Strat's Long Term Stress Free Trading | Page 374 | 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

  • #7,461
  • Nov 11, 2009 11:25am Nov 11, 2009 11:25am
Quoting TheFutureAce
I saw this hanging man on gbpusd right at the 6600 area and I knew price was going down... but i didnt take it.....

Am i correct?
Ace - you couldn't have 'known' that price was going down; not if you read/watch Mark Douglas- all you have is an indication of a repetitive pattern giving you an 'edge'. Hanging Man candles are an indication of the bulls running out of steam as seller have stepped in to drive the PA down; the bulls have then stepped back in and driven price back up, giving you the hanging man.

These candle's are not good set-ups IMO. They give an indication of possible moves afoot but I wouldn't trade them as a set up. They always form within price boundaries and rarely form rejections of big levels as hammer and shooting stars do.

You could have taken a trade on cable using the body of the candle in another manner but Strat is not teaching that; yet.

Just don't fall into the trap of 'knowing' what will happen next; it's impossible to know - once you have grasped this mate you will be another step further along the path.
Trade less and become more profitable!
  • #7,462
  • Nov 11, 2009 11:29am Nov 11, 2009 11:29am
Quoting mstandifer
I have FXPro too and mine looked the same as Strat's until just recently. My posted charts are IBFX but here are both for you to compare.

Strat's
IBFX
FXPro
Guys, don't waste your time and energies on this. You can ONLY trade what YOU see on YOUR chart - not mine or any others. Over time, it all evens itself out. Worrying about this is not worth even one of Lotuselanman's gray hairs!

If you look at all 3 charts, they are all giving the same message - in fact on your two, the message is LOUD and CLEAR - on mine, it's a bit foggy!
15 YEARS OF PASR ON FOREX FACTORY!
  • #7,463
  • Nov 11, 2009 11:32am Nov 11, 2009 11:32am
Quoting elitejets
There goes your trendline, I hope you are in
I will bet you are though, my dear!
15 YEARS OF PASR ON FOREX FACTORY!
  • #7,464
  • Nov 11, 2009 11:35am Nov 11, 2009 11:35am
Quoting hcristea
Yep, my charts looks the same too. False Alarm!
I was comparing a strat's CADJPY with my chart, but instead i was looking at GBPJPY and i couldn't understand why they are different
Have you tried glasses or maybe a visit to an Optometrist?

Or maybe stop doing the things that make you blind!!!!!!!!!!
15 YEARS OF PASR ON FOREX FACTORY!
  • #7,465
  • Nov 11, 2009 11:39am Nov 11, 2009 11:39am
Quoting strat
I will bet you are though, my dear!
Brave lads and lasses (well,not Nic as she's on a break - good luck with everything Nic)! - 'fading' Big Boss hammers!! The hammer is at the 76% retrace from monthly low to high (1985-2001, I don't have historical date back from 1985) but no SR levels for true confluence!
Attached Image (click to enlarge)
Click to Enlarge Name: gbpaud_-BBoss.png Size: 52 KB
Trade less and become more profitable!
  • #7,466
  • Nov 11, 2009 11:41am Nov 11, 2009 11:41am
Quoting Grimweasel
I'd be slightly cautious of any set-ups today as it's a Holiday in the US, CAD and France; we may see some low volume manipulative moves.
What? No holiday here in the US (if there is then no-one has told me!)
15 YEARS OF PASR ON FOREX FACTORY!
  • #7,467
  • Edited 12:19pm Nov 11, 2009 11:44am | Edited 12:19pm
Quoting strat
What? No holiday here in the US (if there is then no-one has told me!)

Strat!! It's Nov 11 - Veterans' Day. Is that a Bank Holiday over there? ForexFactory had it down as a Bank Holiday on the Calendar too.

http://www.madmanmike.com/us_holidays_dates.html
Trade less and become more profitable!
  • #7,468
  • Nov 11, 2009 11:49am Nov 11, 2009 11:49am
Quoting Grimweasel
Naughty Strat!! It's Nov 11 - Veterans' Day. Is that a Bank Holiday over there?

http://www.madmanmike.com/us_holidays_dates.html
Serpently not, not even for the Merchant Wankers!
15 YEARS OF PASR ON FOREX FACTORY!
  • #7,469
  • Nov 11, 2009 12:04pm Nov 11, 2009 12:04pm
Quoting mstandifer
I apologize for all the posts recently but it's hard not to be enthusiastic when surrounded by so many good traders with quality posts.

The quoted post is not a good post because it gives you a trading plan for the chart (that would be just giving you the fish)....
Thank you, mstandifer.

I started this thread with the goal of helping traders become profitable or MORE profitable and successful. Nothing else.

Reading posts like yours assures me I am not wasting mine or anyone else’s time. I will continue to help, in my style, as best I can.
15 YEARS OF PASR ON FOREX FACTORY!
  • #7,470
  • Nov 11, 2009 12:12pm Nov 11, 2009 12:12pm
Quoting mawbvw@hotma
Elitejets, Many Thanks for the video - great reinforcement of the book!

Do you, by any chance, happen to know if anyone has captured the arithmetic aspects of the underpinning methodology into a downloadable spread-sheet (for sale of otherwise)? I would really love to incorporate it into my (Excel) trade journal to make it a more "rule-based" approach. I believe that it may help balance my occasional (increasing) memory problems that seem to thwart some of my trades

Regards,

Mike
Apart from quoting the wrong Nicola post, WHAT THE HELL ARE YOU TALKING ABOUT?

There is NOTHING from that Mark Douglas video to put in a spreadsheet.

Go back and read LOU'S post who did a far better summary of the video than I.

Memorise that summary and when you SEE the OPPORTUNITY act upon it in accordance with the summary.

That's all there is to it - its SIMPLE!

Excel spreadsheet! Pretty soon you will want one for tracking the stars!
15 YEARS OF PASR ON FOREX FACTORY!
  • #7,471
  • Nov 11, 2009 12:25pm Nov 11, 2009 12:25pm
I think this is a good breakout trade setting up, a good looking wedge / flag / triangle.
Or you could trade it as a break of last weeks Boss inside bar.

Strat has said this before but GBPJPY is a beast, if you are new-ish then you might want to halve your risk when you start trading it.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy daily.gif Size: 37 KB
  • #7,472
  • Nov 11, 2009 12:33pm Nov 11, 2009 12:33pm
Quoting Grimweasel
Ace - you couldn't have 'known' that price was going down; not if you read/watch Mark Douglas- all you have is an indication of a repetitive pattern giving you an 'edge'. Hanging Man candles are an indication of the bulls running out of steam as seller have stepped in to drive the PA down; the bulls have then stepped back in and driven price back up, giving you the hanging man....

Thanks Grimweasel. I wanted to take the trade as the hanging man came right at one of my SR lines 6600. but u are correct...I will keep this in mind
  • #7,473
  • Nov 11, 2009 1:40pm Nov 11, 2009 1:40pm
Yes you are correct thefutureace this is a very nice hanging man and also to add to your anallise's of price the longer the lower wick the better especially cover of bullish candle ,also small top wick


Quoting TheFutureAce
I saw this hanging man on gbpusd right at the 6600 area and I knew price was going down... but i didnt take it.....

Am i correct?
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #7,474
  • Nov 11, 2009 1:44pm Nov 11, 2009 1:44pm
Quoting strat
Guys, don't waste your time and energies on this. You can ONLY trade what YOU see on YOUR chart - not mine or any others. Over time, it all evens itself out. Worrying about this is not worth even one of Lotuselanman's gray hairs!
If you look at all 3 charts, they are all giving the same message - in fact on your two, the message is LOUD and CLEAR - on mine, it's a bit foggy!

HANG ON STRAT!!! Don't give away my grey hairs, they are precious as there aren't many of them left.

[At least that's what my girlfriends tell me! When I look in the mirror I see a full auburn mop of course!]

P.S, Thanks for your comments on trading the range of EURJPY. I couldn't reply at the time because I was out and am now back home catching up on the masses of posts that have come in the last couple of days. As always your reply was VERY helpful.
  • #7,475
  • Nov 11, 2009 1:46pm Nov 11, 2009 1:46pm
Quoting Bones
Yes you are correct thefutureace this is a very nice hanging man and also to add to your anallise's of price the longer the lower wick the better especially cover of bullish candle ,also small top wick
BULLSHIT!
15 YEARS OF PASR ON FOREX FACTORY!
  • #7,476
  • Nov 11, 2009 1:50pm Nov 11, 2009 1:50pm
what makes you say that strat
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #7,477
  • Nov 11, 2009 1:53pm Nov 11, 2009 1:53pm
Every word is a fact,period

Quoting Bones
Yes you are correct thefutureace this is a very nice hanging man and also to add to your anallise's of price the longer the lower wick the better especially cover of bullish candle ,also small top wick
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #7,478
  • Nov 11, 2009 1:54pm Nov 11, 2009 1:54pm
Quoting TheFutureAce
I saw this hanging man on gbpusd right at the 6600 area and I knew price was going down... but i didnt take it.....

Am i correct?
Originally Posted by TheFutureAce
Hello,

I am living of this thread for past 2 weeks. My work is extremely busy these days...so going at the speed of tortoise right now. I am 31 yr old and came to know about the forex world 3 months back and I am still learning a lot.

I saw this hanging man on gbpusd right at the 6600 area and I knew price was going down... but i didnt take it.....

Just hang on while I find my double barreled shotgun, my very best “Strat beating up” bat and my best bollocking hat!

So, you have only known forex for 3 months and, on your own admission, are still learning a lot.

Where did you go to learn this? I saw this hanging man on gbpusd right at the 6600 area and I knew price was going down.

If what you say is really true, then you are indeed the Miracle Man we have all been waiting for all these years. You KNOW this in only 3 months? – you truly must be the Trading Messiah sent to us from afar!

From now on, I am handing over my thread to you so that you can post these remarkable predictions so that we can all become $Billionaires overnight!

Before I do that though, I will share the benefit of my 27+ YEARS of trading experience.

Gee, where to start?

What you have learned in 3 months is NOTHING compared to what you need to know to be successful and profitable trading.

What you have learned in 3 months, based on your above statement is WRONG.

What you have learned in 3 months is to have an OPINION on future direction of the market. This is ABSOLUTELY AMAZING – all the Professional traders I know and have known and I will bet, all the Money Managers and Market Makers, have NO opinion on market direction.

What you have learned in 3 months is how to develop an ego, a smart ass attitude and put a chip (log) on your shoulder.

Unless you truly are the Miracle Man and Trading Messiah, you NEED to and MUST change your attitude.

Now, since I don’t believe in Santa Claus, I doubt whether you are who you say you are.

I also doubt “I knew price was going down.”

“IF” you truly knew and believed, you would have traded it. You probably “guessed” it was going down and since this is all about probabilities, you had a 50% chance of being right (or wrong).

So, in your 3 months of learning Forex you must have read a Candlestick book or website that said a hanging man candle was a price reversal candle. I have also read that.

I have also read other information which said a hanging man candle was NOT a price reversal candle, only a WARNING of a price reversal and to seek confirmation candles before trading.

In my earlier trading days, I traded hanging man candles (along with others) and was profitable many times. Unfortunately, I lost more than I made trading these candles.

After “my” light bulb moment, I spent hours, days, weeks, months, years (and still do), studying charts and the information on them. Long story short, I proved for myself that hanging man candles were very unreliable as price reversal bars and were nothing more than “warning” candles. For each hanging man that reversed PRICE, I could find one or maybe more where it didn’t and PRICE continued in the trend direction.

If you want a recent example of this, then go to the same Worker GBPUSD chart and look at October 16.

Now, if you have read and UNDERSTOOD this thread from Post # 1 to this one (which I seriously doubt), you would have a “good idea” what would happen. However, trading a “good idea” is not taught on this thread.

Even if you were “sure” PRICE would go down, how would you trade it? Where would your entry be? Where would your SL be?

I’m no expert but even with my experience and advanced trading strategies, I didn’t have the balls to enter a short trade even though everything was lined up for me. Contrary to the Mark Douglas video, I didn’t take it because I was not comfortable with the RISK.

I would have had my entry at 1.6580 and my SL at 1.7050 – a RISK of 470 pips I just could not handle together with how far from the last close the entry was and considering the volatility of GBPUSD.

I am NOT desperate for a trade so I PATIENTLY wait for a confirming candle which we now have.

Did you see my post on this pair and did you UNDERSTAND what I implied?

Anyway, getting back to you, if you are to be successful and profitable at trading and live up to your TheFutureAce moniker, you had better knuckle down, shut up and spend 3 months of reading and UNDERSTANDING this thread (The Path of Learning). Hopefully this will bring you to your senses.

In closing, I will tell you that the Market is looking for, and welcomes with both arms, people like you. Right now, you are the prey for the Predators (and little squirts like us). Change or be changed!

I was just getting ready to post this when I saw thoseRED and BLUEarrows on your chart.

Are you a RED INDIAN or perhaps Robin Hood – why do you need those arrows? What use are they to you? What information do they tell you that PASR doesn’t.

Maybe you think they are Voodoo Magic for Miracle Man and Trading Messiahs.

Do you know how they are printed on your chart?

Without seeing the code, I am guessing they print on the cross of the 5 and 13 ema moving averages. If you had read this thread you would know that moving averages LAG price.

You should also know that these useless pieces of crap REPAINT and REPAINT BIG TIME!!!!!!

The arrow does not print until AFTER the ema cross. The cross does not happen until PRICE has moved a certain distance. So the cross is lagging behind something (emas) that already LAGS. While you are watching this shit, we have seen PASR and are already in our trades.

Because these bags of shit REPAINT, they ALWAYS look perfect when you scroll back in history. They have to as they are using the close of each candle!

Furthermore, as long as you have crap like this on your charts, you will forever be distracted and will not give PASR the 100% attention it needs.

The more useless crap you have on a chart, the more confused you will be. All confused traders are LOSERS!

But there again, if you want to be the prey……………………………………
15 YEARS OF PASR ON FOREX FACTORY!
  • #7,479
  • Nov 11, 2009 1:56pm Nov 11, 2009 1:56pm
Just like this was not a shooting star ,did you see what price did

Quoting Bones
Its not a shooting star at all ,do you know why ?
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #7,480
  • Nov 11, 2009 1:56pm Nov 11, 2009 1:56pm
Quoting strat
Have you tried glasses or maybe a visit to an Optometrist?

Or maybe stop doing the things that make you blind!!!!!!!!!!
Haha
I heard that the British scientists proven that its only a myth!
8 traders viewing now