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  • #8,041
  • Nov 27, 2009 8:08pm Nov 27, 2009 8:08pm
Quoting Lou
I knew this type of reply would surface. I would like to point out more correct thinking.

The question not answered (but vitally important) in the above post, is what to do when the learner's chart PA is not the same as the instructor's. An effective instructor would go to the learner and show him/her what needs to be done on the learner's chart. What good is it for an instructor to say... well, I do not see that pattern on MY charts...so it does not exist.
Really?

Now now, Lou. Easy brother. I'm not so bold as to tell someone my thinking is more correct than theirs, especially in bold type, eh?. What if I were mistaken? Instead, I believe I would simply suggest our view points differ.

Having been a teacher for a number of years, I speak with some authority on classroom instruction and the benefits of platform commonality.

Your viewpoint is sound, but how would that be any different from how we are doing it right now? Everyone doing their own thing with no common point of reference (chart wise)...and that's what you have to have, a common point of reference.

Now, with that said, it doesn't matter to me how we end up doing this, I was simply putting in my suggestion. When it's all said and done I'll go with the flow.

-m
  • #8,042
  • Nov 27, 2009 8:19pm Nov 27, 2009 8:19pm
Hi all,

I would love to contribute in the exercise, I am not lurking but working through this thread and taking my time to absorb it all. This is exactly the way of trading I have been looking for and I hope not to miss out on what will be a great educational experience.

If members are prepared to accept a beginners input I would love to be a part of this and will accept any pair left...provided we don't argue about charts. I think Strats idea for members to post their charts and use those as the frame of reference as has been done on this thread to date is the best.

Yours,

FE
  • #8,043
  • Nov 27, 2009 8:31pm Nov 27, 2009 8:31pm
This will be short and to the point (or rather 2 bites of crow I believe):

AUDCHF - short version is that it was stopped out. Why? See http://www.forexfactory.com/showpost...postcount=7886
or it could just be holiday volatility. Main point is, I should not have entered the trade and it was poorly evaluated from the beginning. Lesson learned.

USDCAD - definitely holiday volitility and I was stopped out. I still think it's bound for 1.0300 but that's how it goes. Next trade. Lesson here was, I was trying to get in on something where the entry point had already passed. Wait on the right time. There will be other opportunities, if I miss this one.

Looking forward to our new exercises.

-m
  • #8,044
  • Nov 27, 2009 8:38pm Nov 27, 2009 8:38pm
Hi all, I have just read up to page 140. These posts have so much to offer , and I can't help spending most of my time reading them, and pulled up the chart relevant to the post so I can truely understand. I would like to understand the PASR more and like to be a part of you guys new idea. I wonder I know enough to really take on one pair if there is one left.

By the way, Strat, thank you for taking your time constructing the recent post showing us how to apply Price Action on the SR and the 20, and 50. They are priceless trading experience a professional trader can share with us. Just can't say thank enough for sharing so generouly.

Fuman
  • #8,045
  • Edited 8:46pm Nov 27, 2009 8:43pm | Edited 8:46pm
Quoting mstandifer
Really?

Now now, Lou....
Good to see that you have been a teacher. It does matter to me that this is done from the standpoint of the learner. It is better to use the learner's platform for the reasons I stated above.

My viewpoint is that of a teacher and a teacher of teachers, for 38 years. Still teaching. Still current.
  • #8,046
  • Nov 27, 2009 9:19pm Nov 27, 2009 9:19pm
this is my 3rd post on this forum, my earlier posts have been questions and they were answered very well then.I am basically a 4hour time frame trader and thats why i have not really been adding to this thread but the few things i have learnt here especially drawing DSRI has helped me a lot.I am basically a PASR trader but have a lil different style i use but all the same,this is a great thread, you guys keep up the good work. I wish you all many green pips in the coming week.







Always do what the market is doing
  • #8,047
  • Nov 27, 2009 9:41pm Nov 27, 2009 9:41pm
Hello mstandifer,

I want to let you know that I have no animosity toward you. Sorry if it looked like that. I am just very passionate on how we should be 'taught'. Since the offer has been made, a great offer and very unique, I simply want everyone to get the most out of it. I think that we have an opportunity for comments be very individualized and to the point. I just don't want anyone to miss out on that.

Sincerely,

Lou
  • #8,048
  • Nov 27, 2009 9:53pm Nov 27, 2009 9:53pm
Lou, no apology necessary...and certainly no explanations. I have tremendous respect for members such as yourself that have been around for so long and have so much to offer. I share your passion on this topic and your viewpoint on individual instruction. After all, I'm one of those that would benefit the most.
  • #8,049
  • Nov 27, 2009 11:06pm Nov 27, 2009 11:06pm
Very frustrating but I cannot edit my last post.

I would like to take EURNZD if it has not been allocated already. PM sent to Donadoney.


Yours,

FE
  • #8,050
  • Nov 27, 2009 11:12pm Nov 27, 2009 11:12pm
Quoting strat
Talk about getting yer wellies out - I'm filling all the ones I can find!

Yes - I am in - again! It listened to Nicola; now it is free to listen to reason!
  • #8,051
  • Edited Nov 28, 2009 9:16am Nov 27, 2009 11:28pm | Edited Nov 28, 2009 9:16am
Quoting forexample
Very frustrating but I cannot edit my last post.

I would like to take EURNZD if it has not been allocated already. PM sent to Donadoney.


Yours,

FE
I have had trouble with editing in the past too. I don't know if what I do is completely necessary but here is what now works for me.
1. press the edit button
2. enter the new info into the small window that pops up.
3. leave the cursor in the window after the last letter.
4. hit ENTER on the keyboard. (no visible change)
5. move the cursor over to the button SAVE and left click.
Maybe some of those moves are unnecessary ...if so, I too would like to know.
  • #8,052
  • Nov 27, 2009 11:33pm Nov 27, 2009 11:33pm
Patrick25

Please check you private messages.

Thanks.
  • #8,053
  • Nov 28, 2009 5:19am Nov 28, 2009 5:19am
Quoting Alexandra
Yes - I am in - again! It listened to Nicola; now it is free to listen to reason!
what seriously? It just broke through strong support ending any double bottom we had. The price keeps moving lower and lower, yet you are always saying you are buying. Can you please explain because I don't understand.
  • #8,054
  • Nov 28, 2009 6:16am Nov 28, 2009 6:16am
Quoting Naws
what seriously? It just broke through strong support ending any double bottom we had. The price keeps moving lower and lower, yet you are always saying you are buying. Can you please explain because I don't understand.
The next S on my chart is the Monthly at 84.30 from March 1995 when it closed at that level. The Low for that month was 79.75!! Is nearly 15 years too far back to go??

PA on the Weekly is 'hammerish' and on the Daily it is a VERY indecisive blue doji/dragonfly - on my chart anyway.

Are you sure this isn't a case of 'its gone down so far, it surely must come up?'

I can see that there might be a case for putting in an OTO above 87.5 say and I am tempted, but ...... volatility is high. Maybe a Buy above Weds candle at 88.62......... ummmmmm??????
Attached Image (click to enlarge)
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  • #8,055
  • Nov 28, 2009 6:22am Nov 28, 2009 6:22am
This chart shows S line from 1995!
Attached Image (click to enlarge)
Click to Enlarge Name: usdjpy.d.28.11.2009.gif Size: 20 KB
  • #8,056
  • Nov 28, 2009 10:00am Nov 28, 2009 10:00am
Quoting Donadoney
Please review Mstandifer's post #7886. It is SHORT (we have a lot of requests), well organized and covers the essentials. I think this is a potentially good format for the exercise. Please let me know what you think by PMing me.

next is the list:

Crudecraig - USDCAD
Mstandifer - AUDCHF
Jideck - AUD/USD
Keyser Soze - EUR/USD
Naws - EUR/GBP
Lou - NZD/USD
Soso - GBPUSD
hcristea - Gold
Grimweasel - Index of Choice (Snp500?) and CAD/JPY
Lotusleanman - USD/CHF
Sinan - EUR/JPY
Spinner - EUR/AUD
LarryK - GBP/JPY
eliteljets - Crude and $usd index
Donadoney...
25 pairs and still counting!

Who is going to have the time to analyse all these?
15 YEARS OF PASR ON FOREX FACTORY!
  • #8,057
  • Nov 28, 2009 10:53am Nov 28, 2009 10:53am
If indeed those are too many. How about taking one pair from each grouping of:

Eur/ ___

Gbp/ ___

___/Usd

___/Jpy

___/Chf

one of the Commodity Pairs: Aud/Usd, Nzd/Usd, Cad/Usd

a commodity

This cuts the list in half at least.
  • #8,058
  • Nov 28, 2009 11:02am Nov 28, 2009 11:02am
Quoting Naws
what seriously? It just broke through strong support ending any double bottom we had. The price keeps moving lower and lower, yet you are always saying you are buying. Can you please explain because I don't understand.

It's been very choppy, so there is room on both sides. It highlights the idea that one can make money on both sides of the market if one is disciplined. This may be a technical low achieved in thin market conditions and rejected on Frday, but overall that market is basically where it was a year ago.

For my purposes, as stated long ago, I am awaiting a decline in the Yen to begin so that I can simply hold my position, as done with the EURUSD and the commodity markets. To date, however, I am left stubbing my toe to some extent each time, but the volitility has been protective. It highlights the need for appropriate entries based on PA with subsequent confirmation and lack of greed. Other markets have bourne the brunt of profits, leaving me free to frustrate myself with my ill-timed fundamanetal view of the Yen. Eventually, however, that market will take over again (as it did on the buy side during the economic tumult) so that I can pursue other frustrations.

Importantly, as I have noted all along, USDJPY has been a technical short all along. Mine is a value play, as Strat understands. The monthly trade from April is the one carying the day still, and worth learning from and respecting until another formation is confirmed.
  • #8,059
  • Nov 28, 2009 11:22am Nov 28, 2009 11:22am
can anyone suggest a good book on price action??
  • #8,060
  • Nov 28, 2009 12:16pm Nov 28, 2009 12:16pm
Quoting ns_karthik
can anyone suggest a good book on price action??
Martin Pring on Price Patterns. Library might have it if you are in a metro area or near a University.
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