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  • #11,321
  • Apr 7, 2010 4:47pm Apr 7, 2010 4:47pm
I think maybe the following quote from Strat's post concerning the EURCHF "Signal Service" (post#11312) answers your question about PA in the areas highlighted on your chart.

Quote{{Not only that but they are at the mercy of SNB who have no ethics whatsoever and will do whatever, whenever, to make sure their beloved currency is favourable (in their eyes) against the Euro.}} end quote
"Make everything as simple as possible, but not simpler" Albert Einstein
  • #11,322
  • Apr 7, 2010 6:17pm Apr 7, 2010 6:17pm
Quoting strat
Marcus’ post reminded me of something else I read on the “Trading Systems” thread....
Someday they will learn the MA is just an approximate a guage for possible reaction just as support and resistance lines the only difference is they float and should be used as such.... nothing more nothing less, PA is King.
PS I have taken three trades over the past few days with beautiful clean charts and all profit. Thank you for your hard work as well as thank you to for those who have contributed to your thread.
.1 lots on new philosophy.....baby steps
Part luck- part understanding- still a way to go.
Happy trading

Steve
  • #11,323
  • Apr 7, 2010 9:41pm Apr 7, 2010 9:41pm
Hi all,

As a learner I was wondering how you all handle monthly candles. I know with the daily candles you ignore them until the close , but I don't really think you can do that with the monthly candle. I have been trying to add this into my daily analysis, looking for opportunities on the Boss and Big Boss and I guess I am still struggling to see beyond the candles.


Another area I am having have problems with is pulling the trigger. Example E/U the past few days. Price made a nice retracement above the 1.36 level and my feed gave sufficient PA [BEEB] which then put price just above the 1.3450 area, another big number. I know I'm supposed to get in below here ,but now its close the the recent low!

I read that a professional looks for reasons not to trade , well I should be an expert. Sorry for the rambling but I was wondering if I was the only one. It seems the more I learn the more confused I get. Just trying to keep it as simple as possible

I also wanted to say thanks for cleaning up the distractions on the thread, I was concerned we were heading in the wrong direction. This is the great thing about this thread, we are all trying to learn and help one another. If I get a bashing, I wan't it to be from Strat!



Waiting for the light,

Poncho
" I can read the left side of the chart, the right side's a Bitch!
  • #11,324
  • Apr 7, 2010 10:40pm Apr 7, 2010 10:40pm
Quoting poncho1
Hi all,

As a learner I was wondering how you all handle monthly candles. I know with the daily candles you ignore them until the close , but I don't really think you can do that with the monthly candle. I have been trying to add this into my daily analysis, looking for opportunities on the Boss and Big Boss and I guess I am still struggling to see beyond the candles.


Another area I am having have problems with is pulling the trigger. Example E/U the past few days. Price made a nice retracement above the 1.36 level and my feed gave sufficient...
I found this post very helpful: http://www.forexfactory.com/showthre...85#post3225385
for your monthly candle question.
T
  • #11,325
  • Apr 7, 2010 10:56pm Apr 7, 2010 10:56pm
Quoting poncho1
Hi all,

As a learner I was wondering how you all handle monthly candles. I know with the daily candles you ignore them until the close , but I don't really think you can do that with the monthly candle. I have been trying to add this into my daily analysis, looking for opportunities on the Boss and Big Boss and I guess I am still struggling to see beyond the candles.


Another area I am having have problems with is pulling the trigger. Example E/U the past few days. Price made a nice retracement above the 1.36 level and my feed gave sufficient...
Hi Poncho1,

When you do the analysis on Big Boss and Boss, try to focus on just the chart itself without label of monthly or weekly. Of course monthly chart you have to wait for monthly candle closes and so on. Hope this help. I agree with you Strat should be the only one does the bashing.
  • #11,326
  • Apr 7, 2010 11:04pm Apr 7, 2010 11:04pm
Quoting poncho1
Hi all,...

Another area I am having have problems with is pulling the trigger.

Have you read your TITZ yet?

Do you have a plan for your trades before you place them?

Are you confident in that plan?

Have you built some confidence up on demo or a small account to help with building your confidence and your patience and discipline?

I have been in the same position as you not too long ago Poncho and the above helped me to overcome it. I like to ask myself, if i took this trade a hundred times would i still win more than i lose? Could it go against me 20-30 times? Sure but my 70-80 winners will take care of those for me.
  • #11,327
  • Apr 7, 2010 11:10pm Apr 7, 2010 11:10pm
HOWDY THERE FOLKS!
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Annoying Precision
  • #11,328
  • Apr 7, 2010 11:20pm Apr 7, 2010 11:20pm
Recite this everyday before you begin trading with VIGOR.

Strat's Mantra:

We TRADE TO LIVE. We are NOT like others who LIVE TO TRADE.

We know that our Health is ALWAYS more important than our wealth.

We know trading is NOT a "Get Rich Quick Scheme".

We know trading is a serious business and WE treat our trading as a SERIOUS BUSINESS

We understand we have, like any other profession, to put in the thousands of hours studying, learning and practicing our methods and techniques.

We understand there is NO SHORTCUT to becoming successful and profitable traders.

We understand that successful and profitable trading is 95% psychology and 5% technical skill. We know who and what we have to control.

We need PATIENCE to wait for and "SEE" opportunities

We need DISCIPLINE to act and trade on such opportunities

We are PLANNERS – We always PLAN each and every trade and then Trade the PLAN without exception.

We are BELIEVERS. We believe in ourselves and our PLAN.

We are happy, content and satisfied with where we are in our trading career.

We believe in the Holy Grail. We know what the Holy Grail is. We have found the Holy Grail and our search for trading enlightenment is over.

We can only take what the market gives us - we do "NOT" force the market.

We respect PRICE and the Market.

We understand that PRICE is Lord, King, Queen and Country.

We ACCEPT losses as the cost of doing business

We are PROFESSIONALS and PROFESSIONALS look for a reason NOT to take a trade

We are NOT Amateurs. Amateurs manage money by taking RISK. PROFESSIONALS manage RISK by taking money.
==============================================================================
I am a professional trader. My job is to take risk. If I manage my losses and let my profits run I will be successful. Because I am a professional trader, I will forgive myself easily for making mistakes and move on to new opportunities. I feel great that I have the discipline to control my emotions and the patience required to be a professional trader. I am a professional trader and will make $1,000,000 by year end. I will achieve this by following my trading plan, setting achievable goals, and controlling my emotions. I am confident and believe in my own ability to be consistently profitable because I AM a professional trader.
Annoying Precision
  • #11,329
  • Apr 7, 2010 11:26pm Apr 7, 2010 11:26pm
Quoting strat
Hello No1Optimist,
well as my subject says this is Strat's thread and not a Dr Joe thread even though Strat and others have refered to him on a number of times.

Only you have the answer to your question / query.
I'm intrested to se others replies to your query as it is a good post.

[font=Arial]OK, enough is enough. I think you owe No1Optimist...
No1Optimist, appolgies if I did offend you in any way that was not my intention. Actually your question was a good one and Strat answered it well. I was keen to see others answers as personally I would not have taken the trade.
  • #11,330
  • Apr 8, 2010 3:44am Apr 8, 2010 3:44am
Hello everyone,

I am currently at page 615... and counting..

I keep seeing people mentioning TITZ and I really don't know how to get it. I sent an e-mail to Naws and PM'ed him (I readin some posts that getting TITZ has something to do with registering on The Path) but I didn't get any answer so far. Can anyone shed some light into this, please?

CT


Quoting CrudeCraig
[color=blue][b]...
  • #11,331
  • Apr 8, 2010 4:55am Apr 8, 2010 4:55am
Quoting CostinTira
Hello everyone,

I am currently at page 615... and counting..

I keep seeing people mentioning TITZ and I really don't know how to get it. I sent an e-mail to Naws and PM'ed him (I readin some posts that getting TITZ has something to do with registering on The Path) but I didn't get any answer so far. Can anyone shed some light into this, please?

CT
Hi,
Trading in the Zone by Mark Douglas. A link to the video is posted on the thread. You may have come across it already.

Cheers,
R
  • #11,332
  • Apr 8, 2010 4:56am Apr 8, 2010 4:56am
Quoting CostinTira
Hello everyone,

I am currently at page 615... and counting..

I keep seeing people mentioning TITZ and I really don't know how to get it. I sent an e-mail to Naws and PM'ed him (I readin some posts that getting TITZ has something to do with registering on The Path) but I didn't get any answer so far. Can anyone shed some light into this, please?

CT
TITZ = Trading in the Zone, a book by Mark Douglas.

HTH Roy
Polishing my crystal ball
  • #11,333
  • Apr 8, 2010 4:58am Apr 8, 2010 4:58am
I know that..

I thought there was a .doc or something somewhere.

CT
  • #11,334
  • Apr 8, 2010 5:59am Apr 8, 2010 5:59am
Quoting poncho1
Hi all,

Another area I am having have problems with is pulling the trigger. Example E/U the past few days. Price made a nice retracement above the 1.36 level and my feed gave sufficient PA [BEEB] which then put price just above the 1.3450 area, another big number. I know I'm supposed to get in below here ,but now its close the the recent low!


Poncho
Poncho, have you tried with Stop orders (Limit orders for some). Just put the order (even if it is with a small one) and walk away...I found it a good way of starting. Not always applicable of course but mostly yes.

My Penny

Spinner
Spinner 'Tis in the Waiting.....
  • #11,335
  • Apr 8, 2010 6:08am Apr 8, 2010 6:08am
Thanks Raje$h,

I watched the video already. I think I'll go back to it this afternoon.. thanks for reminding me about it.

CT

Quoting Raje$h
Hi,
Trading in the Zone by Mark Douglas. A link to the video is posted on the thread. You may have come across it already.

Cheers,
R
  • #11,336
  • Apr 8, 2010 6:27am Apr 8, 2010 6:27am
Trade executed at previous week high which I consider to be resistance for the current week.Price also rejected at 20 monthly moving average..Nice to have you back Elite
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  • #11,337
  • Apr 8, 2010 6:30am Apr 8, 2010 6:30am
Quoting Spinner
Well, a bit shy to post...
Aud cad: no news here. Peeked it's head down and got back into its home. Now at top TL. Almost got in but PA didn't let me.

spinner
Spinner 'Tis in the Waiting.....
  • #11,338
  • Apr 8, 2010 6:35am Apr 8, 2010 6:35am
Quoting Spinner
Again a 20 year range (or so).

Monthly: seems to have broken both resistance and that famously loong trendline, touched quite a few times, even if last months candle has a long tail and is controlling action for now. MAs are going up yet a bit far away.

Weekly: Dutifully came down and tested both the trendline and resistance now probably confirmed as support roughly 1.2900 area. Last candle...
Aud nzd: Same here, appears strong rejection of the high+ inside daily bar. The way this pair moves.... will wait a bit, still thinking long.

Spinner
Spinner 'Tis in the Waiting.....
  • #11,339
  • Apr 8, 2010 8:13am Apr 8, 2010 8:13am
Quoting poncho1
Hi all,...
In my method, we don't trade the Big Boss. The Big Boss is there as our GPS - our direction finder. It tells us where PRICE is headed in the long term.

If you can't pull the trigger then you don't have confidence in either yourself or PASR or maybe both. Practice, practice, practice and practice until you can "see" it and "do it in the dark" then practice, practice, practice and practice some more.

When the time is right, your light will "SHINE" - I promise - but YOU have to do the work and put in the effort.

As for bashing, I am only one of many qualified posters on this thread so I encourage you to listen to and work with them also.

Keep us updated with your progress.
15 YEARS OF PASR ON FOREX FACTORY!
  • #11,340
  • Apr 8, 2010 8:13am Apr 8, 2010 8:13am
Quoting Spinner
Aud cad: no news here. Peeked it's head down and got back into its home. Now at top TL. Almost got in but PA didn't let me.

spinner
I've been watching AUDCAD myself. It's my opinion (and only an opinion) that the 2 areas indicated by the arrows are stop hunts in preparation for the big move. Until I see 2 consecutive closes above DSRI or support, they are just head fakes.

With yesterday's close between the MAs but above DSRI, it makes today's close important. Also, note the Boss MA's acting as resistance.
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