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Strat's Long Term Stress Free Trading

  • #15,161
  • Jan 18, 2011 3:48pm Jan 18, 2011 3:48pm
Quoting strat
Just posted on www.stratsforextrading.com

Post subject: LIVE TRADE GBPUSD
http://www.stratsforextrading.com/ph...ost_target.gifPosted: Tue Jan 18, 2011 5:46 pm...
Another "heads-up"?

Well, Strat must be feeling "off colour" - TWO calls today?

Don't say you never get anything for free!

Speaking of sterling, has anyone looked at Boss and Big Boss on the GBP.CHF lately?
  • #15,162
  • Jan 18, 2011 5:00pm Jan 18, 2011 5:00pm
Quoting trogger
Another "heads-up"?

Well, Strat must be feeling "off colour" - TWO calls today?

Don't say you never get anything for free!

Speaking of sterling, has anyone looked at Boss and Big Boss on the GBP.CHF lately?
Price is at Boss 20 again. I need to see what price will react to it. If price continues up, I will see how it reacts to Boss 50.
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  • #15,163
  • Jan 18, 2011 5:12pm Jan 18, 2011 5:12pm
Quoting trogger

So yes, I am looking for an opportunity to go long. A low-risk opportunity.

Could it keep going down and could I have my position wiped?
Sure.
And the risk is clearly defined. I accept the risk. If I see the PA, I will take the risk. Money management then becomes the key.
Candle closed. Close-up.
Attached Image
  • #15,164
  • Jan 18, 2011 8:01pm Jan 18, 2011 8:01pm
Quoting strat
Just posted on www.stratsforextrading.com

Post subject: LIVE TRADE GBPUSD
http://www.stratsforextrading.com/ph...ost_target.gifPosted: Tue Jan 18, 2011 5:46 pm...
I am surpriced and confused.... I tried to learn this method, but these trades are incomprehensive to me. All timeframes are pointing up. MAs just turned to the up. The candle on my data is realy not a SS (its wick should be 2 times bigger than body). The only thing which agrees is a strong level 1.6. But we trade PASR when it agrees with trend. I dont see PASR nor down trend. And risk 200 pips is realy enough to place the trade for only few reasons (much more reasons to not trade).
  • #15,165
  • Jan 18, 2011 10:28pm Jan 18, 2011 10:28pm
Quoting Milan
I am surpriced and confused.... I tried to learn this method, but these trades are incomprehensive to me. All timeframes are pointing up. MAs just turned to the up. The candle on my data is realy not a SS (its wick should be 2 times bigger than body). The only thing which agrees is a strong level 1.6. But we trade PASR when it agrees with trend. I dont see PASR nor down trend. And risk 200 pips is realy enough to place the trade for only few reasons (much more reasons to not trade).
The shooting star is a price reversal candle, and is a setup bar signaling the possibility of a short trade; after price has been going up.

This time it does not look like the trade will be successful, and now the candle which was looking like an SS at the close of trading, is now an inverted hammer. AN SS only occurs at the top of a series of rising bars.

Speaking personally, from my chart, at the close of the 18 January bar the

i)candle was an SS,

ii)on the 3 time frames price had been held down by the resistance of the upper big boss trendline, (see my chart) since broken by today's candle

iii) and also by the 3 TF R at the psycho 1.6, also broken by today's candle

3 good reasons to anticipate that the trend was about to reverse and go lower.

The price reversal candles, the SS and hammer are inherently more risky than other PA candles because they are counter to the immediate trend, and therefore conservative traders usually wait for confirmation before entering the trade. Followers of Strat's method look for trades that may be counter to the immediate trend, but will be in the same direction as the dominant trend.

By the way it does not pay to be too exact about the definitions of various bars, for example the ratio of the length of the wick to the candle true body; in trading you will usually find that "near enough is good enough" Have a look at the candle arrowed on the attached chart. Not a perfect SS, but the long upper wick indicated price reversal, and that is what followed.

I hope this helps your understanding.
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"Make everything as simple as possible, but not simpler" Albert Einstein
  • #15,166
  • Jan 19, 2011 1:04pm Jan 19, 2011 1:04pm
Quoting Milan
I am surpriced and confused.... I tried to learn this method, but these trades are incomprehensive to me. All timeframes are pointing up. MAs just turned to the up. The candle on my data is realy not a SS (its wick should be 2 times bigger than body). The only thing which agrees is a strong level 1.6. But we trade PASR when it agrees with trend. I dont see PASR nor down trend. And risk 200 pips is realy enough to place the trade for only few reasons (much more reasons to not trade).
Looks like you may have skipped some chapters in the PASR book MIlan.

The price reversal candles, the SS and hammer are inherently more risky than other PA candles because they are counter to the immediate trend, and therefore conservative traders usually wait for confirmation before entering the trade. Followers of Strat's method look for trades that may be counter to the immediate trend, but will be in the same direction as the dominant trend.

This is very basic and it is explained throughout the thread: BB down, Boss down, you wait for Worker to come up to a SR area, trendline or confluence of both plus a bit of PA (in this case a SS)and then you short! Can't be more simple..
Spinner 'Tis in the Waiting.....
  • #15,167
  • Jan 19, 2011 2:47pm Jan 19, 2011 2:47pm
Quoting strat
I am trading this LIVE for my subscribers on www.stratsforextrading.com

Order triggered at 1.2883
SL at 1.2832
RISK 51 pips

Reason for trade:

see www.stratsforextrading.com

Everything lined up except cycles which are in conflict BUT I don't trade cycles!

I have no targets but I expect PRICE to test the previous high at 1.3212 and possibly 1.35

I expect a wobble at the 20
SL moved to 1.2883 (entry) so at break even less spread - now trading with the Market's money, not mine!
15 YEARS OF PASR ON FOREX FACTORY!
  • #15,168
  • Jan 19, 2011 2:50pm Jan 19, 2011 2:50pm
Quoting strat
Just posted on www.stratsforextrading.com

Post subject: LIVE TRADE GBPUSD
http://www.stratsforextrading.com/ph...ost_target.gifPosted: Tue Jan 18, 2011 5:46 pm...
IB today on my data so everything left as is - status quo

(Additional comments added on www.stratsforextrading.com)
15 YEARS OF PASR ON FOREX FACTORY!
  • #15,169
  • Jan 19, 2011 2:52pm Jan 19, 2011 2:52pm
Quoting Spinner
Looks like you may have skipped some chapters in the PASR book MIlan.

The price reversal candles, the SS and hammer are inherently more risky than other PA candles because they are counter to the immediate trend, and therefore conservative traders usually wait for confirmation before entering the trade. Followers of Strat's method look for trades that may be counter to the immediate trend, but will be in the same direction as the dominant trend.

This is very basic and it is explained throughout the thread: BB down,...
This is very basic and it is explained throughout the thread: BB down, Boss down, you wait for Worker to come up to a SR area, trendline or confluence of both plus a bit of PA (in this case a SS)and then you short! Can't be more simple..

So simple even "I" can do it!
15 YEARS OF PASR ON FOREX FACTORY!
  • #15,170
  • Jan 19, 2011 3:23pm Jan 19, 2011 3:23pm
Quoting strat
IB today on my data so everything left as is - status quo

(Additional comments added on www.stratsforextrading.com)
Hi Strat and hope you will have a great New Year..
i know you always talk about different Feeds..just thought i will post the Proreal chart..i quite didnt get the SS as yours ..my Chart closes 2 hrs after US close..
Just wondering if a FADE will take place on the Highs and crate a BEARISH HIKAKE ...
Will wait for tommorow..
take care

baz

USD Spot.png
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  • #15,171
  • Jan 19, 2011 3:32pm Jan 19, 2011 3:32pm
i hope you dont mind STRAT...but an Intresting 12 HR TF on the EURO..i like this SS ....

USD Spot.png
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  • #15,172
  • Jan 19, 2011 5:09pm Jan 19, 2011 5:09pm
Quoting baz
i hope you dont mind STRAT...but an Intresting 12 HR TF on the EURO..i like this SS ....

USD Spot.png
No problem, baz, you are always very welcome to post on here
15 YEARS OF PASR ON FOREX FACTORY!
  • #15,173
  • Jan 19, 2011 5:51pm Jan 19, 2011 5:51pm
Quoting strat
IB today on my data so everything left as is - status quo

(Additional comments added on www.stratsforextrading.com)
I remember somebody has said "after a big candle, usually comes an inside candle for discount price". So I am in, after all it's only money.
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  • #15,174
  • Jan 19, 2011 6:03pm Jan 19, 2011 6:03pm
It's time for add on with market money.
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  • #15,175
  • Jan 19, 2011 6:12pm Jan 19, 2011 6:12pm
Quoting patrick25
This one is also on my watch list. I like the Boss price action on retracement back to Boss 20&50.
The time has come, no more thinking only reacting, it's only money
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  • #15,176
  • Jan 19, 2011 6:14pm Jan 19, 2011 6:14pm
Quoting patrick25
It's time for add on with market money.
Make it a "quickie" down to 0.9750 to 0.97!
15 YEARS OF PASR ON FOREX FACTORY!
  • #15,177
  • Jan 19, 2011 6:25pm Jan 19, 2011 6:25pm
Quoting strat
Make it a "quickie" down to 0.9750 to 0.97!
"quickie" is fine after you don't get it for a while -- trading that is.
  • #15,178
  • Jan 19, 2011 11:09pm Jan 19, 2011 11:09pm
Quoting Spinner
This is very basic and it is explained throughout the thread: BB down, Boss down, you wait for Worker to come up to a SR area, trendline or confluence of both plus a bit of PA (in this case a SS)and then you short! Can't be more simple..
Well, I don't understand it too.
Boss is down?
It's making weekly HH now and last week was BUEB technically.
Yes, there is strog R at 1.60 and bounce off monthly 20,...

but I thought boss is up.

Please, advice.
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  • #15,179
  • Jan 20, 2011 2:57am Jan 20, 2011 2:57am
Quoting JudyLA
Well, I don't understand it too.
Boss is down?
It's making weekly HH now and last week was BUEB technically.
Yes, there is strog R at 1.60 and bounce off monthly 20,...

but I thought boss is up.

Please, advice.
Maybe you're making HH andLL etc in the daily but marking them on the weekly.

My weekly looks a bit like this one
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Spinner 'Tis in the Waiting.....
  • #15,180
  • Jan 21, 2011 6:37am Jan 21, 2011 6:37am
Quoting strat
I am trading this LIVE for my subscribers on www.stratsforextrading.com

Order triggered at 1.2883
SL at 1.2832
RISK 51 pips

Reason for trade:

see www.stratsforextrading.com

Everything lined up except cycles which are in conflict BUT I don't trade cycles!

I have no targets but I expect PRICE to test the previous high at 1.3212 and possibly 1.35

I expect a wobble at the 20
All positions closed at 1.3068

Reasons for taking profit given on www.stratsforextrading.com
15 YEARS OF PASR ON FOREX FACTORY!
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