Ratios & Harmonics: a Different Way to Trade | Page 2192 | Forex Factory

Options

Go to
Permalinks
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

  • #43,821
  • Nov 3, 2018 12:52pm Nov 3, 2018 12:52pm
Hi all,

Didn't post my trades since Tuesday.

1. Wednesday was terrible and undisciplined day -159 points
2. Thursday + 95 points
3. Friday + 139 points
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 01.11.2018 (+95).png Size: 102 KB
Click to Enlarge Name: 02.11.2018 (+139).png Size: 75 KB
Click to Enlarge Name: 31.10.2018 (-159).png Size: 66 KB
  • #43,822
  • Nov 4, 2018 5:32am Nov 4, 2018 5:32am
Quoting Pair-me-up
{quote} Thanks for the words of encouragement. 1. Questions are easy, answers are sometimes tough. ha ha ha I believe that one has to be at least successful on demo if they are to have a chance to be successful with real money. 2. When I read your comment about being lent money through Top Stop, the first thought that crossed my mind was. Did you use it yourself with a good experience and thus are promoting them? The other thing that crossed my mind is an ancient Japanese proverb..."Free is the most expensive"... What's in it for Top Stop? 3. Just...
Sorry for not answering sooner, I also haven't traded since that day..my grandfather broke 2 ribs and I have been taking care of him and some of the chores around his house. I will continue trading tomorrow.
1. I agree with you.
2. No, I haven't used them but I just wanted to share it with you because you have skills to trade and I'd love to see you make it in this business. Well, Topstep earns money when you pay to take there combines.
3. I've read good and bad things on different credible sites so I have mixed views on them.
4. I don't share the same views with you on the topic of "luck". Life is what you call luck. It's luck that you weren't born in Africa with no food. And luck has a role in trading too. If you enter a trade based on your rules and the market crashes at the exact same moment you will get a lot of slippage (having in mind how low is the liquidity this days the effect is even bigger) and a big chunk of your account might be gone. You can't deny that there is a role for luck in trading but it's our job to trade our rules despite what "luck" has in store for us
  • #43,823
  • Nov 4, 2018 7:19pm Nov 4, 2018 7:19pm
Quoting x3m-PippiN
{quote} Sorry for not answering sooner, I also haven't traded since that day..my grandfather broke 2 ribs and I have been taking care of him and some of the chores around his house. I will continue trading tomorrow. 1. I agree with you. 2. No, I haven't used them but I just wanted to share it with you because you have skills to trade and I'd love to see you make it in this business. Well, Topstep earns money when you pay to take there combines. 3. I've read good and bad things on different credible sites so I have mixed views on them. 4. I don't...

Sorry to hear about your grandfather. I hope he feels better and that his rib bones heal fast. It must be hard for him to breathe under those circumstances.

Thanks for your feed back. Yes, I wasn't born in Africa. My father's family is North American. We have lived there for over 20,000 years. A few hundred years ago or so, Europeans came a long and performed one of the largest Genocides against us in history, but noone really talks about how the Europeans and other settlers made a muck of our great land and forced us on to reservations and making us some of the poorest people in the world with an extremely high suicide rate.

Now you know where I was born and you don't have to guess. ha ha ha

Anyways... being cynical optimist like me... Life wasn't that easy. However, I figured it is my life and I won't wait for luck to come to me. Assuming that luck is another word for good fortune. Of course there are different situations of chance. For example flipping a coin. I however, come to the market to take a chance that my interpretation of the market moves will be correct. Therefore I must do market research before I enter every trade.

For example.... if a person decides to open up an restaurant in a particular area, I would assume that they would do market research in that area to find out if the people in that area like the food that will be served. If the market research says yes, then they open up a restaurant position. They have now risked their capital on the restaurant trade. There is a high chance from their market research that they will be profitable, yet there is also a chance that people in the area might not be able to afford it. Thus not researching the income for that area as well, would be the same as trading what an individual thinks and not what they see.

So, I do believe in one kind of luck only. That is bad luck.... If I do well, then chances are I did my research correctly. If I fail, it was just bad luck... lol

Anyways, I think that I have a lot to learn in this market. However, once I feel that I am more skilled I will do my best to help others to improve as well.

Anyways, I agree with you about the liquidity.

I think it is due to the midterm elections in the United States. After all. the YM is a stock index of blue chip companies.

One think that I look at sometimes are the interest rates and occasionally I will bring up a chart of the US bond market, since that market is much larger than the stock market and has a strong impact on indices.

Again, I hope your grandfather feels better and heals fast.

I wish you good fortune my brother!
Luck has no place in trading. Leave that for the poker table.
  • #43,824
  • Edited 10:45pm Nov 4, 2018 7:32pm | Edited 10:45pm
Alright, I will work harder on my harmonics this week. It seems like their are tons of harmonic numbers to memorize. So, I decided to have a little bit of fun with NinjaTrader8 and make a color coordinated template for my AB=CD pattern. I have started making templates for some other patterns as well. I will see how it goes.

I picked off a + 10 point trade a little while ago this morning. My current trade is a bit negative, but I want too see how well my color coordinated ratios and extensions play out.
Attached Image (click to enlarge)
Click to Enlarge Name: YM 12-18 (89 Tick).png Size: 65 KB
Luck has no place in trading. Leave that for the poker table.
  • #43,825
  • Nov 5, 2018 3:01am Nov 5, 2018 3:01am
Quoting Pair-me-up
Alright, I will work harder on my harmonics this week. It seems like their are tons of harmonic numbers to memorize. So, I decided to have a little bit of fun with NinjaTrader8 and make a color coordinated template for my AB=CD pattern. I have started making templates for some other patterns as well. I will see how it goes. I picked off a + 10 point trade a little while ago this morning. My current trade is a bit negative, but I want too see how well my color coordinated ratios and extensions play out. {image}

Stopped out negatively more than I wanted. My ISP was down for a few hours and when I got back to my charts it stopped me out for more than I set my stop loss to. Well.. what can I say? It is a demo account.

Next.
Luck has no place in trading. Leave that for the poker table.
  • #43,826
  • Nov 5, 2018 4:28am Nov 5, 2018 4:28am
Quoting Roulette
{quote} That's a pretty ignorant thing to say. Africa is a big continent for such a silly and disdainful indictment. I could say that I'm lucky to have been born in the US instead of Bulgaria.
I agree..Africa is huge but there are parts where people die from hunger not all over Africa of course..I was trying to make a simple point without going into too much detail.
Well, yes my friend..you are lucky if you know how to take advantage of that fact.
  • #43,827
  • Nov 5, 2018 4:32am Nov 5, 2018 4:32am
Quoting x3m-PippiN
{quote} I agree..Africa is huge but there are parts where people die from hunger not all over Africa of course..I was trying to make a simple point without going into too much detail. Well, yes my friend..you are lucky if you know how to take advantage of that fact.
My apologies then. I do agree with your above statement. I have deleted my original post which was in haste.
  • #43,828
  • Nov 5, 2018 7:09am Nov 5, 2018 7:09am
Tried today Damian's arrow. I took a bigger one, only to be on the safe side.
Attached Image (click to enlarge)
Click to Enlarge Name: 1a.jpg Size: 309 KB
  • #43,829
  • Nov 5, 2018 7:18am Nov 5, 2018 7:18am
Quoting evocpr19
Tried today Damian's arrow. I took a bigger one, only to be on the safe side. {image}
Nice I got short at 327 but got shook out for +10 before the drop. I forgot to draw the arrows.
  • #43,830
  • Nov 5, 2018 7:33am Nov 5, 2018 7:33am
Quoting evocpr19
Tried today Damian's arrow. I took a bigger one, only to be on the safe side. {image}

Nice trade. Although I am trying to practice more on the 89 tick.. I kind of cheated and looked up.

If price stays about 25257 then I would forecast the bulls to try to run it up to 25557- ish.

If it is below 25257 then I would forecast the bears trying to drive it on down to 24971 ish.
Attached Image (click to enlarge)
Click to Enlarge Name: YM 12-18 (240 Minute).png Size: 52 KB
Luck has no place in trading. Leave that for the poker table.
  • #43,831
  • Nov 5, 2018 8:07am Nov 5, 2018 8:07am
Hello traders. I took only 3 trades, 2 BE and a small winner. To don't get confused with the orderflow I draw the OF so I know where to put my stop and to see when the expectation fails. After the 3th trade I wanted to see what the market would do next because of the target reached of the large ABCD (yellow lines) and taking a short would be risky and I was glad I didn't took a short
Attached Image (click to enlarge)
Click to Enlarge Name: YM 12-18 (144 Tick) 2018_11_05 (17_03_43)q.png Size: 113 KB
  • #43,832
  • Nov 5, 2018 8:14am Nov 5, 2018 8:14am
Quoting bmdenton23
{quote} Nice I got short at 327 but got shook out for +10 before the drop. I forgot to draw the arrows.

I was a bit concerned on this one, got taken out by trailing hard on both trades
  • #43,833
  • Nov 5, 2018 8:58am Nov 5, 2018 8:58am
5 trades today
+10, +1, +1
-28, -15
----------------------
Total -31
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 96 KB
Click to Enlarge Name: Screenshot2.png Size: 116 KB
Click to Enlarge Name: Screenshot3.png Size: 105 KB
  • #43,834
  • Nov 5, 2018 9:14am Nov 5, 2018 9:14am
Only one trade today. +70P.
Attached Image (click to enlarge)
Click to Enlarge Name: YMZ8-CBOT 233 Trades #1 2018-11-05 12_11_40.297.png Size: 47 KB
  • #43,835
  • Nov 5, 2018 10:11am Nov 5, 2018 10:11am
-18 +2 +25 +52 -62 -12

Total -13 points
Attached Image (click to enlarge)
Click to Enlarge Name: YM 12-18 (144 Tick) 2018_11_05 (7_08_26 PM).png Size: 98 KB
  • #43,836
  • Nov 5, 2018 11:44pm Nov 5, 2018 11:44pm
I took this long trade last night just before I went to sleep. I was somewhat confident the bulls would be herded in the right direction. Locked some in.

I think tonight will be quite interesting.
Attached Image (click to enlarge)
Click to Enlarge Name: YM 12-18 (233 Tick).png Size: 50 KB
Luck has no place in trading. Leave that for the poker table.
  • #43,837
  • Nov 6, 2018 1:54am Nov 6, 2018 1:54am
Quoting Pair-me-up
I took this long trade last night just before I went to sleep. I was somewhat confident the bulls would be herded in the right direction. Locked some in. I think tonight will be quite interesting. {image}
My stop got hit while I was teaching my students.
Luck has no place in trading. Leave that for the poker table.
  • #43,838
  • Nov 6, 2018 7:39am Nov 6, 2018 7:39am
Finally, My account is break even after being red for 1 and a half month.

I got so much experience from trading this account .

The more I trade the more I see flaw on my trade plan.Therefore,I constantly refined my crystal ball ,the way of analyzing,add more rules,change some rules and even dump some of it.

Other than trading itself, Which pair I trade,how many pairs and how many tick I trade are also played a huge part on my learning curve.

I hope this will help someone that trade forex like me.

1. red zone - I start with trading EU in 89 tick chart, rarely trade since my disciple was still low.

2. yellow zone - I switched to UJ and trying to stay disciple with my routine.

3. black zone - I need more frequency so I trade 2 piars EJ and GJ on 50 tick chart.

4.green zone - As Mr.pip said trading multiple pairs is really hard for intraday trader like us so I change to trade only GJ on 50 tick chart since it moving quick suit our style and .. eh I don't know how to say it , GJ pip range is higher that other pair so I can freely change how many lot I trade since I trade 1 R per order.

5.pink zone - I just change from 50 tick to 20 tick chart but result was enormous, It was very exciting to trade on fast pace, I can easily see flaw on my trade plan and I get a chance to trade with more frequency hence I got more experience and money. oh I also start to believe in my trade plan and enter the trade even my gut said not to but yeah TRADE PLAN > MY EMOTION.
Attached Image (click to enlarge)
Click to Enlarge Name: mystatement.jpg Size: 78 KB
  • #43,839
  • Nov 6, 2018 8:59am Nov 6, 2018 8:59am
Damian what a great teacher you are sir. I started learning your method about a year ago and at the time, I felt that the content was really over my head. Because of this, I moved on and found limited success with other methods.

During this time, I learned quite a bit about price action and supply/demand as well as market structure. I came back to your content on youtube about 1 month ago and everything was just so much more clear - it made sense to me.

Today, I took my first demo trades using a 144 tick chart on the dow 30 and profited on 3 of 4 with 1 break even. I passed on 3 other trades that I wasn't 100% sure on - all 3 went straight into profit.

Don't know if I was lucky or good but time will tell.

Thanks for giving back!

Attached Image
Blessed is the one who takes refuge in Him.
  • #43,840
  • Nov 6, 2018 9:13am Nov 6, 2018 9:13am
Quoting parviz1953
Hi all : For those who is looking for a good tick chart emulator on MT4, this is a nice one: 1) put it in indicator folder. 2) run it , on any pair 1M chart. 3) input the number of tick in its input screen. it will automatically open a new offline tick chart, and start to gradually populate the chart with tick bars as it proceed. {file}

Thanks for this. Works great.
Blessed is the one who takes refuge in Him.
14 traders viewing now