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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

  • #46,741
  • Jul 30, 2019 5:31pm Jul 30, 2019 5:31pm
Tracking this bearish butterfly pattern. Looks pretty good, except the 78.6% retracement of XA was just a couple points short from touching, but darn close. 27300 looks like a good area.

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Good work is the key to good fortune
  • #46,742
  • Jul 30, 2019 9:35pm Jul 30, 2019 9:35pm
My thoughts and analysis for the day. Happy to see I'm slowly able to follow Mr. Pip's process to an extent..still work in progress.
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  • #46,743
  • Jul 31, 2019 6:43am Jul 31, 2019 6:43am
Keeping my eye out on this setup, not the best setup though, but it is what it is!
On a different note, almost done with my backtesting, will show my results on a later date.
Don't forget the news today traders!

Have a good one!
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"Luck is when opportunity meets preparation"
  • #46,744
  • Jul 31, 2019 7:54am Jul 31, 2019 7:54am
GM Traders, Here is the link to the live stream.

https://www.youtube.com/c/MrPip/live
If you fail to plan, you plan to fail.
  • #46,745
  • Jul 31, 2019 10:18am Jul 31, 2019 10:18am
3 trades today: -6, +20, +1 = 15pts
I am glad I was able to extract some profit from the zones today.
First trade I put my stop in the wrong place, I was too zoomed in on the chart. So I re-entered.
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  • #46,746
  • Jul 31, 2019 10:53am Jul 31, 2019 10:53am
Short opportunity for EUR/USD H4
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  • #46,747
  • Jul 31, 2019 10:53am Jul 31, 2019 10:53am
1. 1 Trade today for +44 points. SOS 2 with fib and footprint to the left.
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  • #46,748
  • Jul 31, 2019 11:54am Jul 31, 2019 11:54am
What leads to a calm and confident state of mind:

• Having a strategy.
• Having a plan to implement that strategy.
• Following that plan.
• Trading the right size ―not too big, not too small.
• Understanding that losing periods never last.
• Seeing the bigger picture.
70% expectancy rate with proper SL placement.
  • #46,749
  • Jul 31, 2019 1:05pm Jul 31, 2019 1:05pm
Hello Traders, Here is the link to the live stream.

https://youtu.be/qEOE71Dkwgo
If you fail to plan, you plan to fail.
  • #46,750
  • Jul 31, 2019 1:07pm Jul 31, 2019 1:07pm
Quoting Mr. Pip
Hello Traders, Here is the link to the live stream. https://youtu.be/qEOE71Dkwgo
Good to have you back!
"Luck is when opportunity meets preparation"
  • #46,751
  • Jul 31, 2019 3:14pm Jul 31, 2019 3:14pm
What just happened in YM today ? 450 point drop followed up with 250 point retraction :O
  • #46,752
  • Jul 31, 2019 3:17pm Jul 31, 2019 3:17pm
Quoting Sheeep44
{quote} Good to have you back!
Good to be back
If you fail to plan, you plan to fail.
  • #46,753
  • Jul 31, 2019 3:17pm Jul 31, 2019 3:17pm
Quoting Luni
What just happened in YM today ? 450 point drop followed up with 250 point retraction :O
FOMC Release
If you fail to plan, you plan to fail.
  • #46,754
  • Jul 31, 2019 6:30pm Jul 31, 2019 6:30pm
Quoting Sheeep44
{quote} Good to have you back!
Good to have you back
Wow! I've got some experience to gain.
  • #46,755
  • Jul 31, 2019 8:22pm Jul 31, 2019 8:22pm
In the market, what is going to happen will happen, whether you want it or not. Your job is never to let your emotions overpower you and make you react blindly. Let the masses do this. Keep calm and focus on your plan. This game is all about strategic maneuvering.
70% expectancy rate with proper SL placement.
  • #46,756
  • Jul 31, 2019 9:25pm Jul 31, 2019 9:25pm
loosing day today...because of FOMC
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this was a losing trade. Hit the SL.

Entered now in GU S.
Hopefully it will go down like the previous wave. hoping it was not the exhaustion move...
not much str to the left....I can see the tail but that's about it.
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  • #46,757
  • Aug 1, 2019 4:40am Aug 1, 2019 4:40am
Quoting brrand
loosing day today...because of FOMC{image} this was a losing trade. Hit the SL. Entered now in GU S. Hopefully it will go down like the previous wave. hoping it was not the exhaustion move... not much str to the left....I can see the tail but that's about it. {image}

This is a very bad way to view things my friend. Not just in trading but in general. Everything just happens and the way you react to those events is one of the most important things in life. Take responsibility for your own doings... you didn't lose because of FOMC or because I ate oats yesterday or whatever. You lost because YOU entered a trade and the probabilities aligned that way. The FOMC news were scheduled at the very least a week before. You could've stayed away from the market if you wanted to...if you did that how would the FOMC make you lose than ?
I'm far away from being perfect but this little "habits of thinking" bug me because they are not just related to trading, they are part of life and it saddens me to see people lie to themselves.

I will use a quote from a member of this forum: "I tell it like it is." - Rocky
  • #46,758
  • Aug 1, 2019 6:20am Aug 1, 2019 6:20am
DAX trades from today...

Trade 1) Got in on 61.8% level - scaled out 3 times (last one a few points before 1:1 projection -blue dotted line-)
Trade 2) A quick scalp trade at channel top with target back to channel bottom. When there was no buying power at channel bottom I let the trade run and got out at yesterdays high level
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  • #46,759
  • Aug 1, 2019 6:24am Aug 1, 2019 6:24am
Quoting x3m-PippiN
{quote} This is a very bad way to view things my friend. Not just in trading but in general. Everything just happens and the way you react to those events is one of the most important things in life. Take responsibility for your own doings... you didn't lose because of FOMC or because I ate oats yesterday or whatever. You lost because YOU entered a trade and the probabilities aligned that way. The FOMC news were scheduled at the very least a week before. You could've stayed away from the market if you wanted to...if you did that how would the FOMC...
X3M thanks for your comments. I thought the probabilities were shifted because of FOMC. I was wrong in a lot of reasoning yesterday. learnt from it.moving forward.
  • #46,760
  • Edited 6:36am Aug 1, 2019 6:25am | Edited 6:36am
Quoting brrand
loosing day today...because of FOMC{image} this was a losing trade. Hit the SL. Entered now in GU S. Hopefully it will go down like the previous wave. hoping it was not the exhaustion move... not much str to the left....I can see the tail but that's about it. {image}
Out BE+Change

Started NJ S.
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EG L
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