Ratios & Harmonics: a Different Way to Trade | Page 2247 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

"Ratios & Harmonics: a Different Way to Trade." Summary 37 replies

Learning to trade with harmonics 11 replies

Time for Change - Pivots & Harmonics to freedom 67 replies

180 reasons to trade Harmonics and Patterns 13 replies

Group Trading based on Elliott wave and Harmonics 0 replies

Attachments: Ratios & Harmonics: a Different Way to Trade
Exit Attachments

Ratios & Harmonics: a Different Way to Trade

  • #44,921
  • Edited 11:59am Mar 6, 2019 9:01am | Edited 11:59am
Quoting vonboettiche
Hi guys. I'm having troubles with ranges. If someone has the time, could you elaborate on what your expectations were on the following graph? This is the GBPUSD 233 ticket from today. My expectations are changing so often, it's really messing up my thought process. Because of this, I'm having difficulties drawing proper Fibos, since I'm not sure whether it's not a retracement or not. The particular points in question are the end points of the ranges. My thought process is shown on the second picture, but I got lost in the right hand side of price...
Hi, my point of view. I do not trade the GBP / USD, but I wanted to try with a little ride. Break even. out +2 pips 1$
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbpusd.png Size: 88 KB
Click to Enlarge Name: gbp usd1.png Size: 109 KB
Click to Enlarge Name: GbpUsd3.png Size: 107 KB
Time is an illusion, timing is an art.
  • #44,922
  • Mar 6, 2019 9:15am Mar 6, 2019 9:15am
Thanks everyone, amazing replies! @Hansl: thanks for pointing out that the last LH is not valid. Good point - just checked back in history, and not qualifying that as a valid LH seems to save some bananas. Best of luck to all!
  • #44,923
  • Mar 6, 2019 11:09am Mar 6, 2019 11:09am
-56 on 1 losing trade and 1 failed rescue, needed 3 more points on my stop and would've had a nice rescue/winner. Thats the way the cookie crumbles...
(Week -2)
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 105 KB
  • #44,924
  • Mar 6, 2019 11:41am Mar 6, 2019 11:41am
Quoting bmdenton23
-56 on 1 losing trade and 1 failed rescue, needed 3 more points on my stop and would've had a nice rescue/winner. Thats the way the cookie crumbles... (Week -2) {image}

It sounds like you need a glass of make for those stale cookies, my friend. ha ha ha just kidding.

Are you still using fibs and projecting price forward as per the rules of harmonics? It seems like it has been a rocky start for the month of March so far.
Luck has no place in trading. Leave that for the poker table.
  • #44,925
  • Mar 6, 2019 11:59am Mar 6, 2019 11:59am
2 trades 2 loses -78p
1nr trade stop to close to resistance
1nr trade just a terrible trade :-(

http://prntscr.com/mu72iq
  • #44,926
  • Mar 6, 2019 12:36pm Mar 6, 2019 12:36pm
Quoting Pair-me-up
{quote} It sounds like you need a glass of make for those stale cookies, my friend. ha ha ha just kidding. Are you still using fibs and projecting price forward as per the rules of harmonics? It seems like it has been a rocky start for the month of March so far.
Mmmmmm yes still trading the same way.......
March
9 wins (2 BEs)
5 losses
+22 on the month
  • #44,927
  • Mar 6, 2019 2:10pm Mar 6, 2019 2:10pm
I made many mistakes today:
My stops were too close so I moved the stop up where I thought is should have been and reentered only to increase the the on the first trade.
With a 53 point loss after the first two trades I started trading the "Money" instead of the charts.
While did recover some, I ended up down 135 points.
  • #44,928
  • Mar 7, 2019 5:08am Mar 7, 2019 5:08am
Hey all,

I am long-term observer of this wonderful thread.

I have been studying to trade for nearly ten years. I viciously got caught in the method swapping cycle, and realised by year 8 it was not so much the method, but my mindset was the problem. After reading a truckload of books on psychology - Mark Douglas being my favourite – I am testing Damian's method on the GBP/USD.

Ultimately I would work with a tick chart, though for the purpose of testing, the M5 order flow will suffice.

My results, thus far, are encouraging. The test has taken around a week and a half as I am taking is slowly.

I have certainly noticed trailing stops are a big key to the large gains in some trades...

My win/loss ratio is at 60/40, though varies from 50/50 to 65/35.

I just thought this post may encourage some newer members here.
Attached Image (click to enlarge)
Click to Enlarge Name: 2019-03-07_10-59-32.jpg Size: 319 KB
  • #44,929
  • Edited 6:06am Mar 7, 2019 5:51am | Edited 6:06am
Quoting Aaron4X
Hey all, I am long-term observer of this wonderful thread. I have been studying to trade for nearly ten years. I viciously got caught in the method swapping cycle, and realised by year 8 it was not so much the method, but my mindset was the problem. After reading a truckload of books on psychology - Mark Douglas being my favourite – I am testing Damian's method on the GBP/USD. Ultimately I would work with a tick chart, though for the purpose of testing, the M5 order flow will suffice. My results, thus far, are encouraging. The test has taken around...
Glad you came to the conclusion sticking to one strategy after 8 years. You definitely came to the right place if you really want to achieve something. In my opinion Damian teaches the best basics on which you can build your trading.
Keep up your testing and stick to it for longer periods of time. Wish you green pips doing that and feel free to post your trades!

Edit: Rewatched your image. Was a little confused by it since I am not using MT(?). Keep up your testing for longer periods of time to give more value to it. Glad it is green so far.
  • #44,930
  • Mar 7, 2019 7:40am Mar 7, 2019 7:40am
Well fellas, rolled over today without thinking about it, and I'm on the 06 contract with no volume . I kind of forced myself to sit out today. Time for backtesting! Happy trading all.
  • #44,931
  • Mar 7, 2019 7:50am Mar 7, 2019 7:50am
Hi folks,

I have a question about further reading on Harmonics.

'The Harmonic Trader' is not in print (according to Amazon). Would you recommend Scott Carney's Harmonic Trading, Volume 1 and 2? I think there's a third now according to his web site.

I am, of course, working through everything Damian has on offer here, plus all of your valuable contributions. But I'm new to this science and thought some support material could be helpful.

Many thanks.
  • #44,932
  • Mar 7, 2019 8:51am Mar 7, 2019 8:51am
Update on my long term short trade. Bears are picking up speed. I think they have a fairly good chance to breach my supply / demand zone red box below by a tad or so. Time will tell. I also got the bears doing their bear thing on the NQ as well.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: YM 03-19 (240 Minute).png Size: 51 KB
Click to Enlarge Name: NQ 03-19 (240 Minute).png Size: 84 KB
Luck has no place in trading. Leave that for the poker table.
  • #44,933
  • Mar 7, 2019 9:09am Mar 7, 2019 9:09am
Only caught 78 points in that big down market today. I was waiting for a bigger pull back and shoud have switched to short term order flow earlier.
Attached Image (click to enlarge)
Click to Enlarge Name: 7Mar19.jpg Size: 204 KB
  • #44,934
  • Mar 7, 2019 9:22am Mar 7, 2019 9:22am
Hey Mr. Pip,

I'm new to the thread and what I would consider a beginner when it comes to price action trading. I was referred to this thread by one of your current members. I'll be looking over some material and then taking a shot at some charts so hopefully with your guidance and education, I can turn my results around from those lagging indicators. Very excited to learn something that works and produces tangible results. Looking forward to the knowledge to follow.

Thanks!

SF
Green pips to all
  • #44,935
  • Mar 7, 2019 9:55am Mar 7, 2019 9:55am
Quoting NNtrader
Only caught 78 points in that big down market today. I was waiting for a bigger pull back and shoud have switched to short term order flow earlier. {image}
So I took two more trades for 92 Total points. Off to play golf.
Attached Image (click to enlarge)
Click to Enlarge Name: 7Mar19_a.jpg Size: 173 KB
  • #44,936
  • Mar 7, 2019 10:22am Mar 7, 2019 10:22am
Quoting JeanValJean.
{quote} Hi, my point of view. I do not trade the GBP / USD, but I wanted to try with a little ride. Break even. out +2 pips 1$ {image} {image} {image}
I made a mistake, yesterday I wrote HL instead of NSL. Long Therm Expectation is For a NSH...
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GbpUsd3.png Size: 108 KB
Click to Enlarge Name: gbp5.png Size: 77 KB
Click to Enlarge Name: gbp6.png Size: 75 KB
Time is an illusion, timing is an art.
  • #44,937
  • Mar 7, 2019 10:45am Mar 7, 2019 10:45am
Wasn't able to focus on trading this morning so only took 2 trades, +68, +16
(Week +82 )
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 85 KB
  • #44,938
  • Edited 1:22pm Mar 7, 2019 12:56pm | Edited 1:22pm
I missed the whole downmove, since I came late to the charts.

My initial plan was to trade to the 200 fib. I added a third position and got taken out by trail.
Then I got caught by the heavy downmove, and entered short (I thaught at that time, "too optimistic initial plan"). Got taken out with a loss (+rescue failed).
The last trade was more a revenge trade (with some logic) fo the previous loss, so not to do.
Attached Image (click to enlarge)
Click to Enlarge Name: 1a.jpg Size: 349 KB
  • #44,939
  • Mar 7, 2019 1:17pm Mar 7, 2019 1:17pm
Quoting bmdenton23
Wasn't able to focus on trading this morning so only took 2 trades, +68, +16 (Week +82 ) {image}
Congrats, even if in front of the chart in time, I would have missed your first entry.
  • #44,940
  • Mar 7, 2019 1:22pm Mar 7, 2019 1:22pm
Quick question: I just found Damian's part about longterm short term order flow, and the two aligning / not aligning. Can some of you experienced fellas tell me if I'm right with this: we have a long term expectation based on long-term chart order flow. We have short term expectations based on short term chart order flow.
1) If short term goes against long term, we typically expect a complex correction?
2) What is the significance of trading against the long term order flow?
Best and <3
66 traders viewing now