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  • #2,961
  • May 13, 2009 8:37pm May 13, 2009 8:37pm
Quoting Blackeagle
Yes, I do that to be able to see a more clear picture and when you do that, you'll see wicks are not that important when drawing TLs (though I use them in special cases, rarely). Btw, you may remove the upper TL since 4/20, 21 bars are not as significant as 4/28 bar, at least for me.
Me too, that was my BIG problem
15 YEARS OF PASR ON FOREX FACTORY!
  • #2,962
  • May 13, 2009 8:43pm May 13, 2009 8:43pm
Quoting kiwi_trader
Strat,

The answer to changing the time in MT4 is no and yes.

No you can't. But yes there is a converter to change it as an indicator.

http://www.forexfactory.com/showthread.php?t=168562
http://www.forexfactory.com/showthread.php?p=249706

So you can arrange to have candles that start at the time you'd like.
Kiwi trader, thank you ever so much for going to all this effort on my behalf, I really do appreciate it. Unfortunately, I won't be using the period converter as , although I am using the very latest MT4 build, each time I put period converter on it CRASHES my charts BIG TIME. It may be due to all my work on my cycles, momentum and momentum cycles, I don't know, but they are far more important than messing with the close.

Thank you again, my friend.
15 YEARS OF PASR ON FOREX FACTORY!
  • #2,963
  • May 13, 2009 8:49pm May 13, 2009 8:49pm
Quoting Grimweasel
Looked back over some trading notes over the past few days and what I managed to glean from them is that I have some sort of psychological issue in that I have an inability to trade with the trend. What seems like a simple process for me is actually very hard.

[color=black][font=Verdana]My major flaw seems to be trying to 'out smart' the market and trying to pick tops and bottoms - not randomly as such, but using PASR where I have not judged with necessary levels of momentum. So, picking hammers etc against...
Danny, it all comes down to what you've done before in the past. If you can't start with a blank sheet and an open mind and learn PASR, you will carry your scars forward where ever you go and whatever method you use. I've been in your shoes, mate. You have to reach that point where you throw EVERYTHING out and start a new. Until you reach that point and CONFESS to yourself that you don't know shit, you are going to trade with inherent bad habits.

Sorry, but it's the hard truth
15 YEARS OF PASR ON FOREX FACTORY!
  • #2,964
  • May 13, 2009 8:52pm May 13, 2009 8:52pm
Quoting haircut
Thanks Strat...firstly my handle comes from a sketch on a tv show called the Mary Whitehouse experience from 1990 and I went to school the next day and was called haircut and the nickname has stuck ever since many people do not know my real name!!!

I have read and understood all your points above and will not be looking for a head and shoulders formation again as I obviously do not know what one is ha ha ha.

Sorry I mentioned how many pips I closed the first half of the trade for will not happen again!!!.


As for the last half I am going to adjust...
Good lad, see if you can manage this as a "trend" trade then. I will watch your progress with interest.
15 YEARS OF PASR ON FOREX FACTORY!
  • #2,965
  • May 13, 2009 8:59pm May 13, 2009 8:59pm
Quoting Lotuselanman
USD CHF...
Doing good, Christopher, doing good.

Just one point: ""Boss is in strong down trend although the current candle (obviously not completed until Friday) is bullish""

You cannot consider a candle "BULLISH" unless it TAKES OUT the high of the previous bar.
15 YEARS OF PASR ON FOREX FACTORY!
  • #2,966
  • May 13, 2009 9:01pm May 13, 2009 9:01pm
Quoting FxPippy
Hi Team

On checking my charts I see on AusUsd - double high low close, but it's against the prevailing trend. It's a Counter Trend trade, & the last 4 bars have tested a pre drawn trend line from July 08.

Very similar for NzdUsd.

However, I will not be taking them as I, as per Strat's rules, I'm only to trade shooting stars and hammers, respectively in a trend.

usd Jpy and CadJpy todays bars have touched pre drawn trend lines from Jan 09 & feb 09, I will be watching this TL area.

...will carry on checking the others...
That's the style Nicole, preservation of capital before greed. Doing good girl!
15 YEARS OF PASR ON FOREX FACTORY!
  • #2,967
  • May 13, 2009 9:03pm May 13, 2009 9:03pm
Quoting rgrace
I saw that as well, it is not a double high on my data, but it is almost a Bearish Engulfing, just a couple pips to engulf the low. But, like you no trades without a star or hammer. Also a fairly nice Bearish Engulfing on NZD/USD, again it is against the trend and not a star or hammer.
You are going to do VERY WELL, young Mr Grace!
15 YEARS OF PASR ON FOREX FACTORY!
  • #2,968
  • May 13, 2009 9:22pm May 13, 2009 9:22pm
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:

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,...
Fountaintree,

I am very impressed that you are reading the thread in such depth without racing to get to the end so that you can start trading. Well done. All new people starting out on The Path, please take note.

""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?]""

The transition from one trend to another is THE MOST difficult and RISKIEST area in trend trading. We never know for sure that the prevailing trend has finished and keep looking for PASR to tell us that. Then when we feel pretty good that one trend has ended, we never know whether we are going straight into the next trend or a consolidation/ranging market. Most of the time, after a trend, the market consolidates and the bigger, longer, stronger the trend, the longer the consolidation. If you think about it, this makes sense, because there are a lot of traders with positions to unload who are not certain that the trend has ended and then there are traders who think the next trend has started and are jumping on. Add to this the big boys (who drive the market) have probably lost interest after unloading their positions and are looking at other pairs.

“”Taking positions

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".””

Fountaintree, you cannot and MUST not use my EURJPY as a template for trend trading. Each situation is UNIQUE and DICTATED by the MARKET. I, nor anyone else, has CONTROL over the market and as such we have to ADAPT to each situation as it presents itself. One trend trade to the next can be, AND USUALLY IS, different to the next. FORGET everything about increasing positions UNTIL you are consistently profitable over at least 3 years on ONE CONTRACT. One thing I CAN guarantee is that if you try to compound or increase your position size before ever being consistently profitable over AT LEAST 3 years, you WILL lose and LOSE big. I’ve been there, done it and LOST BIG TIME.

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

Fountaintree, as much as I applaud you for studying to this depth and detail, I MUST tell you to forget this. This is ADVANCED TRADING that even many experienced traders cannot do, for one reason or another.

Concentrate and focus on basic PASR, learn that until you can do it in your sleep and if you can show a consistent equity growth over 3 years, I PROMISE I will show you how to trend trade as per my method. Deal?
15 YEARS OF PASR ON FOREX FACTORY!
  • #2,969
  • May 13, 2009 9:35pm May 13, 2009 9:35pm
Quoting One14
I did see a trend retracing, but my retrace calculation (Fib) was closer to 50%.

So I ask myself..."Self...did I measure differently than Strat?"

I measured from the low of Jan 21 (112.06) to the high of Apr 06 (137.42) including the wicks.

Our data can't be off that many pips.
No, you measured correctly. I can't re-create my 61.8% so no clue - but at least you get the idea.
15 YEARS OF PASR ON FOREX FACTORY!
  • #2,970
  • May 13, 2009 9:37pm May 13, 2009 9:37pm
Quoting patrick25
Hi All,

EURUSD

What a price action to watch eurusd reacting to 3700 level. Yesterday candle earlier hit 3700 and rejected hard but came back closed near 3700. Today candle took out yesterday high and closed below 3580 which has been minor support for last two days. Today price action is pretty bearish and no Strat, I am not trying to sell something just comments.
No problem in commenting, patrick.
15 YEARS OF PASR ON FOREX FACTORY!
  • #2,971
  • May 13, 2009 9:46pm May 13, 2009 9:46pm
I hope you are all watching and waiting. We have strong trends in both directions that are retracing ( at this point). We should be watching and looking for signs that the retrace will end. If you don't know what the signs are then you need to go back to the beginning of The Path of Learning.

For those that know the signs, KEEP THE PATIENCE and wait for PASR - do not jump the gun! The Queen has been kind to her serfs over the last couple of weeks so must be becoming impatient for some heads to roll. Make sure the head that rolls are NOT yours!

And if the retrace doesn't end..........................
15 YEARS OF PASR ON FOREX FACTORY!
  • #2,972
  • May 13, 2009 10:22pm May 13, 2009 10:22pm
Quoting strat
I hope you are all watching and waiting. We have strong trends in both directions that are retracing ( at this point). We should be watching and looking for signs that the retrace will end. If you don't know what the signs are then you need to go back to the beginning of The Path of Learning.

For those that know the signs, KEEP THE PATIENCE and wait for PASR - do not jump the gun! The Queen has been kind to her serfs over the last couple of weeks so must be becoming impatient for some heads to roll. Make sure the head that rolls are NOT yours!...
This thread is not only good for trading, brain stimulation alone can cure alzheimer. Six little words have hidden a lot of information "And if the retrace doesn't end ........." Thanks for the brain food.
  • #2,973
  • May 13, 2009 10:22pm May 13, 2009 10:22pm
Quoting Baba G
guys you gotta go to "you tube" and see the "whipsaw song".....right now
haha that should be the theme song of this thread
  • #2,974
  • May 14, 2009 2:46am May 14, 2009 2:46am
Quoting strat
Danny, it all comes down to what you've done before in the past. If you can't start with a blank sheet and an open mind and learn PASR, you will carry your scars forward where ever you go and whatever method you use. I've been in your shoes, mate. You have to reach that point where you throw EVERYTHING out and start a new. Until you reach that point and CONFESS to yourself that you don't know shit, you are going to trade with inherent bad habits.
Quoting strat

Sorry, but it's...



Thanks Strat - I've gone back to basics again like you have said. I was never comfortable in the 'other place' as the Heiken Ashe candles hid the PA in my view - it was like an cop out, hiding the true action; and as for the 15m stress inducing TF - never again!!! I recall when I first started out a few years back, the PA window was one of about 6 on my charts with 5 indicator windows below churning out their historical junk.
Charts have been stripped back now for a few months, just candles, MAs and some horizontal and diagonal lines, with a two day period of 'errant' indicator action over the weekend.

Having gone back over the charts and looking at some of the reversals they rarely flick from up to down without a period of re-tests and consolidation. USDCAD is a classic example from late last year. A triple top with the 3rd top ending in a classic Shooting Star. It all boils down to patience, or lack of. It's like someone once said, the markets are the place where all your personal imperfections are laid out bare, amplified and their true destructive forces are unleashed.

So, more work on patience firstly. Days of old would have seen me taking the bounce off the ascending TL on gbpyen this morning as a good enough reason to get in back with a trend. No PA per se, just the bounce and the fact it looked like it would go up. But, since coming to this thread I'm starting to get the patience and thorough analysis necessary to survive in this business and wait for the necessary PA, retest and PA again.

Back to the path......
Trade less and become more profitable!
  • #2,975
  • May 14, 2009 4:05am May 14, 2009 4:05am
Quoting strat
I hope you are all watching and waiting. We have strong trends in both directions that are retracing ( at this point). We should be watching and looking for signs that the retrace will end. If you don't know what the signs are then you need to go back to the beginning of The Path of Learning.

For those that know the signs, KEEP THE PATIENCE and wait for PASR - do not jump the gun! The Queen has been kind to her serfs over the last couple of weeks so must be becoming impatient for some heads to roll. Make sure the head that rolls are NOT yours!

And...
Id like to second that.........
  • #2,976
  • May 14, 2009 4:06am May 14, 2009 4:06am
Quoting Naws
haha that should be the theme song of this thread
Its great,,,,,im glad you liked it...hows your trading pal?
  • #2,977
  • May 14, 2009 4:35am May 14, 2009 4:35am
Quoting Baba G
Its great,,,,,im glad you liked it...hows your trading pal?
Hey Baba G!
How are you? - Your musings have reverted to plausible English - I used to enjoy having to run your posts thru my Enigma machine for deciphering!! He he!

Hope you are well, and watching the markets, waiting for the ace to be dealt!
Trade less and become more profitable!
  • #2,978
  • May 14, 2009 4:38am May 14, 2009 4:38am
Grimbo......well people said i sounded like a pratt(which i am...cause im a money manager).....how was the kiwi short final score...get out at even?
  • #2,979
  • Edited 7:59am May 14, 2009 4:40am | Edited 7:59am
Quoting Baba G
Grimbo......well people said i sounded like a pratt(which i am...cause im a money manager).....how was the kiwi short final score...get out at even?
If i say JAMES....does your butt ring engage?
  • #2,980
  • May 14, 2009 4:52am May 14, 2009 4:52am
Right i was gonna do this private style for the Astonian but i wanna spread the word according to Brian;(please read the next section in a German/Swiss accent to reveal ze full power of ze structure!)

First we take 3% of our capital....so lets say gbp 2000 will be 60 gbp.
Zen we divide zis number by ze stop...ie 350 pip which give us 17 pence a pip.
zen if you like you divide zis by the chunks you want.....zo i say divide by 3 zo its 5 p a pip on each chunk.

Zen you trade and make money....ze end


Any question to "Ze swiss/german institute of ze money management zyztem of ze Baba von G" danke
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