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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

  • #37,941
  • Mar 5, 2018 3:25pm Mar 5, 2018 3:25pm
Quoting bmdenton23
{quote} Thanks. Yes that is YM only, I trade forex on longer timeframes and trade stocks too, but I only report on the YM on this thread.
Your killin it, keep it up.
Damn The Torpedoes, Full Speed Ahead!
  • #37,942
  • Mar 5, 2018 4:56pm Mar 5, 2018 4:56pm
Quoting Mr. Pip
{quote} Thank you. Feel free to show your charts don't let some comments affect you.
As long as comments do not affect my trading (which did not happen), I do not really care.

I only decided to post less charts. My readiness to help (if I can) others is still there.
  • #37,943
  • Mar 5, 2018 5:31pm Mar 5, 2018 5:31pm
Quoting Mr. Pip
P/L update {image}
Wow you don't half love these long term trades on a Monday!!
  • #37,944
  • Mar 5, 2018 6:07pm Mar 5, 2018 6:07pm
Quoting PeterT
Was 100+ points in loss earlier today. Managed to get some back. Still closing today with -64 The mistake that comes back every time: Protecting too early because of fear. Fear that I might have made a mistake in my analysis. For example, that the longer term OF will correct deeper first. Or I enter at 38.2% with structure but then fear that price will make an ABCD correction and my entry sucks. It is frustrating and fascinating at the same time. Even though I'm convinced that I believe in the system, the fear still creeps up on me during a trade....
I"m by no means doing great so I don't have an expert opinion, but I would dump the 38.2 entries even if there is structure. Your R:R is bad. Not taking a trade is ok too. I used to take those because I saw rotation or something, but they almost always screwed me. I only take 61.8 or 78.6 now. Sometimes I'll take an 88.6 or 100 because the risk is low. Ideally, the best trades to take imo is an abcd correction of the longer term trend. Say if you are looking for an NSH, you enter long after an ABCD correction. Nearly a stress free trade when you find them.
  • #37,945
  • Mar 5, 2018 6:12pm Mar 5, 2018 6:12pm
An update on the trade. The overall expectation is for a NSL and the market seems to be trying to start respecting structure. While I expect that the bulls have more in the tank I can't rule out a deeper correction I do not want to want up with a BE I have locked in 300 points and secured $45K P/L. If I am right about this price will continue to respect structure to the high side and I will be safe if not then I am wrong and I want to be out of it anyway so I am following rules to some extent while still capturing some of the move. I am up 471 points at the moment.
Attached Image (click to enlarge)
Click to Enlarge Name: YM 03-18 (1597 Tick) 2018_03_05.png Size: 77 KB
If you fail to plan, you plan to fail.
  • #37,946
  • Mar 5, 2018 7:20pm Mar 5, 2018 7:20pm
Quoting Mr. Pip
Update trading the AB=CD here in case anyone wondered why I took a long {image}
breakdown of the down trend structure,
and buying at nearest structure.
  • #37,947
  • Mar 5, 2018 7:24pm Mar 5, 2018 7:24pm
Quoting HighGarden
{quote} breakdown of the down trend structure, and buying at nearest structure.
Great eye. I would have bought at the completion but I was not around.
If you fail to plan, you plan to fail.
  • #37,948
  • Mar 5, 2018 9:35pm Mar 5, 2018 9:35pm
Thoughts?
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 338 KB
Only with true heart one can see rightly
  • #37,949
  • Mar 5, 2018 9:42pm Mar 5, 2018 9:42pm
Quoting goodluckh4
Thoughts? {image}
expecting NSL, if downtrend still valid.
  • #37,950
  • Mar 6, 2018 12:52am Mar 6, 2018 12:52am
Quoting Mr. Pip
Looking at maybe the 14th for the live stream. What say you all?
wasn't able to join the last 2 streams ill try to attend to this one.
Also ill do my best to make some more free time to be more active on the thread !
  • #37,951
  • Mar 6, 2018 2:04am Mar 6, 2018 2:04am
Quoting csternfx
{quote} I"m by no means doing great so I don't have an expert opinion, but I would dump the 38.2 entries even if there is structure. Your R:R is bad. Not taking a trade is ok too. I used to take those because I saw rotation or something, but they almost always screwed me. I only take 61.8 or 78.6 now. Sometimes I'll take an 88.6 or 100 because the risk is low. Ideally, the best trades to take imo is an abcd correction of the longer term trend. Say if you are looking for an NSH, you enter long after an ABCD correction. Nearly a stress free trade...
Thanks csternfx. Only taking deeper corrections, that's where I actually come from.
I wanted to also take the shallower entries to maxize number of wins.
And that's cool as long as you're RIGHT, and price doesn't correct deeper.
Otherwise, like you say, your R:R gets screwed up.
I could compensate by scaling in but I'm not sure it is wise to trade 2 contracts with my account.
That would only add to the fear I guess.
  • #37,952
  • Mar 6, 2018 2:16am Mar 6, 2018 2:16am
Got 200 points last night.. yay! Cant wait on the 14th! Thanks Mr. PiP!
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  • #37,953
  • Mar 6, 2018 2:35am Mar 6, 2018 2:35am
Quoting PeterT
Was 100+ points in loss earlier today. Managed to get some back. Still closing today with -64 The mistake that comes back every time: Protecting too early because of fear. Fear that I might have made a mistake in my analysis. For example, that the longer term OF will correct deeper first. Or I enter at 38.2% with structure but then fear that price will make an ABCD correction and my entry sucks. It is frustrating and fascinating at the same time. Even though I'm convinced that I believe in the system, the fear still creeps up on me during a trade....
i think you should open trade step by step i don't bet all your money at a time.say you want to loss(your risk money..lol)10,100,1000 usd so you divide it 10 installment than open 1/2 lot if see your trade is going right way than open rest or if think you are right than increase lot though you are in -ve figure as your wish because some time it takes time to trade success for example i seeing it is clear rising wadge and bearish harmonic pattern and weekly evening star but after open my trade it is going to test and trap so in this situation i will not fear to increase my position ..imho
Say something meaningful or Silence!!
  • #37,954
  • Mar 6, 2018 3:28am Mar 6, 2018 3:28am
Quoting classy
{quote} i think you should open trade step by step i don't bet all your money at a time.say you want to loss(your risk money..lol)10,100,1000 usd so you divide it 10 installment than open 1/2 lot if see your trade is going right way than open rest or if think you are right than increase lot though you are in -ve figure as your wish because some time it takes time to trade success for example i seeing it is clear rising wadge and bearish harmonic pattern and weekly evening star but after open my trade it is going to test and trap so in this situation...
Thanks classy. So you mean scaling into a position? I could do that, but with YM my account is too small to trade multiple contracts. The maximum would be 2 I think.. So not an option for me for now.
  • #37,955
  • Mar 6, 2018 3:34am Mar 6, 2018 3:34am
Quoting PeterT
{quote} Thanks classy. So you mean scaling into a position? I could do that, but with YM my account is too small to trade multiple contracts. The maximum would be 2 I think.. So not an option for me for now.
i don't know about your account.if it is small than you know how to manage .make it mini or micro than play with it bro .always create your comfort zone and you are the creator so cut your coat according to your cloth..
Say something meaningful or Silence!!
  • #37,956
  • Mar 6, 2018 4:16am Mar 6, 2018 4:16am
Quoting RajD
2 shit trading days in a row. down 2000 bucks. FML
Sorry to hear man.
Are you trading more than 1 contract?
Where did it go wrong?
Dit you not follow your rules or get emotional?
Would you mind sharing your trades?

I'm asking because as you know I'm in the same situation lately and maybe we can learn from each others' mistakes..
  • #37,957
  • Mar 6, 2018 5:25am Mar 6, 2018 5:25am
Locked in behind structure 426 points
Attached Image (click to enlarge)
Click to Enlarge Name: YM 03-18 (1597 Tick) 2018_03_06.png Size: 76 KB
If you fail to plan, you plan to fail.
  • #37,958
  • Mar 6, 2018 5:53am Mar 6, 2018 5:53am
Sorry Traders re looked at it and adjusted to lock in more profit 500 points. The structure that should hold is higher locked in $75K
Attached Image (click to enlarge)
Click to Enlarge Name: YM 03-18 (1597 Tick) 2018_03_06.png Size: 77 KB
If you fail to plan, you plan to fail.
  • #37,959
  • Mar 6, 2018 6:52am Mar 6, 2018 6:52am
Quoting Mr. Pip
Sorry Traders re looked at it and adjusted to lock in more profit 500 points. The structure that should hold is higher locked in $75K {image}
Nice
  • #37,960
  • Mar 6, 2018 6:53am Mar 6, 2018 6:53am
Quoting Mr. Pip
Hello Traders, the next live stream is on Wednesday March 14 0900 EST
See you there
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