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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

  • #47,601
  • Aug 26, 2019 9:49am Aug 26, 2019 9:49am
Hello Damian,

When you refer to re-qualifying the order flow, is this what you mean. Thank you
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Wow! I've got some experience to gain.
  • #47,602
  • Aug 26, 2019 9:51am Aug 26, 2019 9:51am
Quoting bmdenton23
{quote} FxBoss you're exactly right. A .618 entry carries a worse win% but far better RR, (which to some degree cancel each other out), the biggest impact at the end of the day, month, year is that waiting for the .618 hurts your frequency. It's still wildly profitable and if it suits your personality there's no need to change. Somewhere in between that .382 and the .618 is the sweet spot for the last year in terms of frequency, and per trade expectancy. {image}
Bmdenton23, thank you very much for the figures. I thought that both are even closer together. But for the last 12 month the 0.382 would have been the winner ;-)
I guess on the long run, it depends finally on the market conditions which one fits better.
  • #47,603
  • Aug 26, 2019 9:54am Aug 26, 2019 9:54am
MYM Long
Three Drives pattern followed by a Bat
Had to rescue/graceful exit and add 2nd contract
Forgot to update my Stop for 2 contracts so only 1 was taken out
Kept managing the remaining contract and was taken out trailing small structure.
+34 total on the 2 contracts, (not sure how to report the results on multiple contracts)

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  • #47,604
  • Aug 26, 2019 9:55am Aug 26, 2019 9:55am
Quoting trannhu
{quote} Dear Damian, can you please explain why you chose to capitalize on blue order flow but not yellow one? {image}
Would be nice to hear him explain this in the post session review as I was of the opinion that the HL of the Yellow line order flow was to be broken before expectation changes from Longs to Shorts
  • #47,605
  • Aug 26, 2019 10:03am Aug 26, 2019 10:03am
Now that we are all out of our longs this will go to 26000 :/
  • #47,606
  • Aug 26, 2019 10:06am Aug 26, 2019 10:06am
Quoting trannhu
{quote} Dear Damian, can you please explain why you chose to capitalize on blue order flow but not yellow one? {image}
Yes in the post session review
If you fail to plan, you plan to fail.
  • #47,607
  • Aug 26, 2019 10:09am Aug 26, 2019 10:09am
Quoting x3m-PippiN
Now that we are all out of our longs this will go to 26000 :/
I'm still in my long, but I'm not sure about the 26000. Price has a lot of obstacles to overcome.
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  • #47,608
  • Aug 26, 2019 10:17am Aug 26, 2019 10:17am
Quoting BlacMoni
{quote} Would be nice to hear him explain this in the post session review as I was of the opinion that the HL of the Yellow line order flow was to be broken before expectation changes from Longs to Shorts
I think that he once said that when you have an expectation in place doesn't mean you can not take shorter term order flow to capitalize on. And I think the size of the blue order flow was meaningful to take on the trade and the yellow one is not optimal base on the amount of risk you have to embrace. But it's just my thought on this, we still need to wait for the man to enlighten us on this.
  • #47,609
  • Aug 26, 2019 10:22am Aug 26, 2019 10:22am
Would this qualify for a Gartley.
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  • #47,610
  • Aug 26, 2019 10:48am Aug 26, 2019 10:48am
Quoting Kayjay2011
{quote} I'm still in my long, but I'm not sure about the 26000. Price has a lot of obstacles to overcome. {image}
Finally got taken out BE+10.
  • #47,611
  • Aug 26, 2019 10:51am Aug 26, 2019 10:51am
Good day today on YM with three trades. Calling it a day...

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Good work is the key to good fortune
  • #47,612
  • Aug 26, 2019 11:03am Aug 26, 2019 11:03am
1 Trade today. -26.
Was looking for a short beginning 2,875 due to weak new structure low so deeper area of interest.
The hits keep on comin'
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  • #47,613
  • Aug 26, 2019 11:08am Aug 26, 2019 11:08am
uugghh. slow. Monday. Waiting for my long to get to BE. Took 4 shorts and 1 long today. 2 wins, 2 losses, 1 BE with net +47 so far. Will post when I can (mainly for myself to look back on)
  • #47,614
  • Aug 26, 2019 11:10am Aug 26, 2019 11:10am
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  • #47,615
  • Aug 26, 2019 12:06pm Aug 26, 2019 12:06pm
Had a really bad day Friday. It was only the 2nd day out of 14 that I was able to trade due to work. I have found a strong inverse correlation to my likelihood of making a trading error and how often I can trade. In other words, the less I can trade the more likely I am to entertain an old demon like - chasing price on a quick move . I broke my rules and took multiple quick losses (fast market). The worst part was not having a draw down - but skewing my statistics of my plan.

Today, I my goal was to stay on plan and execute trades as they came. My first entry was sloppy and a little late - but expectations played out (just less profit. Later, on my long trade after the NSH, I waited for 25 minutes for price to come down to my AOI near 61.8 and structure... it hit the pivot, came up a little and then rotated again off of the 50 so I went long... and that is when price came down to where I wanted. More patience. + 109 for the day. Can't wait until I can trade more than 1 contract on this account. I can see almost every trading session how it could help me. May consider hitting the MYM to start practicing those skills.
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  • #47,616
  • Aug 26, 2019 12:40pm Aug 26, 2019 12:40pm
Quoting samfxx2
Hidden
We're fine thanks.
  • #47,617
  • Aug 26, 2019 1:39pm Aug 26, 2019 1:39pm
One naive question to fellow traders:

What is the differnce between a RANGE bar chart and tick chart. To me they both are same.

Why I am asking is because I trade on tradingview which provides range bar chart...So If I open a 144 range bare chart is it same as the 144 T chart?

https://www.tradingview.com/blog/en/range-bars-now-available-tradingview-8078/

Thanks
  • #47,618
  • Aug 26, 2019 2:46pm Aug 26, 2019 2:46pm
Quoting brrand
One naive question to fellow traders: What is the differnce between a RANGE bar chart and tick chart. To me they both are same. Why I am asking is because I trade on tradingview which provides range bar chart...So If I open a 144 range bare chart is it same as the 144 T chart? https://www.tradingview.com/blog/en/range-bars-now-available-tradingview-8078/ Thanks
Range bar is just that, once the number of ticks create a bar equal to the range setting(in your case the bar would be 144 ticks long from end to end) a new bar is created when price extends beyond the range setting(the new bar is formed when the range extends to 145 ticks) all bars will be 144 ticks long end to end
.
Anything is Possible!Side with the Probable!
  • #47,619
  • Aug 26, 2019 2:58pm Aug 26, 2019 2:58pm
Quoting FiftyFibFX
{quote} Range bar is just that, once the number of ticks create a bar equal to the range setting(in your case the bar would be 144 ticks long from end to end) a new bar is created when price extends beyond the range setting(the new bar is formed when the range extends to 145 ticks) all bars will be 144 ticks long end to end .
You sure? Range charts create a bar when price moves a certain number.
for example 1 point setting on ES would mean that a bar would create every time price moves up or down 1 point.

it clears up the ticks if it is an instrument with a lot of ticks per session. Damian mentioned that one of his buddies trades the ES using range bars due to the high volume
  • #47,620
  • Edited 5:15pm Aug 26, 2019 3:06pm | Edited 5:15pm
The bars on a tick chart are created based on a particular number of transactions. For example, a 233 tick chart creates a new bar every 233 transactions. Customize tick charts to the number of transactions you want, for example, 233 ticks or 1597 ticks.
Throughout the day there are active and slower time, where many or few transactions occur. Therefore, the x-axis typically isn't uniform with ticks charts. When a market opens there is lots of volatility and action, so tick bars occur very quickly. Five ticks bars may form in the first minute alone. During the lunch hour, though, when the number of transaction decreases, it may take five minutes before a single tick bar is created. Range bar charts are based on changes in price and allow traders to analyze market volatility. For example, a 10-tick range bar chart will print one bar each time there are 10 ticks of price movement. So, if a new bar opens at 585.0 in this example, that bar will stay active until price either reaches 586.0 (10 ticks up) or 584.0 (ten ticks down). Once ten ticks of price movement have occurred, that bar will close and a new bar will open. By default, each bar closes at either the high or the low of the bar as soon as the specified price movement is reached. https://www.investopedia.com/articles/trading/10/data-based-intraday-chart-intervals.asp
Time is an illusion, timing is an art.
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