Strat's Long Term Stress Free Trading

Read Post #8699

It also says it on the chart

You need to stop doing the things that are making you blind!

..but can anyone tell us what the chart is of please?

Fat line at 1.76

Currency pair?

Merry Christmas to all.

Read Post #8699

It also says it on the chart

You need to stop doing the things that are making you blind!

I thought maybe Spinner was posting to highlight the similarity in the charts?
As Alexandra mentioned a while back, she's had good results using the CHF as a leading technical indicator.

I have been reading for a month or so still not caught up in the thread so if this is a stupid question then oops. Anywho am i correct in having a resistance line on gbpcad at 1.6730. If so how far past the line is a confirmed break to make a stress free trade.

Not much in them really, except when USDCHF starts playing silly buggers (mainly due to SNB intervention), $USD is sometimes more reliable.

yes agreed , doesn't seem much between them.
As an aside, i'm looking at NZ/Usd for the new year and would welcome your take.
There's a lot of hulabaloo about shorting this pair at the moment.
On the Big Boss, I don't think i've seen 2 consecutive shooting -star type bars like that before, it seems unusual.
On the Boss, it's looking to close below the 20, and it's making Lh and LL.
On the Daily, we have an ib, below all ma's, but i'd like a close below my down TL drawn, and below 0.7050.
I favour it short, in fact a strong close below 0.7000 would draw me in.
Your thoughts are as always appreciated.

As an aside, i'm looking at NZ/Usd for the new year and would welcome your take.
There's a lot of hulabaloo about shorting this pair at the moment.

I don’t read or listen to talking heads but if that’s what they’re saying it usually means the big boys are positioned opposite!

On the Big Boss, I don't think I’ve seen 2 consecutive shooting -star type bars like that before, it seems unusual.

Consecutive shooting stars while not common are not unusual and happen a number of times across the time frames.

They are telling you the buyers are not prepared to give up without a fight and the sellers do not have the clout (yet) to drive price down.

Be careful, the BIG BOSS is already resting on strong support at 0.7035


On the Boss, it's looking to close below the 20, and it's making Lh and LL.

Don’t rely too much on this week’s technicals as they are badly distorted due to low liquidity and volume but more especially because the big boys have left the building.

The BOSS has strong support at 0.7000. Look to the left in 2007

On the Daily, we have an ib, below all ma's, but i'd like a close below my down TL drawn, and below 0.7050.
I favour it short, in fact a strong close below 0.7000 would draw me in.

The Worker has also found support on previous Worker support at 0.7000.

The Worker is almost near enough 50% fib to call it confluence with support

but i'd like a close below my down TL drawn,

I don’t understand this. PRICE is already below this TL.

My summary is this:

First, I need to see what the big boys do across all the pairs when they come back. Since I’m not addicted to trading, and with the # 1 rule in mind, I will wait for the 2nd week in January 2010 before I initiate any new trades. If this means I miss out on some good moves so be it, there will be plenty of others and at less risk.

Second, I need to see how USDCHF or $USD behaves at the fat line as this will give us direction on the USD pairs.

Third, if you really must trade and, looking through my foggy crystal ball, and remembering I am about as good at forecasting as the English weather forecasters are, I think the Worker will retrace back to maybe 0.7175ish where the TL and BIG BOSS and BOSS trends will kick in again and take PRICE down to 0.6875ish

However, all this goes out of the window if the big boys feel they have been “screwed” while they’ve been gone.

Fourth, if you are really desperate to trade, there are pairs better positioned than this. Are you in love with NZDUSD?

Same technique...different day. USDCHF remains a crystal ball of sorts. The brakes were on at yesterday's close with the inability of USDCHF to confirm the highs (corresponding to the lows on EURUSD). Overall it helps the case for EURJPY, as discussed previously.

I wish everyone a great Holiday Season and a healthy and prosperous New Year.

All the best.

Blackeagle

Just wanted to wish each of you a very Merry Christmas from Texas!



Marto

Thank Strat and everyone for your great efforts. Wish you all a merry Christmas and a happy ,properous new year.

Fuman

As we enter the big holiday season, I just wanted to wish you all Happy Holidays, Merry Christmas, and HappyNew Year.
I also wanted to say "Thank You" all and everyone for contributing as I have leared more in months than I had in previous years.
My main goal for next year is to continue learning and to contribute more as my confidnce grows and to support you in our quest for becoming independent stress free traders with PASR.

Hi,

Very Merry Christmas & Happy Holiday & wishes for prosperous New Year to everyone on this great thread.

After all these months of following along & finally finding The Path, I feel I know each and everyone of you. I'm looking forward to continue down The Path and enjoy its fruits of wisdom...and I look forward to doing so with all of you. I want to express my best wishes to all of you. Happy & safe Holiday to all.

Peter O
Closet Lurker &
Disciple of the Path

Right, come this special time of the year I would like, from this humble corner of the world, to thank all Central Banks, Investment banks, hedge funds, equity funds, Brokers, big traders and specially to Chairmans Trichet and Bernanke for moving the markets like wild broncos.

And I specially want to thank Start for stitching together a saddle with good stirrups and a bridle with strong reins so we can ride it and make profits!!

Spinner

Anywho?

Anywho? Do you mean ANYHOW?

If you have been reading for a month or so and have to ask these questions it means you have read but NOT UNDERSTOOD.

Go back to the beginning of The Path of Learning but THIS TIME, read and UNDERSTAND.

When you do this, you will know the answers to your questions

I was sent the link to this from a brand new rookie trader.

This is from the Forum noted for teaching the very basics about Forex and Technical Analysis.

If this is what they are teaching new rookie traders then all I can say is THANK YOU for providing future liquidity and a market for us.

Summary of Leading & Lagging Indicators

The Million Dollar Question

How do you figure out whether to freakin’ use oscillators, or trend following indicators, or both? After all, we know they don’t always work in tandem.
This is probably the most challenging part abouttechnical analysis. And why I call it the million dollar question.
We will provide the million dollar answer in a future lesson.
For now, just know that once you're able to identify the type of market you are trading in, you will then know which indicators will give accurate signals, and which ones are worthless at that time.
This is no piece of cake. But it's a skill you will slowly improve upon as your experience grows.
Summary

 

1. There are two types of indicators: leading and lagging.
2. A leading indicator gives a buy signal before the new trend or reversal occurs.
3. A lagging indicator gives a signal after the trend has started
4. Technical indicators into one of two categories: Oscillators and trend following or momentum indicators.
5. Oscillators are leading indicators.
6. Momentum indicators are lagging indicators.
7. If you're able to identify the type of market you are trading in, you will then know which indicators will give accurate signals, and which ones are worthless at that time.

FOOLS RUSH IN WHERE WE FEAR TO TREAD

That is all I have to do. Awesome

To Strat and friends:

If you are reading this then you are more blessed than you may realize.

First, I would like to wish a happy and safe holiday season to everyone.

Let's be thankful for the learning environment we have here and realize how blessed we all are for the opportunity to have someone like Strat who shares his limited time to help us become better traders.

Very few people in this world are willing or able to work their way along a difficult path, blaze the trail for others, and then go back and assist the stragglers and newcomers who still can't see the forest for the trees, only asking that they commit to work toward their own success. Strat and others here do that for people every day.

In the several months I have been a student of his trading strategy I have seen him be harsh with people who want a free ride, while going to great effort to help those who are willing to do whatever it takes to develop themselves as traders. That is fair enough. Sometimes criticism is hard to take, but if someone is helping you avoid years of painful trial and error and possibly gain the skills that may lead to a better life for yourself and your family, don't you think the least you can do is try to help yourself? I certainly do.

If you are new to trading, and especially if you are young and new -- do not take this lightly. Without someone who is qualified to help you, like Strat, who has been tempered by the fires of the real world of trading and has learned from the school of hard knocks you almost certainly won't make it as a trader. And you can easily waste years making costly mistakes on your own.

So, we have been given a gift for this holiday season and far beyond. The only requirements are the willingness to learn, courage to try, and the desire to work for our own success. I think that is a very valuable gift.

I thank each one of you who has contributed to our group and I'm looking forward to the future of new and exciting opportunities in the markets.

And Strat; You are a fairly decent guy -- I don't care what anybody says about you. LOL

(I appreciate the comments you made on the NZD trade I posted some days ago. Very helpful. I'm feeling more confident all the time. Still using a demo account, but I plan to open a live account in January.)

Regards,
Dave

I thought i'd post this,in case anyone is still unsure of how the markets really work, and the different layers of it, and where we are realtive to the food chain.
Sorry for no link, bit google ICAP. com. This is the company i spent most of my career at, they are not a bucketshop.
Goto Market Info & Commentary, click on Research & Commentary, then Education.
You can register for free, and they have some excellent educational resources, not only spot fx, but options etc. Most importantly you will be able to read about the different tiers in the mkt, primary, secondary, retail etc( Spreadbetting is considered so low and unreliable not to even warrant a mention)
There a lots of different sections to work through,the Liquidity section even mentions Pyscho levels, but all give a good insight.
Now you might see what we are up against, the so called Big Boys, and where they trade.
Learning PASR is vital, but as Strat drums home time after time, without a plan you're dead in the water from the start, and without accepting the risk you're also dead.
I realise that my trade will have no effect whatsoever on the mkt, it will go where it wants. I only have to look up to see whats waiting to take a chunk out of my acct.
IMHO, if we have actually really understood that mark douglas video and accept the facts, it 's always a game of probabilty. Couple that with an understanding of why that is so, whats swimming above us, how they work,and the pyscho part of trading hopefully becomes a little easier.


Belated Greetings