and stop filled.
Ratios & Harmonics: a Different Way to Trade
- #14,682
- Nov 3, 2015 10:14am Nov 3, 2015 10:14am
- Joined Nov 2014 | Status: Trader | 1,300 Posts
and stop filled.
I'm having another go at GU:
- #14,683
- Nov 3, 2015 12:20pm Nov 3, 2015 12:20pm
- Joined Nov 2014 | Status: Trader | 1,300 Posts
{quote} It's been a tough day on EU
Hope people managed to fare better than I did today and get some pips.
Tomorrow is another day
- #14,684
- Nov 3, 2015 1:14pm Nov 3, 2015 1:14pm
- | Joined Dec 2014 | Status: Trader | 1,008 Posts
{quote} Well that went badly... my own fault as the trade broke my rules
- #14,685
- Nov 3, 2015 3:26pm Nov 3, 2015 3:26pm
- Joined Nov 2014 | Status: Trader | 1,300 Posts
{quote} Ah, I just have this thing of trading against the trend, but otherwise it should have been fine. Anyway, tomorrow will definitely be a better day. good luck!
The markets have done their job today reminding me to stick to my rules
A lesson learnt... well, actually a repeat lesson
... so the day wasn't wasted - #14,686
- Nov 3, 2015 6:37pm Nov 3, 2015 6:37pm
Hey everyone,
Just popping on to update on my trade today. I have been looking at the market at night (now midnight and just about to have a look!!), noting down areas of confluence, current ABCD patterns (incomplete) etc. Basically to get an idea of where I think the market will go the following day. I draw them out on my charts then glance at them in the morning before going to work, then look for a trade at points in the day (mainly looking at charts on my phone app!!).
This seems to be working okay but it is early days. I miss a lot of opportunities as I am only looking at my charts a couple of times in a day, so timing or luck in timing is key. If, and only if, my chart is doing as I predicted then I will trade. Here is a mockup of today's chart with expectations and my trade.
I am normally looking at a 5 min chart but will flick to 15 min to see a bigger picture easier. To make the chart easier I did it all on a 15 min one. Sorry for the messyness of it all!! Anyway, a profit of 15 pips on the day so very happy with that.
Just popping on to update on my trade today. I have been looking at the market at night (now midnight and just about to have a look!!), noting down areas of confluence, current ABCD patterns (incomplete) etc. Basically to get an idea of where I think the market will go the following day. I draw them out on my charts then glance at them in the morning before going to work, then look for a trade at points in the day (mainly looking at charts on my phone app!!).
This seems to be working okay but it is early days. I miss a lot of opportunities as I am only looking at my charts a couple of times in a day, so timing or luck in timing is key. If, and only if, my chart is doing as I predicted then I will trade. Here is a mockup of today's chart with expectations and my trade.
I am normally looking at a 5 min chart but will flick to 15 min to see a bigger picture easier. To make the chart easier I did it all on a 15 min one. Sorry for the messyness of it all!! Anyway, a profit of 15 pips on the day so very happy with that.
- #14,687
- Nov 4, 2015 2:03am Nov 4, 2015 2:03am
- | Joined Dec 2014 | Status: Trader | 1,008 Posts
{quote} At least the markets have a sense of humour: {image}
anyway, market is headed south and I'm not closing it. let's see what will happen.
- #14,688
- Nov 4, 2015 2:26am Nov 4, 2015 2:26am
- | Joined Dec 2014 | Status: Trader | 1,008 Posts
Hey everyone, Just popping on to update on my trade today. I have been looking at the market at night (now midnight and just about to have a look!!), noting down areas of confluence, current ABCD patterns (incomplete) etc. Basically to get an idea of where I think the market will go the following day. I draw them out on my charts then glance at them in the morning before going to work, then look for a trade at points in the day (mainly looking at charts on my phone app!!). This seems to be working okay but it is early days. I miss a lot of opportunities...
)) 
Green pips to you!
- #14,689
- Edited 3:06am Nov 4, 2015 2:53am | Edited 3:06am
- | Joined Dec 2014 | Status: Trader | 1,008 Posts
- #14,693
- Nov 4, 2015 9:27am Nov 4, 2015 9:27am
- Joined Nov 2014 | Status: Trader | 1,300 Posts
Nice trading guys 
Nothing has really caught my eye today, except a short on EU which I didn't take because it was 5 mins before high impact news. It would have turned out nice, but that would have been gambling.
Nothing has really caught my eye today, except a short on EU which I didn't take because it was 5 mins before high impact news. It would have turned out nice, but that would have been gambling.
- #14,694
- Nov 4, 2015 9:34am Nov 4, 2015 9:34am
- Joined Nov 2014 | Status: Trader | 1,300 Posts
Nothing has really caught my eye today
- #14,695
- Nov 4, 2015 5:48pm Nov 4, 2015 5:48pm
{quote} Amazing analysis. I also have the problem that I want the market to be in a certain place, (f.ex retrace at least 50%) or I will not enter...when it's clearly that the market is behaving the way it is supposed to and u simply have to just pull the trigger. This is thinking and not acting. On the other hand, you also need to be trading the market for a couple of hours at least, without doing anything else or you will either miss opportunities or will get retail prices...But you're an experience trader now. I've seen how much u've grown since...
and stopped with + 30 pips. well, good enough. I gave 13 pips to the market, which is what happens when you're too greedy. And that's it for today. let's wish for better trades tomorrow. GL to all.
{quote} Well, spoke to soon. Short just turned up on GU: {image}
I am looking at this for tomorrow although I am looking for a higher retracement (1.5400-10) before it will drop. Then we could look to see price go to 1.5340. Either that or a range day?? Will have a better idea when I get up in the morning.
- #14,696
- Nov 4, 2015 6:02pm Nov 4, 2015 6:02pm
Okay, as promised earlier here is my update on the days 2 trades.
Point A - This is last night when I reviewed and thought of 2 possibilities (up or down). No really, that's what I thought but with more detail. Either an ABCD to the upside (orange arrows) or a double top before heading down (green arrows). The later was my more probable option but as always was going to wait to see what the market did to tell me what to do.
Point B - This is the morning, just in work, and seeing the double top and strong reaction to that area confirming the short. Traded and got to about 10 pips to the good before news spiked and took out my stops for -15 pips.
I was on and off at this point and trying to look at the chart as much as I could. Despite the spike my expectations were still the same. This lead me into my next short. The news spike still had price in the "double top" zone, and confirmation came (approx 30 mins after news so happy the effect of that had dispersed).
Went short, with SL just above the news spike (about 20 pips) and my TP at 50 pips, which was near a previous low, but about 15 pips inside. Mainly as I was not watching the trade too much and didn't want to miss the exit. So TP was hit a +50 pips, +35 on the day.
Finding this trading is working okay so far, having a clear expectation on what price should do based on my reading of the charts and only trading if I a) see price hit my expectations; b) get to my chart at or around the right time; c) I get the right bar-by-bar signal.
Here's to more green pips!!
Point A - This is last night when I reviewed and thought of 2 possibilities (up or down
). No really, that's what I thought but with more detail. Either an ABCD to the upside (orange arrows) or a double top before heading down (green arrows). The later was my more probable option but as always was going to wait to see what the market did to tell me what to do.Point B - This is the morning, just in work, and seeing the double top and strong reaction to that area confirming the short. Traded and got to about 10 pips to the good before news spiked and took out my stops for -15 pips.
I was on and off at this point and trying to look at the chart as much as I could. Despite the spike my expectations were still the same. This lead me into my next short. The news spike still had price in the "double top" zone, and confirmation came (approx 30 mins after news so happy the effect of that had dispersed).
Went short, with SL just above the news spike (about 20 pips) and my TP at 50 pips, which was near a previous low, but about 15 pips inside. Mainly as I was not watching the trade too much and didn't want to miss the exit. So TP was hit a +50 pips, +35 on the day.
Finding this trading is working okay so far, having a clear expectation on what price should do based on my reading of the charts and only trading if I a) see price hit my expectations; b) get to my chart at or around the right time; c) I get the right bar-by-bar signal.
Here's to more green pips!!
- #14,697
- Nov 5, 2015 7:28am Nov 5, 2015 7:28am
- Joined Nov 2014 | Status: Trader | 1,300 Posts
Yeah I am looking at this now, looks like price is around your entry still, dropped about 20 pips from when you posted before coming back up, did you TP? I am looking at this for tomorrow although I am looking for a higher retracement (1.5400-10) before it will drop. Then we could look to see price go to 1.5340. Either that or a range day?? Will have a better idea when I get up in the morning.
I managed to add to the position this morning at a better price.
Exited both positions for a nice profit, but nowhere near what was on the table. I'm happy though, so all is good
Here is the second entry this morning:
And the exit (news driven. I'm sure there is some harmonics I could draw in there to show the eventual turning points... but they weren't used). The scale is necessary to show the magnitude of the move!
I was sorely tempted to re-enter short on 2 more occasions, but figured I wouldn't push my luck (so to speak).
- #14,698
- Nov 5, 2015 7:53am Nov 5, 2015 7:53am
- | Joined Dec 2013 | Status: Trader | 1,118 Posts
{quote} Price ended up ranging in a channel and I elected to hold the position over the Asian session (unusual for me, but I felt sufficiently confident to do so). I managed to add to the position this morning at a better price. Exited both positions for a nice profit, but nowhere near what was on the table. I'm happy though, so all is good
nice job.
- #14,699
- Nov 5, 2015 7:55am Nov 5, 2015 7:55am
- | Joined Dec 2014 | Status: Trader | 1,008 Posts
Okay, as promised earlier here is my update on the days 2 trades. Point A - This is last night when I reviewed and thought of 2 possibilities (up or down
Anyway, looking at how you handled your situation there one can see that you are in control of your emotions, staying cool and calm just like a pro. Congrats for that pal! It a great encouragement for beginners like me to know that others before have succeeded. In addition, you also show an example of a good trade which I wouldn't have taken as I would have been emotionally destroyed by the previous loss. So, thank you for that.
here is my trade today. just opened my PC, saw this and entered. it's probably premature but let's see how it goes. not risking more than 7 pips though.
- #14,700
- Nov 5, 2015 8:00am Nov 5, 2015 8:00am
- | Joined Dec 2014 | Status: Trader | 1,008 Posts
{quote} Price ended up ranging in a channel and I elected to hold the position over the Asian session (unusual for me, but I felt sufficiently confident to do so). I managed to add to the position this morning at a better price. Exited both positions for a nice profit, but nowhere near what was on the table. I'm happy though, so all is good
no words; just action (and money in the bank).