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Strat's Long Term Stress Free Trading

  • #9,901
  • Feb 7, 2010 6:24am Feb 7, 2010 6:24am
Quoting strat
About AlbertTater .......

Seriously, this has got to be a joke. No one can be this clueless.

This one's a keeper though!

I don’t ever set stop loss orders due to the fact that my system is so accurate and effective however I had a trade give me a margin call before it had a chance to turn around and hit my profit mark. I then entered another trade to attempt to re-coup the losses and I received another margin call when price did a little retracement. Well that’s $5000 out the window. Live and learn is my motto these days, especially with trading.

It’s almost like the market is out to get me. My trade entries were 100% accurate as well as my trading system. I will be looking into FXCM to make sure they are not trying to pull the wool over my eyes and cheat me out of my money.

The best part is where he writes on the chart "Price should have ROSE UP" as if the price and the market didn't follow his indicators like they were supposed to. :nerd:
-Razorjack
  • #9,902
  • Feb 7, 2010 6:35am Feb 7, 2010 6:35am
Quoting Razorjack
Seriously, this has got to be a joke. No one can be this clueless.

This one's a keeper though!

[i][color=Blue]I don’t ever set stop loss orders due to the fact that my system is so accurate and effective however I had a trade give me a margin call before it had a chance to turn around and hit my profit mark. I then entered another trade to attempt to re-coup the losses and I received another margin call when price did a little retracement. Well that’s $5000 out the window. Live and learn is my motto these days, especially with trading.

It’s...
The best part is where he writes on the chart "Price should have ROSE UP" as if the price and the market didn't follow his indicators like they were supposed to.

But when I didn't know any better and was stuck in Indicator Land, that's exactly how I thought!
15 YEARS OF PASR ON FOREX FACTORY!
  • #9,903
  • Edited 11:05am Feb 7, 2010 8:50am | Edited 11:05am
Quoting strat
So it's time to 'fess up' that January was a disaster for me, 16 trades but only two were winners. The previous three months were definitely in the black (or blue), but January!!!!!!!!!!!!!

Oh dear, Christopher. This is more what I would expect from one of our rampant studs!
Ummm..... Hey Whoa there not so fast Mr Stratocaster.......I'll ask my three lady friends about that one! "There are more things in heaven and earth [and old people's homes] Mr Yorkshireman, than are dreamt of in your philosopy" LOL

Quoting strat
All is not lost – you know the error of your ways, you are still positive and the method still works....
Yep, exactly! I gave up control. Even as I put on some of the trades I knew at the back of my head that they were 'dodgy'! So why did I do them???

Quoting strat
Forget wanting more meat – your top priority is only taking OPPORTUNITIES in BASIC PASR. NOTHING MORE.

When an opportunity presents itself, the “meat” will be what it is – no more, no less – there is NOTHING you can do in a low risk stress free way to make the meat more.

If you don’t SEE the opportunity, it is NOT there and therefore NOT a trade for you.
Agreed.

Quoting strat
Do NOT be distracted what others do, or don’t do on this thread or the trading club you are in. They are not responsible or accountable for your trading and your account.

Do not worry about missing trades or not seeing trades that others see – when you are ready, you, too, will see them.

Do NOT do the “IF ONLY” scenario EVER – ALWAYS and ONLY focus on the NOW and what is in front of you.
Agreed.

Quoting strat
I’m sorry this is all DON’TS but it is what you need right now.

If you need help with “The Little People” you know what to do.
Well, since it was the DOs that were causing the problems, the DON'Ts are the way to go at the moment!

Quoting jideck
I also read and re-read Strat's posts over and over, look at the trades he did and posted - I find that this helps me tremendously.
Yes, I've been rereading the thread and have understood so much more the second time around - a different level of understanding.

Quoting jideck
I do not want to sound like I do know too much, make no mistake I will be always learning, making mistakes, learning more here but I want you to know that you made this far and you want to be successful here, you will do right.

Happy tradinghttp://cdn.forexfactory.com/images/icons/icon14.gif
Jideck
Thanks Jideck for your encouragement!

Good chart reading and good luck to you.

Fortunately the account is still sound, just back to where it started. It's a shame but my own fault, so 'onwards and upwards!'

Christopher
  • #9,904
  • Feb 7, 2010 11:41am Feb 7, 2010 11:41am
Quoting strat
About AlbertTater...
Ok Strat.... did you make this guy up ? !!! Did you put him on FFF ??
  • #9,905
  • Feb 7, 2010 1:40pm Feb 7, 2010 1:40pm
Quoting strat
An observation of a lie. Or is it True?...
I just read this post several times. As a rookie, I feel this advice is the reason most of us fail. We try to anticipate moves to get those high risk pips, while the traders that make money are patient and disciplined.

Great post.
  • #9,906
  • Feb 7, 2010 2:09pm Feb 7, 2010 2:09pm
Quoting Lou
Ok Strat.... did you make this guy up ? !!! Did you put him on FFF ??
You read my mind ... LOL
Very clever whoever created him though. Kudos
  • #9,907
  • Feb 7, 2010 2:11pm Feb 7, 2010 2:11pm
Quoting 30XTCi
An observation of a lie. Or is it True?

Roy

For those of us in the trade short on this pair I will move my Sl to just above the hammer so locking in my profit. If it is not lying and my SL is hit I will accept the profit and wait for the next opporchancity. OR...if its a lie I will continue to profit...

N
  • #9,908
  • Feb 7, 2010 2:18pm Feb 7, 2010 2:18pm
[quote]

my system is so accurate and effective.....!!!!!!!

I am thinking of writing my own book on FOREX trading and my methods


who's first in the queue for a signed copy then
  • #9,909
  • Feb 7, 2010 3:18pm Feb 7, 2010 3:18pm
Quoting strat
#5

And read his Profile!
Hi Strathttp://cdn.forexfactory.com/images/icons/icon10.gif

This is a joke! I think someone is trying hard to fool us all.LOLhttp://cdn.forexfactory.com/images/icons/icon13.gif

Happy tradinghttp://cdn.forexfactory.com/images/icons/icon3.gif
Jideck
  • #9,910
  • Feb 7, 2010 6:28pm Feb 7, 2010 6:28pm
Master Tater....

Mister Rogers gone bad?
  • #9,911
  • Feb 7, 2010 10:46pm Feb 7, 2010 10:46pm
Quoting Lou
Ok Strat.... did you make this guy up ? !!! Did you put him on FFF ??
No way! It was suggested to me that I should offer to help him!
15 YEARS OF PASR ON FOREX FACTORY!
  • #9,912
  • Feb 7, 2010 11:45pm Feb 7, 2010 11:45pm
Quoting strat
No way! It was suggested to me that I should offer to help him!
Now that would be THE challenge. Better than any ' reality ' tv.

On the other hand maybe it is a J16er messing with you.
  • #9,913
  • Feb 8, 2010 1:42am Feb 8, 2010 1:42am
  •  Sid
  • | Joined May 2009 | Status: Get wise or die laughing | 85 Posts
seems like after the most recent upgrade ig index isn't printing sunday bars anymore... i'll miss 'em RIP
  • #9,914
  • Feb 8, 2010 4:25am Feb 8, 2010 4:25am
Still here, that is, in and out as I said it would be. Maybe I'll manage to get broadband in the finca next week and be more here. Missing it.

Yet, i must say this thread is red hot!! In all the years (forums, threads, classes, etc) I've been at it I have never seen a forum like this!!

And it is not just the PASR stuff, it is also the attitude of the people, the willingness to show vulnerability and risk posting. Bad posts teach as much as good ones imho, they just tell me what not to do, they remind me of things

It is the general mood and the thought of stress free trading that inspires me most. I remember when I first saw the title "Strat's LOng Term Stress Free Trading" thinking:" Well that's a crazy thought,of course nobody can trade stress free!".

Yet it stuck and got me in.

Wanting to reread, just waiting for broadband.

Spinner
Spinner 'Tis in the Waiting.....
  • #9,915
  • Feb 8, 2010 7:05am Feb 8, 2010 7:05am
This hammer is worth a good 15 points. However, if you want the best of both worlds, minimum risk and max points , you could wait for a 30% to 50% retrace of the hammer itself before going long but be prepared to possibly miss the move altogether.

They just don't get any more attractive than this.
Attached Image (click to enlarge)
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  • #9,916
  • Feb 8, 2010 7:17am Feb 8, 2010 7:17am
Quoting mstandifer
This hammer is worth a good 15 points. However, if you want the best of both worlds, minimum risk and max points , you could wait for a 30% to 50% retrace of the hammer itself before going long but be prepared to possibly miss the move altogether.

They just don't get any more attractive than this.
For the record I hold a long position at the close on Friday. While nothing is certain (and certainly not with the US stock market). This particular setup is worth the risk to me. SL .5 points below the low of the hammer, TP at 1084 (1 point less than the 1085 which sits on DSRI).

-m
Attached Image (click to enlarge)
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  • #9,917
  • Feb 8, 2010 7:44am Feb 8, 2010 7:44am
I had a moment of clarity over the weekend and thought I'd share it for anyone struggling at the start of their journey (like me):

In my opinon the thing that kills traders' accounts more than anything is uncertainty. There is enough uncertainty in price movement, without us adding any more, so hence the reason (I think) that Strat always stresses the importance of your PLAN.

This sounds simple enough - have an entry strategy, a stop loss strategy, a take profits strategy etc put it all together and you have a PLAN. But ask yourself really - does your plan tell you what to do in every eventuality? I reviewed my plan and realised that mine didn't!

So what I decided to do this past weekend was to put together a series of rules for myself which took away all uncertainty of what to do for every single candle when I'm in a trade (as well as when I'm looking for the next setup). So no matter what the next candle does (up down or sideways) I have written a rule to deal with that.

I'm not going to tell you what your rules should be (I'm a rookie myself so it's not my place) but for me this has been a big step on my path to stress free trading, and I highly recommend that you review your plan in this way to eliminate uncertainty.

Hope this helps some beginners...
When in doubt, sit on your hands...
  • #9,918
  • Feb 8, 2010 7:53am Feb 8, 2010 7:53am
...added to my collection.

-m


Quoting strat
An observation of a lie. Or is it True?...
  • #9,919
  • Feb 8, 2010 8:07am Feb 8, 2010 8:07am
Quoting mstandifer
For the record I hold a long position at the close on Friday. While nothing is certain (and certainly not with the US stock market). This particular setup is worth the risk to me. SL .5 points below the low of the hammer, TP at 1084 (1 point less than the 1085 which sits on DSRI).

-m
The majority of the S&P's move takes place during the first 2 hours of the day or during the last 45 minutes of the day...usually.

Blackeagle can comment more on that perhaps.

The way I play the S&P is a bit different than we do here but that's because I've traded it in my IRA for several years and this is just what has worked for me. If price hasn't moved up at least 5 points by 11:30 am, I'll take my profit at that point and call it good. I don't play the move at the end of the day.

If price moves at least 5 points and holds it without forming a price reversal bar, I'll continue the position to the next day. Rinse and repeat until target is hit moving SL to BE at day 2.

So while my plan might appear flexible, it isn't. I have specific criteria for getting in and getting out. The part that appears flexible is because of the unique characteristics of the S&P and how the 2 of us have agreed I should trade it.

-m
  • #9,920
  • Feb 8, 2010 8:15am Feb 8, 2010 8:15am
Also, it is important to note that you can't trade the E-mini in your IRA because you can end up with negative equity. I used the E-mini term because everyone has heard of it. I actually trade Proshares ultra ETFs for my IRA.

SSO for double long S&P500
SDS for double short S&P500

-m
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