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  • #21,681
  • Aug 31, 2019 12:11pm Aug 31, 2019 12:11pm
Quoting civilpes2001
{quote} Hi there, Short and precise rules. One question though --- how to get confirmed HH or LL?

May be first learn what is CONFIRMED swing high or low
Focus, Patience, Discipline, Determination and Perseverance
  • #21,682
  • Oct 29, 2019 9:38pm Oct 29, 2019 9:38pm
Another one from my collection of Strat's wisdom:

NEVER, EVER BE THE GREATER FOOL!

There are many reasons why they ALWAYS enter at the wrong time: lack of knowledge, lack of trading experience, lack of funds, lack of training etc but it ALWAYS comes down to our LITTLE PEOPLE!

The Little People fill you with FEAR and GREED at the same time.

From memory, it goes something like this:

I see price rising but it won’t go any higher so I’m not buying.

Now price has gone higher and I’ve missed my chance and it definitely isn’t going any higher so I’ll wait.

Well its gone higher again but it can’t continue like this so I’m going to look to sell.

Wow, its gone higher still; maybe this is the beginning of a huge trend – if it goes up again, I’m buying.

Yup, its gone up again just as I thought so I’ve put my buy order in.

Great, I’m finally in profit – I knew I could trade!

Hah Hah, I’m going to be rich beyond my wildest dreams – pretty soon I will be able to tell my boss where to stick it!

WHAT! Its gone down, now I’m in a loss. What to do? I’ll hold on and HOPE and PRAY it goes higher

Oh no, its gone down again and now my SL has been hit and I’m out with a loss that I HOPED I wouldn’t have.

Its gone down again but it should turn round and when it does, I’m going to buy back again to get my money back.

Down again but it will turn around soon and then we will be able to make some money.

OK, its stopped going down now so I’m not waiting, I’m buying here.

Well my stop order wasn’t filled so I didn’t get it right but I’ll get it right next time.

Gee, its gone down again, I didn’t think it could go any lower, I’ll wait for another place to buy.

How can it go down again? How much lower can it get? Its definitely getting near the time to buy!

What? Its gone down yet again! Ah yes, the trend has changed to down. If it goes down again tomorrow, I’m going to sell.

Yes, got it right, its down again! I’ve put my sell order in and I’ll make all my money back.

Way to go! Down again and we are in big profit. When it gets down to 1.5555, I will have made $679 – then I can go and buy a new iPad 2!

What, price has pulled back! Don’t worry, it will be alright. Just hang tight.

OH NO! How can it be, my SL has just been taken out and I have lost again!

Or something like that..........................

The bottom line is Joe Public and the rookies and amateurs are ALWAYS buying and selling at EXACTLY the wrong time.

Instead of buying at the beginning of Phase 2, they buy at the end of Phase 2 or even Phase 3.

Instead of selling at the beginning of Phase 4, they sell at the end of Phase 4 or even Phase 1.

How many times have you done this?

How do we trade the swings without getting caught up with the Little People and the FEAR and GREED emotions?

I have my own way of swing trading and while its not perfect (nothing in trading is), it is very profitable – IF you know what you are doing.

Your understanding of PASR and seeing beyond the candles will give you the foundation for swing trading. You should be able to recognize momentum, see a trend slowing down, see exhaustion, see indecision etc, etc.
  • #21,683
  • Dec 23, 2019 5:43pm Dec 23, 2019 5:43pm
Merry Christmas and happy New Year everyone.

Greeting from Corinna
  • #21,684
  • Dec 24, 2019 4:21am Dec 24, 2019 4:21am
Quoting Corinna
Merry Christmas and happy New Year everyone. Greeting from Corinna
Merry merry Christmas!

Say it with heavy metal
Inserted Video
  • #21,685
  • Edited 10:52am Feb 10, 2020 10:38am | Edited 10:52am
A lot has changed since 2009. The markets no longer trend as strongly as they used to but appear to be more chaotic, as more and more bots have flooded the market. There is also a lot of uncertainty in the Forex market these days. Much of the stuff that used to work either no longer works or has become less effective.

You appear to be a trend trader. Would you say your strategy has become less effective? What measures have you taken to deal with market changes over the years? How are you doing in the market of 'today'?
Learn from your mistakes and march on.
  • #21,686
  • Feb 10, 2020 1:01pm Feb 10, 2020 1:01pm
Quoting here2there
A lot has changed since 2009. The markets no longer trend as strongly as they used to but appear to be more chaotic, as more and more bots have flooded the market. There is also a lot of uncertainty in the Forex market these days. Much of the stuff that used to work either no longer works or has become less effective. You appear to be a trend trader. Would you say your strategy has become less effective? What measures have you taken to deal with market changes...
a lot of people say they sort of thing, they were saying it in 2009 too. But I don’t see any changes in the markets. I’ve pulled up charts back to the 1920s and don’t see any changes in particular. They were and are totally tradeable
Learn the support/ resistance, get an idea of trend, understand candle formations. And away you gonna, trade what is tradeable, .....always use stops. Always. Your capitals is your lifeline even more than your technique
If you can wait and not be tired by waiting...
  • #21,687
  • Feb 10, 2020 1:53pm Feb 10, 2020 1:53pm
Quoting glyder
{quote} a lot of people say they sort of thing, they were saying it in 2009 too. But I don’t see any changes in the markets. I’ve pulled up charts back to the 1920s and don’t see any changes in particular. They were and are totally tradeable Learn the support/ resistance, get an idea of trend, understand candle formations. And away you gonna, trade what is tradeable, .....always use stops. Always. Your capitals is your lifeline even more than your technique
I'm not saying the markets aren't "tradeable." The point I am making is market conditions have changed. This is a fact. And when market conditions change, certain ways of trading the market can become futile or less effective. Thus, a change has to take place in the mindset of the trader and his approach to the market. It may mean he has to give up certain aspects of a favorite strategy or even the whole strategy itself, because it no longer returns the the gains it once did when market conditions were ripe with what was necessary to make it fruitful.
Learn from your mistakes and march on.
  • #21,688
  • Feb 10, 2020 10:28pm Feb 10, 2020 10:28pm
Quoting here2there
{quote} I'm not saying the markets aren't "tradeable." The point I am making is market conditions have changed. This is a fact. And when market conditions change, certain ways of trading the market can become futile or less effective. Thus, a change has to take place in the mindset of the trader and his approach to the market. It may mean he has to give up certain aspects of a favorite strategy or even the whole strategy itself, because it no longer returns the the gains it once did when market conditions were ripe with what was necessary to make...
maybe, I’ve not really encountered that. I see the same old things happening in the markets.
If you can wait and not be tired by waiting...
  • #21,689
  • Feb 10, 2020 10:45pm Feb 10, 2020 10:45pm
Quoting here2there
{quote} I'm not saying the markets aren't "tradeable." The point I am making is market conditions have changed. This is a fact. And when market conditions change, certain ways of trading the market can become futile or less effective. Thus, a change has to take place in the mindset of the trader and his approach to the market. It may mean he has to give up certain aspects of a favorite strategy or even the whole strategy itself, because it no longer returns the the gains it once did when market conditions were ripe with what was necessary to make...
This I think depends on your “view” of the market.
If you are trading using indicators and/or any form of automation then the conditions will shift because nothing is fixed. The market volume at levels and time periods is not mechanical.

Buying and selling anything in a global market will always be dynamic but wherever there is a need for someone to buy and someone to sell there will always be a level or area that this needs to take place. This area is always matched by a timeframe that this needs to be accomplished by.

That’s all there is to it.
Private Msgs are turned off to weirdos, loafs and brain drainers
  • #21,690
  • Feb 21, 2020 12:43pm Feb 21, 2020 12:43pm
I believe that people are the market.

The market is presenting pure information only. People's mindset is changing same as market.
  • #21,691
  • Feb 26, 2020 8:59am Feb 26, 2020 8:59am
Just completed another in depth read of this old thread and once again it was well worth the effort.

Regards
Pete
  • #21,692
  • Feb 27, 2020 12:23pm Feb 27, 2020 12:23pm
I have finished reading the thread for the first time. I ve been trading with PASR based on the pdf for 4 months and still BE. I have found answers for most of my questions.

i cant thank you enough STRAT, hope you get paid back for all you did for others. Blessings
  • #21,693
  • Edited Mar 20, 2020 3:29am Mar 19, 2020 4:32pm | Edited Mar 20, 2020 3:29am
Well, I'm reading the thread these days, let's see..
  • #21,694
  • Apr 19, 2020 6:52pm Apr 19, 2020 6:52pm
Not so much to add to the discussion of risk reward and stops, but this morning I had a excellent example of the sort of setup I look for. This is the one minute chart, but it apply to all time frames. Beautiful clear first pull back.

EDIT: whoops. Meant to post this in the new thread.
Attached Image (click to enlarge)
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  • #21,695
  • Sep 27, 2020 10:46pm Sep 27, 2020 10:46pm
Good day

Any students still reading this thread please comment from time to time. Let's ensure that Strat's legacy continues...

Regards
Pete
  • #21,696
  • Sep 28, 2020 1:34am Sep 28, 2020 1:34am
Let's hope his legacy continues! Do not let this thread go to oblivion due to inactivity!
Green pips to all!
You attract what you think in any area of life, relationships and trading!
  • #21,697
  • Sep 28, 2020 2:46am Sep 28, 2020 2:46am
This is an entry that looks good to me. But I had a reason not to take it.
1H: BRN rejection price (1.28000)
4H: The candlestick has not yet closed above resistance.
(Am I in monologue?)

4H
Attached Image (click to enlarge)
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1H
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD1H.png Size: 69 KB

Best regards
Sanji
  • #21,698
  • Sep 28, 2020 8:07am Sep 28, 2020 8:07am
Seeing COT sometimes it is easy to guess long short, here can someone help witht he valuation GU, GJ, GZ, NZDCHF, UCHF, NZDUSD, NZDCHF ? Thanks
Attached Image(s) (click to enlarge)
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  • #21,699
  • Sep 30, 2020 1:46am Sep 30, 2020 1:46am
Quoting ntk
Seeing COT sometimes it is easy to guess long short, here can someone help witht he valuation GU, GJ, GZ, NZDCHF, UCHF, NZDUSD, NZDCHF ? Thanks {image} {image} {image} {image} {image}
wtf is all this ?
  • #21,700
  • Jan 5, 2021 10:03am Jan 5, 2021 10:03am
Happy New Year
There is Light at the End of the Tunnel.
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