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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

  • #43,941
  • Nov 13, 2018 2:14pm Nov 13, 2018 2:14pm
Must have deleted this post when making changes earlier.
This was a morning trade, expectation was for NSH on Higher TF, Moved to BE close to structure and took off 1/3"to pay the bills" so to speak. Trailed a little to aggressive and was stopped out averaging +165 per position. Looks like I will get another shot at this tomorrow.
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Always Learning
  • #43,942
  • Edited 5:19pm Nov 13, 2018 4:26pm | Edited 5:19pm
Quoting Nikster
I couldn't post earlier but I took 2 other trades. the first got stopped out breakeven and the second I had a lot of harmonic completions and normally I don't like stops that are more then 30 points but this one looks so good and it failed...{image}
Nikster,

please give your trade a chance to develop. As Mr. Pip says "stop goes were it needs to be". If the stop is too expensive, then simply do not take the trade.

It makes really no sense to try to circumvent that. It is more likely that it will be more expensive on the long run. I can really speak from my personal experience on that.
I took the same trade (chart: third long entry) and we got the harmonic move and even more.

PS: I did not intend to post that chart (this will be the last chart showing my trades that I post), but I saw by hazard that it was the same entry, so it is more intended to be a motivation for you to place the stops at the right places.

I wish you many pips, ticks, $,...
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  • #43,943
  • Nov 14, 2018 1:12am Nov 14, 2018 1:12am
Quoting evocpr19
{quote} Nikster, please give your trade a chance to develop. As Mr. Pip says "stop goes were it needs to be". If the stop is too expensive, then simply do not take the trade. It makes really no sense to try to circumvent that. It is more likely that it will be more expensive on the long run. I can really speak from my personal experience on that. I took the same trade (chart: third long entry) and we got the harmonic move and even more. PS: I did not intend to post that chart (this will be the last chart showing my trades that I post), but I saw...
Thanks for the feedback. I see what you mean. That trade that we both took I shouldn't moved my stop to breakeven that fast but I guess that after a serie of losses your mind tells you that "this trade is now positive and no way I'm gonna end it in a loss" thing which will hurt you expectancy in the long run.

I also noticed that the last weeks volatility is much higher and price is moving quite aggressive plus of course larger swings which means larger stops. That's also making me think twice before entering. I shouldn't do that. If the signal is valid enter and stop where it needs to be
  • #43,944
  • Nov 14, 2018 1:29am Nov 14, 2018 1:29am
Quoting Nikster
{quote} Thanks for the feedback. I see what you mean. That trade that we both took I shouldn't moved my stop to breakeven that fast but I guess that after a serie of losses your mind tells you that "this trade is now positive and no way I'm gonna end it in a loss" thing which will hurt you expectancy in the long run. I also noticed that the last weeks volatility is much higher and price is moving quite aggressive plus of course larger swings which means larger stops. That's also making me think twice before entering. I shouldn't do that. If the...
The emotion part is a beast. I am also not pleased to see a trade turning into a loss (see last chart, red box), but this is what it is. The more important thing is to be overall more right than wrong.
For example, I lost at a point the overview (at least it was my impression) on the NQ trades posted earlier, so I simply stop before starting to do nasty things which I would regret.
  • #43,945
  • Nov 14, 2018 6:43am Nov 14, 2018 6:43am
Quoting evocpr19
{quote} The emotion part is a beast. I am also not pleased to see a trade turning into a loss (see last chart, red box), but this is what it is. The more important thing is to be overall more right than wrong. For example, I lost at a point the overview (at least it was my impression) on the NQ trades posted earlier, so I simply stop before starting to do nasty things which I would regret.
If things are not clear I also wait to see which way price wants to go. My challenge for now is to improve the stoploss management and keep the emotions under control
  • #43,946
  • Nov 14, 2018 10:23am Nov 14, 2018 10:23am
Not an easy day to trade today for me. Lot's of back to back expectation failures. I should probably consider bigger swings..or maybe the NQ wasn't very kind today.
Eventually I ended up negative.
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  • #43,947
  • Nov 14, 2018 10:25am Nov 14, 2018 10:25am
Shorted this tonight.
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Luck has no place in trading. Leave that for the poker table.
  • #43,948
  • Nov 14, 2018 10:27am Nov 14, 2018 10:27am
I also shorted the NQ tonight as well.
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Luck has no place in trading. Leave that for the poker table.
  • #43,949
  • Nov 14, 2018 11:56am Nov 14, 2018 11:56am
wow it works like magic +81 gbpusd m5
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  • #43,950
  • Nov 14, 2018 3:56pm Nov 14, 2018 3:56pm
A bit of a longer term type trade. I traded Supply/Demand areas strictly as my trading style before advancing into the harmonics. This trade was more based on the area highlighted as a solid area of demand that then switched to a solid area of supply. With some alignments in the retracement it is a solid trade according to my plan.
Short filled at 25178 and I've moved my stop down a bit from this screenshot since there has been some follow through. We'll see if we get a NSL out of it though.
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Chance favors the prepared mind.
  • #43,951
  • Nov 14, 2018 6:47pm Nov 14, 2018 6:47pm
Last night I extended my targets before I went to sleep. As expected...there would be some retracement from the bulls. Nevertheless, being that we are currently in bear country, it seems that the bulls were thwarted once again. I will keep an on on it until early tonight. Gonna go see a new movie with my wife. I think we are seeing Fantastic Beast and Where to Find Them.
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Luck has no place in trading. Leave that for the poker table.
  • #43,952
  • Nov 15, 2018 9:23am Nov 15, 2018 9:23am
difficult market today. my second trade I should trailed more aggressive since the 1:1 almost completed by a few points
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  • #43,953
  • Nov 15, 2018 9:27am Nov 15, 2018 9:27am
Quoting Nikster
difficult market today. my second trade I should trailed more aggressive since the 1:1 almost completed by a few points{image}
could you be so kind to explain your third trade?we broke the low so you should have expected a LL why would you buy?
Thanks
  • #43,954
  • Nov 15, 2018 9:37am Nov 15, 2018 9:37am
Quoting WestVillage
{quote} could you be so kind to explain your third trade?we broke the low so you should have expected a LL why would you buy? Thanks
since it was a very weak NSL I expected a deep correction plus good area where buyers reacted before. that's why I trailed that one agressive and by the second trade I traded in line with the order flow so wanted to give it more room.
  • #43,955
  • Nov 15, 2018 9:39am Nov 15, 2018 9:39am
Quoting Nikster
{quote} since it was a very weak NSL I expected a deep correction plus good area where buyers reacted before. that's why I trailed that one agressive and by the second trade I traded in line with the order flow so wanted to give it more room.
I see but you got just a few candles that confirmed it was a weak NSL so it was a bit risky wasn't it?
Thank you for your explanation
  • #43,956
  • Nov 15, 2018 9:52am Nov 15, 2018 9:52am
I am still short from last night but for how much longer, before I decide to go long?
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Luck has no place in trading. Leave that for the poker table.
  • #43,957
  • Nov 15, 2018 10:10am Nov 15, 2018 10:10am
The bulls stampeding with quite a bit of power. So, I just closed my YM and NQ trades for over +500 plus points per pair. Not sure if I will trade tomorrow or not, with turkey day coming and all. But if a person wants to trade around turkey day... all I can say is do your best to use the Gobble gobble strategy in your favor. If you get gobbled on your account will feel basted and baked. Good night all.

Happy trading.
Luck has no place in trading. Leave that for the poker table.
  • #43,958
  • Nov 15, 2018 10:36am Nov 15, 2018 10:36am
Finally took care of my grandfather and I can start trading properly.

Six trades today.. 144 tick chart

I should've waited for a deeper correction on my second trade since the expectation was for a deep correction but I guess I wanted to make up for the first loss and I got a bit impatient.
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  • #43,959
  • Nov 15, 2018 10:49am Nov 15, 2018 10:49am
+5 -48 +2 +92 +4 +47 +31 +62 +87

Total +282

After a big series of negative days I changed a bit my prospective thanks to some of you and I ended up the day very positive.
I hope to see so much green also in the days to come.
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  • #43,960
  • Nov 15, 2018 12:07pm Nov 15, 2018 12:07pm
Hey Pair me up! You should look into this. I think you would do really well and could possibly fund your account this way.

https://institute.cmegroup.com/wti-trading-challenge
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