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Strat's Long Term Stress Free Trading

  • #1,161
  • Mar 25, 2009 2:49am Mar 25, 2009 2:49am
choo choo?
  • #1,162
  • Mar 25, 2009 2:52am Mar 25, 2009 2:52am
Quoting Baba G
choo choo?
We are just waiting for the folks to get their tickets for the ride ...
  • #1,163
  • Mar 25, 2009 3:17am Mar 25, 2009 3:17am
So if i was long any of this shizzer id be doing something to lock in or T/P.

The pins didnt close just as i like them.So i wont be placing short orders.

Im still waiting for a bar...like i said a perfect bar..its worth the wait......g
  • #1,164
  • Mar 25, 2009 3:27am Mar 25, 2009 3:27am
Quoting elitejets
We are just waiting for the folks to get their tickets for the ride ...
I loved your story yesterday,i sat hugging my knees as you discribed the pain ahahahahahahahh.

Lets us through united endevour banish forever the beast of the knee hug.And under the banner of the great rock n roller himself build a perfect land.
  • #1,165
  • Mar 25, 2009 3:37am Mar 25, 2009 3:37am
where are the dancing girls?
  • #1,166
  • Mar 25, 2009 3:49am Mar 25, 2009 3:49am
where are the dancing girls?
When trading the Daily, you enter your stop/limit orders, get filled enter your SL and forget it until the next day. Forget about watching the candles move up and down. We are only interested in where it closes.

Oh god......stupid id as stupid does

i just had a grail moment....its a long story....trust me

right sorted just a change in risk allocation will do it,can any of you guess(do you care) whats happened to me before my eyes...aahhahahah
  • #1,167
  • Mar 25, 2009 5:15am Mar 25, 2009 5:15am
Hi all,

English is not my mother tongue. Though it's hard for me to follow all the "lingo" i will try my very best to walk and talk here. It took me few hours to figure out "butt ring" means. LOL.

Strat, my view on EURJPY is daily shooting star which also hit the major Resistance level and expected some pullback whilst it is still it uptrend. will keep my eye on daily bars ahead to follow back the main trend. waiting at 128.00 support level for any Price action.

followed this thread for quite sometime now till today dare to talk here.


cheers,.
  • #1,168
  • Mar 25, 2009 5:47am Mar 25, 2009 5:47am
Learning to trade is a path with many stairs and corners.The biggest huddle is the mind games.

As you start to feel your way in the dark little lights come on till one day you see.

The system ive got has taken 3 years to develop.

The account size has slowly changed my trades without me knowing!!!!!

I didnt realize till i read Strats post.

Now the beautiful thing is with a slight change in risk allocation i can run both my systems(i got 2 systems yeyeyhahah).
2% risk on baba G trades
1% Classic daily.


THIS IS WHY IM HERE...JOB DONE

oh god its gonna be great.......

And the knight kneeled before his noble companion and saith"ye great and perfect brother,i was blind and you brought the light i was parched and alone in younder wilderness perfectly errant and you heralded the rain to quench my scolded heart........g
  • #1,169
  • Mar 25, 2009 6:16am Mar 25, 2009 6:16am
Quoting Dennis330A
Hi Strat,

My name is Dennis and i'm trading the forex for 1,5 years now. I found this forum with an webad and i'm so happy that i finally found the discussion-board that i was looking for !!

Your thread the famous Strat's Long Term Stress Free Trading inspired me to continue trading the forex. There is so much information on the internet..... Finally some hounest and good information !

Please keep on going the way your are doing this !

Many thanks !

Dennis from the Netherlands...
Thank you, Dennis, we will do our best to keep you educated and entertained
15 YEARS OF PASR ON FOREX FACTORY!
  • #1,170
  • Mar 25, 2009 6:19am Mar 25, 2009 6:19am
Quoting elitejets
We are just waiting for the folks to get their tickets for the ride ...
Ticket to Ride - the lads from the "Pool except there's only 2 left now. One dyes his hair many colours while the other is still learning to play the drums
15 YEARS OF PASR ON FOREX FACTORY!
  • #1,171
  • Mar 25, 2009 6:23am Mar 25, 2009 6:23am
Quoting Baba G
where are the dancing girls?
We only have 2 so far, Nicola and Nicole

It's your job to recruit them - get on with it
15 YEARS OF PASR ON FOREX FACTORY!
  • #1,172
  • Mar 25, 2009 6:29am Mar 25, 2009 6:29am
Nicola? Nicole?.........Papa?
  • #1,173
  • Mar 25, 2009 6:34am Mar 25, 2009 6:34am
Quoting riff
Hi all,

English is not my mother tongue. Though it's hard for me to follow all the "lingo" i will try my very best to walk and talk here. It took me few hours to figure out "butt ring" means. LOL.

Strat, my view on EURJPY is daily shooting star which also hit the major Resistance level and expected some pullback whilst it is still it uptrend. will keep my eye on daily bars ahead to follow back the main trend. waiting at 128.00 support level for any Price action.

followed this thread for quite sometime now till today dare to talk here....
Riff, thanks for posting. Never be afraid to post when you want to contribute. I struggle with the lingo too - especially with our resident pizza man - O Sole Mio!

Support is earlier than 128.00 - it's at 130.50 and so far the London sellers have been repelled by it. Let's see if it holds during NY because if it does I'm going to buy some more!
15 YEARS OF PASR ON FOREX FACTORY!
  • #1,174
  • Edited 6:50am Mar 25, 2009 6:36am | Edited 6:50am
"'i just had a grail moment"'
Let me guess, you looked in the mirror and got the shock of your life!
15 YEARS OF PASR ON FOREX FACTORY!
  • #1,175
  • Edited 7:36am Mar 25, 2009 7:11am | Edited 7:36am
On Post # 1096, Lance posted about being "right". This hit the old Memory Recall button as I remember being told about "being right or being profitable" a long time ago by an ex - broker turned professional trader. So this evening, I searched my stuff and eventually found it. It was originally a fax. I have formatted it slightly for emphasis.

I just wish I could remember all this stuff!

""Long, long ago, when the world was young and I was a broker, I had to
find trades for clients. I found a great many good trades, yet I
noticed that people would find reasons to get out of them. So I
started asking people when I had a good trade for them, if they would
rather I was right, or whether they would prefer to make money.

Yup, you read that right. And I acquired something of a reputation for
eccentricity. But I have often seen that choice presented to traders
in the subsequent 20 years.

Are you going to trade based on your opinion, interpretations, indicators, or are you going to make money?

The fact is, most traders have so many transactions, they can't keep
track of what they think, much less what their trading plan is.
There's too much pointless activity, and you have to cut down on that
type of time wasting.

But when you do that, and you start defining a trading plan and what you are doing, you're going to find two things:

Number one is that frequently, regardless of your trading method, you are going to have a loss on a specific transaction. And as we all know, you get right out of those trades.
No thinking required, no excuses...right?

Number two is that when you are finally right, you will start thinking you are on a hot streak, cracked the code, can do no wrong....basically, you'll
think you're the greatest thing since walking upright became popular.
There's just one problem. You'll start thinking.

When you have a loss, it makes sense to cut the loss. If you have
acquired any maturity as a trader, then the concept of NEXT kicks in.
Small loss, part of the game, yadda yadda, next trade.


But when you have a profit, there isn't a next right away. You
literally have to make a new decision every time you look at that
trade. Stay in or get out? And the reasons for getting out will
accumulate. You'll keep checking new indicators. You'll talk to people without a position in that market. You will literally keep searching until you have found a reason to get out of that profitable position.


But here's the thing...you never control anything in a market except
your orders. Do you really want to follow a trading plan that relies on you being right?

Saying a trend is going to end and getting out of a
profitable trade is fully as dangerous as saying a trend is going to
start and you'll stay in a losing position until it does...and make
back all your losses with interest or whatever.

Because without large profitable trades, eventually even small losses will break you.

This is what amateurs do. They think about being right. They dream
about it. Professionals think about risk. They dream of new and better
ways to calculate stops, get a higher percentage of profitable trades,
anything that helps to make up for being wrong.

I know of millionaires that will only trade mini contracts. They know how easy it is to be wrong. They know they *will* be wrong. They *count* on being wrong!
But they also try to find ways to make money in spite of being wrong.

A trading plan is *not* about what you think. It's about what will
trigger you into a trade, (selection), how you will avoid losing money,
(cutting losses), and MOST importantly of all, the whole point, the
reason you trade, letting your profits run.

Once you have a trading plan, none of these steps should require further thinking. If they do, you need a new plan. And if you know you need a new one, why trade with the old one?

As you pointed out, staying in a bond or note trade late last
year could have made up for two years of treading water for you. This
is why you undertake risky trading activity. This is what the effort
is for. Not high percentages. Not smaller losses. Huge, profitable,
trades. But you have to let your profits run to get them.

Whew. I'm getting carpal tunnel syndrome.""

There's no substitute for experience.
15 YEARS OF PASR ON FOREX FACTORY!
  • #1,176
  • Mar 25, 2009 7:20am Mar 25, 2009 7:20am
Quoting strat
On Post # 1096, Lance posted about being "right". This hit the old Memory Recall button as I remember being told about "being right or being profitable" a long time ago by an ex - broker turned professional trader. So this evening, I searched my stuff and evebtually found it. It was originally a fax. I have formatted it slightly for emphasis.

I just wish I could remember all this stuff!

...

I'm sure i don't need to ask but Lance, please add this to the index - this is why i think this thread is so good - no entry signals or free ride, but plenty of EXPERIENCE and COMMON SENSE.
  • #1,177
  • Mar 25, 2009 7:22am Mar 25, 2009 7:22am
Hi guys there seems to be a lot of experience in this thread keep up the good info got a question i see a inside bar on the euro daily what you guys think of that bearish you think

Thanks
Trade less make more!
  • #1,178
  • Mar 25, 2009 7:28am Mar 25, 2009 7:28am
Quoting Baba G
where are the dancing girls?
When trading the Daily, you enter your stop/limit orders, get filled enter your SL and forget it until the next day. Forget about watching the candles move up and down. We are only interested in where it closes.

Oh god......stupid id as stupid does

i just had a grail moment....its a long story....trust me

right sorted just a change in risk allocation will do it,can any of you guess(do you care) whats happened to me before my eyes...aahhahahah
Was it get filled first THEN enter your SL?
15 YEARS OF PASR ON FOREX FACTORY!
  • #1,179
  • Mar 25, 2009 7:43am Mar 25, 2009 7:43am
Quoting doughnut
Hi guys there seems to be a lot of experience in this thread keep up the good info got a question i see a inside bar on the euro daily what you guys think of that bearish you think

Thanks
Which "euro" - EURUSD or EURJPY or EURGBP or EURCHF or EURAUD?

Why would any IB be bearish?
15 YEARS OF PASR ON FOREX FACTORY!
  • #1,180
  • Mar 25, 2009 7:48am Mar 25, 2009 7:48am
eur usd it looks to me like inside bar

Thanks
Trade less make more!
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