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Strat's Long Term Stress Free Trading

  • #9,881
  • Feb 6, 2010 11:25am Feb 6, 2010 11:25am
Quoting strat
An observation of a lie. Or is it True?...
I'm with you Strat. They gotta show me first before I BELIEVE (like Canada in the Winter Olympics) . . . for all the Canadians that have seen the commercials, you know what I'm talking about.
"Don't trade to trade . . . trade to win." - James16
  • #9,882
  • Feb 6, 2010 1:41pm Feb 6, 2010 1:41pm
i have been watching this thread for quite some time but did not post because i thought i could not add anything new/relevant to what strat and the rest of you are discussing.

most of my trading is based on S/R areas and timeframe correlations (very similar to what is being discussed and analyzed on this thread). the rest of it, let's say some of the "spicing" added to main course, is just keeping an eye on what large traders are doing - weekly COT reports (and volume analysis, but that's another story and this is neither the place nor the time for it). this spicing is the reason i am writing this post today.

the charts i am showing are for dollar index, euro-globex and australian-globex.
a very short explanation - as a medium/long term trader, i am mostly interested in the lower window, where there are 3 lines: green, red and blue (you can read on the website what is the significance for each). this shows how large traders are positioned, i.e., green line - and this should give you the direction of the main trend - here is what i see based on what i see is this:
- usd index positions: DESPERATELY long (compare to the activity from last year!)
- euro positions: short
- aussie positions: still long (!)

if you think they are in some way useful, more can be found at "timingcharts". if you don't think they are useful, just disregard this post.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: euro-globex.png Size: 45 KB
Click to Enlarge Name: aud-globex.png Size: 42 KB
Nihil Sine Deo.
  • #9,883
  • Feb 6, 2010 4:52pm Feb 6, 2010 4:52pm
I WAS LONLEY,lonely and confidence.I was waiting to see what i was desire the most-my limit.A wonderful limit,but a very dangerous one.I didn't know if my friends(buyers mates)had the power to go throw that border,to broke it.After a long,exhauted jouney i stopped a few pips before the border and celebrate my victory.When my fellows reached the border,i heard a disperate sound of another's crowd(seller)beyond of the border.These were so many,so strong,greedy,very greedy with long and powerful swords(pin).the sellers attacked the buyers with force and determination in order to defend their teritory.I heard the crowd,the buyers were desperate running and left behaind them all they had,stop loss,orders,everything.At that moment i said to myself:i'm a worrior,it's time to make new friends for a couple of days,i have to go with the new strong force.SO I DID,till a new border,where i stopped a few pips before the border and i celebrated a new victory.I was lonely again.The time was changing.The buyerS attacked again with force to defend their teritory.they were thirsty of SL'blood and revenge.The FIGHT begun.What a fight,what a wonderful fight.It takes days and nights.It was dark,the crowds were ambitios to win in order to take the victory and the CROWN(PA).In 4th day the light appeard to me.The buyers were too exhausted to continue and let the battle.The long swords of sellers were shinning.In the last night meanwhile i was enjoy the fight i heard some of buyers telling:we will wait them to the new border(R) where we surprise them and stole the crown.I was lonely and i said:it's time to continue my way with the sellers.SO I DID till a new border.I stopped a few pips before the border and i celebrated a new victory.The buyers attacked,stole the crown and run back to their teritory.I followed them because now i was a seller's friend and i knew that they have a trap and i knew where(at the last S/R point).Indeed the last buyers allive were hit with an unseen violence by sellers(engulfing).I had to feel ashamed,because i lead the buyers there,i knew what it was waiting there,but i didn't.I choos to stay lonely and silent.I followed the trip with the sellers and we conquisted a new teritory.They were goig to a land they called Trand Line=S.It must be a beautiful thing to be called Trand Line=S by such a great and powerful crowd.It was a wonderful journey that it last 2 days.The 2th day,we ALL saw what they call Trand Line=S.When it appears all the sellers were running faster and faster to touch that wonderful thing.I stopped a few pips before TL=S because i was astonished by it's beauty and i knew that ALL beauties are dangerous,so i made the choice to have no friends,no buyers,no sellers.I choose to be lonely.This was a story of a lonely worrior and his trade,a story of battles,a story of a journey,of MY choice,yes this is THE STORY OF CHOICE.
My humble opinion.
  • #9,884
  • Feb 6, 2010 4:57pm Feb 6, 2010 4:57pm
the richest one...lol

Quoting igmal
I WAS LONLEY,lonely and confidence.I was waiting to see what i was desire the most-my limit.A wonderful limit,but a very dangerous one.I didn't know if my friends(buyers mates)had the power to go throw that border,to broke it.After a long,exhauted jouney i stopped a few pips before the border and celebrate my victory.When my fellows reached the border,i heard a disperate sound of another's crowd(seller)beyond of the border.These were so many,so strong,greedy,very greedy with long and powerful swords(pin).the sellers attacked the buyers with force...
Annoying Precision
  • #9,885
  • Feb 6, 2010 5:23pm Feb 6, 2010 5:23pm
long,out at TL.1-hammer on TL,first sign of no more long-wait.2-BEB(and hammer confirmation)short at the and of candle,SL =higher of candle.3-great candle move SL at higher of candle.4-hit new TL out and wait.5-reject from new TL,20 and 50 MA to close between them and 100MA to close(risky trade)out and wait(THE FIGHT BEGUN).6-the sellers fight with buyers(out and wait).7-the fight is go on(out and wait).8-reject and CLOSE under ALL MA and Fibb,long tail(buyers exhausted and loose the fight)definitly short at the close of the candle.SL at Fibb.9-great candle move SL at higher of candle.10-hit TL out of trade and wait.at the end of candle=hammer-long till the first R point(the seller were weak from battle,don't have enough power to broke TL).11-hit the first R point(lower of candle 9)out of trade and wait.12-powerful BEB(seller reloaded energy for another attempt to broke)at the close of candle shortSL on higher, of BEB.13-great candle ,broke TL,stop on Fibb,move SL at TL.14-hit the new TL out of trade and wait.
Attached Image (click to enlarge)
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My humble opinion.
  • #9,886
  • Feb 6, 2010 5:25pm Feb 6, 2010 5:25pm
Quoting strat
You deal with it as you would any business - you have made some profits so lock some away for a rainy day and invest some back into your business.

Above all - DO NOT CHANGE ANYTHING and whatever you do, do NOT try to walk on water.

As a trader, you are at your WEAKEST when you have just come off a winning streak. This is the time to tighten up more than ever. Do NOT be tempted to take on more RISK than your MM and personality allows.
Hi Strathttp://cdn.forexfactory.com/images/icons/icon7.gif

Thanks to you and Razorjack, Blackeagle, Sid, Christopher for the comments on my last post. Experiencing wins on a big scale actually got me more frightened than exited as I was not too sure how to approach it.

I have traded my plan accordingly and was not worried about changing it but when I saw the pips coming this was quite unnerving, as not being in such position before one would either be totally extatic and forget things, go with emotion, or cautious and step back to look at the big picture and detach itself from such emotion.

This is a first for me and therefore I want to make certain that this will prove a base for my future approach to such situations. So far I found that by moving to next opportunity after a win or loss trade as nothing has happened is the best option for it enables me to focus on now and a clear slate to start with.

Happy tradinghttp://cdn.forexfactory.com/images/icons/icon14.gif
Jideck
  • #9,887
  • Feb 6, 2010 5:40pm Feb 6, 2010 5:40pm
Quoting Alexandra
Nicely stated. Make sure you read that post several times.

The 95 percent will read it and cast it off. That's why they are the 95 percent.
Hi Alexandrahttp://cdn.forexfactory.com/images/icons/icon6.gif

There is as much good stuff in learning Strat's "lessons" as much from what you do not say or write.

By being cryptic in your posts sometimes you say plenty too, this I find very , very interesting.

Nevertheless, without spending time on such a post and understanding it there is not much hope.

Happy tradinghttp://cdn.forexfactory.com/images/icons/icon14.gif
Jideck
  • #9,888
  • Feb 6, 2010 6:06pm Feb 6, 2010 6:06pm
Quoting Lotuselanman
Firstly I would like to echo poncho1's thanks to Blackeagle and all the others for all the great posts of charts recently - very helpful indeed.

Also congratulations to Jideck and others who have been successful and 'got fat with trades' (Strat's term) - wish I was one of them.

So it's time to 'fess up' that January was a disaster for me, 16 trades but only two were winners. The previous three months were definitely in the black (or blue), but January!!!!!!!!!!!!! Fortunately I use tight MM, risking no more than 1.% per trade, and usually [b]quite...
Hi Christopherhttp://cdn.forexfactory.com/images/icons/icon6.gif

DON'T GET OVER CONFIDENT AND TRY AND BE CLEVER.

Such situation is but a nightmare, I have to admit that winning more trades than losing is what we want. I have losing trades and they are happening so I do not get too kocky or "try to walk on water".

Over the Festive Season I have re-read the whole thread and took more notes on the information that was posted and I have discovered that the basic knowledge is the key, PASR is all that I want to know as this is what works. I thought that there were some pointers that I have missed but no I was always reminded that PA at SR is the answer.
Another factor that I have noticed is very important is confidence in executing the trades, when I have doubt then I can expect loss, when not I win. I do enter trades maybe a bit too late but I let my 3 lots work themselves out - trading 0.2% of my account and there is still the "meat" of it.

I also read and re-read Strat's posts over and over, look at the trades he did and posted - I find that this helps me tremendously.

I do not want to sound like I do know too much, make no mistake I will be always learning, making mistakes, learning more here but I want you to know that you made this far and you want to be successful here, you will do right.

Happy tradinghttp://cdn.forexfactory.com/images/icons/icon14.gif
Jideck
  • #9,889
  • Feb 6, 2010 6:09pm Feb 6, 2010 6:09pm
This is correct, uploaded, lol.

Quoting strat
As a trader, you are at your WEAKEST when you have just come off a winning streak. This is the time to tighten up more than ever. Do NOT be tempted to take on more RISK than your MM and personality allows.
Annoying Precision
  • #9,890
  • Feb 6, 2010 7:26pm Feb 6, 2010 7:26pm
one more important thing:the candle 8 close BELLOW the candle 7.the candle 8 close inside the 5 EMA and the candle 9 open outside of 5 EMA(force whith speed).
My humble opinion.
  • #9,891
  • Feb 6, 2010 7:52pm Feb 6, 2010 7:52pm
First time here
Hi all.

Have a good trading week.
  • #9,892
  • Edited 8:29pm Feb 6, 2010 8:14pm | Edited 8:29pm
Quoting strat
Here is the final update. The trade hit my TP and the trade was closed.

My first trade was successful, but as Strat mentioned I got lucky. I moved my SL due to gremlins and FEAR of taking a loss. I will follow my plan next time....
I did reognized the hammer on Dec 29, but I admit chose to actually place a TP to ensure my trade was triggered.

All in all, my initial TP was incorrect. I saw 1.6720 as minor support and traded to that.

Thanks for the advice. I will keep on learning.
  • #9,893
  • Edited 10:42pm Feb 6, 2010 8:31pm | Edited 10:42pm
Candle #1 - It is not a hammer.

Candle #10 - If your plan is to take your profit at the lower of candle #9, then this long trade is meaningless. Looks like you are trading this PA after the fact.

Candle #12 - Considering this bar has closed just above your TL (that was the reason you exited your short trade from candle #8), you are selling into support. Meaningless trade. Another clue that you see the right of the candle #12 (just guessing).

Candle #13 - This "great" candle closed just above major SR at 1.5700. Are you aware of SRs?

Candle #14 - You just exited your short trade after a major SR was broken dowside, congratulations!!!!!

It seems you have tried to make a replica of Strat's EURUSD PASR trading a few pages back. But I doubt that you have read the entire thread. Hope my comments make you think further and I suggest you to read all posts and understand what is being taught here.
  • #9,894
  • Feb 6, 2010 10:38pm Feb 6, 2010 10:38pm
Quoting Scrat
i have been watching this thread for quite some time but did not post because i thought i could not add anything new/relevant to what strat and the rest of you are discussing.

most of my trading is based on S/R areas and timeframe correlations (very similar to what is being discussed and analyzed on this thread). the rest of it, let's say some of the "spicing" added to main course, is just keeping an eye on what large traders are doing - weekly COT reports (and volume analysis, but that's another story and this is neither the place nor the time...
Scrat, thank you for your post and you are always welcome to post your “spicings”.

In the context of teaching “long term stress free trading”, I am very interested in using all the knowledge and information available to us.

I used to use the COT reports when I used Futures Trading to drain my savings accounts! That was through no fault of the information available on those reports but solely due to my “Indicator Land” and being totally lost in trading.

In what we do on here, I think there is a place for those reports if we have someone suitably versed in extracting the meaningful information they provide. I occasionally look at them and the Futures charts (for volume) that you show and accept that they do identify the long term trends which we are interested in.

The big danger with a teaching thread like this is that the students may not fully understand how to use this information so we have to be careful how we present it. For example, they must understand who the Commercials and Large Traders are and what they represent and also that although these reports are available on a weekly basis, they are using information which is already one week old.

Of course, the benefits are that we can “SEE” the long term trends of the big boys.
I know by following the actual number of traders in a given position on a weekly basis may alert one to market sentiment and I have seen web sites who do this.

I would be interested in taking this further as long as it did not distract from the basic teachings of PASR.

The thought of adding this to PASR and funny mentals is quite exciting!

15 YEARS OF PASR ON FOREX FACTORY!
  • #9,895
  • Feb 7, 2010 2:41am Feb 7, 2010 2:41am
Quoting pipfx
Here is the final update. The trade hit my TP and the trade was closed.

My first trade was successful, but as Strat mentioned I got lucky. I moved my SL due to gremlins and FEAR of taking a loss. I will follow my plan next time.
Hi Khalidhttp://cdn.forexfactory.com/images/icons/icon6.gif

Well done for the first time, keep up the good work!

Happy tradinghttp://cdn.forexfactory.com/images/icons/icon14.gif
Jideck
  • #9,896
  • Feb 7, 2010 3:30am Feb 7, 2010 3:30am
#5

And read his Profile!
15 YEARS OF PASR ON FOREX FACTORY!
  • #9,897
  • Feb 7, 2010 4:10am Feb 7, 2010 4:10am
Quoting strat
#5

And read his Profile!
That's so funny...I really hope he's a joker and I really hope I don't someday end up like that
Hope is not a trading strategy
  • #9,898
  • Feb 7, 2010 4:23am Feb 7, 2010 4:23am
Quoting strat
#5

And read his Profile!
haha I don't know how you find them
Trading = a mirror to your human flaws. Fix them or be fixed.
  • #9,899
  • Feb 7, 2010 4:58am Feb 7, 2010 4:58am
Quoting strat
#5

And read his Profile!
No of indicators in screenshot = 19

Occupation = Trash collector!

Future = Our liquidity.

The borker dunit.



Made my day, Roy
Polishing my crystal ball
  • #9,900
  • Feb 7, 2010 5:03am Feb 7, 2010 5:03am
About AlbertTater My reasons for trading: I am a highschool drop out and was told I would never amount to anything. I have been in and out of jail most of my life. I have problems making friends and enjoy time by myself with my computer and the forex market

I enjoy trading the FOREX market. I have several special systems that I use that help me. I am working towards being a full time trader.

I have trades US stocks in years past.

I am thinking of writing my own book on FOREX trading and my methods

Sometimes I am in front of my trade station so much I do not go to the bathroom and leak on my computer chair. That is how much I love FOREX
15 YEARS OF PASR ON FOREX FACTORY!
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