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  • #12,021
  • May 7, 2010 9:04am May 7, 2010 9:04am
Quoting Jideck
I WILL succeed in trading, or die in the attempt!

Hi Mike http://cdn.forexfactory.com/images/icons/icon7.gif

You make me laugh! There is more to living than just trading and take note of this, check the post #11995 again.

But seriously, you are in the right place and you are on the road to become a successful trader. You will notice that people who contribute here want others to succeed and you will not be...
Hi Jideck,
It is good to find a cheerful soul with a sense of humour occasionally - thanks for the uplifting message!

In fact, while I am passionate about trading and have come to think of it as my job, My Family were the main reason that I became interested in the first place. I have been offered nothing but help on this thread - It just keeps getting better and better.

Trade well!
Mike
  • #12,022
  • May 7, 2010 9:19am May 7, 2010 9:19am
[quote=simpleman;3704420]
Quoting mawbvw@hotma
Thanks Simpleman, I appreciate your having taken the time to offer your kind and gentle suggestions.

I am not yet sufficiently familiar with Candlestick patterns as I would like.

Mike, please read post #1680 on page 112 by Elitejet(Nicola) it is about candlestick patterns. Regarding books I had read them all almost 4-5 years ago but nothing learned. You have this thread to get understanding of the patterns I didn't on that time and...
I found it - many thanks!

Mike
  • #12,023
  • May 7, 2010 9:49am May 7, 2010 9:49am
Quoting hcristea
Hello gold diggers!
Have you seen the PASR on GOLD? Trend is UP, Big Boss, Boss and Worker all in agreement so all these PASR on worker could be easily traded.[list=1][*]HAMMER at Support - occured in a retracement of the previous up trend[*]BUEB & BUOB at S 1100 and straight from Boss 20[*]Reverse PA, almost BEEB (considering the gap) but it seems to be a clear reversal sign. Here profits could be taken and SL moved under BEEB.[*]HAMMER at S 1100 and rejected from Boss 20 and demand DSRI. The BUY order above wasnt activated[*]BULLISH...
hchristea,

I just pasted two of your pages (the picture and interpretation), together and placed them over the top of my computer screen. I have learned more in minutes, from this simple illustration, than from months of reading, watching and obviously not understanding, very expensive course books and DVD’s from world renowned producers of such material. I can’t thank you sufficiently for this, but will say – Thank you! Fantastic!

Regards,

Mike
  • #12,024
  • May 7, 2010 9:53am May 7, 2010 9:53am
Quoting mawbvw@hotma
Tom,

Your reply was totally acceptable to me -clear and to the point. I took no offence. I accept it in the spirit in which it was given and have taken your advice to heart. I continue to learn something new from every post that I read in this thread. With the kind and willing assistance of good people like you, I WILL succeed in trading, or die in the attempt!

[color=black][font=Verdana]Please accept my sincere apology. I was so pleased that you had taken the...
Hi Mike,

You sound committed to being a successful trader.

It seems you are trying to get an understanding of the method, but I'm sure Strat would advise you to be clear on what has been explained earlier before you risk any real money.

Once you have gained some understanding and a little more experience with it you will begin to see that you have an edge using PASR as strat has demonstrated and explained time and time again. It is important to get to the point where you truly believe that and have faith in it. That will come with experience and time. There is no shortcut. You will develop more confidence as you gain more experience.

There are periods of time, sometimes extended, that there will be no setups. So you wait. You learn to be very patient. Sometimes you will see opportunities where you could have made a lot of money if you had just jumped in -- like yesterday -- but you don't because you didn't get a proper setup. Then you see it again, and again. Sometimes days go by and you are constantly tempted. That's when you find out how much discipline you have. Sooner or later there will be a REAL opportunity. A PASR setup with a high probability of being profitable. And you trade it with confidence because you know you have an edge. Don't get me wrong, you will have doubts at first. The gremlins and little people inside your head will make you wonder if you were right, but you remind yourself again that no matter what happens you have a plan and you have an edge. And you begin to trust yourself. That's when you will begin to make that cash register ring.

Take my word for it, if you devote the time and effort to truly understand and master the trading method you will have taken a huge step toward becoming the successful trader you hope to become. If you are serious about it you can count on myself and others here to help you along your journey.


Have fun and keep the stress level low,
Dave
  • #12,025
  • May 7, 2010 9:56am May 7, 2010 9:56am
[quote=kaunasny;3706450]
Quoting Alexandra

Hello,

I am a little confused whi is this area 91,50-70 is so important. On my graph I have SR level at 92.00 and can't see 91.50 as more important. Can someone point it out for me?
kaunasny,
on't feel alone in the land of confusion, we all share you pain to some degree.

I believe it has to do with the belief that support and resistance are considered to be somewhat less precise. Think in terms of Zones. I have been wrong before, but I think it is a good place from which to begin...

Regards,
  • #12,026
  • May 7, 2010 11:42am May 7, 2010 11:42am
Quoting PistolDave
There are periods of time, sometimes extended, that there will be no setups....
Dave - that makes me feel so much better! There I was thinking, "Price is going crazy, but damn, if only I was in..." and even worse - "hell, everyone else in the world except me must be in and making big bucks..." and there I was sitting on the sidelines watching it all happen and feeling inadequate.

The thing is, to have traded this I would have had to have broken my own rules, and if we don't trade by our rules in this game we really and truly are just gambling and hoping for the best. But it's nice to hear someone else say you're doing the right thing.

Thanks for eruditely expressing what was on my mind!

Cheers, G
When in doubt, sit on your hands...
  • #12,027
  • May 7, 2010 12:15pm May 7, 2010 12:15pm
Quoting PistolDave
Hi Mike,

You sound committed to being a successful trader.

It seems you are trying to get an understanding of the method, but I'm sure Strat would advise you to be clear on what has been explained earlier before you risk any real money.

Once you have gained some understanding and a little more experience with it you will begin to see that you have an edge using PASR as strat has demonstrated and explained time and time again. It is important to get to the point where you truly believe that and have faith in it. That will come with...
Hi Dave,

Many thanks for the support.

I appreciate the encouragement. Yes , I am committed to learning the method. I am not in a tearing great hurry to get there - the only thing I have a lot of, is time, and now that I have begun to understand the rules a little better and have tried out a few dozen or so demo trades, (not just random, but pointedly testing what I believed I had just learned in the thread - sometimes correct, other times very wrong), developing rudimentary rules and tools to help me along the way, I know that there is a lot more to learn!

I am just beginning to feel that there is a possibility of finding the ellusive edge, and that I am in the right place.

If it ever stops being fun, I will know that I must have died in my sleep - life is far to precious to waste on misery!

Trade well, enjoy life!

Mike
  • #12,028
  • May 7, 2010 12:18pm May 7, 2010 12:18pm
Quoting patrick25
Hi Lotuselanmanhttp://cdn.forexfactory.com/images/icons/icon7.gif

Great stuff, I could not have explained this better.

Happy tradinghttp://cdn.forexfactory.com/images/icons/icon14.gif
Jideck
Hi Jideck and Lotuselanman,

Good discussion. I think we should have a few sets of targets for different markets conditions. If you use the same target for all markets conditions, you will beat yourself up for getting early or late. By doing this will force yourself think what market condition am I in? [/quote]

Interesting suggestion. Do you have any further ideas about connecting targets with different market conditions?
  • #12,029
  • May 7, 2010 12:20pm May 7, 2010 12:20pm
[quote=mawbvw@hotma;3707797]
Quoting kaunasny

kaunasny,
on't feel alone in the land of confusion, we all share you pain to some degree.

I believe it has to do with the belief that support and resistance are considered to be somewhat less precise. Think in terms of Zones. I have been wrong before, but I think it is a good place from which to begin...

Regards,
Now have you taken this on board Alexander - don't you just love it.
  • #12,030
  • May 7, 2010 12:39pm May 7, 2010 12:39pm
Quoting simpleman
After seeing BEOB on 4th May close at 68.18, as during the day prices went close to resistane of 69.35, I decided to go short. I placed my sell order at 68.45 as I expected the Australian session will take the prices up little bit before sending it back down.

On 5th May I woke up and saw my sell order filled up and I was in positive as well. My SL as you can see on the chart at 69.50 just above resistance and TP...
it was PA based

Not the PASR method being taught on here.

There was NO PA to trigger the sell where you took it - YOU GUESSED and you got LUCKY.

There are no LUCKY traders - they all went BROKE!
15 YEARS OF PASR ON FOREX FACTORY!
  • #12,031
  • May 7, 2010 12:43pm May 7, 2010 12:43pm
Quoting mawbvw@hotma
Hi Gang!

I think (hope) this is the right place to simply post, rather than reply.
This is by way of being my maiden voyage in (albeit still demo) trading waters. I have spent a goodly amount of time plucking up the courage to test my trade preparations (still in progress, and probably will remain that way). I tried my first trade using my spreadsheet/journal yesterday on EURUSD.
[color=black][font=Verdana]I set up my spreadsheet with the entry price - then started finding all of my excel coding errors...
the 1 and 4 hour seem (at least to my dim; untutored eyes) to demonstate a valiant battle

So which are you trading, H1 or H4?
15 YEARS OF PASR ON FOREX FACTORY!
  • #12,032
  • May 7, 2010 12:50pm May 7, 2010 12:50pm
Quoting PistolDave
Hi Mike,

You sound committed to being a successful trader.

It seems you are trying to get an understanding of the method, but I'm sure Strat would advise you to be clear on what has been explained earlier before you risk any real money.

Once you have gained some understanding and a little more experience with it you will begin to see that you have an edge using PASR as strat has demonstrated and explained time and time again....

Great post Dave!

Agree 100%
  • #12,033
  • May 7, 2010 12:57pm May 7, 2010 12:57pm
Quoting strat
it was PA based

Not the PASR method being taught on here.

There was NO PA to trigger the sell where you took it - YOU GUESSED and you got LUCKY.

There are no LUCKY traders - they all went BROKE!
Hello Strat, congratulations for your thread.
This is not your method because against trend?
  • #12,034
  • May 7, 2010 1:19pm May 7, 2010 1:19pm
Quoting mawbvw@hotma
[font=Calibri][size=3]Thanks for the input. Whatever makes you think that I have learned to trade? I am still right at the beginning of learning to trade. Please don't ever stop telling it the way you see it. It is easier to (at least for me), to learn from someone's conviction than from their lack of it!

[color=black][font=Calibri]I suspect the fact that I am a slow learner is telling against me. What I was trying out, was the idea that I have heard Strat repeat on many occasions, that the "big...
I suspect the fact that I am a slow learner is telling against me.

This has got to be the UNDERSTATEMENT of the year!

It seems like you have been on here for ever and you are no nearer than you were when you first got here!

Were you Christopher Columbus in your former life? He didn’t know where he was going when he set out, he didn’t know where he was when he got there and didn’t know where he had been when he got back!

What I was trying out, was the idea that I have heard Strat repeat on many occasions, that the "big numbers" tend to hold.

But its NOT a trading method!

I knew going in, that all of the charts were saying (screaming) down! I still wanted to see what would happen.

So you saw, reasoned and accepted that PRICE was going down yet you placed a BUY limit order?

This is the same as saying I know that 2 + 2 = 4 but I’m going to tell everyone it equals 11!

It seems you have a MASSIVE disconnect between understanding and doing.

I'm still reading Nison's Candlestick Course; Secrets of becoming a Samurai Trader, and Candlestick Charting for Dummies, but they don't seem to sink into the grey matter too readily.

Why don’t you understand the last book? It was written specially for YOU!

If you want to trade the VERY SIMPLE BASIC PASR, you don’t need any books, dvds or ANYTHING.

EVERYTHING YOU NEED TO TRADE PASR IS ON & IN THIS THREAD

I had fully accepted (and expected) to lose my deposit, and still walked away unscathed.

I can save you a lot of grief, stress and hardship – I’ll send my bank account number so you can direct deposit ALL your trading funds.

First, I learned how to put a (sort of) plan together.

No, you didn’t!

You have hit one of my nails firmly on the head

But obviously not HARD ENOUGH!

I still feel that I don't understand Strat's method (which is why I keep coming back)

And you never will UNTIL you stop pissing about, get your act together and FOCUS and CONCENTRATE.

You must FOLLOW THE RULES. If you can’t FOLLOW RULES, then find and do something which has no rules.

reasonable (to my rheumy eyes), support and resistance lines.

Reasonable, REASONABLE? Damned ACCURATE if you would only UNDERSTAND and ACCEPT IT.

Mike, you are one strange chap! I’m amazed that you found your way up the altar and then knew what to do once you got your bride into bed!

I’m going to lay down the gauntlet:

GO BACK to Post #1 on Page 1 and read and UNDERSTAND it. Do NOT go to Post # 2 UNTIL you have completely UNDERSTOOD the previous post. Then keep repeating until you get back here.

If you do this I will make sure you end up a consistently profitable trader (providing I live long enough!)
15 YEARS OF PASR ON FOREX FACTORY!
  • #12,035
  • May 7, 2010 1:37pm May 7, 2010 1:37pm
Quoting mawbvw@hotma
Thanks Simpleman, I appreciate your having taken the time to offer your kind and gentle suggestions.

[color=black][font=Verdana]I am not yet sufficiently familiar with Candlestick patterns as I would like. I have read - not fully comprehended , and as yet not a true believer – some books that show equal numbers of failed signals as they do successful signals. I put my lack of faith down to my lack of understanding and hope to wake up one day enlightened and refreshed. Still I study them constantly, much...
I am not yet sufficiently familiar with Candlestick patterns as I would like. I have read - not fully comprehended , and as yet not a true believer – some books that show equal numbers of failed signals as they do successful signals. I put my lack of faith down to my lack of understanding and hope to wake up one day enlightened and refreshed.

“HOPE” will NOT do it for you.

YOU have to make it happen!

YOU only need knowledge and UNDERSTANDING of the few candlesticks taught on here to be a consistently profitable trader.

Forget all other candlesticks until you can trade these SIMPLE candlesticks on basic PASR.

I do have a very rudimentary understanding of the concepts of support and resistance,

Then you can ONLY expect very rudimentary trading performance.

LEARN SUPPORT & RESISTANCE until you can SEE IT before PRICE gets there.

but find myself constantly delving into the mechanics of what is happening inside the box, hence the peeps into the four hour and occasionally the one hour charts – I find it fascinating, but have yet to see any logical rationale.

There isn’t any. The SHORTER the time frame – the MORE NOISE.

MORE NOISE means MORE CONFUSION

The shorter time frames ONLY do what the HIGHER time frames tell them to do – you have got your logic UPSIDE DOWN and INSIDE OUT – AGAIN!

It does however; seem to offer some short term clues as to what may be in our immediate future.

BLOWN ACCOUNTS are your future!
15 YEARS OF PASR ON FOREX FACTORY!
  • #12,036
  • May 7, 2010 1:41pm May 7, 2010 1:41pm
[quote=gaf;3704907]Is this just a glitch on my data?

If not, thank goodness for disciplined entries and exits! I was lamenting missing entries this week as everything seems to be moving but I'm glad I wasn't in this one.

Well you should have been!

You should have been short after that tweezer top BEOB!
15 YEARS OF PASR ON FOREX FACTORY!
  • #12,037
  • May 7, 2010 1:45pm May 7, 2010 1:45pm
[quote=swano;3706374]hi i think i got this right
Ive seen a buob

I think i seen a bullish outside bar on the EUR/AUD

it is a big bar over 100 + pips

can someone tell me if i am right? about the buob

i know its near an S1

is going up a bit
in profit of 60 pips

but i have a stoploss of 266

so not a major win for me yet

iI know the 6 month piviot point is at 1.500 price now is at
1.420

anyone have any thoughts on this ? do need some help

GO BACK to Post #1, Page #1 and read and UNDERSTAND. Do not go to the next post UNTIL you UNDERSTAND the previous post. Keep repeating until you get back here.
15 YEARS OF PASR ON FOREX FACTORY!
  • #12,038
  • May 7, 2010 1:54pm May 7, 2010 1:54pm
Quoting mawbvw@hotma
hchristea,

I just pasted two of your pages (the picture and interpretation), together and placed them over the top of my computer screen. I have learned more in minutes, from this simple illustration, than from months of reading, watching and obviously not understanding, very expensive course books and DVD’s from world renowned producers of such material. I can’t thank you sufficiently for this, but will say – Thank you! Fantastic!

Regards,

Mike...
I have learned more in minutes, from this simple illustration, than from months of reading, watching and obviously not understanding, very expensive course books and DVD’s from world renowned producers of such material.

Mike, you say you have read the thread – do you READ with your EYES CLOSED or are you just incapable of UNDERSTANDING?

This thread is littered with hundreds of examples like that – not to mention some of my trend trades explained in detail.

(Now I am REALLY worried I may not live long enough!)
15 YEARS OF PASR ON FOREX FACTORY!
  • #12,039
  • May 7, 2010 1:59pm May 7, 2010 1:59pm
[quote=stewrigh;3708104][quote=mawbvw@hotma;3707797]

Now have you taken this on board Alexander - don't you just love it.

Who the hell is Alexander?
15 YEARS OF PASR ON FOREX FACTORY!
  • #12,040
  • May 7, 2010 2:02pm May 7, 2010 2:02pm
[quote=extraneo;3708166]Hello Strat, congratulations for your thread.
This is not your method because against trend?

Reading and UNDERSTANDING the thread will answer your question
15 YEARS OF PASR ON FOREX FACTORY!
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