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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

  • #25,401
  • Feb 14, 2017 9:59am Feb 14, 2017 9:59am
Quoting jcgibson
Eur/Usd is playing nice today I am up 53 pips targeting 68 pips with 39 pips locked in thanks to following my (Mr Pip's) trade plan
AWESOME!
If you fail to plan, you plan to fail.
  • #25,402
  • Feb 14, 2017 10:00am Feb 14, 2017 10:00am
I got taken out at +2 on the graceful exit. Managed to save that one now next!
If you fail to plan, you plan to fail.
  • #25,403
  • Feb 14, 2017 10:01am Feb 14, 2017 10:01am
Quoting Mr. Pip
Remove a little more just below the attempt to correct. {image}
I like the way you have managed this back into contention, do you ever consider a breakeven fill in this situation? or will you always look to trail stop instead?
Bulls nor Bears may hide their intent.
  • #25,404
  • Feb 14, 2017 10:08am Feb 14, 2017 10:08am
Quoting wigtrade
{quote} I like the way you have managed this back into contention, do you ever consider a breakeven fill in this situation? or will you always look to trail stop instead?
Although my reasons for getting in this trade were no longer there and this was no longer a rescue mission situation but a graceful exit, I had to consider my options. there weren't many but here they are:

 

  1. This is an are that the buyers have been buying off of all morning.
  2. The expectation on the main swing however weak is still a NSH.

The only option I had was a graceful exit and see if there was still a chance to compete. So I trailed up on structure to the left securing the graceful exit while still giving the expectation the benefit of the bought. I think I couldn't have done any better here.

Attached Image (click to enlarge)
Click to Enlarge Name: YM 03-17 (233 Tick) 2017_02_14.png Size: 56 KB
If you fail to plan, you plan to fail.
  • #25,405
  • Feb 14, 2017 10:08am Feb 14, 2017 10:08am
Quoting Mr. Pip
I got taken out at +2 on the graceful exit. Managed to save that one now next!
Great trade management.

Stop placement was key here and you nailed it.

Masterrmind...........
Master your Mind then Master your Trades
  • #25,406
  • Feb 14, 2017 10:09am Feb 14, 2017 10:09am
wow ... eurusd touched 100% of fib extension ( retreacement into 0.618 and then finished ABCD ) and bounced. nice
Attached Image (click to enlarge)
Click to Enlarge Name: fib_trend_extension.png Size: 118 KB
  • #25,407
  • Feb 14, 2017 10:10am Feb 14, 2017 10:10am
We can't seem to break out of this stupid range today.
If you fail to plan, you plan to fail.
  • #25,408
  • Feb 14, 2017 10:12am Feb 14, 2017 10:12am
Quoting Masterrmind
{quote} Great trade management. Stop placement was key here and you nailed it. Masterrmind...........
Thanks my friend. Trying to teach our young traders about market context and the importance of situational awareness.
If you fail to plan, you plan to fail.
  • #25,409
  • Feb 14, 2017 10:12am Feb 14, 2017 10:12am
Quoting pereiraalex
wow ... eurusd touched 100% of fib extension ( retreacement into 0.618 and then finished ABCD ) and bounced. nice {image}
What a beauty.
If you fail to plan, you plan to fail.
  • #25,410
  • Feb 14, 2017 10:14am Feb 14, 2017 10:14am
Both sides showing volume and intent this = blood bath. I will sit on my hands. Not worth taking on risk
Attached Image (click to enlarge)
Click to Enlarge Name: YM 03-17 (233 Tick) 2017_02_14.png Size: 55 KB
If you fail to plan, you plan to fail.
  • #25,411
  • Feb 14, 2017 10:15am Feb 14, 2017 10:15am
I do think the bears might be in serious trouble now.
If you fail to plan, you plan to fail.
  • #25,412
  • Feb 14, 2017 10:18am Feb 14, 2017 10:18am
Mark your calendars Feb 21 live stream the link will be up that morning around 0900 Eastern Time.
If you fail to plan, you plan to fail.
  • #25,413
  • Feb 14, 2017 10:20am Feb 14, 2017 10:20am
The bears should have at least one more attack in mind. at which point and depending on how it looks I might take the long if the RR justifies it.
Attached Image (click to enlarge)
Click to Enlarge Name: YM 03-17 (233 Tick) 2017_02_14.png Size: 56 KB
If you fail to plan, you plan to fail.
  • #25,414
  • Feb 14, 2017 10:21am Feb 14, 2017 10:21am
Quoting Mr. Pip
{quote} Thanks my friend. Trying to teach our young traders about market context and the importance of situational awareness.
Having the mental capacity and skillset to follow a trade from entry through to exit and knowing what action is likely to be the best in a given situation is one of the most important trading skills one can learn.

Practise ... practise ... and then practise some more.

Masterrmind............
Master your Mind then Master your Trades
  • #25,415
  • Feb 14, 2017 10:23am Feb 14, 2017 10:23am
Quoting Masterrmind
{quote} Having the mental capacity and skillset to follow a trade from entry through to exit and knowing what action is likely to be the best in a given situation is one of the most important trading skills one can learn. Practise ... practise ... and then practise some more. Masterrmind............
100%
If you fail to plan, you plan to fail.
  • #25,416
  • Feb 14, 2017 10:28am Feb 14, 2017 10:28am
Here it comes lets see how is looks.
Attached Image (click to enlarge)
Click to Enlarge Name: YM 03-17 (233 Tick) 2017_02_14.png Size: 55 KB
If you fail to plan, you plan to fail.
  • #25,417
  • Feb 14, 2017 10:36am Feb 14, 2017 10:36am
Testing highs now from yesterday and the bears seem to be not around can they wake up?
Attached Image (click to enlarge)
Click to Enlarge Name: YM 03-17 (233 Tick) 2017_02_14.png Size: 54 KB
If you fail to plan, you plan to fail.
  • #25,418
  • Feb 14, 2017 10:40am Feb 14, 2017 10:40am
Woke up a little. Can they correct?
Attached Image (click to enlarge)
Click to Enlarge Name: YM 03-17 (233 Tick) 2017_02_14.png Size: 50 KB
If you fail to plan, you plan to fail.
  • #25,419
  • Feb 14, 2017 10:43am Feb 14, 2017 10:43am
Quoting Mr. Pip
Woke up a little. Can they correct? {image}
We are currently more in a range.
  • #25,420
  • Feb 14, 2017 10:46am Feb 14, 2017 10:46am
The area I'm interested in.
Attached Image (click to enlarge)
Click to Enlarge Name: YM 03-17 (233 Tick) 2017_02_14.png Size: 65 KB
If you fail to plan, you plan to fail.
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