Strat's Long Term Stress Free Trading

Strat, responding to your open invitation, I'm pretty satisfied with your thread.

Hells bells! Only “pretty” satisfied? What do we have to do to make you “very” satisfied?

I gave up my previous trading methods and habits and now I'm learning PASR and trading the daily TF. I'm following this thread since October 2009. I'm still at the beginning. I read the thread and I know what LarryK nicely summarized in the post #8771 but to know is one thing and to successfully apply what you know is another.
Repetitio Est Mater Studiorum

Well said. The only way to find out is to DO

This thread shows us how to fish but it’s up to us to practice what we learn in order to easily catch the fishes, no?

YES

Practice takes time and it's good that the thread has been around for 1 year and hopefully it will be around for more.

As long as there are traders needing help

Being sent back to the beginning of The Path is positive feedback because it helps you not to lose your money.


Well said.

P.S. speaking of the 1st year anniversary... will there be cake?

I have another more important anniversary this year so let’s see.

Yes, correct, thank you.

I wish I could match those.

You will, Christopher, YOU WILL!

I certainly wont trade a candle that isn't closed

Very important RULE Larry - thanks for reminding everyone.

There will be times like last night when the Asian Session was very active and completely changed the NY 5pm closing candle.

My worker is a bit different. So here is my view:
BigBoss: in downtrend. Last full week bar is BUEB. Unconfirmed HL.
Boss:ranging last 13 weeks
Worker: in uptrend as of end of november. Resting on daily support and daily uptrend tl. Break above weekly R could signal the start of a uptrend.

Possible buy above weekly resistance at 150.340

White lines: daily sr or tl
Yellow lines: weekly sr or tl
Red lines: monthly sr or tl

FP

Follow up to Post #8934

Our perfectionist friends would have ignored the Shooting Star because it is not in the perfect location. For them, it has to be stuck out like a sore thumb and not "in traffic" as they say.

For us, as we SEE BEYOND THE CANDLES, we understand the act being played before us.

The New Year's Eve candle was stopped dead in its tracks by 150.50R meaning that the BUYERS did not have the momentum to close above that PRICE level.

Yesterday's Shooting Star at 5pm NY close was CONFIRMATION of 150.50R being held. The BUYERS made another attempt to get over the 150.50 PRICE but it was so well defended by the SELLERS that they were able to push the BUYERS back lower.

With this pair held in the 150.50 to 141.50 range, it is therefore likely that we shall see a return to the lower level UNLESS sentiment changes as the big boys come back.

Each and every candle has a story to tell - learn to READ and UNDERSTAND the story being told.

I started with a demo 100K

This is playing straight into the hands of the demons, gremlins, little man in your head and the man in the mirror!

YOU are giving them a HUGE, UNREAL, FICTIONAL toy to play with!

A demo account is there to duplicate and simulate real, live trading.

Unless you intend to trade with a real, live 100K account, your demo account should reflect the size of the account you will trade with.

Therefore, if you intend to trade a 5K account, you should demo with a 5K account.

Anything else screws up your thinking and sub conscious when you eventually get to the real thing

Hello Strat,

In my monthly chart I do not see a 26 year high. There was a higher high in march 2008.
I also attached the daily with the (white) trendlines. The down trendline of the closes has already been broken (it is of course the lower one).

thanks for explaining,

FP

Because this is a free thread, I can NEVER ask that. But, if you really really want to know -- its a mind-meld

I didn't know there is a notable difference between "pretty" and "very" Where is "pretty" between "satisfied" and "very satisfied"? I do not master the subtilities of English yet.

Congratulations in advance for the important anniversary!

What is it that makes you conclude the "3 bars after it are indicative of low liquidity"?

Apart from the October thrust to a new 19 year high, the 89 PRICE has contained the Worker for some time. Since the New Year’s Eve bar didn’t make it to the energy levels of the previous high, I just see the bars after the shooting star as over running the 89 PRICE. Had there been normal volume and liquidity (big boys), I believe the 89 PRICE would have held again. Only my gut feel though and not really important anyway.

What if these bars were placed in lets say the end of October?

I don’t know how to answer this hypothetical question as the bars are already there in October

In my monthly chart I do not see a 26 year high. There was a higher high in March 2008.

Go to your left from this high to find the next high at this PRICE.


I also attached the daily with the (white) trendlines. The down trendline of the closes has already been broken (it is of course the lower one).

Sorry, I have no idea what you are trying to say here. You are showing the Root TL controlling today’s bar (so far).

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Here is the daily line chart with closing prices. As outlined somewhere it is a good way for drawing trendlines. This trendline is broken. That is what I meant to say.

FP

Here is the daily line chart with closing prices. As outlined somewhere it is a good way for drawing trendlines. This trendline is broken. That is what I meant to say.

Again, I ask, are you sure you have read and UNDERSTOOD all the thread?

The line you have drawn there is worthless, incorrect and, even if it meant something at one time, is now out of date.

AGAIN, both a correctly drawn line on the closes and the Root TL (helped by Worker 0.9150R) are CONTROLLING today’s PA (so far).

Hello Strat,

Yes, I read the thread. I thought I understood also. And now by posting I am checking wether I did or not. There is no other way to check then by posting what I think is correct or is there?
So it seems I did not understand the correct way. So now I will try again and explain what I do and think.
The magenta line could be the first one to draw through the first and second high of the closes. The blue trendline, from the second to the third high depicts the accelaration of the move downwards.

Maybe youre willing to explain what I do wrong?

Thanks,

FP

As of yesterday (Futures volume reporting is always one day behind),

EUR volume is half the ‘norm’

AUD volume is half the ‘norm’

GBP volume is less than half the ‘norm’

CAD volume is just over half the ‘norm’

USD volume is back at new levels established in November

JPY volume is half the ‘norm’

CHF volume is half the ‘norm’

Crude Oil volume is one third the ‘norm’

Gold volume is half the ‘norm’

DJI volume is “anemic!”

FTSE volume is one fifth the ‘norm’

NASDAQ volume is less than one third the ‘norm”

This shows the big boys are not back in town yet or if they are, they are not playing.

So it seems I did not understand the correct way. So now I will try again and explain what I do and think.
The magenta line could be the first one to draw through the first and second high of the closes. The blue trendline, from the second to the third high depicts the accelaration of the move downwards.

Your magenta line, being drawn from the “Root” (major swing high) to the NEXT swing high is the CONTROLLING line whether you draw it on closes or on the highs. Students on The Path should draw on the extremes for TLs.

Your blue line was a MOMENTUM line at the time it was in force UNTIL PRICE crossed it on Dec 30th. At that time it became obsolete (until PRICE falls and touches it again). Note that the 20 MA was telling you everything your blue line did.

Anything projected from a “Root” (major swing) will ALWAYS be the dominant CONTROLLING line and will ALWAYS be inferior to static SR lines.

Hope this helps.

Sure this helps a lot. Much appreciated. Thank you!

FP

can somebody correct these lines?

Ok, thanks Strat - I can understand that now and see why the gremlins can still get you. Ref the 5K starting account....

Xmas was not so good as poxy cam-belt snapped on my car and wrote the engine off so I had to use the spare cash I had saved for my trading account to buy a new car ;-( (old car was beyond economic repair). Having to travel 140miles a day to work makes buying from new pointless - deprecating assets cars - I hate them!

That's life I guess - I will just have to save up a bit more and try again. 'They' always say only trade with money you can afford to lose - and with a need for a car to get to work the car won that battle- plenty of life left yet to trade - more learning time too!