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Ratios & Harmonics: a Different Way to Trade

  • #19,721
  • Jun 7, 2016 2:39pm Jun 7, 2016 2:39pm
Quoting tigerfx1
{quote} Thanks will take a look. All the best.

http://ninjatrader.com/ConnectionGuides/FXCM-Connection-Guide

hope this helps. You'll need a FXCM account first , demo or live. Your broker may also support NT
  • #19,722
  • Jun 7, 2016 3:56pm Jun 7, 2016 3:56pm
@Mack2013 @jmezz

Thanks to both of you for sharing your journey. I can relate to your situation. I have been at it since 2009. I am an ex Microsoft system analyst but at the end did not like this job anymore although it was quite lucrative. My spouse and friends are very supportive though which is great. I have stopped posting here as i use other principles based on the auction process and volume profile analysis. However, i keep reading your daily posts.
  • #19,723
  • Edited 5:48pm Jun 7, 2016 5:15pm | Edited 5:48pm
Quoting Mack2013
{quote} Its amazing how many of us are coming from the same place, from different lives, in different areas of the world. I think the struggle is the same for most individual, subject to varies degrees of coarse. I believe the emotional roller coaster is the worst aspect. It takes time to really get a handle on. I feel you. its funny because my woman said almost the exact same thing with the "are you %&$@'en kidding me" look. lol US30 - 89T No trade for me today. I'm still finding it difficult to analyze direction after price has gone from S/T nsh...
Something I am trying to get better at is recognizing early when the market starts consolidating. Today I didn't pick up on it until after my garbage short but for the rest of the time that I was at my screens YM was basically off limits.

However when I pick up on conolidation that tells me to:

1. SOH until a NSH is made
2. SOH until a NSL is made

I didn't bother anymore today trying to trade any of the crap inbetween.

When I see consolidation, for me I think it's best to box it off and wait for either a signal of trend continuation (close > green line) or signal of order flow change (close < red line).

We are trend followers essentially so the sideways stuff can cut us up pretty good.

I really wish I stayed today because it gave the order flow change and then pulled back to offer entry for the dump. That first pullback after an orderflow change has become the number 1 trade that I keep my eyes peeled for as I feel that they are very high odds.
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  • #19,724
  • Jun 7, 2016 5:36pm Jun 7, 2016 5:36pm
Quoting crixus
@Mack2013 @jmezz Thanks to both of you for sharing your journey. I can relate to your situation. I have been at it since 2009. I am an ex Microsoft system analyst but at the end did not like this job anymore although it was quite lucrative. My spouse and friends are very supportive though which is great. I have stopped posting here as i use other principles based on the auction process and volume profile analysis. However, i keep reading your daily posts.
I think it's awesome to get some background story on the posters in this thread, hearing about other people's trading journeys is hugely interesting.

I'm in an email group for when I mostly used Thinkorswim and one of the guys in there just detailed his journey:
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Everyone has hardships trying to figure out how to trade the market but I enjoy hearing about people who don't give up as well as those that persevere.

Having supportive family and friends is huge, it seems that finding a significant other that will stand behind you while you attempt to reach the trading promised land is very difficult haha. But it's like that in a lot of things when you think about it - very few people are there before the success while many people appear after the success.
  • #19,725
  • Jun 8, 2016 7:23am Jun 8, 2016 7:23am
Quoting jmezz
{quote} I really wish I stayed today because it gave the order flow change and then pulled back to offer entry for the dump. {image}
funny, I also went short, as i realized price was having difficulty breaking through that resistance area (RN in close proximity). But then, I thought...no way you're going against trend and closed it....just to realize a few minutes later that market indeed pulled back and went south.
I still think that the trend is up so let's see if we get a NSH today.
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  • #19,726
  • Jun 8, 2016 7:27am Jun 8, 2016 7:27am
this is what I see, but wont trade until 3:30 my time (Damian's time).
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  • #19,727
  • Jun 8, 2016 7:45am Jun 8, 2016 7:45am
YM

LTF down STF up.

Overall expectation = NSL
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  • #19,728
  • Jun 8, 2016 7:56am Jun 8, 2016 7:56am
Quoting ujku80
{quote} funny, I also went short, as i realized price was having difficulty breaking through that resistance area (RN in close proximity). But then, I thought...no way you're going against trend and closed it....just to realize a few minutes later that market indeed pulled back and went south. I still think that the trend is up so let's see if we get a NSH today. {image}
Yeah that was a gutsy entry haha. I'd have most likely managed it the same as you, as soon as that thing went positive take the money and run lol.
  • #19,729
  • Jun 8, 2016 8:06am Jun 8, 2016 8:06am
Quoting jmezz
{quote} Yeah that was a gutsy entry haha. I'd have most likely managed it the same as you, as soon as that thing went positive take the money and run lol.
yeah it's amazing what funny tricks the mind plays with you when in a trade lol
  • #19,730
  • Jun 8, 2016 8:38am Jun 8, 2016 8:38am
I missed one entry.
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  • #19,731
  • Jun 8, 2016 9:11am Jun 8, 2016 9:11am
news @
10:30 EDT
Crude Oil Inventories

It often impacts the ES and YM
  • #19,732
  • Jun 8, 2016 11:04am Jun 8, 2016 11:04am
YM +8, + 14, b/e, -8 = +14 total
ES +2.5

YM is sort of hard to see, I changed chart timeframe and it messed up the trade markers when I clicked back. When I tried adding fibs to show each of the setups I took it made it look like complete garbage and it was impossible to read so I left them off.
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  • #19,733
  • Jun 8, 2016 11:09am Jun 8, 2016 11:09am
Quoting jmezz
{quote} Something I am trying to get better at is recognizing early when the market starts consolidating. Today I didn't pick up on it until after my garbage short but for the rest of the time that I was at my screens YM was basically off limits. However when I pick up on conolidation that tells me to: 1. SOH until a NSH is made 2. SOH until a NSL is made I didn't bother anymore today trying to trade any of the crap inbetween. When I see consolidation, for me I think it's best to box it off and wait for either a signal of trend continuation (close...
Thank you for your input. I believe your right.

I also noticed that the 3 wave is usually the most profitable too
  • #19,734
  • Jun 8, 2016 11:43am Jun 8, 2016 11:43am
Good morning everybody

US30 - 89T

This is what I'm seeing. I'm Bullish on the dow but Price is at a level of resistance and deep in the move. Looking for price to PB, then reanalyze for an entry. I'm thinking maybe a medium to deep PB based on the current facts. (50 - 78.6)

 

  1. Current swing larger then previous but the momentum is decelerating - slighlty bullish
  2. The Price touched the 127.2 or pretty close to it anyway - slighlty bullish
  3. S/T nsh following a L/T weak NSH - Bullish
  4. Bear swings have some momentum - Bearish
  5. Edit: 18000 seems to be a strong physiological barrier - bearish

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  • #19,735
  • Jun 8, 2016 11:49am Jun 8, 2016 11:49am
Can you guys take a look at this chart and let me know if / where I went wrong?

I was expecting a NSL on the long term however it did not happen.

Wondering if there's something I didn't analyze correctly or if this was one of those trades that just wouldn't have worked out.
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  • #19,736
  • Jun 8, 2016 12:05pm Jun 8, 2016 12:05pm
Quoting Mack2013
Good morning everybody US30 - 89T This is what I'm seeing. I'm Bullish on the dow but Price is at a level of resistance and deep in the move. Looking for price to PB, then reanalyze for an entry. I'm thinking maybe a medium to deep PB based on the current facts. (50 - 78.6) Current swing larger then previous but the momentum is decelerating - slighlty bullish The Price touched the 127.2 or pretty close to it anyway - slighlty bullish S/T nsh following a L/T weak NSH - Bullish Bear swings have some momentum - Bearish Edit: 18000 seems to be a strong...
Bahhhh. My rotation candle sucks and not very convincing of bullish strength but its in line with expectations. I think I was a little antsy on the trigger.

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  • #19,737
  • Jun 8, 2016 12:06pm Jun 8, 2016 12:06pm
Quoting Mr. Pip
SPECIAL NOTE: Hello Traders, read the introduction below and then start on this post http://www.forexfactory.com/showthread.php?p=8722695#post8722695 This will save you mountains of time going through the hundreds of pages. I am doing something special here. Thank you. Hello Traders, I’m Mr. Pip; I am a fulltime trader and trade ratios and harmonics. I’m starting this thread with the purpose of providing some insight on the topic of ratios and harmonic trading. I understand this is an advance method of trading but let’s not let that affect...
Why you need to trade with all these indicators. Just trade the price action!
  • #19,738
  • Jun 8, 2016 12:14pm Jun 8, 2016 12:14pm
Quoting jmezz
Can you guys take a look at this chart and let me know if / where I went wrong? I was expecting a NSL on the long term however it did not happen. Wondering if there's something I didn't analyze correctly or if this was one of those trades that just wouldn't have worked out. {image}
No I don't think you were wrong with your original expectation but when Price gained momentum into your PB, you need to take it into account. It was a warning especially when the trend was bullish. Bears fought for control and the bulls regained territory.

There was some decent bar by bar action but it was soft compared to the action at the low and move up.

Price action is similar to a failed breakout. If the PB to the Breakout is strong, it kind of lowers the probability of success.

Quit honestly, I think this entry would have been nice and probably would have taken it so I would of loss out as well (sorry for the poor graphic)

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  • #19,739
  • Jun 8, 2016 12:28pm Jun 8, 2016 12:28pm
Quoting sharingan9
{quote} Why you need to trade with all these indicators. Just trade the price action!
but indicators are the way to financial freedom. all you need is 2 or 3 robots to agree with a stock and rsi with the piston level concept indicator, its straight gold. 95 % success rate. that and the willy wonka money management system, Dammmm! crappy beans into a golden turkey that shits brinks.
  • #19,740
  • Jun 8, 2016 1:12pm Jun 8, 2016 1:12pm
I'm sorry for this boring action right now guys, I'm not leaving the screens today so the market isn't going to do anything for the rest of the day.

Maybe tomorrow I'll cut out early in the afternoon per usual and you can have your afternoon volatility back.
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