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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

  • #45,081
  • Mar 18, 2019 9:58am Mar 18, 2019 9:58am
Geeeez. -42 on the YM today. The first trade was an error on my part, last trade, went short, only risked about 12 pts. March has sucked for me in terms of P/L. I did manage to place trades with ease today. I tried out that 5-4-3-2-1 method, but it takes awhile, and I found that if I just do a countdown from 3, it makes it very easy. I have no clue why, the mind is a weird thing. Executing has always been my biggest issue, for some reason trade management has never been a problem. Losing days don't really suck to me anymore, now that I realize if I follow my plan, it'll all be okay, and in fact these losses are unavoidable.

Today is my little brothers birthday, so I am going to call it here and go spend time with him, hope you all did well today.
  • #45,082
  • Edited 10:48pm Mar 18, 2019 10:08am | Edited 10:48pm
Quoting spetscom
Did I get my expectation wrong? I thought that we were looking for another NSL this morning. {image}
In my view.... yes, there was a little mini main swing that priced went up past giving you an expectation failure. And yes, that was a new structure high. I noticed you got a nice ABCD to the upside.
Luck has no place in trading. Leave that for the poker table.
  • #45,083
  • Mar 18, 2019 10:11am Mar 18, 2019 10:11am
looking for shorts but on the pain train for YM
  • #45,084
  • Mar 18, 2019 10:35am Mar 18, 2019 10:35am
closed it at 47. did some stupid shit today. i entered the trade perfectly but i realized 20 min later that i had the trade taken on the demo account. lucky to have price come back around the same spot. i exited because i was quite impatient with the way price moving sideways plus got plans for tonight. feel shit about it but locked in profits for today. good luck everyone. see you tomorrow
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  • #45,085
  • Mar 18, 2019 10:44am Mar 18, 2019 10:44am
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.
Nice to have you back Pair-me-up!
  • #45,086
  • Mar 18, 2019 10:51am Mar 18, 2019 10:51am
Well the beat...down goes on, -33 today
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  • #45,087
  • Mar 18, 2019 10:55am Mar 18, 2019 10:55am
-20 pts
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  • #45,088
  • Mar 18, 2019 11:58am Mar 18, 2019 11:58am
Quoting spetscom
Did I get my expectation wrong? I thought that we were looking for another NSL this morning. {image}
sorry for seeing this late. your main swing was 25930 to 25820. it had a expectation failure back to back to make a NSL from the points i mentioned. I'm answering the questions based on your chart lines.

1. " would this be considered a main swing" - before you consider something to be a main swing, try to see if the previous swing (in this case 25930 to 25835)has achieved a correction to 38.2 Fib.
2. "was this actually a NSH?" due to answer 1, the swing from 25810 to 25883 is not a NSH but actually a LH

Hope that helped
  • #45,089
  • Mar 18, 2019 12:25pm Mar 18, 2019 12:25pm
Quoting Pair-me-up
{quote} In my view.... yes, there was a little mini main swing that priced went up past giving you and expectation failure. And yes, that was a new structure high. I noticed you got a nice ABCD to the upside.
Thanks PMU. Looking back now, I don't know how I didn't see that as a NSH. The swing was very clear.
  • #45,090
  • Mar 18, 2019 1:04pm Mar 18, 2019 1:04pm
Done for today +3,+20, +23, +11, +23, +21,+16, -15, -15, -15 .....= +72
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  • #45,091
  • Mar 18, 2019 1:08pm Mar 18, 2019 1:08pm
2 trades
2 losses -122 points
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  • #45,092
  • Mar 18, 2019 1:16pm Mar 18, 2019 1:16pm
Quoting LeanhoneyJD
2 trades 2 losses -122 points {image}
Hi, LeanhoneyJD, I was wondering why on the first trade you do not go break even at the test of the previous high?
Time is an illusion, timing is an art.
  • #45,093
  • Mar 18, 2019 1:26pm Mar 18, 2019 1:26pm
Just one small trade on NQ, got stopped out on the second one. I didn't like how PA was at the open and this is all I got for today..
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  • #45,094
  • Edited Mar 19, 2019 5:22am Mar 18, 2019 1:33pm | Edited Mar 19, 2019 5:22am
Quoting JeanValJean.
{quote} Hi, LeanhoneyJD, I was wondering why on the first trade you do not go break even at the test of the previous high?
Great question, thanks for pointing it out.

I have been backtesting, my backtesting says let the trades run to 161%.
All the trades i was stopped out on ended up running to 161%, besides the ones that retraced 78.6%.

I have admittedly not backtested a significant period yet.

JeanValJean, do you have any comments on the 2nd trade, I would appreciate feedback,

Thanks
JD

EDIT: Above I changed 71.6% to 78.6%
  • #45,095
  • Mar 18, 2019 1:46pm Mar 18, 2019 1:46pm
Quoting LeanhoneyJD
{quote} Great question, thanks for pointing it out. I have been backtesting, my backtesting says let the trades run to 161%. All the trades i was stopped out on ended up running to 161%, besides the ones that retraced 71.6%. I have admittedly not backtested a significant period yet. JeanValJean, do you have any comments on the 2nd trade, I would appreciate feedback, Thanks JD
For the second, you trade in the right direction, it's a expectation failure ...
Time is an illusion, timing is an art.
  • #45,096
  • Mar 18, 2019 7:06pm Mar 18, 2019 7:06pm
Hello, traders!
My trade yesterday, only one. Entered early (with slippage) but "we can't filter our trades". There was a very good rotation later for a better price but my rules say don't add a position. Exit by traling due the session time was over. It was long pain train... How did I manage myself? First, I knew my analysis is right since we have a NSL (because the little correction was not achieve 38%) so I have nothing to worry about. I am backtesting now from January till March and every week ends up with profit even there maybe onу or two losing days if I follow the plan. Second, I found myself better if I am busy with doing something else while I trade and keep an eye on the chart (not Hannon exercise, I found it useless, but I still have many works to practice). +36 pips.
Attached Image (click to enlarge)
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  • #45,097
  • Mar 19, 2019 2:02am Mar 19, 2019 2:02am
Quoting bmdenton23
Well the beat...down goes on, -33 today {image}
Sorry to hear about the continued beatdown .. may I ask why did you move your stop to BE on the first trade? Wasn't that too soon or were you trading the gartley pattern?
  • #45,098
  • Mar 19, 2019 3:59am Mar 19, 2019 3:59am
Quoting Pair-me-up
{quote} Good news!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.
Happy to see you back and healthy PMU.
  • #45,099
  • Mar 19, 2019 4:10am Mar 19, 2019 4:10am
sorry is this correct?
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  • #45,100
  • Mar 19, 2019 8:30am Mar 19, 2019 8:30am
Price has been making new highs since the beg of the day. on the 1597, price made 1:1 to the upside. price has been slowing down in this point and has corrected almost 100% on the intraday. will see what price does
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