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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

  • #20,621
  • Oct 11, 2016 11:28am Oct 11, 2016 11:28am
Quoting stavrogijn
{quote} Well, you are certainly entitled to your opinion. Having read the entire thread I think there was a lot of value in the earlier discussion, especially with Mr.Pip being there. I must say though, that I enjoy the current thread very much and think the contributors offer a lot to learn from, are very helpful and keep a meaningful learning environment going. The thread is only as good as the people in it: you are welcome to improve and change it in the way you like by contributing and sharing your knowledge - I for one would be happy to learn...
hahaha. agreed. I wasn't sure it I should be insulted or not. I know I'm not in the top 5 % of traders but I don't do too bad.
  • #20,622
  • Oct 11, 2016 12:33pm Oct 11, 2016 12:33pm
Quoting gbmcgee
Mr. Pip, I sorely miss the days when you truly began to teach and train the initial group of students to include Bary, ujku80, hoveguy, rolandW, devontrader, and all the other believers that you so patiently dealt with on a day-day-day and trade-to-trade basis. I also recall watching your videos related to structural analysis, order flow, complex corrections, order flow expectations, etc. over and over. I was absolutely enthralled and totally devoted to the common acronyms of NSH, HL, NSl, and LH. A trader could actually make a living on structural...
Yeah I mean I don't really understand the point of your post. You go from wanting the old days of the thread, to praise, to knocking the current state of the thread, to saying you have respect for Damian and everyone who follows his teachings. You're kind of all over the place.

Regardless, here's an idea - since you have found life-changing success and are so grateful for what you learned from Damian, whynot contribute to the thread and give back to the place that facilitated that life-changing success? That would make sense right?
  • #20,623
  • Oct 11, 2016 3:03pm Oct 11, 2016 3:03pm
Good afternoon

US30 -89T +3 pips

I think I left a golden trade short on the table looking for longs to retest the open. But it is what it is.

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  • #20,624
  • Oct 11, 2016 3:28pm Oct 11, 2016 3:28pm
Quoting Mack2013
Good afternoon US30 -89T +3 pips I think I left a golden trade short on the table looking for longs to retest the open. But it is what it is. {image}
We had basically the same idea. I survived with longs (+12), but I should have shorted the beast.
  • #20,625
  • Oct 12, 2016 10:19pm Oct 12, 2016 10:19pm
US30 -89T

What a waste of a almost perfect entry....... Still +32 but I left a lot of pips on the table. A LOT OF PIPS. should of held on for my original target.

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  • #20,626
  • Edited 2:12am Oct 13, 2016 12:24am | Edited 2:12am
Quoting Mack2013
US30 -89T What a waste of a almost perfect entry....... Still +32 but I left a lot of pips on the table. A LOT OF PIPS. should of held on for my original target. {image}
I would not feel too down. Price moved pretty choppily until it reached your original target. Hard to manage. You took profit before a biggish pullback which you anticipated.
Nice trade in my opinion and reeeally nice entry!
  • #20,627
  • Oct 13, 2016 10:20am Oct 13, 2016 10:20am
Quoting stavrogijn
{quote} I would not feel too down. Price moved pretty choppily until it reached your original target. Hard to manage. You took profit before a biggish pullback which you anticipated. Nice trade in my opinion and reeeally nice entry!
Thanks dude. Your right. You described the situation way better then I did.

Good trading to you
  • #20,628
  • Oct 13, 2016 3:09pm Oct 13, 2016 3:09pm
US30 -89T

there was some really good opportunities in the market today. It was a shame I wasn't able to take advantage of them. I hope others had better luck.

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  • #20,629
  • Oct 14, 2016 2:51pm Oct 14, 2016 2:51pm
Good afternoon traders

US30 - 89T

(-17 +1 - 23 +2 = -37 pips)

Definitely over-traded today but I believed in my expectation of a continuation higher. I'll try to break my session down and hopeful learn from my mistakes. A real life example of how emotions can effect your trading

Sorry for the small writing and the long read. even enlarged it is barely readable

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Got faked out.
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  • #20,630
  • Oct 14, 2016 4:31pm Oct 14, 2016 4:31pm
I did nothing today, since I missed the entry to short. After NY open, I saw that price gets rejected, so I thought that it might be good to go short.
However, I spent too much time on thinking (I was not totally sure and also where to set TP) and I missed the entry. Later, I did not want to enter, since the trading price range was too narrow for my taste.

When I look now the chart, I am wondering why I did not enter, but hindsight makes everything look easy.
  • #20,631
  • Oct 14, 2016 6:23pm Oct 14, 2016 6:23pm
Quoting Mack2013
Good afternoon traders US30 - 89T (-17 +1 - 23 +2 = -37 pips) Definitely over-traded today but I believed in my expectation of a continuation higher. I'll try to break my session down and hopeful learn from my mistakes. A real life example of how emotions can effect your trading Sorry for the small writing and the long read. even enlarged it is barely readable {image} {image} {image} {image} Got faked out. {image} {image} {image} {image} {image}
Nice post mack, this is so familiar its scary, for me these are the realities of trading and i think if a lot of traders are honest with themselves they probably all do this from time to time. On the plus side, being aware of this sort of thing and recognizing it happens, goes a long a way to eliminating it. I still have sessions like this but they are much rarer than 12 months ago. On the whole tho mack,, great trading lately, put this one to bed and good luck for next week.
  • #20,632
  • Oct 14, 2016 7:21pm Oct 14, 2016 7:21pm
I see myself in some of those trades Mack, they happen but as Wolves mentions they will occur less and less when we identify and learn from them. Personally had a roller coaster of a week but managed to close it out break even. All in all it was my mistakes that cost me money. Overtrading, emotional trading and greed.

Here is my long term on the US30 - cfd:

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Have a great weekend!
Rise and rise again until lambs become lions
  • #20,633
  • Edited 5:32am Oct 15, 2016 3:28am | Edited 5:32am
Quoting Mr_Burns
I see myself in some of those trades Mack, they happen but as Wolves mentions they will occur less and less when we identify and learn from them. Personally had a roller coaster of a week but managed to close it out break even. All in all it was my mistakes that cost me money. Overtrading, emotional trading and greed. Here is my long term on the US30 - cfd: {image} Have a great weekend!
Hey Mack,

as others have said the mental side of trading is the one thing one struggles with the longest and hardest.

I think you have correctly identified the problem to be mainly psychological: Overtrading and Revengetrading. The fear of missing out on the move we are waiting for and the anger that leads to tilt when we either mismanage a trade or lose a trade or more. This leads to tilt and bad decisions.

The one thing I have found though, is that to be able to wait patiently and focused for our setup, we need to know what exactly we are waiting for. It is impossible to wait, if you do not know what for. As discretionary traders this is most important, as a big part of our setups comes only with the experience of having traded them succesfully for a few times and in the future then recognizing the state of the market and the probabilities of price movements again - because we have seen and succesfully traded them a lot.

To me this leads to developing a rough idea pre-market of what price might be doing that day, marking up my confluence areas and only trading in the vicinity of those areas.
I do not see any structure areas marked up on your charts, so that might help you a bit. But then again all your entries were in a certain zone, so it probably just comes down to the problems you identified.
  • #20,634
  • Oct 15, 2016 1:08pm Oct 15, 2016 1:08pm
Quoting Wolves77
{quote} Nice post mack, this is so familiar its scary, for me these are the realities of trading and i think if a lot of traders are honest with themselves they probably all do this from time to time. On the plus side, being aware of this sort of thing and recognizing it happens, goes a long a way to eliminating it. I still have sessions like this but they are much rarer than 12 months ago. On the whole tho mack,, great trading lately, put this one to bed and good luck for next week.
Quoting stavrogijn
{quote} Hey Mack, as others have said the mental side of trading is the one thing one struggles with the longest and hardest. I think you have correctly identified the problem to be mainly psychological: Overtrading and Revengetrading. The fear of missing out on the move we are waiting for and the anger that leads to tilt when we either mismanage a trade or lose a trade or more. This leads to tilt and bad decisions. The one thing I have found though, is that to be able to wait patiently and focused for our setup, we need to know what exactly we...
Quoting Mr_Burns
I see myself in some of those trades Mack, they happen but as Wolves mentions they will occur less and less when we identify and learn from them. Personally had a roller coaster of a week but managed to close it out break even. All in all it was my mistakes that cost me money. Overtrading, emotional trading and greed. Here is my long term on the US30 - cfd: {image} Have a great weekend!
Thanks guys. I like to say that for over trading, I rare do this anymore and taking a second look at it. only trade 3 was really unnecessary. too bad it was my biggest loss. If I would of stuck to the plan. I would of ended up for the day instead of taking 2 unnecessary losses.

Revenge trading still seems to be too often but once every other month or so.

On a positive note, at least I didn't extend my stops to oblivion. Thats a win , I guess.

stavrogijn, I think your right in that I was playing in dangerous territory. In between 2 zones and not on their edges. Maybe my identified opportunities didn't have a high probability of success in the first place.

Anyway, I'll kill it next week
  • #20,635
  • Edited 11:38am Oct 16, 2016 7:15am | Edited 11:38am
Quoting Mack2013
{quote} {quote} {quote} Anyway, I'll kill it next week
YES! That's the spirit: you go get 'em!
  • #20,636
  • Oct 16, 2016 11:56am Oct 16, 2016 11:56am
Quoting Mack2013
Good afternoon traders US30 - 89T (-17 +1 - 23 +2 = -37 pips) Definitely over-traded today but I believed in my expectation of a continuation higher. I'll try to break my session down and hopeful learn from my mistakes. A real life example of how emotions can effect your trading Sorry for the small writing and the long read. even enlarged it is barely readable {image} {image} {image} {image} Got faked out. {image} {image} {image} {image} {image}
This is a great trade dissection Mack, sounds like you know exactly what went wrong.

It's good to find the silver-lining in days like these, sometimes they're needed in order to reinforce rules and learn new thought patterns.
  • #20,637
  • Oct 16, 2016 11:56am Oct 16, 2016 11:56am
No trades for me last week, hope to be back in the chair for this upcoming week.
  • #20,638
  • Oct 16, 2016 1:58pm Oct 16, 2016 1:58pm
For Ratio & Harmonic trading I like ABCD pattern very much and most of time market confirm this pattern. Recently I saw BC leg retraces 61.8 & 78% AB leg in XAUUSD & UEURUSD.
  • #20,639
  • Oct 17, 2016 3:51am Oct 17, 2016 3:51am
AUDUSD Hourly chart, I think price drop down more and in first target touch 0.7535

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  • #20,640
  • Oct 17, 2016 7:18am Oct 17, 2016 7:18am
YM this morning

Some thoughts and areas of interest.

ON session closed gap from Friday, see if there's a move to close it in RTH.

ON session 99% net short but just about retraced to Friday's close so I consider this a push.

Let's see what RTH order flow presents.

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