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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

  • #27,701
  • Edited 3:30am Apr 13, 2017 3:20am | Edited 3:30am
GBPUSD Short (M5)
Managed to get a few pips on the short term order flow.
Entry was based on the rotation a few candles earlier.
Against the longer term order flow, so I protected early.
I was aiming for a 1:1 harmonic, but when PA didn't get there initially, I exited manually due to the structure.
It got to 1:1 in the end.

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  • #27,702
  • Apr 13, 2017 3:41am Apr 13, 2017 3:41am
Quoting finfresh
GBPUSD Short (M5) Managed to get a few pips on the short term order flow. Entry was based on the rotation a few candles earlier. Against the longer term order flow, so I protected early. I was aiming for a 1:1 harmonic, but when PA didn't get there initially, I exited manually due to the structure. It got to 1:1 in the end. {image}
Nice trade. I was wondering what is your trading period and how many pairs you watch daily? Trading on the 5 minute sounds good(more setups) but isn't it too much screen time? And too much information to filter. I was trading the 1min to 30 seconds last time so i know how it felt.
  • #27,703
  • Apr 13, 2017 4:57am Apr 13, 2017 4:57am
Shorted the USDJPY at structure with good rotation.
Long term order flow is down.
I dont like the strength of the bulls.. let see what happens.
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  • #27,704
  • Apr 13, 2017 5:06am Apr 13, 2017 5:06am
Quoting CrocodileRex
{quote} Nice trade. I was wondering what is your trading period and how many pairs you watch daily? Trading on the 5 minute sounds good(more setups) but isn't it too much screen time? And too much information to filter. I was trading the 1min to 30 seconds last time so i know how it felt.
Cheers. I mainly look at EU, EJ, GU, GJ, UJ and maybe a few others (depending on the ADR). Screen-time from about 1hr before Frankfurt Open until the end of London open, so about 3hrs (the first hour I mainly spend analyzing which pairs to concentrate on for the day). I haven't traded the method for long, so am still really deciding how I want to trade it and what pairs to concentrate on. I've mainly had entries on longer term order flow, which means trades can last a few hours on the M5 chart, so I end up managing them on my mobile, which isn't ideal. As I'm learning, I'm getting more confident at how to trade the shorter term order flow (like this trade) which is how I want to trade in the future.
  • #27,705
  • Apr 13, 2017 6:33am Apr 13, 2017 6:33am
GM Traders,

Let's see if the market wants to move today. With tomorrow being a holiday some people may not engage today.
If you fail to plan, you plan to fail.
  • #27,706
  • Apr 13, 2017 6:36am Apr 13, 2017 6:36am
Quoting Mr. Pip
GM Traders, Let's see if the market wants to move today. With tomorrow being a holiday some people may not engage today.
Good Morning Damian.
  • #27,707
  • Apr 13, 2017 6:40am Apr 13, 2017 6:40am
Quoting Mr. Pip
GM Traders, Let's see if the market wants to move today. With tomorrow being a holiday some people may not engage today.
I just did a long trade on YM, but I used my trailing wrong and got taken out for +6 (instead of X points)
  • #27,708
  • Apr 13, 2017 6:41am Apr 13, 2017 6:41am
Quoting evocpr19
{quote} I just did a long trade, but I used my trailing wrong and got taken out for +6 (instead of X points)
Green is green
If you fail to plan, you plan to fail.
  • #27,709
  • Apr 13, 2017 7:34am Apr 13, 2017 7:34am
Dj30 looking for long
  • #27,710
  • Apr 13, 2017 7:49am Apr 13, 2017 7:49am
Quoting Velikov
Dj30 looking for long
long
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  • #27,711
  • Apr 13, 2017 7:52am Apr 13, 2017 7:52am
Quoting Velikov
{quote} long {image}
just took 3 rotations and been stop 3 times @be ! have to try again ^^
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There is no way to happiness , happiness is the way.
  • #27,712
  • Apr 13, 2017 8:10am Apr 13, 2017 8:10am
finally catched some pips on the 4th long tentative ! take the short strong rotation, be already will see
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There is no way to happiness , happiness is the way.
  • #27,713
  • Apr 13, 2017 8:31am Apr 13, 2017 8:31am
Quoting Ockham
finally catched some pips on the 4th long tentative ! take the short strong rotation, be already will see {image}
You do high frequency trading.
  • #27,714
  • Apr 13, 2017 8:43am Apr 13, 2017 8:43am
Yeah man, he is kick boxing... jap jap..... jap jap lol
  • #27,715
  • Apr 13, 2017 8:52am Apr 13, 2017 8:52am
Quoting evocpr19
{quote} You do high frequency trading.
I'm probably more interesting by short term order flow , anyway expectation was still NSH and we were on 61.8% fibo so i took all this 4 strong bull rotation, yes may be seems a lot ! but i like tight sl, and when we almost retest the previous NSH and the market react with a strong bear rotation expectation was almost to re test the 61,8% and probably more depth than this..

Also it is the first time i trade the YM just trying NT8 for the first time as well, i think i cannot turn back to another platform any more
There is no way to happiness , happiness is the way.
  • #27,716
  • Apr 13, 2017 9:06am Apr 13, 2017 9:06am
YM, 1 point is $5.

looking at its M5 swings, easily need to risk 50 pts per trade. That's $250 per trade per contract.

i normally risk 1% per trade. That means I need minimum $25k account to trade 1 contract, and can't trade big swings, can only limit to small swings.

That's too big for me at the moment. Looks like I need to grow my accounts with forex and Cfd for another few years before I can trade futures.
  • #27,717
  • Apr 13, 2017 9:07am Apr 13, 2017 9:07am
stop hit , next
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  • #27,718
  • Edited 9:57am Apr 13, 2017 9:36am | Edited 9:57am
Quoting lithium1
YM, 1 point is $5. looking at its M5 swings, easily need to risk 50 pts per trade. That's $250 per trade per contract. i normally risk 1% per trade. That means I need minimum $25k account to trade 1 contract, and can't trade big swings, can only limit to small swings. That's too big for me at the moment. Looks like I need to grow my accounts with forex and Cfd for another few years before I can trade futures.
yes it was my thinking process as well, but it's changing now, first futures cost are much cheaper and tick chart are more realistic from what i can see right now that i try NT, look below the 233 tick chart vs the 5M chart, i probably took any of my entries using the 5m chart, but i will check this one more week to be sure.
Of course with a small account as mine and 5$ per point you can forget a 50 pips SL but it's seems to not be an issue with tight SL, of course expectation need also to be realistic. It really depend the way you trade, if you need to trade the full structure or the immediate short term order flow. Also if your expectation is smaller your win rate will also increase and you could probably risk 2-3% by trade, the most important imho is to be confident in your analysis and to have the good plan to your mm.. not so easy and still working on this
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There is no way to happiness , happiness is the way.
  • #27,719
  • Apr 13, 2017 9:47am Apr 13, 2017 9:47am
Quoting lithium1
YM, 1 point is $5. looking at its M5 swings, easily need to risk 50 pts per trade. That's $250 per trade per contract. i normally risk 1% per trade. That means I need minimum $25k account to trade 1 contract, and can't trade big swings, can only limit to small swings. That's too big for me at the moment. Looks like I need to grow my accounts with forex and Cfd for another few years before I can trade futures.
Wow, Lithium... You would really risk 50 ticks trading the 5 minute chart. Think about that... when should you risk 50 ticks, if you are a position trader who focuses on 4hour or daily charts. Trading the 5 minute chart, wouldn't it be better to cut your losers quickly, say after 10 ticks... knowing that when you get a runner that extends 40+ ticks it is going to erase the one or two losers you took to find that perfect entry?

I know everyone says, "don't risk more than 2% of your capital per trade", but are you really expecting to have 50 losing trades in a row (100 losing trades in a row if 1%)? Keep in mind who's putting this garbage out there... the same "teachers" (think failed traders) who rely on indicators to tell them when to enter trades at retail/trap levels. I guarantee you, that if you only wanted to trade one contract of YM at a time, $3000 would be am ample amount to have using the tools Damian is teaching you.

Maybe Damian or another regular can help. A while back in the thread there was a discussion around aggressive growth targets and a spreadsheet that was created to help manage the position size. But the basic premise was that rather than trading the minimum a profitable trader should be looking to trade the maximum number of contracts margin requirements would allow to quickly grow their account. With $3000 in an account for example, you could trade 6 contracts of YM, not just 1.
  • #27,720
  • Apr 13, 2017 9:50am Apr 13, 2017 9:50am
Quoting Nik-Nyc
{quote} DFN, Correct, those columns represent the different margin levels required to trade. For most traders that daytrade, and therefore close all positions by NY close, the most important column is the last one, Intraday. According to to the figures you posted, $500 of free margin is required for each contract you wish to trade intraday. Each broker is different, but most i have seen require $500/contract intraday on mini's & indicies. Keep an eye on your MM though . . . Best, N
Thank you for your Answer Nik!
It seems I will start with MIJY which is for the micro version of the 6J, I think.

Anyway,
I see there is a commission depends on what License you have.
What is the difference between Per Contract and Round Turn?
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