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Ratios & Harmonics: a Different Way to Trade

  • #41,581
  • Jun 27, 2018 8:41am Jun 27, 2018 8:41am
Out for +116

O.k. That is enough practice for the day. Good night all.
Attached Image (click to enlarge)
Click to Enlarge Name: YM 09-18 (233 Tick).png Size: 39 KB
Luck has no place in trading. Leave that for the poker table.
  • #41,582
  • Jun 27, 2018 8:55am Jun 27, 2018 8:55am
Quoting JayTrader
Hi all Done trading today. 2nd trade was watched from higher TF. Playing around with Multiple TF's Take Care {image}
So you define your SL based on higher TF and profit targets based on lower timeframe?
  • #41,583
  • Jun 27, 2018 9:53am Jun 27, 2018 9:53am
Done for the day, 3 trades
-52, +62, +45
---------------------------------
Total +55

Green 13 out of last 14 days and 12 consecutive days for +516 points.
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  • #41,584
  • Edited 10:13am Jun 27, 2018 9:57am | Edited 10:13am
Quoting evocpr19
{quote} So you define your SL based on higher TF and profit targets based on lower timeframe?
No I usually have SL and targets defined in same TF trading a specific swing to a NSH or NSL in that TF The second trade (referred to on previous post) was taken off of the Higher TF(1597) and SL was appropriate to that trade, but once into profit decided to close it rather than manage it this afternoon. I will occasionally look to a higher TF to see if it makes sense to me to move a sl or exit if a trade gets away from me on a lower TF, from my misreading of OF but this was not the case today. I just got tired and didn't want to babysit a longer term trade. I attached the 1597 to show you what i was looking at, I would be at BE right about where picture is now. Hope my explanation clears things up.
Attached Image (click to enlarge)
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Always Learning
  • #41,585
  • Jun 27, 2018 10:23am Jun 27, 2018 10:23am
Quoting bmdenton23
Done for the day, 3 trades -52, +62, +45 --------------------------------- Total +55 Green 13 out of last 14 days and 12 consecutive days for +516 points. {image}
I screwed up that second trade of yours. Taken out before the drop and didn't get back in. Ouch
  • #41,586
  • Jun 27, 2018 10:43am Jun 27, 2018 10:43am
Quoting JayTrader
{quote} No I usually have SL and targets defined in same TF trading a specific swing to a NSH or NSL in that TF The second trade (referred to on previous post) was taken off of the Higher TF(1597) and SL was appropriate to that trade, but once into profit decided to close it rather than manage it this afternoon. I will occasionally look to a higher TF to see if it makes sense to me to move a sl or exit if a trade gets away from me on a lower TF, from my misreading of OF but this was not the case today. I just got tired and didn't want to babysit...
Yes, thank you.
  • #41,587
  • Jun 27, 2018 12:16pm Jun 27, 2018 12:16pm
Quoting bmdenton23
Done for the day, 3 trades -52, +62, +45 --------------------------------- Total +55 Green 13 out of last 14 days and 12 consecutive days for +516 points. {image}
Congrats on your results man, are you trading live or demo? Nice progress as well, I can remeber someone saying May was a bad month, but it looks like you guys are killing it in June! Keep it up and lets all make bank together. Don't forget to spend some time with the loved ones
"Luck is when opportunity meets preparation"
  • #41,588
  • Jun 28, 2018 4:55am Jun 28, 2018 4:55am
Morning All
Had to Trade a little early this morning have some running around to do this afternoon so might be only trade today, just stopped out for +69
Hope you all have a Great Trading Day
Take Care
Attached Image (click to enlarge)
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Attached Image
Always Learning
  • #41,589
  • Jun 28, 2018 5:13am Jun 28, 2018 5:13am
Long.
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"Luck is when opportunity meets preparation"
  • #41,590
  • Jun 28, 2018 5:17am Jun 28, 2018 5:17am
Quoting Sheeep44
Long. {image}
Edit: reduced risk, to 40% of initial risk.
"Luck is when opportunity meets preparation"
  • #41,591
  • Jun 28, 2018 5:27am Jun 28, 2018 5:27am
Quoting Sheeep44
{quote} Edit: reduced risk, to 40% of initial risk.
Stopped out. Next.
"Luck is when opportunity meets preparation"
  • #41,592
  • Jun 28, 2018 6:31am Jun 28, 2018 6:31am
Took a short on the previous swing. Currently in profit for the day. lets see what this swing can bring us!
Attached Image (click to enlarge)
Click to Enlarge Name: cT_cs_3349369_GBPUSD_2018-06-28_15-27-46.png Size: 38 KB
"Luck is when opportunity meets preparation"
  • #41,593
  • Jun 28, 2018 6:32am Jun 28, 2018 6:32am
Good evening, traders. I had a few nice ones earlier today, that went against me negatively while I had to be away from my computer for a moment. Thus I couldn't move my stop to break even. Nevertheless, I can finally look at my chart(s) relatively distraction free.

So, does anyone see this 1:1 ? If so, is it valid?
Attached Image (click to enlarge)
Click to Enlarge Name: YM 09-18 (1597 Tick).png Size: 94 KB
Luck has no place in trading. Leave that for the poker table.
  • #41,594
  • Jun 28, 2018 6:38am Jun 28, 2018 6:38am
Quoting Pair-me-up
Good evening, traders. I had a few nice ones earlier today, that went against me negatively while I had to be away from my computer for a moment. Thus I couldn't move my stop to break even. Nevertheless, I can finally look at my chart(s) relatively distraction free. So, does anyone see this 1:1 ? If so, is it valid? {image}
ABCD isn't valid, price closed above the 78,6% retracement of the main swing.
"Luck is when opportunity meets preparation"
  • #41,595
  • Jun 28, 2018 6:52am Jun 28, 2018 6:52am
Quoting Sheeep44
Took a short on the previous swing. Currently in profit for the day. lets see what this swing can bring us! {image}
Next. Stopped out for 1,5%. Currently at -.5% for the day.
"Luck is when opportunity meets preparation"
  • #41,596
  • Jun 28, 2018 6:59am Jun 28, 2018 6:59am
Got one more trade in before I have to leave for +69 and a BE +7
Take Care
Attached Image (click to enlarge)
Click to Enlarge Name: 628.jpg Size: 188 KB
Always Learning
  • #41,597
  • Jun 28, 2018 7:05am Jun 28, 2018 7:05am
Quoting Sheeep44
{quote} ABCD isn't valid, price closed above the 78,6% retracement of the main swing.
Looks like a valid bat-pattern to me.

Attached Image (click to enlarge)
Click to Enlarge Name: YM 09-18 (1597 Tick) 2018_06_28.png Size: 91 KB


Even though the CD leg didn't retrace all the way up to the 88.6% retracement of the XA leg, price corrected right into an are of structure and offered great R:R for a short.

I guess it depends on your rules/retracement levels.
  • #41,598
  • Jun 28, 2018 7:32am Jun 28, 2018 7:32am
Quoting JayTrader
Got one more trade in before I have to leave for +69 and a BE +7 Take Care {image}
Hi Jay

I curious what make you take the short from your first entry.I was think it will make a small correct and make NSH.Very impress the way you manage your trade
Did you move your SL when trading.
  • #41,599
  • Jun 28, 2018 7:32am Jun 28, 2018 7:32am
took 2 trades. Could have taken profits but wanted to go for the 1:1
Attached Image (click to enlarge)
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  • #41,600
  • Jun 28, 2018 7:36am Jun 28, 2018 7:36am
Quoting Kayjay2011
{quote} Looks like a valid bat-pattern to me. {image} Even though the CD leg didn't retrace all the way up to the 88.6% retracement of the XA leg, price corrected right into an are of structure and offered great R:R for a short. I guess it depends on your rules/retracement levels.

What's the profit target for a bat pattern?
Luck has no place in trading. Leave that for the poker table.
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