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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

  • #45,301
  • Edited 9:35am Mar 31, 2019 12:52am | Edited 9:35am
Hey guys, was unable to trade this week unfortunately, but I'm doing my mandatory market replay. The EURUSD was so extremely choppy with massive swings and tons of expectation failures. Does anyone have any tips for applying Damians system with these massive swings? It was a porcupine valley with these long tail candles. I tried to use a shorter order flow, but that also doesn't help with the expectation failures.
  • #45,302
  • Edited 8:33am Mar 31, 2019 3:34am | Edited 8:33am
Quoting vonboettiche
Hey guys, was unable to trade this week unfortunately, but I'm doing my mandatory market replay. The EURUSD was so extremely choppy with massive swings and tons of expectation failures. Does anyone have any tips for applying Damians system with these massive swings? It was a porcupine valley with these long tail candles. I tried to use a shorter order flow, but that also help with the expectation failures.
I know some guys here are trading Forex and may be profitable, but my advise is to not trade it. You described the obvious reasons. I would go for futures instead or indices (US30 etc.)

Just my point of view.
  • #45,303
  • Mar 31, 2019 5:47pm Mar 31, 2019 5:47pm
I was doing some spring cleaning on my computer last night. I found this gem and I thought I might share it with those that stress out about trying to get too many points.

As you can see from this document. 20 points per day on average will give you a handsome return.

So, if lets say that in one week, you have some losing trades, but then you have a few trades that are much larger than 20 points....which from my experience seems too be very common on the YM, then you will average at least 20 points per day in a week.

So if you have a 10,500 account. And you have a lot size or contract size of roughly $1 USD per point or pip you will see in this excel spread sheet where you can be at in about a year.

I hope this will have some value to those who don't understand how powerful only 20 point/pips can per day with correct money management.

Peace out!

Pair Me Up
Attached File(s)
File Type: xls Forex spreadsheet.xls   83 KB | 421 downloads
Luck has no place in trading. Leave that for the poker table.
  • #45,304
  • Apr 1, 2019 4:11am Apr 1, 2019 4:11am
Quoting vonboettiche
Hey guys, was unable to trade this week unfortunately, but I'm doing my mandatory market replay. The EURUSD was so extremely choppy with massive swings and tons of expectation failures. Does anyone have any tips for applying Damians system with these massive swings? It was a porcupine valley with these long tail candles. I tried to use a shorter order flow, but that also doesn't help with the expectation failures.
I'm a nubee with Damian's, 'trade what you see', but I do trade Forex. You touch on a point I made a couple of weeks ago. Do you trade one or two pairs, or do you have a bigger watchlist? Part of the answer to that question is timeframe, are you an intraday trader? The shorter the timeframe, the more polarised the trading.

One way forward is to leave EURUSD alone and find another pair(s).

That's probably not the answer you're looking for.

EURUSD on Friday, 5 minute chart, would only have been possible with wider stops and the longer order flow. Easy to say in hindsight when you can see the direction and avoid the expectation failures. AUDJPY, same day, 5 minute chart, would have been easier to make money.
  • #45,305
  • Apr 1, 2019 4:17am Apr 1, 2019 4:17am
Try GBPUSD M1
Quoting vonboettiche
Hey guys, was unable to trade this week unfortunately, but I'm doing my mandatory market replay. The EURUSD was so extremely choppy with massive swings and tons of expectation failures. Does anyone have any tips for applying Damians system with these massive swings? It was a porcupine valley with these long tail candles. I tried to use a shorter order flow, but that also doesn't help with the expectation failures.
  • #45,306
  • Apr 1, 2019 6:17am Apr 1, 2019 6:17am
Hello Traders, Sorry I forgot to post the stream. Here it is and there is another one on April 9 Tuesday.

https://youtu.be/Ybez8c8oQKQ
If you fail to plan, you plan to fail.
  • #45,307
  • Apr 1, 2019 6:45am Apr 1, 2019 6:45am
nailed this one good
Attached Image (click to enlarge)
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  • #45,308
  • Apr 1, 2019 7:17am Apr 1, 2019 7:17am
Quoting Velikov
nailed this one good {image}
you went contra-trend here we mostly trade with the trend or do i miss something?
  • #45,309
  • Apr 1, 2019 8:02am Apr 1, 2019 8:02am
Quoting vladutz112
{quote} you went contra-trend here we mostly trade with the trend or do i miss something?
Week NSH = deep correction
  • #45,310
  • Apr 1, 2019 8:48am Apr 1, 2019 8:48am
Done for the day. 1 Breakeven on the ES for +2 ticks. I followed my plan, was up 4.50 points, but it didn't end up hitting the 127 so I never began trailing. Oh well, just happy to have followed my plan and closed out the day green doing so.
  • #45,311
  • Apr 1, 2019 9:10am Apr 1, 2019 9:10am
1x trade for me today, a BE+1, always irritating to be up +40 and end up with 1 point.
Attached Image (click to enlarge)
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  • #45,312
  • Apr 1, 2019 9:26am Apr 1, 2019 9:26am
Hi folks!

Today was my first day trading live. I have decided to take the plunge but do not feel comfortable with the risk associated with even one contract of YM. For the time being I will be honing my skills on the SPY ETF which tracks the S&P500. This allows me to trade with much less risk per trade which will help me to keep my emotions checked.

I took only two trades today. Both entries met my rules, as did my trade management. I was pleased with my exit on the first trade as a small profit is always better than a loss. At the moment that I exited I had more reasons to not be in the trade than to be in it. I felt that my analysis today was not an emotional one and I am grateful for a fortunate result to begin my humble trading career!

2 wins
+.7R

Wishing all of you the best this week. Let's follow our rules and collect some money!
Attached Image (click to enlarge)
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  • #45,313
  • Apr 1, 2019 10:05am Apr 1, 2019 10:05am
Not too proud of my performance today. I got a bit confused with the order flow..

Bad day
Attached Image (click to enlarge)
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  • #45,314
  • Apr 1, 2019 12:55pm Apr 1, 2019 12:55pm
from HL to NSH
Attached Image (click to enlarge)
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  • #45,315
  • Apr 1, 2019 2:04pm Apr 1, 2019 2:04pm
I traded SIM today while traveling
trades +25 points
Attached Image(s) (click to enlarge)
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  • #45,316
  • Apr 1, 2019 2:09pm Apr 1, 2019 2:09pm
Quoting vladutz112
{quote} you went contra-trend here we mostly trade with the trend or do i miss something?
I did a similar trade but considered it "RANGE" trading.
I went short just after a NSH and high of the day with good rotation down.
See last chart.
It was SIM, however.
  • #45,317
  • Apr 1, 2019 10:11pm Apr 1, 2019 10:11pm
Hello, is there somebody who is sucessfully using time chart despite tick chart? I am trying to trade from work, where I can just use online platform without tick chart?
  • #45,318
  • Apr 2, 2019 2:03am Apr 2, 2019 2:03am
Quoting Slovaktrader
Hello, is there somebody who is sucessfully using time chart despite tick chart? I am trying to trade from work, where I can just use online platform without tick chart?
I suggest something different... use Teamviewer or Chrome remote desktop or actually any remote desktop software you like. Usually you have to install the application on both computers and than some minor setting and that's it. With Chrome remote desktop you only install an extension and not an entirely new program which is what you need on your work computer (I guess you're not allowed to install software). Most of these programs are also available as apps for smartphones.

I have used those programs for 6 years when I was working and away from my personal computer.
  • #45,319
  • Apr 2, 2019 5:38am Apr 2, 2019 5:38am
Hey guys. Quick question: I know Damian typically sets his SL to BE when the high or low is being tested. I'm finding that, particularly with shorter orderflow, it seems to give more points to take profit at the high or low instead of move to BE, since the corrections often end up taking out the BE stop.
What are your thoughts on this?
  • #45,320
  • Apr 2, 2019 6:01am Apr 2, 2019 6:01am
Quoting x3m-PippiN
{quote} I suggest something different... use Teamviewer or Chrome remote desktop or actually any remote desktop software you like. Usually you have to install the application on both computers and than some minor setting and that's it. With Chrome remote desktop you only install an extension and not an entirely new program which is what you need on your work computer (I guess you're not allowed to install software). Most of these programs are also available as apps for smartphones. I have used those programs for 6 years when I was working and away...
Thank you for advice. Problem is,that we have in work just few pages allowed. Others are blocked. I tried to use for it my mobile phone, but it is very unconfortable. Maybe it would be ok for bigger timeframe, but for 5 minutes time frame, which I am using is quite bad.
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