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Strat's Long Term Stress Free Trading

  • #17,701
  • Feb 21, 2013 9:36am Feb 21, 2013 9:36am
Quoting patrick25
Gbpchf

This is what PA about. The big foot print protect your profit.
can be good point to sell again if price turn downwords.
trading is not an addiction. it's a profession.
  • #17,702
  • Feb 21, 2013 9:36am Feb 21, 2013 9:36am
Euraud

Tails of city.
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  • #17,703
  • Feb 21, 2013 9:48am Feb 21, 2013 9:48am
Quoting haimber
can be good point to sell again if price turn downwords.
Only if price closes below the Boss support. We should take less sell trades at this time. Aggressive sells are long gone.
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  • #17,704
  • Feb 21, 2013 10:47am Feb 21, 2013 10:47am
Quoting patrick25
Only if price closes below the Boss support. We should take less sell trades at this time. Aggressive sells are long gone.
In my view in no way I want to sell this. I'm looking to go long this pair.

On weekly (BOSS) - Week starting 2011.08.07 we had a huge hammer bar with strong close sending prices 2600 pips. The BOSS bar starting september 4th also helped to accomplish this. Did trend change started by this move? I think we're in a retracement and I see signs of it ending.
We also have support line 1.4250 which price has hit and unable to brake for the 4th week in a row.

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On Worker - Febaruary 1st we had prices approaching resistance and we seen that there are buyers at that level but price couldn't get out, out of this strong move down and price was turned down by 20 MA. Now we have another hit of the support line and have another strong bullish bar. Maybe we can even call it BUEB. I'm willing to enter here and see what Friday will give us aganst this 20 MA. This is definitely a high risk trade.

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  • #17,705
  • Feb 21, 2013 11:05am Feb 21, 2013 11:05am
EUR/GBP

Another PA to look at. This is counter trend situation that looks interesting.

On Boss we had a trend change to the upside. With 4 strong weekly candles taking prices to the sky or untill prices stalled at resistance line of 0.8700 on Feb. 3rd. Next week giving us strong BEEB . But we could not take this counter trend because that BEEB we against all this new strong trend up and also against those 4 weekly bullish candles or looking at Big Boss that huge bullish bar ( which strangely ended at 50 MA ) . Looking at next week we have bullish bar making me believe price is not yet done going up. But this week, though it's only Thursday we have more signs that this strong trend up is ending while price is still unable to break that resistance.

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On Worker we can see closely how this fight against that resistance line is working out. We can see that it's the 4th time trying to break this resistance but unable to do so giving us strong BEEB AT resistance today. But we also have 20 MA for which price has listened to for last few days close by not letting to take this counter trade. We have to wait for PA next week to see what will price do then and what signals it will give us.

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Good trading all
  • #17,706
  • Feb 21, 2013 11:10am Feb 21, 2013 11:10am
Quoting kaunasny
In my view in no way I want to sell this. I'm looking to go long this pair.

On weekly (BOSS) - Week starting 2011.08.07 we had a huge hammer bar with strong close sending prices 2600 pips. The BOSS bar starting september 4th also helped to accomplish this. Did trend change started by this move? I think we're in a retracement and I see signs of it ending.
We also have support line 1.4250 which price has hit and unable to brake for the 4th week in a row.

Attachment

On Worker - Febaruary 1st we had prices approaching...

dont hurry to say we are in reversal!! trend in the weekly is down although the price stalls on a support. if it turn up from this level- ONLY time will tell. but to buy right now its a gamble. the last daily bar is sort of pullback. i would not call it BUEB maybe strat will explain it.
trading is not an addiction. it's a profession.
  • #17,707
  • Feb 21, 2013 11:12am Feb 21, 2013 11:12am
Kaunasny,

Two counter trend trades are not stress-free! Good luck...
  • #17,708
  • Feb 21, 2013 11:48am Feb 21, 2013 11:48am
Quoting kaunasny
EUR/GBP

Another PA to look at. This is counter trend situation that looks interesting.

On Boss we had a trend change to the upside. With 4 strong weekly candles taking prices to the sky or untill prices stalled at resistance line of 0.8700 on Feb. 3rd. Next week giving us strong BEEB . But we could not take this counter trend because that BEEB we against all this new strong trend up and also against those 4 weekly bullish candles or looking at Big Boss that huge bullish bar ( which strangely ended at 50 MA ) . Looking at next week we...
That is PASR. You have to know what hat you put on and have a plan for it.
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  • #17,709
  • Feb 21, 2013 12:01pm Feb 21, 2013 12:01pm
EURGBP

lets make it simple. in weekly and monthly we have a chanel. now price broke it and we see some struggle in the TL area.
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trading is not an addiction. it's a profession.
  • #17,710
  • Edited 12:52pm Feb 21, 2013 12:41pm | Edited 12:52pm
Quoting haimber
EURGBP

lets make it simple. in weekly and monthly we have a chanel. now price broke it and we see some struggle in the TL area.
Let make it simpler, that is a shooting star on my broker weekly chart only one day left. May be first people in the know got out last time, may be this time is for second people in the know get out. Some thing to think about, us retail traders not in the know get the worst of it.
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  • #17,711
  • Feb 21, 2013 1:53pm Feb 21, 2013 1:53pm
Quoting haimber
i would not call it BUEB maybe strat will explain it.
Nothing to explain - its not a PASR Price Action candle so we can't take any action.
15 YEARS OF PASR ON FOREX FACTORY!
  • #17,712
  • Feb 21, 2013 2:03pm Feb 21, 2013 2:03pm
Quoting haimber
EURGBP

lets make it simple. in weekly and monthly we have a chanel. now price broke it and we see some struggle in the TL area.
You have fallen into the trap of drawing trend lines to SUIT YOUR BELIEFS.

Your TL is incorrectly drawn - see my blue TL which accurately identifies current Price Action.
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15 YEARS OF PASR ON FOREX FACTORY!
  • #17,713
  • Feb 21, 2013 3:16pm Feb 21, 2013 3:16pm
EURUSD

CROSSROADS - Eric Clapton

Full discussion posted
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15 YEARS OF PASR ON FOREX FACTORY!
  • #17,714
  • Feb 21, 2013 3:26pm Feb 21, 2013 3:26pm
Quoting kaunasny
In my view in no way I want to sell this. I'm looking to go long this pair.

On weekly (BOSS) - Week starting 2011.08.07 we had a huge hammer bar with strong close sending prices 2600 pips. The BOSS bar starting september 4th also helped to accomplish this. Did trend change started by this move? I think we're in a retracement and I see signs of it ending.
We also have support line 1.4250 which price has hit and unable to brake for the 4th week in a row.

Attachment

On Worker - Febaruary 1st we had prices approaching resistance...
I will save you the time and effort so send me the money you were going to LOSE on this trade.

Instead of GUESSING, WAIT and WATCH what PRICE does at the Strat Shadow, if it gets there.

But before all that here are some relevant excerpts for YOU from my Mantra:

We TRADE TO LIVE. We are NOT like others who LIVE TO TRADE.


We need PATIENCE to wait for and "SEE" opportunities


We need DISCIPLINE to act and trade on such opportunities


We believe in the Holy Grail. We know what the Holy Grail is. We have found the Holy Grail and our search for trading enlightenment is over.


We can only take what the market gives us - we do "NOT" force the market


We are PROFESSIONALS and PROFESSIONALS look for a reason NOT to take a trade

We are NOT Amateurs. Amateurs manage money by taking RISK. PROFESSIONALS manage RISK by taking money.
15 YEARS OF PASR ON FOREX FACTORY!
  • #17,715
  • Feb 22, 2013 1:07am Feb 22, 2013 1:07am
Quoting strat
You have fallen into the trap of drawing trend lines to SUIT YOUR BELIEFS.

Your TL is incorrectly drawn - see my blue TL which accurately identifies current Price Action.

not at all. i trade what i see not what i think.

some treders draw TL from the wicks and some draw it from the close. i personally draw it from the wicks.
could you explain the logic of start drawing TL from the close and in the end put in on the wick? ask to understand.
trading is not an addiction. it's a profession.
  • #17,716
  • Edited 4:47am Feb 22, 2013 1:58am | Edited 4:47am
Quoting strat
But you didn't buy at the bottom and instead jumped in near the current high so you are not trend trading following my interpretation of Dr. Joe.
Thanks Patrick and Strat!

Well i thought i would understand allready...I must realize that I have understood nothing before...back to learning
  • #17,717
  • Feb 22, 2013 7:16am Feb 22, 2013 7:16am
Quoting haimber
not at all. i trade what i see not what i think.

some treders draw TL from the wicks and some draw it from the close. i personally draw it from the wicks.
could you explain the logic of start drawing TL from the close and in the end put in on the wick? ask to understand.
First, you must UNDERSTAND what you are doing by drawing a trend line. It is not simply drawing a line from wick to wick and tail to tail as the 95% do. We are trying to CAPTURE the actions (read emotions) of the majority of the buyers and sellers. Despite what you read by the Forex Marketing Media and the author-wannabe-trader book publisher, there are no hard and fast rules for drawing trend lines. Experience and UNDERSTANDING of the market and trading is all I can tell you to draw meaningful trend lines. Experience allows you to SEE the emotions and sentiment in the market which you then translate into information on your charts and analysis.

One tip I will give you is that the most current information is far more important than the information "x" days ago which is one of the many reasons why indicators are useless.
15 YEARS OF PASR ON FOREX FACTORY!
  • #17,718
  • Feb 22, 2013 7:21am Feb 22, 2013 7:21am
Quoting bullzeye
Thanks Patrick and Strat!

Well i thought i would understand allready...I must realize that I have understood nothing before...back to learning
It takes YEARS to UNDERSTAND - the longer you do it, the better you get at it ( said the actress to the Bishop!).

There is no trader living or in the past, who fully UNDERSTANDS the market. When you reach the exalted position that you fully UNDERSTAND the market, I GUARANTEE the market will slap you in the face with something new!
15 YEARS OF PASR ON FOREX FACTORY!
  • #17,719
  • Feb 22, 2013 8:08am Feb 22, 2013 8:08am
Quoting haimber
EURGBP

lets make it simple. in weekly and monthly we have a chanel. now price broke it and we see some struggle in the TL area.
Hi,

Drawing TL's is a tricky thing. I would consider a TL as a support or resistance line. They are not exact number. It is an area of support/resistance. Especially here on a weekly chart. I would say we could give it +100pips/-100 pips to our accuracy of the the trend line we draw and consider a breakout once its broken atleast of 200 here. So for the current price action we're having, I would say it's not struggle of the support, it's a struggle at resistance of that trendline.
  • #17,720
  • Feb 22, 2013 8:47am Feb 22, 2013 8:47am
Quoting strat
I will save you the time and effort so send me the money you were going to LOSE on this trade.

Instead of GUESSING, WAIT and WATCH what PRICE does at the Strat Shadow, if it gets there.

But before all that here are some relevant excerpts for YOU from my Mantra:

We TRADE TO LIVE. We are NOT like others who LIVE TO TRADE.


We need PATIENCE to wait for and "SEE" opportunities


[b][font=&quot]We need DISCIPLINE to act and trade...
Thank you Strat for your comments. I have posted this risky trade so you could teach me and of course many others who will read this. I will try to take these trades away from this thread and keep them for myself, and later decide for myself if I want to keep them at all.
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