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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

  • #14,621
  • Oct 23, 2015 12:45pm Oct 23, 2015 12:45pm
Quoting honestknave
{quote} Good question. I decided to start keeping an eye on the stats more last week: {image}
impressive results. Keep up the good work. truly amazing. Good luck for the rest of the month, year, ...life hehe.

Ah, yeah, the price is right there, at the zone. Let's see what will happen. PA doesn't indicate any move north just yet.
  • #14,622
  • Oct 23, 2015 12:51pm Oct 23, 2015 12:51pm
Quoting honestknave
Well, got to get out the gates at some point I suppose. Short on GU. Very tight leash, will be SL to BE ASAP. Good R:R but a little late in the day/week for my liking. {image}
Out for +27 pips.
Not sure if price is going to challenge that HTF fib, but I'll take what's on the table now.
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  • #14,623
  • Oct 23, 2015 12:52pm Oct 23, 2015 12:52pm
Quoting ujku80
{quote} impressive results. Keep up the good work. truly amazing. Good luck for the rest of the month, year, ...life hehe. Ah, yeah, the price is right there, at the zone. Let's see what will happen. PA doesn't indicate any move north just yet.
Thanks But those stats look better than they really are - there are a lot of BE trades in there that get counted as wins because they close a fraction of a pip positive.

And likewise, best of luck for your trading Your analysis seems spot on
  • #14,624
  • Oct 23, 2015 1:00pm Oct 23, 2015 1:00pm
Quoting honestknave
{quote} Out for +27 pips. Not sure if price is going to challenge that HTF fib, but I'll take what's on the table now. {image}


Quoting honestknave
{quote}Thanks But those stats look better than they really are - there are a lot of BE trades in there that get counted as wins because they close a fraction of a pip positive.
true. "There are lies, there are damn lies, and there are statistics!"
  • #14,625
  • Oct 23, 2015 1:19pm Oct 23, 2015 1:19pm
Quoting honestknave
{quote} Well Arjan, price has made it. How big is the bounce going to be? Can't help but feel there's going to be some profit taking going on at the RN / end of the week, which should cause some sort of bounce {image}
Price now taking a round shape, like a round bottom. I've noticed that this usually indicates a change in direction. but, as Mr.Pip says, price doesn't like PRZ. It should move fairly quickly away from it, and right now it's been hanging around that area for quite some time.
It's fun to have someone share my thoughts with. thanks for listening bro. much appreciated. and thanks for those good words.
  • #14,626
  • Oct 23, 2015 1:34pm Oct 23, 2015 1:34pm
ok, I entered. being a chicken shit that i am, i placed a stop buy just above the long wick middle close candle (in the middle of the groups of candles touching 1.1000 level). right now i'm in profit. Let's hope for the best.
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  • #14,627
  • Oct 23, 2015 1:50pm Oct 23, 2015 1:50pm
thinking process:
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  • #14,628
  • Oct 23, 2015 2:36pm Oct 23, 2015 2:36pm
and stopped out! yeah, that's what happens when you go against trend. NO MORE!!! that was the LAST time for ME!!! Period! Now looking forward next week. More fun awaiting, hehe.

cheers and green pips to all

and good night
  • #14,629
  • Oct 23, 2015 2:42pm Oct 23, 2015 2:42pm
Quoting ujku80
"There are lies, there are damn lies, and there are statistics!"
Too true!
Quoting ujku80
It's fun to have someone share my thoughts with. thanks for listening bro. much appreciated. and thanks for those good words.
Likewise - trading can be a very solitary pastime and it's always good to have like-minded people to bounce thoughts and ideas off
Quoting ujku80
and stopped out! yeah, that's what happens when you go against trend. NO MORE!!! that was the LAST time for ME!!! Period! Now looking forward next week. More fun awaiting, hehe. cheers and green pips to all and good night
Too bad she did run into profit for a bit though (until price bumped into Monthly Support) so the call wasn't bad; you always knew it carried the counter-trend risk.

Have a good weekend - not sure I'll be about next week so wishing good trading to all in advance
  • #14,630
  • Oct 23, 2015 3:35pm Oct 23, 2015 3:35pm
Quoting honestknave
{quote} Have a good weekend - not sure I'll be about next week so wishing good trading to all in advance
You have a good weekend too. If I don't see you next week, then happy trading and all the best.

cheers mate.
  • #14,631
  • Edited 4:09am Oct 27, 2015 3:12am | Edited 4:09am
Morning traders. soon London open, and i just placed a trade (see image below). It might be a bit too early, but let's see.
I had one trade yesterday, after 8 pm, Oslo time. Had some problem with the NinjaTrader and had to close it with a little loss (somehow my stop loss and TP were gone, and I couldn't fix it). Since the last week, I'm in a draw-down, about 25 pips (+ commissions). So, let's see if I'll make this money today.

Back to the trade that I placed. Reasons are:

1. We have harmonics AB=CD completed at an important level (previous NSL) where market is testing the recent low.
2. This level corresponds with a 50% retracement of the previous major swing (see the image).
3. Market is showing weakness in the level. And that can be seen by observing the swings (small swings) on the way to that level. One may see that the price is having trouble going higher. Momentum was slowing down (in other words, market was making new highs at a very short distance from the previous ones)
4. RN 1.1070 (although I don't place so much importance on the RNs, but for the record, it might add some confluence to our trade).

that's for now. I might be a bit too busy to place more trades today, so this could be the only trade. From tomorrow and the rest of the week I'm away so, wont be trading this week.

I know that many traders are worried so much about the win/loss ratio. To me the results of a single trade are not important. Win/loss ratio has not such an important meaning as long as I win more than I lose. There is a target which I aim and use as a goal for my trading life. And that is smth I wanted to share with you.

I want 70% of the days to be profitable; 90% of the weeks, and 100% of the month.

This is my goal. I'm working to reach that. This idea is not originally mine if you ask. I got it from the YTC book of Lance Beggs and he got it from another one which I don't recall now. So, don't focus so much on the outcome of a single trade . Rather try to focus on the long-term results.

cheers and happy trading
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  • #14,632
  • Oct 27, 2015 3:43am Oct 27, 2015 3:43am
update (thinking process now after the trade is placed)
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  • #14,633
  • Oct 27, 2015 4:05am Oct 27, 2015 4:05am
update
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  • #14,634
  • Oct 27, 2015 4:28am Oct 27, 2015 4:28am
Quoting honestknave
{quote} Too bad she did run into profit for a bit though (until price bumped into Monthly Support) so the call wasn't bad; you always knew it carried the counter-trend risk.
One mistake that I make is that I usually place SL too tight. In that particular trade (last trade on Friday) SL was just two pips below the NSL. If it was 2 more pips below that, then I would have been in profit because that was the precise level the market turned from and started to go north. Actually, instead of loss that should have been in ca 45-50 pips profit (say 30 if you put psychology on place). Anyway, this is part of the business. The most important thing is to learn from your mistake.

So, my mistake. I wont repeat it. Lesson learned!
  • #14,635
  • Oct 27, 2015 5:39am Oct 27, 2015 5:39am
trade closed at B.E. I had two indications that it was coming against me, and I still didn't act. see image below.

ok, see you next week.

cheers
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  • #14,636
  • Oct 27, 2015 1:46pm Oct 27, 2015 1:46pm
long cable 5300 see what happens

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Never said I was Batman,all I'm saying is you'll never see us together.
  • #14,637
  • Oct 27, 2015 2:07pm Oct 27, 2015 2:07pm
Quoting headfake
long cable 5300 see what happens {image}
good luck!

I'm looking at this (image below) but it's getting late and I wont place any order. I'm done for today.

btw, this is what I see short term for GU. It seems like u entered in a good spot. Sniping there.
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  • #14,638
  • Oct 27, 2015 2:32pm Oct 27, 2015 2:32pm
Quoting ujku80
{quote} good luck! I'm looking at this (image below) but it's getting late and I wont place any order. I'm done for today. btw, this is what I see short term for GU. It seems like u entered in a good spot. Sniping there. {image} {image}
cheers Yes saw a few things I like in the price action wrong time of day for cable but might drift up during asia first target 5330s, my days just started
Never said I was Batman,all I'm saying is you'll never see us together.
  • #14,639
  • Edited 11:08am Oct 28, 2015 10:37am | Edited 11:08am
Good morning.

Good to see ya around headfake, I hope the market has been treating you well.

I took this short on the EURUSD. Got in a little early but at a good price. I'm against the morning trend but in the weeks range resistance which I expect to hold. I noticed price tried to breakout and failed then pullback into the range and made a weak LL on the short term order flow and the current swing is weaker then the previous bullish swing, which was my reason for enguaging at the AGG C (61.8) & Structure.

In short , I'm expecting the structure to hold. Bears and Bulls are struggling short term . I know I have my stops at 90 but if price settles above 80's with strength or Bears start to scatter, I 'll be out

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Update: Blah, manually exited at -12 pips only to watch price turn at the short term 1 to 1. seen it but went to get a coffee. was hoping for some deceleration before pushing south.

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  • #14,640
  • Oct 29, 2015 1:44am Oct 29, 2015 1:44am
Quoting Mack2013
Good morning. Good to see ya around headfake, I hope the market has been treating you well. I took this short on the EURUSD. Got in a little early but at a good price. I'm against the morning trend but in the weeks range resistance which I expect to hold. I noticed price tried to breakout and failed then pullback into the range and made a weak LL on the short term order flow and the current swing is weaker then the previous bullish swing, which was my reason for enguaging at the AGG C (61.8) & Structure. In short , I'm expecting the structure to...
hey Mack things are great thanks hows your trading going ?
Never said I was Batman,all I'm saying is you'll never see us together.
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