Strat's Long Term Stress Free Trading | Page 611 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Strat's PASR Long Term, Stress Free Trading 18,592 replies

M5 PASR Trend Trading Strat 95 replies

What you need for trading: indis, a strat & good music 27 replies

Another way to stress free, mechanic long term trading 29 replies

Short Term / Medium Term / Long Term? 3 replies

Attachments: Strat's Long Term Stress Free Trading
Exit Attachments

Strat's Long Term Stress Free Trading

  • #12,201
  • May 13, 2010 4:40pm May 13, 2010 4:40pm
What a beautiful sight for PASR followers.

Tis in the waiting as our friend Spinner says.

Have you the PATIENCE to wait?
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd worker.gif Size: 29 KB
15 YEARS OF PASR ON FOREX FACTORY!
  • #12,202
  • May 13, 2010 5:00pm May 13, 2010 5:00pm
Spot silver short anyone?? Poss 'rinsed' triple top after all time highs on Boss Chart. Only for seasoned traders really.
Attached Image (click to enlarge)
Click to Enlarge Name: 05-13-2010_Sliver_Short.png Size: 80 KB
Trade less and become more profitable!
  • #12,203
  • May 13, 2010 5:03pm May 13, 2010 5:03pm
Bund Long?? Just two poss set-ups that caught my eye this evening. FTSE looks bearish too when combined with this inverse correlation (Bund). FTSE at 61% retrace from 'Flash Crash' and rejected the broken major Up Trend line. One to watch.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 05-13-2010_Bund.png Size: 34 KB
Click to Enlarge Name: 05-13-2010_Ftse_Short.png Size: 89 KB
Trade less and become more profitable!
  • #12,204
  • May 13, 2010 5:23pm May 13, 2010 5:23pm
Quoting PistolDave
The AUDCAD market has been in a sideways channel for the past three months and finally appears to be breaking out to the downside.

Attachment
Good set-up

I don't do all the pairs but i will now to capture and improve the newly acquired skill.
  • #12,205
  • May 13, 2010 6:17pm May 13, 2010 6:17pm
Quoting hcristea

Btw, have you noticed that AUDCAD loves Fibonacci?


I had not considered that. Thanks for pointing it out. I'm not so familiar with Fibonacci analysis but I assume sometime in the near future I will learn more about it. It does seem to be very useful at times. At least, one should be aware of where the retracement percent levels are so as not to be trading right into one of them.
  • #12,206
  • May 13, 2010 6:18pm May 13, 2010 6:18pm
Quoting Alexandra
The continentals are interesting. They stand again at an entrance to the floodgates, but ranges are tight and volumes are low. Is it a trap? All I can say is that there is no sufficient daily PA to justify a trade against the short term trends I am waiting anxiously to take advantage of the overzealous selloffs against the monthly S/R (which is threatened), but I can't bring myself to do it yet and will await a proper entry. I need to see 1.13 broken on USDCHF to really get excited about the long side, but the TL may be a clue to changing this from...
Hi Alexandrahttp://cdn.forexfactory.com/images/icons/icon7.gif

Just as you say, USDJPY disappoints the pair is just above the 20 on the worker slowly moving up, I still believe that the upwards move is gathering momentum but this is so slow coming.

At present I prefer to stay in the trade with the EURUSD than USDCHF, it just have more umpf!

Happy tradinghttp://cdn.forexfactory.com/images/icons/icon14.gif
Jideck
  • #12,207
  • May 13, 2010 6:30pm May 13, 2010 6:30pm
Quoting strat
What a beautiful sight for PASR followers.

Tis in the waiting as our friend Spinner says.

Have you the PATIENCE to wait?
Hi Strathttp://cdn.forexfactory.com/images/icons/icon7.gif

I have to admit that I have not waited until today, I have entered after the big BEOB 2 days ago.

Happy tradinghttp://cdn.forexfactory.com/images/icons/icon14.gif
Jideck
  • #12,208
  • May 13, 2010 6:37pm May 13, 2010 6:37pm
Quoting hcristea
Btw, have you noticed that AUDCAD loves Fibonacci?
I have noticed that in all the AUD pairs, agreed
  • #12,209
  • May 13, 2010 7:10pm May 13, 2010 7:10pm
Quoting simpleman
Ok, no more jokes from me. Please see post #11532, 33, 34 & 35 on page 769 that will explain you registration process.
Thanks - I was already aware of the provisions of those posts on p769.

I was referring to a separate website which exists, seemingly independent of what is here at FF.

Perhaps we should leave it to Strat to comment, if & when he sees fit.
  • #12,210
  • May 13, 2010 7:23pm May 13, 2010 7:23pm
Quoting Jideck
Hi Alexandrahttp://cdn.forexfactory.com/images/icons/icon7.gif

Just as you say, USDJPY disappoints the pair is just above the 20 on the worker slowly moving up, I still believe that the upwards move is gathering momentum but this is so slow coming.

At present I prefer to stay in the trade with the EURUSD than USDCHF, it just have more umpf!

Happy tradinghttp://cdn.forexfactory.com/images/icons/icon14.gif
Jideck
I agree with that. All one can really hope for is a nice quiet solidifying weekly inside bar. It appears that is on the horizon. I would prefer a close closer to the top of the weekly range, however, above the recent highs of 93.50
  • #12,211
  • May 13, 2010 8:14pm May 13, 2010 8:14pm
After much research on the topic, I've finally decided to post this for those of you that still have the internal struggle of "your chart doesn't look like mine"

This will put it to rest once and for all...I promise.

1. A bar is a bar no matter the broker. It's simply a measurement of price over a certain period of time.

2. It doesn't matter if your bar doesn't look like my bar because we are trading 'types' of bars. These 'types' of bars exist on all charts regardless of the broker and regardless of whether or not yours coincides with mine.

3. MOST important...price action is a simply a function of price over a period of time.

Here's the part that will clear it all up.

You can't make a trade decision until the bar closes. Strat says he uses the New York 5pm close.

What if you don't use a broker that has bars that close at 5pm New York time?
What if you live in a time zone that makes the New York close impossible.

It's difficult to take a candle shape based on a partial day and trade from it...Here's your solution:

FXPro (US version) starts a new candle at the 5pm New York close
IBFX (US version) starts a new candle at the beginning of the Asian session
MBTrading (US version) starts a new candle at midnight US time (4am GMT)

This isn't a plug for any particular broker, I'm just pointing out that you can find a broker that has candles that close when you need them to.

I'll spell it out.

When you see it posted "you can only trade what you see", that isn't meant as a cryptic reply that you'll never be able to decypher. It simply means "I'm using my brokers candles to explain a certain point, which you can see when I post my chart". Your task is to see the PA being referred and watch for that scenario on your chart at some point in the future.

So...pick a broker that has candles that close when you need them to if you can't make the 5pm New York close. It's OK if your charts don't match Strat's or Blackeagle's or Alexandra's or Elitejets. Those are just examples. It doesn't mean your data isn't tradable.
  • #12,212
  • May 13, 2010 10:35pm May 13, 2010 10:35pm
Quoting mstandifer


FXPro (US version) starts a new candle at the 5pm New York close
IBFX (US version) starts a new candle at the beginning of the Asian session
MBTrading (US version) starts a new candle at midnight US time (4am GMT)




So...pick a broker that has candles that close when you need them to if you can't make the 5pm New York close. It's OK if your charts don't match Strat's or Blackeagle's or Alexandra's or Elitejets. Those are just examples. It doesn't mean your data isn't tradable.
Hi Marcus,

I would like to suggest FXPro's non-US version as well. Their daily candles start at midnight Cyprus time which I found odd initially but realised it coincides with NY close!

I use their demo version only for analysis; actual trading through another broker.

Having candles start at NY close also gets rid of the Sunday candles which is a relief for guys like me (100 EMA on the daily is exactly 20EMA on the weekly without the Sunday candles. Is there anyone else who is bugged by this??)

I think Strat's charts have the daily candle starting at midnight NY time but he has said he makes his decisions at NY close time. I wonder how he does that!

My apologies in advance to all who find this nitpicky..

Cheers,
Rajesh
  • #12,213
  • May 13, 2010 11:28pm May 13, 2010 11:28pm
Quoting strat
What a beautiful sight for PASR followers.
It is even more beautiful with SR lines.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD-WEEKLY.jpg Size: 210 KB
  • #12,214
  • May 14, 2010 2:20am May 14, 2010 2:20am
Quoting Grimweasel
Spot silver short anyone?? Poss 'rinsed' triple top after all time highs on Boss Chart. Only for seasoned traders really.
I'm watching SILVER but I ain't trading it. Instead I'm watching closely his big brother: GOLD
Gold & Silver are correlated and it seems to me that there are in a butch-bitch relationship type. From experience i can tell that GOLD is the butch. Silver will follow GOLD. So looking at GOLD chart I see that yesterday is an IB (candle 2).

For a bullish scenario, the high of candle 1 must be taken and a close above the high of candle 1 (12.05). Confirmation candle should do a HH and HL.

For bearish scenario, it has to be in reverse. The Low of candle 1 to be taken and the confirmation candle to make a LL and a LH, confirming candle 1 as swing high.

Anyway, who is currently long in GOLD, has now an opportunity to protect their gains with an aggressive SL at 1224-1225 or a less aggressive one at 1214. Given the steepness of the slope of the last wave up, i would go for an aggressive stop here.

Silver will follow GOLD eventually.
Attached Image (click to enlarge)
Click to Enlarge Name: gold_en.png Size: 36 KB
  • #12,215
  • May 14, 2010 2:43am May 14, 2010 2:43am
Hi mstandifer

Wish you had posted this earlier, like 6 months ago.

Last week in despair about my charts I threw out the old charting system and installed FX Pro. Now I am working on putting back all the PASR's.

How can I tell which close I am on? I have looked everywhere but no mention of version. On my chart the EURUSD closed on the daily yesterday at 1.25333 is that the same as you?

So much time wasted, one of these days I might even be ready to trade! forex!

I agree about your sentiment but it easier to have charts that look somewhat similar to everyelse.
  • #12,216
  • May 14, 2010 3:55am May 14, 2010 3:55am
Quoting stgeorge
Hi mstandifer

How can I tell which close I am on? I have looked everywhere but no mention of version. On my chart the EURUSD closed on the daily yesterday at 1.25333 is that the same as you?
Drop it down to hourly or less and see what time the current bar says it is.
My chart in UK says it is working on the 11.00 to 12.00 bar (11.51am bar if I drop down to 1 min to check), so I know my new daily started 11 hours 51 mins ago.

Local time for me is 9.51 am, which means 11 hours ago was 10pm local time. This equals NY close ... does that help?
wash, rinse, spin . . . repeat
  • #12,217
  • May 14, 2010 4:37am May 14, 2010 4:37am
Quoting stgeorge
Hi mstandifer

On my chart the EURUSD closed on the daily yesterday at 1.25333 is that the same as you?
Hi StGeorge,

You seem to be on FxPro's Cyprus server. So your daily candles will be starting at 5 PM New York time (midnight Cyprus).

My chart also closed at 1.25333. See attached.

Cheers,
R
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd.gif Size: 20 KB
  • #12,218
  • May 14, 2010 7:00am May 14, 2010 7:00am
Quoting Jideck
I still believe that the upwards move is gathering momentum but this is so slow coming.
Worker and Boss turned up, IMO, but Big Boss is still down. If we see a close above 95, then 95-102 zone would present us good trading opportunities. After 102, Big Boss will agree, too.
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPY-WEEKLY.jpg Size: 153 KB
  • #12,219
  • May 14, 2010 7:18am May 14, 2010 7:18am
Quoting PistolDave
The AUDCAD market has been in a sideways channel for the past three months and finally appears to be breaking out to the downside.
It looks like AUDCHF has been a better choice for trend traders since November last year compared to AUDCAD.
Attached Image (click to enlarge)
Click to Enlarge Name: AUDCHF-MONTHLY.jpg Size: 148 KB
  • #12,220
  • May 14, 2010 9:06am May 14, 2010 9:06am
Now why didn't I think of that!!!!

Thanks

NY it is
21 traders viewing now