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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

  • #18,221
  • Mar 15, 2016 7:30am Mar 15, 2016 7:30am
1:1 long on the Dow ?

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  • #18,222
  • Edited 8:47am Mar 15, 2016 7:39am | Edited 8:47am
Hey Damian, I've been following your thread for a while as I always like to study and learn from good traders. I want to thank you very much not only for the information you are sharing here but for your willingness to help and spend a lot of time guiding traders all the way thru the learning process. It is admirable.

Did you take this trade today? Or would you take it? I attached a few shots with the managing of it. But I should have trailed the stop because as soon as I took the 45 points of profits it just went ballistic in my direction but this is trading. that stuff happens all the time.

I would appreciate your comments on the trade.
1- I entered on the test of structure between 50%-61.8%ret with upside rotation.
2- Move stop to b/e at test of structure.
3- Locked in some points when price pierced structure.
4- Locked some more after that bull candle.
5- Took 45 points of profit shy of 127 ext and 1.1 expectation.

Thanks a lot again and I hope we can be in touch.

Matias
PS: I wish I could be more active on the thread but I'm working a lot currently and I can berely have time to see the charts some days.
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  • #18,223
  • Mar 15, 2016 8:22am Mar 15, 2016 8:22am
Took a SPY option trade today however I got out early with a small profit due to not liking the price action.

Reasons I took trade:

- NSH
- Pullback to 61.8
- Very slow descent by bears to the 61.8
- Bull momentum on the prior upswing

Entry is in circle.

I think the better trade would have been to short that NSH as it was the prior day's low / structure.

Anyone have any insight?

And did I draw my supply zone correctly?

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  • #18,224
  • Mar 15, 2016 8:26am Mar 15, 2016 8:26am
Quoting jmezz
Took a SPY option trade today however I got out early with a small profit due to not liking the price action. Reasons I took trade: - NSH - Pullback to 61.8 - Very slow descent by bears to the 61.8 - Bull momentum on the prior upswing Entry is in circle. I think the better trade would have been to short that NSH as it was the prior day's low / structure. Anyone have any insight? And did I draw my supply zone correctly? {image}
short term orderflow looks fine personally I would ditch the supply zone as markets love to fill gaps my target would be 202.7 with a trailing stop..good luck
  • #18,225
  • Mar 15, 2016 8:42am Mar 15, 2016 8:42am
+58 ticks for the day. Hope you all caught that up move today!
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  • #18,226
  • Mar 15, 2016 8:57am Mar 15, 2016 8:57am
For those of you who trade the YM regularly, what would you say is your average drawdown in ticks?
  • #18,227
  • Mar 15, 2016 9:06am Mar 15, 2016 9:06am
Quoting Ren1058
{quote} short term orderflow looks fine personally I would ditch the supply zone as markets love to fill gaps my target would be 202.7 with a trailing stop..good luck
Essentially my plan was to ride the short term orderflow up into the 61.8-78.6 zone and then look for a short there. I am a really big fan of that zone and am thinking of limiting my trades strictly to that area as it allows you to keep a tight stop and I believe that it's a high probability area for reversal. Even more so when you get a measured move into the zone.

For whatever reason TOS skews trendlines that extend further than current price action when you use tick charts, so the yellow trendline into the 61.8 is not mirrored how it should be, which is to be a harmonic projection of yesterday's low to yesterday's high.

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  • #18,228
  • Mar 15, 2016 10:56am Mar 15, 2016 10:56am
Quoting jmezz
For those of you who trade the YM regularly, what would you say is your average drawdown in ticks?
I used to not have a SL larger than 20 ticks.

However i changed that after watching Mr Pip.

I now dont have SL larger than 40 ticks.

But average in drawdown is hard to say.

I have noticed winning trades usually go in my direction without much drawdown.

But every trade is different and sometimes they need room if i got into a trade too early.
  • #18,229
  • Mar 15, 2016 12:55pm Mar 15, 2016 12:55pm
Quoting Matiasfx
Hey Damian, I've been following your thread for a while as I always like to study and learn from good traders. I want to thank you very much not only for the information you are sharing here but for your willingness to help and spend a lot of time guiding traders all the way thru the learning process. It is admirable. Did you take this trade today? Or would you take it? I attached a few shots with the managing of it. But I should have trailed the stop because as soon as I took the 45 points of profits it just went ballistic in my direction but this...
Beautiful work very nice!!
If you fail to plan, you plan to fail.
  • #18,230
  • Mar 15, 2016 12:57pm Mar 15, 2016 12:57pm
Quoting lKeithStone
{quote} Great video Mr. Pip! I noticed in your video that when you selected your chart properties your "Display Update Interval" is set to 0.5. Did you know you can set that to 0.1? I was on felixcattus (http://www.forexfactory.com/felixcattus) thread earlier and he said it made a pretty big difference. Although he does scalp off the 1 minute charts so it's a little more necessary for him. Heck a little faster data speed can't hurt. Thought I would share that with you. {image} {image}
Thank you I will make the adjustment!
If you fail to plan, you plan to fail.
  • #18,231
  • Mar 15, 2016 1:00pm Mar 15, 2016 1:00pm
Quoting Ren1058
{quote} I don't see it as an indicator its more of a measuring tool...I don't need to get my fib retracement tool or ruler out so often is all
Hey Ren I don't understand how that indicator helps you not have to draw fibs also keep in mind the the Zig Zag repaints horribly. Be careful and develop good habits from the beginning remember money is at stake so lets not cut corners.
If you fail to plan, you plan to fail.
  • #18,232
  • Mar 15, 2016 1:02pm Mar 15, 2016 1:02pm
Quoting heispark
Is this valid Bat pattern? I am looking for sell opportunity at around W.pivot. NC 15M {image} (Sorry for the auto drawing. I am lazy...) EDIT: It worked. {image} {image} New Zealand dairy auction GDT price index -2.9% vs 1.4% prior
I'm sorry I got to this late. I was very busy today I did not get a chance to trade. Next time let us know what instrument and time frame so we can look at it.
If you fail to plan, you plan to fail.
  • #18,233
  • Mar 15, 2016 1:05pm Mar 15, 2016 1:05pm
Quoting jmezz
Took a SPY option trade today however I got out early with a small profit due to not liking the price action. Reasons I took trade: - NSH - Pullback to 61.8 - Very slow descent by bears to the 61.8 - Bull momentum on the prior upswing Entry is in circle. I think the better trade would have been to short that NSH as it was the prior day's low / structure. Anyone have any insight? And did I draw my supply zone correctly? {image}
Gaps really suck they tend to be very difficult as there are so many strategies out there built around them. I would not put too much faith on anything involving a gap specially that big of a gap.
If you fail to plan, you plan to fail.
  • #18,234
  • Mar 15, 2016 1:06pm Mar 15, 2016 1:06pm
Quoting SteeP7
+58 ticks for the day. Hope you all caught that up move today! {image}
Beautiful!! I missed all the fun today.
If you fail to plan, you plan to fail.
  • #18,235
  • Mar 15, 2016 1:09pm Mar 15, 2016 1:09pm
I Have been away for a couple of weeks and so much has been added to the knowledge bank.

Great videos of your trades Damian winners and losers

I am learning lots

Thanks D

Regards
Aj1
  • #18,236
  • Mar 15, 2016 1:12pm Mar 15, 2016 1:12pm
Quoting jmezz
For those of you who trade the YM regularly, what would you say is your average drawdown in ticks?
The important thing is what is yours. I see lots of traders ask these types of question and it is a really poor measure to what you want to know. Performance will very so much between traders that it becomes an inaccurate way to determine anything. Let's find out what your issues are? What is your drawdown? what is causing it? Bad stop placement? Timing is off? Not reading the chart properly? Then, once we know what the issues are we can correct those issues and this will improve the draw down situation. But you are not going to get anything of value that you can apply to your trading from other trader's draw down. Does this make sense?
If you fail to plan, you plan to fail.
  • #18,237
  • Mar 15, 2016 1:14pm Mar 15, 2016 1:14pm
Quoting jmezz
{quote} Essentially my plan was to ride the short term orderflow up into the 61.8-78.6 zone and then look for a short there. I am a really big fan of that zone and am thinking of limiting my trades strictly to that area as it allows you to keep a tight stop and I believe that it's a high probability area for reversal. Even more so when you get a measured move into the zone. For whatever reason TOS skews trendlines that extend further than current price action when you use tick charts, so the yellow trendline into the 61.8 is not mirrored how it...
The 61.8% is known as the golden ratio or mean for a reason many swing correct there at least more do then don't
If you fail to plan, you plan to fail.
  • #18,238
  • Mar 15, 2016 1:17pm Mar 15, 2016 1:17pm
Quoting Aj1
I Have been away for a couple of weeks and so much has been added to the knowledge bank. Great videos of your trades Damian winners and losers I am learning lots Thanks D Regards Aj1
Welcome AJ! As you know I am completely transparent I don't cherry pick anything. It is what separates me from the dreamers and fakers. We me you get the truth, the good, the bad and the ugly.
If you fail to plan, you plan to fail.
  • #18,239
  • Mar 15, 2016 1:23pm Mar 15, 2016 1:23pm
I'm sorry I have been a bit lost this week Traders, I've been real busy this week with family commitments and have not traded much or posted much as well. I am going to try to put together the money management video this week but don't hold your breath on that one. Be patient with me and keep perfecting your skills. Polish those crystal balls.
If you fail to plan, you plan to fail.
  • #18,240
  • Mar 15, 2016 5:24pm Mar 15, 2016 5:24pm
Quoting Mr. Pip
I'm sorry I have been a bit lost this week Traders, I've been real busy this week with family commitments and have not traded much or posted much as well. I am going to try to put together the money management video this week but don't hold your breath on that one. Be patient with me and keep perfecting your skills. Polish those crystal balls.
No apologies needed man, take your time, we all have priorities, focus of yours first, then we can go ahead. In the meantime we have a lot to focus on and practice while we wait.

Thanks
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