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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

  • #17,761
  • Mar 3, 2016 9:58am Mar 3, 2016 9:58am
again, entered late but expectation is for NSH... hopefully
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  • #17,762
  • Mar 3, 2016 10:01am Mar 3, 2016 10:01am
Quoting ujku80
again, entered late but expectation is for NSH... hopefully {image}
yes yes yes.... go euro bulls..... buy euros buy reducing a bit my risk...
  • #17,763
  • Mar 3, 2016 10:10am Mar 3, 2016 10:10am
Quoting ujku80
{quote} do you think expectation is still for a NSL? in short term we have a NSH right?
Sorry no got stopped out of the short price has made 2 NSH I got long at 16852 up 5 points
If you fail to plan, you plan to fail.
  • #17,764
  • Mar 3, 2016 10:11am Mar 3, 2016 10:11am
Quoting ujku80
{quote} yes yes yes.... go euro bulls..... buy euros buy reducing a bit my risk...
market testing NSH, moved my Sl to BE.
  • #17,765
  • Mar 3, 2016 10:13am Mar 3, 2016 10:13am
Quoting Mr. Pip
{quote} Sorry no got stopped out of the short price has made 2 NSH I got long at 16852 up 5 points
yeah, that's what i thought... i just wanted to have a confirmation from you. thx
  • #17,766
  • Mar 3, 2016 10:14am Mar 3, 2016 10:14am
Quoting ujku80
{quote} market testing NSH, moved my Sl to BE.
now trailing my SL, secured 9 pips..
and hit. probably moved it too soon... ah, when am i going learn...
  • #17,767
  • Mar 3, 2016 10:18am Mar 3, 2016 10:18am
Quoting ujku80
{quote} u're not copying my trades , are u?!
  • #17,768
  • Mar 3, 2016 10:24am Mar 3, 2016 10:24am
Quoting hovedguy
{quote}
LOL... i had entered before..not my fault..
  • #17,769
  • Mar 3, 2016 10:26am Mar 3, 2016 10:26am
Quoting ujku80
{quote} now trailing my SL, secured 9 pips.. and hit. probably moved it too soon... ah, when am i going learn...

If you are closing early its because you care too much about the outcome.....

Just set a limit on the amount you can lose for each trade.....put a stop order in.

Wait for a period of 2 to 4 wks until its near your target profit.

If you are closing too early its clear indication your lot size is too high...Hence your protection mechanism is kicking in to protect you....Its your subconscious defence called fear of loss emotion....Its not a mental effort and your brain is powerless to beat it!
  • #17,770
  • Mar 3, 2016 10:30am Mar 3, 2016 10:30am
Quoting ujku80
{quote} LOL... i had entered before..not my fault..
Hey Arjan

Have you thought of opening a journal? Good to have a record of all your trades and review later on.
  • #17,771
  • Mar 3, 2016 10:37am Mar 3, 2016 10:37am
Quoting DonFF
{quote} If you are closing early its because you care too much about the outcome..... Just set a limit on the amount you can lose for each trade.....put a stop order in. Wait for a period of 2 to 4 wks until its near your target profit. If you are closing too early its clear indication your lot size is too high...Hence your protection mechanism is kicking in to protect you....Its your subconscious defence called fear of loss emotion....Its not a mental effort and your brain is powerless to beat it!
I think you are right but...you're spot on. but it's not easy to do what you suggest though. I have to find a way to short-cut my emotion. After all I think of myself as a rational person... it shouldn't be that hard..

And yeah, I have placed a decent amount of money in my future account that allows me to trade 4 contracts at once, and that's what I'm doing...I'm trading 4 contracts at EU because I'm certain (have high win/loss ratio) and only one contract at YM cuz most of the time I loose there. but it definitely it is emotion issue cuz I've haven't traded this much before...

To make a long story short, trading is like piloting a plane. You can do as much flight simulation as you want, but the real life is different. The more flight hours you have the better pilot you become. So, I just have to trade like this and in the process, teach myself how to deal with emotions and other stuff.

oh look at that huge spike high at EU...what an idiot i am...
  • #17,772
  • Mar 3, 2016 10:38am Mar 3, 2016 10:38am
Quoting hovedguy
{quote} Hey Arjan Have you thought of opening a journal? Good to have a record of all your trades and review later on.
I have, and I save all the images of the trades that I take there. with some brief comments. I'm afraid this thread has become sort of my trading journal too
i hope you don't mind me posting trades live here.
  • #17,773
  • Mar 3, 2016 10:40am Mar 3, 2016 10:40am
Quoting ujku80
{quote} I have, and I save all the images of the trades that I take there. with some brief comments. I'm afraid this thread has become sort of my trading journal too i hope you don't mind me posting trades live here.
  • #17,774
  • Mar 3, 2016 10:42am Mar 3, 2016 10:42am
nobody should listen to me. see what a fool man i am.
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  • #17,775
  • Mar 3, 2016 10:44am Mar 3, 2016 10:44am
Quoting ujku80
{quote} I think you are right but...you're spot on. but it's not easy to do what you suggest though. I have to find a way to short-cut my emotion. After all I think of myself as a rational person... it shouldn't be that hard.. And yeah, I have placed a decent amount of money in my future account that allows me to trade 4 contracts at once, and that's what I'm doing...I'm trading 4 contracts at EU because I'm certain (have high win/loss ratio) and only one contract at YM cuz most of the time I loose there. but it definitely it is emotion...

Its Par for the course.

While learning and getting "the feel" its best to trade for pips not dollars...This will calm the emotion some what...Also to use minimum lots!

Trading is similar to a 4yr degree...You cant do in Year1 what you will only grasp fully in year4.
  • #17,776
  • Mar 3, 2016 10:51am Mar 3, 2016 10:51am
Quoting DonFF
{quote} Its Par for the course. While learning and getting "the feel" its best to trade for pips not dollars...This will calm the emotion some what...Also to use minimum lots! Trading is similar to a 4yr degree...You cant do in Year1 what you will only grasp fully in year4.
agree. the thing is that dealing with emotions cannot be learned by reading books, taking trades on demo, or talking to other professional trader such as Damian. it doesnt work like that. you simply have to fight your own demons. it's do or die, u know. And I will either do it, or i'll die trying.

my idea on YM...if price comes in the zone, i'm in (depending how it comes). if it doesnt I'm out for today...no more trading.
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  • #17,777
  • Mar 3, 2016 11:01am Mar 3, 2016 11:01am
Quoting ujku80
{quote} agree. the thing is that dealing with emotions cannot be learned by reading books, taking trades on demo, or talking to other professional trader such as Damian. it doesnt work like that. you simply have to fight your own demons. it's do or die, u know. And I will either do it, or i'll die trying. my idea on YM...if price comes in the zone, i'm in (depending how it comes). if it doesnt I'm out for today...no more trading. {image}

I agree with you.

I find it is useful to semi automate the process as much as possible in the beginning until your nerves/emotions get used to a successful approach.

By This I mean using pending orders, stop loss limit and take profit amounts. Always letting the number of trades in the day be subservient to the number of pips being targeted since big traders or market maker usually hold onto a position for days/weeks to maximize the pip rather than jumping from trade to trade for small pips. They do Minimum 30pips

So before deciding on the trade you must use an appropriate risk reward assessment of at least 1:1 (ideally 1:2 or more) in the way it is done by market makers since the goal is to follow them or lose.
  • #17,778
  • Mar 3, 2016 11:08am Mar 3, 2016 11:08am
Quoting DonFF
{quote} I agree with you. I find it is useful to semi automate the process as much as possible in the beginning until your nerves/emotions get used to a successful approach. By This I mean using pending orders, stop loss limit and take profit amounts. Always letting the number of trades in the day be subservient to the number of pips being targeted since big traders or market maker usually hold onto a position for days/weeks to maximize the pip rather than jumping from trade to trade for small pips. They do Minimum 30pips So before deciding on the...
Yes, I always put SL and TP but then I start to think....what if this and what if that....while instead i should let the market do the talk...But I don't want to leave trades opened for the next day. So, it's either a loss or a win. or BE.
  • #17,779
  • Mar 3, 2016 11:15am Mar 3, 2016 11:15am
Quoting ujku80
{quote} Yes, I always put SL and TP but then I start to think....what if this and what if that....while instead i should let the market do the talk...But I don't want to leave trades opened for the next day. So, it's either a loss or a win. or BE.
Why dont you use Mr Pips trading management as shown in the trade management video. It is mechanical and it is easyer to put the feelings away . Even if they still are there just tell that This is my trade management and how I handle. I trail / lock to BE and it is TP or trail stop.
Trading in the shadow of SM
  • #17,780
  • Mar 3, 2016 11:17am Mar 3, 2016 11:17am
Hello Mr Pip, I have finalized to see your yesterday live session. It was amazing!!!! Thank you for this incredible gift.
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