Strat's Long Term Stress Free Trading

Counter trend trade.

You can pay either of the prices indicated by the red lines- the upper line and you may have them tonight.
If you wish to take the discounted, lower level, then let's make it a month or two..or three... before settlement - I want your interest to cover the discount!
cheers

download this free software

http://www.jetscreenshot.com/download.php

and it will allow you to save to file whatever is on your screen, then u attach it as a normal attachment.

File>save as image. and file type will be png

Another look at the Chart:

I will try those suggestions for chart saving.

With regard to your chart Simpleman, I suspect that 1.28 is where the support level is more likely to be. But notice that my broker spikes this down another 40pips (green ellipse) - they do this on monday mornings NZ time (12th june , in this example)- just before it runs in the "correct" direction on the 13th.
I am not prepared to take a loss below the hammer of 23 June. I will look to re-enter long if I see another opportunity later ( and if i am stopped out on these current positions). Also, I don't know how big my broker may decide to spike this on monday morning, so unless I am looking "safer" tonight I may well just close this before the end of today's trading.




I think the Big Boss, despite the June indecision, still suggests a long bias unless 1.28 is convincingly breached.



Of course, I could well be wrong - hence my tight stop loss and plan to look for re-entry opportunites.

I never meant to say your trade is not right as nothing is right or wrong in trading, just wanted your attention towards supply TL and what I see is Kiwi has outperformed Aussie recently but it will not necessarily happen in the current leg, may be Aussie will outperform Kiwi and AUZNZD will keep going up.

Very good support at 128 and strong resistance at 132 but all the support and resistances and MAs are there to be broken at some point.

Keep it up you had been going very well and I learn from all of you.

Strat shadow trading.

Good job!

On H4, why didn't you enter off the previous PA candle and did you think about entering off the Worker June 29 bar?

Still, any profit is better than a loss.

Thanks Strat, yes I entered off base on previous PA candle. It just candle low was 1.3510 and I wanted my entry away from round number. My entry was 1.3490. Yes the decision to put on the trade was also base on the PA on Worker June 29 bar below Strat shadow on Worker.

Missed a few pips for first TP, but that's o.k. The two positions are at BE.

Having rebounded off support and stretched a bit, next week will be watched for re-entry versus signs of change.

Glad to hear your still on your path...I just didn't remember you looking at 4hr before.
Regards, Dart

Couple of charts to view:

Hi all,

Strat asked me to post my account success so far over the past 9 months using this method. I trade PASR using only the 20/50ema and I use the 10sma as a dynamic trendline. This was recommended recently in a book I read by a Market Maker. He said TLs are very subjective and people draw them from different points all the time - at his firm people just used the 10sma. This prevents you from trying to pick tops and bottoms. I only take a reversal candle now once there has been a break and close below the 10sma. So really, I'm getting into a trade once the market has stalled and showed me the new trend.

I'm also using a trailing stop based on ADR. I know there are hundreds of stop strategies but I have found that the trailing stop put on at trade order seems to be doing OK for me. I use an ADR indicator on MT4 and add around 10% - so if my ADR is telling me 120 pips I will set the trailing stop at 130 pips. This allows me more freedom in the day to get on with other things and not worry about taking profits on trades etc.

I have also meddled with TFs lower than the daily but found them too stressful. I still take the odd H4 set up in line with my daily analysis for a tighter entry but I still don't find it as reliable as the daily TF.

I also have a Checklist. I read a book recently about Checklists and how they saved lives in US operating theatres - then the WHO asked this chap to implement a simple checklist for doctors all around the world. He based his work on pilot checklists from the airline industry. The book is called 'The Checklist Manifesto' by Atul Gawande - well worth a read!

I have attached a copy of my checklist here - you can adapt it for your own style of trading. By using this list you are trading your edge and not your emotions. When you 'feel' like putting a trade on your senses will be drawn to the checklist and often by going thru this process you will prevent your emotions getting the better of you and entering crap trades.

So, my friend and I funded a small account back in Oct last year and today we are 230% up. I went in with a silent partner because I found that managing someone else's money made me less susceptible to chucking on crap trades due to having to justify my actions.

I'm using the minimum lot size my broker allows. Sure I still get losses and draw downs but overall the wins are greater than the losses (thanks to the stop strategy). I follow 16 Forex pairs, Oil, Gold and Silver along with the Eminis and the Dow Jones. We sometimes trade the commodities if we feel there is a good set-up. (The signs were there for short Corn pre announcement by the USAD last week. The next day corn dropped 10%! The bad thing with these commodities is their tendency to 'gap' so if you don't have guaranteed stop losses you could lose a lot of money very fast. The key is leverage - only take the minimum lot sizes until you have a sizeable balance.)

So, I'm not here to brag at all. I just wanted to share with you that by using Strat's methods you CAN become successful. Its a long journey and I still have a lot to learn especially when I start to increase lot sizes etc as this will open up new emotional battles. Just stick with it, keep your leverage to a minimum and be patient. You don't HAVE to trade every day. Let the market come to you. Good luck to you all!!

(PS - I have also found that my results are better NOT reading the news or needing to know WHY price as acted. I used to read too much in the FT, Bloomberg etc and come to the charts with a view. I try to dismiss all that I think I know (because I don't!!!) and come to the charts with an open and neutral mind. Once you do this and de-cloud your mind you will find your results should get better)

Thank you for posting this Danny boy. Your success is down to YOU taking my proven PASR method and making it YOURS by adapting it to YOUR trading style.

As far as I know, you are the most successful of all my PASR students - VERY WELL DONE - I'm sure the rough patches you went through with me are paying off now.

As I have posted many times, success in trading comes from having the DETERMINATION and WILL POWER to stick with your chosen method until you UNDERSTAND it as well as the method developer.

Good Stuff GW... keep it up..
yes our STRAT knows a thing or two about trading...

i like your CheckList..and especially NOT WATCHING FINIANCIAL TV or looking for excitment...

baz

Good work Danny, we are impressed, majority of percentage gains must be from trading trend and staying in as far as possible(i assume)

Thank you for your kind words and appreciation for my PASR method - I saw this post earlier but forgot to thank you - please accept my apologies.