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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

  • #43,101
  • Sep 17, 2018 11:59am Sep 17, 2018 11:59am
Quoting Nikster
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...
You start to do high frequency trading.
  • #43,102
  • Sep 17, 2018 12:00pm Sep 17, 2018 12:00pm
Quoting Mr. Pip
{quote} 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. {image}
Thank you so much xD
  • #43,103
  • Sep 17, 2018 12:08pm Sep 17, 2018 12:08pm
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?
Wnabo,

you showed already courage by making your statement.

I would recommend to show us what you are doing by using a demo account. This way, you can concentrate on your skills and do not need for the moment to worry about further losses.
Maybe, there is a systematic mistake which will be spotted.
  • #43,104
  • Sep 17, 2018 12:21pm Sep 17, 2018 12:21pm
Short again. Last trade and then bed time.
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.
  • #43,105
  • Sep 17, 2018 12:30pm Sep 17, 2018 12:30pm
Quoting Mr. Pip
{quote} I hear you but the expectation is for a HL and a NSH. Keep that in mind
Is this still based on the white swing from last week?
Attached Image (click to enlarge)
Click to Enlarge Name: YM 12-18 (233 Tick) 2018_09_17 (19_28_49).png Size: 48 KB
  • #43,106
  • Sep 17, 2018 12:37pm Sep 17, 2018 12:37pm
Update on my short: Getting closer to TP.
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.
  • #43,107
  • Sep 17, 2018 12:47pm Sep 17, 2018 12:47pm
Quoting Pair-me-up
Update on my short: Getting closer to TP. {image}
Price just stalled and it is way past my bed time. Cut it lose for +50
Luck has no place in trading. Leave that for the poker table.
  • #43,108
  • Sep 17, 2018 1:47pm Sep 17, 2018 1:47pm
Quoting evocpr19
{quote} You start to do high frequency trading.
Haha Yes I know, the swings were pretty small today
  • #43,109
  • Sep 17, 2018 3:34pm Sep 17, 2018 3:34pm
Quoting Pair-me-up
{quote} Price just stalled and it is way past my bed time. Cut it lose for +50
Congrats Pair me up
I don't understand your trade completely, would you mind clarifying?
Do you follow Mr. Pip rules or your own variation of it?
I mean which was the entry candle, what swing were you trading, what made you go to BE, how do you determine your profit target, where was your stop initially?
And do you trail or just put a target and wait for it to be hit.
Thanks
Sorry for all the questions
  • #43,110
  • Sep 17, 2018 7:17pm Sep 17, 2018 7:17pm
Quoting Bruin813
{quote} Is this still based on the white swing from last week? {image}
Sorry for the late response, yes.
If you fail to plan, you plan to fail.
  • #43,111
  • Sep 17, 2018 9:43pm Sep 17, 2018 9:43pm
Quoting PeterT
{quote} Congrats Pair me up I don't understand your trade completely, would you mind clarifying? Do you follow Mr. Pip rules or your own variation of it? I mean which was the entry candle, what swing were you trading, what made you go to BE, how do you determine your profit target, where was your stop initially? And do you trail or just put a target and wait for it to be hit. Thanks Sorry for all the questions
I am still learning to apply the rules that Mr. Pip has. I do have some of my own things as well. I have discussed these with Mr. Pip and a couple of other traders on the thread. For candle entry I would consult with Mr. Pip. My timing for entries is rubbish. ha ha ha For stops and losses.... I use NinjaTrader8 to preset my stops and take profit. However, once I enter the market I can manual move them around to where I see fit. I will try to have a specific take profit, but if I see that price is accelerating toward my TP. Then I will start to trail and extend my take profit.

I was trading the dominant swing of a main swing. Have you seen my notes that I posted. They may or may not be correct. ha ha ha

I do follow the concept of situational awareness. Mr. Pip goes into a lot more details on his earlier videos and posts. Look at some of the charts that he has posted with detailed commentary on. For example... https://www.forexfactory.com/showthread.php?p=6251151#post6251151

Also, nothing wrong with your questions.

I have some questions for you now.
Have you read the YTC books from Lance Beggs? Have you read the Harmonic books by Scott Carnie?
Have you watched all the videos from Mr. Pip to see how he applies the info from Lance Beggs and Scott Carnie in a highly effective manner?

Have you studied many of his charts? Have you studied the charts of evocpr19, Sheep44, JayTrader, etc?

I am still demo trading, I don't want to mislead you with wrong info. I am still a student like yourself. I even look at your charts to see what I can get out of them. I feel like the more I learn, the less I know. However, as you learn more...go back and review those videos. o.k. I will shut up now. ha ha ha

See you tonight for the live stream.
Luck has no place in trading. Leave that for the poker table.
  • #43,112
  • Sep 17, 2018 10:06pm Sep 17, 2018 10:06pm
Here PeterT

If this has any value let me know.


I think that the strongest 1 to 1 completions are the ones that are inline with order flow.

So, from my expectation, I was expecting a new structure low. However, these trades that we all take are based on probabilities. I could have been wrong. Win some lose some. Hopefully we can all win more than we lose.
Attached Image (click to enlarge)
Click to Enlarge Name: YM 09-18 (1597 Tick).png Size: 64 KB
Luck has no place in trading. Leave that for the poker table.
  • #43,113
  • Sep 18, 2018 1:40am Sep 18, 2018 1:40am
Hi guys,

I took a short trade on YM. We had strong NSL. I was waiting for a correction to the s tructure area. Price corrected back to 61.8 fibo and there was a rotation candle too. I took short and placed SL over previous high. My thoughs what may have gone wrong are as there was strong NSL I should have expected weak correction and I should have passed on trade when price climbed further up or the price just did not play after my rules and broke previous high. I will appreciate any comments. Do you think I made any mistake? Thanks.
Attached Image (click to enlarge)
Click to Enlarge Name: YM 12-18 (233 Tick) 2018_09_18 (8_30_53).png Size: 137 KB
  • #43,114
  • Sep 18, 2018 2:01am Sep 18, 2018 2:01am
Quoting Pair-me-up
{quote} I am still learning to apply the rules that Mr. Pip has. I do have some of my own things as well. ...
Thanks. I have read a few books and watched the videos.
Don't worry about giving me wrong info. Everybody has their own way of trading and their own rules.
I was just trying to understand your reasons for entering, and the way you manage the trade.
I filter out what I don't need or don't agree with
  • #43,115
  • Sep 18, 2018 2:24am Sep 18, 2018 2:24am
Quoting Pair-me-up
Here PeterT If this has any value let me know. I think that the strongest 1 to 1 completions are the ones that are inline with order flow. So, from my expectation, I was expecting a new structure low. However, these trades that we all take are based on probabilities. I could have been wrong. Win some lose some. Hopefully we can all win more than we lose. {image}
OK thanks for the explanation.
  • #43,116
  • Sep 18, 2018 2:46am Sep 18, 2018 2:46am
Second trade for day. My first (a loss -12) was a buy on the shorter term expectation on the rotation candle just below 61.8% (fib not present). Perhaps could have used a bit of discretion and not entered as we have broken longer term resistance (I have noticed a lot of the time a complex correction occurs afterwards) and Euro just kicked in.... they always want a piece of the pie.

Trading the longer term expectation but so far unconvincing. Will reverse expectations and start again if fails.

Attached Image (click to enlarge)
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(Trades don't show on my offline charts so have had to mark it in)
As the lights go by so too do the shadows move
  • #43,117
  • Sep 18, 2018 3:00am Sep 18, 2018 3:00am
Quoting majrou666
Hi guys, I took a short trade on YM. We had strong NSL. I was waiting for a correction to the s tructure area. Price corrected back to 61.8 fibo and there was a rotation candle too. I took short and placed SL over previous high. My thoughs what may have gone wrong are as there was strong NSL I should have expected weak correction and I should have passed on trade when price climbed further up or the price just did not play after my rules and broke previous high. I will appreciate any comments. Do you think I made any mistake? Thanks. {image}
Expectation was NSL
Good projection, strong impulse.
Expected shallow to mid correction, but there was no good structure there.
You got a deeper 61.8 correction at structure, giving you better R:R
Rotation candle for entry.
In my opinion nothing wrong with it.
It was a good trade, you followed your rules.
It just didn't work out and it is "NEXT".
  • #43,118
  • Sep 18, 2018 5:25am Sep 18, 2018 5:25am
Quoting PeterT
{quote} Expectation was NSL Good projection, strong impulse. Expected shallow to mid correction, but there was no good structure there. You got a deeper 61.8 correction at structure, giving you better R:R Rotation candle for entry. In my opinion nothing wrong with it. It was a good trade, you followed your rules. It just didn't work out and it is "NEXT".
Thank you. I have a feeling I can pick tops and bottoms of the price but in wrong direction
  • #43,119
  • Sep 18, 2018 5:35am Sep 18, 2018 5:35am
Quoting Pair-me-up
Here PeterT If this has any value let me know. I think that the strongest 1 to 1 completions are the ones that are inline with order flow. So, from my expectation, I was expecting a new structure low. However, these trades that we all take are based on probabilities. I could have been wrong. Win some lose some. Hopefully we can all win more than we lose. {image}
Your expectation failure should have been a bit lower as support was lower in line with a prior swing low. That's a problem i often see on some of the charts. People mark the many swings/legs correctly and use shorter swings to identify a change of behavior as you did.
  • #43,120
  • Sep 18, 2018 5:40am Sep 18, 2018 5:40am
Quoting crixus
{quote} Your expectation failure should have been a bit lower as support was lower in line with a prior swing low. That's a problem i often see on some of the charts. People mark the many swings/legs correctly and use shorter swings to identify a change of behavior as you did.

You are correct. However, it was past midnight my time. I didn't have time to manage it. I am a teacher, so I need all the sleep I can get. It takes a lot of energy to teach rambunctious children.
Luck has no place in trading. Leave that for the poker table.
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