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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

  • #6,701
  • Dec 27, 2013 9:16am Dec 27, 2013 9:16am
Quoting gtudor
{quote} Offf , thanks very much but my software is MT4 . Thanks again !
This is Ninja Trader platform, its free you can use it with Demo Account , in MT4 you cant change Fib color , so Ninja with Fibonacci is much easier and better
I Have Learned to Take Some Losses to Make Profits
  • #6,702
  • Dec 27, 2013 9:19am Dec 27, 2013 9:19am
Quoting TheScorpS
{quote} This is Ninja Trader platform, its free you can use it with Demo Account , in MT4 you cant change Fib color , so Ninja with Fibonacci is much easier and better
Once I downloaded ninja but it asked for licence. How to use demo Ninja ?
-milkeyway
  • #6,703
  • Dec 27, 2013 9:39am Dec 27, 2013 9:39am
Hello Guys, My photo on my profile.
-milkeyway
  • #6,704
  • Dec 27, 2013 10:23am Dec 27, 2013 10:23am
Some euro action this morning. First entry fell short of my support so I noted it and waited for the failure. Took 10 on the ride down. Bullish strength on the first push up made me a little more aggressive on the bearish doji @ support. Took 10 on the upswing waiting for a nsh or failure @ R. The 4th circle provided a second retest of R on a second weak leg up indicating the bears weren't done (this and the lack of bullish momentum compared to the bearish made me take a short down to 3790 for 14. Done for the day.

I super highly recommend the YTC materials suggested a few pages back. They are like a textbook for this thread . Good trading all. Cheers.
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Finally out of the shadows.
  • #6,705
  • Dec 27, 2013 11:34am Dec 27, 2013 11:34am
Quoting kumaramy
{quote} Once I downloaded ninja but it asked for licence. How to use demo Ninja ?
When you go into the download page http://www.ninjatrader.com/download-registration.php and put un your email, they will send you an email with a valid license key that when installed into Ninja direcly will out the platform into demo mode

Once you have done that and Ninja is working, just go to MBT trading website and open demo account with them, keep the user and pass for later on you will have to connect Ninja trader to your MBT account, since Ninja is just a platform and not a broker company, you will have to open demo account which in this example MBT trading
I Have Learned to Take Some Losses to Make Profits
  • #6,706
  • Dec 27, 2013 11:36am Dec 27, 2013 11:36am
Quoting itinerant
Well, it has almost been a year since I first saw this thread appear in the forums. At that point, I would probably be best described as a break-even trader who sporadically returned to dedicate some time to forex, and in doing so I jumped from one system to the next . The balance sheet for the preceding 3 years showed that forex owed me nothing (except a rather large investment of time) but neither had it given me anything in return... not a particularly appealing result, but I'm well aware it could have been far worse! The combination of Mr. Pip's...
Quoting horuxito
{quote} Hey you are talking my language! I read your previous post and it was my story! It's so great man. I too was one of those who came here last year and commit with the thread and then took a pause just to realize this was my home!
Lol, yeah this sounds like me too.

Have done trading before and always lost as I just found I kept going until I basically lost it all as I continued to push for the millions!! I made £10,000 in about 2 weeks from about £500 invested (needless to say there was no money management going on there!!). Then preceded to lose it in about 2-3 days!!

I then gave it a break for a while, peering in every so often. Then I hit this thread in July, read it and the Harmonics book, then got taken over with the day job. Then lost my job in November so started working on a few things and this was included. I have now invested a bit of money and going to see if I can make a bit doing this as I am putting a lot of time into it.

Massive thanks to Mr Pip for his continued time in this thread.

I am now waiting for the new year before I get back into this so the markets settle.

Hope you all had a good Christmas and have a good New Year!!
  • #6,707
  • Dec 27, 2013 11:36am Dec 27, 2013 11:36am
Quoting gaf
Some euro action this morning. First entry fell short of my support so I noted it and waited for the failure. Took 10 on the ride down. Bullish strength on the first push up made me a little more aggressive on the bearish doji @ support. Took 10 on the upswing waiting for a nsh or failure @ R. The 4th circle provided a second retest of R on a second weak leg up indicating the bears weren't done (this and the lack of bullish momentum compared to the bearish made me take a short down to 3790 for 14. Done for the day. I super highly recommend the YTC...
Hi gaf, do you suggest reading all the materials in the eBooks or just specific parts
I Have Learned to Take Some Losses to Make Profits
  • #6,708
  • Dec 27, 2013 11:49am Dec 27, 2013 11:49am
Quoting TheScorpS
{quote} Hi gaf, do you suggest reading all the materials in the eBooks or just specific parts
I read it all and am re-reading it. It addresses most of my questions regarding if there is ever an optimal entry or exit. It doesnt' deal with harmonics but it does deal with orderflow trades which we often use in harmonic zones. How to be comfortable with subjectivity etc. It goes through projection depth momentum to strengthen our understanding. What to expect from yourself. How to practice properly, when to go live. I found it all fantastic. Its not going to make you a trader over night but it gives you a clear cut path on how to become one. Its another layer of comfort when combined with this fantastic thread! Cheers.
Finally out of the shadows.
  • #6,709
  • Dec 27, 2013 11:49am Dec 27, 2013 11:49am
Quoting gaf
Some euro action this morning. First entry fell short of my support so I noted it and waited for the failure. Took 10 on the ride down. Bullish strength on the first push up made me a little more aggressive on the bearish doji @ support. Took 10 on the upswing waiting for a nsh or failure @ R. The 4th circle provided a second retest of R on a second weak leg up indicating the bears weren't done (this and the lack of bullish momentum compared to the bearish made me take a short down to 3790 for 14. Done for the day. I super highly recommend the YTC...
Nice work
I'm still working through the YTC materials but so far I agree they compliment this thread's style very well.
  • #6,710
  • Dec 27, 2013 12:01pm Dec 27, 2013 12:01pm
Quoting PipTrendz
{quote} {quote} Lol, yeah this sounds like me too. Have done trading before and always lost as I just found I kept going until I basically lost it all as I continued to push for the millions!! I made £10,000 in about 2 weeks from about £500 invested (needless to say there was no money management going on there!!). Then preceded to lose it in about 2-3 days!! I then gave it a break for a while, peering in every so often. Then I hit this thread in July, read it and the Harmonics book, then got taken over with the day job. Then lost my job in November...
I'm sorry to hear you lost your job. I hope that you have a very prosperous and successful 2014!
  • #6,711
  • Dec 27, 2013 12:19pm Dec 27, 2013 12:19pm
What a day, like any other in the whole year!

I had 2 consecutive losses in the EURUSD. The first was taken after an ABCD completion. I didn't noticed the strong momentum and projection of orderflow and that costed dearly. My little soldier died in battle very soon. Thanks to the rules I was taken out fast and didn't suffer beyond unreasonable.

After that trade I started to project some fibo extensions to pinpoint areas of exhaustion. There were some nice levels around 1.3820. I planed to average my position from there up to 1.3850 if price reached that high. My stop would be at 1.3870 for the whole trade. The result is we had a stupid crazy rally driven by institutions trying to make their books look nice. I can't imagine the number of stop losses that were hit from 1.38 to 1.3890. I was taken out just 20 pips before price finally decided to come down. Actually it has come down 120 pips as we speak.

The second trade would had worked under any normal conditions. I feel good that I'm still alive becuase I had money management in place and a specific level to be taken out.

I kept in touch with some friends and they had a nightmare, nothing compared to what I just said. Imagine people holding positions from weeks and weeks of being there just to be taken out. One of these friends lost $50K. I even got awared of the case of a guy who pricesily yesterday initiated his live account after 12 months demoing. $10K to the trash. I wonder, what's the purpose of demo trading if you didn't build any set of rules? I guess it also must be frustrating to hold positions for so many weeks and lost it all in one stupid session. That's the reason why I personally don't trade big timeframes. If I am going to lose let that be quick, the same if I win. But that is only my personal style.

Well, I wanted to share this experience. I want to thank everybody here. Keep going. If you have a solid set of rules you will keep alive even after these chaotic events!

Regards and good trading
Best time to plant a tree was 20 years ago, second best is now
  • #6,712
  • Dec 27, 2013 1:24pm Dec 27, 2013 1:24pm
Quoting itinerant
Just the one entry today for me, and only for 13 pips. But a good opportunity to put into practice some Christmas reading Whether through chance or otherwise, price did exactly what my bias expected once I actually sat down and did a bar-by-bar analysis for the entry... thus confirming it is time I gave more commitment to this aspect of my trading. The hardest thing was waiting 21 bars for the entry {image}
Another great decision and an even better walk through.

Loving these as it gives me a great incite into how other people are working, keep them coming!!
  • #6,713
  • Dec 27, 2013 1:30pm Dec 27, 2013 1:30pm
Quoting TheScorpS
AUD/USD H1 momentum to the upside, with strong projection, expectation for price to make a shallow pullback before resuming the momentum upside, green arrow line is where I expect price to pullback too before looking for long again resuming the short term order flow bullish {image}
The Scorps: How could I know that the P does not bounce in 61 or 78%, and would continue towards 100%?
Anything to avoid reaching my SL?
thanks
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  • #6,714
  • Dec 27, 2013 1:52pm Dec 27, 2013 1:52pm
Quoting horuxito
What a day, like any other in the whole year! I had 2 consecutive losses in the EURUSD. The first was taken after an ABCD completion. I didn't noticed the strong momentum and projection of orderflow and that costed dearly. My little soldier died in battle very soon. Thanks to the Regards and good trading
Keep at it horuxito! You're doing well. My losing trades are almost always D reversals with fib confluence but no structure or big S/R. I now refuse to take D trades unless I have structural arguments or strong S/R. You are usually against orderflow unless in a correction so its an aggressive proposition especially if the projection is great off the previous leg.

Sad for your friends. I see no reason to not be short term long with this market on the daily. look at the projection and clear 2 leg rejection with a doji off support. You have a longer term agro C going on so holding a short past 3617 is fighting the current trend. Taking a scalp off the correction and support is cool but you also have to realize where the bulls may want to take this market. Look at the increase in momentum for the attack of R. There are orderflow warning signs everywhere that this R would get attacked again and may not hold. Besides if you were looking for a short who would you want to be trapped before you took it down .
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Finally out of the shadows.
  • #6,715
  • Dec 27, 2013 2:06pm Dec 27, 2013 2:06pm
Quoting gaf
{quote} Keep at it horuxito! You're doing well. My losing trades are almost always D reversals with fib confluence but no structure or big S/R. I now refuse to take D trades unless I have structural arguments or strong S/R. You are usually against orderflow unless in a correction so its an aggressive proposition especially if the projection is great off the previous leg. Sad for your friends. I see no reason to not be short term long with this market on the daily. look at the projection and clear 2 leg rejection with a doji off support. You have...
Hey John, thank you for your words.

The big perspective looks really nice. All you can see is price going up and the last C holding nicely. Maybe the people who suffered where those who believed 1.38 was going to hold, but probably we will see price reaching 1.42 before the market becomes bearish. I guess sometimes is good to remember what the big boys are doing.
Best time to plant a tree was 20 years ago, second best is now
  • #6,716
  • Dec 27, 2013 2:29pm Dec 27, 2013 2:29pm
How is this for exhaustion points! No harmonics just market exhaustion points. I will let you study them then post questions. All show ratio confluence from main swings.
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If you fail to plan, you plan to fail.
  • #6,717
  • Dec 27, 2013 2:42pm Dec 27, 2013 2:42pm
Here is another video covering exhaustion points and harmonic for market turning points. Post comments or concerns.


http://www.youtube.com/watch?v=JsNIrS8rUWE&feature=player_detailpage
If you fail to plan, you plan to fail.
  • #6,718
  • Dec 27, 2013 2:48pm Dec 27, 2013 2:48pm
Quoting Mr. Pip
How is this for exhaustion points! No harmonics just market exhaustion points. I will let you study them then post questions. All show ratio confluence from main swings. {image}
Simply amazing Damian. I was feeling a little lost in these exhaustion arena that I love so much. I reproduced the chart to see if I was able to accomplish the same result. Basically you take a predefined top, in this case 1.3810 that was given since many days ago, and then selected relevant bases, the first of Dec 3 and the second from Dec 20. Very nice, this is how it has to be done! Is like if we had the prediction of where price could go!!! The top and the 2 bases are given by the yellow horizontal lines.

I will watch the video now. Thank you so much!

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Best time to plant a tree was 20 years ago, second best is now
  • #6,719
  • Dec 27, 2013 3:03pm Dec 27, 2013 3:03pm
HI Guys how about this for ABCD completion is this going to be treated as exhaustion
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  • #6,720
  • Dec 27, 2013 3:16pm Dec 27, 2013 3:16pm
Mr. Pip,
These are exactly the areas that I find most troubling and hard to figure out. As you see in the main retracement it comes to the 38.1-50-68.1 level. After reaching the 61.8 level it makes a higher high and follows with a lower low. It then follows that with a lower high and price action looks to be playing out. 2 bearing candles follow, allowed the second is somewhat weak and then bang......the rug is drug out from under you. You are thinking the bulls are at best going to keep it somewhat in the area and it doesn't happen. This seems to be an ongoing affair with me. I have used confluence, pattern exhaustion, fibs, the kitchen sink.....lol and everything in between but cannot see these things coming and they always get me...... Your expertise and valuable input along with the way you see things playing out would be greatly appreciated. I also look at momentum going into these areas and it seems almost stable or equal for not a better term. Was this a tradable setup you saw? If you could walk us thru this setup as far as seeing how price was going to react it would be worth the world but I would never ask of your time in such because I know you are a busy man and already more giving beyond words. Just your input would be golden. Thanks, Paul
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