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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

  • #44,481
  • Jan 23, 2019 2:32am Jan 23, 2019 2:32am
Quoting Lawnman
One trade today, rode out some pain (yes it's painful for me on demo). +24 Notes on chart Critique appreciated. {image}
I would've traded it in the same way, ie trailed aggressively due to seemingly bearish breakdown.
Rise and rise again until lambs become lions
  • #44,482
  • Jan 23, 2019 8:30am Jan 23, 2019 8:30am
Quoting Mr_Burns
{quote} I would've traded it in the same way, ie trailed aggressively due to seemingly bearish breakdown.
Thanks, Buddy.
Wow! I've got some experience to gain.
  • #44,483
  • Jan 23, 2019 9:05am Jan 23, 2019 9:05am
Quoting bmdenton23
1 BE, 1 failed rescue, 2 winners ----------------------------------- Total +44 {image}
You're kicking the markets ass! Thanks for posting it's great to see steady methodical improvement. Excited to see your monthly total!
instagram: stepbystepforex
  • #44,484
  • Jan 23, 2019 9:33am Jan 23, 2019 9:33am
OK, can't find an entry on this runaway short, need to get back to work.
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Wow! I've got some experience to gain.
  • #44,485
  • Jan 23, 2019 10:38am Jan 23, 2019 10:38am
Crab pattern on EUR/USD H4 chart. Good place to buy in.
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  • #44,486
  • Jan 23, 2019 4:54pm Jan 23, 2019 4:54pm
During my hours price dropped straight down 400 points and I managed to lose 8 on the day.
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  • #44,487
  • Jan 24, 2019 8:47am Jan 24, 2019 8:47am
Morning All, First trade of 2019 for me, much needed time off, 1/2 off at 1-1 rest is for longer term target or BE
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Always Learning
  • #44,488
  • Jan 24, 2019 10:26am Jan 24, 2019 10:26am
+87
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  • #44,489
  • Jan 24, 2019 12:30pm Jan 24, 2019 12:30pm
first trade after a month
got +45 on YM 89T
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  • #44,490
  • Jan 24, 2019 7:43pm Jan 24, 2019 7:43pm
My three from earlier today.

1. Had to leave computer for a couple minutes and saw NSL had formed missed rotation and entered late. +1
2. Due to a lack of patience, I switched to the 89t NSL +1.
3. After a very weak NSL (probably should have been called a re-test) entered short and got stopped. -8

Main swings in green.
Attached Image(s) (click to enlarge)
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Wow! I've got some experience to gain.
  • #44,491
  • Jan 25, 2019 10:28am Jan 25, 2019 10:28am
Hello Traders, Sorry that I continue to be a bit lost sometime I get too busy as I'm often pulled in many different directions. I also apologize for not doing a live stream this month. Next month we will do a few of them. I don't know if they will be back to back or one a week every week in February. I have to see how life unfolds. Here are my trades for today. +97 points
Attached Image (click to enlarge)
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If you fail to plan, you plan to fail.
  • #44,492
  • Jan 25, 2019 10:33am Jan 25, 2019 10:33am
Good evening everyone.

Sorry guys, but I don't know how you achieve 70% or better of winning trades. Personally, I often have this kind of bullshit
If someone has any advice, feel free to comment.
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  • #44,493
  • Jan 25, 2019 10:41am Jan 25, 2019 10:41am
Quoting Mr. Pip
Hello Traders, Sorry that I continue to be a bit lost sometime I get too busy as I'm often pulled in many different directions. I also apologize for not doing a live stream this month. Next month we will do a few of them. I don't know if they will be back to back or one a week every week in February. I have to see how life unfolds. Here are my trades for today. +97 points {image}
Great to see your trades again Mr Pip! Could you elaborate more on your placement of SL on your zone trading in your next live stream? It would really help especially on days like these where the swings are huge. I am always looking forward to your videos. Thanks for the taking the time all these while. God bless and have a fantastic weekend ahead.
  • #44,494
  • Jan 25, 2019 10:45am Jan 25, 2019 10:45am
Quoting RussellShaw
Good evening everyone. Sorry guys, but I don't know how you achieve 70% or better of winning trades. Personally, I often have this kind of bullshit If someone has any advice, feel free to comment. {image}
Hey Russelshaw, I have exactly the same problem this week. I can't post a chart right now but I recognize your problem. I wish I have the answer but I think you (and me also) must continue taking the trades because I think it happens now and then and you have to get through these situations.

This week I am down 140 points while I was up 70 points for the month so.
  • #44,495
  • Jan 25, 2019 10:46am Jan 25, 2019 10:46am
Quoting RussellShaw
Good evening everyone. Sorry guys, but I don't know how you achieve 70% or better of winning trades. Personally, I often have this kind of bullshit If someone has any advice, feel free to comment. {image}
I'm in the same boat. I almost took the same trades.
  • #44,496
  • Jan 25, 2019 11:00am Jan 25, 2019 11:00am
Quoting Milfortra
{quote} Great to see your trades again Mr Pip! Could you elaborate more on your placement of SL on your zone trading in your next live stream? It would really help especially on days like these where the swings are huge. I am always looking forward to your videos. Thanks for the taking the time all these while. God bless and have a fantastic weekend ahead.
Stops were placed below the main swing. My timing was really good today so no pain at all.
If you fail to plan, you plan to fail.
  • #44,497
  • Jan 25, 2019 11:13am Jan 25, 2019 11:13am
OK Traders,

I hear you guys are at times struggling to achieve that 70% and sometimes I do too. But there are 2 things that make that insignificant,

 

  1. Frequency, Are you taking your signals? Are you trying to filter out losses (PAIN)? We never know with complete certainty which expectations are going to fail. This is not your task. Your task is to trade as many as you can. I say as many as you can because, I know you will miss a couple of entries because price just did not correct to your area of interest or you just did not the trigger that puts you in the trade. My point is if you had 8 trades and you only took 3 there there is a problem. That problem is fear or the inability to identify in real time your entry. Figure out what that problem is and fix it. You will not be consistently profitable if you can't get over that mountain.
  2. Risk/Reward, You need to put RR on your side. The is a huge fear killer. When you consistently see that one to two winners eliminates the losses and draw down then fear is no longer in control of your decision making.

Work on this and I promise you your equity curve will start heading in the right direction!

If you fail to plan, you plan to fail.
  • #44,498
  • Jan 25, 2019 11:43am Jan 25, 2019 11:43am
Quoting RussellShaw
Good evening everyone. Sorry guys, but I don't know how you achieve 70% or better of winning trades. Personally, I often have this kind of bullshit If someone has any advice, feel free to comment. {image}
You assessed some swings incorrectly, but despite of it you had bad luck catching expectation failures.
Be careful with setting stops on big swings below/above swing high/low if your retracement is <= 50%.
Its better to wait for a deeper correction or take a small stop and re-enter if necessary. you loose less respectively gain more with it.

The best way to assess a winrate in the beginning is to take trades with RR 1 only. No BE allowed. It's a great exercise. Do 100 trades on one instrument
and journal them. You'll have a great overview which setup works best for you. It's crucial for future risk management.

Just my humble opinion
  • #44,499
  • Jan 25, 2019 11:44am Jan 25, 2019 11:44am
Quoting Mr. Pip
Hello Traders, Sorry that I continue to be a bit lost sometime I get too busy as I'm often pulled in many different directions. I also apologize for not doing a live stream this month. Next month we will do a few of them. I don't know if they will be back to back or one a week every week in February. I have to see how life unfolds. Here are my trades for today. +97 points {image}
Splendid! Could I ask what is your rationale for entering your first trade? It looked like against the expectation at that time.
Detach yourself from the value of money - Mr. Pip
  • #44,500
  • Jan 25, 2019 12:20pm Jan 25, 2019 12:20pm
Quoting Supreme1394
{quote} Splendid! Could I ask what is your rationale for entering your first trade? It looked like against the expectation at that time.
I'll take a stab at it! Purple line is expectation failure.
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Process over outcome.
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