Menu
Sister Sites

Options

Bookmark Thread

First Page First Unread Last Page Last Post

Print Thread

Similar Threads

"Ratios & Harmonics: a Different Way to Trade." Summary 37 replies

Learning to trade with harmonics 11 replies

Time for Change - Pivots & Harmonics to freedom 67 replies

180 reasons to trade Harmonics and Patterns 13 replies

Group Trading based on Elliott wave and Harmonics 0 replies

Attachments: Ratios & Harmonics: a Different Way to Trade
Exit Attachments

Ratios & Harmonics: a Different Way to Trade

stoped out +25
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot (25).png Size: 57 KB
Quoting Sip
stoped out +25{image}
It is like from a textbook (beside a bit late entry). Congrats.
233T not working today for me.
YM - Took two trades today. -85P.
Attached Image (click to enlarge)
Click to Enlarge Name: YM 09-18 (233 Tick) 2018_08_31 (18_01_28).png Size: 65 KB
....and this is how my day ended.
+ 31 points (as YM points)

Any comment about my entries? Anything you would have done differently?
Attached Image (click to enlarge)
Click to Enlarge Name: NQ 09-18 (233 Tick) 2018_08_31.png Size: 119 KB
Quoting Hansl
YM - Took two trades today. -85P. {image}
I took 2 trades also, first one was short the second was long, then i realized i was trading the wrong swing
-29 & -38
Attached Image (click to enlarge)
Click to Enlarge Name: YM 09-18 (233 Tick) 2018_08_31 (7_25_02 PM).png Size: 47 KB
Quoting sooma22
{quote} I took 2 trades also, first one was short the second was long, then i realized i was trading the wrong swing -29 & -38 {image}
Well, I would not say "wrong". Just another orderflow.
I would consider it 2 expectation failures back to back. There are clear NSLs, however the last one was weak and occurred after 2 100% retracements. It had the higher chance to fail. I would not consider the first blue line 1 swing.

You can always find places for it to turn or fail on higher time frames, but at some point those areas of structure have to fail or market would only go one direction.
Quoting Hansl
YM - Took two trades today. -85P. {image}
I took the same ones. At least I'm doing something right I guess.


The problem I see with this strategy is, that the average loser is still bigger that the average winner.
Yes, we have 70-90% winrate, but that includes all breakeven trades in NT. If we ignore the BE trades, we are more on the 50/50 mark.
I don't get those trades that erase 2-3 losers very often. It's more like small wins here and there from being stopped out, some break even trades, occasionally a trade gets to its profit target and losers.
Quoting JeremyV
{quote} I took the same ones. At least I'm doing something right I guess. The problem I see with this strategy is, that the average loser is still bigger that the average winner. Yes, we have 70-90% winrate, but that includes all breakeven trades in NT. If we ignore the BE trades, we are more on the 50/50 mark. I don't get those trades that erase 2-3 losers very often. It's more like small wins here and there from being stopped out, some break even trades, occasionally a trade gets to its profit target and losers.
70% win rate
one of the solving for BE was to trail more when price create a new structure instead of just BE+5 , example while TP was at 127.20% , after price reach 110% i will now trail more depend on price action where to trail. This ensure my profit dint become BE+5 when price goes to 90% of my profit.
sometime price do fall short of TP ( weakening of trend )

another problem was no entry signal , for this i am still trying but when Expectation was for Weak Correction , i might choose to enter aggressive at 38.20 depend on price action too but maybe with smaller position if the SL are too large.

only when you can take all trade then expectation of 70% will play out.

next was trail aggressive when price reach expected High Resistance area , example Main Swing was expect NSL , now it has goes pass TP price which was 127.20 , at the same time you were trading the smaller orderflow too , at this point you might want to trail more aggressive on these smaller order flow trade when price attempt to go lower to structure or even before reach structure you might decide to go BE as these were high exhaustion area with high probability , and if price retest the low and continue to correct further UP , you might decide not to take the short again. this need to be done by reading order flow strength etc etc , example a very very weak new structure or multiple retest might indicate price would most likely not continue the direction.

above were what i learned this week after some thinking.

We are the driver , we expect something with high probability to happen and we plan how to trade them , sometime thing changes thus our plan , just as a driver we know that most car wont sudden change their lane but when it happen , we need to react , before that there might be some sign it will happen.

the only thing for now that i failed to plan as i not understand the full picture yet was Complex correction , i do trade Main Swing also Intraday Swing , when Main Swing was on Complex correction , my intraday swing will be alot failure.
Attached Image (click to enlarge)
Click to Enlarge Name: 1.png Size: 31 KB
Hey guys,

My summary for August - 20 trades, 15 winners, 5 loosers - 512 pips. Hope you had good month too
Week 35
- 8 trades (+19)
- 3 winners
- 2 losers
- 3 B/E
- Traded 1 contract
- Demo trading

Improvements from last week
a) Only enter on decision candles. No more limit orders.

This one was pretty easy. Entered on decision candles all week.

b) Determine an expectation for a correction based on projection, momentum and depth and wait for this expectation to play out.

Have improved in this area as well, but it is a work in progress.

c) Stick to the order flow that you are trading. Don't switch to longer or shorter term order flows over the course of a trading session.

Watched some live streams that I did not watch yet and this issue was addressed in detail. So I am confident this will continue to improve.

d) Wait for price to develop. If price is in a complex correction for a longer period, be patient and wait for a break of the NSH/NSL or LH/HL.

I was more disciplined in this area, but I still need to work on this a lot.

e) Anything my fellow traders give me feedback on.

No in replies received, so nothing to address for now.


Although I had given myself some improvements to work on last week, I did manage to deviate from my trading plan again and enter trades I should have avoided. My thought process of the trades is on the charts again.

Improvements for next week
a) Determine the right order flow to trade. Remind yourself of the last live streams you have watched where that was addressed in detail.
b) I have noticed I suffer from the syndrome of FOMO (Fear Of Missing Out). Don't do that anymore. Future possibilities will present themselves. Be patient.
c) Stick to your trade plan. Don't trade outside the hours that are in your trade plan.
d) Stop overanalyzing your trades. Like Damian said in one of his live streams. There's only 3 things you have to do:

1. Determine the expectation.

2. Determine how deep of a correction you would expect.

3. Execute when criteria no. 2 is met.


Improvements from last week that are still valid
e) Determine an expectation for a correction based on projection, momentum and depth and wait for this expectation to play out.
f) Stick to the order flow that you are trading. Don't switch to longer or shorter term order flows over the course of a trading session.
g) Wait for price to develop. If price is in a complex correction for a longer period, be patient and wait for a break of the NSH/NSL or LH/HL.
h) Anything my fellow traders give me feedback on.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: YM 09-18 (233 Tick) 2018_08_27 (08_23_26).png Size: 78 KB
Click to Enlarge Name: YM 09-18 (233 Tick) 2018_08_28 (08_04_04).png Size: 65 KB
Click to Enlarge Name: YM 09-18 (233 Tick) 2018_08_29 (08_30_07).png Size: 61 KB
Click to Enlarge Name: YM 09-18 (233 Tick) 2018_08_30 (08_40_20).png Size: 79 KB
Click to Enlarge Name: YM 09-18 (233 Tick) 2018_08_31 (08_52_28).png Size: 70 KB
Quoting Bruin813
Week 35 - 8 trades (+19) - 3 winners - 2 losers - 3 B/E - Traded 1 contract - Demo trading Improvements from last week a) Only enter on decision candles. No more limit orders. This one was pretty easy. Entered on decision candles all week. b) Determine an expectation for a correction based on projection, momentum and depth and wait for this expectation to play out. Have improved in this area as well, but it is a work in progress. c) Stick to the order flow that you are trading. Don't switch to longer or shorter term order flows over the course of...
Very structured approach. It represents a lot of work for you, but on the long run, I think that you will the fruits of investing the time for doing it. Congrats.
Last Week (EurUsd only) M1
8 Trade(+52)
4 wins
1 BE
3 Losses
Quoting Bruin813
Week 35 - 8 trades (+19) - 3 winners - 2 losers - 3 B/E - Traded 1 contract - Demo trading...
I concur with the view expressed by evocpr19. This is how a journal should be done. It is not just here are my trades wthout any explanation but it is clear what your objectives are, you have a plan and things you want to improve. This way you are your own coach.
Quoting evocpr19
{quote} Very structured approach. It represents a lot of work for you, but on the long run, I think that you will the fruits of investing the time for doing it. Congrats.
Quoting crixus
{quote} I concur with the view expressed by evocpr19. This is how a journal should be done. It is not just here are my trades wthout any explanation but it is clear what your objectives are, you have a plan and things you want to improve. This way you are your own coach.
Thanks guys. This keeps me motivated to keep on doing this.
long Eur/Usd off bat pattern
Attached Image (click to enlarge)
Click to Enlarge Name: 20180903A.PNG Size: 98 KB
Quoting liemo
long Eur/Usd off bat pattern {image}
SL taken to BE for risk free trade.
Attached Image (click to enlarge)
Click to Enlarge Name: 20180903B.PNG Size: 87 KB
Quoting liemo
{quote} SL taken to BE for risk free trade. {image}
Trailed stopped the trade. Exited wit 14.5 pips
Attached Image (click to enlarge)
Click to Enlarge Name: 20180903BC.PNG Size: 93 KB
waiting for price to retrace back to 61.8fib for potential long....
Attached Image (click to enlarge)
Click to Enlarge Name: 20180903D.PNG Size: 84 KB
6 traders viewing now