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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

  • #30,761
  • Jul 31, 2017 1:16am Jul 31, 2017 1:16am
Potential trade setup:

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Retraced deeply showing weakness in bulls.
Preferable to buy at deep retracement to minimize risk.

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Broken strong support levels.
Preferable to short at 618, however, the previous support at 236 should act as strong resistance.
  • #30,762
  • Jul 31, 2017 4:52am Jul 31, 2017 4:52am
Quoting kelvinyun
Potential trade setup: {image} Retraced deeply showing weakness in bulls. Preferable to buy at deep retracement to minimize risk. {image} Broken strong support levels. Preferable to short at 618, however, the previous support at 236 should act as strong resistance.
Same thoughts on USDJPY.
Seeing an ABCD pattern completion with weaker second leg, expecting 61.8% correction as profit target.
Looking for entry long after 61.8% correction of AB=CD in the short term. If PA allows it.

Ideal scenario:
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  • #30,763
  • Jul 31, 2017 5:14am Jul 31, 2017 5:14am
I doubt I will get much movement to show a profit this month. So end results for July is -4T plus 13.6T commission for trades, so -17.6T for the month. There was a glitch so I had to manually exit. Otherwise I would have had profit this month.

Just so everyone knows I will not be turning this into a thread on robot trading., so I will refrain from posting for now. I want to keep thread rolling with the computers between our ears.

Headed to work. Happy Trading
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Empower Your Mind
  • #30,764
  • Edited 7:11am Jul 31, 2017 7:00am | Edited 7:11am
Quoting PeterT
{quote} Same thoughts on USDJPY. Seeing an ABCD pattern completion with weaker second leg, expecting 61.8% correction as profit target. Looking for entry long after 61.8% correction of AB=CD in the short term. If PA allows it. Ideal scenario: {image}
Long USDJPY.
Price did a 100% correction in the immediate, then made a very weak NSL.
Price came within 1 pip of AOI.
No nice rotation candle.
But I saw bear attempts being rejected in the immediate and didn't expect price to go deeper.
Also I didn't want to miss the train as I'm trading the longer term and don't want to wait days for a new opportunity.
If everything goes according to plan I'll only miss a slightly better price if price does correct a little deeper.

SL beneath last (intraday) NSL
Potential profit target around 111.50 (61.8% correction of longer term ABCD pattern completion)

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  • #30,765
  • Jul 31, 2017 10:29am Jul 31, 2017 10:29am
1st +4
2nd +12
3rd -4 , this one was an issue, I just closed my contract, but it took extra 1 short..............shit!!!
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  • #30,766
  • Jul 31, 2017 10:55am Jul 31, 2017 10:55am
how many times have i wished i could see a pro trader place a trade and watch from start to finish with no bs .
and here you have it Mr pip is the real deal, at the very least you see how a trade should be placed and manged.
that alone is mind blowing. this thread is a god send to me thank you all so much!
  • #30,767
  • Jul 31, 2017 1:46pm Jul 31, 2017 1:46pm
Quoting PeterT
{quote} Same thoughts on USDJPY. Seeing an ABCD pattern completion with weaker second leg, expecting 61.8% correction as profit target. Looking for entry long after 61.8% correction of AB=CD in the short term. If PA allows it. Ideal scenario: {image}
SL hit -25 pips
  • #30,768
  • Jul 31, 2017 3:27pm Jul 31, 2017 3:27pm
YM today
-11 -14 +1 +2
All against OF. Did not break rules.
Think I'm having problems setting a profit target when trading against OF.
Considering just always taking profit immediately when a 1:1 R:R is reached, or trailing very aggressively.
Most of the time this kind of entries don't lead to a big correction or reversal and I miss a lot of points giving the trade room and waiting for my SL to be hit.

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  • #30,769
  • Jul 31, 2017 3:29pm Jul 31, 2017 3:29pm
Thinking a lot about my trading this weekend and have decided I am going to post all my trades for all to see, warts n all.

My current level is that when I am focused and trade properly (rather than effectively gambling!!) I am doing well, it is the lack of discipline every now and then that kills me. Last week I traded 4 days, 3 days in profit and 1 day a loss. Overall result, BE!!??!! You guessed it, the gambling day was the loser!!

My trade tonight was OKAY. Price had been slowing and hit a triple top then on the third there was a sharp reaction, then a small correction where my first short entry was (only a small entry as thought it may be a little early, which it was). My second entry can in the golden zone of the last swing down, this averaged me in at the light blue line.

For both trades my SL was 4-5 pips above the last high, so when priced then tested this area it came within 4-5 pips of that level . I put this down to good stop placement and NOT luck. Price then moved down off the previous high into an area of profit. Now due to the fact it was coming close to the close of the day I decided to TP at structure, netting 20 pips in total, a good days work.

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Still a few little areas I need to brush up on as I go.
  • #30,770
  • Aug 1, 2017 4:20am Aug 1, 2017 4:20am
Quoting PipTrendz
Thinking a lot about my trading this weekend and have decided I am going to post all my trades for all to see, warts n all. My current level is that when I am focused and trade properly (rather than effectively gambling!!) I am doing well, it is the lack of discipline every now and then that kills me.
I also trade better when I post the results on the thread.
It usually makes me think twice as I don't want to post stupid entries on the thread and look like an idiot haha
  • #30,771
  • Edited 5:26am Aug 1, 2017 4:42am | Edited 5:26am
My analysis on USDJPY


Intraday: NSL

- Market is currently in correction from yesterdays bearish swing.
- With the london market open, there has been a very weak NSH on the short term (expectation is a deep correction to 61.8 to 78.6 Fib) . There is structure there so market is correcting there at the moment so waiting to see what the market does later
- My expectation is market is looking to correct the swing (shown on 5m chart). It has already reached the 50 Fib and there is structure to the left but the bulls came there with strength and will look to see if they make a NSH on the short term
- I would like it to come to the 61.8 Fib for a better R:R
- How the bulls reach that point and how long is a major concern
- There is a three harmonic completion (it's a lil off but it happened).

Long Term: NSL

- Now the 15m is what i use for my analysis
- It achieved its NSL but yest was a big harmonic completion so was disappointed to see it not come through (Complete the LH at the 61.8 and then make a NSL) - - As of now, the most interesting structure is the large structure in the 15m chart but it's well below the 38.2 Fib but a lot of violent trades took place in that region so will look out for that
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  • #30,772
  • Aug 1, 2017 4:57am Aug 1, 2017 4:57am
Quoting 1 Day ...
Hi all......hopefully someone can point me in the right direction.......i've been following Mr Pip's thread for a while, just applying it to forex though, and my trading is improving rapidly, but having been a slave to MT4 for years i want to make the move from my broker (ETX - would not recomend) and to trade ym-dow -jones.......using same platform as most of you good ppl use.....i normally trade with lot sizes varying between 0.10 to 0.20 pending currency pair....how big of a transition am i facing ?? ps....thanks in advance for any advice.
If you plan to switch to trade live on future your biggest transition would probably take note that ninjatrader do not trade in mini lot sizes and the minimum size on the futures market is 1 lot.

Also when doing live trading is also good to keep in mind that you should at least have US$500/contract in your account for day trading otherwise you may face margin violation which is $25 for first timer and $50 for subsequent violation. You can find the margin requirement for each instruments on their website as well for more details.

I have also posted this previously from my exchange with 1 of the sales staff at ninjatrader
Quoting Aluunatic
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.
For me i started live with $3000 as inital capital not including the other expenses which i have spend so far notably the license fee($1196 - i bought the lifetime license fee) + $21 market data fee per month(or if you only plan to trade the YM you probably could just select the cheapest one which is $7 / month)

the demo on ninja last 2 weeks and once you are comfortable with everything you can find the step by step instruction on how to setup for your live trading. Hope this helps
  • #30,773
  • Aug 1, 2017 8:41am Aug 1, 2017 8:41am
still keep 1 contract, move SL to +21.
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  • #30,774
  • Aug 1, 2017 8:45am Aug 1, 2017 8:45am
+23 in average.
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  • #30,775
  • Aug 1, 2017 9:06am Aug 1, 2017 9:06am
Quoting Victor_Lin
+23 in average. {image}
Hey Victor, it's looking like a good morning right?
I was looking at your entry, and my rookie eye tells me the expectation is still a NSH until the white line i drew is broken...
Please share what you were seeing before entering. I see a trend line. Was that your trigger?
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  • #30,776
  • Aug 1, 2017 9:30am Aug 1, 2017 9:30am
Quoting josid
{quote} Hey Victor, it's looking like a good morning right? I was looking at your entry, and my rookie eye tells me the expectation is still a NSH until the white line i drew is broken... Please share what you were seeing before entering. I see a trend line. Was that your trigger? {image}
Sorry to answer but,

I think that the expectation is not a NSH, but a HL, and only after that HL, the NSH.

So, it was doing a NSH, it is expected to do another NSH if !!!! it does a HL. ( remember, its NSH, HL, NSH, HL, NSH, HL, etc ).
  • #30,777
  • Aug 1, 2017 9:51am Aug 1, 2017 9:51am
Quoting josid
{quote} Hey Victor, it's looking like a good morning right? I was looking at your entry, and my rookie eye tells me the expectation is still a NSH until the white line i drew is broken... Please share what you were seeing before entering. I see a trend line. Was that your trigger? {image}
It's broken micro order flow with strong movement. The white line you drew was almost hit.
When price bounce up to the structure and can't continue to went up, I decided to place short.
Besides, it break the trend line. And RR is good.
BTW, before market open, I've prepared what kind of condition I should put a trade.
  • #30,778
  • Aug 1, 2017 9:51am Aug 1, 2017 9:51am
Quoting pereiraalex
{quote} Sorry to answer but, I think that the expectation is not a NSH, but a HL, and only after that HL, the NSH. So, it was doing a NSH, it is expected to do another NSH if !!!! it does a HL. ( remember, its NSH, HL, NSH, HL, NSH, HL, etc ).
Thanks pereiraalex.
My question was about his entry. And my point about NSH is by the way... just driving that the general expectation is up. It is debatable that HL is already on the chart.
  • #30,779
  • Aug 1, 2017 9:52am Aug 1, 2017 9:52am
Quoting Victor_Lin
{quote} It's broken micro order flow with strong movement. The white line you drew was almost hit. When price bounce up to the structure and can't continue to went up, I decided to place short. Besides, it break the trend line. And RR is good. BTW, before market open, I've prepared what kind of condition I should put a trade.
Thanks for the insight!
  • #30,780
  • Aug 1, 2017 11:23am Aug 1, 2017 11:23am
went short at 925, almost hit my SL.
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