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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

  • #45,181
  • Mar 22, 2019 11:06am Mar 22, 2019 11:06am
Taking a little quick counter trend trade. It is just past mid night here. So that means it is Saturday.. so I can work a bit longer knowing that I get to sleep in.
Attached Image (click to enlarge)
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Luck has no place in trading. Leave that for the poker table.
  • #45,182
  • Mar 22, 2019 11:10am Mar 22, 2019 11:10am
Quoting Pair-me-up
Taking a little quick counter trend trade. It is just past mid night here. So that means it is Saturday.. so I can work a bit longer knowing that I get to sleep in. {image}
Because this is a counter trend trade.. I know I must follow the rules of aggressive risk management. This might be a break even trade.
Attached Image (click to enlarge)
Click to Enlarge Name: YM 06-19 (233 Tick).png Size: 43 KB
Luck has no place in trading. Leave that for the poker table.
  • #45,183
  • Mar 22, 2019 11:15am Mar 22, 2019 11:15am
Quoting Mr. Pip
Hello Traders, I know I've been gone for a while. I wanted to let you all know the next live stream is on Thursday 3/28/19. Be there!
You spelt 'live stream' instead of 'fountain of knowledge'.
I'm also just going to mention that it is rare to find someone who knows what he's doing - let alone be such a brilliant teacher. Thanks Damian.
  • #45,184
  • Mar 22, 2019 11:15am Mar 22, 2019 11:15am
Quoting Pair-me-up
{quote} Because this is a counter trend trade.. I know I must follow the rules of aggressive risk management. This might be a break even trade. {image}
out for +5
Luck has no place in trading. Leave that for the poker table.
  • #45,185
  • Mar 22, 2019 11:21am Mar 22, 2019 11:21am
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  • #45,186
  • Mar 22, 2019 11:37am Mar 22, 2019 11:37am
3 wins, 1 loss. (DEMO) +150 points.

-First trade definitely should have been a full winner but for some reason I trailed early... probably because the deep retracement (90%) made me unsure the expectation would play out.

-2nd trade I shouldn't have even taken as it wasn't a valid entry. Oh well.

-3rd and 4th trades I feel very good about.

This ONE day dug me nearly halfway out of my current drawdown. I must remind myself of days like these during periods of time when my performance is suffering.

Wish you all a great weekend!
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  • #45,187
  • Mar 22, 2019 11:55am Mar 22, 2019 11:55am
Entered long again. I did enter a bit early.

Anyways.. locked in my break even.
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Click to Enlarge Name: YM 06-19 (233 Tick).png Size: 40 KB
Luck has no place in trading. Leave that for the poker table.
  • #45,188
  • Mar 22, 2019 12:03pm Mar 22, 2019 12:03pm
Quoting Pair-me-up
Entered long again. I did enter a bit early. Anyways.. locked in my break even. {image}
Locked in a bit more.
Attached Image (click to enlarge)
Click to Enlarge Name: YM 06-19 (233 Tick).png Size: 40 KB
Luck has no place in trading. Leave that for the poker table.
  • #45,189
  • Mar 22, 2019 12:06pm Mar 22, 2019 12:06pm
Quoting Pair-me-up
{quote} Locked in a bit more. {image}
Stopped out on the red line for +64. Alright.. I am going to sleep. Have a nice weekend all.
Attached Image (click to enlarge)
Click to Enlarge Name: YM 06-19 (233 Tick).png Size: 40 KB
Luck has no place in trading. Leave that for the poker table.
  • #45,190
  • Mar 22, 2019 12:16pm Mar 22, 2019 12:16pm
Quoting Pair-me-up
{quote} Stopped out on the red line for +64. Alright.. I am going to sleep. Have a nice weekend all. {image}
This week I only traded for 3 days.

After subtracting my losing trades from my total trades.. My net positive points = +549

That was without any holy grail indicators. All my trades this week have been based on structure created by price and projecting price forward.
Luck has no place in trading. Leave that for the poker table.
  • #45,191
  • Mar 22, 2019 12:30pm Mar 22, 2019 12:30pm
Quoting Pair-me-up
{quote} This week I only traded for 3 days. After subtracting my losing trades from my total trades.. My net positive points = +549 That was without any holy grail indicators. All my trades this week have been based on structure created by price and projecting price forward.
Hi all.

It is great result 2500$ - 3 days.With this consistent You should make money on a daily basis on live.
  • #45,192
  • Mar 22, 2019 1:39pm Mar 22, 2019 1:39pm
Quoting Pair-me-up
{quote} Stopped out on the red line for +64. Alright.. I am going to sleep. Have a nice weekend all. {image}
Glad to have you back and posting. Why the countertrend entry?
  • #45,193
  • Mar 22, 2019 9:06pm Mar 22, 2019 9:06pm
Quoting mtzimmer1
{quote} Glad to have you back and posting. Why the countertrend entry?
Thanks mtzimmer! It is nice to be back.

I took that counter trend trade because I had some good buffer from my first trade. (My goal is 20 points per day.)
Also, price came to one of the termination points that I marked on my charts. Mr.Pip has a video on turning points if that helps.
Luck has no place in trading. Leave that for the poker table.
  • #45,194
  • Mar 23, 2019 8:05am Mar 23, 2019 8:05am
Quoting Pair-me-up
{quote} Thanks mtzimmer! It is nice to be back. I took that counter trend trade because I had some good buffer from my first trade. (My goal is 20 points per day.) Also, price came to one of the termination points that I marked on my charts. Mr.Pip has a video on turning points if that helps.

Fascinating. You certainly timed it right! This video?
https://www.youtube.com/watch?v=JsNIrS8rUWE
  • #45,195
  • Mar 23, 2019 11:43am Mar 23, 2019 11:43am
Quoting mtzimmer1
{quote} Fascinating. You certainly timed it right! This video? https://www.youtube.com/watch?v=JsNIrS8rUWE
You found it.
Luck has no place in trading. Leave that for the poker table.
  • #45,196
  • Mar 23, 2019 3:35pm Mar 23, 2019 3:35pm
Quoting mtzimmer1
{quote} Fascinating. You certainly timed it right! This video? https://www.youtube.com/watch?v=JsNIrS8rUWE
old video, old mic but good content, I had never seen, thank you.
Time is an illusion, timing is an art.
  • #45,197
  • Mar 24, 2019 7:45pm Mar 24, 2019 7:45pm
O.k. I told myself that I wouldn't trade the Asian session, but I am working on some strategies and this one looked like it would follow the price action according to my expectation. It missed my target by just a little bit before bouncing back up.
Attached Image (click to enlarge)
Click to Enlarge Name: YM 06-19 (233 Tick).png Size: 44 KB
Luck has no place in trading. Leave that for the poker table.
  • #45,198
  • Mar 24, 2019 8:13pm Mar 24, 2019 8:13pm
Quoting Pair-me-up
O.k. I told myself that I wouldn't trade the Asian session, but I am working on some strategies and this one looked like it would follow the price action according to my expectation. It missed my target by just a little bit before bouncing back up. {image}
Moved my stop. Initial target has been achieved according to my expectations of price action. Although I still have a lot to learn from Mr.Pip. Mr.Pip is totally correct that MACD, EMAs, etc kind of lagging indicators are not necessarily and that there is no holy grail.

My advice to myself is to keep watching those videos and reading the books. And lots of practice looking at the screen.
Attached Image (click to enlarge)
Click to Enlarge Name: YM 06-19 (233 Tick).png Size: 48 KB
Luck has no place in trading. Leave that for the poker table.
  • #45,199
  • Mar 24, 2019 8:29pm Mar 24, 2019 8:29pm
Quoting Pair-me-up
{quote} Moved my stop. Initial target has been achieved according to my expectations of price action. Although I still have a lot to learn from Mr.Pip. Mr.Pip is totally correct that MACD, EMAs, etc kind of lagging indicators are not necessarily and that there is no holy grail. My advice to myself is to keep watching those videos and reading the books. And lots of practice looking at the screen. {image}
I readjusted my stop to try and give it some breathing room. Got stopped out for +101 That is my first trade of the week.
Luck has no place in trading. Leave that for the poker table.
  • #45,200
  • Mar 24, 2019 9:18pm Mar 24, 2019 9:18pm
Quoting Pair-me-up
{quote} I readjusted my stop to try and give it some breathing room. Got stopped out for +101 That is my first trade of the week.
O.k. I waited for price to retrace a bit. I entered short but price wasn't finished retracing. -> -30
I then analysed my mistake and saw that I was over eager and didn't wait for price to entered a proper area of structure. However, I did reenter around the area that I got stopped out because that would have been the logical place on the chart. (Once I noticed that is.)

I did move my stop closer to my entry once it was positive to reduce more risk. However, being that my goal is only 20 points per day. I feel fine. Of course I don't want to give too much back to the market.
Attached Image (click to enlarge)
Click to Enlarge Name: YM 06-19 (233 Tick).png Size: 49 KB
Luck has no place in trading. Leave that for the poker table.
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