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Strat's PASR Long Term, Stress Free Trading

  • #1,941
  • Feb 4, 2018 1:48pm Feb 4, 2018 1:48pm
PASR The Path

Quoting darko2010
{quote} It does a lot, thanks, mainly because I finally feel comfortable looking at charts and making sense of what's happening. I will try my hand at shorter TFs this week, and although it is less easy, it offers multiple practice opportunities compared to the Daily/Weekly Have a great Sunday
Hopefully you will fit this in while you READ, LEARN and UNDERSTAND The Path.
15 YEARS OF PASR ON FOREX FACTORY!
  • #1,942
  • Feb 4, 2018 1:49pm Feb 4, 2018 1:49pm
strat

i am try curruncy streanth and your tempalate chart following day to day scalping but it's this's thread little rule out...i can post here my trade more improving your strategy?need to permission i cant's new thread open this one original...dont's Angry with me

my demo resuilt 3 days

thank you
fx1990
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  • #1,943
  • Feb 4, 2018 1:53pm Feb 4, 2018 1:53pm
Quoting fx1990
strat i am try curruncy streanth and your tempalate chart following day to day scalping but it's this's thread little rule out...i can post here my trade more improving your strategy?need to permission i cant's new thread open this one original...dont's Angry with me my demo resuilt 3 days thank you fx1990 {image} {image} {image} {image} {image}
!?!?!?!?!?!?!?!?!?!?!?!?!?!?!?

GOODBYE!
15 YEARS OF PASR ON FOREX FACTORY!
  • #1,944
  • Feb 4, 2018 1:53pm Feb 4, 2018 1:53pm
[quote=strat;10736734] Since the forex markets are dynamic and constantly changing with regard to many things especially volatility, I no longer use the CLOSE for trend lines or fibonacci and instead use the extremes. Sometimes I will use both when

Strat, thanks very much for your reply, and the links you posted, much appreciated.
I haven't got to the part in the old thread where harmonics are being discussed as yet. I will definitely look into it a bit more.
I see Nicola is now working as a professional, giving analysis etc, looks like crypto currencies are her thing. She's obviously done very well, i always find her old posts clear and informative.
Regarding the elastic band question, i was wondering if there was any merit in taking a chart, and noting down how far from the 20ema price was before it came back.
I was thinking that you could probably work out an average figure, say 350 pips for a pair, which could possibly give you a heads up when price was at that extreme again. Although i dare say, with more experience it would probably be apparent to the eye anyway.

Thanks
  • #1,945
  • Feb 4, 2018 1:58pm Feb 4, 2018 1:58pm
Quoting Giannis95
Hi Strat, I would like to ask you a question because I have confused ideas about a basic concept, ie "confirmed swings". Surely the question has been asked many times, but the answer is not always the same, so I want to ask you: For confirmation of a swing, the OPPOSITE end of the candle must be taken out (exceeded) with a CLOSE or is sufficient the HIGH/LOW? Thank you {image} {image}


I know Strat has already answered you, but these may help, i had them saved from the old thread..

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  • #1,946
  • Feb 4, 2018 2:05pm Feb 4, 2018 2:05pm
PASR

Quoting brody55
Quoting strat
Since the forex markets are dynamic and constantly changing with regard to many things especially volatility, I no longer use the CLOSE for trend lines or fibonacci and instead use the extremes. Sometimes I will use both when Strat, thanks very much for your reply, and the links you posted, much appreciated. I haven't got to the part in the old thread where harmonics are being discussed as yet. I will definitely look into it a bit more. I see Nicola is now working as a professional, giving analysis etc, looks like crypto currencies
...
I see Nicola is now working as a professional, giving analysis etc, looks like crypto currencies are her thing. She's obviously done very well, i always find her old posts clear and informative.

Nicola was (and is) a very good trader and was a great example of how the female trading brain is different from the male version. She left Canada to live with her Mum somewhere in the South of England and teamed up with a manager of a Hedge Fund.

Regarding the elastic band question, i was wondering if there was any merit in taking a chart, and noting down how far from the 20ema price was before it came back.

This question was asked so many times in the old thread and private website. Some members tried to compile data on this but gave up as it was too RANDOM and meaningless. Remember, PRICE moves because of the ACTIONS of human beings (Big Boy traders) who are fickle, inconsistent and unreliable so trying to work that out is like trying to catch snowflakes. In any event it is not needed by the EXPERIENCED PASR trader who is SEEING BEYOND THE CANDLES
15 YEARS OF PASR ON FOREX FACTORY!
  • #1,947
  • Feb 4, 2018 2:08pm Feb 4, 2018 2:08pm
CONFIRMED SWINGS

Quoting brody55
{quote} I know Strat has already answered you, but these may help, i had them saved from the old thread.. {image} {image}
This is TRADERS HELPING TRADERS - thank you brody
15 YEARS OF PASR ON FOREX FACTORY!
  • #1,948
  • Feb 5, 2018 12:13am Feb 5, 2018 12:13am
Alright, I suspect Strat will peg exactly where I am in development as a trader, so here goes.

I started trading with stocks, using a breakout system from an Australian bloke. Been successful at it for the past few years, in that I've not lost money and have made a decent chunk. Shortly after I started that I found forex and messed around with a couple of demo accounts and ended up going live with a small account using a pullback system that relied on stochastics. Aware of risk I did manage my position sizing, but the system called for no stops ( you can see where this is going!). Managed to turn $500 into a little over $5000 in about 3 months, then blew the lot when a trade went against me and never hit the exit conditions before margin call.

Since then I've more of less stuck with pullback type systems, as my post history here shows there was some messing around with different threads. Attempted to teach myself price action and got thoroughly lost before trying a popular method on here and getting pointed to Strat by emmanuel7788.

At the moment my aim is to supplement my income, even if that's proving myself to be profitable for beer tokens.
Currently on page 195 of the old thread, taking my time to bookmark posts, and trying to trade only smack me in the face obvious hammers, shooting stars and outside bars with the overall trend using a small live account risking a McDonalds meal.

I recognize I really only need one or maybe two good trades a month to do well, but suspect I'm missing them, like the recent yen trades, for whatever reason (fear of loss?).
Oh, and have read trading in the zone, but not recently. It's something I remember as being applicable to a lot of life, not just trading. Will read again.

EDIT: Deer dog, speeling is not my stong soot.
  • #1,949
  • Edited Apr 23, 2018 8:33pm Feb 5, 2018 4:11am | Edited Apr 23, 2018 8:33pm
Talking about Trading in the zone , there's probably a link on the the old thread, but here it is..
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  • #1,950
  • Feb 5, 2018 4:18am Feb 5, 2018 4:18am
Quoting strat
CONFIRMED SWINGS {quote} This is TRADERS HELPING TRADERS - thank you brody
Thanks Brody, thanks Strat.

My understanding is, that the swing is confirmed when the CLOSE of following candle ( hasn’t be the next one) has taken out the high/low of the swing candle.

Tried to practise, see chart. (I didn’t mark each swing high or low)

Comments would be appreciated. Thanks.

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  • #1,951
  • Feb 5, 2018 9:06am Feb 5, 2018 9:06am
You seem to have grasped the concept of confirmed swings based on this chart. The next thing you should have a look at is the WCC (Weekly Control Candle).

There is a good explanation of the WCC in Strat's thread.

Regards
Terry
  • #1,952
  • Feb 5, 2018 9:13am Feb 5, 2018 9:13am
Quoting TerryDawe
You seem to have grasped the concept of confirmed swings based on this chart. The next thing you should have a look at is the WCC (Weekly Control Candle). There is a good explanation of the WCC in Strat's thread. Regards Terry
Thanks Terry for your feedback.
WCC: I included that in my charts already. Helps me to trade from support to resistance.
  • #1,953
  • Feb 5, 2018 9:13am Feb 5, 2018 9:13am
[quote=Malu;10742196]{quote} My understanding is, that the swing is confirmed when the CLOSE of following candle ( hasn’t be the next one) has taken out the high/low of the swing candle.

Malu,

Two things, 1) mostly for Strat...In the sentence above within the parenthesis it
says (hasn't be the next candle).
It's my understanding that it does not have to the next candle. That it can be
the first candle that breaks the high-low?

2) Many thanks to you for doing this chart. You spent allot of time on it and I appreciate that.

Thanks

Frank
  • #1,954
  • Feb 5, 2018 9:15am Feb 5, 2018 9:15am
First of day trading using The Path

I won't clutter this thread with all my trades as I clearly overtraded, but I eventually lost a small handful of pips that, given what I finally understood, was worth it. Starting the day at -80 and finishing at -3 and, more importantly, winning by understanding and not by sheer luck is, to me, progress.

I read hundreds of pages over the last few days but the lightbulb went finally on when I started to really observe the candles in real time, understand their rhythm and what the market was showing me. I finally understood what PATIENCE means in this context, what it means to take winners take care of themselves and cut your losses short.

Is this it? No, it's just the start, I feel like I am just starting to understand what I am doing

Thank you Strat, I really mean it. I know this will be a daily challenge from here on but it's a challenge I am finally not taking with dread and apprehension but with calm and serenity, something that evaded me for a long time now
  • #1,955
  • Feb 5, 2018 10:15am Feb 5, 2018 10:15am
Good lad, Rub, nice to see the humour in your posts! More please!

Quoting Rub
Alright, I suspect Strat will peg exactly where I am in development as a trader, so here goes. I started trading with stocks, using a breakout system from an Australian bloke. Been successful at it for the past few years, in that I've not lost money and have made a decent chunk. Shortly after I started that I found forex and messed around with a couple of demo accounts and ended up going live with a small account using a pullback system that relied on stochastics. Aware of risk I did manage my position sizing, but the system called for no stops...
I recognize I really only need one or maybe two good trades a month to do well,

Do NOT compartmentalise yourself like this. This is telling your Little People that you are ONLY interested in trading trends or swings. They will then subconsciously have you trend trade everything you SEE and put you on skid row. To be consistently profitable you need to be able to trade Basic PASR, Swing PASR and Trend PASR. Do NOT, and NEVER, under estimate the POWER of your Little People (subconscious mind).

Keep READING, LEARNING and UNDERSTANDING The Path. Keep practicing and posting

You never explained the significance of ""Rub"
15 YEARS OF PASR ON FOREX FACTORY!
  • #1,956
  • Feb 5, 2018 10:21am Feb 5, 2018 10:21am
CONFIRMED SWINGS

Quoting Malu
{quote} Thanks Brody, thanks Strat. My understanding is, that the swing is confirmed when the CLOSE of following candle ( hasn’t be the next one) has taken out the high/low of the swing candle. Tried to practise, see chart. (I didn’t mark each swing high or low) Comments would be appreciated. Thanks. {image}
Excellent! Well done Pinball Wizard!

Correct. It does not matter where the candle is in the sequence of candles, after an extreme PRICE; ONLY that it must CLOSE above the high/low of the lowest/highest candle. Your chart is a good example. Thank you.

Now YOU have to LEARN how to use CONFIRMED SWINGS!
15 YEARS OF PASR ON FOREX FACTORY!
  • #1,957
  • Feb 5, 2018 10:23am Feb 5, 2018 10:23am
CONFIRMED SWINGS

[quote=Frank0;10743477]
Quoting Malu
{quote} My understanding is, that the swing is confirmed when the CLOSE of following candle ( hasn’t be the next one) has taken out the high/low of the swing candle. Malu, Two things, 1) mostly for Strat...In the sentence above within the parenthesis it says (hasn't be the next candle). It's my understanding that it does not have to the next candle. That it can be the first candle that breaks the high-low? 2) Many thanks to you for doing this chart. You spent allot of time on it and I appreciate that. Thanks Frank
Frank, does my post to Malu answer you? If not post a chart to show me.
15 YEARS OF PASR ON FOREX FACTORY!
  • #1,958
  • Feb 5, 2018 10:28am Feb 5, 2018 10:28am
M5

GBPNZD

Two trades. My 1st trade was at my expense due to a wide spread and pulling my stop in too tight to the 200.

The pink line was drawn using the 15 min if anyone is interested..

I don't revenge trade anymore.

The second entry was as per my plan which was further confirmation of PA of the Shadow and the level which was drawn in after the 1st trade. This gave strong confluence with my trend line, the shadow and the 200.

I exited my second entry early due to other commitments as I don't let them run if I'm not managing them.

I also had a USDCAD which I killed when it came back for a retest for the same reasons as above (just 10 Pips but it went on for another 50..)

Anyway I have some proper time mapped out to trade and learn this month, so let's see..

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Private Msgs are turned off to weirdos, loafs and brain drainers
  • #1,959
  • Feb 5, 2018 10:39am Feb 5, 2018 10:39am
Quoting strat
CONFIRMED SWINGS {quote} Excellent! Well done Pinball Wizard! Correct. It does not matter where the candle is in the sequence of candles, after an extreme PRICE; ONLY that it must CLOSE above the high/low of the lowest/highest candle. Your chart is a good example. Thank you. Now YOU have to LEARN how to use CONFIRMED SWINGS!
Thanks Strat!
Indeed, next step would be to use it profitable.
  • #1,960
  • Feb 5, 2018 10:43am Feb 5, 2018 10:43am
[quote=Frank0;10743477]
Quoting Malu
2) Many thanks to you for doing this chart. You spent allot of time on it and I appreciate that. Thanks Frank
Thanks Frank.
To be honest. I did the example because I wanted to be sure that I am on the right track.
But great if it helped you, too.
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