Strat's Long Term Stress Free Trading

Dan, no pips stated so no problem at all. Now that you are into planning, maybe you want to share your thought process on this trade and how and why you planned it. This will provide inspiration to others.

You learn more from your losses than your wins B-Man (in my opinion). Don't let it get you down. As Baba says, we do it all again next week!

Keep on keepin' on, we'll get there eventually!

Dan

Maybe you were paying too much attention to your new FF boyfriend and giving him too much crude!

LOL
Bad news Gianni ....

NOTE TO OTHERS:
Share your similar experiences and how YOU got over this so that Bloom knows there IS light at the end of his tunnel. Thank you.[/quote]


If i started on my stories of woe and hardship in my quest you would cry me a deluge only Noah himself would survive.......trust me.....




miss u Nic x

see we even post together..........getting the new demo up tomzx

Here is a taster........


I dont know 2 years ago im long eur/cad for some reason or another.Ive put my order in as a good boy does at "bar close" its a daily ib with a weekly i think anyway good strong signal.The next day....nothing....its thurs and she does a doji or some similar bar and i wait.....fri it breaks the ib short, im long remember so fine
.She then turns around and violently rushes towards my entry, i start to sweat.
She takes me in....and stalls....... going negative now and i notice my knees start to rise and i begin hugging them, I move to "white hot".

Slowly she comes back to my entry price and then i start rockin......not good.

As price gets closer to home so does my rocking and by the time im even....well its wasnt nice.


At even i leap out of my chair down to my knees(hard) infront on my lappy and hit instant exe.........its over.....relax...breathe.


she did 300 pips..............THE END............A Baba G Production.

What was my problem where was the gap in my plan...come on guess?

Too much % of account on the trade? No planned exit?

YES

BOTH....yes both.

So along side my 100% accurate "butt ring" indi i also have the "knee hugg".A bit like your M.As.....nice

I have enjoyed an engagement of both of these remarkable tools at the same time which is another story..........and i dont want to talk about it OK


i would just like a little ice thats all......

I hope everyone is taking note of this and UNDERSTANDING

Here is Baba G, a Professional trader and Money Manager who can read price action like a book, going on DEMO first on a new instrument.

Even though price action is true for all instruments, you have to learn to play the instrument first.

Each financial instrument has its own peculiarities, characteristics, personality and idiosyncrasy - we must learn these first so that we can get a "feel" for how she behaves in a given situation.

When we feel we can dance with her without stepping on her toes, only then can we think we have a chance with her.

Crude really is THE black bitch though. She is wild, violent with absolutely no respect for anyone. She will show you her calm side and then when she thinks you are well and truly suckered in, will turn on you when you least expect it and drain you dry. She takes no prisoners and doesn't care much for people who mess with her. She has had her way with me a few times and it wasn't fun!

And as all indicators are open to refinement i have developed one for the "butt ring"......the "rectum scale" which works as follows;

The higher the tension the bigger the reading on the scale and the larger the "huston".......simple.

DEMO is our friend....its our life...it never ends.

I must say im a little tense.Expiry dates.....inventories...cross currency exposure.......alot.Thats before a bloody bar!

Na....slowy slowy stalk the GORILLA !

Someone wrote, a few posts back, that they were positioning themselves for the next big move on EURGBP.

Would they care to explain? I have a good idea on the next moves but next big move?

Hi all,
As I’m now developing a plan for EACH trade I take, Strat asked if would post how i approached the Shooting Star on USDCAD from last night (01.04.09).

I have outlined this below BUT PLEASE NOTE this is NOT A ‘STRAT’ trade and is not what he is trying to teach you/me/everybody (Blues Brothers?) on this thread. I have explained my approach to this trade to Strat and he had given me permission to post it.

So, as most of you know, we had a shooting star form at NY close on USDCAD last night. According to my S/R levels, the shadow/wick pierced a minor (my interpretation) S/R level of 1.2650 and then closed beneath it. It was also at a swing high. Other than that, I thought price was in no man’s land, on the day of the G20, and ABOVE the DAILY 20EMA – not ideal situations for entering a short.

With the above RISKS in mind, I opened the 4 HOUR chart to plot the trade using these resistance levels (I’m sorry but I didn’t take a screengrab of the 4 Hour Chart – however i have marked the relevant levels on the chart as of now 21.30 GMT)



This gave me the following trade levels:

Entry: 1.2570 (just below the low of the shooting star)
Stop: 1.2675 (Around the high of the 4pm GMT 4H candle – NOT THE HIGH OF THE CANDLE – I chose this level because if price retraced to this level, my trade was WRONG, and there was no need to risk more than was necessary)

TP1: 1.2500
TP2: 1.2461
TP3: 1.2383

Each of these TP levels represents previous S/R on the 4 Hour chart.
I traded 3 lots and planned to move my STOP to BE when TP1 was achieved, giving me two free trades.

I hope this is useful to some people.

Thanks

Dan

Hi Strat, i posted a chart saying i thought EURGBP was at an important level. I have no idea which way it will go, but i think it's lined up to move with some momemtum away from 0.9150.

I have a bias opinion for south, but this based on nothing but instinct, which i know you'll tell me has no place here!

Thanks
Dan

I don't know about a huge move Strat, but New York just closed and the last bar on EUR/GBP looks like a long shadow. Nothing too special, and in the middle of nowhere as far as I'm concerned. The next moves should be in continuation with the current downswing. Thats all.

snap