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Ratios & Harmonics: a Different Way to Trade

  • #3,521
  • Mar 20, 2013 6:38pm Mar 20, 2013 6:38pm
jgadefelth, I believe the abcd pattern you referenced was invalidated when the retrace exceeded .786, according to Mr Pips's rules.
  • #3,522
  • Mar 21, 2013 2:13am Mar 21, 2013 2:13am
Quoting jack h
jgadefelth, I believe the abcd pattern you referenced was invalidated when the retrace exceeded .786, according to Mr Pips's rules.
It never did look


Best regards
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  • #3,523
  • Mar 21, 2013 4:56am Mar 21, 2013 4:56am
AUDNZD ABCD Aggressive C Trade I took the other day will probably move to BE by End of the Day

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Always Learning
  • #3,524
  • Mar 21, 2013 6:42am Mar 21, 2013 6:42am
Quoting shadodwel
How is the 95T working out for you? I like the idea of trading ticks. However, to trade ticks on MT4, is quite annoying. For every currency pair you want to trade you'd need to have two chart windows open. I was trading the 233 tick chart for a few days. I stopped though because in order to do it that way you needed to keep your computer on constantly if you wanted to get all the ticks. I wish MT4 could do this natively, but it doesn't. If anyone wants to know how to setup tick charts in MT4 ask. I'm not going to post how to do it in this thread...
Sorry for the late response.
Like I said March has been slow but here's one of the more active days in March. I Had 4 trades, 2 losers and 2 winners.
Both losers were "D" trades. The 2 "C" trades were taken from the fib 50 because of strong structure and retests, (not our normal rules but PA and structure sometimes works out to be a great trade for me)

Yea I know the MT4 has no tick charts but the M1 is very close and should get the same results. I used to trade the M1.
I was able to get a ninja demo for tick charts from my broker and then enter trades on my live acct. The reason I picked 95T is it was close to Mr Pips 233T. Any 89-100T chart will work, but you do get different PA, especially where the cndl closes, but the swings are the same, even on the M1.
Shadodwel check your PM.
PS: I only trade E/U and from 7-11am est so I want to catch a few trades thus the lower TF works best for me.
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Barry
  • #3,525
  • Mar 21, 2013 7:06am Mar 21, 2013 7:06am
Thanks Barry, I just checked my inbox. I find it ironic that I asked and the answer was awaiting me in my inbox already!! I'll write you back in a few. Anyways, yeah, PA on tick charts look totally different that the other charts. I plan on going to ninjatrader as soon as my account gets large enough. FXCM has minimum requirements for ninjatrader.

Anyways, I've been focusing on the 5 min time frames in the meantime. I like it a lot actually. There was a perfect ABCD trade on the EURUSD approximately 3 hours ago.

I think I'm going to focus mostly on the C entries.

Quoting Bary
Sorry for the late response.
Like I said March has been slow but here's one of the more active days in March. I Had 4 trades, 2 losers and 2 winners.
Both losers were "D" trades. The 2 "C" trades were taken from the fib 50 because of strong structure and retests, (not our normal rules but PA and structure sometimes works out to be a great trade for me)

Yea I know the MT4 has no tick charts but the M1 is very close and should get the same results. I used to trade the M1.
I was able to get a ninja demo for tick charts from my broker and...
  • #3,526
  • Mar 21, 2013 7:16am Mar 21, 2013 7:16am
Quoting shadodwel
Thanks Barry, I just checked my inbox. I find it ironic that I asked and the answer was awaiting me in my inbox already!! I'll write you back in a few. Anyways, yeah, PA on tick charts look totally different that the other charts. I plan on going to ninjatrader as soon as my account gets large enough. FXCM has minimum requirements for ninjatrader.

Anyways, I've been focusing on the 5 min time frames in the meantime. I like it a lot actually. There was a perfect ABCD trade on the EURUSD approximately 3 hours ago.

I think I'm going to focus mostly...
If your broker is FXCM they will give you a ninja demo. You just have to make request.
Barry
  • #3,527
  • Mar 21, 2013 7:21am Mar 21, 2013 7:21am
Really???????

Quoting Bary
If your broker is FXCM they will give you a ninja demo. You just have to make request.
  • #3,528
  • Mar 21, 2013 7:23am Mar 21, 2013 7:23am
Here's what I'm lookin at so far.
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Barry
  • #3,529
  • Mar 21, 2013 10:07am Mar 21, 2013 10:07am
What is the golden zone and why don't you take trades in there? Or, did you mean that due to spread, your C trades weren't executed? I'm thinking the latter.

Anyways, there were a few AB=CD trades on the EURJPY on the 5 minute. This pair scares the bejesus out of me. I need to build up the cajones to trade it. I've been burned BAD on this pair.

Quoting Bary
Here's what I'm lookin at so far.
  • #3,530
  • Mar 21, 2013 10:19am Mar 21, 2013 10:19am
Quoting shadodwel
What is the golden zone and why don't you take trades in there? Or, did you mean that due to spread, your C trades weren't executed? I'm thinking the latter.

Anyways, there were a few AB=CD trades on the EURJPY on the 5 minute. This pair scares the bejesus out of me. I need to build up the cajones to trade it. I've been burned BAD on this pair.
I won't speak for Bary, but his style includes more discretionary aspects, so while the price was close to the golden zone, I do not think he took trades. My metatrader is down today, so no trading. But I do notice on his chart some nice patterns, including those he pointed out. Price also just entered the 61.8% on the huge swing lower. As we know, there is always opportunity!

As for EURJPY, yikes. There are opportunities there as well, but the spread coupled with wild, wild price action keeps me away. Plus I would rather master just one market.

Cheers!
  • #3,531
  • Mar 21, 2013 10:33am Mar 21, 2013 10:33am
Quoting shadodwel
What is the golden zone and why don't you take trades in there? Or, did you mean that due to spread, your C trades weren't executed? I'm thinking the latter.

Anyways, there were a few AB=CD trades on the EURJPY on the 5 minute. This pair scares the bejesus out of me. I need to build up the cajones to trade it. I've been burned BAD on this pair.
GZ golden zone is the 61.8-78 zone where we take aggressive C trades. PRZ price reversal zone where we take D trades.
I take trades there but price didn't give me an entry so I just noted that on the chart.
I don't enter any trade C or D unless there's confluence in the zone, and I prefer that my entry is in the zone. If price closes out of the zone I usually pass.
Barry
  • #3,532
  • Mar 21, 2013 12:03pm Mar 21, 2013 12:03pm
Quoting shadodwel
Really???????
Hey Shadodwel, if you you want a more accurate chart, with 5 decimals, follow the instructions of this link http://www.ninjatrader.com/support/forum/showthread.php?t=52220 . In fact, by default, NT is set to 4 decimals.
  • #3,533
  • Mar 22, 2013 7:23am Mar 22, 2013 7:23am
Ninjatrader doesn't work for me. I downloaded it on both of my laptops. On the first one, it doesn't update data. I am guessing this is an FXCM problem. On my other laptop it kept crashing. So, unfortunately, I had to uninstall it.

Quoting dibo90
Hey Shadodwel, if you you want a more accurate chart, with 5 decimals, follow the instructions of this link http://www.ninjatrader.com/support/forum/showthread.php?t=52220 . In fact, by default, NT is set to 4 decimals.
  • #3,534
  • Mar 22, 2013 9:21am Mar 22, 2013 9:21am
Hi Bary, I just wanted to pick your brain about something. I wanted to ask you your point of view on the eurusd 95T chart you posted yesterday. I see that there isn't any confluence in the PRZ that you boxed out. First question, how far back do you usually look to find confluence? I mean, if you look to your left you will see some but it seemed too long in the past. Do you consider a max amount of time before you decide that previous areas of confluence are irrelevant?

If you notice on your chart the 127 extension of AB is EXACTLY the price that the PRZ starts at. Well, almost, I know it's not if you take spread into consideration. Is your minimum entry point in the PRZ the 138 extension of AB?

Quoting Bary
Here's what I'm lookin at so far.
  • #3,535
  • Mar 22, 2013 12:52pm Mar 22, 2013 12:52pm
Quoting shadodwel
Ninjatrader doesn't work for me. I downloaded it on both of my laptops. On the first one, it doesn't update data. I am guessing this is an FXCM problem. On my other laptop it kept crashing. So, unfortunately, I had to uninstall it.
Hi shadodwel!

I work at FXCM and would like to see if I can help you with connecting through NinjaTrader. I have to say that I’m not an expert with NinjaTrader, however I was able to successfully connect. Ninja’s website has steps for logging in listed here (http://www.ninjatrader.com/ConnectionGuides/FXCM-Connection-Guide.php). Looks to be the same as logging into any broker; did any of the steps not work for you? What happened after you attempted to connect?

BB
  • #3,536
  • Edited Mar 23, 2013 3:22am Mar 22, 2013 4:25pm | Edited Mar 23, 2013 3:22am
Quoting shadodwel
Hi Bary, I just wanted to pick your brain about something. I wanted to ask you your point of view on the eurusd 95T chart you posted yesterday. I see that there isn't any confluence in the PRZ that you boxed out. First question, how far back do you usually look to find confluence? I mean, if you look to your left you will see some but it seemed too long in the past. Do you consider a max amount of time before you decide that previous areas of confluence are irrelevant?

If you notice on your chart the 127 extension of AB is EXACTLY the price that...
Hey Shadodwel
TOS has tick charts as well and i played around with them and it seemed to have the same charts as Mr PiP. I trade longer term stuff so other than getting up to speed on the Harmonics patterns that Mr pip has been teaching I don't use them. Don't know how long or what you have to do to get a demo with them , cause I use them for mostly Live futures. I like them (TOS)cause you can trade off of a Mac or PC with them. Hope this helps you out if you need it

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Always Learning
  • #3,537
  • Mar 24, 2013 3:27pm Mar 24, 2013 3:27pm
It connected just fine. I am able to get charts that are based on minutes. However, when I try to get charts based on ticks it just hangs and doesn't do anything. If It displays loading data but it doesn't load. I've let it sit for over an hour to see if it would do anything. I'm going to register for another demo and try it again.

Quoting Brad Bonds
Hi shadodwel!

I work at FXCM and would like to see if I can help you with connecting through NinjaTrader. I have to say that I’m not an expert with NinjaTrader, however I was able to successfully connect. Ninja’s website has steps for logging in listed here (http://www.ninjatrader.com/ConnectionGuides/FXCM-Connection-Guide.php). Looks to be the same as logging into any broker; did any of the steps not work for you? What happened after you attempted to connect?

BB
  • #3,538
  • Mar 24, 2013 3:41pm Mar 24, 2013 3:41pm
I hope this thread isn't dying. I think this trading system is awesome. I've been back testing on the 4hr charts, and I would encourage you all to check this time frame too. The aggressive C entries are almost perfect and the PRZ is respected, most of the time.
  • #3,539
  • Mar 24, 2013 4:27pm Mar 24, 2013 4:27pm
Quoting shadodwel
Hi Bary, I just wanted to pick your brain about something. I wanted to ask you your point of view on the eurusd 95T chart you posted yesterday. I see that there isn't any confluence in the PRZ that you boxed out. First question, how far back do you usually look to find confluence? I mean, if you look to your left you will see some but it seemed too long in the past. Do you consider a max amount of time before you decide that previous areas of confluence are irrelevant?

If you notice on your chart the 127 extension of AB is EXACTLY the price that...
When looking for confluence I usually only consider S/R levels within the last 24hrs, unless it's a RN or an area I've seen the last few days repeatedly.
My look back would be different on a higher TF.

The PRZ in that chart was drawn just to identify that area. So if price did get up there, with no other confluence I might wait for a dbl top for trade entry.
Yes I like to take the trade in the 138-161 extension zone to limit risk. I have notice several times now that price stops right at the 127, so I might have to consider trades at the level. I'll be watching that.

SO what pairs do you look at on the H4 that you're saying the aggressive C look good?

I don't know why your ninja tick charts wont load. Mine take awhile 3-5 min. to load. Look in date series and make sure your only loading 3-5 days worth of data. When I load more that that it takes alot longer.

I have TOS charts also. TOS 233T doesn't match up well to the ninja 233T. In fact my FXCM feed must be different than Mr Pips kenectic feed because my 95T comes close to Mr Pips 233T. I guess it doesn't matter if you don't trade the lower TF charts.
Barry
  • #3,540
  • Mar 24, 2013 7:33pm Mar 24, 2013 7:33pm
Hello Traders,

Just want to say that I am here and do check in to see what's going on and look at what you all are up to. We are not ready to move forward yet and ask that you all stick to what has been covered. I have lots more to share with you but do t have the time to police and keep things on track. Please help me help you.
If you fail to plan, you plan to fail.
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