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  • #4,421
  • Aug 5, 2009 1:26am Aug 5, 2009 1:26am
Im still here........

Just to update you guys were im at.As you may or may not know there are platforms which are called ECNs or instant execution.These platforms have a 0.05 pip spread but you pay a commision further more you can go break even and have a stop of 0.05 pips and you suffer no bouncing back in orders.
You can merge positions,place limit orders and choose to enter on the bid and ask sides of the spread.
Such freedoms has radicaly changed the way i view the markets and the oppotunities there in.

July finished up dispite a couple of head bangings at the end longing cable....which she did in the end.

Getting into the heart of the system im trading which i feel is not for the trader with less than 5 years...im still a newbie.
6am-6pm mon-fri are my trading times but im looking forward to a long weekend this week with rate days and the nfp.........so today is friday for me yes yes yes.

any qustions dont hesitate to ask...........your Baba G
  • #4,422
  • Aug 5, 2009 1:27am Aug 5, 2009 1:27am
Quoting strat
Last time I spoke with him, he was looking for more balls
nice balls!!!!!
  • #4,423
  • Aug 5, 2009 1:35am Aug 5, 2009 1:35am
Quoting PaulKing
Hi Grim

Thanks for the light relief... so is it all to do with the way a prism splits light out? Magenta & Yellow seem to be the trigger; I'll change my bull candles to Yellow and bear to Magenta & then everything will be revealed!

take care & keep educating us about trading with the trend no matter what the BBC are broadcasting

[color=black][font=Verdana][FONT=Trebuchet...
Paul july finished 10.3% up and i tell you Strat IS a great Trader with alot more trigger time than me.
PASR is just that PASR on any time frame so dont stop learning,reaching and studying whats on this thread.....its Gold!!!!!
  • #4,424
  • Aug 5, 2009 1:47am Aug 5, 2009 1:47am
Quoting Baba G
Im still here........

Just to update you guys were im at.As you may or may not know there are platforms which are called ECNs or instant execution.These platforms have a 0.05 pip spread but you pay a commision further more you can go break even and have a stop of 0.05 pips and you suffer no bouncing back in orders.
You can merge positions,place limit orders and choose to enter on the bid and ask sides of the spread.
Such freedoms has radicaly changed the way i view the markets and the oppotunities there in.

July finished up dispite a couple...

Hey Baba G,

I have a few ?'s

And i dont mean them to be directed directly at you but your post sparked it. Why spend all this time and hard work to learn something that is requiring more work to be put in than reward given? Do you truly feel that by mastering these lower TF's you will be a more sucessfull trader? Or is it just a challenge to you?

Im kind of curious as to why strat has been posting about the lower TF's too?? is it to show us how ridiculous this kind of trading is?

I am very interested in sticking with the dailies and weeklys and see no point in going any lower if you can trade them profitably. I mean why spend all that time and STRESS??

I have been reading a lot of J16 lately and it seems many of the old timers there started off on the dailies and have since worked there way down, spending more and MORE time at the charts.

I guess im just having a hard time understanding why ppl move down to the lower TF's after they have already proved they can make money in the big trends on the dailies??
  • #4,425
  • Aug 5, 2009 3:26am Aug 5, 2009 3:26am
Quoting CrudeCraig
Hey Baba G,

I have a few ?'s

And i dont mean them to be directed directly at you but your post sparked it. Why spend all this time and hard work to learn something that is requiring more work to be put in than reward given? Do you truly feel that by mastering these lower TF's you will be a more sucessfull trader? Or is it just a challenge to you?

Im kind of curious as to why strat has been posting about the lower TF's too?? is it to show us how ridiculous this kind of trading is?

I am very interested in sticking with the dailies and weeklys...
Good question......firstly you stick to the D1 and W1 time frames 100%.

Secondly i think the old timers are sharing there LTF work to show that ONCE you have PASR down there is NO stress anywhere....even in the "pitt" as i call it.Thats why im sharing my shizzer.

For me my LTF work is just another string to my bow and works well along side my medium to long term position trades......which is what we teach here.

For example ive been at my desk for 3 hours and i just had a nice south bound pin bar on usd/jpy in the pitt(15s)....it did a 1;1 in about 15 mins...as i risk 1% i just did 1%....i was B/E in 5 mins.....job done.day done week done.

As a buisness man i cant pass up that opp(i just had a b/e on a beob on eur/gb while im writing)

I find it no more or less of a challenge than the D and W its all the same....

Being a full time money manager i got nothing else to do and im 1 % up this week and as i got a long weekend its not so bad

let me know what your thinking keep the Qs coming
  • #4,426
  • Aug 5, 2009 3:30am Aug 5, 2009 3:30am
update eur/gbp

after being B/E and out she just fell to target......emotion on that zero
  • #4,427
  • Aug 5, 2009 3:36am Aug 5, 2009 3:36am
ok a little bit cheesed off......lol

I put too much mozzarella in that pizza anyway....
  • #4,428
  • Aug 5, 2009 3:39am Aug 5, 2009 3:39am
limit sell off 1.69992 cable at B/E price at 1.68840 over and out.....
  • #4,429
  • Aug 5, 2009 3:41am Aug 5, 2009 3:41am
1.6973 and holding.......
  • #4,430
  • Aug 5, 2009 3:46am Aug 5, 2009 3:46am
done there....
  • #4,431
  • Aug 5, 2009 4:03am Aug 5, 2009 4:03am
This is the vibe its just PASR....on cable it was a10pip stop for a 20pip gain....see?
  • #4,432
  • Aug 5, 2009 4:56am Aug 5, 2009 4:56am
Quoting Naws
I know we were looking for building support at 1.0780 but price has broken it. Half an hour to go until NY close and price has tested the s/r forming an IB. I think this will be a good place to go short

Attachment
Still building support - look at the BOSS.
15 YEARS OF PASR ON FOREX FACTORY!
  • #4,433
  • Aug 5, 2009 5:01am Aug 5, 2009 5:01am
Quoting CrudeCraig
Aud/Chf

Todays daily candle closed as the third IB @ major S/R level of .9000.

61.8 Fib from the big move south, weekly 200ema @ .9050 and a monthly hanging man off of the .9000 level.

Eur/Aud

Looks to be bottoming out here at the 1.7100 level, Price is up against the weekly 365. looking for a bueb to go long from here.

Eur/Chf

Passed up putting in a sell stop below the weekly SS on sunday but the daily has now just closed as a SS, Seems like a no brainer to me to go short now on the break of the daily SS for a better entry. Or should...
Nothing like a shooting star - the wick needs to be above everything else and touching resistance - don't think Bond would have gone there!
15 YEARS OF PASR ON FOREX FACTORY!
  • #4,434
  • Aug 5, 2009 5:06am Aug 5, 2009 5:06am
Quoting PaulKing
Hi Grim

Thanks for the light relief... so is it all to do with the way a prism splits light out? Magenta & Yellow seem to be the trigger; I'll change my bull candles to Yellow and bear to Magenta & then everything will be revealed!

take care & keep educating us about trading with the trend no matter what the BBC are broadcasting

[color=black][font=Verdana][FONT=Trebuchet...
Far from 100% Paul - if you go back to that "other" thread, it is more like 20% but then that was using "their" system and not PASR.
15 YEARS OF PASR ON FOREX FACTORY!
  • #4,435
  • Aug 5, 2009 6:26am Aug 5, 2009 6:26am
Quoting strat
Still building support - look at the BOSS.
Agree, a close above 1.0760 will be the first positive sign, then we may see a weekly hammer, wait and see.
  • #4,436
  • Aug 5, 2009 9:51am Aug 5, 2009 9:51am
Just an observation, Strat knows I have many wierd and 'not so ordinary 'ways of looking at these markets. One thing I noticed today that I've been waiting for was a balancing act on the Cable chart. I call this a Harmonic wave.

On 28/11/2005 Cable reached a low of 1.7047 and while today is not finished yet we have had a high on my feed of 1.7042. Throw in a few pips for the spread and it's as near as damm it to a full circle.

When this happens price would normally back of for a while and then come again and go on to ( in this case ) make a higher high. As I type this Cable has already dropped 100 pips in the last 3 hours which makes me think it's already peaked for now.

Like strat I have a way of measuring cycles and my Daily is very close to topping, It would be interesting to know if strat's daily is doing the same. Regardless, my Daily doesn't close for another 10 hours so will wait untill then to make a decision.

Roy
Attached Image (click to enlarge)
Click to Enlarge Name: Cable 45 Month Cycle.jpg Size: 44 KB
Polishing my crystal ball
  • #4,437
  • Edited 8:15pm Aug 5, 2009 7:02pm | Edited 8:15pm
Quoting 30XTCi
Just an observation, Strat knows I have many weird and 'not so ordinary 'ways of looking at these markets. One thing I noticed today that I've been waiting for was a balancing act on the Cable chart. I call this a Harmonic wave.

On 28/11/2005 Cable reached a low of 1.7047 and while today is not finished yet we have had a high on my feed of 1.7042. Throw in a few pips for the spread and it's as near as damm it to a full circle.

When this happens price would normally back of for a while and then come again and go on to ( in this case ) make a...
Hey Dai Bach, boyo!

My first cycle top warning on the Worker came on August 3 at psycho 1.7000. The last 2 days hasn't done anything except confirm 1.7000 as bloody tough resistance which is only to be expected. Strange though I don't have a full blooded warning on the BOSS - only a half cocked one - maybe it needs another week to confirm (or otherwise).

Glad you're still around Roy.
15 YEARS OF PASR ON FOREX FACTORY!
  • #4,438
  • Aug 5, 2009 8:36pm Aug 5, 2009 8:36pm
Quoting CrudeCraig
Hey Baba G,

I have a few ?'s

And i dont mean them to be directed directly at you but your post sparked it. Why spend all this time and hard work to learn something that is requiring more work to be put in than reward given? Do you truly feel that by mastering these lower TF's you will be a more sucessfull trader? Or is it just a challenge to you?

Im kind of curious as to why strat has been posting about the lower TF's too?? is it to show us how ridiculous this kind of trading is?

I am very interested in sticking with the dailies and weeklys...
“”Im kind of curious as to why strat has been posting about the lower TF's too?? is it to show us how ridiculous this kind of trading is?

I am very interested in sticking with the dailies and weeklys and see no point in going any lower if you can trade them profitably. I mean why spend all that time and STRESS??””

Very valid points, Craig, and deserving of my explanation.

A while back, we had a post asking us about shorter time frames. I discussed this with pizza man and we agreed we should look into shorter time frames so that eventually we can offer trading for traders of most time frames. Pizza man already had something lined up for M15 so he decided to take that out for a spin. I promised I would review all my other systems and see if I could come up with something for M15 that was reliable and consistent.

My first thought was to use my cycles with PASR so that’s what my first 2 trades were. While they both turned out pretty good (in the end), actually trading the damned thing was torture for me. Since I’m used to the pedantic pace of the Worker and BOSS, candles moving up and down starting out as a bullish hammer, moving to a bearish red bar and ending up a bullish bar all in one M15 candle “does me ‘ead in!”. I flipped over to M5 on a couple of occasions and as you can imagine, it was 3 times faster and painful.

As I have said many times, the PASR and technicals at these shorter time frames are nowhere near as reliable as we are used to on the Worker and above. Because the prices are moving about so much and therefore anything that tracks prices, my cycles are also unstable and not as reliable as I would like them at these shorter time frames.

Add to this that to trade these shorter time frames, you have to be trading either the London or NY session and preferably both since you need to be trading volatility. For me on the US West Coast, this is not very practical, so another strike against it.

Something else that short time frame traders will not tell you is that your pip haul, since it is now dependent on a much narrower and smaller pip range, is very inconsistent. When the big boys are not playing and it is only us little runts in the market, the moves are small and ranging causing most of these days to be losers (especially after considering spreads). You can see this on the various M5 threads where they bitch and moan that their system is not working and then next day it's the best thing since sliced bread. They really don’t understand that any system works great on a 200 pip move! The big secret is being there, in the right place at the right time when these big moves occur.

Something else that should be obvious is that trends (if you can call them that) on these shorter time frames are shorter, very “noisy” and less “smooth” and much more difficult to enter and hang on to.

Success on these shorter time frames is not as much in whatever method/strategy/system you use but in your mentality and especially trading flexibility. For someone like me who likes to sit in (sometimes through 1000 pips retraces) and add to Worker and BOSS trends, having to get in and out of and change direction every 10 or so pips, is like having to learn a new language.

However, it did occur to me that maybe M15 could be used in a “scalping “ strategy to reap consistent daily profits. If this was possible, it would help smooth out our equity peaks and valleys of the higher time frames. Again, this is a180 degree shift for me as it would mean increasing my $/pip contract value to levels I’m not used to managing.

Doing this would/should reduce the amount of screen time with the one eyed monster and all the stress and frustrations that go with it so I’m now looking at (1) what is a consistent number of pips per pair on M15 and (2) a method/strategy/system to harness these pips on a regular and consistent basis. So for you guys already doing this, I’m all ears and eyes if you want to share.

Still on the shorter time frames, I will be looking again at my systems/methods to do the same but on H1 and H4. We already have contributors on this thread trading these time frames so I will be consulting with them.

The bottom line is that trading the Worker and above remains the most profitable and stress free business that I know and will therefore always be the emphasis of this thread.

15 YEARS OF PASR ON FOREX FACTORY!
  • #4,439
  • Aug 5, 2009 9:17pm Aug 5, 2009 9:17pm
August 8th 2009 will be the 1 year anniversary of the Beijing Olympics.

“What the hell has this to do with trading”, I hear you mumble in to your bottle of Butwiper.

With the superstition the Chinese have for “8”, it means everything. For those that don’t know, the Opening Ceremony of the Beijing Olympics commenced 8 seconds after the 8th minute of the 8th hour on the 8th day of the 8th month of the 8th year in the new Millennium.

“Big deal”, you say swigging another mouthful of Butwiper, “So?”.

While the rest of the world was in awe with the Beijing Olympics, the Chinese Government was selling the ass out of the Euro and buying US Dollars like they were soon to be as scarce as rocking horse shit! A nice 2500 pip sell off.

Still don’t get it? Try a bottle of REAL beer!

The Chinese OWN the USA!

Hard pill to swallow but it's the truth. China owns all the $11.4 trillions of US debt.

China needs a STRONG US Dollar. Do you think they will let the US Dollar continue to fall against the Euro? Think again Gungadin!

I don’t know what the level will be, but I will bet all I have that there is a level where the Chinese say “enough is enough” and start the sell off to bring strength back to the US Dollar.

Technically, we are approaching psycho 1.4500 and a 61.8% retrace of the previous big down move so for me, it’s just around the corner and while August 8th may not be it, it's the storm on the horizon!

15 YEARS OF PASR ON FOREX FACTORY!
  • #4,440
  • Aug 5, 2009 10:41pm Aug 5, 2009 10:41pm
Quoting strat
Thank you, Paul. I'm really glad you have now reached the point where you understand the importance that your trading psychology has in your trading.

To all others who read this post and are not interested because it is not about set ups, PASR or trading, I will tell you that you will regret this and one day, and, it will come when you don't understand why you keep losing, one day you will come back to this and wish you had studied it and taken notice earlier.

I fought and resisted this for years and it was only when I accepted that my performance...
Hi Strat and friends,

I hope everyone is doing well today. I wanted to touch base with everyone and thank you for posting your trades and analysis. I am still studying each one carefully and learning from all.

I am up to July 19 on the posts and wanted to comment on the one quoted above (http://www.forexfactory.com/showpost...postcount=4162)

I have a perfect example of a trade I entered in mid July that illustrated how your mind is your best analysis tool, and can be your worst enemy, just as you say.

The trade I am going to present shows how my lack of experience, lack of confidence in the system, and fear of loss mainly, caused me to doubt my analysis -- and ultimately lead to me talking myself into closing my trade. I did not follow my plan. A mistake that would have cost me at least 400 pips of potential profit. Fortunately I am on a demo account.

I did learn however.

I don't have time to post it here now, but I will describe it tomorrow if possible.

I have to run, but again, I am learning and hope to be more helpful here in the future.

Dave
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