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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

  • #20,261
  • Jul 28, 2016 3:28pm Jul 28, 2016 3:28pm
Quoting jmezz
Lol at the mic drop. Mack I agree with Rocky in regard to taping your sessions. I have just begun doing this and am getting to see the benefit. PA is also more 'fluid' than if you go back and use market replay to check out prior action. I use this - https://obsproject.com/ It's free and you can set it up to stream to your YouTube channel if you'd like. Or you can just have it record and save to your hard drive without streaming it.
What is the benefit of taping the session? Are you talking out loud about your thoughtprocess?
  • #20,262
  • Jul 28, 2016 5:53pm Jul 28, 2016 5:53pm
Quoting stavrogijn
{quote} What is the benefit of taping the session? Are you talking out loud about your thoughtprocess?
I'm not but that is something I plan on doing once I decide to finally get a mic, lol.

But I like taping it because the price action is substantially more clear vs using market replay. Using market replay data is relayed in second increments thus delivering a 'choppy' experience. The market does not work like that. Recording the session provides a more fluid look at how the bars form and how the market progresses.

Not only that but you can get an idea for what you were thinking at the time when you enter trades. Unless you have a photographic memory and can recall every single one of your decisions throughout the trading day, being able to relive your trades is invaluable imo.

You also can slow it down, pause, and rewind much easier without having to wait for buffering.

It's gives you a much better idea about your trades than looking at a screenshot with trade markers.

Also Stavro I'm glad you responded. I had meant to respond to your post last week asking about the price action. So my answer to your post is that this price action has been a bitch. Slow summer price action mixed with the fact that we are at all time highs breeds this perfect storm of chop / indecision imo.

So it's not just you.
  • #20,263
  • Edited 10:57pm Jul 28, 2016 9:33pm | Edited 10:57pm
Quoting rocky
{image}
The 89 tick on a CFD is pretty slow. I get average 1 set up a day maybe 2. what were you thinking?? maybe go to the a 1 hr or 4 hr (or tick / volume equivalent)

July has been a sad month for me haha

BTW, I don't know how you knew that dink little candle had some significance, but it did. Good for you. I hoped you profited from it. You seen a drop base drop. All I seen was indecision. but it was respected. Again nice call
  • #20,264
  • Jul 28, 2016 9:58pm Jul 28, 2016 9:58pm
Quoting jmezz
YM +9, +1 = +10 ES -2.5, -1.5, +1 = -3 My day was riddled with mistakes. I am extremely upset with my ES losses, they sting the most. On the first ES loss we had a harmonic pullback after price made a NSH, so I entered long. Price had given me many opportunities to get out at a small loss and a couple opportunities to get out at b/e. Even a small profit was possible yet I stayed in because I thought we would be going higher. I should not have even been in that trade because I risked way more than I usually do. I am having a hard time gauging how...
I know what you mean. I wish I could give you some words of encouragement but my trading has been horrendous lately so.... My broker sent me an email and when I opened it, I though my screen froze red but it was just me account activity statement. lol ba-bum-tss.

heres another. Why couldn't the bike stand on its own??? Because its two tired

Oh and heres a classic. My wife always complains that I don't take her anywhere. I take my wife everywhere but she always fines her way back home. ba-bum-tss

Thats right folks, I'll be here all week
  • #20,265
  • Jul 29, 2016 1:35am Jul 29, 2016 1:35am
Back from a two month business trip, ready to do some trading.
Damn The Torpedoes, Full Speed Ahead!
  • #20,266
  • Jul 29, 2016 2:35am Jul 29, 2016 2:35am
Quoting Mack2013
{quote} I know what you mean. I wish I could give you some words of encouragement but my trading has been horrendous lately so.... My broker sent me an email and when I opened it, I though my screen froze red but it was just me account activity statement. lol ba-bum-tss. heres another. Why couldn't the bike stand on its own??? Because its two tired Oh and heres a classic. My wife always complains that I don't take her anywhere. I take my wife everywhere but she always fines her way back home. ba-bum-tss Thats right folks, I'll be here...
Definitely cheering us up for good, Mack!
  • #20,267
  • Jul 29, 2016 2:36am Jul 29, 2016 2:36am
Quoting jmezz
{quote} I'm not but that is something I plan on doing once I decide to finally get a mic, lol. But I like taping it because the price action is substantially more clear vs using market replay. Using market replay data is relayed in second increments thus delivering a 'choppy' experience. The market does not work like that. Recording the session provides a more fluid look at how the bars form and how the market progresses. Not only that but you can get an idea for what you were thinking at the time when you enter trades. Unless you have a photographic...
Thank you for clearing the benefits up for me. I will look into it. Maybe it will make me focus more and not divert attention as I do so often these days when price stagnates or moves in between confluence zones.
  • #20,268
  • Jul 29, 2016 7:25am Jul 29, 2016 7:25am
Quoting Mack2013
{quote} The 89 tick on a CFD is pretty slow. I get average 1 set up a day maybe 2. what were you thinking?? maybe go to the a 1 hr or 4 hr (or tick / volume equivalent) July has been a sad month for me haha BTW, I don't know how you knew that dink little candle had some significance, but it did. Good for you. I hoped you profited from it. You seen a drop base drop. All I seen was indecision. but it was respected. Again nice call

Nice to know i'm not the only one who got my ass kicked this month. Had a winning month in may. great. followed it up with a winning month in june. woo-hoo. Could this be it i thought, three in a row, the thing i've been working towards all this time, something to finally show that i've made some progress.............NO.

To say july has been bad for me is an understatement, haven't had a winning trade let alone winning day for 2 weeks, either break even or loss. Things weren't this bad when i first started trading. still, its a good reminder why i still only trade micro lots and i want at least 6 winning months in a row before i even consider trading large position sizes. Things can go very bad very quickly.

ah well, at least august can't get any worse.......can it
  • #20,269
  • Jul 29, 2016 7:45am Jul 29, 2016 7:45am
Quoting jmezz
{quote} I'm not but that is something I plan on doing once I decide to finally get a mic, lol. But I like taping it because the price action is substantially more clear vs using market replay. Using market replay data is relayed in second increments thus delivering a 'choppy' experience. The market does not work like that. Recording the session provides a more fluid look at how the bars form and how the market progresses. Not only that but you can get an idea for what you were thinking at the time when you enter trades. Unless you have a photographic...

hey jmezz,

i've downloaded OBS, is there any way to change the frames per second while recording, i used to use this http://www.nchsoftware.com/capture/, its very very basic, but could record the screen so that i could watch a 3 hour trade session back in about 20 mins. I found this useful to condense the sessions for watching back on a weekend.
But i like obs, its much snazzier and gives the option to live stream to youtube, which i hope to do one day when i become consistently profitable (probably sometime around the end of the century)

To stavrojin - recording trade sessions is a great thing to do if you trade on low time frames. Seeing price unfold and the decisions you made, while sitting back on a weekend in the cold light of day, really gives a good insight that its easy to miss in real time. not having a mike isn't a problem, as you watch back you will see some trades you took that made perfect sense (these tend to be winners), but other times you won't be able to remember why you took a trade even tho you must have had good reasons at the time (these tend to be losers). It also helps with emotion, you can see the decisions you made in real time and how these sabotage your trading, all in all, well worth a try.
  • #20,270
  • Jul 29, 2016 7:52am Jul 29, 2016 7:52am
Quoting rocky
{image}
Great play Rocky, per usual.

I have a couple of questions though.

When you are stacking the odds for a trade, do you usually look for these confluence areas to be around the 618-786? Most of the screens that you attach seem to be around that area, with a smaller few of them being around the 50 or 886. I don't think I recall ever seeing you place a trade around the 382. This would somewhat reinforce my growing belief that the 382 is almost useless and is the level with the most amount of 'fuckery' involved.

Also had a quick question on the way you draw trendlines. When you are drawing supply zones do you only stick to ascending trendlines into the zone to play off of? Likewise, when drawing demand zones do you keep to drawing descending trendlines into the zone? Or do you just look for some sort of trendline to pass through these zones, not being discriminate as to whether they're ascending or descending?
  • #20,271
  • Jul 29, 2016 8:03am Jul 29, 2016 8:03am
Quoting Wolves77
{quote} Nice to know i'm not the only one who got my ass kicked this month. Had a winning month in may. great. followed it up with a winning month in june. woo-hoo. Could this be it i thought, three in a row, the thing i've been working towards all this time, something to finally show that i've made some progress.............NO. To say july has been bad for me is an understatement, haven't had a winning trade let alone winning day for 2 weeks, either break even or loss. Things weren't this bad when i first started trading. still, its a good reminder...
Would you be willing to post some of your trades so that maybe others (and myself) could perhaps try to gain some knowledge? Completely understandable if you prefer not to, dealing with one's own mistakes is extremely difficult sometimes. I know there have been times where I have not wanted to deal with / post my own here, haha. However, the fact that there are quite a few of us who have been bombing the past month makes me think that clearly there is something that we are not understanding.

The instances in the past where you have contributed have all been thought-provoking, think it would be beneficial to see you be more active in the thread however I realize and respect the fact that not everyone wants to be super involved in online forums.

Regardless, am thankful for what / when you do contribute.

Quoting Wolves77
{quote} hey jmezz, i've downloaded OBS, is there any way to change the frames per second while recording, i used to use this http://www.nchsoftware.com/capture/, its very very basic, but could record the screen so that i could watch a 3 hour trade session back in about 20 mins. I found this useful to condense the sessions for watching back on a weekend. But i like obs, its much snazzier and gives the option to live stream to youtube, which i hope to do one day when i become consistently profitable (probably sometime around the end of...
Yes you can, I just did that the other day as I noticed it defaults to recording in 30fps, so I amended it to 60 and the video quality is much better. I'll attach a screen for you.

And agree on all accounts regarding recording trades. I will like the vids more when I get a mic and can talk through my analysis as the day progresses but will probably pick up a fair amount of profanity as well lol.

Attached Image (click to enlarge)
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  • #20,272
  • Jul 29, 2016 9:01am Jul 29, 2016 9:01am
Quoting jmezz
{quote} Would you be willing to post some of your trades so that maybe others (and myself) could perhaps try to gain some knowledge? Completely understandable if you prefer not to, dealing with one's own mistakes is extremely difficult sometimes. I know there have been times where I have not wanted to deal with / post my own here, haha. However, the fact that there are quite a few of us who have been bombing the past month makes me think that clearly there is something that we are not understanding. The instances in the past where you have contributed...
Cheers for the info jmezz, will try to post more on the site, the only problem i have is time is a problem. when i do get to trade, i'm on 3 min charts eur/usd and usd/jpy, sometimes usd/cad, so its a lot to keep an eye on. i also close out trades manually so need to keep a close watch. To be honest i stopped posting charts a while ago because the way i trade is a bit crazy and is open to a lot of (understandable) criticism.
when i open a trade i only give price one candlestick room to breathe, i ALWAYS set a stop loss but try to keep it away from the action and close out the trade manually.
This gives me a very low win rate and i can't imagine any veteran trader thinking this is a good way to trade and many would say this is why i keep losing all the while.
to be fair it probably is, but i'm a stick in the mud and this is the way i want to trade. (at least for now)
my reason for this was my final reason for entry is always bar by bar and once price goes against me i don't see the reason for staying in the trade and hoping it will turn round again, more often than not it never did.

here's 1 of 2 trades i took yesterday

Attached Image (click to enlarge)
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p.s. i'm also slow at these posts lol, this has taken me over half an hour anyway, all the big data is out now so lets see if there one more opportunity.
  • #20,273
  • Jul 29, 2016 9:41am Jul 29, 2016 9:41am
aaahhhh, i was posting on the thread and i missed this trade lol, never mind this months been a write off anyway, altho if this trade hits target (55 pips) it would have wiped out all the losses from the last 2 weeks. i take a lot of losses but they are tiny.

right now my trading is very basic, in the chart below the expectation was a NSL, we have broken out of the range and price is trending which increases the probability of the expectation. price came back to a previous blue line on my chart and the bears took over on the bar by bar. and thats pretty much it. time to go short.

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when these setups occur they tend to do very well, the problem is just waiting for the damned things. lately price has just been a complete chop fest.
also, I would have been more confident in this trade because it was backed by fundamental drivers and less likely that price would have just returned to the chop.
  • #20,274
  • Jul 29, 2016 9:55am Jul 29, 2016 9:55am
Could catch arround +10 (big lot); (+8.2 dax; -6.6 dax; +5.6 Dax; +3.7 Dax). Current price action is confusing me a bit, I stay away.
  • #20,275
  • Edited 10:45am Jul 29, 2016 10:13am | Edited 10:45am
Attached Image (click to enlarge)
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11;40 HRS...Closed trade at 1.8384. Have a good weekend, Rocky!
  • #20,276
  • Jul 29, 2016 10:30am Jul 29, 2016 10:30am
yup it hit

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and so did usd/cad. My general trading right now is so basic i won't bother marking the chart below, i reckon most folks will see where i would have entered short when i would have exited the trade manually and where i was looking to take profit.

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ah well, the question is, if i hadn't been posting on thread would i have took these trades anyway after such an extended losing streak or would i have bottled it.
lesson to self - the months not over till the fat lady sings, don't doubt yourself.

In the future i'm looking to get a little more sophsticated, right now i just wanted to see if i could get three months profitable by just trading uptrends and downtrends, then in the future look towards different trading enviroments and slowly build up one layer at a time until i can get to the point where i can be like mr. pip and just sit down at one single chart and trade whatever is in front of me. never underestimate just how difficult that is to do. its funny but the more i do this the more i appreciate just how phenomenally good damian is at trading.
  • #20,277
  • Jul 29, 2016 10:45am Jul 29, 2016 10:45am
Jesus, dow is going up (without me).

Congrats Rocky.

Before I mess up everything (+11 big lot), I stop trading for today. Good luck to all of you and happy WE.
  • #20,278
  • Jul 29, 2016 5:23pm Jul 29, 2016 5:23pm
ES -.5, +2.25, +.5 = +2.25
YM -7, +19 = +12
NQ +3.25, b/e, b/e, b/e, +2.5, -2.25, +.25 = +4

Missed the big move today but was able to scalp for some.

I am thinking of ditching the ES and replacing it with NQ, going to take the weekend to mull it over.

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  • #20,279
  • Jul 30, 2016 2:45am Jul 30, 2016 2:45am
Quoting jmezz
ES -.5, +2.25, +.5 = +2.25 YM -7, +19 = +12 NQ +3.25, b/e, b/e, b/e, +2.5, -2.25, +.25 = +4 Missed the big move today but was able to scalp for some. I am thinking of ditching the ES and replacing it with NQ, going to take the weekend to mull it over. {image} {image} {image}
Sorry to ask: What is NQ?
Is this Nasdaq? Does anybody know a future Brooker with ninja which offers first the possibility to try on demo first and which located in Europe?
  • #20,280
  • Jul 30, 2016 8:57am Jul 30, 2016 8:57am
Quoting evocpr19
{quote} Sorry to ask: What is NQ? Is this Nasdaq? Does anybody know a future Brooker with ninja which offers first the possibility to try on demo first and which located in Europe?
That's right, it's the Nasdaq e-mini.

You can try checking if Ninjatrader Brokerage does that or I've read good things about AMP Futures.
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