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Strat's PASR Long Term, Stress Free Trading

  • #1,021
  • Nov 29, 2017 7:01am Nov 29, 2017 7:01am
I started trading Litecoin (Cryptocurrency) since last week. The Big Boss and Boss are in uptrend at uncharted territory.
The Worker also in uptrend.

I noticed that the 72 ema has provided strong support to the uptrend in the M30 timeframe. This shows the power of the Strat Shadow.
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  • #1,022
  • Nov 29, 2017 7:03am Nov 29, 2017 7:03am
Ha Ha! Finally I posted the charts successfully.
  • #1,023
  • Nov 29, 2017 8:24am Nov 29, 2017 8:24am
EURNZD
Loved this pair.After London 65+pips oppurtunity.
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  • #1,024
  • Nov 29, 2017 8:25am Nov 29, 2017 8:25am
GBPAUD
Closed 27pips.
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  • #1,025
  • Nov 29, 2017 9:34am Nov 29, 2017 9:34am
CADJPY

Quoting brody55
I've got a few questions, Strat I hope you don't mind..you told me not to post analysis, so this is not analysis, but I'll post the charts to highlight my question..# I have no ego, and don't mind a straight answer , i'm here to learn...but all I see is people posting charts showing pips galore..i can't be the only one struggling, surely?? RE the cad /yen taken by our friend Beyond the sea.. On my chart I had a WCC...was this wrong?? if so, I need to go back and revisit the posts..my understanding was that this would show areas of consolidation.....
but all I see is people posting charts showing pips galore

This is your first mistake - IGNORE what other people are doing - you can't CONTROL them - instead, FOCUS on what YOU can CONTROL - YOU!

With regard to CADJPY - your question is better directed to BeyondTheSea - we are all INDIVIDUAL traders each with different styles although trading the same method/strategy. For all you know, he may not know what a WCC is and therefore ignored it.

You seem to be FIXATED on the Weekly Control Candle and letting it govern your analysis - so re - Read, Learn and UNDERSTAND all my posts on the Weekly Control Candle.

Then, FORGET about the Weekly Control Candle and FOCUS on BASIC PASR and LEARN how to trade with PASR

I feel like i'm going backwards..

This is all part of the LEARNING CURVE - you will feel this many, many times and it happens/happened to all of us. This is where your PERSEVERANCE and DETERMINATION are tested. Many give up at this point and go back to indicators and thread hopping in search for the Holy Grail and end up disappearing up their own chuff.
15 YEARS OF PASR ON FOREX FACTORY!
  • #1,026
  • Nov 29, 2017 9:40am Nov 29, 2017 9:40am
Quoting trogger
{quote} Ah, those were the days my friend: https://www.youtube.com/watch?v=BBHTmww3a-Y
How did you know Leeds United were the team I supported before moving over here?
15 YEARS OF PASR ON FOREX FACTORY!
  • #1,027
  • Edited 9:57am Nov 29, 2017 9:46am | Edited 9:57am
EURCAD

Quoting trogger
{quote} 1. As it is not my thread, I don't usually comment on others trades, but this is a trade I am in myself and was going to post anyway. 2. Your charts look good to me and I note that you start with the higher order time frames - that is a big positive for me to start! 3. Your decision to place an entry based on a sell stop should price drop below the SS on the worker is the disciplined approach - and, as such, I think Strat would approve of your entry method? [ Hopefully Strat will comment] However, 4. Is it really a shooting star? If so,...
As it is not my thread, I don't usually comment on others trades

It might not be your thread, Wild Thing BUT it is YOUR trading home so please, feel FREE to comment at any time.

I agree with EVERYTHING you have posted - its almost like reading my own posts. Thank you.
15 YEARS OF PASR ON FOREX FACTORY!
  • #1,028
  • Nov 29, 2017 9:48am Nov 29, 2017 9:48am
Quoting Corinna
Ha Ha! Finally I posted the charts successfully.
It was worth waiting for - such a clever girl!
15 YEARS OF PASR ON FOREX FACTORY!
  • #1,029
  • Nov 29, 2017 9:56am Nov 29, 2017 9:56am
PASR

Quoting saad007
GBPAUD Closed 27pips. {image}
Keep trading as many opportunities that you SEE - the more you do it, the better you become. Seems to me you need to be LEARNING how to read BEYOND THE CANDLES - read all my posts on this.
15 YEARS OF PASR ON FOREX FACTORY!
  • #1,030
  • Nov 29, 2017 11:27am Nov 29, 2017 11:27am
Quoting strat
CADJPY {quote} but all I see is people posting charts showing pips galore This is your first mistake - IGNORE what other people are doing - you can't CONTROL them - instead, FOCUS on what YOU can CONTROL - YOU! With regard to CADJPY - your question is better directed to BeyondTheSea - we are all INDIVIDUAL traders each with different styles although trading the same method/strategy. For all you know, he may not know what a WCC is and therefore ignored it. You seem to be FIXATED on the Weekly Control Candle and letting it govern your analysis - so...
Hi Brody55 and Strat. All I can say is I looked at the chart, plotted my levels on Big Boss, Boss and Worker. I looked at the WCC and thought hmm.. should that stop me taking a trade when to me it appears to have previously been tested and now momentum is showing me the way. I looked again at Big Boss, Boss and Worker, saw where my stop was going to go and the support level down which had a good risk reward take profit area and took the trade. To be honest I didn't really think about the WCC too much because the levels, 3 time frames and price just made me do it. To me the WCC seemed marginal and was trumped by those other factors because of what was happening right then. (And then the little men came along which is another story but I'm talking to them now... )
Private Msgs are turned off to weirdos, loafs and brain drainers
  • #1,031
  • Nov 29, 2017 12:06pm Nov 29, 2017 12:06pm
Currently at 25% (pg 269) of the old thread. Some (lots) very good stuff there. Will check in again at the half way point. Most should take the time and read that thread.
Mark ... Everything you have been told is a LIE
  • #1,032
  • Nov 29, 2017 12:18pm Nov 29, 2017 12:18pm
PASR

Quoting spzd
Currently at 25% (pg 269) of the old thread. Some (lots) very good stuff there. Will check in again at the half way point. Most should take the time and read that thread.
Good lad, keep going
15 YEARS OF PASR ON FOREX FACTORY!
  • #1,033
  • Nov 29, 2017 12:21pm Nov 29, 2017 12:21pm
PASR

Quoting BeyondTheSea
{quote} Hi Brody55 and Strat. All I can say is I looked at the chart, plotted my levels on Big Boss, Boss and Worker. I looked at the WCC and thought hmm.. should that stop me taking a trade when to me it appears to have previously been tested and now momentum is showing me the way. I looked again at Big Boss, Boss and Worker, saw where my stop was going to go and the support level down which had a good risk reward take profit area and took the trade. To be honest I didn't really think about the...
And that is EXACTLY what PASR is all about. Just SEE it and DO it - NO OVERTHINKING or paralysis from analysis.

Now, If I were a carpenter and you were a lady....................................
15 YEARS OF PASR ON FOREX FACTORY!
  • #1,034
  • Nov 29, 2017 4:26pm Nov 29, 2017 4:26pm
GBPNZD

So far, a 1,720 pip trend easily, conservatively and stress free tradable with PASR to produce 2651 pips.

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15 YEARS OF PASR ON FOREX FACTORY!
  • #1,035
  • Nov 29, 2017 8:08pm Nov 29, 2017 8:08pm
Quoting trogger
{quote} 1. As it is not my thread, I don't usually comment on others trades, but this is a trade I am in myself and was going to post anyway. 2. Your charts look good to me and I note that you start with the higher order time frames - that is a big positive for me to start! 3. Your decision to place an entry based on a sell stop should price drop below the SS on the worker is the disciplined approach - and, as such, I think Strat would approve of your entry method? [ Hopefully Strat will comment] However, 4. Is it really a shooting star? If so,...
Hey Trogger,

Just got back from work so I can answer your questions

4. Is it really a shooting star? If so, as SS goes, how would you rate the quality of this one?

I don't have a rating system as far as these SS and Hammers go. Probably a good idea to have one of my own. This one in particular, I would rate as a 6/10 or 'good'. the upper wick is about exactly 2x the length of the body (more upper wick would be better), there is a bit more lower wick than I'd like, and having the red body is a slightly better sign for bearish implications.

5. I assume that you have noted the direction of price on the three higher order time frames: Big Boss, Boss and worker? Are they "up"? Is a short now with the Trend or is it Counter-trend?

Big Boss: short term direction is currently 'up', however is approaching resistance from Feb. 2014.
Boss: Boss is currently 'up' and is approaching, at the moment, surpassing the resistance line I drew.
Worker: 'up' with many obvious higher lows
A short now is not with the trend and I wasn't thinking it would be a counter-trend either, but possibly the start of a new downward trend because of the resistance and SS.

6. In the event that this drops initially to trigger your entry and THEN decides to probe higher, what is your plan?

My stop loss is just above the high of the SS. I would get out there if the trade went against me.

7. When you say "with targets at support levels" you use plural. So, assuming you will obey strict Money Management rules with respect to total position size, how many positions will you put on and which support levels will you exit at?

I put 3 sell stops (demo of course) 10 pips below the low of the SS. First exit is at the next daily support (around 1.5000), next at 1.475 and the last TP is at a resistance level where PA tells me there is a good possibility it's headed in the other direction.

8. How many times has price tested this resistance?

I'll base this off the weekly chart since that's where I first noticed the resistance. My charts go back to 2000, and I can see that it's been tested about 10 times from what I see (I'm sure this number will differ from person to person, but this price area has definitely been tested a good number of times)

Well, it never hit my sell stop, so I deleted my orders. I'll be waiting to see what price does next.
  • #1,036
  • Nov 29, 2017 9:48pm Nov 29, 2017 9:48pm
Quoting strat
PASR {quote} And that is EXACTLY what PASR is all about. Just SEE it and DO it - NO OVERTHINKING or paralysis from analysis. Now, If I were a carpenter and you were a lady....................................
I don't know a lot about pasr, but I do know that's a great song!
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  • #1,037
  • Nov 29, 2017 10:19pm Nov 29, 2017 10:19pm
Quoting strat
GBPNZD So far, a 1,720 pip trend easily, conservatively and stress free tradable with PASR to produce 2651 pips. {image}
My next profit target is the round number of 2.0000.
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  • #1,038
  • Nov 30, 2017 2:16am Nov 30, 2017 2:16am
AUD/NZD

This is a pair that I have pretty much only been taking longs on since approx start of 2014. (Sure, took the odd short off the peaks, but certainly haven't held a short since Jan 2014.)

Anyone who followed my posts on the old thread will know that from approx June through to end September this year I had a large number of open positions and cleared all but perhaps 20% of the total open positions once the dust settled after the NZ general parliamentary elections. (The election result appears to have surprised some in the market!).

I see that Strat ranks this one pretty low down on his volatility list and I too decided trade opportunities were very limited post the Election, pretty much ignoring it - just allowing it to drift until I see further trading opportunity. That happened yesterday Nov 29) when I spotted the bar of 28 November showing "Hammer-like" rejection of 1.0950 (a level of previous support/resistance), so added 2 small longs (red arrow) with TP set for 100 and 200 pips.

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The first position closed out quickly overnight. The second is in play. may or may not hit TP -either way I'm happy. I'm happy because I have a plan- and I am trading the plan!
  • #1,039
  • Nov 30, 2017 3:13am Nov 30, 2017 3:13am
Would have + should have + could have = IDIOT!!!

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Should have been a beauty, all my levels were in....

My 4HR TP target was there...

got stopped out for 25 (by 5 pips). Completely my error for not placing my stop below the support level.

Just look at the power of PASR, though!!!

Live and learn every damn day!
Private Msgs are turned off to weirdos, loafs and brain drainers
  • #1,040
  • Nov 30, 2017 6:44am Nov 30, 2017 6:44am
Quoting BeyondTheSea
Would have + should have + could have = IDIOT!!! {image} Should have been a beauty, all my levels were in.... My 4HR TP target was there... got stopped out for 25 (by 5 pips). Completely my error for not placing my stop below the support level. Just look at the power of PASR, though!!! Live and learn every damn day!
Do you know that your way of thinking show signs of confirmation bias? My advice would be to find what does it mean and why it is not good for you

On the very graph you show and praise, you would be stop out 4 more times, as attached. And those 4 times come from a fact that your "barrier" or effective stop levels are very wide. With narrower "barrier", you would be stopped out more like 8-10 times. In fact, on that very graph, you could forget about any psar-based stops, you could choose either previous major pivot or in fact any larger stop level (like 50p or 100p) and you would get much better result

On top of that, you show a period with clearly trending market. Show period with ranging or volatile market and count your stop losses there

Or even better show 1000 different periods and build conclusion based on that. You make conclusions about "power of psar" based on several setups on one trending graph?

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