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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

  • #38,741
  • Mar 21, 2018 1:02pm Mar 21, 2018 1:02pm
Quoting Sheeep44
Nice confluence area. We got some FED ratings coming up, so not looking to trade this as of right now. {image}
Exactly why I don't enter during an interest rate decision haha.
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"Luck is when opportunity meets preparation"
  • #38,742
  • Mar 21, 2018 2:00pm Mar 21, 2018 2:00pm
Quoting Sheeep44
{quote} Exactly why I don't enter during an interest rate decision haha. {image}
I entered short at around 5.40pm and almost the moment 6.00pm hits the price shoots up to my stop loss. -52 pips.

I think for future reference I need to pay attention to the big news items!

2nd trade of the day and the pain train once more. Not had much luck the last few weeks. BE. +5
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  • #38,743
  • Mar 21, 2018 2:18pm Mar 21, 2018 2:18pm
Quoting PeteH
{quote} I entered short at around 5.40pm and almost the moment 6.00pm hits the price shoots up to my stop loss. -52 pips. I think for future reference I need to pay attention to the big news items! 2nd trade of the day and the pain train once more. Not had much luck the last few weeks. BE. +5 {image} {image} {image}
The big news changes, as such, nothing. It moves price only faster. What was the expectation at that time for price ?

We got an initial very bullish move, a 1:1 correction (see also heavy structure on the left) and a continuation to the upside to form a new NSH. However, this was the expectation.
  • #38,744
  • Mar 21, 2018 2:24pm Mar 21, 2018 2:24pm
Quoting evocpr19
{quote} The big news changes, as such, nothing. It moves price only faster. What was the expectation at that time for price ? We got an initial very bullish move, a 1:1 correction (see also heavy structure on the left) and a continuation to the upside to form a new NSH. However, this was the expectation.
I was trading the 89 pip chart and saw a NSL at 24817 and correction to 24849. In the longer timeframe I can see now that the expectation was NSH from the previous larger swing so in hindsight perhaps should not have taken trade.
  • #38,745
  • Mar 21, 2018 2:26pm Mar 21, 2018 2:26pm
What would the expectation be at 15:15 EDT? Anyone?
  • #38,746
  • Mar 21, 2018 2:28pm Mar 21, 2018 2:28pm
On the YM 233:

At the present time I see a NSH expectation failure so am looking for deep correction for NSH. Is this the same thing you see?
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  • #38,747
  • Mar 21, 2018 2:29pm Mar 21, 2018 2:29pm
Quoting PeteH
{quote} I was trading the 89 pip chart and saw a NSL at 24817 and correction to 24849. In the longer timeframe I can see now that the expectation was NSH from the previous larger swing so in hindsight perhaps should not have taken trade.
This is the dangerous part of trading with 89T. You can be easily lost.
  • #38,748
  • Mar 21, 2018 2:30pm Mar 21, 2018 2:30pm
I would say a NSL as that was last major move. But I am new to this site
  • #38,749
  • Mar 21, 2018 2:32pm Mar 21, 2018 2:32pm
Quoting evocpr19
{quote} This is the dangerous part of trading with 89T. You can be easily lost.
Yep - true enough. I think I will stick to T233.

On correction to structure and 62 fib I have placed a Long trade.

Entry: 24796
TP: 24874
SL 24733

Moved TP to 1:1 and now at Break even (30+ profit position).

Stopped out BE+5
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  • #38,750
  • Mar 21, 2018 2:55pm Mar 21, 2018 2:55pm
Quoting PeteH
{quote} Yep - true enough. I think I will stick to T233. On correction to structure and 62 fib I have placed a Long trade. Entry: 24796 TP: 24874 SL 24733 Moved TP to 1:1 and now at Break even (30+ profit position). Stopped out BE+5 {image} {image} {image}
PeteH,

did you pay attention on the short term PA?

Look the yellow lines, you have acceleration into your AOI.

NB: I took the long on the previous swing for +71
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  • #38,751
  • Mar 21, 2018 11:10pm Mar 21, 2018 11:10pm
Another losing day for me:
1 trade = -34

Marking up today's chart again, you'll see a lot of expectations playing out, except for the one I took, Damian talks about this on every live stream, don't take just the one trade and then complain about it because it was the 1 failure.....
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  • #38,752
  • Mar 21, 2018 11:48pm Mar 21, 2018 11:48pm
Dear evocpr19,

As another ongoing student of Damian’s approach to trading I have noticed your tremendous growth along the way and so I wanted to write you a quick message.

Would it be possible for you to post live trade entries during your trading session, please? That way everyone could also learn from your skill set. Perhaps, explaining the reasoning behind your entries and your trade management through out your trades?

It seems as if you have the pulse of the market in your hands.

I believe it would be of great benefit to all of us presently learning within this thread and since we are all here for the same reasons as well as to share our knowledge as Damian does on a dialysis basis.

I am sure you will be excited to share your findings actually. I just don’t see why wouldn’t you.

Keep up the good work and I/we look forward to your live market posts. I can’t wait to learn from your personal understanding to Damian’s approach to trading and price action reading.

Best regards,
  • #38,753
  • Edited 4:20am Mar 22, 2018 2:32am | Edited 4:20am
Quoting Tonete
Dear evocpr19, As another ongoing student of Damian’s approach to trading I have noticed your tremendous growth along the way and so I wanted to write you a quick message. Would it be possible for you to post live trade entries during your trading session, please? That way everyone could also learn from your skill set. Perhaps, explaining the reasoning behind your entries and your trade management through out your trades? It seems as if you have the pulse of the market in your hands. I believe it would be of great benefit to all of us presently...

The reasons for not doing it were already given in previous posts of me.
To give you another reason on top of the previous reasons (which is the most important one for me), I want to settle to France for trading FT. However, under french law it is not allowed do that in form of concretely advice people for realtime trading. Therefore, I will also not interfere in a running trade of someone else.

Furthermore, if you cannot get out something along my 1300 posts (maybe some of them can be classified as usefull) and 300 charts, I cannot help you.

You would grow, if you actively participate yourself in the thread. This was and still is my way of doing it.

For me, the learning curve has different steps to follow:

1) learn what Mr. Pip is teaching. Take advantage of all the material (posts, videos, live streams, other traders,...)
2) Try to apply yourself and understand PA on a finished chart. This implies also to post things.
3) try to apply it in realtime conditions.

The above steps are to be seen as a loop, to be revisited several times.

Your future is in your hands, not in my hands. You should be the driving force. I have not seen anything from you.

Simple test, tell me the reasons for my +123 trade
  • #38,754
  • Mar 22, 2018 7:37am Mar 22, 2018 7:37am
Quoting evocpr19
{quote} The reasons for not doing it were already given in previous posts of me. To give you another reason on top of the previous reasons (which is the most important one for me), I want to settle to France for trading FT. However, under french law it is not allowed do that in form of concretely advice people for realtime trading. Therefore, I will also not interfere in a running trade of someone else. Furthermore, if you cannot get out something along my 1300 posts (maybe some of them can be classified as usefull) and 300 charts, I cannot help...
I couldn't agree more. We are all trading ' 1 system ' but everyone's results are different, because everyone applies other things (read: giving there own touch to the system), so each one has to develop their own mindset and skills in order to succeed. You can easily trade the' same' way as another trader, but you would almost 100% not get the same results, as mentioned above.
"Luck is when opportunity meets preparation"
  • #38,755
  • Mar 22, 2018 7:47am Mar 22, 2018 7:47am
Another one.

As we can see we put in a double top, previous attempt to push higher.

Price finally pushed higher ( previous upswing )
Then price quickly diving down at my AOI. Normally I am not interested in longing after such PA. BUT price slowed down significantly, especially after such a candle ( without any fundamentals pushing price down ). Price tried to attempt to push down 2 candles and on the third, the bulls were able to close above the previous 2 candles ( inside bars/ range ), and closing almost to its full capacity. Then bears tried to push price down once more, at the same area, giving us a double bottom with small bullish divergence on the RSI ( extra confluence ) and supporting my already long position and significantly slowing price down ( weaker IOF NSL ), with still a pretty decent bearish candle, followed by a good bullish candle.

AND I did some backtesting, got over 150 trades (6+ months of data ) and really getting that belief system together, patience is key a lot of the times. It often isn't the instrument or timeframe we need to change ( depends on your lifestyle, of course) BUT we need to change our mindset in order to win, if we make it or not is completely up to us and how WE (traders) perceive the market information that is given to us, no one else to blame than us, for maybe not putting in the necessary work.

Lets see where this goes. Have a good day all and lets end the week strong.
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"Luck is when opportunity meets preparation"
  • #38,756
  • Mar 22, 2018 8:04am Mar 22, 2018 8:04am
Quoting evocpr19
{quote} PeteH, did you pay attention on the short term PA? Look the yellow lines, you have acceleration into your AOI. NB: I took the long on the previous swing for +71 {image}
Thanks for the feedback. Well done on the Long trade for your +71.
  • #38,757
  • Mar 22, 2018 8:21am Mar 22, 2018 8:21am
Quoting evocpr19
{quote} PeteH, did you pay attention on the short term PA? Look the yellow lines, you have acceleration into your AOI. NB: I took the long on the previous swing for +71 {image}
What difference is there between PeteH long and yours? If you look at your long, there was price accelaration into your AOI just as well and you were bettting against expectation since price was expected to make a NSL? My point is if you are looking at accelaration as a reason alone this is 50/50 call. If you were trading what Damian preaches you should have gone short a few candles before your long entry at the 61.8% retracement of the last swing down.
  • #38,758
  • Mar 22, 2018 8:28am Mar 22, 2018 8:28am
Quoting crixus
{quote} What difference is there between PeteH long and yours? If you look at your long, there was price accelaration into your AOI just as well and you were bettting against expectation since price was expected to make a NSL? My point is if you are looking at accelaration as a reason alone this is 50/50 call. If you were trading what Damian preaches you should have gone short a few candles before your long entry at the 61.8% retracement of the last swing down.
My trade was based on 89T and immediate orderflow was for a NSH
  • #38,759
  • Mar 22, 2018 8:42am Mar 22, 2018 8:42am
Good evening guys

YM Outlook

Expectation failure. Expectation is a weak NSH. Expectation is a deep and complex correction
  • #38,760
  • Mar 22, 2018 8:49am Mar 22, 2018 8:49am
Quoting RajD
Good evening guys YM Outlook Expectation failure. Expectation is a weak NSH. Expectation is a deep and complex correction
Good afternoon here! (UK)

I took a short on YM233 and hit BE+5 for my first trade.

I was looking for NSL and traded almost a 100% retracement.

Now looking for longs. Possible inverse shoulder,head,shoulder pattern (I know not a Mr Pip harmonic) but that's what I see?
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