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  • #13,401
  • Aug 3, 2010 4:08pm Aug 3, 2010 4:08pm
[QUOTE=strat

Here we go again!

The Big Boss and Boss......



Strat,

I know some of these discussions may be a pain in your Arse, but they are helpful to me and others. Please keep pounding it in our heads!



Still studying,

Poncho.
" I can read the left side of the chart, the right side's a Bitch!
  • #13,402
  • Aug 3, 2010 5:32pm Aug 3, 2010 5:32pm
Greetings All,

There has been a lot of heated correspondence in the past month in relation to trend recognition.

I think I may have been the one who started this, back in mid July. I had missed out on a number of potentially successful and profitable trades, because my understanding of how to trade trends, as a novice on the “Path” was faulty.

My problem was that I was trying to emulate Dr Joe, rather than following Strat’s dictum for Novices of consistently making profitable ATM trades by:
1) trading with the IMMEDIATE trend
2) entering trades only when suitable PASR occurs
3) taking profit at the next SR

To anyone still struggling to understand the important matter of identifying the IMMEDIATE trend, I suggest you study Strat’s reply to me on July 18 (13050, page 870).

I have not been able to put this advice into practice exactly in the manner suggested, because I do not know how to display a Worker and Boss chart simultaneously.

What I do, which has been a huge help, and for which I am indebted to Strat, is I look for a swing high/swing low on the Big Boss chart, which is indicating the beginning of the IMMEDIATE trend.

I place a vertical line on the BB chart at the swing high/swing low with visualization on the Daily, Weekly and Monthly time frames.

I then go to the Boss, and if necessary fine tune the placement of the vertical line on a B swing high/swing low.

Repeat on the worker, remembering that 1 bar on the BB represents 4 bars on the B, and 25 bars on the W.

When this has been done, a glance at the W will show exactly where price is in relation to the IMMEDIATE trend across all the time frames.

Attached is an example.

Hope this helps. Roger
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: eurusd weekly 4 august.jpg Size: 145 KB
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"Make everything as simple as possible, but not simpler" Albert Einstein
  • #13,403
  • Aug 3, 2010 5:41pm Aug 3, 2010 5:41pm
Quoting simpleman
Waiting for the pull back to 162 with PA to go long. Don't tell me it is downtrend please.
Hi Simplemanhttp://cdn.forexfactory.com/images/icons/icon7.gif

It is good to notice that you are trying to do the right thing - trading stress free, but you do not have to be afraid of getting comments or critique that may sound tough but in fact it is just a reminder that we need more patience and learning.

Post with confidence.

Happy tradinghttp://cdn.forexfactory.com/images/icons/icon14.gif
Jideck
  • #13,404
  • Aug 3, 2010 5:49pm Aug 3, 2010 5:49pm
Quoting Jideck
Hi Simplemanhttp://cdn.forexfactory.com/images/icons/icon7.gif

It is good to notice that you are trying to do the right thing - trading stress free, but you do not have to be afraid of getting comments or critique that may sound tough but in fact it is just a reminder that we need more patience and learning.

Post with confidence.

Happy tradinghttp://cdn.forexfactory.com/images/icons/icon14.gif
Jideck
Thanks Jideck, good to see you posting regularly.
  • #13,405
  • Aug 3, 2010 5:50pm Aug 3, 2010 5:50pm
[quote=No1Optimist;3919834]

Hi Rogerhttp://cdn.forexfactory.com/images/icons/icon7.gif

A very good example here, many thanks. It is great to see how to see the immediate trend as you see it.

Happy tradinghttp://cdn.forexfactory.com/images/icons/icon14.gif
Jideck
  • #13,406
  • Aug 3, 2010 10:54pm Aug 3, 2010 10:54pm
Quoting Rubens PP
Good evening everybody, Strat

AUDJPY looks appealing this week. Green TL turned from R to S.
Will try Longs above 78.5.

Thank you

R.
Hi Rubens,

Still doesn't seem to be trending yet. See my Boss chart attached. Maybe a new high above 81 should start an uptrend.

Cheers
Attached Image (click to enlarge)
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  • #13,407
  • Aug 4, 2010 12:49am Aug 4, 2010 12:49am
Quoting Rubens PP
Good evening everybody, Strat

AUDJPY looks appealing this week. Green TL turned from R to S.
Will try Longs above 78.5.

Thank you

R.

Hi,

Your green trend line doesn't make any sense to me. Yes price broke it, retraced back to it and went the other way. But at that point there was a Resistance line and Worker 20 with 50 not too far away. So these there the real factors pointing price up not the trend line.
Price also respects the BOSS 20 as it was sent down by it the last 3 times it got close to it. We also have strong resistance at 79.50 that puts in a BIG NO for any long trades. Even the short side would be more favorite than long with proper PA .

Just my opinion,

Good trading,

kaunasny
  • #13,408
  • Aug 4, 2010 2:23am Aug 4, 2010 2:23am
Audjpy is in sideways market,under presure of BB 2009.07.01 and2010.05.01.All the moves are in range of 2010.05.01 candle.Untill the price don't goes off that candle anything could happend and the price could range sideways.Any trade inside that monthly canle requires tight MM.Thanks.
My humble opinion.
  • #13,409
  • Aug 4, 2010 5:25am Aug 4, 2010 5:25am
Quoting strat
Got caught out thinking of other pairs and forgot to post your marked up chart
Strat,
sorry to take so long to respond - things have been busy for the last week or so.
Thanks very much for your feedback on the CADJPY (Not sure why I am giving this pair such attention)- there is one aspect of your response that has troubled me and that is whether I understand how to draw trendlines.
I thought that you had previously said trendlines can be drawn through tails as the open/close is the critical time to take into account, and the tail might be created by a few 'outlying' trades not representing the critical daily trading activity, so this is what I had been doing.... It took me a while to find the relevant posts...I'm now a bit confused how to draw trendlines.

Edit: NB I am looking particularly at the current down trend line(s)

http://www.forexfactory.com/showpost...postcount=2220

http://www.forexfactory.com/showpost...postcount=2801
Attached Image (click to enlarge)
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If you can wait and not be tired by waiting...
  • #13,410
  • Aug 4, 2010 5:58am Aug 4, 2010 5:58am
Just wanted to post a quick note to say thank you to Strat for his continued effort to guide others, and thank you to all the more experienced traders on here who continue to help others with their constructive posts.

I have not fallen by the way side and gone back to the bright lights and of indicator land, give me long-term charts and more time to play with the dozens of women who swoon at the feet of the likes of Strat's skill any day ror.

I got caught up with Support & Resistance and as always Strat could see immediately to the source of my problem and replied on the thread with advice which sunk in immediately. Strat has an uncanny ability to read where we ar eon the path and guide us exactly where we need to go and we are indeed lucky to have found this thread. He was right, I was just tied up in a knot. I have taken a step back and am working my way again through the thread and a lot more things make sense this time.

I hope to be in a position to make my first monthly/weekly analysis by the end of September and then follow the daily on those pairs from October; I will make my next posts at that time re: potential pairs for the month.

I have a myfxbook account with a few EAs loaded on it, more for comparison and I only look at them once a month, I started my journey as a forex trader using EAs so my goal is to see my personally traded account shine above the cheap crap I once was deluded into believing was a source of infinite wealth.

I have deleted all the old threads from my bookmarks and no longer even think about the possibility that "but this might be the holy grail". My demons have shut up - those ones anyway! It stares me in the mirror daily and The harder I work with the information presented here the closer I get to it shining through.

To all those frustrated, take a breath and do something else and come back with a fresh mind; you will be rewarded for it. There is no easy way. Who was it who said; "sometimes the hard way becomes easy, and the easy way becomes hard"? Not a rock and roller so lets not worry too much about it!

Best Regards,

forexample
  • #13,411
  • Aug 4, 2010 6:24am Aug 4, 2010 6:24am
Quoting forexample
Just wanted to post a quick note to say thank you to Strat for his continued effort to guide others, and thank you to all the more experienced traders on here who continue to help others with their constructive posts.

I have not fallen by the way side and gone back to the bright lights and of indicator land, give me long-term charts and more time to play with the dozens of women who swoon at the feet of the likes of Strat's skill any day ror.

I got caught up with Support & Resistance and as always Strat could see immediately to the source of...
I agree I have done the same thing. I made a post not long ago and made a complete twit out of my self. Fortunately Strat let it slide. I as well have taken a step back and have started back at the entrance of the path. Strat doesn't want anyone to leave the path and give up. If you have realized personally you just haven't got it yet and you have to study more ( as with anything) then you are truly learning something.

Thank you Strat and Senior members.

Steve
  • #13,412
  • Aug 4, 2010 9:02am Aug 4, 2010 9:02am
Quoting No1Optimist
Greetings...
Welcome back, Roger!
15 YEARS OF PASR ON FOREX FACTORY!
  • #13,413
  • Aug 4, 2010 9:03am Aug 4, 2010 9:03am
Quoting glyder
Strat,
sorry to take so long to respond - things have been busy for the last week or so.
Thanks very much for your feedback...
It seems to me you need to understand SWINGS before you can draw correct TLs
15 YEARS OF PASR ON FOREX FACTORY!
  • #13,414
  • Aug 4, 2010 11:12am Aug 4, 2010 11:12am
Hi All,

I am still in this from my last position. I added one position with PA breaking R. I only added with this PA because I am already in profits. I would not initiate a trade with this kind of PA.
Attached Image (click to enlarge)
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  • #13,415
  • Aug 4, 2010 11:55am Aug 4, 2010 11:55am
Quoting patrick25
Hi All,

I am still in this from my last position. I added one position with PA breaking R. I only added with this PA because I am already in profits. I would not initiate a trade with this kind of PA.
Nice trade Patrick. It seems to me that the road is clear till R at 1.7. There might be a possible wobble at 1.67 who might present another opportunity to add to your long positions.
  • #13,416
  • Aug 4, 2010 1:03pm Aug 4, 2010 1:03pm
hello strat....

nzd/chf

.786 retracement....trendline.....


http://i138.photobucket.com/albums/q...Untitled-4.jpg

ing
specially thanks strat for opening this thread.......this thread had accompanying me on my path of learning and succeeding in forex.

and this thread had gave me wht i wanted to learn in by reading and understanding the whole thread..........

i learn how to wait patiently to find the best position to enter trade and how to control my physical and mental emotion "quite" well.

Still in the path of learning.........thanks for all participant in this thread

PASR is CoOL
  • #13,417
  • Aug 4, 2010 1:40pm Aug 4, 2010 1:40pm
Quoting hcristea
Nice trade Patrick. It seems to me that the road is clear till R at 1.7. There might be a possible wobble at 1.67 who might present another opportunity to add to your long positions.
Thank you Hcristea. Yes 1.67 may be a problem, expecting a pull back to 1.6550 resistance turned to support. My all out SL below the hammmer. Let's see if Strat has some guidance on this.
  • #13,418
  • Aug 4, 2010 1:48pm Aug 4, 2010 1:48pm
Is it a chance going up?

WEEKLY LL > LH > HL > ?
DAILY LL > HH > HL > HH(a little bit higher)

a hammer is above R after a break of consolidation

but it's near a TL(down)
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  • #13,419
  • Aug 4, 2010 2:45pm Aug 4, 2010 2:45pm
Quoting patrick25
Hi All,

I am still in this from my last position. I added one position with PA breaking R. I only added with this PA because I am already in profits. I would not initiate a trade with this kind of PA.
Awesome Patrick!

Thanks for stepping through the management of this trade with us. Its great to see it done live. Cheers.

John
Finally out of the shadows.
  • #13,420
  • Aug 4, 2010 2:52pm Aug 4, 2010 2:52pm
Quoting strat
It seems to me you need to understand SWINGS before you can draw correct TLs
OK, Thanks Strat, as I will need correct TLs I'm off to research swings.
If you can wait and not be tired by waiting...
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