Strat's Long Term Stress Free Trading | Page 660 | 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

  • #13,181
  • Jul 23, 2010 10:17am Jul 23, 2010 10:17am
Quoting Rubens PP
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...
Moving SL @ BE is stress free but how often does one get stopped out remains to be measured.

Nothing to measure!

You will always, ALWAYS get stopped out in the face of higher time frame SR!

Simple analogy:
You are on the freeway driving at 70 mph. Up ahead, in 165 yards, the freeway dead ends in a concrete wall.

What makes you so special that you think you can drive through the wall?
15 YEARS OF PASR ON FOREX FACTORY!
  • #13,182
  • Jul 23, 2010 10:30am Jul 23, 2010 10:30am
Thank you Strat, point taken!
If the wall is to be broken let price do it first then drive safely through the hole.
  • #13,183
  • Edited 12:00pm Jul 23, 2010 11:43am | Edited 12:00pm
Here's one that I'll be watching when the markets open sun night, mon morning depending on how it closes today tho. Just an early warning......
Hitting 9300 sig# and alot of previous support and fair resistance.
ONLY FOR AN ATM TRADE!

See if it closes as a SS...


P.S. Have a great weekend everyone!!
Attached Image (click to enlarge)
Click to Enlarge Name: 2010-7-23 -atm- audcad .gif Size: 35 KB
  • #13,184
  • Jul 23, 2010 3:38pm Jul 23, 2010 3:38pm
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...
If it's help, I also took the same trade. May I suggest? put your SL below the support. My SL is 10 pips below support which is 1.5790.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpchf-07-23-10.gif Size: 19 KB
  • #13,185
  • Jul 23, 2010 6:22pm Jul 23, 2010 6:22pm
hello lou,
gat a good suggestion for a good n affordable coder? wana code a 1 indicator system. basicaly and entry and exit strategy.
  • #13,186
  • Edited 7:01pm Jul 23, 2010 6:25pm | Edited 7:01pm
24 July 2010
AUDUSD end of week analysis

Big Boss:
* Still under control of May bearish candle (blue dashed lines)

* 20 EMA ticked up

* June candle’s small real body (high wave candle) and long wicks indicated that sellers drove prices down, but could not hold and buyers vice-versa, confusion reigned with neither side in control.

* July candle, buyers took over and now firmly in control but nearing strong psycho R at 0.9000.

Boss:
* Uptrend commenced 4 July candle (vertical line on B and W charts- thanks Strat)

* 20 EMA ticked up

* Perfect BUOB without wicks

Conclusion: Boss has given LONGSIDE direction and very positive sentiment for LONG trades.

Worker:
* Thursday produced a strong BUOB.

* Friday's hanging man indicated that Buyers were still dominant but had paused for breath.

Conclusion: A LONG ATM trade with suitable PA above the strong psycho R at 0.9000 has a potential to deliver about 150 pips before the next R at 0.9165

Note: an almost identical situation exists with NZDUSD
Attached Image(s) (click to enlarge)
Click to Enlarge Name: audusd monthly 24 july.jpg Size: 106 KB
Click to Enlarge Name: audusd weekly 24 july.jpg Size: 118 KB
Click to Enlarge Name: audusd daily 24 july.jpg Size: 136 KB
"Make everything as simple as possible, but not simpler" Albert Einstein
  • #13,187
  • Jul 23, 2010 7:59pm Jul 23, 2010 7:59pm
Quoting MoneyMaker
Here's one that I'll be watching when the markets open sun night, mon morning depending on how it closes today tho. Just an early warning......
Hitting 9300 sig# and alot of previous support and fair resistance.
ONLY FOR AN ATM TRADE!

See if it closes as a SS...


P.S. Have a great weekend everyone!!
Shooting Star? You are thinking short?

Look at the trends across our 3 time frames!

I'll see if I can get the ghost of Dr. Joe to visit you!
15 YEARS OF PASR ON FOREX FACTORY!
  • #13,188
  • Jul 23, 2010 9:28pm Jul 23, 2010 9:28pm
Quoting samueldegge
hello lou,
gat a good suggestion for a good n affordable coder? wana code a 1 indicator system. basicaly and entry and exit strategy.
SteveHopwood or RonaldRaygun here on Forex Factory can code it for you.

I suggest you code and use the one indicator between your ears tho. It will be more profitable.

Good luck to you.
  • #13,189
  • Jul 23, 2010 10:41pm Jul 23, 2010 10:41pm
Quoting MoneyMaker
Here's one that I'll be watching when the markets open sun night, mon morning depending on how it closes today tho. Just an early warning......
Hitting 9300 sig# and alot of previous support and fair resistance.
ONLY FOR AN ATM TRADE!

See if it closes as a SS...


P.S. Have a great weekend everyone!!
Consider the immediate trend is up on the boss and is in sync with the dominant trend so the odds favor more upside and the countertrend is high-risk.

Attached Image (click to enlarge)
Click to Enlarge Name: audcad - 2 - 07-23-2010.gif Size: 31 KB

  • #13,190
  • Jul 24, 2010 12:07am Jul 24, 2010 12:07am
Quoting samueldegge
hello lou,
gat a good suggestion for a good n affordable coder? wana code a 1 indicator system. basicaly and entry and exit strategy.
That would not be me. Other names that were suggested, I know are good ones.
  • #13,191
  • Jul 24, 2010 3:04am Jul 24, 2010 3:04am
Quoting samueldegge
hello lou,
gat a good suggestion for a good n affordable coder? wana code a 1 indicator system. basicaly and entry and exit strategy.

You don't need a coder - Just buy at the top and sell at the bottom - you'll make millions.
  • #13,192
  • Jul 24, 2010 5:14am Jul 24, 2010 5:14am
Quoting Rubens PP
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...
TP 1st position at 90pips and 2nd and 3rd positions got stopped @BE.

Moving SL @ BE is stress free but how often does one get stopped out remains to be measured.

In your quest to trend trade, Rubens, you along with so many others on here are missing the obvious.

If you could consistently make 100 pips on each trade (or 80% of your trades), then at $100/pip/trade you would have a fantastic income and lifestyle. I have several trading buddies who do this and they do it completely stress free.

The key is focusing on the trades which will consistently give 100 pips. When you can do this consistently then.....................................
15 YEARS OF PASR ON FOREX FACTORY!
  • #13,193
  • Edited 1:38pm Jul 24, 2010 11:31am | Edited 1:38pm
Big Boss looks like its building energy and beside that I don't know what Big Boss is saying but i'm curious to know.
Boss ended as a hammer at support and the week before bounced off support.
Worker's BUEB tells me that a reversal might occur soon. For now I'll wait and see if this pair stars making HHs & HLs or continues its daily downtrend.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: usdchf_mn_24.07.png Size: 24 KB
Click to Enlarge Name: usdchf_weekly_24.07.png Size: 19 KB
Click to Enlarge Name: usdchf_daily_24.07.png Size: 27 KB
  • #13,194
  • Jul 24, 2010 1:00pm Jul 24, 2010 1:00pm
Quoting hcristea
Big Boss looks like its building energy and beside that I don't know what Big Boss is saying but i'm curious to know.
Boss ended as a hammer at support and the week before bounced from support.
Worker's BUEB tells me that a reversal might occur soon. For now I'll wait and see if this pair stars making HHs & HLs or continues its daily downtrend.
I think it'll go sideways for a week or two and then continue down.. this is a no trade zone until price breaks out of the box.

Not sure if this is part of Strats method - probly not - but it's what I see.

Attached Image (click to enlarge)
Click to Enlarge Name: usdchf.jpg Size: 91 KB
  • #13,195
  • Jul 24, 2010 6:36pm Jul 24, 2010 6:36pm
Quoting hcristea
Big Boss looks like its building energy and beside that I don't know what Big Boss is saying but i'm curious to know.
Boss ended as a hammer at support and the week before bounced off support.
Worker's BUEB tells me that a reversal might occur soon. For now I'll wait and see if this pair stars making HHs & HLs or continues its daily downtrend.
Big Boss trapped in a tradable range 1.0000 to 1.6000

Boss trying to hold support

Worker going sideways in a smaller range

Just like it's alter ego, it is waiting for the big boys to decide on a direction.
15 YEARS OF PASR ON FOREX FACTORY!
  • #13,196
  • Edited 12:27am Jul 25, 2010 12:12am | Edited 12:27am
Big Boss: Since last month's strong bear candle, price has found support in the 0.8850-0.8950 area and bulls have been pushing price higher so far this month. This is the third consecutive month of lower lows, and unless there is a continuation of the bull run of an additional 400+ pips needed to take price above last month's high of 0.9846 it will also be the third month of lower highs as well. As long as price is still below the high of last month's bearish controlling candle I am looking for a PASR setup for an opportunity to get short.

Boss: The past week's action was strongly bullish as shown by last week's big BUOB/BUEB. However, all the price action during the last three weeks is still being contained within the huge bear candle that ended the week of July 3rd. Additionally, price is still below the 20ma so I am seeing this as a retracement at the present time.

Worker: Price continues to make a second leg higher, pushing straight through psycho 0.9400 and minor SR at that level and closed right at the 50ma. Price is now approaching both the May 6 - July 6 fib 50% retracement and the June 14 - July 6 fib 61.8% retracement. I will be watching to see what kind of PA we get in this area. If the retracement is completed and the big boys come back into the market at this level to resume selling we could be setting up for a move down to test the 0.9050 area, or even lower to around the 0.8860 swing low. If price continues to trade higher and closes above the boss bear candle at 0.9575 I think I would reconsider going short at this time.


Attached Image (click to enlarge)
Click to Enlarge Name: audchf - 1 - 07-24-2010.gif Size: 21 KB


Attached Image (click to enlarge)
Click to Enlarge Name: audchf - 2 - 07-24-2010.gif Size: 29 KB


Attached Image (click to enlarge)
Click to Enlarge Name: audchf - 3 - 07-24-2010.gif Size: 32 KB

  • #13,197
  • Jul 25, 2010 5:31am Jul 25, 2010 5:31am
BIG BOSS: Last month’s candle still in control and so far I can just see an IB but the trend of BIG Boss is still down.
BOSS: Last week’s candle closed above the candle before the last week but still 1200 pips away from 100ma and trend of the Boss is looking up to me and the next major resistance is 143.
WORKER: The pair has made higher low on 22/7 and has closed above 20ma. If previous high of 13676 on 20/7 will be taken then the pair will make higher high and we could see 140 very easily at that point I have 61.8fib and R

NOTE: I think the pair can be affected by USDCHF pair as can be seen in the price action on last Friday when up move in USDCHF moved all the CHF pairs.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eurchf23072010d.gif Size: 13 KB
Click to Enlarge Name: eurchf23072010w.gif Size: 14 KB
Click to Enlarge Name: eurchf23072010m.gif Size: 15 KB
  • #13,198
  • Jul 25, 2010 6:10am Jul 25, 2010 6:10am
Quoting simpleman
BIG BOSS: Last month’s candle still in control and so far I can just see an IB but the trend of BIG Boss is still down.
BOSS: Last week’s candle closed above the candle before the last week but still 1200 pips away from 100ma and trend of the Boss is looking up to me and the next major resistance is 143.
[font=Arial]WORKER: The pair has made higher low on 22/7 and has closed above 20ma. If previous high of 13676 on 20/7 will be taken then the pair will make higher high and we could see 140 very easily at that...
Hi Simpleman!We all know that gbpjpy is " the beast",but personally I think that eurchf is even worst.From the left side of daily's(not only) chart all I see are just weird,tiny and untradeable candles,followed by those huge tails what are hunting everyone.SNB has no friends and personally I belive that it is often difficult to trade this pair,even for proffesionals traders.Thanks.
My humble opinion.
  • #13,199
  • Jul 25, 2010 6:31am Jul 25, 2010 6:31am
Quoting igmal
I belive that it is often difficult to trade this pair,even for proffesionals traders.Thanks.
I absolutely agree with you and this is what I had noticed. More recently it was behaving reasonably well, but I will be very careful traing this pair. Wild move on GBPCHF last week is the example.
Thanks
  • #13,200
  • Jul 25, 2010 7:17am Jul 25, 2010 7:17am
Quoting simpleman
BIG BOSS: Last month’s candle still in control and so far I can just see an IB but the trend of BIG Boss is still down.
BOSS: Last week’s candle closed above the candle before the last week but still 1200 pips away from 100ma and trend of the Boss is looking up to me and the next major resistance is 143.
[font=Arial]WORKER: The pair has made higher low on 22/7 and has closed above 20ma. If previous high of 13676 on 20/7 will be taken then the pair will make higher high and we could see 140 very easily at that...
I hear what ur saying but... I can't ignore the funnymentals. The stress tests were out Friday and I think this will have a negative impact on the markets the Euro could sell off across the board - but thats just me speculating.

Also the Euro is very weak anyway - Germans are moving lots of cash to Switzerland for instance.

The MA is not a signal in and of itself(I'm not saying trade it) - just an alert to watch PA for a reaction, but I'll be ready if it starts to sell off tonight or tomorrow.

Look at it another way - what could possibly cause the Euro to go up - nothing - ergo it should go down.
55 traders viewing now