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"Ratios & Harmonics: a Different Way to Trade." Summary 37 replies

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Attachments: Ratios & Harmonics: a Different Way to Trade
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Ratios & Harmonics: a Different Way to Trade

  • #19,201
  • Apr 28, 2016 10:01am Apr 28, 2016 10:01am
Quoting Ren1058
{quote} This: {image}
Thanks for your explanation
  • #19,202
  • Apr 28, 2016 10:10am Apr 28, 2016 10:10am
Hey guys, nice to see so many good trades posted. I am alwas happy to see when a setup works out. Great job!

I must say I feel my chart reading and patience got a bit better - but my trade management (which I considered my strong point so far) seems really bad now :/. Maybe it is because my positions got a little bigger and I have to get used to it emotionally. Also I had a couple of trades where my SL got hit very narrwoly and then it moved in my direction hugely. I find it very hard to not get tilted then. This is what I am focusing on atm.

Are there any aspects of your trading that you consider yourself strong or weak in or that you are actively working on? Maybe we can share observations or get a discussion going about something many struggle with etc.
  • #19,203
  • Apr 28, 2016 10:29am Apr 28, 2016 10:29am
Quoting stavrogijn
Hey guys, nice to see so many good trades posted. I am alwas happy to see when a setup works out. Great job! I must say I feel my chart reading and patience got a bit better - but my trade management (which I considered my strong point so far) seems really bad now :/. Maybe it is because my positions got a little bigger and I have to get used to it emotionally. Also I had a couple of trades where my SL got hit very narrwoly and then it moved in my direction hugely. I find it very hard to not get tilted then. This is what I am focusing on atm. Are...
To set a setup and let it not run, this is my weak point. I end up often with scalping (so far with success, but nothe what it should be). This morning I could catch a 42 points up move on DAX (against general expectation of a NSL)
  • #19,204
  • Apr 28, 2016 11:32am Apr 28, 2016 11:32am
Good morning.

US30 has been very confusing this week. Bulls want to go higher , bears want to go lower. quit the trading range with plenty of false break outs. my expectations have been playing out but I've been unable to capitalize on them.

Currently, I'm still a little bullish but I'm aware that we are in the deep area of a correction which establish a NSH then NSL so longer term I'm thinking market will go lower.

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  • #19,205
  • Apr 28, 2016 11:40am Apr 28, 2016 11:40am
Quoting stavrogijn
Hey guys, nice to see so many good trades posted. I am alwas happy to see when a setup works out. Great job! I must say I feel my chart reading and patience got a bit better - but my trade management (which I considered my strong point so far) seems really bad now :/. Maybe it is because my positions got a little bigger and I have to get used to it emotionally. Also I had a couple of trades where my SL got hit very narrwoly and then it moved in my direction hugely. I find it very hard to not get tilted then. This is what I am focusing on atm. Are...
I'm with you on this one. Entries are descent to good but my exits are sub par (but not terrible). Trade management has been a crutch as well.

Maybe its because not all strategies work in all markets. I dont know.

I have been working on taking the stress out of the trade. Which has been going good. I dont get as angry anymore when Price goes against me upon entry. I expect it to now because most of the time it does. haha

I have been also focusing at maximizing my profit ratio. to often I take profits early or refuse to see it top. I switched my focus to just take majority of the swing instead of the top.
  • #19,206
  • Apr 28, 2016 11:43am Apr 28, 2016 11:43am
Quoting jmezz
Here's what I'm looking at with YM this morning. Overnight session 99% net short due to a news driven event causing a massive dump. A lot of times the market will return to the scene of the crime so I'm not ruling out a squeeze and test back to ~17981ish. Expectation NSL currently but not sure about pressing short. May sit the first 30mins out and just watch. {image}
Nice call. and that is why your the man!!! whoop whoop!
  • #19,207
  • Apr 28, 2016 11:50am Apr 28, 2016 11:50am
Eurusd 15m

expectation nsh

sl just below the 618 fib
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  • #19,208
  • Apr 28, 2016 12:06pm Apr 28, 2016 12:06pm
Quoting stavrogijn
Hey guys, nice to see so many good trades posted. I am alwas happy to see when a setup works out. Great job! I must say I feel my chart reading and patience got a bit better - but my trade management (which I considered my strong point so far) seems really bad now :/. Maybe it is because my positions got a little bigger and I have to get used to it emotionally. Also I had a couple of trades where my SL got hit very narrwoly and then it moved in my direction hugely. I find it very hard to not get tilted then. This is what I am focusing on atm. Are...
I think you asked before how many trades do we average per day, per hour?

I can only speak for myself but since I dont trade futures and I trade the US30 with a 144tick chart, I dont get that much information. I average maybe 1 trade a day and do about 3 to 4 hours. if I do more then 3 trades then most likely i`m over trading and theres days where I`ll miss the set up and I`m out for the day. Oh yeah , the time availible to me is mid morning to afternoon. Not the most active time either.

I tried focusing on 2 pair but the quality of my trades went down and since each beast has its own personality, I couldn`t separate em so now I just focus on one.

Your Next question is probable: So what the &%$? do you do for the rest of the 4 hours? well mostly I just turn around and stare at the wall. haha. but seriously, I listen to podcast and youtube. (sorry no bullshit like watching a retarded cat for 2 hours) I watch Mr.Pips videos again, other trading stuff, and some self enlightening stuff. and no not the stuff about how I dont really exist but more on stuff about psychology.

I also work on some other projects. anything else but intensely watching. to much focus can have negative drawbacks like impatience and anxiety.
  • #19,209
  • Apr 28, 2016 1:36pm Apr 28, 2016 1:36pm
Little Tip :

If you use Fibonacci Fan + "Normal" Fibonacci , you will get more accurate entries and be more confident to know where price will really change the direction while you trade with Harmonic Patterns.
  • #19,210
  • Apr 28, 2016 3:57pm Apr 28, 2016 3:57pm
One trade today on ES.

What I really like about what I've learned in this thread so far is that I'm eyeing trades in the direction of the trend more often. It's also a lot easier to tell which way the prices are going when you look at the NSLs and NSHs. This was always a HUGE problem for me. I always had issues taking trades thinking I was going with the trend however would then get fk'd right away.

For sure there are still times where I can't decipher what price wants to do, this is the nature of the beast imo, however price action has become a lot more clear to me. When you have expectations and let price prove you right or wrong it's a lot easier to evaluate price movement vs waiting til an indi becomes oversold or overbought then looking for entries there.

To answer stavro's post - my issues lie in not letting trades run and also not having found a good stop management. I'm either too aggressive or not aggressive enough. Also one issue that I'm finding very hard to let go of is what I *think* is going to happen. There are times after 3-4 setups where price pulls back yet again but I won't take it because I think that price already yielded a few setups in a row and there's no way that it could offer up another one. Price needs a break. The move is running out of steam at this point. Trying to remove what I think and trade what I see on the chart in front of me and just manage risk but it's a pain in the ass trying to let go of the thoughts.
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  • #19,211
  • Apr 28, 2016 4:08pm Apr 28, 2016 4:08pm
Quoting Mack2013
Good morning. US30 has been very confusing this week. Bulls want to go higher , bears want to go lower. quit the trading range with plenty of false break outs. my expectations have been playing out but I've been unable to capitalize on them. Currently, I'm still a little bullish but I'm aware that we are in the deep area of a correction which establish a NSH then NSL so longer term I'm thinking market will go lower. {image}
Crazy that this played out. I remember as price entered the 61.8, drawing the 1:1 to the downside of the large pattern and thinking, "No way does it do that." Sure enough, followed it to a T.

Quoting Mack2013
{quote} Nice call. and that is why your the man!!! whoop whoop!
Off by 25pts but not bad.

Not the squeeze I was expecting though, it was strange. Once price took out supply zone 77-82 I was expecting a quick rip up then very shallow pb and hard squeeze higher. This one broke the supply and then put in a 1:1 correction, then price just sort of walked itself to the upside. Watching the bars form in the morning coupled with the angle the upswings were happening didn't really give me the impression there was any sense of urgency in the squeeze. So it was odd.
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  • #19,212
  • Apr 28, 2016 10:31pm Apr 28, 2016 10:31pm
Eurusd 15m

expectation nsh

locked in +40pts

moved my tp at 1.1450 area
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  • #19,213
  • Apr 29, 2016 12:31am Apr 29, 2016 12:31am
Quoting mjgoldtrader
Eurusd 15m expectation nsh locked in +40pts moved my tp at 1.1450 area {image}
Congrats for your trade. You could give me some lessons to take patiently a trade and to let it run
  • #19,214
  • Apr 29, 2016 1:14am Apr 29, 2016 1:14am
Quoting Mack2013
{quote} I'm with you on this one. Entries are descent to good but my exits are sub par (but not terrible). Trade management has been a crutch as well. Maybe its because not all strategies work in all markets. I dont know. I have been working on taking the stress out of the trade. Which has been going good. I dont get as angry anymore when Price goes against me upon entry. I expect it to now because most of the time it does. haha I have been also focusing at maximizing my profit ratio. to often I take profits early or refuse to see it top. I switched...
Yeah, deciphering what kind of trade one is in and to trail accordingly is high art. I was just absurdly lucky in choosing a successful trailing method (strucutre, Fibs, bars) in my first trades and realize now, that I was - because I am not good enough for so much discretion - choosing randomly. I am going back to make it as mechanically as possible now and stick to it. I now it works, so why overcomplicate it when I clearly am not knowledgable enough.
  • #19,215
  • Apr 29, 2016 1:15am Apr 29, 2016 1:15am
Quoting jmezz
One trade today on ES. What I really like about what I've learned in this thread so far is that I'm eyeing trades in the direction of the trend more often. It's also a lot easier to tell which way the prices are going when you look at the NSLs and NSHs. This was always a HUGE problem for me. I always had issues taking trades thinking I was going with the trend however would then get fk'd right away. For sure there are still times where I can't decipher what price wants to do, this is the nature of the beast imo, however price action has become a...
Great point about "thinking" price cannot make another run etc., when the strict analysis of price tells us it will. I find myself constantly fighting through such unjustified presumptions.
  • #19,216
  • Apr 29, 2016 1:39am Apr 29, 2016 1:39am
@ Jmez, I'm finding very hard to let go of is what I *think* is going to happen.

Hi Jmez we all suffer from this problem, some more then others, so pick a couple of days or even a week where you say to yourself i am going to be a Robot for the whole week and just do that,, trade like a Robot, you see an entry that meet your rules just " click the button".
  • #19,217
  • Apr 29, 2016 2:19am Apr 29, 2016 2:19am
Quoting mjgoldtrader
Eurusd 15m expectation nsh locked in +40pts moved my tp at 1.1450 area {image}
Missed this train ! Nice one MJ
  • #19,218
  • Apr 29, 2016 4:05am Apr 29, 2016 4:05am
Quoting skyline
{quote} Missed this train ! Nice one MJ
Thnx skylineI was waiting for your post yesterday i believe if ur online yesterday you will also take the same trade as mine.
  • #19,219
  • Apr 29, 2016 4:11am Apr 29, 2016 4:11am
Quoting evocpr19
{quote} Congrats for your trade. You could give me some lessons to take patiently a trade and to let it run
Thank you I trail my SL my first goal is to BE.When i see that it goes in my favor for about 20 to 30pts i moved to BE around 2 to 5ptsThen when the market retrace or make a new resistance/support structure i will move my SL just below/above that area.I think another great style is to use Fib level retracement/ extension to move u SL. SKYLINE has EA that trails automatically his position based on Fib Levels
  • #19,220
  • Apr 29, 2016 4:14am Apr 29, 2016 4:14am
Eurusd 15m

expectation nsh

waiting for retracement bar by bar analysis structure area for entry
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