Strat's Long Term Stress Free Trading | Page 369 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Strat's PASR Long Term, Stress Free Trading 18,592 replies

M5 PASR Trend Trading Strat 95 replies

What you need for trading: indis, a strat & good music 27 replies

Another way to stress free, mechanic long term trading 29 replies

Short Term / Medium Term / Long Term? 3 replies

Attachments: Strat's Long Term Stress Free Trading
Exit Attachments

Strat's Long Term Stress Free Trading

  • #7,361
  • Nov 8, 2009 8:00pm Nov 8, 2009 8:00pm
Quoting Blackeagle
Another great lesson/hint. Thanks.
Hmmm...Jacko is on the thread it seems. Indeed...all about tape reading in the end. As for predictions....the gaps are no suprise to this tape reader.....soneone pulled the tape Friday!
  • #7,362
  • Nov 9, 2009 3:14am Nov 9, 2009 3:14am
Hello all

I have just started studying this thread, only have about 6000 more posts to read, but I need to know whether the DSRI is an indicator that is drawn for you or is it some kind of trend line that you draw yourself.

I have come a long and expensive route to this point, I believe that this is the kind of trading that my lifestyle requires, so am determined to learn it as well as my three 22 year birthdays will allow.
  • #7,363
  • Nov 9, 2009 3:35am Nov 9, 2009 3:35am
Quoting strat
I am at the first step only on the Path so my comments need to be seen in that light.

Too modest, Christopher! You have moved very nicely on The Path!
Thank you for your comment Strat. I am moving certainly and in the right direction BUT I am very aware that it only takes a couple of silly moves to knock me back again. The urge to 'look for trades' rather than let them jump out at me is very strong but I am learning to resist.

Any improvement on my part is due to your advice and other posters on this thread like Blackeagle, Elitejets and Alexandra who know what they are doing, and all those learners who post charts to trigger thought and get advice.

So thanks to all!
  • #7,364
  • Nov 9, 2009 3:44am Nov 9, 2009 3:44am
Quoting LarryK
Hello all

I have just started studying this thread, only have about 6000 more posts to read, but I need to know whether the DSRI is an indicator that is drawn for you or is it some kind of trend line that you draw yourself.

I have come a long and expensive route to this point, I believe that this is the kind of trading that my lifestyle requires, so am determined to learn it as well as my three 22 year birthdays will allow.

Welcome LarryK - this thread is worth the trouble believe me!!! ... although the number of posts seems to increase exponentially! I went away on holiday for a couple of weeks and it took me two days of solid reading to catch up again.

Next month I'll be able to give you a couple of years, so don't despair. With age comes a degree of self-control and focus...................ummmm possibly!

P.S. DSRIs are a bit of a mystery to me too. You draw them yourself. I think of them as very short term Trend Lines but I'm probably wrong. The first thing to get right is Support and Resistance lines. Blackeagle's posts are the ones to go for for those.

So Good Luck and welcome to the thread! I fear one doesn't get success without work, but be assured it pays off in the end. No short cuts (regrettably!).
  • #7,365
  • Nov 9, 2009 12:14pm Nov 9, 2009 12:14pm
Quoting strat
I particularly like this statement. I would like to ask however, regarding to Dr Joe's, we buy when it's going up and sell when it's going down. So, even if a price has reached all time high/low we will still be looking for opportunity to go long/short when good pasr presents. Correct?...

Hi strat.. thanks for taking the time to answer my questions.. It is very clear to me now. Thanks

Sean.
Discipline is PRIMARY, Method is Secondary.....
  • #7,366
  • Nov 9, 2009 12:32pm Nov 9, 2009 12:32pm
Quoting strat
………….it took 6 days to drop only 157 pips from 0.9800 major SR but only 3 days to climb 215 pips

Great minds think alike, Blackeagle! When I can’t see the stair steps in a trend, I count the time and pips in each “wave/swing” to get an idea of which is Impulse and which is Corrective
Hi Strat.. what do "corrective or correction" actually mean? I read it alot from posts and don't quite understand them.

Here's my understanding about it, please correct me if I'm wrong. For example, during an Uptrend, and the price retraces and goes down, we can refer this retrace as a "correction move", before it continues back its original uptrend move?

Is that what it means? Just trying to catch the lingoes here. Thank

Sean
Discipline is PRIMARY, Method is Secondary.....
  • #7,367
  • Nov 9, 2009 1:21pm Nov 9, 2009 1:21pm
Quoting Dabestone
Hi Strat.. what do "corrective or correction" actually mean? I read it alot from posts and don't quite understand them.

Here's my understanding about it, please correct me if I'm wrong. For example, during an Uptrend, and the price retraces and goes down, we can refer this retrace as a "correction move", before it continues back its original uptrend move?

Is that what it means? Just trying to catch the lingoes here. Thank

Sean
I know you addressed this query to Strat, but my take on it is like me running up a staircase. The impulse is UP but from time to time I have to pause to get my breath back (something which happens more and more frequently). This I would take to be the correction. Except that in an UP trend the correction amounts to a few steps back. In a DOWN trend the reverse would be true.

[This is where the 'running up stairs' analogue become inadequate of course. In real life there tends to be no pause running down, more of a helter skelter tumble!]

But come to think of it, prices tend to fall faster than they climb, so perhaps the analogue is not so bad!

Wait a bit though, and Strat will tell you what the real answer is!
  • #7,368
  • Edited 1:35pm Nov 9, 2009 1:34pm | Edited 1:35pm
Strat,

I felt it was time to introduce myself as I spend all my free time reading this thread .

I am on post #2028 after 3 weeks (from post#1), and the journey continues to be amazing .. as are you and your "team" .

After 3 years really "fooling around" with other groups, indicators and systems, it was clear that I really didn't understand anything about FOREX.

The "stress free" part grabbed me, and in desperation and frustration I embarked upon your thread, with back and forth to J16 and Jacko as needed. I have learned more in these 3 weeks than in the prior 3 years.

The light begins to dimly shine with so much more to absorb. The Path of Learning is long, but is the ONLY way to full illumination.

I shall be continuing the journey silently until I read the entire thread.

So till then, in the background....
  • #7,369
  • Edited 1:41pm Nov 9, 2009 1:36pm | Edited 1:41pm
Quoting strat
If my light had gone in 1995, I would have known that the price of 94.21 would act as support and resistance in October 2008 through February 2009.
I am one of the slower learners here on this board and am currently studying all of the support and resistance posts in depth. This quote is from one of the earliest posts from strat on support and resistance but check the current chart. PFM.

I'm understanding why it is so important to have the major and important minor support lines on your chart...BEFORE anything else...and then leave them there.

P.S. I am not showing 94.21, I am showing just another support line. The .21 is just a coincidence in this case.
Attached Image (click to enlarge)
Click to Enlarge Name: usdjpy.jpg Size: 104 KB
  • #7,370
  • Nov 9, 2009 3:29pm Nov 9, 2009 3:29pm
As far as I know the terms impulse & correction were introduced to mainstream by EW theory. I also use for a long time the method that Strat discussed about, counting the time & price of recent swings, it is an old method of reading the momentum of a swing directly our of price bars. Lower momentum is (usually) associated with corrective swings while higher momentum with impusilve swings (again, usually).

This is my understanding & usage of the method...

P.S. Regarding EW Theory, dont go there, it is a dark place and it takes a lot of time & passion to find a way out. This thread has already enough good information - and I might say clear cut information unlike EW.
Trading = a mirror to your human flaws. Fix them or be fixed.
  • #7,371
  • Nov 9, 2009 3:54pm Nov 9, 2009 3:54pm
Quoting Blackeagle
The reason is not the leftover from Friday, it is because IMF's statement on exchange rates at weekend.
If you missed it ...
http://www.bloomberg.co.uk/apps/news...DqoEZ.mU&pos=4
  • #7,372
  • Nov 9, 2009 3:56pm Nov 9, 2009 3:56pm
Here is a very good video about accepting losses, becoming consistent and thinking like a professional trader.
I have watched it many times and it helps me stay on track.

http://www.4shared.com/file/96740657...er_Market.html
  • #7,373
  • Nov 9, 2009 4:09pm Nov 9, 2009 4:09pm
Quoting Sid

It makes me laugh how greed gets us into this game only to get in our way of getting the very thing we are greedy about.
Sid, this is MAGIC! Definitely needs to go in the trading psychology Hall of Shame!

Naws - Will you put this in a prominent place in the Index please. Thanks.
15 YEARS OF PASR ON FOREX FACTORY!
  • #7,374
  • Nov 9, 2009 4:22pm Nov 9, 2009 4:22pm
Alexandra, I think you missed Post # 7148 on Page 477. Please study the article in that post and share your thoughts with us. Thanks.
15 YEARS OF PASR ON FOREX FACTORY!
  • #7,375
  • Nov 9, 2009 4:29pm Nov 9, 2009 4:29pm
Quoting elitejets
If you missed it ...
http://www.bloomberg.co.uk/apps/news...DqoEZ.mU&pos=4
If it's in the news it must be time to buy the $ LOL

Big gap up on the FTSE100 today but on low volume - if this means something then Mr Market will be sure to show us.
Trade less and become more profitable!
  • #7,376
  • Nov 9, 2009 4:34pm Nov 9, 2009 4:34pm
Quoting LarryK
Hello all

I have just started studying this thread, only have about 6000 more posts to read, but I need to know whether the DSRI is an indicator that is drawn for you or is it some kind of trend line that you draw yourself.

I have come a long and expensive route to this point, I believe that this is the kind of trading that my lifestyle requires, so am determined to learn it as well as my three 22 year birthdays will allow.
Hey Larry, if you know about DSRI and you are only at the beginning of the thread then you must be one of those readers that read the back pages of novels to find out who dunnit before even getting into the plot!

Don't do that to yourself - that is NOT stress free! Start on Post # 1 and read and UNDERSTAND it. When fully understood, move onto Post # 2 and so on. The important point is UNDERSTANDING. Reading WITHOUT understanding is an absolute waste of time. Make a list of questions and wait for them to be answered later in the thread. If they are not answered, ask on here.

Forget about DSRI for now - just learn PASR. When you know PASR upside down and inside out and can trade hanging upside down from the Golden Gate with your eyes closed, then we will discuss DSRI. Deal?
15 YEARS OF PASR ON FOREX FACTORY!
  • #7,377
  • Nov 9, 2009 5:10pm Nov 9, 2009 5:10pm
Quoting Dabestone
Hi Strat.. what do "corrective or correction" actually mean? I read it alot from posts and don't quite understand them.

Sean
Sean, according to Elliott Wave theory, PRICE moves in waves. Dow and especially R N Elliott broke this down into a 5 wave up move followed by a 3 wave correction.

The 5 wave up move is broken down into 3 Impulse waves (waves 1, 3 and 5) and 2 Corrective waves (waves 2 and 4). Just to confuse everyone, the 3 wave correction consists of 2 Impulse waves and 1 Corrective wave.

All we need to know are the retraces in a trend. Are they retraces or the beginning of a new trend? Trying to identify the Impulse waves followed by corrective waves “sometimes” helps – many times it doesn’t.

I have studied EW theory extensively (and expensively) with Bob Prechter and AJ Frost and shared many, many analyses with their students and now EW analysts in their own right. I have bought (and trashed) Advanced GET, the premier EW software and other expensive EW software and subscribed to several EW websites.

The problem with EW theory is that it is VERY subjective. You can put 10 EW analysts in a room to analyse a chart and EACH will come up with a different wave count. Yes, after a move is complete, you can go back and count the waves but while the move is on – going, IT IS IMPOSSIBLE. The followers of EW theory and those subscription websites will give a wave prediction ( which is about as reliable as any of my predictions (I don’t predict)) and then when it doesn’t work out, they tell you it has gone into a “correction”! The EW disciples are NEVER wrong – they always have a “correction” or a “sub – wave” to fall back on.

So, an Impulse Wave is the trend while a Corrective Wave is against the trend.

That is all you need to know about Elliott Waves – don’t waste your time, energy and money on it – it is as reliable as The Weather Forecast in the UK!
15 YEARS OF PASR ON FOREX FACTORY!
  • #7,378
  • Nov 9, 2009 5:17pm Nov 9, 2009 5:17pm
Quoting djr
Strat,

I felt it was time to introduce myself as I spend all my free time reading this thread .

I am on post #2028 after 3 weeks (from post#1), and the journey continues to be...
Member since August 2006 and this is your 1st post! That is some serious “fooling around”.

If you are studying this thread, make sure the “fool” in you has gone and gone for good!

A fool and his money are easily parted!
15 YEARS OF PASR ON FOREX FACTORY!
  • #7,379
  • Nov 9, 2009 5:25pm Nov 9, 2009 5:25pm
Quoting mstandifer
I am one of the slower learners here
This is a very good attribute to have - you are doing good. It is much better to learn slow and thoroughly than fast and know nothing.

Remember the tortoise and the hare and who won?
15 YEARS OF PASR ON FOREX FACTORY!
  • #7,380
  • Nov 9, 2009 5:33pm Nov 9, 2009 5:33pm
Quoting soso
I also use for a long time the method that Strat discussed about, counting the time & price of recent swings, it is an old method of reading the momentum of a swing directly our of price bars.
Are you implying that........................ Hmmmm, maybe an excursion to you know where may be in order here!
15 YEARS OF PASR ON FOREX FACTORY!
4 traders viewing now