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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

  • #47,521
  • Aug 23, 2019 9:48am Aug 23, 2019 9:48am
Quoting Pair-me-up
{quote} It's still a win.
Yeah it is...NEXT
  • #47,522
  • Aug 23, 2019 10:03am Aug 23, 2019 10:03am
Whoa. Crap. I was in a nice little buy with trade to BE and almost to first profit target - then 10:00am hit. Lucky to get slipped only to lose $3
  • #47,523
  • Aug 23, 2019 10:08am Aug 23, 2019 10:08am
Finally got my pound of flesh out of the clash
Attached Image (click to enlarge)
Click to Enlarge Name: MYM 09-19 (89 Tick) 2019_08_23 (4_01_28 PM).png Size: 65 KB


No need to get greedy, a risk:reward of 1:2 is just okay for me. Plus I take maximum of two(2) trades a day, for me anything more than that is over trading. N/B: This is just personal as I risk 3% per trade and i'm only willing to lose max 6% of my account a day
  • #47,524
  • Aug 23, 2019 10:13am Aug 23, 2019 10:13am
Quoting Pair-me-up
Something I noticed on the 1597 tick chart. I am not sure if it is correct or not. {image} {image}
The market is going into berzerker mode. However, my short demo trade had the target hit just below the completion of this patterns. I wouldn't recommend for anyone to be in this market at this time though.
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Luck has no place in trading. Leave that for the poker table.
  • #47,525
  • Aug 23, 2019 10:33am Aug 23, 2019 10:33am
I saw this picture here on FF about the Trade war with America and communist China.

After seeing the market move several points in both directions... well... this picture gave me a good laugh.
Attached Image
Luck has no place in trading. Leave that for the poker table.
  • #47,526
  • Aug 23, 2019 10:54am Aug 23, 2019 10:54am
Crazy day today Post session review later.
Attached Image (click to enlarge)
Click to Enlarge Name: YM 09-19 (144 Tick) 2019_08_23 (11_53_13 AM).png Size: 71 KB
If you fail to plan, you plan to fail.
  • #47,527
  • Aug 23, 2019 10:54am Aug 23, 2019 10:54am
Quoting Pair-me-up
I saw this picture here on FF about the Trade war with America and communist China. After seeing the market move several points in both directions... well... this picture gave me a good laugh. {image}
Trump is trying to make the fed fold and the fed is like nah dog data dependent.

He seems irrational but Erdogan pulled the same shit in Turkey and it worked. Politicians have playbooks too
  • #47,528
  • Edited 2:32pm Aug 23, 2019 11:14am | Edited 2:32pm
Sticking to my trade plan during these times is a testament to my faithfulness.
2 Trades today. -71 points.
1.Nasty rotation on the first
2. Didn't catch the long because if you zoom in you can see that the candle didnt hold half its volume so couldn't qualify it as a rotation.
3. Took the second one that fell into the plan and it stopped me out.
Hopefully the art of Reading Candles didn't die with Homma Munehisa. Below are the two references I found related to his wiki page, if anybody has more recent research or something more that can contribute to the rotation candle conundrum, we would all be very grateful to have some objective rule in our trade plan.

 

  1. Candlestick Charting Explained: Timeless Techniques for Trading Stocks and Futures, Gregory L. Morris, McGraw-Hill, 2006, ISBN (https://en.wikipedia.org/wiki/International_Standard_Book_Number) 0-07-146154-X (https://en.wikipedia.org/wiki/Special:BookSources/0-07-146154-X) / 9780071461542 (tel:9780071461542)
  2. ^ (https://en.wikipedia.org/wiki/Homma_Munehisa#cite_ref-2) Beyond Candlesticks: New Japanese Charting Techniques Revealed, Steve Nison , Wiley Finance, 1994, ISBN (https://en.wikipedia.org/wiki/International_Standard_Book_Number) 0-471-00720-X (https://en.wikipedia.org/wiki/Special:BookSources/0-471-00720-X), p14.

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  • #47,529
  • Aug 23, 2019 11:17am Aug 23, 2019 11:17am
Two trades on YM today. Between the FED and Trump, what a crazy session. First one was on the short term order flow with the bearish day. Second, I realized two AB = CD's coming together with structure to left, so re-entered short taking a D trade.

Attached Image (click to enlarge)
Click to Enlarge Name: YM August 23.PNG Size: 58 KB
Good work is the key to good fortune
  • #47,530
  • Aug 23, 2019 11:30am Aug 23, 2019 11:30am
Quoting standrdtrde
Sticking to your trade plan during these times is a testament to my faithfulness. 2 Trades today. -71 points. 1.Nasty rotation on the first 2. Didn't catch the long because if you zoom in you can see that the candle didnt hold half its volume so couldn't qualify it as a rotation. 3. Took the second one that fell into the plan and it stopped me out. Hopefully the art of Reading Candles didn't die with Homma Munehisa. Below are the two references I found related to his wiki page, if anybody has more recent research or something more that can contribute...
I posted some of the books about candlesticks on the discord channel awhile back. So, just go there and find it if you want.
Luck has no place in trading. Leave that for the poker table.
  • #47,531
  • Aug 23, 2019 11:31am Aug 23, 2019 11:31am
Quoting Pair-me-up
{quote} I posted some of the books about candlesticks on the discord channel awhile back. So, just go there and find it if you want.
Is** there a link to discord channel here? I’ll look into it thanks fellow scholar
  • #47,532
  • Aug 23, 2019 11:56am Aug 23, 2019 11:56am
Quoting standrdtrde
{quote} Is** there a link to discord channel here? I’ll look into it thanks fellow scholar
Quoting PeterT
{quote} Hi this was already done by member pereiraalex. I hope this link still works: https://discord.gg/yGUEzue
Here is what was posted weeks ago.
Luck has no place in trading. Leave that for the poker table.
  • #47,533
  • Aug 23, 2019 12:30pm Aug 23, 2019 12:30pm
Have a plan and keep your thinking to the bare minimum.

If you tried to ride a bike by telling yourself exactly what each foot should do, you’d fall.

It's the same in trading.
70% expectancy rate with proper SL placement.
  • #47,534
  • Aug 23, 2019 12:41pm Aug 23, 2019 12:41pm
Hey @BMDenton23 I sent you a message on discord would love any type of feedback. Thanks again in advance
  • #47,535
  • Aug 23, 2019 2:53pm Aug 23, 2019 2:53pm
I went rouge and butchered the sh*t out of my trade plan today. I wasn't a bear, I wasn't a bull ...I was a pig and pigs get slaughtered.

-85 for the day
The red swings were the correct orderflow that I should have followed. I was also watching the blue swing which qualified for a main swing. I tried two shorts on it. The second was with an aggressive move to BE. After those two trades I got sloppy and mixed orderflows. After the last trade I closed the chart because in the past this is the point where I've made big mistakes and losses.
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  • #47,536
  • Aug 23, 2019 8:39pm Aug 23, 2019 8:39pm
Hello Traders,

Here is the post session review.

https://youtu.be/4mPjtWDNC20
If you fail to plan, you plan to fail.
  • #47,537
  • Aug 24, 2019 3:28am Aug 24, 2019 3:28am
Quoting Dropplan
Have a plan and keep your thinking to the bare minimum. If you tried to ride a bike by telling yourself exactly what each foot should do, you’d fall. It's the same in trading.
I like most of your quotes, but I think the bike analogy fails in regards to how our brains learn... different parts of the brain, muscle memory, etc.

I have done enough studies on the brain in this area to know.

I see the point of the post. Have enough confidence in your plan to not worry so much.
Luck has no place in trading. Leave that for the poker table.
  • #47,538
  • Aug 24, 2019 4:38am Aug 24, 2019 4:38am
Hi Damian
I have just watched the post review from friday,before i ask the question i would like to thank you for all the help and avice i have had through the thread/live sessions and everything else.

After watching you for the past few weeks with the 5k account you seem to be more Emotionally/psychologically involved with this than your large account.

Do you think it is due to you want to succeed more with this account than you did your original one to prove it can be done time after time to those like myself who will be starting out with a very small account,after all we are human and to take away the emotions Completely from any thing would be impossible.

The Emotionally/psychological aspects of trading are very strong and after all the time you have been doing it and still go through it has per the post reviews etc how do you see your self if the account gets smaller with more losses.

I know you have the funds to open another one but i wanted to know how it effects you personally on these levels with the draw down.Has i will be no doubt experience these first hand with in the next few months.

Many thanks for everything you do.
Lee
  • #47,539
  • Aug 24, 2019 8:36am Aug 24, 2019 8:36am
Mr Pip,

I just like to thank you for all the free trading tuition on ff , Ratios and harmonics trading system makes sense its clear.
Please keep the videos coming and dont let few individuals spoil for others that want to lern.
I do apologise for the English mistakes as is my second language and again thank you for all you doing for as newbies.

Vini
  • #47,540
  • Aug 24, 2019 10:46am Aug 24, 2019 10:46am
Keeping your losses small and manageable is exactly what will allow you to recover from them quickly.
70% expectancy rate with proper SL placement.
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