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Strat's Long Term Stress Free Trading

  • #2,921
  • May 12, 2009 5:45pm May 12, 2009 5:45pm
Quoting strat

I understand your risk % - must be something in the water down South!
I don't think its the water

However if he is unable to get his 1.5% on a 325 pip stop then he is seriously limited and will not be able to granulate with any sizable stop that longer term trading warrants. It is not an imposiible scenario but strikes me as a rather basic set up error.
GOD IS NOT SHORT OF CASH
  • #2,922
  • Edited 6:02pm May 12, 2009 5:46pm | Edited 6:02pm
Quoting Lotuselanman
Just after the close on my feed:

Big Boss consolidating after down trend since July 2008....

Either your BOSS 50 ma is off or mine is. Price closed above my BOSS 50 2 days ago.


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Does difference in data feed make this big of a difference in MA's?

I have been watching this since it broke the triangle and started making higher highs and lows on the daily. I am waiting for the break of this level, then looking to go long with PASR (hammer), to confirm an uptrend.

If it does not break it, I will be waiting for it to show a clear direction before shorting it. It has been in this triangle for a long time, could stay in it a while longer if this turns out to be a whipsaw.
  • #2,923
  • May 12, 2009 5:59pm May 12, 2009 5:59pm
HI Gang

This is a good example of confluence and the power of S&R. The yellow ma is 365
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Yesterday’s regrets and tomorrows dreams are today’s opportunities
  • #2,924
  • May 12, 2009 6:37pm May 12, 2009 6:37pm
I’m keeping an eye for Possible bounce off support ..131.00 Should PA (today’s bar or next) confirm, TL is drawn from line chart.
Monthly still above six month close (Just) boss above 20 although finding resistance at 134.78.
I would look for entry above previous day’s bar (133.57) or should that be above the last resistance at 134.74? All confirmed with a pa bar of course.
This trade for me would be scaling in another buy.
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Yesterday’s regrets and tomorrows dreams are today’s opportunities
  • #2,925
  • May 12, 2009 7:26pm May 12, 2009 7:26pm
Quoting Lotuselanman
Just after the close on my feed:

Big Boss consolidating after down trend since July 2008....
Christopher,

I know you want practice, but analysing like this where there isn't a trade, will only encourage you to "LOOK" for trades instead of "SEEING" trades. So rather than post like this, wait until you "SEE" a valid trade set up and then comment on that. Make sense?
15 YEARS OF PASR ON FOREX FACTORY!
  • #2,926
  • May 12, 2009 7:32pm May 12, 2009 7:32pm
Quoting kiwi_trader
Good post Grimweasel,

I often think Strat is being a bit harsh (not the words that pass through my mind) when he slaps posters down, but then I remember the thread's purpose....
Kiwi trader,
No, never been into slapping and smacking - much prefer to huddle and cuddle!

Self fulfilling makes a lot of sense if everyone shared the same close, IF only we could do it. I'm stuck with my broker's close at midnight EST. I tried changing the time zone on my computer before and while it changed everything else, it didn't change the midnight EST close. Am I missing something/doing something wrong?

I would love to have my open coincide with the London open.
15 YEARS OF PASR ON FOREX FACTORY!
  • #2,927
  • May 12, 2009 7:35pm May 12, 2009 7:35pm
Quoting elitejets
One who knows the enemy and knows himself will not be endangered in a hundred engagements. One who does not know the enemy but knows himself will sometimes be victorious, sometimes meet with defeat. One who knows neither the enemy or himself will invariably be defeated in every engagement.


Dan ... that candle is just too damn big then. Wait for a better one.
Bloody hell, Nicola, don't you start talking in conundrums and riddles - it's bad enough with Baby G and Swami!
15 YEARS OF PASR ON FOREX FACTORY!
  • #2,928
  • May 12, 2009 7:56pm May 12, 2009 7:56pm
Hey Strat,

Looking for more homework if you have any. Still reading and rereading the previous stuff, but if you have any more material, I would appreciate it.

What's with the Baby G reference? Did I miss a post or did Baba do something childish?

Ciao for now.
  • #2,929
  • May 12, 2009 8:02pm May 12, 2009 8:02pm
What package are you using for your charting Strat?
  • #2,930
  • May 12, 2009 8:24pm May 12, 2009 8:24pm
Quoting Lotuselanman
GBPJPY

On my feed at end of day:

Big Boss - shooting star at 147.107....
Well, well, well, Christopher – have you access to my charts? Who taught you to draw TLs like that which provide SO much information? First class job, old chap!

Now for the rest:

BIG BOSS: Can’t be a shooting star or ANYTHING until May 31

BOSS: Still 3 days to go – your BEEB could end up as a doji or doji star – don’t anticipate the bar until nearer the end of the week. IF it ends up being a BEEB, your analysis is good

WORKER: All good except no mention of the support level at 146.80 although I see it on your chart. Also no mention of the fib level which price has retraced to. The confluence of the support level, the fib level and the 20 all provide very powerful support

So, yes, wait for PA at this confluence for a trigger
15 YEARS OF PASR ON FOREX FACTORY!
  • #2,931
  • May 12, 2009 8:26pm May 12, 2009 8:26pm
Quoting One14
Hey Strat,

Looking for more homework if you have any. Still reading and rereading the previous stuff, but if you have any more material, I would appreciate it.

What's with the Baby G reference? Did I miss a post or did Baba do something childish?

Ciao for now.
Fountaintree mistakenly (I think?) referred to him as Baby G!

Lance posted new stuff the other day - seen that?
15 YEARS OF PASR ON FOREX FACTORY!
  • #2,932
  • May 12, 2009 8:27pm May 12, 2009 8:27pm
Quoting kiwi_trader
What package are you using for your charting Strat?
MT4 with a US broker
15 YEARS OF PASR ON FOREX FACTORY!
  • #2,933
  • May 12, 2009 8:30pm May 12, 2009 8:30pm
Quoting Swami S
If you have not read this then you might want to.
Full of wisdom for the traders mind.

http://www.sonshi.com/learn.html

there is also an excellent thread by FTI exploring it specifically in regards to trading.

G's Favourite " 1 bushel of the enemy's rice is worth 20 of mine"
Still doesn't beat:

A bird in the hand is worth two in the bush
15 YEARS OF PASR ON FOREX FACTORY!
  • #2,934
  • May 12, 2009 8:36pm May 12, 2009 8:36pm
Quoting Swami S
I don't think its the water

However if he is unable to get his 1.5% on a 325 pip stop then he is seriously limited and will not be able to granulate with any sizable stop that longer term trading warrants. It is not an imposiible scenario but strikes me as a rather basic set up error.
Yes, he is limited as are all our new traders with small accounts. They can only trade the risk allowed by their MM.

Trading psychology - wise, a 325 pip SL is one hell of a leap of faith for new traders.
15 YEARS OF PASR ON FOREX FACTORY!
  • #2,935
  • May 12, 2009 8:49pm May 12, 2009 8:49pm
Quoting rgrace
Either your BOSS 50 ma is off or mine is....
Your BOSS 50 is correct and no, the difference in feeds does not make that much difference.

Christopher - check that you have your MAs correct
15 YEARS OF PASR ON FOREX FACTORY!
  • #2,936
  • Edited 9:05pm May 12, 2009 9:02pm | Edited 9:05pm
Quoting cowboying
I’m keeping an eye for Possible bounce off support ..131.00 Should PA (today’s bar or next) confirm, TL is drawn from line chart.
Monthly still above six month close (Just) boss above 20 although finding resistance at 134.78.
I would look for entry above previous day’s bar (133.57) or should that be above the last resistance at 134.74? All confirmed with a pa bar of course.
[font=Calibri][size=3]This trade for me would be scaling in another...
Steve, I hope your TL means something to you - looks like a bag of shit to me - be careful not to draw your TL to "fit" your trade.

Safest entry would be above resistance.

Before adding another contract, have you got the profit from your first locked in and does it pay for the 2nd contract?

Watch out for resistance at psycho 137. I wish I had your hammer - that was a lovely trade, lad!
15 YEARS OF PASR ON FOREX FACTORY!
  • #2,937
  • Edited 11:16pm May 12, 2009 11:14pm | Edited 11:16pm
Hi Strart and fellow thread members,

Thanks for the clarification .

However, I am afraid the clarification raised more qns....

I draw your attention to post #720 which reference to the train analogue.
Combine with your reply to me at #2903. I formed the following conclusion:

A)This thread uses PASR selectively hopefully to have set up that give us an edge in catching the start (or at least near the start of the trend)...versus J16 which uses the same PASR to have set up base more on PA then trend.

B) Once the trend is identified, based on the train theory (think this part is way beyond me still), we will close position before retracement and at the low of retracement, buy/sell even more than previously (with reference to you mentioning getting on and off with more friends?).

Now my questions come:
1) Apart from experience, how do we identified the PA at SR that is near the start of trend. The only way I can think of say in an uptrend, is to have a buy stop above every grade A PA that is bullish. However, I noted that due to the volatility of the market, even in a ranging market for daily the whipsaw is quick huge...if we park a buy stop...it must be >than 50pips to say the least (depend on pairs).[Acknowledge grade A is not that common, so we can accept a higher buy stop pips and thus SL within MM limits...Have I answer my own qns?]

2) Is my understanding of train theory correct?
I use the image below to illustrate my point.( Just to check Point A is a bond hammer - it is not swing low per se abt 1 pip higher than the big white bar beside the doji, pls clarified if I am wrong).

Base on train theory, we will should enter at A (assuming we indentified it as a valid trade set up...I wont enter here actually as all the bosses and slave is pointing down with increase momentum...someone somewhere must have put alot of weight to cos that about turn...some funny mentals?), then offload at B, increase our position at C, offload at D and then increase position at E...so on and so forth until G (rising 3 candlestick pattern) which show continuance pattern into "Fat city".

3) Base on that chart, a retrace will be a good entry ya?(not for me ...not even suppose to demo trade ).

Cheers
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  • #2,938
  • May 12, 2009 11:50pm May 12, 2009 11:50pm
For those with small accounts that limit you when you need a large stop loss I recommend checking out Oanda. They let you enter a trade with any amount that you want, so even 300 pip stop loss can be 1% of you account no matter how small it is. The only problem is their charting is no good so you will need an MT4 demo for that.
  • #2,939
  • May 12, 2009 11:53pm May 12, 2009 11:53pm
Quoting strat

Does this answer it?
Yes that helps, thanks
I didn't know about the elastic theory, now that I looked at my charts I can see how it works
  • #2,940
  • May 12, 2009 11:55pm May 12, 2009 11:55pm
Quoting fountaintree
Hi Strart and fellow thread members,

Thanks for the clarification .

However, I am afraid the clarification raised more qns....

I draw your attention to post #720 which reference to the train analogue.
Combine with your reply to me at #2903. I formed the following conclusion:
That is some serious thread research and analysis fountaintree. I am impressed, and your conclusion is very insightful. Keep it up!
Bang.
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