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Strat's Long Term Stress Free Trading

  • #7,241
  • Nov 3, 2009 2:40pm Nov 3, 2009 2:40pm
Gotta be getting thin...

S&P 500 10 minutes prior to close today.
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  • #7,242
  • Nov 3, 2009 3:07pm Nov 3, 2009 3:07pm
Will it or won't it?
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15 YEARS OF PASR ON FOREX FACTORY!
  • #7,243
  • Nov 3, 2009 3:08pm Nov 3, 2009 3:08pm
Quoting strat
Yes, most definitely
I just asked because to this point I really still do not know. Since I am learning to trade to the nearest SR level, maybe I would define this style more similar to the swing trading or daily scalper. I feel I need more experience to understand what kind of trader I am, but for sure a stressfree kind.
  • #7,244
  • Nov 3, 2009 3:11pm Nov 3, 2009 3:11pm
Quoting strat
Will it or won't it?
I have 2.82% says it will. My candles are a little different to yours however and seem to be making nice little stair steps higher.

Either way, risk is defined and accepted. What will be, will be (don't look back in anger)
  • #7,245
  • Nov 3, 2009 3:19pm Nov 3, 2009 3:19pm
Quoting AstonDan
I have 2.82% says it will. My candles are a little different to yours however and seem to be making nice little stair steps higher.

Either way, risk is defined and accepted. What will be, will be (don't look back in anger)
Well it was making HHs and HLs until it double topped so I need a sign - a nice $$$$ sign would be very nice!
15 YEARS OF PASR ON FOREX FACTORY!
  • #7,246
  • Nov 3, 2009 3:24pm Nov 3, 2009 3:24pm
Same question
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15 YEARS OF PASR ON FOREX FACTORY!
  • #7,247
  • Nov 3, 2009 3:34pm Nov 3, 2009 3:34pm
The answer, my friend, is Blowin' In The Wind
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15 YEARS OF PASR ON FOREX FACTORY!
  • #7,248
  • Nov 3, 2009 3:44pm Nov 3, 2009 3:44pm
  •  Sid
  • | Joined May 2009 | Status: Get wise or die laughing | 85 Posts
Quoting strat
Are you using a PLAN? Are you PLANNING your trade and then trading your PLAN?

What type of trader are you - daily scalper, swing, position or trend - do you know?

Do you know what type of trade you are planning OR just HOPING for the best that you can get?

Hint: There is NO hope in trading.

The truth is I haven't figured this out yet and realise that there is still a lack of clarity. Which of course links into having an appropriate plan...
Thanks for that Strat!
  • #7,249
  • Nov 3, 2009 3:50pm Nov 3, 2009 3:50pm
BEOB out of Weekly SR (Check back to 1995) & DSRI.

BUT BOSS trend is clearly UP! Will take a quick profit at FIRST suport at 0.881 if I get the chance.
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Trading = a mirror to your human flaws. Fix them or be fixed.
  • #7,250
  • Nov 3, 2009 4:30pm Nov 3, 2009 4:30pm
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...
Hi Soso and thanks for the kind words - I'm just using excel for my trading journal with some tweeks allowing me to show -ve value etc when going short as a profit, that updates my running total and adjusts my 1% risk tally depending on the outcome (PL terms) of the last trade.

I have a written plan (must have changed it loads over the past year or so) and I have a belief statement to sign before each days (end of day in my case) trading. All these small checks are enshrined in my 'tactical' plan to protect me from 'him' (ie the naughty bloke in the mirror who helped to foul things up previously!)
Good trading all!
Trade less and become more profitable!
  • #7,251
  • Edited 5:05pm Nov 3, 2009 4:33pm | Edited 5:05pm
Quoting strat
Same question
Thanks for the positive comments Strat. 20% here we come (soon, no rush the market is always there!)

Btw, I thought you took the 'beast' off your watchlist?

Looking at it, after a strong minor TL break (from the double top highs)with 2 pushes down to the longer term up TL intersection double bottom I think we should at least be expecting a 'test' of that minor TL break and poss double bottom with a HL?

Prefer short below 145.60 level to 141.00 BO level (red line on chart near hammers)
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Trade less and become more profitable!
  • #7,252
  • Nov 3, 2009 6:09pm Nov 3, 2009 6:09pm
Quoting Grimweasel
Thanks for the positive comments Strat. 20% here we come (soon, no rush the market is always there!)

Btw, I thought you took the 'beast' off your watchlist?
I took the "beast" off the list for those on The Path. It will always be on my list.

I took Euro Swiss Roll (EURCHF) off my watch list.
15 YEARS OF PASR ON FOREX FACTORY!
  • #7,253
  • Nov 3, 2009 6:47pm Nov 3, 2009 6:47pm
Took a bit of a long weekend - quick and dirty is that I am back in EURJPY and USDJPY. Am about to buy some E/D as well. Feel free to tell me why.
  • #7,254
  • Nov 3, 2009 7:37pm Nov 3, 2009 7:37pm
I don't think so.

USDCAD monthly hovering at the 61.8% retrace support and 1.0625 monthly support close by. Still in an overall downtrend but the current retrace is loosing momentum.

USDCAD weekly is also overall down but price has been rejected by 2 successively higher support levels 1.0325 and 1.0625. Last week wasn't a confirmed swing high so using last swing high as DSRI. Last week broke to the topside of what appears to be powerful confluence of weekly 1.0625 resistance, the 61.8 fib and DSRI, which is now acting as support.

USDCAD daily wants me to think it's headed south just reading candles and all the LH/LL swings. BUT I THINK IT'S LYING.

If I entered this as a sell, my risk is roughly 200 pips (still 2% no matter how many pips though) and I'd be fighting the 20, the 50, recently broken DSRI and support at 1.0625. I'd be selling into support in other words.

By the same token, it's trapped between the worker and boss. Will wait to see what happens,
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  • #7,255
  • Edited 8:02pm Nov 3, 2009 7:40pm | Edited 8:02pm
Quoting Alexandra
Took a bit of a long weekend - quick and dirty is that I am back in EURJPY and USDJPY. Am about to buy some E/D as well. Feel free to tell me why.
You can't beat quickies on a long dirty week-end!

Feel free to tell me why - you mean you don't know? You should never trade without knowing why.
15 YEARS OF PASR ON FOREX FACTORY!
  • #7,256
  • Nov 3, 2009 8:38pm Nov 3, 2009 8:38pm
Be careful today (Wednesday) -
The FOMC announces the interest rate for the US dollar and it can have big effects.
Consensus is for no change to the rate but the market will be looking at the comments for hints of an exit strategy from quantitative easing or whether the outlook for inflation remains subdued.
The announcement is at 19:15 London time, 14;15 NY time.
  • #7,257
  • Nov 3, 2009 9:19pm Nov 3, 2009 9:19pm
Quoting strat
Will it or won't it?
October bar on Big Boss chart whispers it will. Only problem is the immediate SR line.
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  • #7,258
  • Nov 3, 2009 9:34pm Nov 3, 2009 9:34pm
Still respecting the blue DSRI line and still trying to recover from Oct. 21st knock-out. A decisive breakout of immediate SR at 1.6600 (IF) will determine the fate of all GBP crosses.
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  • #7,259
  • Nov 3, 2009 9:40pm Nov 3, 2009 9:40pm
Quoting Alexandra
... Am about to buy some E/D as well. Feel free to tell me why.
I can tell you why you shouldn't, at least at current level.
  • #7,260
  • Nov 3, 2009 9:49pm Nov 3, 2009 9:49pm
Quoting strat
You can't beat quickies on a long dirty week-end!

Feel free to tell me why - you mean you don't know? You should never trade without knowing why.

Are you kidding? That was a rhetorical question for our viewers! (You knew that already, didn't you? Indeed, Trick or Treat)
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