Ratios & Harmonics: a Different Way to Trade

I am happy with my performance today. Today was a very back and forth day in the market and I managed to extract 57 points today. Usually when I get a winner, I stop trading due to fear of losing those profits, but that hurts expectancy. That is not the way to professional trading. So I forced myself to take the next signal. Hope you all ended green today

Great opportunity. Bat pattern on AUD/USD H1

the worst day I had in a while..

Tested the YM today. Picture at entry and exit. Decided not to play the short term order flow (range) on the larger swing, as I was expecting the NSH to be taken out with the early momentum.

Expectations failing left and right. Sitting on my hands today it seems

i never even took this trade, just took a snapshot of it but never paid much attention, an this happened

AUD/JPY looks good

Today was a better day....

Two trades today on YM, entries and day pics. One which I used a rescue on a rotation candle, then did not hold on long enough, which would have been a nice winner. Second was a good trade reaching 1:1 and 127.

Damian I just want to say thanks to you for your selfless sharing of your trading method here and on youtube. I've been studying structure for over a year now and during the last six months or so, it's finally begun to penetrate my thick skull.

You state in your teachings that proper reading of structure leads to better than 70% wins. Over my last ~300 trades, I'm at 72%.

I watch your nine "lesson" videos over and over and over and over again. Pretty much all I read or watch anymore besides my bible is your content. If you had a podcast, I would probably listen to it while on the road.

Again, hats off to you for giving back while asking for nothing in return.

Basically took off this week, rolled into the office and took 3 trades before today for nothing.
Back at it today...

Just jumped into price today at the first opportunity, didn't' think we would get a pullback, entered a rescue, survived the stop by 2 points.
Price ended up going my way, trailed the first entry normally but decided to use the rescue entry to structurally trail.

Two trades today on YM. One was false start and did not like my entry. Second was a good winner.

Fun when price just runs and your in it.

Indeed. Reminds me of golf. You struggle with 95% of your shots, then you have those ones which are awesome and keeps you coming back. I notice you are on a 144 tick chart. Do you find that one better than the 233?

Thanks. I hope you didn't feel bad, it was a joke lol

I have the 89T, 144T, 233T, 610T, 1597T on different NT tabs and regularly look at all of them during the day.
I like to take trades on price rotations where the rotation size will be relative to the swing size. So if I'm looking at a 80 point swing I'll probably require a 233T rotation. If I'm looking at a 30 point swing I'll probably be on the 89T.

I think you have an excellent question. And there are no stupid questions. Only the ones that you don't ask. ha ha ha.

It seems that you have experience and or curiosity about this method of trading and would like to see if it is worth your time and energy to learn more about it.

If you look at my profile you can go over some notes that I took and see what you can get from them. In my opinion, all trading systems are formulated to give us the greatest odds when we are trying to forecast the movement of price based on our own speculation. However, there are many ways and or tools to help us speculate so that we may have a confident bias. As for myself, I have ditched the indicators and have opted for price action.

Speaking for only myself, price action is not easy to learn. However, with time and patience and of course the right info to guide us there, we can eventually get our goal of knowing how to read it, which equals more wins than loses. Mr. Pip has some videos that will help lay down a basic foundation based on price structure, etc.
After you practice analyzing price structure and your confidence grows, then the next step would be to start practicing more of the mathematics called harmonics to measure some of the market moves. For prerequisite reading, I would suggest that you read the books by Scott Carney on harmonic patterns. And also read the YTC books by Lance Beggs. Read those books, then go over Mr. Pips videos, where you can see how excellent he uses the info from Scott Carny and Lance Beggs to make it his own. When I say make it his own, that means he used the tools that are most useful for his trading personality. There are several ways to approach trading. Some people like to scalp and some people like to hold a position for a long time. That comes down to learn about money management which is about capital risk assessment. I have also posted an excel chart about this and so has Mr. Pip and others on this thread. If your goal is to trade with Price Action and Harmonics, then this is the thread for you. Alright, have a great day and may the odds be in your favor.

Yes. With respect to the thread owner who created this strategy, as there are many forums and many threads on the internet that offer strategies. I'd like to hand-pick some of them that may be working if I spend some time with them, or I make them change and work for me in my way, but I don't have time to waste on reading some low successful strategies while there are better strategies with higher success rate around that can give a better return for my time. I hope my statement makes sense for you? And thank you for your reply.

Tnx

What do you guys think about this Cypher on USD/JPY H1. Entry : 108.66

Just beginning to learn harmonics. I had this deep crab plotted on YM before price reached the PRZ. Extensions lined up very nicely on this one. As I am still a novice, I did not take this trade but only watched it play out.