Strat's Long Term Stress Free Trading | Page 258 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Strat's PASR Long Term, Stress Free Trading 18,592 replies

M5 PASR Trend Trading Strat 95 replies

What you need for trading: indis, a strat & good music 27 replies

Another way to stress free, mechanic long term trading 29 replies

Short Term / Medium Term / Long Term? 3 replies

Attachments: Strat's Long Term Stress Free Trading
Exit Attachments

Strat's Long Term Stress Free Trading

  • #5,141
  • Sep 8, 2009 1:31pm Sep 8, 2009 1:31pm
Quoting golfer27
i can hear those bars from "Mack the Knife" already starting up
You can't beat some Bobby Darin on a Monday afternoon!
15 YEARS OF PASR ON FOREX FACTORY!
  • #5,142
  • Sep 8, 2009 1:42pm Sep 8, 2009 1:42pm
Quoting strat

The beauty about Sunday bars is the low risk. Had they done a stop run, my SL would have been a few pips above the high of the Sunday bar so my loss would only have been about 50 pips. A very easy loss to take!

A 50 pip loss is equivalent to fly shit in a pepper pot when trading the Worker and above.

Now, when trading M15, 50 pips is a big loss. When trading M5, 50 pips is a HUGE loss. It's all relative.
If you risk let's say 2% per trade, it doesn't matter if it is in 50 pips or in 500 pips does it?
alter
  • #5,143
  • Sep 8, 2009 1:49pm Sep 8, 2009 1:49pm
Quoting alter
If you risk let's say 2% per trade, it doesn't matter if it is in 50 pips or in 500 pips does it?
alter
Not in terms of percentages BUT psyche - wise, LOSING 500 pips is a bitter pill to swallow!

If you don't believe me, try it and see what "the little man" says!
15 YEARS OF PASR ON FOREX FACTORY!
  • #5,144
  • Sep 8, 2009 2:03pm Sep 8, 2009 2:03pm
Quoting strat
Not in terms of percentages BUT psyche - wise, LOSING 500 pips is a bitter pill to swallow!

If you don't believe me, try it and see what "the little man" says!
Personally I don know how many pips Im winning or losing, I just know how big is my position and that in the worst case I lose 2% of my account.
I agree that it is not fun to be 2-3 weeks in D{well Im in 3 such a trades}. Maybe it would be easier if Im done in 5 minutes, it is just not style I prefer after past experiences.
  • #5,145
  • Sep 8, 2009 2:12pm Sep 8, 2009 2:12pm
Quoting alter
Personally I don know how many pips Im winning or losing, I just know how big is my position and that in the worst case I lose 2% of my account.
I agree that it is not fun to be 2-3 weeks in D{well Im in 3 such a trades}. Maybe it would be easier if Im done in 5 minutes, it is just not style I prefer after past experiences.
Good, thinking in terms of percentages is a real STEP FORWARD.

BUT, don't MISS the point.

A 500 pip Stop Loss, NO MATTER WHAT THE SIZE OF YOUR TRADING ACCOUNT, is telling you something about the market.

Look at my follow up post - now can you see what that 500 pips was telling you?
15 YEARS OF PASR ON FOREX FACTORY!
  • #5,146
  • Sep 8, 2009 2:45pm Sep 8, 2009 2:45pm
Ok I understand, it tells me that we have a trend on higher timeframes.
  • #5,147
  • Sep 8, 2009 2:55pm Sep 8, 2009 2:55pm
See chart for analysis - comments welcome of course. Ignore second arrow on TL breaks it should point left to the break of the orange line. Sorry. As Dr Joe said, keeps going up till it starts going down. Just wary of long at these levels. We also have a daily hammer and double bottom on usdcad this evening.
Attached Image (click to enlarge)
Click to Enlarge Name: gold.png Size: 108 KB
Trade less and become more profitable!
  • #5,148
  • Sep 8, 2009 3:03pm Sep 8, 2009 3:03pm
Quoting Grimweasel
See chart for analysis - comments welcome of course. Ignore second arrow on TL breaks it should point left to the break of the orange line. Sorry. As Dr Joe said, keeps going up till it starts going down. Just wary of long at these levels. We also have a daily hammer and double bottom on usdcad this evening.
Im going short if it breaks below pin bar.
  • #5,149
  • Sep 8, 2009 3:05pm Sep 8, 2009 3:05pm
Quoting Grimweasel
See chart for analysis - comments welcome of course.
Just a quick Mk I eyeball tells me the Speed/Momentum lines are falling off to the right and with a smaller (less) angle so its either topping or going sideways.

Having said that, there are groups of traders who trade breakouts from ranges regardless of where price is at - the pop bubblegum group who sang "Happy Together".
15 YEARS OF PASR ON FOREX FACTORY!
  • #5,150
  • Sep 8, 2009 4:21pm Sep 8, 2009 4:21pm
Anyone know why the EURUSD rallied today?

Hint: its nothing to do with Gold
15 YEARS OF PASR ON FOREX FACTORY!
  • #5,151
  • Sep 8, 2009 5:11pm Sep 8, 2009 5:11pm
Quoting Grimweasel
See chart for analysis - comments welcome of course. Ignore second arrow on TL breaks it should point left to the break of the orange line. Sorry. As Dr Joe said, keeps going up till it starts going down. Just wary of long at these levels. We also have a daily hammer and double bottom on usdcad this evening.

Comment? The bus has left. AUDJPY, then USDCAD, then AUDUSD, and now EURUSD. Several of which were selected on this forum I might add. AUDJPY was the trigger - off of that combined static and dynamic support from your noble host I believe.
  • #5,152
  • Sep 8, 2009 7:49pm Sep 8, 2009 7:49pm
Quoting strat
Anyone know why the EURUSD rallied today?

Hint: its nothing to do with Gold

LOL - I believe it has to do with that confluence of S/R levels producing that bullish weekly look on your Boss chart! Dynamic and static as you like to put it -- that and the stops above the highs. See if it holds. Should be a long run if it does, though that ugly spike at 1.47 looms.
  • #5,153
  • Sep 8, 2009 7:55pm Sep 8, 2009 7:55pm
Quoting Alexandra
Comment? The bus has left. AUDJPY, then USDCAD, then AUDUSD, and now EURUSD. Several of which were selected on this forum I might add. AUDJPY was the trigger - off of that combined static and dynamic support from your noble host I believe.
Alexandra...did you take the long position in USD/CHF?

Looks like your original thoughts played out (down).

Just curious if you got out.
  • #5,154
  • Sep 8, 2009 8:20pm Sep 8, 2009 8:20pm
Quoting One14
Alexandra...did you take the long position in USD/CHF?

Looks like your original thoughts played out (down).

Just curious if you got out.
She's probably been long from 1.05 (like I wish I had been - isn't 20/20 hindsight great?)
15 YEARS OF PASR ON FOREX FACTORY!
  • #5,155
  • Edited 8:33pm Sep 8, 2009 8:26pm | Edited 8:33pm
Quoting strat
Anyone know why the EURUSD rallied today?

Hint: its nothing to do with Gold
If you mean funny mentally, the anal-ysts were giving credit to economic reports in Europe indicating the recovery is on. The United Nations also said that U.S. currencies role in international trade should be reduced.

Technically...on my chart it broke out of a triangle yesterday at static SR (1.4350 ish). Today confirmed the breakout.

It couldn't be that simple though. Your posts like this usually have a nice twist that will make me think.
  • #5,156
  • Sep 8, 2009 9:26pm Sep 8, 2009 9:26pm
Quoting One14
Alexandra...did you take the long position in USD/CHF?

Looks like your original thoughts played out (down).

Just curious if you got out.

LOL - I had a bit of luck there. There was no movement at all out of the long USDCHF side, so I dumped them on last night's open. Just held my EURUSD longs. That proved to be correct, but - honestly, I would have been happy with a protitable but hedged position also.

The question now becomes, however, is there a role to reset them at 1.04?
  • #5,157
  • Sep 8, 2009 9:27pm Sep 8, 2009 9:27pm
Quoting One14
If you mean funny mentally, the anal-ysts were giving credit to economic reports in Europe indicating the recovery is on. The United Nations also said that U.S. currencies role in international trade should be reduced.

Technically...on my chart it broke out of a triangle yesterday at static SR (1.4350 ish). Today confirmed the breakout.

It couldn't be that simple though. Your posts like this usually have a nice twist that will make me think.
The resurgent AUDJPY showed that the recovery was on long before anyone's report. http://www.forexfactory.com/showpost...postcount=5093

Interestingly, that market is currently in an intraday reversal - as Strat says, we will wait to see who wins that war on the close -- and then the pundents can explain it by pulling a report from their assortment next week.
  • #5,158
  • Sep 8, 2009 10:15pm Sep 8, 2009 10:15pm
Quoting strat
For those that participated in the TEST, here is what happened.

Remember what I told you and NEVER, EVER forget it or IGNORE it. If you do forget or ignore it, then you will be back with the 98% LOSERS.

When I get chance, I will do a PM with the summary and send to all those who participated.

Those of you that didn't participate, you missed an EXCELLENT opportunity to notch up your trading skills but never mind, we need somebody to feed off!
I had a feeling that hammer wouldn't have enough strength to reverse that strong downtrend. That second hammer would have been a great trade
  • #5,159
  • Sep 9, 2009 2:11am Sep 9, 2009 2:11am
Quoting strat
Not in terms of percentages BUT psyche - wise, LOSING 500 pips is a bitter pill to swallow!

If you don't believe me, try it and see what "the little man" says!

Me and my wife have been following the thread for over 2 months time and we have finally decided to make ourselves known to the followers of Path of Learning.

Thanks Strat for your encouragement to post our story on this thread. I think if it weren't for your personality we would have been on the sidelines forever, just looking and hoping that we will get the most by learning from the examples you show and by applying your principles to trading.

Our is but a short story, I was introduced to forex by a chance 15 months ago and learned a simple 1H strategy, found this quite frustrating as the setups did not happen too often. My wife also liked the potential the forex promised and we got seriously into the stuff and deeper we got into trading more frustrating we became with the indicators and timeframes, we landed on the 1M and 5M timeframes and the results were the opposite of our expectations. We noticed that we wanted to "TRADE", as per FOREX TRADING, so we reasond that more we trade more money we make. HOLY GRAIL of ignorant "basterds".
As it transpired we have come to a conclusion that there is more to Forex than trading indicators and staring onto the screens all day long, and we landed on Strat's thread and the rest is history.
I have to admit that having a partner who also wants to be involved in the forex is great, however it does not mean that there will be no arguments, we do have disagreements on how things work or who does understands something better. Nevertheless, forex is a very lonely business and we need to communicate, share our frustrations and learn together. Its not easy but we are going for it.

We have to admit that the amout of information within this thread is staggering, and as Strat and others say this is a MUST for anyone who wants to learn to participate in forex. We believe that educating yourself in PASR shall be the primary object of anyone who wishes to become successful trader. the impulse to "TRADE" need to take second place, as without basics "TRADING" forex is surely destined for failure. We consider this a new profession and therefore hours of studying and learning. We hope to become proficient at this in the future, no deadline set. There are new concepts to us and learning what Strat, Baba G know of by heart is not easy but we have nothing to lose, maybe time that we would have spent in front of the TV, but we are growing and thinking about future. Year or two pass quickly so the process of accumulationg the knowledge and practicing will take time.

We hope that we can participate in the thread and learn from the masters.

Thank you for the opportunity to learn forex PASR.

Regard
Jideck and Wife
  • #5,160
  • Edited 8:26am Sep 9, 2009 7:49am | Edited 8:26am
Quoting strat
Anyone know why the EURUSD rallied today?

Hint: its nothing to do with Gold
Post #5154

No takers on this? Very disappointing.

OK, same question again today

Anyone know why the EURUSD rallied today?

Pity no-one responded yesterday as my answer would have given you 100 pips today - oh well - you can lead a horse to water but you can't make him drink!
15 YEARS OF PASR ON FOREX FACTORY!
5 traders viewing now