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  • #10,501
  • Mar 9, 2010 6:04am Mar 9, 2010 6:04am
Quoting kratun
Listen to mr Strat don't make a fool of yourself...
Ough, that's hurt. Now what was Spiner signature not long ago?
  • #10,502
  • Mar 9, 2010 6:40am Mar 9, 2010 6:40am
I ddn't mean to hurt anyone in here,but won't put up with oh,uh and other nonsense...
  • #10,503
  • Mar 9, 2010 6:56am Mar 9, 2010 6:56am
Quoting kratun
I ddn't mean to hurt anyone in here,but won't put up with oh,uh and other nonsense...
Perhaps as English may not be your first language, your posts have not come across as you intended...
  • #10,504
  • Mar 9, 2010 7:33am Mar 9, 2010 7:33am
No it's not my first language it's obvious. So lets stop our discussion no need for empty words .If you have something to say or to upload a chart please do,otherwise no need to post meaningless staff.
  • #10,505
  • Mar 9, 2010 7:54am Mar 9, 2010 7:54am
Quoting kratun
No it's not my first language it's obvious. So lets stop our discussion no need for empty words .If you have something to say or to upload a chart please do,otherwise no need to post meaningless staff.
LOL. You're an angry young man aren't you? Fair enough, will leave you alone with the voices.
  • #10,506
  • Mar 9, 2010 7:57am Mar 9, 2010 7:57am
Quoting kratun
Have found this recently and decided to give it a go...Entered on a pullback.
kratun, I’m not really sure why you are posting on this thread. This thread is for trading PASR.

Pullbacks, tests and re-tests are all part of this method using PASR for entry and exit.

Looking at your entries, I’m not sure what your method is. I can’t see where you know when the pullback is finished to enter a safe, low risk, stress free trade.

Neither do I know (or care) what your “Floor Trader Method” is.

There are some GENUINE Floor Trader Methods available from retired Floor and Pit traders however, there are many more SCAM “Floor Trader Methods” developed by snake oil salesmen to capitalize on the “get rich quick” image portrayed by the brokers and trading media.

You are welcome to post on this thread providing it follows the basic principle of PASR trading.
15 YEARS OF PASR ON FOREX FACTORY!
  • #10,507
  • Mar 9, 2010 8:13am Mar 9, 2010 8:13am
Well said mr Strat...
  • #10,508
  • Mar 9, 2010 8:46am Mar 9, 2010 8:46am
Our Ryan wanted to know how to trade 2 lots on his penny stock trading so I did this example for him and thought I would post here as well.

Place 2 trades (lots) buy order

Set TP (take profit) on 1st trade at 100 pips or whatever your first target is.

Then, move your SL (stop loss) on your 2nd trade to your entry price. This will put your 2nd trade at break even (less commissions). If PRICE comes below this level you are out of your 2nd trade but you still made profit on your 1st trade.

If PRICE continues up, keep your stop there until PRICE makes a confirmed swing low. When the swing low is made, move your stop below that swing locking in profit on your 2nd trade.

Keep moving your stop up below each confirmed swing low until PRICE takes out your stop.
Attached Image (click to enlarge)
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15 YEARS OF PASR ON FOREX FACTORY!
  • #10,509
  • Mar 9, 2010 8:57am Mar 9, 2010 8:57am
Quoting strat
Our Ryan wanted to know how to trade 2 lots on his penny stock trading so I did this example for him and thought I would post here as well.

Place...
Thanks Strat. This is basically what I have been working on . . . I got another possible example of "seeing beyond the candles" that I'll post up in a bit . . .
"Don't trade to trade . . . trade to win." - James16
  • #10,510
  • Mar 9, 2010 9:05am Mar 9, 2010 9:05am
Quoting patrick25
Ough, that's hurt. Now what was Spiner signature not long ago?
A fool is a fool who doesn't know he is a fool



Spinner
Spinner 'Tis in the Waiting.....
  • #10,511
  • Mar 9, 2010 9:10am Mar 9, 2010 9:10am
I'm wondering if this trade would be another example of seeing beyond the candles. Like Gbp/Cad a few weeks ago, we got a bearish bar that formed on the pound/yen daily chart.

Price is trading well below the big boss 20 and 50, and broke the choppiness of the boss weeks ago. Finally, we got the US NFP news noise move on Friday with a week follow through yesterday. Price ended the day below the worker 20 with a rejection of the 137 - 137.50 price level, a 61 Fib ret level, and the trend line.

I took this trade on demo and covered half around 134.50. I'm still trying to get a feel for seeing beyond the candles. If it was a shooting star, I would have went short no question. Am I seeing this right?
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"Don't trade to trade . . . trade to win." - James16
  • #10,512
  • Mar 9, 2010 9:39am Mar 9, 2010 9:39am
Quoting Flem26
I'm wondering if this trade would be another example of seeing beyond the candles. Like Gbp/Cad a few weeks ago, we got a bearish bar that formed on the pound/yen daily chart.

Price is trading well below the big boss 20 and 50, and broke the choppiness of the boss weeks ago. Finally, we got the US NFP news noise move on Friday with...
I'm wondering if this trade would be another example of seeing beyond the candles.

No this is just PASR trading.

Price is trading well below the big boss 20 and 50

This is where you have to be careful. The further PRICE is from the 20/50, the higher the chance of a pullback (elastic band effect). Look at and where PRICE pulled back on the Worker a few days ago.

Price ended the day below the worker 20 with a rejection of the 137 - 137.50 price level, a 61 Fib ret level, and the trend line.

All correct but the signal is the pullback and test in PRICE to the TL (Nov 26, and Feb 05) AND the 20.

Observe how the 20 is acting as DYNAMIC resistance – Lou are you seeing?

I took this trade on demo and covered half around 134.50. I'm still trying to get a feel for seeing beyond the candles. If it was a shooting star, I would have went (Grammar – “gone”) short no question. Am I seeing this right?

Although you had no PA to trigger a short, the “dark cloud” cover was enough in this case because of all the other conditions mentioned PLUS GBPUSD is being sold off across the board on all pairs and because of the current strong downtrend of GBPJPY.

Until trading basic PASR becomes second nature to you (trading with your eyes closed), I wouldn’t bother about “seeing beyond the candles) as, without the foundation of basic PASR, you may “see” the wrong thing!
15 YEARS OF PASR ON FOREX FACTORY!
  • #10,513
  • Edited 10:02am Mar 9, 2010 9:49am | Edited 10:02am
A continuation of a good opportunity coming up I believe

AUDNZD Monthly trend is up. HH and HL. 20 above and pulling away from the 50. This month's candle has broken control of last month's candle and is running in clear space slightly above support at 1.3000.

AUDNZD Weekly trend is up. Last week saw buyers drive price above resistance at 1.3000 and held it above through the week close. Last 3 weeks closed above the critical 1.2900 area. 20 above the 50 and pulling away. Note: This week is still under the control of last weeks candle.

AUDNZD Daily trend is up. 20 above the 50 with both above the Boss MAs. Price broke through 1.3000 and has now come back down to retest that level. For the past 2 days it has held. If today holds it will be the third day that sellers could not push price down long enough for it to close below support or DSRI. Next resistance is a long way up with very little to risk. There will be some difficulty at 1.3125 which would be a good place to either take some profit or at least move stop to BE.

1 - Buyers carried enough momentum to push through resistance at 1.3000

2 - Sellers only had enough steam to push price below 1.3000 briefly before buyers took it back up to close above it. A bond hammer. Good enough to indicate a rejection of 1.3000 for PA. Buy order placed 5 pips above this candle.

3 - Buyers and sellers at it again but with the sellers showing the most activity. However, despite the fact they sent price lower, buyers refused to give up the 1.3000 level. Order from yesterday not filled. This candle is a spinning top rather than a bond hammer but the activity of the buyers and sellers was the same as that of a hammer. Moved my buy order to 5 pips above this candle.

Today - Order triggered at 1.3026. TP 1.3575, SL 1.2945 (below the spinning top low, below DSRI and below the 50 psych number.

I'm already in the trade so I'm going to let it ride, but would it have been better to look for a BUEB after a failed fill on the bond hammer at number 2?

-m
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  • #10,514
  • Mar 9, 2010 10:15am Mar 9, 2010 10:15am
Quoting strat
Our Ryan wanted to know how to trade 2 lots on his penny stock trading so I did this example for him and thought I would post here as well.
Perhaps the chart from this post answers my question. This post also shows a series of spinning tops but the trade was entered above the BUEB. Clearly the safer trade but they were quite a bit above support and the bond hammer on AUDNZD was right smack on it. I just don't know if an experienced trader would consider proximity to support into the equation.

-m
  • #10,515
  • Mar 9, 2010 10:32am Mar 9, 2010 10:32am
Quoting strat
I'm wondering if this trade would be another example of seeing beyond the candles. ...
Thanks for the feedback Strat. Back to the drawing board for this student . . .
"Don't trade to trade . . . trade to win." - James16
  • #10,516
  • Mar 9, 2010 10:41am Mar 9, 2010 10:41am
Quoting Flem26
Thanks for the feedback Strat. Back to the drawing board for this student . . .
I would just add that at least you weren't trying to pick the bottom like most people were (and are) on Sterling. I think that deserves a pat on the back in itself.



P.s. Love your signature.
  • #10,517
  • Mar 9, 2010 10:57am Mar 9, 2010 10:57am
Quoting mstandifer
A continuation of a good opportunity coming up I believe

AUDNZD Monthly trend is up....
would it have been better to look for a BUEB after a failed fill on the bond hammer at number 2?

This is all about how itchy is your trigger finger?

Now the good part is that you analysed this correctly. The trend is UP across all 3 time frames.

After breaking strong resistance, it is usual for PRICE to come back for a re-test of that PRICE level as support. On my data, I don’t have that re-test but you do on yours.

So, the real question is “when do we know this pullback has finished?”

Of course the answer is when a bullish bar takes out those dojis which would show us the buyers are back in town.

My concern is that this is a 38.2% pullback which is pretty normal for a trend but I prefer the 20 to catch up with PRICE first.

We don’t want PRICE to come down to the 20 as that would be below SR which would invalidate everything.

So, nothing may happen until the 20 catches up with PRICE or until the buyers come back.

To answer your question is a matter of personal trading style and your risk tolerance.

If you are already in this trade and “fat and happy”, you would be buying above every red candle you see.

If you are looking to enter a new trade, the safest, stress free method is waiting for bullish confirmation.

On this, I would suggest you have a conversation with your Little People. Were they behind this? (GREED, not wanting to miss out).

Remember, we are not picking tops and bottoms (not even on retraces and pullbacks); we are only going for the meat of the trend – the safest 75% of the trend.

Yes, it is good to get in at the beginning of a move (but at a stress cost) but since this is the Worker which moves in pips a plenty and since we are in an established trend, might it not be better to wait for the buyers to show they are still interested which will cause PRICE to show us a bullish bar?

15 YEARS OF PASR ON FOREX FACTORY!
  • #10,518
  • Mar 9, 2010 10:57am Mar 9, 2010 10:57am
Quoting AstonDan
I would just add that at least you weren't trying to pick the bottom like most people were (and are) on Sterling. I think that deserves a pat on the back in itself.



P.s. Love your signature.
Thanks Dan. I don't spend a lot of time posting on the other threads like in times past, but I will lurk from time to time. It is comical reading to say the least . . .
"Don't trade to trade . . . trade to win." - James16
  • #10,519
  • Mar 9, 2010 11:10am Mar 9, 2010 11:10am
Man, if the S and P 500 and the other fraudexes aren't a case of Dr. Joe, I don't know what is . . . they just keep going and going . . .
"Don't trade to trade . . . trade to win." - James16
  • #10,520
  • Mar 9, 2010 11:29am Mar 9, 2010 11:29am
Quoting strat
On this, I would suggest you have a conversation with your Little People. Were they behind this? (GREED, not wanting to miss out).
Certainly not. I have the patience of Job.

My problem is knowing when to use a hammer as a signal bar vs. using a hammer AND a BUEB. It appears in this case though you consider them all dojis so that answers that.

Also, I believe Dave shares this difficulty with me, my weak area is simply determining what constitutes a valid entry. Each time I think I have it right, there's some exception that rears it's head that causes me to have to rewrite what I thought was correct.

While, I understand what constitutes a valid 'text book' entry, they seem to hardly ever show themselves in practice. Given that, a perfect hammer will hardly ever show itself, so most of our entries are off of bond hammers. How close is close enough to be considered a bond hammer vs. just being a doji?

Quoting strat
Remember, we are not picking tops and bottoms (not even on retraces and pullbacks); we are only going for the meat of the trend – the safest 75% of the trend.
Again back to the hammer vs. hammer AND another bullish bar.

Tell me if I have this part straight:

-True hammers and shooting stars can be signal bars all by themselves (at SR of course) and you can enter appropriate orders above or below them to put on the trade.

-Some bond hammers and shooting stars can be signal bars all by themselves at SR but some might require accompanying PA depending on location and shape.

-Doji's must have accompanying PA before entering the trade

Is that right or wrong?

Also, if Dr. Joe says it's still going up, how do I need to be considering that in conjunction with price nearing an all time high?

-m
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