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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

  • #8,081
  • Feb 6, 2014 1:45pm Feb 6, 2014 1:45pm
Quoting FineForex
{quote} the utmost key is consistency. if you can average 10 pips a day you can easily be wealthy
what is your sl? if you only taking 10 pips?
  • #8,082
  • Feb 6, 2014 2:15pm Feb 6, 2014 2:15pm
Quoting Forexbuster
{quote} what is your sl? if you only taking 10 pips?
I don't go for 10 pips and get out and stop for the day, that's foolish. I go for as many as possible lol.

Average 10 including all wins and losses. as far as stops are concerned I just get out at market when I believe I am wrong I have no set stop losses.

I have a whole journal of my trades "Fine4x Trade Journal" check it out. anyone here can post on it
  • #8,083
  • Feb 6, 2014 2:21pm Feb 6, 2014 2:21pm
Quoting FineForex
{quote} I don't go for 10 pips and get out and stop for the day, that's foolish. I go for as many as possible lol. Average 10 including all wins and losses. as far as stops are concerned I just get out at market when I believe I am wrong I have no set stop losses. I have a whole journal of my trades "Fine4x Trade Journal" check it out. anyone here can post on it
thats dangerous if you got no set stops what if the market move fast you got time to stop it just like what happen this morning on eurusd
  • #8,084
  • Edited 2:57pm Feb 6, 2014 2:26pm | Edited 2:57pm
Quoting Forexbuster
{quote} thats dangerous if you got no set stops what if the market move fast you got time to stop it just like what happen this morning on eurusd
this morning I was long gbpusd and short eurusd when news came out. the euro did not make a definitive move until 1-3 minutes after news. I maintained both positions because news usually goes in my favor. euro I ended up losing pips (18) and I got out when I knew I was for sure wrong I had plenty of chances. the pips I made being long gbp (18) made up for those lost pips which was nice and still got out early.
  • #8,085
  • Feb 6, 2014 2:34pm Feb 6, 2014 2:34pm
Quoting FineForex
{quote} this morning I was long gbpusd and short eurusd when news came out. neither market made a definitive move until 1-3 minutes after news. I maintained both positions because news usually goes in my favor. euro I ended up losing pips (18) and I got out when I knew I was for sure wrong I had plenty of chances. the pips I made being long gbp (18) made up for those lost pips which was nice and still got out early.
heres a chart of the loser
Attached Image (click to enlarge)
Click to Enlarge Name: feb 6 euro explanation.jpg Size: 140 KB
  • #8,086
  • Feb 6, 2014 2:42pm Feb 6, 2014 2:42pm
Quoting FineForex
{quote} heres a chart of the loser {image}
heres a chart of the winner
Attached Image (click to enlarge)
Click to Enlarge Name: feb 6 gbp explanation.jpg Size: 200 KB
  • #8,087
  • Feb 6, 2014 4:51pm Feb 6, 2014 4:51pm
Great to see some discussion on here again!

If I can throw in my 2 cents:
We all have a different levels of risk aversion. For me, I'd never trade without a SL lodged at the broker. It may be an emergency SL which is way beyond what I'll actually let the trade progress to under normal circumstances. But it exists. Sure, I could have a backup internet connection, backup computer, telephone number of the broker. But is it worth the risk of one day losing the account? For me, no.

I also don't believe in using a fixed SL (eg "SL goes 10 pips beyond the last swing")... I set them based on what I'm seeing on the chart. The SL goes just beyond the point where my premise becomes invalid. Why run a trade beyond that point, hoping that some other logic I haven't considered means that it turns around and goes in my favour?

That leads on to my problem with high impact news. None of my SL's can tolerate a short-term spike generated by high impact news. I simply don't give trades that much breathing room. I watch high impact news every day I trade and almost without exception they result in significant spikes on the TF I trade. Sometimes they would have worked with me, other times against me. As I said, I consider that gambling not trading.
  • #8,088
  • Feb 6, 2014 4:53pm Feb 6, 2014 4:53pm
Quoting pampaq
{quote} 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
Just my thoughts, hopefully they are of use to someone
  • #8,089
  • Feb 6, 2014 4:55pm Feb 6, 2014 4:55pm
Quoting FineForex
{quote} 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
I think we agree on the volatility. What it boils down to is does your trade have enough breathing room to tolerate that volatility? I'd rather avoid trading those periods and trade with tighter stops, rather than trade through the news with a wide stop.
I guess it comes down to what works for different people!
  • #8,090
  • Feb 6, 2014 8:26pm Feb 6, 2014 8:26pm
Quoting lobogabor
Any view or comment to animals living on different supply/demand levels? AudUsd after the AU news, pick an animal and the right level, or at least one of those . What do you think? {image}
Oh boy, I really like the site no reaction to most of the things posted!!
Why you guys including myself do not just post on your home file system, would be as effective as this, but of course without a mirror, without the reflection .
Do you need a spoon, or feeding, or ultimately spoon feeding?
I post here to get improvement suggestions, and critique to improve...I do not get it..
What is your purpose of posting here?
Hmm...dunno...results would show.
  • #8,091
  • Feb 7, 2014 1:43am Feb 7, 2014 1:43am
Momentum for bullish side gets weaker, depth gets deeper. For my analysis, price should go down, time will tell this.
Attached Image (click to enlarge)
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  • #8,092
  • Feb 7, 2014 1:44am Feb 7, 2014 1:44am
Quoting FineForex
{quote} 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
I agree with you.
  • #8,093
  • Feb 7, 2014 1:55am Feb 7, 2014 1:55am
Quoting FineForex
{quote} 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
News is a period of volatility and its a very good vehicle for the big boys to dump on the weak players... just something to be aware of, but now we are becoming masters of order flow, then ..............
Never said I was Batman,all I'm saying is you'll never see us together.
  • #8,094
  • Feb 7, 2014 2:31am Feb 7, 2014 2:31am
I think we are all going around in circles about news being a period of volatility... nobody is disagreeing with that, and any number of chart examples will show that.

So perhaps I should rephrase my point: why are stops wide enough to tolerate the volatility of news spikes? Is there an objective reason, or is it subjective choice? Can we define the point where we say "enough is enough, this trade is going against me"? If so, where is it?

I still maintain that on the short time frames (M5, 233 tick) the spikes generated by high impact news are enough to invalid the premise of most setups. If that is the case, what reasoning are we using to hold the trade through that period? The news may have triggered a massive amount of orderflow that overwhelms any small orderflow we were planning on trading.
  • #8,095
  • Feb 7, 2014 2:36am Feb 7, 2014 2:36am
Quoting lobogabor
{quote} Oh boy, I really like the site no reaction to most of the things posted!! Why you guys including myself do not just post on your home file system, would be as effective as this, but of course without a mirror, without the reflection . Do you need a spoon, or feeding, or ultimately spoon feeding? I post here to get improvement suggestions, and critique to improve...I do not get it.. What is your purpose of posting here? Hmm...dunno...results would show.
Looking at your chart example, is your question relating to whether we should trade a pattern completion that coincides with a S/R level?
If so, I would say that is a great example of confluence. But order flow in that area must still show signs of weakness before trading.
  • #8,096
  • Feb 7, 2014 3:17am Feb 7, 2014 3:17am
Quoting IenDzi
Momentum for bullish side gets weaker, depth gets deeper. For my analysis, price should go down, time will tell this. {image}
Hi. Is this news spike ?
Attached Image (click to enlarge)
Click to Enlarge Name: usdjpym5.png Size: 29 KB
-milkeyway
  • #8,097
  • Feb 7, 2014 3:42am Feb 7, 2014 3:42am
Quoting kumaramy
{quote} Hi. Is this news spike ? {image}
What is your broker's time offset?
There were 2 high impact news events affecting that pair yesterday. Both occurred at 13:30 GMT
  • #8,098
  • Feb 7, 2014 3:52am Feb 7, 2014 3:52am
Quoting kumaramy
{quote} Hi. Is this news spike ? {image}
I would say that news spike was downwards, and price began to go up 45 min after news, so I say that it isn't news spike.
  • #8,099
  • Edited 4:43am Feb 7, 2014 4:24am | Edited 4:43am
Quoting itinerant
I think we are all going around in circles about news being a period of volatility... nobody is disagreeing with that, and any number of chart examples will show that. So perhaps I should rephrase my point: why are stops wide enough to tolerate the volatility of news spikes? Is there an objective reason, or is it subjective choice? Can we define the point where we say "enough is enough, this trade is going against me"? If so, where is it? I still maintain that on the short time frames (M5, 233 tick) the spikes generated by high impact news are enough...
good points . for me news events are treated the same way as vol increases, I really need to see where price wants to go and I want to see if its aiming for fib exts , exhausts, reverse order flow, or to smash through levels or whatever. If I do decide to go short at my pre determined entry level and with price confirmation and then it turns to go higher against me I'm out pretty damn quick with a very tight stop because that says to me my order flow analysis was wrong.. I can always re-enter with more rejection, did Mr pip recommend wide stops?
Never said I was Batman,all I'm saying is you'll never see us together.
  • #8,100
  • Feb 7, 2014 4:31am Feb 7, 2014 4:31am
Quoting itinerant
I think we are all going around in circles about news being a period of volatility... nobody is disagreeing with that, and any number of chart examples will show that. So perhaps I should rephrase my point: why are stops wide enough to tolerate the volatility of news spikes? Is there an objective reason, or is it subjective choice? Can we define the point where we say "enough is enough, this trade is going against me"? If so, where is it? I still maintain that on the short time frames (M5, 233 tick) the spikes generated by high impact news are enough...
I totally agree with you
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