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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

  • #44,821
  • Feb 27, 2019 9:17am Feb 27, 2019 9:17am
Quoting Chrysmere
{quote} You can't have a LH until you have made another NSL so your last LH shouldn't be labeled as such. Based on your labels, your expectation for a NSL has failed as price has breached the LH near the blue arrow. However, on the more immediate orderflow price has made a NSL. Pick an orderflow to trade and set expectations and stops accordingly.
Thank you for the input
  • #44,822
  • Feb 27, 2019 9:26am Feb 27, 2019 9:26am
One more question, if you don't mind.
If now price will go down before it retrace to 38%, so our mine swing becomes even larger, yes? Or we can "jump in" a immediate order flow?
  • #44,823
  • Feb 27, 2019 9:27am Feb 27, 2019 9:27am
I would like to take a moment to really thank Damian for all he has done, and how helpful you guys are as well. I have been trading for 2 years, started in stocks, and eventually moved to futures because I was tired of constantly scanning for stocks and trying to watch 30 different tickers. I never could justify using indicators and I knew that price action was king and that somebody out there must be capitalizing on it. I stumbled upon Damian's channel and my trading has seen immense improvements. I am currently holding a 81% win-rate since I started using his system in early January. I am still learning, but chart reading has become much easier for me as well. Thanks everyone.
  • #44,824
  • Feb 27, 2019 9:31am Feb 27, 2019 9:31am
Quoting Ilia-
One more question, if you don't mind. If now price will go down before it retrace to 38%, so our mine swing becomes even larger, yes? Or we can "jump in" a immediate order flow?
Yes just move to the IOF. Trade 25935 to 25872
  • #44,825
  • Feb 27, 2019 9:32am Feb 27, 2019 9:32am
I decided to take a look at the 144 tick chart tonight and see what it is getting so much love from some of the traders.

Also, working on my drawing rules for my supply/demand zones. At the beginning I was using a kendo sword. However, I know am hammering out some metal and forging a katana. Having rules definitely helps to better control the emotions.
Attached Image (click to enlarge)
Click to Enlarge Name: YM 03-19 (144 Tick).png Size: 53 KB
Luck has no place in trading. Leave that for the poker table.
  • #44,826
  • Feb 27, 2019 9:39am Feb 27, 2019 9:39am
Quoting Ilia-
One more question, if you don't mind. If now price will go down before it retrace to 38%, so our mine swing becomes even larger, yes? Or we can "jump in" a immediate order flow?

If it doesn't touch the 38.2% ....According to the rules of harmonics it is not a valid correction. And if it keeps going, then you are right that it is just one long swing that hasn't come to a harmonic correction yet. Let me post a chart for you.
Luck has no place in trading. Leave that for the poker table.
  • #44,827
  • Feb 27, 2019 9:42am Feb 27, 2019 9:42am
Sorry, guys, I just kind of talking in my mind and have no answer... If now price will go up and hit SL, we can continue to trade immediate order flow OR should we looking for possible SHORT as the price corrected much deeper into the large main swing?
If we change order flow often it also will be affect our frequency and expectancy as well, isn't it?
  • #44,828
  • Feb 27, 2019 9:42am Feb 27, 2019 9:42am
Quoting Pair-me-up
I decided to take a look at the 144 tick chart tonight and see what it is getting so much love from some of the traders. Also, working on my drawing rules for my supply/demand zones. At the beginning I was using a kendo sword. However, I know am hammering out some metal and forging a katana. Having rules definitely helps to better control the emotions. {image}

I extended my fib tool for this long swing. And wa la .. we finally have a 38.2% harmonic correction.
Attached Image (click to enlarge)
Click to Enlarge Name: YM 03-19 (144 Tick).png Size: 55 KB
Luck has no place in trading. Leave that for the poker table.
  • #44,829
  • Feb 27, 2019 9:45am Feb 27, 2019 9:45am
Quoting Ilia-
Sorry, guys, I just kind of talking in my mind and have no answer... If now price will go up and hit SL, we can continue to trade immediate order flow OR should we looking for possible SHORT as the price corrected much deeper into the large main swing? If we change order flow often it also will be affect our frequency and expectancy as well, isn't it?
You can do both, now you can look to trade the IOF long until you can afford to the trade the larger order flow. I do it everyday.
  • #44,830
  • Feb 27, 2019 9:46am Feb 27, 2019 9:46am
Quoting Ilia-
Sorry, guys, I just kind of talking in my mind and have no answer... If now price will go up and hit SL, we can continue to trade immediate order flow OR should we looking for possible SHORT as the price corrected much deeper into the large main swing? If we change order flow often it also will be affect our frequency and expectancy as well, isn't it?
https://www.forexfactory.com/showthread.php?p=10900747#post10900747

There is a price action trading document that I wrote almost a year ago. It is my notes from all of Mr.Pip's lessons and his other youtube channels. I would suggest you watch the first video about the main and dominant swing. Then everything else will be much easier.
Luck has no place in trading. Leave that for the poker table.
  • #44,831
  • Feb 27, 2019 9:47am Feb 27, 2019 9:47am
Quoting Pair-me-up
{quote} If it doesn't touch the 38.2% ....According to the rules of harmonics it is not a valid correction. And if it keeps going, then you are right that it is just one long swing that hasn't come to a harmonic correction yet. Let me post a chart for you.
Thank you for answer me! May I ask you why you put your pending order in that place?
  • #44,832
  • Feb 27, 2019 9:50am Feb 27, 2019 9:50am
Quoting spetscom
I would like to take a moment to really thank Damian for all he has done, and how helpful you guys are as well. I have been trading for 2 years, started in stocks, and eventually moved to futures because I was tired of constantly scanning for stocks and trying to watch 30 different tickers. I never could justify using indicators and I knew that price action was king and that somebody out there must be capitalizing on it. I stumbled upon Damian's channel and my trading has seen immense improvements. I am currently holding a 81% win-rate since I started...

Man that is inspiring to hear! I stumbled upon Damian's teachings only a month ago and already feel I understand price action better than I ever have before. If you don't mind me asking, what is your average win and average loss. With a win rate that high you must give up a little bit of the R:R no?

Thanks!
  • #44,833
  • Feb 27, 2019 9:54am Feb 27, 2019 9:54am
Quoting Ilia-
{quote} Thank you for answer me! May I ask you why you put your pending order in that place?
That is not a pending order. A pending order doesn't not activate until price hits it. I am trading the larger order flow. However, I decided to have some fun observing the 144 tick chart tonight. Most of the time, the smallest tick charts I use are the 233 tick chart and the 89 tick chart.

Also, along with your studies.. after watching Mr. Pip's training videos, read the books from Scott Carney Harmonic Trader. They will be more clear after watching Mr. Pip's live streams and videos and also read the books from Lance Beggs YTC.

Also, when you become advanced with harmonics... which that is not me yet... but you can see many harmonic patterns by CNTrader. CNTrader doesn't teach, but he post his charts for self study.

May the odds be in your favor.
Luck has no place in trading. Leave that for the poker table.
  • #44,834
  • Feb 27, 2019 9:56am Feb 27, 2019 9:56am
That first setup I just could not pass up. The reward at 1:1 completion was 4.5x the risk. When an open trade is going in my favor I am working on a strategy to trade the Immediate Order Flow in the same direction of the open trade. Today worked out perfectly. Have to remind myself after days like this that, unfortunately trading is usually not this easy.

Hope you all had great trading days as well!
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  • #44,835
  • Feb 27, 2019 10:26am Feb 27, 2019 10:26am
Quoting Pair-me-up
{quote} That is not a pending order. A pending order doesn't not activate until price hits it. I am trading the larger order flow. However, I decided to have some fun observing the 144 tick chart tonight. Most of the time, the smallest tick charts I use are the 233 tick chart and the 89 tick chart. Also, along with your studies.. after watching Mr. Pip's training videos, read the books from Scott Carney Harmonic Trader. They will be more clear after watching Mr. Pip's live streams and videos and also read the books from Lance Beggs YTC. Also, when...
Thanks a lot! I had already read your notes, you did very good job! Sure I must reread it more carefully.
  • #44,836
  • Feb 27, 2019 10:38am Feb 27, 2019 10:38am
Quoting Pair-me-up
{quote} https://www.forexfactory.com/showthread.php?p=10900747#post10900747 There is a price action trading document that I wrote almost a year ago. It is my notes from all of Mr.Pip's lessons and his other youtube channels. I would suggest you watch the first video about the main and dominant swing. Then everything else will be much easier.
Thanks man. I'll give that a read. Mr Pip is pretty thorough in his Youtube videos but I always like to get other peoples interpretations.
  • #44,837
  • Feb 27, 2019 10:45am Feb 27, 2019 10:45am
There is now a situation I mentioned before. Price made very weak NSH and technically made a proper correction to 38%. But if I follow that rule it puts me in the next main swing which is very tiny just about 27 pips. What should I do? If I can't break the rules i should trade this micro movement. If I can, so... So what?.. I don't know
Attached Image (click to enlarge)
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  • #44,838
  • Feb 27, 2019 10:47am Feb 27, 2019 10:47am
Quoting Ilia-
There is now a situation I mentioned before. Price made very weak NSH and technically made a proper correction to 38%. But if I follow that rule it puts me in the next main swing which is very tiny just about 27 pips. What should I do? If I can break the rules i should trade this micro movement. If I can, so... So what?.. I don't know {image}

Mr.Pip explains this scenario in his videos. This is also related to risk reward.
Luck has no place in trading. Leave that for the poker table.
  • #44,839
  • Feb 27, 2019 10:50am Feb 27, 2019 10:50am
BTW, today was very good day, I think. I am very appreciate all your help and comments and support to me as I'm just start to learn.
Here is my trades. Last one I cancelled since there was not a proper rotation, I was waiting enter in this area, it was SOS3 signal, but because I should train myself to follow the rules I decided to cancel it. But it ran good.
See you tomorrow and wish you a good day (or a good night like for me)
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  • #44,840
  • Feb 27, 2019 10:54am Feb 27, 2019 10:54am
2 trades for me today, +119, +1
(+201 week)

Second trade was IOF Gartley...ish.
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