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Strat's Long Term Stress Free Trading

  • #14,881
  • Dec 1, 2010 9:11am Dec 1, 2010 9:11am
I created the checklist for all the experience PASR traders to help and improve it and make it as simple as the method is.

Highs & Lows: I am refering to HHs & HLs for UP or the opposite for down.

21 & 55 are moving averages or according to Strat teaching "price is traped in the MAs"
  • #14,882
  • Dec 1, 2010 9:42am Dec 1, 2010 9:42am
Quoting sf73
21 & 55 are moving averages or according to Strat teaching "price is traped in the MAs"
I think the MAs are 20 and 50.
  • #14,883
  • Dec 1, 2010 6:18pm Dec 1, 2010 6:18pm
Quoting sf73
I prepared a check list below based on Strat's PASR.
Please comment...
Nice check list BUT there is much more to the PLAN than what is listed
15 YEARS OF PASR ON FOREX FACTORY!
  • #14,884
  • Dec 1, 2010 6:19pm Dec 1, 2010 6:19pm
Quoting vienna_wein
I think the MAs are 20 and 50.
Correct - they are 20 and 50 EMAs
15 YEARS OF PASR ON FOREX FACTORY!
  • #14,885
  • Dec 1, 2010 10:23pm Dec 1, 2010 10:23pm
Quoting strat
Nice check list BUT there is much more to the PLAN than what is listed
What did I miss?
  • #14,886
  • Dec 1, 2010 10:35pm Dec 1, 2010 10:35pm
Quoting sf73
What did I miss?
Go back and read all my posts on PLANning the trade and trading the PLAN.

Your few lines do not address the Little People (psychological issues), mine does.
15 YEARS OF PASR ON FOREX FACTORY!
  • #14,887
  • Dec 1, 2010 10:44pm Dec 1, 2010 10:44pm
Quoting strat
Go back and read all my posts on PLANning the trade and trading the PLAN.

Your few lines do not address the Little People (psychological issues), mine does.
I am already on the way to look what I miss.

Thanks
  • #14,888
  • Edited Dec 4, 2010 7:47am Dec 3, 2010 1:53pm | Edited Dec 4, 2010 7:47am
Quoting Rubens PP
Correct!
He won't. AUDUSD Long is good for liquidity

Greek Bouncer
Still so smug about a long trade?

Short trades would be counter to the dominant trend on all of the 3 time frames?
Attached Image (click to enlarge)
Click to Enlarge Name: audusd daily 3 december trading.jpg Size: 108 KB
"Make everything as simple as possible, but not simpler" Albert Einstein
  • #14,889
  • Dec 3, 2010 6:06pm Dec 3, 2010 6:06pm
Here is part of a post I did on www.stratsforextrading.com on November 23, 2010

The move from Nov 16 to Nov 22 was only …………………… so we have an idea that this is a Corrective Wave in a MOVE DOWN.

The small body on Nov 21 at confluence of resistance, 20 and 38.2% retrace was confirmation of exhaustion of that move and we can now expect another Impulse Wave down. Again we don’t know or care what number, type or degree this is and just expect it to be greater than the last corrective move of … pips or so.

For those into target setting, we can use ……………… in which case we would expect the current down move to be another … pips or so ending at psycho 1.2950.

As a result of this, many of our members have made record pips on this trade!
15 YEARS OF PASR ON FOREX FACTORY!
  • #14,890
  • Dec 3, 2010 7:06pm Dec 3, 2010 7:06pm
Quoting No1Optimist
Still so smug about a long trade, counter to the dominant trend on all of the 3 time frames?
U saying trend is down?
Attached Image (click to enlarge)
Click to Enlarge Name: aussie 4th dec.jpg Size: 168 KB
Spinner 'Tis in the Waiting.....
  • #14,891
  • Dec 3, 2010 7:26pm Dec 3, 2010 7:26pm
Quoting Spinner
U saying trend is down?
No, the opposite. I have edited the previous post which was unclear.
"Make everything as simple as possible, but not simpler" Albert Einstein
  • #14,892
  • Dec 4, 2010 9:41am Dec 4, 2010 9:41am
Quoting No1Optimist
Still so smug about a long trade?

Short trades would be counter to the dominant trend on all of the 3 time frames?

On Nov 29, 2010 9:26pm when you posted the so called LONG signal,
everything to my eyes, especially BIG BOSS (tweezer tops AND BEEB!!) called for Short.

Under these sircomstances I d expect a retest of the worker 20 and act on it.

Had you taken the long you d need at least a 180 pip SL not to be taken out on the Nov30 and Dec1st. If anyones comfortable with this fine with me.

I m no prophet and certainly could not forecast NFP's outcome which inflated PRICE. If one could, what can I say.. he must have developed a great feel of the market
Anyway no one's smugging here.. Pips in pocket is what matters whether the market moves up/down or sideways after all .

Greek Bouncer
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  • #14,893
  • Edited Dec 5, 2010 7:56am Dec 4, 2010 2:59pm | Edited Dec 5, 2010 7:56am
For a start, my analysis was analysis only, not a suggestion to jump in and trade. If you read my comments on trading hammers you will note that they are risky signals, which require extra confirmation before trading.

On Nov 29, 2010 9:26pm when you posted the so called LONG signal,

It was not a "so called" long signal; it was an actual long signal, a hammer.

If you are following Stat's basic PASR method there are 3 candle types which signal a long trade: BUOB, BUEB and Hammer.

everything to my eyes, especially BIG BOSS (tweezer tops AND BEEB!!) called for Short.

You were interpreting PA differently to me. We are not trading the BB; we are trading the Worker who takes his instructions from the Boss.

If you read my original analysis again, with an open mind, you may be better able to understand my interpretation, even if you don't agree with it.

In a market in such a powerful uptrend as this, I always keep in mind at least 2 important factors: 1) Dr Joe and 2) the "rubber band effect".

You were trying to pick a top, which is not recommended.

Under these sircomstances I d expect a retest of the worker 20 and act on it.

Had you taken the long you d need at least a 180 pip SL not to be taken out on the Nov30 and Dec1st. If anyones comfortable with this fine with me.

I set my SL above/below swing highs or swing lows, or at least above/below a significant SR level, as Strat recommends.

If you try to only trade with very small SLs you will need plenty of luck. With more experience I think you will find that having your SL placed so you don't get easily stopped out, is more important that having a small stop loss.

It is a judgment call. As Strat has recently stated "Losses are ALL part of doing the BUSINESS of trading. The trick is to keep the losses smaller (not necessarily fewer) than our winners"

I m no prophet and certainly could not forecast NFP's outcome which inflated PRICE. If one could, what can I say.. he must have developed a great feel of the market

Apart from trying to be flat when the NFP is announced, I trade purely on the technical aspects of the chart. There is a strong school of thought that everything that is important to price (the fundamentals) is already incorporated in the price.

Anyway no one's smugging here..

I hope not, but your quip about "liquidity" gives a different impression.

Pips in pocket is what matters whether the market moves up/down or sideways after all .

Greek Bouncer
"Make everything as simple as possible, but not simpler" Albert Einstein
  • #14,894
  • Dec 4, 2010 3:23pm Dec 4, 2010 3:23pm
Great to see a few serious posters trying to keep this thread alive!
Events have proven you correct No1 Optimist and while someone has suggested you would need to have predicted the non-farms payroll this isn't really true. The turn had already happened prior to its release - the non-farms payroll merely added more pips (and not that many when you compare AUD/US with other US pairs eg US/JPY, you see a moderate effect of the release on Aussie).
Well done and enjoy your pips!

Quoting No1Optimist
29 November...
  • #14,895
  • Dec 5, 2010 10:14am Dec 5, 2010 10:14am
hello,strat and everyone.

long time no see. i have a question. should i only set up the ma(20ema,50ema,100ema,250ema) on my daily charts ?? or are these mas also useful on weekly chart and monthly chart ?
thank you .
A chart helps those who can read it.
  • #14,896
  • Dec 5, 2010 1:44pm Dec 5, 2010 1:44pm
Quoting geniusztc
hello,strat and everyone.

long time no see. i have a question. should i only set up the ma(20ema,50ema,100ema,250ema) on my daily charts ?? or are these mas also useful on weekly chart and monthly chart ?
thank you .
Strat recommends a 20 and a 50 bar EMA on each of the three time frames we use, daily, weekly and monthly.

In addition some add 100 and 250 bar EMAs on the daily (only).

The optional 100 and 250 on the daily represent the 20 and 50 on the weekly.

One weekly bar equals 5 daily bars, 5 x 20 = 100 etc.

The idea is that when you are looking at your daily chart at the same time you can see the position and slope of the EMAs on the weekly.
"Make everything as simple as possible, but not simpler" Albert Einstein
  • #14,897
  • Dec 5, 2010 2:52pm Dec 5, 2010 2:52pm
[quote=No1Optimist;4210430]
Quoting poncho1

A Hammer is a price reversal bar.

If a hammer is used as the signal bar for PASR trading it is always going to be counter to the immediate down trend, because it signals a long position after price has been trending down.

That is also the reason there should be extra confirmation before entering the trade. For example, a previous level of R has become a new level of S.
You have nailed it right on the head. Who would think long on Gbpusd on Worker with current PASR, I did. Here my reasons, Boss is currently making HH and HL with 20&50 crossed. This condition remains truth until price is closed below 1.5400. Worker is on its retracement and printed a hammer at SR. I entered long with Boss behind me. I know I have to fight the current worker trend, that the risk I have to take. I hope this will help some of new comers to this thread. Again I am not consistently trading like this yet.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: gbpusd-12-05-10.gif Size: 15 KB
  • #14,898
  • Dec 5, 2010 3:17pm Dec 5, 2010 3:17pm
[quote=patrick25;4222036]
Quoting No1Optimist

You have nailed it right on the head. Who would think long on Gbpusd on Worker with current PASR, I did. Here my reasons, Boss is currently making HH and HL with 20&50 crossed. This condition remains truth until price is closed below 1.5400. Worker is on its retracement and printed a hammer at SR. I entered long with Boss behind me. I know I have to fight the current worker trend, that the risk I have to take. I hope this will help some of new comers to this thread. Again I am not consistently trading like this yet....
For new students and those on the Path of Learning, you should ONLY be trading with the IMMEDIATE TREND - not against it.

You use the PRICE REVERSAL bars after a counter trend move to PUT YOU BACK in with the immediate trend.
15 YEARS OF PASR ON FOREX FACTORY!
  • #14,899
  • Dec 6, 2010 4:53am Dec 6, 2010 4:53am
As I understood, Mr.Strat recomend to use 250SMA on Daily, not 250EMA. Is it correct?
  • #14,900
  • Dec 6, 2010 7:39am Dec 6, 2010 7:39am
Quoting lite27
As I understood, Mr.Strat recomend to use 250SMA on Daily, not 250EMA. Is it correct?
He changed his earlier recommendation. All should be EMA.
"Make everything as simple as possible, but not simpler" Albert Einstein
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