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  • #5,721
  • Sep 25, 2009 10:48am Sep 25, 2009 10:48am
Craig, I can't fully express the joy! Thank you so very much - it will be a great help to me. This is just what I need to carry on my learning process - I was getting so confused with all he acronyms!

Regards,

mawbvw

Quoting Naws
Everyone say thaks to Craig for compiling the acronym list for this thread

It is now on the Index, check it out here http://sites.google.com/site/stratst.../accronym-list
  • #5,722
  • Sep 25, 2009 12:01pm Sep 25, 2009 12:01pm
Quoting mawbvw@hotma
Craig, I can't fully express the joy! Thank you so very much - it will be a great help to me. This is just what I need to carry on my learning process - I was getting so confused with all he acronyms!

Regards,

mawbvw

Your welcome,


One14 (corbett) has also helped with this and we will be adding some of his to the list soon.
  • #5,723
  • Sep 25, 2009 12:05pm Sep 25, 2009 12:05pm
Quoting Grimweasel
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!!
Haha that's funny you bring that up, That is exactly what i was looking at last night when i posted that chart, Very similar setups.
  • #5,724
  • Sep 25, 2009 12:26pm Sep 25, 2009 12:26pm
Quoting strat
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
[font=Arial]GBPAUD...
Was this rhetorical?

I see the word BROKE alot. ...and the BOSS is speaking.

Something I also noticed that was weird is that the USD/JPY was going down even though the other USD pairs were going up (or at least holding).

I know. Correlation is a killer.
  • #5,725
  • Sep 25, 2009 12:27pm Sep 25, 2009 12:27pm
Quoting CrudeCraig
Your welcome,


One14 (corbett) has also helped with this and we will be adding some of his to the list soon.
Thanks for the cred.
  • #5,726
  • Sep 25, 2009 12:40pm Sep 25, 2009 12:40pm
Quoting One14
Was this rhetorical?

I see the word BROKE alot. ...and the BOSS is speaking.

Something I also noticed that was weird is that the USD/JPY was going down even though the other USD pairs were going up (or at least holding).

I know. Correlation is a killer.
Corbett - are you really Dan Brown looking for the Lost Code?
15 YEARS OF PASR ON FOREX FACTORY!
  • #5,727
  • Edited 12:45pm Sep 25, 2009 12:41pm | Edited 12:45pm
Quoting strat
I guess you mean "confused"!

You wanted to trade it AFTER the horse had bolted...
Hi Strat, I might have misunderstand something about your reply to me yesterday regarding GBPUSD. And yea, it's GBPUSD, not EURGBP. Below is part of that previous post. Here it goes.

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 to follow in behind them. When they feel they have enough suckers, they will reverse on you and laugh all the way to their bank.

When you see these big moves, just stand aside and watch. The opportunity for a trade has gone. That opportunity was BEFORE the move, not during it and certainly not after it.

Don’t think it’s just you Sean, IT gets all of us one way or another or sometime or other, especially when our greed demon is active. Learn to CONTROL your emotions (greed and fear) and you will be successful.
Reminding me to be patient.

Now on to GBPUSD and your post.

As I am writing, NY is selling GBP like its going out of fashion. Just let it go. Leave it to the short time frame guys if they can catch it. So what to do?

First, wait for the Daily bar to close (5pm NY (EST)). Although the week has not yet finished, observe the levels on the BOSS – these have or are, being broken.
Check the Worker, observe the levels – again these have or are, being broken.

Now, study the trends. Understand where we are in ALL the trends in the BOSS and Worker.

It “appears” the downtrend has resumed but we don’t know for sure. How will we know? When key support levels on both BOSS and Worker are taken out. When those are breached with a strong close, that is a good sign.

See if you can identify those levels.


My interpretion on this part is to stay out of the trade til certain support levels are taken out. But on my previous post I did clearly mention if the daily bar is to close at 5pm NY, below the trendline and boss 20, then I will be looking for sell stop order. So, after getting your reply, advicing me to wait for key support levels to be taken out, I was assuming that maybe yesterday's close was just not a good close (MAYBE I JUST MISUNDERSTAND IT). That's why I just stay out of the trade and keep waiting.

And then come Craig's chart (thanks Craig), stating that price has broken below 1.6000 on gbpusd. Which is exactly like what I've posted. And you echoed by saying it's a good setup.Hence the confusion

Btw, as a reference, my original post about gbpusd is at #5678 and your original reply is at #5679 (with the title NOW..IS TIME TO WAIT), hence the waiting..

P/S: I'm not at all complaining or whinning here. Appreciate all the effort put in by you Strat. Am just trying to understand better, to think like u (I HOPE ), and to get a better grip at your stress free method.

Thanks,
SEAN.
Discipline is PRIMARY, Method is Secondary.....
  • #5,728
  • Sep 25, 2009 12:49pm Sep 25, 2009 12:49pm
Quoting Dabestone
Hi Strat, I might have misunderstand something about your reply to me yesterday regarding GBPUSD. And yea, it's GBPUSD, not EURGBP. Below is part of that previous post. Here it goes.

[color=Blue][size=1]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...
OK 007 (Sean Connery),

I see where the problem is. I didn't read your set up - I just saw an eagerness to trade on GBPUSD which was already well advanced and I wanted to stop you from rushing in (Fools Rush In - Ricky Nelson 1961). Sorry about that.

Bitch and whine as much as you want but please don't try and think like me - you'll get yourself into a whole lot of trouble!!!
15 YEARS OF PASR ON FOREX FACTORY!
  • #5,729
  • Sep 25, 2009 12:53pm Sep 25, 2009 12:53pm
Quoting strat
Corbett - are you really Dan Brown looking for the Lost Code?
Just checking if there was some strange Strat test buried in there. Can't see the forest for the trees.

I'm off to find the lost symbol.
  • #5,730
  • Sep 25, 2009 12:59pm Sep 25, 2009 12:59pm
Quoting strat
OK 007 (Sean Connery),

I see where the problem is. I didn't read your set up - I just saw an eagerness to trade on GBPUSD which was already well advanced and I wanted to stop you from rushing in (Fools Rush In - Ricky Nelson 1961). Sorry about that.

Bitch and whine as much as you want but please don't try and think like me - you'll get yourself into a whole lot of trouble!!!
Aha, you cleared up my mind once again Xie Xie master ( I assume you know chinese language). Well I did miss the trade but I'm darn happy that at least I got it right.

Daily is definitely the way to go with. 4H is my bin now. Thanks to Strat.

Sean.
Discipline is PRIMARY, Method is Secondary.....
  • #5,731
  • Sep 25, 2009 1:01pm Sep 25, 2009 1:01pm
Quoting One14
Just checking if there was some strange Strat test buried in there. Can't see the forest for the trees.

I'm off to find the lost symbol.
If you've read all his other books, it's just the same - same formula, same theme and same characters but with different names.

I was so disgusted with it, the BOSS took it back and got her money back on it!
15 YEARS OF PASR ON FOREX FACTORY!
  • #5,732
  • Edited Sep 26, 2009 10:03am Sep 25, 2009 1:05pm | Edited Sep 26, 2009 10:03am
Quoting Dabestone
Aha, you cleared up my mind once again Xie Xie master ( I assume you know chinese language). Well I did miss the trade but I'm darn happy that at least I got it right.

Daily is definitely the way to go with. 4H is my bin now. Thanks to Strat.

Sean.
Bu ke Qi (not sure of spelling - just the phonetics)
15 YEARS OF PASR ON FOREX FACTORY!
  • #5,733
  • Sep 25, 2009 1:33pm Sep 25, 2009 1:33pm
Quoting strat
With pleasure! If you can read a book, you can read this.

Trading is SIMPLE - it is we traders who COMPLICATE IT!
The problem is that there are periods the market is making LLs and LHs even if we are in the uptrend. If we took long trades during 2005 or 2008 we would probably lost 18% of our account.
On the daily chart we have much more of these vague situations.
Would not be enough just to count LLs and LHs (or HHs and HLs) on boss and worker and act accordingly?
Thank you
alter
  • #5,734
  • Sep 25, 2009 1:39pm Sep 25, 2009 1:39pm
Quoting alter
The problem is that there are periods the market is making LLs and LHs even if we are in the uptrend. If we took long trades during 2005 or 2008 we would probably lost 18% of our account.
On the daily chart we have much more of these vague situations.
Would not be enough just to count LLs and LHs (or HHs and HLs) on boss and worker and act accordingly?
Thank you
alter
There is no problem, alter. The only problem is the one we make for ourselves.

Please go back and read the post I did on trends within trends which should answer your problem.
15 YEARS OF PASR ON FOREX FACTORY!
  • #5,735
  • Sep 25, 2009 1:46pm Sep 25, 2009 1:46pm
MT4 guys -

Another tip I have you all is this:

If you use MT4 (FXPro, Alpari etc) for your charting then always, always enter the trade on your demo MT4 platform as you do with your broker. There are a few reasons for this, namely:

1. You can see the green and red lines where your stops are visually on the charts.

2. You can use the 'detailed' report facility with MT4 to list all your trade variables - this stops you having to run a separate Excel spreadsheet with all your win/loss ratios, equity curve etc on it. MT4 will do this for you. Just save a detailed report at the end of each week to check your progress!!(Open the History tab and right click any of the lines and then select 'save as detailed report')

3. This will give you a great visual representation of your success so far; be positive and ensure that your curve is upward. I think if you use Jing and select a screen grab of your 3M equity curve from MT4 then Team Strat would be able to tell you when you were ready to go live with an account. You'd also have accountability to the thread as your results would be shared with all - this will help you overcome yourself and become a better trader??

Food for thought traders!
Trade less and become more profitable!
  • #5,736
  • Sep 25, 2009 3:53pm Sep 25, 2009 3:53pm
AUDJPY broke through BOSS demand but both BOSS & Worker at Support
AUDUSD taking a rest at BOSS and Worker Support
CADJPY BOSS at demand
CHFJPY BOSS at demand
EURCAD BOSS broke through supply; Worker broke through Resistance
EURGBP Next stop 0.9400?
EURJPY BOSS at demand and both BOSS & Worker at Support
EURUSD BOSS at resistance. Worker at demand and Support
GBPCHF BOSS at “old” supply, next stop 1.5850? Worker at minor Support
GBPJPY Both BOSS and Worker at Support
GBPUSD Both BOSS and Worker at Support
NZDJPY Both BOSS and Worker at demand
NZDUSD BOSS approaching resistance, Worker at demand
USDCAD BOSS trapped between demand, support and supply,
USDCHF BOSS at support
USDJPY Next stop 87.00?
15 YEARS OF PASR ON FOREX FACTORY!
  • #5,737
  • Sep 25, 2009 7:06pm Sep 25, 2009 7:06pm
I'm waiting to see what happens in the next few days. Could be interesting.

If good PASR indicates a low-risk entry to go long at the 141.00 area, would it be worthwhile to try it, or given that the trend appears to have turned bearish now would a wise trader wait for a pullback to the 149.50 area to look to sell short there?

If you short at that level you would still have to deal with the 141.00 support again when (or if) price drops that far again. But with the right entry it could still be profitable.



Thanks,
Dave

Attached Image (click to enlarge)
Click to Enlarge Name: 9-25-2009 6-49-39 PM.png Size: 76 KB

  • #5,738
  • Sep 25, 2009 7:31pm Sep 25, 2009 7:31pm
I had another question about the setup I posted just above.

It seems like this happens often: Price moves through a SR level and I don't know whether to wait for a pullback to enter with the trend, or to wait for a reversal candle and try a countertrend trade.

The countertrend setups I have tried don't seem to work out very often, but when I wait for the pullback it either doesn't show up or when it does there is no setup (that I am familar with) to be able to enter confidently with the trend, so it goes on ahead without me...

... then I find myself looking for ways to enter without seeing a clear setup. For instance, I will say to myself "thats an IB and price is moving down so it's a low-risk short entry" etc. And it ususally wouldn't work - but sometimes it would have.

Typical amateur "buy at the top, sell at the bottom" mistake.

I'm at the point where I know just about enough to blow out an account with some real dumb-ass trading. And it would be my fault. That's why I'm still on demo. And still learning slowly.

Maybe there is something basic that I'm not understanding about the method. Possibly seeing many more charts and setups will make it more clear to me.

Back to the Path of Learning and F12ing?

Standing by,
Dave
  • #5,739
  • Sep 25, 2009 9:11pm Sep 25, 2009 9:11pm
To strat and all those here...have just found this thread and not really looking forward to reading another 3oo something page thread but this one seems it is worth it lol.

I have been following jacko's thread and while I like his style of trading I do like to follow multiple pairs and I am also fond of the D1. I just recently read strat's post about energies etc aligning and I have finally found my comfort zone with D1 confirmed by W1.

I don't use the MA's, just trendlines and a few candle setups when they are clear. For example this weeks EU W1 finished with a nice doji...not enough to me to really say the trend is over but enough to pull out of the longs I did have piled up.

I was trying to follow the H4 in line with jacko but it was just recently I read strat's post on energy and vibrations and I have found the using W1 trendlines as the BOSS and D1 trendlines as the WORKER (is this what this means...I am not even into this thread enough to know) works best for me.

I was a bit like PistolDave hunting for reversals but have realised how dumb that was...even waiting for a pullback sometimes. That's kind of where I'm at with my trading; how long to wait for confirmation? That is the point I step down to the H4...but also I have started placing orders outside the range with 1:1 stops in case it breaks and goes and this has been working well. PistolDave...I think its a balance between being really sure of direction or missing those first entries...and then if its going into a range you might lose on the pullback but there's always another entry.

Its only recently I kind of saw the light here...till then I was like...its moving up, there must be a spot for a reversal/countertrend trade here...but if I had just placed a trade in the main direction all those times I'd be up 100% by now.

Obviously the strength lies in the details but the number of times I've placed a trade to see the stop hunted then go my way has been so frustrating that these days I am a bit more liberal with stops and give more space than I used to and have found it better off.

Obviously with the D1 you need room to move but even with a 1K account you can have a 200 pip stop that's only 2% of account which is my risk comfort.

For some reason neither I can work out nor support can help with I am unable to post from my home pc's so I can't be that active here but will try and fix that and get involved.

The one thing I have learnt is that trading is random and governed by trader's emotions secondly and banks orders firstly, not any laws of science, so trying to be like Dr. Joe is all we can do...getting frustrated because we cannot see the future is unreasonable.

To trading success,

FE
  • #5,740
  • Sep 25, 2009 9:16pm Sep 25, 2009 9:16pm
Just realised I repeated myself and tried to edit post but can't...dunno whats up with this forum but it doesn't like me posting from Japan thats for sure.
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