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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

  • #41,701
  • Jul 9, 2018 7:42am Jul 9, 2018 7:42am
Quoting Sheeep44
{quote} I hope everything will be allright! God bless!
Thank you too, Sheep!! Once I was leaving a club with some friends and had a billboard fly right into me. I was shockingly surprised to say the least. Luckily, the billboard was made out of some cheap light plastic. lol
Luck has no place in trading. Leave that for the poker table.
  • #41,702
  • Jul 9, 2018 7:44am Jul 9, 2018 7:44am
Quoting Mr. Pip
{quote} Hello Sheep, What in the hell is that mess? LOL
Haha it is a butterfly pattern, the way Scott teaches it. I use patterns in combination with PA to determine entries. I wanted to show 3 ratios. The inversion of the XA-leg, extension of the AB-leg and the inversion of the BC-leg, aligning in the same area. Seems a bit overwhelming, normally don't keep them on the chart, but wanted to show other traders how I drew them, and because of that it seems a bit messy ..
Attached Image (click to enlarge)
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"Luck is when opportunity meets preparation"
  • #41,703
  • Jul 9, 2018 7:49am Jul 9, 2018 7:49am
Locked in my daily goal of +20 plus a few bonus points beyond that. Looks like the bears are try a surprise sneak attack soon.
Attached Image (click to enlarge)
Click to Enlarge Name: YM 09-18 (233 Tick).png Size: 43 KB
Luck has no place in trading. Leave that for the poker table.
  • #41,704
  • Jul 9, 2018 7:49am Jul 9, 2018 7:49am
Quoting Sheeep44
{quote} Haha it is a butterfly pattern, the way Scott teaches it. I use patterns in combination with PA to determine entries. I wanted to show 3 ratios. The inversion of the XA-leg, extension of the AB-leg and the inversion of the BC-leg, aligning in the same area. Seems a bit overwhelming, normally don't keep them on the chart, but wanted to show other traders how I drew them, and because of that it seems a bit messy .. {image}
My question wasn't the pattern it was all those lines LOL
If you fail to plan, you plan to fail.
  • #41,705
  • Jul 9, 2018 7:52am Jul 9, 2018 7:52am
Trailed it a bit more aggressively and got taken out for +41 . O.k. All.. I hope everyone will have an awesome trading day and week. I am really excited to observe the YM this summer. It will be my first summer to see how tradeable it is during this time of year. Good night all.
Luck has no place in trading. Leave that for the poker table.
  • #41,706
  • Jul 9, 2018 8:05am Jul 9, 2018 8:05am
the bulls are on fire right now. no retracement since market open
  • #41,707
  • Jul 9, 2018 8:06am Jul 9, 2018 8:06am
Quoting Eyesonthepip
the bulls are on fire right now. no retracement since market open
I know have not have a chance to buy into it.
If you fail to plan, you plan to fail.
  • #41,708
  • Jul 9, 2018 8:12am Jul 9, 2018 8:12am
Quoting Mr. Pip
{quote} I know have not have a chance to buy into it.
now is the time to practice discipline. stick to the plan
  • #41,709
  • Jul 9, 2018 8:14am Jul 9, 2018 8:14am
Hello!
so this is the type of situation where I get "lost"
there is no >38% retracement since the opening, does it mean that this has to be considered as a single big massive swing or is there other ways to slice it?
  • #41,710
  • Jul 9, 2018 8:28am Jul 9, 2018 8:28am
Morning All
Hope every one had a great weekend. Only Trade Today +68
Take Care
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Always Learning
  • #41,711
  • Jul 9, 2018 8:43am Jul 9, 2018 8:43am
Quoting ForeverNewb
Hello! so this is the type of situation where I get "lost" there is no >38% retracement since the opening, does it mean that this has to be considered as a single big massive swing or is there other ways to slice it?
take it as one giant swing (blue) or use the last smaller swing (red).

But take note, if you cant afford the risk, don't take the trade. there is always a next trade.
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  • #41,712
  • Jul 9, 2018 8:46am Jul 9, 2018 8:46am
Quoting Eyesonthepip
{quote} take it as one giant swing (blue) or use the last smaller swing (red). But take note, if you cant afford the risk, don't take the trade. there is always a next trade. {image}
thank you!
  • #41,713
  • Jul 9, 2018 11:41am Jul 9, 2018 11:41am
Late day winner
Attached Image (click to enlarge)
Click to Enlarge Name: YM 09-18 (233 Tick) 2018_07_09.png Size: 60 KB
  • #41,714
  • Jul 9, 2018 11:54am Jul 9, 2018 11:54am
Quoting csternfx
Late day winner {image}
I took the exact same trade.
Attached Image (click to enlarge)
Click to Enlarge Name: YM 09-18 (233 Tick) 2018_07_09.png Size: 77 KB
  • #41,715
  • Jul 9, 2018 11:55am Jul 9, 2018 11:55am
Quoting WestVillage
{quote} I took the exact same trade. {image}
Nice. I don't like late day trades and the double top had me hesitant, but the risk was low.
  • #41,716
  • Edited 2:26pm Jul 9, 2018 12:53pm | Edited 2:26pm
Quoting Mr. Pip
What would you all like to see addressed on Thursday?
Hi Mr Pip,

I would appreciate it if you could cover the following:

How to trade in the following situations:

1. If the market is moving up without any retracements - this means that buyers are totally in control and you are not really getting a decent retracement to trade off. The market then makes a small retracement that does not touch the 38.2 fib of the current swing. It it then goes on to make a weak NSH, would the next retracement mean an entry and a stop below the low of the recent weak NSH? what risk to reward would you look for?

Example for the 3rd of may attached

2. If the market makes a NSH, retraces a bit(not enough to give you a valid entry) and then retests the NSH, afterwards it retraces again into your area of confluence/entry. Would you take this trade knowing that buyers are weak? What RR would you look for?
3. You often mention we are not here to filter out our trades, what if the retracement is a small number of large bars indicating strength in the direction opposite to our expectation.. Would you still take the trade if it reaches our area of confluence with strength? Or would you wait and look for better RR?
4. Gaining confidence to go live once your backtesting proves profitable and detaching yourself from the value of money. Trading futures requires a fairly large account and consecutive losses can be demoralizing.

Your guidance is always appreciated,
Sholan
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: YM 06-18 (233 Tick) 2018_05_03_2.png Size: 61 KB
  • #41,717
  • Jul 9, 2018 1:52pm Jul 9, 2018 1:52pm
Hi Damian,

I'm trying to create a framework, so I can challenge myself to go through some kind of routine before the trading day starts. Still figuring out what works best for me, because I have a daytime job and that makes it difficult to be on top of it. Any feedback, criticism, suggestions, etc. is highly appreciated.

I attached my first analysis on the EUR/USD for tomorrow CEST. Feedback appreciated here as well. Don't spare me.

Below my routine.

  1. Check for major news events that may have an impact on price.
  2. Open the 1597 tick chart, zoom out to a maximum and identify the zones where prices reacted strongly from.
  3. Open the 233 tick chart which will be my chart to trade from.
  4. Zoom out to a maximum and look from a L/T perspective what the expectation is.
  5. Determine L/T momentum, projection, depth and order flow.
  6. Zoom in and determine S/T momentum, projection, depth and order flow.
  7. Determine the AOI for entering trades.

Thanks in advance.

Gunnar

Attached Image(s) (click to enlarge)
Click to Enlarge Name: Analysis Table.jpg Size: 62 KB
Click to Enlarge Name: 1597 Tick.jpg Size: 180 KB
Click to Enlarge Name: 233 Tick.jpg Size: 114 KB
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  • #41,718
  • Jul 9, 2018 5:30pm Jul 9, 2018 5:30pm
Quoting JayTrader
Morning All Hope every one had a great weekend. Only Trade Today +68 Take Care {image}
No you do not have to look at it that way. We obviously had some attempts to correct that just did not Because price has not corrected to either the 38not to immediate structure then I did not find any entries. You can use those attempts to correct that show clear highs and lows and shallow correction for identifying your landmarks NSH, HL
If you fail to plan, you plan to fail.
  • #41,719
  • Jul 9, 2018 5:38pm Jul 9, 2018 5:38pm
Quoting sho16
{quote} Hi Mr Pip, I would appreciate it if you could cover the following: How to trade in the following situations: 1. If the market is moving up without any retracements - this means that buyers are totally in control and you are not really getting a decent retracement to trade off. The market then makes a small retracement that does not touch the 38.2 fib of the current swing. It it then goes on to make a weak NSH, would the next retracement mean an entry and a stop below the low of the recent weak NSH? what risk to reward would you look for?...
We will go over your questions in the live stream and the chart to review
If you fail to plan, you plan to fail.
  • #41,720
  • Jul 9, 2018 5:39pm Jul 9, 2018 5:39pm
Quoting Bruin813
Hi Damian, I'm trying to create a framework, so I can challenge myself to go through some kind of routine before the trading day starts. Still figuring out what works best for me, because I have a daytime job and that makes it difficult to be on top of it. Any feedback, criticism, suggestions, etc. is highly appreciated. I attached my first analysis on the EUR/USD for tomorrow CEST. Feedback appreciated here as well. Don't spare me. Below my routine. Check for major news events that may have an impact on price. Open the 1597 tick chart, zoom out...
We will also go over this and in detail go over my own process in the live stream.
If you fail to plan, you plan to fail.
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