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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

  • #44,081
  • Dec 6, 2018 6:59am Dec 6, 2018 6:59am
Quoting Hansl
I will also add my two cents since this topic with what swing to trade bothered me for long. I attached one screenshot and I hope my paint skills are worth posting. No access to my charts atm, sorry. black line = price, blue = immediate structure, green= overall strucuture - clear high/low and the yellow lines how I would align with my trades. Red line obviously is structure fail in the immediate. You need to identify where the clearest low/high was achieved and what the overall structure is doing. My results were not satisfying to me in times where...
that's my problem also but mr.pip said in the last webinar he will do a video just for this so we can navigate different orderflows
  • #44,082
  • Dec 6, 2018 7:29am Dec 6, 2018 7:29am
Quoting vladutz112
{quote} that's my problem also but mr.pip said in the last webinar he will do a video just for this so we can navigate different orderflows
Hey Vladutz about a year ago I asked the same question and Damian made a special nuts and bolts video wher he goes into detail about watching different orderflowshttps://www.youtube.com/watch?v=LW3ga0rCYx4&t=6448s
  • #44,083
  • Dec 6, 2018 11:19am Dec 6, 2018 11:19am
Imagine the YM drop 600points and i can only find one trade - LONG!
+59
Attached Image (click to enlarge)
Click to Enlarge Name: YM 12-18 (89 Tick) 2018_12_06 (12_17_33 PM).png Size: 59 KB
  • #44,084
  • Dec 6, 2018 1:07pm Dec 6, 2018 1:07pm
Quoting Hansl
I will also add my two cents since this topic with what swing to trade bothered me for long. I attached one screenshot and I hope my paint skills are worth posting. No access to my charts atm, sorry. black line = price, blue = immediate structure, green= overall strucuture - clear high/low and the yellow lines how I would align with my trades. Red line obviously is structure fail in the immediate. You need to identify where the clearest low/high was achieved and what the overall structure is doing. My results were not satisfying to me in times where...
YM did this pattern recently

PS: 61%, fib, 38%fib, structure and your pattern to take a long entry for the 1:1
Attached Image (click to enlarge)
Click to Enlarge Name: YM 12-18 (233 Tick) 2018_12_06 (16_05_13).png Size: 60 KB
  • #44,085
  • Dec 6, 2018 2:14pm Dec 6, 2018 2:14pm
Hello I took a lot of trades and the main reason was because I got stopped out a lot for breakeven and re-entered. I traded on the 34tick but I must make a lot of screenshots to show you my trades so I show the 144tick where a the trades fit on one screen. Normally I trade only 1 orderflow but when I see an opportunity like the blue ABCD which completed at strong structure plus a double bottom I will take those too if the risk is in line with my "normal' risk pointbased
Attached Image (click to enlarge)
Click to Enlarge Name: YM 12-18 (144 Tick) 2018_12_06 (21_11_20).png Size: 146 KB
  • #44,086
  • Dec 6, 2018 3:43pm Dec 6, 2018 3:43pm
Quoting gastonforex
{quote} YM did this pattern recently PS: 61%, fib, 38%fib, structure and your pattern to take a long entry for the 1:1 {image}
Similar, yes. Not the best reference leg though, one could argue about that. Price hit key support areas overall and you can see how the buyers reacted. If they react there, then strong. And they did. So I would rather look for longs as you did I guess and continue trading to the upside instead of looking for a short as shown on the image that I posted. A different situation to me.

Hope you had a green day!
  • #44,087
  • Dec 7, 2018 8:52am Dec 7, 2018 8:52am
Just as a reminder to not be stupid and to stick to your rules. I am happy to provide that...
Dont ask me why I did that.
Attached Image (click to enlarge)
Click to Enlarge Name: YMZ8-CBOT 144 Trades #2 2018-12-07 09_51_08.594.png Size: 55 KB
  • #44,088
  • Dec 7, 2018 10:17am Dec 7, 2018 10:17am
Stupidest session in the past couple of months... 89 tick chart...
The swing I was using wasn't the "true" swing because of the lack of a 38.2 correction but I was watching NQ and ES they were all doing the same thing so I thought it was a good swing but as you can see by the trade markers it was a huge mental struggle to stay in a trade that wasn't clicking with me. Non the less I saw the weakness on the last correction prior to my last profitable entry and I said that I'm an idiot for not being in the trade so I entered and held myself accountable to my trade management rules.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 82 KB
Attached Image
  • #44,089
  • Dec 7, 2018 1:58pm Dec 7, 2018 1:58pm
Here's my one and only trade of the day.
Recently, I've limited myself to very few trades per day and my average points per day has gone way up. I've become more picky and therefore decreased my losing trades that I took just because rather than good technical analysis. AS I become better at reading price action I"m sure I'll see more trades but I'm learning patience at the moment!
+59
Attached Image (click to enlarge)
Click to Enlarge Name: YM 12-18 (89 Tick) 2018_12_07 (2_54_51 PM).png Size: 44 KB
  • #44,090
  • Dec 7, 2018 2:04pm Dec 7, 2018 2:04pm
Quoting PipJr
Here's my one and only trade of the day. Recently, I've limited myself to very few trades per day and my average points per day has gone way up. I've become more picky and therefore decreased my losing trades that I took just because rather than good technical analysis. AS I become better at reading price action I"m sure I'll see more trades but I'm learning patience at the moment! +59 {image}
Nice PipJr
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 130 KB
  • #44,091
  • Dec 7, 2018 2:18pm Dec 7, 2018 2:18pm
Testing out the CQG mobile app with a demo act. Does anyone trade e-mini dow on-the-go? This app seems to have good potential but doesn't appear to offer tick charts or drawing tools yet. I was actually refered to CQG trader by someone at Ninjatrader as an option for mobile trading. I feel like I did okay for my first day trading the dow BTW the long up top was user error. I got short and caught 173 points on that move.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot_20181207-150952_CQG Demo.jpg Size: 374 KB
Process over outcome.
  • #44,092
  • Dec 8, 2018 10:26am Dec 8, 2018 10:26am
Hi, Mr.Pip (or any other experienced harmonic trader):

I just recently started learning to trade harmonics. I have a newbie question while going through the materials:

If there are a lot of harmonic patterns on one chart (big and small, with different PRZs), how do I decide which one to trade? Can you talk about your thought process?

Thank you for your time and help!

Shuo
  • #44,093
  • Dec 8, 2018 10:44am Dec 8, 2018 10:44am
Hi ZhangShuo , i am not a profitable trader yet.

but i think Positioning was key for your question , example if price was ranging on bigger scale , while your expectation was NSH , you would not want to go Long at upper range of the ranging , You can use momentum and structure to decide which side you would want to trade. I am trading more on Eurusd , it has certain behaviour that are different from YM , YM daily average was 1000point ( a random number ) , while EurUsd daily average was 60pips , after a move of 80pips upward , you should aware that market are less likely going long , this 60pips movement also limit the trend it can have a day , while you can see on YM it can continue continue continue going on a trend. I dont want to mislead you , dont take my word too seriously , just a suggestion that maybe can help.
  • #44,094
  • Dec 8, 2018 10:34pm Dec 8, 2018 10:34pm
Quoting zhangshuo
Hi, Mr.Pip (or any other experienced harmonic trader): I just recently started learning to trade harmonics. I have a newbie question while going through the materials: If there are a lot of harmonic patterns on one chart (big and small, with different PRZs), how do I decide which one to trade? Can you talk about your thought process? Thank you for your time and help! Shuo
I think it will come down to: trade the orderflow you are trading and dont mix them up. Use the appropriate stoploss and target for the orderflow you are trading. If an ABCD is completing to the upside (meaning a correction to the downside is likely) on a higher TF it may affect the probabilities of a long working out on a shorter timeframe. You can be cognizant of this and you will learn these things as you become more experienced but I think the general philosophy here is to stick to your orderflow you are interested in and trade the expectation. Hope that helps.
Process over outcome.
  • #44,095
  • Dec 10, 2018 8:23am Dec 10, 2018 8:23am
Hello Traders, Sorry I've been gone for a while needed to take a break and we had another baby. Feeling blessed. Just wanted to let you all know the next live stream is on Tuesday Dec. 18 same time as always. Hope to see you all there.
If you fail to plan, you plan to fail.
  • #44,096
  • Dec 10, 2018 8:34am Dec 10, 2018 8:34am
Quoting Mr. Pip
Hello Traders, Sorry I've been gone for a while needed to take a break and we had another baby. Feeling blessed. Just wanted to let you all know the next live stream is on Tuesday Dec. 18 same time as always. Hope to see you all there.
Congratulations, I wish you many wonderful experiences with your new family member and may your family be happy and healthy
  • #44,097
  • Dec 10, 2018 8:34am Dec 10, 2018 8:34am
Quoting Mr. Pip
Hello Traders, Sorry I've been gone for a while needed to take a break and we had another baby. Feeling blessed. Just wanted to let you all know the next live stream is on Tuesday Dec. 18 same time as always. Hope to see you all there.
Congratulations! Enjoy your family
Wow! I've got some experience to gain.
  • #44,098
  • Dec 10, 2018 8:36am Dec 10, 2018 8:36am
Quoting Mr. Pip
Hello Traders, Sorry I've been gone for a while needed to take a break and we had another baby. Feeling blessed. Just wanted to let you all know the next live stream is on Tuesday Dec. 18 same time as always. Hope to see you all there.
Congratulations on your new family member! What a very Merry Christmas you will have!
Luck has no place in trading. Leave that for the poker table.
  • #44,099
  • Dec 10, 2018 8:37am Dec 10, 2018 8:37am
I went long on the 89 tick chart at the opening. I am trying work on better entries. My goal will be to eventually have a starting stop loss of 20 points or less.
Attached Image (click to enlarge)
Click to Enlarge Name: YM 12-18 (89 Tick).png Size: 36 KB
Luck has no place in trading. Leave that for the poker table.
  • #44,100
  • Dec 10, 2018 8:39am Dec 10, 2018 8:39am
Quoting Mr. Pip
Hello Traders, Sorry I've been gone for a while needed to take a break and we had another baby. Feeling blessed. Just wanted to let you all know the next live stream is on Tuesday Dec. 18 same time as always. Hope to see you all there.
Congratulations!
Process over outcome.
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