After the fact.This is to convince me that trading ratio & harmonic is very powerful. I identify the PRZ in confluence with 50% of xa. TP at least 38.2% of xa but 23.6% of xa will I think will give higher hit rate. Still learning day by day
Ratios & Harmonics: a Different Way to Trade
- #23,302
- Jan 5, 2017 7:17am Jan 5, 2017 7:17am
- | Joined Mar 2016 | Status: Trader | 1,068 Posts
{quote} Short question Jmezz: Could you please point out where you set your SL (I mean: how big would have been your tolerance). I saw this PA in realtime, but did not have the nuts to enter at this point. Thank you in advance for your reply. Update: I ended with +1.5, since price hit my protected entry.
I almost always set my stop to 1tick beyond the leg that I'm playing. However, I'll deviate from this when I'm playing a reversal and I think that we've put in the HOD or LOD. In this scenario I'll set my stop to 1 tick above the HOD or LOD as long as the stop size is reasonable.
I really do not like to risk more than 17-18pts / trade. If I have some profit for the day then there have been times where I've taken on a little more risk but that's because I have a cushion already built.
Here is where my stop was on yesterday's trade:
- #23,304
- Edited 9:40am Jan 5, 2017 9:08am | Edited 9:40am
- Joined Mar 2008 | Status: He who believes has eternal life. | 3,764 Posts
The things that we love tell us what we are Thanks Redsword11 and Tim Morge
- #23,305
- Edited 9:29am Jan 5, 2017 9:09am | Edited 9:29am
- Joined Mar 2008 | Status: He who believes has eternal life. | 3,764 Posts
The things that we love tell us what we are Thanks Redsword11 and Tim Morge
- #23,306
- Jan 5, 2017 9:14am Jan 5, 2017 9:14am
- | Joined Mar 2016 | Status: Trader | 1,068 Posts
YM +1, -4 = -3 today.
Don't have patience for trading today, done for the day.
Don't have patience for trading today, done for the day.
- #23,307
- Edited 11:21am Jan 5, 2017 9:44am | Edited 11:21am
- Joined Mar 2008 | Status: He who believes has eternal life. | 3,764 Posts
The things that we love tell us what we are Thanks Redsword11 and Tim Morge
- #23,308
- Edited 10:21am Jan 5, 2017 9:45am | Edited 10:21am
- | Joined Feb 2013 | Status: Trader | 170 Posts
This might be an interesting trade, that I managed according to Mr.Pip's rules of adding to a position. I was aware that I might be entering a bit early and decided that I would add to my position if it would reach my destined zone. I did not get a great rotation and had a bit inner resistance coming through because the pip-size on the FDAX is a bit bigger than on YM, but it turned out well in the end. Stop was right above the high of my swing. I did get taken out too early, because I trailed too tightly (maybe because it was a big position for me). I will keep using this technique in certain spots, thank you Mr. Pip!
- #23,310
- Jan 5, 2017 12:28pm Jan 5, 2017 12:28pm
- | Joined Mar 2016 | Status: Trader | 1,068 Posts
YM +48 = +45 total today.
During large dumps or rips I'll consult a higher timeframe to get a clearer picture on where we could be heading. I located a demand zone on the 15m starting at 754 and watched what happened with PA. Overall here's what I saw:
During large dumps or rips I'll consult a higher timeframe to get a clearer picture on where we could be heading. I located a demand zone on the 15m starting at 754 and watched what happened with PA. Overall here's what I saw:
- #23,313
- Jan 5, 2017 4:01pm Jan 5, 2017 4:01pm
{quote} Mistake number one: trying to use too many swings to reference. you are doing fine. but this is critical in the future. you can use the smaller swings to confirm or weaken your expectations, changing it from likely to unlikely and vise-versa. this will be explained better once you've reviewed order flow and complex corrections. Warning: it is tricky. sometimes you can get caught up with the smaller swings and lose sight of your overall expectations. I am still confused about one thing - after reviewing the same chart, I am still coming up...
I tried to answer only by looking at structure analysis cause our friend (as far as I know) hasn't studied orderflow. I didn't want to confuse him but guess it's hard to shut down that part of the brain (like Damian said in one of his vids).
You are correct x3m I haven't got into order flow yet and I appreciate you keeping to the lesson I am on
. A big thank you to everyone in the thread for the help!
