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Strat's Long Term Stress Free Trading

  • #1,641
  • Edited 12:37pm Apr 3, 2009 12:14pm | Edited 12:37pm
Quoting strat
?!?!?!?!?!?!?!?!?!?!?!?!!?!?!?!?!?!?!?!?!?!?!?!

Isn't this just what I said?
mmm... maybe, not sure if we understand each other will try to explain:

if someone is trading daily bars, but doesn't hesitate to take a trade on different time frame, for example weekly (he will be using 5 bars formation). The same if you take 48hours time frame: it will be one bar. (or trading 4H bars (formation of 4 1H bars)).

If I am trading daily and weekly chart patterns and going through daily ant weekly time frame looking for a good setup, wouldn't it be the same taking a look at 48H time frame?
Or do you think it is total worthless?
Hope it is more clear explained my way of thinking

Thank You for Your answers
  • #1,642
  • Apr 3, 2009 12:25pm Apr 3, 2009 12:25pm
Quoting Baba G

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

You can see im worried about him right?
I think your concern is admirable but I saw no problem with the loonie as the g20 were not out till after it did its thing. However it was not a slam dunk as I showed there was a better option that day. So keep on keeping him on the straight and narrow for
"blessed is he who in the name of charity and good will sheperds the weak through the valley of darkness for he is truely his brothers keeper and the finder of lost children."
GOD IS NOT SHORT OF CASH
  • #1,643
  • Apr 3, 2009 12:34pm Apr 3, 2009 12:34pm
LOL.......on my way pal
  • #1,644
  • Apr 3, 2009 1:51pm Apr 3, 2009 1:51pm
Hi Strat

Thanks for posting those sheets, it saves me having to re-do it all again. Some great posts, 45 ways, Money management etc whilst I've been away. I have alot of reading and learning to do over the weekend. Waiting to look at charts at close later, then I'll do my week-end review. Go easy on me when I post my thoughts - I'm a willing and learning and I know I have a long, long road to travel!! Thanks again Nicole
  • #1,645
  • Apr 3, 2009 1:52pm Apr 3, 2009 1:52pm
Hi Lance

Well what can I say, that website index is excellent - well done I will take more time over the weekend to catch up with it, Cheers, Nicole
  • #1,646
  • Apr 3, 2009 1:55pm Apr 3, 2009 1:55pm
Quoting Baba G
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?
On ODL my history for Brent crude only goes back to Feb07 and US crude Feb08. Its not the best, im looking around for better
  • #1,647
  • Apr 3, 2009 2:06pm Apr 3, 2009 2:06pm
Quoting parson
mmm... maybe, not sure if we understand each other will try to explain:

if someone is trading daily bars, but doesn't hesitate to take a trade on different time frame, for example weekly (he will be using 5 bars formation). The same if you take 48hours time frame: it will be one bar. (or trading 4H bars (formation of 4 1H bars)).

If I am trading daily and weekly chart patterns and going through daily ant weekly time frame looking for a good setup, wouldn't it be the same taking a look at 48H time frame?
Or do you think it is total worthless?...
OK. I see the point you are making. Personally, I don't think there is any merit it to it because you and maybe a couple of others would be the only people trading off that time frame. We need to piggy back on the backs of the big boys (banks, trading houses, funds, MMs) who trigger their trades from the Daily and Weekly time frames.
15 YEARS OF PASR ON FOREX FACTORY!
  • #1,648
  • Apr 3, 2009 4:12pm Apr 3, 2009 4:12pm
Quoting strat
OK. I see the point you are making. Personally, I don't think there is any merit it to it because you and maybe a couple of others would be the only people trading off that time frame. We need to piggy back on the backs of the big boys (banks, trading houses, funds, MMs) who trigger their trades from the Daily and Weekly time frames.
Hey Strat,
i totally take your point, about piggy backing on the big boys, so your correct in the lack of merit of this thinking, i wont be mentioning it again here mate,
cheers
geoff
  • #1,649
  • Apr 3, 2009 6:04pm Apr 3, 2009 6:04pm
Take a look at these two dojis - hanging man and hammer - see how the big boys play with the little guys (us).

The hanging man is debatable and could be the result of stop over runs but the second is definitely the MMs taking the little guys to the cleaners.

So let's see how they mess with us

If we were long and trailing our stop:
We would have our SL either below the previous green doji (minor swing low) and below the 20 or maybe below the red hammer and below the 20.

If we were looking to take a short position:
Some traders would have had their sell stop below the red hammer in anticipation of a sell off from a rounding top.

So, on March 30, the day of the long hammer, the MMs have seen the market orders piling up in front of them to take the Yen to 100, and decide that only they will play this game. Remember what Dr. Joe witnessed at CME? They are still playing the same games!

The MMs drive the price down to 95.95 to clear out all the long positions while at the same time filling the short positions. They cannot leave the price down at 95.95 because they know there are no sell orders at that level and also because it would trigger a false downtrend, so, between them, they take price back to where they started while at the same time picking up a few more buy orders from short term traders (scalpers) who see price going back up again.
Attached Image (click to enlarge)
Click to Enlarge Name: usdjpy apr03 09.gif Size: 20 KB
15 YEARS OF PASR ON FOREX FACTORY!
  • #1,650
  • Apr 3, 2009 6:34pm Apr 3, 2009 6:34pm
If USDJPY puts in a symmetrical ABCD pattern which it likes doing, we could see 106.12 so psycho 106.00!

Keep a close watch on price action to decide.
15 YEARS OF PASR ON FOREX FACTORY!
  • #1,651
  • Apr 3, 2009 8:35pm Apr 3, 2009 8:35pm
What is a symmetrical ABCD?
Bang.
  • #1,652
  • Apr 4, 2009 1:53am Apr 4, 2009 1:53am
[quote=parson;2650243]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.[/quote

Hello parson,

Multi-bar combos.....this is what your talking about...And i would say"steady on old chap".

There is room for them in the charting....but not for you, not yet.

First the bars must be read like a book and then you can see these things.

Individual bar reading is the key....focus on that.

forget about 48 hour pins ect...its not for you...trust me.....just learn price action......bar by bar the rest will flow......g
  • #1,653
  • Edited 3:21am Apr 4, 2009 3:07am | Edited 3:21am
When some valid Price Action forms, and an entry above the top of the PA candle with a stop below the low is to much, what are my options? I already know the one, just pass up the trade and find something else inside of your budget later. But is there another valid option? What if you are watching the next candle after the setup has been confirmed that is retracing, can you enter there at a price that would allow you to comfortably handle the trade? Here is a chart to illustrate.

http://img23.imageshack.us/img23/7348/eurusdh.gif

See the wick below today's candle? What if you entered at the market somewhere in that wick to get a better price? The PA has already been confirmed, we have a massive Bullish Engulfing Bar, as well as a nice Piercing Line forming on the weekly. It's just at a massive discount! I'm a bargain shopper.

PS - I have caught myself using BUOB and Bullish Engulfing Bar interchangeablely lately. Sorry guys, they are not the same thing, though they mean basically the same thing. You caught me on the last one on page 110, that was supposed to be Bullish Engulfing.
Bang.
  • #1,654
  • Apr 4, 2009 3:09am Apr 4, 2009 3:09am
Thanks Strat, thanks Baba G for your answers. I appreciate it
  • #1,655
  • Edited 5:41am Apr 4, 2009 5:06am | Edited 5:41am
can u find the bars i like?

i love them xxx
  • #1,656
  • Apr 4, 2009 5:44am Apr 4, 2009 5:44am
right i got a plan........

i have an entry....and i done all the math like a good boy......

if you can guess what it is you can have a "nice cuppa tea" award which is a highly coveted award in the industry let me tell you....
  • #1,657
  • Apr 4, 2009 5:47am Apr 4, 2009 5:47am
This award is not open to any member of the team with more that 5 years live trigger time.......they can make there own tea by now i think
  • #1,658
  • Edited 6:27am Apr 4, 2009 6:24am | Edited 6:27am
Hi Team
I'm checking my charts for a weekend round up and I like the look of the following, please feel free to comment as I am still learning....
EUR CHF
Weekly: Indecsion doji 3 weeks ago, price fell & PA bar hammer closed on 50% Fib retrace from 8/3/09 Sl to 15/3/09 SH bar closed above the Boss 20. retested old support 1.5050 and old resistance of 1.5250
Daily: IB also a morning star held by 20 and 50 MAs, did test Boss 20 twice during the week but both occasions closed above. New change of trend shows on Daily before Boss MAs crossed up 13/3.


Pros: small risk buying at a discount because of daily IB. Last 2 daily bars closed in major PPZ area 1.5250. Tested MAs and they have held. Boss Hammer bar medium size tail & confluence with Fib.

Cons: Hammer on Daily has a small tail. Boss MA 20- hooking up, Boss MA 50 still down.

Risk 70 pips
BUY 1.5285
SL 1.5215 below the base of the IB
T1 -15350
T2 - 15400
T3 - 15500
Attached Images
  • #1,659
  • Apr 4, 2009 7:42am Apr 4, 2009 7:42am
I would be looking for a good directional bar if anything on this pair.the boss and big boss arnt really singing out and the daily is mostly sideways of late leading me to want to see a directional bar at the very least before i get interested and then we still got the shizzer on the higher times frames.

So for me its a ...no thanks....hope this helps....,.g
  • #1,660
  • Apr 4, 2009 11:20am Apr 4, 2009 11:20am
Quoting AminAS
What is a symmetrical ABCD?
When AB = CD - see chart
Attached Image (click to enlarge)
Click to Enlarge Name: usdjpy apr03 09 ab = cd.gif Size: 23 KB
15 YEARS OF PASR ON FOREX FACTORY!
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