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Strat's Long Term Stress Free Trading

  • #6,181
  • Edited 1:00pm Oct 8, 2009 11:14am | Edited 1:00pm
Quoting strat
Here is an example about needing to be mentally tough for this business.

This guy sent me this PM - he didn't even have the balls to post in the thread!

samer960 baby,...


http://cdn.forexfactory.com/images/icons/icon1.gif sadiq
hi start
u try to intimidate people , is it a complex or something ? did u open this thread to show your muscles or to help traders .
make an effort to be more modest man . u might be successful and u know something about forex but others might know even more than u and are even more successful...
Jacko describes himself as a trend trader - he made his living initially on the daily chart and moved to 4 hr due to the increased volitility of the past year. Trading the 1M chart is just not a consistent way of investing for those of us on this thread, and is not something he would advocate.

It's not intimidation from us - it's just a way of alerting you (and more importantly others) not to be lured into the world of short term intraday folly.

Meanwhile, AUDJPY has breached the big fat line to support gold, the Aussie, and....God forbid, economic recovery. Many would say, however, that E/J needs to follow to confirm and, at the moment, that pair remains below the big fat line.

Who was it last week who alerted everyone to pick the proper Yen pair? Hmmmmmmm..........
  • #6,182
  • Oct 8, 2009 11:15am Oct 8, 2009 11:15am
http://cdn.forexfactory.com/images/icons/icon1.gif sadiq
when i asked about euro and u made a laugh at me i short it and made 200 pip , or 200 pip for u is nothing or we should always look 1000 pip with 0.1 lot !! u handed me the book the other way round that day . as for reading books i have a PHD and i dont think u have one . otherwise u would be more modest

I dont think Strat need defenders, but.... I also have a PHD. Sadly, its not in Forex . So, I will try to learn with open mind as any average Joe.

I like Strat's teaching stile. It remembers me a professor I had in the university. I sustain acrid arguments with him (only when I though I have a point). But gess what ?... he teach me his subject better than any, coz he forced me to think.......Now, he is one of my best friends.
I still sustain arguments with him, but now he lisen to me very carefully.... because I earn it.

The fact is that nobody is obliged to change his personality only to please somebody. I think respect is good if is gived.... but is much better if is earn it.
  • #6,183
  • Oct 8, 2009 11:18am Oct 8, 2009 11:18am
Quoting strat
Here is an example about needing to be mentally tough for this business.

This guy sent me this PM - he didn't even have the balls to post in the thread!

samer960 baby,

I was not going to be drawn into your stupid, pathetic little world but your reference to being one of Jacko's group changed that.

You only made 200 pips because Jacko tells his group his entries and exits - that is NOT trading - anyone can make pips by COPYING a successful trader!

Jacko HAS to be nice to you - you paid him $750 to join his group! He wants...
as for reading books i have a PHD and i dont think u have one . otherwise u would be more modest

Sounds like the only thing this guy has a PHD in is being a cry-baby.

Why be modest? Why be shy? Will the market be modest when it cleans out your account if you don't learn to trade correctly?

Strat, I say let's hear it straight, and we can get hand holding somewhere else.

Dave
  • #6,184
  • Oct 8, 2009 11:18am Oct 8, 2009 11:18am
o my gaod, very pour english that you okkasionally see every once in a month
ur phd is not in engleesh for sure, hoho.
Quoting bigboss
http://cdn.forexfactory.com/images/icons/icon1.gif sadiq
when i asked about euro and u made a laugh at me i short it and made 200 pip , or 200 pip for u is nothing or we should always look 1000 pip with 0.1 lot !! u handed me the book the other way round that day . as for reading books i have a PHD and i dont think u have one . otherwise u would be more modest

I dont think Strat need defenders, but.... I also have a PHD. Sadly, its not in Forex . So, I will try to learn with open mind as any average...
  • #6,185
  • Oct 8, 2009 11:22am Oct 8, 2009 11:22am
Quoting charvo
o my gaod, very pour english that you okkasionally see every once in a month
ur phd is not in engleesh for sure, hoho.
Nope, it is not
But at least, I try to improve it every day. Why you don't try to do the same ?....
  • #6,186
  • Oct 8, 2009 11:31am Oct 8, 2009 11:31am
Quoting bigboss
Nope, it is not
But at least, I try to improve it every day. Why you don't try to do the same ?....
I agree...

... but I seem to recall haroldfx saying, when someone told him to improve his punctuation, "you tell me to use capitals and periods. so what does spelling have to do with making money."

He was right.
  • #6,187
  • Oct 8, 2009 11:41am Oct 8, 2009 11:41am
Quoting PistolDave
I agree...

... but I seem to recall haroldfx saying, when someone told him to improve his punctuation, "you tell me to use capitals and periods. so what does spelling have to do with making money."

He was right.


Not with spelling, but with improving.....

He is wrong.
  • #6,188
  • Oct 8, 2009 12:46pm Oct 8, 2009 12:46pm
OK, Enough!

Let's get back to extracting money from the market.
15 YEARS OF PASR ON FOREX FACTORY!
  • #6,189
  • Oct 8, 2009 1:12pm Oct 8, 2009 1:12pm
EURGBP and EURUSD are both in interesting positions for discussion.

Because trading is 95% a head game, we are often in conflict with ourselves. Our technical side constantly battles our psychological side.

EURGBP and EURUSD are two pairs that can do that to us now.

Let’s look at EURGBP:

From what I can gather, and I don’t really know, the talking heads are calling for parity on EURGBP.

Some technical analysts are saying the top is in already.

So, with what WE know, we look at our charts and see:

A previous shooting star at minor resistance BUT still controlling supply.

A lower top, which some could think is a double top.

Major resistance is a long way away.

Now, with our Dr. Joe mentality, we see just another opportunity to go long again.

There will be as many traders thinking top as there will buy, which is called LIQUIDITY.

It all presents CONFLICT in our tiny little mind.

Let’s open up a discussion by following these two pairs here on the thread. We need two volunteers to track these two pairs swing by swing. One for EURGBP and one for EURUSD. Everyone then share their input to what they think the pair will do.

This will give us the opportunity to watch and discuss as this pair evolves to higher highs or lower lows.
Attached Image (click to enlarge)
Click to Enlarge Name: eurgbp.gif Size: 31 KB
15 YEARS OF PASR ON FOREX FACTORY!
  • #6,190
  • Oct 8, 2009 2:29pm Oct 8, 2009 2:29pm
Hi Strat!!

I don't know if i can be the volunteer for EURUSD...surely there's someone more expert or prepared than me...
But I can try...

These are the charts...and what I see...

BOSS uptrend is solid...it seems...DSRI is supporting the trend and this week candle is bullish...moving averages confirm the trend...they are pointing high...
We are on an important area of resistence.
1.48 is giving some trouble to the price...on the DAILY the trend is up and strong...we are at the previous high...fighting for a breakout...but who knows...

If we break 1.48 area...I have another resistence at 1.49...and then some very good space for the price to go to 1.54.

I hope the analysis is good enough...

Let's follow it day by day...

P.S. the DSRI on the daily is not the daily DSRI...but the weekly DSRI (I didn't delete it from the chart...sorry...)
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eurusdboss.gif Size: 16 KB
Click to Enlarge Name: eurusdworker.gif Size: 15 KB
Market is like a puzzle, YOU have to fit the pieces!!
  • #6,191
  • Oct 8, 2009 3:15pm Oct 8, 2009 3:15pm
Technical qualifications matter naught in trading

All this discussion about PhDs reminds me of my earlier trading back around 1990 or 1992.

At that time, I was of the opinion my qualifications should make me a fantastic trader. I quickly learned they were a hindrance.

While trading Futures and Commodities, I became wrapped up in the $Million traders who dominated the trading media with their experiences of taking $X and making it into $1 million within a year. This led me into following many trading competitions.

One particular year, the 1st and 2nd places were won by ex- Marines. When I delved further into the trading results of past competitions, I saw the same pattern – many traders in the top ten were ex – Military.

I searched the media until I eventually found an interview with one of these traders. What I read absolutely knocked me out! This guy only had a high school education, nothing beyond that as he went straight from school to the Marines. Neither did he have some high tech trading system. What he did have though was…………………………….. DISCIPLINE.

Like all Military trained personnel, DISCIPLINE was drilled into him – follow orders and rules. That’s all he said he did – just blindly follow the rules, no questions asked and never any doubt, only 100% complete faith and confidence in himself and his system.

I would gladly swap my qualifications for DISCIPLINE.
15 YEARS OF PASR ON FOREX FACTORY!
  • #6,192
  • Oct 8, 2009 3:23pm Oct 8, 2009 3:23pm
Hi Strat,

Here's a crack at EURGBP will start with the BOSS:

BOSS - Price has been rejected off the supply DSRI starting Dec 2008. This has left us with what looks like a hanging man (bearish) pattern (although body is a bit big) from last week and a shooting star this week (although week is not over and we need to close), Would at the moment expect price to retreat initially to the 50% Fib where we would get a confluence of support with the 20 and 50. Trend is up so might take a couple more weeks (months) but would expect this triangle pattern to end with a break to the upside with an initial push on the Fib 161.8 Fib where we get a confluence with the Dec 2008 high just short of parity.

WORKER - hmmmm....this chart makes me question the pretty picture above. Trend is up, we are working with the boss. We are consolidating around the supply DSRI and I see a rounded bottom (accumulation) from September. From this I would expect an upside break soon...

I would place a conservative entry at 0.931 (hoping to miss any false breakouts), target would initally be 0.98 but would watch daily PA to determine exit.

If we do go lower and break below the rounded bottom that is also a nice failed signal which would confirm the BOSS picture above. Nice short entry but I would not take the counter trend trade.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eurgbp_08_oct_09_weekly.gif Size: 12 KB
Click to Enlarge Name: eurgbp_08_oct_09_daily.gif Size: 11 KB
Hope is not a trading strategy
  • #6,193
  • Oct 8, 2009 3:46pm Oct 8, 2009 3:46pm
The end of 2007 and beginning of 2008 saw an area of congestion at the same price levels we are seeing now. Price had a difficult time climbing above ~1.48 unitl it exploded up to 1.6. I would have expected it to have some back and forth here in this neighborhood. No surprise to me.
put it another way:
Until it starts goin' down... its still goin' up. Even if its moving slower than we like it to.
long live Dr. Joe.
walt

ps that means I'm looking for bullish price action nearer to the 20 and not hid underneath SR to get back in.
  • #6,194
  • Oct 8, 2009 4:31pm Oct 8, 2009 4:31pm
Quoting strat
Technical qualifications matter naught in trading...

Good post Strat! I like!

It always thrills me how you can come up with long long posts. Constructive and meaningful postssss. The time and effort you put in must have been immense, but you ask for nothing in return.

I don't know if Strat have any PHD. But you definitely deserves a PHD for teaching and writing

Appreciate the good work Strat. Keep it up!

Thanks
Sean
Discipline is PRIMARY, Method is Secondary.....
  • #6,195
  • Edited 9:12pm Oct 8, 2009 7:55pm | Edited 9:12pm
This guy, samer960 seemed to be offended by my comment about him here, judging by his PM he sent to me today.

I advised him not to be so sensitive, and to post any useful or helpful tips he has to help us all learn here instead of privately.

I'll be standing by -- waiting for his words of wisdom.

samer960, here is your chance. Shoot.

Dave
  • #6,196
  • Oct 8, 2009 8:44pm Oct 8, 2009 8:44pm
Quoting Dabestone
Good post Strat! I like!

It always thrills me how you can come up with long long posts. Constructive and meaningful postssss. The time and effort you put in must have been immense, but you ask for nothing in return.

I don't know if Strat have any PHD. But you definitely deserves a PHD for teaching and writing

Appreciate the good work Strat. Keep it up!

Thanks
Sean

I agree, i am always impressed of the quality and obvious time that is put into each post.


The thread is becoming a masterpiece Strat, don't change a thing!
  • #6,197
  • Oct 8, 2009 8:50pm Oct 8, 2009 8:50pm
Looks like a solid breakout to the upside on AUDJPY. I'm waiting for a possible pullback to the top of the trading range channel and PASR to go long. If there is a good entry, target will be around 81.50 area.

Attached Image (click to enlarge)
Click to Enlarge Name: audjpy breakout 10-8-09.gif Size: 32 KB

  • #6,198
  • Oct 8, 2009 9:01pm Oct 8, 2009 9:01pm
We have a break out of the down TL on CJ, Next stop should take us to 86.
Attached Image (click to enlarge)
Click to Enlarge Name: cadjpyD1100809.png Size: 54 KB
  • #6,199
  • Oct 8, 2009 9:31pm Oct 8, 2009 9:31pm
Quoting PistolDave
Looks like a solid breakout to the upside on AUDJPY. I'm waiting for a possible pullback to the top of the trading range channel and PASR to go long. If there is a good entry, target will be around 81.50 area.

Attachment

Hi Dave, by top of the tradng range channel, I assume you mean 80.46ish? I've been thinking of this setup as well, waiting to see if it can close above this area and then wait for pasr to go long 1st TP 81.50 .

But am thinking, if we are to wait for PASR, we might have a TP of lesser than 100 pips. Will this be consider as BUYING INTO RESISTANCE?

OR

Is 81.50 even considered as a resistance?


Sean
Discipline is PRIMARY, Method is Secondary.....
  • #6,200
  • Oct 8, 2009 9:47pm Oct 8, 2009 9:47pm
Quoting Dabestone
Hi Dave, by top of the tradng range channel, I assume you mean 80.46ish? I've been thinking of this setup as well, waiting to see if it can close above this area and then wait for pasr to go long 1st TP 81.50 .

But am thinking, if we are to wait for PASR, we might have a TP of lesser than 100 pips. Will this be consider as BUYING INTO RESISTANCE?

OR

Is 81.50 even considered as a resistance?


Sean
I don't see 81.50 as anything too important, other than it is the bar lows from the move down last September.

84 is the next Major level on my charts.
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