Ratios & Harmonics: a Different Way to Trade

Took a weak rotation and paying the price on the pain train

I've been practicing for about a month and this is probably one of my best trading sessions, not because I made a good profit, but because I was able to patiently wait for ideal setups and profit from them. Closed my first trade too early against the trading plan because of impulsivity, so there's definitely progress to be made as far as emotional control goes.

Crazy market today, +329 points

Question guys???

What day should we rollover the YM contracts. The expiration date is 19th June. should we do it the day before or on the same day? And should we even trade that day because the charts look ridiculous after the rollover. Please advice.

Hey RajD still alive and trading?
You can check the volume traded on both contracts and decide to switch to the September contract when the volume is higher than the June contract.
See here:
https://www.cmegroup.com/trading/equity-index/us-index/e-mini-dow.html
or here:
https://www.barchart.com/futures/indices

How you doing Peter? good to know you and some of the old guys are still around.

Yea I'm still alive . Got bashed by the markets multiple times and even quit for 6 months last year. But can't unlearn this system. Just went live 3 weeks back and I'm happy to be back.

Yea i figured the volume traded thing out. It was a split day. Some have already moved to the September contract which is why it was such a slow day in the beginning and then suddenly things picked up. Got too expensive to enter so was just chart reading yesterday.

Will try to be a little more active on the thread. cheers bro!!!

Yes still around, as are many others. I guess we're all waiting on our surfboard for Mr. Pip's next wave
I hope we then all start contributing more again like good old times
Personally, I'm not trading at the moment, just studying when I have the time, trading Replays.
I will not go live before I have a solid trade plan that I believe in.
Lost enough already

Good luck in your trading

This is the type of thing that pisses me off... Next

I know that Mr. Pip recommended using a VPS for live trading, but I can't find much information on how to choose a good VPS for trading and how to set-up ninjatrader with it, does anyone have a clue?

I've been following this thread for a couple of years but this is my first post. Firstly, I want to say thanks to Damian aka Mr Pip for his willingness to share his trading knowledge and walk us through how he executes trades as a professional trader. I've watched his videos and read his posts and am still amazed by his generosity. I can't understand why this has been moved to the commercial content section when he has never tried selling anything and I think it does a disservice to both him, and other hopeful traders that may miss the wealth of knowledge contained within this thread.

Like many, I've tried and failed at this game before. I always felt like I had unfinished business with trading, but this time I set myself a number of milestones that I would need to reach before trying again. This thread is 90% of the reason I have met those goals and have been able to start trading live again.

In one of Damian's videos he talks about developing a trading plan and gives advice on how to create one and what to include. I can't recommend doing this enough. Writing your plan down forces you to critically review your rules and it exposes any holes in them pretty quickly. Personally, it has also removed the 'excuses' I had for not entering trades, or not exiting, or exiting too soon etc.

I don't know how to write code to back-test so I have done all my demo testing day to day. I review each days activity and work through it bar by bar. When doing this I have been VERY critical. I intentionally cut winners short, and take full losses. If in doubt, I have defaulted to the worst case. I then took the results and cut them in half to allow for slippage etc. After hundreds of trades over a very turbulent year, I kept getting consistent results with a positive expectancy and this has given me confidence in my rules (which are 90% Damian's). The differences between us are that I only trade AB/CD patterns and use limit orders for entry/exit. I also look at one higher term chart for trend confirmation and have both a min/max size swing for the AB leg to reduce risk and try to limit getting caught up in 'noise'. As Damian said many times - Keep it Simple!

Doing this has also had a major unexpected benefit..... Like most, I hated losing. Now I'm not concerned about it. I have enough confidence in my rules, and their consistency that I just allocate my 'average' return (to clarify, I allocate 1/2 my average return for the reasons mentioned above) to each trade. I don't care if it wins, loses or breaks even. I just view each trade as an 'average winner' and move on to the next one. I will continue to do this and review them in 100 trade lots, then reassess as necessary and recalculate my 'average' result if required. As long as it remains positive, I'll be happy.

Finally, don't underestimate money management. If in doubt, find Damian's posts and videos about it. He has also shared a very useful spreadsheet for managing this aspect of trading.

I still have a long way to go, but I am now confident I can meet my goals. It would be great to see Damian post here again, but if he decides not to then I fully understand and respect his decision. I hope he's enjoying life and takes comfort in the fact there are probably many like me who have been silent beneficiaries of his knowledge and truly appreciate his efforts over the years.

Damian - thank you. As someone who has spent their career in aviation, I'd like to drop this (plagiarised) quote into your thread - "When in doubt, hold your altitude; nobody ever collided with the sky!"

Finally, I'll admit that I picked my best trade of the week, but I took 114 points on the MYM last night with a 1:1 extension off a 61.8 retracement. That said, it had the smallest AB leg of this weeks trades, but the profit on this trade exceeded the largest losing trade that had a much larger AB leg. It's all about risk management & money management!

Thanks again Damian!

Great post sir

Please continue to post

Damian is a Great Bloke, who has helped lots of traders

He will be back

Regards
Aj1

Afternoon All

I can't believe this is still stuck in the commercial section

Regards
Aj1

As it probably should be... just do your research and you'll see.

Appletrader, why would you say that?
Why don't you share the results of your research because we are all wondering why it's been moved to commercial thanks.
Grtz Peter

Curious too. I can't seem to find anything.

Hey Guys! Newbie here!
can you guys tell me if this sytem is still profitable and its wirth learning?
i have watched the first two videos of Mr.pip and it seems good content but i need to be sure if it works.

Thank you!

2481 pages should tell you something. Any system is only profitable if you learn.