Strat's Long Term Stress Free Trading | Page 86 | 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

  • #1,701
  • Apr 6, 2009 1:52pm Apr 6, 2009 1:52pm
Quoting Facti
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...
Facti, thank you for your kind words. In the short term, I recommend you find a site to sell your photographs because if this is an example of your work, it is beautiful, especially with the "dark cloud" which is very apropos.

With regard to forex, don't even think about how much to fund an account UNTIL you have proven yourself FOR AT LEAST 1 YEAR on demo and then, on a VERY SMALL real, live account with small, but real money, on the line. There is a HUGE difference between demo and "live" as this brings in trading psychology (emotions, fear, greed, etc.) which are not apparent when on demo.

If we are making it look easy on this thread, then it is an illusion and for that I apologise. Trading forex requires hours, days, weeks, months and years to learn and must not be taken lightly.
15 YEARS OF PASR ON FOREX FACTORY!
  • #1,702
  • Apr 6, 2009 2:06pm Apr 6, 2009 2:06pm
Quoting strat
With regard to forex, don't even think about how much to fund an account UNTIL you have proven yourself FOR AT LEAST 1 YEAR on demo and then, on a VERY SMALL real, live account with small, but real money, on the line. There is a HUGE difference between demo and "live" as this brings in trading psychology (emotions, fear, greed, etc.) which are not apparent when on demo.
Yes, i apologise Facti, my response was based on when YOU HAVE LEARNT TO TRADE, which may take a long time (don't rush in)
  • #1,703
  • Apr 6, 2009 2:11pm Apr 6, 2009 2:11pm
Quoting magy
Hello Strat, Baba G, and team,...
Hello magy,
I'm a little confused with your thought process here. You would only put a buy stop above the monthly high IF you were going to trade the monthly time frame. If you are trading the Daily time frame, then only use Daily signals and price action but with the BOSS and the BIG BOSS as your guide.

If you are following price action then you would not have placed your trade because there is no price action signaling a trade on GBPUSD.

With regard to where we are with GBPUSD long term, we are in the middle of transition. On my data, both the BOSS and BIG BOSS have put in unconfirmed swing lows - we need these to be confirmed as swing lows followed by confirmed swing highs to show us the trend has changed.

Until you have learned price action and can read it like a book, I wouldn't worry about emotional indicators.
15 YEARS OF PASR ON FOREX FACTORY!
  • #1,704
  • Apr 6, 2009 3:00pm Apr 6, 2009 3:00pm
Quoting elitejets
Yes homework but you might find watching these sinks in better than reading.
Some great free videos from youtube on candlestick patterns, starting from the basics....
Thanks for this Nicola. It has saved me a lot of work as I was going to describe these in words - pictures mean so much more
15 YEARS OF PASR ON FOREX FACTORY!
  • #1,705
  • Apr 6, 2009 3:19pm Apr 6, 2009 3:19pm
I hope I'm reading this right but I seem to be seeing a lot of 'blow offs' on the charts. Might be the end of the recent moves.
  • #1,706
  • Apr 6, 2009 3:20pm Apr 6, 2009 3:20pm
USDCAD once again proves how important 1.2200 is to her.

Similarly, USDCHF with 1.1220.

Be careful with JPY pairs. With only 45 minutes left to NY close, USDJPY is showing more strength than the other JPY pairs - this is due more to a stronger $US than a weaker JPY.
15 YEARS OF PASR ON FOREX FACTORY!
  • #1,707
  • Apr 6, 2009 3:21pm Apr 6, 2009 3:21pm
With 40 minutes to go to NY close, several pairs showing BEOBs and one pair with a BEEB on my data.
15 YEARS OF PASR ON FOREX FACTORY!
  • #1,708
  • Apr 6, 2009 3:30pm Apr 6, 2009 3:30pm
Quoting Bloom
I hope I'm reading this right but I seem to be seeing a lot of 'blow offs' on the charts. Might be the end of the recent moves.
Not "blow off" tops by strict definition but could be swing highs - we need to see what the next bar does to confirm them.
15 YEARS OF PASR ON FOREX FACTORY!
  • #1,709
  • Apr 6, 2009 3:46pm Apr 6, 2009 3:46pm
Quoting strat
Not "blow off" tops by strict definition but could be swing highs - we need to see what the next bar does to confirm them.
It is what it is until it isn't...as far as the uptrend goes. By the looks of price action this morning we were headed for some reversal candles...but now...looks like some late day buying and indecision to close the day. We've had a long run up the last month. I don't think the train is going to turn around in one day (and maybe it won't for a while)
  • #1,710
  • Apr 6, 2009 4:06pm Apr 6, 2009 4:06pm
Quoting strat
With 40 minutes to go to NY close, several pairs showing BEOBs and one pair with a BEEB on my data.
Sorry, I do not look at the charts until after 5:00pm EST. Nothing matters until then, or so a very wise man told me...

It is now 5 so I will open my platform.
  • #1,711
  • Apr 6, 2009 4:31pm Apr 6, 2009 4:31pm
(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.)

Hi Strat

Thanks for this feedback I'll be more aware of this now.....

P.S. Notice too, that I also didn't get pulled into a false trades re EurUSd & UsdCad! Did I do OK, no PA at the correct area on my roundup?
~Cheers, Nicole
  • #1,712
  • Apr 6, 2009 4:37pm Apr 6, 2009 4:37pm
Hi Strat,

Thank you for the feedbck

I'll study more!!!

magy
  • #1,713
  • Apr 6, 2009 5:40pm Apr 6, 2009 5:40pm
Quoting strat
Facti, thank you for your kind words. In the short term, I recommend you find a site to sell your photographs because if this is an example of your work, it is beautiful, especially with the "dark cloud" which is very apropos.

With regard to forex, don't even think about how much to fund an account UNTIL you have proven yourself FOR AT LEAST 1 YEAR on demo and then, on a VERY SMALL real, live account with small, but real money, on the line. There is a HUGE difference between demo and "live" as this brings in trading psychology (emotions,...
Ive never thought of selling my photos, im going to think about it and thanks for the advise.
it not even a year that ive been doing this, so far i blew an account and that's it. now im playing with micro lot and i think it is so much better than demo, because i dont have feeling about it, it is more live and give me fear and greed and im getting used to deal with it.
im reading the thread and learning from you.

have a good night
Facti
You can't have everything... where would you put it?
  • #1,714
  • Apr 6, 2009 7:03pm Apr 6, 2009 7:03pm
Strat,
Would this be a viable counter-trend trade?

Overall trend is bullish but momentum appears to be decreasing (the "slope" of recent pushes up is declining)

Have a daily shooting star with confluence between 61.8% fib and S/R at 101.4.

Proposed trade is to sell 3 contracts at break of low (100.5)
S/L at high (101.5)
Close 2/3 at minor resistance at 99.3 (RR about 1:1)
Trail last third.
Attached Image (click to enlarge)
Click to Enlarge Name: uj.gif Size: 23 KB
  • #1,715
  • Apr 6, 2009 8:05pm Apr 6, 2009 8:05pm
Quoting wooli
Strat,
Would this be a viable counter-trend trade?

Overall trend is bullish but momentum appears to be decreasing (the "slope" of recent pushes up is declining)

Have a daily shooting star with confluence between 61.8% fib and S/R at 101.4.

Proposed trade is to sell 3 contracts at break of low (100.5)
S/L at high (101.5)
Close 2/3 at minor resistance at 99.3 (RR about 1:1)
Trail last third.
Not a shooting star on my data and too risky for me
15 YEARS OF PASR ON FOREX FACTORY!
  • #1,716
  • Apr 6, 2009 9:45pm Apr 6, 2009 9:45pm
I am one of those lurkers....
I took your euro bate trade you recommended.
It was a tough one but I made a profit of ??? 80 pips.
I am a 1 hour trader my goal is 2 big trades per week.
I have learnt so much from you. Thank you ever so much.
For the last few months
my trading has been successful. Is this just a lucky string..?
My head is conditioned to say no. My trading history is 10 years.
I am a have to stay lurker because my trading system is
so jammed into my head I cannot do anything else.
But I must say your long term trading has perfected my self
made system. I have never used TL and SL and RL on the weekly
or anywhere. This is such a present. Thank You sincerely.
Samuel
15 YEARS OF PASR ON FOREX FACTORY!
  • #1,717
  • Apr 6, 2009 9:46pm Apr 6, 2009 9:46pm
Quoting Facti
Ive never thought of selling my photos, im going to think about it and thanks for the advise.
it not even a year that ive been doing this, so far i blew an account and that's it. now im playing with micro lot and i think it is so much better than demo, because i dont have feeling about it, it is more live and give me fear and greed and im getting used to deal with it.
im reading the thread and learning from you.

have a good night
Facti
Feel free to ask any questions you might have
15 YEARS OF PASR ON FOREX FACTORY!
  • #1,718
  • Apr 6, 2009 9:51pm Apr 6, 2009 9:51pm
The RISK (BEOB & BEEB too long) is too great for me to take any of these trades plus my homegrown momentum is way too bullish to consider anything but a small retrace.

I would rather wait and see what tomorrow brings rather than risk some of my hard earned profits.
15 YEARS OF PASR ON FOREX FACTORY!
  • #1,719
  • Apr 6, 2009 10:00pm Apr 6, 2009 10:00pm
Quoting strat
I am one of those lurkers....
I took your euro bate trade you recommended.
It was a tough one but I made a profit of ??? 80 pips.
I am a 1 hour trader my goal is 2 big trades per week.
I have learnt so much from you. Thank you ever so much.
hah I guess he didn't lurk hard enough
  • #1,720
  • Apr 6, 2009 10:05pm Apr 6, 2009 10:05pm
Quoting FxPippy
(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.)

Hi Strat

Thanks for this feedback I'll be more aware of this now.....

P.S. Notice too, that I also didn't get pulled into a false trades re EurUSd & UsdCad! Did I do OK, no PA at the correct area on my roundup?
~Cheers, Nicole
You did good, girl (me thinks you are after a bronze pick!)
15 YEARS OF PASR ON FOREX FACTORY!
19 traders viewing now