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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

  • #30,121
  • Jul 7, 2017 8:33am Jul 7, 2017 8:33am
Quoting Milfortra
{quote} It's not over till it's over....
It's good that the projection was not much for the immediate order flow to the upside. Can expect a deep depth.
  • #30,122
  • Jul 7, 2017 8:34am Jul 7, 2017 8:34am
Quoting Milfortra
{quote} It's good that the projection was not much for the immediate order flow to the upside. Can expect a deep depth.
Come on bears. Defend your area!
  • #30,123
  • Jul 7, 2017 8:34am Jul 7, 2017 8:34am
Quoting Mr. Pip
I'm down 11 points but the bears look like they may have something to say about it. Come on shit heads sell!
hahah yeah sell!!
  • #30,124
  • Jul 7, 2017 8:35am Jul 7, 2017 8:35am
Well it's over, catch you guys on Monday!
If you fail to plan, you plan to fail.
  • #30,125
  • Jul 7, 2017 8:36am Jul 7, 2017 8:36am
and thats it - 25
im done for today
have a nice weekend all en see you on monday
  • #30,126
  • Jul 7, 2017 8:36am Jul 7, 2017 8:36am
Quoting Mr. Pip
Well it's over, catch you guys on Monday!
Take care Mr Pip. See you on Monday!
  • #30,127
  • Jul 7, 2017 8:37am Jul 7, 2017 8:37am
See you guys on Monday too. Have a great weekend ahead!
  • #30,128
  • Jul 7, 2017 8:42am Jul 7, 2017 8:42am
Quoting jmezz
YM If it holds the open and rotates up I might long again.
Held open and 382. Thought I got shafted by entering too early on rotation bar but it played out.

Was looking to 43, 50, then 62 as targets. Once IB high was broken and we tested the 113 I decided to bail.

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  • #30,129
  • Jul 7, 2017 9:34am Jul 7, 2017 9:34am
I wanted to get some input about how I read the YM chart today if possible.

My first point is the NSH labelled a. I identified an HL at the 50% retrace of the swing. It took a while to move higher with a lot of smaller swings. This led to another NSH. I would almost consider this a complex correction to get to the NSH.

I then question is my HL at point b really an HL? Its a full retest of the previous one, but it held. Then I see complex correction for sure in the blue box, which eventually led to an NSH.

I didn't entirely expect an NSH since it retraced all the way to the previous HL at point b. As can be seen, I tried a short that failed.

In any event, ended the day +2.

Thanks for any input.
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  • #30,130
  • Jul 7, 2017 10:24am Jul 7, 2017 10:24am
Quoting Mr. Pip
{quote} cool
Nice! I especially like your lunchbox Mr. Pip
  • #30,131
  • Jul 7, 2017 10:27am Jul 7, 2017 10:27am
be careful during low volatility hours. there's been a lot of hijinks lately.
  • #30,132
  • Jul 7, 2017 11:14am Jul 7, 2017 11:14am
So the result of this week is disappointing.
After making a 114 points profit the week before, I managed to book a loss of -95 points this week.

Let's do better next week
Everyone have a nice weekend
  • #30,133
  • Jul 7, 2017 11:46am Jul 7, 2017 11:46am
Quoting csternfx
I wanted to get some input about how I read the YM chart today if possible. My first point is the NSH labelled a. I identified an HL at the 50% retrace of the swing. It took a while to move higher with a lot of smaller swings. This led to another NSH. I would almost consider this a complex correction to get to the NSH. I then question is my HL at point b really an HL? Its a full retest of the previous one, but it held. Then I see complex correction for sure in the blue box, which eventually led to an NSH. I didn't entirely expect an NSH since it...
Personally I don't think you misread with taking the short.
In the intraday orderflow, we were expecting a NSL (blue markings).
At the 78.6% correction of the intraday swing, bulls made a weak NSH in shorter term (yellowish markings), followed by a very deep correction (100%).
Expectation was still a NSH short term but that expectation was weakening.
It was a possibility that short term orderflow and intraday orderflow would align again.
Price came up after the 100% correction. A deep correction of that swing down could be expected.
Price reached 78.6% correction of that swing down, bears seemed to have some juice ready, produced a nice rotation candle at 78.6%.
I took that one. Other traders too.
It was not unreasonable to expect that short term and intraday would align and the bears would drive price down.
Unexpectedly (for some) and unfortunately, bulls came back and hit the stop losses of the short traders.
I was lucky I had to leave and had set to BE+2.

Other people were long and were right. But you have to ask them what they were thinking exactly ;-)
Hope this helps.
I may be wrong so if anyone disagrees, feel free to comment!

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  • #30,134
  • Jul 7, 2017 1:12pm Jul 7, 2017 1:12pm
So this week looks like a loss for me

3 days trading on ym Wed-Friday

7 trades taken

05/06/2017 YM Short -4
06/07/2017 YM Short 3
06/07/2017 YM Long 3
07/07/2017 YM Long 2
07/07/2017 YM Long -20
07/07/2017 YM Short -10
07/07/2017 YM Short -25

total -51 so not a complete disaster really i feel as if because it was a short week it has not has a chance for the trades to average out no real winning trades this week

CL i had 3 trades for -43 points again ive seen bigger swings than this so i am just going to make sure that i focus a little harder next week and try my best to get a few nice winning trades

anyways have a great weekend guys
  • #30,135
  • Jul 7, 2017 2:12pm Jul 7, 2017 2:12pm
YM also a loss for me this week

Mon Short +30
Tue - Holiday
Wed - Too busy at work
Thur - Long -38, Short -43, Long +3
Fri - Long +9, Short -13, Long +6

-46 for the week. Only week 2 of trading this so far. Last week I didn't trail stops and used profit targets. Wins were smaller than losses. Obvious way to lose. Looking forward to next week.
  • #30,136
  • Jul 7, 2017 9:30pm Jul 7, 2017 9:30pm
Quoting jmezz
{quote} Held open and 382. Thought I got shafted by entering too early on rotation bar but it played out. Was looking to 43, 50, then 62 as targets. Once IB high was broken and we tested the 113 I decided to bail. {image}
Fantastic reading of PA as usual. Nice to see you posting again!
  • #30,137
  • Jul 8, 2017 12:38am Jul 8, 2017 12:38am
Quoting jmezz
{quote} Held open and 382. Thought I got shafted by entering too early on rotation bar but it played out. Was looking to 43, 50, then 62 as targets. Once IB high was broken and we tested the 113 I decided to bail. {image}
Very nice jmezz glad you caught the long eventually
I was wondering.. Do you still assume strength in a level when it was crossed several times?
Price crossed the open several times as if it didn't exist.
Can I ask why do you still assume it has any value?
Or maybe it was just a marker you used to explain where you would go long?
(cuz there were other reasons to go long besides the open holding of course..)
  • #30,138
  • Jul 8, 2017 6:58am Jul 8, 2017 6:58am
Quoting PeterT
... Can I ask why do you still assume it has any value? Or maybe it was just a marker you used to explain where you would go long? (cuz there were other reasons to go long besides the open holding of course..)
I am not Jmezz but i'd like to offer some of my observations as i think they may help you understand why his trade had a high probability to succeed IMO. I am using MT4 and the CDF for Dow on a 15 min interval as i am not on my usual trading computer where i can use Ninja/Futures YM. Pretty close to it anyway.

Longer term view
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Close up view
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The key point to note is when price broke above the open with strength and the pullback to test the open on diminushing volume. In proportion to the strength we can conclude the bears had no interest to go short there.
  • #30,139
  • Jul 8, 2017 11:09am Jul 8, 2017 11:09am
Hey Mr Pip's and all! I'm completely new to Forex/trading. I stumbled across it when I was 18 but I lacked any real conviction in achieving long term success and my strategy was based off of "What do you think is going to happen next". Needless to say I was soon turned off by trading as I realized my "get rich quick" scheme was going to require dedication and work, and I quickly turned my attention elsewhere. Now 13 years later I have found forex and trading again not from a desire to get rich quick but out of a desire to set myself free from the system.
Anyway, I have been studying mostly forex for the past month(sometimes 24hours a day as I'm at home with a broken leg) or so and I'd like to say that this thread is a light in the depths of the dark and shark infested world of trading. Thank you so much! I am definitely looking forward to understanding all your lessons and putting them together. THANKS AGAIN!!

Bartosz
  • #30,140
  • Jul 8, 2017 9:39pm Jul 8, 2017 9:39pm
First week of live

Monday: 1 Trade NQ +28
Tuesday: Holiday period
Wednesday: 9 trades: NQ: -149
Thursday: Cooling off period after my disastrous performance on Wednesday
Friday: 2 Trade NQ +34 / YM +2
Net points: -85

Things to note: always cool down after a win or a lose to cool myself down to avoid taking any revenge trade.

Looking forward to next week again
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