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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

  • #44,961
  • Mar 8, 2019 9:33am Mar 8, 2019 9:33am
Quoting Pair-me-up
{quote} Update: I am seeing if I can lure the bears into my next supply / demand zone. Time will tell. {image} {image}
What made you decide to get short in that area?
  • #44,962
  • Mar 8, 2019 9:40am Mar 8, 2019 9:40am
Hey guys, correct me if I'm wrong, but I kind of had a realization last night after one of my family members asked me how my trading was going. When people ask "How did trading go today?" I would often get a bit of anxiety if I had a losing day, or prepared to explode with excitement if it was a green day. But I feel like this is the wrong attitude to hold, or at least an unprofessional attitude. It seems to me that the professional answer as to how trading went, would be dependent on if you stuck to your plan or not. If I have a big green day, but broke all of my rules, then was it really a good day...? It doesn't seem like that to me. What are your thoughts?
  • #44,963
  • Mar 8, 2019 9:57am Mar 8, 2019 9:57am
spetscom - Your day to day, even week to week should have very little to do with "how's your trading going".
My .02 cents, trade for 3 months, zoom out on your P/L chart, is it angled up or down, adjust your feelings accordingly.

I went on a rant with this post about that subject.
Here's .04 or .05 cents worth.....
https://www.forexfactory.com/showthread.php?p=12056435#post12056435
  • #44,964
  • Mar 8, 2019 10:26am Mar 8, 2019 10:26am
2 trades on March contract, bailed on the first for -1, loser on the second, same swing.

Week
12 trades, 8 winners (3 BE), 4 Losers
Avg Winner 32.2, Avg Loser 29.7
Total Points +43

My frequency needs to be higher next week. I typically average 4.4 trades per day.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 117 KB
  • #44,965
  • Mar 8, 2019 10:48am Mar 8, 2019 10:48am
Quoting spetscom
{quote} What made you decide to get short in that area?

Harmonics+structure analysis. Also, if you go to my user profile you will find an area where I have loaded files. One is called Price Action Trading. They are my notes from Mr.Pip's videos. In that doc, I also but the links to all of Mr.Pip's youtube channels, which have all his trading videos and live stream videos.

also read the books from Scott Carney Harmonic Trader.. there are 3 volumes.. I have only read 2 of the volumes. And read Lance Beggs YTC... I don't agree with everything Lance says... but he has good knowledge for other things.
Luck has no place in trading. Leave that for the poker table.
  • #44,966
  • Mar 8, 2019 2:49pm Mar 8, 2019 2:49pm
Hi guys
hope your doing well

anyone knows how to change Fibonacci Retracements level . I want to have exactly, looks like Mr.Pip has.
im using Ninja Trade 8.
thanks for helping

have a great time
  • #44,967
  • Edited 3:49pm Mar 8, 2019 3:37pm | Edited 3:49pm
2 trades:

nr1: NSH (-38)
nr2: Firstly, I didn't enter at the 61.80% fib, because there was no strong rotation candle -> then It made an immediate NSH -> came back nicely to my structure -> didn't wanna miss on this opportunity but because of the shallow correction to the 38.20 fib I decided to enter with only 1/2 of my full position (and the pain train began ). Entered a second time on the rotation candle in the golden zone -> it corrected even deeper -> afterwards at retest of structure I knew there was no way for me to fully remove my risk, since there was a huge possibility It would take me out at a break-even (at the 50% fib), so I decided to remove some risk and let price do its thing. (+106)
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot4.png Size: 162 KB
  • #44,968
  • Mar 8, 2019 9:10pm Mar 8, 2019 9:10pm
Quoting bmdenton23
2 trades on March contract, bailed on the first for -1, loser on the second, same swing. Week 12 trades, 8 winners (3 BE), 4 Losers Avg Winner 32.2, Avg Loser 29.7 Total Points +43 My frequency needs to be higher next week. I typically average 4.4 trades per day. {image}
Why did you bail on the first trade before test of structure? Thanks!
  • #44,969
  • Mar 8, 2019 9:10pm Mar 8, 2019 9:10pm
Quoting sam960
Hi guys hope your doing well anyone knows how to change Fibonacci Retracements level . I want to have exactly, looks like Mr.Pip has. im using Ninja Trade 8. thanks for helping have a great time
I believe this is what you are looking for:

https://lh4.googleusercontent.com/M6...bV0hzmW6mWJjSA

https://lh5.googleusercontent.com/WG...44SbK21SbyHRkA


https://lh5.googleusercontent.com/nQ...4LDhizz4mBr0pQ
Attached File(s)
File Type: docx Ninja Fib Settings.docx   198 KB | 307 downloads
  • #44,970
  • Mar 8, 2019 9:16pm Mar 8, 2019 9:16pm
Quoting mtzimmer1
{quote} Why did you bail on the first trade before test of structure? Thanks!
Cos he was trading the 3rd swing to the downside which is shown as the 50% to 100% retracement drawn on the chart(yellow and blue line).

bmdenton23 traded the same swing. I was also about to trigger my sell on this swing but I did not get the rotation I was looking for.
  • #44,971
  • Mar 8, 2019 9:39pm Mar 8, 2019 9:39pm
Quoting mtzimmer1
{quote} Why did you bail on the first trade before test of structure? Thanks!
I’ll occasionally bail on big rotations against me but generallly am pretty aggressive about re-entry.
My goal is
1. To be out of trade if price is going to continue aggressively against me.
2. To get a better price.

It can be difficult at times to re-enter though, and can certainly be frustrating when you bail on an entry that moves on to target so I don’t really recommend it. Unfornately it comes down to “feel” which is completely subjective.
  • #44,972
  • Mar 10, 2019 11:02am Mar 10, 2019 11:02am
Quoting bmdenton23
{quote} I’ll occasionally bail on big rotations against me but generallly am pretty aggressive about re-entry. My goal is 1. To be out of trade if price is going to continue aggressively against me. 2. To get a better price. It can be difficult at times to re-enter though, and can certainly be frustrating when you bail on an entry that moves on to target so I don’t really recommend it. Unfornately it comes down to “feel” which is completely subjective.
So the second entry is essentially a continuation of the same trade at a better price? Thank you for your response!
  • #44,973
  • Mar 11, 2019 9:19am Mar 11, 2019 9:19am
Out for +38 on the YM today. I took a short this morning and caught a good piece of that final move to the downside near the open. YM is nuts today to the upside. I did not take any long positions because there was really nowhere I found suitable to get in without it simply being chasing. I would rather miss out on the big move and stick to my rules rather than wildly chasing with FOMO. I hope some of you guys found some good entries on it though.
  • #44,974
  • Mar 11, 2019 9:24am Mar 11, 2019 9:24am
Quick question on huge moves like this, at what point would it be considered a breakdown of structure? There really isn't much structure on this big swing to the upside, it is basically just moving straight up with very shallow retracements. So at what point would we consider it simply a complex correction, and at what point would we consider it actual expectation failure?

See img
Attached Image (click to enlarge)
Click to Enlarge Name: YM 06-19 (144 Tick) 2019_03_11 (10_22_20 AM).png Size: 51 KB
  • #44,975
  • Edited 10:11am Mar 11, 2019 9:59am | Edited 10:11am
Quoting spetscom
Quick question on huge moves like this, at what point would it be considered a breakdown of structure? There really isn't much structure on this big swing to the upside, it is basically just moving straight up with very shallow retracements. So at what point would we consider it simply a complex correction, and at what point would we consider it actual expectation failure? See img {image}

Hello Spetscom! Same movement is happening here in Brazil. I guess that in times like this, you have to choose between trade short term order flow wich we can see that there are higher and lows going on or wait in the fence if you prefer trading a larger order flow.

It seems that market is on a rally... ATM I'm trading short term orderflow when I've noticed It climbed +1% here without any considerable retracement. I was like "It seems its one of those days..."

Answering your question, you could try to go back in time and check if there is a movement like this before that had a retracement and than apply that on graph so you can have at least a north of what could be considered a retracement for that move. After, you check if there is some price structure where it should be the retracement.

Probably expecation failure considering that image right now would be below 25240 wich is below previous price structure... But it's rare to climb that much and fall that much without changing It's amplitude and showing you new highs and lows that you may like.
What I can say clearly is price is going up... maybe wait for a new alignement between short term and long term on uptrend.
  • #44,976
  • Mar 11, 2019 10:03am Mar 11, 2019 10:03am
Quoting spetscom
Quick question on huge moves like this, at what point would it be considered a breakdown of structure? There really isn't much structure on this big swing to the upside, it is basically just moving straight up with very shallow retracements. So at what point would we consider it simply a complex correction, and at what point would we consider it actual expectation failure? See img {image}
The blue dotted line would be a good place to enter on the immediate order flow with red line being your SL. this could change since price has been moving up rapidly.
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  • #44,977
  • Mar 11, 2019 10:51am Mar 11, 2019 10:51am
-54 on the day, failed rescue, 2 break evens.....
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  • #44,978
  • Mar 11, 2019 11:05am Mar 11, 2019 11:05am
approaching break even
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  • #44,979
  • Mar 11, 2019 11:18am Mar 11, 2019 11:18am
breakeven +5.

Candles were getting smaller at the structure. price had revisited the area before and corrected quite deep. Should have understood that signal when it got there the first time and with the candles getting smaller when the bulls went for their second run.
  • #44,980
  • Mar 11, 2019 1:21pm Mar 11, 2019 1:21pm
2 trades
1nr 49 points
1nr 3 points breakeven

http://prntscr.com/mwgc75
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