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Strat's PASR Long Term, Stress Free Trading

  • #5,321
  • Jun 5, 2018 2:38pm Jun 5, 2018 2:38pm
PASR

Quoting Bestof27
{quote} Thank you for your help I m not trading anything at the moment as I feel a bit lost on the PATH... This is why I m posting ideas (bad for the moment) to get back on track. As Market structure I think you are referring to a coil pattern
I feel a bit lost on the PATH

Don't worry, you are doing good. It is normal to feel this way when the Worker on most pairs is stalling as it finds support/resistance for the next move.

Market Structure on that pair was H - L - LH - LL etc.
15 YEARS OF PASR ON FOREX FACTORY!
  • #5,322
  • Jun 5, 2018 3:39pm Jun 5, 2018 3:39pm
Quoting Bestof27
{quote} Is my view totally wrong ?
It really depends on what your plan is for the trade. If you were targeting last weeks high then maybe you would be right but that isn't how I trade using the Worker and Boss. It just not worth the risk.

I'm looking for the next multi hundred pip swing so I need the market to show me it's hand first. When learning it is a bad habit to look at a chart when you open it up and expect to see a trade to take, this primes your mind to make a decision, good or bad. You have already loaded your gun. The startling thing about this statement is you always do it every time you turn on your monitor, your subconscious is priming you to do something.

I did this last week. I opened up USDCAD, bought into resistance. My mind had already mapped out the PASR levels, stop and take profit before I even knew it on Worker, Boss and Big Boss. It was almost like someone else had taken the trade.

After taking it my friend pointed out that it may work out but was basically sloppy and I should know better.

I'm working on allowing myself to pick trades (even if I'm not seemingly thinking about it). BUT I CONSCIOUSLY CONSIDER THE RISK NOW.

What is my initial risk?
What is the probability of reaching a 2nd entry zone?
What am I going to do to cover my 1st trade?
When am I wrong in the trade?

I'm probably going to get boring on this thread talking about risk but it's become my number 1 trading priority to learn and understand it along with my subconscious and conscious mindset about it all.

Sorry for the long winded reply to answer you.
Private Msgs are turned off to weirdos, loafs and brain drainers
  • #5,323
  • Jun 5, 2018 3:52pm Jun 5, 2018 3:52pm
Risk isn't just about setting 1% stop loss beneath or above a swing or candle.

Risk is also about handling time, handling drawdown, handling smaller profits than anticipated, closing trades early, closing trades late, leveraging over correlated pairs, swap rates, weekends, news...... Confidence, Fear, Greed, Failure, Success.

Managing a small trade into a big trade all depends on working out the road map and then being prepared for that map to be ripped up and spat back at me by the market just when I thought I'd taken the right route.

For me risk is all about doing this again and again and again....
Private Msgs are turned off to weirdos, loafs and brain drainers
  • #5,324
  • Jun 5, 2018 4:40pm Jun 5, 2018 4:40pm
Quoting BeyondTheSea
Risk isn't just about setting 1% stop loss beneath or above a swing or candle. Risk is also about handling time, handling drawdown, handling smaller profits than anticipated, closing trades early, closing trades late, leveraging over correlated pairs, swap rates, weekends, news...... Confidence, Fear, Greed, Failure, Success. Managing a small trade into a big trade all depends on working out the road map and then being prepared for that map to be ripped up and spat back at me by the market just when I thought I'd taken the right route. For me risk...
bravo
  • #5,325
  • Jun 5, 2018 5:30pm Jun 5, 2018 5:30pm
GBPUSD

Quoting Bestof27
{quote} Is my view totally wrong ?
As BTS wrote, it depends what your trade strategy is. If you are after pocket change pips then you will likely get it. If you are after trading the next swing then you will be disappointed.

I suggest you read again my Power of Higher Time Frames and then take another look. Also ask yourself which you prefer - swimming against the current or swimming with the current.

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15 YEARS OF PASR ON FOREX FACTORY!
  • #5,326
  • Jun 5, 2018 5:37pm Jun 5, 2018 5:37pm
RISK

In addition to the excellent posts by BTS, I would add the biggest RISK is ignoring our Rule # 1 followed by taking a trade without a valid PASR Set Up. The remaining RISK then becomes damage limitation.
15 YEARS OF PASR ON FOREX FACTORY!
  • #5,327
  • Jun 5, 2018 7:47pm Jun 5, 2018 7:47pm
Quoting Santoso777
thanks strat.... entry buy on GU because WCC , PASR and strat shadow..... and a bit luck {image}
i don't know am i right or wrong, as i know in H4 break strat shadow, D1 BUOB, W1 WCC and a bit lucky...
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  • #5,328
  • Jun 5, 2018 9:50pm Jun 5, 2018 9:50pm
AUDUSD
After some feedback on my analysis if someone wouldn't mind.
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  • #5,329
  • Jun 5, 2018 10:39pm Jun 5, 2018 10:39pm
Quoting Santoso777
{quote} i don't know am i right or wrong, as i know in H4 break strat shadow, D1 BUOB, W1 WCC and a bit lucky... {image}
You really love counter trend trading eh..
  • #5,330
  • Jun 6, 2018 12:55am Jun 6, 2018 12:55am
Quoting MikuSS
{quote} You really love counter trend trading eh..
not really.... i follow the trend and only i am sure with the risk, i will counter trend, yesterday floating -60 pips
but because this long term trading, i think SL 50-100 pips is reasonable with target 100-200 pips
  • #5,331
  • Edited 3:40am Jun 6, 2018 1:44am | Edited 3:40am
Quoting fxlrich
AUDUSD After some feedback on my analysis if someone wouldn't mind. {image} {image} {image}
Hi fxlrich,

here my thoughts on your analysis:

BB: although the Strat shadow is red, I see HH and HL. Price moves up in small steps in this picture.
B: I see that the swing low was confirmed with the candle last week (in my charts), so it looks like price is on an upswing at the moment. Maybe it stops at resistance but maybe not.
W: I see the same resistance level than you. I would wait if price closes above that level.

So my conclusion would be that (if I would trade that pair) I would rather start building a long position (waiting for PASR) WHEN you are trading the swings.
  • #5,332
  • Jun 6, 2018 2:53am Jun 6, 2018 2:53am
Quoting fxlrich
AUDUSD After some feedback on my analysis if someone wouldn't mind. {image} {image} {image}
I see it as having been ranging in a ~600 pip range for the last year, and currently hanging around the bottom of that range. Worker has made some higher lows, BUT it is just shy of a resistance level.

Your boss trendline seems to have been drawn screwy too, I would have drawn it from the high left of where you have started it. As shown. However everyone is different and sees things differently.
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  • #5,333
  • Jun 6, 2018 2:54am Jun 6, 2018 2:54am
Quoting Malu
{quote} Hi fxlrich, here my thoughts on your analysis: BB: although the Strat shadow is red, is see HH and HL. Price moves up in small steps in this picture. B: I see that the swing low was confirmed with the candle last week (in my charts), so it looks like price is on an upswing at the moment. Maybe it stops at resistance but maybe not. W: I see the same resistance level than you. I would wait if price closes above that level. So my conclusion would be that (if I would trade that pair) I would rather start building a long position (waiting for...
For me

BB is ranging between 0.75 and 0.8, and starting a swing up
B is up from 0.75 support, but reaching 0.767 resistance
so I would wait to see what happen at 0.767 level.
I m thinking long too
  • #5,334
  • Jun 6, 2018 3:43am Jun 6, 2018 3:43am
Good morning

I just had a SL on EUR USD.
I had bought after bullish engulfment.
I did not see any near resistance. On H4 I saw the next to 1.18-1.1830
buying pressure on the euro.
Too enthusiastic?
My entry is correct?

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the next opportunity ^^
  • #5,335
  • Jun 6, 2018 3:55am Jun 6, 2018 3:55am
Quoting fleurdelys
Good morning I just had a SL on EUR USD. I had bought after bullish engulfment. I did not see any near resistance. On H4 I saw the next to 1.18-1.1830 buying pressure on the euro. Too enthusiastic? My entry is correct? {image} the next opportunity ^^
This is the cost for doing business. Our Lady, keep working hard and never give up.


Happy Trading,
Yomi.
Time always comes before price
  • #5,336
  • Jun 6, 2018 3:57am Jun 6, 2018 3:57am
Quoting fleurdelys
Good morning I just had a SL on EUR USD. I had bought after bullish engulfment. I did not see any near resistance. On H4 I saw the next to 1.18-1.1830 buying pressure on the euro. Too enthusiastic? My entry is correct? {image} the next opportunity ^^
Your entry is correct, but:
1. The 30 pip move at 9am CET is something I generally don't like and it fades away most of the time
2. Had I taken it anyway, I would have been placed my SL with regards to the main swing that started at 9am CET (below 1.1713), not below the micro-wiggle on which you entered. Obviously, this is a very different R:R and that's why I didn't touch it as far as I am concerned
  • #5,337
  • Jun 6, 2018 3:58am Jun 6, 2018 3:58am
Quoting fleurdelys
Good morning I just had a SL on EUR USD. I had bought after bullish engulfment. I did not see any near resistance. On H4 I saw the next to 1.18-1.1830 buying pressure on the euro. Too enthusiastic? My entry is correct? {image} the next opportunity ^^
I think the bearish doji looking candle 2nd after the entry was a good sign to get out. But I can't seem to get a handle on the 5minuite stuff so take it with a grain of salt!
  • #5,338
  • Jun 6, 2018 4:07am Jun 6, 2018 4:07am
Quoting Rub
{quote} I think the bearish doji looking candle 2nd after the entry was a good sign to get out. But I can't seem to get a handle on the 5minuite stuff so take it with a grain of salt!
If I may Rub, a single candle on M5 doesn't mean anything unless it is being considered in confluence with other data. I believe EURUSD will go up but FleurdeLys was just too eager to enter and not patient enough to stay, which is fine if this is her R:R strategy. Look how price has stabilized with regards to the Strat shadow which also happens to be the 50% fib on the main M5 swing
  • #5,339
  • Jun 6, 2018 4:20am Jun 6, 2018 4:20am
Quoting fleurdelys
Good morning I just had a SL on EUR USD. I had bought after bullish engulfment. I did not see any near resistance. On H4 I saw the next to 1.18-1.1830 buying pressure on the euro. Too enthusiastic? My entry is correct? {image} the next opportunity ^^
Good morning fleur,
After more than month of reading and understanding both threads I would like to start contributing to this amazing family of progressive traders if Strat let me

Little introducing myself:
I am man from Czech republic ( middle Europe) working in industry, trading is for me hobby and passion mostly, I tried a lot of ways of trading (indicators too) but mostly returned to pure price action. I like traveling and stuff around that so if you want some info about my country donīt hesitate to pm me

Because I have full time job and I have also small bussiness, trading Daily TF is my thing mostly, but if I have time a really like observing one eye monster.

I would like to thank STRAT and all contributors for these amazing threads, it is miracle that something like this could be for free in these days of guruīs and proffesional trading teachers.

So, here are my comments about your trade hope it helps (because picture is more than thousand words)

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  • #5,340
  • Jun 6, 2018 4:39am Jun 6, 2018 4:39am
Thank you all.

Indeed I was impatient ... especially with such a dynamic opening!
I always take a very tight stop. I like doing it, because if I just I can have nice ratios.(without waiting very long)

I re-bought EUR USD seeing the hammer, and a more pronounced retracement.
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My ratio is 3 this time. (so ratio +2 with my loss this morning)

It's true that I have small stops. Maybe too small. But when the price goes in my direction, I quickly catch up with my losses. I find that powerful. (but hard sometimes!)
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