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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

  • #20,021
  • Jun 29, 2016 2:03pm Jun 29, 2016 2:03pm
Quoting jmezz
{quote} Congrats if you held, looks like you would end up with some good profit.
+24. trailed stops too tight. market really starting to move now too after a very slow morning for me. oh well, at least I took some profit
  • #20,022
  • Jun 29, 2016 2:15pm Jun 29, 2016 2:15pm
Quoting jmezz
No trades for me today. However did take a lesson away from today. Usually on days where price has been strongly trending in one direction for a while, I would be ready to jump on the very first order flow change. I got burned on this a few times but now when I see this I think that it's best for me to skip the first signal and wait and see if it then takes out the last swing low before it. Including screenshot. So green would have been an ofc and then I'd be waiting for pullback to short. In this example it did work out but it would not have been...
nice patience. kind of my thoughts even tho this would of probable worked out to B/E or small profit in this case

 

  1. Bulls show weakness (weak momentum & no s/t nsh)
  2. Bears show strength with momentum and continuation (if touch 127. dont know if it did or not???)
  3. Strong rejection

Attached Image


Personally, I was only looking for longs and the bears looked weaker on my chart
  • #20,023
  • Jun 29, 2016 2:52pm Jun 29, 2016 2:52pm
Quoting jmezz
No trades for me today. However did take a lesson away from today. Usually on days where price has been strongly trending in one direction for a while, I would be ready to jump on the very first order flow change. I got burned on this a few times but now when I see this I think that it's best for me to skip the first signal and wait and see if it then takes out the last swing low before it. Including screenshot. So green would have been an ofc and then I'd be waiting for pullback to short. In this example it did work out but it would not have been...
Excellent reading jmezz. I am impressed you can read that well by symply looking at a tick chart. On the ES, this episode was pretty similar and it gave a short setup with a target at what is called in volume profile the developing value area high. I'll try to post a chart at the end of the day.
  • #20,024
  • Edited 4:35pm Jun 29, 2016 4:11pm | Edited 4:35pm
My day was not that good. I was looking for a opportunity to go short, but price moved all day up. I should have chosen entries with the uptrend.
I could only collect few pips (at least no loss), since price hit my protected entry.
  • #20,025
  • Jun 30, 2016 3:12am Jun 30, 2016 3:12am
Quoting jmezz
{quote} Hey did you end up playing this?
Hi!

Yes, I got stopped out before the brexit crash.
  • #20,026
  • Jun 30, 2016 6:59am Jun 30, 2016 6:59am
Quoting Mack2013
{quote} well, I got tapped out for +24 pips. PA seemed to have stalled and I was thinking of exiting but decided to trail based on the daily trend. Sacrificed 10 -12 pips. deciding when to take targets and trail profits is difficult. Thought my choice was the right one. long term acceleration is weakening. that is it for me today {image}
wanna see smth funny (read extremely stupid, ...no not extremely, but exemplary insane epic stupidity) check this out where I closed () the only trade i had yesterday.

I wasn't going to trade during US session as I had other business to attend, and just thought to take a trade on EU session...and that's it....
Attached Image (click to enlarge)
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  • #20,027
  • Jun 30, 2016 7:05am Jun 30, 2016 7:05am
Quoting jmezz
No trades for me today. However did take a lesson away from today. Usually on days where price has been strongly trending in one direction for a while, I would be ready to jump on the very first order flow change. I got burned on this a few times but now when I see this I think that it's best for me to skip the first signal and wait and see if it then takes out the last swing low before it. Including screenshot. So green would have been an ofc and then I'd be waiting for pullback to short. In this example it did work out but it would not have been...
I also got burned several time trying to jump immediately counter trend as soon as i saw a change in order flow, and now I'm doing exactly that, waiting for two NS being taken out before i consider changing trend direction.
  • #20,028
  • Jun 30, 2016 7:07am Jun 30, 2016 7:07am
one trade i took this morning. entered a bit too soon, and got a bad a fill...but luckily it turned out well.
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  • #20,029
  • Edited 11:12am Jun 30, 2016 10:36am | Edited 11:12am
second trade. came late and price had gone without me. was trading that small swing up targeting only 30 pips or smth. But to hell with it. If market wants to go high why have prejudices...u know.. and let's cheer for the bulls. (i promise I'lll only eat the mad cows...)
Attached Image (click to enlarge)
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edit: my SL wasn't hit by 2 points.
edit: closed +40 points. enough for today.

A total of 111 points. not bad for a loser who a year ago blew his 4th account. right Damian ? The only question now is: when do i get my diploma in trading? is there like a final exam that i have to pass, or a a thesis that i have to finish .... let me know Master.
  • #20,030
  • Jun 30, 2016 11:13am Jun 30, 2016 11:13am
Quoting ujku80
{quote} wanna see smth funny (read extremely stupid, ...no not extremely, but exemplary insane epic stupidity) check this out where I closed () the only trade i had yesterday. I wasn't going to trade during US session as I had other business to attend, and just thought to take a trade on EU session...and that's it.... {image}
hahaha. I can tell that your beating yourself up on that one. it happens. one of the things I've been trying to make a rule on is minimum profit. say if I'm up 25 then it goes back to 10 ;

  1. should I manually close on strong PA
  2. should I just go to BE and let it play out
  3. should I place SL at S/T swing low

I haven't did the stats for it but would all those 10's out weigh the ones that reverse and reach PT and more. tough question I think

Quoting ujku80
one trade i took this morning. entered a bit too soon, and got a bad a fill...but luckily it turned out well. {image}
Nice. One of those a day would make you a rich man
  • #20,031
  • Jun 30, 2016 11:22am Jun 30, 2016 11:22am
Quoting Mack2013
{quote} hahaha. I can tell that your beating yourself up on that one. it happens. one of the things I've been trying to make a rule on is minimum profit. say if I'm up 25 then it goes back to 10 ; should I manually close on strong PA should I just go to BE and let it play out should I place SL at S/T swing low I haven't did the stats for it but would all those 10's out weigh the ones that reverse and reach PT and more. tough question I think
yeah, ask me about it. can't imagine how many times did i tell myself idiot yesterday....

Quoting Mack2013
{quote} Nice. One of those a day would make you a rich man
yeah, if i get one of those EVERY day. oh there is nothing else i ask from this life
  • #20,032
  • Jun 30, 2016 11:27am Jun 30, 2016 11:27am
good morning

US30 -89T

Kind of what I'm thinking. I'll be gauging S/T strength to decide which option to take.

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  • #20,033
  • Jun 30, 2016 11:46am Jun 30, 2016 11:46am
Quoting Mack2013
good morning US30 -89T Kind of what I'm thinking. I'll be gauging S/T strength to decide which option to take. {image}
through a fib at the last swing which starts at the outside border of the top D zone (middle yellow line) and enter at 50 to 62% of that one. I don't think the price will retrace so much to test that zone again. My scenario is somewhere between those two arrows that u predict.
  • #20,034
  • Jun 30, 2016 12:06pm Jun 30, 2016 12:06pm
Quoting ujku80
{quote} through a fib at the last swing which starts at the outside border of the top D zone (middle yellow line) and enter at 50 to 62% of that one. I don't think the price will retrace so much to test that zone again. My scenario is somewhere between those two arrows that u predict.
I guess until then its the waiting game...
  • #20,035
  • Jun 30, 2016 12:47pm Jun 30, 2016 12:47pm
US30 - 89T

Got a little bit antsy I think and pulled the trigger. S/T things seem to be breaking down but I'm still with the trend. I'll be managing this very aggressively.

looking for a nsh, if I don't get it, i'll be looking to exit

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  • #20,036
  • Jun 30, 2016 1:27pm Jun 30, 2016 1:27pm
Quoting Mack2013
US30 - 89T Got a little bit antsy I think and pulled the trigger. S/T things seem to be breaking down but I'm still with the trend. I'll be managing this very aggressively. looking for a nsh, if I don't get it, i'll be looking to exit {image}
I would have taken that too. I mean market may never retrace to a better place u know. GL!
  • #20,037
  • Edited 1:59pm Jun 30, 2016 1:40pm | Edited 1:59pm
Quoting ujku80
{quote} I would have taken that too. I mean market may never retrace to a better place u know. GL!


I was expecting a PB but didn't think we would get anything bigger then 50%. Well, again I tried to trail and I lost. CENSORED Trailing.

BE +2. My trade management has been killing me lately. I think I'll go back to just taking targets and close against strength.

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Edit: I was looking to re-entry but I didn't get what I was looking for. oh well
  • #20,038
  • Jun 30, 2016 2:46pm Jun 30, 2016 2:46pm
Quoting Mack2013
{quote} I was expecting a PB but didn't think we would get anything bigger then 50%. Well, again I tried to trail and I lost. CENSORED Trailing. BE +2. My trade management has been killing me lately. I think I'll go back to just taking targets and close against strength. {image} Edit: I was looking to re-entry but I didn't get what I was looking for. oh well
Oh shit. How i hate this stuff. I think one way to go is to take profit at the first price rotation agains your trade. Then enter again at PB. Better luck next time man.
  • #20,039
  • Jun 30, 2016 5:26pm Jun 30, 2016 5:26pm
When I looked at the dow in the Morning (EU time), price was not inspiring to me for entering a trade. I thought at 61 fib retracement would be a good point (did not trade it) to enter (expectation NSH), but then these huge candles and the 3 retest would have killed me.
I saw also a big rejection in this area to go higher which told me (wrongly) that price will not go up and then boom.

Congrats to those who took this trade (was not at my computer, but would have expected price to go down). I am currently struggling with my price reading and if you look at the main swing (begin of brexit), we never retraced a lot and we are now at 78.6 fib).

Maybe someone can give me a clue on what I focus wrongly.
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  • #20,040
  • Jul 1, 2016 3:19am Jul 1, 2016 3:19am
Quoting evocpr19
When I looked at the dow in the Morning (EU time), price was not inspiring to me for entering a trade. I thought at 61 fib retracement would be a good point (did not trade it) to enter (expectation NSH), but then these huge candles and the 3 retest would have killed me. I saw also a big rejection in this area to go higher which told me (wrongly) that price will not go up and then boom. Congrats to those who took this trade (was not at my computer, but would have expected price to go down). I am currently struggling with my price reading and if you...
You are not doing anything wrongly here. Other than the tricks that market plays with us by making us believe that market may change direction (those candles that u mention) then everything else is fine. Once you saw that price broke that red box to the upside, then it was safe to trade with the trend, which is up.

The basic idea of this technique is that we follow trend, which is order flow, which is NS as they are printed on the graph. But with 5 min chart it was a bit hard to enter at good retracement; but on one minute chart on the other hand you could have entered and traded some smaller swings to the upside by risking capital correspondingly to those swings. Like i did in my last trade yesterday. 233 tick chart is more similar to 1 minute in such volatile times. OK?

So, u did nothing wrong. U simply missed an opportunity. don't beat yourself up for that. It's just one day. There will be opportunities today too.
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