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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

  • #38,401
  • Mar 15, 2018 2:09am Mar 15, 2018 2:09am
Quoting Mr. Pip
Hello Traders, Here is the link to the recorded live stream. I believe this to be one of the best streams to date. I will let you all decide for yourselves. As always, I hope this video holds tremendous value to you and helps you overcome some of the issues you might be experiencing. Please comment give me feedback and remember to subscribe to the channel and like if you liked the stream. Have an amazing day! https://youtu.be/tnsWQE0O3RA
Thanks again for doing the livestream!
for me personally this is the best livestream so far
it was a great training day for the emotions part in trading...
  • #38,402
  • Mar 15, 2018 3:14am Mar 15, 2018 3:14am
Quoting PeteH
{quote} Hi PeterT, I am new to trading harmonically and have also had the 233T, 144T and 89T charts up to see what entries are clearest. I too find it tough to stick to my rules however I find that analysing performance helps me. Last Wednesday I had five losing trades in a row totalling -151 pips where the price kept breaking the expectation. I'd trade short for a NSL only to see a break of expectation followed by a trade long for a NSH only to see the price break expectation to the downside. ...
Thanks for your post PeteH. It looks like you're doing better than me. I am convinced about the probability aspect, but my mind seems to lose it sometimes and I end up taking ridiculous entries, trying to scalp a few points here and there, trying to pick big reversals. I sometimes really wonder what the hell is wrong with me.
I can only keep going and try the best I can to stick with my trade plan.
I guess I need to learn to be more disciplined. Not sure how to learn that.
Good luck with your trading
  • #38,403
  • Mar 15, 2018 4:57am Mar 15, 2018 4:57am
Not the best trades on YM, but it is what it is. +35
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  • #38,404
  • Mar 15, 2018 5:19am Mar 15, 2018 5:19am
Took an early trade during the Euro session. Trying to apply the concept from last nights webinar. So far, so good.

Demo trading is good practice.
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Luck has no place in trading. Leave that for the poker table.
  • #38,405
  • Mar 15, 2018 5:30am Mar 15, 2018 5:30am
Out for +66 points
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Luck has no place in trading. Leave that for the poker table.
  • #38,406
  • Mar 15, 2018 6:10am Mar 15, 2018 6:10am
Quoting Pair-me-up
Out for +66 points {image}
Hi Pair and Evo,

Nice London sesion trade you are doing on the YM ;-)
Do you think YM it is a okay instrument to trade in the europe morning sessions. As if it should be as good as the lets say Futse or DAX?
I ask bc I would prefer joining this group trading future YM as everyone else here- just in the morning London open.

All the best

Are you profitable? I am not... yet...
  • #38,407
  • Mar 15, 2018 6:31am Mar 15, 2018 6:31am
Quoting Pjort
{quote} Hi Pair and Evo, Nice London sesion trade you are doing on the YM ;-) Do you think YM it is a okay instrument to trade in the europe morning sessions. As if it should be as good as the lets say Futse or DAX? I ask bc I would prefer joining this group trading future YM as everyone else here- just in the morning London open. All the best
I do not often trade in the Europe morning session and I noticed that you have also many times where price is not moving a lot.
  • #38,408
  • Mar 15, 2018 6:43am Mar 15, 2018 6:43am
Hi all,
Just posting to whine a bit. Very frustrated at the moment! It's Spring here in my area and my business is lawn maintenance/gardener, so I am struggling to find any reasonable time to trade. Between work, physical exhaustion and family, I feel screwed. I do trade some 1M FX in the morning before I leave, but I think it's when the London guys take lunch, so I am losing a lot more than I'm winning. I haven't participated in the thread in weeks. All Winter I made time for trading YM, but like Peter T has been saying, traded erratically and emotionally and almost blew my little futures account. I'm not sure if I made any progress at all!

Anyway, I will continue this struggle/journey and hopefully won't be a laborer forever.

All the best to you all and as always thank you very much Mr. Pip!
Wow! I've got some experience to gain.
  • #38,409
  • Mar 15, 2018 6:49am Mar 15, 2018 6:49am
Quoting Lawnman
Hi all, Just posting to whine a bit. Very frustrated at the moment! It's Spring here in my area and my business is lawn maintenance/gardener, so I am struggling to find any reasonable time to trade. Between work, physical exhaustion and family, I feel screwed. I do trade some 1M FX in the morning before I leave, but I think it's when the London guys take lunch, so I am losing a lot more than I'm winning. I haven't participated in the thread in weeks. All Winter I made time for trading YM, but like Peter T has been saying, traded erratically and...
Sorry to hear. Would asian session be better for you? Maybe you should then select an Asian forex pair.
  • #38,410
  • Mar 15, 2018 7:07am Mar 15, 2018 7:07am
Quoting Lawnman
Hi all, Just posting to whine a bit. Very frustrated at the moment! It's Spring here in my area and my business is lawn maintenance/gardener, so I am struggling to find any reasonable time to trade. Between work, physical exhaustion and family, I feel screwed. I do trade some 1M FX in the morning before I leave, but I think it's when the London guys take lunch, so I am losing a lot more than I'm winning. I haven't participated in the thread in weeks. All Winter I made time for trading YM, but like Peter T has been saying, traded erratically and...
Hello Lawnman,

Well, first of all I am also a kind of craft-man. And I have also chosen to make a shift from the hands job to the mind job with the market.
What I have thought about(5 years) is that if you or me ever would think about being among the 5-10 % winners around the table and not the 90 % looser how could we ever be that when we occasionally sit down by the pc in-between wife job kids customers friends sick parents, sick parrots... you name it.

THIS IS HILARIOUS TO BELIEVE IN ANY SUCCESS AT SUCH CIRCUMSTANCES.

End of discussion.

My own plan to do it the right way, is here:

Get 8K usd to pay you off job/customers in 2 month
Get 3K usd to fund your broker acount
Get 1K usd for pay tickstream software vendor etc.
Get 2K for renting a office space with internet access 2 month.
Cost total 13K usd.
The trading day mon-friday 8.00 - 1200.
Take a walk - meditate - maybee small run.
Sit down trade 3 hours, make +20 tick a day avarege. in 2 month


2 months later, then its just done, and I am one of the 10 percents...

Hope it may help you...!

Please ask why I wanna do it this way!!

All the best!
Are you profitable? I am not... yet...
  • #38,411
  • Mar 15, 2018 7:29am Mar 15, 2018 7:29am
Quoting Pjort
{quote} Hi Pair and Evo, Nice London sesion trade you are doing on the YM ;-) Do you think YM it is a okay instrument to trade in the europe morning sessions. As if it should be as good as the lets say Futse or DAX? I ask bc I would prefer joining this group trading future YM as everyone else here- just in the morning London open. All the best
I took that trade about an hour after the London open. I am demo trading, and I wanted to test to see if the expectation still plays out 70% of the time, regardless of the time of day.
Luck has no place in trading. Leave that for the poker table.
  • #38,412
  • Mar 15, 2018 7:37am Mar 15, 2018 7:37am
Quoting Pair-me-up
{quote} I took that trade about an hour after the London open. I am demo trading, and I wanted to test to see if the expectation still plays out 70% of the time, regardless of the time of day.
I see - cool... And maybee- if you got your 20 tick, then... Voila...
Are you profitable? I am not... yet...
  • #38,413
  • Mar 15, 2018 7:52am Mar 15, 2018 7:52am
Quoting PeterT
{quote} Thanks for your post PeteH. It looks like you're doing better than me. I am convinced about the probability aspect, but my mind seems to lose it sometimes and I end up taking ridiculous entries, trying to scalp a few points here and there, trying to pick big reversals. I sometimes really wonder what the hell is wrong with me. I can only keep going and try the best I can to stick with my trade plan. I guess I need to learn to be more disciplined. Not sure how to learn that. Good luck with your trading
Hi PeterT, I'm not so sure I am doing much better in terms of profit and loss but I am trading along with my plan and finding that even on losing days now I am sticking to my rules and not closing positions early etc.

I think the key is to keep my emotions in check. It is quite difficult but I find that other areas of my life have helped. For instance I am UK based and this week it is the Cheltenham festival. I have been both trading and selecting horses in the Cheltenham festival. With gambling on horse racing I have done this for years with a set of rules and found that I have success because I place the bets the previous day and simply await the result at the end of the day to play out. There is no emotion. Bets are on, they will hit the profit target (i.e. win or place) or they will be unplaced. It is very simple. With trading it should be similar. I should place the trade and manage the trade not wavering from the rules. With horse race selections for example yesterday I had a string of losers followed by a winner at 25/1 in the last race (Relegate) which recouped losers and made me a small profit. I see trading in a similar way and therefore it is important to simply ensure that I let the trades play out even if I hit five losers in succession.

I am very mindful that if I close trades early I am missing the whole point of the take profit target which must be a 1:1+ risk reward. If I see trades start well (e.g. 30-40 pips up) and the take profit is say 80-90 pips then I wait until price hits the 1:1 or the 127% fib and then manage aggressively with trailing stops. Where I have made mistakes and closed trades early I have thought to myself "Why have I taken on a 30-40 pips potential stop loss if I close at +20 or +30 as this is a road to potential ruin!"
  • #38,414
  • Edited 10:34am Mar 15, 2018 8:08am | Edited 10:34am
Hi EVO:
Congratulation man.
For a long time, i hesitate to write this post, because i really like you and admire your technique of trading, and in no way i would think bothering you with my words.
so if you find it in any way offensive, it is because of my bad English, which is not my native language.
For the last several months, i was following your posts and your trading charts, and tried to put myself in your position and take the trades like the way that you are doing it, i should acknowledge, that i have not seen or heard about a trader, having nearly 100% win rate, your entry and exit point in every trade are so nicely selected and exact, that there only can be two possibility :
1) Either you have a trader angel on your left shoulder whispering to your ear when to take a trade and where to exit.....
2) Or that in addition to following the Damian lessons, you are using another confirmation technique, that i would say is really accurate and precise.
At any rate , I believe this is the "Holy Grail", that everybody was looking for and congrat. you have found it bro.
And let me say that i respect your idea of not teaching or sharing it with others, when you put so much effort and time in hard painful road of learning it.
I wish you to have success and green pips forever.
  • #38,415
  • Mar 15, 2018 8:09am Mar 15, 2018 8:09am
Hello Traders, I won’t be able to trade with you today. Tomorrow I will be there to mix it up with you all. I hope you all got a chance to see one of the best if not the best stream we have had because it was magical you you all to see what trading psychology really is and having that belief system in place. Catch you all tomorrow my friends.
If you fail to plan, you plan to fail.
  • #38,416
  • Mar 15, 2018 8:49am Mar 15, 2018 8:49am
Quoting Mr. Pip
Hello Traders, I won’t be able to trade with you today. Tomorrow I will be there to mix it up with you all. I hope you all got a chance to see one of the best if not the best stream we have had because it was magical you you all to see what trading psychology really is and having that belief system in place. Catch you all tomorrow my friends.
great session yesterday Damian. Thank you for making me believe to follow my plan no matter what happens
  • #38,417
  • Mar 15, 2018 8:50am Mar 15, 2018 8:50am
Yesterday I got one loss and one profit ..ended up with +7 pionts.
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First kill for today..
+71
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  • #38,418
  • Mar 15, 2018 8:51am Mar 15, 2018 8:51am
So far one lost trade in red. However, the night is still young.
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Luck has no place in trading. Leave that for the poker table.
  • #38,419
  • Mar 15, 2018 8:53am Mar 15, 2018 8:53am
interested in shorts at 845
  • #38,420
  • Edited 10:44pm Mar 15, 2018 8:55am | Edited 10:44pm
Quoting PeterT
{quote} Thanks for your post PeteH. It looks like you're doing better than me. I am convinced about the probability aspect, but my mind seems to lose it sometimes and I end up taking ridiculous entries, trying to scalp a few points here and there, trying to pick big reversals. I sometimes really wonder what the hell is wrong with me. I can only keep going and try the best I can to stick with my trade plan. I guess I need to learn to be more disciplined. Not sure how to learn that. Good luck with your trading
Hi PeterT and PeteH:
I am sure that you are aware and know about the point that i am going to say, but let me just say it to emphasize for the sake of others that experience the same problem:
1) When you have two or more expectation failure in a row, this means price action instability, and this is a sign of price entering an indecision or Range zone. It shows that price is not trending .
2) When we see for example a NSH followed unexpectedly with a NSL, it is what has been named in trading literature as "Quasi Moda" state .
3) I believe that as we learned the candle shapes in PA chart analysis, we also should learn different PA chart Patterns, like Flags, Triangles, H & S, Diagonals... etc . i am recommending this because ,the above mentioned pattern, also happens in what has been named as Expanding Triangles .
4) In these condition what i am doing is to zoom out the chart or go to higher time frame (tick count), this way i will have a more generalized view of what price is doing and where it may be heading. Triangles are a common pattern in complex correction, by zooming out you also may find it because of, a correction happening in higher order flows swing.
5) Most of the time after the Range state is over, forming any type of the Triangle, price will follow the previous trend direction.
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