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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

  • #40,061
  • May 2, 2018 10:33am May 2, 2018 10:33am
I missed the good trade from today. Was right before my meeting. Also passed on a good winner yesterday too. Killing my own expectancy. Impatient to try again tomorrow.
  • #40,062
  • May 2, 2018 12:49pm May 2, 2018 12:49pm
What if we could predict, with a high level of probability, what the market is going to do. Practice makes perfect.

But remember, not every trade setup is going to work out guys, because we never know what is going to happen next.

Safe trading!

See my prediction on the 16th of April..

https://www.tradingview.com/chart/AUDUSD/pHI9qDuX-AUDUSD-Daily-high-level-of-confluence/
"Luck is when opportunity meets preparation"
  • #40,063
  • May 2, 2018 1:37pm May 2, 2018 1:37pm
Here is the link to the live stream from today. Please comment and post.

https://youtu.be/2en0wnxKtGI
If you fail to plan, you plan to fail.
  • #40,064
  • May 2, 2018 2:56pm May 2, 2018 2:56pm
Quoting Mr. Pip
Here is the link to the live stream from today. Please comment and post. https://youtu.be/2en0wnxKtGI
Thanks for again a fantastic live stream Damian
I found out I really know a lot already (primarily thanks to you).
My biggest issue is still reading strength/weakness.
That sometimes puts me on the weakness side, while I should be on the strength side.
When you explain the price action I understand it, it sounds almost obvious.
But when trading live, a lot of times I have two ways of interpreting the price action, so I see strength on the buyers and also on the sellers, depending how I interpret the swings and candles.
I like these kind of videos, where the price action is a little harder. Because that's where we can learn the most from you.

Also there was a real good balance between trading and answering questions.
Super video!
Thanks for doing this and already looking forward to the next video
  • #40,065
  • May 2, 2018 4:43pm May 2, 2018 4:43pm
Quoting PeterT
{quote} Thanks for again a fantastic live stream Damian I found out I really know a lot already (primarily thanks to you). My biggest issue is still reading strength/weakness. That sometimes puts me on the weakness side, while I should be on the strength side. When you explain the price action I understand it, it sounds almost obvious. But when trading live, a lot of times I have two ways of interpreting the price action, so I see strength on the buyers and also on the sellers, depending how I interpret the swings and candles. I like these...
Thank you for the feedback. Something that might help you on the strength and weakness is not to overthink it. Superficially look for who is gaining projection and momentum. Then look into the areas that obviously must be defended and see if they are. In the live stream I talk about that specifically and it provides insight asto who is in charge.

Hope that helps. Trade well my friend!
If you fail to plan, you plan to fail.
  • #40,066
  • May 2, 2018 9:02pm May 2, 2018 9:02pm
Quoting Sheeep44
{quote} How is price past your TP? Too much slippage?
Noh, Spread
  • #40,067
  • May 2, 2018 9:47pm May 2, 2018 9:47pm
Hi,
Can you share harmonics scanner which you are using?
  • #40,068
  • May 3, 2018 12:20am May 3, 2018 12:20am
Hi Team,

This question goes to those using NT. When you leave your trades overnight, and the price reaches your TP or SL, do the trades close....Yesterday I left two trades running, the price reached SL (Indicated on the yellow horizontal line), it did not close, after a while it reversed and went my direction, it then reached my TP (Indicated on the last diagonal line), it did not close, the trades automatically closed at the price I've indicated "closed here", after I went online this morning.

Is it adviseable to leave trades running overnight on NT, if yes, what do you need to do for the SL and TP to be triggered once the price reaches there...

Attached Image (click to enlarge)
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  • #40,069
  • May 3, 2018 12:26am May 3, 2018 12:26am
Quoting mukai
Hi Team, This question goes to those using NT. When you leave your trades overnight, and the price reaches your TP or SL, do the trades close....Yesterday I left two trades running, the price reached SL (Indicated on the yellow horizontal line), it did not close, after a while it reversed and went my direction, it then reached my TP (Indicated on the last diagonal line), it did not close, the trades automatically closed at the price I've indicated "closed here", after I went online this morning. Is it adviseable to leave trades running overnight...
A possible cause is that you set TP and SL orders that are automatically cancelled at the end of the trading day?
If the TIF-parameter is set to 'DAY' you get this behaviour I think.
If you want your order to never expire, set it to 'GTC' (= Good Till Cancelled).
I'm not an expert at this, just talking from experience.
Please look it up for more information.

Not sure if that's the probem, hope it helps.

EDIT: Sorry I think I misunderstood. The solution will probably not help
  • #40,070
  • May 3, 2018 12:31am May 3, 2018 12:31am
Quoting Mr. Pip
{quote} Thank you for the feedback. Something that might help you on the strength and weakness is not to overthink it. Superficially look for who is gaining projection and momentum. Then look into the areas that obviously must be defended and see if they are. In the live stream I talk about that specifically and it provides insight asto who is in charge. Hope that helps. Trade well my friend!
Thanks I guess I need some more practice on this
  • #40,071
  • May 3, 2018 2:43am May 3, 2018 2:43am
As always Great value on your videos Mr. PIP.. Thanks for all you do
  • #40,072
  • May 3, 2018 4:01am May 3, 2018 4:01am
Bearish Shark USDJPY H8
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If you don't stand for something you will fall for nothing
  • #40,073
  • May 3, 2018 4:02am May 3, 2018 4:02am
good morning You are doing great selfless and enduring teaching which is a great, thanks.
  • #40,074
  • Edited 9:55am May 3, 2018 4:20am | Edited 9:55am
Quoting mukai
Hi Team, This question goes to those using NT. When you leave your trades overnight, and the price reaches your TP or SL, do the trades close....Yesterday I left two trades running, the price reached SL (Indicated on the yellow horizontal line), it did not close, after a while it reversed and went my direction, it then reached my TP (Indicated on the last diagonal line), it did not close, the trades automatically closed at the price I've indicated "closed here", after I went online this morning. Is it adviseable to leave trades running overnight...
Hi!

With demo in NT you should not go offline and leave your machine running. And of course as PeterT already said, put TIF on GTC. Check this post on the NT forums: https://ninjatrader.com/support/forum/showthread.php?t=95526

Quote
Unfortunately, no, because Sim order exist locally on your PC, NinjaTrader must be open and receiving data for them to function as expected.

Live orders exist outside of your PC depending on the order state, so they will function normally even when NinjaTrader is closed.
  • #40,075
  • May 3, 2018 4:23am May 3, 2018 4:23am
Already took a short on the YM. Messed up my trailing on the decision candles though. Could have been a few points more.

Anyways, thank you very much Damian for your live stream yesterday. It had a lot of value and brought me back on the right path in some situations where I was lost!
Attached Image (click to enlarge)
Click to Enlarge Name: YM 06-18 (89 Tick) 2018_05_03.png Size: 59 KB
  • #40,076
  • May 3, 2018 5:55am May 3, 2018 5:55am
Quoting Hansl
{quote} Hi! With demo in NT you should not go offline and leave your machine running. And of course as PeterH already said, put TIF on GTC. Check this post on the NT forums: https://ninjatrader.com/support/forum/showthread.php?t=95526 {quote}

Many thanks Hansl.

Much appreciated.

Cheers!!!
  • #40,077
  • May 3, 2018 6:40am May 3, 2018 6:40am
Hello Traders, How is everyone doing today? I hope all of you enjoyed the stream and it helped you clean up some things that were a bit messy for you.
If you fail to plan, you plan to fail.
  • #40,078
  • May 3, 2018 6:44am May 3, 2018 6:44am
Quoting Mr. Pip
Hello Traders, How is everyone doing today? I hope all of you enjoyed the stream and it helped you clean up some things that were a bit messy for you.
It was great Damian. Thanks for all you do. It helped me realize I need practice assessing strength and weakness. Which is what I'm trying to do in this mornings market. Also, glad we got to see you take some trades. That's where I seem to learn the most.
  • #40,079
  • May 3, 2018 7:08am May 3, 2018 7:08am
Quoting PipJr
{quote} It was great Damian. Thanks for all you do. It helped me realize I need practice assessing strength and weakness. Which is what I'm trying to do in this mornings market. Also, glad we got to see you take some trades. That's where I seem to learn the most.
Glad it was helpful!
If you fail to plan, you plan to fail.
  • #40,080
  • May 3, 2018 7:17am May 3, 2018 7:17am
Have taken two trades so far a loser and a winner +36 points so far
Attached Image (click to enlarge)
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If you fail to plan, you plan to fail.
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