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  • #6,101
  • Oct 6, 2009 10:20am Oct 6, 2009 10:20am
Quoting DeadCowboy
I only posted the two charts because another member asked to see them. And as far as the " See if this works" statement, it was in reference to the admin. posting the charts so early in my FF posting venture. Usually they make you wait longer. Anyways, I'll keep to myself for now, but hope to contribute in the near future.....and YES, I am a little sensitive. I guess it comes from raising 4 daughters...uuggghh.
""I guess it comes from raising 4 daughters...uuggghh.""

Now I understand the PINK candles!

Also, what's this "anywho" - are you meaning to say "any how"?
15 YEARS OF PASR ON FOREX FACTORY!
  • #6,102
  • Oct 6, 2009 10:22am Oct 6, 2009 10:22am
Quoting PistolDave
I'm not too "up" on all the urban talk, so could you explain what you mean by:



Thanks.
I have no idea Dave - which post was that?
15 YEARS OF PASR ON FOREX FACTORY!
  • #6,103
  • Oct 6, 2009 11:11am Oct 6, 2009 11:11am
[quote=chanak;3121401]
Quoting strat
[font=Arial]Again, I don’t understand funny mentals – there is no logic in it for my simple mind to understand....
“”Strat, there is a small catch to your quote above: There cannot be more buyers than sellers, (or vice versa) since for every transaction there is one buyer and one seller. I guess what you mean to say is that when prices go up buyers are more aggressive in bidding the price up, and when prices go down its because sellers are afraid and willing to ask lower to sell.””

My initial reaction to this is that we have another smart ass joining in but I can see you have said it out of ignorance for what really goes on in the markets.

I also suspect you have just jumped in on page 407 WITHOUT reading the whole thread, especially the Dr. Joe post. Had you read the post on Dr. Joe’s visit to the CME pits and the blow by blow account of what REALLY goes on in exchange trading, you would not have posted your silly comment.

Anyway, Pandu, welcome to the thread but PLEASE read the thread before posting any more silly comments – OK?

There is no catch, big or small – it is FACT.

Price goes UP because there are more traders wanting to buy the instrument which then creates DEMAND and then more traders see the demand and jump on the band wagon and buy. If we were to see split volume on Forex, we would see that the volume of buyers was far in excess of the volume for sellers.

This creates OUT OF BALANCE – the market has to be OUT OF BALANCE to move in any direction. This means there is more demand than supply or vicky verky. When supply equals demand, we have equilibrium or balance and a market that is stagnant, going nowhere. As traders looking for opportunity, we don’t like markets in equilibrium.

You have let the “Zero Sum Game” cloud your thinking. Yes there is always one seller for every buyer but it isn’t really that simple. At any one small, minute increment in time, there are already traders with long and short positions, then there are new traders coming in with short and long positions, then there are the big boys with their computer generated long and short positions above and below where price is at now. This used to be all finely balanced by brokers finding traders to take the other side of positions. This is all done now in a split giga second by electronic computer trading which is one of the many reasons why forex has the highest volume of trading than any other type of trading.

When the market closes at 4pm NY time on Friday, the market is in equilibrium, balance because there are no more inputs (orders) to the market so there are as many long positions as there are short. But when Auckland, New Zealand, opens at 8am on Monday morning their time, the market immediately goes out of balance because, “at that point in time” orders are being input and there will be more of one type than the other creating either a DEMAND or a SUPPLY. Unfortunately, the VOLUME traded in Auckland is usually the smallest out of all the forex exchanges and the resultant movement of price is usually small.

So, let it be clear for everyone:

A market goes UP because there are MORE BUYERS than sellers

A market goes DOWN because there are MORE SELLERS than buyers.
15 YEARS OF PASR ON FOREX FACTORY!
  • #6,104
  • Oct 6, 2009 11:17am Oct 6, 2009 11:17am
Current Profiteering Adventure
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  • #6,105
  • Oct 6, 2009 11:37am Oct 6, 2009 11:37am
[quote=Grimweasel;3121694]
Quoting chanak

Have to watch this with Shares though as there are sometimes 'lenders' in the market. Some big MMs and Brokers will have a pool of shares waiting to be traded. These shares can be 'lent' to CFD traders or sold to buyers. Are these 'dormant' shares already purchased by the broker or 'lent' on condition of sale by the company issuing the shares?

In Forex I would imagine that this wouldn't be the case as it's a Zero-Sum game - two sides to the transaction?

Do we really need to know 'why' a bull bar has appeared on a chart...
Do we really need to know 'why' a bull bar has appeared on a chart though?

Danny boy, your handle should have been “Day Tripper” as your mind seems to wander in and out of focus more times than our first 1953 black and white telly!

As technical traders, we trade our charts using technical analysis of PRICE. Nothing else.

We watch and study PRICE, nothing else, whether it be on a price bar or a candle. There is also a very important time element but because our MT4 charts are “automatic” and logarithmic in scale, we cannot perform time element analysis and studies. In any event, we have enough on our plate trying to follow PRICE!

We do not care or need to know why PRICE did what it did from a funny mentals perspective.

We DO need to know WHO is in CONTROL of that price bar. We DO need to know the MARKET SENTIMENT at all times. We do not need to know the funny mentals of why?

This is ALL we need to know as technical traders.

Let’s do a quick example on USDJPY:

At this point in time, Tuesday, October 06, 2009 at 12:30pm NY time:

Market sentiment is BEARISH

Sellers are still IN CONTROL

Worker and BOSS trend is DOWN

We do not care what caused this to happen or why?

If we did, how would this help us as technical traders?

The danger of “knowing” this or “listening to the talking heads” is that on your sub conscious level, your thinking, and therefore trading direction, has already been “programmed” into you.

Always keep an OPEN mind

Do NOT marry your trades – be ready to DUMP her as soon as she gets “grumpy”
15 YEARS OF PASR ON FOREX FACTORY!
  • #6,106
  • Oct 6, 2009 11:43am Oct 6, 2009 11:43am
Adventure #2
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  • #6,107
  • Oct 6, 2009 11:58am Oct 6, 2009 11:58am
Quoting strat
I have no idea Dave - which post was that?
It was DeadCowboy's post 6094.

It's not important, I just wondered what that meant. Never heard of it.
  • #6,108
  • Oct 6, 2009 12:03pm Oct 6, 2009 12:03pm
Adventure #3
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  • #6,109
  • Oct 6, 2009 12:07pm Oct 6, 2009 12:07pm
On this boss chart of EurCad, does the candle marked 3 have to close lower than the close of candle 1 or 2 to be a confirmation of the swing high?

Could you explain how that is done again? I can't seem to recall exactly how to do it.

Thanks,
Dave

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  • #6,110
  • Oct 6, 2009 12:11pm Oct 6, 2009 12:11pm
It keeps going until ....
(there are more buyers than sellers, hehe)
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  • #6,111
  • Oct 6, 2009 12:30pm Oct 6, 2009 12:30pm
Quoting PistolDave
On this boss chart of EurCad, does the candle marked 3 have to close lower than the close of candle 1 or 2 to be a confirmation of the swing high?

Could you explain how that is done again? I can't seem to recall exactly how to do it.

Thanks,
Dave

Attachment

Dave,

Using your chart:

Candle 2 is a CONFIRMED swing high (assuming candle 3’s low is lower than candle 2).

For a CONFIRMED swing high, the high must be higher than the preceding bar and there must be a LOW lower than the low of the swing high.

We use ALL the candle for determination of swings, not just the close.

Does this help?
15 YEARS OF PASR ON FOREX FACTORY!
  • #6,112
  • Oct 6, 2009 12:37pm Oct 6, 2009 12:37pm
Well your trading certainly lives up to your handle!

These are wild, WILD, cowboy trades! Some good, some risky and some downright seat of the pants trading. This lack of trading DISCIPLINE will eventually be your demise.

Sooner or later, if not already happened, you will meet Eskimo Nell and she will blow you and your accounts out of the water!
15 YEARS OF PASR ON FOREX FACTORY!
  • #6,113
  • Oct 6, 2009 12:40pm Oct 6, 2009 12:40pm
Quoting elitejets
It keeps going until ....
(there are more buyers than sellers, hehe)

Same with AUD/USD and EUR/AUD. Earlier today Australia had a surprise interest rate increase so AUD stength looks to continue on.
  • #6,114
  • Oct 6, 2009 12:51pm Oct 6, 2009 12:51pm
It never ceases to amaze me how DSRI Demand and Supply lines confine PRICE.

Keep watching this and when it breaks out ....................................
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15 YEARS OF PASR ON FOREX FACTORY!
  • #6,115
  • Oct 6, 2009 1:00pm Oct 6, 2009 1:00pm
Especially for those doubting the use of moving averages in our method.

No words need be spoken

No words need be written

Dorothy – Just follow the Yellow Brick Road!

Or maybe it’s a simple study of Young’s Modulus of Elasticity!
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15 YEARS OF PASR ON FOREX FACTORY!
  • #6,116
  • Oct 6, 2009 1:10pm Oct 6, 2009 1:10pm
Red, White & Blue or Young's Modulus of Elasticity?

Especially for those doubting the use of moving averages in our method.

No words need be spoken

No words need be written

Patriots – Just follow the Red, White & Blue!

Or maybe it’s a simple study of Young’s Modulus of Elasticity!
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15 YEARS OF PASR ON FOREX FACTORY!
  • #6,117
  • Oct 6, 2009 1:29pm Oct 6, 2009 1:29pm
Still not convinced?

This is Investing

2 minutes at the end of each month for untold riches!

I challenge anyone to show a simpler, easier way of making money

Don’t try this at home without a big, fat trading account

The Red and Blue MAs are just there for people who still have difficulty recognizing that rising prices = uptrend and falling prices = downtrend.

No indicators – NOTHING – just your Mark I eyeballs, an open mind and a fat wallet.
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15 YEARS OF PASR ON FOREX FACTORY!
  • #6,118
  • Oct 6, 2009 1:42pm Oct 6, 2009 1:42pm
Everyone has a comfort level of their own risk tolerance, I have spent many many many years finding mine. My losses are usually very tiny compared to my gains, I trade a little more high risk, but to me it is stress free because of my past track record and MM. I spend a lot of time in and out of the market with many currencys simply because I ONLY trade with the trend. I really applaude Strats stress free trades, that's why I'm here. I am getting older now and trade more for sport than capital. I am here to utilise a little less aggresive approach for longer runs. Stress Free to me is a relative term. I like strats strees free zone, and oddly enough my hit em hard style is relatively stress free for me. BTW, I wasnt always like this. I started off with a very conservative style until the money piled up. And believe me, anything is stress free compared to the 5 and 10 min charts I used to attack. In my future posts I promise to only post the Strat trades as I see em. Im out.!
  • #6,119
  • Oct 6, 2009 3:24pm Oct 6, 2009 3:24pm
Sorry, last map.
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  • #6,120
  • Oct 6, 2009 3:59pm Oct 6, 2009 3:59pm
A Tale of Two Candles – Charles Dinkins

These situations fascinate me and show PASR at its best. I reckon one would almost pay for set ups like this.

Candle # 1
This is a perfect hammer at the confluence of minor support and 61.8% ice cream man retracement.

It is also the CONTROLLING candle in terms of DEMAND.

Those with a very aggressive trading style could have made triple pips on a counter trend trade to reverse PASR. It would have been a very HIGH RISK trade because the downward negative momentum was so strong.

Candle # 2

This is a perfect shooting star at the most recent resistance.

It is also the CONTROLLING candle in terms of SUPPLY.

The second shooting star was a RE – TEST of resistance and was probably the easiest triple pip ATM trade we could take.

Now, you don’t need to be a psychic, fortune teller or David Copperfield to know what the next candle will do or do you?

And again, just for those doubters and non believers of the worthiness of our MAs, look how so very easy they make our trade management and trade selection.

So, who is IN CONTROL?
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15 YEARS OF PASR ON FOREX FACTORY!
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