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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

  • #27,841
  • Apr 19, 2017 11:34am Apr 19, 2017 11:34am
Quoting Victor_Lin
when I move SL, I am accidentally pressed exit. + 41 {image}
Crap missed a beauty. At least we read it properly. Another awesome day.
If you fail to plan, you plan to fail.
  • #27,842
  • Apr 19, 2017 12:58pm Apr 19, 2017 12:58pm
Hello Damian

Dow 5 min chart

I wanted to take this short entry on the Dow today when reached into the Reversal Zone 38.2 - 50.0 retrace.

I did not enter however due to stop (red zone) being too far away from entry, and my target (green zone) being too close, to structure.

A risk reward less than 1:1.

How would you have handled this.

Regards
Aj1
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  • #27,843
  • Apr 19, 2017 1:49pm Apr 19, 2017 1:49pm
Quoting Aj1
Hello Damian Dow 5 min chart I wanted to take this short entry on the Dow today when reached into the Reversal Zone 38.2 - 50.0 retrace. I did not enter however due to stop (red zone) being too far away from entry, and my target (green zone) being too close, to structure. A risk reward less than 1:1. How would you have handled this. Regards Aj1 {image}
How about this...

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  • #27,844
  • Apr 19, 2017 2:42pm Apr 19, 2017 2:42pm
Quoting Aj1
Hello Damian Dow 5 min chart I wanted to take this short entry on the Dow today when reached into the Reversal Zone 38.2 - 50.0 retrace. I did not enter however due to stop (red zone) being too far away from entry, and my target (green zone) being too close, to structure. A risk reward less than 1:1. How would you have handled this. Regards Aj1 {image}
My profit expectation is always a 1:1 move and I was looking for an entry but I had to pick up my daughter with stomach ache. She is fine I think with the baby and all she is looking for some attention. Poor things.

On occasion you might find an opportunity that does not have the right RR but the strength in the driving force says go ahead. As long as you have the room to protect the you I would take it. Your target was a test of structure and in those types of targets, unless you are taking them at the 61.8 or better RR is just not optimal.
If you fail to plan, you plan to fail.
  • #27,845
  • Apr 19, 2017 3:54pm Apr 19, 2017 3:54pm
Damian, how do you choose which instruments you going to trade for a day a why?
I usually look for higher time frame 1H to define the trend and then go to 5M time frame to look for buy/sell oportunities to enter the trend. If its ranging on 1H time frame i usually skip that instrument to trade and move to other one
  • #27,846
  • Apr 19, 2017 4:03pm Apr 19, 2017 4:03pm
Quoting DizzleFX
Took a short on EU. Price made a week NSL and made a pretty decent retracement into an area of structure. It immediately gave a good rotation candle at witch I entered the trade. The bulls showed some strength going into the retracement, so it does carry a little more risk. Either way, I am in the trade. {image}
For some reason, TP didn't trigger, but nice to know my analysis was right on. Since I was at BE +5, I put 5 pips in the bank. I'll take it!
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Damn The Torpedoes, Full Speed Ahead!
  • #27,847
  • Apr 19, 2017 4:15pm Apr 19, 2017 4:15pm
Quoting cititon
Damian, how do you choose which instruments you going to trade for a day a why? I usually look for higher time frame 1H to define the trend and then go to 5M time frame to look for buy/sell oportunities to enter the trend. If its ranging on 1H time frame i usually skip that instrument to trade and move to other one
Hello Cititon, I only trade the YM. I use to be one of those traders that would go through a long and crazy process to figure out what I wanted to trade for the session. This however evaporated once I learned to process the chart with accuracy. You see as an intraday trader there should be opportunities on any pair so pick one that has the range you feel comfortable with and align yourself with the strength of that particular day. There is little to no need to look towards the higher time frames for anything other then perhaps supply and demand zones.

The order flow changes between time frames so figure out what type of trader you are and develop an expectation for price to follow. If you have not seen my live streams and any of the videos on my channel on YouTube please do so. Also I will be hosting another live stream on Tuesday at 0900 est April 25. Try to make it so you can ask questions in real time as I trade the market live.
If you fail to plan, you plan to fail.
  • #27,848
  • Apr 19, 2017 5:44pm Apr 19, 2017 5:44pm
Thanks Damian, 25th April been in my calendar for a week or so and I am looking for for your live session
  • #27,849
  • Apr 19, 2017 5:52pm Apr 19, 2017 5:52pm
Quoting cititon
Pretty much the same entry on EUR/USD a bit tighter SL {image}
Worked as expected, a bit struggled at the start but after 3 1/2 hours in the trade hit TP and banked 160 pips. Thanks Mr. Pip
Attached Image
  • #27,850
  • Apr 19, 2017 6:50pm Apr 19, 2017 6:50pm
Quoting cititon
{quote} Worked as expected, a bit struggled at the start but after 3 1/2 hours in the trade hit TP and banked 160 pips. Thanks Mr. Pip {image}
Very nice!
  • #27,851
  • Apr 19, 2017 7:03pm Apr 19, 2017 7:03pm
Hi Damian and traders. Hope you can give your views on this-
While reviewing the trade I took last night, I noticed that the rotation which I earlier thought was good actually changed when I took a final screenshot after the close of the trade. Please take a look at the the rotation of the candle just after the trade was opened and take a look again after the trade was closed. I must say that my NinjaTrader did hang during the trade but after closing and reopening it, it worked fine. I don't really know if this was the reason for the different candles. Kindly let me know if you had the same experience before. This is the first for me.....
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  • #27,852
  • Apr 19, 2017 8:30pm Apr 19, 2017 8:30pm
Quoting Milfortra
Hi Damian and traders. Hope you can give your views on this- While reviewing the trade I took last night, I noticed that the rotation which I earlier thought was good actually changed when I took a final screenshot after the close of the trade. Please take a look at the the rotation of the candle just after the trade was opened and take a look again after the trade was closed. I must say that my NinjaTrader did hang during the trade but after closing and reopening it, it worked fine. I don't really know if this was the reason for the different candles....
I've posted about this before. Short answer - it's due to the way Ninja timestamps their tick data.

Annoying for going back to study PA and there's no way around it.

You can screenshot the true PA and save it for review before you change the symbol, change the timeframe, or shut down the platform.
  • #27,853
  • Edited 11:55pm Apr 19, 2017 10:29pm | Edited 11:55pm
Just heads up for my fellow traders especially who trades Euro on Fx market. Message from my broker



On 23rd April 2017, the French public will begin voting for a new president (http://www2.gomarkets.com.au/e/48072/french-elections-2017-/4zgzqg/248893147). Depending on the results, we could see the potential for further European political uncertainty. This event could have potential impact on market conditions and liquidity.
Due to my past experience during similar events where S/D zones, support/resistance lines or indicators are just not respected during these events. I will try avoid to trade Euro on that day.
  • #27,854
  • Apr 19, 2017 11:02pm Apr 19, 2017 11:02pm
Quoting Mr. Pip
{quote} The expectation is for a NSH however the buyers may not be as strong as they look. They should not have allowed the sells to push prace back below support over to the left and not you can see volume on the sellers off of that level. This may push price lower.
Ok thanks. What I am trying to get a hold of is HOW to determine market strength. You mention in the "putting it all together" video that the first step in the analysis is to determine who has strength (bears or bulls) - and I have read your words many times "align yourself with the strength of the day." So I am wondering exactly what to look for when determining if the bears or bulls are stronger. Am I looking for more volume? More consecutive strings of the same direction? I see from your reply that when price breaks a through an area of S/R, it indicates strength in that direction (relative to how much resistance was met). What else should I look for? Thanks.
  • #27,855
  • Apr 19, 2017 11:14pm Apr 19, 2017 11:14pm
Quoting jmezz
{quote} I've posted about this before. Short answer - it's due to the way Ninja timestamps their tick data. Annoying for going back to study PA and there's no way around it. You can screenshot the true PA and save it for review before you change the symbol, change the timeframe, or shut down the platform.
Thanks Jmezz for your reply. Have been missing your posting here lately. I do remember you saying that you are trying out something new but I hope that you will be able to visit here as often as possible to give your views of the charts. Thanks again and all the best!
  • #27,856
  • Apr 19, 2017 11:35pm Apr 19, 2017 11:35pm
Quoting Lundies10
{quote} Ok thanks. What I am trying to get a hold of is HOW to determine market strength. You mention in the "putting it all together" video that the first step in the analysis is to determine who has strength (bears or bulls) - and I have read your words many times "align yourself with the strength of the day." So I am wondering exactly what to look for when determining if the bears or bulls are stronger. Am I looking for more volume? More consecutive strings of the same direction? I see from your reply that when price breaks a through an area...
1) short term expectations

2) short term momentum, projection, depth

3) volume of the candles, and whether any opposing force present in the swing

it's all the same thing, just at a smaller timeframe.
  • #27,857
  • Apr 20, 2017 12:39am Apr 20, 2017 12:39am
Hi Milfortra,

Since you are in singapore, which broker do you connect Ninja trader to trade futures? I saw Phillips capital in their list. Are you using this broker? Thanks in advanced!
  • #27,858
  • Apr 20, 2017 1:01am Apr 20, 2017 1:01am
6J
What about a nice bull rotation on 61.8% for a NSH ?!
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There is no way to happiness , happiness is the way.
  • #27,859
  • Apr 20, 2017 1:37am Apr 20, 2017 1:37am
Quoting Ockham
6J What about a nice bull rotation on 61.8% for a NSH ?! {image}
nobody else took this trade ? was an easy +16 ticks @127.2% extension after a good rotation, unfortunately i mistake my ATM strategy between 6J and YM stopped be+2 better than nothing
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There is no way to happiness , happiness is the way.
  • #27,860
  • Apr 20, 2017 1:53am Apr 20, 2017 1:53am
6J seems it is better with the adequate ATM strategy +10 and +15 on AB=CD will not reverse but wait for YM NY open, now swimming pool time
Green pips all
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There is no way to happiness , happiness is the way.
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