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-   -   Strat's PASR Long Term, Stress Free Trading (https://www.forexfactory.com/showthread.php?t=708441)

HappyTrend Feb 13, 2019 10:26am | Post# 10361

{quote} The spread is insignificant compared to the $ earned!

I need to learn "when to get out" without stoploss... Because the spread that i have is bigger than yours... and i always use stoploss behind of confirmed swings most of time. With that spread, if the price retrace... the spread can hit the stoploss without the price reach that zone. Is the thing that im thinking about it.

Anyway i have been doing only watching the pairs without participe.

huatzhi Feb 13, 2019 10:33am | Post# 10362

3 Attachment(s)
5 Min Bootcamp
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(1) Premature entry in my opinion after I look back.
(2) Most fit entry in my opinion, but I already enter.
(3) A potential confirmation entry if previously I haven't done it, but it still stop right above SR.
(4) Closed below SR with BEOB confirming the price going down. (Had a sigh of relieve)
(5) Way too tired to continue watching, so decide to close when SR hit.

1 Min Bootcamp (1)
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(0) Start watching @ red vertical line, with the BEOB before it being a Strat Saddle confluence 200ema (and the chart pattern that happen before this),
(1) Miss the entry due to lack of confidence (BEOB)
(2) Entry
(3) Form a double bottom with BUOB, so exited prematurely (loss 1)
(4) No re-entry due to double bottom (which is bad since the previous price pattern already proven its going down)
(5) Confirm breakout, with bigger SL
(6) This really trigger my emotion much when looking at chart tick
(7) Entry, then get stop out
(8) re entry
(9) exited once for all as I kind of get tired of this pair
(10) trend continue without me, while I move on to easier pair

I really should learn how to trade this properly.

1 Min Bootcamp (2)
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(1) Happy with the obvious simple entry
(2) Since this is after the EURAUD trades, this happening making me wanting to exit, the next 2 bullish candle as well.
(3) Re-enter
(4) More emotional trigger, thinking why didn't I exit on SL hit
(5) Re-enter
(6) Very tempted to exit
(7) No re-enter
(8) Tighten SL (I don't think is wise to do), let price do its thing
(9) Final confirmation
(10) Got tired of staring at the chart, exit on SR hit.

Comments welcome.

strat Feb 13, 2019 10:36am | Post# 10363

{quote} Hi Rub Yes, I just had a few hours while doing the other job on the other laptop keeping an eye on the charts. I've learned that if I concentrate too hard on trading it goes down the sink fast! Have to say though it's taken many hours of screen time to get the pressure off my back and getting to the point that taking a couple of 20 pip consecutive trades over and over after the GBP London fakeout is better for me than holding out for the few home runs. I'm making plans to trade regularly in the morning GMT session in about two months time...
I've learned that if I concentrate too hard on trading it goes down the sink fast!

Pressure to succeed and earn money is our greatest enemy. We need to be in a ""relaxed, free state of mind"" when trading which comes with spending thousands of hours trading PASR on thousands of charts.

Monitoring your ""state of mind"" when trading is equally important. Today, I was getting fed up watching PRICE so I pulled the plug when I felt my mind wandering and that is me done for the day on M1, M5 and M15. Yesterday, I just did not feel in the mood for trading so I found other things to do (I lie - my Big Boss found me other things to do!)

Have to say though it's taken many hours of screen time to get the pressure off my back and getting to the point that taking a couple of 20 pip consecutive trades over and over after the GBP London fakeout is better for me than holding out for the few home runs.

Your trading style is finally evolving Nathan!

strat Feb 13, 2019 10:41am | Post# 10364

{quote} I need to learn "when to get out" without stoploss... Because the spread that i have is bigger than yours... and i always use stoploss behind of confirmed swings most of time. With that spread, if the price retrace... the spread can hit the stoploss without the price reach that zone. Is the thing that im thinking about it. Anyway i have been doing only watching the pairs without participe.
Because the spread that i have is bigger than yours...

Then get another broker! The broker industry is far too competitive these days to be paying over the odds on Spread!

huatzhi Feb 13, 2019 11:10am | Post# 10365

2 Attachment(s)
GBPAUD 5min boot camp 13-feb-2019 Same as usual, vertical line for London open, horizontal lines to show support and resistance. I'm aware there is GBP news about 1.5 hours into the session. So, onwards! Rejection of strat shadow, small doji, and in continuation of the European open. Stop is below previous low, set early in the previous hour, and was hit the next bar. Much better entry I should've waited for in the first place. Almost hit my stop about 15 minutes after entry. Exit for a couple of pips loss after a big down candle. Not really a good...
Hi Rub,

Here is my suggestion (might or might not be useful).

I like to check with my trend line lately (especially when I'm doing my low TF bootcamp). When the trend line get broken, I would expect either it turn into consolidation or potentially reverse, until price prove me wrong.

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In this case, I might not be able to avoid the first trade, but I would avoid the second. And it would probably be consolidation/ranging when it follow up with lots of long wicks doji, and confirmed by the reversal of 200ema.

(Though I don't have an answer for which TL to use, or when not to wait TL breakout, its more of a "feel" for me. I do prefer to use it in confluence of Strat Shadow break.)

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strat Feb 13, 2019 11:11am | Post# 10366

5 Min Bootcamp {image} (1) Premature entry in my opinion after I look back. (2) Most fit entry in my opinion, but I already enter. (3) A potential confirmation entry if previously I haven't done it, but it still stop right above SR. (4) Closed below SR with BEOB confirming the price going down. (Had a sigh of relieve) (5) Way too tired to continue watching, so decide to close when SR hit. 1 Min Bootcamp (1) {image} (0) Start watching @ red vertical line, with the BEOB before it being a Strat Saddle confluence 200ema (and the chart pattern that happen...
Very good, huatzhi.

(1) Premature entry in my opinion after I look back.

We are not looking for the "perfect" entry - just get in on the trend! Remember, our Stop Loss relative to our Reward, is very small on M5 and even smaller on M1.

(4) Closed below SR with BEOB confirming the price going down. (Had a sigh of relieve)

Keep your emotions (sigh of relief) out of your trading - have faith, belief and confidence in YOU and PASR

(5) Way too tired to continue watching, so decide to close when SR hit.

Excellent! Always GET OUT when you can't focus 100% on your trades.

(1) Miss the entry due to lack of confidence (BEOB)

Have faith, belief and confidence in YOU and PASR

(3) Form a double bottom with BUOB, so exited prematurely (loss 1)

WHY? Watch how PRICE is behaving in and around the Strat Shadow in the trend - we are not trading Basic PASR!

(4) No re-entry due to double bottom (which is bad since the previous price pattern already proven its going down)

WHY? Watch how PRICE is behaving in and around the Strat Shadow in the trend

(6) This really trigger my emotion much when looking at chart tick

WHY? This is why you need to spend thousands of hours trading PASR on thousands of charts

(7) Entry, then get stop out

When you have spent the hours, you will learn to WATCH for the pull back before your next entry

(8) re entry

OK this time but may not be on others so WAIT for PRICE to CLOSE below the Strat Shadow after each pull back.

(9) exited once for all as I kind of get tired of this pair

Good! Never force yourself to watch or trade.

(2) Since this is after the EURAUD trades, this happening making me wanting to exit, the next 2 bullish candle as well.

PRICE at support will tell you this - not your emotions

(4) More emotional trigger, thinking why didn't I exit on SL hit

WHY? Watch how PRICE is behaving in and around the Strat Shadow in the trend - we are not trading Basic PASR!

(8) Tighten SL (I don't think is wise to do), let price do its thing

YES - let PRICE do its thing

(10) Got tired of staring at the chart, exit on SR hit.

Good! Never force yourself to watch or trade.

Well done, huatzhi. Concentrate and make sure you do not get HYPNOTISED by the candles moving up and down. FOCUS on how PRICE behaves in a trend AND more especially, in and around the Strat Shadow.

Don't just watch the candles - SEE BEYOND THE CANDLES - understand what the sellers want in a down trend

dashurry Feb 13, 2019 3:36pm | Post# 10367

1 Attachment(s)
UPDATE: That minor Resistance rejected Price which made his way back to the 61.8 Fib lvl.
BEOB seems to be the candle at closing time but not rushing on any conclusion. Volume is higher than previouse 3 days.
PA between 20 and 50 and left Weekly 20 behind him.
Looks to be forming a M pattern, thats why i draw a line at 1.876. IF PA stands out im gonna put an Sell Order and if not than i pass.

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Thank you @Scramy for your Pov.

BeyondTheSea Feb 13, 2019 3:43pm | Post# 10368

1 Attachment(s)
{quote} I've learned that if I concentrate too hard on trading it goes down the sink fast! Pressure to succeed and earn money is our greatest enemy. We need to be in a ""relaxed, free state of mind"" when trading which comes with spending thousands of hours trading PASR on thousands of charts. Monitoring your ""state of mind"" when trading is equally important. Today, I was getting fed up watching PRICE so I pulled the plug when I felt my mind wandering and that is me done for the day on M1, M5 and M15. Yesterday, I just did not feel in the mood...
Thanks Strat

Getting there...

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strat Feb 13, 2019 5:04pm | Post# 10369

1 Attachment(s)
UPDATE: That minor Resistance rejected Price which made his way back to the 61.8 Fib lvl. BEOB seems to be the candle at closing time but not rushing on any conclusion. Volume is higher than previouse 3 days. PA between 20 and 50 and left Weekly 20 behind him. Looks to be forming a M pattern, thats why i draw a line at 1.876. IF PA stands out im gonna put an Sell Order and if not than i pass. {image} Thank you @Scramy for your Pov.
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Yes, AT YOUR BROKER, but not in the big scheme of World Wide forex!

strat Feb 13, 2019 5:10pm | Post# 10370

1 Attachment(s)
UPDATE: That minor Resistance rejected Price which made his way back to the 61.8 Fib lvl. BEOB seems to be the candle at closing time but not rushing on any conclusion. Volume is higher than previouse 3 days. PA between 20 and 50 and left Weekly 20 behind him. Looks to be forming a M pattern, thats why i draw a line at 1.876. IF PA stands out im gonna put an Sell Order and if not than i pass. {image} Thank you @Scramy for your Pov.
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Views: 484
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Who cares??????

strat Feb 13, 2019 5:12pm | Post# 10371

1 Attachment(s)
UPDATE: That minor Resistance rejected Price which made his way back to the 61.8 Fib lvl. BEOB seems to be the candle at closing time but not rushing on any conclusion. Volume is higher than previouse 3 days. PA between 20 and 50 and left Weekly 20 behind him. Looks to be forming a M pattern, thats why i draw a line at 1.876. IF PA stands out im gonna put an Sell Order and if not than i pass. {image} Thank you @Scramy for your Pov.
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PRICE and the Market does not care what you, I, or anyone would like to see!

strat Feb 13, 2019 5:14pm | Post# 10372

1 Attachment(s)
UPDATE: That minor Resistance rejected Price which made his way back to the 61.8 Fib lvl. BEOB seems to be the candle at closing time but not rushing on any conclusion. Volume is higher than previouse 3 days. PA between 20 and 50 and left Weekly 20 behind him. Looks to be forming a M pattern, thats why i draw a line at 1.876. IF PA stands out im gonna put an Sell Order and if not than i pass. {image} Thank you @Scramy for your Pov.
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Views: 482
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For the gazillionth time, VOLUME in Forex means NOTHING, nada, diddly squat!

strat Feb 13, 2019 5:16pm | Post# 10373

1 Attachment(s)
UPDATE: That minor Resistance rejected Price which made his way back to the 61.8 Fib lvl. BEOB seems to be the candle at closing time but not rushing on any conclusion. Volume is higher than previouse 3 days. PA between 20 and 50 and left Weekly 20 behind him. Looks to be forming a M pattern, thats why i draw a line at 1.876. IF PA stands out im gonna put an Sell Order and if not than i pass. {image} Thank you @Scramy for your Pov.
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Views: 485
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PASR trades in the NOW, not what MIGHT happen!

strat Feb 13, 2019 5:18pm | Post# 10374

1 Attachment(s)
UPDATE: That minor Resistance rejected Price which made his way back to the 61.8 Fib lvl. BEOB seems to be the candle at closing time but not rushing on any conclusion. Volume is higher than previouse 3 days. PA between 20 and 50 and left Weekly 20 behind him. Looks to be forming a M pattern, thats why i draw a line at 1.876. IF PA stands out im gonna put an Sell Order and if not than i pass. {image} Thank you @Scramy for your Pov.
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Views: 490
Size:  < 1 KB

Who cares????

HappyTrend Feb 13, 2019 8:15pm | Post# 10375

{quote} {image} For the gazillionth time, VOLUME in Forex means NOTHING, nada, diddly squat!
What is "Diddly Squat"?

dashurry Feb 14, 2019 12:25am | Post# 10376

{quote} {image} Who cares????
DAMN i got roasted really well. Thank you strat. I will get rid of the FIB and Volume. Its just that im on your original thread and on page 51 atm....people used to take Volume and FIB as confluence signals. Here many things changed. But whatever 1 step at a time.

Keep it up Legend

Rub Feb 14, 2019 1:03am | Post# 10377

Thanks bistolis, strat, and hautzhi for the feedback. Looking back at it now it's pretty clear I should've taken profit on my second trade at the resistance or looked for another pair.

5 Min Bootcamp {image} (1) Premature entry in my opinion after I look back. (2) Most fit entry in my opinion, but I already enter. (3) A potential confirmation entry if previously I haven't done it, but it still stop right above SR. (4) Closed below SR with BEOB confirming the price going down. (Had a sigh of relieve) (5) Way too tired to continue watching, so decide to close when SR hit. 1 Min Bootcamp (1) {image} (0) Start watching @ red vertical line, with the BEOB before it being a Strat Saddle confluence 200ema (and the chart pattern that happen...
All these are more or less how I see myself trading it, but the little people get to have a say too.
5min chart
I see (3) as the really stand out obvious entry, and likely the one I would take, (4) would be a good add on trade. Nothing wrong with taking your profit at (5) either.
1min chart 1
(1) I would've given a miss too
(2) I would have taken and got out at the same point if I was smart
(4) the long wick would've kept me out.
(5) I would've taken, if I didn't get stopped out at (6) I would've gotten out the bar after, where price tested support and didn't break it.
(7) Probably been the same as you
(8) A bit marginal that deep in the strat shadow and making what looks to me like a higher high, but (9) would suck me in.
1min chart 2
(1) Yup, clear as day entry.
(2) Take the profit, can always re-enter.
(3) Not a clear entry for me, more a hesitation at the strat shadow, but definitely take profit at (4). Price is showing it's not going to go lower.
(5) I see the entry as the bar before, might've been taken out by the high at (6) though.
(7) is a clear entry, nice proportionally big down move.
(8) tightening stop loss is and money management is a personal thing. Got to let you work that one out for yourself!
(9) is perfectly fine entry, as was the bar before it.
(10) Exiting at the bullish bar afterward at least.

{quote} DAMN i got roasted really well. Thank you strat. I will get rid of the FIB and Volume. Its just that im on your original thread and on page 51 atm....people used to take Volume and FIB as confluence signals. Here many things changed. But whatever 1 step at a time. Keep it up Legend
When you're posting your charts please post at least the time frame you're trading from and the next one up so we can see what you see. Although NY close is petty much the standard these days that's not to say your broker isn't wonky.

bistolis Feb 14, 2019 5:30am | Post# 10378

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{quote} What is "Diddly Squat"?
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dashurry Feb 14, 2019 6:07am | Post# 10379

Thanks bistolis, strat, and hautzhi for the feedback. Looking back at it now it's pretty clear I should've taken profit on my second trade at the resistance or looked for another pair. {quote} All these are more or less how I see myself trading it, but the little people get to have a say too. 5min chart I see (3) as the really stand out obvious entry, and likely the one I would take, (4) would be a good add on trade. Nothing wrong with taking your profit at (5) either. 1min chart 1 (1) I would've given a miss too (2) I would have taken and got out...

I trade daily and weekly. Not below it.

strat Feb 14, 2019 9:20am | Post# 10380

{quote} DAMN i got roasted really well. Thank you strat. I will get rid of the FIB and Volume. Its just that im on your original thread and on page 51 atm....people used to take Volume and FIB as confluence signals. Here many things changed. But whatever 1 step at a time. Keep it up Legend
DAMN i got roasted really well.

Sorry, that was not a roasting but you took it really well. The double barrel shotgun is what you have to watch out for and I don't know where I put it these days!

My using volume then was a carry over from my Futures and Commodities trading. I tried really hard to make it work on Forex but it ended up as much use as using butter to plaster walls.

We still use the Ice Cream man but ONLY when he is in confluence with all our other PASR tools.

The same with ""M"" and ""W"" formations - we ONLY use when in confluence.

When you post an analysis, post your 3 charts - the Big Boss first, then the Boss and then the Worker. Do not combine, as you did, onto one chart as it is very confusing.


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