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"Ratios & Harmonics: a Different Way to Trade." Summary 36 replies

Attachments: Ratios & Harmonics: a Different Way to Trade
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Ratios & Harmonics: a Different Way to Trade

Hello Traders,

Finally got out of that very, very, very long second trade. Ended the day -$80. There will be no post session review today as it was a live stream day.

Here is the chart. I trailed aggressively because of the time and I was tired of sitting here.
Attached Image (click to enlarge)
Click to Enlarge Name: YM 09-19 (144 Tick) 2019_07_24 (3_50_51 PM).png Size: 86 KB
If you fail to plan, you plan to fail.
YM last trades for the day -9 -10 +1

Looking for short in good confluence areas but the sellers didn't feel like it.
Re-entered the second time because my plan B-area was reached.
Re-entered the third time because there was a good reaction from the sellers and a big rotation candle.
Went to BE and was taken out.
I did not re-enter this time because it looked like the sellers were being absorbed by the buyers.
Unfortunately it was exactly then that the sellers made the move I was waiting for.
Reading the chart with accuracy, it is a work in progress

But OK
I did not break rules, did not make a mistake. I'm happy.
You have to risk to get reward right
Next time I'll be on the train

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So, 37 pt loss in 4 min followed by 40 pt gain in 6hrs and 7 min. I fought the demons of just closing or moving to BE early. The only reason I'm not still in trade was margin requirement at close.

That was patience boot camp for me.
Really enjoyed the live stream today, love how calm and patient you are in a trade even when in drawdown on the account and it's going against you. I'm learning a lot about the mindset of a pro trader. Thanks Damian
Quoting Mr. Pip
Hello Traders, Finally got out of that very, very, very long second trade. Ended the day -$80. There will be no post session review today as it was a live stream day. Here is the chart. I trailed aggressively because of the time and I was tired of sitting here. {image}
Mr. Pip sorry I did not ask this during today’s session, do you not take a trade if you get a rotation candle on more then 1 candles in the area of interest.
Quoting standrdtrde
{quote} Mr. Pip sorry I did not ask this during today’s session, do you not take a trade if you get a rotation candle on more then 1 candles in the area of interest.
I prefer the rotation to be prompt it shows possible commitment.

If im being honest here I would have to tell you that is the only area where I am inconsistent. The AOI is an intimate area where I like to see price behave a certain way. I think I small another video to make.
If you fail to plan, you plan to fail.
Quoting Mr. Pip
{quote} I prefer the rotation to be prompt it shows possible commitment. If im being honest here I would have to tell you that is the only area where I am inconsistent. The AOI is an intimate area where I like to see price behave a certain way. I think I small another video to make.
Hell yah thanks for the honest answer Mr. Pip. I was chart reading earlier and just kept wondering if I see absorption but the rotation happens on 2-3 candles it still shows weakness/strength just not as prompt
Thanks Damian for your teachings, you have really changed the way I approach the markets. I enjoyed the live stream and I look forward to the video on harmonic patterns. Don't mean to sound like a broken record but please don't forget to search through your hard drive for the money management spreadsheet for forex. For now i'm trading forex pairs and your money management spreadsheet will go a long way...I will participate more on the thread as from august, posting my Long term trades and short term trades on forex pairs.
Quoting BlacMoni
Thanks Damian for your teachings, you have really changed the way I approach the markets. I enjoyed the live stream and I look forward to the video on harmonic patterns. Don't mean to sound like a broken record but please don't forget to search through your hard drive for the money management spreadsheet for forex. For now i'm trading forex pairs and your money management spreadsheet will go a long way...I will participate more on the thread as from august, posting my Long term trades and short term trades on forex pairs.
Forex spreadsheet and Money management spreadsheet.
Attached Files
File Type: xls Forex spreadsheet.xls   83 KB | 152 downloads
File Type: xls DCASTFX_money_management_spreadsheet.xls   347 KB | 202 downloads
Time is an illusion, timing is an art.
2 trades -42+46
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Time is an illusion, timing is an art.
Quoting JeanValJean.
{quote} Forex spreadsheet and Money management spreadsheet. {file} {file}
Thanks a bunch...though i'm a bit confused on how this very spreadsheet determines the right lotsize to be traded with fx pairs
Quoting BlacMoni
{quote} Thanks a bunch...though i'm a bit confused on how this very spreadsheet determines the right lotsize to be traded with fx pairs
This video can help you
https://www.youtube.com/watch?v=Q8WSJBnfUb0
Time is an illusion, timing is an art.
Quoting JeanValJean.
2 trades -42+46 {image} {image}
That is a pretty neat EA
Quoting Mr. Pip
{quote} I prefer the rotation to be prompt it shows possible commitment. If im being honest here I would have to tell you that is the only area where I am inconsistent. The AOI is an intimate area where I like to see price behave a certain way. I think I small another video to make.
I respect your transparency about rotation candles. Honestly, no matter how many times, I saw you talk about it in some of your content, I just couldn't grasp it. For the last 8 months, I have been working on some price action theories to help time my entries.

I now see rotation candles as price action lagging indicators. In all respect I could be wrong, but so far I am getting good results. Maybe we are seeing the same thing, but wording it differently.

You have me on skype any time you want to ask me about it, as you said that you are open to learning more things, which shows the characteristics of a truly good person in my view.

On youtube I am Koibito. Sometimes, I ask questions not just for myself, but questions that need to be asked that others may be too shy to ask. After all, I am a school teacher and my life is about studying and teaching. Unfortunately, I don't know how to change my name of Forex Factory, but it is alright.
Damian you are a great man for wanting to lift others up. I am not anyone special,(except to my little family) but I am truly impressed with you. And no, I am not butt kissing as you mentioned on your life stream that you don't want people to do that. ha ha ha.. That is just not my style. Just keeping it real.

Alright, I have ranted enough, young bro.
Luck has no place in trading. Leave that for the poker table.
Hello Traders,

Here is a bonus Lesson on Ratio Extensions and Harmonic projections. We will continue to see this more and more in the post session reviews and in the live streams.

https://youtu.be/mZEV7tzwBhs
If you fail to plan, you plan to fail.
Quoting Pair-me-up
{quote} I respect your transparency about rotation candles. Honestly, no matter how many times, I saw you talk about it in some of your content, I just couldn't grasp it. For the last 8 months, I have been working on some price action theories to help time my entries. I now see rotation candles as price action lagging indicators. In all respect I could be wrong, but so far I am getting good results. Maybe we are seeing the same thing, but wording it differently. You have me on skype any time you want to ask me about it, as you said that you are...
If you see them as price action lagging do you not wait for them? Curious to hear more please share with the group
Quoting Pair-me-up
{quote} I respect your transparency about rotation candles. Honestly, no matter how many times, I saw you talk about it in some of your content, I just couldn't grasp it. For the last 8 months, I have been working on some price action theories to help time my entries. I now see rotation candles as price action lagging indicators. In all respect I could be wrong, but so far I am getting good results. Maybe we are seeing the same thing, but wording it differently. You have me on skype any time you want to ask me about it, as you said that you are...
Thank you my friend I will take you up on the offer and thank you for the compliments!
If you fail to plan, you plan to fail.
I am new here but I've been following your trading plan for a while now Damian and you have my utmost respect!


Quoting standrdtrde
{quote} If you see them as price action lagging do you not wait for them? Curious to hear more please share with the group
Regarding your question for lag on rotation candles, lag all depends on the time frame. I use 233 tick for the best rotation candles and that has given me better results rather than what Damian uses on 144 tick. Following his live stream I have noticed where the candle was still in continuation on the 233, Damian saw it as a rotation on the 144 tick and took entry and ended up with draw down. Another interesting thing I've noticed is after a decent rotation comes it's been beneficial for me to wait for a few more candles because for some reason the price action retraces back to the rotation candle and then generates a stronger rotation for the move ahead.
I mean my plan calls for waiting for rotation candle but sometimes when I see absorption and the rotation on multiple candles it’s kind of like I saw weakness or strength in the area I wanted and a rotation that happend after multiple candles so I take the trade. It becomes more selective and picky trying to assume that a trade won’t play out to expectation if everything else is in line in the AOI except a rotation on a 1 candle vs multiple
Hi Guys.

I'm trying to install Ninja 8 platforme. But getting an Error.

Error, Ninja can not create ninja directory at c:\ program file x86.

What is that , could it be not enough memory space.

Appreciate your helps guys.
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