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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

  • #27,201
  • Mar 25, 2017 11:09am Mar 25, 2017 11:09am
Quoting jlares
Hello everybody, I know I have been away for a while but duty called (military deployment) but I have been following the forum and watching all the videos from Damian! (thank you again for that sir). Anyways I finally got a live account going with small deposit just to have a feel of trading for real money instead of demo trading, which I've been doing now for a while. Because of my work schedule I have decided that it was best for me to trade the higher timeframes (normally 4H and 1H charts). Now I took this trade today with the EUR/JPY and everything...
Hi jlares,
I'm new to this thread and I only trade the M5 chart.
The way I see things on your chart (as I would see them on an M5):
Compared to the last swing down, you have a decrease in the projection (yellow lines) and an increase in the correction depth, with similar momentum.
There is a possible are of structure at the low, and you could argue that price made a 1:1 completion to the downside.
For the previous swing, price didn't make the 38.2 on the correction (green fib).
So with all this in mind, I would think that price is due for a deeper correction, possibly up to the 61.8 of the pink fib.
Keep in mind that I only trade the M5, so there may be some differences on the higher time frame.
Also, for some reason, my H4 chart looks a bit different to yours.
Hopefully my chart isn't too confusing.
Cheers,
Finfresh

P.S. I hope I am wrong and the bears come back in before your SL.

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  • #27,202
  • Mar 25, 2017 3:36pm Mar 25, 2017 3:36pm
Quoting jlares
Hello everybody, ...Any suggestions are very much appreciated. Good weekend to all.
Maybe you did not check or are not following the news but last Friday after 3:00PM ET the markets went crazy as every eyes were watching the vote on the health care. Against all odds, Obamacare has survived. And Donald Trump has suffered a spectacular failure that may haunt his presidency and his party for years. This was not trade-able in the sense that nothing could be reliable except maybe those who follow order flow using specialised tools and again much too risky IMHO but doable. Your trade could have worked under normal circumstances but alas such event is like someone who would throw you a curved ball.
  • #27,203
  • Mar 25, 2017 8:08pm Mar 25, 2017 8:08pm
Quoting finfresh
{quote} Hi jlares, I'm new to this thread and I only trade the M5 chart. The way I see things on your chart (as I would see them on an M5): Compared to the last swing down, you have a decrease in the projection (yellow lines) and an increase in the correction depth, with similar momentum. There is a possible are of structure at the low, and you could argue that price made a 1:1 completion to the downside. For the previous swing, price didn't make the 38.2 on the correction (green fib). So with all this in mind, I would think that price is due for...
Hi there and thank you for your response. It amazes me how differently I look at that trade now lol. And you're right, your chart looks a little different than mine. It seems more defined showing the swings a little clearer.
  • #27,204
  • Mar 25, 2017 8:11pm Mar 25, 2017 8:11pm
Quoting vqtrader
{quote} Perspective/Expectation From a short term structure perspective, once it broke structure(noted by big red candle) the expectation should have continued to the downside because of high volume in that candle,but it didn't. That was the first clue. Second clue from a bar-bar perspective there was rejection to the upside that failed. Third clue when price reached AOI(area of interest) and gave you a bearish signal take note of the previous two candles. They rejected to the downside which suggest bullish intent is to take price higher or the...
Thank you! it does make sense to me now. I might be in for the loss but that's ok. Lesson learned. I just saw that big red candle and got a little too excited and pulled the trigger!
  • #27,205
  • Mar 25, 2017 11:40pm Mar 25, 2017 11:40pm
Quoting jlares
{quote} Hi there and thank you for your response. It amazes me how differently I look at that trade now lol. And you're right, your chart looks a little different than mine. It seems more defined showing the swings a little clearer.
Thanks for posting.
On my chart, the rotation candle was in two candles instead of one, which would probably mean the difference between taking the trade and not taking it.
Your chart made me re-visit my M5 EURJPY chart.
I was also looking for shorts on Friday, although I would have been able to protect my trade on the shorter timeframe.
I might add in a rule to compare the correction of the swing prior to the main swing I'm using to see if reaches the 38.2, and weather or not to expect a possible correction that could correct above the swing high, based on the longer term order flow.
Thanks
  • #27,206
  • Mar 26, 2017 3:29am Mar 26, 2017 3:29am
Quoting Hazza88
At the beginning of febuary i opened my first real live account after reading and practicing with this thread for nearly 2 years and having 3 months profitible in a row from november to january. I was keen to get going and full of confidence that i had "gotten it" and in my first month in febuary this proved correct with me being up by a decent amount, however this month has been a complete disaster i have given all that profit back and more money totalling around 10% of my trading funds. Its been very discouraging for me to go through this and...

Been there, done that ! When I started trading, without knowing what an average was, I made a months salary in 3 days ! Then I started getting more and more into trading, reading books, learning alot, testing alot, and just kept losing and losing. There was a point where I would get mad and do revenge trades. This last friday, after almost a year since my last "revenge trade", I did another "revenge trade". Felt humiliated and stupid.

The more I am in trading, the more I believe this: Its all about emotion controlling and psychology. I was making dream money when I knew nothing. Now I know more than ever, but am struggling. Its all about psychology. Its maddening that when I am calm and focused, I can find trades and do well, but when I am somewhat stressed out, I just don't see anything and do trades based on momentum or feelings.

Point is: I was a better trader when I started, I mean the first day I ever saw a chart, I traded better than now. Beginners luck ? No, I was better in terms of mentality ( trading was an experiment, didn't care much about it, no stress because I wasnt expecting much of it ). Now I am a full time trader and the pressure of making pips every month gets to me. No matter how much technical I know, I am still in trouble because of my nerves and emotions.

Last friday I made a "revenge trade". Lost some pips, but made them all back in the minutes after. I realised what I was doing and actually said " its great that you lost pips , you diserved to lose them, now stop whinning and see what it is doing".

Analyse what you have been doing wrong ( in terms of not following you system ) and if you did follow your system and its not working, do the system but with scaled back position size. When it starts working again, scale back to original size. Its all about your ability to trade. Don't let that ever get hurt. Don't ever feel demoralized, but think of it as a problem you need to solve. ( it will happen from time to time, and you will have to know what to do with it ).

Hope it helps, I actually helps me in writting this, as this post is as much for you as it is for me.
  • #27,207
  • Mar 26, 2017 3:39am Mar 26, 2017 3:39am
Hi
I need an EA to set sell stop and buy stop in Specified price whit Specified TP & SL . for exampel set one buy stop in Specified price. when buy stop is trigrerd set sell stop in Specified price and continue when I stop EA.
I am not is coder. please help me
  • #27,208
  • Mar 26, 2017 6:31am Mar 26, 2017 6:31am
Quoting kelvinyun
Hi guys and girls! Would like to share with you some indicator... for MT4. 1) Currency Strength Meter - attach on ONE CHART to check the strength of trend for any major crosses, if available. - it's useful for me to check for expectations. 2) Free automatic fibonancci - to auto draw the Fib lines. I generally use "Bars to Scan = 120" for 1H timeframe. 3) Harmonic patterns {image} {file}
Thanks for sharing the indis but its asking for license.. am I doing anything wrong during the installation?
  • #27,209
  • Mar 26, 2017 7:28pm Mar 26, 2017 7:28pm
https://www.forexfactory.com/attachm...8&d=1490540623
  • #27,210
  • Edited Mar 27, 2017 7:21am Mar 26, 2017 8:08pm | Edited Mar 27, 2017 7:21am
GBP USD now formed bearish cypher. sell opportunity

Cypher failed, is it going to be shark? anybody can comment if i am right or wrong?
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  • #27,211
  • Mar 26, 2017 8:16pm Mar 26, 2017 8:16pm
Quoting Maule
EU 4Hr Trade. Entered Long on Bull Rotation at 50%. TP@ the 138.2% Short term orderflow (Blue Lines) in line with long term orderflow (Yellow Lines) {image}
EU 4Hr Trade. Update#1
Price Gap up on Sunday market open and hit my TP for +63 pips. Nice way to start the week. Most people hate Mondays but in this case I'd make an exception.
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Play the hand you were dealt.
  • #27,212
  • Mar 27, 2017 4:15am Mar 27, 2017 4:15am
Thankyou for all your comments guys, its been great to wake up this morning and read from all of you who continue to not give up, this thread really does have some of the kindest people ive encountered on a forum such as this. Ive given up so much time and money into this i cant tell you what i means to me to succeed, i will not be giving up anytime soon, but its been a long time since i have been in a trading slump like this where you just start to get suspicious if its even possible to win at this at all but ive had the weekend to rethink and im going to be spending this week backtesting on the market replay, (i paid for some really accurate market replay data). I hope this week is a happy and profitable one for all.
  • #27,213
  • Mar 27, 2017 4:56am Mar 27, 2017 4:56am
Quoting kelvinyun
Hi guys and girls! Would like to share with you some indicator... for MT4. 1) Currency Strength Meter - attach on ONE CHART to check the strength of trend for any major crosses, if available. - it's useful for me to check for expectations. 2) Free automatic fibonancci - to auto draw the Fib lines. I generally use "Bars to Scan = 120" for 1H timeframe. 3) Harmonic patterns {image} {file}
wrong thread for this brother
Empower Your Mind
  • #27,214
  • Mar 27, 2017 4:57am Mar 27, 2017 4:57am
Quoting smaz170
Hi I need an EA to set sell stop and buy stop in Specified price whit Specified TP & SL . for exampel set one buy stop in Specified price. when buy stop is trigrerd set sell stop in Specified price and continue when I stop EA. I am not is coder. please help me
We don't use EA in here my friend
Empower Your Mind
  • #27,215
  • Mar 27, 2017 4:57am Mar 27, 2017 4:57am
EG 4Hr Trade
Woke up to a Bearish Rotation at the 38.2% so took it. TP at the 161.2%.
Now off to the day job...Monday blues
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Play the hand you were dealt.
  • #27,216
  • Mar 27, 2017 5:37am Mar 27, 2017 5:37am
My three trades for this evening, any feedback appreciated :-)
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  • #27,217
  • Mar 27, 2017 7:40am Mar 27, 2017 7:40am
Closed 50% at first target and moved SL to BE+5 (First trade at this system)
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  • #27,218
  • Mar 27, 2017 8:09am Mar 27, 2017 8:09am
Quoting vqtrader
{quote} wrong thread for this brother
currency meter to give an overview of trending pairs.

fibonancci - used by everyone here. makes life easier by automatically drawing it.

harmonic patterns - again, makes life easier by auto drawing. as per the topic of this thread.

if it can be automated let it be automated. its time we spend less time drawing lines and more time analyzing.
  • #27,219
  • Mar 27, 2017 8:32am Mar 27, 2017 8:32am
Still too early to say but this is what I have at the moment...
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  • #27,220
  • Mar 27, 2017 9:19am Mar 27, 2017 9:19am
first trade today. haven't moved to BE yet. let's hope market moves soon towards my target as i have to leave now...
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