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Strat's Long Term Stress Free Trading

  • #5,581
  • Sep 22, 2009 6:17pm Sep 22, 2009 6:17pm
Quoting Barry Cade
8 weekly bars have failed to breach this TL. Only on 2/8 did it breach & then dropped back down next day. I believe Orientals are on hols again tomorrow? Maybe an intraday trade for me at pp, but reward to risk not enough for a daily trade at this stage.

However, I am maybe overly-cautious in my early understandings of trading within this thread.
Dead One, several pages ago we were talking about AUDJPY and AUDUSD - I believe Alexandra said AUDJPY was on its way to the North Pole after one of my posts.

""I am maybe overly-cautious"" - Excellent! Stay like that no matter how you trade - much better than being Gun Ho!
15 YEARS OF PASR ON FOREX FACTORY!
  • #5,582
  • Sep 22, 2009 6:24pm Sep 22, 2009 6:24pm
Yes, many consider this an indicator of the ecomonic state of affairs, and we've been riding it a while now, as the thread attests. I still see the weekly pattern as positive, but that is an excellent point looking at the road so far traveled and the obvious major hurdle at 80.

The main point of this is, as referenced a couple of days ago, that one can spin a daily short on this pair, and the divergence players have probably taken it...but the weekly should keep us in the proper perspective.

Either way, that market is moving quite a bit as we speak, as is USDJPY.....the battle is on.
  • #5,583
  • Sep 22, 2009 6:26pm Sep 22, 2009 6:26pm
Quoting strat
“”Les Paul””. – Just a minute, don’t you know you’re dead! You went to rock n roll heaven earlier this year!...
Very witty too. Think Akkerman still uses an LP Custom, amongst others. Simply trying to say that Im not a Strat! I suspect that the Zombie monicker would apply more appropriately to SG. Anyway, thx for the new name.

Apologies for the reference to 50 psych. Forgot Im not on intraday. However its still been effective in this case.

You must be older than me. Mo is standard txt spk for moment. You probably know this anyway & feel like a wind-up.

Well I need a final drink & read a few pages of Brufords autobio, then off to bed. UK resident. ttfn.
  • #5,584
  • Sep 22, 2009 6:34pm Sep 22, 2009 6:34pm
Quoting strat

Because it was an ATM trade or a gift horse trade and I take them when I see them no matter what the R:R is.

I don’t use R:R as is my want BUT I recommend you guys use R:R.

Had I used R:R, it would only have been 70 pips anyway
Strat do I understand that you exited the trade? Can I ask why now if you did?

Im still in and it just dropped about 50 pips in 2 mins, time to set to BE
  • #5,585
  • Sep 22, 2009 6:40pm Sep 22, 2009 6:40pm
The Weekly has shown A BUOB. Trend is showing North and price has also closed above the weekly 20.

On the daily, I see that price has been moving sideways(balance between buyers and sellers), which means IF there's a breakout price might move strongly? Price has shown support on the Daily 50 and also 134.40ish daily minor support line that I have. The current daily bar, if maintains the current form should be a IB (35 minutes before current bar close on my broker's platform).

Will set stop buy order at 135.50 and stop loss right below 134.30ish? Or should I use the high and low of the IB for entry and stop loss?

Comments and criticisms are welcome. Appreciate it, thank you
Attached Image(s) (click to enlarge)
Click to Enlarge Name: ej daily.gif Size: 30 KB
Click to Enlarge Name: ej weekly.gif Size: 24 KB
Discipline is PRIMARY, Method is Secondary.....
  • #5,586
  • Sep 22, 2009 6:43pm Sep 22, 2009 6:43pm
Oops, internet stalled and just checked back on my chart. Price has already break yesterday's daily low. Not an IB anymore
Discipline is PRIMARY, Method is Secondary.....
  • #5,587
  • Sep 22, 2009 6:44pm Sep 22, 2009 6:44pm
Quoting Grimweasel
Not one for me - the RR is too poor to cover that S Star's stop distance relative to the support lines below - must only be a 1:1 trade. Plus my feed shows a BEEB right into that combined DSRI line and SR level that I have at 91.01ish. Looks like it could be a HL test off that DSRI (not shown on your chart Strat)
Grimweasel,

I am new to FF and this thread and i am only up to page 40. This style of trading goes great with what i have been doing for years. But can i ask is it possible for you to post a chart and show SR at 91.01ish. I can see 90 and 91.85 but nothing i have looks like 91.01. thks
Coop
  • #5,588
  • Sep 22, 2009 6:45pm Sep 22, 2009 6:45pm
Quoting Dabestone
Oops, internet stalled and just checked back on my chart. Price has already break yesterday's daily low. Not an IB anymore
An IB isnt a particularly bullish bar to trade of like that. Its considered more of a pause bar so I wouldnt use one to enter a trade like that.
  • #5,589
  • Sep 22, 2009 6:53pm Sep 22, 2009 6:53pm
Quoting Dabestone
The Weekly has shown A BUOB. Trend is showing North and price has also closed above the weekly 20.

On the daily, I see that price has been moving sideways(balance between buyers and sellers), which means IF there's a breakout price might move strongly? Price has shown support on the Daily 50 and also 134.40ish daily minor support line that I have. The current daily bar, if maintains the current form should be a IB (35 minutes before current bar close on my broker's platform).

Will set stop buy order at 135.50 and stop loss right below...


You might consider a platform with more standard closing times, but, otherwise........
  • #5,590
  • Sep 22, 2009 7:00pm Sep 22, 2009 7:00pm
Quoting Alexandra


You might consider a platform with more standard closing times, but, otherwise........
Hi Alex, my platform ODL just closed (GMT 00:00). By standard closing times, when would that be? how many hours ago/before? I'm not particularly well in knowing time zones, pst , est, cst ...etc.. know nuts about them

Naws: so from the chart that I posted earlier, a bearish IB like that (if only it closes like that) should not be taken into any indication for bullish setup? Only a bullish IB in this kinda situation can do so?

Thanks guys
Discipline is PRIMARY, Method is Secondary.....
  • #5,591
  • Sep 22, 2009 7:04pm Sep 22, 2009 7:04pm
Quoting Barry Cade
Very witty too. Think Akkerman still uses an LP Custom, amongst others. Simply trying to say that Im not a Strat! I suspect that the Zombie monicker would apply more appropriately to SG. Anyway, thx for the new name.

Apologies for the reference to 50 psych. Forgot Im not on intraday. However its still been effective in this case.

You must be older than me. Mo is standard txt spk for moment. You probably know this anyway & feel like a wind-up.

Well I need a final drink then off to bed. UK resident. ttfn.
“”Think Akkerman still uses an LP Custom, amongst others. Simply trying to say that Im not a Strat! I suspect that the Zombie monicker would apply more appropriately to SG. Anyway, thx for the new name””.

Bring back the SG and Black Sabbath! – but, please, not those Jonas wimps!
I still love that shape – might have to get one to play some modern music like Black Sabbath.

“You must be older than me”. Got you! This is proof that you haven’t read and understood from the beginning!

“Mo is standard txt spk for moment. You probably know this anyway & feel like a wind-up.”

You Got It! – Roy Orbison 1988
I guessed that but maybe our International readers who don’t have English as a first language didn’t.

Anyway, you can’t beat a wind up before you go to bed!

""Well I need a final drink then off to bed. UK resident. ttfn""

“ttfn” – Bloody hell, Jimmy Young used that in the last century – is this “new” again?
15 YEARS OF PASR ON FOREX FACTORY!
  • #5,592
  • Sep 22, 2009 7:12pm Sep 22, 2009 7:12pm
Quoting Naws
Strat do I understand that you exited the trade? Can I ask why now if you did?

Im still in and it just dropped about 50 pips in 2 mins, time to set to BE
Still in (on another account) like I said in my "gift horse" post.
15 YEARS OF PASR ON FOREX FACTORY!
  • #5,593
  • Sep 22, 2009 7:31pm Sep 22, 2009 7:31pm
Quoting Dabestone
The Weekly has shown A BUOB. Trend is showing North and price has also closed above the weekly 20.

On the daily, I see that price has been moving sideways(balance between buyers and sellers), which means IF there's a breakout price might move strongly? Price has shown support on the Daily 50 and also 134.40ish daily minor support line that I have. The current daily bar, if maintains the current form should be a IB (35 minutes before current bar close on my broker's platform).

Will set stop buy order at 135.50 and stop loss right below...
You've got the sentiment right but not the timing. You should wait for a pullback or retrace or a loss of interest before entering on solid PA. Do not guess on IBs as they can be followed by wicked OBs/large range bars which will suck you in if you have the direction wrong.
15 YEARS OF PASR ON FOREX FACTORY!
  • #5,594
  • Edited 8:12pm Sep 22, 2009 7:44pm | Edited 8:12pm
Quoting Dabestone
Hi Alex, my platform ODL just closed (GMT 00:00). By standard closing times, when would that be? how many hours ago/before? I'm not particularly well in knowing time zones, pst , est, cst ...etc.. know nuts about them

Naws: so from the chart that I posted earlier, a bearish IB like that (if only it closes like that) should not be taken into any indication for bullish setup? Only a bullish IB in this kinda situation can do so?

Thanks guys
http://forex.timezoneconverter.com/

The timing is aggressive from the standpoint of the stress free thread and the need to await appropriate PA, although your entry point impies assocoiated positive PA. You would need a realistic stop in the pair though in that setting. If you were to tell me that you are buying a failure to fall below 134.40 with good stops and freedom from angst over it, I would have given you another smile. Overall, that was a solid post.

Actually, you did kinda say that.......
  • #5,595
  • Sep 22, 2009 7:59pm Sep 22, 2009 7:59pm
Quoting Alexandra
http://forex.timezoneconverter.com/

The timing is aggressive from the standpoint of the stress free thread and the need to await appropriate PA. If you were to tell me that you are buying a failure to fall below 134.40 with good stops and freedom from angst over it, I would have given you another smile. Overall, that was a solid post.

Actually, you did kinda say that.......
Hi Alex, thanks for the kind feedback.

So, overall what standard closing time does team strat use here? Or what broker would u recommend me to look into for having that standard closing time?

Am really loving this thread, going through the thread from the beginning and seeing how the team grows and improves in trading makes me really determine to stick with strat's way of trading! FORGET ABOUT 4HR . If switching to the standard closing time is really important, then I will do it.

Thanks again :d
Discipline is PRIMARY, Method is Secondary.....
  • #5,596
  • Sep 22, 2009 8:03pm Sep 22, 2009 8:03pm
Quoting Barry Cade
Very witty too. Think Akkerman still uses an LP Custom, amongst others. Simply trying to say that Im not a Strat! I suspect that the Zombie monicker would apply more appropriately to SG. Anyway, thx for the new name.

Apologies for the reference to 50 psych. Forgot Im not on intraday. However its still been effective in this case.

You must be older than me. Mo is standard txt spk for moment. You probably know this anyway & feel like a wind-up.

Well I need a final drink & read a few pages of Brufords autobio, then off to bed. UK resident....
Hi Barry,
nice to see you posting again here(did not read yesterday s posts)
forget about that ridiculous post.
lets move on.
I see you get familiar with the thread although new, I think crude caige will do,as he said, the acronyms.thx to him
talking about uj, and following price action ( and the posts)in the last few days is showing big struggle bet. bulls and beers. only time will show who will win, and if it is test of suply or retest of the L or it will boil again.
  • #5,597
  • Sep 22, 2009 8:07pm Sep 22, 2009 8:07pm
Quoting strat
You've got the sentiment right but not the timing. You should wait for a pullback or retrace or a loss of interest before entering on solid PA. Do not guess on IBs as they can be followed by wicked OBs/large range bars which will suck you in if you have the direction wrong.
Thanks for the reply Strat. I love that bold sentence alot, makes sense to me :d It sounds like something that comes out only from a pro or season trader's mouth. Cool (at least from me).

Regarding your sense of humour, it's kinda tough for me to get it most of the time. Ahaha, maybe I'm an asian (can't catch the lingo, especially Baba G's). Or maybe it's my age, 23 this year. Know nothing about john lennon or all those rock n roll stuff, wasn't even born then ...ahaha :d

Anyway, love this thread and sincerely thanks for all the teaching

-sean
Discipline is PRIMARY, Method is Secondary.....
  • #5,598
  • Sep 22, 2009 8:08pm Sep 22, 2009 8:08pm
Quoting Dabestone
Will set stop buy order at 135.50 and stop loss right below 134.30ish? Or should I use the high and low of the IB for entry and stop loss?

Comments and criticisms are welcome. Appreciate it, thank you
Maybe you should watch long term DSRI on Daily, it shows 135.70 for today.
Attached Image (click to enlarge)
Click to Enlarge Name: EURJPY-Daily.jpg Size: 151 KB
  • #5,599
  • Sep 22, 2009 8:14pm Sep 22, 2009 8:14pm
Quoting Blackeagle
Maybe you should watch long tern DSRI on Daily, it shows 135.70 for today.
Note that Blackeagle, thanks. Am still figuring out what does DSRI mean though. Strat said that I will understand it once I finished reading the thread from the beginning. Am working on it

From what I see on the chart that you posted, price is currently approaching back to a broken ascending trendline on the daily. And that might be a support turn resistance trendline. Maybe that's what you mean by DSRI adnd we should pay attention to PA in this area?Hehe.. not sure but guess I will figure this out sooner or later.

Cheers.

Sean
Discipline is PRIMARY, Method is Secondary.....
  • #5,600
  • Edited 8:45pm Sep 22, 2009 8:15pm | Edited 8:45pm
I believe FXDD, FxPro, and the new FXCM programs use the standard NY close. It's a reasonable idea given the importance of the closing price on this thead, though if your weekly analysis is solid, one can put up with some variance on the smaller time frames. You'd be suprised how simple the charting patforms are for many large lot, professional traders.
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