Strat's Long Term Stress Free Trading | Page 646 | 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

  • #12,901
  • Jul 6, 2010 10:30pm Jul 6, 2010 10:30pm
Quoting strat
the thread has been a bit lame recently

Agree. Recent activity leads me to believe its time to let go and move onto other bigger and better things
Strat,

I have been disappointed lately as well while you were away,it appears you are the life of the party! In all seriousness I apologize for not being able to contribute more to the thread after reading and studying your teaching for nearly a year now. I get really pissed when one of the lurkers[or wankers!] jumps in and try's to interrupt the people that really want to learn. 2010 has not been as good as I hoped for so far, but my account is at even for the year and I consider that capital preservation. I have made quite a few good trades and got more pips than ever before and then gave most of it back on a couple of trades, but all within my money management of 2%. Still need some work on the little people with the winners! I took a bit of a break while you were away as well to try get the fog out of my eyes, now back to work.


As always,

Still studying and many thanks,

Poncho
" I can read the left side of the chart, the right side's a Bitch!
  • #12,902
  • Jul 7, 2010 2:10am Jul 7, 2010 2:10am
I was stopped out overnight, I had a feeling that the stop at breakeven was too soon. I wil reenter on the break of the bullish engulfing bar
If you can wait and not be tired by waiting...
  • #12,903
  • Jul 7, 2010 7:01am Jul 7, 2010 7:01am
Quoting glyder
Weekly = Up, although it has been having troubled times lately

on the daily a higher low with a shooting star set up provided my entry signal
Hey Glyder,

Great to see you posting! Here are my AUD/USD charts. You may be missing a few S/R lines so your long trade path may be full of hurdles.

If you look at the May Big Boss Candle it shows that Sellers had a field day trying to correct the last years worth of bullish activity. June printed a Doji which indicates profit taking or uncertainty and its also an inside bar. So I’m thinking that price may be a bit rangy until a close above that doji top or below the May candle.

Looking to the Boss we see a hanging man (gasp not him again) bouncing off of the 20 and the 8800 level and a large supply candle bouncing slightly off the 20 and closing below the Big Boss 20 and into the 3 bar range from May.

On the Daily we haven’t seen a close above 8800 yet so I’m not excited for another long just yet as we have to plow through 20/50 mas, 8600 and I would like to see a resolution of the supply/demand wedge before I start thinking anything other than ATM longs.

I just closed out a short (off the Canada Day Candle (Happy Bday Canada!)) as I was short on the 21 of June bar due to bond shooting star, resistance, bumping into the boss 20 and the gap.

Elite Jets mentioned to be watching this pair and I have been frustrated in the past missing PA on a big boss 20 bump so I was tuned in this time.

Keep in mind I’m on the path so this is what I see at my current level. I hope to get better at this sort of thing, but as Strat says its practice on 1000s of charts then practice on 1000’s of charts.

Looks like I have more practicing to do! Hope this helps. Cheers.

John
Attached Image(s) (click to enlarge)
Click to Enlarge Name: audusdmonthlyjuly07.gif Size: 16 KB
Click to Enlarge Name: audusdweeklyjuly07.gif Size: 15 KB
Click to Enlarge Name: audusddailyjuly07.gif Size: 16 KB
Finally out of the shadows.
  • #12,904
  • Jul 7, 2010 7:55am Jul 7, 2010 7:55am
Quoting No1Optimist

You need not doubt that every minute you have spent is highly valued by many novice traders who have a very strong desire to become consistently profitable by applying your methods.

A big, heartfelt thanks again from me, Roger
I agree, good one
  • #12,905
  • Jul 7, 2010 8:33am Jul 7, 2010 8:33am
Quoting gaf

I just closed out a short (off the Canada Day Candle (Happy Bday Canada!)) as I was short on the 21 of June bar due to bond shooting star, resistance, bumping into the boss 20 and the gap.


John
Hi John,

Couple of newbie questions:
Even though the Worker chart looked ripe for a short, on the Boss chart, the two weekly candles prior to 21st June were strongly bullish. I wanted to short but didn't because of these candles. What was your interpretation of the Boss trend?

Secondly, the shooting star was at the end of an uptrend and turned out well, didn't it? Why do you call it 'Bond'?
  • #12,906
  • Jul 7, 2010 8:41am Jul 7, 2010 8:41am
Quoting Raje$h
Why do you call it 'Bond'?
Reading the thread would have obviously answered this question.
  • #12,907
  • Jul 7, 2010 8:48am Jul 7, 2010 8:48am
Quoting gaf
Hey Glyder,

Great to see you posting! Here are my AUD/USD charts. You may be missing a few S/R lines so your long trade path may be full of hurdles.

If you look at the May Big Boss Candle ......

Hi Gaf,
many thanks for your insights.
I definitely should have looked up to monthly - I think that is what Strat calls the control bar.
Also the trendlines -Id missed those thanks that changes the look of the chart and my target if the BUEB triggers.
If you can wait and not be tired by waiting...
  • #12,908
  • Jul 7, 2010 9:00am Jul 7, 2010 9:00am
Quoting strat
If the pattern holds true, this should take us back into the consolidation area at 1.33
Just closed my long orders for a small profit as London was not able to support the break of resistance. Will watch to see what NY does.
15 YEARS OF PASR ON FOREX FACTORY!
  • #12,909
  • Jul 7, 2010 9:04am Jul 7, 2010 9:04am
Quoting MoneyMaker
Reading the thread would have obviously answered this question.
Hey, go easy, give the guy a break! What you see on your charts may not be what he sees on his due to different broker feeds/data.
15 YEARS OF PASR ON FOREX FACTORY!
  • #12,910
  • Jul 7, 2010 9:12am Jul 7, 2010 9:12am
My sincerest apologies if it sounded harsh. I was only stating it matter-of-factly. And only in reference to the "bond" statement..... not all things are what they seem.
  • #12,911
  • Jul 7, 2010 9:17am Jul 7, 2010 9:17am
Quoting glyder
Weekly = Up, although it has been having...
I am trying all I can to not look at the PA during the day and check bars at the close - I know this is the key to stress free trading, but I first have to overcome the stress of not looking during the day !!!!

John, it's only DISCIPLINE! If you have the DISCIPLINE to only trade at NY close then you can look during the day to your heart's content.

Since I am doing lots of systems, cycles and momentum work during the day, I am looking at the charts ALL day AND different time frames BUT I only trade the Worker AND only after NY close.

Its no different than seeing a beautiful girl and wanting to have sex with her - it's all about DISCIPLINE.

The trouble and strife told me a long time ago that I could always look at the menu as long as I didn't order. (Thankfully there are take aways!)
15 YEARS OF PASR ON FOREX FACTORY!
  • #12,912
  • Jul 7, 2010 9:27am Jul 7, 2010 9:27am
Quoting glyder
This trade is taken from the break of the weekly shooting star [correction: Hammer] (order filled today)
The weekly is in an uptrend over the long term, but has wobbled lately, bu tlooking left to right across the screen the long term uptrend is intact.
However the shooting star is at a ,long term level of support /resistance.

Stop loss is still tucked behind the low of yesterday's daily bar.

Target is 0.8600
but exit will be via stop loss.

I've a feeling that this is not quite a trade according to Strats planning because it is taken from...
I've a feeling that this is not quite a trade according to Strats planning because it is taken from the weekly bars without reviewing the dailies. (there may well be other reasons too of course)

This IS PASR trading BUT on the Boss. If you are comfortable with your SL, there is nothing wrong with doing this. It is usually the size of the SL which prevents many from trading the Boss.

You may be a bit premature with your trade. I would want to see 0.84 taken out before getting my wallet out.
15 YEARS OF PASR ON FOREX FACTORY!
  • #12,913
  • Jul 7, 2010 9:35am Jul 7, 2010 9:35am
Quoting earthspa
Hi Strat, I've been reading and i hope understanding this thread for 4 months and i've never posted anything cause i didn't feel like i deserved your audience and still don't. However I AM learning about long term trading by following your advice and those of the other seniors. This site is exciting, its funny, it makes me cringe sometimes cause i see myself in the others who sometimes stumble on the path. I have a lot to learn. I apprenticed as a wooden boatbuilder for 4 years before i was allowed to head a crew and build a boat myself. I consider...
I did a 7 year Graduate Mechanical Engineering apprenticeship and still cannot engineer anything so you are many steps ahead of me, boat builder!

All registered students on The Path of Learning are entitled and encouraged to post PROVIDING they have read and UNDERSTOOD the thread first. Yes, the thread is long but so is life.
15 YEARS OF PASR ON FOREX FACTORY!
  • #12,914
  • Jul 7, 2010 9:52am Jul 7, 2010 9:52am
Quoting poncho1
In reference to post 12486, Weekly, Monthly, and half Year analysis.


GBPUSD

Big Boss fighting strong down trend= I clearly see that.

Boss in full support of Big Boss= Not so clear.
This is where I am struggling. I see the Boss has made several bull candles, but has not made a HH yet. I also see that the May BEEB is still in control....
GBPUSD

Big Boss fighting strong down trend= I clearly see that.

Boss in full support of Big Boss= Not so clear.
This is where I am struggling. I see the Boss has made several bull candles, but has not made a HH yet. I also see that the May BEEB is still in control.

Very good - you are SEEING the action.

I know you are not suggesting that this is a trend trade and it will be treated as CT, so at my skill level I will wait to see what happens at 1.55.


Still studying, - me too!

The Boss is in an immediate uptrend so it is supporting the Big Boss. However it is still technically in a down trend as it is still making LHs and LLs. This current Boss swing will tell us more about the trend. PRICE needs to make a new swing high above 1.55 for us to think long.
15 YEARS OF PASR ON FOREX FACTORY!
  • #12,915
  • Jul 7, 2010 10:35am Jul 7, 2010 10:35am
Welcome back Strat!

Quoting strat
Just closed my long orders for a small profit as London was not able to support the break of resistance. Will watch to see what NY does.
Did you close it intraday after London failed to break higher? It is a bit confusing, it looks to me that it is consolidating above strong support at 1.25.
Trading = a mirror to your human flaws. Fix them or be fixed.
  • #12,916
  • Jul 7, 2010 10:50am Jul 7, 2010 10:50am
Quoting soso
Welcome back Strat!



Did you close it intraday after London failed to break higher? It is a bit confusing, it looks to me that it is consolidating above strong support at 1.25.
This was a 50/50 trade and because it wasn't working out as I thought it should I just pulled the plug when I opened my charts (after London trading).

In other words, the reason why I went long was no longer there
15 YEARS OF PASR ON FOREX FACTORY!
  • #12,917
  • Jul 7, 2010 11:12am Jul 7, 2010 11:12am
Quoting Raje$h
Hi John,

Couple of newbie questions:
Even though the Worker chart looked ripe for a short, on the Boss chart, the two weekly candles prior to 21st June were strongly bullish. I wanted to short but didn't because of these candles. What was your interpretation of the Boss trend?

Secondly, the shooting star was at the end of an uptrend and turned out well, didn't it? Why do you call it 'Bond'?
Hey Raje$h,

They're good questions.

I wouldn't have taken that sort of trade before but it looked like conditions were favorable for a short, many times in the past I've missed the interaction of price with the boss 20 so I was tuned to that. Buyers though strong, failed to close price convincingly above 8800 on the weekly and I was tuned into that.

Plus the Gap, Sunday spinning top on resistance, and then the bond candle on the worker. It was a decent looking shooting star (tip rejected at the 8860 level, which is also the top of the controlling monthly candle check out the line chart; I didn't notice that at the time) but it showed some buying pressure (bottom shadow) so I called it a bond.

The previous 2 weeks of buying pressure made this more risky and I didn't have any illusions that this would be a trend trade. I took profit at 100 pips and moved my stop to above the July 1st candle letting PA take me out of the trade.

Does this help?
Finally out of the shadows.
  • #12,918
  • Jul 7, 2010 12:54pm Jul 7, 2010 12:54pm
Quoting strat
This was a 50/50 trade and because it wasn't working out as I thought it should I just pulled the plug when I opened my charts (after London trading).

In other words, the reason why I went long was no longer there
Hi Strat,

I am still waiting for price to close above 127 and I think it will but let's see.
  • #12,919
  • Jul 7, 2010 1:35pm Jul 7, 2010 1:35pm
Good afternoon everybody,

Has anyone noticed GBPCHF this week?
BOSS: BEOB
BIG BOSS : BEEB
Attached Image (click to enlarge)
Click to Enlarge Name: gbpchf.gif Size: 22 KB
  • #12,920
  • Jul 7, 2010 2:26pm Jul 7, 2010 2:26pm
Quoting Rubens PP
Good afternoon everybody,

Has anyone noticed GBPCHF this week?
BOSS: BEOB
BIG BOSS : BEEB
Hi Rubens,
I am just waiting for it to go below 159/158. Looking valid set up.
Thanks
2 traders viewing now