Ratios & Harmonics: a Different Way to Trade | Page 311 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

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

Learning to trade with harmonics 11 replies

Time for Change - Pivots & Harmonics to freedom 67 replies

180 reasons to trade Harmonics and Patterns 13 replies

Group Trading based on Elliott wave and Harmonics 0 replies

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

Ratios & Harmonics: a Different Way to Trade

  • #6,201
  • Dec 17, 2013 9:46am Dec 17, 2013 9:46am
Hi all traders,
Just got out of EURUSD trade, had entered because saw the decreasing momentum of Bulls, waited for confirmation till 1.3760 and took trade. Closed at formation of ABCD.

It is possibly a Gartley as well, waiting for price to confirm up move to enter long for the pair...

today 30 pips on the bag...
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd.png Size: 41 KB
  • #6,202
  • Dec 17, 2013 9:54am Dec 17, 2013 9:54am
Quoting Prabesh
Hi all traders, Just got out of EURUSD trade, had entered because saw the decreasing momentum of Bulls, waited for confirmation till 1.3760 and took trade. Closed at formation of ABCD. It is possibly a Gartley as well, waiting for price to confirm up move to enter long for the pair... today 30 pips on the bag... {image}
Hadn't noticed the Gartley, good eye!

I'm expecting to go long as well. Will add my first soldier around 1.3715 and the second at 1.3708 if price falls to those levels. Nice harmonic moves to the blue rectangle.

Attached Image (click to enlarge)
Click to Enlarge Name: eurusd-a.png Size: 53 KB
Best time to plant a tree was 20 years ago, second best is now
  • #6,203
  • Dec 17, 2013 10:03am Dec 17, 2013 10:03am
Hi folks, I just wanted to share with ya all my struggles with trading and what NOT to do!!!
I'm not a very disciplined trader. I do well for awhile then I ROUGE out. Emotionally I won't accept ,I was wrong with an expectation.
So this is usually how it palys out:
1) Enter a trade with an expectation & confluence
2) Trades goes in my favor alittle
3) Trade now reverses and doesn't complete my next expectation
4) Now price is against me & I won't accept the loss ( This is when I start to ROUGE)
5) Start HOPE Trading it will come back to breakeven ( sometimes it does then I want alittle profit {greed})
6) Now price is where I know it shouldn't be trading but still holding a loss
7) Now in full ROUGE mindset of F**K IT Attitude!!
8) I let the loss run
9) No longer have any expectations & not staying ahead of price
10) Finally after some pain I accept and close the trade. Usually like 15-20 pips loss. When I knew i was wrong 4-6 pip loss.
11) Upset with the out come( all my fault) I'm ready to REVENGE TRADE
12) looking for any Setup; Not waiting; just looking for a swing of some type
13) Take anything that looks to be a trade with REVENGE
14) Double or Triple my lots upping my leverage ( Get that loss back QUICK Attitude)
15) Repeat steps 2-14
I am my worst enemy!!! Here are a couple pics of the damage I can to do in a state of ROUGE. Hope this is a lesson for all on WHAT NOT TO DO !!!!!!!!!!
This is a live 1k account down almost 36% form the high. The spreadsheet is divided by 10 to account for a 1k account.
Psychologically hard to get up and dust off!! and keep going!
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 1217130953.jpg Size: 546 KB
Click to Enlarge Name: 1217130949.jpg Size: 459 KB
  • #6,204
  • Dec 17, 2013 10:16am Dec 17, 2013 10:16am
Quoting horuxito
{quote} Hadn't noticed the Gartley, good eye! I'm expecting to go long as well. Will add my first soldier around 1.3715 and the second at 1.3708 if price falls to those levels. Nice harmonic moves to the blue rectangle. {image}
Thanks.

I want to enter right now but the momentum is not quite what i hoped for...
  • #6,205
  • Dec 17, 2013 10:20am Dec 17, 2013 10:20am
Quoting 76bronco
Hi folks, I just wanted to share with ya all my struggles with trading and what NOT to do!!! I'm not a very disciplined trader. I do well for awhile then I ROUGE out. Emotionally I won't accept ,I was wrong with an expectation. So this is usually how it palys out: 1) Enter a trade with an expectation & confluence 2) Trades goes in my favor alittle 3) Trade now reverses and doesn't complete my next expectation 4) Now price is against me & I won't accept the loss ( This is when I start to ROUGE) 5) Start HOPE Trading it will come back to breakeven...
I am/was also on the same goat. But do not worry. Read this thread carefully. Take you time. Watch videos by Mr. Pip. Surf this thread everyday. Notice the images of trade posted on this thread and notice what, where, why & how we are entering trades. Download all videos by Mr. Pip from youtube and watch videos again and again. THIS WILL TAKE TIME TO UNDERSTAND. Because this is not an indicator based strategy that says MA crossed !! yepieee buy...MA crossed !! yepieee sell. This is a strategy about understanding specific areas where the price reverses. This is about tracing why, when, how, the price is reversing in specific patterns and ratios with helping fib. Give at least 2 -3 weeks for this strategy.
-milkeyway
  • #6,206
  • Dec 17, 2013 10:20am Dec 17, 2013 10:20am
Quoting 76bronco
Hi folks, I just wanted to share with ya all my struggles with trading and what NOT to do!!! I'm not a very disciplined trader. I do well for awhile then I ROUGE out. Emotionally I won't accept ,I was wrong with an expectation. So this is usually how it palys out: 1) Enter a trade with an expectation & confluence 2) Trades goes in my favor alittle 3) Trade now reverses and doesn't complete my next expectation 4) Now price is against me & I won't accept the loss ( This is when I start to ROUGE) 5) Start HOPE Trading it will come back to breakeven...

Hi Bronco
By stating your problems you are half way there for a solution.Most folks can't even understand the problem sort of like alcoholic.
When you are wrong and trade was a loss then stop and don't trade that day or next.This takes away the revenge factor and also clears your head.
Remember you are drop in the ocean and you can't beat the market.Your strategy should be like this article (http://www.learntotradethemarket.com/forex-articles/what-crocodiles-can-teach-you-about-forex-trading)
I read numerous books on trading and none summarizes trading as this article from perspective of a hunter.Don't chase small fish.Wait for great opportunity.
Invest time educating yourself on trade psychology good place to start is "Trading in the Zone"
REgards
In trading, you have to be defensive and aggressive at the same time
  • #6,207
  • Dec 17, 2013 10:23am Dec 17, 2013 10:23am
Quoting 76bronco
Hi folks, I just wanted to share with ya all my struggles with trading and what NOT to do!!! I'm not a very disciplined trader. I do well for awhile then I ROUGE out. Emotionally I won't accept ,I was wrong with an expectation. So this is usually how it palys out: 1) Enter a trade with an expectation & confluence 2) Trades goes in my favor alittle 3) Trade now reverses and doesn't complete my next expectation 4) Now price is against me & I won't accept the loss ( This is when I start to ROUGE) 5) Start HOPE Trading it will come back to breakeven...

Thanks for sharing man. Trust me, those steps are some we all can relate to. I have lived them in my own flesh time after time as well. I think that now that I have returned to harmonics I will be able to improve my discipline, patience and price reading. It's a hard road. But nobody said it was easy to become one of the 5% gang.
Best time to plant a tree was 20 years ago, second best is now
  • #6,208
  • Dec 17, 2013 10:23am Dec 17, 2013 10:23am
Thanks Kumaramy Davit & Horuxito
  • #6,209
  • Dec 17, 2013 10:24am Dec 17, 2013 10:24am
Quoting Davit
{quote} Hi Bronco By stating your problems you are half way there for a solution.Most folks can't even understand the problem sort of like alcoholic. When you are wrong and trade was a loss then stop and don't trade that day or next.This takes away the revenge factor and also clears your head. Remember you are drop in the ocean and you can't beat the market.Your strategy should be like this article (http://www.learntotradethemarket.com/forex-articles/what-crocodiles-can-teach-you-about-forex-trading) I read numerous books on trading and...
I second you.

Thx for the article too, will check.
Best time to plant a tree was 20 years ago, second best is now
  • #6,210
  • Dec 17, 2013 10:29am Dec 17, 2013 10:29am
Hello ! This thread is amazing. I enjoy reading it. I just start reading this thread, I had couple of books before, but this thread is gold. Thank you, that you Mr. Pip and members of this thread for all the work you did.

I doing first steps with harmonics, I am starting with ABCD. I had 2 trades M15 this week, one is still running on EU, I moved my SL to BE, so it is no loss granted. I will post it later.
The first one was EA this monday M15, I choose M15 because it is where I trade. So, any way I had this trade. It worked well, I had 50 pips.
Can you take a look, If everything is right, it was my first trade with harmonics.
Thank you !
Best Regards !
Attached Image (click to enlarge)
Click to Enlarge Name: euraudm15.png Size: 75 KB
Even though I walk through the darkest valley, I will fear no evil
  • #6,211
  • Dec 17, 2013 10:31am Dec 17, 2013 10:31am
Quoting 76bronco
Hi folks, I just wanted to share with ya all my struggles with trading and what NOT to do!!! I'm not a very disciplined trader. I do well for awhile then I ROUGE out. Emotionally I won't accept ,I was wrong with an expectation. So this is usually how it palys out: 1) Enter a trade with an expectation & confluence 2) Trades goes in my favor alittle 3) Trade now reverses and doesn't complete my next expectation 4) Now price is against me & I won't accept the loss ( This is when I start to ROUGE) 5) Start HOPE Trading it will come back to breakeven...
Hey Bronco,
Don't be so hard on yourself. If this was easy everyone would be doing it and I'd see many more trades placed on here . I hear you about emotion. One thing I would check on (this was freaking crucial to my previous plateau) is that you really do have the expectations based on reading down. I have the fear of being wrong curse. This affects taking profit early and rarely letting a loss hit my full stop.

I only say this as I thought it was my emotions that were a mess when it was really my not knowing how to use expectation properly for both entry and management. If you've got this down ignore my comment.

Reading Think and Grow Rich really helped me brainwash myself into getting this far. There is a special self confidence think you read every night before you go to bed to basically focus your brain on smashing what ever obstacle you are having problems with. I'm a physicist and am totally down with the mental aspect with success even though there is no studies that can prove disprove the results. Why? Because it freakin works! I've studied with quite a few mentors who are great in business, invention, guitar, trading etc. They all say similar things. This may help control you going rogue as this is currently the obstacle holding you back.

Having said that TAGR was written early last century so you will have to keep from taking stuff too literal. He gets freaky with the "cosmic consciousness" stuff near the end. Remember not to throw out the baby with the bathwater in this case. Ignore the hokey stuff and focus on training your mind as this is primarily a mental game.

Hope this helps a bit. The most important weapon you have here is yourself. Ignore the forum if you feel you are not doing as well as others, or if you find it inspiring focus on how we can all be better. But first and foremost protect yourself and keep from being self destructive by whatever means necessary. We're pulling for you and you will master this. If you've committed fully it is just a matter of time. Literally nothing can stop you.
Finally out of the shadows.
  • #6,212
  • Dec 17, 2013 10:33am Dec 17, 2013 10:33am
Ok my last trade for the day. Target reached so see you soon. Happy trading.
Attached Image (click to enlarge)
Click to Enlarge Name: $EURUSD (233 Tick) 17_12_2013.jpg Size: 90 KB
Finally out of the shadows.
  • #6,213
  • Dec 17, 2013 10:39am Dec 17, 2013 10:39am
Hi ! I took this Aggresive C long on Eur Usd with orderflow I hope.
Let`s role the game ! Thanks Mr. Pip !
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDM30 Aggr. C Long.png Size: 43 KB
  • #6,214
  • Dec 17, 2013 10:41am Dec 17, 2013 10:41am
Quoting gaf
{quote} Hey Bronco, Don't be so hard on yourself. If this was easy everyone would be doing it and I'd see many more trades placed on here . I hear you about emotion. One thing I would check on (this was freaking crucial to my previous plateau) is that you really do have the expectations based on reading down. I have the fear of being wrong curse. This affects taking profit early and rarely letting a loss hit my full stop. I only say this as I thought it was my emotions that were a mess when it was really my not knowing how to use expectation properly...
Thanks , bro
  • #6,215
  • Dec 17, 2013 10:45am Dec 17, 2013 10:45am
Quoting 76bronco
Hi folks, I just wanted to share with ya all my struggles with trading and what NOT to do!!! I'm not a very disciplined trader. I do well for awhile then I ROUGE out. Emotionally I won't accept ,I was wrong with an expectation. So this is usually how it palys out: 1) Enter a trade with an expectation & confluence 2) Trades goes in my favor alittle 3) Trade now reverses and doesn't complete my next expectation 4) Now price is against me & I won't accept the loss ( This is when I start to ROUGE) 5) Start HOPE Trading it will come back to breakeven...
http://www.forexfactory.com/showthread.php?p=7128791#post7128791

This is inspiring post by Mr. Pip. Read about his past. It was same as yours. But today if you watch videos of Mr. Pip, you can observe the accuracy of this strategy and you will understand the real power of this strategy.

This is free version of Harmonic book by Mr. Scott. Read it carefully.
Attached File(s)
File Type: pdf harmonics.pdf   2.7 MB | 526 downloads
-milkeyway
  • #6,216
  • Dec 17, 2013 10:48am Dec 17, 2013 10:48am
Regarding the stopping out on the earlier EU trade (obviously this is just my 2 cents):

I find moving SL to BE at 38.2 a little too inconsistent.

This is because where BE is depends on where I pulled the trigger on the trade. Sometimes very close to the swing point (if I'm confident about the PA), sometimes a little later along the slope (if I want more positive signs of the reversal etc). The fact is, somebody at my lowly level will not be consistently getting in at the wholesale prices.

So at 38.2 I tend to move SL to the swing point. A subtle difference, but enough to not get stopped out on the trade in question.
  • #6,217
  • Dec 17, 2013 10:52am Dec 17, 2013 10:52am
Quoting 76bronco
{quote} Thanks , bro

Bronco just wanted to add
Trading is like becoming an artist.I am an artist.My web site is listed on my profile.
Like Trading you must be honest what type of personality talents you have and cultivate emphasize that.For example if someone has talent to be an abstract artist one should not struggle endlessly trying to draw like a photograph or musically one should not try to learn Bach on guitar if you are going to play pop songs.
In trading you must know what TF and style that you perform best.It took me a year to know that I am not a scalper and I under perform anything less then daily chart.I prefer longer TF.
So look deep and even demo to see which TF you are best at and focus at that. Mr Pip successfully does what he does in short TF but keep in mind not everyone thinks the same way.
Do more what works and less what does not.
Regards
In trading, you have to be defensive and aggressive at the same time
  • #6,218
  • Dec 17, 2013 10:53am Dec 17, 2013 10:53am
Quoting kumaramy
{quote} http://www.forexfactory.com/showthread.php?p=7128791#post7128791 This is inspiring post by Mr. Pip. Read about his past. It was same as yours. But today if you watch videos of Mr. Pip, you can observe the accuracy of this strategy and you will understand the real power of this strategy. This is free version of Harmonic book by Mr. Scott. Read it carefully. {image}
Thanks, Good quote by Mr. Pip ; and for the PDF Book. I downloaded and will read.
  • #6,219
  • Dec 17, 2013 10:53am Dec 17, 2013 10:53am
Quoting itinerant
Regarding the stopping out on the earlier EU trade (obviously this is just my 2 cents): I find moving SL to BE at 38.2 a little too inconsistent. This is because where BE is depends on where I pulled the trigger on the trade. Sometimes very close to the swing point (if I'm confident about the PA), sometimes a little later along the slope (if I want more positive signs of the reversal etc). The fact is, somebody at my lowly level will not be consistently getting in at the wholesale prices. So at 38.2 I tend to move SL to the swing point. A subtle...
Nods I understand that. How did you read the short term orderflow there? Did you read it differently to me? Or if you did did you just hold longer than I did. At the time I'm not sure if I even looked at the 38%. I was expecting a shallow pullback which I got on strength so I pulled the stop and got faked out. I'm going to modify my plan to suit these issues. Thanks to everyone who replied. Cheers.
Finally out of the shadows.
  • #6,220
  • Dec 17, 2013 10:55am Dec 17, 2013 10:55am
Quoting Davit
{quote} Bronco just wanted to add Trading is like becoming an artist.I am an artist.My web site is listed on my profile. Like Trading you must be honest what type of personality talents you have and cultivate emphasize that.For example if someone has talent to be an abstract artist one should not struggle endlessly trying to draw like a photograph or musically one should not try to learn Bach on guitar if you are going to play pop songs. In trading you must know what TF and style that you perform best.It took me a year to know that I am not a scalper...
Never thought that way, Thanks
5 traders viewing now