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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

  • #17,461
  • Feb 29, 2016 1:31am Feb 29, 2016 1:31am
Quoting ujku80
which case scenario has a better chance to happen guys? the way market is unfolding i think the golden version has higher prob...
Momentum slowing down approaching the bottom of the S/R zone, so not sure if the bears have enough will to push it further down this time... if they do, i think it will only be for a weak NSL...
  • #17,462
  • Feb 29, 2016 1:34am Feb 29, 2016 1:34am
Had another go at EJ but got very agressive on my manual trailing and got taken out at +2 pips.

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Asmodai
  • #17,463
  • Feb 29, 2016 1:35am Feb 29, 2016 1:35am
Quoting hovedguy
{quote} my money's on the yellow one
well, let's see. always keep an open mind.
  • #17,464
  • Feb 29, 2016 1:43am Feb 29, 2016 1:43am
Quoting rolandW
{quote} Momentum slowing down approaching the bottom of the S/R zone, so not sure if the bears have enough will to push it further down this time... if they do, i think it will only be for a weak NSL...
it came with strong momentum to the zone, but that level 1.0915 seems quite strong. it's holding. let's see.
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  • #17,465
  • Feb 29, 2016 1:57am Feb 29, 2016 1:57am
Hi,

This is my first attempt at Damian's method, any comments would be appreciated.

I have tried not to focus on every swing high and low here as I am more drawn to the bigger swings right now.

Thanks

Aaron
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  • #17,466
  • Feb 29, 2016 2:00am Feb 29, 2016 2:00am
I was referring to the slow down of momentum in that move - a big push of probably half the move which was very fast momentum, and then a slow down of the mometum after c. 50%, which says to me that the bears were weakening on approaching the S/R area...
  • #17,467
  • Feb 29, 2016 2:01am Feb 29, 2016 2:01am
Quoting rolandW
{quote} Momentum slowing down approaching the bottom of the S/R zone, so not sure if the bears have enough will to push it further down this time... if they do, i think it will only be for a weak NSL...
if price makes a weak NSL what does it mean to us? that it will make a deep PB.
ok, right now as I'm typing, price just broke the zone. let's see where it will stop, and reverse (PB) so maybe we could have a good entry short.
  • #17,468
  • Feb 29, 2016 2:22am Feb 29, 2016 2:22am
EURUSD Was making a new NSL at stong momentum at London open , I saw weakness in retracement and strength coming in and was taking a risky entry but with very tight SL. ( like 6 pips.) First entry was stopped out at BE + 2 pips. Took re-entry at the LH when showing strength with small SL there too. Was setting my target to 1.0925 just below last NSL and got filled . New entry again after showing weakness at new LH and was showing strength again . I was trailing aggressively this one to . Total gain was 17 pips for all 3 positions. I am happy with that for the London open session. Arrows on chart for my entries and exits and I been marking my initial SL too that was moved to BE quickly.
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Trading in the shadow of SM
  • #17,469
  • Feb 29, 2016 2:26am Feb 29, 2016 2:26am
Quoting Earleone
EURUSD Was making a new NSL at stong momentum at London open , I saw weakness in retracement and strength coming in and was taking a risky entry but with very tight SL. ( like 6 pips.) First entry was stopped out at BE + 2 pips. Took re-entry at the LH when showing strength with small SL there too. Was setting my target to 1.0925 just below last NSL and got filled . New entry again after showing weakness at new LH and was showing strength again . I was trailing aggressively this one to . Total gain was 17 pips for all 3 positions. I am happy with...
that's effective scalping. nice job.
  • #17,470
  • Feb 29, 2016 2:43am Feb 29, 2016 2:43am
Quoting ujku80
{quote} that's effective scalping. nice job.
Thank you .
Trading in the shadow of SM
  • #17,471
  • Feb 29, 2016 3:05am Feb 29, 2016 3:05am
​Nice little structure sell for about 11 pips gain.

Just realised that this was on the 150 tick... thought it looked different to my 5 min chart on mt4 (that I trade from, analysis done in NT)

Fairly confident of NSL and on the 5 min, my areas are slightly different, and there could be about 10 more pips from it, but thought I would take the profits now. entry and exit on the candles pointed to by the blue arrows

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  • #17,472
  • Edited 5:03am Feb 29, 2016 4:25am | Edited 5:03am
YM trade (buy 16537 with SL below second structure)
regards,
cmelak
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  • #17,473
  • Feb 29, 2016 4:48am Feb 29, 2016 4:48am
Quoting Harmonic1976
{quote} Thanks for the feedback, much appreciated. Question: I'm trying to develop a trading plan but I'm not sure how to describe entry... Sure, we have expectations based on structure highs and lows..... We have expectations based on the projection and what the pullback should be.... We have expectations based on fib extensions and harmonics... We have expectations based on support/resistance..... But how do we describe entry?? What would you recommend for starting out? Should we focus on entries that pull back into support/resistance that rotate...
You could say something like

Once price make a NSH or NSL to fulfill an expectation we wait for a correction at or above the 38.2% Fibonacci Replacement and having confluence of order flow expectation, structure and ratios we look for opportunities to enter the market in line with the following expectation.

If an opportunity id identified, then we seek a bar by bar confirmation. A bar by bar confirmation occurs when the current candle is in the area of interests and makes little to no attempted to trade above or below the previous candle and closes against the preceding candle's total trading volume by at least 50%. If this is achieved we enter at next bar open.

Some thing like that would work fine write it in your own words but be specific you don't want to leave room for interpretation.
If you fail to plan, you plan to fail.
  • #17,474
  • Feb 29, 2016 4:49am Feb 29, 2016 4:49am
Quoting ykhaw
Hi mr.pip, thank you for sharing your precious knowledge with us in this thread. For me, what you're doing now is truly remarkable. Your lessons and videos do benefit me and i'm believe they too will benefit others. Hope you can keep it up. I'm also gald that there's a great community in this thread too. Thank you all for making this world a better place!
You are welcome we have the best environment and the most amazing people here that respect and help each other. I couldn't be more pleased!
If you fail to plan, you plan to fail.
  • #17,475
  • Feb 29, 2016 4:52am Feb 29, 2016 4:52am
Quoting Timwelch
3 more random trading days... 3 more random trading days WITH PROFIT! Day 1: 1 trade with 2.42:1 reward:risk Day 2: 1 trade with 3.88:1 reward:risk Day 3: 2 trades. 1 breakeven, and 1 trade with 2.09:1 reward:risk Practice, practice, practice! I'm starting to see things very clearly, indeed! Charts attached. ;-) *I don't have it displayed on the chart for the screenshots because it was too many lines, but I was incorporating Mr. Pips 38.6% fib retracement trailing stop. {image}{image}{image}
Tell me Tim, have you ever been able to process the chart or trade with such expectancy? How do you feel to know you are very close to writing chapters of your life instead of someone else?
If you fail to plan, you plan to fail.
  • #17,476
  • Feb 29, 2016 4:56am Feb 29, 2016 4:56am
Quoting tiong999
{quote} If i may to give u a light. Trading is about business, it didnt have to be an exact knowledge. In doing business, sometime we profit, but another time we lost. Still we need to work, and learn the market. In doing business, we have a spirit that a lost is a matter of time we can gain in the next trading opportunity ( U watch Mr pip live trading? he lose but, he react to the price and gain in next ) Not to much worries about good entry, but try to learn a small step. U have to know yourselves first before u get your entry time, i mean if...
Nice!
If you fail to plan, you plan to fail.
  • #17,477
  • Feb 29, 2016 4:56am Feb 29, 2016 4:56am
Quoting Trader818
Hi all, What you're doing here Damian is incredible. There are not many guys in this game with a heart as big as yours! I am so impressed with how the members here have progressed. I hope to be joining this train real soon. Aaron.
Let's go there is room for everyone!
If you fail to plan, you plan to fail.
  • #17,478
  • Feb 29, 2016 4:58am Feb 29, 2016 4:58am
Quoting Asmodai
Hi everyone Been very busy this last few days, still have to watch the last 3 videos, so i have alot of catching up to do. Here is a trade i took this morning..... EJ 5m, when price touched the blue structure zone i moved my SL to BE and set up a trailing stop of 15 pips since i had to leave my computer for a while. Got taken out at 34.7 pips profit. Here are the charts at entry and exit. {image} {image} Asmodai
Nice work!
If you fail to plan, you plan to fail.
  • #17,479
  • Feb 29, 2016 5:01am Feb 29, 2016 5:01am
Quoting Asmodai
Had another go at EJ but got very agressive on my manual trailing and got taken out at +2 pips. {image} Asmodai
Managing your trades aggressively is good but remember to give it space to move. Don't choke your trade or you will consistently find yourself trading with adverse risk reward.
If you fail to plan, you plan to fail.
  • #17,480
  • Feb 29, 2016 5:05am Feb 29, 2016 5:05am
Quoting Trader818
Hi, This is my first attempt at Damian's method, any comments would be appreciated. I have tried not to focus on every swing high and low here as I am more drawn to the bigger swings right now. Thanks Aaron {image}
Love it!!! a little polishing and BAM you are the man or woman not sure our lady friend can be awesome traders too. I'm so thrilled with everyone progress and growth.
If you fail to plan, you plan to fail.
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