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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

  • #47,301
  • Aug 16, 2019 10:42am Aug 16, 2019 10:42am
Could not get past the 38.2 of AD, taken out with +50
Good work is the key to good fortune
  • #47,302
  • Aug 16, 2019 10:57am Aug 16, 2019 10:57am
Practicing my limit orders with my automatic stop loss and take profit set on entry. In someways this helps me to keep it robotic.
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Luck has no place in trading. Leave that for the poker table.
  • #47,303
  • Aug 16, 2019 11:05am Aug 16, 2019 11:05am
1. 1 Trade today. -25 points. Price couldn't get to my area of interest so I couldn't take the second entry for bull.
The Dow and S&P both had that ABCD completion that some of you fellas took short on that D completion. It would be sweet to take the D down and the C up and play the structure.
I knew the markets had some level of correlation but I guess I saw it in price visually with that spike on the Dow and S&P and ABCD.
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  • #47,304
  • Aug 16, 2019 11:11am Aug 16, 2019 11:11am
The price action is staggering around, as it's waiting for everyone to call it a day.

My total trade = +37 on live acc.
Demo= 71.

I'm not a fast learner, as I used to be a lot younger.
But thanks, to Mr Pip. doing ok, 4th week, trading this Methodology.
  • #47,305
  • Aug 16, 2019 11:15am Aug 16, 2019 11:15am
Quoting Pair-me-up
Practicing my limit orders with my automatic stop loss and take profit set on entry. In someways this helps me to keep it robotic. {image}
I am canceling this order and going to sleep. Goodnight all. Have a nice weekend.
Luck has no place in trading. Leave that for the poker table.
  • #47,306
  • Aug 16, 2019 12:17pm Aug 16, 2019 12:17pm
Today -35, I am too indicipliné, I try to avoid losses... +86 for the week. 86pip x 1.5$ = 128.93$ +4.1% . Good weekend.
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Time is an illusion, timing is an art.
  • #47,307
  • Aug 16, 2019 1:45pm Aug 16, 2019 1:45pm
+73 for the week had no entry today
  • #47,308
  • Aug 16, 2019 3:24pm Aug 16, 2019 3:24pm
No trades on YM today and yesterday.
  • #47,309
  • Aug 16, 2019 5:16pm Aug 16, 2019 5:16pm
Quoting Rush2112
Short 25901. ABCD, ratio exhaustion and 900 begins some resistance on longer term. Stop above 161.8. We will how this one works out. {image}
Hey Rush, the ABCD that you traded is not a true ABCD pattern. Point "C" never engaged the 61.8%. This needs to happen to validate the pattern and also increase the probability of the pattern playing out.
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Damn The Torpedoes, Full Speed Ahead!
  • #47,310
  • Aug 16, 2019 5:31pm Aug 16, 2019 5:31pm
Quoting DizzleFX
{quote} Hey Rush, the ABCD that you traded is not a true ABCD pattern. Point "C" never engaged the 61.8%. This needs to happen to validate the pattern and also increase the probability of the pattern playing out. {image}
Interesting.

Rush May have meant AB=CD but typed it as ABCD.
  • #47,311
  • Aug 16, 2019 5:39pm Aug 16, 2019 5:39pm
Quoting standrdtrde
{quote} Interesting. Rush May have meant AB=CD but typed it as ABCD.
Very well may have. I just want to make sure he's knows what he is trading.
Damn The Torpedoes, Full Speed Ahead!
  • #47,312
  • Aug 16, 2019 6:46pm Aug 16, 2019 6:46pm
Quoting Mr. Pip
Hello Traders, Q&A vídeo I promised https://youtu.be/DtrZl9wAYYM
Great videos Damian
I have a question on this one.
Another way to read this PA would be:

"Price is consolidating in an area where we expect buying.
But the buyers are not achieving a lot, their buys are being "absorbed" by the sellers.
The sellers are strong and are not allowing the buyers to get price higher."
Is this also a possible way of reading what's going on?

And about the strong push upwards:
sometimes you say in these situations something like:
"the sellers already did the damage, now they stop selling and let the buyers take price higher to get a better price."
Is this also a possible way of reading what's going on?

Or what's wrong with this kind of thinking?
Thanks for your input
grtz Peter
  • #47,313
  • Aug 16, 2019 7:55pm Aug 16, 2019 7:55pm
Quoting PeterT
{quote} Great videos Damian I have a question on this one. Another way to read this PA would be: "Price is consolidating in an area where we expect buying. But the buyers are not achieving a lot, their buys are being "absorbed" by the sellers. The sellers are strong and are not allowing the buyers to get price higher." Is this also a possible way of reading what's going on? And about the strong push upwards: sometimes you say in these situations something like: "the sellers already did the damage, now they stop selling...
There is nothing wrong with the thinking. But it cannot filter out trades in your trade plan. Your job is to take the trade not filter it out.
If you fail to plan, you plan to fail.
  • #47,314
  • Aug 16, 2019 7:55pm Aug 16, 2019 7:55pm
Post session review

https://youtu.be/rpGMniKvuxs
If you fail to plan, you plan to fail.
  • #47,315
  • Aug 16, 2019 11:22pm Aug 16, 2019 11:22pm
Quoting Mr. Pip
Post session review https://youtu.be/rpGMniKvuxs
Yo Mr.Pip you releasing some hot new content this weekend? Looking forward to some dope lessons
  • #47,316
  • Aug 17, 2019 12:28am Aug 17, 2019 12:28am
Quoting Mr. Pip
{quote} There is nothing wrong with the thinking. But it cannot filter out trades in your trade plan. Your job is to take the trade not filter it out.
Damian, so I assume you mean that the process of absorption analysis, breakdown in strength and weakness,etc... is just for knowing what is the optical lying ahead of our trades, and for situation awareness like knowing when to management trades aggressively, when to reducing position size, stuff like that but isn't the reason to not take the trades in our trade plan, right?
  • #47,317
  • Aug 17, 2019 4:04am Aug 17, 2019 4:04am
Quoting Mr. Pip
{quote} There is nothing wrong with the thinking. But it cannot filter out trades in your trade plan. Your job is to take the trade not filter it out.
I understand that point.
I like analyzing strength/weakness to stay focused on the price action.

But sometimes I wonder if it's actually useful.
In many (or all) cases we can interpret the PA in two opposite ways, and they can both be right.
Examples:
Small candles means more balanced buying/selling, but we don't KNOW who is actually stronger at that moment
Big candle COULD mean strength and complete overpowering, but it COULD also be an "empty" candle, meaning the OTHER side has the strength and is "allowing the candle" to get better prices.
Bearish corrections on the way up COULD mean bears are coming in, bears are selling into the move, and price will go down, but it COULD also mean that some big player is trying to LURE you into selling, meanwhile taking your money by buying.
....

Trade what you see -
I often wonder if what I am seeing, is that really what is happening, or is that what "they" (big players) WANT me to see, what "they" want me to act on.
We can make educated guesses about what is going to happen, taking into account the data on the chart, and using situational awareness, but then again, what actually happens next could also be the opposite of what our analysis was saying.
So I sometimes wonder if it is actually useful to try and read PA, or is it only useful for keeping us busy during trading.
You mentioned a few times that you may as well enter on limit orders if you just keep following the expectation.

Just throwing my thoughts out here.
Maybe I am losing it.
Could be some kind of midlife crisis in my trading career
  • #47,318
  • Aug 17, 2019 4:54am Aug 17, 2019 4:54am
Quoting PeterT
{quote} I understand that point. I like analyzing strength/weakness to stay focused on the price action. But sometimes I wonder if it's actually useful. In many (or all) cases we can interpret the PA in two opposite ways, and they can both be right. Examples: Small candles means more balanced buying/selling, but we don't KNOW who is actually stronger at that moment Big candle COULD mean strength and complete overpowering, but it COULD also be an "empty" candle, meaning the OTHER side has the strength and is "allowing...
You are definitely not losing it. I've had the same thoughts as you and I've seen many times price achieve a NSx on weakness or there's (what seems to be) a lot of strength and the expectation fails. But most important IMO is to trade inline with the expectation and use every other skill to determine what is the most likely place for price to correct to and than extend to when going for a NSx.
  • #47,319
  • Aug 17, 2019 5:26am Aug 17, 2019 5:26am
Your trade size should not be too big nor too small.
Try to strike a right balance, a place where losses don’t have the power to destabilize you on an emotional level, and yet, where gains are still meaningful.
If you can remain within that zone, the magic will happen.
70% expectancy rate with proper SL placement.
  • #47,320
  • Aug 17, 2019 9:33am Aug 17, 2019 9:33am
Hello guys! I'm new on this thread, I'd like to get some remarks about this Gartley pattern that I found on EURNZD 4H chart, all comment and critics are welcome )

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