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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

  • #18,101
  • Mar 11, 2016 8:05am Mar 11, 2016 8:05am
Quoting rolandW
{quote} It is equivalent, but not exactly the same! You can get indicators for MT4 that are supposed to be tick charts, but I have not looked at them, as they are never in the main window, an dseems to confuse me more than help me!

Thanks Roland and buzznack for your response,

So 233 Tick is less than 5 minutes!!
Hope all these learnings can be applied in higher time frames as well Like H1, H4 and Daily. Please confirm.
Due to day job I believe it might be difficult for me to check lower time frames. Can you please suggest on this.
  • #18,102
  • Mar 11, 2016 8:23am Mar 11, 2016 8:23am
Quoting ramkirshnava
{quote} Thanks Roland and buzznack for your response, So 233 Tick is less than 5 minutes!! Hope all these learnings can be applied in higher time frames as well Like H1, H4 and Daily. Please confirm. Due to day job I believe it might be difficult for me to check lower time frames. Can you please suggest on this.
I've been practicing Mr. Pip's method on the four hour charts for about three weeks now. Before that I was using the one hour. The harmonics are all over the place and the other things he teaches-- orderflow, structure analysis, supply and demand-- work great as well. Now I don't always implement these profitably myself. Properly reading a chart as he teaches is a skill that it takes time and practice to develop, sometimes I take impulsive entries, and trade management remains a weak area for me. But I can usually critique and see what I've gotten wrong in hindsight. I don't think the timeframe is the problem at all.
  • #18,103
  • Mar 11, 2016 8:23am Mar 11, 2016 8:23am
Quoting ramkirshnava
{quote} Thanks Roland and buzznack for your response, So 233 Tick is less than 5 minutes!! Hope all these learnings can be applied in higher time frames as well Like H1, H4 and Daily. Please confirm. Due to day job I believe it might be difficult for me to check lower time frames. Can you please suggest on this.
not quite.

A tick is an order, so the 233 tick chart is a candlestick made up of 233 orders or ticks, which could be over any period of time. A bar could take a day to close, or 1 minute..

The 5 min could be any amount of orders over a 5 min time frame - it could be 1 order.... or 1000 orders!
  • #18,104
  • Mar 11, 2016 8:24am Mar 11, 2016 8:24am
Quoting beepbop2015
{quote} I've been practicing Mr. Pip's method on the four hour charts for about three weeks now. Before that I was using the one hour. The harmonics are all over the place and the other things he teaches-- orderflow, structure analysis, supply and demand-- work great as well. Now I don't always implement these profitably myself. Properly reading a chart as he teaches is a skill that it takes time and practice to develop, sometimes I take impulsive entries, and trade management remains a weak area for me. But I can usually critique and see what I've...

Where to start with this...

And i mean to say i am exactly the same - except i work off the 15 minutes time frame!
  • #18,105
  • Mar 11, 2016 9:14am Mar 11, 2016 9:14am
UJ M1 30 pips
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Even though I walk through the darkest valley, I will fear no evil
  • #18,106
  • Mar 11, 2016 9:51am Mar 11, 2016 9:51am
First trade NY session. (Drawings from morning session still on chart) 34 pips and bring me up to 88 pips for the day. Took it out on weakness that showed to have strength so happy with that decision. Had very strong momentum and Projection so interesting to see where we get turn from the expected LH again.
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Trading in the shadow of SM
  • #18,107
  • Mar 11, 2016 11:06am Mar 11, 2016 11:06am
What a roller coaster of a week but finished it off with positive pips by sticking to the system!! E2 was placed just in case price pulled back to resistance area which it did.... and quickly was rejected. Ended with a sweet textbook trade.
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  • #18,108
  • Mar 11, 2016 11:16am Mar 11, 2016 11:16am
Quoting Harmonic1976
What a roller coaster of a week but finished it off with positive pips by sticking to the system!! E2 was placed just in case price pulled back to resistance area which it did.... and quickly was rejected. Ended with a sweet textbook trade. {image}
Why E1?
  • #18,109
  • Mar 11, 2016 11:18am Mar 11, 2016 11:18am
Quoting Earleone
First trade NY session. (Drawings from morning session still on chart) 34 pips and bring me up to 88 pips for the day. Took it out on weakness that showed to have strength so happy with that decision. Had very strong momentum and Projection so interesting to see where we get turn from the expected LH again. {image}
  • #18,110
  • Mar 11, 2016 11:20am Mar 11, 2016 11:20am
Quoting hovedguy
{quote} Why E1?
Bar by bar analysis... with the strong downward momentum from the blue line... I didn't think it was going to retrace much since it had a very strong downward projection and momentum....The red bar I entered on at close showed rejection to the upside. The expectancy was a shallow depth... and didn't really expect it to go to E2.

I've missed quite a few trades like this over the last two weeks. E2 would have been my ideal entry since it is at a resistance area... so I placed a limit order in case it triggered.
  • #18,111
  • Mar 11, 2016 1:34pm Mar 11, 2016 1:34pm
Quoting Earleone
First trade NY session. (Drawings from morning session still on chart) 34 pips and bring me up to 88 pips for the day. Took it out on weakness that showed to have strength so happy with that decision. Had very strong momentum and Projection so interesting to see where we get turn from the expected LH again. {image}
great job. very inspiring. You read price action very well. your charts are easy to understand as well. very professional
  • #18,112
  • Mar 11, 2016 2:09pm Mar 11, 2016 2:09pm
Quoting Mack2013
{quote} great job. very inspiring. You read price action very well. your charts are easy to understand as well. very professional
Thank you very much I Try to be a good student of Mr Pip!!
Trading in the shadow of SM
  • #18,113
  • Mar 11, 2016 4:31pm Mar 11, 2016 4:31pm
Quoting monocor
UJ M1 30 pips {image}
I want to thank you for something.

When I was looking at your charts I noticed it said TradeInterceptor.com. Just out of curiosity I went to the site and downloaded the platform. I'm now hooked on this platform! It's so much better than the Web Trading Station I was using from FXCM.

Best of all... they have something called Traders Gym for backtesting! I've been looking for something free like this for ages. You can load data from specific dates within the past 5 years. They also have a trading report that gives you win/loss and lot's of other stats.

I'm going to be busy this weekend practicing. I recommend this to everyone that doesn't have access to NinjaTrader's market replay.

Here's an instructional video on how to set it up - https://www.youtube.com/watch?v=Y1sNsT6VPDw

I'm one happy man right now!
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  • #18,114
  • Edited 5:06pm Mar 11, 2016 4:35pm | Edited 5:06pm
Question about futures forex trading vs. spot trading.... can you trade the futures forex pairs 24hrs a day?

What are the advantages over spot?

Also what time frames do you all trade? 233T, 5m, 15m, 1h, 4h, Daily, ETC.
  • #18,115
  • Mar 11, 2016 11:26pm Mar 11, 2016 11:26pm
Quoting lKeithStone
{quote} I want to thank you for something. When I was looking at your charts I noticed it said TradeInterceptor.com. Just out of curiosity I went to the site and downloaded the platform. I'm now hooked on this platform! It's so much better than the Web Trading Station I was using from FXCM. Best of all... they have something called Traders Gym for backtesting! I've been looking for something free like this for ages. You can load data from specific dates within the past 5 years. They also have a trading report that gives you win/loss and lot's of...

Hi lKeithStone (http://www.forexfactory.com/lkeithstone),

Is this something like forextester2.
  • #18,116
  • Mar 12, 2016 1:43am Mar 12, 2016 1:43am
Quoting ramkirshnava
{quote} Hi lKeithStone (http://www.forexfactory.com/lkeithstone), Is this something like forextester2.
I've personally never used ForexTester2 so I'm not sure. I do know that you can trade live with this platform as well as backtest (similar to NinjaTrader)... except this is free.
  • #18,117
  • Mar 12, 2016 7:45am Mar 12, 2016 7:45am
Quoting Harmonic1976
Question about futures forex trading vs. spot trading.... can you trade the futures forex pairs 24hrs a day? What are the advantages over spot? Also what time frames do you all trade? 233T, 5m, 15m, 1h, 4h, Daily, ETC.
You can check by yourself the trading hours at the CME (this is for the Eur/Usd also named 6E):
http://www.cmegroup.com/trading/fx/g10/euro-fx_contract_specifications.html

People trade it on every possible intervals, it's up to you.

If you have a good Forex broker who does not play games with you such as variable spreads, spikes etc. then i think i would stay with a Forex broker. However, many will tell you that the FX market is unregulated and as such you are more at risk with a FX broker. The huge advantage of FX is the size of your contract. The main advantage with Futures is volume can be measured more accuratly. Many will opt for currency ETF but in that case you will need to have a bigger account even if you can open a trade with a very small position size.

http://www.investopedia.com/articles/investing/092915/best-currency-etfs.asp
  • #18,118
  • Mar 12, 2016 8:35am Mar 12, 2016 8:35am
Hello traders,hello Mr Pip

I decided to start writing down a trading plan and then start following it mechanically.One of my first rules will be to take trades that are following the trend because going with the trend puts you in a better position.
My question has to do with trend identification,

Can we say that for each trader an uptrend or a downtrend has to do with the pips that is willing to risk??
....and i will explain what i want to say with the following chart.

in the chart we can see that long term we are in an uptrend (NSH,HL,NSH etc) and short term we are in a downtrend (NSL,LH,NSL etc)
and maybe in longer term we are in downtrend (you get the point)

If a trader at the current price level,

A)wants to enter the market long and have the blue (turquoise) expectation should put stops about 95 pips away (it would be a good idea at least)

B)wants to enter the market short and have the pink line expectation should put stops about 42 pips away
In both cases the intention is to follow the trend:nerd:

so a trader that can afford risking 95 pips can follow the uptrend and go long,But a trader that can afford only 42 should follow the downtrend and go short..
..Having this in mind, in your opinion,does this question makes sense??and what do you propose?
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learn more , earn more
  • #18,119
  • Mar 12, 2016 9:22am Mar 12, 2016 9:22am
Quoting ramkirshnava
{quote} Hi lKeithStone (http://www.forexfactory.com/lkeithstone), Is this something like forextester2.
Nope, Trade interceptor is a Trading platform,
Bulls are stupid Animals!especially when Im short!
  • #18,120
  • Mar 12, 2016 10:34am Mar 12, 2016 10:34am
Quoting crixus
{quote} You can check by yourself the trading hours at the CME (this is for the Eur/Usd also named 6E): http://www.cmegroup.com/trading/fx/g10/euro-fx_contract_specifications.html People trade it on every possible intervals, it's up to you. If you have a good Forex broker who does not play games with you such as variable spreads, spikes etc. then i think i would stay with a Forex broker. However, many will tell you that the FX market is unregulated and as such you are more at risk with a FX broker. The huge advantage of FX is the size...
Thanks for the info crixus
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