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Strat's Long Term Stress Free Trading

  • #10,061
  • Feb 16, 2010 8:29pm Feb 16, 2010 8:29pm
Newb question.

I lost money on the swap with a long aud/nzd. Aud has higher interest rates so..? Interbank fx is my broker

thanks
Annoying Precision
  • #10,062
  • Feb 17, 2010 2:53am Feb 17, 2010 2:53am
Quoting strat
We have mentioned this big fat line at psycho 1.3600 before
Forgive a rookie for being presumtuous... but didn't I read somewhere else in the thread that we shouldn't make some S/R lines thicker than others because it may cloud our judgement and cause false expectation...
When in doubt, sit on your hands...
  • #10,063
  • Feb 17, 2010 7:28am Feb 17, 2010 7:28am
Quoting Alexandra
There is no hurry on this for the stress free trader. Should current levels hold, the monthly view remains trend-based, and the notable support will have held.
Ok, that makes sense then. I wasn't too far off from that in what I was thinking. Doing my best to live by the rules these days.

It appears that U/J favored your E/J purchase shortly after your post. Spot on!
  • #10,064
  • Feb 17, 2010 9:14am Feb 17, 2010 9:14am
Quoting mstandifer
I see the rejection of 1.3600 and I see the break of short term DSRI.



I see the montly hold above the 50 and the weekly bond inverted hammer last week.

However, at the risk of being asked just how much more proof I need to buy this, I have a few questions:

What about the big area of congestion at 1.3775ish and the root DSRI both acting as resistance?

Would this be treated as an ATM up to DSRI and the 50 or a sell off of the 50 if it gets back that far up?

I see the 20 below the 50 on the daily with a hint of slowing momentum brought on by...
This was not an indication to buy - just merely an observation from the Big Boss, Boss down to the Worker.

Everything I stated in my previous post on magic, illusions, smoke and mirrors still stands on this pair.

There is no rush to buy - let PRICE show us the momentum is UP first.
15 YEARS OF PASR ON FOREX FACTORY!
  • #10,065
  • Feb 17, 2010 9:28am Feb 17, 2010 9:28am
Quoting Alexandra
There is no hurry on this for the stress free trader. Should current levels hold, the monthly view remains trend-based, and the notable support will have held.

As of the moment, however, the weekly candle pattern is short term bullish. It's all how one frames it, and then how one trades within that frame. To me extrapolating the monthly look into the inability to close below the levels noted last night produced a long supported by E/J's hold of the prior doji and the Aussie stength. The R/R was favorable, so I took it. Not much to be lost there....
All things considered, why not trade the Aussie rather than the geo-political nag in the barn? Could there not be a more obvious trade that A/J at 76.50? That is the true Strat-style top-down trade without the need for extrapolation.

Thou dost speakest wisest words of wisdom. Forsooth, thy must be truly learned in thy ways of forex.
15 YEARS OF PASR ON FOREX FACTORY!
  • #10,066
  • Feb 17, 2010 9:30am Feb 17, 2010 9:30am
Quoting elitejets
No challenges for GBPCAD tonight Strat?
It was very, very tempting but I need to see more!
15 YEARS OF PASR ON FOREX FACTORY!
  • #10,067
  • Feb 17, 2010 9:36am Feb 17, 2010 9:36am
Quoting gododdin
Forgive a rookie for being presumtuous... but didn't I read somewhere else in the thread that we shouldn't make some S/R lines thicker than others because it may cloud our judgement and cause false expectation...
Yes, correct. It is up to the individual and how he/she reacts to seeing those lines. Some will see them as an obstruction blocking the way while others will see them as a hurdle to jump over.

Some use a thin line for Worker SR, with a thicker line for Boss SR and a big fat line for Big Boss SR while others just use different colours.

It is all about trading style and personality - there is no right or wrong way only what works for YOU.
15 YEARS OF PASR ON FOREX FACTORY!
  • #10,068
  • Feb 17, 2010 11:44am Feb 17, 2010 11:44am
Quoting Alexandra
...Could there not be a more obvious trade that A/J at 76.50? That is the true Strat-style top-down trade without the need for extrapolation.
Hi,

Is A/J: AUD/JPY???

Thanks,

FP
Posting Demo charts, mirroring some of them live.
  • #10,069
  • Feb 17, 2010 11:46am Feb 17, 2010 11:46am
Quoting forexpiet
Hi,

Is A/J: AUD/JPY???

Thanks,

FP
Yes
15 YEARS OF PASR ON FOREX FACTORY!
  • #10,070
  • Feb 17, 2010 11:47am Feb 17, 2010 11:47am
Quoting strat
All things considered, why not trade the Aussie rather than the geo-political nag in the barn? Could there not be a more obvious trade that A/J at 76.50? That is the true Strat-style top-down trade without the need for extrapolation.

Thou dost speakest wisest words of wisdom. Forsooth, thy must be truly learned in thy ways of forex.

Nah...I just be's lucky, yo.

See....patience in EURUSD! You were so right on that.
  • #10,071
  • Feb 17, 2010 1:16pm Feb 17, 2010 1:16pm
Quoting Alexandra
Nah...I just be's lucky, yo.

See....patience in EURUSD! You were so right on that.
Don't forget the rules! Us novices aren't allowed to go counter trend beneath the MAs. My cash stays in my pocket on this one! This counts as a win for me...just by following the rules.

-m
  • #10,072
  • Feb 17, 2010 1:50pm Feb 17, 2010 1:50pm
  •  Sid
  • | Joined May 2009 | Status: Get wise or die laughing | 85 Posts
seems like i got through it without too much bruising.

i have pulled in my sl to 9010, 4 pips away from break even.

weekly shows nice completion of swing low.

it's interesting, this trade so far has been really stress free for me. no fear, no greed, hence i found it easy to manage, despite it's less than ideal timing that we talked about. this stress-freeness isn't something that is the norm for me, but i have been working on it a lot so it is a nice development to experience some sort of change...

an on it goes...
Attached Image(s) (click to enlarge)
Click to Enlarge Name: USDJPYdaily.png Size: 39 KB
Click to Enlarge Name: USDJPY weekly.png Size: 41 KB
  • #10,073
  • Feb 17, 2010 2:15pm Feb 17, 2010 2:15pm
Quoting mstandifer
This counts as a win for me...just by following the rules.
-m
You are bang on the right path.
  • #10,074
  • Feb 17, 2010 5:03pm Feb 17, 2010 5:03pm
Quoting Sid
seems like i got through it without too much bruising.

i have pulled in my sl to 9010, 4 pips away from break even.

weekly shows nice completion of swing low.

it's interesting, this trade so far has been really stress free for me. no fear, no greed, hence i found it easy to manage, despite it's less than ideal timing that we talked about. this stress-freeness isn't something that is the norm for me, but i have been working on it a lot so it is a nice development to experience some sort of change...

an on it goes...
  • #10,075
  • Feb 17, 2010 10:47pm Feb 17, 2010 10:47pm
Quoting mstandifer
Don't forget the rules! Us novices aren't allowed to go counter trend beneath the MAs. My cash stays in my pocket on this one! This counts as a win for me...just by following the rules.

-m
There you have it! What a difference a day makes.
  • #10,076
  • Feb 18, 2010 2:32am Feb 18, 2010 2:32am
  •  Sid
  • | Joined May 2009 | Status: Get wise or die laughing | 85 Posts
Quoting Alexandra
gosh, u makin' me feel all flirtatiouliscious with that little smile
  • #10,077
  • Feb 18, 2010 3:48am Feb 18, 2010 3:48am
I long yesterday after a proper set up i think...... But the trading is still moving against me... well i will still be patient.
Attached File(s)
File Type: csv AUDUSD1440.csv   112 KB | 292 downloads
  • #10,078
  • Feb 18, 2010 9:08am Feb 18, 2010 9:08am
Quoting babatma
I long yesterday after a proper set up i think...... But the trading is still moving against me... well i will still be patient.
But why ?

Read and UNDERSTAND the thread from Post #1 and you will have your answer.
15 YEARS OF PASR ON FOREX FACTORY!
  • #10,079
  • Feb 18, 2010 9:17am Feb 18, 2010 9:17am
Strat do you think these big moves up in the majors are just stop running?
Annoying Precision
  • #10,080
  • Feb 18, 2010 9:20am Feb 18, 2010 9:20am
Quoting Sid
gosh, u makin' me feel all flirtatiouliscious with that little smile
Sounds like an invitation for Alexandra to visit the London Strat Club to me!
15 YEARS OF PASR ON FOREX FACTORY!
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