Strat's Long Term Stress Free Trading | Page 259 | 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

  • #5,161
  • Sep 9, 2009 7:58am Sep 9, 2009 7:58am
Quoting strat
Post #5154

No takers on this? Very disappointing.

OK, same question again today

Anyone know why the EURUSD rallied today?
Members of the US Congress came back from recess and went back to work. Just scared the crap out of the dollar.

I don't know if that's what caused it but as an American citizen I personally felt a LOT better about the country when Congress was out by the lake drinking beer instead of in Washington "fixing" things.....

TTMarto
  • #5,162
  • Sep 9, 2009 8:03am Sep 9, 2009 8:03am
I had a good laugh yesterday evening.

During the day, I read the analysts saying that people were buying tangible assets (metals - gold) in favour of paper assets (Currency). In other words, buying gold and selling $US.

Then good old Charlie Gibson on ABC News told us that people were selling their $US which caused the price of gold to rip through the $1000 per ounce barrier!

It was almost as funny as my DSRI indicator!
15 YEARS OF PASR ON FOREX FACTORY!
  • #5,163
  • Sep 9, 2009 8:05am Sep 9, 2009 8:05am
Quoting TTMarto
Members of the US Congress came back from recess and went back to work. Just scared the crap out of the dollar.

I don't know if that's what caused it but as an American citizen I personally felt a LOT better about the country when Congress was out by the lake drinking beer instead of in Washington "fixing" things.....

TTMarto
Interesting.

Any more takers?
15 YEARS OF PASR ON FOREX FACTORY!
  • #5,164
  • Sep 9, 2009 8:07am Sep 9, 2009 8:07am
Quoting Jideck
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...
Thanks Jideck and Wife.
You are indeed very lucky and fortunate to share your forex journey with a loved one.
15 YEARS OF PASR ON FOREX FACTORY!
  • #5,165
  • Sep 9, 2009 8:09am Sep 9, 2009 8:09am
Quoting strat
Post #5154

No takers on this? Very disappointing.

OK, same question again today

Anyone know why the EURUSD rallied today?

Could it be the trendline break?
Attached Image
  • #5,166
  • Sep 9, 2009 8:12am Sep 9, 2009 8:12am
Quoting strat
Post #5154

No takers on this? Very disappointing.

OK, same question again today

Anyone know why the EURUSD rallied today?
Wise 8ss Student Alert...


Did you flash read the posts?

One of us reponded.

I remember a wise man diligently guiding people to read & understand every post.
  • #5,167
  • Sep 9, 2009 8:23am Sep 9, 2009 8:23am
Quoting andy4444
Could it be the trendline break?
Well, you're getting warmer!
15 YEARS OF PASR ON FOREX FACTORY!
  • #5,168
  • Sep 9, 2009 8:24am Sep 9, 2009 8:24am
Quoting One14
Wise 8ss Student Alert...


Did you flash read the posts?

One of us reponded.

I remember a wise man diligently guiding people to read & understand every post.
Yes, Corbett, but that was last night when I read it - today is a new day.
15 YEARS OF PASR ON FOREX FACTORY!
  • #5,169
  • Sep 9, 2009 8:45am Sep 9, 2009 8:45am
[quote]Originally Posted by strat
Anyone know why the EURUSD rallied today?

Hint: its nothing to do with Gold/QUOTE]

Global economy stabilizing, investors looking for better returns, willing to take a little more risk to get those returns thus leaving the harbour that is the greenback.

I've been wrong before....

Lloyd

BTW real nice thread you have here Strat
  • #5,170
  • Sep 9, 2009 8:47am Sep 9, 2009 8:47am
Quoting strat
Yes, Corbett, but that was last night when I read it - today is a new day.
On 9/1 Sellers pushed prices down close to the magic 1.4160 mark. This is a significant static support level. It also touched the DSRI line.
Over the next couple of days there was some tug of war between buyers and sellers at that static level and on the DSRI line. The line held and then the buyers attacked pushing prices up to where we are now.

We broke above 1.4450-1.45 yesterday and held (another significant static level). So far today we have tested that level and have been holding above it.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD-DSRI.JPG Size: 221 KB
  • #5,171
  • Sep 9, 2009 9:08am Sep 9, 2009 9:08am
Quoting strat
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!
I thought it was the german trade balance numbers that came in better than anyone expected....
  • #5,172
  • Sep 9, 2009 9:13am Sep 9, 2009 9:13am
[QUOTEI thought it was the german trade balance numbers that came in better than anyone expected....[/quote]

And France apparently
  • #5,173
  • Sep 9, 2009 11:19am Sep 9, 2009 11:19am
The conventional wisdom says that investors are feeling better about the global economy so they are less risk averse and the UN now wants a reserve currency other than the dollar. Plus everybody is back off holiday.

On the other hand, my kindergarten view of the world says the Euro will keep going up until it starts going down. It has had higher lows for ~11 months now.
After repeatedly knocking at the 1.44 door, it has finally slipped through and until something gets in its way its gonna keep going.

my $.02 worth
  • #5,174
  • Sep 9, 2009 11:21am Sep 9, 2009 11:21am
Quoting strat
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!
I only have the chart to look at. I don't watch the news of any kind so if it is an outside force that made it rally then I wouldn't know. From the chart it looks like a continuation of the Big Trend from the weekly, breaking and closing above a major resistance level. Everyone was waiting for it break and hold and they jumped in and bought EURs.

That's my shot at it. Still learning ......

-HJJ
  • #5,175
  • Sep 9, 2009 11:24am Sep 9, 2009 11:24am
Hey strangers, how is everyone keeping? Did everyone have a nice summer?

Seeing some of Strat's trendlines recently i wondered if EURO YEN was of any interest. We had a low testing the long term trendline followed by a lower high and then a break of the trendline with a lower low.

Price has returned to the trendline and kissed it today with buyers showing less and less appetite over the last two days (big sell off on Monday and yesterday).

There's potential support all the way down but if it can break and close below 133, i don't think 128 is too much of a run.

My entries are based off lower TF's so ignore those and today's candle has some work to do if it's going to close a perfect shooting star, but it may be one to keep an eye on.

Attached Image (click to enlarge)
Click to Enlarge Name: euryen.gif Size: 23 KB
  • #5,176
  • Sep 9, 2009 12:04pm Sep 9, 2009 12:04pm
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!""

OK. Enough is enough!

It proves my point that you are not thinking like REAL traders - you are still in amateur rookie/newbie trader land.

We are trading PASR - we are learning PASR - we are chartists and technical traders.

THE MARKET SPEAKS - AND WE LISTEN.

Why should you care what caused the market to move? From your answers, would you have been able to trade today with reasonable confidence and low risk that today was going to be another up day? I doubt it. I traded on my answer and made good money, some very good money!

You are wasting valuable trading psychological energy thinking about outside external forces over which you have NO CONTROL.

Putting it BLUNTLY, as is my style:

As chartists and technical traders, WE DO NOT CARE what caused the market to move - we do NOT give the proverbial rat's ass!

I can tell you that the Professional traders I know and have known, (with the exception of Jacko who does trade funny mentals), do not think about or worry about, what caused the move. If you think they are basing their trades off correlation and other instruments, you will be forever confused.

""OK, smart ass"", you are thinking, ""what do they trade off?""

Remember, the most profitable and successful Professional Traders have SIMPLE systems/methods - Buy when it goes up and Sell when it goes down. They only care about WHO IS IN CONTROL.

So, fast reverse back to yesterday. If sufficient responses had been received, I would have corrected them all with MY ANSWER:

""Anyone know why the EURUSD rallied today?""

Because there were MORE BUYERS than sellers.

That is ALL we need to know - no funny mentals, no correlations, no squiggly, useless indicator crap, no Gann, no Elliott, no Dow, no FTSE, no cycles, no Moon, no Planets, - just basic PRICE ACTION.

So today, knowing there were more buyers yesterday than sellers, I buy at yesterday's close and get out at the next resistance - double pips for a couple of seconds effort!

So, the moral of this post is:

Stop trying to outsmart your self and the market and just do what the Professionals do:

LISTEN TO THE MARKET WHEN IT SPEAKS
15 YEARS OF PASR ON FOREX FACTORY!
  • #5,177
  • Sep 9, 2009 12:44pm Sep 9, 2009 12:44pm
Right, Dr Joe's lesson.
  • #5,178
  • Sep 9, 2009 2:51pm Sep 9, 2009 2:51pm
Strat I don't see any PA setup that I would take on EURUSD. I have just bullish bar. I would prefer to wait for pullback to support and go long if we get good PA.
alter
  • #5,179
  • Sep 9, 2009 2:56pm Sep 9, 2009 2:56pm
Quoting alter
Strat I don't see any PA setup that I would take on EURUSD. I have just bullish bar. I would prefer to wait for pullback to support and go long if we get good PA.
alter
Hey Alter,
I would suggest Strat was reading the price action, albeit at an advanced level.

It might not have been a single bar you recognise but Strat explained his reasoning. EURUSD shot through resistance making a new yearly high (very important in my opinion) and closed strongly. Price was telling him there was plenty more appetite for the buyers.

I'm sure Strat will correct me if i'm wrong though.
  • #5,180
  • Sep 9, 2009 3:15pm Sep 9, 2009 3:15pm
Quoting AstonDan
Hey Alter,
I would suggest Strat was reading the price action, albeit at an advanced level.

It might not have been a single bar you recognise but Strat explained his reasoning. EURUSD shot through resistance making a new yearly high (very important in my opinion) and closed strongly. Price was telling him there was plenty more appetite for the buyers.

I'm sure Strat will correct me if i'm wrong though.
Although it is advanced trading well beyond what is being taught on here, the point I wanted to make is that if we are to be successful, we need to forget why the market does what it does and concentrate on WHAT the market does.

We are teaching PASR on here but that is only a part of PA. We need to open our minds to all aspects of PA. Knowing who is IN CONTROL is another aspect of PA.

Knowing that gold went up, USD went down and EUR went up has NOTHING to do with PA. Knowing that BUYERS were IN CONTROL of EURUSD is PA.

PASR is not the be all and end all of trading - it is only THE BEGINNING.
15 YEARS OF PASR ON FOREX FACTORY!
5 traders viewing now