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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

  • #44,001
  • Nov 21, 2018 9:52am Nov 21, 2018 9:52am
1-1 today 70t chart

2nd one exited early as I was concerned with price not making a nsl after 2 attempts. Maybe premature.


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Blessed is the one who takes refuge in Him.
  • #44,002
  • Edited 3:48pm Nov 21, 2018 10:34am | Edited 3:48pm
Hello traders,

looks to me like price is in a range with the bulls trying to take over. I'm short expecting a NSL or at least a retest of the last low somewhere around 24380-24420. Let's see how it's gonna play out.

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Hope everyone is doing great this week.

E: Locked in some profits. 52P
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E2: I've locked in some more. 102P
I wanna get out of this one before the session close.
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E3: Closed my trade shortly after posting for 168P.
  • #44,003
  • Nov 21, 2018 12:51pm Nov 21, 2018 12:51pm
I was aggresive today, I did not feel comfortable with price.
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  • #44,004
  • Edited 2:04pm Nov 21, 2018 1:43pm | Edited 2:04pm
Price was in a range today. Maybe because of Thanksgiving...

I got out with a breakeven and a bunch of points. I didn't even wait for the last trade to hit the BE point or the target.

+2 +22

Total: +24
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  • #44,005
  • Nov 22, 2018 6:27am Nov 22, 2018 6:27am
Quoting Nikster
Hello traders, I found the 144tick too expensive to trade so I zoomed in to the 34tick. Man that is fast! I had 3 trades, 1 BE and 2 winners. The last one I was to slow with the trailing.{image}{image}{image}
I never tried 34t. I guess it would be too fast for me.

Just a question. You are posting your charts not on a daily basis. Is it because you do not trade everyday or something else.
I am asking, because I hope that it works for you overall.

Wish all many pips, ticks, $,...
  • #44,006
  • Nov 22, 2018 7:01am Nov 22, 2018 7:01am
Quoting evocpr19
{quote} I never tried 34t. I guess it would be too fast for me. Just a question. You are posting your charts not on a daily basis. Is it because you do not trade everyday or something else. I am asking, because I hope that it works for you overall. Wish all many pips, ticks, $,...
I can't trade every day. That's why I don't post daily. All my trades are posted and some weeks I trade 3 days while other weeks I sometimes don't trade at all. My plan is to trade at least 3 days a week but sometimes I have other things that needed to be done unfortunenately
  • #44,007
  • Nov 22, 2018 9:15pm Nov 22, 2018 9:15pm
Happy thanksgiving everyone. Very thankful for all that I’ve learned from Damian and many others on this thread.
  • #44,008
  • Edited 11:25pm Nov 23, 2018 10:39am | Edited 11:25pm
I though 1:1 to the downside (yellow lines) or a retest of the lows were posible, i was wrong

Nice weekend!
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  • #44,009
  • Nov 23, 2018 2:08pm Nov 23, 2018 2:08pm
Hope everyone had a Great Holiday, Took this trade on Tuesday the 20th @ around 5:30 am est on a Rotation on the 144 Tick if curious. Just info on the trade because the chart I posted will not make sense without it. Left that morning to travel for holidays and still wanted to trade what i was viewing on higher TF charts, so took this trade , had a 30 point drawn down with a 67 point stop @ 24960. Hope you all have a good weekend
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Always Learning
  • #44,010
  • Nov 24, 2018 1:06am Nov 24, 2018 1:06am
Hello, It might be a cringe question but how do you guys keep motivate yourself to study trading.
Currently,I'm on a point in my life where I try to improve myself and It worked out pretty well but not on trading ,I find it very hard to motivate myself,I don't see a small reward in each step like other thing to keep motivate me.
I think my system to improve my trading plan have ton of flaw but I don't know what it is.Could you guys share how you improve your plan ?
  • #44,011
  • Nov 24, 2018 9:09am Nov 24, 2018 9:09am
Quoting Bonobo
Hello, It might be a cringe question but how do you guys keep motivate yourself to study trading. Currently,I'm on a point in my life where I try to improve myself and It worked out pretty well but not on trading ,I find it very hard to motivate myself,I don't see a small reward in each step like other thing to keep motivate me. I think my system to improve my trading plan have ton of flaw but I don't know what it is.Could you guys share how you improve your plan ?
All I can say is that you're not alone. Any other pursuit of mine has had a general upward progression, however improvement in trading is difficult for me to quantify. Most of the successful traders on here emphasize screen time, which is something I am struggling to find time for consistently. Keep your head up and don't drop the torch! We will get there!
Wow! I've got some experience to gain.
  • #44,012
  • Edited 10:18am Nov 24, 2018 9:45am | Edited 10:18am
Quoting Bonobo
Hello, It might be a cringe question but how do you guys keep motivate yourself to study trading. Currently,I'm on a point in my life where I try to improve myself and It worked out pretty well but not on trading ,I find it very hard to motivate myself,I don't see a small reward in each step like other thing to keep motivate me. I think my system to improve my trading plan have ton of flaw but I don't know what it is.Could you guys share how you improve your plan ?
I'd say discipline...for me the biggest struggle in trading is not following my rules. I always changed the rules thinking that they are somehow better than what Mr.Pip has laid out and I always failed...so I said screw it..I'm doing exactly what Damian is doing but I'm still struggling not to break rules. I know that if I fix that and be disciplined I'll be profitable.

Edit: I read your comment a second time..you were asking about motivation. Well...my motivation is a cocktail of a couple of things.. money, freedom, fascination with market movement, the challenge of it all..if I dig deeper I'll probably come to more conclusions. I want to be a successful trader and I know I won't fail because I'll never quit... doesn't matter how long it will take. I've literally devoted my life to this goal. You have to dig deep man...find out what drives you. If you take this as a hobby well..most likely it will remain a hobby. If you look at it like a career ..that's something else.
  • #44,013
  • Nov 26, 2018 6:10am Nov 26, 2018 6:10am
Quoting Bonobo
Hello, It might be a cringe question but how do you guys keep motivate yourself to study trading. Currently,I'm on a point in my life where I try to improve myself and It worked out pretty well but not on trading ,I find it very hard to motivate myself,I don't see a small reward in each step like other thing to keep motivate me. I think my system to improve my trading plan have ton of flaw but I don't know what it is.Could you guys share how you improve your plan ?
I do not know your trade plan, so cannot say anything about it. If your plan has more rules than Damians trade plan, maybe too complicated to follow.

I have a more general question to you: Are we talking about to find a motivation for learning to turn your trading profitable or are you talking about being profitable and to find motivation to learn in the context of refining what you have?

In terms of small rewards, it is hard to get, because a trade either works or not. However, what I would count as small rewards is e.g. you enter short, target a 1:1, you recognise major weakness and you start to trail very aggressively (and get taken out). After price climbs and does not achieve the 1:1. However, some traders will then interpret that as "not following the trade plan" but for me this is in that case more price awareness. Maybe you will have some trades like that where you get taken out and then price reaches the 1:1. This can happen, but normally will not. You will see more cases where your decision will be confirmed by the PA afterwards. So the combination of a rule and your knowledge about PA gives you in that sense a small reward (compared to only apply your rule).

Hope it helps.
  • #44,014
  • Nov 26, 2018 7:24am Nov 26, 2018 7:24am
Quoting Bonobo
Hello, It might be a cringe question but how do you guys keep motivate yourself to study trading. Currently,I'm on a point in my life where I try to improve myself and It worked out pretty well but not on trading ,I find it very hard to motivate myself,I don't see a small reward in each step like other thing to keep motivate me. I think my system to improve my trading plan have ton of flaw but I don't know what it is.Could you guys share how you improve your plan ?
Motivation for me is something that consolidates with results and results come following your trading plan without giving up on it at the first difficulty.

Following your trade plan might seem easy but it is not. It's not as easy as waiting for a cross on an indicator/moving average. Here you're learning to read PA and it takes some time plus hard work to master it. I agree with evocpr19 when he says to target small rewards, that is a great way to start, I am trying to do the same. Also post your trades to sharpen your strategy, we all can help to share motivation and results.
  • #44,015
  • Nov 26, 2018 7:35am Nov 26, 2018 7:35am
Quoting JayTrader
Hope everyone had a Great Holiday, Took this trade on Tuesday the 20th @ around 5:30 am est on a Rotation on the 144 Tick if curious. Just info on the trade because the chart I posted will not make sense without it. Left that morning to travel for holidays and still wanted to trade what i was viewing on higher TF charts, so took this trade , had a 30 point drawn down with a 67 point stop @ 24960. Hope you all have a good weekend {image}
Out of Thanksgiving Trade with +529
Always Learning
  • #44,016
  • Nov 26, 2018 9:49am Nov 26, 2018 9:49am
hello 3 trades today 40 points. I was agressive with the 3th trade because I had doubt if price really would go down
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  • #44,017
  • Nov 26, 2018 9:57am Nov 26, 2018 9:57am
89 tick ... first trade short +19 ticks..price dropped very fast and I tried to move my stop and I accidentally double clicked on my chart with an active chart trader which automatically places a limit order so my second trade was an accident and I exited with +9 (lucky me, could've turned out really bad).

+28 for now
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  • #44,018
  • Nov 26, 2018 10:18am Nov 26, 2018 10:18am
0-2 today, -27 pips.

Looking for the equalizer now......
Blessed is the one who takes refuge in Him.
  • #44,019
  • Nov 26, 2018 10:31am Nov 26, 2018 10:31am
Short Trade SL is roughly 65 points
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Always Learning
  • #44,020
  • Nov 26, 2018 10:38am Nov 26, 2018 10:38am
Update on Short Trade 3 off rest at BE or so.
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Always Learning
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