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  • #301
  • Mar 12, 2009 5:51am Mar 12, 2009 5:51am
Quoting elitejets
BabaG - I want to be a warrior like you. Count me in.
I second that
  • #302
  • Mar 12, 2009 6:00am Mar 12, 2009 6:00am
  •  hansnl
  • | Joined May 2007 | Status: don't get shot trade small lots | 83 Posts
thanks for U strait forward reply Strat, luckely the system is only 10% and the psychology 90 as you stated earlier on.

If I keep only the essentials on my chart it looks like this:

http://i40.tinypic.com/bhb0hi.jpg

what I see on this daily is
a support/resistance /early January /early February /early march.
a realised 50% fib retracement.
a bounce of the daily 50
a bounce of drawn support line ( goes way back )

I think it has a good chance to travel north up to the daily 20 and maybe beyond.
any comments are welcome.
A+

hans..
  • #303
  • Mar 12, 2009 6:02am Mar 12, 2009 6:02am
Here you go, files attached, this all helped me.

Great videos in the guest area here: http://www.james16group.us/

Every kind of price action links you could ever want ... http://www.trading-naked.com/PriceAction.htm

Buffy simple price action list - http://www.dacharts.com/articles/Buf...ice_action.php

Nic
Attached File(s)
File Type: pdf price action.pdf   45 KB | 2,833 downloads
File Type: pdf PriceActionSetups.pdf   42 KB | 3,103 downloads
File Type: pdf James16_upto2ndofmay2008.pdf   44 KB | 8,548 downloads
File Type: pdf PA Decision Checklist v2.pdf   303 KB | 3,003 downloads
File Type: pdf Pin bars-introduction.pdf   67 KB | 1,875 downloads
File Type: pdf Pin bars-advanced.pdf   113 KB | 1,899 downloads
File Type: pdf Practical Fibonacci Methods.pdf   431 KB | 2,681 downloads
  • #304
  • Mar 12, 2009 6:29am Mar 12, 2009 6:29am
Quoting AstonDan
Here you go Bill:

http://www.forexfactory.com/showthread.php?t=27286

http://www.forexfactory.com/showthread.php?t=2331

Essential reading IMHO

Dan
Thanks Dan,
15min charts not doing much at the moment, so I'm getting busy on this stuff.
Honest Bill
  • #305
  • Mar 12, 2009 6:35am Mar 12, 2009 6:35am
Quoting Honest Bill
Thanks Dan,
15min charts not doing much at the moment, so I'm getting busy on this stuff.
No problem, although Nicola has posted some great PDF's so perhaps start with those and you'll cut out a lot of the 'noise' on Jim's thread.

Cheers
Dan
  • #306
  • Mar 12, 2009 6:35am Mar 12, 2009 6:35am
Quoting strat
....................I'm sorry this is not the answer you were looking for.

Rock n Roll,
Strat

Actually, Strat, your reply has cleared up a lot of stuff for me. I won't go into detail, suffice to say, I'll be here for the long haul.
Honest Bill
  • #307
  • Mar 12, 2009 6:38am Mar 12, 2009 6:38am
Quoting elitejets
Here you go, files attached, this all helped me.

Great videos in the guest area here: http://www.james16group.us/

Every kind of price action links you could ever want ... http://www.trading-naked.com/PriceAction.htm

Buffy simple price action list - http://www.dacharts.com/articles/Buf...ice_action.php

Nic
Thanks, Nicola,
I downloaded them as per Strat's previous post (See!, I was studying!!. I must admit, I got overwhelmed with the amount of info. But, as Strat pointed out, I won't learn it in an hour.

Okay, back to the books!
Honest Bill
  • #308
  • Mar 12, 2009 7:22am Mar 12, 2009 7:22am
Quoting Honest Bill
Hi, Strat,

.......Would it be possible to maybe show a few examples of actual trades with explanation of why it was taken, entry, stop loss and targets. (I know MM is different for everybody, but please, show for the purposes of learning).
Quoting strat
Glad you're here Honest Bill - ........Your request to put up a chart and show examples is exactly what I will NOT do at this stage. Why? Because that is the easy way out and more important, will not help you with this method. This is not like the Pimp Strategy or indeed any other requiring you to blindly follow a squiggly line. You have to learn what each single price bar is telling you, then what a group of price bars are telling you, then what a swing is telling you, etc, etc ALL within the boundaries of support and resistance........
Rock n...

Hi, Strat,
I just realised you may have misunderstood me. I'm not looking for a tipping service. I meant showing some old closed trades.

You see, I'm a degreed mechanical engineer too and without my P&ID, the operating manual can be hard to follow!!

Okay, back to the books!! (teacher's pet!)
Honest Bill
  • #309
  • Mar 12, 2009 7:23am Mar 12, 2009 7:23am
Thanks Nic...
  • #310
  • Mar 12, 2009 9:12am Mar 12, 2009 9:12am
Bloody hell - I go on a 6 hour train journey and you guys start having a ball without me! Maybe that's the answer - I need to disappear and leave you guys to it!

Rock n Roll,
Strat
15 YEARS OF PASR ON FOREX FACTORY!
  • #311
  • Mar 12, 2009 9:30am Mar 12, 2009 9:30am
Quoting strat
Hope you all had your sell order stops in place below the support line at 97.52

Rock n Roll,
Strat
Oh dear, how very disappointing!

I wrote this to PROVOKE A REACTION and as a test to measure how you lot were doing.

So no reaction tells me:

Nobody is reading
Nobody is understanding
Nobody has progressed to the level I was hoping for
Nobody cares
You are just following like sheep

Although there are a few things wrong with my statement, there is a HUGE problem.

Now that I've brought it to your attention (again), who can spot it?

Baba G - you are not allowed to answer on here but you can PM me if you wish

Rock n Roll,
Strat
15 YEARS OF PASR ON FOREX FACTORY!
  • #312
  • Mar 12, 2009 9:39am Mar 12, 2009 9:39am
Quoting elitejets
The first method of trading I learnt was using the 20ema and 50sma moving averages for every time frame, like a lot of guys on this thread.
I am still using them now while I learn rock and roll trading with Strat.
Even now on each chart I have I have those moving averages for the time frame I am looking at and the one above it.
The moving averages are great indicators of trend....
Thank you Queen of Darkness.

The only thing I would like to change is " If the 50 is above the 20 and the price is below them both then the trend is definitely down, and vice versa."

You have the logic spot on but the description is upside down. To make it more understandable, it would be better to say:

If the 20 is below the 50 ........... The 20 is the boss of the 50

Thanks again

I am assuming "The Sound of Silence" is now your signature tune .......Hello Darkness my old friend, I've come to visit you again..............

Rock n Roll,
Strat
15 YEARS OF PASR ON FOREX FACTORY!
  • #313
  • Mar 12, 2009 9:40am Mar 12, 2009 9:40am
Quoting strat
Oh dear, how very disappointing!

I wrote this to PROVOKE A REACTION and as a test to measure how you lot were doing.

So no reaction tells me:

Nobody is reading
Nobody is understanding
Nobody has progressed to the level I was hoping for
Nobody cares
You are just following like sheep

Although there are a few things wrong with my statement, there is a HUGE problem.

Now that I've brought it to your attention (again), who can spot it?

Baba G - you are not allowed to answer on here but you can PM me if you wish

Rock n Roll,
Strat
I don't trade USD/JPY but...
97.52 shows no significance on my charts other than resitance once back in November. Also, that trade would have been into the 20 EMA AND it would have been against the wider trend.

How did i do?
  • #314
  • Mar 12, 2009 9:42am Mar 12, 2009 9:42am
Hi strat, thanks for all the usefull info.

On the usdjpy the 20 and 50 BOSS are both pointed up.

Thanks again!
  • #315
  • Mar 12, 2009 9:43am Mar 12, 2009 9:43am
Quoting dkmb92
for both of your replies. i am not looking for a short-cut & i have put over a year of dedicated study into forex & i have not gone live yet (hoping to sometime this year). i can identify s&r & pa bar/candlestick signals (& how they are to be traded), but i would like to better learn how to identify whether price is going to bounce or breakout thru s&r as it approaches it. thanku.
I would also like to learn whether it is going to bounce or break through!

Stick with us, do your studying, throw up some charts with examples/questions and you'll make it.

Rock n Roll,
Strat
15 YEARS OF PASR ON FOREX FACTORY!
  • #316
  • Mar 12, 2009 9:51am Mar 12, 2009 9:51am
Quoting elitejets
When I switched trading methods the first most important thing I did was close my live (real money) account!! Being confused was costing me money and I went back to demo for quite a few weeks.

Then I downloaded read the J16 thread and Buffy's price action website several times! There is no short cut to this step ...
If you go to the J16 thread (and BIG THANKYOU to J16 ...) there are a list of file attachments you can download that include price action, price action set ups and fibonacci stuff. They are priceless. Also the videos in the guest area...
Thank you again Queen of Darkness!

Maybe I need to re-name this thread - "Strat's Clinic for Indicator Withdrawal"

Just like the other addictive stuff, the longer you use it, the more difficult it is to stop using it.

Nicola is amazing - she was making pips by the bucket load using an indicator based strategy but for some reason decided to drop it in favour of what we do here. A true shining example of what can be done if you set your mind to it.

Rock n Roll,
Strat
15 YEARS OF PASR ON FOREX FACTORY!
  • #317
  • Mar 12, 2009 9:53am Mar 12, 2009 9:53am
Thought I'de have a go at some of Strat's questions.

GBPUSD
The 20 & 50 are both down and the gap between them is widening. This would suggest a continuation of the down move. However there is very major resistance at 1.37ish which may cause a bounce and retracement. If it gets through that level.... who knows... (my data doesn't go down that far)

GBPCHF
20 has just crossed the 50 in a downward direction after a retracement. Expect downward movement to major resistance at 1.51ish.

USDCAD
We are in a retracement of the overall down move and are currently half way between the 50 and 61.8 fib levels. Price is also in a 2 week trading range between 1.275ish and major round number resistance at 1.3.
The 20 & 50 are both up and the gap between them is widening. This suggests that price will continue up, perhaps to the 61.8 fib level at about 1.35ish before continuing down.

Strat,
Your comments would be greatly appreciated.

Nicola & Baba G,
Great input to a great thread!
  • #318
  • Mar 12, 2009 9:54am Mar 12, 2009 9:54am
Quoting AstonDan
I don't trade USD/JPY but...
97.52 shows no significance on my charts other than resitance once back in November. Also, that trade would have been into the 20 EMA AND it would have been against the wider trend.

How did i do?
You could also argue that with price between Boss 20 and 50, it is 'boxed in' and unsure of direction.
  • #319
  • Mar 12, 2009 10:03am Mar 12, 2009 10:03am
Oh dear, how very disappointing!

I wrote this to PROVOKE A REACTION and as a test to measure how you lot were doing.

So no reaction tells me:

Nobody is reading
Nobody is understanding
Nobody has progressed to the level I was hoping for
Nobody cares
You are just following like sheep

Although there are a few things wrong with my statement, there is a HUGE problem.

Now that I've brought it to your attention (again), who can spot it?

Strat,

on my feed (ODL) I can't see 97.52 as any sort of S/R
  • #320
  • Edited 11:03am Mar 12, 2009 10:11am | Edited 11:03am
Well it was interesting that it bounced off that level for quite a few points (as you said it would) but maybe ... more importantly ... we were listening when you said to look to the 20 for what was really happening with UJ.
And when the price kissed and said hello to the 20 ma today we got to see what was really going on ...

I have that level clearly on my chart now and maybe next time something happens there it will be a tradeable set up.

Don't be disappointed, we all have our head in the books and the charts today.

Quoting strat
Oh dear, how very disappointing!

I wrote this to PROVOKE A REACTION and as a test to measure how you lot were doing.

So no reaction tells me:

Nobody is reading
Nobody is understanding
Nobody has progressed to the level I was hoping for
Nobody cares
You are just following like sheep

Although there are a few things wrong with my statement, there is a HUGE problem.

Now that I've brought it to your attention (again), who can spot it?

Baba G - you are not allowed to answer on here but you can PM me if you wish

Rock n Roll,
Strat
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