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  • #8,101
  • Nov 30, 2009 10:36am Nov 30, 2009 10:36am
Quoting strat
Thanksgiving Post...
Strat,

I would like to confess my inactivity and apologize for that (I probably posted 2-3 times). I am really new to this thing and took me a good while till I got to here on the thread. I did not mean to hang on here without contribution, it is just not too much time at the moment for me. Having said these, I would like to share this potential set up and perhaps discuss.

It is the UCAD, which is in a downtrend IMO. There is this daily bar as a potential set up. There does not seem to be much room underneath so I am in doubt. Still, this is a LH on the daily chart.

Attached Image (click to enlarge)
Click to Enlarge Name: MYVSA_090.gif Size: 23 KB
Kind Regards zol
  • #8,102
  • Edited 2:36pm Nov 30, 2009 11:06am | Edited 2:36pm
While the intentions of Donadoney were good, this whole idea grew way out of proportions. To do the analysis on 25 + pairs and the subsequent follow up after the Friday close would take up the whole of my, and others, week – end and, more than likely, into the following week. This is neither practical nor possible for any of us given that we are already devoting our precious time and information for free already.

Since NY closes at 4pm on Fridays, my end of week analysis for my trading for the coming week is usually complete by 4-30pm, leaving me the whole of the week-end free. The beauty about trading the longer time frames is the freedom and lifestyle it provides. I put on my trades after 5 pm NY time during the week and I have nothing to do until 5 pm the following day. During the week I choose to be involved on the thread in my quest to help others while at the same time “messing” with my cycles, momentum, other studies and research. I don’t need to do this; I can do anything I want. This is why my trading is STRESS FREE.

I also saw this as a back door to mentorship which would more than likely result in inferior mentoring. I have been asked many times to mentor students and, to meet my standards and demands, is impossible to do in the current format.

So that we can all retain our sanity and “stress free” life, I suggest we go back to the way we were before this recommendation where everyone comments and helps each other.

The lurkers, freeloaders and trolls problem is one which I seriously need to work on and address somehow.
15 YEARS OF PASR ON FOREX FACTORY!
  • #8,103
  • Nov 30, 2009 11:10am Nov 30, 2009 11:10am
Hi Strat.
I am sorry to hear that you have deleted your Thanksgiving post because of bad feedback from some idiot's who do not want to learn,I very rarely post I think this is only my second post.THIS YEAR I decided that I want to trade the Forex for a living.I have been reading you post for about three months now,I have read the index thread ,James 16.Jacko,and many others ,and I have learned more from your post than I have from thousands of pounds spent on seminar training course,books etc.
Please continue with you exccellent teaching,I only read the Thanksgiving post once and it gave me a lot of inspiration as that is the way I would like to trade eventually.STRESS FREE
MANY THANKS TO YOU AND YOU TEAM
DAS
A Learner
ps I will start posting more when I feel I have something to contribute.
  • #8,104
  • Nov 30, 2009 11:12am Nov 30, 2009 11:12am
Quoting zoli
Strat,

I would like to confess my inactivity and apologize for that (I probably posted 2-3 times). I am really new to this thing and took me a good while till I got to here on the thread. I did not mean to hang on here without contribution, it is just not too much time at the moment for me. Having said these, I would like to share this potential set up and perhaps discuss....
The BOSS and Worker are trapped in a coil which is nearing resolution. Trading on this pair should be avoided until resolution of the coil.
15 YEARS OF PASR ON FOREX FACTORY!
  • #8,105
  • Nov 30, 2009 11:35am Nov 30, 2009 11:35am
We made it clear that last week, as it usually is, will be a “thinly traded week”. The big boys were gone leaving only us and their understudies to “hold the fort”.

The “Dubai World” event made me smile as it smacked of perfect timing. The financial executives of Dubai World timed this to perfection. They knew it was a week without the big boys and therefore any “news” would be met with extreme market sentiment.



Without the big boys to balance the trading, they knew their announcement would trigger “domino type” sell offs in all the World Markets with the talking heads and financial analysts jumping on the band wagon to make things worse. Exactly what they wanted. As a result, the very rich financial infrastructure of Abu Dhabi was called upon to help them out and stabilize the World Markets. Perfect planning and timing.

As the big boys and therefore volume, return, the Markets will balance out and will stabilize at previous levels.

The “False” moves I warned of have been cancelled out and we need to see signs that the Markets have returned to some sense of normality.

The “thin” trading produced interesting candles to end the week and will have caught many newbie and “must trade” traders out. Hopefully this doesn’t include readers of this thread
15 YEARS OF PASR ON FOREX FACTORY!
  • #8,106
  • Nov 30, 2009 12:14pm Nov 30, 2009 12:14pm
With the exception of USDJPY, all the other JPY pairs threw out huge “hammer type” bars to support on Thursday, November 26. This is typical of a “one sided” market where the 2nd highest trading volume exchange (NY) is closed.

Without the balance of NY, Friday lacked direction and produced an IB as expected. In most cases, the IB was another hammer or hammer type bar.

Those traders who blindly follow “pin bars” will have recognized the “pin bar” and gone long above it or, as in some threads, within it, resulting in some red accounts.

Hopefully, readers of this thread knew different.

First, we knew that last week was NOT an ordinary trading week and therefore any trades should be done with caution.

Second, we expected abnormal volatility and to stay away from trading.

Third, we know to expect some type of reaction to such large candles.

Fourth, we know, or should know by now, which is the controlling candle.

Fifth, we know the power of the BOSS.

So, in addition to the Worker hammers, the BOSSES had hammers of their own. As explained previously, the BOSS hammer is THE controlling candle.

PRICE can oscillate ANYWHERE within the 600 – 700 pip range of the BOSS hammer without affecting its CONTROL. Until the BOSS hammer loses CONTROL (high or low exceeded), the Worker is directionless.
15 YEARS OF PASR ON FOREX FACTORY!
  • #8,107
  • Nov 30, 2009 12:26pm Nov 30, 2009 12:26pm
Quoting strat
The lurkers, freeloaders and trolls problem is one which I seriously need to work on and address somehow.
The only way to address it is by restricted access. Unfortunately I dont know if FF has this capability.
Trading = a mirror to your human flaws. Fix them or be fixed.
  • #8,108
  • Nov 30, 2009 12:31pm Nov 30, 2009 12:31pm
Quoting zoli
There does not seem to be much room underneath...
It looks like a triangle, could break out either way.

Quoting zoli
...so I am in doubt
There you go, if it isnt crystal clear always stay out.
Trading = a mirror to your human flaws. Fix them or be fixed.
  • #8,109
  • Nov 30, 2009 1:14pm Nov 30, 2009 1:14pm
Hi there,

I just wanted to know if somebody uses a checklist before taking the trades.
  • #8,110
  • Nov 30, 2009 1:19pm Nov 30, 2009 1:19pm
Hello Strat & Naws

Can I kindly ask to be included as a member on the path of learning.

As you will note, I have only just signed up with FF - however, I had the golden fortune of stumbling onto this thread in late February after post #4 and immediately added to my favourites, and have religiously followed you every evening ( sorry for the lurking ).
Let me apologise firstly, for not posting before this - but life sometimes gets in the way. I run an engineering business, and simply have not had time between studying fx and work.
My background - I have been trading for over 3 years now ( that should read blowing up accounts for over 3 years now....). Tried everything from macd to rsi to cci....blew up one account on this "guaranteed" EA....followed endless threads - trend follower 5 minute system, london open, ema crossover, jacko's thread, james 16....Finally decided to stop trading & study this business at the end of last year. So, first thing I decided on was to get me a mentor - so I joined Jacko's group and started my education.
I could never get it all to "click" for me - until you and your group of trainers put it all in place on this thread.
So, in September, I started to trade again ( micro lots this time...) and lo & behold - this stuff really works. My little account has grown over 10% in 3 months. This is purely thanks to you and this wonderful team here.
Hopefully, I can also give something back for the work you are doing on here - and contribute to the thread in some way.

OK - enough rambling.....
  • #8,111
  • Nov 30, 2009 2:27pm Nov 30, 2009 2:27pm
Quoting Sinan
Those bars on Thursday/Friday when everyone was on holiday and volumes dropped really impacted the picture. The buyers looked in control before the "wobble" with a higher swing low...have the Thursday/Friday bars really effected the buyers/sellers? Did the news from Dubai? I would think we need to exclude them and look to Wednesday's close of where we will pick up....or should we say this was a significant event and these moves have impacted the technical picture?
Yes, this news really made the market move but a knee-jerk will stabilise in time. Its time to wait.

Many thankshttp://cdn.forexfactory.com/images/icons/icon7.gif
Jideck
  • #8,112
  • Nov 30, 2009 2:37pm Nov 30, 2009 2:37pm
Quoting Activer
I had start to read this thread from the first post.

The progress is very slowing then your image, but I still keep going.

Because I'm pool in English, Reading ONE page takes me nearly ONE hour.

The biggest problem is that I can not fully understand some post.

Sometimes maybe got a misunderstanding.

So I wondered if someone can give me a hand , type some clue or some advice.
I will gladly help you. It would be great if you have skype and a microphone. Install team viewer (google it), it's free. Like this, we can discuss with the chart in front of us before the close of NY.

Send me your personal details on a PM

Regards,

KS

Pls notice that i'm on my path @ page 130
  • #8,113
  • Nov 30, 2009 5:02pm Nov 30, 2009 5:02pm
Quoting strat
Thanksgiving Post

I have deleted my Thanksgiving Post due to abuse from the lurkers, free loaders and trolls that frequent these forums.
Strat, I am sorry to hear this. This is the most honest thread i have come across and it would be a shame if you decide to pull the plug on this one.

I have been trading for last 3 yrs (Crude, Gold, Silver, FX, Equities, Indices) with little success. I might have just been flipping a coin than using useless indicators. This thread has completely changed the way I used to think about trading. As there are good forces, so are bad. Please don't be discouraged by these lurkers or negative comments, they are useless and like most participants on this thread I would be ignoring them.

I am still reading this thread and want to be in the path of learning.

The following line sums up how i used to trade in the past:

"For when i thought I could see, I was blind.
  • #8,114
  • Nov 30, 2009 5:31pm Nov 30, 2009 5:31pm
Quoting strat
PRICE can oscillate ANYWHERE within the 600 – 700 pip range of the BOSS hammer without affecting its CONTROL. Until the BOSS hammer loses CONTROL (high or low exceeded), the Worker is directionless.
Thanks for clearing that up. So if I understand this correctly, a boss hammer can be used to determine a new trend if the the high is exceeded. As the hammer would then establish a low (if it is indeed a true hammer). Also, it is best to avoid trades until the boss hammer loses control either way?
  • #8,115
  • Nov 30, 2009 6:14pm Nov 30, 2009 6:14pm
A nice shooting star on the monthly gbpusd chart. It has a long wick and the body of hammer is within the eye of the last candle.

The 20ema acted as a Resistance on a monthly chart.
  • #8,116
  • Nov 30, 2009 6:52pm Nov 30, 2009 6:52pm
"There is a wealth of information on these pages now and latecomers to the thread are constantly being asked to read the entire thread before asking questions that clearly highlight the lack of work on their part by not reading from Page 1."

Grim
I don't know how Strat defines the lurkers,freeloaders and vermin's but the mere fact that newcomers are encouraged to start at page 1 means that there will always be a lot of readers on this thread who are not ready to contribute and as the word spread about the wonderful gems on offer here there will be lots more flocking to read.Many will fall by the wayside but the truly dedicated will persevere.Strat I offer you my gratitude for your time, experience and efforts but as this thread grows exponentially it is taking us much longer catch up on the reading so what many may consider lurkers are actually readers following the instructions to start from page 1.So do not be discouraged by the number of non contributors, it is indeed a testament to the value of the information you have provided that so many are coming. We do intend to contribute but I for one do not intend to ask silly questions that have already been answered in previous posts.I see a few posts here of guys who feel compelled to introduce themselves because they do not want to be labeled a lurker.For selfish reasons I don't like these posts as it adds to my reading list and does not contribute my eduction on price action. Anyway as we progress along the path I hope the senior members will continue to address the newbie questions and allow Strat to provide the guiding hand he has so willing proffered.
  • #8,117
  • Nov 30, 2009 8:08pm Nov 30, 2009 8:08pm
Strat

Well lurker ,troll , no matter been called alot worse.Not everyone will put pen to paper ,a wise man knows when to keep his gub ( irish for mouth ) shut.
That does not mean we are not appreciating or learning.I am because i dont over trade any more even if i am still at my day job.Progress will come with your help and i certainly wont bother you with inane comments.
Keep up the efforts,they are certainly not wasted.

Gerard
  • #8,118
  • Nov 30, 2009 8:19pm Nov 30, 2009 8:19pm
Attention all lurkers!

I encourage anyone that is just reading along to ask questions and take part in the discussion. There are a lot of good people here who get satisfaction in helping you succeed.

Sometimes I feel like I'm a lurker even though I check my charts every day and review what everyone has written. I'm always looking for PASR but I don't see anything to trade on my charts for days or sometimes weeks. I wish I had more to add to the thread that would help someone but I hardly ever have anything worthwhile that would help new people learn. As I progress on the path of learning that will surely change. But for now I ask questions -- and I get help.

Some of the people lurking are probably nervous about asking some questions or posting a setup that looks good to them because they are afraid of looking foolish. If that's you, then I'm letting you know now that you can't think of a question that is too dumb to ask. Just go ahead.

Don't be shy. It's better to learn here than to learn it all in the school of hard knocks. Then someday, when you are an expert you will get to return the favor to some learners who need your help too.

Dave
  • #8,119
  • Edited 9:56pm Nov 30, 2009 8:58pm | Edited 9:56pm
BoJ have called an emergency meeting for 2PM JPY time. They might have had enough of the yen at these levels. Anyway just the talk has got some buying interest going in USDJPY
If you are short any XXXJPY's take care.

Edit - added news link: http://bloomberg.com/apps/news?pid=2...d=a0UHaYFupBAE
The meeting is 5AM GMT, It wont be on FF calendar.

More here: http://www.bloomberg.com/apps/news?p...tLSXtiWE&pos=1
  • #8,120
  • Nov 30, 2009 9:17pm Nov 30, 2009 9:17pm
Quoting elitejets
BoJ have called an emergency meeting for 2PM JPY time. They might have had enough of the yen at these levels. Anyway just the talk has got some buying interest going in USDJPY
If you are short any XXXJPY's take care.
...and comments are if any additional monetary easing measures are announced after the meeting, that would help for further JPY weakness. As you can see, there are many ways to intervene (not only directly) and it is always good to know Central Banks' intentions. Example: just check your EURCHF chart.

Thanks for the notice.
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