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Ratios & Harmonics: a Different Way to Trade

  • #29,521
  • Jun 28, 2017 2:02pm Jun 28, 2017 2:02pm
Damn ... seems these last few days have been " lets see how many pips I can lose on the first trades and then catch up later on the day".

Just noticed an interesting statistic: I am profitable on monday, wednesday, thursday and friday, on tuesday I always lose pips.
  • #29,522
  • Jun 28, 2017 5:24pm Jun 28, 2017 5:24pm
Quoting csternfx
I'm thinking of switching to futures too if things keep going well on YM on the demo. I'm curious if anyone has any good resources for the mechanics of futures. I've been doing some reading, but I feel like I'm still lacking info. From what I can gather, I should be able to day trade YM with $500 margin per contract. Each point is worth $5. What I don't know is how buying power functions. Lets say I put $1,000 in an account. Can I make multiple trades during the day using the $500 margin. I assume yes, but I can't find anything definite. I know...
This probably depends on your broker. All depends on your SL, so level of risk on a trade. Once you move the SL to above BE then, dependant on how your broker works, and on what platform then some will release your margin requirement for that trade.
  • #29,523
  • Jun 28, 2017 11:17pm Jun 28, 2017 11:17pm
i'm finally jumping on the futures bandwagon, but i'll be papertrading for awhile more. looks like most folks here are using ninjatraders. Are you also using their brokerage or are you grandfathered in through a different brokerage? currently planning on going with sierracharts and amp.
  • #29,524
  • Jun 29, 2017 1:34am Jun 29, 2017 1:34am
Hi Everyone,

It's a beautiful day to be trading...My analysis on 4 currency pairs

GBPAUD: currently at the 61.8 region and has been hovering there since it's last nights correction. It could go as low as 78.6 if the bears push it but the bulls are waiting there (Look left - Structure Leaves Clues). Expectation: NSH

EURUSD: market might have reached it's exhaustion point so i'm expecting a deep correction. Will be using trailing stop losses in case it swings back. I personally hate this currency for its crazy swings but it's the most popular one out there so trying to decipher it everyday. Expectation: NSL to the previous days low point

USDJPY: very similar to EURUSD. Expect the market to correct to the previous days low and bounce back from there to achieve another LH or a NSH. Expectation: NSH

EURGBP: Now this is slightly confusing. It corrected a 100% and it was a huge swing from last night. I've posted the chart below. I forgot Damian's rules on 100% correction. Not sure which video to go to coz I've seen many. Would appreciate if someone could analyze this chart for me. It seems like a future head and shoulders. forgot that rule too on what happens after that

Many thanks guys
Attached Image (click to enlarge)
Click to Enlarge Name: EURGBP 290617.JPG Size: 106 KB
  • #29,525
  • Jun 29, 2017 1:59am Jun 29, 2017 1:59am
Quoting csternfx
{quote} I'm making more sense of it. Need an initial margin and a day trade margin at most brokers. One I'm looking at is $1,100 initial and $1,000 day trade. Obviously we would only need day trade margin here.
Interesting. I was actually not aware of that as I'm used to forex.
Your question made me realize that I need to look more into the differences between futures and forex regarding costs, margins etc.
  • #29,526
  • Jun 29, 2017 2:05am Jun 29, 2017 2:05am
Quoting pereiraalex
Damn ... seems these last few days have been " lets see how many pips I can lose on the first trades and then catch up later on the day". Just noticed an interesting statistic: I am profitable on monday, wednesday, thursday and friday, on tuesday I always lose pips.
That's odd.
I wish I had only one losing day
  • #29,527
  • Jun 29, 2017 2:29am Jun 29, 2017 2:29am
Quoting RajD
Hi Everyone, It's a beautiful day to be trading...My analysis on 4 currency pairs
Hi RajD

My opinion for what it's worth!

EURUSD The expectation (as defined by Mr. Pip's method) for EURUSD is actually a NSH, both short term and longer term.
Be careful with predicting deep corrections after a rally. I lost a lot of money on that
The rally is not over until it stops. We broke the high of august last year. It might keep going..
I'm not saying you are wrong. EURUSD might correct deep today.
But the expecation is NSH until price breaks structure to the downside and produces a NSL.

USDJPY broke short term structure to the downside and produced NSL. Was not able to make a new NSL and price has been ranging since. Difficult to see what it will do next.

grtz Peter
  • #29,528
  • Jun 29, 2017 2:45am Jun 29, 2017 2:45am
Quoting PeterT
{quote} USDJPY broke short term structure to the downside and produced NSL. Was not able to make a new NSL and price has been ranging since. Difficult to see what it will do next. grtz Peter
Price has produced a NSH on short term. We are still in a complex correction of the long term where a NSH is expected.
Correct me if am wrong brother.
Attached Image (click to enlarge)
Click to Enlarge Name: usdjpy-m5-international-capital-markets.png Size: 49 KB
  • #29,529
  • Jun 29, 2017 2:53am Jun 29, 2017 2:53am
Quoting KensTrader
{quote} Price has produced a NSH on short term. We are still in a complex correction of the long term where a NSH is expected. Correct me if am wrong brother. {image}
Now it did for sure
This is what I'm looking at. It depends on your perspective. If you take into account the shorter swings (for me the complex correction) it did produce a NSH

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 136 KB
  • #29,530
  • Jun 29, 2017 2:56am Jun 29, 2017 2:56am
Quoting KensTrader
{quote} Price has produced a NSH on short term. We are still in a complex correction of the long term where a NSH is expected. Correct me if am wrong brother. {image}
Missed on that, glad that i read it right...... Next
Still on Demo. Trading USDJPY
PeterT, Your posts have been of much help to me on USDJPY. As you try out on YM. Keep sharing your thoughts on USDJPY
Will be doing the same here.....
  • #29,531
  • Jun 29, 2017 2:58am Jun 29, 2017 2:58am
Quoting PeterT
{quote} Hi RajD My opinion for what it's worth! EURUSD The expectation (as defined by Mr. Pip's method) for EURUSD is actually a NSH, both short term and longer term. Be careful with predicting deep corrections after a rally. I lost a lot of money on that The rally is not over until it stops. We broke the high of august last year. It might keep going.. I'm not saying you are wrong. EURUSD might correct deep today. But the expecation is NSH until price breaks structure to the downside and produces a NSL. USDJPY broke...
Hi Peter,

You're right on the EURUSD. You never know when the correction will happen...I haven't placed my trade on it...it just achieved a NSH within the last hour. I was waiting to see if it reaches previous NSH and goes lower. That would have been my expectation to go short then.

However, overall there hasn't been a correction yet except for a crazy bear bar that went downward and that would be pre-order selling from the opening of New York at 12:00pm GMT. Anyways there hasn't been a correction since the past 2 days so i'm waiting for the short term structure to break before i make my trade.

Regarding USDJPY, I'm not sure if you reading the right chart. It's clearly a bull market and is achieving a NSH as we speak.

See attached
Attached Image (click to enlarge)
Click to Enlarge Name: usdjpy 290617.JPG Size: 114 KB
  • #29,532
  • Jun 29, 2017 3:06am Jun 29, 2017 3:06am
Quoting RajD
{quote} Hi Peter, You're right on the EURUSD. You never know when the correction will happen...I haven't placed my trade on it...it just achieved a NSH within the last hour. I was waiting to see if it reaches previous NSH and goes lower. That would have been my expectation to go short then. However, overall there hasn't been a correction yet except for a crazy bear bar that went downward and that would be pre-order selling from the opening of New York at 12:00pm GMT. Anyways there hasn't been a correction since the past 2 days so i'm waiting for...
Yes USDJPY is bullish. I was talking about very short term, see my previous post.
Now price clearly decided to go further up and a NSH is made short term and long term.
  • #29,533
  • Jun 29, 2017 3:10am Jun 29, 2017 3:10am
Quoting PeterT
{quote} Yes USDJPY is bullish. I was talking about very short term, see my previous post. Now price clearly decided to go further up and a NSH is made short term and long term.
True PeterT.
Happy to have you here PeterT and RajD
All looking at the same pair...
Lets milk this....
Expectation is a weak NSH on the long term...
  • #29,534
  • Jun 29, 2017 3:11am Jun 29, 2017 3:11am
Quoting KensTrader
{quote} Missed on that, glad that i read it right...... Next Still on Demo. Trading USDJPY PeterT, Your posts have been of much help to me on USDJPY. As you try out on YM. Keep sharing your thoughts on USDJPY Will be doing the same here.....
Thanks KensTrader I try to be honest and also post losing trades or BE's. Most of the time actually
I don't have anything to hide. I'm not very profitable yet, I'm honest about it. Still learning.
I'm posting my stuff so others can learn from my mistakes and from the feedback of the experts on my posts.

Glad to see there are more people also trading USDJPY

grtz Peter
  • #29,535
  • Jun 29, 2017 3:26am Jun 29, 2017 3:26am
Quoting KensTrader
{quote} True PeterT. Happy to have you here PeterT and RajD All looking at the same pair... Lets milk this.... Expectation is a weak NSH on the long term...
Thanks Kens..I actually went short on the USDJPY. Terrible mistake. I looked at the previous NSH and took a Fib of that to see how deep it would correct lol

Need to stick to expectations. Lesson learnt. Waiting for it to retrace back to where i bought so i can have a gracious exit or its a loss.
  • #29,536
  • Jun 29, 2017 3:36am Jun 29, 2017 3:36am
Quoting RajD
{quote} Thanks Kens..I actually went short on the USDJPY. Terrible mistake. I looked at the previous NSH and took a Fib of that to see how deep it would correct lol Need to stick to expectations. Lesson learnt. Waiting for it to retrace back to where i bought so i can have a gracious exit or its a loss.
Was always making the same mistake of going against the expectations.... was always on the losing side.
30% Vs 70% or more. That is helping me avoid going against the expectation.......
  • #29,537
  • Jun 29, 2017 3:40am Jun 29, 2017 3:40am
Quoting RajD
{quote} Thanks Kens..I actually went short on the USDJPY. Terrible mistake. I looked at the previous NSH and took a Fib of that to see how deep it would correct lol Need to stick to expectations. Lesson learnt. Waiting for it to retrace back to where i bought so i can have a gracious exit or its a loss.
I hope you learned your lesson and that you're not as stubborn as me.
It took me a while to get it out of my system.
It was a bad habit of mine to always want to trade corrections, something that was left from my pre-Mr. Pip trading.
You have to see that it is really not worth it. Just trade the expectation and in the direction of strength and you'll be right most of the time.
And you're trading in the direction of strength so you gain pips more easily and with less fear.
  • #29,538
  • Jun 29, 2017 3:47am Jun 29, 2017 3:47am
Don't know if this has been send before but this is the reply i got from Ninja Trader regarding margin requirement for futures trading on the YM

1) Intraday margin refers to orders opened and closed within the same day trading period. It is based on the times you referred to. The CME and CBOT operate Sunday through Friday 6pm EST all the way through the next day at 5pm EST. That means the market is open 23 hours per day from Sunday evening through Friday evening with just a one hour shut down period that is considered the overnight. Our day trading margins actually end 15 minutes before the actual close to give our order desk a chance to address any potential margin violations, so the end of intraday margin is actually at 4:45pm EST. If you keep your position open past this time, it will be carried over to the next day and subject to the higher exchange margin. Most traders exit their position at least an hour before this time as the market tends to slow down in the run up to the close. If you are only intending to day trade, then you would only be subject to the intraday margins. For the E-mini DOW, you would have a margin of $500 only unless you keep the position open past 4:45pm EST. If you do keep it open, then you would need at least $4,125 in the account to keep the position open until the next day.
  • #29,539
  • Jun 29, 2017 4:10am Jun 29, 2017 4:10am
Might have missed the train on YM..
Price came into AOI at 61.8 of main swing but rotation was not very good so I waited.
Seems now like it left without me

Someone got in?
  • #29,540
  • Jun 29, 2017 4:17am Jun 29, 2017 4:17am
Quoting PeterT
Might have missed the train on YM.. Price came into AOI at 61.8 of main swing but rotation was not very good so I waited. Seems now like it left without me Someone got in?
Not yet Peter. Maybe in another 5 more hours or so?
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