Strat's Long Term Stress Free Trading | Page 110 | 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

  • #2,181
  • Apr 21, 2009 11:29am Apr 21, 2009 11:29am
Quoting psneto
oops indicator removed
If you don't learn anything else on here, young psneto, LEARN these two VERY IMPORTANT POINTS:

1) Jack of all trades - Master of NONE
I sent this PM to another EXPERIENCED trader on FF only last week:

""It's none of my business and you can tell me to piss off but I see you posting on just about every thread there is on FF commenting on methods and putting up charts. You will NEVER, EVER be a successful trader jumping about from one method to another. I know, I've tried it and lost $thousands to prove it. To be successful, you have to FIND what is COMFORTABLE and WORKS for you, stick with it, and learn it and practice it until you can do it in your sleep.""

His reply was VERY POSITIVE and said something like ""where were you years ago when I needed someone to tell me this""

2) INDICATORS
You have shown your true colours - you are using indicators for your analysis. Again, you will NEVER, EVER, be successful in PASR if you have to lean on and use an indicator as a crutch. As long as you refer to an indicator in your analysis, you are TRAINING your mind to be DEPENDENT on it. You have NOT accepted that PASR is the ONLY true method of evaluating price. Until you train your mind to study and SEE raw and pure PASR, you will not progress in your trading.

Furthermore, you are CHEATING and LYING to yourself which are LOSING traits in a trader. Trading brings out our personalities and characteristics and if you cannot be honest with yourself, you will NOT make it in trading

Finally, if this upsets you and you never visit this thread again, then I don't care - I ONLY want serious, committed students on here!
15 YEARS OF PASR ON FOREX FACTORY!
  • #2,182
  • Apr 21, 2009 11:34am Apr 21, 2009 11:34am
Quoting rgrace
Trading journal has been started, it is blank at this time because I have not taken any trades yet....
Good lad, rgrace, keep up the journal work - you will find it VERY VALUABLE in more ways than one and you will be surprised how it accelerates your growth as a trader.

Don't worry about those trades you pass on - only those you COMMIT to
15 YEARS OF PASR ON FOREX FACTORY!
  • #2,183
  • Apr 21, 2009 11:54am Apr 21, 2009 11:54am
Hey there, Here`s my pick.:nerd:

Strong resistance at 71.40.
Weekly trend up.
Daily trend break under 20.
Weekly bearish engulfing pattern.
Swing to 62.00
Attached Image (click to enlarge)
Click to Enlarge Name: c.jpg Size: 137 KB
  • #2,184
  • Apr 21, 2009 11:58am Apr 21, 2009 11:58am
Quoting strat
If you don't learn anything else on here, young psneto, LEARN these two VERY IMPORTANT POINTS:

1) Jack of all trades - Master of NONE
I sent this PM to another EXPERIENCED trader on FF only last week:

""[i]It's none of my business and you can tell me to piss off but I see you posting on just about every thread there is on FF commenting on methods and putting up charts. You will NEVER, EVER be a successful trader jumping about from one method to another. I know, I've tried it and lost $thousands to prove it....
Man,

thanks for this message and actually I'm not upset at all, I'm learning and it's good to have someone to guide me on this.

I've been posting on Jacko's and J16's thread as well because I thought that your and theirs system are correlated and basically I'm trying to practice PA on the fly and since they talk about PA on 4h, I'm posting there but I'm not trading anything under daily until I prove to myself that I can do with daily and weekly only. I had 2 positive months trading 4h,daily and weekly but 4h is killing me this month, so I decided to stop to trade it. If you still think that I shouldn't do this, please, let me know.

About the indicator, it's there because I'd like to see divergence but if you ask me how many times I checked for it in the last 2 months, my answer will be 0. And since this is your 2 comment about this, I will remove it from ALL charts

thanks again for your help
  • #2,185
  • Apr 21, 2009 12:07pm Apr 21, 2009 12:07pm
Quoting Naws
Strat you said USDJPY confirmed a boss swing high on 4/10

Are you referring to the BOSS EMA here which is the dashed red line on my chart or the actual bars on a weekly chart?

If you are talking about the EMA then to me it looks like it is a swing low

Attachment
Does my post on Swings answer this? You should be looking at the BOSS chart and noticing the confirmed swing high - do you see it?
15 YEARS OF PASR ON FOREX FACTORY!
  • #2,186
  • Apr 21, 2009 12:22pm Apr 21, 2009 12:22pm
Quoting rgrace
Strat, you mentioned earlier to trade hammer's and shooting star off of the daily and up....
It doesn't matter what the time frame is - you should only make a decision AFTER the bar CLOSES.

I thought I had made this very clear in my "Timeframes" post but obviously not.

If you see a potential trade on the monthly and want to trade it then you have made the decision to trade the monthly. You can drop down to a lower time frame to fine tune your entry but your trade management must be on the monthly chart.

If you manage the trade on the daily after entry then you are trading the daily NOT the monthly.

A monthly bar consists of 20 daily bars so if you try to trade the monthly using the daily then there is a possibility of being stopped out at least 20 times whereas you would likely still be in the trade on a monthly.

Trading the monthly is more INVESTING than trading and requires HUGE SL and tolerance for drawdown - unless I am mistaken, you are nowhere near that level.
15 YEARS OF PASR ON FOREX FACTORY!
  • #2,187
  • Apr 21, 2009 12:28pm Apr 21, 2009 12:28pm
Quoting Life of Pi_p
I believe that once the 4/10 candle was broken to the downside (by an outside bar on my charts), it was confirmed as a lower high. Using the train analogy, it turned from north to south on the turntable.
To be more specific, the 4/10 bar was CONFIRMED as a SWING HIGH by the 4/17 candle having a low LOWER than the 4/10 candle. The 4/17 candle also, of course, has to have a LOWER high.

See my post and chart on swings

Is this clear to everyone?

And, Pi man, I hope you also read my post to psneto on being a Jack of all trades - Master of NONE.
15 YEARS OF PASR ON FOREX FACTORY!
  • #2,188
  • Apr 21, 2009 12:32pm Apr 21, 2009 12:32pm
Quoting patrick25
Hi Strat,

By looking at your answer "looking for PA to sell" to my post about EURGBP, I think you have turned one light ON in my head. The buy time is long over since it was top @ .9803 now lower high on weekly. Am I thinking what you are thinking? or I am thinking full of it
Thanks.
There is much more to it than that. Did you start with the analysis of the BIG BOSS, then the BOSS before looking at the Daily? Have you looked at each bit of information on our charts - they all give you clues, Sherlock!
15 YEARS OF PASR ON FOREX FACTORY!
  • #2,189
  • Apr 21, 2009 12:34pm Apr 21, 2009 12:34pm
Quoting AminAS
I've been a little lazy when it comes to pulling fibs and drawing S/R lately. I guess I have just been waiting to see some Price Action first. Maybe I am unconsciously trading Baba G style "naked". Nothing really essential to anyone's learning on this post, just a little bit of personal commentary.

I haven't been posting as much lately because all my questions get answered when other traders ask them. This is a definite success. Thanks guys.
Learn in YOUR own time, Amin, no-one else's. The markets will ALWAYS be there.
15 YEARS OF PASR ON FOREX FACTORY!
  • #2,190
  • Edited 2:53pm Apr 21, 2009 12:37pm | Edited 2:53pm
Quoting FxPippy
Hi Swami
On my charts I only get an outside bar if I combine it with my small Sunday bar, and then the small IB which touches and bounces off the 365. From what I see, price still holds to the downside 20 ma, but is caught between the 365 underneath. For me I'll be watching and waiting...and downside prevails.

BTW I don't get what you mean by OSGN..my be the others do! But riddles eh?
P.S. FTB (First Testing Banana)?!
Watching and waiting is better than "trading and losing", Nicole, so you're doing good, girl!

I have put in a request to Swami to send us a list of acronyms as, like you, I feel like he's from another planet!
15 YEARS OF PASR ON FOREX FACTORY!
  • #2,191
  • Apr 21, 2009 1:19pm Apr 21, 2009 1:19pm
Quoting strat
Does my post on Swings answer this? You should be looking at the BOSS chart and noticing the confirmed swing high - do you see it?
Yep I see it now, I was confused at first because I thought you were talking about the EMA
  • #2,192
  • Apr 21, 2009 1:36pm Apr 21, 2009 1:36pm
Quoting psneto
Man,

thanks for this message and actually I'm not upset at all, I'm learning and it's good to have someone to guide me on this.

I've been posting on Jacko's and J16's thread as well because I thought that your and theirs system are correlated and basically I'm trying to practice...
The realisation and acceptance of this is a BIG step for you - now, can you stay true to yourself?

Have you read my post on selection of time frames? If not, I suggest you go and read it. You may find your personal harmonics are not suited to anything shorter than the daily time frame.

Now, this applies to everyone, until you can prove you are consistently successful and profitable on the daily time frame for at least 3 YEARS, do not even consider H4 or shorter.

How do you know when you are consistently successful and profitable on the daily time frame? When you plot your account equity curve and it starts off in the bottom left corner and ends up in the top right corner OVER 3 YEARS.

DIVERGENCE:
As a previous, biggest, technical indicator junkie, I used to think divergence was the key to the Magic Kingdom. In reality, it is the key to Davy Jones' locker!

How do you know when prices are reacting to divergence? Is it that small retrace of a couple of candles or is it a trend change? No-one knows and certainly NOT a junk indicator!

If you still believe in divergence, go to a strong trend such as the majors from July last year to the end of November and add any indicator which supposedly identifies divergence. That, and ANY strong trend, will tell you exactly what it thinks of divergence and indicators. This is true of anything that is mathematically calculated - yes, even my cycles - they are totally useless in a strong trend.

You may say then that they are helpful in consolidation, and while they MAY, they are NOT RELIABLE or CONSISTENT.

I see on other PASR threads, people posting indicators to identify divergence but WHY? If they REALLY and TRULY understand PASR, there is absolutely NO NEED for them.

PASR RULES PRICE ACTION - end of story

By the way, there are way better indicators to identify divergence and NO, I'm not going to tell you or anyone because I have been 'INDICATOR FREE" for years now!

15 YEARS OF PASR ON FOREX FACTORY!
  • #2,193
  • Apr 21, 2009 1:38pm Apr 21, 2009 1:38pm
Quoting psneto
Hi,

Does anybody trade 4H here? I see a PB on EUR'/JPY and it seems to be in a good spot. What do you guys think?

I have a sell on USD/CHF too, I entered before everybody started to say that it was not a good one, even tough we had PB on 4H and Daily chart, and to finish I have a PB on NZD/USD on 4h that I'm on and would appreciate any comment as well..

thanks!
Right thats it......... send me your money....your trade 4 hr....... gotcha
  • #2,194
  • Apr 21, 2009 2:02pm Apr 21, 2009 2:02pm
Quoting green
Hey there, Here`s my pick.:nerd:

Strong resistance at 71.40.
Weekly trend up.
Daily trend break under 20.
Weekly bearish engulfing pattern.
Swing to 62.00
My strong resistance is at 70.20
My BOSS trend is DOWN
No BEEB on my BOSS

Don't know what you mean by "Swing to 62.00" - do you mean sell down to 62.00? If so, how can you say this when you have said "Weekly trend up"

Have you registered on the Path of Learning?
15 YEARS OF PASR ON FOREX FACTORY!
  • #2,195
  • Apr 21, 2009 2:03pm Apr 21, 2009 2:03pm
Quoting strat
The realisation and acceptance of this is a BIG step for you - now, can you stay true to yourself?

Have you read my post on selection of time frames? If not, I suggest you go and read it. You may find your personal harmonics are not suited to anything shorter than the daily time frame.

Now, this applies to everyone, until you can prove you are consistently successful and profitable on the daily time frame for at least 3 YEARS, do not even consider H4 or shorter.

How do you know when you are consistently successful and profitable...

One more time, thanks Strat!
I'm totally decided to stick with daily/weekly charts now... I'm tired to be up and down and frustrated. I know that Baba G will not be happy with this, but I need to be up as well.

What I was not expecting to read but I think that I will give you 110% of reason soon is the 3 years trading only daily charts. I confess that I had 3 months in my mind but as you and some other good trades say, once you get used to trade Daily and weekly there's no reason for you to go down to lower timeframes that gives you more stress and less profit ( ARGHHH READ THIS 10000000000x PSNETO to have this in your heart).

About the divergence I tried to applied it but the fact is, I that never applied and the indicator was there because I was lazy to remove them. BUT I removed it from ALL charts after answering your last post. So now I have only EMAs and SR lines.

Thanks!
  • #2,196
  • Apr 21, 2009 2:05pm Apr 21, 2009 2:05pm
Quoting Baba G
Right thats it......... send me your money....your trade 4 hr....... gotcha
NOPE

Lesson learned!!

Soon I will be playing in your team ( winners)

  • #2,197
  • Apr 21, 2009 2:24pm Apr 21, 2009 2:24pm
Quoting psneto

One more time, thanks Strat!
I'm totally decided to stick with daily/weekly charts now......
Good lad, now stay disciplined and focused and WAIT for trades to come to you NOT you hunting for trades.
15 YEARS OF PASR ON FOREX FACTORY!
  • #2,198
  • Apr 21, 2009 2:47pm Apr 21, 2009 2:47pm
Afternoon (on the east coast anyway)!

During High School, there were students that learned quickly and advanced faster than other students. Some kids were great at math others at English, and yet others at physical activities (now, now). A students, C students, etc...

High School still took 4 years to get through, although some come out cooked and others half cooked.

Strat, there are no shortcuts on the path, but how do we prove to ourselves where we are at along the path? Can we? Or does the teacher need to give a report card?

What all impatient newbies want to know....

How do we know when we are ready to go live?

I am no longer a newbie in some manner as I have taken this seriously and have started treating it like a business. I believe I have gone through most if not all of the trading stages in TITZ.

Learning PASR and staying only on the higher time frame (yes, I was a crack head on the lowers and was also addicted to indicators).
Trading demo now.
Thinking of Risk first.
Developing Patience and discipline.

Time.....will.....tell.

Need Baba's account # so he can build up my capital while I prove myself.
  • #2,199
  • Apr 21, 2009 2:58pm Apr 21, 2009 2:58pm
Quoting strat
My strong resistance is at 70.20
My BOSS trend is DOWN
No BEEB on my BOSS

Don't know what you mean by "Swing to 62.00" - do you mean sell down to 62.00? If so, how can you say this when you have said "Weekly trend up"

Have you registered on the Path of Learning?
True resistance is at 70.20
True my Boss is also down/the 50 line goes down.


Yes please, I will register!
  • #2,200
  • Apr 21, 2009 3:28pm Apr 21, 2009 3:28pm
HI Guys could you give your opinions on this chart. There is a possible pin forming on the daily usd/cad chart (it may not form a pin in which case I will not trade it but it could do in the next half hour or so). It is near a resistance line I have drawn, it is by the 38 fib and 61.8 fib of the last two down waves. However it would mean selling in to the boss 20 ma which puts me off. Any thoughts guys thanks
Attached Image (click to enlarge)
Click to Enlarge Name: uc.gif Size: 23 KB
10 traders viewing now