Ratios & Harmonics: a Different Way to Trade | Page 1224 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

"Ratios & Harmonics: a Different Way to Trade." Summary 37 replies

Learning to trade with harmonics 11 replies

Time for Change - Pivots & Harmonics to freedom 67 replies

180 reasons to trade Harmonics and Patterns 13 replies

Group Trading based on Elliott wave and Harmonics 0 replies

Attachments: Ratios & Harmonics: a Different Way to Trade
Exit Attachments

Ratios & Harmonics: a Different Way to Trade

  • #24,461
  • Jan 31, 2017 5:52am Jan 31, 2017 5:52am
Quoting pereiraalex
Tried shorting EUR/USD, not based on structure flow but on order flow ( at least I think ). got taken out when protected the trade {image}
Reading through most of the post, most of us have to make a choice when price moves favorably with us:

1) Protect the trade by moving SL to BE
-> getting stopped out and missing the major move.
-> already earned X pips, but giving it back to BE+small pips...

2) closing the trade after making X pips
-> then missing out on major move.

3) never moving SL
-> and getting stopped out!

Of the three options, seems like the first option is still the best.

My third trade today was TERRIBLE. Price moved favorably, and I did not shift SL to BE. I went out for dinner happily. Came back and ended up price took a U-Turn and stop me out at a loss of 28 pips.

My fourth trade also got stopped out at BE. Price moved favorably +13 pips, so i shift SL to BE. Gotten stopped out as I was typing this.

But as Damian always says, a small profit is also a profit. Let's be content with it.

Maybe January is a bad month hahaha! Or some evil broker is hunting stops.
  • #24,462
  • Jan 31, 2017 5:57am Jan 31, 2017 5:57am
Quoting Mr. Pip
Decided to get aggressive because of the volatility but got taken out at +18 point by guess what other point {image}
Ok this is becoming more than a little coincidental, that's like 4 trades in a row haha.
  • #24,463
  • Jan 31, 2017 6:06am Jan 31, 2017 6:06am
Quoting jmezz
{quote} Ok this is becoming more than a little coincidental, that's like 4 trades in a row haha.
I know got to fix that crap asap. I'm being to precise to structure and got giving it room. Wait I have a better idea, this is brilliant how about I follow my trade management rules and not get overly aggressive. Yes, I'm sure I've read that somewhere. Of course it's in my trade plan. Stupid me!
If you fail to plan, you plan to fail.
  • #24,464
  • Jan 31, 2017 6:13am Jan 31, 2017 6:13am
Quoting Mr. Pip
{quote} I know got to fix that crap asap. I'm being to precise to structure and got giving it room. Wait I have a better idea, this is brilliant how about I follow my trade management rules and not get overly aggressive. Yes, I'm sure I've read that somewhere. Of course it's in my trade plan. Stupid me!
I think what happened is someone created a "Damian" algo and they've got all your trades mapped out
  • #24,465
  • Jan 31, 2017 6:13am Jan 31, 2017 6:13am
GM Traders,

Last day of the month let's see how we finish her. I will catch up later today on that chart from over the weekend. I wanted to make a short video to explain a couple of things but this crappy cough is still an issue. I will try to do it today as well as catch up on the other post from over night. Let me take a look and see what we have going on today. Standby.
If you fail to plan, you plan to fail.
  • #24,466
  • Jan 31, 2017 6:22am Jan 31, 2017 6:22am
We have some scheduled volatility at 1000 hrs so we will be aware of that to see how we adjust for the potential movement of price. We to have a market that has entered into some consolidation and the bulls have been able to record only a small portion of the territory lost to the bears. Heavy volume continues on the bears so imbalance would favor the bears. The bears are aggressively defending the 870 area while the bulls are putting resources at the 828 area to defend as well.

The expectation is for a NSL with a series of complex corrections favoring the bears. Lets see what the resting orders at the open bring and how we can position ourselves. Bias is bearish but I can see myself looking for longs at the lows if weakness comes to the bears.
Attached Image (click to enlarge)
Click to Enlarge Name: YM 03-17 (233 Tick) 2017_01_31.png Size: 35 KB
If you fail to plan, you plan to fail.
  • #24,467
  • Jan 31, 2017 6:39am Jan 31, 2017 6:39am
Still some buyers around let's see if we can get better RR
Attached Image (click to enlarge)
Click to Enlarge Name: YM 03-17 (233 Tick) 2017_01_31.png Size: 51 KB
If you fail to plan, you plan to fail.
  • #24,468
  • Jan 31, 2017 6:42am Jan 31, 2017 6:42am
There come the bulls let's see what they do if anything. They will try to defend the area as I stated before the open
Attached Image (click to enlarge)
Click to Enlarge Name: YM 03-17 (233 Tick) 2017_01_31.png Size: 56 KB
If you fail to plan, you plan to fail.
  • #24,469
  • Jan 31, 2017 6:49am Jan 31, 2017 6:49am
The bulls are struggling but I need way better RR on my short on the sidelines at the moment.
If you fail to plan, you plan to fail.
  • #24,470
  • Jan 31, 2017 6:55am Jan 31, 2017 6:55am
ABCD completes at the 800 area
Attached Image (click to enlarge)
Click to Enlarge Name: YM 03-17 (233 Tick) 2017_01_31.png Size: 60 KB
If you fail to plan, you plan to fail.
  • #24,471
  • Jan 31, 2017 6:57am Jan 31, 2017 6:57am
Long a bit tough to take it with the bears attacking but we will see the bulls should have some urgency in this area
Attached Image (click to enlarge)
Click to Enlarge Name: YM 03-17 (233 Tick) 2017_01_31.png Size: 66 KB
If you fail to plan, you plan to fail.
  • #24,472
  • Jan 31, 2017 7:01am Jan 31, 2017 7:01am
Let's see so far not too great but they may get the memo soon let's go bulls
Attached Image (click to enlarge)
Click to Enlarge Name: YM 03-17 (233 Tick) 2017_01_31.png Size: 68 KB
If you fail to plan, you plan to fail.
  • #24,473
  • Jan 31, 2017 7:04am Jan 31, 2017 7:04am
Stopped out I had accounted for the extra risk of going against the current but only entering with 4 contracts.
If you fail to plan, you plan to fail.
  • #24,474
  • Jan 31, 2017 7:08am Jan 31, 2017 7:08am
looking to short closer to 800
If you fail to plan, you plan to fail.
  • #24,475
  • Jan 31, 2017 7:11am Jan 31, 2017 7:11am
Quoting Mr. Pip
{quote} I know got to fix that crap asap. I'm being to precise to structure and got giving it room. Wait I have a better idea, this is brilliant how about I follow my trade management rules and not get overly aggressive. Yes, I'm sure I've read that somewhere. Of course it's in my trade plan. Stupid me!
When you said aggressive, do you mean shifting SL to BE quickly so as to protect the trade?
  • #24,476
  • Jan 31, 2017 7:13am Jan 31, 2017 7:13am
Quoting kelvinyun
{quote} When you said aggressive, do you mean shifting SL to BE quickly so as to protect the trade?
Yes I've been more aggressive then my rules called for and left money on the table. No big deal.
If you fail to plan, you plan to fail.
  • #24,477
  • Jan 31, 2017 7:26am Jan 31, 2017 7:26am
Quoting Mr. Pip
{quote} Yes I've been more aggressive then my rules called for and left money on the table. No big deal.
OK thanks!

That will be my rule also.

Just watched your video on trade management.

15:21 "Sometimes you just have to be patient and let price do its thing, trust in your analysis, trust in your skill set, give the trade the room it needs to work and do its thing."

And i deeply feel this lesson. My last trade for today was taken out at BE+1 pip. And price resumed its trend to reach 135 pips.
  • #24,478
  • Jan 31, 2017 7:29am Jan 31, 2017 7:29am
Sucks might not get the chance to enter at a good price but I can't get suckered into a trade here.
Attached Image (click to enlarge)
Click to Enlarge Name: YM 03-17 (233 Tick) 2017_01_31.png Size: 48 KB
If you fail to plan, you plan to fail.
  • #24,479
  • Jan 31, 2017 7:30am Jan 31, 2017 7:30am
Quoting kelvinyun
{quote} OK thanks! That will be my rule also. Just watched your video on trade management. 15:21 "Sometimes you just have to be patient and let price do its thing, trust in your analysis, trust in your skill set, give the trade the room it needs to work and do its thing." And i deeply feel this lesson. My last trade for today was taken out at BE+1 pip. And price resumed its trend to reach 135 pips.
I know it's a kick in the balls
If you fail to plan, you plan to fail.
  • #24,480
  • Jan 31, 2017 7:32am Jan 31, 2017 7:32am
Quoting Mr. Pip
Sucks might not get the chance to enter at a good price but I can't get suckered into a trade here. {image}
i almost entered short with the idea of a 10 pip SL. now, the best zone for short is 815 i think, but is price getting there?
7 traders viewing now