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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

  • #48,221
  • Sep 19, 2019 8:54am Sep 19, 2019 8:54am
3 trades today. +19
1. Long. +40. went further then my 1 to 1 on immediate OF, I was looking for a short higher up so I took a long into it.
2. Rescue mission after higher close on structure. +9. Was trailing to take long upon expectation failure.
3. Short -30.
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  • #48,222
  • Sep 19, 2019 9:01am Sep 19, 2019 9:01am
Quoting Pair-me-up
I circled a possible continuation pattern. The text book shows it differently though. {image}

I had to go take a quick shower..however, for those that want to know, this is an example of a Japanese candlestick continuation pattern. If you look through your charts you can see them on all time / tick charts.
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Luck has no place in trading. Leave that for the poker table.
  • #48,223
  • Sep 19, 2019 10:00am Sep 19, 2019 10:00am
1 trade on YM today.

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Good work is the key to good fortune
  • #48,224
  • Sep 19, 2019 11:37am Sep 19, 2019 11:37am
Today was a good day. I took just one trade. As you can see from the chart last swings were getting smaller and smaller creating an area of resistance. Then price tried to retest the high but couldn't. So I saw an acceleration in price to the downside and identified an area of possible turn between the two blue lines I also got a deep correction as expected after a change of expectation.

As target was reached I trailed aggressively and got taken out with +58 points in the pocket. Not bad..
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  • #48,225
  • Sep 19, 2019 12:08pm Sep 19, 2019 12:08pm
My trades today +89
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The expectation is your Friend, the expectation is your Friend
  • #48,226
  • Sep 19, 2019 3:29pm Sep 19, 2019 3:29pm
The X-A on this Gartley was a long one. None the less all of the ratios were in tact and the expectation of the pattern played out.
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Damn The Torpedoes, Full Speed Ahead!
  • #48,227
  • Sep 19, 2019 3:38pm Sep 19, 2019 3:38pm
Hey everyone, I'm new to the forum! I've been following your work for a few months through YouTube and really appreciate all that you do for the trading community. You are truly a blessing! By the way, I think we should start calling you Dame Dolla from now on, instead of Mr.Pip LOL. Thoughts?

Was also wondering if you can suggest us any tips to improve on our game outside of market hours. You often talk about having years of hard work and sweat equity to making this work. I'm currently on sim trying to practice the methodology and would love to hear your thoughts.

Thanks a bunch Dame$!
  • #48,228
  • Sep 19, 2019 4:21pm Sep 19, 2019 4:21pm
Quoting PB108
Hey everyone, I'm new to the forum! I've been following your work for a few months through YouTube and really appreciate all that you do for the trading community. You are truly a blessing! By the way, I think we should start calling you Dame Dolla from now on, instead of Mr.Pip LOL. Thoughts? Was also wondering if you can suggest us any tips to improve on our game outside of market hours. You often talk about having years of hard work and sweat equity to making this work. I'm currently on sim trying to practice the methodology and would love to...
Lol Damian Lillard reference
  • #48,229
  • Sep 19, 2019 5:14pm Sep 19, 2019 5:14pm
Quoting standrdtrde
{quote} Lol Damian Lillard reference
Lmaoo yes!! Figured someone would get it ahaha. Suits him perfectly though!
  • #48,230
  • Sep 19, 2019 5:45pm Sep 19, 2019 5:45pm
In trading, since real money is involved, it's very easy to let raw, instinctual responses take over rational, strategic thinking.

Hence, being a good trader is anything but easy. It really requires a superior mode of thinking and being.
70% expectancy rate with proper SL placement.
  • #48,231
  • Sep 19, 2019 9:20pm Sep 19, 2019 9:20pm
so a pair of crabs dominate the chart
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  • #48,232
  • Edited 3:20am Sep 20, 2019 1:40am | Edited 3:20am
Can I call this a shit day without being an idiot?
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I don't show all analysis, just final swings in blue. Suffice to say that I went long on 1st arrow, short on 2nd, and long on 3rd
Did I do anything wrong? I think I had nice rotations every time and going in the direction of the last structure. But it ended up doing HH, LL, HH, LL, so 3 stops triggered!!

Edit: hum ... went short again on the longer order flow, guess what... it made a NSH... so been so far HH, LL, HH, LL, HH... there are days...
  • #48,233
  • Sep 20, 2019 3:38am Sep 20, 2019 3:38am
Quoting ForeverNewb
Can I call this a shit day without being an idiot? {image} I don't show all analysis, just final swings in blue. Suffice to say that I went long on 1st arrow, short on 2nd, and long on 3rd Did I do anything wrong? I think I had nice rotations every time and going in the direction of the last structure. But it ended up doing HH, LL, HH, LL, so 3 stops triggered!!
Yeah this megaphone pattern sucks if you get caught up in it(Draw trend lines across the top and bottom pivots for megaphone). Market's working out a correction of the higher time frame range creating liquidity for higher. If you back up to higher time frame you can see the price action is a correction within a range with an expectation for higher. If you move up to the immediate order flow you had some tradeable trending, but if you want to trade the direction of least resistance then wait for the lower time frame to align with the higher and trade it. Pro Traders and algos look for entries at the 50 fib or better because the risk is never greater than the reward(a good rule to follow)
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Anything is Possible!Side with the Probable!
  • #48,234
  • Sep 20, 2019 4:23am Sep 20, 2019 4:23am
Quoting ForeverNewb
Can I call this a shit day without being an idiot? {image} I don't show all analysis, just final swings in blue. Suffice to say that I went long on 1st arrow, short on 2nd, and long on 3rd Did I do anything wrong? I think I had nice rotations every time and going in the direction of the last structure. But it ended up doing HH, LL, HH, LL, so 3 stops triggered!! Edit: hum ... went short again on the longer order flow, guess what... it made a NSH... so been so far HH, LL, HH, LL, HH... there are days...
To add to Fifty Fib's answer; BMD posted the results of his computer generated back testing and I think that had a 5 trade losing streak, yet was quite profitable over the course of a year. (Not that I have the mental fortitude to stroll through that situation )
Wow! I've got some experience to gain.
  • #48,235
  • Sep 20, 2019 4:48am Sep 20, 2019 4:48am
Quoting brrand
{image} Took this short on EURJPY. price is holding up at 88% fib. Need the bears to come with full force. good structure to the left which needs to hold
after ~24 hours, got a breakout of the flag. hoping to follow through the trade to its expected position.
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  • #48,236
  • Sep 20, 2019 6:23am Sep 20, 2019 6:23am
My chart to start this morning. That huge swing from yesterday corrected back to the 78.6 and now moving higher. The immediate order flow has also made NSH.

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Good work is the key to good fortune
  • #48,237
  • Sep 20, 2019 6:33am Sep 20, 2019 6:33am
Long
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If you fail to plan, you plan to fail.
  • #48,238
  • Sep 20, 2019 6:44am Sep 20, 2019 6:44am
Have you ever considered adding to a winning position?
  • #48,239
  • Sep 20, 2019 6:46am Sep 20, 2019 6:46am
BE taken out
If you fail to plan, you plan to fail.
  • #48,240
  • Sep 20, 2019 6:46am Sep 20, 2019 6:46am
Quoting Mr. Pip
Long {image}
i trailed aggressively ones price got to that high
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