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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

  • #24,881
  • Feb 7, 2017 11:26am Feb 7, 2017 11:26am
So the month started out rough. I've taken 8 trades so far and only 2 have been winners so only 25% profitable but one trade put a nice dent into draw down. RR is so important! So is maximizing what the trade can give you beyond your targets.

I also told you that I would consider looking for shorts at the 46- 50 area and why (context) now I did not like how price got there and I did not get a meaningful rotation so I did not engaged. But look at how price reacted to the area. Why do you think this is and how did I anticipate this?

As a seller where would you feel better about taking on risk considering everything that is around you? That is context.
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If you fail to plan, you plan to fail.
  • #24,882
  • Feb 7, 2017 11:28am Feb 7, 2017 11:28am
Going to have lunch with the wife and later I will look at the AUS trades that our friend wanted me to comment on and also the video. Thanks to everyone for your patience and understanding lots going on here at home.
If you fail to plan, you plan to fail.
  • #24,883
  • Feb 7, 2017 12:01pm Feb 7, 2017 12:01pm
US30 -62T

Eatting some pain. ignored my logic that was written down which usually helps and still jumped in. Not happy about that. &(^*'en early entries will kill me.

this was my thought process....
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  • #24,884
  • Feb 7, 2017 12:39pm Feb 7, 2017 12:39pm
Quoting Mack2013
US30 -62T Eatting some pain. ignored my logic that was written down which usually helps and still jumped in. Not happy about that. &(^*'en early entries will kill me. this was my thought process.... Chart.png;2176970 Chart2.png;2176973 Chart3.png;2176975 Chart4.png;2176976 {image} {image} {image} {image}
still in . Bulls look.... uhmmm how can I put it politely.... like waiting for dial up connection.

connect you mother (*&^*&^%.

Oh no , I'm on hold

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  • #24,885
  • Feb 7, 2017 1:11pm Feb 7, 2017 1:11pm
Quoting Mack2013
{quote} still in . Bulls look.... uhmmm how can I put it politely.... like waiting for dial up connection. connect you mother (*&^*&^%. Oh no , I'm on hold Chart 5.png;2177041 {image}
Hey Mack - Looks like a NSL at 7:51, then a second at 8:30. In hindsight obviously the pullback around 9:08 would have been the opportunity to go short. Were you intending to trade against expectation?

The main "swing" that you have drawn maybe too general/broad? if anything, even ignoring the first "NSL" at 7:51 ... the 8:30 NSL looks like a clear indication that the bears are in control since they broke the swing from 6:35-6:38.

Curious to your take on it, not trying to criticize in any way, just opening discussion for orderflow.
  • #24,886
  • Edited 1:49pm Feb 7, 2017 1:34pm | Edited 1:49pm
Quoting Mr. Pip
more {image}
Congrats to your trade. I prefer to read such news from you.


I entered short a bit too early, so I started a rescue mission. Since I had to go, I closed when I was positive. Price went finally nicely down. I wanted to avoid to get stuck in a range.

I need the money, I just bought the license for Ninja.
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  • #24,887
  • Feb 7, 2017 1:53pm Feb 7, 2017 1:53pm
Quoting evocpr19
{quote} Congrats to your trade. I prefer to read such news from you. I entered short a bit too early, so I started a rescue mission. Since I had to go, I closed when I was positive. Price went finally nicely down. I wanted to avoid to get stuck in a range. I need the money, I just bought the license for Ninja. {image}
Congratulation
  • #24,888
  • Feb 7, 2017 2:25pm Feb 7, 2017 2:25pm
Quoting kelvinyun
Dear fellow traders, Introduction e45ad2d03454803382d5cd8bc200af0c.jpg;2176767 About a month ago, I begun reading Damian's post. Since 10th January, I started PM Damian. I stumbled. I had questions. And I asked him for help. And he explained. On 20th January, I started following "Ratios and Harmonics". Over the next several weeks, I spent on average 4 - 6 hours a day reading through these post (by everyone), and watch, and re-watch those Youtube videos. Have yet to finish all those postings and videos. Still a long way to go. Forget everything else...
Thank you for that! Very thoughtful and it means so much more to those putting in the hard work to hear thing like this from other traders that are on the same path. Thanks for sharing your experience and for the very nice comments as well!
If you fail to plan, you plan to fail.
  • #24,889
  • Feb 7, 2017 2:27pm Feb 7, 2017 2:27pm
Quoting evocpr19
{quote} Congrats to your trade. I prefer to read such news from you. I entered short a bit too early, so I started a rescue mission. Since I had to go, I closed when I was positive. Price went finally nicely down. I wanted to avoid to get stuck in a range. I need the money, I just bought the license for Ninja. {image}
Well done!
If you fail to plan, you plan to fail.
  • #24,890
  • Feb 7, 2017 2:34pm Feb 7, 2017 2:34pm
Forextrading201,

Good afternoon. This is what today's session had to offer in terms of harmonics, ratios, confluence, price action and Fibonacci.

Unfortunately for me, I did not capitalize on many of these trades as I am still learning and didn't quite aknowleged them in real time.
However, the proof and results of Damian's generosity, wisdom and time is paying off.

I can't thank you enough for all you do for all of us students.

Have a nice day,

Antonio
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  • #24,891
  • Feb 7, 2017 2:35pm Feb 7, 2017 2:35pm
Quoting marwan71
I want to share one trade here I took today and loss was -24 pips , What Ived noticed that I took the trade in gray rectangle area which I thought its supply / demand area . will I believe lot of traders will consider the same area as supply/demand but I figure out its not , as its resistance area yes but not any support / resistance area is also supply / demand area . I was reviewing this trade and I want to know why I lost it , so I found out that we can trade in supply /demand area and not just support / resistance, Now how to differentiate is...
I does not matter the difference really. More importantly is the assess the strength of the attack on the price level. There is a general expectations for these areas to hold unless they are approached with strength. Consider that and also the context where would in this case the sellers feel comfortable taking on risk?
If you fail to plan, you plan to fail.
  • #24,892
  • Feb 7, 2017 2:38pm Feb 7, 2017 2:38pm
Quoting Harmonic1976
{quote} Hey Mack - Looks like a NSL at 7:51, then a second at 8:30. In hindsight obviously the pullback around 9:08 would have been the opportunity to go short. Were you intending to trade against expectation? The main "swing" that you have drawn maybe too general/broad? if anything, even ignoring the first "NSL" at 7:51 ... the 8:30 NSL looks like a clear indication that the bears are in control since they broke the swing from 6:35-6:38. Curious to your take on it, not trying to criticize in any way, just opening discussion for orderflow.
I see what your saying and your definitely right. But its a personal problem that I haven't seen others have. My stops are to wide to benefit from short term order flow. even if I have it under my entry, i'm still looking at a 15 -20 pip stop and my entries are far from perfect as you can see. I often enter too early. A problem that I've been struggling to correct consistently but have made some headway. So I got to give the trade some room. So with that being said, I have to look at the bigger picture and ask,"what is price likely to do".

Time is also a factor. I get 4 hours but its the afternoon market. which is 50/50 sometimes with respect to volatility. It is what it is so short term order flow can be hazardous. Basically I would like the order flow to align but when they don't, I side with L/T.

But structure has an important part and a lot of times the saying like "support acts as resistance" and vise versa hold true.

As you can see from my game plan that my plan was on par (minus the bullish slugs). Just my entry sucked. and my time allow may not permit me to see price fulfill my expectations which blows sometimes. currently, i'm just playing it out. I admit, I jumped the gun and didn't wait for the weakness that I should of been looking for.

Game plan
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Bigger picture - I guess the short term short would have been better in hindsight (especially with the strength down) but my expectation was still a NSH and decided to wait for price to do that.
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Swing ID
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Edit: trade looking bad, might get stopped out
  • #24,893
  • Feb 7, 2017 2:38pm Feb 7, 2017 2:38pm
Quoting Mr. Pip
Taken out. nice win. One trade erased today and a part of yesterday. See the importance of good trade management and maximizing RR? That is why losses do not matter. We manage draw down mechanically. I know that a few well managed trades will undo a handful of losing ones. {image}
Wish I had your trade management skills.

There's always something to strive for, right?
  • #24,894
  • Feb 7, 2017 2:41pm Feb 7, 2017 2:41pm
Quoting wigtrade
{quote} one reason support often becomes resistance in my opinion is underwater traders getting out as close to breakeven as possible, see chart for one possible explanation {image}
Yes there is a lot of truth to that but more importantly these areas are decision making areas and foot prints are visible in these zone. It is way easier to make decisions in areas where the market in general has made them. There is a sense of safety and security for traders to act in a manner that reflects what has already happened at those price levels.
If you fail to plan, you plan to fail.
  • #24,895
  • Feb 7, 2017 3:06pm Feb 7, 2017 3:06pm
Quoting wigtrade
{quote} Hi Damian I'd appreciate your assessment on my 2x AU trades today when you get some time, I think I may be managing too tightly and I sometimes struggle to distinguish pullbacks from order flow changes. Many thanks
I think both your trades were executed well and I agree with your reason and logic. Your second trade offered a lower probability due to the severe breakdown in price action but at RR justified the entry.

Next my friend!
If you fail to plan, you plan to fail.
  • #24,896
  • Feb 7, 2017 3:07pm Feb 7, 2017 3:07pm
Quoting jmezz
{quote} Wish I had your trade management skills. There's always something to strive for, right?
Beginners luck.
If you fail to plan, you plan to fail.
  • #24,897
  • Feb 7, 2017 3:14pm Feb 7, 2017 3:14pm
Quoting Tonete
Forextrading201, Good afternoon. This is what today's session had to offer in terms of harmonics, ratios, confluence, price action and Fibonacci. Unfortunately for me, I did not capitalize on many of these trades as I am still learning and didn't quite aknowleged them in real time. However, the proof and results of Damian's generosity, wisdom and time is paying off. I can't thank you enough for all you do for all of us students. Have a nice day, Antonio {image}
Thank you Antonio nice to see you posting. I will use your chart as an example to the trader who posted those remarks. I will do so in a video not for his or her benefit as this person sound more like a broken trader who is ready to jump off a cliff but more for the benefit of the newer traders and those that might be influenced by senseless comments.

Thank you again and I love to see how you have grown and continue to grow. It's not always easy to see these thing in real time but if you can capture at lease have of them your account will quickly and continuously give you high 5s.
If you fail to plan, you plan to fail.
  • #24,898
  • Feb 7, 2017 3:22pm Feb 7, 2017 3:22pm
Quoting Mack2013
{quote} I see what your saying and your definitely right. But its a personal problem that I haven't seen others have. My stops are to wide to benefit from short term order flow. even if I have it under my entry, i'm still looking at a 15 -20 pip stop and my entries are far from perfect as you can see. I often enter too early. A problem that I've been struggling to correct consistently but have made some headway. So I got to give the trade some room. So with that being said, I have to look at the bigger picture and ask,"what is price likely to do"....
Small loss , a lot of pain

US30 -62T (-10)
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  • #24,899
  • Feb 7, 2017 3:27pm Feb 7, 2017 3:27pm
Quoting Mr. Pip
{quote} I think both your trades were executed well and I agree with your reason and logic. Your second trade offered a lower probability due to the severe breakdown in price action but at RR justified the entry. Next my friend!
Great just what I needed to hear thank you Massa
Bulls nor Bears may hide their intent.
  • #24,900
  • Feb 7, 2017 3:41pm Feb 7, 2017 3:41pm
Quoting Mack2013
{quote} Small loss , a lot of pain US30 -62T (-10) Chart 9.png;2177243 {image}
Nice graceful exit Mack shake it off.
If you fail to plan, you plan to fail.
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