Strat's Long Term Stress Free Trading

This looks so much like USDJPY.

Looks like a fight between CAD and JPY as to who will get the biggest slice of USD.

As long as I get a piece of the action I don't care!

Swiss Maid - Del Shannon 1962

Let’s see if we can unravel the USDCHF mystery:

PRICE is currently holding 4 pips above my T9 target of 1.0270

Now, with my trusty MkI eyeball and abacus in hand:

Major support appears to be hiding somewhere in the 1.0223 to 1.0188 range.

My extended calculations give a T10 of 1.0240 and T11 of 1.0192

So, if 1.0270 is breached, then it looks like the confluence of major support and T11 around 1.0188 to 1.0192 is favourite.

But what the hell do I know?

“I know nothing” said Manuel to Basil!

Thanks for the detailed response, I believe my biggest mistake was putting too much weight on the fact that this was the second test of 150 in the past two weeks and that crappy bar sucked me in!!

As i start to make more profitable trades i'am realizing how much a bad trade that stops me out for a full bar loss affects my profits (I WAS up 6% this month untill i took this trade!)

Its all good though im still on demo and i have learned a lot in the past few months.

I haven't had any problems with pop-ups yet but i just downloaded Google Chrome and WOW what an improvement over Explorer.

At least 2-3 times faster!!

Hey Strat...

Thanks for all the charts. A picture is worth a thousand words. Love the colors too.

What's the deal with the targets? I haven't figured out your Target formula yet. How are you coming up with these numbers? ...and has it improved your trading?

Were all these trades open when you took the screenshot (pyramiding)?

If so, how do you manage your risk on them?

Do you have stops in so if there is a catastrophic event and price reverses, your profit isn't wiped out?

I can see why Lower time frames are peanuts compared to Daily. Quadruple digitis if my abacus is accurate and you pyramided.

thanks.
well I dont think its about ram , if so ,it will affect my IE also
till now thats the only defect of firefox, otherwise its far better than IE7,8.

hi strat ;
thx for your valiable extensive explanation.
about your comment on crudec trade of GC,it was well done by him(congrat).
my Q is, i know its easy to trade history, but if we are live at bar I lab. (x )on the chart, wouldnt it be logic to exit the trade at that bar(even temporarly and re enter again). or you have another inlight?

sorry.here is the chart

See chart

at the same candle!
or at next candle, to see what next PA will do.
may be strat have more than one option here.

No not in the same candle, we would only add to the position on the break of the BEEB that follows the re-test of the TL.

Targets are just part of my arsenal. I don't like using targets but I thought I would give them another try. I used them here to try and identify the bottom.

Oh yes and all closed now. As I said before I have very unorthodox MM that would be frowned upon by the trading fraternity - but it works for me. Re - read my posts where "Fat City" is mentioned.

We have reached a major level on this one.


See chart

Another major level!

agreed

yes we read about fat city before, but you did not mention your criteria

I thought I would go public with how I am getting on now I have started trading using PASR. I joined Strat’s Path back at the end of April. After a lot of reading – it takes time to assimilate all the stuff on this thread even when read twice (having been sent back to start again!) and looking at charts, I decided it was time to take the plunge and put on some trades using the minimum £/pip permitted by my SB account. Somehow it seems that using real money, however small an amount, brings a reality to trading because a gain is a REAL gain however small, and of course a loss is a REAL loss. Anyway that’s my feeling on it. Even with a tiny trade there is an edge of reality to it. I tend to be very cautious about trading as I am retired and don’t have a nice fat salary to fall back on if I have heavy losses. My aim is to get enough skill to make regular profits with the minimum of time required and this lead me to the Daily time frame. Researching possible trades for the week at the weekend and then giving those charts a look after close (10pm London time) each evening will enable me to enjoy my retirement and do the things I enjoy in London (of which there is a lot!). I'm a long way from that objective but I hope to improve. I spend a LOT of time checking to see how I’m doing and reading posts on this thread, but as I gain confidence I hope THAT time will reduce. I have found it easily becomes addictive……..’ummm will just have another look to see how things are going…..’ etc. etc. As everyone keeps saying here, there is an enormous amount to learn and although I spend a lot of time reading the posts and charts I never feel my time is wasted. I’d just like to get to the stage when I don’t spend quite so much time at it……..but…..it is VERY interesting!

I started putting on trades in late July, had a ‘relaxed’ August until towards the end of the month and continued until now but will give it a rest for a couple of weeks as I am off to Crete for a holiday – the first lazing in the sun holiday for many years..

In line with the policy of this thread I will not talk of pips or real money values but record percentages here.

So far I’ve made 13 completed trades and one is still open. My success rate is 8 gains and 5 losses. The total size of the gains outweigh the losses fortunately. My bet size is 0.005% of my account and I don’t go beyond a risk of 1% of my account size. When candles are short and the risk correspondingly small, I could increase the size of my bet but I prefer to keep to the 0.005% at the moment until I gain confidence in my PASR reading ability. I am making too many losing trades at the moment. By keeping careful records which include a screen shot of the chart, I aim to understand why those happened.

The result has been encouraging. Although the total amounts are small I have gained 2.774% of my account as a result of these trades. This would have been greater had my bet sizes been more ‘realistic’ but then wins can turn into losses very easily and I would rather have small gains than risk larger losses!

A major difficulty has proved to be exiting the trades. The temptation to keep one running beyond my notional target has often proved a mistake so I am trying to calculate a target and enter that at the same time as I place my ‘order to open’. The trade then becomes automatic. Is this good practice? I don’t know, but at the moment it makes me consider the R:R ratio and reject a trade which has a poor one. I’d rather secure a decent gain than risk ‘squeezing’ it for a bit more and risk losing all or part of my original profit. And I don’t want to have to watch the screen all day waiting for the ‘right’ moment. There are better things to do in life now I have the freedom from work.

It is very early days for me, but I am heartened by this small success and am determined NOT to become confident and blow it!

I couldn’t have done this without the many contributors to this thread and without Strat’s acerbic approach. I learn something from every chart posted and individual contributions often make me go back to my M4 charts for another look with different insight. Many of my successful trades have been the result of following up suggestions made by members of this thread and trying to see why they say what they do.

So a big thank you to all, especially Strat (of course), and when I have something else to say I’ll post again!

[quote=Lotuselanman;3073795]I thought I would go public with how I am getting on now I have started trading using PASR.



Lotuselanman,


Thats great to hear, the actual money is not important but the percentage gain is. The money will come in time. Congrats!

Pancho.