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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

  • #41,141
  • Jun 4, 2018 8:03am Jun 4, 2018 8:03am
Hard to trade today. (15.00 my time = 09.00 US time)
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  • #41,142
  • Jun 4, 2018 8:22am Jun 4, 2018 8:22am
Well the sellers have gotten some of the mojo back. Can they continue to push? They need to get below 800 up 30 points
If you fail to plan, you plan to fail.
  • #41,143
  • Jun 4, 2018 8:28am Jun 4, 2018 8:28am
If the sellers want this... then I say they must show some serious strength while approaching and trying to pass 24676 on my charts.

If the bulls continue with power.. I have 25046 as the next main stop. I am not saying that it can't weave up and down as it gets there.
Luck has no place in trading. Leave that for the poker table.
  • #41,144
  • Jun 4, 2018 8:33am Jun 4, 2018 8:33am
Quoting Pair-me-up
If the sellers want this... then I say they must show some serious strength while approaching and trying to pass 24676 on my charts. If the bulls continue with power.. I have 25046 as the next main stop. I am not saying that it can't weave up and down as it gets there.
The ball is in the selling side's court.
If you fail to plan, you plan to fail.
  • #41,145
  • Jun 4, 2018 8:45am Jun 4, 2018 8:45am
Hey Mr PiP
Been a long time ,glad to see you are well.. Markets are grinding today. Was trading with an expectation of NSH. Every body started posting Im short. I m like holy smokes what am i not seeing lol. Any way manage a 13 point loss, could have been a little more painful had i let my emotions trade. Loving your thread
Thanks
Take Care
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Always Learning
  • #41,146
  • Jun 4, 2018 8:51am Jun 4, 2018 8:51am
Bearish momentum. Recoil. AB and C, I entered a bit before, knowing how to suffer, and then the projection 100% FE and confluence with SM 15M. +23
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  • #41,147
  • Jun 4, 2018 9:05am Jun 4, 2018 9:05am
Quoting evocpr19
Hard to trade today. (15.00 my time = 09.00 US time) {image}
Good job evo, those 3 dips into the red must have been hard. This is an excellent example of trading the plan.
  • #41,148
  • Jun 4, 2018 9:27am Jun 4, 2018 9:27am
Quoting JayTrader
Hey Mr PiP Been a long time ,glad to see you are well.. Markets are grinding today. Was trading with an expectation of NSH. Every body started posting Im short. I m like holy smokes what am i not seeing lol. Any way manage a 13 point loss, could have been a little more painful had i let my emotions trade. Loving your thread Thanks Take Care {image}
What trading platform is that chart from?
Luck has no place in trading. Leave that for the poker table.
  • #41,149
  • Jun 4, 2018 9:36am Jun 4, 2018 9:36am
Quoting Pair-me-up
{quote} What trading platform is that chart from?
Hi Pair me up
It is a Motivewave Platform. Took another screenshot with all the components on left side of chart.
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Always Learning
  • #41,150
  • Jun 4, 2018 10:08am Jun 4, 2018 10:08am
Quoting pradlal
{quote} Good job evo, those 3 dips into the red must have been hard. This is an excellent example of trading the plan.
Thank you. It was a rubbish entry. I was expecting a faster move up, so did not want to miss it
  • #41,151
  • Jun 4, 2018 12:07pm Jun 4, 2018 12:07pm
Quoting Mr. Pip
{quote} I don't think you need to amend your plan. How many of your trades go to target? What I mean is what is your avg win? How is the trade management going? I don't care too much about the timing of your entry too much but there may be an issue on the trade management side and your trailing if any. Are you happy with your trade management?
Thanks again for the feedback. I think you may have pointed out some of the flaws I have made. Trade management has been quite poor but improving.

For past two months I placed 154 trades. Total -547 pips.

83 losers
28 break evens
43 winners

Looking at the above the break evens are a bit on the high side.

The winners when they come average 65 pips and losers 62 pips but as the ratio is 45.45% I am losing money at the moment.

Trade management:

Move to BE:
I was too quick to move to BE in April and moved to it before price made a NSH/NSL whereas in May I was much better. I have fewer BEs in May.

Price approaching Target:
I think I would have got closer to -150 loss in April (as opposed to -250) had I let price at least get to the target but on occasions I got out too early before the 1:1 completed (about 80% of the way). In May it was better but sometimes when the trade gets close to the target I am getting out in fear of losing the profits gained on the trade so far only to find it hits the target and I leave some pips on the table so perhaps I need to work on my patience here.

Trailing:
I have been trailing when 1:1 completes by looking at low of last two candles and moving the stop to a pip below the low point until I am stopped out. I have found this part straight forward but have noted that in volatile conditions price can stop me out only to move on to larger missed profits so perhaps this needs some work and I need to trail less aggressively. I may adopt a fib trail approach as outlined in some of your videos going forward but up until now I have wanted to keep things simple.

Unfortunately I have not been able to trade today as it's may first day back from my holiday so lots of non-trading work to get on with hopefully after a break and reflection I can have a more successful time trading going forward.
  • #41,152
  • Jun 4, 2018 12:32pm Jun 4, 2018 12:32pm
Quoting PeteH
{quote} Thanks again for the feedback. I think you may have pointed out some of the flaws I have made. Trade management has been quite poor but improving. For past two months I placed 154 trades. Total -547 pips. 83 losers 28 break evens 43 winners Looking at the above the break evens are a bit on the high side. The winners when they come average 65 pips and losers 62 pips but as the ratio is 45.45% I am losing money at the moment. Trade management: Move to BE: I was too quick to move to BE in April and moved to it before price made a NSH/NSL whereas...
I hope you can join me on Wednesday so we can talk about it.
If you fail to plan, you plan to fail.
  • #41,153
  • Jun 4, 2018 12:46pm Jun 4, 2018 12:46pm
Guys, I started with NT8 and Mr. Pipīs strategy few days ago. This is my first recorded trade. I am not sure about my NSH and NSL analysis. I made 32 pips though. I set my target few pips above 127 fibo extention because I had to go out (+set and forget is less stressful for me). All comments are appreciated. Thanks.
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  • #41,154
  • Jun 4, 2018 12:55pm Jun 4, 2018 12:55pm
Quoting majrou666
Guys, I started with NT8 and Mr. Pipīs strategy few days ago. This is my first recorded trade. I am not sure about my NSH and NSL analysis. I made 32 pips though. I set my target few pips above 127 fibo extention because I had to go out (+set and forget is less stressful for me). All comments are appreciated. Thanks. {image}
Very nice!
If you fail to plan, you plan to fail.
  • #41,155
  • Jun 4, 2018 1:06pm Jun 4, 2018 1:06pm
An update slow mover but we will see if it continues to progress
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If you fail to plan, you plan to fail.
  • #41,156
  • Jun 4, 2018 1:22pm Jun 4, 2018 1:22pm
A closer view of the trade before the close. Up 53 points.
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If you fail to plan, you plan to fail.
  • #41,157
  • Jun 4, 2018 2:09pm Jun 4, 2018 2:09pm
Hi guys, wonderful thread you have going here, I am a firm believer in harmonics. Just wondering if any of you use paid (or free) harmonic screeners or platforms such as Scott Carney's Harmonic Trader, FormationSeeker, etc. I have been thinking about choosing one and just wanted to see if you all thought they are useful/worth it. Thanks and green pips to you!
  • #41,158
  • Jun 4, 2018 2:24pm Jun 4, 2018 2:24pm
Quoting Mr. Pip
A closer view of the trade before the close. Up 53 points. {image}
what do u think if we follow the bigger patterns for the zones of oversold/overbought?
  • #41,159
  • Jun 4, 2018 5:14pm Jun 4, 2018 5:14pm
Quoting vladutz112
{quote} what do u think if we follow the bigger patterns for the zones of oversold/overbought?
Not sure I completely understand your post. Sorry
If you fail to plan, you plan to fail.
  • #41,160
  • Jun 4, 2018 5:16pm Jun 4, 2018 5:16pm
Quoting vladutz112
{quote} what do u think if we follow the bigger patterns for the zones of oversold/overbought?
My Friend, there is no overbought or oversold. Only corrections.
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