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  • #5,821
  • Sep 28, 2009 9:50am Sep 28, 2009 9:50am
Quoting strat
Please, NO COUNTER TREND TRADES and NO TRADES until the volatility eases and we see definite direction from all the pairs.
Right, Strat.

I'll be waiting on the sidelines. No countertrend trading here.

I agree with your replies to my other posts. I do need to work on patience and discipline. Especially patience.
  • #5,822
  • Sep 28, 2009 10:09am Sep 28, 2009 10:09am
Quoting PistolDave
Right, Strat.

I'll be waiting on the sidelines. No countertrend trading here.

I agree with your replies to my other posts. I do need to work on patience and discipline. Especially patience.
It's not just you, Dave, it's most of the people on here. They are too eager to trade every little hiccup of the market instead of standing back, looking at the big picture and then waiting. Waiting for the market to align itself into a LOW RISK opportunity with all the odds, sods and variables ON OUR SIDE.

If they did this, they would eliminate the majority of bad trades from their account and the resultant headaches that go with them.
15 YEARS OF PASR ON FOREX FACTORY!
  • #5,823
  • Sep 28, 2009 11:17am Sep 28, 2009 11:17am
Quoting CrudeCraig
I have been trying to think of ways to show people how trading very little can make us loads of pips in each pair over the course of a year.

Now this goes back to what I was saying in one of my last posts but I want to say it again in case some missed it.

I am watching 20 or so pairs right now ( all fairly majors) we want to stay away from the exotics IE: less liquid pairs.

With this many charts to trade I only have to make one or two good trend trades a year on each pair and I can make 10,000+ pips a year!! If this is not enough to compound...
Hi CrudeCraig,

From your post;

I only have to make one or two good trend trades a year on each pair and I can make 10,000+ pips a year!! If this is not enough to compound your trading account to the MOON! I don’t know what is. Now I think I am being a little conservative here too on the possibilities of what Strat is showing us here on the dailies. I can see more than one or two STRESS FREE trades a year on each pair!

That makes a lot of sense. I'm starting to understand from what you and Strat are saying, that some of the good trades may only happen once every few months but once you catch one you can ride the "wave" or trend for a long time. That makes up for all the time waiting for a good entry point.

I'm sure anybody that reads this will probably be thinking "damn man, thats what they have been saying all along." And you have. And it seems simple when you really get it. I don't know if I'm bone headed, or if it's just hard for me to switch gears from the daytrading mentality to the long-term mentality. But I am starting to know what to expect now.

I think a good exercise for everyone on the path would be to pick a pair, zoom out so that you can clearly see the last full year of daily data on that pair and just pick out two or three clear as day PASR Stress Free trades.

I'm going to do that. Thanks for suggesting it.

Thanks,
Dave
  • #5,824
  • Sep 28, 2009 11:29am Sep 28, 2009 11:29am
Quoting PistolDave
Hi CrudeCraig,

From your post;

I only have to make one or two good trend trades a year on each pair and I can make 10,000+ pips a year!! If this is not enough to compound your trading account to the MOON! I don’t know what is. Now I think I am being a little conservative here too on the possibilities of what Strat is showing us here on the dailies. I can see more than one or two STRESS FREE trades a year on each pair!

That makes a lot of sense. I'm starting to understand from what you and Strat are saying, that some of...
Finally, Dave, you found the light switch! Now, don't just do it on one pair, do it on all the pairs you can find, study the set ups and TRAIN your mind to recognise them.
15 YEARS OF PASR ON FOREX FACTORY!
  • #5,825
  • Sep 28, 2009 11:57am Sep 28, 2009 11:57am
I get lots of junk mail and emails (and now PMs) sent to me on trading – how they find my details I just don’t know.

Before trashing them, I always have a look through them to make sure there isn’t something in there I don’t know about.

This latest BS (read SCAM) designed to get you to part with your hard earned money had in it:

“”Pressure Cooker Indicator””

“Wow, that’s a fancy name, never heard of that before, read on Gungadin”, I told myself

“”The Pressure Cooker Indicator enables you to quickly and accurately determine the buying and selling pressure on a stock.””

“Now you’re talking, you’ve definitely got my interest here, tell me more” the little man between my ears said.

“At the end of the day, if there are more shares being bought than sold, then the price of the stock will go up. If there are more shares being sold than bought, then the price of the stock will go down.

It really is that simple. Everything else – disappointing earnings reports, interest rates, inflation, rising oil prices, mergers and acquisitions, Fed policies, money, supply, analyst reports, insider buying – is just noise.

To make real money in the market, you don’t need to know why a stock price rises or falls, you just need to know which way it’s most likely to go.

The best way to measure buying and selling pressure is to track the price trend of the daily closing price of a stock.

If the daily closing price of a stock is increasing, then the buying pressure is exceeding selling pressure and the stock should be bought.

If the daily closing price of a stock is decreasing, then the selling pressure is exceeding the buying pressure and the stock should be sold”

Then after lots of blurb, BS and padding:

“As explained in his ******manual, you buy the stock at the exact point when the buying pressure exceeds the selling pressure. And you sell an investment when the selling pressure is greater than the buying pressure.

Both of these “pressure points” can be found for any individual stock, IN SECONDS, by following the simple instructions in the ***** manual”

OK, ENOUGH!

The point I want to make, AGAIN, with this is:

IT REALLY IS THIS SIMPLE

And, no matter how they package their scams, there is nothing new in trading – it is only, and always will be, only about buyers and sellers. End of story.
15 YEARS OF PASR ON FOREX FACTORY!
  • #5,826
  • Sep 28, 2009 12:03pm Sep 28, 2009 12:03pm
If there is sufficient interest in an MT4 code for this, I will be happy, very happy, to write code for the Pressure Cooker Indicator.
15 YEARS OF PASR ON FOREX FACTORY!
  • #5,827
  • Sep 28, 2009 1:08pm Sep 28, 2009 1:08pm
i have been watching this thread for quite some time, but only posted once. and i think this is the first time when i see you... hm... endorsing (?) an indicator (other than simple MAs, which i don't consider indicators).

so just for this reason, it would be interesting to see it . but what's more important, i think it might be a great help for new learners to understand where they are, what they should do and where is the money flow going.
Nihil Sine Deo.
  • #5,828
  • Sep 28, 2009 1:25pm Sep 28, 2009 1:25pm
Quoting Scrat
i have been watching this thread for quite some time, but only posted once. and i think this is the first time when i see you... hm... endorsing (?) an indicator (other than simple MAs, which i don't consider indicators).

so just for this reason, it would be interesting to see it . but what's more important, i think it might be a great help for new learners to understand where they are, what they should do and where is the money flow going.
Read Post #5825 for details
15 YEARS OF PASR ON FOREX FACTORY!
  • #5,829
  • Sep 28, 2009 1:49pm Sep 28, 2009 1:49pm
Hi All,

This is my analysis on EURCAD to see if I get the trend within trend correctly.

Boss is currently making HL and LL.

Worker is currently making HH and HL. Today price action looks like will put an unconformed swing high with bearish out bar. If the price of this pair closes below 09-17 candle low 1.5620, we will have Boss trend and Worker trend in same direction. Please see charts.
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  • #5,830
  • Sep 28, 2009 4:31pm Sep 28, 2009 4:31pm
For those still struggling, make sure you always zoom out to see the big picture before trading.

Also, for those not seeing the trades or those who can’t see the forest for the trees, maybe just put one MA on your chart.

See if this helps
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15 YEARS OF PASR ON FOREX FACTORY!
  • #5,831
  • Sep 28, 2009 4:39pm Sep 28, 2009 4:39pm
Eurgbp at 2230 UK time....
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Trade less and become more profitable!
  • #5,832
  • Edited 5:02pm Sep 28, 2009 4:47pm | Edited 5:02pm
Hi all,

Looking across my charts if I ignore all the counter trend plays then EURUSD looks like the strongest opportunity.

1. We have found support at the 61.8 Fib from the 2008 major high and major low.
2. We found support at the WORKER 20.
3. BIG BOSS, BOSS and WORKER all in agreement on trend
4. Hammer on daily (not perfect).

Plan

1. As we are not bouncing off the DRSI I would not be taking too much risk here so allocating a quarter of my usual trade size.

2. Pending buy order 1.47250 - ideally this does not get triggered and we pull back to support at the DRSI and WORKER 50 where price action will give us another buy signal and I can get a safer entry where I can take more risk.

3. Target would be a full retracement back to the 1.60 level as I do not see too much resistance once we get past the 1.49 level.

4. Will use low of Hammer as a guide to my stop so 1.45620. Would look to move stop to zero risk when BOSS 20 catches up.
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Hope is not a trading strategy
  • #5,833
  • Sep 28, 2009 4:51pm Sep 28, 2009 4:51pm
Still not sure about last night's Asian moves and the subsequent moves after that. The banks being global may have took advantage of the Asian session to move markets over night (as they pass the 'book' from time zone to time zone) and trap people today? There are Hammers this evening on usdyen, gbpchf and gbpyen, audyen but I don't have them on key Boss Line chart levels on my feed?

So, when in doubt - stay out. I'm short most of them on demo from last Mon and I'm seeing this as a chance to move the stops to the highs of the hammers. If they get taken out, I lock in profits and if they don't I continue with the trend. (That is until / if a HL gets put in).

Usdyen is interesting as it could be a large double bottom (See Boss chart) and we are on the slightly sloping up- support from the low on the Big Boss to the HL and then todays hammer.

What's you take Strat??
Trade less and become more profitable!
  • #5,834
  • Sep 28, 2009 4:56pm Sep 28, 2009 4:56pm
Quoting Sinan
Hi all,

Looking across my charts if I ignore all the counter trend plays then EURUSD looks like the strongest opportunity.

1. We have found support at the 61.8 Fib from the 2008 major high and major low.
2. We found support at the WORKER 20.
3. BIG BOSS, BOSS and WORKER all in agreement on trend
4. Hammer on daily (not perfect).

Plan

1. As we are not bouncing off the DRSI I would not be taking too much risk here so allocating a quarter of my usual trade size.

2. Pending buy order 1.47250 - ideally this does not get triggered...
Sian,

I have a BEEB on my feed - there is no action to get me long or short tonight. PA is trapped between two SR levels and neither offer ME a great trade. We are also at the 61% retrace from the high to low on the boss. I would look for a better opportunity and wait to see what this one does with the 1.4700 level? I would like to see a test of the wedge break out as well to ensure it's not a failed Boss breakout.

Only my read of the chart though.
Trade less and become more profitable!
  • #5,835
  • Sep 28, 2009 4:59pm Sep 28, 2009 4:59pm
Quoting Grimweasel
Still not sure about last night's Asian moves and the subsequent moves after that. The banks being global may have took advantage of the Asian session to move markets over night (as they pass the 'book' from time zone to time zone) and trap people today? There are Hammers this evening on usdyen, gbpchf and gbpyen, audyen but I don't have them on key Boss Line chart levels on my feed?

So, when in doubt - stay out. I'm short most of them on demo from last Mon and I'm seeing this as a chance to move the stops to the highs of the hammers. If they...
Way too much red on my USDJPY to think anything else but red
15 YEARS OF PASR ON FOREX FACTORY!
  • #5,836
  • Edited 5:28pm Sep 28, 2009 5:04pm | Edited 5:28pm
AUD/JPY: Price has rejected the Weekly 20 and 50 fib. It closes as a hammer,above the 38 fib and also 78.00. Showing bears are having trouble to push price lower than 78.00 . Bullish trend still remains in play. I'm placing a stop buy order 10 pips above the hammer with SL at the hammer's low and 1st TP at 80.00 . If price is able to break the triangle and both the daily 20 & 50, then I will be looking for price to test the resistance at 81.00 .

AUD/USD: Price rejected 0.8600 and daily 20, closes as a BUOB. Several dojis with long lower wicks in that area, which in my humble opinion should be indicating weak bearish strength in this very bullish trend. Am placing stop buy order 10 pips above the BUOB's high where it will also be a break of the ascending wedge.

Comments and criticisms are welcomed. Appreciate them.

Thanks alot.
Sean
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Discipline is PRIMARY, Method is Secondary.....
  • #5,837
  • Sep 28, 2009 5:23pm Sep 28, 2009 5:23pm
Quoting Grimweasel
Sian,

I have a BEEB on my feed - there is no action to get me long or short tonight. PA is trapped between two SR levels and neither offer ME a great trade. We are also at the 61% retrace from the high to low on the boss. I would look for a better opportunity and wait to see what this one does with the 1.4700 level? I would like to see a test of the wedge break out as well to ensure it's not a failed Boss breakout.

Only my read of the chart though.
Yep looking at that on the BOSS the 61% retrace is sitting in the middle of todays candle on my chart. Makes me more cautious.

Could you not say we had the wedge breakout test today (looking at BOSS)?

Thanks for the feedback.
Hope is not a trading strategy
  • #5,838
  • Sep 28, 2009 5:31pm Sep 28, 2009 5:31pm
Quoting Dabestone
AUD/JPY: Price has rejected the Weekly 20 and 50 fib. It closes as a hammer,above the 38 fib and also 78.00. Showing bears are having trouble to push price lower than 78.00 . Bullish trend still remains in play. I'm placing a stop buy order 10 pips above the hammer with SL at the hammer's low and 1st TP at 80.00 . If price is able to break the triangle and both the daily 20 & 50, then I will be looking for price to test the resistance at 81.00 .

AUD/USD: Price rejected 0.8600 and daily 20, closes as a BUOB. Several dojis with long lower wicks in...
Agree on AUDJPY but be aware of where your resistance is on AUDUSD
15 YEARS OF PASR ON FOREX FACTORY!
  • #5,839
  • Sep 28, 2009 7:27pm Sep 28, 2009 7:27pm
Quoting PistolDave
Hi CrudeCraig,

From your post;

I only have to make one or two good trend trades a year on each pair and I can make 10,000+ pips a year!! If this is not enough to compound your trading account to the MOON! I don’t know what is. Now I think I am being a little conservative here too on the possibilities of what Strat is showing us here on the dailies. I can see more than one or two STRESS FREE trades a year on each pair!

That makes a lot of sense. I'm starting to understand from what you and Strat are saying, that some of...

Right on Dave!

I am glad this may have helped someone, Ill be looking forward to seeing your charts.
  • #5,840
  • Edited 8:35pm Sep 28, 2009 8:07pm | Edited 8:35pm
Quoting strat
Agree on AUDJPY but be aware of where your resistance is on AUDUSD
Nice intra-market analogy. I cont bullish re: AUDJPY. On our fickle friend the Yen, at this stage it is important fundamentally to look for signs of imminent reversal of the recent capitulation. TL's, static levels and weekly patterns are all in the mix. The monthly chart could become highly relevant, though trading that timeframe itself is impractical, as noted earlier. Importantly, in this thread's style of trading, one can wait for the type of low risk entry that Strat describes. Fading has worked for small movements, but one must remain alert for the "once a year" type trade discussed above. This week's progress or rejection should be revealing, as current levels around 90 are key. In my view, 89.70 may be the critical mass; hence I am posting now while 90 is still in play. The E/J chart is one to watch as well, as long term longs can be reassured if current levels hold above 131. Finding the 1-2 annual trades is easy when the year is over...grasping them relatively early is what separates the wheat from the chaff.
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