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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

  • #46,481
  • Jul 23, 2019 10:00am Jul 23, 2019 10:00am
Hello Traders, Here is the post session review. Looking forward to the live stream tomorrow. I hope to see you all there.


https://youtu.be/eeSRPDOPlj0
If you fail to plan, you plan to fail.
  • #46,482
  • Jul 23, 2019 10:18am Jul 23, 2019 10:18am
YM
Took a long on large ABCD pattern completion at structure.
I came to the screen a bit too late and missed the initial entry candle but price was kind enough to return
Went BE+1 a little before 38.2 pattern because of structure.
At first I wanted to wait until the 61.8 of the pattern was reached but since that might as well take hours OR we might not get there (I saw bulls struggling a bit around the 38.2%) I started trailing from the point where I had 2:1 Risk:Reward.
Was taken out for +23

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  • #46,483
  • Jul 23, 2019 10:50am Jul 23, 2019 10:50am
Quoting PeterT
... At first I wanted to wait until the 61.8 of the pattern was reached but since that might as well take hours OR we might not get there (I saw bulls struggling a bit around the 38.2%) I started trailing from the point where I had 2:1 Risk:Reward. Was taken out for +23 {image}
Of course hindsight is always easy..
but HOLY CRAP I should have stayed in the trade

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  • #46,484
  • Jul 23, 2019 11:08am Jul 23, 2019 11:08am
Quoting brrand
Took one more USDCAD Long. Mr Pip, Is this a trade we should take...or let it pass?? I took it because its kind of SOS2, (FIB+Structure).Good buying in that region. I am apprehensive because the bears are coming down with some force. Appreciate your feedback. {image}
Hit SL. Losing trade.
  • #46,485
  • Jul 23, 2019 11:09am Jul 23, 2019 11:09am
Quoting brrand
First trade for today: Long EURNZD. Not looking good at this point. {image}
Stopped Out. BE
  • #46,487
  • Jul 23, 2019 11:10am Jul 23, 2019 11:10am
That spike was based on fundamental news.
Luck has no place in trading. Leave that for the poker table.
  • #46,488
  • Jul 23, 2019 11:32am Jul 23, 2019 11:32am
Quoting Mr. Pip
15 min left in the session so I won't take another trade. We had another losing session today extending the draw down. I will do the post session review when I get back time to get the tiny at camp. Catch you all later. Don't forget the live stream tomorrow. We are battling draw down, 2 losing days and this is here the emotions would be out of control but instead we will follow our plan! I want to see every one there.
Although it would be great to win big time from the start and double the account in two months,
it would give traders the impression that that is the way it is supposed to go when you're good at trading.
Thank god you are experiencing a drawdown from the start! (you know I mean that in a good way)
The deeper your drawdown, the more precious this example is for all of us.
I don't wish it upon you, but you know what I mean.

We have a unique opportunity to see how a true pro handles this situation.
Thanks for your transparancy, it is so much better than all the filtered trades and fake results that other "teachers" are showing.

When I'm starting a new live account, I expect (and hope) to be able to keep my cool and follow my trade plan.
Something I was not able to do for a long time.
Thanks to your selfless efforts I feel I might succeed in the near future.
  • #46,489
  • Jul 23, 2019 11:45am Jul 23, 2019 11:45am
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Hi Mr Pip.

In this snap, Is point C a new structure high, even if there is no close above point A. I know, you have said that this is just a test of the NSH-A. But what is the trade plan in this case, should we sit on the sidelines or go long at this point for the longer term order flow (NSH A) OR we look for shorts wrt the NSL - D.
  • #46,490
  • Jul 23, 2019 11:53am Jul 23, 2019 11:53am
Good day. Please make comments to the video! Many people do not understand English but can read translated comments.
  • #46,491
  • Jul 23, 2019 12:13pm Jul 23, 2019 12:13pm
Quoting Denniboy
Good day. Please make comments to the video! Many people do not understand English but can read translated comments.
You can turn on subtitles, and in settings you can change the language to Ukrainian or whatever language you speak.


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  • #46,492
  • Edited 1:00pm Jul 23, 2019 12:47pm | Edited 1:00pm
You can turn on subtitles, and in settings you can change the language to Ukrainian or whatever language you speak.

Yes.Thank you. I did it all the time, but in the last video,this function (button) is missing.

Maybe this somehow turns the video creator on or off?
  • #46,493
  • Jul 23, 2019 12:58pm Jul 23, 2019 12:58pm
Quoting PeterT
{quote} Although it would be great to win big time from the start and double the account in two months, it would give traders the impression that that is the way it is supposed to go when you're good at trading. Thank god you are experiencing a drawdown from the start! (you know I mean that in a good way) The deeper your drawdown, the more precious this example is for all of us. I don't wish it upon you, but you know what I mean. We have a unique opportunity to see how a true pro handles this situation. Thanks for your transparancy, it is so much...
You better succeed . As for the draw down I’m glad to because like you said it’s real and it’s honest. I’m enjoying it Belice it or not.
If you fail to plan, you plan to fail.
  • #46,494
  • Jul 23, 2019 12:59pm Jul 23, 2019 12:59pm
Quoting PeterT
{quote} You can turn on subtitles, and in settings you can change the language to Ukrainian or whatever language you speak. {image}
Thank you Peter. I learned something too.
If you fail to plan, you plan to fail.
  • #46,495
  • Jul 23, 2019 1:01pm Jul 23, 2019 1:01pm
Quoting brrand
{image} Hi Mr Pip. In this snap, Is point C a new structure high, even if there is no close above point A. I know, you have said that this is just a test of the NSH-A. But what is the trade plan in this case, should we sit on the sidelines or go long at this point for the longer term order flow (NSH A) OR we look for shorts wrt the NSL - D.
Trade the expectation it will play out more than it won’t
If you fail to plan, you plan to fail.
  • #46,496
  • Jul 23, 2019 1:08pm Jul 23, 2019 1:08pm
Quoting Denniboy
You can turn on subtitles, and in settings you can change the language to Ukrainian or whatever language you speak. Yes.Thank you. I did it all the time, but in the last video,this function (button) is missing. Maybe this somehow turns the video creator on or off?
I think it takes some time for youtube to generate the subtitles.
Probably they will be available tomorrow
  • #46,497
  • Jul 23, 2019 1:15pm Jul 23, 2019 1:15pm
Last trades for the day -23 -1
1) Long following expectation of NSH although price made a very weak NSH. We are at longer term structure so it is not unexpected for sellers to come in and prevent strong NSHs and to cause deep corrections. I expected the buyers would defend and try to take price a little higher but that didn't happen and SL was hit. -23
2) Second trade trading the larger swing long. I realized that there was not enough time for this trade to play out. And also, I felt like I took the trade for revenge so I exited when I got back to my entry point. -1

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  • #46,498
  • Jul 23, 2019 1:37pm Jul 23, 2019 1:37pm
Quoting PeterT
2) Second trade trading the larger swing long. I realized that there was not enough time for this trade to play out. And also, I felt like I took the trade for revenge so I exited when I got back to my entry point. -1 {image}
You need to fix this before going live ! Serious ! Practice it on your real life also outside of trading.

As I see it, you are in the business of paying $1 to make $2 with at least 50% change of winning. Its a great opportunity. All you have to do is never trade $2 for $1, but emotions make ppl do that.

As you saw in your previous trade, you can have lots of losers and one winner bring it profit. Yesterday I had 6 losers and 2 winners, and was profit day.

Also, Mr. PIP shows, but I would like to point out that because we are trading such small timeframe, there is no time to be moping around. One of the things I did previously was question the plan or my skills, get beaten down emotionally and then would miss a great opportunity that would bring me down even more than the loss. Practice losing and Next'ing, or switch to a bigger timeframe. Market is very fast ( I actually think I can't keep up with nasdaq in my case ).

You will see, Mr PIP might even continue his drawdown further. One day he will make a couple of trades that are well planned and executioned and will turn it around completly. And it will business as usuall. But for that he must keep himself alive, so no revenge trade or removing stops like "a lot of retail traders" do.

You can do it ! Just keep trading $1 to make $2 !
  • #46,499
  • Jul 23, 2019 8:58pm Jul 23, 2019 8:58pm
Quoting Mr. Pip
Hello Traders, Here is the post session review. Looking forward to the live stream tomorrow. I hope to see you all there. https://youtu.be/eeSRPDOPlj0
Last couple of videos/recaps rank in with some of your best. Good stuff. Shows exactly what trading can be like at times. Very much appreciate your honesty in sharing your expertise and experiences.
Anything is Possible!Side with the Probable!
  • #46,500
  • Jul 23, 2019 9:57pm Jul 23, 2019 9:57pm
Both of my trades would have played out if I didn't protect. Two BE instead..
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