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  • #8,141
  • Dec 1, 2009 7:22pm Dec 1, 2009 7:22pm
Quoting pipfx
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?
For the safest, lowest risk, yes.
15 YEARS OF PASR ON FOREX FACTORY!
  • #8,142
  • Dec 1, 2009 7:23pm Dec 1, 2009 7:23pm
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....
forget vsa - there is no volume in forex!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
15 YEARS OF PASR ON FOREX FACTORY!
  • #8,143
  • Edited 7:57pm Dec 1, 2009 7:37pm | Edited 7:57pm
http://i138.photobucket.com/albums/q...y/Untitled.jpg

strat i got a question about this trade....had i done wrong?

1.it stopped below 20 and 50 and the first trend line(26 nov) and going down to the support(27 nov) zone.and it come out with a evening star on 29 nov but i still wait for this trade because the volume is still low. on 30 nov the volume increase and it is a downtrend so i take this trade on 30 nov short.
2.but i failed this trade because on 2 dec the trade goes back to the minor resistance line.

question
1.did i wrongly draw the trend line and estimate it wrongly because i though on 29nov is a evening star? and on 30 nov the volume increase and supply is more than demand?
2.or because the boss tell us that it touch the minor weekly support line and going up so not suitable for this trade?

first time estimate the trend and failed.....confidence low. please correct me if i done anything wrongly with this trade.

english is not my main language.if you cant understand pls try to by reading few more times...lolz

mail me if u can(working)....or i will find the reply later from this threads

email:[email protected]

very appreciated for reply on this
  • #8,144
  • Dec 1, 2009 8:12pm Dec 1, 2009 8:12pm
Quoting babypips
http://i138.photobucket.com/albums/q...y/Untitled.jpg

strat i got a question about this trade....had...
I am by no means Strat, but here are my thoughts:

First of all if you haven't already start reading from the beginning of this thread because you will see Strat no longer uses volume on his charts as it provides no meaningful data.

Your support level is a very minor level. Also, there was no clear PA at the support level which would give you the signal to go short. I think your entry was a little late and you may be trying to make a trade rather than looking for a safe entry point. As a a beginner like myself try to focus on the basics, hammers, SS, BUOB, BEOB. Patters leave more to interpretation and therefore are harder to trade.

You also drew your DSRI lines using the wicks of the candle, I am pretty sure based on the teachings here he uses the close of the candles. (I am not certain on this).
  • #8,145
  • Dec 1, 2009 8:13pm Dec 1, 2009 8:13pm
Quoting jacanpipster
[font=Arial]"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...
You make a very valid comment.

The lurkers, free loaders and trolls I refer to, know who they are. They are the people who are totally lost in their trading and, probably their lives. They hop from one forum to another, from one thread to another, from one system to another, from one thread to another constantly looking for the Holy Grail.

They try one system/method and as soon as they have a losing trade, they move on to another search for “something better”. They do not spend the time to study, learn, practice and become proficient in any one method – they just blindly flit from one system/method/forum/thread to another in their ever elusive search for the Holy Grail without work.

((Most systems/methods will work if you spend the time to learn, study and practice them. I have several systems/methods which all work in various time frames. Yes, I get losers but I stick with the system because I know, over time, my systems and methods work. Losers are just interruptions in a speech or the spelling mistakes in a sentence – they do not affect the outcome.))

They are also the ones that appear “out of the blue” asking for confirmation or comments on their potential trades as if we were an advisory service.

I see these people on every thread going in FF – they know nothing yet they always have a lot to say. They are pretenders and fools to themselves.

I do not consider those on the thread that are learning quietly in the back ground as lurkers. These are students who hopefully will become serious. As some have done, they need to introduce themselves on the thread and register with Naws.

I do believe we need some sort of filter to separate the serious students from the casual on looker, wannabe trader and “look at me, I’m a trader now” types. Unfortunately, the best filter is not allowed in FF.

I sympathise with those joining the thread from this point on. Yes, there is a lot of reading and UNDERSTANDING to be done but there is no way around this – absolutely NO SHORTCUTS. They have to start at the beginning – even those that think they know it all.

That’s another thing that pisses me off with the lurker crowd in that they come on the thread with their stupid posts pretending they know everything whereas in fact they know next to nothing. The only thing keeping them afloat is their highly inflated egos.

Using a mathematics analogy to describe The Path of Learning, it will take and advance the SERIOUS student from simple sums to advanced calculus. You have to be able to add 1 + 1 before you can attempt the differentiation of abxcubed + cdysquared – xyzquintupled = sqrt21psm/37vgj.

As has happened on this thread with many students, they have learned basic sums and thought they knew it all and then wandered off into the dark oblivion of forex trading only to be handed their asses on a silver platter. It takes practice, practice and practice and when you think you know it, it takes more and more practice, practice and practice.

You probably won’t believe it, but I spend hours per week going through pairs I don’t have a trade with just to practice and simulate trades. I also spend hours on those pairs I have traded to see if I have missed anything or mis-read the market or to identify areas and weaknesses I need to improve on.

Trading is a very serious business where only those with determination, perseverance, dedication and patience will prosper. It is not a place for the casual on looker, pretend trader or ego bent “look at me I’m a trader now” people.

Again, I have no time for the pretenders.
15 YEARS OF PASR ON FOREX FACTORY!
  • #8,146
  • Dec 1, 2009 8:23pm Dec 1, 2009 8:23pm
Quoting babypips
http://i138.photobucket.com/albums/q...y/Untitled.jpg

strat i got a question about this trade....had...
All your comments, especially those on volume, tell me you have not read and UNDERSTOOD what is being taught on this thread. You need to go back to the beginning and read and UNDERSTAND each and every single post before attempting any further trades.

Further more, if you had any commn sense or forex knowledge, you would not be trading THE BEAST.
15 YEARS OF PASR ON FOREX FACTORY!
  • #8,147
  • Dec 1, 2009 8:36pm Dec 1, 2009 8:36pm
Quoting LarryK
attached is my daily USDCAD chart at 14.00gmt

am I missing something important.
Yes, the BOSS! Never forget the BOSS. Never ever take a trade without consulting the BOSS. If the BOSS doesn't know - ask the BIG BOSS.

If you don't know the answer from the BOSS then you have not UNDERSTOOD the thread.
15 YEARS OF PASR ON FOREX FACTORY!
  • #8,148
  • Dec 1, 2009 9:52pm Dec 1, 2009 9:52pm
Quoting PipMobile
Phew, another example of don't trade against the trend.

On another note, an hour or so for candle to close on the USD/CHF, BEOB seems to be forming.

Am i reading it right? However candle low bounced of resistance at .9970.

Harman
Hi Harmanhttp://cdn.forexfactory.com/images/icons/icon7.gif

If you look at Big Boss, Boss and Worker on USDCHF they all point in one direction, good entry was day before yesterday close. It is still moving down.
However I have a major support at 0.9921 so I am not selling into Support now, wait for strong close below that level.

Happy tradinghttp://cdn.forexfactory.com/images/icons/icon14.gif
Jideck
  • #8,149
  • Dec 1, 2009 10:13pm Dec 1, 2009 10:13pm
Hi All,

Some of the JPY pairs are climbing back to pre dubai level. Today price action will be interesting.
  • #8,150
  • Dec 1, 2009 10:15pm Dec 1, 2009 10:15pm
Quoting Jideck
Hi Harmanhttp://cdn.forexfactory.com/images/icons/icon7.gif

If you look at Big Boss, Boss and Worker on USDCHF they all point in one direction, good entry was day before yesterday close. It is still moving down.
However I have a major support at 0.9921 so I am not selling into Support now, wait for strong close below that level.

Happy tradinghttp://cdn.forexfactory.com/images/icons/icon14.gif
Jideck
I would have preferred to enter on close of 27/11 when that lovely Pin Bar formed. Also I am not planning to trade it today. Just did my trade check list which i normally do before entering a trade and realised we have NFP's tonight. No wonder none of the USD crosses moved during the asian session. NFP's are evil, pure evil!
  • #8,151
  • Dec 1, 2009 10:21pm Dec 1, 2009 10:21pm
Quoting Jideck
Hi Harmanhttp://cdn.forexfactory.com/images/icons/icon7.gif

If you look at Big Boss, Boss and Worker on USDCHF they all point in one direction, good entry was day before yesterday close. It is still moving down.
However I have a major support at 0.9921 so I am not selling into Support now, wait for strong close below that level.

Happy tradinghttp://cdn.forexfactory.com/images/icons/icon14.gif
Jideck
I am looking at EURUSD right now which is similar

I am liking a long right now because price seems to be sustaining the uptrend

we had a hammer on support two days ago and a BUEB today supported by the 20, it just looks like price is nicely supported at this level with the ma's the TL and horizontal support
  • #8,152
  • Dec 1, 2009 10:22pm Dec 1, 2009 10:22pm
Quoting PipMobile
... and realised we have NFP's tonight.
NFP is on Friday. Today is Wednesday
  • #8,153
  • Dec 1, 2009 10:43pm Dec 1, 2009 10:43pm
Quoting Blackeagle
NFP is on Friday. Today is Wednesday
And that is true. Can’t believe I confused the ADP Non Farm with NFP’s.

No trades for me.
  • #8,154
  • Dec 1, 2009 11:05pm Dec 1, 2009 11:05pm
Quoting strat
Yes, the BOSS! Never forget the BOSS. Never ever take a trade without consulting the BOSS. If the BOSS doesn't know - ask the BIG BOSS.

If you don't know the answer from the BOSS then you have not UNDERSTOOD the thread.
Thank you for looking at my analysis, although I do not say anything about the BOSS and BIG BOSS, they were both consulted and I saw nothing there to put me off considering this as a possible trade in the direction of the trend. The only thing against it was a rather poor RR and that I could have considered an entry from that nice spike high a day or 2 earlier.

I hope to continue to bounce my possible trades off the thread members for comment which always seems to be positive specially when I am wrong.

Thank you also to those others who took the time to post

Larry
  • #8,155
  • Dec 1, 2009 11:58pm Dec 1, 2009 11:58pm
does anybody know a quick way to find a particular post number, other than to try by guesstimating its location on a page

thank you

Larry
  • #8,156
  • Dec 2, 2009 12:14am Dec 2, 2009 12:14am
Quoting LarryK
does anybody know a quick way to find a particular post number, other than to try by guesstimating its location on a page

thank you

Larry

If you know some key words in the post your looking for you can search just the thread.

see pic below
Attached Image (click to enlarge)
Click to Enlarge Name: 2009-12-02_0012.png Size: 29 KB
  • #8,157
  • Dec 2, 2009 1:48am Dec 2, 2009 1:48am
Quoting strat
there is no volume in forex!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Strat, I think you put the volumes on some charts in the thread as a marker to see where your students are on The Path Brilliant!
People with volumes on charts are probably at pages 40-60. I've been there too
  • #8,158
  • Dec 2, 2009 2:21am Dec 2, 2009 2:21am
Quoting hcristea
Strat, I think you put the volumes on some charts in the thread as a marker to see where your students are on The Path Brilliant!
People with volumes on charts are probably at pages 40-60. I've been there too

Thats right matey. Things have changed a wee bit. PA is boss.
  • #8,159
  • Dec 2, 2009 8:44am Dec 2, 2009 8:44am
hellou Naws,i read Strats post number 8145,becouse i really want to be part of this team , i ask you ,how i can register to it.(sorry my poor english) regards juha
  • #8,160
  • Dec 2, 2009 9:09am Dec 2, 2009 9:09am
You may recall from one of my earlier posts where I showed how you can make F12 behave as if it were real time. But if you start from the very beginning of a pair's history you have nothing to base SR on for drawing lines.

Here's what I do:
Simply go to one of your pairs that already has all of your SR lines on it along with your 'Strat Daily' (that's what I call the 20/50/100/250 MAs) MAs and save that entire chart as a new template...i.e. AUDCHF SR Daily.

After you fire up strategy tester, hit pause and load your new template. That way, as your bars emerge you will already have your SR lines drawn. Granted it might be a little like seeing the future but only the first time price interacts with that SR.

**For those that missed how to properly use F12 for training do this:

"normal F12 only shows the bars at the far right hand of the screen. To have it work just like it were live, open strategy tester in MT4.
Select any of the default EA's. It doesn't matter which because we aren't interested in the results.

From the model drop down box, choose 'Open prices only'.

Check the 'visual' box and make sure the 'use date range' box is NOT checked.

Move the slider bar all the way to the left and click start.

Once the chart appears, click pause and load your template. You will note that bars now appear about 3 inches from the right side of the screen just like they do real time. Pressing F12 works as normal.
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