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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

  • #45,061
  • Mar 14, 2019 11:22am Mar 14, 2019 11:22am
do we have a new structure low now?
is that a lower high also?
  • #45,062
  • Mar 14, 2019 12:58pm Mar 14, 2019 12:58pm
Quoting Velikov
{quote} stopped and short {image}
worst day ever
Attached Image (click to enlarge)
Click to Enlarge Name: YM 06-19 (144 Tick) 2019_03_14 (19_56_58 ч.).png Size: 75 KB
  • #45,063
  • Mar 14, 2019 1:17pm Mar 14, 2019 1:17pm
I appreciate that a lot of the dialogue here is focused on the e-minis. Is the polarisation with the NQ and YM, because of the preference for a shorter timeframe?

I currently trade forex on an hourly timeframe?

Do the forex traders following this thread stick to one or two favoured pairs or a much wider watchlist?

My current/old style of price action trading calls(ed) for a big list to find signals. 'Trading what you see' provides a lot more opportunity.

I guess what I'm asking is whether I should focus on a smaller number of pairs?

Many thanks
  • #45,064
  • Mar 14, 2019 4:53pm Mar 14, 2019 4:53pm
I cannot speak as I am not a forex trader, but Damian himself has said in one of his livestreams that he would only trade 2-3 of the most active pairs. I believe it was the euro dollar and there was one other he mentioned.
  • #45,065
  • Mar 14, 2019 5:36pm Mar 14, 2019 5:36pm
Quoting rabbitran
I currently trade forex on an hourly timeframe? Do the forex traders following this thread stick to one or two favoured pairs or a much wider watchlist?
I trade the Forex market using Damian's methodology and trade the major currency pairs. I found if you focus on a couple, you end up in a complex correction either zone trading (not my favorite method) or waiting on the sidelines. If it is a major currency pair and it has made a NSH or NSL in a trend, that is what I am looking to trade. A couple examples below. AUD/USD is in a complex correction on the H1. It has made both a NSH and NSL on the same swing. This is one where I will wait for the market to speak, then look to enter. It either needs to break 0.7100, then pullback or break below the NSL (at the yearly open of 0.7042), then wait for pullback to enter.

Attached Image (click to enlarge)
Click to Enlarge Name: AUD-USD H1 Example.PNG Size: 27 KB


Now the USD-CAD H4 is a different story and moving up now due to NSH and pullback to 50% fib. I have entered this one with my expectation of NSH and hopefully moving back up to the ABCD completion in the 1.36 area. I am a longer term trader versus a day trader. I do enter on the lower TF, but I am in trades for days, weeks, etc. Most of the time with H1 or H4, you have wait for it to move and I adjust position size according to risk (failure of structure).

Attached Image (click to enlarge)
Click to Enlarge Name: USD-CAD H4 Example.PNG Size: 37 KB


I am sure there are those who focus on a couple pairs and do well. I prefer pairs which are moving / trending versus ranging to trade.

Hope that helps and good trading to you...
Good work is the key to good fortune
  • #45,066
  • Mar 15, 2019 4:44am Mar 15, 2019 4:44am
Quoting Rush2112
{quote} I trade the Forex market using Damian's methodology and trade the major currency pairs. I prefer pairs which are moving / trending versus ranging to trade. Hope that helps and good trading to you...
Thank you for the examples and advice. Very helpful.

The quality of response on this thread is excellent.
  • #45,067
  • Mar 15, 2019 7:02am Mar 15, 2019 7:02am
I just opened my charts and saw what price on NQ finally did. The chart shows my trade yesterday on which I sat hours and on which I was too long on the pain train, but ok I am aware on my mistakes.

When I saw PA on "1" (high, re-test, failure, clear low in "2") and then swing "2", I told myself that price is more likely to go down further. So I entered a bit early (Fomo entries) and wanted to trade a 1:1 continuation down. So price went against me, but my ref swing was not violated. Since, my average price was rubbish, I could also not protect.

I just bailed out, since I did not want to hold the position overnight. Then price shooted up instead of completing my expected 1:1. Sometimes, luck helps.

NB: The entries are based on a reduced lot size, so do not wonder on the number of entries. I show it on 144t in order to able to capture the whole screen.
Attached Image (click to enlarge)
Click to Enlarge Name: 1ax.jpg Size: 290 KB
  • #45,068
  • Mar 15, 2019 9:51am Mar 15, 2019 9:51am
DEMO
4 wins
1 loss
1 BE
+34 pts (1.21R)

About the 4th and 5th trades: The longer term 1:1's completed and I believed that the down move was over or at least due for a deep correction. I took the long and protected aggressively for a BE. Price moved lower and I re-entered at a better price with the same expectation and price decided to not cooperate.
Overall pleased with how I traded today.
Attached Image (click to enlarge)
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  • #45,069
  • Mar 15, 2019 10:29am Mar 15, 2019 10:29am
I guess i call it a day. End of a stormy week with DD of -210p. I followed rule & did everything i could. Let's hope that next week would be brighter.
Attached Image (click to enlarge)
Click to Enlarge Name: YM 06-19 (144 Tick) 2019_03_15 (16_25_41).png Size: 56 KB
  • #45,070
  • Mar 15, 2019 10:30am Mar 15, 2019 10:30am
4th losing day of the week, -13
3rd losing week of the year

Week
16 trades, 6 winners (3 BE), 10 losers 38%
Avg Winner 25.33
Avg Loser 25.30
1 to 1 RR
Total Points: -174
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 107 KB
  • #45,071
  • Mar 15, 2019 11:14am Mar 15, 2019 11:14am
I started this week to trade the US30. It's not the Ym but it's the closest my Broker offers. (50 US30 = 1 Ym) Total Today:-46.37pip
Attached Image (click to enlarge)
Click to Enlarge Name: @US30 (21 Tick) 2019_03_15 (12_05_30)Vendredi.png Size: 77 KB
Time is an illusion, timing is an art.
  • #45,072
  • Mar 15, 2019 1:44pm Mar 15, 2019 1:44pm
5 trades
2 Break Even +4p
2 Loss - 69p
1 Win -50p
http://prntscr.com/myf91u
  • #45,073
  • Mar 15, 2019 3:04pm Mar 15, 2019 3:04pm
Hey Pair me up, We are all missing you and wondering how you are. If you are still checking In to this thread , please update us so we we dont have to worry about you.
Jay
Always Learning
  • #45,074
  • Mar 16, 2019 10:24am Mar 16, 2019 10:24am
Quoting JayTrader
Hey Pair me up, We are all missing you and wondering how you are. If you are still checking In to this thread , please update us so we we dont have to worry about you. Jay
Thanks big bro, Jay. I miss everyone and the comradery of the thread with fellow price action traders. Currently still in the hospital for observation. The are giving loads of drugs via iv. One to stop internal bleeding, one is an antibiotic, and one is proton pump inhibitors (ppi) to lower my stomach acid so ulcer(s) can heal. The hospital has to check all my stools, because currently they are black. And they are concerned about my hemoglobin levels. oh and oral drugs as well. ha ha ha If things return to normal they say I can be released by Wednesday of next week. It will be nice not to have an iv needle in my arm 24/7. oh and for now only soft food. So it is difficult to get the minimum 25 grams of protein per day to avoid muscle loss. Thanks for all the good wishes and moral support from you all. It really makes my heart warm and I look forward to getting back on track and continuing to trade, learn, and grow with all of you awesome people!
Luck has no place in trading. Leave that for the poker table.
  • #45,075
  • Mar 18, 2019 6:34am Mar 18, 2019 6:34am
Quoting Pair-me-up
{quote} Thanks big bro, Jay. I miss everyone and the comradery of the thread with fellow price action traders. Currently still in the hospital for observation. The are giving loads of drugs via iv. One to stop internal bleeding, one is an antibiotic, and one is proton pump inhibitors (ppi) to lower my stomach acid so ulcer(s) can heal. The hospital has to check all my stools, because currently they are black. And they are concerned about my hemoglobin levels. oh and oral drugs as well. ha ha ha If things return to normal they say I can be released...
Good news! I just got released early from the hospital today. The doctor said my blood work was normal. My stools are normal. I can't do any weight training for the next 4 weeks. So, it will just be walking and those Hannon exercises on the piano....oh and mouse clicking for trades and drawing on my charts. Yay! I will still take it easy though. I am excited to get a good night's rest at home on a nice bed. After a few days on a hospital bed makes the back and hip bones start to ache.

See you all tonight fellow traders.
Luck has no place in trading. Leave that for the poker table.
  • #45,076
  • Mar 18, 2019 6:47am Mar 18, 2019 6:47am
Quoting Pair-me-up
{quote} Good news! I just got released early from the hospital today. The doctor said my blood work was normal. My stools are normal. I can't do any weight training for the next 4 weeks. So, it will just be walking and those Hannon exercises on the piano....oh and mouse clicking for trades and drawing on my charts. Yay! I will still take it easy though. I am excited to get a good night's rest at home on a nice bed. After a few days on a hospital bed makes the back and hip bones start to ache. See you all tonight fellow traders.
Glad to hear you're ok my friend!
Green pips to all
  • #45,077
  • Mar 18, 2019 8:56am Mar 18, 2019 8:56am
Quoting Pair-me-up
{quote} Good news! I just got released early from the hospital today. The doctor said my blood work was normal. My stools are normal. I can't do any weight training for the next 4 weeks. So, it will just be walking and those Hannon exercises on the piano....oh and mouse clicking for trades and drawing on my charts. Yay! I will still take it easy though. I am excited to get a good night's rest at home on a nice bed. After a few days on a hospital bed makes the back and hip bones start to ache. See you all tonight fellow traders.
Congrats Pair-me-up for the discharge. Great that your test results were normal...
  • #45,078
  • Mar 18, 2019 8:56am Mar 18, 2019 8:56am
Did I get my expectation wrong? I thought that we were looking for another NSL this morning.
Attached Image (click to enlarge)
Click to Enlarge Name: YM 06-19 (144 Tick) 2019_03_18 (9_55_50 AM).png Size: 65 KB
  • #45,079
  • Edited 10:46am Mar 18, 2019 9:05am | Edited 10:46am
Quoting spetscom
Did I get my expectation wrong? I thought that we were looking for another NSL this morning. {image}
My exp. for the immediate, not too happy, but who cares. Lets see if 800 gets retested... Overall bullish.

Update: Out +68P. Trailed earlier. Maybe giving something away, but I am perfectly ok with that . Had various reasons besides session time.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: YMM9-CBOT 233 Trades #2 2019-03-18 10_02_52.535.png Size: 58 KB
Click to Enlarge Name: YMM9-CBOT 144 Trades #2 2019-03-18 11_43_09.142.png Size: 53 KB
  • #45,080
  • Edited 10:26am Mar 18, 2019 9:20am | Edited 10:26am
Hello Traders. win: 47 be: 5 Total: 53
Attached Image(s) (click to enlarge)
Click to Enlarge Name: @US30 (34 Tick) 2019_03_18 (09_51_26)Lundi.png Size: 77 KB
Click to Enlarge Name: @US30 (144 Tick) 2019_03_18 (11_23_22).png Size: 57 KB
Time is an illusion, timing is an art.
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