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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

  • #27,221
  • Mar 27, 2017 9:26am Mar 27, 2017 9:26am
Quoting ujku80
first trade today. haven't moved to BE yet. let's hope market moves soon towards my target as i have to leave now... {image}
Interesting trade, im looking for longs at the moment, perhaps you could explain your reasons for the trade?
  • #27,222
  • Mar 27, 2017 9:50am Mar 27, 2017 9:50am
Quoting Hazza88
{quote} Interesting trade, im looking for longs at the moment, perhaps you could explain your reasons for the trade?
yes of course. The basic idea is that we are in a bear market. and if you look at the last swing market made a NSL, right? Now, even though the market has broken the very last swing to the downside, you can see that is has problems going higher. The bears were comming with quite some strength. Until that blue zone around 20460 is not taken out, market is still bearish and everything that it does, to me is simply trying to correct. Remember that quite often, market breaks an immediate swing just to hit SL of those who were selling since previous moves and then continue towards new lows...
  • #27,223
  • Mar 27, 2017 9:56am Mar 27, 2017 9:56am
hey everyone ive been following this thread for a while watched the videos a few times and have a question a bit of a noob question that may have been answered somewhere in this 1300 page thread somewhere but i figure the only bad question is one thats not asked

my question is on the chart it just ocured to me as hazza88 asked a question i was looking at potential shorts but longs were mentioned
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  • #27,224
  • Mar 27, 2017 9:58am Mar 27, 2017 9:58am
ok was answered just above my post as i was typing
  • #27,225
  • Mar 27, 2017 10:12am Mar 27, 2017 10:12am
Hello Traders,

After some time off I got a little dirty today in the market and had myself a BE day. I was disconnected and distracted so tomorrow will be better and I will be posting again. Take care and talk to you all soon. I will not be catching up on the time I missed as I do not have the time right now. I hope you all understand.
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If you fail to plan, you plan to fail.
  • #27,226
  • Mar 27, 2017 10:12am Mar 27, 2017 10:12am
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...
And i wanted to aswer to this comment but i hadn't had time before. So. im doing it now.

to tell u the truth i have been having difficulties these last two months too. Feb was a tough but i managed to get 20pips + enough to call it BE. March I'm 40 pips minus, for which in principle I just need one trade to delete the loss, but the point is that it has been a really tough month for me too. The question is, does it matter so much if I loose the trade which I'm in right now, or if march becomes a loosing month? No. Because i know that i'll have probability with me. One trade or two or three don't affect that. But you need to keep your mind clear and don't let a bad month ruin everything for you. First thing to do when you have a loss, is to stop trading for the rest of the day. Or even more if you feel that you are getting nervous. this business requires clear thoughts and emotionless behaviour. Which is crucial for success here. If you're not able to have that, stop for a while. In principle, when you think about it, all you need is five good trades in a month to succeed. no more. Market is here. And it's going to dance up and down the chart like you know it does...and if you don't like the music, and don't feel the moves don't jump on the dance floor...

But it is a very tough business; everybody knows that. Loosing 10% in a month hurts but I've done much worse myself...
  • #27,227
  • Mar 27, 2017 10:17am Mar 27, 2017 10:17am
Quoting Mr. Pip
Hello Traders, After some time off I got a little dirty today in the market and had myself a BE day. I was disconnected and distracted so tomorrow will be better and I will be posting again. Take care and talk to you all soon. I will not be catching up on the time I missed as I do not have the time right now. I hope you all understand. {image}
thanks Damian for showing up here. sure we understand that you have much higher priorities with your new-born son now take care and see you around.
  • #27,228
  • Mar 27, 2017 11:18am Mar 27, 2017 11:18am
would anybody please check post 27209 and comment the correctness? please.
  • #27,229
  • Mar 27, 2017 11:22am Mar 27, 2017 11:22am
Quoting Mr. Pip
Hello Traders, After some time off I got a little dirty today in the market and had myself a BE day. I was disconnected and distracted so tomorrow will be better and I will be posting again. Take care and talk to you all soon. I will not be catching up on the time I missed as I do not have the time right now. I hope you all understand. {image}

Nice to see you again Damian. Looking forward to seeing you with your active posts here but family always comes first. Take care and God bless.
  • #27,230
  • Mar 27, 2017 11:25am Mar 27, 2017 11:25am
Quoting ujku80
{quote} And i wanted to aswer to this comment but i hadn't had time before. So. im doing it now. to tell u the truth i have been having difficulties these last two months too. Feb was a tough but i managed to get 20pips + enough to call it BE. March I'm 40 pips minus, for which in principle I just need one trade to delete the loss, but the point is that it has been a really tough month for me too. The question is, does it matter so much if I loose the trade which I'm in right now, or if march becomes a loosing month? No. Because i know that i'll...
It's hard to go wrong when we are trading with expectation both long term and short term. And to trade at strong supply demand areas.

I realize whenever I did not fully utilize Damian's method , being lazy and do not properly analyze, that's when the account suffers.
  • #27,231
  • Mar 27, 2017 11:27am Mar 27, 2017 11:27am
Quoting ujku80
{quote} And i wanted to aswer to this comment but i hadn't had time before. So. im doing it now. to tell u the truth i have been having difficulties these last two months too. Feb was a tough but i managed to get 20pips + enough to call it BE. March I'm 40 pips minus, for which in principle I just need one trade to delete the loss, but the point is that it has been a really tough month for me too. The question is, does it matter so much if I loose the trade which I'm in right now, or if march becomes a loosing month? No. Because i know that i'll...
So well answered. I will be printing this and putting it up on my board(although it was meant for Hazza88 but it applies to all traders). Thanks Ujku80.
  • #27,232
  • Mar 27, 2017 5:29pm Mar 27, 2017 5:29pm
Quoting smarajit1
would anybody please check post 27209 and comment the correctness? please.
Hi I think This was already answered long before you posted. Post#20,772 (http://www.forexfactory.com/showthread.php?p=9220139#post9220139). The Cypher is obsolete.
Play the hand you were dealt.
  • #27,233
  • Mar 27, 2017 5:36pm Mar 27, 2017 5:36pm
Quoting kelvinyun
{quote} 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.
Hi Kelvinyun. It's good to share and help out other traders but for me personally the long hours spent in front of charts analyzing is a valuable learning process. We're training our eyes to see things that indicator traders don't see.
As for the software you're recommending here's a direct quote from the thread owner on that topic:
Post#22,939 (http://www.forexfactory.com/showthread.php?p=9373981#post9373981),
Play the hand you were dealt.
  • #27,234
  • Mar 27, 2017 7:57pm Mar 27, 2017 7:57pm
Quoting Maule
{quote} Hi I think This was already answered long before you posted. Post#20,772 (http://www.forexfactory.com/showthread.php?p=9220139#post9220139). The Cypher is obsolete.
thats fine. but can you please answer the correctness of my shark and expectation of fall?
  • #27,235
  • Mar 27, 2017 8:23pm Mar 27, 2017 8:23pm
Quoting smarajit1
{quote} thats fine. but can you please answer the correctness of my shark and expectation of fall?
Although Shark isn't mentioned in this thread from Scott Canery's site it's pretty by the book. Only thing left to do is to wait for the bar by bar reaction in the PRZ. There's also a three drive pattern that completes in that area too.
Play the hand you were dealt.
  • #27,236
  • Mar 27, 2017 8:26pm Mar 27, 2017 8:26pm
Quoting Maule
{quote} Although Shark isn't mentioned in this thread from Scott Canery's site it's pretty by the book. Only thing left to do is to wait for the bar by bar reaction in the PRZ. There's also a three drive pattern that completes in that area too.
sir,
could you please mark 3 drives in GU and post? this is for my education purpose.
  • #27,237
  • Mar 27, 2017 10:45pm Mar 27, 2017 10:45pm
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...
Hi Hazza88.

It has taken me a while to address this so sorry for that, with me being away last week and really busy since being back this is my first opportunity.
I started trading quite a few years ago now and thought I could master it. What I didn't know was that I had real problems mastering myself.
After a few years I had to give up and walk away before I dug a hole and put myself in the ground (yes it got that bad).
I had to stop trading and seek professional help as to why I could be so self destructive and could not stop even though I knew I was doing it to myself.
It hurt a lot to go through that part of my life and if trading hadn't of brought it out of me something else would. The ironic thing is that I love trading and I think that is why it hurt so much (supposedly you do what you love doing and the money will come, not sure on that one).
Over the last few months I have come back into trading and already I know that I feel different. I still have moments of madness but through all what I have learnt I can now see when I do it and pull myself back a little (Probably similar to when Damian hits himself with his trading plan).
I know I will keep making some mistakes because I am human and I'm ok with that now.
I too have had a poor couple of months trading and looking back on the days I have manged to trade (I don't get to trade every day) the market has been pretty rubbish just wandering up and down in ranges, any moves it makes are usually before the open or in the afternoon session.
These are the things we have to put up with now as traders.
I think it is good that you are going to do some more backtesting as this does help to build confidence but also the real trading is where you get to do it with all the real emotions and that is the harder part.
Go through all your trades you have done lately and see if you think you made any mistakes, if not then that is good it's just a shit market at the moment. If you find you have made mistakes that's ok too, but what can you do to try to stop it next time.
Sometimes I print things out and stick them round my monitors so that they are always staring at me and can't be ignored.

You may ask why I have told my story. I just want you to believe in yourself and that you have the capabilities within you to do anything that you want to do.
It took me a long time to get to where I am today and it was a battle I hope nobody here has to go through. And just so you feel special I have never told anyone my story before.

Stay strong, have faith and go over your trades.

Jon.
  • #27,238
  • Mar 28, 2017 4:26am Mar 28, 2017 4:26am
Quoting smarajit1
{quote} sir, could you please mark 3 drives in GU and post? this is for my education purpose.
Here you go.
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Play the hand you were dealt.
  • #27,239
  • Mar 28, 2017 4:29am Mar 28, 2017 4:29am
AJ 4Hr Trade.
Entered Short on Bearish Rotation @ the 38.2%. TP@ the 161.8%
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Play the hand you were dealt.
  • #27,240
  • Mar 28, 2017 4:34am Mar 28, 2017 4:34am
Quoting Maule
AJ 4Hr Trade. Entered Short on Bearish Rotation @ the 38.2%. TP@ the 161.8% {image}
is it ok that SL>TP?
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