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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

  • #42,381
  • Aug 7, 2018 8:05am Aug 7, 2018 8:05am
I guess this is a day to practice discipline. The voices want me to take trades against my trade plan.
  • #42,382
  • Aug 7, 2018 8:05am Aug 7, 2018 8:05am
Quoting Eyesonthepip
{quote} no correction. strong bullish market. i might not be able to enter throughout my trading window. All the best to you. make up for ytd's.
yee i agree it's not in the scope of ratios and harmonics, but based on bar by bar analysis.
I integrated this specific scenario into my trade plan, because i consider the bar by bar analysis
as a crucial part of PA.
My ROE says the requirements are strong bullish / bearish movement, absorption candles + rotation candle.
Because there's no projection, i allow the trade to have a tight SL. Most of the times the RR is good.

What means ytd ?
  • #42,383
  • Aug 7, 2018 8:07am Aug 7, 2018 8:07am
Quoting MarkStan
{quote} yee i agree it's not in the scope of ratios and harmonics, but based on bar by bar analysis. I integrated this specific scenario into my trade plan, because i consider the bar by bar analysis as a crucial part of PA. My ROE says the requirements are strong bullish / bearish movement, absorption candles + rotation candle. Because there's no projection, i allow the trade to have a tight SL. Most of the times the RR is good. What means ytd ?
good trade plan. Ytd stands for yesterday.
  • #42,384
  • Aug 7, 2018 8:45am Aug 7, 2018 8:45am
Quoting Justaguy
I guess this is a day to practice discipline. The voices want me to take trades against my trade plan.
This was for me the hardest part. I mean i'm still a beginner but since i learned to resist, my trading and especially my P&L improved massively.
  • #42,385
  • Edited 3:26pm Aug 7, 2018 9:02am | Edited 3:26pm
Short Eurusd

SL was at top but not expecting a deep corrections due to current correction weaknesses and the previous swing could already completed the complex/deep correction for this new structure low. SL still where it need to be.

Updare : another BE trade , now price has a 100% correction.
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  • #42,386
  • Aug 7, 2018 9:16am Aug 7, 2018 9:16am
I didn't find good opportunities in the YM today. This is my only trade of the day in NQ
Attached Image (click to enlarge)
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  • #42,387
  • Aug 7, 2018 11:46am Aug 7, 2018 11:46am
very slow market on the YM today with no opportunities present.

Anyone trade the S&P500 or NQ? How are the average stops in $ amount taking into account trading order flow?
  • #42,388
  • Aug 7, 2018 12:01pm Aug 7, 2018 12:01pm
I think I missed my rotation candle. I was thinking with the lower low that PA may get to the 61.8.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd 38.png Size: 29 KB
As the lights go by so too do the shadows move
  • #42,389
  • Aug 7, 2018 12:09pm Aug 7, 2018 12:09pm
Quoting Eyesonthepip
In short. absorption, and rotation. target 61.8 ret. Edit: SL Hit. {image}
is that renko chart you have there? do you combine ratio and harmonics with other indicator?
Profit growth tells you the trader ability.
  • #42,390
  • Aug 7, 2018 12:19pm Aug 7, 2018 12:19pm
Ym was slow and ranging today
-20 points
2 breakeven
Attached Image (click to enlarge)
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  • #42,391
  • Aug 7, 2018 2:50pm Aug 7, 2018 2:50pm
Quoting Matts Micro
I think I missed my rotation candle. I was thinking with the lower low that PA may get to the 61.8. {image}
The preceding high of this Low hasn't been taken out. I think it could still go back to the 61.8 range.
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  • #42,392
  • Aug 7, 2018 4:37pm Aug 7, 2018 4:37pm
Quoting voketexpert
{quote} is that renko chart you have there? do you combine ratio and harmonics with other indicator?
Nope. Just regular candlesticks with no other indicators.
  • #42,393
  • Aug 7, 2018 8:11pm Aug 7, 2018 8:11pm
Quoting fxcatty
{quote} The preceding high of this Low hasn't been taken out. I think it could still go back to the 61.8 range. {image}
I was thinking the same but the high just got taken. We are on the way up. Will have to wait for the next HL. My finger hovered over the buy button. Would have liked Mr Pips advice for this one to see what he would have read.

No stress, next trade.
As the lights go by so too do the shadows move
  • #42,394
  • Aug 7, 2018 10:40pm Aug 7, 2018 10:40pm
Quoting Matts Micro
I think I missed my rotation candle. I was thinking with the lower low that PA may get to the 61.8. {image}
Waiting to see if the bulls come back in at the 38.2. The HH is a heavy resistance zone however so will wait for response in zone, may get to the 78.6.
Attached Image (click to enlarge)
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As the lights go by so too do the shadows move
  • #42,395
  • Aug 7, 2018 11:18pm Aug 7, 2018 11:18pm
Good morning guys,

I can use some feedback on a trade I took yesterday.

Nothing much about the entry. Pretty standard, I guess. After entry I immediately identified a zone for moving the S/L to B/E and a zone for profit taking (first picture).

In the second picture I move my S/L to B/E, because price got to the first zone. Still pretty standard.

Now the third picture is what it is all about actually. Price fell short of my target about 3-4 ticks and I finally had to give all my (virtual) profits back to the market. How do you guys handle these kind of situation?

a) Do you just accept it and hear Damian in the back of your head say: "It is as it is."?
b) Do you always trail behind structure to at least lock in some profit and how has this been working out for you? No premature exits?
c) Do you immediately start trailing behind decision candles and how has this been working out for you so far? No premature exits?
d) Are there other trailing or take profit strategies out there that I'm not aware of yet?

Looking for a rule to add to my trading plan that I'm comfortable using, so any suggestions are welcome.

Thanks.

Regards,

Gunnar
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  • #42,396
  • Aug 7, 2018 11:20pm Aug 7, 2018 11:20pm
Quoting Matts Micro
{quote} Waiting to see if the bulls come back in at the 38.2. The HH is a heavy resistance zone however so will wait for response in zone, may get to the 78.6. {image}
Entered long. It is a sharp pullback but had entry signal with a few tails top side which meant bulls were fighting.

Attached Image (click to enlarge)
Click to Enlarge Name: eurusd 40.png Size: 28 KB


If anybody spots mistakes let me know
As the lights go by so too do the shadows move
  • #42,397
  • Edited 12:39am Aug 8, 2018 12:13am | Edited 12:39am
Quoting Matts Micro
{quote} Entered long. It is a sharp pullback but had entry signal with a few tails top side which meant bulls were fighting. {image} If anybody spots mistakes let me know
I will look at the 1 to 1 swing as a swing ( price corrected to 38.20 )

now looking at 89tick to enter long
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  • #42,398
  • Aug 8, 2018 12:45am Aug 8, 2018 12:45am
Quoting Bruin813
Good morning guys, I can use some feedback on a trade I took yesterday. Nothing much about the entry. Pretty standard, I guess. After entry I immediately identified a zone for moving the S/L to B/E and a zone for profit taking (first picture). In the second picture I move my S/L to B/E, because price got to the first zone. Still pretty standard. Now the third picture is what it is all about actually. Price fell short of my target about 3-4 ticks and I finally had to give all my (virtual) profits back to the market. How do you guys handle these kind...
Good morning traders!

I trail my stop to BE if 1:1 RR has been reached. Followed by a trailing to structure if the projection has a big distance.
If price get's only close to the target and reverses, i wait, if i get stopped out at the trailed stop - it's ok.
But what i do is i write all trades down in a excel trade manager, or journal, however you want to call it. In this manager i can state
TP target hit? YES/NO, SL Hit YES/NO, Trailed SL Hit YES/NO, and Projection fulfilled? YES/NO (projection fulfilled within the session, not the next day). This gives me after a time a decent overview where my tradeplan sucks and where my weak and strong trading behaviours are. Because not long time ago i used to exit manually if price was close to TP but reversed. The journal showed me that if i would wait, in 90% of these cases the TP would have been hit later!
  • #42,399
  • Aug 8, 2018 1:01am Aug 8, 2018 1:01am
Quoting Matts Micro
{quote} Entered long. It is a sharp pullback but had entry signal with a few tails top side which meant bulls were fighting. {image} If anybody spots mistakes let me know
Stopped out. I moved my stop to below the current swing when I saw we weren't going to get a another HH. With a LH and LL expectancy has changed to down side.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd 41.png Size: 38 KB
As the lights go by so too do the shadows move
  • #42,400
  • Aug 8, 2018 1:12am Aug 8, 2018 1:12am
Quoting 6288monkey
{quote} I will look at the 1 to 1 swing as a swing ( price corrected to 38.20 ) now looking at 89tick to enter long {image} {image}
I made mistake with my entry. I knew it didn't look right but couldn't put my finger on it. When i took the trade price was accelerating toward end of correction instead of start. Hint was that further correction on its way.
As the lights go by so too do the shadows move
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