Strat's Long Term Stress Free Trading | Page 85 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Strat's PASR Long Term, Stress Free Trading 18,592 replies

M5 PASR Trend Trading Strat 95 replies

What you need for trading: indis, a strat & good music 27 replies

Another way to stress free, mechanic long term trading 29 replies

Short Term / Medium Term / Long Term? 3 replies

Attachments: Strat's Long Term Stress Free Trading
Exit Attachments

Strat's Long Term Stress Free Trading

  • #1,681
  • Apr 5, 2009 10:27am Apr 5, 2009 10:27am
Quoting strat
The BOSS has put in an unconfirmed swing low with upward momentum and support from the 20

The Daily has put in an IB or "pause" bar. A buy stop above the IB high should get us some pips but how many? The down sloping TL is at 1.3550 and major resistance at 1.3650 or maybe a touch of previous highs at 1.3750ish.

Should be worth 150 pips or so.
I like this one a lot. I see the hammer as a continuation ... and it looks set to break the upper trendline depending on if you draw it on the closes or the tails.
Nicola
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd nic.gif Size: 16 KB
  • #1,682
  • Apr 5, 2009 10:35am Apr 5, 2009 10:35am
Thats why shes my girlfriend........we share a love of price action...

but i dont like the fiber cause the boss and big boss cous cous.....i can wait for something a little more harmonious.....
  • #1,683
  • Apr 5, 2009 10:37am Apr 5, 2009 10:37am
Is a weekly trade freestyle? if so how?
  • #1,684
  • Apr 5, 2009 10:48am Apr 5, 2009 10:48am
Quoting Baba G
Is a weekly trade freestyle? if so how?
Hi G-Man,
What i meant was on the ones that stand out to me for direction, i can't see a clear set up on daily, so its possible to place an entry confident in its direction, but without much PA to justify it. But then again, i could be missing the point!

I know you have said it's not euro swissy, but the more i look at it, the more i like it...
  • #1,685
  • Apr 5, 2009 11:11am Apr 5, 2009 11:11am
"You only ever trade yourself"
I want to share something with you that has nothing to do with trading BUT has everything to do with trading.....WHO YOU ARE,WHAT YOU BELIEVE and ultimatly YOUR DESIRES.

Over the last 100 years or so we as a race have been led to believe that "happiness"is only achieved when our desires have been satisfied.

Rather than "happiness" being a clear and open mind to follow our intuition and complete whatever we turn our minds to,to the best of our abilities.

As the former is only "happy" when the desired outcome is achieved,the latter finds happiness simply in the persuit of open minded perfection.

It is the latter which is the bedrock of trading.

Dont trade your desires,trade price.
Dont be "sad" when you lose,look at your trading plan.
Dont be "happy" when you win,take comfort at a plan well managed..or..not.

Its like the great big icecream cone in the sky on a hot hot day,after you always need a glass of water right?....anyway just a thought......g
  • #1,686
  • Edited 11:29am Apr 5, 2009 11:15am | Edited 11:29am
Quoting Bloom
It must be a test for us. I see no short on USDCAD. It is just above the weekly 20 and I have a upward trendline there too. I would be looking for PA in this area to show me the way.
Hi Bloomie!
I got too married to my CAD long last week but I'm being sensible this week.
The weekly is very bearish and the break of this lower trendline, the 1.22 support and the BOSS 20 is a great trade IMO
Nicola
Attached Image(s) (click to enlarge)
Click to Enlarge Name: cad wkly nic.gif Size: 14 KB
Click to Enlarge Name: cad daily nic.gif Size: 19 KB
  • #1,687
  • Apr 5, 2009 11:19am Apr 5, 2009 11:19am
Quoting Baba G
"You only ever trade yourself"
I want to share something with you that has nothing to do with trading BUT has everything to do with trading.....WHO YOU ARE,WHAT YOU BELIEVE and ultimatly YOUR DESIRES.

Over the last 100 years or so we as a race have been led to believe that "happiness"is only achieved when our desires have been satisfied.

Rather than "happiness" being a clear and open mind to follow our intuition and complete whatever we turn our minds to,to the best of our abilities.

As the former is only "happy" when the...


(i told you he was a Sage)
  • #1,688
  • Apr 5, 2009 11:55am Apr 5, 2009 11:55am
Quoting Baba G
"You only ever trade yourself"
I want to share something with you that has nothing to do with trading BUT has everything to do with trading.....WHO YOU ARE,WHAT YOU BELIEVE and ultimatly YOUR DESIRES.

Over the last 100 years or so we as a race have been led to believe that "happiness"is only achieved when our desires have been satisfied.

Rather than "happiness" being a clear and open mind to follow our intuition and complete whatever we turn our minds to,to the best of our abilities.

As the former is only "happy" when the...
Have you read Eckhart Tolle?
He teaches the principles that you just talked about

Happiness can only be achieved in the present, that is you should not think about the future or the past, instead focus and embrace the present moment because that is all that ever really exists.

Also, your emotions and general thinking or ramblings that go on in you head are very negative aspects of you ego, so you have to put an effort to clear them out and then you will be much more aware of the present moment and you will be able to act much more effectively.

This can really be applied to trading - When trading, focus on the decision at hand, don't think about how much money you might make or anything else, if you are actually focused on the present moment you will be able to make much better trading decisions because they wont be clouded by the thoughts of your mind.
  • #1,689
  • Apr 5, 2009 12:22pm Apr 5, 2009 12:22pm
Naws...

No i have not read his stuff but i have heard alot about him.

The differance for us as traders is that unless we are happy with open minds we wont see the wood for the trees........which might prove expensive.
  • #1,690
  • Apr 6, 2009 11:20am Apr 6, 2009 11:20am
Quoting geoffrod
Hi Strat,
i was looking at the cad thinking it might be time to get out as it is about to run into the boss20 ??? and as you mention under that is the 1.2200 level as well, i take it from your comment that the boss20 isn't main road block in your eyes and wondered why?

cheers
geoff
It had already closed below the BOSS 20 when I wrote it, Geoff. The 1.2200 keeps showing up as very significant support
15 YEARS OF PASR ON FOREX FACTORY!
  • #1,691
  • Edited 12:11pm Apr 6, 2009 12:09pm | Edited 12:11pm
On Friday it appeared the thread had died which is understandable for a week where we had March futures expiring, options expiring, fiscal quarter end, G20 meeting and NFP. A very dangerous week to trade. Those that traded during this week should count themselves lucky they did not experience losers. Once you have been burnt by the outcomes of these type of weeks, you learn not to Play With Fire (Rolling Stones 1965).

So what to do? Let's see if we can shake things up a bit! Not many real opportunities so let's throw up some half baked trades to see what happens.

Our young studs (Amin and Naws) were the first to rebel followed by Bloom and Grimweasel. Congratulations - these were not "Strat" trades - but the type of trades people take when they have half the information, or feel "trigger happy" or feel they "know it all". There was no price action to trigger any trades. (Yes they did work out but with HIGH RISK and you had to know what you were doing to come out with a profit)

It is very pleasing to see these guys really read, learn and understand and makes everything we do on here seem worthwhile. I'm really proud of you and those that recognised these trades as "bogus".

So for this, we need to make some awards:

AMIN:
1 bronze pick for knowing these were not "Strat" trades
1 bronze pick for persistence with Engulfing vs Outside Bar

NAWS:
1 bronze pick for knowing these were not "Strat" trades

BLOOM:
1 bronze pick for knowing these were not "Strat" trades AND the DISCIPLINE excercised in not taking a "revenge" trade.

GRIMWEASEL:
1 bronze pick for knowing these were not "Strat" trades AND giving me the idea to publish "rubbish trades for lurkers" as I had never thought of that.

For those that recognised but didn't post - maybe next time you should post.

You guys are getting to know me TOO well - I need to re-think my test strategy!

Lance - trust you will issue the logos for the guys - guys, PM Lance (rogueforex) with your email address so that he can send you your logos for your signature
15 YEARS OF PASR ON FOREX FACTORY!
  • #1,692
  • Apr 6, 2009 12:29pm Apr 6, 2009 12:29pm
Quoting FxPippy
Hi Team Strat, this is my take on some of the pairs. Remember I'm learning..so to any lurkers out there don't take it as read! I'm possibly way off the 'tracks'! Comments appreciated.... Thanks, Nicole.

AUD USD
[font=Verdana]Weekly: BUOB forming & broken 20 hit Major R at 0.7100; noted MAs grouping; Head and shoulders formed. 20 MA hooking up but all other 3 MAs clustered tightly and down. This price is at the top of a weekly trending area between 0.7100 and 0.6300 (since end of last year and...
Good analysis and conclusions, Nicole. Don't worry too much about the 20 "pointing up or down" - be more aware of where price is relative to the 20.
15 YEARS OF PASR ON FOREX FACTORY!
  • #1,693
  • Apr 6, 2009 12:31pm Apr 6, 2009 12:31pm
Quoting strat
Good analysis and conclusions, Nicole. Don't worry too much about the 20 "pointing up or down" - be more aware of where price is relative to the 20.
No pick for the lovely Nicole...
  • #1,694
  • Edited 12:39pm Apr 6, 2009 12:34pm | Edited 12:39pm
Quoting elitejets
I like this one a lot. I see the hammer as a continuation ... and it looks set to break the upper trendline depending on if you draw it on the closes or the tails.
Nicola
Nicola, as per my "bait" post, the TL should be drawn from the Dec 08 closes to the most recent closes to identify the target. EURUSD likes to obey TLs.

And, the "hammer" at the end of an uptrend is a "hanging man"!
15 YEARS OF PASR ON FOREX FACTORY!
  • #1,695
  • Apr 6, 2009 12:49pm Apr 6, 2009 12:49pm
Quoting strat
On Friday it appeared the thread had died which is understandable for a week where we had March futures expiring, options expiring, fiscal quarter end, G20 meeting and NFP. A very dangerous week to trade. Those that traded during this week should count themselves lucky they did not experience losers. Once you have been burnt by the outcomes of these type of weeks, you learn not to Play With Fire (Rolling Stones 1965).

So what to do? Let's see if we can shake things up a bit! Not many real opportunities so let's throw up some half baked trades...
Done; everyone please PM or email me at [email protected]. I will update the site this afternoon and email out the new signatures. Thanks
  • #1,696
  • Edited 2:14pm Apr 6, 2009 1:06pm | Edited 2:14pm
As Amin so rightly persisted, there IS a difference between an OUTSIDE BAR and an ENGULFING BAR.

To act on an Outside bar, the high and low must be completely outside the previous bar with the close being higher than the previous bar for a BUOB or the close being lower for a BEOB.

To act on an Engulfing bar, the engulfing BODY must be outside that of the previous bar's BODY with the close being higher than the previous bar for a BUEB or the close being lower for a BEEB. An engulfing bar does not require the high and low to be higher or lower.

See attached chart where ONLY engulfing bars have been numbered.

As always, Outside and Engulfing bars are sensitive to where they are in price and can mean reversal, continuation or nothing so do a thorough analysis before acting on them.
Attached Image (click to enlarge)
Click to Enlarge Name: engulfing bars.gif Size: 26 KB
15 YEARS OF PASR ON FOREX FACTORY!
  • #1,697
  • Apr 6, 2009 1:15pm Apr 6, 2009 1:15pm
Quoting strat
Nicola, as per my "bait" post, the TL should be drawn from the Dec 08 closes to the most recent closes to identify the target. EURUSD likes to obey TLs.

And, the "hammer" at the end of an uptrend is a "hanging man"!

Dear Strat,
Ive been reading this thread just for 3 days, Ive learnt so much and thank you for your time, Thanks a lot.

Strat Im thinking about myself and my time spending for learning how to trade and how to control myself in market, I really want to know how much money do I need in order to earn an income, I dont want to get rich overnight or in a month(money, get back ..... Im all right jack keep your hands off of my stack)
I just want to pay my bill and take my hand off of my dad's pocket and studying what I want(photography).
people always telling me you are CRAZY, because you cant even pay your phone bill with a career or skill like photography! I think they are right, So Im trying to learn forex in order to earn an normal income.
do you think this is possibile with something around $10.000?
Attached Image (click to enlarge)
Click to Enlarge Name: Let IT Rain.JPG Size: 125 KB
You can't have everything... where would you put it?
  • #1,698
  • Apr 6, 2009 1:16pm Apr 6, 2009 1:16pm
Hello Strat, Baba G, and team,

I am one of the lurker here I had no confidence to post because I wasn’t shore what I am talking about.
Last week, I got a long leged doji (light bulb moment), same as what you see on GBPUSD on march 30.
It started when on January 23rd closed and January 25th opened with a 130 pip gap(daily tf). Strong indication of a trend change.
February candle closed as a doji showing the end of a down trend, and a march candle was not decided just yet(monthly tf)! Finally the bulls take control on march 30, and last week buyers and sellers agreed that the price must close above the 20EMA (weekly tf, confirmation).

Now I have a dillema! Should I put in a buy-limit at 1.4777 (last month high) or wait until it retrace, or put a buy-stop at 1.4851 with S/L 30 pips – Fridays close?
I think, I’ll wait how Monday’s candle will develop.

Thanks for the lesson.

Ps: when I typed this in word, was not able to post (newb mistake), so today follow:
My botsqueese indicator was to close to loose entri, and a trigger finger went to work!
Should I say? Yes, I was stopped out at 1.4829
Attached Image (click to enlarge)
Click to Enlarge Name: gbusdff.jpg Size: 177 KB
  • #1,699
  • Apr 6, 2009 1:21pm Apr 6, 2009 1:21pm
Quoting Facti
So Im trying to learn forex in order to earn an normal income.
do you think this is possibile with something around $10.000?
Facti, you will get a hundred different opinions on this but here's mine: bearing in mind sound money and risk management (2% risk per trade etc etc), you are going to put yourself under a huge amount of pressure to turn a living from that - this will effect your trading, most likely for the worse.

HOWEVER...i think 10g is a strong starting point, and if you can learn to trade successfully and compound your account balance, you could see it grow to a level which could provide you an income.

Dan
  • #1,700
  • Apr 6, 2009 1:39pm Apr 6, 2009 1:39pm
Quoting AstonDan
Facti, you will get a hundred different opinions on this but here's mine: bearing in mind sound money and risk management (2% risk per trade etc etc), you are going to put yourself under a huge amount of pressure to turn a living from that - this will effect your trading, most likely for the worse.

HOWEVER...i think 10g is a strong starting point, and if you can learn to trade successfully and compound your account balance, you could see it grow to a level which could provide you an income.

Dan
thank you Dan, i hope i can do that...
You can't have everything... where would you put it?
54 traders viewing now