Strat's Long Term Stress Free Trading

Do you have braille charts?

I am posting this, only in the hope of encouraging those who are beginning with their trading careers, and anyone who is doubtful about what they can learn as a member of stratsforextrading.com.

The enclosed is a screen shot of my account history, covering the period of 24 April to 7 May.

Nothing added and nothing left out.

Not bad when added to, close to 3140 pips of open profit.

In total, I have 9 open positions at the present time, all have their Stop loss at Break Even; and are therefore free trades. Stress free trading at its best.

Almost all my trading is done EOD after the NY market closes and I spend little screen time trading (but a lot of screen time studying and learning from the charts).

All from trading micro-lots.

It should be noted that I have traded very conservatively, only taken small risks; and importantly only traded with the Immediate trend, never CT.

Another point worth noting, it has taken me about 2 years to arrive at this point.

Here is part of our ongoing M5 Trading Discussion

Stand aside Feds and let BOJ have their evil way!

Have been waiting for IT since last month Strat.

To be honest I dont quite SEE IT.. yet.
But if you say its TIME .. I believe ya

gb

Greek Bouncer, you are putting pressure on me! I'm only going on what I SEE in the charts - not in the Stars!

By the way, nobody noticed I have my fibs upside down on that chart - come on people - PAY ATTENTION!

The 50% isn't upside down!!!

Ha Ha, glad someone has a sense of humour around here!

Loading up (again)

When did you decide to start this signal service?

...all others must undergo a rigorous identification check!


Sorry for delay in getting back to you, but I'm kinda flat-out at present.

OK, with regard to your charts:

1. The CADCHF.


I certainly wouldn't (and didn't) put any trust in the line you have drawn. It is based on a combination of Lows and Highs and as such is not a constraining Trendline at all. {That is not to say I didn't trade the spike low - I most certainly did, using lower order time frames, long from 73.50 and added on the 11th].

2 Eur/jpy.


Again, a line through both highs and lows (your red line) does not represent a constraining trendline. Your blue line has just 3 valid touches (the starting point or touch is invalid as it is actually part of the preceding uptrend). Again, I didn't take much influence from trendlines on this pair but certainly did take it long following the breach of 100 and the appropriate PA. Indeed, I have taken many positions both long and short since the Jan low of approx 96 (see previous posts). My latest position was a long against the 16 April low at 104.60. The majority of this position was unsuccessful and missed target at 108 by just a couple of pips - careless positioning of take profit]

3. The GBP/USD worker.


A much better line for sure, but definitely useless in terms of a mantis set-up for the following reasons: 1. It is a much lower time frame, therefore significance is questionable for that reason alone. 2. There are very clear horizontal levels just above this worker "constraining" trendline and these horizontal levels have been in play fairly recently meaning the probability of price pressing upwards is high. Also, every talking head/expert was calling this short at this level and one would expect a "clean-out" from the big boys.[Remember, the mantis launches an ambush attack - and you cannot ambush when your prey is stalking you! (The video below illustrates the consequences of misjudging a "mantis ambush". Very sobering - do watch carefully! - It should help you to remember the No1 rule!)

3. There has been no Mantis antennae(SS) to convincingly indicate terminal thrust (please note, that my attack on the AUD/CAD was based on what I call the Mantis setup - price was at extremes with no horizontal levels surrounding (then) current price, the constraining TL had multiple touches and approaches, and TL was based on the highest order time frame. Price had actually posted a SS on the big boss (and I had pointed this out in a prior post). None of these circumstances apply in the case of the pound dollar chart you posted so it doesn't even qualify as a "mini mantis" as you call it].





4. The GBPNZD. This is more like it.



We have the higher order time frame with constraining TL. We have a reasonable number of touches and a couple of approches. We are (or were) at an all time price extreme. The thrust you refer to that you think might invalidate the setup is actually what I am looking for (antennae). You actually have a "Hanging mantis" here. We have come back inside (the TL) and I am indeed looking for the long. You can see from the chart below the hammer where I took the long - and that I have been long for quite some time.



You will also see that price is currently at an important level on the BB and I am now monitoring the position on the worker. Looking to close, in all likelihood. But let's wait for PA.

Just a roll over from the website

Thank you again, trogger.

So, what I have now is that Mantis has to have an antenna and no recent major support / resistance at play. The setup trendline has to be either on highs or lows only, so no tricky lines.


Is your Mantis something wave related or purely based on trendline?


When I look at your GBPNZD trendline, you’ve made it fit ignoring two lows in the middle. Had you drawn it textbook correctly, antenna would be far inside. Unless you are using something else for drawing, I cannot imagine you based your trading decision on that line, I would call it very vague. I tried to adjust it on Worker or Boss and it gets even worse.


Or, you are using it as a general guideline only, and then you watch the Worker for PA? If so, then you probably took your first round of Mantis longs on hammers of June 10 and 30, 2011.


Later we did have an outstanding BUEB on August 2, 2011 on IBFX. My 15 min chart does not go that far back to check what was there.

Am I getting closer?

Here is a more or less correct Worker based trendline shawn.

re: When I look at your GBPNZD trendline, you’ve made it fit ignoring two lows in the middle. Had you drawn it textbook correctly, antenna would be far inside.

Sorry Triple Z

Hard as I look, I just don't see what you do.

Please post your chart.

Don't feel bad, Wild Thing, neither do I!

Let me try again, Trogger, sorry for confusing you.

The chart is attached below, hopefully it explains what I was asking better.

So, how are you using monthly trendline if depending on how you draw it, it can be off for several hundred pips and antenna won't be antenna any more but just a regular touch?

Not a valid Hammer

Why not?

Please explain yourself instead of throwing out one liners!

I will mention only 4 reasons:

1. Monthly direct trend not in sync
2. Weak close below Weekly R
3. The Daily hammer is fighting the Weekly 2 period shooting star
4. Where you placed your second buy stop is the FCL (first concern level)

If you want more then PM me

However the Weekly trend is bullish but this was not the setup to buy.

I will mention only 4 reasons:

1. Monthly direct trend not in sync

Big Boss is UP on my charts

2. Weak close below Weekly R

Not on my charts

3. The Daily hammer is fighting the Weekly 2 period shooting star

No Boss Shooting Star on my charts

4. Where you placed your second buy stop is the FCL (first concern level)

This is what I posted on the website regarding that level:


Posted: Tue May 08, 2012 2:28 pm
Be very cautious, xxxxxx - there is some tough resistance at BIG ROUND NUMBER 1.62 - see your H4 chart

The Hammer is still valid until there is a close below it and if that happens, its no big deal, that's what stops are for. We don't expect to win on every trade.