Play the hand you were dealt.
Ratios & Harmonics: a Different Way to Trade
- #25,983
- Feb 27, 2017 12:04pm Feb 27, 2017 12:04pm
- | Membership Revoked | Joined Jul 2010 | 9,273 Posts
If you fail to plan, you plan to fail.
- #25,984
- Feb 27, 2017 12:06pm Feb 27, 2017 12:06pm
- | Membership Revoked | Joined Jul 2010 | 9,273 Posts
If you fail to plan, you plan to fail.
- #25,987
- Feb 27, 2017 12:58pm Feb 27, 2017 12:58pm
- | Joined Mar 2016 | Status: Trader | 1,068 Posts | Online Now
{quote} I did not get long because the bears worried me. Both times.
Large bars and steep drop shows strength in the selling but then it reverses as quickly / strongly as it came down.
Might have to just click and pray with these sorts of setups
- #25,988
- Feb 27, 2017 1:02pm Feb 27, 2017 1:02pm
- | Joined Jan 2016 | Status: Trader | 1,719 Posts
{quote} This is exactly my sentiment. Large bars and steep drop shows strength in the selling but then it reverses as quickly / strongly as it came down. Might have to just click and pray with these sorts of setups
- #25,989
- Feb 27, 2017 1:26pm Feb 27, 2017 1:26pm
- | Membership Revoked | Joined Jul 2010 | 9,273 Posts
{quote} This is exactly my sentiment. Large bars and steep drop shows strength in the selling but then it reverses as quickly / strongly as it came down. Might have to just click and pray with these sorts of setups
At least I feel it would go something like that.
If you fail to plan, you plan to fail.
- #25,990
- Feb 27, 2017 1:28pm Feb 27, 2017 1:28pm
- | Membership Revoked | Joined Jul 2010 | 9,273 Posts
{quote} Can be costly to hope, especially when price accelerates in the opposite direction.
If you fail to plan, you plan to fail.
- #25,991
- Feb 27, 2017 1:32pm Feb 27, 2017 1:32pm
- | Membership Revoked | Joined Jul 2010 | 9,273 Posts
If you fail to plan, you plan to fail.
- #25,994
- Feb 27, 2017 3:16pm Feb 27, 2017 3:16pm
Hey guys - sounds like its been a rocky day for some of us. I am calling today my "first day" as a trader. Let me explain - been reading and testing and reading some more of this thread for a while but I am now comfortable enough with the content to put it into practice. So today is my first day as a consistently active trader - still doing demo - but acting as if I am in full time 
. +10 on the day so far - seems like the markets are slowing down a bit here. One question: When a news event causes a dramatic spike and then almost identical rotation, do we count it in our analysis? For example, in the screen shot, you can imagine price moves very smooth without the news spike and AFTER the news, its as if the news spike never even happened. Should I read the news spike as a NSH or the following high? Thanks!
. +10 on the day so far - seems like the markets are slowing down a bit here. One question: When a news event causes a dramatic spike and then almost identical rotation, do we count it in our analysis? For example, in the screen shot, you can imagine price moves very smooth without the news spike and AFTER the news, its as if the news spike never even happened. Should I read the news spike as a NSH or the following high? Thanks! Hey guys - sounds like its been a rocky day for some of us. I am calling today my "first day" as a trader. Let me explain - been reading and testing and reading some more of this thread for a while but I am now comfortable enough with the content to put it into practice. So today is my first day as a consistently active trader - still doing demo - but acting as if I am in full time
Glad you are finding success. I wish I found this thread years ago when I got into trading, would have saved me a lot of money and headaches. This is a tricky one, because longer term and short term are in contradiction here. Obviously based on the shorter term order flow you have made a NSH, but look further left and you will see you are in the complex correction of a larger leg and approximately at the 50 fib level. Would you have wanted to choose long or short here? See that railroad candle down, all the dumb money that went long into news (overbought market) not seeing the big picture, just got trapped and spanked by the sharks.
- #25,996
- Feb 27, 2017 3:40pm Feb 27, 2017 3:40pm
- | Membership Revoked | Joined Jul 2010 | 9,273 Posts
If you fail to plan, you plan to fail.
- #25,997
- Feb 27, 2017 3:48pm Feb 27, 2017 3:48pm
{quote} Hello Lundies, Glad you are finding success. I wish I found this thread years ago when I got into trading, would have saved me a lot of money and headaches. This is a tricky one, because longer term and short term are in contradiction here. Obviously based on the shorter term order flow you have made a NSH, but look further left and you will see you are in the complex correction of a larger leg and approximately at the 50 fib level. Would you have wanted to choose long or short here? See that railroad candle down, all the dumb money that...
. The image shows what I saw but I see the complex correction you are talking about. Maybe my analysis didn't go far enough back? I have plenty of fibs, structure and other drawings on here that I was looking at but it looked congested so made them hidden to post. Thanks for the reply.
- #25,998
- Feb 27, 2017 3:50pm Feb 27, 2017 3:50pm
- | Membership Revoked | Joined Jul 2010 | 9,273 Posts
Hey guys - sounds like its been a rocky day for some of us. I am calling today my "first day" as a trader. Let me explain - been reading and testing and reading some more of this thread for a while but I am now comfortable enough with the content to put it into practice. So today is my first day as a consistently active trader - still doing demo - but acting as if I am in full time
If you fail to plan, you plan to fail.
- #25,999
- Feb 27, 2017 3:57pm Feb 27, 2017 3:57pm
- | Membership Revoked | Joined Jul 2010 | 9,273 Posts
{quote} I actually went long just after the news spike ... oops
If you fail to plan, you plan to fail.
- #26,000
- Feb 27, 2017 4:42pm Feb 27, 2017 4:42pm
{quote} Entering long after the news spike was more of an impulsive or reactionary response vs a planned or controlled entry. Be patient don't let price bully you into trades. You are no longer a retail trader. Buy and sell when the price is right. When the RR justifies taking on the risk.
. You've created a monster lol