Attachments: Ratios & Harmonics: a Different Way to Trade

Ratios & Harmonics: a Different Way to Trade

#45,501
May 1, 2019 1:12pm May 1, 2019 1:12pm

JeanValJean.
| Joined Oct 2017 | Status: Sharpen my skills. | 274 Posts

Quoting bmdenton23

Disliked

{quote} I don't think there's anything wrong with your analysis, I considered the same order flow. I tend to see PA in about 3 order flows while watching 233/144/89. Unlike most of the other traders here who stick to one order flow, I tend to cherry pick the order flow that I feel best about. Sometimes that works and sometimes it doesn't. {image}

Ignored

thank you for the answer

Time is an illusion, timing is an art.

#45,502
May 2, 2019 9:15am May 2, 2019 9:15am

spetscom
| Joined Jan 2019 | Status: Trader | 183 Posts

I got annihilated today. Followed the plan and my rules accordingly, expectations were just failing left and right.

#45,503
May 2, 2019 10:15am May 2, 2019 10:15am

pradlal
| Joined Oct 2017 | Status: Trader | 112 Posts

Hello people!

YM trades for today, found the market to be rather harmonic.

I also a see quite a few people struggling and asking about improving the strategy, to which my advice is to keep at it. Any strategy learned from an external source is going to be a pain to adapt as the initial learnings and motivations that lead to the committing belief in that particular system are not your own. And the way your mind takes the inputs on the screen and asks your fingers to click buy or sell is going to be different from the next guy - you are after all a product of your particular cocktail of genes, experiences and environment. So, take the learnings, do 3 months of backtesting and look at the issues you are facing. And work on making the strategy your own. Work on making it suit YOU.

Two books that I would recommend : Come into my trading room and Golf is not a game of perfect

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#45,504
May 2, 2019 10:18am May 2, 2019 10:18am

PeterT
| Joined Nov 2016 | Status: Trader | 1,121 Posts

Hello traders I've been Playback trading for quite some time.
I only have limited time every day so had to cut back online forum time (practice and study comes before forum fun

)
I want to go live again soon but first I want to test if I can make profit over the course of a few weeks.
I started a demo of $5000. Trading 1 contract per trade.
I won't be able to post every day but here are my trades for today. +30 +1 +20.
First trade entered at 38.2 so R:R was not that great.
Second trade I hesitated because I entered early on rotation (before close of candle) and my entry candle got smashed. Then saw bulls struggling and bailed out.
Third trade OK

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#45,505
May 2, 2019 10:31am May 2, 2019 10:31am

Pair-me-up
Joined Nov 2009 | Status: Trader | 2,232 Posts

Yep... another just for fun and practice demo trade until I can open a live futures account.

I was thinking to myself today as I was out taking a nice stroll. I have heard nay sayers say... that demo trader has great trades because it is only demo. However, the thought crossed my mind that even demo accounts use real time prices for practice. Therefore, shouldn't it be possible for traders on live accounts to get the same results, after all, demo or live we are all looking at the same data.

The only difference I see is that live traders finished saving up their starting capital and jumped in along with the confidence to put their money to work with whatever risks that may entail.

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Luck has no place in trading. Leave that for the poker table.

#45,506
May 2, 2019 10:31am May 2, 2019 10:31am

bmdenton23
| Joined Dec 2017 | Status: Trader | 1,054 Posts

Fortunate to get out green today, 4 trades + 1 rescue = +21

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#45,507
May 2, 2019 10:35am May 2, 2019 10:35am

Pair-me-up
Joined Nov 2009 | Status: Trader | 2,232 Posts

Quoting Pair-me-up

Disliked

Yep... another just for fun and practice demo trade until I can open a live futures account. I was thinking to myself today as I was out taking a nice stroll. I have heard nay sayers say... that demo trader has great trades because it is only demo. However, the thought crossed my mind that even demo accounts use real time prices for practice. Therefore, shouldn't it be possible for traders on live accounts to get the same results, after all, demo or live we are all looking at the same data. The only difference I see is that live traders finished...

Ignored

Got close to the one to one and had a little bounce.. rolled my stop forward. Let's see what happens before I have to go to sleep. My target is where I expect the bulls to possible step in for some unfinished business to the upside.

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Luck has no place in trading. Leave that for the poker table.

#45,508
May 2, 2019 10:37am May 2, 2019 10:37am

aaven
Joined Jul 2015 | Status: Trader | 2,299 Posts

Quoting Pair-me-up

Disliked

Yep... another just for fun and practice demo trade until I can open a live futures account. I was thinking to myself today as I was out taking a nice stroll. I have heard nay sayers say... that demo trader has great trades because it is only demo. However, the thought crossed my mind that even demo accounts use real time prices for practice. Therefore, shouldn't it be possible for traders on live accounts to get the same results, after all, demo or live we are all looking at the same data. The only difference I see is that live traders finished...

Ignored

Pair-me-up,

I agree and understand where you are coming from. Not many have money lying aside for burning.

At least for me, commit all the mistakes on demo first and prove oneself that they are successful. Then perhaps, start a small live account and replicate the results bringing the psychology aspect and then only perhaps the main live account...

Thanks

#45,509
May 2, 2019 10:46am May 2, 2019 10:46am

Pair-me-up
Joined Nov 2009 | Status: Trader | 2,232 Posts

Quoting Pair-me-up

Disliked

{quote} Got close to the one to one and had a little bounce.. rolled my stop forward. Let's see what happens before I have to go to sleep. My target is where I expect the bulls to possible step in for some unfinished business to the upside. {image}

Ignored

UPDATE: Close to my long entry area.

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Luck has no place in trading. Leave that for the poker table.

#45,510
May 2, 2019 10:47am May 2, 2019 10:47am

Pair-me-up
Joined Nov 2009 | Status: Trader | 2,232 Posts

Quoting aaven

Disliked

{quote} Pair-me-up, I agree and understand where you are coming from. Not many have money lying aside for burning. At least for me, commit all the mistakes on demo first and prove oneself that they are successful. Then perhaps, start a small live account and replicate the results bringing the psychology aspect and then only perhaps the main live account... Thanks

Ignored

Great minds think alike.

Luck has no place in trading. Leave that for the poker table.

#45,511
May 2, 2019 10:51am May 2, 2019 10:51am

Pair-me-up
Joined Nov 2009 | Status: Trader | 2,232 Posts

Quoting Pair-me-up

Disliked

{quote} UPDATE: Close to my long entry area. {image}

Ignored

Target achieved, now long at my long entry point.

If I entered too early.. well.. it's all good.

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Luck has no place in trading. Leave that for the poker table.

#45,512
May 2, 2019 11:44am May 2, 2019 11:44am

Pair-me-up
Joined Nov 2009 | Status: Trader | 2,232 Posts

Quoting Pair-me-up

Disliked

{quote} Target achieved, now long at my long entry point. If I entered too early.. well.. it's all good. {image}

Ignored

O.k. I am at break even and going to sleep. It is interesting how the bulls are trying to defend my demo trade. ha ha ha. I hope other people had fun seeing my play by play demonstration account in action.

One thing that I am trying to work on is making my take profit area, an area that I would like to enter the market in the opposite direction that my trade was headed in.

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Luck has no place in trading. Leave that for the poker table.

#45,513
May 2, 2019 11:55am May 2, 2019 11:55am

PeterT
| Joined Nov 2016 | Status: Trader | 1,121 Posts

Another trade YM
3 drives pattern ending in confluence zone with structure and fib levels (left everything on chart)
Bulls weakening nicely when approaching the zone.
Entered on good reaction candle (not a rotation candle according to Mr. pip definition)
Had nice follow through. BE at 38.2% of the pattern, trailing decision candles from 61.8%.
Taken out for +34

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#45,514
May 2, 2019 12:05pm May 2, 2019 12:05pm

mtzimmer1
| Joined Jan 2019 | Status: Trader | 107 Posts

So many great opportunities today and I was unable to capitalize on any of them. Overall feel okay about my trading today. I accept that I am fully responsible for my results but I still feel that today was just slightly unlucky.

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#45,515
May 3, 2019 2:34am May 3, 2019 2:34am

x3m-PippiN
| Joined Sep 2016 | Status: Trader | 585 Posts

Quoting Pair-me-up

Disliked

Yep... another just for fun and practice demo trade until I can open a live futures account. I was thinking to myself today as I was out taking a nice stroll. I have heard nay sayers say... that demo trader has great trades because it is only demo. However, the thought crossed my mind that even demo accounts use real time prices for practice. Therefore, shouldn't it be possible for traders on live accounts to get the same results, after all, demo or live we are all looking at the same data. The only difference I see is that live traders finished...

Ignored

A day will come when the shit will hit the fan and you'll have a drawdown. It may be soon, it may be far into the future, it may be small, it may be devastating..but it will happen. That's when you'll realize the difference between demo and real.

I've always been a successful trader on a demo...from the day I started. But when real money goes on the line it's a different ballgame. Especially in cases like you..where you have been saving up for this moment to go live for a long time and you have expectations of success. Unless you have some insane discipline and I do mean INSANE discipline it'll most likely take you some time to iron out your psychological struggles before you start making money.

I hope you have luck and you perform well from the beginning and gain some momentum before the unavoidable drawdowns in your career happen. Also be aware of the psychological cycle of most beginner traders - making profits > confidence goes up > making more profits > "oh, I figured this shit out Imma be a millionaire" > overconfidence> blows out account or a big chunk of it..... most of us have been through this.
So be careful, most of all mindful and good luck!

#45,516
May 3, 2019 9:31am May 3, 2019 9:31am

Pair-me-up
Joined Nov 2009 | Status: Trader | 2,232 Posts

Quoting x3m-PippiN

Disliked

{quote} A day will come when the shit will hit the fan and you'll have a drawdown. It may be soon, it may be far into the future, it may be small, it may be devastating..but it will happen. That's when you'll realize the difference between demo and real. I've always been a successful trader on a demo...from the day I started. But when real money goes on the line it's a different ballgame. Especially in cases like you..where you have been saving up for this moment to go live for a long time and you have expectations of success. Unless you have some...

Ignored

Thanks for the well wishes. I traded forex live for many years. I have blown real accounts. I know the pain of loss. I don't believe in get quick rich. Every year my skills improve. I posted an excel spread sheet that you can look at that focuses on money management. Draw down is part of this business. I have had some very hard lessons and some very big loses on my journey. But winners never quit. I don't fear pulling the trigger. And from my past experience, I have learned that greed is stronger than fear. So, I already went through the shit hitting the fan phase. If I can make even $400 USD in one month on Futures, I think that will be great. So, I use to focus on how much I will win. But through time, I realized that is a bad approach for me. I now focus on how much I will lose. And I have a fairly good idea where price will go if I am wrong, so I now focus on if/when.

And you are spot on about psychological issues that everyone has within themselves. That is why I believe the holy grail of trading per se is within each and everyone of us. For me trading is about discovering a skill set that has a relatively good success rate on this speculative market.

Anyhow.. thanks for the words of encouragement. I imagine that when I do go live again, this time on the futures market I will have some draw down.

May the odds be in your favor and may you trade as well as you did when you demo traded. I don't really know what your style of trading is, but I am sure it is a good one.

Luck has no place in trading. Leave that for the poker table.

#45,517
May 3, 2019 10:04am May 3, 2019 10:04am

spetscom
| Joined Jan 2019 | Status: Trader | 183 Posts

Today was awful. 2 Expectation failures and 1 sloppy trade. -95 for today on the YM. In an awful DD.

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#45,518
May 3, 2019 11:11am May 3, 2019 11:11am

bmdenton23
| Joined Dec 2017 | Status: Trader | 1,054 Posts

Well that's it for me, after such a phenomenal week last week I was hoping for continuation but alas it was not to be.
Today was just a mess, I ended up green but just wasn't feeling confident about anything.

Week
Swing (YM) -21
SR (all instruments) +80
FX +6R

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