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  • #661
  • Feb 4, 2024 7:25pm Feb 4, 2024 7:25pm
Quoting lolxhaha
Was catching up on the updates to the thread... somewhere I read that Rob believes that some can go from $5000 to a millionaire in a year with the information shared here, while some thinks it may sound too good to be true. I re-visited post #306 (https://www.forexfactory.com/thread/...1#post14726161) and #310 (https://www.forexfactory.com/thread/...9#post14726169) and came to a conclusion, both are right.... Time for me to prepare for the new week ahead...
Rob is right.
only applies to the skilled and experienced traders.
just by looking at post 1, they already know what it is all about.

if this method is being taught to a class of 10 students.
it is realistic to assume that they have very different results in live trading.
some with profit, some with loss, some with break even.
so it is all relative.

back to reality.
with daily discipline, patience and consistency to learn and take action with application for 6 months, some will make it. so it is not just simply to obtain knowledge.
some even after 10 years also cannot make it. they have difficulty in grasping concepts. then they have to realize to stop knocking their head on the wall.
ITB - Seeing Orderliness amongst 'Randomness'
  • #662
  • Feb 4, 2024 7:26pm Feb 4, 2024 7:26pm
Quoting ifayiC95
hiya hi do i find out the beginning of how to use your techniques please as i only found you today
everyone started from post 1 to where you have just posted.
ITB - Seeing Orderliness amongst 'Randomness'
  • #663
  • Feb 4, 2024 7:53pm Feb 4, 2024 7:53pm
Quoting Islandfx911
Hi Traders, I'll get started on chart analysis ready for tomorrow. Weekly chart showing SR {image} What are these charts telling you? {image} Next 4hr. Price dropped sharply after News and stopped at support {image} So we have put together some analysis on AU. Now comes the important part and I want you to pay special attention to what I have to say. In the morning I have not got a clue what the market is going to do as none of you do. So in my great wisdom I give you the following advice. If you get a Buy signal, Buy it. If you get a Sell signal,...

AU Feb05 Weekly

- this is an example of what @Lou posted about Rob Smith The STRAT price action reading the candlestick

- Weekly Inside Bar candle and Outside Bar candle , which he would label them 1 and 3,

- the Trust Bar is label as 2 is the previous week before the Inside Bar

- this is a 2-1-3 in The STRAT price action

- 3 happens to be a rejection candle at Weekly SnR 65758

- this week gonna to be complex ... with that rejection candle trading, can buy and also can sell within that high-low.

Attached Image (click to enlarge)
Click to Enlarge Name: AU Feb05 Weekly IB OB 5-2-2024 9-44-55 am.png Size: 20 KB


Note; The STRAT price action trading is quite complex for those who do not like to read the candles ... candle-by-candle as they develop. You need to learn to read every candle and interpret the market movements. Quite tiring when you do this in lower timeframes like m5 and without the higher timeframes views, you will run into trouble with mental exhaustion.



...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #664
  • Edited 9:30pm Feb 4, 2024 8:24pm | Edited 9:30pm
Hi Traders,
Took a long on EJ, This is a higher risk trade as it was taken off support but heading into resistance.
Just thought I would post it to see what happens.

Attached Image (click to enlarge)
Click to Enlarge Name: EJ 05 02 24 Long AS.png Size: 15 KB



Update: Resistance won the day. Out for +1
Your trade order needs to be in the right place at the right time.
  • #665
  • Feb 4, 2024 9:19pm Feb 4, 2024 9:19pm
Quoting emmanuel7788
{quote} AU Feb05 Weekly - this is an example of what @Lou posted about Rob Smith The STRAT price action reading the candlestick - Weekly Inside Bar candle and Outside Bar candle , which he would label them 1 and 3, - the Trust Bar is label as 2 is the previous week before the Inside Bar - this is a 2-1-3 in The STRAT price action - 3 happens to be a rejection candle at Weekly SnR 65758 - this week gonna to be complex ... with that rejection candle trading, can buy and also can sell within that high-low. {image} Note; The STRAT price action trading...
I've researched Rob Smith and his "TheStrat" method, he had a website that sold his material but unfortunately he died last year and unbelievably some one has set up a "Go Fund Me" page to pay for his funeral........must have been a really successful trader. I tend to think he was just another self promoting Guru.
I think "Islandfx911" is onto something with his thread so let's not pollute it with the likes of Rob Smith.
  • #666
  • Feb 4, 2024 11:58pm Feb 4, 2024 11:58pm
GBPJPY.......... Let's watch this in the London Session

I'm keeping an eyes........
Attached Image (click to enlarge)
Click to Enlarge Name: 2024-02-05_05-53-12.png Size: 35 KB
  • #667
  • Feb 5, 2024 12:49am Feb 5, 2024 12:49am
Quoting emmanuel7788
{quote} AU Feb05 Weekly - this is an example of what @Lou posted about Rob Smith The STRAT price action reading the candlestick - Weekly Inside Bar candle and Outside Bar candle , which he would label them 1 and 3, - the Trust Bar is label as 2 is the previous week before the Inside Bar - this is a 2-1-3 in The STRAT price action - 3 happens to be a rejection candle at Weekly SnR 65758 - this week gonna to be complex ... with that rejection candle trading, can buy and also can sell within that high-low. {image} Note; The STRAT price action trading...

AU Feb05 m5 London 06:45am

- a lot happening around Weekly SnR

Attached Image (click to enlarge)
Click to Enlarge Name: AU Feb05 m5 entry Weeklu SnR 5-2-2024 2-46-23 pm.png Size: 23 KB



...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #668
  • Feb 5, 2024 12:51am Feb 5, 2024 12:51am
Quoting edge540
{quote} I've researched Rob Smith and his "TheStrat" method, he had a website that sold his material but unfortunately he died last year and unbelievably some one has set up a "Go Fund Me" page to pay for his funeral........must have been a really successful trader. I tend to think he was just another self promoting Guru. I think "Islandfx911" is onto something with his thread so let's not pollute it with the likes of Rob Smith.

@edge540

You believe all things you read on the internet


...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #669
  • Feb 5, 2024 1:05am Feb 5, 2024 1:05am
Quoting ifayiC95
hiya hi do i find out the beginning of how to use your techniques please as i only found you today
Go back to post 1 page 1 and start reading from there to get up to speed
  • #670
  • Feb 5, 2024 3:32am Feb 5, 2024 3:32am
i saw the fuss about strat. he is not around anymore.
curiosity got the better of me, so i did some looking around.
i will only make this one post and no more, so do not post charts or discuss about his methods here.
this is for broadening your knowledge's sake only that i want to direct you to.

i think his students in the FF thread should be made aware and switch to his other method.
i want to give him credit when credit is due.
you can search in youtube and take a look at one of his student's video.
#TheStrat Basics. As easy as 1-2-3!
this is price action reading, bar by bar.
so much easier to understand than al brooks.
ITB - Seeing Orderliness amongst 'Randomness'
  • #671
  • Feb 5, 2024 5:30am Feb 5, 2024 5:30am
Hi Traders,
Nothing really happened much for me with trades today, just a few break even trades.
Tomorrow is a new day and new opportunities will be there for the taking.
Just wanted to also thank you all for your posts, I look forward to reading them while waiting for the Asian session.

Regards
Rob
Your trade order needs to be in the right place at the right time.
  • #672
  • Feb 5, 2024 5:39am Feb 5, 2024 5:39am
I have made two trades in London, one buy in GU which has come out in BE and I currently have an open sell in UJ.
I made the entry at 15M based on what I saw in 4H previously.
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYxH4.png Size: 6 KB
  • #673
  • Feb 5, 2024 5:48am Feb 5, 2024 5:48am
Quoting Nortal
I know Rob likes us to show our ideas. As a student of his system I leave my vision, right or wrong, time will tell. {image} {image}
This is working well but I'm not in, in London it was already late and in Asia I'm sleeping zZzZ
  • #674
  • Feb 5, 2024 5:49am Feb 5, 2024 5:49am
Quoting Nortal
I have made two trades in London, one buy in GU which has come out in BE and I currently have an open sell in UJ. I made the entry at 15M based on what I saw in 4H previously. {image}
Well done Nortal,
It has not been an easy day. Keep at it and remember to plan and take quality trades.
Regards
Rob
Your trade order needs to be in the right place at the right time.
  • #675
  • Feb 5, 2024 6:46am Feb 5, 2024 6:46am
I dont know why I didnt enter this - I sat and watched the rejection candle..... just looked and a lovely little trade, was this a valid one please? thanks
Attached Image(s) (click to enlarge)
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  • #676
  • Feb 5, 2024 7:30am Feb 5, 2024 7:30am
Quoting FXState
GBPJPY.......... Let's watch this in the London Session I'm keeping an eyes........ {image}
GBPJPY

Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYM30.png Size: 9 KB
  • #677
  • Feb 5, 2024 7:30am Feb 5, 2024 7:30am
Quoting Mellifluous
I dont know why I didnt enter this - I sat and watched the rejection candle..... just looked and a lovely little trade, was this a valid one please? thanks {image} {image} {image}
I have plotted what would have been my entry candle and how I would set my SL from your third screenshot, with the assumption that your key levels were what I would have gotten via the weekly > daily > 4H >M30 drills adjusting the lines to better fit the lower time frames as you move your way down.

Personally, I would note candles and SL zones on my chart, post them here and not enter if I didn't feel confident either in myself or the system. But with hindsight you can always revisit your candles and SL at the end of the day to see how it would have turned out. I think of this exercise as attempting a quiz to the best of my abilities and looking at the answer sheet later. Regardless of whether the entry would have moved in your favour, write down your justifications. Double check if your justifications match the concepts shared in earlier posts.

The system is an easy to understand framework to identify entries with good probabilities of success, the risk/reward aspect take cares of the profitability over multiple trades over time. You have to first build your intuition and the confidence both in yourself and the system to take the trades when you see them.

All the best!
Attached Image (click to enlarge)
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  • #678
  • Edited 8:06am Feb 5, 2024 7:38am | Edited 8:06am
Busy week this week so today I wasn't able to take a look at the charts during the asian sessions.

Fired up the charts just now and this would have been a trade to take for XAUUSD during the London session based on the system. I did not enter the trade identified at the London session, but if I did i would do the following:

1) Take partials (50% of position at 2021 key level @ 4.7x RR, and leave the remainder to run up to 7.5RR)
2) Move stop loss to either 2021 key level (which would have been a stop out) or BE for the remainder (which will still be running now)

It is currently the NY open so there could be an opportunity for a short re-entry at the 2021 key level.

Update: London session entry runner would have been my first 7.5RR of the week, albeit at half the position.
Attached Image (click to enlarge)
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  • #679
  • Feb 5, 2024 8:02am Feb 5, 2024 8:02am
Re-visited the AU to see if I had missed any trades, there would have been two entries, one during the Sydney session and another during the London session.

Why did I lean towards buys? I looked at the ADR of AU prior to the weekend and both entries closed below the ADR low. That was what I gleaned from the charts and the additional confluence I used to support my hypothesis.

Both entries despite valid would have been stop outs, but we take it on our chin and move on.
Attached Image (click to enlarge)
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  • #680
  • Feb 5, 2024 8:10am Feb 5, 2024 8:10am
Quoting Jewel1996
{quote} GBPJPY {image}
Nice call J.
Your trade order needs to be in the right place at the right time.
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