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Strat's Long Term Stress Free Trading

  • #5,681
  • Sep 24, 2009 10:42am Sep 24, 2009 10:42am
Quoting strat
Sean,
Don't be in such a hurry to get into a trade – take another read of Lotuselanman’s post # 5669 (Thanks Christopher).

[font=Arial]You are firmly trapped in the vices of an amateur whose only thoughts are profit. When we see prices move (big red and green bars), our psyche (greed) takes over and the little man rushes you to get a piece of the action. This is the absolute worst time to enter a trade and is where 98% of traders lose. The big boys (MMs) are behind these big moves and wait for the suckers...
Hi Strat...and thanks for your yesterday's "benvenuto"

I'm trying to read and understand the thread as better as I can....it will take me another couple of days to do it....
I also was watching GBPUSD... let me try to let you know what I see...

A broken trendline...(H&S??) but at the same time a support at 1.60500 not broken at the moment...
If it will be broken...I will have to wait for the price to confirm it as a resistence, in that case...I will watch for PASR to show me that it wants to go down....

Can it be?
Market is like a puzzle, YOU have to fit the pieces!!
  • #5,682
  • Edited 11:57am Sep 24, 2009 11:46am | Edited 11:57am
Quoting Grimweasel
Great quote Alexandra -

I think the best counter trend shooting star trades are the ones like cable has displayed today - with the new trend. Picking tops and bottoms, I have found to my detriment, is a fools game that only keeps the brokers rich.

Most tops form with some recognisable topping action and rarely shoot up (like nzdusd) and then turn on a dime and come shooting back down - the traces of the bulls and bears battle is usually there for all to see. I think that crude displayed some excellent PASR action from the underside...

Indeed! Chunnel's action today is a great example of what Strat was talking about yesterday.

EURUSD interests me right now at the daily support.....for those aggressively inclined and watching the close. The weekly chart, however, gives pause with it's current stall. USDCHF, however, once again gives some insight.
  • #5,683
  • Sep 24, 2009 1:10pm Sep 24, 2009 1:10pm
Quoting Barry Cade
Thx Craig, good work.
To help me cross ref quicker I converted the doc into a spreadsheet so I could sort alphabeticlally.

It may help/save time for someone else, so Ive attached a copy.

Thank you Barry,

Good idea!
  • #5,684
  • Sep 24, 2009 3:39pm Sep 24, 2009 3:39pm
Hi everyone,
I am still on my mission of finishing this thread and it has not been easy.

I have a quick question, when trading using PASR, do you consider the cost of trading a certain currency such as interest rates?
  • #5,685
  • Sep 24, 2009 3:55pm Sep 24, 2009 3:55pm
Quoting pipfx
Hi everyone,
I am still on my mission of finishing this thread and it has not been easy.

I have a quick question, when trading using PASR, do you consider the cost of trading a certain currency such as interest rates?
No, I never give it a thought. I just trade whichever pair presents the opportunity regardless of the interest rate differential. Any negative interest is wiped out by the profit in the trade.
15 YEARS OF PASR ON FOREX FACTORY!
  • #5,686
  • Sep 24, 2009 4:24pm Sep 24, 2009 4:24pm
Either it holds or it doesn't. Either way it speaks volumes, but a good break and close would give it room to fall into (ignore the red lines which are 4H).

Attached Image (click to enlarge)
Click to Enlarge Name: cadyen.gif Size: 25 KB
  • #5,687
  • Sep 24, 2009 4:37pm Sep 24, 2009 4:37pm
AUDJPY held by 80 R
AUDUSD held by 0.8800 R (what’s with all the 8s – is Oz Chinese now?)
CADJPY broke through demand and found S at junction of previous supply and LT demand.
CHFJPY broke thru demand and being held by LT demand
EURCAD broke through supply and repelled by 1.6000
EURGBP broke through 0.9800 key level
EURJPY sleeping
EURUSD broke through demand but held by 1.4650 minor support
GBPAUD pulled back to support at 1.8550
GBPCHF broke through BOSS demand
GBPJPY broke through BOSS demand
GBPUSD broke through BOSS demand
NZDUSD held by 0.7300 R
USDCHF bouncing off S and BOSS demand but held by Daily supply
USDJPY 4th test of S and BOSS demand.

Anyone see a pattern here?
15 YEARS OF PASR ON FOREX FACTORY!
  • #5,688
  • Sep 24, 2009 4:41pm Sep 24, 2009 4:41pm
Quoting strat
Anyone see a pattern here?
A bit of good old fashioned fear coming back in after a summer of love?
  • #5,689
  • Sep 24, 2009 4:50pm Sep 24, 2009 4:50pm
For the three people who PM’d me asking how I knew EURGBP would reverse as predicted:

Read my post again – I didn’t predict it. I said there was always a possibility of it happening. I have no idea what the market will do next – it has a mind of its own, BUT, it does leave clues.

For those of us who were short, the footprints left behind alerted us to either TP or pull in stops tight.
15 YEARS OF PASR ON FOREX FACTORY!
  • #5,690
  • Sep 24, 2009 5:02pm Sep 24, 2009 5:02pm
Quoting AstonDan
Either it holds or it doesn't. Either way it speaks volumes, but a good break and close would give it room to fall into (ignore the red lines which are 4H).

Attachment
Well its very firmly held by support and by both Worker and BOSS demand.

If she gets through that, listen for a BANG and watch out below!
15 YEARS OF PASR ON FOREX FACTORY!
  • #5,691
  • Sep 24, 2009 5:05pm Sep 24, 2009 5:05pm
Quoting strat
Sean,...
No problem Strat. There's no particular answers that Im looking from you. I just want the honest opinion/answer from you. let it be harsh, offensive or anything, as long as it's constuctive enough to help me grow my account.

Totally appreciate you reply Strat. With this long reply from you. I believe I can learn more from you guys, the thinking process. Why to take a trade or vice versa. Personally, I like to see replies which go like=> I won't take this trade, it's too risky because blah blah blah. Looking reasons to enter a trade is easy! In contrast, looking reasons not to enter a trade, that's what differentiates the pros and amateurs.

Thanks alot for your reply Strat, it further improves my understanding for your method, price action and trend. Appreciate it.
Discipline is PRIMARY, Method is Secondary.....
  • #5,692
  • Sep 24, 2009 10:42pm Sep 24, 2009 10:42pm
Quoting strat
AUDJPY held by 80 R...
This one caught my eye today
Attached Image (click to enlarge)
Click to Enlarge Name: usdcad092409d1.png Size: 58 KB
  • #5,693
  • Sep 24, 2009 10:57pm Sep 24, 2009 10:57pm
See chart
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd092409d1.png Size: 49 KB
  • #5,694
  • Sep 25, 2009 2:20am Sep 25, 2009 2:20am
Quoting CrudeCraig
This one caught my eye today
I will watch this one.

PA may get influenced by G20 meeting today if theres any support from them for sick $.

Also, I will be watching oil price as it has dropped from $71 on 17th to $66 today. If it bottoms out then it should add strength to loonie.
  • #5,695
  • Sep 25, 2009 4:14am Sep 25, 2009 4:14am
Quoting CrudeCraig
This one caught my eye today
Mate; nice chart. Have a look at eurgbp and then compare that with usdcad. See the similarity? A double bottom with a 'breast' in between the bottoms (curve, hill, mound whatever you want to call it) then a BO above the DSRI - Look what happend when eurgbp did the same thing at the DSRI. I'll wait for the retest of that line and then decide on some old fashioned PASR!!
Trade less and become more profitable!
  • #5,696
  • Sep 25, 2009 5:19am Sep 25, 2009 5:19am
Another Nice Chart - No Comment
Attached Image (click to enlarge)
Click to Enlarge Name: AUDCAD-Daily.jpg Size: 132 KB
  • #5,697
  • Sep 25, 2009 7:23am Sep 25, 2009 7:23am
Quoting CrudeCraig
See chart
Good lad, Craig! You are really getting the hang of this. Well done!
15 YEARS OF PASR ON FOREX FACTORY!
  • #5,698
  • Sep 25, 2009 7:28am Sep 25, 2009 7:28am
Quoting Blackeagle
Another Nice Chart - No Comment
That must be the new Chunnel they are building between Australia and Canada

I don't have enough data for that pair

Anyone know how to get more data?
15 YEARS OF PASR ON FOREX FACTORY!
  • #5,699
  • Sep 25, 2009 7:30am Sep 25, 2009 7:30am
Quoting strat
Well its very firmly held by support and by both Worker and BOSS demand.

If she gets through that, listen for a BANG and watch out below!
Well I was awakened by a bang last night!
15 YEARS OF PASR ON FOREX FACTORY!
  • #5,700
  • Sep 25, 2009 8:02am Sep 25, 2009 8:02am
Quoting CrudeCraig
See chart
This is exactly why I don't understand anyone wanting to trade less than the Daily time frame apart from using H4 to fine tune entries. All profit and fun, no stress.

And if you think this is good, you should see what we do on the BOSS time frame. The Worker is nothing, NOTHING compared to that! It's like fly shit in a jar of pepper!
15 YEARS OF PASR ON FOREX FACTORY!
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