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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

  • #24,801
  • Feb 7, 2017 3:21am Feb 7, 2017 3:21am
Quoting kelvinyun
Looking to short EURUSD at 38% to 62% level. I'm at work now so I do not have Ninja trader to use. Can only use Tradingview and it does not have tick charts. Can do less bar by bar. EURUSD came down in strength and should have only a shallow correction (ie 24%) which it did. But I'm not comfortable at that level, so if it runs, then let it be. After all, it just made a failed expectation, so i'm looking to short at 38% to 62% level. EURUSD.jpg;2175434 Updates Price hit 38% and immediately had a retrace. (To fxtrading201, is this the proof you needed?)...
Love your analysis and trade , well-done
  • #24,802
  • Feb 7, 2017 4:44am Feb 7, 2017 4:44am
I'm short AU here on bear rotation
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  • #24,803
  • Feb 7, 2017 4:55am Feb 7, 2017 4:55am
Quoting x3m-PippiN
{quote} Nice work! I was going to comment on the fact that you could've let it run with aggressive trailing but then I saw that you placed your SL behind your entry candles which gives you a good R:R . I suppose you know that you are hurting the expectancy of the trade with this stop placement?
Strictly speaking i should always put SL at LH.

But, if i entered at 38% Fib level, and I put SL at LH...... that means I could lose 100% - 38% = 62%.

Moreover, I expect a shallow retracement due to the strong projection and acceptable momentum.

If my expectation of a shallow retracement fails, then its better to take a small loss.

I have some sort of unofficial rule for entry points vs SL.

Entry at 38% retracement to 62% retracement = max SL at slightly beyond 78%
Entry at 78% retracement to 100% retracement = max SL at slightly beyond 100%

If price retraced beyond 78%.... probability of an expectation failure is already very high. In that case, I have to accept that I was probably wrong about that expectation.
  • #24,804
  • Feb 7, 2017 5:00am Feb 7, 2017 5:00am
Quoting marwan71
{quote} Love your analysis and trade , well-done
Thanks. But trading while working is really tough. No time to keep watching the trade and have to close it prematurely.

No MT4. No Ninjatrader. I only have my phone and Tradingview.

Office computer ban outside software.

Night time is trading time!~

Seeing these bears losing strength now. Haven't have time to draw those things yet. I will be back after dinner.

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  • #24,805
  • Feb 7, 2017 5:08am Feb 7, 2017 5:08am
bears have turned over nicely, expect bulls to defend 7613 here
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  • #24,806
  • Feb 7, 2017 5:24am Feb 7, 2017 5:24am
we're testing previous lows, time to move stop to breakeven
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  • #24,807
  • Feb 7, 2017 5:33am Feb 7, 2017 5:33am
bulls have put in a strong double bottom, stop tightened to lock in +5. if we close above 7614 I'm out, bears need to come in here
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  • #24,808
  • Feb 7, 2017 5:46am Feb 7, 2017 5:46am
Quoting wigtrade
bulls have put in a strong double bottom, stop tightened to lock in +5. if we close above 7614 I'm out, bears need to come in here {image}
a very nice trading style here. Just like Damian would have done it. well done! Outcome of the trade itself is not important. if you follow this logic for very trade, u're profitable in the long run. green pips.
  • #24,809
  • Feb 7, 2017 5:48am Feb 7, 2017 5:48am
http://www.forexscamalerts.com/fxcm-permanently-banned-usa-fined-7-million

Those of you who have accounts with FXCM please move money out
Empower Your Mind
  • #24,810
  • Feb 7, 2017 5:49am Feb 7, 2017 5:49am
stop hit trade closed +5
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  • #24,811
  • Feb 7, 2017 5:57am Feb 7, 2017 5:57am
Quoting ujku80
{quote} a very nice trading style here. Just like Damian would have done it. well done! Outcome of the trade itself is not important. if you follow this logic for very trade, u're profitable in the long run. green pips.
thank you very much! I am trying to follow the Master's teachings, its easy when it goes your way, I find my biggest struggle is how to manage when things don't run so smoothly
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  • #24,812
  • Feb 7, 2017 5:59am Feb 7, 2017 5:59am
Quoting vqtrader
http://www.forexscamalerts.com/fxcm-permanently-banned-usa-fined-7-million Those of you who have accounts with FXCM please move money out
I've had an acc with them before i changed to futures. that was in 2015, and to tell the truth wasn't so happy with them. in this thread you could find my previous trades which were stopped for 6-8 pips without the market actually going there (meaning without any bar being printed on screen). but, it's old story now. so, sorry for those who have acc in FXCM still. it's sad that there is so much trouble to find a proper broker these days.
  • #24,813
  • Feb 7, 2017 6:03am Feb 7, 2017 6:03am
expectation remains a NSL, bulls have come back to the 6178 of previous downswing, and bears have come back in.
still some bull strength here so watching further for a strong bear rotation to short
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  • #24,814
  • Feb 7, 2017 6:05am Feb 7, 2017 6:05am
Quoting wigtrade
{quote} thank you very much! I am trying to follow the Master's teachings, its easy when it goes your way, I find my biggest struggle is how to manage when things don't run so smoothly
you seem to be doing good. And when things don't run so smoothly, ask yourself, what would Damian do in that case?! and the answer for 90% of the time, is NOTHING. follow your rules; know that u're trading with order flow, which means you are 70% on right side of the market. and that's it. if you loose, don't beat yourself up. Even Damian has bad days... so look forward to next trade. actually, a loss is part of the 30% so, after that loss, there are two winners around the corner. focus on them instead.
  • #24,815
  • Feb 7, 2017 6:08am Feb 7, 2017 6:08am
I nearly pulled the trigger here but bulls still in town
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  • #24,816
  • Feb 7, 2017 6:22am Feb 7, 2017 6:22am
bulls are strong, but really no stronger than the last time they were here,
The expectation for a NSL has weakened massively but remains in tact
The RR for a short here will be worth a trade if we see bear strength
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  • #24,817
  • Feb 7, 2017 6:24am Feb 7, 2017 6:24am
Quoting ujku80
{quote} you seem to be doing good. And when things don't run so smoothly, ask yourself, what would Damian do in that case?! and the answer for 90% of the time, is NOTHING. follow your rules; know that u're trading with order flow, which means you are 70% on right side of the market. and that's it. if you loose, don't beat yourself up. Even Damian has bad days... so look forward to next trade. actually, a loss is part of the 30% so, after that loss, there are two winners around the corner. focus on them instead.
wise words and thank you again for your encouragement
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  • #24,818
  • Feb 7, 2017 6:27am Feb 7, 2017 6:27am
what a rotation, short here
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  • #24,819
  • Feb 7, 2017 6:34am Feb 7, 2017 6:34am
Quoting wigtrade
what a rotation, short here {image}
Beautiful entry!!

Wish I could have done something. Still haven't reach home.
  • #24,820
  • Feb 7, 2017 7:16am Feb 7, 2017 7:16am
Quoting wigtrade
what a rotation, short here {image}
i'm looking at your trade from my phone (somehow i can't logg on ninjatrader) and it looks good. let's see if it breaks that 761 level. it might be smart to just let the trade run. take profit could be around 0.755 which is a strong supply zone. let's see what happens.
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