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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

  • #11,721
  • Jan 11, 2015 7:32pm Jan 11, 2015 7:32pm
Quoting Mr. Pip
{quote} {quote} Thank you and fantastic video you posted! I use Ninja Trader it's a free download and you can pay for data or set something up with the partnering brokers. I use FXCM and have a direct feed they are my broker as well so I am able to execute my trades right on Ninja Trader. {quote} As I have mentioned in the past and perhaps in the video, News as far as I am concerned is nothing more than a period of volatility. I got out of the trade because of the price action and not the news. News spikes can affect your position but you never...
Ah that's the well talked about Ninja platform, it looks to be all as promised, thanks. Yer slippage is the dragon that has turned past trades to ash before, if I could control it it would be an added bonus because normally imo TA tends to reinforce a lot of news releases. Most news I'm not too worried about and will stay in trades but just the NFP and a couple other main news items.

I have being studying the pattern setups and looking for examples. I am currently looking at the NU 1hr. If the dominant pullback (B) closes above the 78.6% (of X-A) is it a valid pattern setup? There seems to be an area of confluence at the 127.2 extension (of X-A, D?) especially in the history with PA halting in this zone regularly.
Hopefully my chart isn't too cluttered and can be understood.
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As the lights go by so too do the shadows move
  • #11,722
  • Jan 11, 2015 8:26pm Jan 11, 2015 8:26pm
Damian,

Thanks for taking the time to record your live trading session. For me it was a motivational video because it inspires me to continue trading and reminds me that it can be done!
You show that with some time, effort and patience reading PA can be easy.

It also confirms how sincere you are in wanting us all to learn how to be successful traders. We are very fortunate to have someone give so much and ask nothing in return. For that I say a million thanks!!
--
Barry
Barry
  • #11,723
  • Jan 11, 2015 10:15pm Jan 11, 2015 10:15pm
Quoting Matts Micro
{quote} Ah that's the well talked about Ninja platform, it looks to be all as promised, thanks. Yer slippage is the dragon that has turned past trades to ash before, if I could control it it would be an added bonus because normally imo TA tends to reinforce a lot of news releases. Most news I'm not too worried about and will stay in trades but just the NFP and a couple other main news items. I have being studying the pattern setups and looking for examples. I am currently looking at the NU 1hr. If the dominant pullback (B) closes above the 78.6%...
I also just measured the AB line (copy pasted) and starting from C it hits right in the confluence zone of D as well. If anyone sees any mistakes I am making here please correct, thanks
As the lights go by so too do the shadows move
  • #11,724
  • Jan 12, 2015 1:10am Jan 12, 2015 1:10am
Quoting Matts Micro
{quote} I also just measured the AB line (copy pasted) and starting from C it hits right in the confluence zone of D as well. If anyone sees any mistakes I am making here please correct, thanks
Traded the double top and the break of the hrly rising TL instead (yer still a BO trader hehe).
As the lights go by so too do the shadows move
  • #11,725
  • Jan 12, 2015 1:11am Jan 12, 2015 1:11am
Quoting Mr. Pip
{quote} Be careful if you plan to take a C to D the Bears look like they mean business. Increase in momentum and much deeper depth than expected. other then that looks okay. Aggressive trade management if considering longs!
Tq Mr.Pip,

yes agree,I'm prefer to waiting D zone or buy at low ([email protected] )
  • #11,726
  • Edited 4:33am Jan 12, 2015 3:57am | Edited 4:33am
Just entered long on the GBPUSD 144T upon failure of price to break structure and form NSLs. My short term expectation would be a retrace to the next structure up in confluence with the 38.2 retracement of the impulsive swing. This is a risky trade as I am against strong bearish momentum so I'll be managing this trade aggressively. Currently risking 14 pips for 27. Will see how it goes.

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Update 1: Reduced risk to 7 pips upon break of structure.

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Update 2: Reduced risk further to 4 pips. Used M1 chart for clearer PA. Expectation is still for more short term HLs and HHs.

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Update 3: Now at BE upon formation of a weak NSH...

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  • #11,727
  • Jan 12, 2015 4:46am Jan 12, 2015 4:46am
Goodmorning everybody,

My progress so far. Wrote everything on the chart, hope it is clear like this
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  • #11,728
  • Jan 12, 2015 4:49am Jan 12, 2015 4:49am
My first post here , have read half of the thread.
Basically the ABCD and AB=CD (or symmetrie) , combined with priceaction is all you have to master as daytrader.
It took me a long while to find out and after winning and losing a lot , the first eyeopener was Sam Seiden and afterwards others came .
Complicated patterns are nice when you master them , but absolutely not neccesary to become a profitable Daytrader.
I took 2 trades on the French stock index CAC40 ( 89 ticks) , both profitable
The last trade I will post and took profit way too early because the close of the B wave was just at or below the 78.6 retracement and therefore I took profit at the bottom of the tweezer bottom , so the rule tricked me , but anyway it was a profit and I followed the rule.
I hope everything was according the rules of Mr Pip and as English is not my native language I apologize for any mis spelling of words.
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  • #11,729
  • Jan 12, 2015 4:56am Jan 12, 2015 4:56am
Quoting YoungCroc
Just entered long on the GBPUSD 144T upon failure of price to break structure and form NSLs. My short term expectation would be a retrace to the next structure up in confluence with the 38.2 retracement of the impulsive swing. This is a risky trade as I am against strong bearish momentum so I'll be managing this trade aggressively. Currently risking 14 pips for 27. Will see how it goes. {image} {image} Update 1: Reduced risk to 7 pips upon break of structure. {image} Update 2: Reduced risk further to 4 pips. Used M1 chart for clearer PA. Expectation...
Exited for +4. The strong bearish rotation at the ellipse smelled like trouble.
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  • #11,730
  • Jan 12, 2015 5:08am Jan 12, 2015 5:08am
Quoting YoungCroc
{quote} Exited for +4. The strong bearish rotation at the ellipse smelled like trouble. {image}
Nice managment. Not using Ninjatrader to manage your trades anymore?
  • #11,731
  • Jan 12, 2015 5:23am Jan 12, 2015 5:23am
Quoting Mr. Pip
Here is the video of today's session. I hope you find it valuable to your growth. As always please provide feedback and questions.
Thank You for the video. It looks very simple
  • #11,732
  • Jan 12, 2015 5:27am Jan 12, 2015 5:27am
Quoting DeepakJ
{quote} Nice managment. Not using Ninjatrader to manage your trades anymore?
I'm still using NinjaTrader for trade management but since I execute my live trades on MetaTrader, I've chosen to take screenshots from there. It's just more of a laziness thing. I did have a Ninja screenshot on my very first image though.

GU is still continuing its retrace. Could've had much bigger gains if I didn't exit on upon rotation and just let my stop remain on BE. Well whatever. What matters is that I followed my plan and analysis. I will be looking for short opportunities once price rotates on the next structure.
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  • #11,733
  • Edited 6:10am Jan 12, 2015 5:39am | Edited 6:10am
Quoting YoungCroc
{quote} I'm still using NinjaTrader for trade management but since I execute my live trades on MetaTrader, I've chosen to take screenshots from there. It's just more of a laziness thing. I did have a Ninja screenshot on my very first image though. GU is still continuing its retrace. Could've had much bigger gains if I didn't exit on upon rotation and just let my stop remain on BE. Well whatever. What matters is that I followed my plan and analysis. I will be looking for short opportunities once price rotates on the next structure. {image}
Yer had the same trade but was covering all the way as I am watching the C&H pullback on 5m, sorry for being a bit off subject on this thread but was also looking for the retrace that didn't seem to come.

fffs it just moved, was expecting the BO down... (was reading UJ for direction).
As the lights go by so too do the shadows move
  • #11,734
  • Jan 12, 2015 6:04am Jan 12, 2015 6:04am
Quoting Matts Micro
{quote} I am currently looking at the NU 1hr. If the dominant pullback (B) closes above the 78.6% (of X-A) is it a valid pattern setup? There seems to be an area of confluence at the 127.2 extension (of X-A, D?) especially in the history with PA halting in this zone regularly. Hopefully my chart isn't too cluttered and can be understood. {image}
I missed a vital piece of information in my analysis of this trade in that the PA hit the top of a daily falling wedge (wondered why it wouldn't go any further up when all other pairs were making new highs/lows). On the high of the posted chart there would of been a high level confluence, a good place to enter and I would of stayed in the trade longer.... ah well, all in hindsight

Just checking, is my pattern correct?
Attached Image (click to enlarge)
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As the lights go by so too do the shadows move
  • #11,735
  • Jan 12, 2015 6:36am Jan 12, 2015 6:36am
Quoting YoungCroc
{quote} I'm still using NinjaTrader for trade management but since I execute my live trades on MetaTrader, I've chosen to take screenshots from there. It's just more of a laziness thing. I did have a Ninja screenshot on my very first image though. GU is still continuing its retrace. Could've had much bigger gains if I didn't exit on upon rotation and just let my stop remain on BE. Well whatever. What matters is that I followed my plan and analysis. I will be looking for short opportunities once price rotates on the next structure. {image}
There was rotation on the GU in the golden zone. "An invitation to sell" as per Mr. Pip's words. Didn't take the trade as I already got myself into another mess in the EU and I wouldn't risk exposing more than one currency pair.
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  • #11,736
  • Edited 7:11am Jan 12, 2015 6:43am | Edited 7:11am
Here was the "mess" I was referring to. I am currently short on the EU. Entered upon price rejection in structure around the 50 fib retracement. I am with order flow so I am giving more room for this trade. Risking 14 pips for 29 at the end of a 1-1 projected completion.

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Update 1: Moved stop to BE.

Update 2: Stopped out for 0 pips.
  • #11,737
  • Jan 12, 2015 6:49am Jan 12, 2015 6:49am
Quoting YoungCroc
{quote} There was rotation on the GU in the golden zone. "An invitation to sell" as per Mr. Pip's words. Didn't take the trade as I already got myself into another mess in the EU and I wouldn't risk exposing more than one currency pair. {image}
Not sure exactly what formation I am searching for but am just after a st target and saw the rejection off the 50% Fib. Will cover shortly though.
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As the lights go by so too do the shadows move
  • #11,738
  • Jan 12, 2015 6:52am Jan 12, 2015 6:52am
Quoting Matts Micro
{quote} I missed a vital piece of information in my analysis of this trade in that the PA hit the top of a daily falling wedge (wondered why it wouldn't go any further up when all other pairs were making new highs/lows). On the high of the posted chart there would of been a high level confluence, a good place to enter and I would of stayed in the trade longer.... ah well, all in hindsight Just checking, is my pattern correct? {image}
Heya. I think that your pattern doesn't fit any of Mr. Pip's qualifications. Your AB has closed above the 78.6 of XA, which filters out everything except for a possible butterfly, and I think your CD leg is too short for a butterfly.
  • #11,739
  • Jan 12, 2015 6:58am Jan 12, 2015 6:58am
Good Morning Traders, How's the battle field? I see you all have been busy! I am very proud and pleased to see that my efforts are starting to pay off. I see you guys starting to process things correctly and the video's have helped a lot. First trade of the day
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If you fail to plan, you plan to fail.
  • #11,740
  • Jan 12, 2015 7:01am Jan 12, 2015 7:01am
Quoting YoungCroc
{quote} Heya. I think that your pattern doesn't fit any of Mr. Pip's qualifications. Your AB has closed above the 78.6 of XA, which filters out everything except for a possible butterfly, and I think your CD leg is too short for a butterfly.
Hey. Yer it looks a messed up but perhaps the AB (or BC) leg hasn't finished yet cos it doesn't look like a CD move. It's a bit confusing with two Fibo's on the chart but we'll see where the PA takes us anyway.
As the lights go by so too do the shadows move
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