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  • #13,161
  • Jul 22, 2010 4:14pm Jul 22, 2010 4:14pm
Quoting No1Optimist
Looking more promising after today's bar.
Hey Roger,
This is what I have got may be not correct.
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  • #13,162
  • Jul 22, 2010 4:22pm Jul 22, 2010 4:22pm
Hi Strat!

Thanks for test. This was a very good lesson for me.
The way you explained it, forced me to look at the Boss differently.

I can see now that paying attention to what it's doing, relative to preceding candles and swings is important in the analysis.

Everybody sharing their views on the same trade set-up, is a great way to learn also.
I hope you do more of these in the future.
  • #13,163
  • Jul 22, 2010 5:33pm Jul 22, 2010 5:33pm
Quoting hcristea
Hi Strat!

hmm... I'm not sure if your post confused me or clarified a few things. Maybe a mixture of both. I put a buy order which was activated and I lost. I lost on my own analysis and I'm fine with it. It was a calculated risk and I'm moving on.

I dont entirely understand your analysis of the Boss. Especially why you consider the current candle in the middle of the week and what is it telling you. Bounces will weight more in my future analysis when i will understand them.

The Boss bounced but since I'm trading the Worker, i'm looking at...
Hi hcristea !

Would'nt it feel safer and more stress free, if this same trade set-up
was 400/500 pips before Major R.

Maybe looking at it this way might help.
  • #13,164
  • Jul 23, 2010 12:17am Jul 23, 2010 12:17am
Quoting simpleman
Hey Roger,
This is what I have got may be not correct.
Think I agree with Strat on this one.

I should also say that I don't see or even look for coils, gartmores, butterflies, obi knobes or any other shapes you care to mention.

I can only see horizontal SR and for me I'm not interested in this pair until it gets to either 1.02 or 1.07 - but thats just me.

All I see is a range since last October.

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  • #13,165
  • Jul 23, 2010 4:14am Jul 23, 2010 4:14am
[quote=stewrigh;3894073]
I can only see horizontal SR and for me I'm not interested in this pair until it gets to either 1.02 or 1.07 - but thats just me.

/quote]

Thanks for the reminder Stewrigh.
  • #13,166
  • Jul 23, 2010 5:07am Jul 23, 2010 5:07am
[quote=simpleman;3894677]
Quoting stewrigh
I can only see horizontal SR and for me I'm not interested in this pair until it gets to either 1.02 or 1.07 - but thats just me.

/quote]

Thanks for the reminder Stewrigh.
Reminder? Reminder?

Your only trading thoughts, dreams and nightmares should be Basic PASR

Why do you need reminding - have you lost the plot already?
15 YEARS OF PASR ON FOREX FACTORY!
  • #13,167
  • Jul 23, 2010 5:10am Jul 23, 2010 5:10am
[quote=simpleman;3894677]
Quoting stewrigh
I can only see horizontal SR and for me I'm not interested in this pair until it gets to either 1.02 or 1.07 - but thats just me.

/quote]

Thanks for the reminder Stewrigh.
No probs,

I just think shapes are too subjective and if you look hard enough you can find them all over the place. The fact I'm artistically challenged also helps.
  • #13,168
  • Jul 23, 2010 5:11am Jul 23, 2010 5:11am
[quote=strat;3894787]
Quoting simpleman

Reminder? Reminder?

Your only trading thoughts, dreams and nightmares should be Basic PASR

Why do you need reminding - have you lost the plot already?
  • #13,169
  • Jul 23, 2010 5:19am Jul 23, 2010 5:19am
Where have all the students gone, long time passing
Where have all the students gone, long time ago
Where have all the students gone, gone to graveyards everyone
When will they ever learn, when will they, ever learn?
15 YEARS OF PASR ON FOREX FACTORY!
  • #13,170
  • Jul 23, 2010 5:30am Jul 23, 2010 5:30am
[quote=stewrigh;3894796]
Quoting simpleman

No probs,

I just think shapes are too subjective and if you look hard enough you can find them all over the place. The fact I'm artistically challenged also helps.
I just think shapes are too subjective and if you look hard enough you can find them all over the place.

Well it's Friday night here; I just dodged my first typhoon and I'm off hunting my favourite shape, 44 - 24 - 34. Trouble is, all I see here is 24 -22 -24. Maybe a few bottles of merlot will help but there's no substitute for meat!
15 YEARS OF PASR ON FOREX FACTORY!
  • #13,171
  • Jul 23, 2010 5:39am Jul 23, 2010 5:39am
Strat,
Thanks for your comments.
Just to clarify - I really am not trying to trend trade, just trying to hold a PASR trade for the optimum time / to the optimum levels but I have a short termist attitude that I need to overcome..
Meanwhile, I'll keep my focus on analysis until I see a trade develop,

Have a Good weekend,

Quoting strat
thanks, waiting for a trade to progress through a consolidation rather than just take the profits of the table is a tough thing. I think I need to formulate some rules for it - taking partial profits and/or moving stops is what it amounts to I suppose,...
If you can wait and not be tired by waiting...
  • #13,172
  • Jul 23, 2010 5:43am Jul 23, 2010 5:43am
Quoting strat
Well it's Friday night here; I just dodged my first typhoon and I'm off hunting my favourite shape, 44 - 24 - 34. Trouble is, all I see here is 24 -22 -24. Maybe a few bottles of merlot will help but there's no substitute for meat!
44? you can substitute with 2 position of 24 if you can handle 4 pips more
  • #13,173
  • Jul 23, 2010 6:56am Jul 23, 2010 6:56am
[quote=strat;3894787]
Quoting simpleman

Have you lost the plot already?
I have just checked and my plot of land in front of Beach is still there, so I haven't forgotten it. How can I forget PASR when I use it every day.
  • #13,174
  • Jul 23, 2010 7:19am Jul 23, 2010 7:19am
was last night after I got home from work. I get home 15 mins before my platform closes at midnight EDT. Makes it nice that I can look at the charts for 20-30 mins before going to bed.

When I seen the setup, foolishly I entered @ market. A few minutes later I thought "what the hell are you doing dipshit, just because you have the a setup in the making, doesn't give you the right to just jump in willy nilly" I heard that voice in a british accent so I think it might have been Strat. So I closed it out and entered an order for a buy @ 5963, 10 pips above the hammer off support @ a significant support area @ 5900. Placed my stop a few pips below the hammer @ 5845 (for a risk of 118) and the target was placed at 6150 (for a reward of 187) giving me an R:R:R of 1.6:1.

I know what your thinking, why place that order in the sideways chop....well it's simple. Look at the support it's at, the trendline the sig # @ 5900, and doesn't that hammer just stick out like a sore thumb?? Absolutely no stress to this trade whatsoever. Could be the fact that it was just paper also, which is why I detest paper trading. Emotions are completely out of it.

So if anyone has comments, concerns, questions, constructive criticism I'm ALL ears.

oh and one last thing, I did see this trade as only an ATM trade due to the fact that BB abd B are down, thats why the target at 6150, 1st R. And the momentum of the downward trend is slowing, so it may be nearing the bottom.
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  • #13,175
  • Jul 23, 2010 7:38am Jul 23, 2010 7:38am
Quoting MoneyMaker
was last night after I got home from work. I get home 15 mins before my platform closes at midnight EDT. Makes it nice that I can look at the charts for 20-30 mins before going to bed.

When I seen the setup, foolishly I entered @ market. A few minutes later I thought "what the hell are you doing dipshit, just because you have the a setup in the making, doesn't give you the right to just jump in willy nilly" I heard that voice in a british accent so I think it might have been Strat. So I closed it out and entered an order for a buy @ 5963, 10...
Don't be too hard on yourself dipshit! You did good even though it is paper. Paper and demo trading will build your confidence in the method which you MUST have before trading real money. Keep doing the paper until your pinball wizard can do it then you MUST move to REAL money BUT with the lowest $/pip your broker has - THEN it will open up a new world of trading to you.

When you can do the same trade live, with real money, you will know you have taken a huge step on The Path.

If it helps, I took the same trade live as an ATM but only up to 1st R at 1.6150 - I left a lot of pips on the table but it doesn't mean diddly - I PLANNED my trade and traded the PLAN - nothing else matters.
15 YEARS OF PASR ON FOREX FACTORY!
  • #13,176
  • Jul 23, 2010 7:48am Jul 23, 2010 7:48am
Hello everyone, Strat

First Trade: Got filled on GBPUSD 1.5350 today, TP 1st position at 90pips and 2nd and 3rd positions got stopped @BE.
So no open positions for potential bullish move next week..
Moving SL @ BE is stress free but how often does one get stopped out remains to be measured.

Second Trade: Long order above last nights high on EURCAD, got triggered today@ 1.35, price after which the pair started downfalling.
Should have listened to Strat, avoid round numbers and put Long order @1.3510-20 (and YES, I have read Strat's post on EURCAD).

The hammer is the controlling candle until its bottom is taken out but I consider this to be a lost trade.


Have a nice weekend everybody
R
  • #13,177
  • Jul 23, 2010 7:51am Jul 23, 2010 7:51am
[quote=Rubens PP;3895252]

The hammer is the controlling candle until its bottom is taken out but I consider this to be a lost trade.


/quote]

YEs, and for those reasons I didn't take it but why GBPUSD?
  • #13,178
  • Jul 23, 2010 7:58am Jul 23, 2010 7:58am
@ Simpleman

Hammer-BEOB-BUOB on 61.8 ret.
+ 1.5350 is where the MAY BB candle is taken out

R
  • #13,179
  • Jul 23, 2010 8:01am Jul 23, 2010 8:01am
Quoting strat

If it helps, I took the same trade live as an ATM but only up to 1st R at 1.6150 - I left a lot of pips on the table but it doesn't mean diddly - I PLANNED my trade and traded the PLAN - nothing else matters.

Had I had money in my oanda account it would have been a live trade, with maybe 1/2% risk. I had planned it also but jumped the gun when I just entered at the market, not waiting for confirmation. Think it's that scalpers mentality that I'm slowly discarding. But lesson learned.

Thanks for the vote of confidence Strat... now go chase some of them 24's for me as well, or a few sips of merlot will do too.
  • #13,180
  • Jul 23, 2010 8:10am Jul 23, 2010 8:10am
Quoting Rubens PP
@ Simpleman

Hammer-BEOB-BUOB on 61.8 ret.
+ 1.5350 is where the MAY BB candle is taken out

R
Hi Rubens,
There is a very strong resistance at 155 and I think the trade was for experts not for us learners. And I think the May Boss controlling candle you are talking about, the low was already taken after two weeks and I think (someone correct me if wrong) if one side has been taken then control factor has gone, there was no controlling factor left in it.
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