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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

  • #43,081
  • Sep 17, 2018 12:40am Sep 17, 2018 12:40am
Contract rolled over to 6E Z18 (December Contract).
  • #43,082
  • Sep 17, 2018 2:04am Sep 17, 2018 2:04am
Quoting ElMariachi
Contract rolled over to 6E Z18 (December Contract).
abit late seeing this , haha thanks , before this never trade futures contract , i set October see no movement also . thanks
  • #43,083
  • Sep 17, 2018 3:55am Sep 17, 2018 3:55am
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?
Don't give up. Any money that you lost is just tuition fee. My daughter just graduated last year. Her tuition was around 40 grand. I say, stop trading with real money and go back to demo. Demo will help reinforce the rules until they become more of an automatic reaction. Also, it is important to review what Mr. Pip is teaching from time to time.

1. Structure is king. Price almost always retraces to some level of structure. Structure is the area that price moved away from.
2. Structure is the first step to pin pointing stronger supply / demand zones... a.k.a areas of interest.
3. Learn the basic harmonic patterns.. ABCD AB=CD.
4. Look at charts of traders that are full time.
5. Never stop learning and never give up. If Mr. Pip and others can learn this then we all can. Also, the purpose of this thread is to help brave people like you to conquer this market.
6. You can do it!
Luck has no place in trading. Leave that for the poker table.
  • #43,084
  • Sep 17, 2018 6:21am Sep 17, 2018 6:21am
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?
Hello my friend! We are not quitters here. We persevere and overcome. Look me up on Skype I will spend some time with you and break through that barrier that seems to have you in the dumps. Also tomorrow is the live stream tune in ask questions I am here for you to succeed. Pick yourself up and keep moving forward.
If you fail to plan, you plan to fail.
  • #43,085
  • Sep 17, 2018 6:23am Sep 17, 2018 6:23am
Tomorrow is the Live Stream. Looking forward to another great session win lose or draw! We will be there to trade our plan and learn! See you all tomorrow!!!
If you fail to plan, you plan to fail.
  • #43,086
  • Sep 17, 2018 7:17am Sep 17, 2018 7:17am
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?
Don't give up! There's only one thing that can change your situation - to learn from the mistakes. Even the best of the pro's lost money in the beginning. It's part of the game. To deal with the losses are essential for understanding your weak part of your trading-personality - and we all have at least one weak part.
Some weeks ago i opened my first live account with ninja - with a way too small amount of money. Allthough i was very good on the demo- real money is a different game. I was nervous, lousy with my trade plan, i over traded, and especially i've set too tight stops.
I almost lost my entire account. i couldn't believe what was happening. So i stepped back for a week from trading, reflected on my mistakes, created a mindset, and started to be disciplined. How? I knew exactly what i was doing wrong - and if you know this, it's a gift to become better. You just have to embrace it. There's nothing wrong about it. Wrong is to surrender.
My account was down to the minimum margin requirement, in the end i had 1 trade left, hahaa, and now i'm back to 1k. I feel now i'm pretty much under control. i don't trade if the market is choppy, i don't take revenge trades anymore, i'm very patient, i wait for hours until price hits my AOI etc etc..
If not, then no trading. That's an amazing feeling. I hope it stays like this.

I'm pretty sure the guy's here and especially Mr. Pip will help you out to identify what you can improve. Stay in!

Btw...20 minutes meditation before trading is a great tool to be focused
  • #43,087
  • Sep 17, 2018 7:51am Sep 17, 2018 7:51am
I'm short on the Gartley on US30/YM

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  • #43,088
  • Sep 17, 2018 7:54am Sep 17, 2018 7:54am
Quoting PeterT
I'm short on the Gartley on US30/YM {image}
Fast drop, already at BE+2
  • #43,089
  • Sep 17, 2018 7:59am Sep 17, 2018 7:59am
Short
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Luck has no place in trading. Leave that for the poker table.
  • #43,090
  • Sep 17, 2018 8:03am Sep 17, 2018 8:03am
Two entries so far today. Hopefully many more together.
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If you fail to plan, you plan to fail.
  • #43,091
  • Sep 17, 2018 8:04am Sep 17, 2018 8:04am
Finally back to some real trading. I spend allmost whole summer with backtesting and papertrading the D entries of the ABCD. With 300plus trades and every time run and re-run the process it feels very mechanic and the emotions are a lot less. Today 5 trades, 4 BE and 1 small loss. most of them would worked out but I got stopped out at BE a couple of times because of a tiny spike and after that price reached the target. Well that happens when you trade the smaller swings. The last trade also had a lot of confluense but I choose to trade the white ABCD with the correct stop and trademanagement.
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  • #43,092
  • Sep 17, 2018 8:14am Sep 17, 2018 8:14am
Quoting PeterT
{quote} Fast drop, already at BE+2
Giving back a lot of points.
Did not start trailing as 61.8 was not reached yet.
Rules are rules right ..

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  • #43,093
  • Sep 17, 2018 8:19am Sep 17, 2018 8:19am
Quoting PeterT
{quote} Giving back a lot of points. Did not start trailing as 61.8 was not reached yet. Rules are rules right .. {image}
You could if price falls slightly short of your take profit that you lock in 50% of your profit. And to quantify that mechanically you can use the 50% Fib of the pattern.
If you fail to plan, you plan to fail.
  • #43,094
  • Sep 17, 2018 8:25am Sep 17, 2018 8:25am
Quoting Mr. Pip
{quote} You could if price falls slightly short of your take profit that you lock in 50% of your profit. And to quantify that mechanically you can use the 50% Fib of the pattern.
Thanks I'll consider that
Since price came down so quickly with good candles I thought we would get a small correction and continuation to the downside.
  • #43,095
  • Sep 17, 2018 8:25am Sep 17, 2018 8:25am
Hi Mr Pip,

Can I ask you something about the YM chart today?

I noticed that YM did formed a really nice Gartley Chart today on YM12-18. But because of the fact that for nearly 2 months I didn't do trading, so I'm kind of confused I don't know whether if I'm doing right. So can you please correct me if I did something wrong here?

For candle 1, I saw that the wing didn't complete the 1-1 move, so I didn't take the trade & continue to wait for another chance. It did bounce a couple time before the candle 2 appeared. I like that 1-1 move was achieved, but to me, I don't consider this candle is a rotation candle & I missed the trade and the Gartley did a nice retracement to the downside.

P/S: God knows how much I missed trading. Feel so good to be back here.
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  • #43,096
  • Sep 17, 2018 8:29am Sep 17, 2018 8:29am
Quoting PeterT
{quote} Giving back a lot of points. Did not start trailing as 61.8 was not reached yet. Rules are rules right .. {image}
A lot of buying in this area.
End of trading session coming closer.
Locked in +20

EDIT: out with +20

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  • #43,097
  • Sep 17, 2018 8:44am Sep 17, 2018 8:44am
Quoting PeterT
{quote} Thanks I'll consider that Since price came down so quickly with good candles I thought we would get a small correction and continuation to the downside.
I hear you but the expectation is for a HL and a NSH. Keep that in mind
If you fail to plan, you plan to fail.
  • #43,098
  • Sep 17, 2018 8:53am Sep 17, 2018 8:53am
Quoting Null00
Hi Mr Pip, Can I ask you something about the YM chart today? I noticed that YM did formed a really nice Gartley Chart today on YM12-18. But because of the fact that for nearly 2 months I didn't do trading, so I'm kind of confused I don't know whether if I'm doing right. So can you please correct me if I did something wrong here? For candle 1, I saw that the wing didn't complete the 1-1 move, so I didn't take the trade & continue to wait for another chance. It did bounce a couple time before the candle 2 appeared. I like that 1-1 move was achieved,...
Keep in mind that the PRZ for the Gartley is between the 78.6 og the XA leg and the 127.2 of the AB leg. Getting in early is not that big a deal just understand you are getting in early and you have to be more tolerant of price moving against you.
Attached Image (click to enlarge)
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If you fail to plan, you plan to fail.
  • #43,099
  • Sep 17, 2018 8:56am Sep 17, 2018 8:56am
Quoting Pair-me-up
Short {image}

Stopped out at BE.
Luck has no place in trading. Leave that for the poker table.
  • #43,100
  • Sep 17, 2018 9:24am Sep 17, 2018 9:24am
I saw more on NQ today. However, price reacted rubbish in the upper area, so prefered to quit.
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