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Strat's Long Term Stress Free Trading

  • #5,961
  • Edited 10:20pm Oct 1, 2009 10:09pm | Edited 10:20pm
E/J has my eye at the moment...looking a bit weak from the failure at 131.

Am prepared to cash in the longstanding continentals on another bump....not a sure thing, but prepared for it. Divorce papers are drafted but not filed.

Letting USDJPY lie for the moment
  • #5,962
  • Oct 1, 2009 10:34pm Oct 1, 2009 10:34pm
Quoting Alexandra
E/J has my eye at the moment...looking a bit weak from the failure at 131.

Am prepared to cash in the longstanding continentals on another bump....not a sure thing, but prepared for it. Divorce papers are drafted but not filed.

Letting USDJPY lie for the moment
Agreed,


Lots of space too so if it goes it could go hard!
  • #5,963
  • Oct 1, 2009 10:39pm Oct 1, 2009 10:39pm
Quoting Grimweasel
Hello and welcome to the thread!

I use the 'weekly worms' on my daily charts but I do admit it can be destracting at times....
Thanks for the reply! Appreciate you taking the time to help me on the path.
  • #5,964
  • Oct 1, 2009 10:44pm Oct 1, 2009 10:44pm
Quoting strat
“”Only 30 or so pages into the thread as taking it a bit at a time and letting things sink in.””...
Thanks strat...no, this makes sense...and if I allow all the MAs on the chart from the start I will get used to them and not feel cluttered. Will be back next question and look forward to eventually catching up with this thread but will take it slow and also learn from other pearls of wisdom posted along the way.

Thanks again,

FE
  • #5,965
  • Oct 1, 2009 10:56pm Oct 1, 2009 10:56pm
Quoting strat
“”this pair has been down to the point that make you say how low can she positively goes””

The price now is 1.6721. What is to stop price going to 1.2? or 1.0? or 0.75? or 0.5? or 0.2 ? or ?

We don’t know, only the market knows and we just follow the market whichever way she goes – we don’t care.

“”This is a very good case to study. I will watch and study the price action as she turns around and post.””

[font=Arial]This...
Thanks Strat, I will do that
  • #5,966
  • Oct 2, 2009 2:24am Oct 2, 2009 2:24am
Quoting strat
When you say "especially against EUR", I can understand that because of the competition in Europe but what about GBP? I would have thought that would be equally true.
I would have thought so, too, but somehow SNB singled out EUR in their announcement, and considering the appreciation of CHF against GBP and comparing that chart with EURCHF, SNB is keeping its promise.
  • #5,967
  • Oct 2, 2009 3:38am Oct 2, 2009 3:38am
Quoting strat
... EURGBP is a typical example of such. This pair, over the years, has been highly irregular – it exhibits all the aspects of a trade in short spaces of time. It switches back and forth from trend to consolidation/ranging to sleeping and sometimes wild moves. But when she trends, She’s About A Mover! ...
Even in consolidation/ranging to sleeping times, it is the best chart in terms of respecting SR & DSRI lines.
Attached Image (click to enlarge)
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  • #5,968
  • Edited 10:46pm Oct 2, 2009 4:02am | Edited 10:46pm
Quoting PistolDave
... Please feel free to correct me if these are incorrect.
They are correct if you identify swing tops and bottoms in trend direction but as you can see from your candlestick chart, sometimes PA does not present itself at major SRs to allow entry, so you need to have your long term DSRIs on your chart and check PA near them to enter trades in trend direction so that you can have good entry opportunities.
Attached Image (click to enlarge)
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  • #5,969
  • Oct 2, 2009 7:43am Oct 2, 2009 7:43am
Quoting Grimweasel
Jacko loves the 50% Fib on eurusd. Looking at the boss it looks bearish to me; I still 'think' (dangerous, I know) that the wedge BO will be a fakey as it's rejected the old middle of the W pattern. Not sure, so I'll wait for post NFP and have a look next week I think.

My fibs are drawn from the Boss chart swing high to low. How did you get 50% Strat, intrigued?
“”Price is at 50% retrace which EURUSD likes but my DSRI demand line is at 61.8% retrace at 1.4431. Which one will she choose?

How did you get 50% Strat, intrigued?””

See chart below:
Attached Image (click to enlarge)
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15 YEARS OF PASR ON FOREX FACTORY!
  • #5,970
  • Oct 2, 2009 7:53am Oct 2, 2009 7:53am
Quoting mstandifer
First of all, I'll state for the record that I don't know very much and my trading skills are marginal at best.

I traded stocks for about 10 years....
Glad you could join us. Take your time going through the thread, there is no rush, the markets will always be here. The important thing is to understand each post and not just read each post. Anything you don't understand, post your questions on here.

Equally, if there is something in there that turns your light on - let us all know - in case we missed it.
15 YEARS OF PASR ON FOREX FACTORY!
  • #5,971
  • Oct 2, 2009 8:15am Oct 2, 2009 8:15am
Quoting PistolDave
On Sep 27, post 5793 CrudeCraig said:

[font=Calibri][size=3][color=blue]"... 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 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...
Dave,

Just following on from Craig, forget about trying to nail the tops and bottoms – that’s for fools, selling books, methods, systems and scam web sites.

For some reason, those gremlins and demons, little men and the guy in the mirror are not satisfied unless we can start at the bottom and get out at the very top. It seems the first thing we want to, and have to do. I guess the more competitive you are as a person, then the more you want this. This is GREED again, which we have to recognize and control.

Another reason, I think, is that Forex has been blown way out of proportion as a “Home based business” or “Get Rich Overnight” fantasy. I know many on here who started out with that mind set. When you realise this is “just another business” and step back from all the hype, it becomes more acceptable. Accept that there is no short cut to riches. It is a slow laborious process just like any other business. When you can do this and kick those greedy little gremlins, demons, little men and reflections into “touch”, things DO get better.

Again, being successful in trading is 95% psychology and 5% technical skills. Until you have GREED and FEAR under control, it will be a long hard struggle.

Accept this:

1) We are never going to pick tops and bottoms. Any that we do will be more by luck than skill
2) All we want is the “meat” in the middle of those huge moves – the “safe” 75%
3) Let others worry about tops and bottoms


If you see any of my posts where I am trying to get in at the bottom or the top, don’t fret over it, I’m just trying to position myself for a new long term move – sometimes it works, sometimes it doesn’t.

PATIENCE & DISCIPLINE, Dave and CONTROL of your EMOTIONS.
15 YEARS OF PASR ON FOREX FACTORY!
  • #5,972
  • Edited 1:58pm Oct 2, 2009 1:57pm | Edited 1:58pm
A little note about timeframes, sorry if this distracts from your point but thought this might be of interest to a few.

I mainly trade off the 1hr charts (you may not approve but hey...you're not me)

Now i've not taken all these trades but during a choppy week i questioned if i could not make more money trading 15min charts....more opportunities.

So i had a look at cable as this is normally a good pair to trade.

With Ig the 15 min charts went back to 14th September, not a massive study but enough to give a hint.

I trade using price action, and taking all the trades meeting my criteria on 15 min chart there would have been 58 trades (all with 20 pip stop)and 366 profit.

Using the same methods trading off 1hr charts there would have been 17 trades (same 20 pips stop) and 648 pips in profit.

Something to mull over during the weekend.

Strat you can now put the thread back on it's longer TF tracks.
  • #5,973
  • Oct 2, 2009 4:01pm Oct 2, 2009 4:01pm
Quoting foredog
A little note about timeframes, sorry if this distracts from your point but thought this might be of interest to a few.

I mainly trade off the 1hr charts (you may not approve but hey...you're not me)

Now i've not taken all these trades but during a choppy week i questioned if i could not make more money trading 15min charts....more opportunities.

So i had a look at cable as this is normally a good pair to trade.

With Ig the 15 min charts went back to 14th September, not a massive study but enough to give a hint.

I trade using price action,...
So, the point you are making is ?????????????????????????????????

Using your data, the point I make is:

M15 timeframe gets 58 trades for a 366 pip return

H1 timeframe gets 17 trades for a 648 pip return

Now extend these out further using the same ratios:

H4 timeframe gets 12 trades for a 1147 pip return

D1 timeframe gets 8 trades for a 2030 pip return

Now let’s look at the time glued to the one eyed monster to achieve the above:

M15 requires 12 hours

H1 requires 8 hours

H4 requires 6 hours

D1 requires 5 minutes

Now let’s look at the stress involved to achieve the above:

M15 VERY STRESSFUL

H1 Stressful

H4 Stressful

D1 STRESS FREE

So, the point you have made, as I keep saying over and over ad nauseum, is that D1 is the most profitable time frame, with the least amount of screen time with the least amount of stress.

Thank you very much for bringing this to my attention!

“”Strat you can now put the thread back on it's longer TF tracks.””

Thank you so very much for your permission to continue my thread – in future, if you have nothing positive and constructive to post, please refrain from posting and go forth and multiply.
15 YEARS OF PASR ON FOREX FACTORY!
  • #5,974
  • Oct 2, 2009 5:04pm Oct 2, 2009 5:04pm
Quoting strat
So, the point you are making is ?????????????????????????????????...
LOL.
  • #5,975
  • Oct 2, 2009 5:30pm Oct 2, 2009 5:30pm
Quoting AstonDan
Clean up report sent. Dick.
I just did too, looks like its already gone!
  • #5,976
  • Oct 2, 2009 6:55pm Oct 2, 2009 6:55pm
Strat:
I really like your thread more every day I read the old posts. I am convinced that if we search for good profit and stress free trading, you are teaching here the way to do.

I was reading your comment about Foredog's post. Since he don't explain his "price action" system, is difficult to count the pips gained from September 14 to the present. He don't even mention the pair he test.

In your answer, you write that since that date, trading daily charts have yielded 2030 pips. That's for one pair?.... which one, please ?.... I like to study charts in weekends.

(Sorry for my english. Trying to do my best...)
  • #5,977
  • Oct 2, 2009 7:40pm Oct 2, 2009 7:40pm
Quoting bigboss
Strat:
I really like your thread more every day I read the old posts. I am convinced that if we search for good profit and stress free trading, you are teaching here the way to do.

I was reading your comment about Foredog's post. Since he don't explain his "price action" system, is difficult to count the pips gained from September 14 to the present. He don't even mention the pair he test.

In your answer, you write that since that date, trading daily charts have yielded 2030 pips. That's for one pair?.... which one, please ?.... I like to study...
Your English is very good - much better than my attempt with your language.

That pip count was hypothetical for the Daily time frame based on the pip count and ratio he posted for M15 and H1. Go back to the post by CrudeCraig to PistolDave a few pages back and do what that tells you and you will achieve the same thing - any pair will do.
15 YEARS OF PASR ON FOREX FACTORY!
  • #5,978
  • Oct 2, 2009 7:52pm Oct 2, 2009 7:52pm
Quoting Alexandra
E/J has my eye at the moment...looking a bit weak from the failure at 131.

Am prepared to cash in the longstanding continentals on another bump....not a sure thing, but prepared for it. Divorce papers are drafted but not filed.

Letting USDJPY lie for the moment
""Letting USDJPY lie for the moment""

This is not allowed - you are our Queen of USDJPY!
15 YEARS OF PASR ON FOREX FACTORY!
  • #5,979
  • Oct 2, 2009 8:04pm Oct 2, 2009 8:04pm
If you don't know what to do with this or don't know what it means, please go back to the beginning of The Path of Learning by going to the top right hand of the page and clicking "FIRST"
Attached Image (click to enlarge)
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15 YEARS OF PASR ON FOREX FACTORY!
  • #5,980
  • Oct 2, 2009 8:11pm Oct 2, 2009 8:11pm
Quoting strat
""Letting USDJPY lie for the moment""

This is not allowed - you are our Queen of USDJPY!

We are not amused. Anyway, I let it lie as long as possible. That weekly/daily combo speaks for itself now though, as we discussed at the beginning of the week. Entries are now well defined, if not already taken sub 89.
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