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Strat's Long Term Stress Free Trading

  • #4,501
  • Aug 11, 2009 11:53pm Aug 11, 2009 11:53pm
What happened to Lance and the pick awards, are we not doing that anymore?
  • #4,502
  • Aug 12, 2009 12:22am Aug 12, 2009 12:22am
Quoting Naws
What happened to Lance and the pick awards, are we not doing that anymore?
As much as I would love to continue and further that and the Index, it seems Lance (rogueforex) has dropped off the face of the Earth without explanation.

If there are volunteers to continue the good work Lance started with the same quality and enthusiasm, please let me know.
15 YEARS OF PASR ON FOREX FACTORY!
  • #4,503
  • Aug 12, 2009 4:00am Aug 12, 2009 4:00am
Quoting strat
Danny, you are doing good with the analysis (keep a close watch as price approaches the "critical support" level) but your art work is atrocious!

I was going to post a chart with all your information on presented in a better manner (to me) but I do understand it is a personal thing. I just know that our subconscious is very easily distracted by these small, seemingly meaningless details.
Strat,
Thanks for the comments - I've been round the houses with the various colours on my charts over the years; I just find that black is better as I hate bright lights / white etc as I end up squinting all the time. The white surround to the candles helps me really focus on each candle.

I do however struggle a little with my SR and TLs as I find it a little laborious to keep changing the colour and thickness on MT4. Pity there is not an easeir way, unless I'm missing something. I have the big thick Boss MAs so that I never forget the direction when I'm down in the weeds on the worker chart!

Still, always open to new ways of looking at stuff, so I wouldn't be at all offended if you were to post an 'ideal' looking chart as you would look at it on your post-daily sweep of the pairs!
Trade less and become more profitable!
  • #4,504
  • Aug 12, 2009 8:01am Aug 12, 2009 8:01am
Robbing people with a six gun – I Fought the Law – Sonny Curtis/Crickets 1959

More like with a water pistol me thinks!

Bored with some other stuff I was doing, I noticed the time and wondered what the London boys were doing with the old girl at 1.4160. I pulled out my trusty old M15 and, shiver me timbers, Jim lad, saw they had got her down to support at psycho 1.4100.

“”If I see a bullish candle down here, it should be easy money back up to their beloved 1.4160””, I told my laptop. Well the London boys duly obliged at 6:45 EST and put in a huge BUEB, just 1 pip short of a BUOB. Game on lad, I thought and put in my buy order above the BUEB/BUOB. Well true to form, it was plain sailing all the way to 1.4160 at 9:00 EST – so much so that I could not ignore the FAT CITY signs at 7:45 and 8:15 EST and unashamedly duly loaded up big time, the old bandwagon - talk about an ATM trade – this was more like robbing Fort Knox!

Thoughts of maybe I need to trade in my six gun for whatever Jacko uses crossed my mind so that I too can trade $2,000+ per pip – er, I don’t think so – I would need to borrow his balls as well!

This shows the importance of not only knowing, but understanding as well, S&R, particularly when you have equilibrium. I hope many of you caught this especially as I have been posting that “magic number” in I don’t know how many recent posts.

I tried to post this straight after my trade but for some reason I have had difficulty all day trying to access FF. Maybe it’s because I’m in China who have now put filters and blockers on their servers.

PS: I did think of a quick sell down to the 50 especially when I saw our good friend the Shooting Star but didn’t want to push my luck! As it happens it would have been another quick xx pips, but that's hindsight.

Well, a couple of hours later and where is she dancing around? As Roy Orbison said, “You Got It”, 1.4160!
Attached Image (click to enlarge)
Click to Enlarge Name: bank robber.gif Size: 23 KB
15 YEARS OF PASR ON FOREX FACTORY!
  • #4,505
  • Aug 12, 2009 8:38am Aug 12, 2009 8:38am
Quoting Grimweasel
Strat,
Thanks for the comments - I've been round the houses with the various colours on my charts over the years; I just find that black is better as I hate bright lights / white etc as I end up squinting all the time. The white surround to the candles helps me really focus on each candle.

I do however struggle a little with my SR and TLs as I find it a little laborious to keep changing the colour and thickness on MT4. Pity there is not an easeir way, unless I'm missing something....
I agree 100% on the white background, Danny. Many studies have shown it causes eye strain and other serious eye problems. I only post white backgrounds on the thread because it is easier to read and saves ink for those wishing to print posts.

Here’s my version of your chart with your information on it with my comments. I used to use black but found the contrast too strong when putting up other colours so now I use Light Gray as my background.

Again, it is all a matter of personal choice.
Attached Image (click to enlarge)
Click to Enlarge Name: danny boy.gif Size: 35 KB
15 YEARS OF PASR ON FOREX FACTORY!
  • #4,506
  • Aug 12, 2009 9:08am Aug 12, 2009 9:08am
Quoting strat
I agree 100% on the white background, Danny. Many studies have shown it causes eye strain and other serious eye problems. I only post white backgrounds on the thread because it is easier to read and saves ink for those wishing to print posts.

Here’s my version of your chart with your information on it with my comments. I used to use black but found the contrast too strong when putting up other colours so now I use Light Gray as my background.

Again, it is all a matter of personal choice....
Thanks Strat - that is a nice clear chart and the PA really stands out - I will give it a whirl on a few charts for a while and see how I get on. The dashed Boss MAs are better too although I may leave them thick - I'll keep you posted! Thanks again old chap!
Trade less and become more profitable!
  • #4,507
  • Aug 12, 2009 3:55pm Aug 12, 2009 3:55pm
OK Strat. I see enough on the EURUSD and EURJPY daily charts to pull the trigger here. I am aware of the weekly look. There seems to be a growing short consensus on the part of many commercial advisors which eases my mind.
  • #4,508
  • Aug 12, 2009 4:01pm Aug 12, 2009 4:01pm
Quoting Alexandra
OK Strat. I see enough on the EURUSD and EURJPY daily charts to pull the trigger here. I am aware of the weekly look. There seems to be a growing short consensus on the part of many commercial advisors which eases my mind.
I have a BUOB on my feed Alexandra? But the close is still within the 20/50 trap - and I like to these these at swing lows not that high up. But then again the DJI was bullish this PM and many pairs against the dollar now appear slightly bullish?
Seems a confusing and muddled picture so I may stand aside. nzdusd bounced straight off the support along the top at .6606 ish. See what tomorrow's close brings. ;(
Trade less and become more profitable!
  • #4,509
  • Aug 12, 2009 4:05pm Aug 12, 2009 4:05pm
Quoting Alexandra
OK Strat. I see enough on the EURUSD and EURJPY daily charts to pull the trigger here. I am aware of the weekly look. There seems to be a growing short consensus on the part of many commercial advisors which eases my mind.
Can you share what position you are taking and why?

Thanks!

Corbett
  • #4,510
  • Aug 12, 2009 4:43pm Aug 12, 2009 4:43pm
USDCAD - BEOB on my feed - may see $ weakness again just as I thought it may be gaining a bit of strength again. Weak summer trading - roll on trending October!!!!
Trade less and become more profitable!
  • #4,511
  • Aug 12, 2009 6:56pm Aug 12, 2009 6:56pm
Quoting Alexandra
OK Strat. I see enough on the EURUSD and EURJPY daily charts to pull the trigger here. I am aware of the weekly look. There seems to be a growing short consensus on the part of many commercial advisors which eases my mind.
EURUSD successfully tested support and looks good for 1.4290 and then maybe a re-test of the high at psycho 1.4400 - where it goes after that I'm really not sure.

EURJPY is the weaker of the two having tested support again but seems limited to psycho 139.00

Both BOSSES are anemic and not really helpful as they could break either way.
15 YEARS OF PASR ON FOREX FACTORY!
  • #4,512
  • Aug 12, 2009 7:03pm Aug 12, 2009 7:03pm
Quoting Grimweasel
USDCAD - BEOB on my feed - may see $ weakness again just as I thought it may be gaining a bit of strength again. Weak summer trading - roll on trending October!!!!
The BEOB was a surprise - I expected profit taking at the 38.2% retrace but not a sell off like that. This seriously questions the strength of the support at 1.0740 - maybe it wants a re-test of 1.0250 support. Anyway, definitely time to lock in profits.
15 YEARS OF PASR ON FOREX FACTORY!
  • #4,513
  • Aug 12, 2009 7:05pm Aug 12, 2009 7:05pm
Quoting One14
Can you share what position you are taking and why?

Thanks!

Corbett

Nothing like a direct question -- Long on the daily PA against the weekly support....caution given the overall weekly PA from last week as the market moves higher, however; fortunately enough movement to protect profit at this point; Strat probably has the counter view given the ominous (aka bearish) weekly chart.

Similar view of USDJPY as well described here in the past, but the weekly in that case is more supportive.

One can be profitable both ways if one has defined PA to enter and exit.
  • #4,514
  • Aug 12, 2009 7:06pm Aug 12, 2009 7:06pm
Quoting One14
Can you share what position you are taking and why?

Thanks!

Corbett
She's taking long positions because of retest of support in a trend continuation plus she probably has some funny mentals going on.
15 YEARS OF PASR ON FOREX FACTORY!
  • #4,515
  • Edited 8:36pm Aug 12, 2009 7:35pm | Edited 8:36pm
That's a good point - the USDJPY is a funny mental trade taken in recent months on each technical formation in that direction; however as of the last week the technicals have improved drastically in that market. The EURUSD has always been a more purely technical trade over the last few weeks/months. I should say that I am comfortable with the EURUSD long at this point, but not robustly confident. I really thought that market would have run after that initial break of 1.43; but it's not what one thinks that counts. I will need to see that level tested again and broken to be confident to the point of running with looser stops. If you are looking for a tight long trade overnight, I would view a return below 1.42 as a sign to exit. Holy Moses, did I just give a recommendation....God forbid!
  • #4,516
  • Aug 12, 2009 7:41pm Aug 12, 2009 7:41pm
I am placing a long order on EURUSD too, the BUOB has engulfed the previous 3 bars, and closed above the 20, also its off the support and an upward trendline so seems good to me
  • #4,517
  • Aug 12, 2009 7:43pm Aug 12, 2009 7:43pm
Quoting strat
The BEOB was a surprise - I expected profit taking at the 38.2% retrace but not a sell off like that. This seriously questions the strength of the support at 1.0740 - maybe it wants a re-test of 1.0250 support. Anyway, definitely time to lock in profits.
Do you think its a place to get back in the downtrend? I would if it wasnt for that support right below
  • #4,518
  • Aug 12, 2009 8:56pm Aug 12, 2009 8:56pm
I have attached AUDNZD Daily chart and would like to hear your trade plans based on Strat's teachings.
Attached Image (click to enlarge)
Click to Enlarge Name: AUDNZD-Daily.jpg Size: 182 KB
  • #4,519
  • Aug 12, 2009 9:01pm Aug 12, 2009 9:01pm
Nice movement from EURUSD so far; this area from 4220 up to 43 though will be interesting....a lot of daily baggage from prior weeks in the way....of course, the stress free philosophy says not to watch it until the close.

Really Strat, I have my eyes closed.....well..maybe just a quick peek.....
  • #4,520
  • Aug 12, 2009 9:29pm Aug 12, 2009 9:29pm
Quoting Blackeagle
I have attached AUDNZD Daily chart and would like to hear your trade plans based on Strat's teachings.
I don't think I would trade this pair at the moment, I see a lot of indecisiveness in direction here. Right now we have a bond hammer at a very strong support, but before it is a bond shooting star, and this shows a lack of direction I think. The MA's are sideways, again lack of direction. Price broke the ascending trenline and has retested it which is bearish. Im leaning towards a bearish move but support is holding for now and I don't see any good PA to enter any positions.
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