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  • #6,921
  • Oct 27, 2009 11:09am Oct 27, 2009 11:09am
Quoting Blackeagle
Agree. Another view if I may...
So, it put up a 2 month fight for 0.9820ish before - I wonder what is in store for us this time?
15 YEARS OF PASR ON FOREX FACTORY!
  • #6,922
  • Oct 27, 2009 11:45am Oct 27, 2009 11:45am
Quoting mstandifer
Thanks for pointing that out. If you or someone could point me back to the DSRI section, I need to go back and review. It seems I'm having difficulty determining which bars to use.

Would that make line 1 old DSRI and 2 the new DSRI?
At what point would a new DSRI line be drawn?
Are they simply drawn from the most recent lowest swing low to the most recent completed swing cycle swing low?
If you or someone could point me back to the DSRI section, I need to go back and review. It seems I'm having difficulty determining which bars to use.

Would that make line 1 old DSRI and 2 the new DSRI?
At what point would a new DSRI line be drawn?
Are they simply drawn from the most recent lowest swing low to the most recent completed swing cycle swing low?

As I have said before, let’s focus on basic PASR before getting into more advanced techniques and strategies. Trying to learn too many things at once will dilute the PASR effort and result in mediocre PASR performance.

Basic PASR presents you with more opportunities than your accounts can handle so why confuse the issue with opportunities from other strategies?

Forget anything else until you are a MASTER PASR trader and then at the point, we will move you on to these other strategies.

DSRI Demand and Supply is low on my list for teaching on here – the next logical step after basic PASR is SEEING BEYOND THE CANDLES.

Blackeagle and I will continue to show and discuss DSRI Demand and Supply on our charts but only for illustration, not for discussion.
15 YEARS OF PASR ON FOREX FACTORY!
  • #6,923
  • Oct 27, 2009 12:13pm Oct 27, 2009 12:13pm
Quoting strat
As I have said before, let’s focus on basic PASR before getting into more advanced techniques and strategies. Trying to learn too many things at once will dilute the PASR effort and result in mediocre PASR performance.
Understood. Continuing on with PASR only. Steady as she goes.
  • #6,924
  • Oct 27, 2009 2:44pm Oct 27, 2009 2:44pm
Here is a PM just received from a former professional trader.

He has kindly given me permission to post it on my thread. The point of posting it is not to inflate my ego (I really don’t have one) but to yet again reinforce the importance of controlling your trading psyche, specifically the FEAR and GREED emotions.

He only has 3 rules – study them very carefully – nowhere does he mention anything about technical skills.

When you realise and ACCEPT that successful and profitable trading is 95% CONTROLLING your trading psyche, you will be much further along The Path of Learning.

As many of you have found out and are finding out, the importance of the glamour side of trading, technical skills, is, and always will be, secondary to our head and mind games.

Oct 27, 2009 12:01pm (11 min ago)
Member

Member Since Oct 2007
40 Posts
Kudos for you
Strat,

As a former professional trader I applaud you for offering this ray of sunshine amongst all of the snake oil salesmen out there. This is how I have traded for many years with the exception of I have mostly traded with the line chart . You are pointing the lost sheep to a safe pasture where the grass really is greener.

I think you will appreciate my own short rules list.

1) Trading is about managing your own destructive behaviors
2) Trading is about Money Management
3) Trading is about taking money from those who can't do the first two

Keep up the good work and I will add what little nuggets that I can to your thread.

Best Regards,

Brian
Swingtrade65
__________________
SwingTrade65

 

  1. Trading is about managing yourself and your own destructive behaviors.....
  2. Trading is about money management.....
  3. Trading is about taking money from those who cannot do the first two....

15 YEARS OF PASR ON FOREX FACTORY!
  • #6,925
  • Oct 27, 2009 4:23pm Oct 27, 2009 4:23pm
Quoting Blackeagle
Your DSRI on boss chart is not correct. Connecting 08/2008 to 08/2009 is not a right way to do it. But on Daily chart, you can connect Aug 10th, 2009 open to Sep 22, 2009 open.

And this is what I have on my chart.
This was a great setup, in hindsight for me now that you mentioned it. I dismissed EURJPY in my background profile because of the rangy Daily timeframe. But looking at your chart I see BEOB at Weekly resistance while BOSS is down. Neat!
Trading = a mirror to your human flaws. Fix them or be fixed.
  • #6,926
  • Oct 27, 2009 4:28pm Oct 27, 2009 4:28pm
Strat, thought i'd post this, pretty sure most on here will already be aware of this , but it might help somebody.
I've noticed sometimes when people post a chart and ask for your opinion, you say, sorry, my charts don't have enough history. It registered, but i didn't really understand until today.
I normally use ODL for my charts, but today opened up a 2nd acct with Alpari.
I was looking at the beob on the E/Cad chart, and compared the 2 providers. Something was wrong, the longer ma's on Alpari were miles away from where the ma's on ODL were. For example, the 250ma on the daily: ODL= 1.5340 Alpari 1.5950 600 pips difference.
Surely Alpari was wrong??
Took me a while to figure it out, but the difference?
Odl only has 2 years of history, Alpari over 20 years.
How dumb do i feel?? http://cdn.forexfactory.com/images/icons/icon8.gif Now i know why this pair has bit me on a few occasions.
Regards
Golfer
  • #6,927
  • Oct 27, 2009 4:47pm Oct 27, 2009 4:47pm
Quoting golfer27
Strat, thought i'd post this, pretty sure most on here will already be aware of this , but it might help somebody.
I've noticed sometimes when people post a chart and ask for your opinion, you say, sorry, my charts don't have enough history. It registered, but i didn't really understand until today.
I normally use ODL for my charts, but today opened up a 2nd acct with Alpari.
I was looking at the beob on the E/Cad chart, and compared the 2 providers. Something was wrong, the longer ma's on Alpari were miles away from where the ma's on ODL were....
Nice try,mate but that is not the problem. There is something wrong with the data on one of your data feeds.

A 250 period moving average ONLY takes the data of the MOST CURRENT 250 periods. On the 251st period, the moving average calculation drops off the 1st period and adds the latest period (251) and does the calculation again.

So, it doesn’t matter whether you have 20 years of data or 251 days of data, the value of the 250 SMA will be the same.

I need sufficient data to determine accurate SR levels, not for anything else.
15 YEARS OF PASR ON FOREX FACTORY!
  • #6,928
  • Oct 27, 2009 4:54pm Oct 27, 2009 4:54pm
Quoting golfer27
Strat, thought i'd post this, pretty sure most on here will already be aware of this , but it might help somebody.
I've noticed sometimes when people post a chart and ask for your opinion, you say, sorry, my charts don't have enough history. It registered, but i didn't really understand until today.
I normally use ODL for my charts, but today opened up a 2nd acct with Alpari.
I was looking at the beob on the E/Cad chart, and compared the 2 providers. Something was wrong, the longer ma's on Alpari were miles away from where the ma's on ODL were....

Hey Golfer,

I remember that Odl has sunday candles while Alpari doesn't have. Maybe this can be the difference?
  • #6,929
  • Oct 27, 2009 5:00pm Oct 27, 2009 5:00pm
Thanks Strat, i 'll have to look into this further. I set up, deleted and reset the new charts with Alpari numerous times, but the end result was still the same. I'll delete that acct, and try some other brokers tomorrow, and see what they show. i trust the Odl chart, as it's always close to other posters charts,given the time zones.
My initial feeling was that i may have been trading with one eye closed if i only had X no of years history,compared to X+20, but obviously not the case.And no, it wasn't an excuse lol.

Still learninghttp://cdn.forexfactory.com/images/icons/icon14.gif
Golfer
  • #6,930
  • Oct 27, 2009 5:16pm Oct 27, 2009 5:16pm
Quoting golfer27
Strat, thought i'd post this, pretty sure most on here will already be aware of this , but it might help somebody.
I've noticed sometimes when people post a chart and ask for your opinion, you say, sorry, my charts don't have enough history. It registered, but i didn't really understand until today.
I normally use ODL for my charts, but today opened up a 2nd acct with Alpari.
I was looking at the beob on the E/Cad chart, and compared the 2 providers. Something was wrong, the longer ma's on Alpari were miles away from where the ma's on ODL were....
My 250 SMA on EURCAD Worker at 6:15PM NY time is 1.5885
15 YEARS OF PASR ON FOREX FACTORY!
  • #6,931
  • Oct 27, 2009 5:24pm Oct 27, 2009 5:24pm
No much direction on Big boss
Lower Highs on Boss
Beob on daily into a channel formation or wedge
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  • #6,932
  • Edited Oct 28, 2009 10:12am Oct 27, 2009 7:02pm | Edited Oct 28, 2009 10:12am
The immediate DSRI Demand at minor support is holding.........................as of today.......................................
Attached Image (click to enlarge)
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15 YEARS OF PASR ON FOREX FACTORY!
  • #6,933
  • Oct 27, 2009 8:23pm Oct 27, 2009 8:23pm
Quoting mstandifer
using PASR of course, if we are going to see some sort of LH swing high coming up, then it would occur at:

Near term the trendline around 1.0700 if it passes thru 1.0600
OR
Several days from now the 1.0600 psych/SR level if it decides to meander some
Since I had my light bulb moment with this pair and it's obliging thus far we'll just see where it goes.

Monthly USDCAD overall trend is down with price right at major SR 1.0650. Even though Big Boss 20 is above 50 they are both showing downward momentum. Last 6 bars show bearish in some fashion withLH LL and a BEOEB. While this month appears to be forming a doji as we go into the close that does not change the fact that momentum is still down.

Weekly USDCAD current trend is down. Most recent confirmed swing low passed thru th 61.8 fib and confluence with 1.0650 SR. This week is retesting that resistance. Boss and Big Boss both show downward momentum.

Daily USDCAD current trend is down. Price has risen from the most recent confirmed swing low to the 1.0650 SR and 61.8 fib confluence. Yesterday price reached the psych number of 1.0700 and closed below 1.0650 SR. The current minor trend is still up since a confirmed swing has has not yet occurred.

I am watching this for a basic sell PASR trade which is in the direction of both the overall major downward trend and a continuation of the current daily trend:

The Plan:
If the low of today's bar takes out the low of yesterday's bar and today's high does not breach yesterday's high, then this will be a confirmed swing high and it will have the confluence of the 61.8 fib and the 1.0650 acting as resistance. If that occurs, then the safe entry will be to sell below the low of today's bar with a take profit at first daily support at 1.0425

Since we don't know where today's bar will close here's the order flow:

My stop loss is going to be 10 pips above the swing high.

My lot size will be determined by the number of pips between my entry and my SL (2% at risk divided by number of pips from entry to SL). NOTE: I don't care what this number is because large stop losses don't distract me...what I care about is getting that number correct.

I'm not going to do multiple lots and take partial profit just because that isn't my style.
I will move stop to BE once trade is 100 pips in my favor providing I'm still that far away from TP.
Full TP at 1.0425
I will be watching PASR in case a new, unexpected swing low is created and will exit on PASR if that is the case taking whatever profit exists at that point.
Attached Image(s) (click to enlarge)
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  • #6,934
  • Oct 27, 2009 8:39pm Oct 27, 2009 8:39pm
Quoting mstandifer
Since I had my light bulb moment with this pair and it's obliging thus far we'll just see where it goes.

Monthly USDCAD overall trend is down with price right at major SR 1.0650....
Very good analysis with sound logic.

Why TP at 1.0425? - I would expect a "wobble" there but not swing termination.

Does 1.0370 mean anything on your data?

You are progressing very nicely - keep it up!
15 YEARS OF PASR ON FOREX FACTORY!
  • #6,935
  • Oct 27, 2009 8:54pm Oct 27, 2009 8:54pm
Quoting strat
Very good analysis with sound logic.

Why TP at 1.0425? - I would expect a "wobble" there but not swing termination.

Does 1.0370 mean anything on your data?

You are progressing very nicely - keep it up!
Good analysis mstandifer

Strat, whats your opinion on taking trades like this without typical PA like beob or SS when everything else lines up?
  • #6,936
  • Oct 27, 2009 8:56pm Oct 27, 2009 8:56pm
Quoting oblo
No much direction on Big boss
Lower Highs on Boss
Beob on daily into a channel formation or wedge
Some thoughts on EC

Forgot to put it on the chart but the daily is sitting right on the 365ema and the weekly double bottom is a bounce off of the 365ema as well.
Attached Image (click to enlarge)
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  • #6,937
  • Oct 27, 2009 9:10pm Oct 27, 2009 9:10pm
BOSS and BIGBOSS down

BEEB has formed at strong (sorry Alexandra) resistance with confluence of the BOSS 20.

This seems like a logical place to continue the downtrend after this retrace (assuming it is just a retrace)

Some things to watch out for are that we are trading into the 20 and 50 and of course that big double bottom on the weekly

what do you guys think?

Attached Image (click to enlarge)
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  • #6,938
  • Oct 27, 2009 9:11pm Oct 27, 2009 9:11pm
Quoting mstandifer
Since I had my light bulb moment with this pair and it's obliging thus far we'll just see where it goes.

Monthly USDCAD overall trend is down with price right at major SR 1.0650. Even though Big Boss 20 is above 50 they are both showing downward momentum. Last 6 bars show bearish in some fashion withLH LL and a BEOEB. While this month appears to be forming a doji as we go into the close that does not change the fact that momentum is still down.

Weekly USDCAD current trend is down. Most recent confirmed swing low passed thru th...
Hi Mstandifer,

Good analysis, I would rather short @ 1.0900 area, which recently price moves I think more seller will come out @ 1.0900. We have minor support @ 1.0500-50.
Attached Image (click to enlarge)
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  • #6,939
  • Oct 27, 2009 9:32pm Oct 27, 2009 9:32pm
Quoting Naws
BOSS and BIGBOSS down

BEEB has formed at strong (sorry Alexandra) resistance with confluence of the BOSS 20.

This seems like a logical place to continue the downtrend after this retrace (assuming it is just a retrace)

Some things to watch out for are that we are trading into the 20 and 50 and of course that big double bottom on the weekly

what do you guys think?

Attachment
Hi Naws

Good analysis Naws. 20&50 has crossed short term is up. Price stopped right @ 92.30. I think price will trade into the blue box(I saw this box before) and will attach 94.30. If price closes below 90.00, we will continue dow trend.
Attached Image (click to enlarge)
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  • #6,940
  • Oct 27, 2009 9:38pm Oct 27, 2009 9:38pm
Quoting patrick25
Hi Naws

Good analysis Naws. 20&50 has crossed short term is up. Price stopped right @ 92.30. I think price will trade into the blue box(I saw this box before) and will attach 94.30. If price closes below 90.00, we will continue dow trend.
The bottom of that blue box would be my first support target

we'll see what happens then, if it gets there
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