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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

  • #42,161
  • Jul 26, 2018 10:35am Jul 26, 2018 10:35am
Quoting Timwelch
Even in the "valley of indecision"... Harmonics are golden. :-) {image}
Good to see you Tim
If you fail to plan, you plan to fail.
  • #42,162
  • Jul 26, 2018 10:40am Jul 26, 2018 10:40am
YM - long at 25529. I give this one a 50/50 but Im in.
Target 25580
  • #42,163
  • Jul 26, 2018 10:52am Jul 26, 2018 10:52am
Quoting Pair-me-up
Yesterday, I had 1 win and 3 loses. Today I am doing better. I might hold this one for more than a day.. Time will tell. My forecast is that if it hits 25330 with some power then I will start to look for shorts around 25504. {image}
I didn't take any trades tonight as I was out watching that New Mission Impossible movie (Fall Out) with my wife and my mother in law. Coming back to the charts after the movie and seeing my forecast coming to pass from 2 days ago really gives me a confidence boost in having an expectation and how powerful mathematical numbers can be in projecting areas of interest.
Luck has no place in trading. Leave that for the poker table.
  • #42,164
  • Jul 26, 2018 10:57am Jul 26, 2018 10:57am
Quoting Pair-me-up
{quote} I didn't take any trades tonight as I was out watching that New Mission Impossible movie (Fall Out) with my wife and my mother in law. Coming back to the charts after the movie and seeing my forecast coming to pass from 2 days ago really gives me a confidence boost in having an expectation and how powerful mathematical numbers can be in projecting areas of interest.
Was it good?
If you fail to plan, you plan to fail.
  • #42,165
  • Jul 26, 2018 11:01am Jul 26, 2018 11:01am
Quoting Mr. Pip
{quote} Was it good?
Honestly I hate being dragged to see Mission Impossible movies. Convincing my wife other wise is the real mission impossible ha ha ha, nevertheless, it was pretty darn good. I am glad it surpassed my expectations.
Luck has no place in trading. Leave that for the poker table.
  • #42,166
  • Edited 11:19am Jul 26, 2018 11:03am | Edited 11:19am
Quoting bmdenton23
YM - long at 25529. I give this one a 50/50 but Im in. Target 25580
Moved to BE
Taken out +1

Trying again. Long at 25529 (same price).
....update moving to BE a bit early...up +16.

Target this time is top of the range, 565
...update another BE +1

See everyone tomorrow.
  • #42,167
  • Jul 26, 2018 11:23am Jul 26, 2018 11:23am
I just installed an update of Ninja Trader 8 and it messed up my chart alignments. So, I had to get out a couple of calculators and calibrate some of my areas of interest. I noticed that price was in an area of interest for a counter trend move with in this strong bull movements, so I decided to hope on.
Attached Image (click to enlarge)
Click to Enlarge Name: YM 09-18 (233 Tick).png Size: 32 KB
Luck has no place in trading. Leave that for the poker table.
  • #42,168
  • Jul 26, 2018 11:38am Jul 26, 2018 11:38am
Update: Locked in some points and getting to go to sleep. Have a nice night all. Or have a nice day if you are on other parts of the globe.
Attached Image (click to enlarge)
Click to Enlarge Name: YM 09-18 (233 Tick).png Size: 34 KB
Luck has no place in trading. Leave that for the poker table.
  • #42,169
  • Jul 26, 2018 11:39am Jul 26, 2018 11:39am
Out for +24 while posting the chart above.
Luck has no place in trading. Leave that for the poker table.
  • #42,170
  • Edited 3:06pm Jul 26, 2018 1:56pm | Edited 3:06pm
YM short. Let's see if the sellers can defend this area.
Attached Image (click to enlarge)
Click to Enlarge Name: YM 09-18 (233 Tick) 2018_07_26.png Size: 54 KB


Update: BE
Attached Image (click to enlarge)
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Out at BE.
That famous one point.
Attached Image (click to enlarge)
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  • #42,171
  • Edited Jul 27, 2018 1:48am Jul 26, 2018 1:57pm | Edited Jul 27, 2018 1:48am
Quoting Kayjay2011
YM short. Let's see if the sellers can defend this area. {image}
Took the same trade.

Update: Ended up the same way.
  • #42,172
  • Jul 26, 2018 3:07pm Jul 26, 2018 3:07pm
And another harmonic as soon as the market closed. It's like price is attracted to these lines.
Attached Image (click to enlarge)
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Markets can remain irrational longer than you can remain solvent - JMK
  • #42,173
  • Jul 27, 2018 1:49am Jul 27, 2018 1:49am
We see a nice (possible) harmonic move into criteria 2, and then a nice (possible) move into PRZ as shown as the top red box.

Currently at 2 BE's and 1 loser for the week, still got some trades running.
Attached Image (click to enlarge)
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"Luck is when opportunity meets preparation"
  • #42,174
  • Jul 27, 2018 3:42am Jul 27, 2018 3:42am
Quoting bmdenton23
{quote} I wait for a test of structure and then lock in anything logical. That test of structure doesn't necessarily have to happen at the NSH/NSL. I'm attaching a live forex example. You can see my Break Even point marked and where I moved my stop loss to. I don't want to field many questions right now about the platform in the picture. It's my platform, it utilizes a popular API. It implements our strategy by allowing me to set a break even point at which it automatically moves to BE. It allows me to set swing points, it automatically determines...
Hey BM,

How do you deal with the news events that affect FX. Yesterday the USD GDP Price Index had a big impact on price. Do you still stick to your expectations or do you let the dust settle first and stay out?

Also noticed a lot of currency pairs on your chart. Do you trade all of them? And how do you deal with exposure to one currency?

Thanks.

Regards, Gunnar
  • #42,175
  • Jul 27, 2018 5:06am Jul 27, 2018 5:06am
Quoting Bruin813
{quote} Hey BM, How do you deal with the news events that affect FX. Yesterday the USD GDP Price Index had a big impact on price. Do you still stick to your expectations or do you let the dust settle first and stay out? Also noticed a lot of currency pairs on your chart. Do you trade all of them? And how do you deal with exposure to one currency? Thanks. Regards, Gunnar
I would also be interested to know how to deal with this. Logically i would say that price action is price action, no matter what reason sellers or buyer have to move price.
  • #42,176
  • Jul 27, 2018 8:54am Jul 27, 2018 8:54am
Quoting Bruin813
{quote} Hey BM, How do you deal with the news events that affect FX. Yesterday the USD GDP Price Index had a big impact on price. Do you still stick to your expectations or do you let the dust settle first and stay out? Also noticed a lot of currency pairs on your chart. Do you trade all of them? And how do you deal with exposure to one currency? Thanks. Regards, Gunnar
Quoting MarkStan
{quote} I would also be interested to know how to deal with this. Logically i would say that price action is price action, no matter what reason sellers or buyer have to move price.
I evaluate where price is in the swing and decide whether some volatility is going to make any difference to me. Scheduled High Impact news may affect my decision to get into the trade but it rarely affects my decision making once I'm in the trade. The one exception to that may be when I'm very near my targets. Having said that, I am very aware of scheduled high impact news and don't ignore it on FX, hence the pic of the news I pull into my platform through forexfactories xml feed: https://cdn-nfs.forexfactory.net/ff_calendar_thisweek.xml?

As far as the number of FX pairs, I trade 30 or so pairs on high time frames, but only trade low spread pairs on smaller time frames. I tend not to care about my exposure or over exposure to a particular currency. If I'm in 3 FX pairs each tied to the CAD, and oil takes a hit, and I lose on 3 trades, it's just 3 losses. It could've just as easily been 3 big wins with good R:R so I don't worry about it.
Attached Image
  • #42,177
  • Edited 10:41am Jul 27, 2018 9:00am | Edited 10:41am
Pain train on the M6E

Update: Stopped at -16
Attached Image (click to enlarge)
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  • #42,178
  • Jul 27, 2018 9:25am Jul 27, 2018 9:25am
Quoting AzizLight
Pain train on the M6E {image}
Hi AzizLight,

do you have other trade earlier on ?
  • #42,179
  • Jul 27, 2018 9:37am Jul 27, 2018 9:37am
Quoting 6288monkey
{quote} Hi AzizLight, do you have other trade earlier on ?
I did. It was a poor entry for fear of missing out. My original plan this morning was to enter where I did on the second trade but I jumped the gun on the first with the stall at the retest short term shoot up from the news event. Should have stuck with the original plan. -14 pips on the first one.

This second entry I'm okay with although I'll be lucky to get to break even.

Still making bad decisions here and there but if I can knock off the jitters and stick with the plan I feel like I'm starting to turn the corner on my trading.
  • #42,180
  • Jul 27, 2018 9:45am Jul 27, 2018 9:45am
Quoting AzizLight
{quote} I did. It was a poor entry for fear of missing out. My original plan this morning was to enter where I did on the second trade but I jumped the gun on the first with the stall at the retest short term shoot up from the news event. Should have stuck with the original plan. -14 pips on the first one. This second entry I'm okay with although I'll be lucky to get to break even. Still making bad decisions here and there but if I can knock off the jitters and stick with the plan I feel like I'm starting to turn the corner on my trading. ...
Can post which trade you took?

i also looking at the same market for 9 hour already
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