Strat's Long Term Stress Free Trading

Greetings,

I have some questions concerning placement and adjustment of DSRI lines.

1) Should DSRI lines be drawn on the Big Boss chart first?

2) If so, should the lines be adjusted and fine tuned after switching to the Boss chart; as is the practice when placing static SR lines?

In my experience, after switching from Big Boss to Boss, the lines are not correctly placed on the Boss chart, often being way out of correct alignment.

3) After then switching to the worker chart, are other adjustments made to fine tune the placement of the DSRI lines from the Big Boss and Boss charts?

Thanks,
Roger

Roger, ignore DSRI at this stage and instead focus on accurate TL placement.

We will get into DSRI in advanced strategies.

" Strat You are naughty BUT Nice ".....these are PINs of a Ressistance turned support area...and TONY ( BONES ) has seen this as such as well ...and i agree

http://www.forexfactory.com/showpost...ostcount=10330

baz

Dear Dr Strat,
Three hanging men indeed,
if I may add.. three hanging men enforced by resistance of 50% ret on Boss

I was just thinking about that what did Strat say something about all the JPY pairs sometime ago? humm things happen more often than you think.

It amazes me that Strat can post a synopsis of the entire threory and yet be met with a series of subsequent posts insiting on various reasons for trades contradicted by weekly and monthly patterns. God help you all.

http://i39.tinypic.com/nxomt5.gif

Traded first resistance to first support, then on to second support. Hammer is telling the tale. "Should I stay or should I go" The Clash. I really like the way that some of you veterans are posting small charts with the ability to enlarge to full size. I haven't figure out how you all are doing that yet. Are any lessons available? Thank you all.

For the JPY pairs post, I think he is talking about one of his tricks on ATM trades when all JPY pairs meet his condition. I may be wrong no surprise there.

Hi All,

Update on my little usdjpy trade:

As planned the last position was moved to BE and now is moved to the new HL(assuming because it is real time and want to lock in profit). Adding on a trade with a small portion of gain on the break of today candle because it bounced off minor resistance and 20.

Hi Alexandrahttp://cdn.forexfactory.com/images/icons/icon7.gif

I guess this is where the "hammer meets the rock". For some it takes time to put things into right places. Patience on our part to filter them out.

Happpy tradinghttp://cdn.forexfactory.com/images/icons/icon14.gif
Jideck

Hello Strat & Team ,

Since I have been registered on The Path by Marcus I thought I'd share something about me and my "trading career" so you know whose posts you're reading (I am almost finished with reading the thread and I plan on posting a lot of questions ).

My first name is Costin, I am from Romania (hello Soso and hcristea). I am 27 years old, married, one daughter who is 1 year and 4 months old.

I first started being interested in Forex in the summer of 2008 when a friend told me he has found the road to riches.. Stochastic and RSI, add some MACD.. Why? don't know.. read it on a thread somewhere.. and so I was on my way to making a million dollars (you know.. 1%/day, compounded.. shouldn't take more than a couple of years). I blew my first 100$ account in two days.. funded it with another 100$. lasted about a week. got mad and forgot all about Forex.

In January 2009 my broker gave me a call "Some really large moves, people make fortunes, you will double, NO! TRIPLE your investment!". I didn't gave him my money but it brought back the idea of trading Forex for a living. Went back to it, read Alexander Elder's book "Trading for a Living" and funded another account with 1000$. In 3 or 4 days my account was 50% down. The good thing is that I stopped right then and there.

I read some of the J16 materials and posts, watched the videos in the guest area of the PF and I actually did pretty well for a couple of months. TRADING DAILIES WITH PA @ S/R LEVELS!

Two months later something happened and I started messing with my trades really bad. Closing them too early or too late, hoping, hanging on to them.. You know, the daemons and gremlins.

I stopped again and didn't trade for about 6 months. I kept reading about candles and price, trends, S/R levels.. I even took two or three hundred trades in the simulator on Daily TF. And guess what.. I am net winner in the Sim. I think it's because it is a lot easier to wait for good trades when it only takes a couple of minutes..


Long story short, I found this thread and the wonderful people that contribute here and I plan on learning all I can and giving back at least as much, as soon as I have something to give back.

Thank you all,

CT

Hi Strat,

Again please excuse the PM. I am never sure whether to clutter the thread with such questions or to ask behind the scenes.

From your last post directed to me on the thread, it is obvious that there is a distinction between DSRI and "normal" trend lines.

It seems I am not the only one who does not understand this, either. See above "trendlines (or DRSI)". Aston Dan is implying that they are the same thing.

I think a detailed explanation of what what they are, how they differ and how to correctly draw them; would be timely and useful.

I am now up close to page 400, so possibly there is such an explanation posted between where I am and the last of the thread. If so, sorry to pester you!

Best wishes,

Roger

You cant even PAY for this kind of information, Ladies and Gents.

THANK YOU AGAIN STRAT!!!!!!

Apologies to all, the above was supposed to be a PM

TL's and DSRI ARE different.

Tl's are drawn from the wicks and tails of our candles and DSRI is drawn on closes usually on a line chart.

Speaking of TL's

I saw that to while studying my charts.

It broke the TL and support with a BUOB on 4/6/2010. It then retested the TL 4/8/10 with a hammer shaped bar.

One thing I have difficulty with is distinguishing between Mr. Bond and the real thing. As we broke 4/7 lows and the high of 4/8/10 has already been broken yesterday was in fact a Swing Low.

We also broke out of a wedge continuation patter which may indicate this could really move upward.

These are all just observations. I personally want to see the root of the most recent TL being broken before considering any trades long.

My first Strat trade post.

I still have a problem defining monthly and weekly trends. For this trade, I am calling the monthly trend "up" as February candle is the last confirmed low. Similarly, I am calling the weekly trend "up" due to the weekly candle of 22-26 March being confirmed as swing low.

Pair: EURJPY
Trade: live, micro (10 cents/pip)
PASR: hammer bouncing off 50, closing above 20

Entry: long above the hammer high
S/L: below the hammer
Target: resistance at 127.8

Problems: does BEOB on weekly chart cancel out the "uptrend"? April monthly candle looks bearish at the moment. Should this be considered?

Cheers,
R

this MUST be in index and printed on every student's desk.

thanks, Strat

[quote=Raje$h;3622381]My first Strat trade post.

Hi Rajeshhttp://cdn.forexfactory.com/images/icons/icon7.gif

Let me have a go at your example.

I still have a problem defining monthly and weekly trends.

As far as as the trends are concerned, you should have a good idea how to determine a trend, earlier on the thread Strat explained this in a detail on number of occasions. The best is to minimise your candles and draw a line following the high of the candles either up or down, this will tell you which is the previling trend.

For this trade, I am calling the monthly trend "up" as February candle is the last confirmed low. Similarly, I am calling the weekly trend "up" due to the weekly candle of 22-26 March being confirmed as swing low.

As far as I see it, there is no trend up on either boss or big boss here - the trend is down.

Pair: EURJPY
Trade: live, micro (10 cents/pip)
PASR: hammer bouncing off 50, closing above 20

If you are new to trading or learning you shall consider much easier pairs than EJ as this pair is quite difficult to trade, this has been also advised earlier for those on the thread.

Entry: long above the hammer high
S/L: below the hammer
Target: resistance at 127.8

You are trading into the resistance and this is not a Stress Free Trade for a beginner (if you are one).

Problems: does BEOB on weekly chart cancel out the "uptrend"? April monthly candle looks bearish at the moment. Should this be considered?

This is not a BEOB as the week is not finished as yet.

I do not consider this as a valid stress free trade at all.

Happy tradinghttp://cdn.forexfactory.com/images/icons/icon14.gif
Jideck