Strat's Long Term Stress Free Trading

Sinan · #**7321** Nov 6, 2009 4:24am

Quote:

Originally Posted by Blackeagle

And one last suggestion, try not to use too many DSRIs on your chart. At the moment, attached is what I have, clean eh? Hope this helps.

Well for me that chart helped a lot, DSRI hadn't really clicked until I reviewed your chart...so many things are clear now...thanks once again.

cmdr-powell · #**7322** Nov 6, 2009 5:44am

I've been trading for years with mixed results, and generally not very well. However I think I'm maturing in my attitude to FX. One thing I've realised is that systems don't work.

By a system I mean a set of rules, for example; if price crosses above MA and QQE is above zero then go long. Systems don't work for long because as we know the market changes from day to day. This is also why robots don't work either, they simply aren't dynamic enough.

I think that a trader only needs to be able to do two things; interpret the market sentiment correctly within the time-frame(s) that they are using and identify a safe place to enter and leave the market according to that sentiment.

I'm tempted to place a buy stop above 1.6800 on cable, but how can we know that NFP is going to give the market the necessary momentum to break above this level? We can't, so we must wait and see and react according to that outcome later today and in the days or weeks that follow.

I think Strat is not teaching us a system here, he's showing us how to look at the market without prejudice.

Great thread, keep it coming.

elitejets · #**7323** Nov 6, 2009 11:12am

Alexandra
Did you leave the stops on your 90000 lots in a really obvious place again?
Good thing is we can buy it cheaper ...

mstandifer · #**7324** Nov 6, 2009 1:14pm

Quote:

Originally Posted by strat

Exactly right, mstandifer! No standing in the corner with a Dunce hat on for you.
In my use, they are more valuable than Dow, Gann, Elliott and Fibonacci COMBINED!

Thank you, Strat. That's a relief.

Quote:

Originally Posted by Blackeagle

It becomes old when price does not respect it anymore. But this issue is really subjective, it may be old for me but not for someone else.

And one last suggestion, try not to use too many DSRIs on your chart. At the moment, attached is what I have, clean eh? Hope this helps.

Thank you, Blackeagle. That was exactly the information I was looking for.

Grimweasel · #**7325** Nov 6, 2009 1:37pm

Quote:

Originally Posted by mstandifer

Thank you, Strat. That's a relief.

Thank you, Blackeagle. That was exactly the information I was looking for.

Sorry Mstandifer - I wasn't very clear with my explanation. I agree with you about TLs and DRSI being two different things. What I meant was that a line that joins extremes, to me, is just a trend line. A DSRI line would be where price had acted around that line and its acted (the line) as both support and resistance. I noted some people had been confused and referred to TLs on their charts as DSRI - which in most cases is untrue as they are just acting as either support or resistance NOT dynamic and tested etc from the other side.

Sorry for my lack of clarity in my post, I was trying to show just that!

Grimweasel · #**7326** Nov 6, 2009 2:48pm

Post #6589 - just thought I'd follow up on this cadyen trade to update if anyone was following. The double top bear flag went on to produce a nice trade from the BEOB on 20 Oct 09. The 3 green candles before the BEOB gave the momentum away as did the (only just) lower high bear flag.

PA has now touched the up trend line from the lows so this would be a good place to take off half of the trade. I moved my stop (red dotted line) to the last swing high at the descending TL from the boss chart.

el_duende · #**7327** Nov 6, 2009 3:07pm

This is the best forex factory thread so I will post here more often

I went long on AUD/USD.

Price has hit support at 0.90 and has respected the DSRI line, also with the trend and has a nice space all way up to 0.94

el_duende · #**7328** Nov 6, 2009 3:09pm

I also have an instinct with GBP/USD, I think next week we will see the 1.66 broken for more upside. Will wait for more more confrmation to see wether my gut instinct is right

Alexandra · #**7329** Nov 6, 2009 6:53pm

Quote:

Originally Posted by elitejets

Alexandra
Did you leave the stops on your 90000 lots in a really obvious place again?
Good thing is we can buy it cheaper ...

LOL - Nope. Someone did though - that smacked of a Friday runoff, didn't it! I'm in until that right shoulder falls. Starting to tap my foot though. At some point, we should have enough run to buy some Saki for everyone on this thread! Patience and long term analysis will prevail.

I did add some E/J on a weekly close (as you rightly suggested) off the big fat support.

strat · #**7330** Nov 6, 2009 10:28pm

Quote:

Originally Posted by CrudeCraig

Pretty cool example of how important daily closes are.

Another step on The Path for you, young man!

jag1966 · #**7331** Nov 7, 2009 4:42am

Quote:

Originally Posted by strat

[font=Arial][size=2]The following web page plays a great...

Hi Strat,

I'm dilligently working through your excellent thread post by post reading and trying to understand, thankyou all.

The Mark Douglas video link was broken I have found an alternative.

http://www.4shared.com/file/96740657...er_Market.html

Thanks again.

Cjn · #**7332** Nov 7, 2009 5:06am

Hey Strat,
Thanks for this great thread. Also thanks for the great writing style and sense of humour you weave through your posts. It's truly refreshing.
I'd like to point out the obvious and stress it once again: This is not only a stress free trading method, it's the only trading method that works.

The way you lay out the plan and present truths as truths and lies as lies is what all readers on FF should take at heart. Indicators lag. Always.
I don't know if I'm out of line here, but there's a great book I'd like to recommend to everybody and to people who are new to price action in particular. It's written by Steve Nison and it's called 'Japanese Candlestick Charting Techniques'. Google it and you'll probably run into a PDF that's available online, once you get the picture and find it helpfull you should simply buy it for reference.

It's a must-read for every trader who wants to take his trading up a notch and NO I'm not employed at the publisher. Once again, Strat, thanks for this thread for it's the one that will keep a lot of traders out of the busy Crosstown Traffic.

Keyser Soze · #**7333** Nov 7, 2009 5:29am

Quote:

Originally Posted by Cjn

Hey Strat,
It's written by Steve Nison and it's called 'Japanese Candlestick Charting Techniques'.

I've just finished to read the index, i will start to read the whole thread now.

I know that Strat mentioned this book and others by Pring but it would be great if we have a bibliography

I've analyzed the trades i've made last week and i've already spotted some errors.

Thank you Strat

Grimweasel · #**7334** Nov 7, 2009 6:49am

Browsing some Forex/FTSE 100 correlations this morning on Sharescope - some interesting finds. The 'FTSE100 relative to...' line is the thin green line.

Lotuselanman · #**7335** Nov 7, 2009 8:19am

Quote:

Originally Posted by Grimweasel

Browsing some Forex/FTSE 100 correlations this morning on Sharescope - some interesting finds. The 'FTSE100 relative to...' line is the thin green line.

Could you explain a bit further please Grim. Charts can be fascinating but I am not sure what the implication of these FTSE100/Forex ones are for our trading.

I'm only one step along the Path so need a bit more elucidation. Sorry!