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  • #17,261
  • Jan 4, 2013 12:18pm Jan 4, 2013 12:18pm
NFP EURUSD 5 MINUTE

31 very low risk pips today before I lost interest.
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15 YEARS OF PASR ON FOREX FACTORY!
  • #17,262
  • Jan 4, 2013 2:34pm Jan 4, 2013 2:34pm
Quoting strat
Wild Thing, You Make My Heart Sing
You Make Everything Groovy, Wild Thing!

USDJPY 5434 pips and counting
AUDJPY 1630 pips and counting
GBPUSD 290 pips and counting


Maybe you should teach this thread!
Just can't think and dream about that pip count on a position... Now looking at chart and seeing "here is where Strat had opened"
  • #17,263
  • Jan 4, 2013 2:43pm Jan 4, 2013 2:43pm
Quoting BaliuxXx
Inspiring newsletter, thanks Strat.

GBPUSD

Making higher lows and higher highs but showing triple top at resistance. Waiting to buy from strat shadow or from support with trendline.

Attachment

Another one in strat shadow...

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  • #17,264
  • Jan 4, 2013 2:49pm Jan 4, 2013 2:49pm
Quoting BaliuxXx
Another one in strat shadow...

Attachment
Are you guys using 50 EMA or 63 EMA for the blue line? I read through Strat's site a few times but saw contradicting information on the website probably due to forgetting to edit. Some places it says 50 EMA and others it says 63...

Anyways, just curious as I have been using the 20 EMA (red) and 50 EMA (blue).

Cheers!
  • #17,265
  • Jan 4, 2013 3:24pm Jan 4, 2013 3:24pm
STRAT SHADOW
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15 YEARS OF PASR ON FOREX FACTORY!
  • #17,266
  • Jan 4, 2013 5:53pm Jan 4, 2013 5:53pm
Quoting BaliuxXx
Another one in strat shadow...

Attachment
Learning to recognize when to stay on the sideline is very important in trend trading to me. I was in the trade early at the low risk hoping for the break and continue trending. I was stopped out @ BE on second position. Price action is telling me no trending at this time.
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  • #17,267
  • Jan 5, 2013 12:10pm Jan 5, 2013 12:10pm
Quoting C-12
Are these the simple effective concepts?
Read this article that I wrote a couple of months ago:

Simple Trading is a Myth

The quest for simplicity in trading is as elusive as it is essential. Simple trading is probably a misleading marketing tool used by various self-proclaim trading “gurus” in order to manipulate novice and fragile traders into their spider nets.

Without doubt, most traders would value more simplicity in their trading career, but seldom move beyond this simple notion. Even the term “simplicity” can have different meanings to different traders, and the idea of simple trading evokes images such as easy and quick way to trading success.

Moreover, simplicity is not the absence of complexity in trading. Complexity is an integral part of trading. Originality to create the proper trading tools is the force that we as traders can learn to utilize in order to make the complicated simple. In other words, by developing the capability to obtain the appropriate trading tools, you can exceed circumstances. You can embrace the complexity of everyday trading and move through its chaos to the simplicity on the other side of complexity.

Therefore, a trader will integrate trading simplicity and success with the use of a trading strategy which requires a great amount of effort to attain. Don't be misled, achieving simplicity is not simple.

The desire for simplicity comes from the trading frustration which seems more complex than what we can handle. We learn to trade within complexity. SPA is developed with a framework for integrating vision, reality and action and it is certainly much easier for SPA traders to order trading decisions. The path for SPA traders to achieve their goals is simplified and success is within their reach.
  • #17,268
  • Jan 5, 2013 2:12pm Jan 5, 2013 2:12pm
Quoting Michael-SPA
You can embrace the complexity of everyday trading and move through its chaos to the simplicity on the other side of complexity.

Don't be misled, achieving simplicity is not simple.
What?! Sounds like you've been reading too many books. If you've got such a great method why don't you just use it or post it somewhere else other than Strat's thread?
  • #17,269
  • Jan 5, 2013 2:33pm Jan 5, 2013 2:33pm
Quoting Michael-SPA
Daily Hammer

We saw beyond the Thursday’s Shooting Star using our Simple Price Action concepts just to invalidate it. Simply, it wasn't a CBML retest. With the power of patience, we waited on the right time to act where our method could support our trading decisions.

You may claim that the Thursday’s Shooting Star work well this time and it provided the chance to a discipline trader either to make a small profit or to break-even. However, conventional SPA is designed and structured in a way to yield at least 3 digits pip profits.

At...
Here is a paragraph from my FIRST post:

At about the same time, I came across a few professional traders and ex - floor traders and thought this was my golden opportunity to learn THE SECRET. Well it was - but not what I expected!

Far from having super - dooper highly fandangled systems, I learned all they had was their EYES and EARS! No fancy squiggly lines for them - if it went up, they bought; if it went down they sold. Every single one of them told me the same thing - TRADING IS SIMPLE, DON'T COMPLICATE IT.

Since this thread is DEDICATED to trading PASR - PRICE ACTION at SUPPORT and RESISTANCE, the simple, basics and foundation of trading, please kindly refrain from posting other concepts. Thank you.
15 YEARS OF PASR ON FOREX FACTORY!
  • #17,270
  • Jan 5, 2013 5:14pm Jan 5, 2013 5:14pm
It seems that I spoiled something here. It wasn't my intention to damage anything in this thread. I assume this thread is here to help other traders based on a simple and a basic PASR.

The strange thing is that nobody took a position even to analyze the daily hammer apart of one person. Is this instrument not within your watch list? Do I miss something?

Could anyone that uses simple basic PASR tell me, Is this Hammer trade-able and why?
  • #17,271
  • Jan 5, 2013 6:44pm Jan 5, 2013 6:44pm
Quoting Michael-SPA
It seems that I spoiled something here. It wasn't my intention to damage anything in this thread. I assume this thread is here to help other traders based on a simple and a basic PASR.

The strange thing is that nobody took a position even to analyze the daily hammer apart of one person. Is this instrument not within your watch list? Do I miss something?

Could anyone that uses simple basic PASR tell me, Is this Hammer trade-able and why?
AUDCAD

AUDCAD BOSS is stuck in a 150 pip range - from where it is at now, it can go up 80 pips or go down 64 pips - these are short time frame moves, not daily moves. I don't look at a pair unless the potential is triple digits.

There is much more potential with lower risk on other pairs.
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15 YEARS OF PASR ON FOREX FACTORY!
  • #17,272
  • Jan 6, 2013 2:05am Jan 6, 2013 2:05am
So, this Daily Hammer (the king of price action trading) is not trade-able according to the simple, basics and foundation trading of PASR because of the following:

Price can move either north 80 pips but also she can go south 64 pips. Definitely, price is uncertain and she can do whatever she wants. I understand this.

Moreover, the relevant PA setup has not a potential of a triple digit movement with existing facts. How do we know this in simple terms? I mean what are these specific facts that indicate a movement less than 3 digits?

Finally, this is a non trade-able Hammer because it entails high risk. How do we determine the risk? I thought that the only variable that a trader can control is the risk, isn’t it?

I am asking simple questions and I expect to get simple answers. Can anyone help me?

Thanks Strat for your answer, anyway.
  • #17,273
  • Jan 6, 2013 3:04am Jan 6, 2013 3:04am
Last question: Could your perspective towards the existing PA setup on the chart below differ after flipping the chart vertically and always in the essence of PASR? If yes why? Be honest...
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  • #17,274
  • Jan 6, 2013 5:01am Jan 6, 2013 5:01am
Hello Strat and others,

I'm going to write what I do every weekend with my charts to prepare for new week. Every comment are welcome for what I'm doing wrong (o right?).

Big Boss

Firstly, opening a clean line chart with strat shadow only.

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Searching for the first SR above current price.

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Then switch to candle stick chart and adjust line to match more closes of candles. Lifting a little bit up.

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Again search for the SR below current price.

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Switch to the candle stick chart and adjust line. Nothing done with current line cause it looks good.

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Now switching from Big Boss to Boss. In another post.
  • #17,275
  • Jan 6, 2013 5:08am Jan 6, 2013 5:08am
Boss

Like for Big Boss, find first SR above price.

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Switching to candle stick chart and adjust new line. Lifting a little bit up.

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Searching for SR below price.

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Adjusting that line in candle stick chart.

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SR for 1.3250 could be drawn as one line. But I like them both, so I could see that it is found from Big Boss and from Boss and it means it is stronger.

Next post worker.
  • #17,276
  • Jan 6, 2013 5:14am Jan 6, 2013 5:14am
Worker

Toggling down to worker and add some new common lines if needed.

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Looking at strat shadow, seeing it is heading up and drawing trendline with it. Trendline touches more then twice.

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There was a hammer on friday. But price is in strat shadow and there is a strong resistance above price to deal with.

Waiting for comments

Thanks,
Donatas
  • #17,277
  • Edited 1:13pm Jan 6, 2013 12:58pm | Edited 1:13pm
Quoting Michael-SPA
So, this Daily Hammer (the king of price action trading) is not trade-able according to the simple, basics and foundation trading of PASR because of the following:

Price can move either north 80 pips but also she can go south 64 pips. Definitely, price is uncertain and she can do whatever she wants. I understand this.

Moreover, the relevant PA setup has not a potential of a triple digit movement with existing facts. How do we know this in simple terms? I mean what are these specific facts that indicate a movement less than 3 digits?

Finally,...
Here are YOUR answers to YOUR questions:

The Daily Hammer has a great shape and size in comparison with the other neighboring candles. It exceeded the ADR (5) by 35%.

The Daily Hammer was formed at a “complete” trading period meaning the holidays have finished for the majority of market traders.

Consolidation is not an issue for an experienced SPA trader. On the contrary, consolidation is a goldmine for SPA traders.

Finally, the location of the Daily hammer is great but its closing is greater.

SPA is not an anti-social method. To the contrary, it can give you the freedom to live the life you want, something quite rare these days... Unlike other methods that separate the trader from normal living.
SPA utilizes simple and effective concepts that rely on facts therefore the "analysis paralysis" frustration is not an issue. Moreover, it gives you plenty of time to reinforce the emotional aspect of trading which is the most crucial element towards consistency and success.
SPA is protecting you from the temptation to trade impulsively since the decision making process is based on a detailed checklist of specific criteria to be followed before considering entering a trade.
SPA is constructed in such a way that will automatically safeguard you from over-trading.
Subjective and complex to the analysis variables such as "News" or "Fundamentals" are excluded from the SPA trading decision process.
SPA can protect you from price manipulations usually done by dishonest brokers/dealers.
SPA is a concrete methodology that will evolve your solid “intuition” about the markets.
SPA can be applied in all trading instruments, creating an overabundance of trading opportunities to exploit price.
SPA deals with the markets without any biases built into the method. SPA doesn't rely on any fancy indicators but incorporates price. Indicators can help you understand why markets did what they did in the past. To the contrary, SPA can help you see the future in a probabilistic way, through simple concepts directly relying on price action.

If your SPA is as good as you think it is why do you need to doubt it?
15 YEARS OF PASR ON FOREX FACTORY!
  • #17,278
  • Edited 1:15pm Jan 6, 2013 12:59pm | Edited 1:15pm
Quoting Michael-SPA
Last question: Could your perspective towards the existing PA setup on the chart below differ after flipping the chart vertically and always in the essence of PASR? If yes why? Be honest...
I haven't a clue what you are talking about. We don't need to flip the chart anywhere, we just READ what we SEE on the charts.

I am always honest, brutally honest
15 YEARS OF PASR ON FOREX FACTORY!
  • #17,279
  • Jan 6, 2013 1:03pm Jan 6, 2013 1:03pm
Quoting Michael-SPA
Read this article that I wrote a couple of months ago:

Simple Trading is a Myth

The quest for simplicity in trading is as elusive as it is essential. Simple trading is probably a misleading marketing tool used by various self-proclaim trading “gurus” in order to manipulate novice and fragile traders into their spider nets.

Without doubt, most traders would value more simplicity in their trading career, but seldom move beyond this simple notion. Even the term “simplicity” can have different meanings to different traders, and the idea of simple...
TRADING IS SIMPLE is a REALITY, however, it is NOT easy. It is ALWAYS the trader who COMPLICATES it. This is why 95% of a trader's success is Trading Psychology.
15 YEARS OF PASR ON FOREX FACTORY!
  • #17,280
  • Jan 6, 2013 1:10pm Jan 6, 2013 1:10pm
Quoting BaliuxXx
Hello Strat and others,

I'm going to write what I do every weekend with my charts to prepare for new week. Every comment are welcome for what I'm doing wrong (o right?).
This is exactly how I start my students - from the Big Boss down to the Boss to the time frame we trade, The Worker. However, using a line chart is like driving a car at night without lights. The PRICE candles on ALL time frames are an INTEGRAL part of PASR. We NEED to SEE them so that we can analyse and interpret what they are telling us.

The only use for a line chart is for beginning students to identify SR levels. Once they can do that, they move on to PRICE candles and put the line chart back in its box.
15 YEARS OF PASR ON FOREX FACTORY!
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