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"Ratios & Harmonics: a Different Way to Trade." Summary 37 replies

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Attachments: Ratios & Harmonics: a Different Way to Trade
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Ratios & Harmonics: a Different Way to Trade

Nice Bat pattern that I'm watching
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Quoting pi14
Nice Bat pattern that I'm watching {image}
As far as I know the pattern that you shared can not be a bat since C point exced X. To be a valid bat C point has to complete in 61.8-78 6 range of AB swing.
Hello Traders,

How is your mastery coming along? What conflicts do you face when you are trading? What is your greatest weakness? Can any of you answer any of these questions? Often times we approach our day to day in the same manner and overlook the critical issue that are holding us back. Take a step back and tell me, what is holding you back? I assure you is is not lack of study nor is it preparation. You have put in the hours working on your craft getting stronger and more reckless day by day. I promise you that the failure rate is not in the strategy whether its mine or someone else. The problem is mastery! Traders, you know I'm a huge Star Wars fan and I can't help myself to reflect on my friend Yoda and the ways of the Jedi. The greatest story ever told. What does your story say and how can we tap into that our strengths and weaknesses and gain mastery over them? The floor is open and it's time to focus! Look within and search your feelings. What are they? What are your fears? What are your strength?
If you fail to plan, you plan to fail.
Quoting Mr. Pip
Hello Traders, How is your mastery coming along? What conflicts do you face when you are trading? What is your greatest weakness? Can any of you answer any of these questions? Often times we approach our day to day in the same manner and overlook the critical issue that are holding us back. Take a step back and tell me, what is holding you back? I assure you is is not lack of study nor is it preparation. You have put in the hours working on your craft getting stronger and more reckless day by day. I promise you that the failure rate is not in the...
I always struggle when to enter, is is going to be a complex correction? Will it reverse and hit SL? I have the most struggles with complex corrections tho
Quoting Mr. Pip
Hello Traders, How is your mastery coming along? What conflicts do you face when you are trading? What is your greatest weakness? Can any of you answer any of these questions? Often times we approach our day to day in the same manner and overlook the critical issue that are holding us back. Take a step back and tell me, what is holding you back? I assure you is is not lack of study nor is it preparation. You have put in the hours working on your craft getting stronger and more reckless day by day. I promise you that the failure rate is not in the...
For me, time to time flush the trade plan down the toilet, and go rouge.
One Good Trade
Quoting Mr. Pip
Hello Traders, How is your mastery coming along? What conflicts do you face when you are trading? What is your greatest weakness? ....
Hello Damian welcome back to your thread
I hope you were able to overcome the issues that kept you away for so long.

I know for some time now that my biggest problem is FAITH in my trading method. Which is essentially your trading method but in an altered version (added some technical tools for confluence and more confirmation for my entries).
I think trading the small 5K account was a fantastic idea, to show the thread members how your method performs when strictly following the rules you outlined very clearly. Seeing you grow this small account over time would have greatly improved my faith in the method, in fact it would have completely solidified my faith. And also that of other traders on this thread I assume.

Now, it was obvious that you were having some degree of difficulty growing the small account.
Although you kept a firm believe that it would launch at some point, it didn't (I assume?).
I think it is very important to make it a quest to search for the reason why this was happening.
What do you think was preventing the account from growing?
I assume you have also spent some time thinking about this.

I have some suggestions myself, I hope you don't mind.

We should consider the possibility that your trading on your personal account IS succesful because you do not always strictly follow cold rules, but you are adding a bit of Trading Master Powder That means A)your trading is partially discretionary AND/OR B)You are following one or more additional rules subconsciously, making you not enter certain setups, or making you exit the trade earlier or later, based on market conditions and technical indications.

Or maybe the market conditions have changed over the years and the succes rate of your method has changed? Maybe for your personal account you subconsciously adapted your trading to the changed market?

Maybe it was the fact that the low account balance did not allow you to work with more than 1 contract and you were not able to average positions or to rescue a trade?

And last but not least, it might have been the live sessions that were putting some pressure on your decision making process. Too many times I have seen you miss an entry and hear you say "I would have made 40 points if I had entered there, but I was distracted talking to you guys" or "This day WOULD have been a winning day if I had entered there and there." Maybe live trading is not something you should do in front of 100+ traders . I think it slightly alters your normal trading behaviour and makes you do things you would normally not do.

Also, most of us are loyal students and give you lots and lots of credit. But unfortunately some show a negative attitude towards you or are even trolling you live and on the thread. This must have an effect on any person, Mastery or no Mastery. And who can blame you, you're a human after all and we all have our limits.

Anyway, I still hope you continue with the small account or start over with a new one.
In my opinion, absolutely the most value comes from the short after-session videos trading this small account.
Everything about your method and the rules has been covered many many times in many many live videos and lesson videos.
It is of no use making new videos on subjects that were already covered extensively before.

Given all of the above, I would suggest that:
you have much fewer live sessions and/or when you do a live session, you do not trade the small account that trading session, to limit the impact on your decision making and on the account balance
you preferably trade the small account by yourself and post a brief review after the session explaining your entries and your thoughts. To me, these videos were the most valuable. Just short videos packed with precious stuff, as opposed to the sometimes long live videos, with a lot of repetition of previously covered topics. I must admit, I watched those afterwards with speed x2
Also the Q&A videos covering questions from the thread were very valuable in my opinion.

I would like to emphasize that I have no intention whatsoever to negatively criticize your work.
On the contrary, with this post I intend to help and support your work and your mission.
I have learned a lot from you, it is you that has kept me on the trading path, my faith in you as a trader and as a person is unquestionable.

May the Trading Force be with you
Hi Mr Pip,

I would like to say thank you again for teaching us your trading method. I'm trading profitably for 2 years now using your method but in a higher timeframe of H4 and D1. Using multiple entries. I find coupling with fundamental news and sentiment, it works even better. My win rate is around 55%, but with lots of breakeven trades, more than 50% of my trades are actually breakeven. Win lose ratio around 1.15. Based on 517 trades so far in 2 years period. So I guess I have finally found an edge in trading. Really thanks to you Mr Pip!

I also tried trading intraday, using the M1, M5 but failed. So I gave up on intraday trading.
Quoting Mr. Pip
Hello Traders, How is your mastery coming along? What conflicts do you face when you are trading? What is your greatest weakness? Can any of you answer any of these questions? Often times we approach our day to day in the same manner and overlook the critical issue that are holding us back. Take a step back and tell me, what is holding you back? I assure you is is not lack of study nor is it preparation. You have put in the hours working on your craft getting stronger and more reckless day by day. I promise you that the failure rate is not in the...
My greatest weakness is my lack of confidence in applying consistently the rules of my plan. I am still working in developing the belief system needed to follow my plan with discipline and consistency. Recently I have left a lot of money on the table because of that. Fear and danger are two different concepts which sometimes as humans we confuse. Thia is something I need to tackle.
Hello and welcome back, Damian! It's nice to see that you're in the battlefield with us and I hope everything has been well while you were taking a break from the thread.

Now I've been noticing people saying they lack confidence or consistency with their trading. I really like to say "just man up and let yourself suffer through losing trades and don't let your emotions get the best of you" but it ain't so simple. I had a massive drawdown during March not because my method doesn't work but because I didn't adjust myself to the volatility and now I also have a mild case of lack of confidence. I'm pretty sure that every trader goes through this multiple times in his career. You have good periods and bad periods. It's just how trading goes...

What really helped me was taking my core beliefs about trading and putting them into a trade plan. That way I'm aligned with my plan. I thought I was doing that while using Damian's method but I never managed to be consistently profitable and in retrospect I'm pretty sure it was because of lack of belief and thus making the wrong decisions in the long run. Also after my drawdown a fellow trader told me to imagine myself sitting next to me and watching myself trade. That way it's easier to distance from your emotions and make better decisions.

Now for some people who like to "put words in my mouth", I'm not saying or implying in any way that Damian's method doesn't work but mindset is more important for most people who already have skills in analysis!
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Quoting PeterT
{quote} Hello Damian welcome back to your thread I hope you were able to overcome the issues that kept you away for so long. I know for some time now that my biggest problem is FAITH in my trading method. Which is essentially your trading method but in an altered version (added some
Frankly, live sessions are the most important part of this, for two reasons. During the whole trading session one should be able to maintain the same level of mental stamina, by going over the sessions without skipping can train the mental and physical ability. Secondly, there are lot of decisions being made during the live trading which are not necessarily written down in the trade plan, let me illustrate.

Recently, two of my trades went over 50+ ticks but ended in break even, which upsets me though I stick to my trade management rules. Later, I saw another way to think in such situation without breaking the rules, in the below video (35:00).
https://www.youtube.com/watch?v=Nd2k3x0RLZg
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One Good Trade
1 trade today
+130
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Quoting PandionFX
{quote} Frankly, live sessions are the most important part of this, for two reasons. During the whole trading session one should be able to maintain the same level of mental stamina, by going over the sessions without skipping can train the mental and physical ability. Secondly, there are lot of decisions being made during the live trading which are not necessarily written down in the trade plan, let me illustrate. Recently, two of my trades went over 50+ ticks but ended in break even, which upsets me though I stick to my trade management rules....
Of course, I agree on the great benefits of the live sessions.
But I am considering the countless live videos that were already made and are still available for reviewing.
Look at your example, you found a solution in an old live session video.
Which brings me to my point: people should review the old videos and take notes extensively, then you have a treasure of information and everything doesn't have to be repeated twenty times during the live sessions. (no offense to you!)

I have seen each and every one of these videos (I assume you also did), took notes extensively, without skipping.
Maybe it is just me, but the last few live sessions I really had a feeling that everything has been said and explained multiple times.
It was still possible to find an hidden goldnugget here and there, but for me they were getting too scarce.
Absolutely no offence to Damian! The live sessions are still great, but especially for people that have not seen the previous 60 sessions

I think I just find it disturbing when for the 100th time someone asks for the definition of a rotation candle and the difference between SOS1, 2 and 3 just to mention two of many frequently recurring questions
I was only suggesting lowering the frequency of the live sessions, not eliminating them, for Damian's sake, for the small account's sake, and because more does not necessarily equal better.
I think the emphasis should not be on the theory anymore, explaining the basics of the method, but more on applying it and getting results from it by trading the small account, and reviewing the trades that were made.
Of course, my personal opinion, maybe others do not agree.

And finally, too bad for your 2 missed profits , but as you know, that is the life of a trader , I hope you booked your profit on the 3rd one
In this situation, you could have trailed on decision candles and small structure and booked a bigger profit. But think of it another way: You are trailing on decision candles, you are taken out by 1 point and the price shoots through the support. Then you have missed 50 points the other way.

Good trading to you
Quoting PeterT
{quote} Of course, I agree on the great benefits of the live sessions. But I am considering the countless live videos that were already made and are still available for reviewing. Look at your example, you found a solution in an old live session video. Which brings me to my point: people should review the old videos and take notes extensively, then you have a treasure of information and everything doesn't have to be repeated twenty times during the live sessions. (no offense to you!) I have seen each and every one of these videos (I assume you also...
Maybe when the live streams are done it should not be recorded and uploaded as a video on the channel.
Quoting lithium1
I also tried trading intraday, using the M1, M5 but failed. So I gave up on intraday trading.
i achieve your same result intraday trading by taking 1 expectation in one day.
Quoting Ebenol
{quote} Maybe when the live streams are done it should not be recorded and uploaded as a video on the channel.
Ebenol I don't see how this would solve any of the points I made
Definitely main challenge Rn is if covid is something that might need to alter the plan or stick to the plan.
Quoting Mr. Pip
Hello Traders, How is your mastery coming along? What conflicts do you face when you are trading? What is your greatest weakness? Can any of you answer any of these questions? Often times we approach our day to day in the same manner and overlook the critical issue that are holding us back. Take a step back and tell me, what is holding you back? I assure you is is not lack of study nor is it preparation. You have put in the hours working on your craft getting stronger and more reckless day by day. I promise you that the failure rate is not in the...
First, I would like to say, that I LOVE your videos. Especially the reviews explaining entries and exits (probably because this is where I need the most help). I cannot thank you enough for passing on your knowledge!

What seems to hinder my progress is entries. I know you are always saying that I need to know what order flow I am trading. Inevitably which ever order flow I choose to trade, if you look at the other order flow, it seems to be going in the opposite direction. It is like you can make an argument for the other order flow. It's like flip a coin! I find it very frustrating!

Because most are starting with a small account, I loved watching you trade a small account. Unfortunately, there was an immediate drawdown, not allowing us to see how you implement larger lot sizes, as the account grows. This I would of loved to have seen, I hope you try it again!

I watch you on YouTube frequently and cannot wait to see your next video! Thanks again!
Hello Traders, I have read your post after mine and instead of answering each one I will do it as a whole. You can see that there is still plenty of emotion affecting your decision making that is the root of the problem. So that is what we must work on.

Ok, we will take a few steps back and simplify things a bit more. We will work more with structure and trade zones. The issue with small accounts are the margin requirements but we will see what we can do about that. And we will continue with more videos and live streams and suggested by our friend PeterT or something close. It's time to finish what we started as I am getting close to retiring and looking forward enjoying more the fruits of my labor and passing on the torch to as many of you to pay forward as possible. Give me a couple more weeks of organize myself and we will get busy.
If you fail to plan, you plan to fail.
Quoting bapakjason
{quote} https://youtu.be/CztT2bL-RFI Was just the last live stream with 144tick chart
This is a great example of zone trading that works for small accounts. It was an excellent live stream from December 18, 2018 and I'm surprised more comments and fans of this style didn't follow.
Damian zone trades and very easily shows how to grab quick profits in smaller zones.
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