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Ratios & Harmonics: a Different Way to Trade

  • #18,621
  • Mar 25, 2016 6:48pm Mar 25, 2016 6:48pm
My ticks are not much different no matter how many times i refresh. I can close all windows, load them back and they will always look identical. But all of our ticks will be different based on our brokers. If we all had the same broker, all good. same same. But different brokers see the incoming (and outgoing) ticks a little differently, it's a side-effect of the way the Forex market is "built".

Quoting Earleone
{quote} This is interesting. It means that we all see different bars on our Ninjatraders even if we use the same tick size. So where I have an wick an other user can have a full candle an get an NSH while I get an LH. hmm.
Markets can remain irrational longer than you can remain solvent - JMK
  • #18,622
  • Mar 25, 2016 10:32pm Mar 25, 2016 10:32pm
I got bored... So, now up to the 200th level in the spreadsheet we have fun Level names! basically there are 10 ranks for each level name and there are 20 level names total.. So now leveling up is fun and rewarding! :-)

As always, it's view only. Please use File->Make a copy... to pull it into your own google account for editing. ;-)

** Maybe I should make it say "Courtmartialed" if you fall below your initial balance? lol

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Markets can remain irrational longer than you can remain solvent - JMK
  • #18,623
  • Mar 26, 2016 3:06pm Mar 26, 2016 3:06pm
Professor,

Here is my homework on structure analysis. I'm excited to go onto the next lesson.
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  • #18,624
  • Mar 26, 2016 4:42pm Mar 26, 2016 4:42pm
Quoting Timwelch
I got bored... So, now up to the 200th level in the spreadsheet we have fun Level names! basically there are 10 ranks for each level name and there are 20 level names total.. So now leveling up is fun and rewarding! :-) As always, it's view only. Please use File->Make a copy... to pull it into your own google account for editing. ;-) ** Maybe I should make it say "Courtmartialed" if you fall below your initial balance? lol {image}
Tim

as your the excel king,,,could you take a look at mr pips excel spreadsheet and possibly make it a little easier to use

what i mean is contract size is 1,,,,i tried putting the contract size in as 0.01 with account of $1000
but numbers didnt come out right ,,,,,could this be amended to show correctly if mini or micro lots are used instead on contracts?
  • #18,625
  • Mar 26, 2016 4:47pm Mar 26, 2016 4:47pm
Quoting devontrader
{quote} Tim as your the excel king,,,could you take a look at mr pips excel spreadsheet and possibly make it a little easier to use what i mean is contract size is 1,,,,i tried putting the contract size in as 0.01 with account of $1000 but numbers didnt come out right ,,,,,could this be amended to show correctly if mini or micro lots are used instead on contracts?
I played around with Mr P's spreadsheet as well and noticed if you drop the starting balance below 10k you start to encounter issues with the ratios working.

Also am confused on the 'p/l' column that you input on as I believe this stands for 'profit per contract,' or at least that's how I'm taking it. Which confuses me further as I am not clear on how to use it if you trade more than 1 symbol because more likely the tick value will be different.
  • #18,626
  • Mar 26, 2016 5:08pm Mar 26, 2016 5:08pm
Devontrader & Jmezz,

Quoting jmezz
{quote} I played around with Mr P's spreadsheet as well and noticed if you drop the starting balance below 10k you start to encounter issues with the ratios working. Also am confused on the 'p/l' column that you input on as I believe this stands for 'profit per contract,' or at least that's how I'm taking it. Which confuses me further as I am not clear on how to use it if you trade more than 1 symbol because more likely the tick value will be different.
I was abe to modify Mr Pips original contract-based spreadsheet to work pretty well with forex lot sizing. He does have one for forex that he has shared with me via Skype, but I've been in the hospital and haven't looked at it yet.

As far as the P/L section goes. It's basically an "end of the day" or "end of the week" dollar value, depending on how you are using the sheet. So if you trade multiple pairs, use the total dollar value gained or lost for all trades on a day. It's not meant to be a Per trade spreadsheet. That could get very very messy and large depending on your trading style. But it WONT, without modification, calculate lot sizing based on anything other than USD based pairs at the moment. That's a significant amount of refactoring to make that work properly. I should be out of the hospital, God willing, by thursday of next week, so I'll attempt to look at the spreadsheet while I have some free time here. Thanks for your patience guys. :-)
Markets can remain irrational longer than you can remain solvent - JMK
  • #18,627
  • Mar 26, 2016 5:14pm Mar 26, 2016 5:14pm
Quoting Timwelch
Devontrader & Jmezz, {quote} I was abe to modify Mr Pips original contract-based spreadsheet to work pretty well with forex lot sizing. He does have one for forex that he has shared with me via Skype, but I've been in the hospital and haven't looked at it yet. As far as the P/L section goes. It's basically an "end of the day" or "end of the week" dollar value, depending on how you are using the sheet. So if you trade multiple pairs, use the total dollar value gained or lost for all trades on a day. It's not meant to be a Per trade spreadsheet. That...
Thanks Tim
i fully understand what the spreadsheet does

its just mr pips uses contract size eg for futures

be great if we could have the same for forex,,,so we place our account size and starting lot size eg 0.01 0.1 or 1.0 and it does the same job.

mr pips said about just imagine the lot size and adjust mentally the contract and 0 placements-----i could quite get my head around that part
  • #18,628
  • Mar 26, 2016 6:14pm Mar 26, 2016 6:14pm
Quoting JTTrader
Professor, Here is my homework on structure analysis. I'm excited to go onto the next lesson. {image}
Good work
If you fail to plan, you plan to fail.
  • #18,629
  • Mar 27, 2016 1:43am Mar 27, 2016 1:43am
Quoting Timwelch
Ok. So, the Fixed Ratio is great up to a point. But, because of the way it calculates, it will continually work the risk down to as near 0 as it can over time. This is not super ideal, and once you hit a certain level of risk, to continue to grow your balance at a decent pace (i.e. the whole point of this is to make your money work for you), you should then switch to something like the original fixed risk %. In doing this, assuming you fix that % at a small enough size, you will protect your capital from extreme loss. Below is an example. It's pretty...
Hello Timwelch,

I am very interested to get the link for the Google version of this spreadsheet.
I am also very keen to know how you customised it for forex trading.
Have you posted it somewhere on the thread?

Thanks!
  • #18,630
  • Mar 27, 2016 1:46am Mar 27, 2016 1:46am
Quoting kaasatrader
{quote} Hello Timwelch, I am very interested to get the link for the Google version of this spreadsheet. I am also very keen to know how you customised it for forex trading. Have you posted it somewhere on the thread? Thanks!
try reading posts before you post.Its clear.....your answer is only 3 or 4 postings back.....read b4 you post please !!!!!!
  • #18,631
  • Mar 27, 2016 2:11am Mar 27, 2016 2:11am
Quoting devontrader
{quote} try reading posts before you post.Its clear.....your answer is only 3 or 4 postings back.....read b4 you post please !!!!!!
Hello devontrader,

I can see you answered the forex-part of my question.
Still I must have missed the spreadsheet-file or link.
Do you know if it has been posted? I could not find it going through the posts from Timwelch.
I assume he will do it soon, as he mentions in post 18,626 he will look at it soon.

Thanks!
  • #18,632
  • Mar 27, 2016 4:41am Mar 27, 2016 4:41am
No problem

What i will say for all newcommers.....welcome
Please go to page 1 post 1

Mr pips posted a link

Please go to that link and read forwards from there and absorb all info.

Then if any questions please post
  • #18,633
  • Mar 27, 2016 8:18am Mar 27, 2016 8:18am
  •  313
  • | Joined Jun 2015 | Status: Strive and Overcome! | 46 Posts
Hi i've been trading 1 year the last 6 month was really heavy for me to find and knowing the price movement. got broke etc. i want to share some parameter for price action that i learned from this site (M. Huddleston) http://www.theinnercircletrader.com/, In this bussines it's really hard to get information. Im just want to help and share in hope i do get some more CORRECT information to help me improve my profitabilty/trader who will generously teach me to trade, and pass the information again to people.

1. Find LH/HL
2. Wait until the price make a NSH/NSL
3. Find a candle that drove price from that NSH/NSL

If you look at the harmonic pattern it's almost capture the whole picture of the concept, with a more general approach to see a pattern. And of course Im a noob

NB: the red line is my projection support. Sorry for the english though still learning to communicate effectively .
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  • #18,634
  • Mar 27, 2016 10:34am Mar 27, 2016 10:34am
My apologies, I thought I added the link for the google spreadsheet in the post. I'll go update the post, but here is the link for your reference. We are all supposed to be here to help each other become better traders, so if you have any more questions, please feel free to PM me directly.

https://docs.google.com/spreadsheets/d/1-2A9mNBiJxFHjLvTY2chXI3he1B55-MkEDHDbxBmb3I/edit?usp=sharing

*Unfortunately the edit button has disappeared for that post, so I cannot update it. :-(

Quoting kaasatrader
{quote} Hello devontrader, I can see you answered the forex-part of my question. Still I must have missed the spreadsheet-file or link. Do you know if it has been posted? I could not find it going through the posts from Timwelch. I assume he will do it soon, as he mentions in post 18,626 he will look at it soon. Thanks!
Markets can remain irrational longer than you can remain solvent - JMK
  • #18,635
  • Mar 27, 2016 11:09am Mar 27, 2016 11:09am
Quoting Timwelch
My apologies, I thought I added the link for the google spreadsheet in the post. I'll go update the post, but here is the link for your reference. We are all supposed to be here to help each other become better traders, so if you have any more questions, please feel free to PM me directly. https://docs.google.com/spreadsheets/d/1-2A9mNBiJxFHjLvTY2chXI3he1B55-MkEDHDbxBmb3I/edit?usp=sharing *Unfortunately the edit button has disappeared for that post, so I cannot update it. :-( {quote}
Hello Tim,

Thanks a lot!
I am just getting started, trying to build my box of tools to become consistent.
I knew MM was important, but I had no idea it could be this powerful.
Thanks again.

Regards,
Eirik
  • #18,636
  • Mar 27, 2016 12:22pm Mar 27, 2016 12:22pm
Mr Pip -

I was practicing on market replay and I'd like your opinion on a scenario.

- Price makes NSH
- Expecting pullback to around middle of the range
- Price pauses on structure

Would you attempt a trade here or would you wait for that deeper pullback?

Usually I would not attempt this sort of trade as it hasn't even retraced to the 38.2, however there is decent structure there. Also the momentum on the leg that created the NSH is very strong, the bull's viagra has definitely kicked in haha.

My entry would have been after the close of the candle I drew a candle under. Stop would have gone 1 pt below the cyan structure zone. So essentially you'd be looking at 7pts to retest the high vs an 8pt stop. Very tight range to set a b/e stop but expectation would be a strong NSH given the momentum and shallow correction.

What are your thoughts?
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  • #18,637
  • Edited 8:33am Mar 28, 2016 7:44am | Edited 8:33am
Happy Easter Traders, Hope all is well and those not in good shape i wish you a speedy recovery.

Thanks for the excel spreadsheet, way better than what i had (pad and pen), im using mr pips sheet but i have an issue with the smooth ratio column, the contract size never increases if anyone can spot what i did wrong or what i haven't done that would be helpful

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thought id post a few charts as markets are slow as expected, should i even have positions open

dow 5min - not much order flow analysis identified supply area and used bar bay bar
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usdjpy 5min price was rising NSH failed, NSL achieved, same again please, i would like to see price break lower channel for another entry short.
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usdcad break even - moved stop loss too early, took me out and fell 30 points.
gbyjpy -24 had so many opportunities to close at breakeven
  • #18,638
  • Mar 28, 2016 7:55am Mar 28, 2016 7:55am
Quoting Timwelch
My apologies, I thought I added the link for the google spreadsheet in the post. I'll go update the post, but here is the link for your reference. We are all supposed to be here to help each other become better traders, so if you have any more questions, please feel free to PM me directly. https://docs.google.com/spreadsheets/d/1-2A9mNBiJxFHjLvTY2chXI3he1B55-MkEDHDbxBmb3I/edit?usp=sharing *Unfortunately the edit button has disappeared for that post, so I cannot update it. :-( {quote}
Tim is yours setup solely for Forex or what would need to be changed to use it on Futures contracts?

Quoting Asr1
Happy Eater Traders, Hope all is well and those not in good shape i wish you a speedy recovery. Thanks for the excel spreadsheet, way better than what i had (pad and pen), im using mr pips sheet but i have an issue with the smooth ratio column, the contract size never increases if anyone can spot what i did wrong or what i haven't done that would be helpful thought id post a few charts as markets are slow as expected, should i even have positions open dow 5min - not much order flow analysis identified supply area and used bar bay bar {image}
I'm having issues with Mr Pip's sheet as well. I've noticed if you drop the starting balance under 10k then you start to encounter problems with the contract size increasing.
  • #18,639
  • Mar 28, 2016 8:13am Mar 28, 2016 8:13am
Quoting jmezz
{quote} Tim is yours setup solely for Forex or what would need to be changed to use it on Futures contracts? {quote} I'm having issues with Mr Pip's sheet as well. I've noticed if you drop the starting balance under 10k then you start to encounter problems with the contract size increasing.
ok not just me then. i see Mr pip only caters for the high rollers
  • #18,640
  • Edited 8:48am Mar 28, 2016 8:21am | Edited 8:48am
EDIT: I'm working on a dropdown to change between forex and futures. ;-)

It should work straight out of the gate for contracts as well. Just make sure your starting lot size is 1.00 and your Add-on is 1.00. And it will always increment by whole numbers there. It only does fractional (0.10, 0.04, etc) when your start/add-on size is a fraction of a number.

Quoting jmezz
{quote} Tim is yours setup solely for Forex or what would need to be changed to use it on Futures contracts? {quote} I'm having issues with Mr Pip's sheet as well. I've noticed if you drop the starting balance under 10k then you start to encounter problems with the contract size increasing.
Markets can remain irrational longer than you can remain solvent - JMK
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