Strike
Methodology
THIS
SERVICE IS FOR SUBSCRIBERS ONLY
Strike
Methodology started in 2007. However soon after the markets became very
volatile with massive daily expanded ranges. This
methodology became extremely tough taking more losses daily than
expected and
therefore I suspended the service on
11th October 2007.
The Subscribers Side continued as it always has with the DAILY SYSTEMS.
The results always were logged at the end of the day on the Traders
Side thread of Daily Recap every day.
However in 2009 I decided to bring back the STRIKE TRADER TABLE. This
shows the number of posted tradeds and the points banked every day. In
reality we were trading the STRIKE SYSTEM but not posting the results
in TABLE form in 2008. The results will
be logged in the table below.
As
part of
the continuous improvement that is always required for
Khalsaspad, I have decided now to further to drill home what I have
always thought this place should be about.
As you know, the main component of this place that makes it totally
unique is THE SYSTEMS.
However as time has gone by, many of us have deviated away from the
primary idea of this place which is to bank points daily.
The fundamental lesson is KNOW YOUR TIMEFRAME and yet by me posting my
MINI SCALPS, DAY THOUGHTS, SWING THOUGHTS and POSITION THOUGHTS, most
of you have not been able to separate your TIMEFRAMES. That is where
you all need to concentrate on to trade across different timeframes
otherwise frankly, just stick to one TIMEFRAME.
THE GOALS
The primary area's that should always remain constant are THE GOALS.
The are as follows:-
TOTAL DISCIPLINE
THOROUGH MONEY MANAGEMENT
LIMIT ANY LOSSES
CONTROL THE EMOTION
Most of all we need to enter each new day with the correct mental
psychology and that can only be done by controlling all the 4 GOALS
above.
So now its time to move onto PHASE2 of the development of
Khalsaspad.com.
What is PHASE2?
It is further development of DAY SYSTEMS (new ones and enhancing older
ones) and putting into practise what all DAY TRADERS should do, which
is.....
PLAN YOUR TRADE, TRADE YOUR PLAN
PLAN THE ENTRY
HIT AND RUN THE EXIT OR PUT A TRAILING STOP IN to BANK PROFIT.
NO GREED
NEVER LET A PROFIT BECOME A LOSS
CONTROL ANY POTENTIAL LOSSES WITH LIMITED DAMAGE OVERALL.
I have seen subscribers leave because they could not grasp the basics.
They had no discipline or money management. They let GREED vs FEAR
control their emotions. In the end they lost money and there is no
reason why that should happen here with all the knowledge, experience,
teachings etc.
The reality is, SYSTEMS have never STOPPED working. What has not worked
is trying to bear swing a bull phase by turning a DAY TRADE into a
SWING. How stupid is that if you are not capable of doing that or have
the right psychology of doing that. It is very stupid!
Infact when SYSTEMS do rarely fail, the history shows that the next day
is a great trading day and one can start to recover quickly any losses
from the SFD (SYSTEMS FAILURE DAY). However when one loses the day
before because they did not respect the GOALS above, then you cannot
benefit from the recovery the next day.
The fact is that SYSTEMS FAILURES are very rare and if that is the
case, then there is no reason why a DAY TRADER cannot succeed with the
assistance of Khalsaspad.com.
So how do we proceed?
I have now developed the STRIKE methodology. The SYSTEMS have always
been there but POST1 only gives a conclusion of what should happen.
Now as part of these new ideas, we have POST 2, 3 and 4 also. POST2's
function is to see how the SYSTEMS tie in with the levels and hence
what would be good entries and exits for the first STRIKE. That is
STRIKE1.
Infact whilst we are on this subject, here are the rough times of the
various STRIKES.
I feel any one day should have a maximum of 4 STRIKES and a minimum of
none, all based on POST1. The following ENTRY times are very
approximate for idea only.
STRIKE1 .... The overnight globex TRADE for UK timezone (up until 7am).
STRIKE2 .... The 7am/8am UK timezone Trade (ie when Europe wakes up)
STRIKE3 .... The post 1.30pm figures trade.
STRIKE4 .... The opening RTH / post 3pm figures trade.
These times are approximate and whatever happens the first TRADE of the
DAY will always be STRIKE1 and and the second one STRIKE2 irrespective
of what time they trigger.
The STRIKES will always be based on the SYSTEMS and POST1 vibe and not
SYSTEM MS, KAIS, KTB, KTS or ROADMAP trades. Those will be entirely
separate and nothing whatsoever to do with the DAYS TALLY.
Once the DAYS TALLY is done, its full and final and no more STRIKES can
be taken.
That can enable us to get on with our everyday lives and be away from
the
screens once all the STRIKES are over and the DAYS POINTS TALLY are
captured.
I am hoping that by doing this we will all achieve THE GOALS as above
and thrive to become better and more consistent traders.
As for times when we are in STRIKE TRADES and I have not given a STOP
LEVEL or you are unsure, on those trades, I would suggest an AUTO STOP
of 7 points. That is only for days where I am not here to update and NO
SPECIFIC INTRADAY LEVELS ARE IN PLAY.
This way I can never come back from a meeting or appointment and see
any STRIKE TRADE ever losing more than 7 points.
I wish you all the best of luck in your trading.
Khalsa
THE OLD STRIKE
METHODOLOGY TABLE
