Attachments: Ratios & Harmonics: a Different Way to Trade

Ratios & Harmonics: a Different Way to Trade

#47,821
Sep 2, 2019 11:07am Sep 2, 2019 11:07am

BlacMoni
| Joined Jan 2016 | Status: Trader | 123 Posts

Quoting Hgo

Disliked

ZZZZZZ. So quite here today.

Ignored

Holiday I guess...

Just one trade for me today

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#47,822
Sep 2, 2019 11:33am Sep 2, 2019 11:33am

Mr. Pip
| Membership Revoked | Joined Jul 2010 | 9,273 Posts

Holiday here and a Hurricane off shore. Will join you guys tomorrow if the storm permits.

If you fail to plan, you plan to fail.

#47,823
Sep 2, 2019 6:00pm Sep 2, 2019 6:00pm

Dropplan
| Joined Dec 2006 | Status: Trading is about probabilities ... | 84 Posts

A very good interview on trading:
Mark Douglas Discussed Trading Psychology, Risk and much more

https://www.youtube.com/watch?v=sg4YzRhILFE&t=183s

70% expectancy rate with proper SL placement.

#47,824
Sep 2, 2019 7:33pm Sep 2, 2019 7:33pm

Mr. Pip
| Membership Revoked | Joined Jul 2010 | 9,273 Posts

Quoting Dropplan

Disliked

A very good interview on trading: Mark Douglas Discussed Trading Psychology, Risk and much more https://www.youtube.com/watch?v=sg4YzRhILFE&t=183s

Ignored

Funny how I’ve never read his books or seen this but I will listen to it thank you

If you fail to plan, you plan to fail.

#47,825
Sep 2, 2019 8:48pm Sep 2, 2019 8:48pm

Rush2112
Joined Nov 2018 | Status: Trader | 351 Posts

Quoting Dropplan

Disliked

A very good interview on trading: Mark Douglas Discussed Trading Psychology, Risk and much more https://www.youtube.com/watch?v=sg4YzRhILFE&t=183s

Ignored

He is saying many of the exact things Damian is trying to teach us. Such as: our technical analysis / pattern entry, does not guarantee a winning trade. The outcome is completely random. How many times have we heard, "it is not my job to filter out trades because of how strong those candles look or this or that, we don't know which one of these signals are going to win or fail".

Since the result is random, to be profitable we have to keep up with the expectancy / frequency.

We have to be in a state where we don't trade with fear, but instinctively per the rules of our plan.

I have not listened to the second half yet, but the beginning sounds very familiar.

Dropplan, thanks for sharing.

Good work is the key to good fortune

#47,826
Sep 3, 2019 6:30am Sep 3, 2019 6:30am

FiftyFibFX
| Joined Dec 2018 | Status: Trader | 132 Posts

And here is his book in PDF

Attached File(s)

Trading_in_the_Zone_Mark_Douglas.pdf 733 KB | 288 downloads

Anything is Possible!Side with the Probable!

#47,827
Sep 3, 2019 7:43am Sep 3, 2019 7:43am

SDspeculator
| Joined Sep 2019 | Status: Trader | 23 Posts

hi,
recently started learning this method. below is my first chart marking NSLs on crudeoil 5M chart (traded on MCX in India). if mistakes are there kindly correct me

https://i.imgur.com/mhXoik2.png

regds,

#47,828
Sep 3, 2019 7:45am Sep 3, 2019 7:45am

Chalky600
| Joined Oct 2014 | Status: Trader | 93 Posts

Quoting pereiraalex

Disliked

{quote} I don't agree with your line of thinking. The video above is just for laughs, but it creates a mentality of "you are dumb to short at the lows and dumb to buy at the highs". Then you begin thinking on counter trend and overbought and oversold. And its a good way to take retailers money, with quick catchphrases and "others lose money because they are dumb and noobs". If your analysis said to short at historical low, then short it, damn ! its only historical lows after a few years, and at hindsight we are all millionaires. Your only mistake...

Ignored

The video is clearly a bit of fun, yet provokes some thought as to the workings of the market. As traders how many of us have taken a trade only to find we have sold a low, and i can see the broker laughing whilst he banks his commision.

My take on it is don't chase the market, use order flow to try to get the best low risk entry point, ideally a retracement in a trend, and then you at least have a chance of getting in at the beginning of a move rather than the end.

I know of no analysis that would short at a low..... unless of course the low breaks then thats a different matter..

I was taught to buy support sell resistance and keep it simple!

OH and Never add to a loosing position!

#47,829
Sep 3, 2019 7:57am Sep 3, 2019 7:57am

Chalky600
| Joined Oct 2014 | Status: Trader | 93 Posts

Quoting Pair-me-up

Disliked

{quote} It takes millions of dollars to move the price of most financial markets. The screen shot you posted are orders being filled. A person, institution, etc could place an order to purchase 500 contracts, or a person or institution, etc could place an order for 1 contract. If you pay attention to the bid / ask price in the last few weeks... most of the orders appearing are like 5, 7 10, 16, etc are small numbers. However, they are still big enough, to move the market enough, for traders to use their TA skills to make positive points. So, if...

Ignored

Mr Pip i hope you don't mind me answering this one

If you are trading futures on level2 then you are dealing direct with the market. In order for you to buy one contract someone has to be willing to sell you a contract at that price, its an auction simple as that

so for every buy there is also a sell, an absence of sellers means it auctions up as buyers pile on top of each other until the sellers become interested in re engaging

Its as simple as that

if anyone disagrees with me please provide something to back up what you are saying rather than conjecture

#47,830
Sep 3, 2019 8:55am Sep 3, 2019 8:55am

Mr. Pip
| Membership Revoked | Joined Jul 2010 | 9,273 Posts

GM Traders, Live stream tomorrow

If you fail to plan, you plan to fail.

#47,831
Sep 3, 2019 9:01am Sep 3, 2019 9:01am

brrand
| Joined Jan 2017 | Status: Trader | 145 Posts

Quoting SDspeculator

Disliked

hi, recently started learning this method. below is my first chart marking NSLs on crudeoil 5M chart (traded on MCX in India). if mistakes are there kindly correct me {image} regds,

Ignored

looks good to me for the immediate order flow. question is...would you have gone long at around 3944 level?
also, you can insert your screenshots directly in FF instead of going to imgur

Thanks

#47,832
Sep 3, 2019 9:18am Sep 3, 2019 9:18am

Mr. Pip
| Membership Revoked | Joined Jul 2010 | 9,273 Posts

Short a bit aggressive but the market has been very bearish

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If you fail to plan, you plan to fail.

#47,833
Sep 3, 2019 9:35am Sep 3, 2019 9:35am

FiftyFibFX
| Joined Dec 2018 | Status: Trader | 132 Posts

Good Morning so far. 2 losers 2 winners and 1 big winner with a compound. My compound stop gave a risk of slightly better than BE but the reward made it worth taking with the weakness in YM this morning in relation to the other indexes. When the other indexes began to drop I felt the target was at least the bottom of the day's range for all. NQ tested low as of this posting, the rest took it out. Could see more weakness till NQ takes the low of day. NQ been the stronger today.

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Anything is Possible!Side with the Probable!

#47,834
Sep 3, 2019 9:39am Sep 3, 2019 9:39am

Rush2112
Joined Nov 2018 | Status: Trader | 351 Posts

Lining this one up at 26077 to 26084 area...

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That was fast. Moved to BE after 38% was hit and taken out at +5...

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Good work is the key to good fortune

#47,835
Sep 3, 2019 9:41am Sep 3, 2019 9:41am

Chalky600
| Joined Oct 2014 | Status: Trader | 93 Posts

Quoting Rush2112

Disliked

Lining this one up at 26077 to 26084 area... {image}

Ignored

you buying looking for that as a target or looking to sell?

#47,836
Sep 3, 2019 9:59am Sep 3, 2019 9:59am

Mr. Pip
| Membership Revoked | Joined Jul 2010 | 9,273 Posts

I got taken out but have not been able to get an entry

If you fail to plan, you plan to fail.

#47,837
Sep 3, 2019 10:00am Sep 3, 2019 10:00am

SDspeculator
| Joined Sep 2019 | Status: Trader | 23 Posts

Quoting brrand

Disliked

{quote} looks good to me for the immediate order flow. question is...would you have gone long at around 3944 level? also, you can insert your screenshots directly in FF instead of going to imgur Thanks

Ignored

hi,
thanks for the reply. i am not thinking about trades as off now. focusing on the basics first.
couple of Qs:
1) what do you mean by "immediate order flow", is there any other kind?
2) why do you consider going long around 3944 as trend is down?

thanks

#47,838
Sep 3, 2019 10:06am Sep 3, 2019 10:06am

FiftyFibFX
| Joined Dec 2018 | Status: Trader | 132 Posts

I use the NT8 voice alerts, but they are too loud when watching or listening to something else. I reduced the volumes to 33% and 20% and replaced the regular volume sound files in the program folder.

Here's reduced volume files if anyone interested. I created an new "Original sound files" folder within the sound folder in NT8 program files and then moved the original sound files within the sounds folder into it. After expanding the reduced volume files, I then moved the individual sound files into the NT8 sound folder. I used the 20%.

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