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Strat's Long Term Stress Free Trading

  • #6,741
  • Oct 23, 2009 2:46am Oct 23, 2009 2:46am
Quoting Blackeagle
I am still holding the long and I don't trail or partial exit. Depending on PA and where that PA occurs, I exit the position. As Strat indicated, this is up to each trader's style.
I am a "2 halves" guy, meaning that the first half am closing it, or trailing closer, at the first sign of trouble. The 2nd half I give more air to breath hoping to catch the big trend. This strategy I employed using my original trading method (which I still use) and found it brings a "good" balance between letting profits run and cut losses short.

But am thinking to move over to one full position close, the new thing that Strat's method brings is the PA reading, meaining the market gives obvious signs of reversal and "logical" places to trail the SL.
Trading = a mirror to your human flaws. Fix them or be fixed.
  • #6,742
  • Oct 23, 2009 2:57am Oct 23, 2009 2:57am
Quoting riff
Hi Dabestone,

A hammer is in a DT move and the location of hammer should be at Appropriate Support level and so called PASR. This is where we should keep our eyes on + other confirmation as per strat teaching.

A Shooting Star is in a UT (Uptrend) move and also should be at Appropriate Resistance level .....Trade PASR
thanks.
Correct, and attached is visual.
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  • #6,743
  • Oct 23, 2009 3:07am Oct 23, 2009 3:07am
This is what I have on NZDUSD. 0.7500 is major and I have nothing at 0.7600, just a minor one at 0.7750 and then top SR.

Quoting Dabestone
Here's what I see on NZDUSD

Weekly: Bullish Trend. Buyers in control. Price has breach pass my SR line that I have at 0.7466

Daily: Hammer forming with 20 minutes before daily candle close. Looking to go long 10 pips above candle's high with SL below the candle's low. 1st Target around 0.7700issh

Concern: Looking at weekly chart, notice minor SR at 0.7600isshh. Am wondering should I at least wait for the price to close above 0.7600 to consider for a trade.

Thanks
Sean

Edit* I will just skip this trade since it did not close above...
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  • #6,744
  • Oct 23, 2009 3:09am Oct 23, 2009 3:09am
Quoting Alexandra
So, USDJPY has touched the first big fat line (twice....hint...but look at the charts)......it's Friday....thoughts from those in this trade?

Come on, how are you trailing it? Or did you TP already at Nicola's line? What next?
I took half off at resistance and my stop is moved up to 90.80
I will review at the end of today but I am watching 91.95, 92.45 and 94.30 as next exits.
Will probably move stop to just under 91.50 end of day.
  • #6,745
  • Oct 23, 2009 3:14am Oct 23, 2009 3:14am
Quoting strat
We have been waiting to see how EURUSD reacted to psycho 1.5000 and now we have her answer
We have two buyer candles closed above the level (1.5000). Could that be the answer, Strat?

Thanks
  • #6,746
  • Oct 23, 2009 3:20am Oct 23, 2009 3:20am
Quoting strat
The method works on any freely traded market and is used in Stocks, Futures, Commodities, Forex, Indices, etc.
110% agree. Anyone needs proof?
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  • #6,747
  • Edited 3:49am Oct 23, 2009 3:33am | Edited 3:49am
Hi Femfam,

"See beyond the caddle".Demand rules from last swing 2/10/2009 on daily chart. The tug of war happened around 1.5000 psycho level but daily bars still printed biased over demand side. Besides our S&R lines shows ...? still far way?
The BOSS chart depicted where the next line is. IMHO. Blackeagle highlighted this trade before...hanging on Dr. Joe's.

See post #6394 and #6420

Thanks..
  • #6,748
  • Oct 23, 2009 3:48am Oct 23, 2009 3:48am
Quoting riff
Hi Femfam,

..... Blackeagle highlighted this trade before...hanging on Dr. Joe's.

Thanks..
Correct, after 1.4880 was cleared, we have next SR line at 1.5400.
  • #6,749
  • Oct 23, 2009 4:01am Oct 23, 2009 4:01am
Quoting Blackeagle
Correct, after 1.4880 was cleared, we have next SR line at 1.5400.
Hi Blackeagle,

May I ask how did you find 1.4880? My weekly closes show me 1.4800 more or less..

P.S. Everyone, it looks like there's a lot of action around GBP pairs, really waiting for the day close, hopefully the market will allow me to place some orders
Trading = a mirror to your human flaws. Fix them or be fixed.
  • #6,750
  • Oct 23, 2009 4:10am Oct 23, 2009 4:10am
Quoting soso
Hi Blackeagle,

May I ask how did you find 1.4880? My weekly closes show me 1.4800 more or less..
I also have 1.4800 but minor at the moment (may upgrade it later depending on future PA), 1.4880 is more major compared to 1.4800.
Attached Image (click to enlarge)
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  • #6,751
  • Oct 23, 2009 4:17am Oct 23, 2009 4:17am
Quoting Alexandra
So, USDJPY has touched the first big fat line (twice....hint...but look at the charts)......it's Friday....thoughts from those in this trade?

Come on, how are you trailing it? Or did you TP already at Nicola's line? What next?
Alexandra,

I got in at 9093 with a stop at 9003 and target of 9189 which seemed to be at R level on my chart. I set a limit trade for the TP so I came out overnight (I'm in UK). As I am trading the smallest £/pip permitted on my SB account I didn't make a lot of dosh but a small profit and (more importantly at the moment for me) a successful trade.

Looking back I should have taken the trade earlier after the second bounce off the 8800 major support but left it for a possible retrace forgetting that the second bounce WAS in fact the required retrace! lol

I will have another look at it today to see if getting back in is feasible for me at the moment.

I am only taking trades now which seem very high probability as I have found that a small profit is easily wiped out by just one bad loss! It is all in the cause of practising my PA recognition skills together with careful MM.

Best etc.
  • #6,752
  • Oct 23, 2009 4:29am Oct 23, 2009 4:29am
I think GBP pairs trying to come back to their boss and big boss trend
  • #6,753
  • Oct 23, 2009 4:39am Oct 23, 2009 4:39am
Quoting BaliuxXx
I think GBP pairs trying to come back to their boss and big boss trend
And ain't that beautiful?
Trading = a mirror to your human flaws. Fix them or be fixed.
  • #6,754
  • Oct 23, 2009 5:32am Oct 23, 2009 5:32am
Quoting Alexandra
So, USDJPY has touched the first big fat line (twice....hint...but look at the charts)......it's Friday....thoughts from those in this trade?

Come on, how are you trailing it? Or did you TP already at Nicola's line? What next?
Hi Alexandrahttp://cdn.forexfactory.com/images/icons/icon7.gif

This trade is against the trend, I am watching it with interest and waiting for PA to go down again.

Jideck
  • #6,755
  • Oct 23, 2009 5:37am Oct 23, 2009 5:37am
Quoting Alexandra
So, USDJPY has touched the first big fat line (twice....hint...but look at the charts)......it's Friday....thoughts from those in this trade?

Come on, how are you trailing it? Or did you TP already at Nicola's line? What next?
I've been buying it for a little over two weeks now. I've scaled out of most of my position at various points as i expected a stronger move away (north), however i have a small piece left on the board which i'll leave in place.

A drop below 87 would give me cause to reconsider however.
  • #6,756
  • Oct 23, 2009 5:48am Oct 23, 2009 5:48am
Strat,

What a wonderful way to start the day!

Thank you so very much. And an equally wonderful day to you and all on this thread.
I believed that it would, but as an infant in a strange new world, I needed to confirm.

Now, with your permission - back to studying my new reality......

Regards,

Mike

Quoting strat
The method works on any freely traded market and is used in Stocks, Futures, Commodities, Forex, Indices, etc.
  • #6,757
  • Oct 23, 2009 7:00am Oct 23, 2009 7:00am
Quoting Blackeagle
I am still holding the long and I don't trail or partial exit. Depending on PA and where that PA occurs, I exit the position. As Strat indicated, this is up to each trader's style.

For this current long UJ position, I will watch PA around 92.30, if it closes above this level, my next target is at 94.30

Indeed,thanks to all once again - a variety of styles on display. You and I are in sync, it seems.
  • #6,758
  • Oct 23, 2009 7:01am Oct 23, 2009 7:01am
Quoting Jideck
Hi Alexandrahttp://cdn.forexfactory.com/images/icons/icon7.gif

This trade is against the trend, I am watching it with interest and waiting for PA to go down again.

Jideck
Indeed....hmmm.....are we sure about this statement? There's nothing wrong with it, but are we suuuuure???
  • #6,759
  • Oct 23, 2009 8:30am Oct 23, 2009 8:30am
Quoting soso
And ain't that beautiful?
  • #6,760
  • Oct 23, 2009 9:40am Oct 23, 2009 9:40am
Hello Strat,

Reading your posts I keep seeing references to cycles and how you stay out of a potential short trade because cycles are UP. I didnt find any description of these cycles. Are they time cycles? Related to Gann in any way?

I ask because I spent 2 years studying Gann and any other possible "hidden" time cycles out there and while there is value in _some_ of Gann's writing I concluded that they didnt really help me become a better trader.

If you dont want to give away any leads it's really OK, I though I should ask anyway.

Thank you!
-soso
Trading = a mirror to your human flaws. Fix them or be fixed.
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