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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

  • #23,601
  • Jan 12, 2017 3:00pm Jan 12, 2017 3:00pm
Quoting Mr. Pip
{quote} Makes up for my stupidity yesterday. I know better then taking an impulsive trade. Losing my patience and discipline is not in my trade plan so I was punished.
It happens to the best of us. Some more then they would like.
  • #23,602
  • Jan 12, 2017 3:15pm Jan 12, 2017 3:15pm
Quoting jmezz
YM -15, +10, +24, +14, -17, +12 = +28 total. Not thrilled with my trading today. Notes on chart. 2nd chart showing demand zone I was watching for bounce and 382check. Screenshot1.png;2138000 Screenshot2.png;2138004 {image} {image}
Wow. You showed a lot of patience with your 3 and 6 trade. Glad I was sidelined today. It looked like it was easier to lose money then to make it. Looking back do you think they were all high probability opportunities or just opportunities?

At least you walked away with some money.
  • #23,603
  • Jan 12, 2017 4:30pm Jan 12, 2017 4:30pm
Quoting eaglestar
Trade thoughts on Eur 5min Chart. Short on time today. There are 2 more trades in there as well, but maybe wouldn't have seen them, these are more obvious. funny where price stopped on 1hr {image} {image} {image}
After price hit the 78.6 area, I new there were sellers and took a short on the 61.8 after bars were puling back form that level. My stop was a bit higher... above the recent high, and I got in late, I should have gotten in at 78.6, but the RRR was still over 3.1:1. TP reached based on 1 to 1. Combining the Andrews Pitchfork with the Fibs and 1:1 makes it much easier to see the entries on smaller time frames.
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The things that we love tell us what we are Thanks Redsword11 and Tim Morge
  • #23,604
  • Jan 12, 2017 6:05pm Jan 12, 2017 6:05pm
Quoting eaglestar
{quote} After price hit the 78.6 area, I new there were sellers and took a short on the 61.8 after bars were puling back form that level. My stop was a bit higher... above the recent high, and I got in late, I should have gotten in at 78.6, but the RRR was still over 3.1:1. TP reached based on 1 to 1. Combining the Andrews Pitchfork with the Fibs and 1:1 makes it much easier to see the entries on smaller time frames. {image} {image}
Eaglestar, I totally agree with you. Combining Fibs with Andrews Pitchfork provides a trader with a clear road map. Structure like this gives a trader more confidence on where and when to enter a trade with minimal risk. . A good daily plan is to build a framework of market structure around price structure which it looks like you've done. Nice job on your trade.

Jmezz, I would call a profit of 28 ticks a very good day. Nothing wrong with your trades, nice work
  • #23,605
  • Jan 12, 2017 6:25pm Jan 12, 2017 6:25pm
We fly upwards gentlemen. there are a few pips in the store is fun,,,,.

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if you're doing we all have results with all
  • #23,606
  • Jan 13, 2017 3:09am Jan 13, 2017 3:09am
+19 ticks
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  • #23,607
  • Edited 5:35am Jan 13, 2017 4:00am | Edited 5:35am
Quoting jmezz
{quote} All of his charts are available if you go to his profile page and click on "images" next to "forum attachments". Just for whatever reason his attachments don't work in his thread.
thx for the heads up
It's a dirty job but someone's gotta do it!
  • #23,608
  • Edited 5:35am Jan 13, 2017 4:01am | Edited 5:35am
Quoting evocpr19
{quote} Always a bit a bad taste when a trading day starts with a loss. However, you recovered nicely. Congrats. I did nothing, since I came late to the charts and later on I had to take care of my kids.
First trade was a loss but you held true to your plan and came out net positive - learn, rinse and repeat
It's a dirty job but someone's gotta do it!
  • #23,609
  • Jan 13, 2017 8:13am Jan 13, 2017 8:13am
Quoting Mack2013
{quote} Good morning Mr.Pip, I had a question on trade management. In the past you used the 38.6 of the current swing to trail stops until you get close to your target where you get more aggressive and trail it behind the last thrust candle. Is this correct or have you modified it? I've added intra-swing lows into the process and currently updating the rules to my trade plan and want to get your input? If any body else has some input , please don't hesitate to chime in. Current Rules: Stops and targets: 1) Stops just beyond previous swing high/low...
Hello Mack sorry for the delay. Basically It's very simple how I manage my trades. It's best to keep it as mechanical as possible. Trade management is perhaps one of the toughest things we do because for many it's a very emotional process.

If I'm trading a C to D or the expectation of a NSH or NSL, I enter and get to a BE at the test of the structure high or low. The profit target is a 1:1. If that 1:1 is between the 127 and 138 Ext I take profit at the 127. If the target is beyond the 138 I start and aggressive trail once price gets past the 127. This aggressive trail is to trail just behind the last decision candle until the market takes me out.

If I see the market accelerate or that momentum is increasing I extend my target and trail aggressively beyond the 127 until the market takes me out.

This is what has worked for me the best and there is no guess work. Hope this helps.

Oh almost forgot If I'm trading a harmonic completion. I enter and draw a fib of the AD or XD depending on what it is and get to a BE at the 38% of the pattern and look to take profit at the 61.8. If price starts to run I extend for extended target of the 127 and lock in at the 61.8.
If you fail to plan, you plan to fail.
  • #23,610
  • Jan 13, 2017 8:18am Jan 13, 2017 8:18am
Quoting x3m-PippiN
+19 ticks {image} {image}
Nice job. Showed a lot of discipline on the second trade. I was just wondering , where was your profit target on the first one?
  • #23,611
  • Jan 13, 2017 8:24am Jan 13, 2017 8:24am
GM Traders, Monday is a holiday and I won't be trading also remember Wed Jan 18 is the Live Stream so plan on being there.

We have some schedules volatility around 10 AM. The market has traded back into range but not before it has made a NSL yesterday. It would be interesting to see what happens today as we have an expectation of a NSL in the longer term order flow.

From an intraday standpoint we have a range bound market at well with a bullish bias. The bulls need to drive price above 850 and shoot to get past 870 and the bears will try not to let them pass 850. We will see what the open does and who bites first. It may be a crappy trading day.
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If you fail to plan, you plan to fail.
  • #23,612
  • Jan 13, 2017 8:33am Jan 13, 2017 8:33am
Quoting Mack2013
{quote} Nice job. Showed a lot of discipline on the second trade. I was just wondering , where was your profit target on the first one?
My TP is always at first the 1:1 harmonic completion and if momentum is strong and I have locked in profit I extended it to the next structure or fib extension level.. whichever is first.

In this case it was 1:1 harmonic completion on the first trade.
  • #23,613
  • Jan 13, 2017 8:39am Jan 13, 2017 8:39am
The bulls have started aggressive. The bears tried at 850 but it looked like a hand full of taking profit. Now we are at a more critical level of 870.
If you fail to plan, you plan to fail.
  • #23,614
  • Jan 13, 2017 8:41am Jan 13, 2017 8:41am
What a shame but no room. RR sucks.
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If you fail to plan, you plan to fail.
  • #23,615
  • Jan 13, 2017 8:41am Jan 13, 2017 8:41am
Quoting Mr. Pip
{quote} Hello Mack sorry for the delay. Basically It's very simple how I manage my trades. It's best to keep it as mechanical as possible. Trade management is perhaps one of the toughest things we do because for many it's a very emotional process. If I'm trading a C to D or the expectation of a NSH or NSL, I enter and get to a BE at the test of the structure high or low. The profit target is a 1:1. If that 1:1 is between the 127 and 138 Ext I take profit at the 127. If the target is beyond the 138 I start and aggressive trail once price gets past...
Thanks you for the clarification on the process. I agree exits are a lot more difficult to time.
  • #23,616
  • Jan 13, 2017 8:55am Jan 13, 2017 8:55am
High impact news out in 6 min, no entries yet the bears held 870 let's see if the bulls come in again.
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If you fail to plan, you plan to fail.
  • #23,617
  • Jan 13, 2017 8:57am Jan 13, 2017 8:57am
I will wait till after the news to engage.
If you fail to plan, you plan to fail.
  • #23,618
  • Jan 13, 2017 9:06am Jan 13, 2017 9:06am
I see strength building on the bears but there are still buyers in the market
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If you fail to plan, you plan to fail.
  • #23,619
  • Jan 13, 2017 9:08am Jan 13, 2017 9:08am
Let's see if the bulls can test near those highs. I might get aggressive and take a short around 870
If you fail to plan, you plan to fail.
  • #23,620
  • Jan 13, 2017 9:09am Jan 13, 2017 9:09am
Area of interest offers great RR
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If you fail to plan, you plan to fail.
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