Strat's Long Term Stress Free Trading | Page 332 | 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

  • #6,621
  • Oct 20, 2009 7:54am Oct 20, 2009 7:54am
Quoting cliftonarms
Thanks Grimweasel, am setting up a demo with FxPro now, they confirmed "Daily bars close at midnight server time which from 25 October will be GMT plus 2 hours (currently GMT plus 3)".

Also checked their reviews out, they have quite a bad reputation, are you happy with them??
I only use them for charting - not as my broker. I chart with FxPro and ODL and then use ETX or IgIndex for my SB company. If you read up more about MT4 you'll find that there are some sinister broker applications that the programme allows them to slip orders and delay prices during busy periods etc. So, I'd never trade with an MT4 broker.
Trade less and become more profitable!
  • #6,622
  • Oct 20, 2009 7:59am Oct 20, 2009 7:59am
Quoting Grimweasel
I only use them for charting - not as my broker. I chart with FxPro and ODL and then use ETX or IgIndex for my SB company. If you read up more about MT4 you'll find that there are some sinister broker applications that the programme allows them to slip orders and delay prices during busy periods etc. So, I'd never trade with an MT4 broker.
Grimweasel - Good plan BatMan, I am also with IGindex and they have treated me well, so I'll follow your good example and chart elsewhere.
  • #6,623
  • Oct 20, 2009 8:36am Oct 20, 2009 8:36am
Quoting mstandifer
In still trying to learn how to interpret the bigger picture, I'll refer to the USD Index.

Looking at the majors for the most part shows them nearing or clearing congestion to the detriment of USD (with the exception of USDJPY which looks to be making an attempt at higher ground)....
As I have posted many times, I don't waste time on funny mentals or correlation with anything outside forex. I just trade WHAT my charts tell me and WHEN they tell me.

All this other thinking STRESSES ME and CONFUSES ME and eventually leads me into, usually, a false bias.

I am just a SIMPLE technical trader
15 YEARS OF PASR ON FOREX FACTORY!
  • #6,624
  • Oct 20, 2009 8:41am Oct 20, 2009 8:41am
Quoting Lou
I am assuming you mean BUOB

(My First post on Strat's thread.)
My First post on Strat's thread

And we hope not your last!

For those that don't know, Lou has been with FF since DAY 1!

Glad to have you posting with us.
15 YEARS OF PASR ON FOREX FACTORY!
  • #6,625
  • Oct 20, 2009 11:23am Oct 20, 2009 11:23am
I do like the look of USDJPY should things remain as they are at the moment. OK - Strat......who can tell me why?
  • #6,626
  • Edited 11:36am Oct 20, 2009 11:35am | Edited 11:36am
Quoting Alexandra
I do like the look of USDJPY should things remain as they are at the moment. OK - Strat......who can tell me why?
Trendline break, support off a previous support level and a weekly higher low?
Attached Image (click to enlarge)
Click to Enlarge Name: uj daily.gif Size: 19 KB
  • #6,627
  • Oct 20, 2009 1:53pm Oct 20, 2009 1:53pm
Quoting Alexandra
I do like the look of USDJPY should things remain as they are at the moment. OK - Strat......who can tell me why?
As with GBPJPY, last 3 weeks closed out bullish, last week showing real buying strength.

As for Daily, have a look, last bearish DSRI was broken and today price stopped at confluence of bullish DSRI and Daily S/R. Still I will stand aside, the first resistance which is at 91.8 looks pretty strong to me and is too close to the price. So I'll pass...
Attached Image (click to enlarge)
Click to Enlarge Name: jpy_daily.png Size: 22 KB
Trading = a mirror to your human flaws. Fix them or be fixed.
  • #6,628
  • Oct 20, 2009 3:14pm Oct 20, 2009 3:14pm
Quoting Alexandra
I do like the look of USDJPY should things remain as they are at the moment. OK - Strat......who can tell me why?
Okay, I'll have a go!. Knowing that Alexandra likes the longer TFs I would say that the M and W are both showing a double bottom back to Jan 2009 so we would expect a rise therefore.

On the Daily this would be reflected in a chance of a rise to S level 91.9 and after that to 94.5 and beyond. But for today there seems to be a 'pause' with the last three day's candles around the 90.5 level just above the 20 and below the 50. This hint of indecision would make me wait for development/confirmation/refutation before entering.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: usdjpym20.10.2009.gif Size: 21 KB
Click to Enlarge Name: usdjpyw20.10.2009.gif Size: 21 KB
Click to Enlarge Name: usdjpyd20.10.2009.gif Size: 23 KB
  • #6,629
  • Oct 20, 2009 4:49pm Oct 20, 2009 4:49pm
Cadyen showing a nice BEEB/BEOB on the daily - this could be a good trade back down to the UP TL as it's a 2nd LH after the TL break. One to watch as posted earlier this week.
Grim
Trade less and become more profitable!
  • #6,630
  • Edited 5:19pm Oct 20, 2009 5:05pm | Edited 5:19pm
Hmmmm......I like the discussion so far......very nice.....keep it going! Apparently I have tipped my hand to some of you - very nice!

So, if you buy it, what are you afraid of?? Would anyone sell it?
  • #6,631
  • Oct 20, 2009 5:18pm Oct 20, 2009 5:18pm
Quoting Alexandra
Hmmmm......I like the discussion so far......very nice.....keep it going! Apparently I have tipped my hand to some of you - very nice!

So, if you buy it, what are you afraid of?? Would anyone sell it?
I'd be afraid of the RR Ratio cause 92.00 is too close Alexandra?
Trade less and become more profitable!
  • #6,632
  • Oct 20, 2009 5:59pm Oct 20, 2009 5:59pm
Quoting Alexandra
Hmmmm......I like the discussion so far......very nice.....keep it going! Apparently I have tipped my hand to some of you - very nice!

So, if you buy it, what are you afraid of?? Would anyone sell it?
There are definitely some pros to buying but it just doesn't feel that safe to me right now.

The current bar is stuck right in the middle of the 20 and 50 which is not a good place to be, and the pair is still in a long-term downtrend so I'll wait it out till theres better PA
  • #6,633
  • Edited 7:49pm Oct 20, 2009 7:36pm | Edited 7:49pm
OK, so we have all buyers then and no sellers on here, so the market must move up. (!)

We also have a couple of nervous would-be buyers who will buy once the market declares itself, artificially pushing it even further. (!!)

Looking at the chart, things have moved nicely , and one has a tidy little sum, though it is still early in the session.

The question now then, is how does one best protect the position? Is that protective level enough to convince the would-be buyers that it is worth the trade? In other words, was their concern about RR really appropriate? At what level does one hit the ejection switch? At what level will the sellers emerge?
  • #6,634
  • Oct 20, 2009 7:44pm Oct 20, 2009 7:44pm
Quoting Alexandra
I do like the look of USDJPY should things remain as they are at the moment. OK - Strat......who can tell me why?
USDJPY worker is making a classic stepping stair up and with the present run up of yen crosses. If they all break loose, I am no surprise USDJPY will hit 92.50.
  • #6,635
  • Oct 20, 2009 7:55pm Oct 20, 2009 7:55pm
Quoting Lou
Took this trade on UsdChf. Sell @ 1.0092

Big Boss is down
Boss is Down
BEOB highlighted on worker
First test is 1.0000 near ppz psych level
Target is previous low around .9650
SL is 1.0201 above ppz
At the time of writing this.. - 18 pips
Lou, what made you choose this pair instead of its alter ego (EURUSD) which is less choppy, less erratic and not as sensitive to Swiss Cheese (SNB)?
15 YEARS OF PASR ON FOREX FACTORY!
  • #6,636
  • Oct 20, 2009 7:59pm Oct 20, 2009 7:59pm
Quoting hcristea
Hi Strat,
i've made a mistake....
A DSRI Supply line can NEVER be sloping up just as a DSRI Demand line can never be sloping down. However, they both can be horizontal.

Until you understand DSRI fully, just use TLs
15 YEARS OF PASR ON FOREX FACTORY!
  • #6,637
  • Oct 20, 2009 8:02pm Oct 20, 2009 8:02pm
Quoting soso
Hey Lou! Great to see you here and welcome to the thread!

Nice chart, I saw the BEOB here and BUOB on Euro I just can't pull the trigger on bars that are part of the main move without retracement. I have a "phobia" trading breakouts or moves that already started, I'm just a pullback/rally type of guy .
I'm just a pullback/rally type of guy

And that's the hallmark of a nice, steady, conservative trader - Doing good, soso, keep it up.
15 YEARS OF PASR ON FOREX FACTORY!
  • #6,638
  • Oct 20, 2009 8:06pm Oct 20, 2009 8:06pm
Quoting jag1966
Hehe exec cars club, 3rd generation Jaguar owner, they get in your blood I guess.

Strat I cannot stop smiling since I found your thread and have really started to understand what you are trying to teach us. I am still ploughing through the thread making notes and working on charts.

Eureka moment after eureka moment keeps happening so thankyou for that.

Three or so years of pratting about with indicators and scalping the market for a very stressful and time consuming few pips here and there seems like a complete waste of time now but I guess...
That seems like a lot of work, E - Type but if that's what floats your boat, go for it!
15 YEARS OF PASR ON FOREX FACTORY!
  • #6,639
  • Oct 20, 2009 8:08pm Oct 20, 2009 8:08pm
Quoting Grimweasel
[font=Arial]Blackeagle - I would not consider a short on that pair until such time we have had a TL break and test of the trend's extreme....
I thought "Blackie" was a dog!

Blackeagle is an err..................eagle?
15 YEARS OF PASR ON FOREX FACTORY!
  • #6,640
  • Oct 20, 2009 8:16pm Oct 20, 2009 8:16pm
Quoting Alexandra
OK, so we have all buyers then and no sellers on here, so the market must move up. (!)

We also have a couple of nervous would-be buyers who will buy once the market declares itself, artificially pushing it even further. (!!)

Looking at the chart, things have moved nicely , and one has a tidy little sum, though it is still early in the session.

The question now then, is how does one best protect the position? Is that protective level enough to convince the would-be buyers that it is worth the trade? In other words, was their concern about...
Markets charge a premium for information.
The more confirmation you wait for the higher the price you pay whether it is in stop size or the risk you will be shaken out because you are further into the swing.
Entering earlier is more speculative and you risk being wrong more often but have potentially better rewards. Good money management (perhaps banking some profit to pay for your stop) can help on earlier entries.
For me I want to see this take out last weeks swing high (91.31) to confirm it will keep going and would be wrong (or the entry is wrong) if we breach 90.0 or yesterdays low.

PS - I am often wrong
27 traders viewing now