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Strat's Long Term Stress Free Trading

  • #2,421
  • Apr 27, 2009 4:34am Apr 27, 2009 4:34am
Quoting strat
On one of my psychology posts, I wrote about a guy on another thread and Forum who was trading a proven M5/M15 strategy .
Thanks to the person who wrote this.

 I’ve had an amazingly similar experience and its quite comforting to know people are finding it as challenging as I am.

Right back to the reading.
  • #2,422
  • Apr 27, 2009 11:02am Apr 27, 2009 11:02am
You should be aware that EURJPY is at, and nearing, interesting levels - see chart.

It is already at 126.50 which if you look in recent history on the chart, can see that this was an area of consolidation or, a price where buyers and sellers found equilibrium (balance).

A similar level can be found around 125.50ish, which is not that far off the 50% retrace at 124.72ish.

This then represents an area, 126.50 to 124.50 that we should be closely monitoring in conjunction with the BIG BOSS and BOSS to decide our future trades.
Attached Image (click to enlarge)
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15 YEARS OF PASR ON FOREX FACTORY!
  • #2,423
  • Apr 27, 2009 11:20am Apr 27, 2009 11:20am
Another chart talking to us
Attached Image (click to enlarge)
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15 YEARS OF PASR ON FOREX FACTORY!
  • #2,424
  • Apr 27, 2009 11:40am Apr 27, 2009 11:40am
These charts were made for talking and that's just what they'll do
One of these days these charts are gonna walk all over you!

Apologies to Nancy Sinatra - These Boots Were Made for Walkin' 1966
Attached Image (click to enlarge)
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15 YEARS OF PASR ON FOREX FACTORY!
  • #2,425
  • Edited 12:13pm Apr 27, 2009 11:42am | Edited 12:13pm
Quoting AminAS
I got in this guy on the close of the Sunday bar. Sunday usually gives that nice little IB so I treated it like a normal bar and put my entry 10 pips or so off the high. This is because it formed on that beautiful TL support, after Friday's beastly bar failed to close below. The stoploss was only 50 pips so I entered with half the normal position size.

http://img12.imageshack.us/img12/5702/usdchf.gif

I can hear Axl Rose "Where do we go, ooo (Sweet Child), Where do gooo nowww"! With Slash rippin some riff's on his Sunburst Les Paul....
Out of boredom, I almost took it myself and then I saw the overhead resistance and then I remembered PATIENCE & DISCIPLINE
EURUSD was the better pair to trade
15 YEARS OF PASR ON FOREX FACTORY!
  • #2,426
  • Apr 27, 2009 12:21pm Apr 27, 2009 12:21pm
Quoting golfer27
Evening all
Zip happening on my charts.
Read a good book today (well , flashread!) called the Taylor Book Method. It's by George Douglas Taylor, google it you can download it for free.
It's basically a method for determining short term trend, and the position of the short term cycle within the trend.
If you've already seen it, i'll get my coat......
The only thing , it's an old book, circa 1940's and seems to concentrate on commodities and there's a lot about tape reading.
Anyway, if you get bored, check it out.
Oh, and Linda Raschke often refers...
Everything was going great with the "free" download until it asked for a password.

Any chance you can send it to Lance (rogueforex) so that he can put it in the Registered Members' place?
15 YEARS OF PASR ON FOREX FACTORY!
  • #2,427
  • Apr 27, 2009 12:40pm Apr 27, 2009 12:40pm
Apologies Strat,
I downloaded from www.forex-book.org
The password is:
http:// www. forex - book. org

type the password in with no spaces, not as i have typed it above.
I will also send to Lance.

Hope this helps
  • #2,428
  • Apr 27, 2009 1:35pm Apr 27, 2009 1:35pm
Hmm - I wonder if this means anything? Now where did I put Strat's manual on PASR?
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15 YEARS OF PASR ON FOREX FACTORY!
  • #2,429
  • Apr 27, 2009 1:46pm Apr 27, 2009 1:46pm
Before anyone asks, the Fibonacci Ratios I use are from Bobokus and the Set Up is posted for those registered on The Path of Learning.
15 YEARS OF PASR ON FOREX FACTORY!
  • #2,430
  • Apr 27, 2009 2:57pm Apr 27, 2009 2:57pm
Good evening Strat, [GMST here],

I've been working at this for some time now. I've read the enormous amount of stuff on J16's thread, Jacko's and now this one. A number of books and articles have been consumed until my head is spinning with candles and trend-lines. I've even stuck Fibs on chart after chart in a variety of places and traced the moves between the Monthly, the Weekly and the Daily charts.

My practical experience has largely been in individual equities without a lot of success but not enormous disasters either once I had sorted out the difference between trading and investing.

So....I think it is time I had some systematic help and discipline to sort out the hundreds of bits of information which are buzzing around in my head.

I'm retired and want to enjoy my life so your daily method suites me as I have more enjoyable things to do now than sit in front of a screen all day. That being said I have the time to apply myself systematically in a focused way in order to succeed and supplement my pension.

Oh yes, I live in SW London, was born in Portsmouth and spent three years in York but have been living in, and working in London since 1968.

Is there still time? Do you have older people on your books? Will you give me a helping hand on condition I do the work?

Regards.
  • #2,431
  • Edited 3:38pm Apr 27, 2009 3:27pm | Edited 3:38pm
Quoting Lotuselanman
Good evening Strat, [GMST here],

I've been working at this for some time now....
Good to have you here. So what Elan have you got? My old man has a Gold Leaf (66 i think) and is rebuilding a DHC 68ish.
  • #2,432
  • Apr 27, 2009 3:42pm Apr 27, 2009 3:42pm
BIG BOSS still says up, but its running into a major S/R level and a cluster of MAs.

BOSS - last week's candle made a lower high and lower low than previous week.

Daily - Top put in on 4/14...been sitting on the turntable for a week or two and now possibly headed south with confirmation of daily lower high on 4/24. If you follow such patterns, we're also in a head and shoulders top right now.
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  • #2,433
  • Apr 27, 2009 4:14pm Apr 27, 2009 4:14pm
Gbpyen - looks tempting but factors add up to tell me not to take it.

We have a dly hammer (apres 2200 over here) but the price has held below the dly 50ma and wkly 20ema. I also have it under 2 closely packed fibs from the wkly swing H/L and the daily H/L too. It's also below the ascending daily TL.

So, all in all it adds up for a strong load of resistance above - but, if it were to go it could explode upward as all that pressure underneath bursting thru would go like a volcano -

Checking usdyen I have a spinning top - not really a reason in itself to put an order in but a possible signal for change. I'm gonna sit by and watch me thinks!
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Trade less and become more profitable!
  • #2,434
  • Apr 27, 2009 4:19pm Apr 27, 2009 4:19pm
Not too much going on for me tonight but will be interested in what USDJPY does around 95...

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  • #2,435
  • Apr 27, 2009 4:52pm Apr 27, 2009 4:52pm
Quoting Lotuselanman
Good evening Strat, [GMST here],

I've been working at this for some time now....
It is never too late and one is never too old to join The Path of Learning. Send Lance (rogueforex) your details and me your Lotus!
15 YEARS OF PASR ON FOREX FACTORY!
  • #2,436
  • Apr 27, 2009 4:56pm Apr 27, 2009 4:56pm
I have added the following for those registered on The Path of Learning:

Addicted to Trading

Belthold Signal

Bobukus Linear Regression Channel (especially for PaulKing - he likes Channels especially the English Channel which he crosses every 2 weeks!)

Calming The Mind
15 YEARS OF PASR ON FOREX FACTORY!
  • #2,437
  • Apr 27, 2009 4:59pm Apr 27, 2009 4:59pm
Quoting Life of Pi_p
BIG BOSS still says up, but its running into a major S/R level and a cluster of MAs.

BOSS - last week's candle made a lower high and lower low than previous week.

Daily - Top put in on 4/14...been sitting on the turntable for a week or two and now possibly headed south with confirmation of daily lower high on 4/24. If you follow such patterns, we're also in a head and shoulders top right now.
Also it has put in a LL and a LH
15 YEARS OF PASR ON FOREX FACTORY!
  • #2,438
  • Apr 27, 2009 5:07pm Apr 27, 2009 5:07pm
Quoting Grimweasel
Gbpyen - looks tempting but factors add up to tell me not to take it.

We have a dly hammer (apres 2200 over here) but the price has held below the dly 50ma and wkly 20ema. I also have it under 2 closely packed fibs from the wkly swing H/L and the daily H/L too. It's also below the ascending daily TL.

So, all in all it adds up for a strong load of resistance above - but, if it were to go it could explode upward as all that pressure underneath bursting thru would go like a volcano -

Checking usdyen I have a spinning top - not really a reason...
Danny boy, Bond is calling you! Remember how he got tricked? It's not a hammer on my data and NOT a hammer on yours either!

Prices may well trickle up after it but if they do, I'm looking to sell!
15 YEARS OF PASR ON FOREX FACTORY!
  • #2,439
  • Apr 27, 2009 5:16pm Apr 27, 2009 5:16pm
Quoting AstonDan
Not too much going on for me tonight but will be interested in what USDJPY does around 95...

Attachment
My line is at 96.00 Dan so I'll tell you what it does

How do you turn the lights on in your charts? They're very depressing or maybe you're another Darkness Wannabe with Nicola?

Also, where's your badge?
15 YEARS OF PASR ON FOREX FACTORY!
  • #2,440
  • Edited 5:44pm Apr 27, 2009 5:27pm | Edited 5:44pm
Quoting Grimweasel
Gbpyen - looks tempting but factors add up to tell me not to take it.

We have a dly hammer (apres 2200 over here) but the price has held below the dly 50ma and wkly 20ema. I also have it under 2 closely packed fibs from the wkly swing H/L and the daily H/L too. It's also below the ascending daily TL.

So, all in all it adds up for a strong load of resistance above - but, if it were to go it could explode upward as all that pressure underneath bursting thru would go like a volcano -

Checking usdyen I have a spinning top - not really a reason...

I have been watching this pair as well, nice Shooting star forming on the BIG BOSS. I am waiting for a nice shooting star on the daily before considering it. If price goes down a bit, 134.2 is a very significant support area since 1995, it was where price turned from the previous all time low. Of course that was before this huge sell off we had earlier this year.
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