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  • #6,121
  • Oct 6, 2009 4:02pm Oct 6, 2009 4:02pm
Quoting strat
It never ceases to amaze me how DSRI Demand and Supply lines confine PRICE.

Keep watching this and when it breaks out ....................................
Having say this, Strat would you enter the market as soon as it breaks out OR you will wait for a nice close above a significant level for example 79.50?

Thanks
Sean
Discipline is PRIMARY, Method is Secondary.....
  • #6,122
  • Oct 6, 2009 4:15pm Oct 6, 2009 4:15pm
Quoting Dabestone
Having say this, Strat would you enter the market as soon as it breaks out OR you will wait for a nice close above a significant level for example 79.50?

Thanks
Sean
IF, I repeat, IF, the pattern holds true, there is a quadruple pip move to follow – but it will not be in a straight line.

Where and when to enter is up to each individual’s trading style. There are many traders who, with large $/pip contracts, will just trade the breakout to the next S/R level while others will be content with targets while still others will position themselves for the long haul.

Then there is the question of which S&R levels are being used – are they minor or major?

Either way, we must make sure we do not buy into strong resistance or sell into strong support. The low risk way to avoid this is to wait for a strong close above/below these levels.
15 YEARS OF PASR ON FOREX FACTORY!
  • #6,123
  • Oct 6, 2009 4:51pm Oct 6, 2009 4:51pm
[quote=strat;3121973]
Quoting Grimweasel
...
Thanks Strat - that is exactly what I was trying to intimate - that we know the bar is either up/down/doji - the reasons for that (ie news, funnymentals etc) are irrelevant to us traders. All we need to know is it's direction (bull/bear)

This has taken me a long time to realize but after you 'hammered' it into me a few posts back, I saw the light. Now I have even less stress trading the daily TF as I no longer need to seek out the reasons for every move/correlation etc; trawling the net for arguments on both sides of the camp to see who is/was right. I never understood when I first started on this business why people always said 'ignore the news, just trade the charts' . Surely the news moves the charts I thought, so we need to know? Naahhh! Forget it - just trade PASR and accept it for what it is - Thanks again Strat for another door opening in my trading Psych and education
Trade less and become more profitable!
  • #6,124
  • Oct 6, 2009 6:21pm Oct 6, 2009 6:21pm
Hi All,

Euraud case study update. Price is testing 1.6500 level again. If this level holds, we will see price goes sideway from 6500 to 7000. If it does not hold, next level is 6250-6300. Comments are welcome.
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  • #6,125
  • Oct 6, 2009 7:37pm Oct 6, 2009 7:37pm
Quoting patrick25
Hi All,

Euraud case study update. Price is testing 1.6500 level again. If this level holds, we will see price goes sideway from 6500 to 7000. If it does not hold, next level is 6250-6300. Comments are welcome.
Nice signature there, Patrick - you will go a long way!
15 YEARS OF PASR ON FOREX FACTORY!
  • #6,126
  • Oct 6, 2009 8:26pm Oct 6, 2009 8:26pm
Quoting strat
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?
That clears it up, thanks.
  • #6,127
  • Oct 6, 2009 8:36pm Oct 6, 2009 8:36pm
Strat

I am currently a lurker as i want to finish the thread first and as yet i am only at pg 70 so still a ways to go before i get involved. But i just wanted to say the last few posts # 6117 and 6120 are gold. Thks for what you put into this thread.

coop
  • #6,128
  • Oct 6, 2009 8:53pm Oct 6, 2009 8:53pm
Quoting Coop
Strat

I am currently a lurker as i want to finish the thread first and as yet i am only at pg 70 so still a ways to go before i get involved. But i just wanted to say the last few posts # 6117 and 6120 are gold. Thks for what you put into this thread.

coop
Welcome and thank you for your kind compliments. Take your time reading the thread and make sure you understand each post. Ask any questions on anything you don't understand.
15 YEARS OF PASR ON FOREX FACTORY!
  • #6,129
  • Oct 6, 2009 9:19pm Oct 6, 2009 9:19pm
Strat, do you still suggest that new traders read James16's thread to learn more about price action? Or have we covered all that ground here already?

If you do advise studying his thread, then would it be worthwhile to join his PF? I have only read up to about page 65 (out of 3000+) but there doesn't seem to be anyone posting much useful info by that point, so I assume that most of the activity had moved to the PF by then. That was sometime around 2 years ago, I think.

Or do you think that a beginner's time would be best spent going back to the beginning of your thread and reviewing the Path of Learning?

Dave
  • #6,130
  • Oct 6, 2009 9:31pm Oct 6, 2009 9:31pm
Quoting PistolDave
Strat, do you still suggest that new traders read James16's thread to learn more about price action? Or have we covered all that ground here already?

If you do advise studying his thread, then would it be worthwhile to join his PF? I have only read up to about page 65 (out of 3000+) but there doesn't seem to be anyone posting much useful info by that point, so I assume that most of the activity had moved to the PF by then. That was sometime around 2 years ago, I think.

Or do you think that a beginner's time would be best spent going back...

Hey Dave,

Have you watched all the free videos in the guest section?

I think the videos are a must for traders new to PASR.

http://www.james16group.us/Guests/guestmaterial.html
  • #6,131
  • Oct 6, 2009 9:32pm Oct 6, 2009 9:32pm
Quoting strat
A Tale of Two Candles – Charles Dinkins

Very cool post, its amazing how PASR works
  • #6,132
  • Oct 6, 2009 9:36pm Oct 6, 2009 9:36pm
Quoting PistolDave
Strat, do you still suggest that new traders read James16's thread to learn more about price action? Or have we covered all that ground here already?

If you do advise studying his thread, then would it be worthwhile to join his PF? I have only read up to about page 65 (out of 3000+) but there doesn't seem to be anyone posting much useful info by that point, so I assume that most of the activity had moved to the PF by then. That was sometime around 2 years ago, I think.

Or do you think that a beginner's time would be best spent going back to...
“”Strat, do you still suggest that new traders read James16's thread to learn more about price action? Or have we covered all that ground here already?

Or do you think that a beginner's time would be best spent going back to the beginning of your thread and reviewing the Path of Learning?””

These are very good questions, Dave and something I’ve been thinking about before.

I originally said to learn from J16 because my thread did not already have that instruction on it. That is clearly not the case now as we have some very detailed posts on PASR and candle recognition.

So for all NEW readers to the thread, my recommendation is to start at the beginning of the thread (The Path of Learning) and stay on it. Ignore where I say to visit J16 because we now have the information and details on here in subsequent posts.

My problem is how to change that instruction now the “Edit” function on those posts is no longer available? The only way I can think of is to make a statement on my first page.

Any comments/suggestions

Thanks for bringing this up Dave so that NOW I have to do something about it.
15 YEARS OF PASR ON FOREX FACTORY!
  • #6,133
  • Oct 6, 2009 9:51pm Oct 6, 2009 9:51pm
Strat, hope you didn't take that too seriously. Thanks for explaining the viewpoint from the pits.

Btw, it will be nearly impossible for a newcomer to go through the entire 2500+ pages of this thread. I have read approximately the first 50 and the last 20. I also read ALL the posts on your other site (sites.google.com). I reckon that's enough to give someone a good idea of the essence of this thread. If there are any true gems hidden in the thread, please point them out, it will be very useful to newcomers to this thread.

I am glad to be in this forum and look forward to some constructive conversations here.

Cheers,
Pandu
  • #6,134
  • Oct 6, 2009 10:23pm Oct 6, 2009 10:23pm
Quoting chanak
Strat, hope you didn't take that too seriously. Thanks for explaining the viewpoint from the pits.

Btw, it will be nearly impossible for a newcomer to go through the entire 2500+ pages of this thread. I have read approximately the first 50 and the last 20. I also read ALL the posts on your other site (sites.google.com). I reckon that's enough to give someone a good idea of the essence of this thread. If there are any true gems hidden in the thread, please point them out, it will be very useful to newcomers to this thread.

I am glad to be in this...
There are only 409 pages lol

Shouldn't be too hard to do if you split it up for a few days
  • #6,135
  • Oct 6, 2009 10:27pm Oct 6, 2009 10:27pm
Quoting chanak
Strat, hope you didn't take that too seriously. Thanks for explaining the viewpoint from the pits.

Btw, it will be nearly impossible for a newcomer to go through the entire 2500+ pages of this thread. I have read approximately the first 50 and the last 20. I also read ALL the posts on your other site (sites.google.com). I reckon that's enough to give someone a good idea of the essence of this thread. If there are any true gems hidden in the thread, please point them out, it will be very useful to newcomers to this thread.

I am glad to be in...
Reading 2500+ pages is really no big deal! (The average trading book is 200+ and i have read stacks of those!) If you cant do that then how will you be patient enough to take only A+ trades??
  • #6,136
  • Oct 6, 2009 10:48pm Oct 6, 2009 10:48pm
Quoting chanak
Strat, hope you didn't take that too seriously. Thanks for explaining the viewpoint from the pits.

Btw, it will be nearly impossible for a newcomer to go through the entire 2500+ pages of this thread. I have read approximately the first 50 and the last 20.
Time consuming, yes. Impossible, no. I am currently reading this thread for the third time and each time I find something important that I missed the previous time(s) I read the thread. I have literally been reading this thread for weeks. I'm not saying everyone should read it 3 times but not even bothering to read it once says something.

btw, Strat, thanks for sharing your experience and knowledge. I promise I'm not lurking, I'm just trying to soak all this great info up. It's been a slow process but worth it.

I tried just about every system known. My specialty used to be scalping the 5M charts. One thing I noticed is that just about every system required that the trader know S/R and price action. Well, I'm not the sharpest knife in the drawer but I finally figured out that price action is what was driving most of those systems and all those indicators where mostly just a bunch of bells and whistles (and bulls$#@!). So it seemed to me that if a person knew PA he would pretty much know everything he needed to know. So, here I am!

This is some good stuff!!! Thanks again, Strat!

Marto
  • #6,137
  • Oct 7, 2009 12:05am Oct 7, 2009 12:05am
Quoting chanak
Strat, hope you didn't take that too seriously. Thanks for explaining the viewpoint from the pits.

Btw, it will be nearly impossible for a newcomer to go through the entire 2500+ pages of this thread. I have read approximately the first 50 and the last 20. I also read ALL the posts on your other site (sites.google.com). I reckon that's enough to give someone a good idea of the essence of this thread. If there are any true gems hidden in the thread, please point them out, it will be very useful to newcomers to this thread.

I am glad to be in this...
With this "short cut" attitude you are doomed in this business. My recommendation is to forget trading and find something you don't have to study and can therefore get to the end before you start at the beginning.

Snakes and ladders or tiddlywinks are both very good options but don't try Monopoly as you may have to study a little to find the best properties.
15 YEARS OF PASR ON FOREX FACTORY!
  • #6,138
  • Oct 7, 2009 2:34am Oct 7, 2009 2:34am
Quoting strat
With this "short cut" attitude you are doomed in this business. ...
Most of you misunderstood me. I am not a newbie. I have been studying for over 15 years, trading on & off over that period. I studied, put it in practice, blew a few accounts, or life gets in the way and I have to put it on the back burner. For the past 15 months or so I have focussed on trading fx and started live trading again, on a small scale.
As I said in my introductory post I have read all the books, tried many EAs and 'Systems', but nothing seemed to sync with my instinctive feeling that price action, support, resistance, trends are the key. Reading the core of Strat's system here immediately confirmed that I had found confirmation of my instinctive understanding of the markets. I don't really need to read every post. All I needed was the courage to follow my thinking, which was helped by Strat articulating PASR so clearly and forcefully here, and seeing the examples. This has helped my psychology immensely too.

Fwiw, since I got on this forum last week and changed my trading methods to PASR this week, my trades have improved dramatically. More importantly I don't feel stressed, I don't feel the need to stare at the screen for hours. My confidence has improved.

Thank you Strat, Nic and all others on this thread.

Pandu
  • #6,139
  • Oct 7, 2009 6:50am Oct 7, 2009 6:50am
Quoting patrick25
Hi All,

Euraud case study update. Price is testing 1.6500 level again. If this level holds, we will see price goes sideway from 6500 to 7000. If it does not hold, next level is 6250-6300. Comments are welcome.
Once you get confirmation of the bottom, would you drop down to a lower TF chart to pick the entry point Long?
  • #6,140
  • Oct 7, 2009 10:15am Oct 7, 2009 10:15am
Quoting TTMarto
Time consuming, yes. Impossible, no. I am currently reading this thread for the third time and each time I find something important that I missed the previous time(s) I read the thread. I have literally been reading this thread for weeks. I'm not saying everyone should read it 3 times but not even bothering to read it once says something.

btw, Strat, thanks for sharing your experience and knowledge. I promise I'm not lurking, I'm just trying to soak all this great info up. It's been a slow process but worth it.

I tried just about every system...
I agree I have been lurking reading and understanding for a month now. I thought I was close to finising a week ago, but it took me a while on some pages to really absorb what is being said.

I promise I will contribute when done, I just don't want to be ripped into to much by Strat by showing my lack of understanding
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