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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

  • #26,501
  • Mar 6, 2017 4:10pm Mar 6, 2017 4:10pm
Quoting Maule
NU 4 Hour Chart. Counter Trend Trade. Entered Long on the AB=CD completion. Trade management rules states to move to BE when price reaches the 38.2% and trail aggressively when price reaches the 61.8% What I don't like is the Bearish momentum on the last leg though. 30% success chance but GREAT RR so I'm taking it. {image}
NU 4H trade Update.
SL hit. Next Trade
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Play the hand you were dealt.
  • #26,502
  • Mar 6, 2017 7:33pm Mar 6, 2017 7:33pm
Hello Traders,

Here is the post session video I promised you. I hope it brings some clarity as to why I was looking for short when some of you were thinking long. Please post your comments and questions and I will answer them. Got busy today so I was not able to catch up and I wanted to invest the time I had on the video as I felt it was more important. Talk to you tomorrow.

https://youtu.be/bUnULoGFsGE
If you fail to plan, you plan to fail.
  • #26,503
  • Mar 6, 2017 8:39pm Mar 6, 2017 8:39pm
Quoting Mr. Pip
Hello Traders, Here is the post session video I promised you. I hope it brings some clarity as to why I was looking for short when some of you were thinking long. Please post your comments and questions and I will answer them. Got busy today so I was not able to catch up and I wanted to invest the time I had on the video as I felt it was more important. Talk to you tomorrow. https://youtu.be/bUnULoGFsGE

Very clear and informative video! Thanks for this kind of quality stuff Damian. I also went long and was lucky to catch 2 trades during the short term structure in the complex correction. Was shocked to see that you were actually looking for shorts, in the thread, when i was actually long at that moment. The video clarified the logic behind your thought process and also explained further on the overall awareness of the accumulation of shorts. Very, very informative(for my learning process). Looking forward to tomorrow's live event of the month! Happy trading and take care!
  • #26,504
  • Mar 6, 2017 9:04pm Mar 6, 2017 9:04pm
Quoting Milfortra
{quote} Very clear and informative video! Thanks for this kind of quality stuff Damian. I also went long and was lucky to catch 2 trades during the short term structure in the complex correction. Was shocked to see that you were actually looking for shorts, in the thread, when i was actually long at that moment. The video clarified the logic behind your thought process and also explained further on the overall awareness of the accumulation of shorts. Very, very informative(for my learning process). Looking forward to tomorrow's live event of the...
Im glad the video had value. The live event is on the 8 of Marrch Wednesday not tomorrow. Just an FYI.
If you fail to plan, you plan to fail.
  • #26,505
  • Mar 6, 2017 9:33pm Mar 6, 2017 9:33pm
Great video Mr_Pip, 06/03 was a tough session for me with lots of lessons !!!!
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  • #26,506
  • Mar 6, 2017 9:47pm Mar 6, 2017 9:47pm
Nice Video Mr Pip!
Towards the end of the video, you did mention about trade management - knowing the risks etc and knowing when to get out early/ reduce risk / move to BE.
However, I think many of us have a conflict too about being tolerant and patient and holding price accountable. That conflict is killing me as I do not want to cut into the RR profile but at the same time I have the interest of minimizing my losses
Could you provide your insight on the below examples from a trade management perspective?
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  • #26,507
  • Mar 6, 2017 11:42pm Mar 6, 2017 11:42pm
Quoting Lundies10
{quote} Getting pumped! Not sure if I can make it yet but going to do my best. Congrats on your new addition to family Mr. P! It's got to be exciting. I have a question for the group about trade management. I have entered a trade, set my stop and waiting to move stop to BE. Price has reached my daily profit target (it's relatively low) but not my expectation for price. Part of me wants to manually exit and take my daily goal and stop for today, the other part wants to stay accountable for the trade and stay in until my stop is hit or my expectation...
I tend to kill it, since I tried several times to go for a longer move but it failed (started like +15...+20 and ended with SL); this drives me crazy when it happens.
If I would have let it go yesterday, I would at best ended on BE (protected entry), but I took profit (+22) when I saw that PA is not as strong as I thought. In view of my wish of daily profit (+10..+20), I am not looking for the big runners. If it happens with strength, I would trail aggressively.

However, I am not saying that what I do is best practice.
  • #26,508
  • Mar 7, 2017 2:54am Mar 7, 2017 2:54am
Good evening traders. Took a short with the expectation of a NSL after a pullback into a good zone of structure, with the good rotation candle. Stopped out for a full position once it broke the high.
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  • #26,509
  • Mar 7, 2017 3:08am Mar 7, 2017 3:08am
Quoting Mr. Pip
Hello Traders, Here is the post session video I promised you. I hope it brings some clarity as to why I was looking for short when some of you were thinking long. Please post your comments and questions and I will answer them. Got busy today so I was not able to catch up and I wanted to invest the time I had on the video as I felt it was more important. Talk to you tomorrow. https://youtu.be/bUnULoGFsGE
Thanks Mr. Pip, I got a lot from this video.
  • #26,510
  • Mar 7, 2017 4:09am Mar 7, 2017 4:09am
USDJPY is in my engage zone.....looking for short !!!
  • #26,511
  • Mar 7, 2017 4:17am Mar 7, 2017 4:17am
Quoting Velikov
USDJPY is in my engage zone.....looking for short !!!
Short.....stop 114,18
  • #26,512
  • Mar 7, 2017 4:18am Mar 7, 2017 4:18am
Quoting Velikov
USDJPY is in my engage zone.....looking for short !!!
Watching like a hawk too!
USD strength everywhere except this pair
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  • #26,513
  • Mar 7, 2017 4:24am Mar 7, 2017 4:24am
Quoting Mr. Pip
{quote} Im glad the video had value. The live event is on the 8 of Marrch Wednesday not tomorrow. Just an FYI.

What time (UK) will that be sir?
  • #26,514
  • Mar 7, 2017 4:31am Mar 7, 2017 4:31am
Quoting DonaldTrunk
{quote} Watching like a hawk too! USD strength everywhere except this pair {image}
114 is my entry price, 114.18 stop ,looking for at least 30 pips on this one
  • #26,515
  • Mar 7, 2017 4:43am Mar 7, 2017 4:43am
Quoting Velikov
{quote} 114 is my entry price, 114.18 stop ,looking for at least 30 pips on this one
It's real challenge to trade from iPad
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  • #26,516
  • Mar 7, 2017 5:02am Mar 7, 2017 5:02am
Quoting Velikov
{quote} 114 is my entry price, 114.18 stop ,looking for at least 30 pips on this one
stop on B/E
  • #26,517
  • Mar 7, 2017 5:05am Mar 7, 2017 5:05am
Entered long after the circled rotation candle on UJ with expectation of a NSH. Had my stop initially below the low, but once I saw the real strength in the bears I exited early.

In hindsight, the rotation candle didn't actually meet my criteria as the lower wick was too long, I need to be more careful.
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  • #26,518
  • Mar 7, 2017 5:06am Mar 7, 2017 5:06am
Quoting Mr. Pip
Hello Traders, Here is the post session video I promised you. I hope it brings some clarity as to why I was looking for short when some of you were thinking long. Please post your comments and questions and I will answer them. Got busy today so I was not able to catch up and I wanted to invest the time I had on the video as I felt it was more important. Talk to you tomorrow. https://youtu.be/bUnULoGFsGE

Great video!

..the thing that still confuses me though is the accumulation and distribution. And why sometimes those big candles show strength towards their direction , and some other times the same big candles show participation that didn't go anywhere,thus strength to the opposite direction.
learn more , earn more
  • #26,519
  • Mar 7, 2017 5:23am Mar 7, 2017 5:23am
Quoting SidE1
{quote} What time (UK) will that be sir?
Around 14:00 or 2 p.m. London time
  • #26,520
  • Mar 7, 2017 6:39am Mar 7, 2017 6:39am
Quoting x3m-PippiN
{quote} Around 14:00 or 2 p.m. London time
Many thanks.
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