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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

  • #15,921
  • Feb 4, 2016 3:58am Feb 4, 2016 3:58am
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  • #15,922
  • Feb 4, 2016 4:00am Feb 4, 2016 4:00am
Quoting Mack2013
GBPUSD - 15 min just some practice. If anybody sees any mistake , don't hesitate to correct me {image}
eurusd or dow please
  • #15,923
  • Feb 4, 2016 4:04am Feb 4, 2016 4:04am
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SL moved to BE. price shouldn't come back there.

ok, ended with B:E. done for today. GL to all
  • #15,924
  • Feb 4, 2016 4:35am Feb 4, 2016 4:35am
Seems to me that there is a significant difference in swings and duration of swings between de EuroFuture and the FX
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  • #15,925
  • Feb 4, 2016 5:04am Feb 4, 2016 5:04am
Thanks Mr pip for another nice video,
I have some questions, not sure it's the right time to ask, maybe you will cover these later?

1. Where to put the initial SL? Sometimes at HL & LH, sometimes at a few points below entry? How to decide where? Any rules?

2. When is time to move SL to break even, any rules?

3. Are we only trading setup that is with expectation of NSH or NSL? Never trade the HL and LH expectations?
  • #15,926
  • Feb 4, 2016 5:39am Feb 4, 2016 5:39am
Good Morning Traders

Eur 15 min

Price continues to put in NSH.

On the short term it did put in a weak NSL, and then continues its path to NSH.

Expectation is for another HL, followed by NSH.
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  • #15,927
  • Feb 4, 2016 5:41am Feb 4, 2016 5:41am
Hi guys,

Here's my EU chart. Let's see what happens today.

Possible long trade when it bounces off previous NSH.
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  • #15,928
  • Feb 4, 2016 5:52am Feb 4, 2016 5:52am
Interesting to watch \233T EuroFX , will minor level change our expecation or do we wait for the major level to break and call it then a structure break
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  • #15,929
  • Feb 4, 2016 6:47am Feb 4, 2016 6:47am
Quoting Timwelch
Another fantastic video, Mr Pip! Just a quick note on trade management. I know we aren't there yet, but you mentioned at around 9:30 into the video that your trade management would have kept you in the trade, while still being at or near a break even. Mine would have too. :-) ... Oh, and I have a script that does trade placement for me. So I just hit a hotkey in my MetaTrader and it places the order. You also mentioned to make it as mechanical as possible, to keep the emotions out of it. I agree 100% percent! EDIT: I just finished watching the video...
Glad you enjoyed the video Tim, trade management can be a very emotional process but it doesn't have to be completely emotional. NinjaTrader's ATM lets you build an automated trade management process too. It is fantastic even though I don't use it to it's full capability. I trail manually as this helps he deal and constantly fight the emotional process. The more I confront that demon the easier it gets to follow your rules.
If you fail to plan, you plan to fail.
  • #15,930
  • Feb 4, 2016 6:48am Feb 4, 2016 6:48am
Hi Damian,you r doing a fantastic work!

I saw your last video (Trading Structure Analysis) and at the beginning (~3.05 min)you said that ''we have to recognize that in this particular area ... we have an area of supply''.BUt from the other side of the blue box, couldn't we have said that the bulls have been able to overpower the bears so we have an area of support..??
..so my question is what exactly did you see and you said at the beginning, that ''our expectation is not a NSH but we are looking to short the market.Why you focused on the resistance aspect of the channel (you said that the market is moving sideways ~2.45min) and not on the support.?
learn more , earn more
  • #15,931
  • Feb 4, 2016 6:49am Feb 4, 2016 6:49am
Quoting paren
Guys. Is it correct expectation? NSL ? {image}
No, You have a complex correction there. It would have to break below the main swing you are correcting from.
If you fail to plan, you plan to fail.
  • #15,932
  • Feb 4, 2016 6:51am Feb 4, 2016 6:51am
Quoting Mack2013
{quote} as per what I understand.... I could be wrong tho. maybe a second opinion would help. {image}
Wicks are not important in structure analysis. We look at the close but in this particular case it is a complex correction.
If you fail to plan, you plan to fail.
  • #15,933
  • Feb 4, 2016 6:52am Feb 4, 2016 6:52am
Quoting Mack2013
GBPUSD - 15 min just some practice. If anybody sees any mistake , don't hesitate to correct me {image}
If you fail to plan, you plan to fail.
  • #15,934
  • Feb 4, 2016 6:59am Feb 4, 2016 6:59am
Quoting mci
{quote} Personally I would say it is still a HL in the long term, because price closed very near the previous HL, so it's kind of ranging and it tested the level for a very short time. I am referring here to not over-identify the structures to keep a normal level of sanity. Would be glad to also hear some other opinions in this particular case. Are you very rigid with your HLs and LHs identifications?
Let me give you all a visual of what I mean.
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If you fail to plan, you plan to fail.
  • #15,935
  • Feb 4, 2016 7:04am Feb 4, 2016 7:04am
Quoting c49
Seems to me that there is a significant difference in swings and duration of swings between de EuroFuture and the FX {image}
The difference should be small. FX brokers filter and manipulate the price data, they are crooks.
If you fail to plan, you plan to fail.
  • #15,936
  • Feb 4, 2016 7:09am Feb 4, 2016 7:09am
Quoting c49
Seems to me that there is a significant difference in swings and duration of swings between de EuroFuture and the FX {image}
The swings are identical on the 15M chart. You might see a difference on a tick chart because of the different data feeds although on my charts they look the same. Either way you have to read/trade the chart that's in front of you.
Barry
  • #15,937
  • Feb 4, 2016 7:12am Feb 4, 2016 7:12am
Quoting Mr. Pip
{quote} The difference should be small. FX brokers filter and manipulate the price data, they are crooks.
hehe. they are greedy bastards not being satisfied with their fat commissions but in addition need to put their dirty hands in traders pockets. I'm so happy I switched to futures. Although there is one problem for those who don't have enough capital; you can't trade less than a contract (almost equivalent to a lot).
  • #15,938
  • Feb 4, 2016 7:12am Feb 4, 2016 7:12am
Quoting lithium1
Thanks Mr pip for another nice video, I have some questions, not sure it's the right time to ask, maybe you will cover these later? 1. Where to put the initial SL? Sometimes at HL & LH, sometimes at a few points below entry? How to decide where? Any rules? 2. When is time to move SL to break even, any rules? 3. Are we only trading setup that is with expectation of NSH or NSL? Never trade the HL and LH expectations?
These are all excellent questions however lets wait till we get there to dive into it with detail so we don't fall off topic. I will however help with a broad answer to give you some guidance.

Quote
1. Where to put the initial SL? Sometimes at HL & LH, sometimes at a few points below entry? How to decide where? Any rules?

Stop goes where you know you are wrong. By know you should have a pretty good idea where price could go and where it shouldn't go.

Quote
When is time to move SL to break even, any rules?

It is always a good idea to remove risk at a test of structure.

Quote
3. Are we only trading setup that is with expectation of NSH or NSL? Never trade the HL and LH expectations?

I'm not saying that just understand that LH and HL are corrections and have higher risk also less profit potential. The next lesson on order flow will help you understand when you might want to consider taking one of these entries.
If you fail to plan, you plan to fail.
  • #15,939
  • Feb 4, 2016 7:14am Feb 4, 2016 7:14am
Quoting tibovwh
Hi guys, Here's my EU chart. Let's see what happens today. Possible long trade when it bounces off previous NSH. {image}
Very well done!!!!
If you fail to plan, you plan to fail.
  • #15,940
  • Feb 4, 2016 7:18am Feb 4, 2016 7:18am
Quoting Mr. Pip
{quote} Let me give you all a visual of what I mean. {image}
GM Mr Pip.
Thanks for another great video. Your time is appreciated! It certainly shows how this structure analysis can work.
I to have trouble with trade management but am working on that and look forward to that portion of the training.
I also have noticed some traders having a little trouble with those complex corrections. I had pointed some out in a previous post. As you have said those small swings don't change our expectation but can give us a hint to the probability of failure.
Barry
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