pipware.com

Chris,

Just log on to Skype and then send an IM to "stratman_fx" to add your name in his contact list. he will then add your name to the chat room participants.

cheers

I worked out a new Money Management Concept based on Rob´s idea to start trading and training with a small account - for this concept you would have to commit to invest 100$/Month into an account until you reach constant trading success.

Please write me your sugestions on improvement

Also set up an excel template for the trading Journal -has to be improved - ...and needs formulas added

Hi Stratman, for your template: $pipware-with-ma, how do I remove/disable the big left top Alert indicator? I cannot find in your indicator properties to remove it. It's taking off big part of my screen.

Thank you very much.

Hey Stratman

can you please tell me how I can make the new dashboard give signals specific to the chart that the signal is on, I think your old DB said what chart the signal was for but since the new doesnt I find I cant use the DB the way Id like to

thANKS

Good Luck

Hi Stratman,

Do you use Volume as part of your strategy? I think I have seen a volume indicator in one of your videos on youtube, was just wondering if you still use it?

I've just been reading the VSA thread and certainly looks interesting...

Eye opener on how their citizens are avoiding paying taxes in Greece..

http://www.nytimes.com/2010/05/02/wo...vasion.html?hp

http://www.nytimes.com/interactive/2...tml?ref=europe

One of the people in our skype room introduced us to VSA. It seems to have some merit ... I have been watching volume to see if I can understand how to use it.

Just banked 40 pips on this nice little setup using SMA 60 ... thought it worth showing:

And after we entered, we can bank 20 pips and wait for a retracement as shown in this pic

I notice you don't have many S/R, channels etc on your charts, do you still use these at all?

I have on my chart marked out s/r lines from D1, H4, and channels from H1 AND the Pivots indicator, my chart now looks like a road map lol...so you think these are necessary Stratman? Or anyone else?

I usually have 2 charts when things look messy. As well as the dashboard template, I have an H1 chart with my SR on it. Sometimes, I may mash it all together in one .. depends on how bad it looks.

Here's a picture of what I was using during last session ... EDIT: GJ is a little easier for horizontal SR .. it is usually on x.00 & x.50 levels

Presently, I find myself drawing a rough SR on Daily chart then going down to H1 zooming it way out.

I like channels ie sloping parallel lines. I draw them wherever I can see them

Here is an example:

Now if I zoom the last picture in .. you can clearly see that these lines become very good 'points of interest'. I typically don't use them for trade entry ... more for determining an exit .. if price hesitates at these points, I exit.

Then if we add our horizontal lines ... it is clear where price will have the most hesitation. In this picture, you can see that I knew that 143.00 was huge support ie lots of lines horizontal and sloping crossing at this location.

Now if I put it all together and show it on M15. Here's how one may have approached trading this ... I didn't ... I was sleeping.

We talk about all sorts of things in the skype room. Here is a snippet of some discussion about starting out with a live account ... and expectations of profit.

[LP]: I want to start out making 1% a day. is that unrealistic for a new/novice trader
[stratman]: that is probably a little unrealistic
[stratman]: establishing break-even over a month would likely be your first challenge
[LP]: great stuff to look forward too
[stratman]: then once you can do that .. aim for 10% for the month
[stratman]: that's like 0.5% per day ... if I consider we have 20 trading days per month
[stratman]: this gives you a couple of days up your sleeve to make up for losing days
[LP]: well its a start. cant start off making 100% a month. wouldnt that be great
[GC]: I know I am butting into your conversation but if you don't mind some extra advice. Please be patient and take only the better trades that you see. When I first started , I felt like I always had to be in a trade and it cost me a lot of money. Now , I am much more patient and it is a lot less stressful.
[stratman]: It's funny you should say that .. there are many who come into forex thinking it is easy money ... 100% in a month etc ... they become very disappointed when they finally realise that it's hard work ... 95% of people fail in trading
[JS]: Ditto. I've been demo trading for 5 months and still feel I have to enter every trade I think I see a setup for. My losers still outnumber my winners.
[LP]: GC i know wat u mean. Im still in the stage where i still feel the need to be in a trade but ive acknowledged it and im working on it. i really dont wanna be part of the 95%
[stratman]: I got to a point where I thought it was impossible to consistently make money ... then I got invited to a skype group with some guys that live from their forex trading profits ... now I am making a profit too (not enough to live off yet due to small equity)
[stratman]: also, the guys I mention use all different methods ..
[stratman]: I can't seem to operate their methods ... I have tried
[stratman]: but now I have found what works for me
[stratman]: some of you may find that my method doesn't suite you ... I acknowledge that this will happen .. it has been my experience with other peoples methods
[GC]: Oh don't get me wrong , I still have a long way to go . I took a pretty big hit which helped speed the process for me.
[LP]: haha i feel kinda scared to trade with my live money now. might let it sit there another month
[stratman]: wise .. try demo but then very quickly move to a small live account ... you only feel the pain with a live account
[stratman]: but make sure it's a small live account .. but large enough that you care about making a loss
[stratman]: only you will know at what level that fits
[LP]: ive put 500 in oanda.
[stratman]: for a weathly person ... that would be a 100K account
[stratman]: but the average person will be between a minimum of $100 through to $1000
[GC]: When you start live get a micro. It wont cost you much to learn but you will still feel the sting of loosing which does not happen on a demo.
[JS]: Only begin trading with what you can afford to lose.
[stratman]: all good points
[stratman]: wish I had met you guys 6 yrs ago ... lol
[JS]: same here.
[GC]: I hear that Rob.
[stratman]: it has cost me a lot to get to this point
[LP]: Ive specially saved from paychecks for about 3 months for the 500 so Im prepared to lose it. most traders bust there first live acc. and i know brokers count on it. but ima give it my best
[GC]: Rob your advice has also saved me quite a bit . Thank You.
[stratman]: you're welcome

Very helpful explanation of the support and resistance there, cheers!

Ok, not in the know on the Skype thing

Please direct me to what I'll need to do in order to join

(Meaning, I thought Skype was a phone thing)