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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

  • #43,061
  • Sep 14, 2018 8:16am Sep 14, 2018 8:16am
Moved my stop loss to lock in at least my daily goal of +20.
Attached Image (click to enlarge)
Click to Enlarge Name: YM 09-18 (233 Tick).png Size: 70 KB
Luck has no place in trading. Leave that for the poker table.
  • #43,062
  • Sep 14, 2018 8:19am Sep 14, 2018 8:19am
Quoting Mr. Pip
Hello Traders, Remember the live stream on Tuesday. I'm really looking forward to spending some quality time with you all. Here is today's trade. {image}
Seeing that I entered around the same area as you is a nice confidence booster. Thanks for the chart!!!!!
Luck has no place in trading. Leave that for the poker table.
  • #43,063
  • Sep 14, 2018 8:21am Sep 14, 2018 8:21am
All these people taking profit and locking in is not really strengthening my confidence in the trade
  • #43,064
  • Sep 14, 2018 8:24am Sep 14, 2018 8:24am
Quoting Pair-me-up
{quote} Seeing that I entered around the same area as you is a nice confidence booster. Thanks for the chart!!!!!
Welcome my friend. I know I haven't been around but I am freeing myself up to spend more time with you all. Tuesday will be a blast!
If you fail to plan, you plan to fail.
  • #43,065
  • Sep 14, 2018 8:28am Sep 14, 2018 8:28am
Quoting Mr. Pip
{quote} Welcome my friend. I know I haven't been around but I am freeing myself up to spend more time with you all. Tuesday will be a blast!

I am glad that you are feeling yourself, amigo. I am excited for your live stream next week. I wouldn't miss it for the world!!
Luck has no place in trading. Leave that for the poker table.
  • #43,066
  • Sep 14, 2018 8:29am Sep 14, 2018 8:29am
Quoting PeterT
{quote} No price barely touched my entry level. I had to decide to get out at BE or leave the trade running. Decided to give it room as I see better bull candles on the 144 tick. Could be wrong though..
At BE now.
Trading time is almost over and I can't wait for new corrections to complete.
I'm just glad I'm out of the trade unharmed
  • #43,067
  • Sep 14, 2018 8:30am Sep 14, 2018 8:30am
I am still long this trade. At this point as I feel as though I am trying to squeeze water out of a rock. ha ha ha
Attached Image (click to enlarge)
Click to Enlarge Name: YM 09-18 (233 Tick).png Size: 70 KB
Luck has no place in trading. Leave that for the poker table.
  • #43,068
  • Sep 14, 2018 8:40am Sep 14, 2018 8:40am
Quoting Pair-me-up
I am still long this trade. At this point as I feel as though I am trying to squeeze water out of a rock. ha ha ha {image}
out at 26203. Alright good night all.

It was nice trading with you PeterT and Mr. Pip.Have a terrific weekend, rest well, have some fun, and I'll see you trade brothers next week!
Luck has no place in trading. Leave that for the poker table.
  • #43,069
  • Sep 14, 2018 8:42am Sep 14, 2018 8:42am
Quoting PeterT
{quote} At BE now. Trading time is almost over and I can't wait for new corrections to complete. I'm just glad I'm out of the trade unharmed
Started trailing decision candles and got taken out for +16
Time to go see you all later

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 88 KB
  • #43,070
  • Sep 14, 2018 8:47am Sep 14, 2018 8:47am
Quoting Prock
{quote} Now that I see a zoomed out screenshot he was indeed trading the expectation of the 233t.
Sorry, but like I said. For me the 233 orderflow was the corrective price action to the downside. And his stop was in the middle of nowhere.
You can't take one isolated swing, just because it retraced to a fib. I mean, yeah you can do whatever you like, but that's not how it is tought int he videos.
Stop below the last swing. In that case below 25940. But still, that swing is the 611T for me, not the 233 one.

Whatever works for you man, as long as you stick to the orderflow you see it doesn't matter what ticksize it is. Still a confusign screenshot


BTW:
I believe you are missing some candles.
Rightcklick --> Reload all historical data.
  • #43,071
  • Sep 14, 2018 9:07am Sep 14, 2018 9:07am
Quoting JeremyV
{quote} Sorry, but like I said. For me the 233 orderflow was the corrective price action to the downside. And his stop was in the middle of nowhere. You can't take one isolated swing, just because it retraced to a fib. I mean, yeah you can do whatever you like, but that's not how it is tought int he videos. Stop below the last swing. In that case below 25940. But still, that swing is the 611T for me, not the 233 one. Whatever works for you man, as long as you stick to the orderflow you see it doesn't matter what ticksize it is. Still a confusign...
Jeremy , can you post a chart about it? As what I can see from their chart was very narrow candle with very strong upward move.
  • #43,072
  • Sep 14, 2018 9:18am Sep 14, 2018 9:18am
Quoting JeremyV
{quote} Sorry, but like I said. For me the 233 orderflow was the corrective price action to the downside. And his stop was in the middle of nowhere. You can't take one isolated swing, just because it retraced to a fib. I mean, yeah you can do whatever you like, but that's not how it is tought int he videos. Stop below the last swing. In that case below 25940. But still, that swing is the 611T for me, not the 233 one. Whatever works for you man, as long as you stick to the orderflow you see it doesn't matter what ticksize it is. Still a confusign...
No Im not missing any candles it’s a new contract/rollover so that’s why my chart is like that. He was trading the HL of the NSH on the 233t but with his first screenshot I didn’t see what he was getting at. And yes SL should have been at 25994 if that’s the swing that was being traded. Anyways have a good weekend.
  • #43,073
  • Sep 14, 2018 9:32am Sep 14, 2018 9:32am
Got myself into some trouble today but managed to get out with +40
Attached Image (click to enlarge)
Click to Enlarge Name: YM 12-18 (89 Tick) 2018_09_14 (12_30_38 PM).png Size: 106 KB
  • #43,074
  • Edited 11:26pm Sep 14, 2018 10:23pm | Edited 11:26pm
Quoting Mr. Pip
Hello Traders, Remember the live stream on Tuesday. I'm really looking forward to spending some quality time with you all. Here is today's trade. {image}
Hello Mr. Pip,

Can you explain your trail on decision candle from 61.8? Was is because of heavy structure? Did you have to leave? Or is it something you always do after an AB=CD completion?

Thanks.

Regrds,

Gunnar
  • #43,075
  • Sep 15, 2018 11:52am Sep 15, 2018 11:52am
Hello guys,

I took the same trade as Mr. Pip, PeterT or Pair-me-up. I have couple of questions. What is the correct place of placing SL for this trade? How should be handled the profit taking? Some fibo level of AB=CD? Or trailing decion candles? But when to start trailing? I added another contract after 1:1 completion. I moved SL over BE but had to go away and I got stopped out. Happy trading.
Attached Image (click to enlarge)
Click to Enlarge Name: YM 12-18 (233 Tick) 2018_09_14 (20_32_04).png Size: 129 KB
  • #43,076
  • Sep 16, 2018 8:52am Sep 16, 2018 8:52am
Week 37
- 4 trades (+27)
- 2 winners
- 2 losers
- Traded 1 contract
- Demo trading

Improvements from last week
Overall I am quite happy with my trading. I was only able to trade 2 days due to a lack of screen time, but I will probably be able to trade all five days in the coming week. Anyway, it ended up to be a profitable week which is always a good thing.

While the following points of attention are still valid, I was able to trade more disciplined than the previous weeks. I will keep the following points on my radar.
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.

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.


I have watched the last live streams where Damian explain his thought process in detail and really gets back to the basics. This is where I somehow got an aha moment in terms of harmonics and the basic question: "What is the market working towards?". Now I understand how this can help my trading and this was also something Parviz1953 was trying to explain to me. For the trading days ahead I will start using this to improve my trading.

Unfortunately I did not find the time to look into last weeks improvements. I think I will give this a little more time to work on.

  1. I will look into creating some kind of framework for myself to be able to determine strength and weakness without overcomplicating things (just some basic questions to answer). This is something that is keeping me busy over the last couple of days. I will keep you updated on that.
  2. Since I deviate from my trading plan so easily, I want to measure my trading a little differently. I am thinking about some kind of a score system to measure if I followed my rules or not. For each score there will be a reward waiting. I will keep you updated on that as well.

Below my charts. Comments are welcome as always.

Regards,

Gunnar

Attached Image(s) (click to enlarge)
Click to Enlarge Name: YM 09-18 (233 Tick) 2018_09_10 (17_52_20).png Size: 70 KB
Click to Enlarge Name: YM 09-18 (233 Tick) 2018_09_12 (17_50_05).png Size: 69 KB
  • #43,077
  • Sep 16, 2018 1:35pm Sep 16, 2018 1:35pm
Quoting Mr. Pip
Hello Traders, Remember the live stream on Tuesday. I'm really looking forward to spending some quality time with you all. Here is today's trade. {image}
maybe you should talk about how to navigate different orderflows at the same time even trade them at the same time since i see that this is the big problem the rest is easy to follow
  • #43,078
  • Sep 16, 2018 7:15pm Sep 16, 2018 7:15pm
Been trading and losing I am thinking of giving up.yes I win some beautiful trades. but they are few and far in between. I am really not getting any head way. account sinking lower and lower hmmn.
Any mentors looking for mentee to take under their wing?
  • #43,079
  • Sep 16, 2018 8:04pm Sep 16, 2018 8:04pm
Quoting wnabo
Been trading and losing I am thinking of giving up.yes I win some beautiful trades. but they are few and far in between. I am really not getting any head way. account sinking lower and lower hmmn. Any mentors looking for mentee to take under their wing?
i cant be your mentor yet , but suggest you post your trade here thus we can give some idea or recommendation and you should slowly improve 1 by 1 , there were alot of thing that adjust 1 by 1 to improve , like focus on order flow first , did i look on wrong order flow , then timing entry , then etc etc .
  • #43,080
  • Sep 16, 2018 10:54pm Sep 16, 2018 10:54pm
Very low volume on 6E tick chart. anyone?
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