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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

  • #45,261
  • Mar 27, 2019 8:54am Mar 27, 2019 8:54am
A smaller swing is sufficient to get the daily target.
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  • #45,262
  • Mar 27, 2019 8:59am Mar 27, 2019 8:59am
I got knocked out for -30 points on my 2nd trade tonight.

I am now in my 3rd trade for the day.
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Luck has no place in trading. Leave that for the poker table.
  • #45,263
  • Mar 27, 2019 10:37am Mar 27, 2019 10:37am
Hello Traders, First picture: First Trade 0.5 X -44.30, Second Trade 1 X 86.97. Second Picture: Gartley Pattern, Third Trade: 0.5 X -55.27.
((0.5 X -44.30) +(0.5 X -55.27))=-49,785+(1 X 86.97)= 37.185 For the Day.(-79 For the Week + 37) = -42 For The Week.
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Click to Enlarge Name: @US30 (144 Tick) 2019_03_27 (11_26_19)mercredi1.png Size: 68 KB
Click to Enlarge Name: @US30 (144 Tick) 2019_03_27 (11_32_12)Gartley.png Size: 85 KB
Time is an illusion, timing is an art.
  • #45,264
  • Mar 27, 2019 11:17am Mar 27, 2019 11:17am
5 trades for +29
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  • #45,265
  • Mar 27, 2019 11:22am Mar 27, 2019 11:22am
Kind of a mess today. I did have the short bias at the beginning of the session. When price broke the immediate swing, I felt that the bulls had taken control, hence the losing long trade. Oh well. I was confused and impatient today and it cost me. My trailing mechanism took me out too early of every winning trade as well.

Tomorrow is a new day and I am looking forward to the live stream!
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  • #45,266
  • Mar 27, 2019 12:06pm Mar 27, 2019 12:06pm
Overtime, I let a little go. 0.5 X 53 = 26.5 - 42Week. =-15.5 For the Week
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Click to Enlarge Name: @US30 (34 Tick) 2019_03_27 (13_01_15)JMercredi4.png Size: 59 KB
Time is an illusion, timing is an art.
  • #45,267
  • Mar 27, 2019 1:17pm Mar 27, 2019 1:17pm
sim trades
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  • #45,268
  • Mar 27, 2019 1:40pm Mar 27, 2019 1:40pm
Just one trade on NQ for me today. I saw a good structure on the left and entered a bit early.
Only 35 points in my pocket but I am ok with it..
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  • #45,269
  • Mar 27, 2019 1:53pm Mar 27, 2019 1:53pm
Looking Forward to Damian Live Tomorrow
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  • #45,270
  • Mar 27, 2019 2:33pm Mar 27, 2019 2:33pm
Quoting LeanhoneyJD
Looking Forward to Damian Live Tomorrow
Where ? When ?
I might be wrong , I have been wrong before
  • #45,271
  • Mar 27, 2019 2:54pm Mar 27, 2019 2:54pm
Quoting Mandariin
{quote} Where ? When ?
https://youtu.be/Ybez8c8oQKQ

click on screen and click reminder
  • #45,272
  • Edited Mar 28, 2019 7:55am Mar 27, 2019 11:59pm | Edited Mar 28, 2019 7:55am
Quoting Pair-me-up
I got knocked out for -30 points on my 2nd trade tonight. I am now in my 3rd trade for the day. {image}
I forgot to update this. I got knocked out at the red line. I thought price started being a little .... overly fundamentally drive last night. So, I decided to call it a night.

I also decided that I will not be posting for a while as I plan to go live soon. Thus I will start working on polishing up a few of my mathematically equations that I do manually.

Not only that... I don't want to hog up the thread. I will still stop in from time to time to learn from the charts of the current full time traders.

I appreciate the nice comments that I have gotten. I have also gotten some not so nice comments from those complaining to me that I am not doing trading the correct way or Mr.Pip's way. Although I did learn a lot from Mr.Pip and I realize that most of the time I am averaging between 50 ~100 pips/points per day on intraday trading. So, I don't know what I am doing wrong. I am not using any holy grail indicators, etc. Just my to eyeballs and my cross hairs on my platform, etc

For those that asked for help.. I am grateful for the chance to help out with what I do know and to point them toward a better direction of knowledge than myself, which is this thread and all of the great learning resources that are on it for free. And I am glad that my notes have helped a few. So, far my notes have been downloaded more than 500 times. And some of my other material has been downloaded more than 10,000 times. I am subscribed to Mr.Pip's youtube channel so that I can get notifications when there is a live stream, etc. I suggest to others on the thread to go to Mr.Pip's youtube channel and subscribe by hitting the notification bell icon. If you don't know where Mr.Pip's youtube channel is. Then I suggest look for them in my notes under my profile name here at forex factory.

Have a great day all.

Pair Me Up.
p.s. I was going through my hard drive and I found this gem. Many years ago I downloaded one of Scott Carney's free books from his official website. And here it is with the highlights. You can change the highlighted areas if you want. I hope it helps. This is not the same book as his volumes 1-3 that are much bigger books. However, this is a good one to help some of you total newbies start to understand harmonics. And here is a small file that Lance Beggs shares for free as well. If you are not familiar with his work, you can see how detailed he is. May the odds be in your favor.
Attached File(s)
File Type: pdf Harmonic Trader.pdf   3.0 MB | 523 downloads
File Type: pdf Lance Beggs Reversal.pdf   1.0 MB | 538 downloads
Luck has no place in trading. Leave that for the poker table.
  • #45,273
  • Mar 28, 2019 2:01am Mar 28, 2019 2:01am
Quoting Pair-me-up
{quote} I forgot to update this. I got knocked out at the red line. I thought price started being a little .... overly fundamentally drive last night. So, I decided to call it a night. I also decided that I will not be posting for a while as I plan to go live soon. Thus I will start working on polishing up a few of my mathematically equations that I do manually. Not only that... I don't want to hog up the thread. I will still stop in from time to time to learn from the charts of the current full time traders. I appreciate the nice comments that...
Good work and good luck!

Could we share statistic of how much risk reward we have per trade?
I've been studying and practicing and it seems that a lot of times it's about 1:1 / 1:1.5 risk reward
  • #45,274
  • Mar 28, 2019 5:44am Mar 28, 2019 5:44am
Quoting Offujimori
{quote} Good work and good luck! Could we share statistic of how much risk reward we have per trade? I've been studying and practicing and it seems that a lot of times it's about 1:1 / 1:1.5 risk reward
Sure you can share your risk: reward that you have per trade. For me, I like to risk about 1% and sometimes less, depending on the account size.

As far as my reward a.k.a my take profit. I like to set it up to get at least 20 points. However, I always look for setups that will gain much more..such as 50 or much higher. You need harmonics to do this. And it also depends on the wave(swing) you are trading.
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.
  • #45,275
  • Mar 28, 2019 6:42am Mar 28, 2019 6:42am
Quoting Pair-me-up
{quote} I also decided that I will not be posting for a while as I plan to go live soon. So, far my notes have been downloaded more than 500 times. And some of my other material has been downloaded more than 10,000 times. I am subscribed to Mr.Pip's youtube channel so that I can get notifications when there is a live stream, etc. I suggest to others on the thread to go to Mr.Pip's youtube channel and subscribe by hitting the notification bell icon. If you don't know where Mr.Pip's youtube channel is. Then I suggest look for them in my notes under...
Your notes on Mr Pip's videos have been really helpful. It's a steep learning curve at times and having your perspective on a particular video was great. I'm not sure why anyone would give you flack about the way you trade? Even though we are all drinking at the same well, I'm sure there are plenty of differences in the way that we trade.

I'm not sure what 'going live is', but good luck anyway.
  • #45,276
  • Mar 28, 2019 6:53am Mar 28, 2019 6:53am
Quoting rabbitran
{quote} Your notes on Mr Pip's videos have been really helpful. It's a steep learning curve at times and having your perspective on a particular video was great. I'm not sure why anyone would give you flack about the way you trade? Even though we are all drinking at the same well, I'm sure there are plenty of differences in the way that we trade. I'm not sure what 'going live is', but good luck anyway.
Going live means switching from a demo or simulation account to a funded account with cold hard cash. I can second you there on feeling this is a steep learning curve at times. Post screenshots of your trades! There are many skilled people in this thread happy to help.
  • #45,277
  • Mar 28, 2019 6:59am Mar 28, 2019 6:59am
Quoting mtzimmer1
{quote} Going live means switching from a demo or simulation account to a funded account with cold hard cash. I can second you there on feeling this is a steep learning curve at times. Post screenshots of your trades! There are many skilled people in this thread happy to help.
Okay thanks. I assumed, wrongly, that Pair-me-up was already a 'cold hard cash' player. (Not that it makes any difference in terms of the great information provided).

Thanks for the advice as well. I've temporarily stopped trading while I assimilate all of the new information on this thread.
  • #45,278
  • Mar 28, 2019 7:44am Mar 28, 2019 7:44am
There is a big difference between a demo account and a live account. You can have very good results with a demo account and have a very bad result when you go live. It's not the same game. From what I learned here, the demo account should only be used the time to learn how your trading platform works. The faster you switch to a real account. The faster you learn to deal with your emotion. It's a bit like making war on playstaion in your living room. You can be very good but that does not mean that if you were in a war situation tomorrow morning you would have the same results on the battlefield.
Time is an illusion, timing is an art.
  • #45,279
  • Mar 28, 2019 7:52am Mar 28, 2019 7:52am
[quote=JeanValJean.;12167192]There is a big difference between a demo account and a live account. You can have very good results with a demo account and have a very bad result when you go live. It's not the same game.

I agree. Losing your own money is part of the learning process. I've made some dumb trades this month, trying to run before I can walk. I'd rather sit on the sidelines, read a lot, then trade again with my live account.
  • #45,280
  • Mar 28, 2019 7:58am Mar 28, 2019 7:58am
Quoting Pair-me-up
{quote} I forgot to update this. I got knocked out at the red line. I thought price started being a little .... overly fundamentally drive last night. So, I decided to call it a night. I also decided that I will not be posting for a while as I plan to go live soon. Thus I will start working on polishing up a few of my mathematically equations that I do manually. Not only that... I don't want to hog up the thread. I will still stop in from time to time to learn from the charts of the current full time traders. I appreciate the nice comments that...

I edited this and added two pdf files that some of you aspiring traders may enjoy reading.
Luck has no place in trading. Leave that for the poker table.
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