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Trading TheStrat / Rob Smith's Method

  • #141
  • Mar 21, 2024 4:22pm Mar 21, 2024 4:22pm
Quickest trends change into another trend change ever; technical analysis all out the window when fundamentals don't even know what is going on, look at a professional trader's comment.

The Strat uses the least amount of profit target of any method, and it doesn't really give a clear directional most days, my opinion anyway.

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It takes a lot for me to IGNORE you, but you can try.
  • #142
  • Mar 21, 2024 10:31pm Mar 21, 2024 10:31pm
Erebus said :
'The Strat uses the least amount of profit target of any method, and it doesn't really give a clear directional most days, my opinion anyway.''

An interesting observation that can depend on the pair.
Maybe check out the ATR for certain pairs and specific time frames and try the highest ATR.

Or move up a time frame from your 'usual' .
I am going to give that a trial run.
  • #143
  • Mar 27, 2024 8:36pm Mar 27, 2024 8:36pm
Nothing much happening with these pairs for quite awhile. Oh, please excuse the duplication .. that is how it downloaded
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  • #144
  • Apr 28, 2024 12:43pm Apr 28, 2024 12:43pm
A month and a day since my last post and any post here.
Way too much happened mostly not trading related... took my focus away from the charts and trading.
Anyway,
Finding #TheStrat method useful as an entry and confirmation tool. Not so much as a method for me in Forex.
Disappointing to see that Strat traders' newer/recent videos focus on many different instruments/markets but not FX.
Maybe this method is better suited to stocks, indicies , other markets.
Maybe the HTFs in FX are better for this as I mentioned in an earlier post. But as I said, the last month has had too much going on .
  • #145
  • May 15, 2024 10:29am May 15, 2024 10:29am
Actually if you look at the posts I have been putting on Strat's thread, you will see the combination of Strat and Rob Smith processes.

Regards
Terry
  • #146
  • May 15, 2024 7:10pm May 15, 2024 7:10pm
PMG
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  • #147
  • Edited 10:02pm May 15, 2024 9:25pm | Edited 10:02pm
Quoting TerryDawe
PMG {image}
PMG on the up move.. Price Machine Gun

Down move:
Could be heading for 112.60 or even lower to 111.70 for a TTO (Triangle They Out )
Go to YouTube The Strat TTO
  • #148
  • May 27, 2024 7:56am May 27, 2024 7:56am
Quoting TerryDawe
PMG {image}
Well, that last daily candle closed as a strong hammer and weekly 3 1 2 moving to the upside
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  • #149
  • Jul 4, 2024 6:37pm Jul 4, 2024 6:37pm
Quoting Lou
{quote} PMG on the up move.. Price Machine Gun Down move: Could be heading for 112.60 or even lower to 111.70 for a TTO (Triangle They Out ) Go to YouTube The Strat TTO
Hey Lou, thanks for sharing this. I think I got the other thread confused because the users name is Strat?

How is the Strat method working out for you on forex? For me it appears to a relatively simple way to remove me from the equation. I have been victim of myself over the past x years trying to become a profitable trader and have been prone to strategy jumping, but the Strat feels like it should give an edge by allowing me to focus on psychology.

Currently paper trading but doing so via the first round of a prop firm, which is for me, a cheap way to add some stakes to paper trading, which I think can too easily feel "not real".

Would love to hear your experiences.
  • #150
  • Jul 4, 2024 8:34pm Jul 4, 2024 8:34pm
Quoting TimothyWarne
{quote} Hey Lou, thanks for sharing this. I think I got the other thread confused because the users name is Strat? How is the Strat method working out for you on forex? For me it appears to a relatively simple way to remove me from the equation. I have been victim of myself over the past x years trying to become a profitable trader and have been prone to strategy jumping, but the Strat feels like it should give an edge by allowing me to focus on psychology. Currently paper trading but doing so via the first round of a prop firm, which is for me,...
I will send you a private message first
  • #151
  • Jul 7, 2024 8:46pm Jul 7, 2024 8:46pm
Bullish 2 2 Reversal on the 4hr chart.

Has created a Bullish 2 2 Continuation on the Daily and the Weekly.

Monthly Green also.
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  • #152
  • Jul 8, 2024 4:05pm Jul 8, 2024 4:05pm
Quoting TimothyWarne
Bullish 2 2 Reversal on the 4hr chart. Has created a Bullish 2 2 Continuation on the Daily and the Weekly. Monthly Green also. {image}
Sold at a loss before SL.

Would anything have kept anyone out of this trade.
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  • #153
  • Jul 8, 2024 7:30pm Jul 8, 2024 7:30pm
Quoting TimothyWarne
{quote} Sold at a loss before SL. Would anything have kept anyone out of this trade. {image}
Hey Timothy could you describe your thinking and moves in this chart ?
  • #154
  • Jul 8, 2024 8:31pm Jul 8, 2024 8:31pm
Quoting Lou
{quote} Hey Timothy could you describe your thinking and moves in this chart ?
Absolutely will do my best. Posting the original for simplicty.

So I have marked the daily weekly and monthly highs/lows on the chart. I put my entry just beyond the Daily/Weekly high, as a this would have resulted in a bullish 2 candle forming on the daily and weekly time frame.

Was looking for a 2 2 Bullish reversal on the 4hr chart. Didn't stick to a 1:1 RR ratio as it didn't make sense according to the below entry instructions. For that matter I am finding it difficult to find any 1:1 RR ratios in the Strat.

Hope thats clear
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  • #155
  • Jul 8, 2024 9:21pm Jul 8, 2024 9:21pm
Quoting TimothyWarne
{quote} Absolutely will do my best. Posting the original for simplicty. So I have marked the daily weekly and monthly highs/lows on the chart. I put my entry just beyond the Daily/Weekly high, as a this would have resulted in a bullish 2 candle forming on the daily and weekly time frame. Was looking for a 2 2 Bullish reversal on the 4hr chart. Didn't stick to a 1:1 RR ratio as it didn't make sense according to the below entry instructions. For that matter I am finding it difficult to find any 1:1 RR ratios in the Strat. Hope thats clear {image}...
The R:R ratio in forex for The Strat has been criticized . When you view the videos of the method on this site you will notice they focus on stocks, and the candles appear to give a better R:R ratio. My suggestion was to try higher time frames and pairs with higher average true ranges.
Note that Terry Dawe does a nice job with the higher time frames.
Since the entry method in The Strat is mechanical and based on price action, that has a lot going for it. When using prior candles for TP points you can alternatively use them as check points. Places to decide to TP or continue or add on (while moving the SL toward break even or locking in profit).
I sent you private messages as well.
  • #156
  • Jul 8, 2024 9:36pm Jul 8, 2024 9:36pm
For clarity sake on the above trade. Treating the wicks as full candles.
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  • #157
  • Jul 8, 2024 10:14pm Jul 8, 2024 10:14pm
Quoting TimothyWarne
For clarity sake on the above trade. Treating the wicks as full candles. {image}
Note that you were buying at a triple top formation . A time to wait. It often signals an upcoming reversal. Definition :

  1. A triple top is formed by three peaks moving into the same area, with pullbacks in between. Wicks in this case.
  2. A triple top is considered complete, indicating a further price slide, once the price moves below pattern support.
  3. A trader exits longs or enters shorts when the triple top completes.
  4. If trading the pattern, a stop loss can be placed above resistance (peaks).

Be aware of triple and double tops.

  • #158
  • Jul 9, 2024 6:00am Jul 9, 2024 6:00am
Quoting TimothyWarne
For clarity sake on the above trade. Treating the wicks as full candles. {image}
Also noted , if the insert shows the pattern you were using to place the trade, I don't see that pattern at the entry point.
  • #159
  • Jul 16, 2024 11:35am Jul 16, 2024 11:35am
Quoting bitgiggy
{quote} Would love to see some more trade examples! I am very interested in how you manage targets. Many of the YouTube videos I have watched talk about usung previous candles high/low as the first target which is often very close to the entry price. From a risk reward perspective I would be very interested to see how you manage that
You manage it by simply not taking the signal if it doesn't produce the R?R you seek.
  • #160
  • Jul 16, 2024 11:39am Jul 16, 2024 11:39am
Quoting sonicvista12
He did favour equities and indicies, but from my research I believe it works well in forex also. Cheers MantisClaw
TheStrat works on anything that's tradable.
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