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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

  • #21,341
  • Nov 16, 2016 1:21pm Nov 16, 2016 1:21pm
YM +30

YM bailing me out today, back green and hit daily quota.

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  • #21,342
  • Nov 16, 2016 1:21pm Nov 16, 2016 1:21pm
Quoting Mack2013
{quote} Damn dude. That sucks about the first trade. I know what cha mean about making bad decisions. Sometime I'm on point and then all of a sudden, it feels like I'm trading drunk. {image}
Lol that pic
  • #21,343
  • Nov 16, 2016 1:22pm Nov 16, 2016 1:22pm
Quoting Harmonic1976
Definitely need to learn to hang on, headed straight for a test to structure. I may try using the .382 trailing to take me out {image}
Hey man what made you get out there? What was your expectation? Just like you have clear areas where you look for entries you should have for profit targets. Looks like trade management might be a bit on the emotional side.
If you fail to plan, you plan to fail.
  • #21,344
  • Nov 16, 2016 1:23pm Nov 16, 2016 1:23pm
Quoting morph
EURUSD - my first live trade. Currently at break even and looking for the potential exit. Thanks Mr Pip - you have inspired me back into trading with confidence. Now it is practise, practise, practise {image}
Go getem Morph! Don't take shit from the market and crush it!!
If you fail to plan, you plan to fail.
  • #21,345
  • Nov 16, 2016 1:33pm Nov 16, 2016 1:33pm
Quoting x3m-PippiN
{quote} I've been trying it on YM 233 tick chart for the last hour and a half ...backtesting for the first 2 weeks of October and it really gives better price for entry but like you are saying - there should be a lot of momentum and it works well only on short term OF and not so good with bigger swings. The only downside I encountered is that price sometimes doesn't touch the limit order and I guess that's because candles on tick charts aren't the most accurate. It depends from data feed to data feed. Suppose it would work better with a time chart...
Price is price. It does not matter what type of candle you use sure they may look different but the price levels will always be the same a the high is the same regardless of what you use. If price reaches 188357 as an example it does so on any type of candle you use time, tick, volume, range, renko whatever. If you did not get filled and price got there consult your broker or platform. Maybe they are filtering pricing data forex brokers do this and screw the little guys like us. I trade the Futures market with a Futures broker. This mean no price manipulation, filtering or spread widening. I don't deal with that anymore.
If you fail to plan, you plan to fail.
  • #21,346
  • Edited 1:43pm Nov 16, 2016 1:33pm | Edited 1:43pm
Quoting Harmonic1976
Definitely need to learn to hang on, headed straight for a test to structure. I may try using the .382 trailing to take me out {image}
Some images show your entry line as the low of the last bullish candle and some show the entry line as the open of the last bullish candle. You use the low of the last bullish candle right?

And what is your b/e protocol?

What helped me with holding onto trades was locking in ~5pts at the test of structure. This made me feel better mentally than settling for a b/e1 and allowed me to sit back a little and let the trade run.
  • #21,347
  • Nov 16, 2016 1:34pm Nov 16, 2016 1:34pm
Quoting jmezz
YM +30 YM bailing me out today, back green and hit daily quota. {image}
Nice work!
If you fail to plan, you plan to fail.
  • #21,348
  • Nov 16, 2016 1:36pm Nov 16, 2016 1:36pm
Quoting Mr. Pip
{quote} Hey man what made you get out there? What was your expectation? Just like you have clear areas where you look for entries you should have for profit targets. Looks like trade management might be a bit on the emotional side.
I was expecting a temporary pullback but yes, the biggest challenge I have is not seeing and understanding your strategy or market structure, its holding on to let profits run. I know price doesn't move in a straight line typically (unlike the previous trades)... it's hard for me to see that many points on the table and potentially giving that up when reward is > risked amount.

its my biggest obstacle and once overcome, I think I will be move me closer to joining you in the top 10% at that point.

I have recently taken steps to help with this "issue" but if you have any advice it would be greatly appreciated!!!
  • #21,349
  • Nov 16, 2016 1:38pm Nov 16, 2016 1:38pm
Quoting Mr. Pip
{quote} Go getem Morph! Don't take shit from the market and crush it!!
Price testing structure. SL moved to lock in some profit. Now waiting to see if it breaks below.

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  • #21,350
  • Nov 16, 2016 1:40pm Nov 16, 2016 1:40pm
Quoting Mr. Pip
{quote} Price is price. It does not matter what type of candle you use sure they may look different but the price levels will always be the same a the high is the same regardless of what you use. If price reaches 188357 as an example it does so on any type of candle you use time, tick, volume, range, renko whatever. If you did not get filled and price got there consult your broker or platform. Maybe they are filtering pricing data forex brokers do this and screw the little guys like us. I trade the Futures market with a Futures broker. This mean...
As far as I understand there is a difference between a 233 tick chart on one platform with one data feed and another platform with a different data feed. Yes, price goes the same places but candles sometimes have a different open or close.... I have even encountered a bar or two more on the same charts with different data feeds.

We can both upload a chart here if you'd like ( tick chart) and there will be differences.

Edit: that's why I'm not very keen on tick charts.
  • #21,351
  • Nov 16, 2016 1:40pm Nov 16, 2016 1:40pm
Quoting jmezz
{quote} Some images show your entry line as the low of the last bullish candle and some show the entry line as the open of the last bullish candle. You use the low of the last bullish candle right? And what is your b/e protocol? What helped me with holding onto trades was locking in ~5pts. This made me feel better mentally than settling for a b/e1 and allowed me to sit back a little and let the trade run.
Trading with an expectation is super important. My expectation is always a one to one minimum. Your trade management must be mechanical and allow the trade to work towards the expectation. Your stop only moves when your trailing rules are met. It either did or did not meet the criteria for the rule. Sure even I sometimes get over aggressive on trade management from time to time and that is ok but we must still have mechanical guidelines or the emotions will take over and screw you in the long run. Trust me this comes from experience.
If you fail to plan, you plan to fail.
  • #21,352
  • Nov 16, 2016 1:43pm Nov 16, 2016 1:43pm
Quoting jmezz
YM +30 YM bailing me out today, back green and hit daily quota. {image}
wow. same entry /same exit. You must be the best trader alive because I'm the best trader alive .

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  • #21,353
  • Nov 16, 2016 1:43pm Nov 16, 2016 1:43pm
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Got stop out for 24.7 pip. Exit was due to a stop loss place above the candle marked by the red horizontal line. The reason for placing the stop loss was due to both candle shown by the blue arrow suggesting there is weakness in selling, and although price did close below the previous NSL and make a new NSL, it didn't close by that many pip.
  • #21,354
  • Nov 16, 2016 1:44pm Nov 16, 2016 1:44pm
Quoting Mr. Pip
{quote} Trading with an expectation is super important. My expectation is always a one to one minimum. Your trade management must be mechanical and allow the trade to work towards the expectation. Your stop only moves when your trailing rules are met. It either did or did not meet the criteria for the rule. Sure even I sometimes get over aggressive on trade management from time to time and that is ok but we must still have mechanical guidelines or the emotions will take over and screw you in the long run. Trust me this comes from experience.
I edited my post to say that I lock in ~5pts at the test of structure.
  • #21,355
  • Nov 16, 2016 1:47pm Nov 16, 2016 1:47pm
Quoting Harmonic1976
{quote} I was expecting a temporary pullback but yes, the biggest challenge I have is not seeing and understanding your strategy or market structure, its holding on to let profits run. I know price doesn't move in a straight line typically (unlike the previous trades)... it's hard for me to see that many points on the table and potentially giving that up when reward is > risked amount. its my biggest obstacle and once overcome, I think I will be move me closer to joining you in the top 10% at that point. I have recently taken steps to help with...
Don't worry about the short term corrections. Why were you expecting a correction at that level? What was your overall expectation and profit target? Remember the market sometimes needs room I only go to a BE at a test of immediate structure id the distance is large because of a large swing you can get to a BE at test of strong structure to the left or the 61.8 of the continuation. I don't do this I just get to a BE and let the trade run it's course.
If you fail to plan, you plan to fail.
  • #21,356
  • Nov 16, 2016 1:50pm Nov 16, 2016 1:50pm
Quoting Mack2013
{quote} wow. same entry /same exit. You must be the best trader alive because I'm the best trader alive . {image}
Lol, I'm surprised this doesn't happen more in here to be honest.

Nice trade man. Nice charting too, this was right at the end of a large 1:1 harmonic correction I didn't even notice.
  • #21,357
  • Nov 16, 2016 1:51pm Nov 16, 2016 1:51pm
Quoting x3m-PippiN
{quote} As far as I understand there is a difference between a 233 tick chart on one platform with one data feed and another platform with a different data feed. Yes, price goes the same places but candles sometimes have a different open or close.... I have even encountered a bar or two more on the same charts with different data feeds. We can both upload a chart here if you'd like ( tick chart) and there will be differences. Edit: that's why I'm not very keen on tick charts.
That will always be the case specially between brokers however a price level is a price level and that is a take away. you are entering based on price reaching a certain level and no matter what kind of candle bar or whatever you are using that should not change.
If you fail to plan, you plan to fail.
  • #21,358
  • Nov 16, 2016 1:53pm Nov 16, 2016 1:53pm
Quoting Mack2013
{quote} wow. same entry /same exit. You must be the best trader alive because I'm the best trader alive . {image}
The my goal is to one day be as good as you guys
If you fail to plan, you plan to fail.
  • #21,359
  • Nov 16, 2016 2:11pm Nov 16, 2016 2:11pm
Quoting Mr. Pip
{quote} The my goal is to one day be as good as you guys
  • #21,360
  • Nov 16, 2016 2:15pm Nov 16, 2016 2:15pm
Quoting Mr. Pip
{quote} That will always be the case specially between brokers however a price level is a price level and that is a take away. you are entering based on price reaching a certain level and no matter what kind of candle bar or whatever you are using that should not change.
And that's what I'm trying to explain ... where that level is..depends on the close of the candle, which differs from tick chart to tick chart. So if I place a buy limit order described by Harmonic1976's entry method and my candle closed lower than yours than my order is placed lower than yours. It's harder for me to get a fill because price has to go lower. And that's what I meant in my previous post that I was having trouble with getting filled. Because probably my tick chart wasn't accurate when I was backtesting and I was placing limit orders farther away then the close on a "true" tick chart (if such a thing even exists).

Hope you understand what I'm trying to explain.
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