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Strat's Long Term Stress Free Trading

  • #13,821
  • Sep 7, 2010 3:09am Sep 7, 2010 3:09am
Quoting simpleman
Hi Kalvind,
For me if the price of the next bar(s) to the controlling candle has gone higher or lower then the controlling candle's high or low whether it closed or open higher or lower then controlling candle has lost its control.
Hi Simpleman,
I agree that the controlling candles have been breached BUT have not closed above/below of this candle? For me a safe entry would be when there is a close above/below the controlling candle with PASR. Good luck with your trade.
  • #13,822
  • Edited 3:31am Sep 7, 2010 3:20am | Edited 3:31am
Quoting simpleman
Looks like this buddy wants to come down to 156.
I would agree, there is a signal from the B candle last week. However I would wait to see PA around the 20ema on the B. On the worker the MA's are looking to turn down with momentum. I will be looking for a LH on the Worker before I go short just to be safe.

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  • #13,823
  • Sep 7, 2010 4:00am Sep 7, 2010 4:00am
Looking at the B, its been range bound for weeks except for a few weeks below S in March. If history repeats itself then buyers & sellers would step in on either side of the 2 ranging SR lines as can be seen by the PA.
One to watch as its a 400/500 pip range and to watch cycle formation on the Worker.

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  • #13,824
  • Sep 7, 2010 6:12am Sep 7, 2010 6:12am
Quoting kalvind
I would agree, there is a signal from the B candle last week. However I would wait to see PA around the 20ema on the B. On the worker the MA's are looking to turn down with momentum. I will be looking for a LH on the Worker before I go short just to be safe.

Attachment
Not saying that u should do it. But if you have a signal, hesitating may not be good either. Last week I missed my entry gbp/aud and gbp chf on being too choosy. That's like jumping on a parachute
Spinner 'Tis in the Waiting.....
  • #13,825
  • Sep 7, 2010 6:58am Sep 7, 2010 6:58am
Quoting strat
London OWNS GBPUSD - there will always be GBPUSD action when London is trading BUT you only have half the story. We want the COMBINED movements of London & NY.

All London did today was slide it up and down between narrow S and R which, unless you are a crash and burn short time frame trader, is of no use to us.

But there again, Larry, you could know better than me, I'm just an average Joe.
Hey, I'm not trying to say I know better than anyone, just pointing out that the world doesn't stop because the US has a holiday is all.

I didn't trade either but if the action had triggered any trade I might have set based on prior PA, I would have to live with that.

Are you suggesting that if my chart shows perfect PA at SR I should not set the trade because there is a holiday in either of Japan, UK/EUR or the USA? A fair question for us students to ask I think.

Larry
  • #13,826
  • Sep 7, 2010 7:32am Sep 7, 2010 7:32am
Quoting advfn2828
That is probably enough from me to start with, and I will post more of an introduction over the next few days, and to share some of my experiences - the good the bad and the downright ugly and the things I have learned along the way which I hope will be of interest.

What I wont do is post directly on this method until such time as I feel that I am pretty up to speed - which may yet take some time!
Hi Strat and all

When I first wrote the above back on 20 Aug, I think I had underestimated the scale of the task ahead of me and here I am over a month later and still only on page 300! But reading digesting and understanding takes time! But I am sure it will be time well spent.

I stopped here to post because post 4499 on page 300 gave me great inspiration. This is a long post that explains how to use 5 mins charts as a practice ground to watch and learn how a market moves, cycles etc and reacts at cetain levels - to see S&R without the lines being drawn. Now I am not at that stage and doubt if I will be for many months with any certainty but it did give me hope because - until I made a complete muppet of myself in a demo contest (more of that another time) - I had BEGUN to see the market in that way - no need for indicators to tell me what happened - and had BEGUN to anticipate turning points just by a glance at the charts.

This is very encouraging to me - but also proves that there is no substitute for chart time - the sub conscious and the conscious mind will see the patterns and lines in the sand once they have been trained to see them. In other words I have learned more than I thought I had, and have already STARTED to gain a feel for the charts (long journey still to go I know and will be interesting to see if I am feeling the right things - cue for a Strat jest there me thinks).

OK enough waffle for now - back to studying - although at an even slower pace for the next few weeks due to some professional exams in October.

I so hope that by the time I get to the end of the thread that all the main contributors I have begun to know are still there so we can interact more fully!

Graeme
You can NEVER stop learning
  • #13,827
  • Sep 7, 2010 8:48am Sep 7, 2010 8:48am
Quoting kalvind
You state price is testing R, you never enter when price is near a significant S/R level, you watch for PA around these levels and importantly a confirmation.
Do not ask if it is a good time to short you have to learn the path and it will show you!
Do you think today's bar is a confirmation?
Can I enter the market today? or I just need to watching?
Try to understand English Try to understand Forex
  • #13,828
  • Sep 7, 2010 8:58am Sep 7, 2010 8:58am
Quoting Money Magnet
Hello Activer

Strat will not advise you on if it is a good time to go short or not, you need to do your homework and decide for yourself.

my comments are as follows:
SL: the high of the last swing , 1.2930
1.on the worker the swing high is not yet confirmed.
2. price action?
3.Confusion / indecision yes, controling bar on Boss for 8/8/10 yet as you state on the worker the price has crossed the 20 and 50. The Big boss tell the boss what to do and the Boss tells the worker. what do you see?
4....
It seems that I need to do more homework
Try to understand English Try to understand Forex
  • #13,829
  • Sep 7, 2010 9:01am Sep 7, 2010 9:01am
Quoting kalvind
Good luck with your trade.
I liked the set-up but didn't took the trade as I was waiting for CADJPY and finally the trade trigerred in the morning and has now hit my target.
  • #13,830
  • Sep 7, 2010 9:02am Sep 7, 2010 9:02am
Quoting Activer
Do you think today's bar is a confirmation?
Can I enter the market today? or I just need to watching?
Today's bar is not closed yet. We intiate the trade after the close using PASR.
  • #13,831
  • Sep 7, 2010 9:09am Sep 7, 2010 9:09am
Quoting GibsonL6
I would like to share a story of how our mental approach to trading can be our " Best Friend" and also our " Worst Enemy".

During the past 5 months, since studying Strat's method, I felt that I finally reached a level in trading, where " I " was in control.
I thought " This is It ", I understand how to trade PASR, I understand Money Management and I understand how to control the " Little Men".

With the equity curve in my account growing consistently now, I must be a Pro... Afterall 3 losing trades out of the last 20 tells me I must...
I wondered what happened to you. You and PistolDave were conspicuous by your absence.

It always amazes me that no matter how smart and intelligent we are, we all feel the need to walk on water when we are over flowing with confidence.

As you have found out and as many others will also find out, this is when we are most vulnerable.

No matter how many times I post about the last guy that tried to walk on water ending up being nailed to a cross, we still get the urge to try it.

What you also did though was run two RED lights.

As professional traders we have built in safety mechanisms. They are:

STOP TRADING when you have 3 consecutive losers - something is wrong. It doesn't matter what the "something" is but we need to STOP and re-evaluate either us or the market.

STOP TRADING when you lose "x%" of your account. The "x%" will differ amongst traders but whatever it is, when you reach it STOP and re-evaluate the situation.

How you move on from here sorts out the men from the boys - good luck!
15 YEARS OF PASR ON FOREX FACTORY!
  • #13,832
  • Sep 7, 2010 9:20am Sep 7, 2010 9:20am
Quoting simpleman
Today's bar is not closed yet. We intiate the trade after the close using PASR.
I had read many posts in the thread, so I remember Strat had tell me this.
But the problem is that I live in China which the time zone is GMT +8,
So when is the best time for me to do trading?

thanks.
Try to understand English Try to understand Forex
  • #13,833
  • Sep 7, 2010 9:22am Sep 7, 2010 9:22am
Quoting LarryK
Hey, I'm not trying to say I know better than anyone, just pointing out that the world doesn't stop because the US has a holiday is all.

I didn't trade either but if the action had triggered any trade I might have set based on prior PA, I would have to live with that.

Are you suggesting that if my chart shows perfect PA at SR I should not set the trade because there is a holiday in either of Japan, UK/EUR or the USA? A fair question for us students to ask I think.

Larry
When you have PASR on your chart it is up to you what you do with it. I'm just teaching PASR.

A thin market, because it is easily manipulated, will always move more (or not) - sometimes it is to our advantage while others it is not.

I have seen many times where the market set up to move in our anticipated direction during a "holiday", trigger the trade the next day only for the big boys to come in and reverse it.

Other times, there have been some very good moves triggered off a "holiday" market.

In compliance with RULE No. 1, I prefer to WAIT to let the market balance itself out.

I much prefer to lose profit pips than account pips.
15 YEARS OF PASR ON FOREX FACTORY!
  • #13,834
  • Sep 7, 2010 9:31am Sep 7, 2010 9:31am
Quoting advfn2828
Hi Strat and all

When I first wrote the above back on 20 Aug, I think I had underestimated the scale of the task ahead of me and here I am over a month later and still only on page 300!...
will be interesting to see if I am feeling the right things - (cue for a Strat jest there me thinks).

Happy to oblige!

If you didn't get slapped then it was "right"!

You are very wise to take your time and study very carefully.

UNDERSTANDING each post is far more important than how many you can read.

You must be the tortoise in the "hare and the tortoise" and we all know who won in the end.

The markets will still be here no matter how long you take. The important part is being prepared and ready to enter the market.

Good job.
15 YEARS OF PASR ON FOREX FACTORY!
  • #13,835
  • Sep 7, 2010 9:36am Sep 7, 2010 9:36am
Quoting Activer
I had read many posts in the thread, so I remember Strat had tell me this.
But the problem is that I live in China which the time zone is GMT +8,
So when is the best time for me to do trading?

thanks.
First, find out when YOUR candle closes and a new one prints - get this from your broker.

Being in China, you are well positioned to see what the Asian market did and at 3pm your time, I think, is when London opens so you are very well positioned.
15 YEARS OF PASR ON FOREX FACTORY!
  • #13,836
  • Sep 7, 2010 9:55am Sep 7, 2010 9:55am
Quoting advfn2828
Hi Strat and all

When I first wrote the above back on 20 Aug, I think I had underestimated the scale of the task ahead of me and here I am over a month later and still only on page 300! But reading digesting and understanding takes time! But I am sure it will be time well spent.

Graeme

I started reading this thread back in June, stepped thru the doorway onto the path also. Almost 2 1/2 months later I'm still only to page 520ish. It's been a wonderful journey and experience so far. And I'm looking forward to the rest of it the rest of my life. As they say, that day was the first day of the rest of my life.... Strat has said many times, it's a marathon, not a race. I couldn't think of a better way to spend my time. And I'm sure you'll feel the same way.
  • #13,837
  • Sep 7, 2010 10:07am Sep 7, 2010 10:07am
Quoting MoneyMaker
Notice that today is throwing out a nice BEEB, but over 12 hrs to go before the close on my platform.

Closed as a BEEB engulfing the last 5 days, and the nice rejection from the 20 from last friday, I placed my order just after the open on my candle last night for a few pips below the line @ 129. Woke up this morning and my first target was hit, so I moved my stops on the other 2 to BE. Now free and stressfree trades.
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  • #13,838
  • Sep 7, 2010 12:05pm Sep 7, 2010 12:05pm
To: Poncho, Yebisu, Rajesh, Money Magnet and Simpleman.

Thanks for all your responses and encouragement !
I was riding a little too high on my horse. This was definitely a reality check.
Our plans are there for a reason, and they must be followed if we ever want to succeed.

Tom
  • #13,839
  • Sep 7, 2010 12:12pm Sep 7, 2010 12:12pm
Quoting strat
I wondered what happened to you. You and PistolDave were conspicuous by your absence.

It always amazes me that no matter how smart and intelligent we are, we all feel the need to walk on water when we are over flowing with confidence.

As you have found out and as many others will also find out, this is when we are most vulnerable.

No matter how many times I post about the last guy that tried to walk on water ending up being nailed to a cross, we still get the urge to try it.

What you also did though was run two RED lights.

As professional...
I hear you loud and clear Strat! Never again will I let this happen.

It also never helps to keep things bottled up, so it does feel good to get this off my chest. I cant talk to my wife or my friends about it without sounding like an alien, so what better place to unload, than the place that gave me this confidence in the first place.

Thanks Strat... see you on the mens side.

Tom
  • #13,840
  • Sep 7, 2010 2:00pm Sep 7, 2010 2:00pm
This pair really looks bearish.

BB is bearish but it is right at S at 106.5
Boss had a confirmed LL 2 weeks ago but it still looks like the bears are in control. Those 2 dojis dont look like reversal.
Worker: we have a IB followed by a big supply bar which broke through support at 107.9 and the small up TL, 20 is coming down supporting the sellers. If today ends up with a strong close then the setup is sell few pips under the low with a SL above the high of the candle from Sep 3.

I dont think I will take this trade because something doesn't feel OK. Maybe because the SL is too far. I prefer to wait. If the price doesn't fall to 102 tomorrow, probably there will be another opportunity next days.

Feedback is welcome
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