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Strat's Long Term Stress Free Trading

  • #12,361
  • Edited May 21, 2010 4:25am May 20, 2010 9:20pm | Edited May 21, 2010 4:25am
Quoting Alexandra
Are we still debating the significance of this?
If EURUSD closes the week above 1.2594 it will be a bullish piercing line candle (Reversal pattern) on the weekly chart
  • #12,362
  • May 20, 2010 9:26pm May 20, 2010 9:26pm
Quoting Maverick731
Hammer,
Shooting Star,
BUOB, = bullish outerbar
BUEB = ?????
BEOB = bearish outerbar
BEEB = ?????

what are the above? englufing bars? if so whats the difference from outerbars?
For an engulfing candle the open and close have to be higher and lower than the previous bars open and close.
For an outside bar the high and the low have to be higher and lower than the previous high and low but the open and close could be close together, it is the tails that count.
  • #12,363
  • May 21, 2010 12:39am May 21, 2010 12:39am
Hi Strat and Craig,

First of all, I've have corrected my moving average color to match the Strat System palette. In addition to that I'm now using darker color for my S/R drawings for easy visuals.

I have here my S/R drawing practice on EURUSD. It is based on Blackeagle's S/R tutorials found on pages 516-517 (#7738, 7739, 7740, and 7741). I tried following his instructions to the “T” but if I miss something or created some errors in the process please correct me. I would like to learn the right way and the only way to do that is to respectfully ask experienced traders like you.

I started by looking at the BIG BOSS in line chart form. Plotted the green lines on obvious S/R points that have been tested several times. After, this process I switched to candle stick and adjusted the lines using the highs and the lows as well as the opening and close.

I then switched to the BOSS in line form and added blue S/R lines that were quite obvious in this particular time frame. Switched to candlestick and modify my lines in the same manner as the above.

Finally, the WORKER chart is where I verified all these SR lines and made the necessary fine tuning and or line adjustment if needed.

I'm attaching the charts for your visual review.

The Big Boss:
http://i689.photobucket.com/albums/v...21_monthly.gif

The Boss:
http://i689.photobucket.com/albums/v...y21_weekly.gif

The Worker:
http://i689.photobucket.com/albums/v...ay21_daily.gif

Furthermore, I also tried my feel on drawing FIBS on the Worker. I'm not really familiar with this tool yet just the basic plot the fibs using swing highs and swing lows (vice versa). I'm including it here for any comments or suggestions.

The Worker with Fibs
http://i689.photobucket.com/albums/v...daily_fibs.gif

Thank you very much and have a nice weekend!

elPips
  • #12,364
  • May 21, 2010 1:31am May 21, 2010 1:31am
Quoting Alexandra
Are we still debating the significance of this?
not any more
  • #12,365
  • May 21, 2010 2:24am May 21, 2010 2:24am
Quoting Flem26
Don't let China fool you. They are in big trouble too. ..
De Ja Vue.... someone said the same thing to me about 10 years ago and I didn't believe it, they are growing 10% pa. on average since last 10 year. I can see writing on the wall and applying the same theory as Dr. Joe's.
  • #12,366
  • May 21, 2010 6:39am May 21, 2010 6:39am
Quoting simpleman
De Ja Vue.... someone said the same thing to me about 10 years ago and I didn't believe it, they are growing 10% pa. on average since last 10 year. I can see writing on the wall and applying the same theory as Dr. Joe's.
As Alexandra says "that's what makes a market". You have your opinion, I have mine. I wish had your confidence. Call me a skeptic.
"Don't trade to trade . . . trade to win." - James16
  • #12,367
  • May 21, 2010 6:59am May 21, 2010 6:59am
Quoting Flem26
Don't let China fool you. They are in big trouble too. Many accountants can't make sense of their bank balance sheets.
You are the one being fooled then. The Sleeping Giant is doing very well.
15 YEARS OF PASR ON FOREX FACTORY!
  • #12,368
  • May 21, 2010 7:53am May 21, 2010 7:53am
Quoting strat
You are the one being fooled then. The Sleeping Giant is doing very well.
Like I said, call me a skeptic. I don't believe the hype.
"Don't trade to trade . . . trade to win." - James16
  • #12,369
  • May 21, 2010 9:21am May 21, 2010 9:21am
Quoting Flem26
Just a short pause before 1.18 and then parity. Too much dollar denominated debt out there still. King dollar rules your mule.
This is as a result of trolling short time frame threads and specific currency threads.

FOCUS on something, anything!
15 YEARS OF PASR ON FOREX FACTORY!
  • #12,370
  • May 21, 2010 9:36am May 21, 2010 9:36am
Quoting elPips
Hi Strat and Craig,

First of all, I've have corrected my moving average color to match the Strat System palette. In addition to that I'm now using darker color for my S/R drawings for easy visuals.

I have here my S/R drawing practice on EURUSD. It is based on Blackeagle's S/R tutorials found on...
Your Worker SR looks OK but I don't have 1.3455. I have psycho 1.2900. My values are different though probably because of data feeds.

Your Fib is OK but don't use it if you don't understand it.
15 YEARS OF PASR ON FOREX FACTORY!
  • #12,371
  • May 21, 2010 9:40am May 21, 2010 9:40am
Quoting Flem26
Like I said, call me a skeptic. I don't believe the hype.
Try visiting China and meeting with Government Leaders skeptic!
15 YEARS OF PASR ON FOREX FACTORY!
  • #12,372
  • May 21, 2010 9:53am May 21, 2010 9:53am
looks amazing sofar...

trying to figure out an entry strategy... I'm guessing off the close of one of the candle patterns. As I know my exit is the next s/r

I think I'm good in the s/r dept. but thats just drawing and scrolling through....
  • #12,373
  • May 21, 2010 10:03am May 21, 2010 10:03am
Quoting Maverick731
looks amazing sofar...

trying to figure out an entry strategy... I'm guessing off the close of one of the candle patterns. As I know my exit is the next s/r

I think I'm good in the s/r dept. but thats just drawing and scrolling through....
Wow, even simpler than I thought, that's ALL it is - I think I'm good in the s/r dept. but thats just drawing and scrolling through....
15 YEARS OF PASR ON FOREX FACTORY!
  • #12,374
  • May 21, 2010 10:09am May 21, 2010 10:09am
well I am watching live to see how it reacts around previously drawn levels along with how price is acting in general.

You can actually see on levels of BIGBOSS how prices stalls and likes to play around that area, and with certain candles break through sometimes.

Although candle formations are not always perfect, like it may be close to an OB or EB but not one by technical defiinition, you can see how its acting.
  • #12,375
  • May 21, 2010 10:26am May 21, 2010 10:26am
Quoting Maverick731
Hammer,
Shooting Star,
BUOB, = bullish outerbar
BUEB = ?????
BEOB = bearish outerbar
BEEB = ?????

what are the above? englufing bars? if so whats the difference from outerbars?
Hammer,
Shooting Star,
BUOB, = bullish outerbar
BUEB = ?????
BEOB = bearish outerbar
BEEB = ?????

what are the above? englufing bars? if so whats the difference from outerbars?

So, a member of FF since July 2008

You’ve been on the following threads and tried their method:

DIBS
Cyrox Simple Scalping
Scalping the Rainbow
J16
The Simple Stupid System
Lazy Day System
A Basic Breakout System

Don’t you think this is trying to TELL you something?

Its hardly surprising you don’t know what the above candles are.

This must qualify you as the Lurker and Troller – In – Chief!

You won’t like it on here – we ONLY trade the Daily chart by doing a once a day 2 minute chart analysis.

However, I can see you will go far - - - - - - and the further the better!
15 YEARS OF PASR ON FOREX FACTORY!
  • #12,376
  • May 21, 2010 11:00am May 21, 2010 11:00am
Quoting strat
Your Worker SR looks OK but I don't have 1.3455. I have psycho 1.2900. My values are different though probably because of data feeds.

Your Fib is OK but don't use it if you don't understand it.
Hi Strat,

Can't say enough thank you to all of you in this FX community. I'd like to learn and do FX trading very slowly by practicing bit by bit. I am not in a hurry this is a serious business that demands dedication, time, and effort. I'm ready and here is my basic plan:

1. Practice SR and Trendline drawings
2. Learn Candlestick
3. Learn PASR
4. Register myself in "The Path of Learning" by the time I'm eligible

I will continue to post my chart studies for any comments and suggestions. Good or bad give it to me, I am willing to learn.

Have a nice weekend!

elPips
  • #12,377
  • May 21, 2010 11:01am May 21, 2010 11:01am
That was a long time ago.

I've learned candles but your nomenclature was throwing me off. I wanted to make sure they were what I thought they were.

You have a nice attitude for such an "accomplished" trader. I don't plan on doing daily with this method. I'm scaling down the time frames to fit my days.

btw: trade on EU just awhile ago finished. B @ 1.2551, S @ 1.2595, stop was at approx. 1.2538. met bar criteria, higher tf criteria and s/r criteria
  • #12,378
  • May 21, 2010 11:09am May 21, 2010 11:09am
Quoting Maverick731
That was a long time ago.

I've learned candles but your nomenclature was throwing me off. I wanted to make sure they were what I thought they were.

You have a nice attitude for such an "accomplished" trader. I don't plan on doing daily with this method. I'm scaling down the time frames to fit my days.

btw: trade on EU just awhile ago finished. B @ 1.2551, S @ 1.2595, stop was at approx. 1.2538. met bar criteria, higher tf criteria and s/r criteria
You have a nice attitude for such an "accomplished" trader.

That's because I despise Lurkers and Trolls - had you read the thread, you would know that.

I don't plan on doing daily with this method. I'm scaling down the time frames to fit my days.

Don't expect any help from people on here then.
15 YEARS OF PASR ON FOREX FACTORY!
  • #12,379
  • May 21, 2010 11:11am May 21, 2010 11:11am
Quoting strat
This is as a result of trolling short time frame threads and specific currency threads.

FOCUS on something, anything!
Alright. Alright Strat I will. Trading can be a lonely business. I'm guilty of discussing the fundamentals from time to time. I get agitated when the mainstream media tries to say that everything is fine and dandy when in all actuality, it isn't. I was only joking with Alexandra about the Euro. I don't know or care if it goes to parity. Ultimately, the charts tell the story.
"Don't trade to trade . . . trade to win." - James16
  • #12,380
  • May 21, 2010 11:17am May 21, 2010 11:17am
I lurk because I have actually been away? busy with other things in life? Give it a break. I'm not going to read 500+ pages, I'm going to look and use the search button to find what I am actually looking for. Which btw searching for BUEB did not bring anything up, I had an ASSUMPTION but I wanted to make sure, hence asking. I'm not looking for a handout.

Take it easy. I don't want to do daily because my account would not be able to handle possible drawdowns. Ever think that something needs to be adjusted based on situation? I started with 4hr candles in forex, went to tick charts, now I'm back to higher timeframes.
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