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Strat's Long Term Stress Free Trading

  • #11,341
  • Apr 8, 2010 6:19am Apr 8, 2010 6:19am
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
Please note that mstandifer has replaced Naws as our Registrar and Thread Administrator. Send him a PM with your details and he will get you going.
15 YEARS OF PASR ON FOREX FACTORY!
  • #11,342
  • Apr 8, 2010 7:32am Apr 8, 2010 7:32am
You can't beat a "Quickie" on a Thursday morning so based on some of the recent posts, here is a quick refresher on the POWER OF TIME FRAMES.

Quick refresher on the Power of Time Frames


1) We take our direction from the BIG BOSS

2) We take our direction (and sometimes trades) from the BOSS

3) We time and initiate our trades on the Worker


So, when we do an analysis of a pair or any financial instrument for that matter:

We identify our SR levels

We find out where the BIG BOSS is relative to ITS trend AND where it is headed in the SHORT TERM relative to ITS SR levels

Knowing the direction of the BIG BOSS, we review the BOSS. If the BOSS is fighting the BIG BOSS, it will be very difficult to trade so we WAIT until the BOSS aligns herself with the BIG BOSS.

With the BIG BOSS and BOSS now in harmony (both moving together in the same direction) we drop down to the Worker.

We wait for the Worker to give us PASR in the direction of the BIG BOSS and BOSS. Rewarding and stress free trades come when we time the Worker JUST TURNING into the direction of the BIG BOSS and BOSS at PASR (as shown on the attached chart)

The MOST REWARDING and STRESS FREE trade comes when you can time the Worker turning into the direction of the BIG BOSS at THE SAME TIME as the BOSS turns into the direction of the BIG BOSS.

It sounds SIMPLE and it really is that SIMPLE but to make it stress free we MUST trade with PASR. Trying to guess trades is the best known way to blow an account.

WAIT until you SEE all the above happening.
Attached Image (click to enlarge)
Click to Enlarge Name: power of time frames.gif Size: 26 KB
15 YEARS OF PASR ON FOREX FACTORY!
  • #11,343
  • Apr 8, 2010 8:03am Apr 8, 2010 8:03am
Quoting mstandifer
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.
Just let it breaks away free. If it comes back with PA then we trade. If price breaks TL and closes above 9474 then we think long. With this kind of market condition I think we have to be careful and develope special strategy for it.
Attached Image (click to enlarge)
Click to Enlarge Name: audcad-04-08-10.gif Size: 22 KB
  • #11,344
  • Apr 8, 2010 8:15am Apr 8, 2010 8:15am
Quoting strat
You can't beat a "Quickie" on a Thursday morning so based on some of the recent posts, here is a quick refresher on the POWER OF TIME FRAMES.


Quick refresher on the Power of Time Frames



1) We take our direction from the BIG BOSS

2) We take our direction (and sometimes trades) from the BOSS

3) We time and initiate our trades on the Worker


[font=Arial]So, when we do an analysis...
Thanks Strat, that has helped a lot. It is really SIMPLE but it is not easy. Practice, Practice and Pratice.
  • #11,345
  • Apr 8, 2010 8:15am Apr 8, 2010 8:15am
Thank you.

PM sent.

CT

Quoting strat
Please note that mstandifer has replaced Naws as our Registrar and Thread Administrator. Send him a PM with your details and he will get you going.
  • #11,346
  • Apr 8, 2010 8:35am Apr 8, 2010 8:35am
This makes it really clear. Thanks again.
"Don't trade to trade . . . trade to win." - James16
  • #11,347
  • Edited 10:21am Apr 8, 2010 8:40am | Edited 10:21am
[quote=strat;3620017]In my method, we don't trade the Big Boss.

Strat and everyone,

Thanks for the responses. I'm not trying to trade the monthly, just trying to make sure everything is in agreement. I remember you saying that a lot of traders want to position themselves against the trend trying pick tops and bottoms and thats the last thing I want to do.

As for confidence, I am certainly lacking but I am feeling much better about PASR. I am reviewing most all the pairs my broker offers daily and its really helping me to see PA. The perfect s.star or hammer doesn't happen that often.

When you give someone a good review that helps to filter out what is good analysis and what is not. Then when someone points out something that has been on my radar, that helps the confidence level.


Thanks again,

Poncho.
" I can read the left side of the chart, the right side's a Bitch!
  • #11,348
  • Apr 8, 2010 9:16am Apr 8, 2010 9:16am
Thanks Strat for this succint reminder!

Quoting strat
Rewarding and stress free trades come when we time the Worker JUST TURNING into the direction of the BIG BOSS and BOSS at PASR.

[...]

WAIT until you SEE all the above happening.
Trading = a mirror to your human flaws. Fix them or be fixed.
  • #11,349
  • Apr 8, 2010 9:56am Apr 8, 2010 9:56am
It keeps coming up that many of you are struggling with pulling the trigger on PASR trades.

I’m not 100% sure but I think this has more to do with following too many pairs than anything else.

While we need to study and practice on as many pairs that we can get our hands on ( believe me, I have had my hands on a lot of pairs!), I really think that when it comes down to actual trading, you should stick to just a couple of pairs.

By focusing on just a couple of pairs for trading, you will become more familiar with those pairs and gain confidence as they move with your understanding and perception of PASR. It will also allow you to concentrate on “SEEING” those pairs better.

Trying to trade all the pairs your broker has can be more of a distraction than anything else.

For those who have this problem, choose a couple of pairs to trade and focus on them. See if this improves your trading and let me know your progress.
15 YEARS OF PASR ON FOREX FACTORY!
  • #11,350
  • Apr 8, 2010 10:13am Apr 8, 2010 10:13am
Quoting CrudeCraig
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?
Adding to what Craig said:

I struggled with pulling the trigger because there always seemed to be some reason not to...and I'm not referring to mis-interpreting the charts according to the rules.

The reasons not to enter were often posted by the more experienced traders and they were valid reasons. I saw and understood their reasoning but only after they pointed it out. This caused me great trepidation in pulling the trigger because I wondered "What am I not seeing?" every time I saw a valid entry by the rules.

Here is what I came to grips with mentally that will help you and anyone else having trouble pulling the trigger:

Strat's method has clear rules of entry, as posted by him a few posts back. If you see a trade that meets those criteria (including PA), PULL THE TRIGGER. It's that simple.

Is it possible that the more experienced traders see something you don't that would cause them not to enter? Yes. Should that stop you from entering? Only if they post it and you understand and agree with it. Otherwise PULL THE TRIGGER. You are going to loose some. YOU ARE SUPPOSED TO LOSE SOME!!!

As you become more experienced, you will begin to see what the more experience traders see and your win/loss ratio will go up as you see more reasons not to take the trade.

I view this as learning to walk on your own. Did you fall down when you were learning to walk or did you fall down a lot? As far as I know, there isn't a person alive that learned how to walk and never fell down (hell, I have trouble remaining upright as it is even now). Eventually you even got to where you could run...

Be encouraged by this: Even if you are as green as I am (or greener), and you understand the method and spot a valid entry, you will make more than you lose providing you use proper money management. JUST PULL THE TRIGGER.
  • #11,351
  • Apr 8, 2010 10:32am Apr 8, 2010 10:32am
Quoting mstandifer
Adding to what Craig said:

JUST PULL THE TRIGGER.
This is very abbreviated but you'll get the picture

AUDNZD monthly up
AUDNZD weekly up
AUDNZD daily up

I posted the daily chart below. There were 4 occasions price broke up through 1.3000 resistance.

Arrow 1 price broke up and retested with 2 bond hammers. I went long above the 2nd one and was promptly stopped out the next day. No big deal.

Arrow 2 not being shy I stepped back in above the BUEB and was stopped out 4 days later. No big deal. This is only 2% of my account each trade.

Arrow 3 no entry ... no PA

Arrow 4 Price retested support and closed with a BUEB. Long next day. Did I panic at the close of the next day's SS. Yes. Did I close it? No. I am now up a tad more than I lost on both of the other trades with my stop at BE.

Proper MM is the key and so is pulling the trigger. I lost 2 in a row and at worst this one will BE.
Attached Image (click to enlarge)
Click to Enlarge Name: audnzd.gif Size: 23 KB
  • #11,352
  • Apr 8, 2010 10:38am Apr 8, 2010 10:38am
Quoting mstandifer
This is very abbreviated but you'll get the picture
Were there reasons not to take any of those 3 trades? I'm positive there were (I even know some of them now).

Because I did not know the reasons at the time does not change the fact that all 3 of my entries were 'by the rules'. The reasons not to enter were beyond the basics.

Right now, I am only concerning myself with the basics and if the trade doesn't work out, then I'll look for why and learn from it.

I am now confident in my analysis to the point I can spot a proper Strat entry and pull the trigger. Once this becomes automatic, then I can begin absorbing those 'other' reasons not to take the trade.
  • #11,353
  • Apr 8, 2010 10:42am Apr 8, 2010 10:42am
Quoting mstandifer
This is very abbreviated but you'll get the picture

AUDNZD monthly up
AUDNZD weekly up
AUDNZD daily up

I posted the daily chart below....
And, if you want more confidence, add the TL across the 2nd and 3rd arrows and the close above it is another trigger
Attached Image (click to enlarge)
Click to Enlarge Name: audnzd.gif Size: 24 KB
15 YEARS OF PASR ON FOREX FACTORY!
  • #11,354
  • Apr 8, 2010 11:59am Apr 8, 2010 11:59am
How do I get started on "The Path of Learning"?
deg
  • #11,355
  • Apr 8, 2010 12:03pm Apr 8, 2010 12:03pm
Quoting questfx
How do I get started on "The Path of Learning"?
Read the First Page and all will be revealed
15 YEARS OF PASR ON FOREX FACTORY!
  • #11,356
  • Apr 8, 2010 12:43pm Apr 8, 2010 12:43pm
Quoting patrick25
Just let it breaks away free. If it comes back with PA then we trade. If price breaks TL and closes above 9474 then we think long. With this kind of market condition I think we have to be careful and develope special strategy for it.
Bit of fundis to this.

Aussie should be rallying on the news of rates and more rates to come. Yet apparently what's stopping it, is the possibility of Yuan revaluation and and what that can do for dolla and China demand of aussie products.

Must say I am getting a bit nervous about where I put my punctuation marks, hope this is awrite .

Spinner
Spinner 'Tis in the Waiting.....
  • #11,357
  • Apr 8, 2010 2:03pm Apr 8, 2010 2:03pm
I've received several requests to be registered on The Path of Learning and I want to answer a few questions I keep getting asked:

1. I've already learned so many unsuccessful strategies, will this one make me successful?
Answer: This thread isn't a strategy. This thread teaches you how to trade successfully. Whether you put in the time required or not is up to you.

2. There is so much information to read, do I have to read it all?
Answer: Learning to trade the right way is like going back to school. Despite the millions the 'take your money' websites say you can make in 3 months...there is no easy way. Everything you need to know to be a successful and profitable trader is in this thread. You must read it ALL from the beginning. Everyone on The Path, including myself had to do this.

3. How is this method/strategy any different from the others? This thread will teach you how to understand what you see on the charts and how to interpret that information for successful trading. Yes there is a particular method we use but you can't apply the method without knowing how to trade...(see number 1)

In short, you will learn how to trade properly on this thread. It's going to take you a while to learn it and many of you will see the length of the path in front of you and decide it isn't worth it. That's ok too. This thread exists to help those that are serious and willing to stay the course and we look forward to seeing those serious and dedicated few participate on the thread.

-m
  • #11,358
  • Apr 8, 2010 2:30pm Apr 8, 2010 2:30pm
Remember my previous posts on certain conditions of JPY pairs?

Well that time is nigh again.

If you don't remember the post then maybe knitting would be a suitable hobby?
15 YEARS OF PASR ON FOREX FACTORY!
  • #11,359
  • Apr 8, 2010 2:33pm Apr 8, 2010 2:33pm
So, on my data, we have 3 Hanging Men trapped in the 20/50 box!

There must be a Japanese name for this pattern?

Where are the Japanese Candlestick experts when you need them most?
15 YEARS OF PASR ON FOREX FACTORY!
  • #11,360
  • Apr 8, 2010 2:33pm Apr 8, 2010 2:33pm
I think that TL showed by Strat on aud/nzd now has moved on aud/usd.
My humble opinion.
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