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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

  • #44,541
  • Jan 30, 2019 2:39pm Jan 30, 2019 2:39pm
Quoting evocpr19
{quote} I am not sure what you mean by "I can separate different orderflows" when price happens in live or on a finished chart? Maybe I would understand it better if you post some more examples on a given trading day (makes things easier, because normally I trade this also and so I know better what I thought at that point and it avoids hindsight on a finished chart). Sorry, I am a bit lost with what you mean exactly.
First trade I shorted immediate structure, second trade was intraday swing, is it correct to trade them both or need to focus on one orderflow?
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  • #44,542
  • Jan 30, 2019 2:41pm Jan 30, 2019 2:41pm
Total 3 trades:

+2 +47 +41
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  • #44,543
  • Jan 30, 2019 4:24pm Jan 30, 2019 4:24pm
Quoting Bogdanlinee
{quote} First trade I shorted immediate structure, second trade was intraday swing, is it correct to trade them both or need to focus on one orderflow? {image}
I only state my opinion (others are invited to give their opinion):

The type of orderflow that you trade does not really matter, since both works towards the same place (=immediate orderflow fits and needs to fit within larger orderflow). I personally tend to more trade the immediate ordeflow, since I have better result with it.
Anyway, you need good reasons for entering a trade.
On the first trade yesterday, I see more reasons to not take it. You have lets call it a break of immediate orderflow, ok; you wait for a correction + rotation and u enter. Do you have good structure on left? compare the leg 1 with your ref. swing. Moreover, leg 1 increased strength on its move up. This tells me that I need to give more room when trading in the opposite direction and I need very good structure (that was not there at this level).

Did you notice that 24622 was the 61.8 fib of the previous clearest bigger swing with expectation of a NSL? Ok this failed, but this tells me to be cautious when entering long on the golden ratio.

Damian classifies his entries with SOS1 to SOS3. This is in principle the same.

Hope this helps.

NB: your trades today were nice and all things fit perfectly together.
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  • #44,544
  • Jan 30, 2019 6:39pm Jan 30, 2019 6:39pm
Quoting Pair-me-up
{quote} This is my last update for the night my time. Have a great weekend all. I will not be around next week. Going on a little vacation with my sweet wife. {image} {image}
Little update on my position trade.

I expect some retrace on this before it continues to my target.

So far so good, but anything could happen.
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Luck has no place in trading. Leave that for the poker table.
  • #44,545
  • Jan 30, 2019 7:02pm Jan 30, 2019 7:02pm
Quoting Pair-me-up
{quote} Little update on my position trade. I expect some retrace on this before it continues to my target. So far so good, but anything could happen. {image} {image}
Good one
  • #44,546
  • Jan 31, 2019 8:00am Jan 31, 2019 8:00am
Can someone pls recommend a good free ebook on harmonics for me? Thanks in advance!
  • #44,547
  • Jan 31, 2019 9:20am Jan 31, 2019 9:20am
Today, I traded basically the continuation (with new entries) of my trade from yesterday which started badly. The yellow marked entry is with reduced lot, so not the same size as the previous entries. Was a long day.
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  • #44,548
  • Jan 31, 2019 9:33am Jan 31, 2019 9:33am
Today started off on the wrong foot, making mistakes (entering late, bad R:R) and not sticking to trade plan. Especially the third (short) trade was just reckless and not according to any trade plan. But, kept telling myself to refocus and Damian's "Next", managed to refocus and finish the day in the black.
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  • #44,549
  • Jan 31, 2019 9:35am Jan 31, 2019 9:35am
I expected price to do some retracement. I then added to my long positions. So far so good, but anything can happen.

After all.. Past performance is no guarantee of future results.
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Luck has no place in trading. Leave that for the poker table.
  • #44,550
  • Jan 31, 2019 9:49am Jan 31, 2019 9:49am
Quoting timidave
Can someone pls recommend a good free ebook on harmonics for me? Thanks in advance!
I know that there are harmonic trading books vol. 1 to 3 from Scott Carney. However, there are not free (as nearly everything in life).
  • #44,551
  • Jan 31, 2019 10:04am Jan 31, 2019 10:04am
Quoting timidave
Can someone pls recommend a good free ebook on harmonics for me? Thanks in advance!
Scott Carney's books like evo recommended. Search around the intrawebs for downloads, and if it ends up helping you, please do buy the real one.
  • #44,552
  • Jan 31, 2019 11:12am Jan 31, 2019 11:12am
Quoting pradlal
{quote} Scott Carney's books like evo recommended. Search around the intrawebs for downloads, and if it ends up helping you, please do buy the real one.
Many thanks!
  • #44,553
  • Jan 31, 2019 11:35am Jan 31, 2019 11:35am
Good day so far with +64 on YM. Forgive for not showing trades but I have to leave.
I will say this thread has helped me wait for a better entry and at least not chase price. That is my major fault.
  • #44,554
  • Jan 31, 2019 11:43am Jan 31, 2019 11:43am
Ending January on a losing day -37.

Month of January - went through a 340 point drawdown, finished up +383

Trades 96
Winners: 56 (17 BEs)
Losers: 40
W/l: 58%
W/l (no BEs): 49%
Winner to Loser amount Ratio: 1.29 to 1
Total Points: 383
Days Traded: 20
Daily Average: 19.15
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  • #44,555
  • Jan 31, 2019 12:53pm Jan 31, 2019 12:53pm
Hello traders, I wanted to share this with you. after testing a lot of the zonetrading Damian showed the last live session, I applied it today with great succes
6 trades
4 breakevens
2 (small) winners for a total of 40 points. I drew the yellow zones before the session started and the grey ones I added while I was trading. my stop was just above the zone where I entered
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After my session and returned to my computer I didn't adjust anything as you can see that the zones are very good areas where price turned off. Those were longerterm zones and not the same zones as on the first chart
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  • #44,556
  • Jan 31, 2019 12:57pm Jan 31, 2019 12:57pm
Total 3 trades:

+27 +37 +5
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  • #44,557
  • Jan 31, 2019 1:18pm Jan 31, 2019 1:18pm
Quoting Bogdanlinee
Total 3 trades: +27 +37 +5 {image}
You've been paying attention to Evo's trading from the looks of it
  • #44,558
  • Jan 31, 2019 1:31pm Jan 31, 2019 1:31pm
Quoting bmdenton23
{quote} You've been paying attention to Evo's trading from the looks of it
Yes Sir
  • #44,559
  • Jan 31, 2019 2:20pm Jan 31, 2019 2:20pm
Quoting bmdenton23
Ending January on a losing day -37. Month of January - went through a 340 point drawdown, finished up +383 Trades 96 Winners: 56 (17 BEs) Losers: 40 W/l: 58% W/l (no BEs): 49% Winner to Loser amount Ratio: 1.29 to 1 Total Points: 383 Days Traded: 20 Daily Average: 19.15 {image}
Nice January. Mine went to crap in the middle. I think around 100 points for the month. When I look back at trades if I followed my plan or not, its about 55% I can say followed my plan. So still not bad I guess all things considered.
  • #44,560
  • Jan 31, 2019 6:15pm Jan 31, 2019 6:15pm
Quoting bmdenton23
Ending January on a losing day -37. Month of January - went through a 340 point drawdown, finished up +383 Trades 96 Winners: 56 (17 BEs) Losers: 40 W/l: 58% W/l (no BEs): 49% Winner to Loser amount Ratio: 1.29 to 1 Total Points: 383 Days Traded: 20 Daily Average: 19.15 {image}

I marked up the chart with what I think are new structure highs/lows, etc. I'm wondering why you took the shorts where you did?

I want to know if you're seeing things differently than me and if so, how do you see it?

thanks

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