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

TerryDawe Feb 21, 2019 11:07am | Post# 10461

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I have been struggling with my trading due to constantly scrolling through all time frames and getting totally confused and bogged down. Strat suggested that I pick a time frame and focus on it and only it, maybe one time frame below that one.
Thanks very much for the guidance Strat.
I have decided to focus on the Daily with some views on H4 and H1. First trade taken on EURNZD Daily time frame yesterday with PA signal of BUEB closing above inside bar high. I set my target at resistance at bottom of the Strat Shadow. I manually closed the trade this morning with target hit for approximately 90 pips.


I am including a copy of the H1 time frame as well as the daily. This was a counter trend trade and will be watching for an opportunity to get back in on the downside with acceptable PA at resistance.
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TerryDawe Feb 21, 2019 11:19am | Post# 10462

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Having decided to focus on Daily time frames, I am posting a trade I took two days ago which shows my indecision and lack of confidence. I had entered short the NZDCAD on PA signal bar which closed below the daily inside bar. Initially price was going against me and due to my lack of confidence I closed the trade below my stop. It is clear that the trade was a good one and had I let it go I would still be in profit and moving down. Valuable lesson learned.
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JCMPete Feb 21, 2019 12:02pm | Post# 10463

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{quote} Hi Pete, Here just my view. It could go further down, but then even if it does, then you are not trading Basic PASR anymore. Basic PASR is just trade from one SR to another SR.
Hi Huatzhi

True, and I agree with you. Which is why my comment was that i should have got out the first time that price hit SR but I was hoping for more instead of following the rules. I was very lucky, look what happened today...

Regards
Pete
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JCMPete Feb 21, 2019 12:07pm | Post# 10464

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AudNzd Analysis BigBoss: Strat Shadow negative, Primary Trend down Boss: Strat Shadow negative, Primary Trend down. Last week closed below WCC. This week although not closed yet, price retracing. Worker: Strat Shadow negative, Price in process of retracing towards bottom of WCC and Resistance. Looking for PASR at bottom of WCC Resistance to go short. Regards Pete {image} {image} {image}
Time Gentlemen...

Regards
Pete
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JCMPete Feb 21, 2019 12:18pm | Post# 10465

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{quote} Hi Rub It seems to me that the Big Boss has an executive decision coming up. In the interim the Boss has a confirmed low in place...maybe starting to turn up into the Big Boss medium term up trend? Also Big Boss Strat Shadow is positive...but then as you have pointed out, how much space is there for a trade to develop? It all feels a bit constricted to me at the moment, and as you said price seems to be paused for now, so methinks, lets wait for the Big Boss to show the way. Regards Pete {image} {image}
Decisions...decisions...
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JCMPete Feb 21, 2019 12:38pm | Post# 10466

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I have been struggling with my trading due to constantly scrolling through all time frames and getting totally confused and bogged down. Strat suggested that I pick a time frame and focus on it and only it, maybe one time frame below that one. Thanks very much for the guidance Strat. I have decided to focus on the Daily with some views on H4 and H1. First trade taken on EURNZD Daily time frame yesterday with PA signal of BUEB closing above inside bar high. I set my target at resistance at bottom of the Strat Shadow. I manually closed the trade this...
Hi Terry

Sorry, I only saw your post now just after I posted my follow up post on EurNzd. It is from a BigBoss perspective but I believe it is relevant to your post. I absolutely hear what you are saying as I am battling with the exact same thing. Scrolling through the range of time frames looking, looking, looking just confused the heck out of me as well and I just could not get started. In desperation, I eventually went back to the oldthread and started reading from about page 700 again trying to pick up upon something that was nagging me in the back of my mind...

I eventually did find it and it was an Eureka moment... all roads do lead to Rome, just do not get lost on the side roads!

Sorry I do not have the post number but this is from my notes.

Regards
Pete
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TerryDawe Feb 21, 2019 12:47pm | Post# 10467

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{quote} Time Gentlemen... Regards Pete {image}
Looks like you have your PA signal with today's BEOB which retraced to the shadow. If it closes below the worker IB, that would add some clout to it. Then all a matter of choosing an entry but there doesn't seem to be much room to the downside with all the current support. With only one more day in the trading week, may be wiser to wait until Monday to make a decision.
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TerryDawe Feb 21, 2019 12:58pm | Post# 10468

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{quote} Hi Huatzhi True, and I agree with you. Which is why my comment was that i should have got out the first time that price hit SR but I was hoping for more instead of following the rules. I was very lucky, look what happened today... Regards Pete {image}
Yesterday's worker candle and when dropping to H4 the large bullish candle was yelling something at us.
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JCMPete Feb 21, 2019 1:09pm | Post# 10469

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{quote} Looks like you have your PA signal with today's BEOB which retraced to the shadow. If it closes below the worker IB, that would add some clout to it. Then all a matter of choosing an entry but there doesn't seem to be much room to the downside with all the current support. With only one more day in the trading week, may be wiser to wait until Monday to make a decision. {image} {image}
Just thought of another thing....

I think this is where surfing the time frames does me in...which one??? and each one will have a result....binary...Yes or No...Time Frames and Price...Yes / No /Maybe...

God help the indicator crowd...

Stick to the Road Map Pete! The PASR lamp shows the way! Sorry, self induced pep talk!!

Regards
Pete
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JCMPete Feb 21, 2019 1:42pm | Post# 10470

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{quote} Looks like you have your PA signal with today's BEOB which retraced to the shadow. If it closes below the worker IB, that would add some clout to it. Then all a matter of choosing an entry but there doesn't seem to be much room to the downside with all the current support. With only one more day in the trading week, may be wiser to wait until Monday to make a decision. {image} {image}
Hi Terry

"all a matter of choosing an entry"

Yes, the close of the week will be telling. I have not triggered my trade yet as the daily close have not happened yet either... but we have had a close below the WCC on Boss and Worker has now retraced to the bottom of the WCC. So which way, which Time frame? It is time for a decision...Close of the daily in this case is important but then again, on the 1 hour frame the decision might already be made...

"all a matter of choosing an entry"

I Really, Really want to thank you for posting this reply and I Really, Really invite all input to ansewring (Mis spel intended) this conundrum because I Really, Really believe we will all learn from each other, me probably more than most

To get back to your comments Terry, of which I take note but this is myview not discounting yours...

I am looking at this from a high time frame level:

Big Boss River Red
Boss River Red - WCC rapids negotiated
Worker River Red - Canoeist (is this a word??) maybe turning around to look wtf I just got through...will I go back in...Am I stupid enough to try it again...who knows what adrenalin does...

Or do we continue down the Red River to the targte posted on the left or do I ignore the SR just below...

The close of the candles will tell ... but it is decision time

Once again thanks Terry for sparking this conversation and I invite all to post their views. Let's start a debate! But please , not a Brexit Debate!

Regards
Pete
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Fxentropy Feb 21, 2019 2:27pm | Post# 10471

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Some late trades
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dashurry Feb 21, 2019 2:59pm | Post# 10472

Hi folks, i told myself to start a Journal and read PA and write down what i think of while continuing my journey on PASR.

Do not hesitate to blow some cheap shots, i take them all.

https://docs.google.com/spreadsheets...it?usp=sharing

LuisRicardo Feb 21, 2019 3:15pm | Post# 10473

Hi folks, i told myself to start a Journal and read PA and write down what i think of while continuing my journey on PASR. Do not hesitate to blow some cheap shots, i take them all. https://docs.google.com/spreadsheets...it?usp=sharing

Do not make external links, these may eventually cease to exist and another reader will not know what is being said because there is a broken link.

TerryDawe Feb 21, 2019 3:59pm | Post# 10474

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[quote=JCMPete;12032473]{quote} Hi Terry "all a matter of choosing an entry" Yes, the close of the week will be telling. I have not triggered my trade yet as the daily close have not happened yet either... but we have had a close below the WCC on Boss and Worker has now retraced to the bottom of the WCC. So which way, which Time frame? It is time for a decision...Close of the daily in this case is important but then again, on the 1 hour frame the decision might already be made... I am also looking at this from the top down and even though I provided my opinion and thoughts I would not be looking to trade this pair. One of the lowest volatility ones and even with a sustained move down through all of the support in this area, not really much bang for the buck. The attached chart shows the Boss recent swings and currently we are in a confirmed downswing. Green line is swing low confirmation, red line is swing high confirmation. Price is currently at the confirmed swing low bar close and rejecting it at the moment. I am not including weekly control candles in my analysis.
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Szpons Feb 22, 2019 2:38am | Post# 10475

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Some late trades {image} {image} {image}
Why have you entered long here?

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bistolis Feb 22, 2019 4:03am | Post# 10476

{quote} Why have you entered long here? {image}
There is previous support there . that is his trading style though

Szpons Feb 22, 2019 4:15am | Post# 10477

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{quote} Thank You ""IF"" EW theory holds true I have not used EW in trading. I know the basics, know the R.N. Elliott story, even read a book on it. But never had time to master it. Which positions? There are none shown Sorry, it was deliberate I waited for someone to ask to start a discussion Here they are: 11 Oct -at candle close entry with ETF's 31 Oct - at candle close regular CFD position {image}
I've closed my positon in gold on Wednesday morning. Price was near my 1350 target (determined by Big Boss) and I knew I would not be comfortable with wobbling. It looks It was a good place to end so far...


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Fxentropy Feb 22, 2019 5:37am | Post# 10478

{quote} Why have you entered long here? {image}
look left on your chart to see s/r

Szpons Feb 22, 2019 6:17am | Post# 10479

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{quote} look left on your chart to see s/r
Yes, I see.

Could you explain your trading plan in this particular situation?
Let me dismantle this chart into 3 parts:
1. First entries on NASDAQ are along with M1 trend. Clear and understood
2. Fade in entries at support, no Price reaction yet
3. Entries when price reacts to support zone. Clear and understood

Regarding number 2 trades, how do you proceed? Hard stop? When you decide that support haven't stopped the price and it's time to kill a losing trade?
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Fxentropy Feb 22, 2019 6:48am | Post# 10480

{quote} Yes, I see. Could you explain your trading plan in this particular situation? Let me dismantle this chart into 3 parts: 1. First entries on NASDAQ are along with M1 trend. Clear and understood 2. Fade in entries at support, no Price reaction yet 3. Entries when price reacts to support zone. Clear and understood Regarding number 2 trades, how do you proceed? Hard stop? When you decide that support haven't stopped the price and it's time to kill a losing trade? {image}
When I am trading like in your example no.2 I don't take full positions, as I want to keep adding until I meet a full position and I will trade the bucket of trades as being just one with SL at some moment - depending on the amount of $ I want to risk (or hedge, but I will not explain that here). I was pretty sure that that particular level will hold because there is previous support and also, the time of day favored my trade.
It's low probability setup, and even if I have success on it, I am rarely filled in full position to really matter as $$. But feed my ego, and that's good enough sometimes. Its also fun.


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