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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

  • #45,921
  • Jul 12, 2019 10:18am Jul 12, 2019 10:18am
Things are getting better got the buyers.
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If you fail to plan, you plan to fail.
  • #45,922
  • Jul 12, 2019 10:21am Jul 12, 2019 10:21am
Quoting Mr. Pip
Things are getting better got the buyers. {image}
It is nice to see you displaying the harmonic patterns. This is an area that I need to strengthen and gain more confidence in.
Luck has no place in trading. Leave that for the poker table.
  • #45,923
  • Jul 12, 2019 10:25am Jul 12, 2019 10:25am
Quoting Pair-me-up
{quote} It is nice to see you displaying the harmonic patterns. This is an area that I need to strengthen and gain more confidence in.
You will be exposed to it all. I just can't keep it slow anymore. Those that want to grow will run with me. Time to get out of the mud and get to the top.
If you fail to plan, you plan to fail.
  • #45,924
  • Jul 12, 2019 10:29am Jul 12, 2019 10:29am
Quoting Mr. Pip
{quote} You will be exposed to it all. I just can't keep it slow anymore. Those that want to grow will run with me. Time to get out of the mud and get to the top.
Had you added to your trade at the BAT completion would you have been in rescue mode or perhaps looking to profit on the average at typical BAT targets (.618 of bat CD leg) ?
  • #45,925
  • Jul 12, 2019 10:33am Jul 12, 2019 10:33am
BE +2
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If you fail to plan, you plan to fail.
  • #45,926
  • Jul 12, 2019 10:37am Jul 12, 2019 10:37am
Quoting bmdenton23
{quote} Had you added to your trade at the BAT completion would you have been in rescue mode or perhaps looking to profit on the average at typical BAT targets (.618 of bat CD leg) ?
I would have secured a BE to protect capital and on to the goal of the trade and the expectation.
If you fail to plan, you plan to fail.
  • #45,927
  • Jul 12, 2019 10:40am Jul 12, 2019 10:40am
MYM
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  • #45,928
  • Jul 12, 2019 10:44am Jul 12, 2019 10:44am
Quoting Mr. Pip
Hello Traders, Hope you guys are happy with the content that has come out so far and are getting invigorated about that climb to the top. A couple of points I want to mention. 1. In the live stream I mentioned about opening an account with 5K and building it through the live streams and daily with the MM and all the limitations small accounts face. There was a very positive response to that but I wanted to get the thread's opinion. Does that have tremendous value? Do you wand to see this as a real account with real trading? 2. The live streams are...
hello Damian, both will be great especially the first one.
  • #45,929
  • Jul 12, 2019 10:48am Jul 12, 2019 10:48am
I'm out break even. I really liked this week. Thank you, good weekend.
Time is an illusion, timing is an art.
  • #45,930
  • Jul 12, 2019 10:50am Jul 12, 2019 10:50am
Ok Traders, Tough session today ended up with 2 BE +5 points so not bad. Stay tunes for the post session video. I will make and post it later. I have to head out now.
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If you fail to plan, you plan to fail.
  • #45,931
  • Jul 12, 2019 10:54am Jul 12, 2019 10:54am
Quoting Ebenol
MYM {image}
out BE +2
  • #45,932
  • Jul 12, 2019 11:35am Jul 12, 2019 11:35am
Gbpusd Lock +2
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  • #45,933
  • Jul 12, 2019 11:48am Jul 12, 2019 11:48am
Out +17
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  • #45,934
  • Jul 12, 2019 1:19pm Jul 12, 2019 1:19pm
Stopped out by 2 points. It was almost a BE day....
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  • #45,935
  • Jul 12, 2019 2:22pm Jul 12, 2019 2:22pm
Quoting Mr. Pip
{quote} Revisit your trades. See how they fit your trade plan and if the do, if they do then next. If they don't where did you do wrong and why?
Thank you Damian for the wise words. I have had two losing days in a row, and I tend to forget that it doesn't really matter, as long as I am following the rules and the plan. Believe it or not, just those few words you typed completely changed my perspective on the day. Going over my trades now. Thanks.
  • #45,936
  • Jul 12, 2019 2:42pm Jul 12, 2019 2:42pm
Quoting Mr. Pip
Hello Traders, Hope you guys are happy with the content that has come out so far and are getting invigorated about that climb to the top. A couple of points I want to mention. 1. In the live stream I mentioned about opening an account with 5K and building it through the live streams and daily with the MM and all the limitations small accounts face. There was a very positive response to that but I wanted to get the thread's opinion. Does that have tremendous value? Do you wand to see this as a real account with real trading? 2. The live streams are...
1. Yes Damian, opening the 5K account and showing us that would be immensely valuable. Your trade discipline is most likely the same in all capital situations but trading on the 5k account live vs your real account would show real value for us low capital traders that watch your material.

2. Yes Damian you should definitely expose us to more of the intermediate to advanced knowledge so we can grow further. I never new what harmonics were a few months ago but after watching your videos I always look for Gartleys, Bats, ABCD, AB=CD. Those set ups give me confidence in entering and no hesitation if I take a loss.
  • #45,937
  • Jul 12, 2019 3:50pm Jul 12, 2019 3:50pm
Hello Traders,

Here is the post session review for the day's two trades. I hope all are enjoying this new flow!!!

https://youtu.be/UvuIxTZIPyM
If you fail to plan, you plan to fail.
  • #45,938
  • Jul 12, 2019 4:31pm Jul 12, 2019 4:31pm
Quoting spetscom
{quote} Thank you Damian for the wise words. I have had two losing days in a row, and I tend to forget that it doesn't really matter, as long as I am following the rules and the plan. Believe it or not, just those few words you typed completely changed my perspective on the day. Going over my trades now. Thanks.
Thank you but it's the only way to get the emotion back in check.
If you fail to plan, you plan to fail.
  • #45,939
  • Jul 12, 2019 4:33pm Jul 12, 2019 4:33pm
Quoting standrdtrde
{quote} 1. Yes Damian, opening the 5K account and showing us that would be immensely valuable. Your trade discipline is most likely the same in all capital situations but trading on the 5k account live vs your real account would show real value for us low capital traders that watch your material. 2. Yes Damian you should definitely expose us to more of the intermediate to advanced knowledge so we can grow further. I never new what harmonics were a few months ago but after watching your videos I always look for Gartleys, Bats, ABCD, AB=CD. Those...
I will and thank you!
If you fail to plan, you plan to fail.
  • #45,940
  • Jul 12, 2019 5:06pm Jul 12, 2019 5:06pm
Quoting Mr. Pip
{quote} I will and thank you!

So I decided to trade the 5 minute order flow as opposed to the 30 minute order flow and a question I have is regarding trailing.

1. How aggressively do you start trailing your winners if you are within a 1-3 point range of harmonic or ratio exhaustion? I've noticed that price sometimes gets exhausted within a small margin of harmonic or ratio exhaustion and watching a winner turn into a breakeven is difficult. I also don't want to strangle the trade.

2. I know that harmonic and ratio exhaustions are relative to time scale so a 1-3 point range is peanuts for somebody trading the longer time frames/tick intervals but for somebody like me who has an avg stop of 10-20 points and profit target of 20-40 points, it's significant. Just hate seeing a winner turn into breakeven if it is so close to profit targets.
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