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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

  • #27,001
  • Mar 17, 2017 5:01pm Mar 17, 2017 5:01pm
EU 4Hr entered on ABCD pattern completion. (Counter Trend Trade)
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Play the hand you were dealt.
  • #27,002
  • Mar 17, 2017 8:38pm Mar 17, 2017 8:38pm
Quoting Maule
EU 4Hr entered on ABCD pattern completion. (Counter Trend Trade) {image} {image}
I took this trade as well, you have a better entry. Do you wait for bar to bar rollover?
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  • #27,003
  • Edited Mar 19, 2017 8:46am Mar 18, 2017 4:45pm | Edited Mar 19, 2017 8:46am
Hello Folks,
Do to the last trade I took which put my earnings backwards(3 months profit)I have decided to not fund my account any longer. Which is crazy because I just opened it up Jan 1 and margin twice due to large SL. If I can't sustain the minimum operational cost then what am I doing here in this business. I am not mad. I will accept it if this is what happens. It would sting abit though. I vowed to never get back on the hamster wheel of refunding. I played that game in Forex. So with that said, If the money I have runs out, then I have to come to realization that even though cranking for 9+years and wanting to teach this stuff to kids, I will close down and walk away. It will be really tough as I have put an easy 10 hrs/day and working full time to make this happen. It has become a big part of me and I enjoy it, but I will not piss my hard earn money away again. I hope everyone have much success. Thank you Damien for all the help you have given me since this thread began. You are a Gem brother!

James Brown
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Empower Your Mind
  • #27,004
  • Mar 18, 2017 10:33pm Mar 18, 2017 10:33pm
Quoting vqtrader
Hello Folks, Do to the last trade I took which put my earnings backwards(3 months profit)I have decided to not fund my account any longer. Which is crazy because I just opened it up Jan 1 and margin twice due to large SL. If I can't sustain the minimum operational cost then what am I doing here in this business. I am not mad. I will accept it if this is what happens. It would sting abit though. I vowed to never get back on the hamster wheel of refunding. I played that game in Forex. So with that said, If the money I have runs out, then I have to...
Totally feel you as I am in the same boat.. my demon is also moving SL and making it larger,, now focusing totally on process and taking one day at a time.. which is helping..
  • #27,005
  • Mar 18, 2017 10:42pm Mar 18, 2017 10:42pm
Quoting vqtrader
Hello Folks, Do to the last trade I took which put my earnings backwards(3 months profit)I have decided to not fund my account any longer. Which is crazy because I just opened it up Jan 1 and margin twice due to large SL. If I can't sustain the minimum operational cost then what am I doing here in this business. I am not mad. I will accept it if this is what happens. It would sting abit though. I vowed to never get back on the hamster wheel of refunding. I played that game in Forex. So with that said, If the money I have runs out, then I have to...
You mean Mr pip's trading strategy didn't work for you? 1 trade wiped out 3 months profit? How did that happen?
  • #27,006
  • Mar 18, 2017 10:43pm Mar 18, 2017 10:43pm
Quoting sdatta
{quote} Totally feel you as I am in the same boat.. my demon is also moving SL and making it larger,, now focusing totally on process and taking one day at a time.. which is helping..
How much fund are you guys risking per trade? I mean how many % of your fund?
  • #27,007
  • Mar 18, 2017 11:02pm Mar 18, 2017 11:02pm
Quoting vqtrader
Hello Folks, Do to the last trade I took which put my earnings backwards(3 months profit)I have decided to not fund my account any longer. Which is crazy because I just opened it up Jan 1 and margin twice due to large SL. If I can't sustain the minimum operational cost then what am I doing here in this business. I am not mad. I will accept it if this is what happens. It would sting abit though. I vowed to never get back on the hamster wheel of refunding. I played that game in Forex. So with that said, If the money I have runs out, then I have to...
I am sad to hear about your loss but I have faith that you will find a way to be successful. I am wondering the same thing as the others though. How did you lose 3 months profit in one trade?
  • #27,008
  • Mar 19, 2017 5:17am Mar 19, 2017 5:17am
Quoting vqtrader
Hello Folks, Do to the last trade I took which put my earnings backwards(3 months profit)I have decided to not fund my account any longer. Which is crazy because I just opened it up Jan 1 and margin twice due to large SL. If I can't sustain the minimum operational cost then what am I doing here in this business. I am not mad. I will accept it if this is what happens. It would sting abit though. I vowed to never get back on the hamster wheel of refunding. I played that game in Forex. So with that said, If the money I have runs out, then I have to...
Hey Vqtrader, first of all, what did you do that you lost 3 month of profit? I think you are still on the right way. As i speak for me i love trading so much that it will be a part of my life forever even though i deleted 3 Accounts to 0. I was at the exact same point like you. I wanted to quit trading forever i was disappointed from myself that i didnt follow rules and get greedy. But i couldnt quit for a long time, i wanted to trade so i came back and started to focus on demo trading first until i feel comfortable to trade live again. To my luck i found this thread and Mr.Pip showed me an easy, nice and funny way to trade.

As i can see you found this thread a long time ago. I believe you know how to trade and i believe you can still manage to be a succesful trader. Everyone in this thread will and can be, Mr.Pip shows us how to. Get some distance to the market for now, come back then open a demo account and practice practice practice! In your case i think your risk and money management is the biggest problem but its easy to develop.
Like Mr.Pip allways says 2% of your Account as risk per trade is more then enough. As a reminder, if you trade a 1:2 RR ratio you get a 4% gain per trade.
Its the human greed which let us make dumb decisions.

I wish you all the best and i hope it has some value for you.
Cheers
  • #27,009
  • Mar 19, 2017 7:06am Mar 19, 2017 7:06am
Quoting lithium1
{quote} How much fund are you guys risking per trade? I mean how many % of your fund?
Not more than 2% per trade at risk,,, but the problem is the devil comes back (less frequent now,, thankfully)) and move it much higher risk.. working on the devil to make pet.. its all in the process
  • #27,010
  • Mar 19, 2017 7:19am Mar 19, 2017 7:19am
Quoting lithium1
{quote} I took this trade as well, you have a better entry. Do you wait for bar to bar rollover? {image}
in this case i broke the rules and entered without waiting for confirmation/ bearish bar close.
I observed in the past that completed ABCD patters that don't fail move away from the reversal zone very quickly. waiting for the bar to close costs a lot of pips on a 4hour chart. Normally I would not enter without confirmation tough because that's gambling.
The only reason I took the chance was because of the RR being in my favor and if the SL got hit it would be a minor loss.
But you did the correct thing by waiting first before entering. I just took a gamble after evaluating the risk.
Play the hand you were dealt.
  • #27,011
  • Mar 19, 2017 7:24am Mar 19, 2017 7:24am
Quoting vqtrader
Hello Folks, Do to the last trade I took which put my earnings backwards(3 months profit)I have decided to not fund my account any longer. Which is crazy because I just opened it up Jan 1 and margin twice due to large SL. If I can't sustain the minimum operational cost then what am I doing here in this business. I am not mad. I will accept it if this is what happens. It would sting abit though. I vowed to never get back on the hamster wheel of refunding. I played that game in Forex. So with that said, If the money I have runs out, then I have to...
Don't give up. As Mr Pip would say, "the only traders that don't loose are traders who don't trade" Ive lost trades too but with the Smooth Ratio Money Management that Mr Pip taught us I know in the long run those losses don't matter.
Here is the 3rd area that traders need to master. Emotional Intelligence.
Play the hand you were dealt.
  • #27,012
  • Mar 19, 2017 7:37am Mar 19, 2017 7:37am
Quoting lithium1
{quote} You mean Mr pip's trading strategy didn't work for you? 1 trade wiped out 3 months profit? How did that happen?
Yes it works my stop to at the longer term orderflow and once the decision has been made I accept the trade. I went to work cam back and was stopped out. I had 70% expectancy and most of the time my stops were to close and I would get stopped out. The one advantage for me I had money to live another trade. I will only trade short term order flow from here on out and what 1 to 1 profit I get then so be it. don't care if its 5T its a retail way of thinking but my account is now scream RETAIL!!
Empower Your Mind
  • #27,013
  • Mar 19, 2017 7:39am Mar 19, 2017 7:39am
Quoting lithium1
{quote} How much fund are you guys risking per trade? I mean how many % of your fund?
1 contract. its the minimum
Empower Your Mind
  • #27,014
  • Mar 19, 2017 7:42am Mar 19, 2017 7:42am
Quoting Lundies10
{quote} I am sad to hear about your loss but I have faith that you will find a way to be successful. I am wondering the same thing as the others though. How did you lose 3 months profit in one trade?
stop was at longterm orderflow
Empower Your Mind
  • #27,015
  • Edited 8:16am Mar 19, 2017 7:48am | Edited 8:16am
I'm currently still trading with risk per trade of 1%. Will raise it only if my win rate improves to >70%. Still working on it.

I don't trade a fix lot size, I adjust it according to the distance of entry to SL. Fix max risk $ per trade.
  • #27,016
  • Edited 4:29pm Mar 19, 2017 7:54am | Edited 4:29pm
Quoting vqtrader
{quote} Yes it works my stop to at the longer term orderflow and once the decision has been made I accept the trade. I went to work cam back and was stopped out. I had 70% expectancy and most of the time my stops were to close and I would get stopped out. The one advantage for me I had money to live another trade. I will only trade short term order flow from here on out and what 1 to 1 profit I get then so be it. don't care if its 5T its a retail way of thinking but my account is now scream RETAIL!!
You shouldn't enter a trade if you can't afford the risk.(Mr.Pip has said it many times) I don't like risking more then 200$ per contract which on YM is 40 points. But even that is high IMO. And if there is a setup with a 50 point SL ..I have two choices enter with a too big for me risk or put my SL in the main swing which would minimize the expectancy. And there is a third choice (not so obvious)...sit on your hands until the markets presents a better opportunity which I do in this case.
  • #27,017
  • Mar 19, 2017 8:26am Mar 19, 2017 8:26am
Quoting Noxap
{quote} Hey Vqtrader, first of all, what did you do that you lost 3 month of profit? I think you are still on the right way. As i speak for me i love trading so much that it will be a part of my life forever even though i deleted 3 Accounts to 0. I was at the exact same point like you. I wanted to quit trading forever i was disappointed from myself that i didnt follow rules and get greedy. But i couldnt quit for a long time, i wanted to trade so i came back and started to focus on demo trading first until i feel comfortable to trade live again....
traded short term orderflow
Empower Your Mind
  • #27,018
  • Mar 19, 2017 12:42pm Mar 19, 2017 12:42pm
Quoting vqtrader
{quote} 1 contract. its the minimum
But if you cant afford a SL that is equal 2-3% of your account with 1 contract maybe it would be better to trade a cfd or a micro / minilot of forex.
  • #27,019
  • Mar 19, 2017 1:58pm Mar 19, 2017 1:58pm
Hello Traders, Thank you all for the many PM's and warm wishes. We had a beautiful boy who came in at 8 pounds 2 oz. Mom and baby are doing well. Mom had a C-Section and is still recovering. I may or may not be able to trade tomorrow. I'm anxious to get back and have some fun with you all. I will not be catching up on the thread as usual as I am quite busy here at home at the moment, I'm sure you all understand. Trade well and I will see if I can be here tomorrow.
If you fail to plan, you plan to fail.
  • #27,020
  • Mar 19, 2017 2:16pm Mar 19, 2017 2:16pm
Quoting vqtrader
{quote} traded short term orderflow
Hi vqtrader,
Tough luck on losing your last 3 months profits on one trade.
Maybe if you post a chart we can see what you mean.
I have been trading on and off for a while and have never really been consistently profitable.
I'm just starting to turn things around now and can see a way forward where I can be profitable with the right trading plan and right mindset.
I just know that if I keep at it and make sure I am listening to the right people, their experience will eventually rub off on me and I will be successful.
It's been a hard learning curve, but I'm sure that's how everyone starts out.
I hope you stick at it and find a way to turn things around.
Finfresh
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