Strat's Long Term Stress Free Trading | Page 649 | 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

  • #12,961
  • Jul 9, 2010 10:28am Jul 9, 2010 10:28am
Quoting strat
[color=Blue][i][b]Boss: Rejected...
2) The hammer is at SUPPORT and therefore cancels out the July 8 BEOB
But surely this is only until price breaks down through the support?
The 8 July candle did break support but could not hold and closed just above.

hcristea gave you a very good answer. Just to reinforce the message, unlike other SR methods where they look for bounces off support and resistance, my PASR method does not care whether it bounces, stalls or slices through SR. Whatever PRICE does at SR is PRICE ACTION.

In this particular case, as hcristea posted, the closing candle was not a hammer (PRICE reversal candle) so we would have no reason to look for a long position.

Does this help or is it more confusing?

3) Could you please post one or more charts showing how you identify the ascending triangles.

See attached

4) Do you consider PASR ATM trades permissible within the boundaries of the triangles?

My ATM trades can be anywhere where ALL the conditions, variables, confluences, pair correlation etc., meet/line up. These do not happen very often but when they do, it is better than......(fill in the blanks).
Attached Image(s) (click to enlarge)
Click to Enlarge Name: usdcad big boss triangle.gif Size: 38 KB
Click to Enlarge Name: usdcad boss triangle.gif Size: 40 KB
Click to Enlarge Name: usdcad worker triangle.gif Size: 45 KB
15 YEARS OF PASR ON FOREX FACTORY!
  • #12,962
  • Jul 9, 2010 10:46am Jul 9, 2010 10:46am
Quoting kalvind
I understant and accept Strat's trend lines going through the close of a candle rather than the shadow. However I have seen many charts where the Fibs are placed on the candle shadows rather than on the main body? Where should the Fibs be placed.
However I am not using fibs at the moment so early in the path of understanding this strategy but am just curious.
Another point is I cannot find anything on where to place the 20ema,50sma, 100ema & 250sma. I have put all of them on the "close". Please clarify.
Final note to Strat, I am in the process...
I understant and accept Strat's trend lines going through the close of a candle rather than the shadow. However I have seen many charts where the Fibs are placed on the candle shadows rather than on the main body? Where should the Fibs be placed.

hcristea again did another fine job at answering your post - does this explain it?

Another point is I cannot find anything on where to place the 20ema,50sma, 100ema & 250sma. I have put all of them on the "close". Please clarify.

Yes, they are all set to close. However, the difference between the various options on MAs is SO SMALL that it makes NO DIFFERENCE. I get a good laugh when I read someone saying to set MAs to the Weighted close. If that makes a difference in their trading then they must truly be able to spot the fly shit in the pepper pot!

Final note to Strat, I am in the process of reading through everyone of your posts and man you "Rock". Ignore the skeptics they may come and "Roll" but those who love the music will always listen to the man from Britain.

Thanks but you must never have heard me play and sing! It has been said that Buddy Holly turned over in his grave in disgust!
15 YEARS OF PASR ON FOREX FACTORY!
  • #12,963
  • Jul 9, 2010 11:09am Jul 9, 2010 11:09am
Speaking with only prejudge without any evidence, as if you have known my actual performance. How do you know I did not spend time and hard work???? I spent about 2 full year!!!! This line of conversation with you finished!

Quoting strat
The first lot I read before seeing through your bravado were hours, days and weeks old! You need to face facts that dreaming about becoming a trader will NOT make you a trader - IT TAKES TIME and HARD WORK!
  • #12,964
  • Jul 9, 2010 11:10am Jul 9, 2010 11:10am
Quoting dorellino
open thread tools (top right)
click on: show printable version
click on: Show 40 post(s) from this thread on one page
Thanks dorellino.
  • #12,965
  • Edited 11:39am Jul 9, 2010 11:22am | Edited 11:39am
Quoting LarryK
Long time since I posted and feel I owe an explanation of sorts.

My trading experience during june was not a good one, and has forced me to take a hard look as to why that happened. I was guilty of overtrading for starters, and trying to get back my losses which naturally made them worse, but most of all I found myself taking too much notice of what I read here and elsewhere instead of looking at what MY charts were telling me.

So I am now being very strict about NOT trading because someone somewhere had a setup that they liked, unless I see...
Long time since I posted and feel I owe an explanation of sorts.

Not necessary - but we'll listen!

My trading experience during june was not a good one, and has forced me to take a hard look as to why that happened.

Apparently June was a losing month for others too. I was telling CrudeCraig elsewhere that a trading buddy of 20+ years bank trading experience also had a losing month in June. A bit difficult for me to understand because I told you all that I had told the big boys to drive the $ up before June so that I could get a good exchange rate for my GBP and EUR. After June they can let it back down again!

I was guilty of overtrading for starters, and trying to get back my losses which naturally made them worse,

Revenge trading and over trading are IMPATIENCE and lack of DISCIPLINE. Until you can control your emotions, you will forever struggle with this.

but most of all I found myself taking too much notice of what I read here and elsewhere instead of looking at what MY charts were telling me.

This is due to a lack of CONFIDENCE in YOU and your METHOD. If you only remember one thing remember this:

YOU and YOU ALONE are responsible for YOUR success, financial or otherwise. NEVER rely on others to make YOU a success.

So I am now being very strict about NOT trading because someone somewhere had a setup that they liked, unless I see and like a setup on MY chart I am sitting on my hands.

Good! Now make sure you maintain this DISCIPLINE. Also keep practicing on thousands of charts to drive home the method.

My trading strategy is exactly in line with the teaching on this thread, although I am taking a lot more notice of fib levels relative to SR and if there is no PA that I want then I am passing no matter how much I like the rest of the setup.

Good. You are taking the basics and tuning them to suit your personality. As good as Fibs are they are second best to PASR. Do not miss out on a good PASR opportunity just because the Fibs are not correctly aligned

I have found the teaching on this thread so helpful at arriving at a situation where I know what to do and how to do, and I am having success now in overcoming the gremlins, which is SO difficult that I fight them every day with every trade.

Controlling your GREED and FEAR emotions are far more important than any of my technical teachings on this thread.

When I think I am able to comment on someone else's post you will know that I have finally achieved the level of success that I have set out for myself. So that may be quite a long time away.

You will miss a huge part of your learning process by doing this. The interchange of comments by those learning PASR is much more valuable than my teachings.

In the meantime I hope that this thread continues to help those who are prepared to make the effort to read and understand this thread, it is a veritable gold mine for anyone who wants to become a successful trader.

A heartfelt thanks to Strat, Alex and Nic and the others whose expertise is so easily shared and appreciated, they do not spoonfeed just point the way, some more gently than others!

I got the message but there is method to my madness and quite honestly some that appear on here really do need a stiff kick up their backside!
15 YEARS OF PASR ON FOREX FACTORY!
  • #12,966
  • Jul 9, 2010 11:36am Jul 9, 2010 11:36am
Quoting kalvind
Hi Folkes,
I am starting the journey and have put together a checklist for monitoring a possible trade. Obviously I am using charts but wanted to qualify that I am looking at the correct signs in the three time frames. Obviously as I get more experienced I may not need to use this checklist but want a disciplined approach to trading.
I do not know DSRI, and have been advised to stay away from it?
Feel free to change the spread sheet and any help/advise would be welcome.
I understand the need at your early stage for a checklist but I always find them to be prohibitive, rigid and restrictive in the learning process.

If you need a checklist to trade then it tells me you don't UNDERSTAND the method.

If you UNDERSTAND the method until you can do it while hanging from the Golden Gate bridge by one arm with your eyes closed, you will not need a checklist.

If you have not heard this before, then you have not read and UNDERSTOOD the thread.
15 YEARS OF PASR ON FOREX FACTORY!
  • #12,967
  • Jul 9, 2010 11:40am Jul 9, 2010 11:40am
Quoting LarryK
Long time since I posted and feel I owe an explanation of sorts.

My trading experience during june was not a good one, and has forced me to take a hard look as to why that happened. I was guilty of overtrading for starters, and trying to get back my losses which naturally made them worse, but most of all I found myself taking too much notice of what I read here and elsewhere instead of looking at what MY charts were telling me.

So I am now being very strict about NOT trading because someone somewhere had a setup that they liked, unless I see...
Hi Larry,
It is a learning experience traders have to go through. We will know it when we are trading through the next ten years. Noticed Strat took vacation in June(that alone weights 3 years experience)
  • #12,968
  • Jul 9, 2010 2:13pm Jul 9, 2010 2:13pm
Learning By Doing. The next time Strat or Marcus make a post similar to the one below... try this...

Quoting strat
USDJPY...
Students of the method should look at Strat's post but not read the commentary right away. Simply look quickly at the pairs being referenced, for example USD/JPY in the above post is pair number one. THEN the student should do his own commentary after looking at the BB the B and W on his own charts. Then once he has come up with his own commentary COMPARE Strat's commentary with his own.

The method is done in this order.
1. Determine the pair Strat is commenting on. 2. The student makes his own commentary (could be in writing to keep him honest) w/o looking at strat's commentary. 3. The student now compares his commentary with Strat's. 4. Go on to the next pair. Repeat.

This is learning by doing... and using Strat's posts as the standard for comparison. Eventually the trader should be able to have confidence in his own commentary.
  • #12,969
  • Jul 9, 2010 2:27pm Jul 9, 2010 2:27pm
It's been six months now that I'm lurking and studying. Recently I had an epiphany that clearly showed to me that at least the basics of my learning curve are correct.
What is this then?
When I look at any indicator I feel shivers in my back !
Have a nice week end all!
Max
  • #12,970
  • Edited Jul 10, 2010 3:13am Jul 9, 2010 9:31pm | Edited Jul 10, 2010 3:13am
Anybody else experiencing this problem?

Anybody know the cause and remedy?

Charts are normal up to the Friday's close.

Problem experienced Saturday morning, after close of the markets for the week.

Problem is the same across all time frames, and all pairs
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd saturday 10 july.jpg Size: 134 KB
"Make everything as simple as possible, but not simpler" Albert Einstein
  • #12,971
  • Jul 10, 2010 1:30am Jul 10, 2010 1:30am
Quoting No1Optimist
Anybody else experiencing this problem?

Anybody know the cause and remedy?

Charts are normal up to the last bar.

Problem experienced Saturday morning, after close of the markets.
Its a glich in the price data. It happens on some of the other platforms i have every once in a while. Not sure on a fix for it sometimes they seem to get fixed and others i still have bad data on??

I have IBFX for my live feed and my EU chart is still ok.
  • #12,972
  • Jul 10, 2010 1:53am Jul 10, 2010 1:53am
Quoting CrudeCraig
Its a glich in the price data. It happens on some of the other platforms i have every once in a while. Not sure on a fix for it sometimes they seem to get fixed and others i still have bad data on??

I have IBFX for my live feed and my EU chart is still ok.
Thanks Craig, it's demo so no real harm done yet.

It's right across all the 18 or so charts I monitor. Hope they sort it out soon.
"Make everything as simple as possible, but not simpler" Albert Einstein
  • #12,973
  • Edited 2:38am Jul 10, 2010 2:15am | Edited 2:38am
Quoting No1Optimist
Anybody else experiencing this problem?

Anybody know the cause and remedy?

Charts are normal up to the last bar.

Problem experienced Saturday morning, after close of the markets.
No1
It looks like a bad glitch on your data feed. I have an IBFX account and it closed as normal.

The best way to fix it for now is to go into TOOLS/HISTORY CENTRE,

Double click on EURUSD, then Double click DAILY, In the pop-up window highlight the last days data, click on edit, this brings up a second pop-up window where you can change any of Open,High, Low or Close.

Note that this fix is only temporary until you turn off your computer, if the bad data stays in your History Centre, you will need to do these changes every time you turn on your PC untill the end of the Month, When August starts your changes will then stay permanent. It's a pain but if you don't do it it throws all MA's out.


Roy

PS Strat, happy belated Birthday.
Polishing my crystal ball
  • #12,974
  • Jul 10, 2010 3:34am Jul 10, 2010 3:34am
Quoting No1Optimist
Anybody else experiencing this problem?

Anybody know the cause and remedy?

Charts are normal up to the Friday's close.

Problem experienced Saturday morning, after close of the markets for the week.

Problem is the same across all time frames, and all pairs
I got the following message from Interbank FX, check your MT4 mailbox.

"we will be changing how orders are carried out within the Metatrader4 platform. We will be adding Precision Pricing (5th decimal pricing) and moving from Instant Orders to Market Orders.

Demo servers will be migrated to the new configuration on July 10, 12 a.m. ET."

I have the same problem, while they add 5th decimal, all curreny values were divided by 10 somehow.
  • #12,975
  • Jul 10, 2010 8:31am Jul 10, 2010 8:31am
There are many posts about drawing trendlines. Blackeagle has a lesson posted early in the thread (within the first 200 pages) about how to draw trendlines and S&R lines also. Both are based on the close. And Strat uses the close as well and also has said, as long as the t/l makes sense to YOU. But I remember also that it shouldn't be "a bag of shit".

Quoting simpleman
Hi Kalvind,
Trendline are drawn for high or low of the candle and not the close of the candle. If you see drawn from close to close then they are DSRI. DSRI's were discussed in the thread but because of advance nature they are not taught on this thread.
Fib and TL, I don't think have any connection.
  • #12,976
  • Jul 10, 2010 11:25am Jul 10, 2010 11:25am
Quoting 30XTCi
No1
It looks like a bad glitch on your data feed. I have an IBFX account and it closed as normal.

The best way to fix it for now is to go into TOOLS/HISTORY CENTRE,

Double click on EURUSD, then Double click DAILY, In the pop-up window highlight the last days data, click on edit, this brings up a second pop-up window where you can change any of Open,High, Low or Close.

Note that this fix is only temporary until you turn off your computer, if the bad data stays in your History Centre, you will need to do these changes every time you turn on...
PS Strat, happy belated Birthday.

Thanks Roy, it was spent in Killarney, Ireland, pouring lots of the black stuff down my neck with our Welsh cousins (from Maesteg, Nantyflon and Bridgend) and our English long time friends from Yorkshire.
15 YEARS OF PASR ON FOREX FACTORY!
  • #12,977
  • Edited 6:24pm Jul 10, 2010 3:02pm | Edited 6:24pm
Quoting MoneyMaker
There are many posts about drawing trendlines. Blackeagle has a lesson posted early in the thread (within the first 200 pages) about how to draw trendlines and S&R lines also. Both are based on the close. And Strat uses the close as well and also has said, as long as the t/l makes sense to YOU. But I remember also that it shouldn't be "a bag of shit".

For the purpose of Strat's teachings, these are the definitions as Simpleman indicated.

TL - Drawn at the high or low of the candle (at swing high or low)

DSRI- Drawn at the close of the candle ( at swing high or low)


Beginners must use TL only, until they fully understand how to use them.
DSRI is for more advanced/experienced traders who understand how to use them.

Also Blackeagle has some excellent posts on page 1 for plotting S/R levels.

Hope that clears that up a little.
  • #12,978
  • Edited 8:39pm Jul 10, 2010 4:11pm | Edited 8:39pm
Quoting Blackeagle
I got the following message from Interbank FX, check your MT4 mailbox.

"we will be changing how orders are carried out within the Metatrader4 platform. We will be adding Precision Pricing (5th decimal pricing) and moving from Instant Orders to Market Orders.

Demo servers will be migrated to the new configuration on July 10, 12 a.m. ET."

I have the same problem, while they add 5th decimal, all curreny values were divided by 10 somehow.
Thanks for the feedback, and BTW it is good to see a post from you again.

I did read the email from IBFX about the 5th decimal place.

After reading 30XTCi's reply (Thanks a lot 30XTCi) I went into the MT4 history centre and found that all the data after 27 or 28 June has been replaced with data with the decimal point shifted 1 place to the left, effectively dividing price by 10.

This has prevented the affected bars from being rendered correctly and played merry hell with the MAs.

I have attached a screen shot for reference.

I am not sure how they can replace data retrospectively, as I thought the new data received each time we log in to the MT4 account, was stored in our own computers, but that is what has happened.

I have sent an email to IBFX, which I imagine was one of hundreds, so I expect they will sort the matter out

UPDATE: 1.30 GMT Sunday. IBFX has finally corrected this data problem
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD data.jpg Size: 179 KB
"Make everything as simple as possible, but not simpler" Albert Einstein
  • #12,979
  • Jul 10, 2010 9:10pm Jul 10, 2010 9:10pm
Quoting strat
[color=Blue][i][b]2) The hammer is at SUPPORT and therefore cancels...
Just to reinforce the message, unlike other SR methods where they look for bounces off support and resistance, my PASR method does not care whether it bounces, stalls or slices through SR. Whatever PRICE does at SR is PRICE ACTION.

Does this help or is it more confusing?

In few words "crystal clear", and a big thanks.

This is a "light bulb"statement for me. Having studied the whole thread, and the extra material in the members only area, I have never seen PA so clearly or succinctly explained.

I have another question about the comment you made, addressed to Nicola on one of your charts showing triangle plots.

I thought that the terms TRIANGLE and COIL were synonymous. Apparently not, according to your note to Nicola.

Could you please explain the difference?
"Make everything as simple as possible, but not simpler" Albert Einstein
  • #12,980
  • Jul 11, 2010 5:21am Jul 11, 2010 5:21am
Well the world cup has been fantastic and has detracted from my trading a lot, I am looking forward to a good game tonight and the markets are still here, it is also nice to have my DSL back after being down for a week. I have been looking at the EUR/USD and wonder if I am maybe being a little impatient or need to rebuild discipline but I am looking short for the short term.
Big Boss
LH Nov 2009
LL June 2010
20/50 MA indicate possible change of trend down.
Boss
Approaching 20 and trendline resistance
Worker
Making HH HL’s
Strat you said we should look to buy on any retrace with a target of 1.27.28
I do get and understand why you say this, as Big Boss and the Boss have completed swings and are pointing upward.
What I’m asking is based on the charts is a selling that retracement not a good trade too.
Of course waiting for PA.
Thanks Frank
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EURUSD1172010BB.jpg Size: 229 KB
Click to Enlarge Name: EURUSD1172010Boss.jpg Size: 245 KB
Click to Enlarge Name: EURUSD1172010worker.jpg Size: 220 KB
7 traders viewing now