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Strat's Long Term Stress Free Trading

  • #14,161
  • Sep 24, 2010 11:19pm Sep 24, 2010 11:19pm
Quoting strat
What a bloody stupid crackpot!

I have been LONG since May 19 and added many positions on dips, taking profit on some on August 11 and 22 and adding again on September 12, 21, 22 and 23 and all this is with the market's money - I have NOTHING AT RISK!

This pair is on its way to 1.6, maybe even 1.7 which is NORTH not south!

How to do this is ALL IN THE THREAD - but YOU have to DO THE WORK and PUT IN A LOT OF EFFORT and read and UNDERSTAND each and EVERY single post.

Then,...

Hello Strat,
I'm sorry, but where PASR May 19?
  • #14,162
  • Sep 25, 2010 12:25am Sep 25, 2010 12:25am
Quoting extraneo
Hello Strat,
I'm sorry, but where PASR May 19?
Price action varies according to different feeds. ie bars close at a different times. It will not be the same unless the bars close at the same time.
PASR student.
  • #14,163
  • Sep 25, 2010 1:51am Sep 25, 2010 1:51am
Quoting extraneo
Hello Strat,
I'm sorry, but where PASR May 19?

I had forgotten the chart ...
here it is
Attached Image (click to enlarge)
Click to Enlarge Name: gu.gif Size: 15 KB
  • #14,164
  • Sep 25, 2010 2:58am Sep 25, 2010 2:58am
Quoting extraneo
I had forgotten the chart ...
here it is
On your chart you have highlighted 2 hammers.

See those long lower wicks? They are telling you that sellers tried to take price lower, but could not. Buyers came in and their buying pushed price higher.

These candles are your PA (price action) hinting that the downtrend may be over and that prices may start to rise.

That is half of PASR.

You have not plotted any SR levels on your chart.

Once you have some valid SR levels plotted, then you may find a valid PASR signal to enter a long trade.

Hope this helps your understanding, Roger
"Make everything as simple as possible, but not simpler" Albert Einstein
  • #14,165
  • Sep 25, 2010 3:31am Sep 25, 2010 3:31am
Quoting miracle16
wow first time in a long while i've seen someone incur strat's wrath

guess its another reminder for all of us to be on our toes and keep trading with a buiness mindset.


We all did that at some stage, didn't we? Nice to know we're past it now.
Spinner 'Tis in the Waiting.....
  • #14,166
  • Sep 25, 2010 4:44am Sep 25, 2010 4:44am
Quoting No1Optimist
On your chart you have highlighted 2 hammers.

See those long lower wicks? They are telling you that sellers tried to take price...
Thank you Roger,
I had seen the level of S / R @1.4260;
However, BB and B are not aligned to the north;
is this advanced PASR?
  • #14,167
  • Edited 7:51am Sep 25, 2010 5:16am | Edited 7:51am
Quoting Spinner


We all did that at some stage, didn't we? Nice to know we're past it now.
Are we? Speak for yourself Spinner! I'm still walking on egg shells, and when I look back at some of the trades I have entered in the quite recent past I can't believe I did them. What Strat would say if he saw them I can only have nightmares about! lol

But without Strat's invaluable advice I for one would have been down and out by now. Understanding grows but the practical application needs control and discipline...... i.e. for me a personality adjustment.

BUT..... I'm winning by a neck at the moment. Not quite passed the post yet, but beginning to see that it is really possible and it has taken me over 18 months!! The more you understand the more you realise there is even more to it

So I would say to anyone who feels they are struggling and just won't manage it, stop trading and keep studying the thread and look at charts and interpret what the candles are telling you about buyers and sellers in the context of their position in the chart. Keep it simple with the key candles: SS, Hammers, BEEB/OB, BUEB/OB at points of Support and Resistance and see what then happens afterwards. It took me a long time but it DOES WORK. It's not a mathematical formula, it needs understanding and insightful interpretation but with that your losses will be significantly reduced. Not eliminated completely because events can and will still surprise us. But with good Money Management your wins will be greater than your losses.

If in the slightest doubt WAIT. The market will always be there and there will be lots of other times.
  • #14,168
  • Sep 25, 2010 8:05am Sep 25, 2010 8:05am
Quoting Lotuselanman
Are we?...
When a loss is really gunna hurt, that's when I start being careful. So in the end, it's about making the perfect trade, so if u have a loss, at least you know you followed your plan and it becomes just that: a loosing trade in a row of trades.


I u trade for little money u may be more careless and trigger happy. If it is serious business and money, u will make sure you treat it as such.

If u wanna gamble and that, or just to keep the addiction at bay, do it for 0.1% of equity, so it doesna hurt.

In the past six weeks I had four winners and two losers, I can live with that.

Jus' my penny
Spinner 'Tis in the Waiting.....
  • #14,169
  • Sep 25, 2010 9:07am Sep 25, 2010 9:07am
Quoting behman8850
At this stage do you think gbp/usd will go further up? How do we know where it will stop n reverse?
This phrase, written after all the amazing and valuable comments about the first question on GbPUSD, is denoting some little happy/drinking/dancing people showing up due to a growing and losing position, in my opinion.
Dear behman8850, you had such a good explanation of PASR and you keep asking when GPBUSD will stop! This shows clearly that there is smoke in your eyes.
Listen well, GPBUSD (but you can analyze any other pair) went fron 1.75 to 2.1 in 1 year and a half, with very little retracement, and from to 2 to 1.40 in a matter of two months !
No one knows when it will stops, we just know if TREND is changing only if we can read it on the chart with PASR rules! And right now there is nothing to read on GBPUSD a part from a strong UP TREND.
So take it easy, accept your loss and close the position if it is eroding your capital, or if it is still a bearable loss, lets say within 2 or 3 %, you just decide how much you will give to the market as a maximum, let's say 5%, for example (hoping for a retracement). But I would not do it, actually, since it is against the principle of trading and hope is not in our vocabulary! And mostly it would be a huge loss. So please don't do that.
And OF COURSE, after you will close the position, GPBUSD will get back to you! :0)
It has happened to all of us, don't worry, you are not alone.
Take care
M
  • #14,170
  • Sep 25, 2010 9:24am Sep 25, 2010 9:24am
Quoting No1Optimist
On your chart you have highlighted 2 hammers.

See those long lower wicks? They are telling you that sellers tried to take price...
So we can say that we have a strong PPZ 1.42/1.44 from feb/apr 2009?
  • #14,171
  • Edited 10:32am Sep 25, 2010 10:21am | Edited 10:32am
Quoting extraneo
Thank you Roger,
I had seen the level of S / R @1.4260;
However, BB and B are not aligned to the north;
is this advanced PASR?
If you entered long around 19 May as Strat did, you would be trading counter trend; because as you stated, B and BB were both trending down, and you would be going long, against that down trend.

Strat is always suggesting that in the beginning we should strictly follow the PASR rules which prohibit CT trades. Trading with the immediate trend of the B, or better still the B and BB is much safer.

The B turned up on about 6 June, when you could have entered long if there was a valid PASR signal.

On my chart I would probably waited until 17 June when there was a strong BEEB (almost a hammer) which broke and closed above the EMAs as my signal bar to enter long. Both the B and BB were also trending up at that time. This would have been trading with the immediate trends of both B and BB.

If you stayed in this trade till about 9 August, with 1/3 of your original position you could have made stress free, more than 1000 pips.

Strat is always repeating that he teaches and recommends PASR to us novices, but he uses many other advanced techniques, known only to him, in his trading.
"Make everything as simple as possible, but not simpler" Albert Einstein
  • #14,172
  • Sep 25, 2010 10:30am Sep 25, 2010 10:30am
Quoting dorellino
So we can say that we have a strong PPZ 1.42/1.44 from feb/apr 2009?
On Strat's thread we use the term SR level or line for areas where there has been price support or resistance in the past.

I think PPZ comes from another thread.

On my chart I certainly have an SR level at 1.4252 across the 3 time frames, which may be a bit different on your chart.

Hope this helps.
"Make everything as simple as possible, but not simpler" Albert Einstein
  • #14,173
  • Sep 25, 2010 10:44am Sep 25, 2010 10:44am
Quoting No1Optimist
If you entered long around 19 May as Strat did, you would be trading counter trend; because as you stated, B and BB were...

I hope that Strat is in agreement:
I would have long entered June 8, after the rebound from 1.4350 support, with buy stop above the high of the candle (and above 1.4500 BRN).
  • #14,174
  • Sep 25, 2010 11:12am Sep 25, 2010 11:12am
Quoting extraneo
I hope that Strat is in agreement:
I would have long entered June 8, after the rebound from 1.4350 support, with buy stop above the high of the candle (and above 1.4500 BRN).
You would be trading right into the 20 EMA (on my chart), which can act as dynamic R.
"Make everything as simple as possible, but not simpler" Albert Einstein
  • #14,175
  • Sep 25, 2010 11:26am Sep 25, 2010 11:26am
Quoting No1Optimist
You would be trading right into the 20 EMA (on my chart), which can act as dynamic R.

I considered R @ 1.4710 more than 20 ema
  • #14,176
  • Sep 25, 2010 11:39am Sep 25, 2010 11:39am
Quoting No1Optimist
If you entered long around 19 May as Strat did, you would be trading counter trend; because as you stated, B and BB were...

Note that the June 17 price was trapped between 20 ema and 50 sma
Attached Image (click to enlarge)
Click to Enlarge Name: gu.gif Size: 16 KB
  • #14,177
  • Sep 25, 2010 2:29pm Sep 25, 2010 2:29pm
Quoting Lotuselanman
Keep it simple with the key candles: SS, Hammers, BEEB/OB, BUEB/OB at points of Support and Resistance and see what then happens afterwards. It took me a long time but it DOES WORK. It's not a mathematical formula, it needs understanding and insightful interpretation but with that your losses will be significantly reduced. Not eliminated completely because events can and will still surprise us. But with good Money Management your wins will be greater than your losses.

If in the slightest doubt WAIT. The market will always be there and there...
  • #14,178
  • Sep 25, 2010 3:56pm Sep 25, 2010 3:56pm
Quoting extraneo
Note that the June 17 price was trapped between 20 ema and 50 sma
not on my chart
"Make everything as simple as possible, but not simpler" Albert Einstein
  • #14,179
  • Sep 26, 2010 5:14am Sep 26, 2010 5:14am
EUR / CHF: we are still at the point of last week?

Abstract: we have few reference points to draw lines S/R.
BIG BOSS: BEEB / BEOB, broken downward September 7, with immediate rebound from 1.2765;
BOSS: close above 1.3180 (monthly S / R);
Daily: BUEB / BUOB, that has engulfed the previous four candles daily, and with rejection from S [email protected].
However, Price is still trapped between 20 ema and 50 sma.

Something is changing?
Knocking on heaven's door?

Hello Strat, you like Bob Dylan?
Attached Image (click to enlarge)
Click to Enlarge Name: ec.gif Size: 15 KB
  • #14,180
  • Sep 26, 2010 6:14am Sep 26, 2010 6:14am
Quoting extraneo
EUR / CHF: we are still at the point of last week?

Abstract: we have few reference points to draw lines S/R.
BIG BOSS: BEEB / BEOB, broken downward September 7, with immediate rebound from 1.2765;
BOSS: close above 1.3180 (monthly S / R);
Daily: BUEB / BUOB, that has engulfed the previous four candles daily, and with rejection from S [email protected].
However, Price is still trapped between 20 ema and 50 sma.

Something is changing?
Knocking on heaven's door?

Hello Strat, you like Bob Dylan?

some ideas
Attached Image (click to enlarge)
Click to Enlarge Name: echf.gif Size: 20 KB
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