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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

  • #22,181
  • Dec 6, 2016 9:33am Dec 6, 2016 9:33am
Quoting Mr. Pip
{quote} I'm expecting the bulls to do something around here and I'll see if I get the chance to join in the short {image}
Following
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The things that we love tell us what we are Thanks Redsword11 and Tim Morge
  • #22,182
  • Dec 6, 2016 9:35am Dec 6, 2016 9:35am
Short the YM
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If you fail to plan, you plan to fail.
  • #22,183
  • Dec 6, 2016 9:35am Dec 6, 2016 9:35am
Quoting Mr. Pip
{quote} Welcome eaglestar.
Thank you sir.
The things that we love tell us what we are Thanks Redsword11 and Tim Morge
  • #22,184
  • Dec 6, 2016 9:42am Dec 6, 2016 9:42am
Quoting Mr. Pip
Short the YM {image}
Good Morning Mr. Pip!

I'm not seeing how that is short, could you mark up later your reasoning? Even if a complex correction, it looks like an intra-day new-structure high?
  • #22,185
  • Dec 6, 2016 9:43am Dec 6, 2016 9:43am
Support area is still trying to hold let's see if the bears can continue. Like I said imbalance should favor the bears but it is still an area of support. May have gotten in early.
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If you fail to plan, you plan to fail.
  • #22,186
  • Dec 6, 2016 9:49am Dec 6, 2016 9:49am
Bulls are still trying to put up a fight stubborn but they should lose this fight in the long run.
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If you fail to plan, you plan to fail.
  • #22,187
  • Dec 6, 2016 9:52am Dec 6, 2016 9:52am
YM +19
TF +.2

Notes on charts.

Rocky - did you notice that 2k+ bidder on the ES jumping all over the DOM this morning? Wanted to get your opinion on what you think that was, spoofing?

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  • #22,188
  • Dec 6, 2016 9:57am Dec 6, 2016 9:57am
never a good start when first trade is a loss....
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It's a dirty job but someone's gotta do it!
  • #22,189
  • Dec 6, 2016 9:59am Dec 6, 2016 9:59am
Quoting jmezz
YM +19 TF +.2 Notes on charts. Rocky - did you notice that 2k+ bidder on the ES jumping all over the DOM this morning? Wanted to get your opinion on what you think that was, spoofing? {image} {image}
Nice work!
If you fail to plan, you plan to fail.
  • #22,190
  • Dec 6, 2016 10:00am Dec 6, 2016 10:00am
and then keep going
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It's a dirty job but someone's gotta do it!
  • #22,191
  • Dec 6, 2016 10:02am Dec 6, 2016 10:02am
Quoting LaBoca
and then keep going {image} {image} {image} {image} {image}
trade protected
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It's a dirty job but someone's gotta do it!
  • #22,192
  • Dec 6, 2016 10:06am Dec 6, 2016 10:06am
Doing better now. But the bulls still trying to come in. Bastards LOL.
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If you fail to plan, you plan to fail.
  • #22,193
  • Dec 6, 2016 10:11am Dec 6, 2016 10:11am
Damian and LaBoca with dueling positions haha.

Cool to see people take opposite trades and their reasoning for both.
  • #22,194
  • Dec 6, 2016 10:11am Dec 6, 2016 10:11am
Quoting LaBoca
{quote} trade protected {image}

LaBoca, nice trading!

Can you give a short explanation on your use of the histogram? I've studied it before but haven't really found consistency in the levels.


I messed up today on 6J... got too bored and hopped in a trade too early.
  • #22,195
  • Dec 6, 2016 10:13am Dec 6, 2016 10:13am
Quoting jmezz
Damian and LaBoca with dueling positions haha. Cool to see people take opposite trades and their reasoning for both.
Sometimes it happens one thing is for sure one of us will win.
If you fail to plan, you plan to fail.
  • #22,196
  • Dec 6, 2016 10:19am Dec 6, 2016 10:19am
Quoting Mr. Pip
{quote} Sometimes it happens one thing is for sure one of us will win.
Remember the live trading session stream where I will be live commenting and sharing my thought process and trade management. It's on Dec 15 at 0915 Eastern time. The link will be posted here that morning prior to start. It will also be recorded for those that cannot be here. I encourage everyone to make arrangements to attend.
If you fail to plan, you plan to fail.
  • #22,197
  • Dec 6, 2016 10:21am Dec 6, 2016 10:21am
Quoting Mr. Pip
{quote} It sounds like you are defining your stance on the matter. I would tell you to consult your trade plan what does it say on trade management? Just because I don't trade with a quota does not mean you don't have to or that it is less effective. You have made this approach your own and that is what I have asked you to do. It's up to the individual trader how he applies the knowledge and that will very differently from trader to trader. If you are being productive and you are satisfied with the returns. If your trading state is stable and the...
I really appreciate your response.

The quota definitely helps protect me against myself, haha. I guess it comes down to always looking to be better. Always asking am I doing the right thing? I think as traders we are professionals with asking ourselves questions like that lol.

A lot of times I am able to follow the process a bit and lock in the quota so hitting the 2 birds with 1 stone is nice. I think yesterday I maybe over-reacted to the trade outcome but it did spurn some good input from a few of you guys so it was beneficial in the end.

I do like the idea of having a monthly goal and then once hitting, allowing myself to give room for the bigger captures. That's a great suggestion and something I'm going to look into.

Quoting evocpr19
{quote} When I trade smaller swings, I am most of the time ok. However, when I try to trade the bigger moves, the success rate is currently not good. This is why I appreciate Mr. Pip's comments and chart when he trades live, even if I do not enter the trade. I also appreciate your charts with your comments. I helps me to follow the process when things happens in order to work out "where price is working towards" without hindsight. Hence, I would tend for the moment to look for smaller targets which is also more in line with my other commitments....
I'm like you in that regard. I feel much more comfortable taking the smaller more immediate swings and seem to notice them working out more vs trying to take the big swings. I'm thinking back to when I tried holding out for the big play and I don't think I'm capable of playing them correctly.

Quoting Traderjoefx
{quote} If it aint broken dont fix it.you doing just fine brother keep it up.
That tried and true phrase is so simple isn't it? Sometimes that's all it comes down to. Great point.
  • #22,198
  • Dec 6, 2016 10:22am Dec 6, 2016 10:22am
First post in this thread, Mr Pip you are a true gent sir, thank you for sharing your wisdom so freely, your method and teachings feel like a huge piece of the puzzle has fallen into place in my trading journey. Thanks to all the posters on this great thread there are some stellar contributions which I hope to add to in some small way in future. Good trading all,
cheers
Wig

thoughts on the below AU 5m setup are welcomed! I'm looking for a long opportunity from the 7440-44 level based on weak nsh and complex pullback in process with confluent harmonic completions at the 61fib and prior structure...
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Bulls nor Bears may hide their intent.
  • #22,199
  • Dec 6, 2016 10:23am Dec 6, 2016 10:23am
Quoting Mr. Pip
Doing better now. But the bulls still trying to come in. Bastards LOL. {image}
common Bulls show da bears......soz Damian.....but i'm hanging in a long
It's a dirty job but someone's gotta do it!
  • #22,200
  • Dec 6, 2016 10:24am Dec 6, 2016 10:24am
Quoting Mr. Pip
{quote} Sometimes it happens one thing is for sure one of us will win.
Since I sit in the train, I have no idea what the PA of YM is doing. Could somebody please give a short update?
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