  • Feb 20, 2018 1:57pm Feb 20, 2018 1:57pm
Quoting Aluunatic
Today was a very bad trading day for me almost all my trades has a element of fear in it, it seems the more i gain i more fearful i am of losing. Does anyone have a solution for that? Trade 1: 89T 1 to 1 to the downside completion Result: +14(protected on fib 50 of the swing) Trade 2: 89T Structure on the downside + R:R was in our favour Result: -16 Trade 3: 89T 1 to 1 completion on the slightly longer term Result: +21(protected too early other would have hit TP) Trade 4: 89T 1 to 1 completion on the upside plus structure on the left Result: +1...
I know what you mean, I have a similar issue when I start to increase my position size it seems to allow more emotion into my trading. I am trying to grow my account more compared to position size. For example, allowing myself only to trade 1 contract per $2,500 and not 1 contract poer $1,000 of capital (in the UK so changed to US but hope you get my meaning).
  • #37,195
  • Feb 20, 2018 2:06pm Feb 20, 2018 2:06pm
Quoting PipTrendz
Just wanted to share something I was thinking about today at work, yes if you are wondering I am working hard and find myself day dreaming about trading So, not sure if people do this already but I would encourage everyone who is still learning (me included) to review your trades EVERY day. Check to see if you could have done better and most importantly, have you followed your rules? I think this is very important, especially on winning days. I know I have done, many times in the past, traded against my rules and totally with a gut feel and...
What I always do after a tradingsession is write down notes in my trade journal like: what did I see, which confluence was in my AOI, did I follow my tradeplan, what was good, what was a mistake, what did I mis etc. I do this for every specific trade and after a while you'll see some bad habits repeating themselves and when you notice that you can work on it. I highlight the mistakes in red and in the beginning of my tradejournal You see a lot of red text but the red is dissapearing the last couple of trades. So I'm following my tradeplan better and better
  • #37,196
  • Edited 4:22pm Feb 20, 2018 2:06pm | Edited 4:22pm
Second and last trade of the day for me.

OF still in favour of the bears out there so only looking for shorts. Entered at the arrow after a good correction to structure and a very strong rotation. Price went for me, then against me, then for me again. Protected to BE at structure and then when price hit the 127 ext I started trailing as this was getting close the the 1;1. Got taken out at +51 pips.

Up 101 pips on the day, time to chill for the evening (and probably watch some more of Damian's videos later #obsessed).

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Edit: Left quite a bit on the table there, maybe I managed too tight at the end of the trade? Thoughts? I was considering trailing the stop higher and allowing it to go back up to structure (at about 30 pips profit and 10-12 above where price corrected to).

Guess hindsight is a good thing and still relatively okay with how I played it but know I have a tendency to move my SL a little soon, either to BE before structure or trailing too tight/soon. Feel free to give some feedback.

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  • #37,197
  • Feb 20, 2018 7:53pm Feb 20, 2018 7:53pm
Quoting Aluunatic
Today was a very bad trading day for me almost all my trades has a element of fear in it, it seems the more i gain i more fearful i am of losing. Does anyone have a solution for that? Trade 1: 89T 1 to 1 to the downside completion Result: +14(protected on fib 50 of the swing) Trade 2: 89T Structure on the downside + R:R was in our favour Result: -16 Trade 3: 89T 1 to 1 completion on the slightly longer term Result: +21(protected too early other would have hit TP) Trade 4: 89T 1 to 1 completion on the upside plus structure on the left Result: +1...
This is my old post. I've been struggling with the same issues and still am to some extent. You should try to distance yourself from a single trade and look at the bigger picture. Do your rules give you a positive expectancy? If they do, then you just have stick with them and suck on it during dd's.

Basically you have to start thinking in the series of trades. My stop loss is a certain percentage of my account and I change my position size (a lot easier to do in forex than while trading futures, at least with small accounts), so I always know what my worst case scenario is for a certain amount of trades and I'm comfortable with it. I still get too involved with the trades I take, but I'm progressing.

Oh! and it really helps to have your SL in a resposible location, a location that would change your view of the market's direction if reached. Won't guarantee wins and won't guarantee that the price won't turn straight after your SL and create a new NSH or NSL, but it helps a lot with sticking with the rules. And trade a smaller size (if you can) until you get your confidence back, something you can calmly observe without twitchy fingers and fear or greed. Don't worry about missed $ in case you happen to be profitable, this is a marathon and you need to improve your mind-game before you can expect any long term returns. Same goes for me!
  • #37,198
  • Feb 20, 2018 7:56pm Feb 20, 2018 7:56pm
I've noticed that trading against your plan or system just fuels the fear, so find the discipline to stick with your plan and see how that pans out. And again don't worry about a missed winner, if it was outside of your plan, it was a winner this time, but will it be a winner next time? Or how many times would it be a winner out of 10, out of 100?
  • #37,199
  • Feb 20, 2018 9:52pm Feb 20, 2018 9:52pm
Quoting Happy_Sniper
I've noticed that trading against your plan or system just fuels the fear, so find the discipline to stick with your plan and see how that pans out. And again don't worry about a missed winner, if it was outside of your plan, it was a winner this time, but will it be a winner next time? Or how many times would it be a winner out of 10, out of 100?
Well said, today is my 2nd worst loss of the year, doesn't really bother me. I was pretty happy with all the trades I took.

YM
+1,+2,-60,+53,-55,+27,-51,-57
--------------------------------------
Total: -140
  • #37,200
  • Feb 21, 2018 12:50am Feb 21, 2018 12:50am
Quoting Pair-me-up
{quote} I am still learning from Mr. Pip.... One of the things that he mentions often on his life trading sessions is situational awareness and don't focus on PnL. He says focus on the rules and keep it mechanical. He also, says to not take a trade where the Risk Reward is too expensive for an individual's account. In my opinion... as long as you are not over leveraging and you have gained Mr. Pip's skills the way he has been teaching us, then you will know that 70% of your trades will work out and that your winners will erase your losers. You need...

Would be nice if you could show some of your trades.
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