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Strat's Long Term Stress Free Trading

  • #14,961
  • Dec 19, 2010 4:00pm Dec 19, 2010 4:00pm
Quoting strat
Good luck with an entry that is 96 times MORE STRESS & RISKIER than how ''WE'' trade PASR on here!

''We'' are NOT Amateurs. Amateurs manage money by taking RISK. PROFESSIONALS manage RISK by taking money.
A rather famous quote attributed to Albert Einstein:

"Common sense is the collection of prejudices acquired by age eighteen."
  • #14,962
  • Dec 19, 2010 4:03pm Dec 19, 2010 4:03pm
Quoting trogger
A rather famous quote attributed to Albert Einstein:

"Common sense is the collection of prejudices acquired by age eighteen."
Einstein couldn't trade his way out of a paper bag!
15 YEARS OF PASR ON FOREX FACTORY!
  • #14,963
  • Edited 4:32pm Dec 19, 2010 4:18pm | Edited 4:32pm
Quoting strat
Einstein couldn't trade his way out of a paper bag!
The charts posted on NZ/CHF are for readers of this thread to observe, analyse and make their own decisions as to whether they wish to enter a trade - long or short -and on whatever time frame suits their trading style.

I did consider downloading another MT4 platform to use clean charts that did not show my entry (which I understand to be outside the teachings on this thread). I have no wish to upset the author, but would point out that he has previously made the comments that PASR works on any timeframe.

It should be clear to any reader that something WILL happen at this level - it will either cut through, bounce or just plain stop.

For those who have analysed the chart (only Jacanpipster has posted so far, with some excellent comments I would add) it should be very clear where the stop would go.

Yes, trading is stressfull.
Yes, you are going to lose money on some trades.

The fact of the matter is that my potential loss on this trade is less than 1% of the cost of a months subscription to your commercial site - I can live (and sleep) with that.

I have not advocated anybody entering the trade , either now or when the hammer does eventually break. I have simply posted a chart showing a pair at a clearly important level.
  • #14,964
  • Dec 19, 2010 5:55pm Dec 19, 2010 5:55pm
Boss had a classic candle reversal pattern two months ago. Price is now making double bottom.

Worker is printed a hammer at support.

Further confirming with it, Eurusd Boss closed below 1.3200 support level and below 20&50. Eurusd may be weaken more until we have a confirm HL hopefully above or at 1.2700.
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  • #14,965
  • Dec 20, 2010 4:52am Dec 20, 2010 4:52am
USDCHF is at support. I thought that the candle from 15 is the reversal. I entered Long but moved SL under the candle from 16.

Yesterday's hammer looks like there are buyers at support but I'm expecting another low and rejection.

Why? Because this situation on USDCHF might get alot of traders buying with SL just under the yesterday's hammer.

But the real discount prices are at o.9527 and the really really cheap (but less) discounts are at 0.9462. I think 0.9460 is very tempting and some big boys might want to get USDCHF that cheap.

So Patrick, what;s the setup?
  • #14,966
  • Dec 20, 2010 9:36am Dec 20, 2010 9:36am
Quoting hcristea
USDCHF is at support. I thought that the candle from 15 is the reversal. I entered Long but moved SL under the candle from 16.

Yesterday's hammer looks like there are buyers at support but I'm expecting another low and rejection.

Why? Because this situation on USDCHF might get alot of traders buying with SL just under the yesterday's hammer.

But the real discount prices are at o.9527 and the really really cheap (but less) discounts are at 0.9462. I think 0.9460 is very tempting and some big boys might want to get USDCHF that cheap.

So...
I have my buy order above the small SS. If price takes out those SL from sellers, my buy order will kick in.
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  • #14,967
  • Dec 20, 2010 9:47am Dec 20, 2010 9:47am
Stress free trade, well for now

The better entry was on 12-15 candle but price was inside 20&50 box. 12-17 candle gave us confirmation to go.
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  • #14,968
  • Dec 20, 2010 10:02am Dec 20, 2010 10:02am
Quoting patrick25
Stress free trade, well for now

The better entry was on 12-15 candle but price was inside 20&50 box. 12-17 candle gave us confirmation to go.
Depends on your data, Patrick. My Dec 15 candle closed 13 pips below the Strat Shadow.

You could have entered a pending short order below the Strat Shadow because the Strat Shadow was negative and acting as R across all 3 time frames
15 YEARS OF PASR ON FOREX FACTORY!
  • #14,969
  • Dec 20, 2010 10:21am Dec 20, 2010 10:21am
Quoting strat
Depends on your data, Patrick. My Dec 15 candle closed 13 pips below the Strat Shadow.

You could have entered a pending short order below the Strat Shadow because the Strat Shadow was negative and acting as R across all 3 time frames
I've got the feel of Strat shadow now. Combine it with all 3 time frames and PA is very powerfull stuff. Thanks again for your guidence. Disclaimer stuff: I am not Strat paid member group but I will always be his student.
  • #14,970
  • Dec 20, 2010 8:15pm Dec 20, 2010 8:15pm
Quoting patrick25
Stress free trade, well for now

The better entry was on 12-15 candle but price was inside 20&50 box. 12-17 candle gave us confirmation to go.
Hello Patrick and thanks for posting.
I can understand the logic behind the entry on this trade and also on the possible entry long on USD/CHF (post#14964) in asmuch as you are waiting for an increased confidence that the trade will go in your direction.

However, those entries also have very big stop losses relative to the potential gain shown by the target on your charts. Your charts indicate that the stop loss is approximately twice (or even more) the amount of your target. I cannot see how this can be profitable in the long run.

Or are you taking multiple positions and only showing the first target of many?

Thanks.
  • #14,971
  • Dec 20, 2010 8:38pm Dec 20, 2010 8:38pm
Attached Image


Sorry about the template - black background, wrong MA- just used a demo account so as not to show my entries and i don't have my "Strat Template" loaded on the demo.

I will leave it as homework exercise for readers as to why I regard this level as important and to figure where stops would go, and what target would be.
  • #14,972
  • Dec 20, 2010 8:40pm Dec 20, 2010 8:40pm
Quoting trogger
Hello Patrick and thanks for posting.
I can understand the logic behind the entry on this trade and also on the possible entry long on USD/CHF (post#14964) in asmuch as you are waiting for an increased confidence that the trade will go in your direction.

However, those entries also have very big stop losses relative to the potential gain shown by the target on your charts. Your charts indicate that the stop loss is approximately twice (or even more) the amount of your target. I cannot see how this can be profitable in the long run.

Or are you...
Those lines are just for SR. I don't have targets, I watch PA for taking profits(if any). I normally have three positions, first off for 100 pips, 2nd and 3rd @ break even for futher PA. Just like my recent gbpusd trade.
  • #14,973
  • Dec 20, 2010 8:49pm Dec 20, 2010 8:49pm
Quoting patrick25
Those lines are just for SR. I don't have targets, I watch PA for taking profits(if any). I normally have three positions, first off for 100 pips, 2nd and 3rd @ break even for futher PA. Just like my recent gbpusd trade.

Thanks for the reply. Yes, Multiple entries with further targets depending on PA

But that chart showing stop buy on the US/CHF (green dotted line) has red dotted lines, the lower of which would be be your stop and the upper your first target, I believe?
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  • #14,974
  • Dec 20, 2010 8:58pm Dec 20, 2010 8:58pm
Quoting trogger
Thanks for the reply. Yes, Multiple entries with further targets depending on PA

But that chart showing stop buy on the US/CHF (green dotted line) has red dotted lines, the lower of which would be be your stop and the upper your first target, I believe?
Attachment
Yeah, my entry is spread + 15 to 20 pips above/below setup candle. Then just add 100 pips tp in one of the three orders.
  • #14,975
  • Dec 20, 2010 11:56pm Dec 20, 2010 11:56pm
Quoting trogger
Hello Patrick and thanks for posting.
I can understand the logic behind the entry on this trade and also on...
The key to being a successful trader is not always to have the smallest possible SL and long runners. You must be consistent at whatever method or style you choose and i bet if you ask Patrick he has been pretty damn consistent!
  • #14,976
  • Dec 21, 2010 5:36am Dec 21, 2010 5:36am
While this thread is predominantly about technical trading, from time to time the fundamentals just can't be ignored (or at least, it would be foolish to ignore them).


Tomorrow the NZ current account is released at 10.45 am local time. This will impact the market and if there is a marked variation from the projections, that impact will be significant.

I have recently posted charts of some NZ pairs and since the posting there has been appropriate PA on these pairs on the daily charts to justify entries (in accordance with the teachings on this thread). I would not take the signals based on the daily charts at this time because of the looming release.
I have entered (and exited) several positions over recent days based on PA on lower time frames, and will be monitoring all remaining positions on lower time frames until after the release.
  • #14,977
  • Dec 21, 2010 12:03pm Dec 21, 2010 12:03pm
Quoting trogger
While this thread is predominantly about technical trading, from time to time the fundamentals just can't be ignored (or at least, it would be foolish to ignore them).


Tomorrow the NZ current account is released at 10.45 am local time. This will impact the market and if there is a marked variation from the projections, that impact will be significant.

I have recently posted charts of some NZ pairs and since the posting there has been appropriate PA on these pairs on the daily charts to justify entries (in accordance with the teachings on this...
Thank you for the news. May be it already telling us something about the outcome of the news. Just may be, the day has not close yet. This level and the trend line was draw before price got there that the story of a trader.
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  • #14,978
  • Dec 21, 2010 12:11pm Dec 21, 2010 12:11pm
Quoting patrick25
Thank you for the news. May be it already telling us something about the outcome of the news. Just may be, the day has not close yet. This level and the trend line was draw before price got there that the story of a trader.
Oh here is the Boss. Everything lines up so far but the news in the other way may change it.
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  • #14,979
  • Dec 21, 2010 12:21pm Dec 21, 2010 12:21pm
The experience counts in trading or may be luck has a lot to do with this one, well I thinkinnnng yeah luck has a lot to do with this one
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  • #14,980
  • Dec 21, 2010 1:27pm Dec 21, 2010 1:27pm
Quoting hcristea
But the real discount prices are at o.9527 and the really really cheap (but less) discounts are at 0.9462. I think 0.9460 is very tempting and some big boys might want to get USDCHF that cheap.
Some are buying at strong BB support, but lets see how string it will close today maybe we can get to super discount
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