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  • #9,721
  • Feb 2, 2010 4:51am Feb 2, 2010 4:51am
Quoting strat
Post # #9630

This is very disappointing! I post a chart showing a candle at support and ask for volunteers to sell it.

So much for my tests these days!

Where were the questions and challenges to this?
Helllllloooo !!!
  • #9,722
  • Feb 2, 2010 5:04am Feb 2, 2010 5:04am
Quoting stressfree
well whilst long term trading is much more hands free and gives you time away from the screen (which in itself reduces stress massivley) I wouldn't automatically say long term trading is stress free.

Generally it has wider stops so bigger losses. The drawdons are bigger and tend to last longer.
I dont know how this work for other people so I will tell you how it is for me.

Trading the Daily time frame protects me from the noise of the lower time frames. Also, it gives me the extra time I need to analyze the chart and I dont feel pressure from time to make a decision. No pressure = less wrong decisions = less losses and more winners = no stress.

More time away from the screen doesn't mean more hands free for me but it might lead to a happier wife. Putting it this way, I can see how this could be a major stress relief technique

Wider stops do not mean bigger losses since you can adjust the position size of your trade. If the position size cannot be adjusted so that the possible loss to be in agreement with your MM then it is advisable to skip that trade.
  • #9,723
  • Feb 2, 2010 5:21am Feb 2, 2010 5:21am
Quoting stressfree
Hi,

well whilst long term trading is much more hands free and gives you time away from the screen (which in itself reduces stress massivley) I wouldn't automatically say long term trading is stress free.

Generally it has wider stops so bigger losses. The drawdons are bigger and tend to last longer.

But as long as you take a long term view, take low risks, it is the best way to proceed for a longer happier trading life.
You obviously are NOT a student of this thread then!
15 YEARS OF PASR ON FOREX FACTORY!
  • #9,724
  • Feb 2, 2010 5:57am Feb 2, 2010 5:57am
Every time when you open your charts, please repeat after me:

"Please Mr. Market send more swings like this. Thank you."


Attached Image (click to enlarge)
Click to Enlarge Name: swinger.gif Size: 32 KB
15 YEARS OF PASR ON FOREX FACTORY!
  • #9,725
  • Feb 2, 2010 5:58am Feb 2, 2010 5:58am
Quoting Alexandra
I think that was in the cards. There is no squeeze right now on commodity supplies. Prices have recovered, yes, but there is no inflationary pressure. AUD in that environment will not benefit as much as during the initial recovery. The metals should prove interesting....I'm interested in your take on those markets.

From Jan 7th: "Could one say that perhaps the EUR is telling us something about the legs (or lack thereof) of the AUD ascent at this stage? "

I'm not advocating a short position, but it's come awfully far...needs some backing and...
Hello!
I am a seller of the metals short term whilst China is tightening and the dollar is having a rally. Especially the shiny ones that everyone likes to wear. Long term commodities (esp metals and ag) are a good buy but not at these levels.

I like the AUDCAD trade short. I see US recovering quicker than China and AUD=China, CAD=USA if you relate to trading partners.
  • #9,726
  • Feb 2, 2010 8:22am Feb 2, 2010 8:22am
Quoting strat
Post # #9630

This is very disappointing! I post a chart showing a candle at support and ask for volunteers to sell it.

So much for my tests these days!

Where were the questions and challenges to this?
Well I guess I certainly didn't pass the test!

I will keep posting updates to the trade, since it is still a learning experience.

I stated my reasons for taking the trade and to my unskilled eye it looked like a decent set up.
  • #9,727
  • Feb 2, 2010 8:27am Feb 2, 2010 8:27am
Quoting hcristea
Well, if the big boys plans were to massive buy GBPCAD, they changed their mind after you said "SELL". That support didn't had any chance.

There were a few technical reasons in favor for a SHORT at GBPCAD:
- clear down trend and all time frames Big Boss, Boss, Daily
- boss SS at TL and at Fibo 50 from last Boss swing.
- on some feeds the 1, 2, 3, candles noted on the volunteer (pipfx) chart shown a SS, followed by a doji followed by a BEOB which confirmed the SS as swing high.
- the support seems minor. It doesn't exist on the boss chart....
That is what I saw too. Thankfully this hasn't been a costly mistake.
  • #9,728
  • Feb 2, 2010 10:29am Feb 2, 2010 10:29am
Quoting pipfx
That is what I saw too. Thankfully this hasn't been a costly mistake.
Are you in doubt now? The Matrix has us!

The setup doesn't look different now. In FOREX there is no right and wrong, only profitable or the opposite of profitable (i dont have the english word now ). So far the trade is profitable, no?
  • #9,729
  • Feb 2, 2010 11:24am Feb 2, 2010 11:24am
Quoting hcristea
Are you in doubt now? The Matrix has us!

The setup doesn't look different now. In FOREX there is no right and wrong, only profitable or the opposite of profitable (i dont have the english word now ). So far the trade is profitable, no?
LOL! The seed of doubt has been planted, but true to Strat's method I am going to keep following the plan.
  • #9,730
  • Feb 2, 2010 11:58am Feb 2, 2010 11:58am
Quoting elitejets
I am (still) a seller of USDJPY rallies with price action.
My reason is we are still in a downtrending channel (very tradeable up and down).
Unless I see a breakout of this channel or a close above the previous swing high at 93.80 then I am selling rallies or a break of this short term support line.
Quoting Alexandra
I approve wholeheartedly - until the forming weekly pattern is overturned. Nicola's channel needs to be respected though.
Several pages back, Strat showed an example of a failed swing between supports and it's implications. Could this not be another possibility for USDJPY?

-m
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  • #9,731
  • Feb 2, 2010 12:09pm Feb 2, 2010 12:09pm
Quoting LarryK
Price retraced almost exactly 50% of the move up, so lets call that B of an ABC with C now in progress. The target eventually is about the same as the A leg near the 98 level.
Just now realized my previous post is saying the same thing as Larry's (sorry Larry).

If I were trading things other than PASR I would have entered today when it touched the CD trend line at 90.30. My SL would have been below the swing and my TP would have been the root TL up at D.
  • #9,732
  • Feb 2, 2010 2:09pm Feb 2, 2010 2:09pm
Hey guys -
Today we had a spinning top, which to me signals that no one really had control and there is some indecision in the market.

The high of the top almost hit the worker 20, which is acting as R.

I have trailed my stop to 1.6964.
Attached Image (click to enlarge)
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  • #9,733
  • Feb 2, 2010 2:11pm Feb 2, 2010 2:11pm
I was 30mins into the presentation, when my computer crashed!!
But it's pretty much a verbal/visual presentation of his course that i downloaded.
If anybody would like a free download of the written course, PM me and i will give you the site address.
  • #9,734
  • Feb 2, 2010 2:32pm Feb 2, 2010 2:32pm
WTI has made a nice higher swing low and has now cleared the worker 20 + 50 with very bullish PA. The inverted hammers on Fridays worker and boss really worked out.
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Hope is not a trading strategy
  • #9,735
  • Feb 2, 2010 5:33pm Feb 2, 2010 5:33pm
Quoting mstandifer
Several pages back, Strat showed an example of a failed swing between supports and it's implications. Could this not be another possibility for USDJPY?

-m
Anything is possible - either way, that channel point or the top of the inverted shoulder needs to be breached for the long case to be held up. Nicola has her point - remmember I posed that question to the forum a ways back - where is the slap in the face point for USDJPY. Resistance will be heavy there. Shorter term, 91 needs to fall, and there is little evidence this week that that is happening. Intraday movement is constructive to me, but we will se what that means for the close to make the real determination. A higher week would be bullish.
  • #9,736
  • Feb 2, 2010 8:15pm Feb 2, 2010 8:15pm
Quoting strat
Post # #9630

This is very disappointing! I post a chart showing a candle at support and ask for volunteers to sell it.

So much for my tests these days!

Where were the questions and challenges to this?
Hi Strathttp://cdn.forexfactory.com/images/icons/icon7.gif

Guilty as charged, although I have not got this pair to trade I should have noticed the trap you have set.

I guess that in the eagerness to proceed with the trade I had not looked at the chart at all.

Happy tradinghttp://cdn.forexfactory.com/images/icons/icon14.gif
Jideck
  • #9,737
  • Feb 2, 2010 11:52pm Feb 2, 2010 11:52pm
Quoting pipfx
Well I guess I certainly didn't pass the test!

I will keep posting updates to the trade, since it is still a learning experience.

I stated my reasons for taking the trade and to my unskilled eye it looked like a decent set up.
Yes you did! I didn't say it was not a sell - I said the candle was at support on some platforms - not all of them.

It wasn't on mine - I just moved the support to make it look like it.
15 YEARS OF PASR ON FOREX FACTORY!
  • #9,738
  • Feb 2, 2010 11:56pm Feb 2, 2010 11:56pm
Quoting strat
Yes you did! I didn't say it was not a sell - I said the candle was at support on some platforms - not all of them.

It wasn't on mine - I just moved the support to make it look like it.

I'm beginning to see a pattern here
  • #9,739
  • Feb 2, 2010 11:58pm Feb 2, 2010 11:58pm
  •  Sid
  • | Joined May 2009 | Status: Get wise or die laughing | 85 Posts
Quoting strat
Post # #9630

This is very disappointing! I post a chart showing a candle at support and ask for volunteers to sell it.

So much for my tests these days!

Where were the questions and challenges to this?
You initially asked for a volunteer to TRADE it, which could mean anything - buying, selling, or waiting for signal...

And I thought my confusion was only due to my crappy diagonal lines... LOL
  • #9,740
  • Feb 3, 2010 12:05am Feb 3, 2010 12:05am
  •  Sid
  • | Joined May 2009 | Status: Get wise or die laughing | 85 Posts
Quoting strat
Yes you did! I didn't say it was not a sell - I said the candle was at support on some platforms - not all of them.

It wasn't on mine - I just moved the support to make it look like it.
Ahhh.... I see.... Maybe your trap was just too subtle

pipfx - nice work! hopefully the strong oil will help your move further down. thanks for taking on the challenge and making your trade public for all of us to learn!
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