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Strat's Long Term Stress Free Trading

  • #2,521
  • Apr 29, 2009 6:12pm Apr 29, 2009 6:12pm
Quoting AstonDan
Hi Steve, i used to be the worst at trigger happy trading (or freestyling) - if it looked like it was going up, i'd buy, and vice versa. I would enter soley on trend which is perhaps not a bad thing...

But looking back over my journal i can see a clear growth between this and selective PASR trading, to the extent that five weeks ago, i took about 10 trades, and grew my account by 2.56%.

Two weeks ago, i took one trade, and grew my account by 2.37%...go figure!

It's diffiicult (or i find it so) to put my guns away, but seeing...
Thanks Dan.
That’s just what I need to hear, you’ve’ been down the path of trigger happy, and your managing to tame the beast.

Like Strat and other experience guy’s said on here wait for the clearest set ups and we will be rewarded. It’s in the thread title STRESS FREE i can hear Strat saying LOL.
Just need to practice discipline but like you said it is so hard to do. Well done on growing your account, one trade as well

Thanks for the support.
Yesterday’s regrets and tomorrows dreams are today’s opportunities
  • #2,522
  • Apr 29, 2009 6:17pm Apr 29, 2009 6:17pm
Quoting strat
Note that price is in the 20/50 trap AND the MAs are horizontal telling us that, for the time being, the buyers and sellers have reached agreement on price.

But for how long? This is the quiet before the storm meaning that, usually, a big move comes off flat MAs AND price in the 20/50 trap.

Don't guess the trade - wait for PASR
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Just to reiterate a point Blackeagle made a few pages back, 1.7500 is an important level on sterling swiss. We're slowly making our way up to that level in a meandering sort of fashion and i think it will be interesting to see what PA tells us all should it reach this level.
  • #2,523
  • Apr 29, 2009 6:23pm Apr 29, 2009 6:23pm
Quoting cowboying
OK Strat I’ll come clean, one more trigger happy trade last night , just trying to get a feel for Daily.
Big boss building some upward momentum. Weekly good bounce off support (Same as big Boss)
Daily bounce of boss 50 preceding two bars hammers (weak I know) and T/L support.
R/R looked good to me. Against heading in to boss 20 and 100, and guess what ….where is it right now (23.45 GMT) flat lined on both.

Where’s Baba G to tell me I’m surrounded by Indians.
Actually, it looks far better on your charts than on mine which just confirms you must trade what you see on your charts. However, there is no disputing the facts that Dan put up last night so be careful.

Steve, the Queen has a nasty habit of playing with her serfs, she keeps lifting her skirt, a little higher each time until just when you think her grail is there for your taking, off comes your head! If in doubt, ask Baba G!
15 YEARS OF PASR ON FOREX FACTORY!
  • #2,524
  • Apr 29, 2009 6:26pm Apr 29, 2009 6:26pm
Quoting cowboying
you’ve’ been down the path of trigger happy, and your managing to tame the beast.
To quote The Wire: "...day at a time i suppose..."

It certainly isn't easy Steve and is something i always fight against, although the results are helping me see the error or futility of that approach.

The next hurdle after that is only choosing VALID PASR, which is a whole other headache which i'm coming to terms with!

Strat and the team will keep us on the straight and narrow though
  • #2,525
  • Apr 29, 2009 6:36pm Apr 29, 2009 6:36pm
Quoting strat
Actually, it looks far better on your charts than on mine which just confirms you must trade what you see on your charts. However, there is no disputing the facts that Dan put up last night so be careful.

Steve, the Queen has a nasty habit of playing with her serfs, she keeps lifting her skirt, a little higher each time until just when you think her grail is there for your taking, off comes your head! If in doubt, ask Baba G!
Your absolutely right over confidence in this game and you’re a gonner that’s the beauty of this tread a true path of leaning from those who have been on it a lot longer than me.

Did Baba G really see her grail I’m off to the stocks for a reality check
Yesterday’s regrets and tomorrows dreams are today’s opportunities
  • #2,526
  • Apr 29, 2009 10:30pm Apr 29, 2009 10:30pm
A chart to watch.
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  • #2,527
  • Apr 30, 2009 1:28am Apr 30, 2009 1:28am
Very good one building up,i will wait to see what it will do at 2.0240(my feeds)price has being touching this level for 4 weeks now and its the low of the previous year,hopefully we get some PA there,thanks blackeagle


Quoting Blackeagle
A chart to watch.
D labour of a fool wearieth him cos he doesn't know how to enta d city
  • #2,528
  • Apr 30, 2009 2:14am Apr 30, 2009 2:14am
Morning All

Just to let you know that I couldn't post the last 2 nights becuase my lappy had been playing up and it offiically died last night . I'm ordering a new one today from Dell, will post via work when i can. Will catch up via my online broker IT platform today and catch up with the posts.. cheers Nicole
  • #2,529
  • Apr 30, 2009 2:30am Apr 30, 2009 2:30am
GBP/JPY is messing around with the major 145 psycho. A close above could lead to a test of 147.50 and then 150.
Bang.
  • #2,530
  • Apr 30, 2009 3:15am Apr 30, 2009 3:15am
Quoting strat
Good lad, Tony, I'm really pleased for you - stress free as well - yes?

This was one of six trades I took yesterday for similar reasons. Seeing Elliott Waves -eh?

Patience and Discipline ALWAYS reward you - they are the part of trading psychology that accounts for 90% of our success as traders.

Strat, thanks for your support. Stress free, absolutely. PA is just so powerful at the correct levels.

rock on

TonyH
  • #2,531
  • Apr 30, 2009 3:40am Apr 30, 2009 3:40am
Well, for the first time ever I reviewed those charts and made my decisions on the yens - not to trade; and I looked at the charts this morning and saw they did give way to some good pippage - but I wasn't bothered, no feelings of missing out as I'm still not happy with the moves.

I'm 'expecting' them to put a S/Star in off the next key leve - if there are enough of us on here doubting the move then we should therefore act as a small sample pool of the large pool of traders. Who knows? But, this really is stress free trading so thanks again Strat for shining the light down the path of discovery!!
Been flat for 2 days now and it feels good baby!

I'm watching nzdusd currently -some interesting action. We have the right hand shoulder of a H&S pattern forming and yesterday gave us a hammer type bar. PA is currently retracing into that bar from yesterday. The boss is still in a downtrend as is the big boss. One to keep an eye on - sorry for not posting a chart - I'm on the work PC!
Trade less and become more profitable!
  • #2,532
  • Apr 30, 2009 4:43am Apr 30, 2009 4:43am
Morning all,

USDCAD is approaching an important level which i have marked on my chart as 1.1822. This has provided support four times since October 2008 and has previously been a pivot point between November 2004 and January 07.

The monthly is shaping up to close today confirming March as a Swing High and price on the daily is being pushed closer and closer to 1.1822. Additionally, price is also now being held down by the 20 on Daily.

With the monthly confirmed swing high in mind, i am bias towards short PA at 1.1822, but with the monthly also showing the 20 has crossed above the 50, i'm in two minds.

What do you think?

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  • #2,533
  • Apr 30, 2009 5:19am Apr 30, 2009 5:19am
As I haven't been posting and only joined recently, I hesitate to comment but am sticking my neck out to say:
I agree with your comments AstonD but am bothered by your last mention of the MS golden cross on the Monthly. I know that MAs can be taken as a guide to PA but the cross reflects the SH on the MN and is now flattening out and is following the PA as a lagging indicator. Should much notice be taken of it? The PA on the MN is clearly down for the last two months.

I will wait to see the D PA when it reaches the 1.8ish SR to see if it breaks through. If is does then the short is supported by the W and the MN - at least as I read it.

But then what do I know??

LEM
  • #2,534
  • Apr 30, 2009 6:29am Apr 30, 2009 6:29am
Personally,i think for now the trend is down,i will be patient and wait till price gets to around 1.1750 and see whether it will present a PA opportunity to trade.


Quoting AstonDan
Morning all,

USDCAD is approaching an important level which i have marked on my chart as 1.1822. This has provided support four times since October 2008 and has previously been a pivot point between November 2004 and January 07.

The monthly is shaping up to close today confirming March as a Swing High and price on the daily is being pushed closer and closer to 1.1822. Additionally, price is also now being held down by the 20 on Daily.

With the monthly confirmed swing high in mind, i am bias towards short PA at 1.1822, but with the monthly also...
D labour of a fool wearieth him cos he doesn't know how to enta d city
  • #2,535
  • Apr 30, 2009 8:03am Apr 30, 2009 8:03am
Quoting strat
Actually, it looks far better on your charts than on mine which just confirms you must trade what you see on your charts. However, there is no disputing the facts that Dan put up last night so be careful.

Steve, the Queen has a nasty habit of playing with her serfs, she keeps lifting her skirt, a little higher each time until just when you think her grail is there for your taking, off comes your head! If in doubt, ask Baba G!
look why do you think i cant even be botherd with anything without great amazing sexyy 100% pure.....Price action......cause ive SEEN WITH MY OWN EYES EARS AND TASTE the loss of a brothers head.......never never again......

God save the Queen......and yes i have seen the grail many times.....ooooo its nice..............g
  • #2,536
  • Apr 30, 2009 8:09am Apr 30, 2009 8:09am
Quoting cowboying
Thanks Dan.
That’s just what I need to hear, you’ve’ been down the path of trigger happy, and your managing to tame the beast.

Like Strat and other experience guy’s said on here wait for the clearest set ups and we will be rewarded. It’s in the thread title STRESS FREE i can hear Strat saying LOL.
Just need to practice discipline but like you said it is so hard to do. Well done on growing your account, one trade as well

Thanks for the support.
go figure indeed.......nice %......management,,,,,risk,,,,,,yeild curve.......you can see cant you.....not all but maybe a little.....

put the gun down........
  • #2,537
  • Apr 30, 2009 8:40am Apr 30, 2009 8:40am
Quoting Lotuselanman

I will wait to see the D PA when it reaches the 1.8ish SR to see if it breaks through. If is does then the short is supported by the W and the MN - at least as I read it.

But then what do I know??

LEM
I'm with you LEM and LGB, PA on the daily supported by PA on the monthly will outrule MA cross on the monthly.

Thanks for your feedback.

Dan
  • #2,538
  • Apr 30, 2009 11:15am Apr 30, 2009 11:15am
Hi All

New lappy arriving by the 8th May, will continue to post when I can..Nicole
  • #2,539
  • Apr 30, 2009 12:09pm Apr 30, 2009 12:09pm
Quoting AstonDan
Morning all,

USDCAD is approaching an important level which i have marked on my chart as 1.1822. This has provided support four times since October 2008 and has previously been a pivot point between November 2004 and January 07.

The monthly is shaping up to close today confirming March as a Swing High and price on the daily is being pushed closer and closer to 1.1822. Additionally, price is also now being held down by the 20 on Daily.

With the monthly confirmed swing high in mind, i am bias towards short PA at 1.1822, but with the monthly also...
Wow, Dan, I can see your charts again! No more undercover charts for you eh?

My five second glance, without any analysis, at the chart you posted, says your line will be support again.

When I look at my chart, my line in the sand is psycho 1.1900

If we take a step back and look where we've been:

We have stair stepped down for 2 months and gone through 2 important levels of support.

1.1900 or your 1.1822, have been the lower boundary of this consolidation/trading range since September 2008 so it has been a very important level to this pair.

I can go back as far as 1979 on my data and see the same thing - 1.1900 has been the line in the sand and mainly support.

So, yes Dan, this is an important level - a bloody important level!

Let's do some weird stuff:

If we pull fibs from the daily swing high on March 9 to March 23, and using Bobukus's stuff, you will see that where we are at now is the 1st target, T1.

If I look at my Momentum and Cycles work:
We have the short term and long term cycles for each time frame (M, W, D) all bottoming now. So, a big cycle change coming?
However, bearish momentum is still accelerating down.

Also, the low on my charts at 1pm EST (still 4 hours before NY close),1.1860, represents a 1.272 ratio which is one of the five ratios used by Larry Pesavento, THE Fib guru. 1.272 is the square root of The Golden Mean, 1.618

So, knowing all this, which way will price go at 1.1900? Who knows? Toss a coin!

Remember, when we are "looking" for a trade, we can conjure up "weird stuff" to make it look like a good trade (in our mind).

Wait until you "see" the trade, THEN, in addition to knowing all the "weird stuff", decide how to trade.

So, the bottom line is WAIT FOR PASR

Blackeagle is more "in tune" with key levels, so let's wait for his words of wisdom
15 YEARS OF PASR ON FOREX FACTORY!
  • #2,540
  • Apr 30, 2009 2:53pm Apr 30, 2009 2:53pm
Quoting Baba G
look why do you think i cant even be botherd with anything without great amazing sexyy 100% pure.....Price action......cause ive SEEN WITH MY OWN EYES EARS AND TASTE the loss of a brothers head.......never never again......

God save the Queen......and yes i have seen the grail many times.....ooooo its nice..............g
HA…….. Baba G.... what could he see on bended knee…it’s winking at me, her grail so sweet, ah said the queen to me, my knight of bold go forth into the fold and study the naked bar for pots of gold and as you grow old think of me and shame on you for looking at my grail so sweet .
Yesterday’s regrets and tomorrows dreams are today’s opportunities
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