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Strat's Long Term Stress Free Trading

  • #6,961
  • Oct 28, 2009 10:02am Oct 28, 2009 10:02am
Quoting Naws
Good analysis mstandifer

Strat, whats your opinion on taking trades like this without typical PA like beob or SS when everything else lines up?
In the beginning stages you must always use PA for set up.
15 YEARS OF PASR ON FOREX FACTORY!
  • #6,962
  • Oct 28, 2009 10:13am Oct 28, 2009 10:13am
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
Good thinking, Naws
15 YEARS OF PASR ON FOREX FACTORY!
  • #6,963
  • Oct 28, 2009 10:17am Oct 28, 2009 10:17am
Quoting soso
Hey Alexandra,

Maybe that level was an OBVIOUS weekly resistance level, does that mean that it would be a fake?

I perfectly understand your reasoning that this level SEEMS to be eyed by everyone and when that happens usually Ms. Market does the opposite, I wonder how true that is. And I also wonder how many traders OUTSIDE this thread saw that level. Because most others look at candle extremes, not closes and the resistance would have been at 91.7.

As for me, if a level stands out then it means it properly did its job in the past why not trust...
Definitely a short trade from 92.10 resistance but not sure it will be a bottom re-test. It may well just be a dip in a new uptrend. I would urge caution on trading this.
15 YEARS OF PASR ON FOREX FACTORY!
  • #6,964
  • Oct 28, 2009 10:19am Oct 28, 2009 10:19am
Quoting hcristea
I suspect Alexandra for playing the enemy role here, to mess with our minds She's playing mind games!
But I'm an emotionless trading machine and I never react to fear nor to greed. I only respond to pure market signals. That being said, I have only one more thing to say: "he110 Strat, give sign4l, pls. 10x m8!"
And very clever mind games at that!
15 YEARS OF PASR ON FOREX FACTORY!
  • #6,965
  • Oct 28, 2009 10:22am Oct 28, 2009 10:22am
Quoting mstandifer
I wasn't sure if a textbook trade from resistance to first daily support meant minor or major....
Too much ifs ands and buts - all you need to do is watch what PRICE does at 1.0970
15 YEARS OF PASR ON FOREX FACTORY!
  • #6,966
  • Oct 28, 2009 10:35am Oct 28, 2009 10:35am
Quoting strat
Definitely a short trade from 92.10 resistance but not sure it will be a bottom re-test. It may well just be a dip in a new uptrend. I would urge caution on trading this.
I'm thinking why would you consider that a new uptrend might emerge...

Looking at the Monthly charts I've been pondering the meaning of the high momentum bullish swing that started at the beginning of the year. While starting from April the price returned on its long term bearish trend it seems that the bearish momentum is signifcatly lower then the previous bearish swings AND than the bullish swing before. Could it be that the bears power is greatly diminished and a new (longer term) bullish trend might emerge?
Attached Image (click to enlarge)
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Trading = a mirror to your human flaws. Fix them or be fixed.
  • #6,967
  • Oct 28, 2009 10:57am Oct 28, 2009 10:57am
Quoting Naws
how was that a good entry point? Its just a normal looking green bar no indication of selling. Isnt it a bit risky entering a trade without seeing any PA firs?
I sometimes buy and sell levels as Alexandra described. Using the SR without the PA is not the Strat stress free way, but it does increase your risk reward because you can use much smaller stops. The market charges you a premium in stop size for confirmation price action.
I wouldn't do it with a shiny new account, because I think its important you have a high win rate and build up confidence. But I know your account is going to grow and then you might consider it.

I did it Sunday night with EURJPY. I got stopped out with my first attempt and succeeded with my second attempt. I did it again yesterday with AUDCAD.
It is not a method that will suit everyone psychologically because I really only have a 50% win rate, but the rewards mean I am profitable.
  • #6,968
  • Oct 28, 2009 11:04am Oct 28, 2009 11:04am
Hi Strat,

I think if this is not my 1st. is the 2nd. post, great system, yesterday I open a short to test it, analyzing all the pairs, I choose the EUR/JPY as it is on downtrend on daily, and won 60pips, not much, but next month I will run a longer one, it was a simple test with .02 lot. I will read here often thanks for this thread strat.

Regards,

Edgar
  • #6,969
  • Oct 28, 2009 11:16am Oct 28, 2009 11:16am
Quoting soso
I'm thinking why would you consider that a new uptrend might emerge...

Looking at the Monthly charts I've been pondering the meaning of the high momentum bullish swing that started at the beginning of the year. While starting from April the price returned on its long term bearish trend it seems that the bearish momentum is signifcatly lower then the previous bearish swings AND than the bullish swing before. Could it be that the bears power is greatly diminished and a new (longer term) bullish trend might emerge?
I don't know - gut feel from looking at the charts. Also look on your BIG BOSS what happened the last time you had tweezer bottoms.
15 YEARS OF PASR ON FOREX FACTORY!
  • #6,970
  • Oct 28, 2009 11:32am Oct 28, 2009 11:32am
Quoting Dabestone
Hi Naws, Like the setup you posted for USD/JPY. I was monitoring UJ for setup too but too bad my data did not close with any decent PASR, just a normal candle.

Between, heard that you had just started your live trading. Found any difference with trading demo? Psychologically and trading wise? All the best to you mate... you are doing great.

Sean
Thanks Dabe

about live trading, I haven't been trading long enough to really comment on it but one thing I did notice so far is that I have been a little more eager to get in to trades, looking for setups so that I can start making cash lol, but I'm keeping it under control so far.
  • #6,971
  • Oct 28, 2009 12:12pm Oct 28, 2009 12:12pm
Quoting elitejets
I sometimes buy and sell levels as Alexandra described....
Yea I understand what you and Alexandra see when you trade right from s/r

This is a little too advanced for me right now though so I'll stick to pa for now
  • #6,972
  • Oct 28, 2009 12:15pm Oct 28, 2009 12:15pm
Quoting Naws
Yea I understand what you and Alexandra see when you trade right from s/r

This is a little too advanced for me right now though so I'll stick to pa for now
Very sensible, Naws
15 YEARS OF PASR ON FOREX FACTORY!
  • #6,973
  • Oct 28, 2009 12:20pm Oct 28, 2009 12:20pm
Hi all, just sharing my lines on AUSUSD for what they're worth. As is always my story, whether they hold or fail tells a story to me.

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  • #6,974
  • Oct 28, 2009 12:25pm Oct 28, 2009 12:25pm
Quoting AstonDan
Hi all, just sharing my lines on AUSUSD for what they're worth. As is always my story, whether they hold or fail tells a story to me.

Attachment
Great post Dan.. am looking at this 1 too
Discipline is PRIMARY, Method is Secondary.....
  • #6,975
  • Oct 28, 2009 12:57pm Oct 28, 2009 12:57pm
Quoting AstonDan
Hi all, just sharing my lines on AUSUSD for what they're worth. As is always my story, whether they hold or fail tells a story to me.
Very nice DSRI Demand & Supply, Dan!
15 YEARS OF PASR ON FOREX FACTORY!
  • #6,976
  • Oct 28, 2009 1:44pm Oct 28, 2009 1:44pm
Quoting strat
Very nice DSRI Demand & Supply, Dan!
Thanks

How do you feel about this one (blue) on Kiwi Dollar?

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  • #6,977
  • Oct 28, 2009 1:51pm Oct 28, 2009 1:51pm
Quoting AstonDan
Thanks

How do you feel about this one (blue) on Kiwi Dollar?
The congestion that it goes through is more important than the line itself.
15 YEARS OF PASR ON FOREX FACTORY!
  • #6,978
  • Oct 28, 2009 1:53pm Oct 28, 2009 1:53pm
Quoting strat
The congestion that it goes through is more important than the line itself.
The establishment of a new floor?
  • #6,979
  • Oct 28, 2009 1:58pm Oct 28, 2009 1:58pm
Quoting AstonDan
The establishment of a new floor?
May well be - only PRICE and TIME know
15 YEARS OF PASR ON FOREX FACTORY!
  • #6,980
  • Oct 28, 2009 2:06pm Oct 28, 2009 2:06pm
Aston Dan &/or Strat

I thought supply lines must always slope down??

Also on your blue line on Kiwi dollar, sorry don't understand that either.

Would be grateful if either of you could explain why they are placed on the charts as they are??

Thanks
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