If you fail to plan, you plan to fail.
Ratios & Harmonics: a Different Way to Trade
- #28,602
- May 8, 2017 8:24am May 8, 2017 8:24am
{quote} This time YOU were right LundiesI shouldn't have entered. It was emotions. - I was afraid price would still do what I predicted previously and leave without me - I WANTED to be right - So I ignored the NSL that was formed, I ignored the strong bear candles I violated a rule of Mr. Pip that is also in my trade plan: Trade what you see, not what you think might happen It was a bad trade. I'll hit myself with the trade plan now, learn from it and continue
Grtz Peter
) I am thankful for making mistakes like this because the pain won't let you forget about what you should have done. It's all part of the game. The fact that you recognize your emotional decision still puts you years ahead of most traders. NEXT!
- #28,605
- May 8, 2017 9:02am May 8, 2017 9:02am
- | Membership Revoked | Joined Jul 2010 | 9,273 Posts
{quote} Hi Damian. Would it be correct to say that you decided to go for a long because the medium term momentum of the bears started to decrease and PA was in a support zone, although you did not really get a good rotation candle and the previous bearish candles had good momentum & volume?
If you fail to plan, you plan to fail.
- #28,606
- May 8, 2017 9:06am May 8, 2017 9:06am
- | Joined Jan 2014 | Status: Trader | 1,089 Posts
{quote} Nice work!
- #28,610
- May 8, 2017 10:28am May 8, 2017 10:28am
- Joined Oct 2009 | Status: Trader | 5,676 Posts
Always trade your own plan...I don't provide trading signals.
- #28,612
- May 8, 2017 10:35am May 8, 2017 10:35am
- Joined Oct 2009 | Status: Trader | 5,676 Posts
Always trade your own plan...I don't provide trading signals.
- #28,614
- May 8, 2017 10:44am May 8, 2017 10:44am
- Joined Oct 2009 | Status: Trader | 5,676 Posts
Always trade your own plan...I don't provide trading signals.
- #28,616
- Edited 4:10pm May 8, 2017 11:19am | Edited 4:10pm
- | Joined Jun 2015 | Status: Trader | 76 Posts
NQ +2.75, +6.75 = +9.5 YM b/e2, +15 =17 {image} {image} {image}
Can you explain "price momentum weakened coming into leg start 39.75" (first NQ trade), please?
I attached 2 images that show what i see (yellow lines). Did you mean the last leg of the 3 waves down was weakened?
Thank you,
Gaston
Hey guys I have a rotation bar question. I have noticed a lot lately that a rotation bar that is very large (closes past the high/low of the previous) and with small or no tail on either end seem to be fake out bars. Price retraces on the very next bar. Is there such a thing as too big a rotation bar? Like the Hail Mary we hear Damian discuss from time to time? See chart for example. Bearish bars red, Bullish green. Thanks! {image}
No trades for me today. 6J was definitely crying for short but the opportunities sucked IMO. YM I was bullish l/t but the intermediate was bearish for most of the time after the open although we are still in a complex correction overall.
- #28,619
- Edited 12:08pm May 8, 2017 11:50am | Edited 12:08pm
{quote} The rotation bar is considered as such only when it's in the right place. If you see a big bar in the middle of a swing it doesn't mean that it's a rotation. When you expect for price to react to a certain price level where you have built up confluence and it produces that big bar ..now that's rotation. Hope this helped
