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Strat's Long Term Stress Free Trading

  • #1,621
  • Apr 2, 2009 11:32pm Apr 2, 2009 11:32pm
Quoting strat
I don't bother with this pair normally. Yes, much cleaner charts and you will hit resistance at psycho 1.5400 but there is no price action to trigger a trade. Those two candles "off the bounce" just cancel each other out so they don't tell me anything

For my method, trend lines should be drawn from a swing close or meaningful support or resistance close
I'm a learner with a capital L.
Read your great threadfrom the start.
Wouldn't those 2 bars form a 2 day pin/hammer?
  • #1,622
  • Apr 2, 2009 11:32pm Apr 2, 2009 11:32pm
Quoting strat
Those two candles "off the bounce" just cancel each other out so they don't tell me anything
I'm pretty sure those two candles form the Piercing Line formation, which is medium to high reliability when compared against other patterns. I know you know all this stuff and choose not to use it, I am not trying to correct you.

USD/JPY closed above those candle highs resistance Strat, so I think longs off the top with stops below the inside bar are the next move. Today's candle also closed out a BUOB, to further support this conclusion. What do you think?
Bang.
  • #1,623
  • Apr 2, 2009 11:45pm Apr 2, 2009 11:45pm
I have a correction to make on my USD/JPY analysis. Firstly, the candle I called an inside bar was not an inside bar, just a spinning top. Secondly, we need a real close above 100 before any long entries should be set. I guess you could have entries set now if you were an aggressive trader.
Bang.
  • #1,624
  • Apr 3, 2009 3:12am Apr 3, 2009 3:12am
Stress free trade cad yen. Don't try this at home if you are a newb (correlation)but maybe interesting for some more relaxed older folks.
Bullish outside bar DJI
Bearish pin Loonie
Inside 4 bar Cad Yen.

Carry looking bullish altogether ej out for obvious reasons, loonie bit iffy (despite the result) but cad yen too easy .. think about it...I hear some fundamentalist doubt in your minds...I think stress free trading needs to include making money

Pretty obvious that g20 would capitulate what choice do they have....
Credit crisis eases, New world order all over the headlines...Welcome to hell folks ,if I was in the U.S I would be very anxious. This thing probably ongoing as another trillion just appeared out of nowhere.

Once stress is removed there is no news and the news only serves to add to the certainty.
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GOD IS NOT SHORT OF CASH
  • #1,625
  • Edited 3:51am Apr 3, 2009 3:37am | Edited 3:51am
Quoting AstonDan
Nope, wouldn't know what one looked like if it bit me...
This has been bugging me all night Dan.......

On the one hand im proud of you and happy but im worried.....why?

This is a dangerous time for you..can u see why bro?

now you have had a taste the real work begins....

Ruthless attention to detail on your bar formation.

Unfaltering adherance to your plan

110% certainty in risk profile.

CONSISTANCY>>>>>>>>

This is the most important thing i have to tell you.

You must only have one master.If it is my style you like it needs to be the only thing you do.....cause only then will you practice consistancy and be able to refine your plan and risk.......if you do that single minded,one system for one year demo from NOW......

you will rise up on eagles wings and i might give you a job........g
  • #1,626
  • Apr 3, 2009 3:50am Apr 3, 2009 3:50am
Yes yes yes.....thats the shizzer.......

My commrade at arms Swami S just laid out a beautiful selection of price bars.....

So glad your getting invovled bro OSGN.

Dude im gonna open the scopes like we talked about and get into other markets.Elitejets is gonna help you in?

I know your V V V busy with your work on the J16 private forum but when you get a chance join in.........i miss you bro

ITS TINKLE TIME!!!!!!
  • #1,627
  • Apr 3, 2009 4:00am Apr 3, 2009 4:00am
Saying that you know my views trading on big news days....its not for me.

Not now not ever.......but thats just me...........g
  • #1,628
  • Apr 3, 2009 4:01am Apr 3, 2009 4:01am
Quoting Baba G
This has been bugging me all night Dan.......

On the one hand im proud of you and happy but im worried.....why?

This is a dangerous time for you..can u see why bro?


you will rise up on eagles wings and i might give you a job........g
Overconfidence, arrogance, igonorance? All of them i imagine BG!

I make no secret of the fact that i'm learning a lot EVERYDAY and i'm at the BEGINNING of my path. I don't think i know all the answers which is why i post a lot of charts and ask a lot of questions. I post my winners AND my losers on here (if they fit within Strat's terms that is).

USDCAD was a great trade for me, but look at my CHFJPY - tanked! Why did i hold it soooo long when it was obvious the momentum had gone from the move on Tuesday. 'Cause i'm stooopid brother! (but i'm getting a little less stooopid everyday)

I Googled Black Swan last night and all i got were the addreses of various pubs in the UK! Can you enlighten me...

I was tempted to type, "i've got where i am...etc etc" , but i stopped because i am NOWHERE yet, i know this so please don't think i'm going to get carried away. In three months i'll evaluate my journal and see whether its worth putting a small amount of cash on the line, or demo for another three months before evaluating again.

I know you say pick one style and stick to it, but i'm keen to try a mix of long term stuff, ala Strat, and shorter term stuff, ala DAILY PA with 4H management. I would like to think this is possible but as always, more than happy to be corrected.

Thanks for all your help this week BG

Cheers
Dan
  • #1,629
  • Apr 3, 2009 4:15am Apr 3, 2009 4:15am
SEE i knew were gonna say that about mixing it up.......I say NO.

Keep your entry criterion the same time and time again...its the only way.

Look i think you got what it takes but do you have the disipline not to be a jack of all trades but a master of one?

Right from now on i will only post after my trade is done...other wise i may distort you charting.I have shown and proven my way,dont need to keep doing it......Dont think im abandoning you but if i dont do this you will suffer...........g
  • #1,630
  • Apr 3, 2009 4:25am Apr 3, 2009 4:25am
Quoting Baba G
Dude im gonna open the scopes like we talked about and get into other markets.Elitejets is gonna help you in?

Def. Bosses sitting up all over. Beloved gj too.
Energy, stocks and more.

p.s. come over for nfp and have a giggle i am registered for waynes live trade(death)nfp.
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GOD IS NOT SHORT OF CASH
  • #1,631
  • Apr 3, 2009 4:45am Apr 3, 2009 4:45am
NFP DEATH TRADING....im in...... be over later for nice cuppa tea.

Swami Check out Astondans USD/CAD.......did i tell him the right thing?

You can see im worried about him right?
  • #1,632
  • Apr 3, 2009 8:02am Apr 3, 2009 8:02am
BABA G = SAGE

Listen to the man folks.

(and thanks again BG)

Dan
  • #1,633
  • Apr 3, 2009 11:03am Apr 3, 2009 11:03am
Quoting walb99
If this supportline breaks, it will be a major event.
Regards
If these weekly and daily candles close the way they are looking then Im going to say you are right ...
Looking very bearish indeed.
  • #1,634
  • Apr 3, 2009 11:32am Apr 3, 2009 11:32am
i got ODL but wheres the history...i got a 3 month demo....but the history thats no good.

I sent them a mail.Its not the same on the live server is it?

cant do demo on limited history......i mean who are they kidding right?
  • #1,635
  • Apr 3, 2009 11:33am Apr 3, 2009 11:33am
Quoting wooli
I'm a learner with a capital L.
Read your great threadfrom the start.
Wouldn't those 2 bars form a 2 day pin/hammer?
I don't use 2 bars to try and form a bar you are looking for. The last bar represents the latest market sentiment whereas the previous bar is history.

Why stop at 2 bars? Why not use 3 bars or 4 bars? - you can use any mixture and combination of bars to give you the picture you are looking for BUT the last bar is the only true representation of what the buyers and sellers did.
15 YEARS OF PASR ON FOREX FACTORY!
  • #1,636
  • Apr 3, 2009 11:45am Apr 3, 2009 11:45am
Quoting strat
I don't use 2 bars to try and form a bar you are looking for. The last bar represents the latest market sentiment whereas the previous bar is history.

Why stop at 2 bars? Why not use 3 bars or 4 bars? - you can use any mixture and combination of bars to give you the picture you are looking for BUT the last bar is the only true representation of what the buyers and sellers did.
I think he meant this about using 2 bars:
if you take 48 hours bar, so it would be like joinig 2 daily bars.
For example take four of 1hour bars and you have one 4H bar.
  • #1,637
  • Apr 3, 2009 11:46am Apr 3, 2009 11:46am
Quoting AminAS
I'm pretty sure those two candles form the Piercing Line formation, which is medium to high reliability when compared against other patterns. I know you know all this stuff and choose not to use it, I am not trying to correct you.

USD/JPY closed above those candle highs resistance Strat, so I think longs off the top with stops below the inside bar are the next move. Today's candle also closed out a BUOB, to further support this conclusion. What do you think?
Not a BUOB on my data. USDJPY is now at the magic number 100 resistance we have been forecasting for weeks. There is no price action to suggest a trade either way so for me it's look elsewhere.

You have to be careful with USDJPY - there is a lot of intervention from BOJ (as I keep posting) and you need to piggy back on their moves - let's wait for them to show their hand first.
15 YEARS OF PASR ON FOREX FACTORY!
  • #1,638
  • Apr 3, 2009 11:52am Apr 3, 2009 11:52am
The "Black Swan", is the code name the guys on the ship Odyssey used to identify a sunken trove of Spanish treasure. You could say its like the motherload payout for treasure hunters! PS - Saw that on TV.

Dan, I love ya bro. Stick with us faithfully, you don't need to take your profits from here and give them away on the 4 hour. I'd like to say its easy to just go cold turkey, but you will probably have to lose big time before you finally drop it... I might have a relevant story.

I had one week a while back where I had entered in a longer term trade that was sitting on a lot of equity. It was a good call. I felt so great having this big winner that some little trades on the 1 hour and 4 hour would be a fun way to pass the time (That's all they ever are!). My thoughts were that I had so much equity in the big one, little losses or profits wouldn't really affect anything.

I started opening up trades. I did the worst thing. I picked 4 currencies: GBP/JPY, GBP/USD, EUR/USD, and EUR/GBP -- opened up longs on the first three, and then a short on EUR/GPB (What could be wrong with that...).

If you are paying attention, you would have realized that those were all correlated in the same direction! (EUR/GBP depending on the occasion...)

I was in position sizes way too big, mind you I shouldn't have ever been in them in the first place, with tight stops. My thought was that if they all just took off I would be rich! No worries right, until all positions went against me! They were all correlated so one wrong mistake slapped me four times!! The stops were all activated and half my equity from the big guy was given back to the market.

I was so angry I did it again!

So there I am, in a proud winner that I needed to close just to break even... What a waste.
(Dan, do you want this to be you? I don't)
Bang.
  • #1,639
  • Apr 3, 2009 11:59am Apr 3, 2009 11:59am
Quoting parson
I think he meant this about using 2 bars:
if you take 48 hours bar, so it would be like joinig 2 daily bars.
For example take four of 1hour bars and you have one 4H bar.
?!?!?!?!?!?!?!?!?!?!?!?!!?!?!?!?!?!?!?!?!?!?!?!

Isn't this just what I said?
15 YEARS OF PASR ON FOREX FACTORY!
  • #1,640
  • Apr 3, 2009 12:14pm Apr 3, 2009 12:14pm
Quoting AstonDan
BABA G = SAGE


Dan

Sweet Jesus, please, I have to deal with this dude on a daily basis .Its hard enough working with a Demi-God , now sage, holy moly . I'll just keep making make a nice cups of tea for the great One, should he deem to visit me in my hovel.
GOD IS NOT SHORT OF CASH
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