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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

  • #23,861
  • Jan 19, 2017 2:37pm Jan 19, 2017 2:37pm
I have question, when you trade against long term order flow and expectation which is let say NSL , but price made NSH in current order flow and hit let say 61% or 78% of the long term order flow , which direction shall we trade ? and RR of both long term and current order flow and expectation are good
  • #23,862
  • Jan 19, 2017 3:03pm Jan 19, 2017 3:03pm
Quoting marwan71
I have question, when you trade against long term order flow and expectation which is let say NSL , but price made NSH in current order flow and hit let say 61% or 78% of the long term order flow , which direction shall we trade ? and RR of both long term and current order flow and expectation are good
I'd say that just by expectation isn't enough information. I'd have to factor in orderflow and structure. Are the bears gaining strength or the bulls. Which expectation is more reasonable to be fulfilled ?
  • #23,863
  • Jan 19, 2017 3:06pm Jan 19, 2017 3:06pm
Quoting maxx7
Hello Guyz, Question : do You use some kind of maximum drawdown for the day? That can be in terms of money lost or number of loser trades or whatever. Please post your rules and reasons Thank You very much
I do not Since we do not know for certain which trades will win or lose with 100% certainty then I take every setup within my session. The best answer would be that it depends more on you then anyone else. What is your emotional state after a couple of losses? if you are a wreck then you need to step away and live to fight another day.

The fact is some traders feel the a max DD for the day is a good way to protect the account. I say that is crap if you have a money management formula that you use then that is the best way to protect and recover from DD. You just can't bring the past into the future. The last trade is in the past however good or bad it was it needs to stay there.
If you fail to plan, you plan to fail.
  • #23,864
  • Jan 19, 2017 3:08pm Jan 19, 2017 3:08pm
Quoting Harmonic1976
Great video, the live trade videos and your commentary are great lessons!
Thank you!
If you fail to plan, you plan to fail.
  • #23,865
  • Jan 19, 2017 3:09pm Jan 19, 2017 3:09pm
Quoting ujku80
Damian, regarding the recent live trading session, your comments/thoughts on accumulating orders and consumption were new to me and very helpful. I don't think I've come across that logic before. So it was a very nice learning session i'd say. Still a lot to learn from you, for me at least. It's so good that u're doing this. cheers mate
Thanks Arjan! It's nice to see you around again.
If you fail to plan, you plan to fail.
  • #23,866
  • Jan 19, 2017 3:14pm Jan 19, 2017 3:14pm
Quoting Rachid34
Dear mr. Pip and trading Friends, Like all the new guys i am also trying to learn as much and good as i can. Because i also have a fulltime job i can only trade the hier time frames and set mi stops and limit orders. I am trading the USD/JPY. I tried to discover the NSL and LH and i set mi Limit order on the 50% 113.740 for a sell. First it seems like the price was weekening but in a moment the price dit shoot op north. Can you please check mi chart and give me feedback. Thank you. I am sorry, i don't know how to attache a screenshot so i did add...
If you look at the previous swings you can see that the buyers and seller are aggressive and produce good volume. There is no question that price will have issues coming down. I don't get worked up about a very strong candle you need more information. You are looking at a correction that has corrected very deep and with great momentum I would not be looking to short this could very easily turn into a complex correction or fail on the expectation.
If you fail to plan, you plan to fail.
  • #23,867
  • Jan 19, 2017 3:18pm Jan 19, 2017 3:18pm
Quoting liemo
{quote} Great Video Damien. When you draw the zones why dont you use the T233 chart as you are trading this timeframe rather than moving up Timeframes? Or why T1597 and not 15mins or 30mins as this will have clearer highs/lows? If we trade the 15 mins does that mean its better to use the 1hr chart to draw the zones? Just trying to understand the logic/reason behind why you do this.
I covered this in the beginning of the video. I only use the 1597T because when I condense the chart I can see more history. The 233T only gives me a couple of days and although this is good enough for intraday SR levels the SD level happen over longer periods of time.

I don't like to use the time based charts simply because they are messier and often have long tails. They are more emotionally charged in my opinion.
If you fail to plan, you plan to fail.
  • #23,868
  • Jan 19, 2017 3:20pm Jan 19, 2017 3:20pm
Quoting DizzleFX
Jesus Christ! You have always provided great videos, but I think this video is your best yet. It showed how patience pays and how trading physiology comes into play when your trade went against you and you didn't even sweat it. You entered your trade based of facts and you stuck with it. I rewatched the first hour of this video twice already. Thanks for all you do. Bravo Zulu Mr. Pip!
Thank you Dizzle my main concern believe it or not is not losing my audience with these long sessions. It's hard to keep people engaged that long.
If you fail to plan, you plan to fail.
  • #23,869
  • Jan 19, 2017 3:25pm Jan 19, 2017 3:25pm
Quoting maxx7
My trades for today : Gbp/Usd : Long after a retracement from a good NSH (good projection+decent momentum). Waited for a rotation that happened actually some pip before the 38,2fib. A bit more shallow than expected but strong and clear. Price moved in favour for approximately 20 pips, and as it tested and broke the previous high, I moved the stop at BE+2, where i was stopped out on the following retracement (damn! 18,2pips given back!) gbpusd1901B.JPG;2146949 Usd/Jpy : Waiting a signal for a long after a weak NSH just after...
Nice work Maxx
If you fail to plan, you plan to fail.
  • #23,870
  • Jan 19, 2017 3:26pm Jan 19, 2017 3:26pm
Quoting Happy_Sniper
Great thanks to you Damian! I've started to read this thread a short while back and been silent so far. Can't anymore. It was amazing to watch your patience and rationale throughout the stream. And you were right, the session was a tough one, but a beautiful lesson. Thanks again!
Very kind of you Sniper!
If you fail to plan, you plan to fail.
  • #23,871
  • Jan 19, 2017 3:30pm Jan 19, 2017 3:30pm
Quoting stavrogijn
{quote} Fewer contracts might play a role, too.
No that would mean that there is fear in the process. I am a block of Ice when I trade. I just have clear areas there I want to take entries and sometime price just does not get there. It really does not affect me how many contracts I trade. I believe in every trade I take.

I only lesson contracts when I feel I am entering early or the RR is not great because it's a shallow correction.
If you fail to plan, you plan to fail.
  • #23,872
  • Jan 19, 2017 3:35pm Jan 19, 2017 3:35pm
Quoting ujku80
{quote} Ohhh gees, i know how u feel. i've been there myself. Not once, not twice...4 times actually. GL and listen to Damian when tells to stop for today. Come back tomorrow or when u're really cool without emotions. Dont try revenge trading. Its the worse thing to do after that bad luck. GL
Never revenge trade.
If you fail to plan, you plan to fail.
  • #23,873
  • Jan 19, 2017 3:40pm Jan 19, 2017 3:40pm
Quoting oh.crap
{quote} Hi Damian. You said you didn't take this sell signal as you still see buyers there, is this because of the bullish candle sending the price up to that are or are there other things you see to add to it? Hi to everyone in the group. I have been reading for a couple of weks now and hope to start participating middle of next week. I managed to be at the live trading yesterday and did find it very good to be watching you trade live and your thoughts on it. Thanks.
Hilarious name oh.crap I saw rejection on the bottom of the candle and good decision candle by the buyers. Looking forward to your posts.
If you fail to plan, you plan to fail.
  • #23,874
  • Jan 19, 2017 3:41pm Jan 19, 2017 3:41pm
Quoting Ren1058
For those using FXCMs trade station here is a link for range bars that you can simply upload into the indicators and use on the chart, works well http://fxcodebase.com/code/viewtopic.php?f=17&t=3614&hilit=range+bar {image}
Range bars are a great alternative. I use to use them for intraday 8 and 6 are great settings. Thank you for sharing.
If you fail to plan, you plan to fail.
  • #23,875
  • Jan 19, 2017 3:42pm Jan 19, 2017 3:42pm
Quoting ujku80
{quote} Oh crap, welcome to the blogg. I can't resist but telling you that u have such a damn inspiring name and avatar...oh crap, u're the only thing that's missing here. Let's hope for situations where we don't call so much your name (during trading especially). seriously, gl with trading and hope you're called "thank.god" or "i.nailed.it" or "wall.street.is.my.bitch" etc etc.... cheers
If you fail to plan, you plan to fail.
  • #23,876
  • Jan 19, 2017 3:43pm Jan 19, 2017 3:43pm
Quoting Forexgineer
Rocky, I was curious if you would possibly share your parameters for your OFA software. I'm playing around with it and was curious. I'm not able to message you or reply on your other thread due to my 'junior' status, or else I wouldn't post this request here. Also, GREAT live session Mr. Pip
Thank you no worries. Rocky is welcomed to post anything here.
If you fail to plan, you plan to fail.
  • #23,877
  • Jan 19, 2017 3:47pm Jan 19, 2017 3:47pm
Quoting ujku80
{quote} Oh crap, welcome to the blogg. I can't resist but telling you that u have such a damn inspiring name and avatar...oh crap, u're the only thing that's missing here. Let's hope for situations where we don't call so much your name (during trading especially). seriously, gl with trading and hope you're called "thank.god" or "i.nailed.it" or "wall.street.is.my.bitch" etc etc.... cheers

Thanks for the welcome.

There is a reason behind the name which I'm sure I will reveal someday
Oh Crap I've done it again
  • #23,878
  • Jan 19, 2017 3:50pm Jan 19, 2017 3:50pm
Quoting marwan71
I have question, when you trade against long term order flow and expectation which is let say NSL , but price made NSH in current order flow and hit let say 61% or 78% of the long term order flow , which direction shall we trade ? and RR of both long term and current order flow and expectation are good
On the side that has the strongest momentum and greater volume.
If you fail to plan, you plan to fail.
  • #23,879
  • Jan 19, 2017 3:52pm Jan 19, 2017 3:52pm
Thanks great advice as always
  • #23,880
  • Jan 19, 2017 3:53pm Jan 19, 2017 3:53pm
Tomorrow my wife will be having some medical test so I will only be around for the first half of the session. Hopefully the market will give me an opportunity to make some green early session. I will be back later to catch up.
If you fail to plan, you plan to fail.
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