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  • #7,621
  • Nov 13, 2009 6:00am Nov 13, 2009 6:00am
Just a reminder of the GBPJPY BOSS important SR level.

And a zoom in on current action. There is no sign yet in which way will break. I'll wait for a strong close on either side.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbpjpy.png Size: 33 KB
Click to Enlarge Name: gbpjpy_zoomin.png Size: 10 KB
Trading = a mirror to your human flaws. Fix them or be fixed.
  • #7,622
  • Nov 13, 2009 6:47am Nov 13, 2009 6:47am
Quoting Keyser Soze
Guys, i've just read the post 405, with the merchent wanker and i've just made a connection

Maybe some of you are thinking that we are in 2009 and the big boys are not using MA and EMA anymore, that was in 97. Now they have something more powerful.

WRONG

After reading the post mentioned above, i've just remember that i read sometimes macro man's blog. Macro man is a portfolio manager at a medium-sized London macro hedge...
Indeed, no worries, but keep in mind also that many funds go bust.
  • #7,623
  • Nov 13, 2009 6:49am Nov 13, 2009 6:49am
Quoting soso
Just a reminder of the GBPJPY BOSS important SR level.

And a zoom in on current action. There is no sign yet in which way will break. I'll wait for a strong close on either side.
It is wise to watch this pair from Boss, because there is too much noise on worker around 150 SR.
  • #7,624
  • Nov 13, 2009 9:30am Nov 13, 2009 9:30am
Quoting swingtrade65
Hi Folks,

I just wanted to throw out a couple of charts that hold interest for me right now. The first one is my favorite trading vehicle, the GBP/JPY...I like her cause she does not fool around, she moves.
We are at a place where this pair has to do the proverbial "crap or get off the pot" in my opinion.

She has built a text book triangle on the worker. This triangle is completely symmetrical from both a classic trendline and a DSRI point of view. We have to be careful of shakeouts, but PA will tell us the real story here.

Check it out for...
I just wanted to throw out a couple of charts that hold interest for me right now. The first one is my favorite trading vehicle, the GBP/JPY...I like her cause she does not fool around, she moves.
We are at a place where this pair has to do the proverbial "crap or get off the pot" in my opinion.

She has built a text book triangle on the worker. This triangle is completely symmetrical from both a classic trendline and a DSRI point of view. We have to be careful of shakeouts, but PA will tell us the real story here.

Check it out for yourself and see what you think. ( Oh, the reason I refer to this pair as 'her' is that I have been a Yen trader for over 10 years and this pair is like my mistress)

Many thanks, Brian.

Hmmm, a mistress who is a “mover”, doesn’t fool around and pays you! Lucky guy! Does she have a sister you can introduce me to?

These are the situations where PATIENCE, waiting for PA, pays off big time as these usually, but not always, produce big moves. Like you say, we have to be careful with fake moves and as such, keeping a beady eye on the BOSS, should pay dividends.

The second chart of interest to me is the much talked about GBP/CHF....I think that from a pure DSRI standpoint all the action of the last couple of days is happening UNDER the broken demand line. See attached chart and make up your own mind...It also just so happens that all of this back and forth is happening at the .382 retracement of that last leg down from the 180'ish high.

I don’t like this pair at this time because all 3 time frames are in conflict. When they start falling into line with each other, I will be all over them “like a cheap suit”.

Now for something completely different (stolen from Monty Python!)

Since you are a former Professional Trader and now trading for your own personal account, what does the RSI tell you that eyeballing the chart doesn’t?

I’m not having a “go” at you, just respecting your “Professional Trading” status and trying to learn something that I may be missing.
15 YEARS OF PASR ON FOREX FACTORY!
  • #7,625
  • Nov 13, 2009 10:53am Nov 13, 2009 10:53am
Quoting Blackeagle
I couldn't write any better, thanks Lotus.

And Future, Lotus is right, you have too many lines. I am attaching my GBPUSD and EURGBP charts for you so that you can see what Lotus means. Re. EURGBP, I believe the data before 1999 is coming from Deutsche Mark, so I am ignoring that. Hope these two charts help you. If not, as always, ask.

Good Morning Everybody,

Thank you lotus & Blackeagle. a line chart is so much better then candle chart after zooming out.

I will start drawing my SR lines again
  • #7,626
  • Nov 13, 2009 11:11am Nov 13, 2009 11:11am
Quoting patrick25
Hi All,

Euraud update: this pair has made double bottom with strong bull candle on worker. Now let it proves it wants to go up, it has 500 pips to prove from bottom to first resistance 1.6500-50.
Hi All,

Perfect example in real time, "it keeps going down until it stops going down". I bet a lot of people have got fooled by that big candle but not Strat group.
Attached Image (click to enlarge)
Click to Enlarge Name: euraud11-12-09.gif Size: 10 KB
  • #7,627
  • Nov 13, 2009 11:12am Nov 13, 2009 11:12am
Quoting Keyser Soze
Guys, i've just read the post 405, with the merchent wanker and i've just made a connection

Maybe some of you are thinking that we are in 2009 and the big boys are not using MA and EMA anymore, that was in 97. Now they have something more powerful.

WRONG

After reading the post mentioned above, i've just remember that i read sometimes macro man's blog. Macro man is...
That explains why I'm not a Portfolio Manager then! I didn't understand a word he wrote!
15 YEARS OF PASR ON FOREX FACTORY!
  • #7,628
  • Nov 13, 2009 12:47pm Nov 13, 2009 12:47pm
Quoting mstandifer

  1. Because 1.0175 ish is major resistance
  2. You were only doing a counter trend ATM trade up to the worker and resistance.
  3. It tagged supply DSRI
  4. 20 is below the 50 and price did not penetrate it
  5. Confluence of all of the above at today's open
  6. Lastly...it's still going down

close?

  • #7,629
  • Nov 13, 2009 2:01pm Nov 13, 2009 2:01pm
Quoting Alexandra
I feel like I'm back in first grade again and finally drew my sticks and circles correctly. Best smiley face sticker I've had in over 35 years! There might be hope for me after all.
  • #7,630
  • Nov 13, 2009 3:10pm Nov 13, 2009 3:10pm
Can someone please tell me how to stop the small and impatient brain in my finger from placing market orders which are not in accordance to Strats methods.

I consciously STOPPED trading during my path to learning period, but in the last two weeks since I have positively entered my "Strats trading only" phase I have entered two trades that; luckily were winners but when I performed postmortems on them they were both poor entries off bond hammers that were clear to see after the fact.

I think that I have answered my own question while writing this - I already have a trading journal, but I will also write myself trading rules to check and follow before entering every trade.
  • #7,631
  • Nov 13, 2009 3:17pm Nov 13, 2009 3:17pm
Quoting cliftonarms
Can someone please tell me how to stop the small and impatient brain in my finger from placing market orders which are not in accordance to Strats methods.

I consciously STOPPED trading during my path to learning period, but in the last two weeks since I have positively entered my "Strats trading only" phase I have entered two trades that; luckily were winners but when I performed postmortems on them they were both poor entries off bond hammers that were clear to see after the fact.

I think that I have answered my own question while writing...
YOU are NOT in CONTROL of YOUR emotions. YOUR GREED emotion is CONTROLLING YOU!

FOCUS on the 95% that does the financial damage

Learn PATIENCE - "SEE" an OPPORTUNITY do NOT go "LOOKING" for a trade.

Learn DISCIPLINE - Follow YOUR rules

Failing that, AMPUTATE your finger!
15 YEARS OF PASR ON FOREX FACTORY!
  • #7,632
  • Nov 13, 2009 3:21pm Nov 13, 2009 3:21pm
THEFUTUREACE

What happened next?
Attached Image (click to enlarge)
Click to Enlarge Name: hanging man.gif Size: 29 KB
15 YEARS OF PASR ON FOREX FACTORY!
  • #7,633
  • Nov 13, 2009 3:43pm Nov 13, 2009 3:43pm
Quoting strat
YOU are NOT in CONTROL of YOUR emotions. YOUR GREED emotion is CONTROLLING YOU!

FOCUS on the 95% that does the financial damage

Learn PATIENCE - "SEE" an OPPORTUNITY do NOT go "LOOKING" for a trade.

Learn DISCIPLINE - Follow YOUR rules

Failing that, AMPUTATE your finger!

Thanks for the promt reply Strat....

I don't think that it is my greed as I have already decided that I am in for the long hall and not the "quickly quickly catchee monkey" approach.

I think it is because in every other professional endeavor that I have excelled in you must participate to succeed.. While with your method participation i.e. being in the market is not the fundamental requirement. Patience, observation and discipline are key, skills that I must learn in addition to PASR.
  • #7,634
  • Nov 13, 2009 3:49pm Nov 13, 2009 3:49pm
Quoting cliftonarms
Thanks for the promt reply Strat....

I don't think that it is my greed as I have already decided that I am in for the long hall and not the "quickly quickly catchee monkey" approach.

I think it is because in every other professional endeavor that I have excelled in you must participate to succeed.. While with your method participation i.e. being in the market is not the fundamental requirement. Patience, observation and discipline are key, skills that I must learn in addition to PASR.
Don't brush it off so lightly - you are UNDER ESTIMATING the POWER of the 95% - SERIOUSLY!
15 YEARS OF PASR ON FOREX FACTORY!
  • #7,635
  • Nov 13, 2009 3:56pm Nov 13, 2009 3:56pm
Still in SUPPLY - Sellers in CONTROL
Attached Image (click to enlarge)
Click to Enlarge Name: supply.gif Size: 27 KB
15 YEARS OF PASR ON FOREX FACTORY!
  • #7,636
  • Nov 13, 2009 5:11pm Nov 13, 2009 5:11pm
,
Quote
what does the RSI tell you that eyeballing the chart doesn’t?

You can shoot at me whenever you feel like it Strat as long as it is in the nature of making money.... I have had this indicator on my charts since my first trading job in 92'...its just an 8 period RSI with an 8 period MA of the RSI...after all these years it is just like putting on the same pair of worn out sneakers every Saturday morning....I do it because they are there...as for the RSI vs the RSI MA...sometimes it will let me have a forewarning when things have stretched too far away...you know the rubber band effect and it just lets me know to be looking out for those violent retracements after a vertical move

Many Pips
Plan, Prepare, Execute, Repeat
  • #7,637
  • Nov 13, 2009 9:53pm Nov 13, 2009 9:53pm
Strat,

Thanks for taking the time to answer my question about the Big Boss hammer on USDCAD and how it can be an indication of a potential trend change, but we need to watch price action and not jump to conclusions yet. Very helpful.
  • #7,638
  • Nov 13, 2009 10:11pm Nov 13, 2009 10:11pm
Quoting mstandifer
Regarding F12. It's very annoying to only be able to see the bars at the very far right of the screen...hard to see the wicks. Did you know...that you can use strategy tester and choose any EA (doesn't matter cuz we don't even see it), set the time frame to Daily, check the visual box and where it has the model drop down...just select open prices only. When you click start, the data appears where it does normally (about 3 inches from the right of the screen instead of all mashed up at the far right edge) and you can press F12 and it appears one...
Hi m,

I tried using an ea in the strategy tester like you describe here and it works very well. It's the best way to "f12" your way through a chart. You can see the candles better and set it to the speed you want so you have time to see where the SR levels are in relation to the new candle formation. Good practice tool. Thanks.

Dave
  • #7,639
  • Nov 14, 2009 2:48pm Nov 14, 2009 2:48pm
Quoting strat
THEFUTUREACE

What happened next?
price went up? like you and others say in the thread, the hanging man is not very reliable PA.

Also I remember reading ur example on gbpjpy where the Big guys purposely drew the prices down, taking off all the small guys around 95 and then taking the price back to 100.

sorry for taking so long to reply, I was reading the thread. still at page 125. the amount of information there is in this thread is incredible. I just dont want to scroll through it..i want to understand everything.

I am learning the most important thing in trading is being organized, patience and let the game come to you. Most important dont be greedy...which I was thats why i blew up my account.
  • #7,640
  • Nov 14, 2009 4:17pm Nov 14, 2009 4:17pm
Quoting TheFutureAce
price went up? like you and others say in the thread, the hanging man is not very reliable PA.

Also I remember reading ur example on gbpjpy where the Big guys purposely drew the prices down, taking off all the small guys around 95 and then taking the price back to 100.

sorry for taking so long to reply, I was reading the thread. still at page 125. the amount of information there is in this thread is incredible. I just dont want to scroll through it..i want to understand everything.

I am learning the most important thing in trading is being...
Speaking of patience, have you found the Holy Grail yet or are you still searching all the other threads looking for it like Oblo?
15 YEARS OF PASR ON FOREX FACTORY!
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