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  • #7,221
  • Nov 3, 2009 3:23am Nov 3, 2009 3:23am
Quoting golfer27
hey hcristea, i liked this too.
my charts got me in slightly later at 1051.50.
i've taken half off the table at 1061.00, the remainder to run.
We shall see!
Attachment

edit- my s/l at 1048 - recent highs
hi golfer, i'm happy to know that i'm not alone here trading gold

yesterday closed bullish. Today's candle already made a new HIGH, lets see how it behaves near the resistance. We might stay around the resistance at 1064 for couple of days.
  • #7,222
  • Nov 3, 2009 4:17am Nov 3, 2009 4:17am
Quoting soso
Briliant chart Blackeagle, I never cease to be amazed by your SIMPLE BUT CRYSTAL CLEAR charts!

You say "especially green arrows" because of the big swings that followed after the SR tests?
The strong up-move on the first green arrow does not allow SR test, even on H4. You could only take that trade if you are trading breakouts, but BOs are not the subject of this thread, so we'll leave that out for now. The second and third green arrows are perfect examples of "SR TESTS".
  • #7,223
  • Nov 3, 2009 5:00am Nov 3, 2009 5:00am
Quoting Blackeagle
Because... attached.

Although we don't have that much history around these levels, look at all the arrows around 1.4880, and especially the green arrows and see how price reacts when breakout took place (down or up) at 1.4880.

Hope this helps.
thankyou Blackeagle for your charts and efforts, its very clear .(sometimes in our charts few pips different).
as for me, i was long er/us but stopped at 47.15 as stated before(this is sr at my chart), but when i saw T/L break i took the trade to the downside ( after consulting the boss) and waiting for the next swing low.
also ucad long was off for a while when i saw hesitation, but in again and its doing well waiting for 109.
it looks like dollar move as said before, so I am taking it but I am very carful as this could be only pullback.
  • #7,224
  • Nov 3, 2009 5:32am Nov 3, 2009 5:32am
Quoting CrudeCraig
I was quite sure this was going to be your answer, as you say this is my technical side looking for reassurance.

I was really about to pull the trigger on the AUD/JPY sunday hammer too but i held myself back which i am proud of even though it proved to be a very profitable trade. I was not as confident as i usually am in entering trades and it being a sunday bar that i dont have experience trading. it just didn't feel right so i stayed out.

One thing i have noticed as well now that i have opened a live account.

I am much more cautious than...
congrat. about opening account.
good lesson you learned , and the more you will be cautious the less you will give back to market , the more you will be profitable.its very good if you leave the trade if you are in doubt.
for me, PROTECTING your capital more important than taking EXPECTED profit(only know it is a profit after it happened,the mkt could have gone the other way easily)

as strat said the GOLDEN rule roffessionals are looking at risk, other traders are looking at profit.
thats why risk is eating the accounts every now and then
  • #7,225
  • Nov 3, 2009 7:35am Nov 3, 2009 7:35am
Quoting soso
Briliant chart Blackeagle, I never cease to be amazed by your SIMPLE BUT CRYSTAL CLEAR charts!

Same here! I even change the colour of my chart from green on black to black on white to try to apply this "Blackeagle style chart".

Ramon
  • #7,226
  • Nov 3, 2009 10:19am Nov 3, 2009 10:19am
Quoting strat
What type of trader are you - daily scalper, swing, position or trend - do you know?

Hi Strat,

Is this a question valid for everybody on the "path"?
  • #7,227
  • Nov 3, 2009 10:52am Nov 3, 2009 10:52am
Quoting Janis A
Hi Strat and team.

This is my first post in FF. I study Your strategy for last weeks. Try to put some orders according Your rules and it works !

I would like to join “The Path of Learning”

Sorry on my English, it is not my native language
To join The Path of Learning, send your details by PM to "Naws" then go to Post # 1 on Page 1 and read and UNDERSTAND. Then read and UNDERSTAND Post # 2 and then do the same with each subsequent post until you are back here.

Read Post #7213 so that you understand the importance of reading and UNDERSTANDING each post.

No need to apologise for your English as it is far better than I could do in your native language.
15 YEARS OF PASR ON FOREX FACTORY!
  • #7,228
  • Nov 3, 2009 10:55am Nov 3, 2009 10:55am
Quoting oblo
Hi Strat,

Is this a question valid for everybody on the "path"?
Yes, most definitely
15 YEARS OF PASR ON FOREX FACTORY!
  • #7,229
  • Nov 3, 2009 10:58am Nov 3, 2009 10:58am
Strat,

what do you think about AUD/USD?
  • #7,230
  • Nov 3, 2009 11:07am Nov 3, 2009 11:07am
Quoting strat
What type of trader are you - daily scalper, swing, position or trend - do you know?
I'm fluid, and respond to what I see and understand (where i can), rather than expect the market to respond to what I believe.
  • #7,231
  • Nov 3, 2009 11:35am Nov 3, 2009 11:35am
Quoting strat
For those who want to read between the lines, my 100% mechanical system which had me long EURUSD from 1.4222 on Aug 20, 09 closed out on Oct 30, 09 at 1.4715.
For those that want to read between the lines of the lines, my EURUSD Investment is still long from 1.2950.
15 YEARS OF PASR ON FOREX FACTORY!
  • #7,232
  • Nov 3, 2009 11:49am Nov 3, 2009 11:49am
Quoting strat
For those that want to read between the lines of the lines, my EURUSD Investment is still long from 1.2950.
Strat, is that from april?
Presumably that you added to your investment, that's a huge snow ball that you are rolling...
  • #7,233
  • Edited 12:31pm Nov 3, 2009 12:07pm | Edited 12:31pm
Quoting hcristea
Strat, is that from april?
Presumably that you added to your investment, that's a huge snow ball that you are rolling...
No, from March and added and compounded. BUT, it's not a straight line and goes through some UGLY drawdowns. Like I have said previously, this is not really trading and is investing much like the old timers in the Stock market with their "buy and hold" policy. But NOT a "set and forget" policy. This is not for the faint of heart!
15 YEARS OF PASR ON FOREX FACTORY!
  • #7,234
  • Nov 3, 2009 12:33pm Nov 3, 2009 12:33pm
I have posted before several times that currencies “revolve” around certain moving averages.

If you can find which MA the currency “revolves” around for each pair, you have the key to Pandora’s Box.

But, be careful, you may not like what you find in her Box!
Attached Image (click to enlarge)
Click to Enlarge Name: gbpaud.gif Size: 25 KB
15 YEARS OF PASR ON FOREX FACTORY!
  • #7,235
  • Nov 3, 2009 12:37pm Nov 3, 2009 12:37pm
Quoting strat
No, from March and added and compounded. BUT, it's not a straight line and goes through some UGLY drawdowns. Like I have said previously, this is not really trading and is investing much like the old timers in the Stock market with their "buy and hold" policy. But NOT a "set and forget" policy. This is not for the faint of heart!
I disagree, i think that's trading at its best and should be something to aspire to.
  • #7,236
  • Nov 3, 2009 1:14pm Nov 3, 2009 1:14pm
Just to keep u all posted on developments - I'm running on demo for 6 months with no live trades to fully test and accept my style and plan. So far I have still been reticent to trade some set-ups and I've reviewed this and found that I was not fully trusting my plan, hence why I extended demo by another 3 months.

I'm only trading PASR set-ups with TL analysis WITH the Big Boss Trend. I have re read Al Brooks book to fully understand the picture beyond the candles (higher lows, lower lows, set-ups close to the 20ema etc)

I have re-read Mark Douglas' book and Bret Steenberger's 3 books as I know (thanks to Strat) that it's all about the 'man in the mirror'. I have a fully functioning spreadsheet that will display account balance, risk levels, hyperlinked charts etc. Currently making sure that I'm sufficiently capitalized to start trading, as a business, with $10,000 as soon as I feel I'm fully ready.

All the above I ignored before - and lost money. Trading is so much more than entry methods and all about psychology, money management, trading discipline and having interests and hobbies outside of trading so that you don't seek excitement from the markets.

Still here watching and thanks again to Strat for all the 'roastings' and teaching us the way of the markets. So glad I was pointed here some months back (cheers Nic) as I have un-learnt and re-learnt everything.
Trade less and become more profitable!
  • #7,237
  • Nov 3, 2009 1:37pm Nov 3, 2009 1:37pm
Quoting Grimweasel
Just to keep u all posted on developments - I'm running on demo for 6 months with no live trades to fully test and accept my style and plan. So far I have still been reticent to trade some set-ups and I've reviewed this and found that I was not fully trusting my plan, hence why I extended demo by another 3 months.

I'm only trading PASR set-ups with TL analysis WITH the Big Boss Trend. I have re read Al Brooks book to fully understand the picture beyond the candles (higher lows, lower lows, set-ups close to the 20ema etc)

I have re-read Mark Douglas'...
Good lad, Danny boy!

One of my rules for everything I do is:

80% Preparation and 20% Doing

You have certainly done your 80% now let's make sure you get the 20% right this time!
15 YEARS OF PASR ON FOREX FACTORY!
  • #7,238
  • Nov 3, 2009 1:42pm Nov 3, 2009 1:42pm
Great stuff Grimweasel, it is a very good thing that you extended your demo if you feel the need. May I ask if you have a WRITTEN trading plan? I found out that having a written trading plan will force you to deal with things that you THINK they are cut & clear but when wanting to write them down you'll see that you didnt think throughly and your mind is not decided and that's why you dont have faith in your "trading plan".
Now that I mention this I should point a finger at myself and start write my trading plan for the PASR method.

May I ask what software are you using as a journal to record your trades?
Trading = a mirror to your human flaws. Fix them or be fixed.
  • #7,239
  • Nov 3, 2009 1:50pm Nov 3, 2009 1:50pm
Quoting soso
Great stuff Grimweasel, it is a very good thing that you extended your demo if you feel the need. May I ask if you have a WRITTEN trading plan? I found out that having a written trading plan will force you to deal with things that you THINK they are cut & clear but when wanting to write them down you'll see that you didnt think throughly and your mind is not decided and that's why you dont have faith in your "trading plan".
Now that I mention this I should point a finger at myself and start write my trading plan for the PASR method.

May I ask...
Oh dear, soso -sleeping on the job again!

In several of my trading psychology posts and a few of my "soapbox" posts, I went on and on about the importance of THE WRITTEN TRADING PLAN.

Seems to me like you need a "Strat" refresher!
15 YEARS OF PASR ON FOREX FACTORY!
  • #7,240
  • Nov 3, 2009 2:36pm Nov 3, 2009 2:36pm
Quoting strat
Seems to me like you need a "Strat" refresher!
Drats! Anything but not The Beginning Of The Path Of Learning
Trading = a mirror to your human flaws. Fix them or be fixed.
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