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Strat's Long Term Stress Free Trading

  • #12,461
  • May 26, 2010 7:51pm May 26, 2010 7:51pm
Quoting mstandifer
Making Money in Forex:

Most people that post will actually say "you can't expect to get rich overnight"...but that isn't what they're thinking.

Because of the margin available to forex traders, it's very difficult to not entertain the thought of getting rich overnight. You've thought it, I've thought it, anyone who's done this has thought it. If they haven't, they're lying.

Are there traders with less than 6 months experience that have managed to do it? Yes. Is that the rule rather than the exception? No.

The simple fact is that the bell...
Everyone first contact with trading has that getting rich thinking. I belive all traders have to go through stages of experience in trading. Make it with less than 6 months experience is only for temporialy. Traders who put in the time study hard through thousand of charts reading and years of learning the market behavior earn the right to eat any dog. We are here to learn a skill that nobody can take it away from you. A skill that is recession proof and downsizing proof.
  • #12,462
  • May 27, 2010 1:53am May 27, 2010 1:53am
Quoting patrick25
...Traders who put in the time study hard through thousand of charts reading and years of learning the market behavior earn the right to eat any dog.....
I second that.
  • #12,463
  • May 27, 2010 3:20am May 27, 2010 3:20am
Quoting strat

Look again. You should see a rising wedge and HHs and HLs. This is a sign of buyers in control.

While the DSRI shows that May is a supply month, the Big Boss candle has bounced off support.
Reading Big Boss is still a challenge. I thought I've figured it out but situations like this makes me doubt my method.

When I look at the Big Boss to get the main direction, my mind tends to focus on the immediate event that I see. The immediate event could be a couple of candles or a dozen or more, depends on the situaţion. But usually my mind focus on less candles on Big Boss and most of the time it was enough for me trading the Worker. But most of the time, Big Boss chart doesnt look AUDNZD does.

For example on AUDNZD my mind focuses on what happened since Jully 2008 until now. And while the price is in a raising wedge, since Jully 2008, each high the price made into the resistance looks to me like the buyers are loosing momentul. Then when April ended like a SS, for me that was the sign that buyers were exhausted.

I guess i have to practice more.
  • #12,464
  • Edited 4:06am May 27, 2010 3:59am | Edited 4:06am
It has been a while since i post anywhere. I am in the middle somewhere and I am actually finally getting back in love with "learning". I promised Strat that I would tell me story. So finally I think it's time.

Hopefully this serves as a reminder for my seniors, to name a few, PistolDave, CrudeCraig, Elitejets, Alexandra, etc, to why you stopped at this thread and decided to grow with this thread. I also hope this will motivate newbies, like myself, why we are trading and why I accepted Strat's teaching in the first place. And to those who don't agree with the ideology and teaching of this thread, why are you still here? Didn't your mother tell you? "If you don't talk (or type), no one would say you are dumb". I know it has been a while (or maybe I am wrong) since we are bombarded with lurkers.

I jumped straight to the last page to post this without knowing who is new this thread. I do remember Mr. Lotus Man and Strat commented on my AUDUSD attempt. I forgot to thank them. So thank you.

I am relatively young. I started my business and worked my business until my soul rotted inside. My body started to fail also and while I was making money, I was feeling a void inside. I took my money that I was saving and let someone traded for me. This dude was a cowboy, betting 70% of my money and then finally hedged the loosing trade. Account kaboom.

Round 2. I traded for myself. I traded like a demo account with huge stop loss and huge $/pip but my account didn't have the funding like a demo. So the main problem was, I thought MM was a little round red, blue, green, yellow chocolate candy. I then thought hedging was a good idea. Can you imagine guessing when the price was going to reverse so that you can un-hedged? Can you imagine guessing where SR levels are (as I found out later) on 1 min candles??? Can you imagine trying do this until your brain looses hope like you are tied to a train track and choo-choo sound is getting closer. Just until you click "close ALL positions". The pain of a loss cuts deeper than any pain I have ever felt. I sat there and realized, "this is how gamblers feel when they gamble away their careers, homes, and family. This feeling of desperation is probably what leads people to rob banks, burgarlize, kill, and when all fails, commit suicide. What a grim thought"

I was scrolling through FF waiting for a news time, guess why?

Well, I found Strat. It has not been easy learning. First couple times reading, I was reading the material like it was a bad novel. If that is you, then please do it right if you are serious, otherwise, you are better of bury your money in your back yard.

This is a short-down version of my journey.

Believe it or not. I just learned the importance of identifying HH, HL, LH, LL TODAY! LOL. A slow one I am. Patience! Discipline! Read and Understand!

Sorry if I don't reply back. I am going back to where I left off to continue my learning. See you again soon.
  • #12,465
  • May 27, 2010 4:44am May 27, 2010 4:44am
Quoting jayph
like you are tied to a train track and choo-choo sound is getting closer.
LOL

Been there, done that... Never again. A salutary tale.
When in doubt, sit on your hands...
  • #12,466
  • May 27, 2010 9:53am May 27, 2010 9:53am
As a part-time trader, I was so stressed trying to find balance in my busy life.

This is a great thread, at least to me, Finally I can see some light in the dark.

Thanks Strat and everyone in this thread.
  • #12,467
  • May 27, 2010 11:12am May 27, 2010 11:12am
Quoting Raje$h
Hi Strat,
Isn't the Boss already aligned with the Big Boss as it is trending down since beginning of May? Is it necessary for the 20 to be below 50 before we say the trend is down?

Confused.
I wasn't referring to any currency pair only the correct sequence: Worker in line with Boss in line with Big Boss.

The MAs are one indication of trend but the main ones are swing highs and lows.

Put up a chart with questions if you are still confused.
15 YEARS OF PASR ON FOREX FACTORY!
  • #12,468
  • May 27, 2010 11:29am May 27, 2010 11:29am
Quoting hcristea
Reading Big Boss is still a challenge. I thought I've figured it out but situations like this makes me doubt my method.

When I look at the Big Boss to get the main direction, my mind tends to focus on the immediate event that I see. The immediate event could be a couple of candles or a dozen or more, depends on the situaţion. But usually my mind focus on less candles on Big Boss and most of the time it was enough for me trading the Worker. But most of the time, Big Boss chart doesnt look...
See if this helps - a picture is better than words.

I guess i have to practice more.

"We" can never do enough of this - I still practice EVERY WEEK!
Attached Image (click to enlarge)
Click to Enlarge Name: big boss.gif Size: 30 KB
15 YEARS OF PASR ON FOREX FACTORY!
  • #12,469
  • May 27, 2010 11:38am May 27, 2010 11:38am
Quoting jayph
It has been a while since i post anywhere. I am in the middle somewhere and I am actually finally getting back in love with "learning". I promised Strat that I would tell me story. So finally I think it's time.

Hopefully this serves as a reminder for my seniors, to name a few, PistolDave, CrudeCraig, Elitejets, Alexandra, etc, to why you stopped at this thread and decided to grow with this thread. I also hope this will motivate newbies, like myself, why we are trading and why I accepted Strat's teaching in the first place. And to those who...
So how long are you going to stay this time before you hop onto another thread?

Hopping about from one thread and their system to another is what LOSERS do.

I don't care which thread you choose but if you are SERIOUS about being a profitable trader, choose one thread and method, stick with it and become an expert at it or maybe you are just happy being a JACK of all trades, MASTER of NONE.
15 YEARS OF PASR ON FOREX FACTORY!
  • #12,470
  • May 27, 2010 11:53am May 27, 2010 11:53am
This is an extract from a PM received today. The rest of it is worse than this and not worth posting:

You posted in your thread yesterday……The thing against this trade is that whatever caused the sell off in AUD seems to have now been priced into the market and seems ready to recover some of its losses…………….. and today the AUD pairs do just as you predicted! No-one could know that unless they had inside information and while I’m at it, no-one can trade as good as you like to make out so fess up, where are you getting your information from?

This negative and destructive crap is exactly why I was always reluctant to start a public thread!
15 YEARS OF PASR ON FOREX FACTORY!
  • #12,471
  • May 27, 2010 12:17pm May 27, 2010 12:17pm
Quoting strat
This is an extract from a PM received today. The rest of it is worse than this and not worth posting:...
strat..
this made me LAUGH ....
you should take it is as a COMPLIMENT.... at least he admits YOU ARE GOOD...and he is really confused... i mean he thinks trading is a " FBI " " CIA " type of thing... NOT even trying to work out that YOU have been TEACHING for well over a year.and share your method and thoughts..
So i say even he recognises your Greatness...BUT in a deluded way...
take care

baz
  • #12,472
  • May 27, 2010 1:40pm May 27, 2010 1:40pm
Quoting strat
This negative and destructive crap is exactly why I was always reluctant to start a public thread!
And you did not refer him back to page one of the thread, he obviously has not read the whole thread and seen the number of times, you have showed us your mistakes.

Strat, he's like all of us, jealous we can't trade as well as you, YET!
  • #12,473
  • May 27, 2010 1:43pm May 27, 2010 1:43pm
Isn't it just beautiful how all the prices are clawing there way back towards their 20ma, all those that is that were too far away. Now all we need is some confluence with SR and maybe a fib and/or or nice long term TL and we will be back in business.

I am now waiting for the month to end, very happy with my 2.5% profit this month thanks to the teaching on this thread, and looking forward to the first A class trade next month if there is one. I never thought I would be able to be this patient and particular choosing my next trade, no stress, luvverly.

Larry
  • #12,474
  • May 27, 2010 2:45pm May 27, 2010 2:45pm
Quoting strat
This is an extract from a PM received today. The rest of it is worse than this and not worth posting:

You posted in your thread yesterday……The thing against this trade is that whatever caused the sell off in AUD seems to have now been priced into the market and seems ready to recover some of its losses…………….. [i]and today the AUD pairs do just as you predicted! No-one could know that unless they had inside information and while I’m at it, no-one can trade as good as you like to make out so fess up,...
And here I was just thinking what a great example the A/U PA was - even higher volume on the Hammer at SR! And thanking my lucky stars I stumbled across this thread. I am just a beginner but the light turned on when I saw that PA and now I can really start to see how profitable trading can be obtained. Thanks for all of your time and effort.
  • #12,475
  • May 27, 2010 3:05pm May 27, 2010 3:05pm
Quoting strat
See if this helps - a picture is better than words.
TRUE Thanks, it helps alot.

Big Boss bounced nicely from support and Worker made a HH which invalidated any short setup that I saw yesterday. I'm back on watching mode.
  • #12,476
  • May 27, 2010 4:43pm May 27, 2010 4:43pm
Here's a nice TRIPLE bottom for you to have your evil way with.

"But what about the trend, you bottom pickin' game boy?"

"Screw the trend, think of how we can get in before anyone else and make tons of money"




Professionals look for a reason NOT to take a trade
Amateurs manage money by taking risk
Professionals manage risk by taking money
Attached Image (click to enlarge)
Click to Enlarge Name: bottom pickin' eurusd.gif Size: 26 KB
15 YEARS OF PASR ON FOREX FACTORY!
  • #12,477
  • May 27, 2010 4:44pm May 27, 2010 4:44pm
Quoting strat
This is an extract from a PM received today. The rest of it is worse than this and not worth posting:...
Greetings Strat, despite the fact that I have felt the sting of your lash several times, I have never lost my respect for you, or doubted your motives or honesty in relation to the thread.

My dedication to the mastery of your method is total.

I am not going to waste time on personal praise, you don't need that; but I do want to thank you for persisting with your teaching role, and for the time you have spent to make more than 3,500 posts on this thread, many of them pure gold for your students.

I sincerely hope you will disregard the silliness of the PM you received, and realize how valued your contribution is, by so many people on "the path".

Thanks again, Roger
"Make everything as simple as possible, but not simpler" Albert Einstein
  • #12,478
  • May 27, 2010 5:02pm May 27, 2010 5:02pm
Quoting No1Optimist
Greetings Strat, despite the fact that I have felt the sting of your lash several...
I have felt the sting of your lash several times

It's the only way I know to beat you guys into shape! As you learn the method, rules and "toe" the line, the lashings eventually get less.

Thanks for the encouragement but it will take a far uglier dickhead than this to put me off!
15 YEARS OF PASR ON FOREX FACTORY!
  • #12,479
  • May 27, 2010 5:11pm May 27, 2010 5:11pm
Quoting Blk
As a part-time trader, I was so stressed trying to find balance in my busy life.

This is a great thread, at least to me, Finally I can see some light in the dark.

Thanks Strat and everyone in this thread.
stressed trying to find balance in my busy life.

Balance is boring! The adrenalin rush from thrills and excitement does us a power of good!

If you're married, get a girlfriend; If you have a girlfriend, get another; If you're not married, get married - Oh, there goes the thrills and excitement! So, get a girlfriend, or maybe a fast car, or run through the streets naked like Maradona has promised - now that will be an adrenalin rush but most probably a BIG LAUGH which is what we all need anyway!
15 YEARS OF PASR ON FOREX FACTORY!
  • #12,480
  • May 27, 2010 5:13pm May 27, 2010 5:13pm
Quoting strat
I have felt the sting of your lash several times

It's the only way I know to beat you guys into shape! As you learn the method, rules and "toe" the line, the lashings eventually get less.

Thanks for the encouragement but it will take a far uglier dickhead than this to put me off!
That is very welcome news.
"Make everything as simple as possible, but not simpler" Albert Einstein
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