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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

  • #8,061
  • Feb 6, 2014 7:24am Feb 6, 2014 7:24am
Quoting kumaramy
{quote} This base can create problem for me. {image}
One more base in established to protect my trade
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpym1.png Size: 30 KB
-milkeyway
  • #8,062
  • Feb 6, 2014 7:27am Feb 6, 2014 7:27am
SL moved to BE due to price at previous base.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusdm5.png Size: 25 KB
-milkeyway
  • #8,063
  • Feb 6, 2014 7:37am Feb 6, 2014 7:37am
Quoting kumaramy
SL moved to BE due to price at previous base. {image}
this is why sl moved to BE. THE PREVIOUS BASE.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusdm5.png Size: 19 KB
-milkeyway
  • #8,064
  • Feb 6, 2014 7:38am Feb 6, 2014 7:38am
Quoting kumaramy
{quote} this is why sl moved to BE. THE PREVIOUS BASE. {image}
High impact news again (actually, 3 high impact news events all together)
  • #8,065
  • Feb 6, 2014 7:49am Feb 6, 2014 7:49am
Quoting itinerant
{quote} High impact news again (actually, 3 high impact news events all together)
Yes. This is why I am avoiding to enter those pairs who have high impact news during my trading time.
-milkeyway
  • #8,066
  • Feb 6, 2014 7:50am Feb 6, 2014 7:50am
SL moved to BE. risk free.
Attached Image (click to enlarge)
Click to Enlarge Name: audnzdm1.png Size: 28 KB
-milkeyway
  • #8,067
  • Feb 6, 2014 9:07am Feb 6, 2014 9:07am
Quoting kumaramy
SL moved to BE. risk free. {image}
Out of BE.
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-milkeyway
  • #8,068
  • Feb 6, 2014 9:08am Feb 6, 2014 9:08am
Quoting kumaramy
{quote} One more base in established to protect my trade {image}
uPDATE.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpym1.png Size: 24 KB
-milkeyway
  • #8,069
  • Feb 6, 2014 9:36am Feb 6, 2014 9:36am
Quoting kumaramy
{quote} uPDATE. {image}
Closed with +103
-milkeyway
  • #8,070
  • Feb 6, 2014 11:14am Feb 6, 2014 11:14am
shorted GJ
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpym1.png Size: 26 KB
-milkeyway
  • #8,071
  • Feb 6, 2014 11:39am Feb 6, 2014 11:39am
Please don't take this the wrong way, but a blank chart with an open order on it does little to stimulate discussion.

Why don't you take us through your logic on these trades... why you opened where you did, why you put your SL where you did, what are your targets?

Otherwise you might as well just link your MT4 account to the FF trade explorer
  • #8,072
  • Feb 6, 2014 12:38pm Feb 6, 2014 12:38pm
Quoting itinerant
Please don't take this the wrong way, but a blank chart with an open order on it does little to stimulate discussion. Why don't you take us through your logic on these trades... why you opened where you did, why you put your SL where you did, what are your targets? Otherwise you might as well just link your MT4 account to the FF trade explorer
I saw weakness to upside around double top. The double top is @127% fib level and price hold consistently at resistance.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: gbpjpym15.png Size: 34 KB
-milkeyway
  • #8,073
  • Feb 6, 2014 12:46pm Feb 6, 2014 12:46pm
Quoting IenDzi
{quote} This is not clear for me. It's hard to see where it is weakness and strength in this situation, but I see higher lows, I would think to buy it. Why are you selling it?
strength and weakness, watch the slope of the impulse and compare it with the next.
In turn compare the slope of the pulse, with the slope of the regression.
The sequence I use is strong, strong, weak, boom up or down.
This example is STRONG STRONG, WEAK = PUM. DOWN
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  • #8,074
  • Feb 6, 2014 12:46pm Feb 6, 2014 12:46pm
Considering weak pullback of meganta I shorted AJ. Now, I am looking at yellow decreasing momentum to the upside is in my favor. I am only afraid of white horizontal base. They should be broken to get in profit.
Attached Image (click to enlarge)
Click to Enlarge Name: audjpym1.png Size: 35 KB
-milkeyway
  • #8,075
  • Feb 6, 2014 1:00pm Feb 6, 2014 1:00pm
Quoting itinerant
And here is another point for discussion. My belief: trading into high impact news on a short TF is gambling. Why? The market moves because people are making decisions to buy and sell. It is that simple. Lots of people are going to look at the news, and make decisions based upon it. So unless you know the news in advance, you don't know which way the short term order flow is going to go. Textbook example: A beautiful setup of a breakout-pullback entry. This trade went gloriously into profit as predicted. Apart from the unpleasant spike in the middle...
This is how you say, a good analysis is invalidated by the news, best be off the market.
Thanks again for your input and knowledge.
regards
  • #8,076
  • Feb 6, 2014 1:01pm Feb 6, 2014 1:01pm
Quoting kumaramy
Considering weak pullback of meganta I shorted AJ. Now, I am looking at yellow decreasing momentum to the upside is in my favor. I am only afraid of white horizontal base. They should be broken to get in profit. {image}
established a good confluence.
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Click to Enlarge Name: audjpym5.png Size: 38 KB
-milkeyway
  • #8,077
  • Feb 6, 2014 1:08pm Feb 6, 2014 1:08pm
I think in my opinion the key to success on forex is to have a risk ratio of 1:2 or 1:3
small loss big winners even if you have 54% of winning and harmonics has a good risk ratio:nerd:
I see some strategy or system they got 70 to 89% winning but the risk ratio is 4:1 big loss and small winners
  • #8,078
  • Feb 6, 2014 1:21pm Feb 6, 2014 1:21pm
One part, only part of what I have learned from Mr Pip.
On strength and weakness.
In one example of Kumaramy.
Greetings, and continue until the teacher returns.
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  • #8,079
  • Feb 6, 2014 1:24pm Feb 6, 2014 1:24pm
Quoting Forexbuster
I think in my opinion the key to success on forex is to have a risk ratio of 1:2 or 1:3 small loss big winners even if you have 54% of winning and harmonics has a good risk ratio:nerd: I see some strategy or system they got 70 to 89% winning but the risk ratio is 4:1 big loss and small winners
the utmost key is consistency. if you can average 10 pips a day you can easily be wealthy
  • #8,080
  • Feb 6, 2014 1:33pm Feb 6, 2014 1:33pm
Quoting itinerant
And here is another point for discussion. My belief: trading into high impact news on a short TF is gambling. Why? The market moves because people are making decisions to buy and sell. It is that simple. Lots of people are going to look at the news, and make decisions based upon it. So unless you know the news in advance, you don't know which way the short term order flow is going to go. Textbook example: A beautiful setup of a breakout-pullback entry. This trade went gloriously into profit as predicted. Apart from the unpleasant spike in the middle...
if one doesn't have a solid grasp of where price is going then you are gambling. It is my belief that news is just a period of volatility and commonly follows the intentions of the market (structure & orderflow). That being said there is no system that's 100% right there are always exceptions
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