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Ratios & Harmonics: a Different Way to Trade

  • #6,381
  • Dec 19, 2013 11:10am Dec 19, 2013 11:10am
For the people on Ninjatrader, how do you draw trades onto the chart, cannot find it anywhere?
  • #6,382
  • Dec 19, 2013 11:13am Dec 19, 2013 11:13am
Quoting horuxito
{quote} Nope. That is London close calmed period of time in a choppy day after a big FOMC storm the previous day. Besides decreasing momentum needs to be observed in swing impulses going towards a price level. You cannot talk of momenum contained in the same range. Remember momentum is a combo of rejection and projection, combined with horizontal space. Those things provide our slope.
Can you elaborate this with an example of correct analyzing and incorrect analyzing?
-milkeyway
  • #6,383
  • Dec 19, 2013 11:23am Dec 19, 2013 11:23am
Quoting kumaramy
{quote} Can you elaborate this with an example of correct analyzing and incorrect analyzing?
Mr Pip explains it here.

http://www.youtube.com/watch?v=u8eGrIvlCBQ
  • #6,384
  • Dec 19, 2013 11:27am Dec 19, 2013 11:27am
Quoting kumaramy
{quote} What is your view about my GBPJPY trade. ?
I haven't seen the JPY pairs for a while. Never have traded the Geppy but the Ninja hurt my feelings more than once lol. (Btw, here is a link to know the most common forex pairs nicknames: http://www.cutthespread.com/spread-betting/currency-pairs-nicknames

I know you've been practicing price action and momentum a lot. It's all part of building a case. I particularly focus my trades in the 2 words of the title of this thread: ratios and harmonics. I feel some haven't understood yet what harmonics mean. They don't mean patterns, they mean harmonic projections taken in retracements from previous established swings. You do this well since you are not focused on patterns.

My take is that the market is currently licking its wounds from yesterday. We are in a range period so any trade might work.

I'd be careful with TF's lower than H1 after London Close since they won't provide you with a good measurement of momentum. High volatility is contained from London Open to London Close, and a little of Tokyo session for JPY pairs. You don't need to care about that if you use tick charts or constant range bars since you won't get much bars if there isn't much activity (volatility and volume).

I see you are trading with 1 full lot, I don't know if it's demo or not, but if it isn't real yet you should practice with the lottage you are planning to use when you start real.

In my case I am, let's say, semi demoing, I am using very little lots since I feel I can commit better with analysis if I pay my lesson. If my stop is 20 pips I'm willing to pay $10 or $15 bucks for that lesson. Demo trade is really dangerous because you don't feel the pain of losing real money. And trust me, 0.1 lots provide the same level of stress than $10 per pip. I prefer to practice in a simulator and use live trading with real money, even if it's little money.
Best time to plant a tree was 20 years ago, second best is now
  • #6,385
  • Dec 19, 2013 11:29am Dec 19, 2013 11:29am
Quoting PipTrendz
{quote} Mr Pip explains it here. http://www.youtube.com/watch?v=u8eGrIvlCBQ
Exactly.
Best time to plant a tree was 20 years ago, second best is now
  • #6,386
  • Dec 19, 2013 11:36am Dec 19, 2013 11:36am
Quoting horuxito
{quote} Exactly.
I watched it already but do you mean we should draw swings only in trend. Not in Range trading/consolidation.?
-milkeyway
  • #6,387
  • Dec 19, 2013 11:44am Dec 19, 2013 11:44am
Quoting monocor
{quote} ... I think it is a bat. Or I didn't take the swing right ...
You did take ABCD swing right!!!

But IMHO you didn't take bat pattern right:
1. there is no bat in the moment
2. there is no rule to sell C point @ bat playbook
  • #6,388
  • Dec 19, 2013 11:44am Dec 19, 2013 11:44am
Quoting kumaramy
{quote} I watched it already but do you mean we should draw swings only in trend. Not in Range trading/consolidation.?
Price is always contained within a range, that's the funny thing. Even when you are going from the roof to the floor of the range, during that micro trend price is contained within a range. This is called the fractal nature of the markets. When you feel you are inside a range you should amplify your view to see what is the trend. Price needs to constantly break micro ranges or consolidation periods in order to continue trending in the bigger ranges.

For example the EURUSD, we all know is contained within a huge range of 2500 pips or so, 1.20 to 1.42. But inside that range we have all sorts of stuff going on.

What I mean with the correct measurement of momentum is that you project those swings to a valid PRZ, you don't measure from the roof to the floor of the range, but following the steps of that trend.

Mr. Pip's video explains that very well.
Best time to plant a tree was 20 years ago, second best is now
  • #6,389
  • Dec 19, 2013 11:47am Dec 19, 2013 11:47am
Quoting horuxito
{quote} In my case I am, let's say, semi demoing, I am using very little lots since I feel I can commit better with analysis if I pay my lesson. If my stop is 20 pips I'm willing to pay $10 or $15 bucks for that lesson. Demo trade is really dangerous because you don't feel the pain of losing real money. And trust me, 0.1 lots provide the same level of stress than $10 per pip. I prefer to practice in a simulator and use live trading with real money, even if it's little money.
I'm with you Horuxio!

Mini or micro lots for forward testing and simulator (forex tester 2) for backtesting.
Playing with 50k demo account doesn't teach money and risk management.
I'm using 2% risk on my account so I can pay for many lessons even with small account.
  • #6,390
  • Dec 19, 2013 11:56am Dec 19, 2013 11:56am
Quoting bkd
{quote} I'm with you Horuxio! Mini or micro lots for forward testing and simulator (forex tester 2) for backtesting. Playing with 50k demo account doesn't teach money and risk management. I'm using 2% risk on my account so I can pay for many lessons even with small account.
You are using the best simu. Mine is more humble running in strategy tester, but is cool.
Best time to plant a tree was 20 years ago, second best is now
  • #6,391
  • Dec 19, 2013 12:05pm Dec 19, 2013 12:05pm
Quoting PipTrendz
For the people on Ninjatrader, how do you draw trades onto the chart, cannot find it anywhere?
To draw trades that you placed within Ninjatrader, you should right-click on your chart and select Data Series.
In the window that opens, the very last option on the right hand side is "Plot executions"... sounds kinda sinister, doesn't it?

If you don't place your trades from within Ninjatrader, you can always use arrows, text boxes and/or the ruler.

Hope that helps.
  • #6,392
  • Dec 19, 2013 1:07pm Dec 19, 2013 1:07pm
Quoting bkd
{quote} You did take ABCD swing right!!! But IMHO you didn't take bat pattern right: 1. there is no bat in the moment 2. there is no rule to sell C point @ bat playbook
I was talking about D completion. With your chart Gartley perfectly lined up with PRZ for ABCD, which is forming. But for my Bat, ABCD extend to 160%. Will see
Even though I walk through the darkest valley, I will fear no evil
  • #6,393
  • Dec 19, 2013 1:17pm Dec 19, 2013 1:17pm
I like those videos Mr. Pip did a great job!
Even though I walk through the darkest valley, I will fear no evil
  • #6,394
  • Dec 19, 2013 2:03pm Dec 19, 2013 2:03pm
im still holding on my sl is not taken out



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  • #6,395
  • Dec 19, 2013 2:14pm Dec 19, 2013 2:14pm
Quoting Forexbuster
im still holding on my sl is not taken out {image}
It's been slim picking for me today. This Agg C short was the only trade that caught my interest.
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  • #6,396
  • Dec 19, 2013 2:18pm Dec 19, 2013 2:18pm
Quoting Forexbuster
im still holding on my sl is not taken out {image}

i like the price e to break the 38% in order to go up

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  • #6,397
  • Dec 19, 2013 2:28pm Dec 19, 2013 2:28pm
selling on audusd aggressive C

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  • #6,398
  • Dec 19, 2013 2:29pm Dec 19, 2013 2:29pm
Quoting Forexbuster
{quote} i like the price e to break the 38% in order to go up {image}
Price is stuck in a descending triangle at the moment. I'm inclined to think the USD has more to go (but was not convinced enough to maintain the short!)
  • #6,399
  • Dec 19, 2013 6:29pm Dec 19, 2013 6:29pm
Quoting itinerant
{quote} Price is stuck in a descending triangle at the moment. I'm inclined to think the USD has more to go (but was not convinced enough to maintain the short!)
And down she goes... maybe I should have been more convinced!
  • #6,400
  • Dec 19, 2013 6:42pm Dec 19, 2013 6:42pm
Potential EJ BAt pattern on the H1, entered the C aggressive on failing to close above 61.8

But cant figure how to set stop loss and take profit on Ninja Trader, tried for the last few days online and youtube but still, I see that in the Dom window there's no Forex instruments to choose from
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