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  • #14,481
  • Oct 10, 2010 11:14am Oct 10, 2010 11:14am
Quoting strat
Congratulations - you have just taken valuable steps on The Path of Learning.

To appreciate USDJPY - read over and over and UNDERSTAND my Dr. Joe post.
Thanks Strat.

I'm just few months into this new way of trading, and is still learning along. Like I say earlier, hope I don't deviate from this path.
  • #14,482
  • Oct 10, 2010 3:35pm Oct 10, 2010 3:35pm
Quoting geniusztc
hello,crude and everyone

as we all know,SR is NOT ACCURATE lines. but i am try to draw them more useful: should we draw the line in the low or high price of the low of high candle? or should we just draw the line in the close price of the low or high candle? confused i see your SR are in the close price. can you give some advice ??

thank you
I believe there are some good posts on SR placement by Blackeagle linked on the first post of this thread. Check them out and they should answer your questions.

In short though the idea is to start on the Big Boss and work your way down to the worker, fine tunning your levels as you go.

The chart i posted was based off of the Big Boss only just to show that there should only be major SR on your charts.
  • #14,483
  • Oct 10, 2010 3:36pm Oct 10, 2010 3:36pm
Quoting strat
If you are on The Path of Learning, you should be learning basic PASR which is trading from S to 1st R and R to 1st S. Learn to do that profitably and consistently FIRST before even thinking about swing and position trading.

Expect this to take about a year (depending on your ability). Students who thought they had mastered this in a few months soon found out they had not mastered it when attempting trend trading.

Learn to crawl before attempting walking
Thank you for the reminder Strat. I will drill that in my studying and training on the Path of Learning.

Regards
Clayton
  • #14,484
  • Oct 10, 2010 3:47pm Oct 10, 2010 3:47pm
G7 meetings this week end
Columbus Day in the US
Thanksgiving in Canada
Health & Sports Day in Japan
Fed announcements
Bank of England speeches

all make Monday a very dodgy day!
15 YEARS OF PASR ON FOREX FACTORY!
  • #14,485
  • Oct 10, 2010 5:21pm Oct 10, 2010 5:21pm
Quoting geniusztc
hello,everyone .

i have learned the thread some time .of course,i do analysis ,and i trade though the charts with my analysis.but ,i just do not know whether is there anything wrong with my homework. in the attachments ,there are some charts with my analysis ,can you give me some of your time and watch my charts .i need your advice and criticism.

thank you very very very much. give my best wishes to all of you .
I have reviewed the rest of your charts and they are all good - you are doing good.
15 YEARS OF PASR ON FOREX FACTORY!
  • #14,486
  • Oct 11, 2010 12:25am Oct 11, 2010 12:25am
Quoting strat
I have reviewed the rest of your charts and they are all good - you are doing good.
hello,strat

though my charts are not too bad .there are many problems in my trading .

1."Trade from support to 1st resistance and resistance to 1st support. "yse ,we should do like that,BUT,as you can see,there are a very few support and resistance lines in every chart of every pair,then we will have very few chances to trading.strat,you have not talken about how often should we trade ,have you ? can you teach me something about it ,thank you very much .

2.so at most of the time ,we are in the middle of the trend,we do not at the support and resistance zones.so the most of the time ,should we just waiting???

3.beacue our system is in the long trend,i just find that there are a huge zone between my enter price and the SL every time.i am not sure ,but as SR is not accurate ,my stop lose is always big . when the ST is far from my enter price ,i have to narrow my positions size ,then the profit will be little .
i am confusing .no risk no profit .i calculate my profit ,it is little . LOL, we are here for make money ,i am sorry to talk about these ,but i do not understand .

my questions must be stupid,but i am looking forward to your teaching and criticism.
A chart helps those who can read it.
  • #14,487
  • Oct 11, 2010 4:06am Oct 11, 2010 4:06am
Strat,

Thanks for the Method or better the "Path of Learning".

Keep on with the amazing thread.

sf73
  • #14,488
  • Oct 11, 2010 5:05am Oct 11, 2010 5:05am
Hi all. I have a question please?Why this thread is moved in the commercial forum? Thanks
  • #14,489
  • Oct 11, 2010 5:28am Oct 11, 2010 5:28am
[quote=geniusztc;4086825]hello,strat

though my charts are not too bad .there are many problems in my trading .

1."Trade from support to 1st resistance and resistance to 1st support.

I have know professional gamblers who back the horses in the UK wait for months for the right opportunity to bet!

Trading Forex is just the same.

Why do you think 95% of all players on Forex and the Indexes loose all there money?

But you won't want to hear the answer because trading is boring, you can do nothing for weeks, and then still not make any money.

But if you have the patience to sit it out until the right 'horse' comes along you will make real money.

But if your are starting out trying to make a living out of this and your underfunded you may as well send all your money to Strat as he will get it anyway and then you don't have to go through the trauma of losing it.

If you have the time and the patience then good luck to you.
  • #14,490
  • Oct 11, 2010 7:59am Oct 11, 2010 7:59am
Quoting Sydney-sider
Hi Strat and Co

It has been awhile since I last posted on this thread (about 300 pages back). Since then I have been studying and trying to understand the PASR method and not ask many questions that I know may have been answered throughout the thread already. I am only about 200 pages into the thread slowly studying and trying to understand every single post/chart and not flash read like what Strat has been repeating over and over.

Before I ask my question I want to personally thank Strat for starting this incredible thread, sharing his knowledge...
Nice charts mate, nice charts but too many useless lines I see there.I think three or four line would be better,most recent ones.Otherwise you'll be constantly confused when the price reach those lines,whether to get in or get out of position.just my humble opinion.I never use this method which is represented here of placing S/R levels and I may frankly say that I'm doing quite well.Now to the question about this thread why is moved to the commercial forum? Thanks
  • #14,491
  • Oct 11, 2010 9:04am Oct 11, 2010 9:04am
Quoting geniusztc
hello,strat

though my charts are not too bad .there are many problems in my trading .

1."Trade from support to 1st resistance and resistance to 1st support. "yse ,we should do like that,BUT,as you can see,there are a very few support and resistance lines in every chart of every pair,then we will have very few chances to trading.strat,you have not talken about how often should we trade ,have you ? can you teach me something about it ,thank you very much .

2.so at most of the time ,we are in the middle of...
BUT,as you can see,there are a very few support and resistance lines in every chart of every pair,then we will have very few chances to trading.strat,you have not talken about how often should we trade ,have you ? can you teach me something about it ,thank you very much .

Decide whether you are here to play a game or make money. The secret to consistent and profitable trading is having the PATIENCE and DISCIPLINE to wait for PASR set ups.

The fewer there are - THE BETTER -unlike the short time frame crash and burn traders who are looking for 5 to 10 pips from each trade, our trades are triple pips - WE CAN AFFORD TO WAIT!

YOU can ONLY trade what the Market gives YOU - to do anything else is LOSING money

YOU trade when you have a proven PASR set up.

Many of the 95% who LOSE, do so because they do not have the DISCIPLINE or the PATIENCE to wait for the Market to present us with a proven set up.

If you feel the need to be always trading, do yourself a favour and buy a Playstation or Gameboy.

2.so at most of the time ,we are in the middle of the trend,we do not at the support and resistance zones.so the most of the time ,should we just waiting???

Wait until you have a PASR set up or, trade when you feel the urge and LOSE money.

3.because our system is in the long trend,i just find that there are a huge zone between my enter price and the SL every time.

Not always


i am not sure ,but as SR is not accurate ,

Spend thousands of hours studying and practicing on thousands of charts and MAKE SR accurate!

my stop loss is always big . when the SL is far from my enter price ,i have to narrow my positions size ,then the profit will be little .

This has nothing to do with the method - this is Money Management

I am confusing .no risk no profit .i calculate my profit ,it is little . we are here for make money ,i am sorry to talk about these ,but i do not understand

You should not take a trade with less than 1:1 RR. If you UNDERSTAND the PASR method, your winning trades will outnumber your losing trades and more often than not, be greater than your SL.

Our FIRST priority is NOT TO LOSE MONEY - this comes BEFORE making money!
15 YEARS OF PASR ON FOREX FACTORY!
  • #14,492
  • Oct 11, 2010 9:17am Oct 11, 2010 9:17am
Quoting strat
[color=Blue][i]BUT,as you can see,there are a very few support and resistance lines in every chart of every pair,then we will have very few chances...
Ah very nice post indeed.All that matters is capital preservation.Glad to see this Mr Strat.
  • #14,493
  • Oct 11, 2010 10:02am Oct 11, 2010 10:02am
Dollar drops to 15-year yen low

US DOLLAR V JAPANESE YEN Last Updated at 11 Oct 2010, 10:50 ET *Chart shows local time http://www.bbc.co.uk/news/business/m...bel_spacing=30 $1 buys change % 81.9500 + +0.03
+ +0.03
The US dollar has hit a fresh 15-year low against the yen after meetings of the International Monetary Fund (IMF) and G7 finance ministers produced little to ease world currency tensions.


The dollar weakened against a basket of currencies and fell as low as 81.37 yen, before recovering to 81.99.


Friday's weaker-than-expected US jobs data also raised expectations of more quantitative easing in the US.


The record low for the dollar is 79.75 yen, reached in April 1995.


Last month, the Japanese central bank stepped in to sell yen and buy dollars, in an attempt to weaken the value of the yen against the dollar.


A strong yen makes Japanese exports more expensive, and reduces profits when earnings are repatriated.


Although Japanese markets are closed for a public holiday on Monday, the dollar's slide put markets on alert for further potential intervention by the Bank of Japan.

Tensions The IMF's member countries failed to agree on a concrete plan to tackle global imbalances at multilateral meetings over the weekend.


Japan escaped any overt criticism of its yen-selling policy, despite come commentators saying it was weakening its currency to gain an advantage in export markets.


And the dispute between the US and China over currency policy appears no closer to a resolution.


The US has accused China of keeping the yuan artificially low to benefit Chinese exports, and over the weekend US Treasury Secretary Timothy Geithner pressed Beijing again to let the value of the yuan rise against other currencies.


But Zhou Xiaochuan, the governor of China's central bank, while acknowledging that China must raise the value of its currency, said it would like to use "more gradual ways" to do so.


"In China, a lot of people believe in Chinese doctors. In western countries, they believe in western-trained doctors," he said.


Mr Zhou said the currency debate was like a contest between "pills that solve your problem overnight" and Chinese-style treatments of "10 herbs put together... that solve the problem not overnight, but maybe in one month or two months".
15 YEARS OF PASR ON FOREX FACTORY!
  • #14,494
  • Oct 11, 2010 11:49am Oct 11, 2010 11:49am
Quoting geniusztc
hello,strat

though my charts are not too bad .there are many problems in my trading .

1."Trade from support to 1st resistance and resistance to 1st support. "yse ,we should do like that,BUT,as you can see,there are a very few support and resistance lines in every chart of every pair,then we will have very few chances to trading.strat,you have not talken about how often should we trade ,have you ? can you teach me something about it ,thank you very much .

2.so at most of the time ,we are in the middle of...
3.because our system is in the long trend,i just find that there are a huge zone between my enter price and the SL every time.i am not sure ,but as SR is not accurate ,my stop lose is always big . when the ST is far from my enter price ,i have to narrow my positions size ,then the profit will be little .
i am confusing .no risk no profit .i calculate my profit ,it is little . LOL, we are here for make money ,i am sorry to talk about these ,but i do not understand

Look at YOUR words enlarged, in bold and blue

Then, READ and UNDERSTAND the following:

Amateurs only think about PROFIT
Professionals only think about LOSING

Amateurs manage money by taking RISK
Professionals manage RISK by taking money

Amateurs always look for a reason to trade
Professionals look for a reason NOT TO TAKE A TRADE

Amateurs think accepting RISK guarantees profits
Professionals KNOW that accepting RISK does NOT guarantee profits

Amateurs think increasing RISK increases profits
Professionals KNOW that increasing RISK does NOT increase profits

Until you change your mind set and attitude, you are doomed to failure
15 YEARS OF PASR ON FOREX FACTORY!
  • #14,495
  • Oct 11, 2010 8:07pm Oct 11, 2010 8:07pm
Quoting strat

look for a reason NOT TO TAKE A TRADE

I have this in bold print labeled to my 2 trading screens
  • #14,496
  • Oct 11, 2010 11:25pm Oct 11, 2010 11:25pm
Quoting strat
3.because our system is in the long trend,i just find that there are a huge zone between my enter price and the SL every time.i am not sure ,but as SR is not accurate ,my stop lose is always big . when the ST is far from my enter price ,i have to narrow my positions size ,then the profit will be little .
i am confusing .no risk no profit .i calculate my profit[font=Arial]...

strat,give you my most sincere thanks !!! and change my mind ,have a new start.
A chart helps those who can read it.
  • #14,497
  • Oct 12, 2010 12:29am Oct 12, 2010 12:29am
Quoting kratun
Nice charts mate, nice charts but too many useless lines I see there.I think three or four line would be better,most recent ones.Otherwise you'll be constantly confused when the price reach those lines,whether to get in or get out of position.just my humble opinion.I never use this method which is represented here of placing S/R levels and I may frankly say that I'm doing quite well.Now to the question about this thread why is moved to the commercial forum? Thanks
Hi Kratun

Thanks for giving me some feedback on my charts. I do feel that having fewer lines would help me and provide a much more clear decision process.

If strat or someone could clarify for me. During my fine tuning process I have noticed that some SR lines (further back in time) that are not as respected as much as of late. Should I just downgrade their importance on my charts or just remove them my charts to point a clearer picture during my analysis?
Im thinking that I should just leave them there as price may be taken to those SR levels again in the future.

Again thanks for the enlightenment. I understand if I get directed to keep reading and understanding the thread and not to be spoon fed.

Clayton
  • #14,498
  • Oct 12, 2010 2:14am Oct 12, 2010 2:14am
Quoting Sydney-sider
Hi Kratun

Thanks for giving me some feedback on my charts. I do feel that having fewer lines would help me and provide a much more clear decision process.

If strat or someone could clarify for me. During my fine tuning process I have noticed that some SR lines (further back in time) that are not as respected as much as of late. Should I just downgrade their importance on my charts or just remove them my charts to point a clearer picture during my analysis?
Im thinking that I should just leave them there as price may be taken to those...
Hi Sidney I have given you nothing mate,you'll find all you need here in this thread.S/R levels are changed on a regular basis,they can't be seen as exact levels.If you still have difficulty with those lines,you can ask Mr Strat or some of his certified traders,or you can shoot me PM providing I'm still here.Thank you for your kindness
  • #14,499
  • Oct 12, 2010 12:47pm Oct 12, 2010 12:47pm
Price at support where monthly, weekly & daily supports osculate.

Something will happen & we must wait to see, right?
Attached Image (click to enlarge)
Click to Enlarge Name: gj.gif Size: 60 KB
  • #14,500
  • Oct 12, 2010 12:50pm Oct 12, 2010 12:50pm
Quoting Sydney-sider
Hi Kratun

Thanks for giving me some feedback on my charts. I do feel that having fewer lines would help me and provide a much more clear decision process.

If strat or someone could clarify for me. During my fine tuning process I have noticed that some SR lines (further back in time) that are not as respected as much as of late. Should I just downgrade their importance on my charts or just remove them my charts to point a clearer picture during my analysis?
Im thinking that I should just leave them there as price may be taken to those SR levels...
If strat or someone could clarify for me. During my fine tuning process I have noticed that some SR lines (further back in time) that are not as respected as much as of late. Should I just downgrade their importance on my charts or just remove them my charts to point a clearer picture during my analysis?

To answer your question for yourself, look at USDJPY – it is now testing April 1995 lows.

Im thinking that I should just leave them there as price may be taken to those SR levels again in the future.

Again thanks for the enlightenment. I understand if I get directed to keep reading and understanding the thread and not to be spoon fed.

Clayton, don't get confused with practicing and trading.

You need to practice on as many charts as you can find for all 3 time frames. As long as you are identifying and drawing SR correctly, it doesn’t matter how many lines you draw. Always start on the Big Boss, then fine tune those lines down to the Boss and again down to the Worker. Use a line chart on close if you can’t see SR on a candlestick chart.

Many ‘’not so serious’’ wannabe traders think I over exaggerate when I say spend thousands of hours practicing on thousands of charts but this is what is needed to learn our craft. Shortcut this and you will NEVER get it right!

As for trading, you should not do this until you are confident of your SR lines and your UNDERSTANDING of our PRICE REVERSAL candles and how we apply them in our PASR method. When you reach this point, you will know which SR lines to use.

Yes, all this is in the thread so it would be a very good idea to go back and read and UNDERSTAND it. Take as much time as you need, there is no hurry, moves will still be set up in 6 months’ time just as much as they are for today.


15 YEARS OF PASR ON FOREX FACTORY!
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