Strat's Long Term Stress Free Trading | Page 302 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Strat's PASR Long Term, Stress Free Trading 18,592 replies

M5 PASR Trend Trading Strat 95 replies

What you need for trading: indis, a strat & good music 27 replies

Another way to stress free, mechanic long term trading 29 replies

Short Term / Medium Term / Long Term? 3 replies

Attachments: Strat's Long Term Stress Free Trading
Exit Attachments

Strat's Long Term Stress Free Trading

  • #6,021
  • Oct 3, 2009 12:50pm Oct 3, 2009 12:50pm
Quoting Grimweasel
Strat - your Fibs - do you track them up from the last low each time? I always thought that one drew them from the lows to the high on the chart window you had at the time?
Correct placement of fibs, if there is such a thing, is very difficult and fickle. To know which swing to use requires an understanding of waves - not necessarly Elliott waves but waves in general which is beyond the teachings of this thread. We will get into this in Advanced Trading Techniques.

If you look at where I placed my starting point relative to the waves preceding it, you may get an understanding.

Hint: Think waves and swings.
15 YEARS OF PASR ON FOREX FACTORY!
  • #6,022
  • Oct 3, 2009 12:51pm Oct 3, 2009 12:51pm
Quoting foredog
Not a smart ass at all, if you check the few posts i've put here and the ones on Trade2win under the same user name you'd see i'm usually trying to help people who are confuse or want help etc. I was actually trying to be helpful to anyone who was looking at lower TF's , but the point was lost, not out to start an internet argument as that would be pointless, leave it there as a misunderstanding rather than thinking anything more sinister.
OK, let's shake hands and move on!
15 YEARS OF PASR ON FOREX FACTORY!
  • #6,023
  • Oct 3, 2009 1:04pm Oct 3, 2009 1:04pm
Quoting strat
Correct placement of fibs, if there is such a thing, is very difficult and fickle. To know which swing to use requires an understanding of waves - not necessarly Elliott waves but waves in general which is beyond the teachings of this thread. We will get into this in Advanced Trading Techniques.

If you look at where I placed my starting point relative to the waves preceding it, you may get an understanding.

Hint: Think waves and swings.
Cheers Strat - got it. A bit like one of the rules in 'that' book. Never buy after 3 pushes up and never sell after 2 pushes down.
Trade less and become more profitable!
  • #6,024
  • Oct 3, 2009 1:12pm Oct 3, 2009 1:12pm
Quoting Grimweasel
Cheers Strat - got it. A bit like one of the rules in 'that' book. Never buy after 3 pushes up and never sell after 2 pushes down.
Give the books a break, Danny boy!

What you have just said is ABSOLUTE RUBBISH!

If we did as you say, we could never ride a trend!

In a long trend I will buy and buy - I don't care whether there are 3 long candles, 5 candles, 7 candles or whatever.

You cannot make rules for individual markets which respond to different stimulants - you can only trade them on their individual merits
15 YEARS OF PASR ON FOREX FACTORY!
  • #6,025
  • Oct 3, 2009 1:18pm Oct 3, 2009 1:18pm
Quoting strat
Correct placement of fibs, if there is such a thing, is very difficult and fickle. To know which swing to use requires an understanding of waves - not necessarly Elliott waves but waves in general which is beyond the teachings of this thread. We will get into this in Advanced Trading Techniques.

If you look at where I placed my starting point relative to the waves preceding it, you may get an understanding.

Hint: Think waves and swings.
I totally missed that 50% Fib on GBPUSD...need to delve into my Fibs more.

On this theme what about the EURUSD weekly I see a near perfect hammer on the BOSS, and if I draw my Fib as attached a lovely reaction against the 50%. Dropping to the WORKER the picture is not so clear...on one brokers chart a reaction to the August 18th DRSI on another not...but if my 50% Fib is there...also LL and LH not bullish...also caught in a MA sandwich between the 20 and 50. BOSS and BIG BOSS say up. On the WORKER I need clearer PA to consider an entry.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd_03_oct_09_weekly.gif Size: 13 KB
Hope is not a trading strategy
  • #6,026
  • Oct 3, 2009 1:55pm Oct 3, 2009 1:55pm
Quoting strat
Building a solid base or taking a rest before…………………………?

Och weel, laddies, that’s it fer the noo,

Lang may yer lum reek!


Looking at the BOSS I see HH and HL's and a not so perfect Hammer. I want the BOSS to agree with the worker again and get with the trend, otherwise I'm left on the fence.
Hope is not a trading strategy
  • #6,027
  • Oct 3, 2009 2:06pm Oct 3, 2009 2:06pm
Quoting strat
“”Good piece this week on why GBP Sterling is doomed””

When you start hearing this, seeing this and the talking heads are saying this then you know Joe Public is jumping in with both feet (Fools Rush In) and the sheep are near the edge of the cliff. This is the time when the big boys………?

Who do we follow? The big boys or Joe Public?
I also subscribe to MoneyWeek (and got that e-mail), I also get the EW newsletter (which has been the trigger for two terrible trades this year)...I think I have started to turn the volume down on this stuff and now it is just starting to help me understand what other views are out there...but should we read it? Somewhere deep in our minds is it influencing what we are seeing on the charts? Do those e-mails trigger bad trades (for me they have in the past).

Should we just cut this stuff out of our lives (other peoples trade opinions) and just look for PASR?
Hope is not a trading strategy
  • #6,028
  • Oct 3, 2009 2:09pm Oct 3, 2009 2:09pm
Quoting strat
Give the books a break, Danny boy!

What you have just said is ABSOLUTE RUBBISH!

If we did as you say, we could never ride a trend!

In a long trend I will buy and buy - I don't care whether there are 3 long candles, 5 candles, 7 candles or whatever.

You cannot make rules for individual markets which respond to different stimulants - you can only trade them on their individual merits
I think what was meant was until there is a better PASR opportunity to get into a longer term move Strat? Ie wait for a pullback / retrace at a better price, not sit out entirely.
Trade less and become more profitable!
  • #6,029
  • Oct 3, 2009 2:10pm Oct 3, 2009 2:10pm
Quoting strat
In The Navy – The Village People 1979

Or maybe, Viva Espana

2 down, 1 up, 1 down, 1 up – there is definitely a pattern here for all to see!
Another lovely hammer on the weekly
Hope is not a trading strategy
  • #6,030
  • Oct 3, 2009 2:16pm Oct 3, 2009 2:16pm
Quoting Sinan
I also subscribe to MoneyWeek (and got that e-mail), I also get the EW newsletter (which has been the trigger for two terrible trades this year)...I think I have started to turn the volume down on this stuff and now it is just starting to help me understand what other views are out there...but should we read it? Somewhere deep in our minds is it influencing what we are seeing on the charts? Do those e-mails trigger bad trades (for me they have in the past).

Should we just cut this stuff out of our lives (other peoples trade opinions) and just...
There could be some mileage in this you know Sinan! I think the key is to ignore all news/opinions etc when u decide to sit at your charts. It's like stepping into a trading zone where you have just you, the charts and your broker for entry/exit. I've added it to my pre-trading read of my rules - IGNORE ALL THAT YOU THINK YOU KNOW AND TRADE THE PA. I wrote it in big bold letters like that to help remind me!!

This is why I like trading Forex as I tend to read stuff about investment in companies etc. I resist the urge to 'trade' my ISA (long term retirement portfolio) and stick with strategic themes. I guess this is what I read that stuff for.

For trading though it can be destructive so I try NOT to read anything about Forex or currencies in the press/websites etc for that very reason! Let's see how it develops.
Trade less and become more profitable!
  • #6,031
  • Oct 3, 2009 2:17pm Oct 3, 2009 2:17pm
A reminder for all.....
Attached Image (click to enlarge)
Click to Enlarge Name: Break-even_Cure.png Size: 45 KB
Trade less and become more profitable!
  • #6,032
  • Oct 3, 2009 3:07pm Oct 3, 2009 3:07pm
Quoting strat
“”Good piece this week on why GBP Sterling is doomed””

When you start hearing this, seeing this and the talking heads are saying this then you know Joe Public is jumping in with both feet (Fools Rush In) and the sheep are near the edge of the cliff. This is the time when the big boys………?

Who do we follow? The big boys or Joe Public?
Couldn't agree more.

Look at the last few years.......

Remember oil hitting $138 and everyone was moaning about the price of petrol...all the analysts etc were calling $200 etc and what happened.........$50

S&p hit 666 (if i remember rightly) newspapers etc saying it's the end of the world.............rally rally.

Christmas.ish 2008..............Eurogbp rallying, all the papers calling parity......haven't got there yet.

March 2003........FTSE hit lows after the madrid bombings.........BBC radio5 outside he office the next morning...........the worlds all over etc..............guess what day was the low?

Strat's spot on, trade what you see not what you hear..............

Oh and my all time fave, 1999 when my neighbour who worked in a factory told me to follow the tips in the Daily Mirror as they were good. At the time I was a Market Maker in smaller co's so knew what was going on..........cheers mate....sell signal?????
  • #6,033
  • Oct 3, 2009 3:08pm Oct 3, 2009 3:08pm
Quoting Grimweasel
A reminder for all.....
Scary..........


Good reminder to keep those losses small!
  • #6,034
  • Oct 3, 2009 3:36pm Oct 3, 2009 3:36pm
Quoting strat
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"
Hi

I am making the assumption that you are saying that this is a pin bar/hammer?

Can you expand on your thoughts about this? Do you still consider this a pin bar/hammer even though its in the middle of weeks of consolidation? And that its appearance is enough to signal the breakout of consolidation and a continuance of the uptrend? The weekly charts shows 7 weeks of going nowhere.

In my experience, I have seen pin bars, especially ones in consolidation, fail a bit.

Your thoughts will be appreciated.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: audjpy.gif Size: 23 KB
Click to Enlarge Name: audjpy2.gif Size: 23 KB
  • #6,035
  • Oct 3, 2009 3:50pm Oct 3, 2009 3:50pm
Quoting Sinan
I totally missed that 50% Fib on GBPUSD...need to delve into my Fibs more.

On this theme what about the EURUSD weekly I see a near perfect hammer on the BOSS, and if I draw my Fib as attached a lovely reaction against the 50%. Dropping to the WORKER the picture is not so clear...on one brokers chart a reaction to the August 18th DRSI on another not...but if my 50% Fib is there...also LL and LH not bullish...also caught in a MA sandwich between the 20 and 50. BOSS and BIG BOSS say up. On the WORKER I need clearer PA to consider an entry.

I am no expert on fibs but i do know they need to be drawn from swing highs to swing lows as this is how most will draw them (they are a self fulfilling prophecy).

It seems you have drawn this fib to fit the trade you would like to take. We have to be real careful of doing this as it can be done with TL's as well and will lead to misinterpretation of your charts.

Please speak up if i have missed something, i just didn't see any swing low where you had your fib drawn.
  • #6,036
  • Oct 3, 2009 3:54pm Oct 3, 2009 3:54pm
Quoting Sinan
Looking at the BOSS I see HH and HL's and a not so perfect Hammer. I want the BOSS to agree with the worker again and get with the trend, otherwise I'm left on the fence.

I see LH's and LL's on my chart!
  • #6,037
  • Oct 3, 2009 4:04pm Oct 3, 2009 4:04pm
Quoting CrudeCraig
I see LH's and LL's on my chart!
I have attached my chart
Attached Image (click to enlarge)
Click to Enlarge Name: usdcad_03_oct_09_weekly.gif Size: 12 KB
Hope is not a trading strategy
  • #6,038
  • Edited 4:23pm Oct 3, 2009 4:16pm | Edited 4:23pm
Quoting Sinan
I have attached my chart
Here is an example
Attached Image
  • #6,039
  • Oct 3, 2009 4:24pm Oct 3, 2009 4:24pm
Quoting CrudeCraig
I am no expert on fibs but i do know they need to be drawn from swing highs to swing lows as this is how most will draw them (they are a self fulfilling prophecy).

It seems you have drawn this fib to fit the trade you would like to take. We have to be real careful of doing this as it can be done with TL's as well and will lead to misinterpretation of your charts.

Please speak up if i have missed something, i just didn't see any swing low where you had your fib drawn.
On my chart I see a swing low there from around the 21st April (more clear on the daily), the date matches up with the level drawn on the GBPUSD chart (although charts should be kept seperate).

I would not of drawn the Fib this way normally...

Perhaps I do not see the major difference between the charts...I wanted to put it up to provoke some debate...
Hope is not a trading strategy
  • #6,040
  • Oct 3, 2009 4:25pm Oct 3, 2009 4:25pm
Quoting CrudeCraig
Here is an example
I am referring to just the last three candlesticks on the weekly, only on those I see HH and HL, from your diagram two HH HL's

Is that too few sticks to look at?
Hope is not a trading strategy
28 traders viewing now