15 YEARS OF PASR ON FOREX FACTORY!
Strat's PASR Long Term, Stress Free Trading
- #2,741
- Mar 2, 2018 10:27am Mar 2, 2018 10:27am
- Joined Feb 2009 | Status: 15 YEAR PASR THREAD Senior Member | 12,379 Posts
- #2,742
- Mar 2, 2018 10:29am Mar 2, 2018 10:29am
- Joined Aug 2010 | Status: EsikeTrader | 2,227 Posts
Time always comes before price
- #2,744
- Mar 2, 2018 11:46am Mar 2, 2018 11:46am
- Joined Feb 2009 | Status: 15 YEAR PASR THREAD Senior Member | 12,379 Posts
15 YEARS OF PASR ON FOREX FACTORY!
- #2,745
- Mar 2, 2018 12:45pm Mar 2, 2018 12:45pm
- | Joined Feb 2010 | Status: Trading God, Finally! | 140 Posts
samsonwebdes Another regular daily lurker - how can we help?
Kept under the radar (or so I thought) for months!
Greetings from Sunny (snowey at the moment) Sussex in the UK.
Been on the path since December. Read this entire thread by Christmas, got TITZ for Christmas from the wife and read that. In the process of going through the old thread now. Also read this entire thread again in January, just to make sure it sank in. Still not 100% it all has but that's what the path is for, learning.
I have been messing about with FX and stocks, on and off, for nearly 10 years now. Usual story, had some success, also blown up 3 accounts doing my Indianna Jones impression over that time with the Holy grail and since I've ignored everything else and have followed this thread I've put in my first profitable month for many years. It's only 1 month so not counting the chickens but I feel comfortable with PASR, more than anything I've seen over the years.
I actually started on the path in 20014 but work and kids took over and I don't think I got much past 100 pages. It was starting to make sense but I couldn't finish.
When I came back to Forex again last year I forgot all out the thread and it wasn't until you started this new one it all started to come back to me. Even found some old spreadsheets I put together to help with analysis in a folder on my PC!
Anyway, I've been lurking quietly as I've been trying different time frames simultaneously over the past 2 months, using what I have learned so far, trying to see where I fit in to this thread, before I jumped in.
I've had 2 accounts running on different MT4s to see what I liked and how I fared before I concentrated on my final path here.
5 minute was exciting and going well till the little people got hold and then the balance went down. I'm too keen to take profits and can't let them run which has always been my problem. Also I run my own business from home so I can get distracted for 30-60 minutes and it's all gone horribly wrong. so this isn't for me I don't think. Another problem is I'm too trigger happy and 5 minute charts give me way too many targets.
Tried 1 hour too and that is going OK. Made a very slight loss in January and Feb was a small profit. I know where I'm going wrong here I think so will keep on that time frame as it suits me. I can check once an hour from my desk to see what happening and I don't get stopped out constantly like I did on the 5 minute timeframe. I'm getting older and everything needs to slow down!
Daily however is I think where I'm going to lay my hat. I'm up nicely over Feb and have a separate MT4 with an account dedicated to that timeframe. I open it up in the morning and check how it's all going and shut it down again once I've done my analysis and position management. I like the stress free life a lot!
Slower trading means less positions for me and more capital preservation which is what I need right now while learning again.
Anyhoo that's me and I hope to contribute more now. I feel I needed to know what timeframes suit my trading style and I've found that out with the help of this thread.
I may as well go ahead and get my first chart up (if I can figure it out) now you've spotted me.
I took a trade this morning on GBP/USD daily.
Big boss has been creeping up for many months and S/R on my chart are the black lines.
The pair has been in a WCC for the past couple of weeks (red on my chart).
Yesterday ON MY DATA with IG we put in a hammer at the weekly control candle support.
My entry was early this morning. No real movement today but I have my TP and SL on the chart so will let it do it's thing.
Study enough and it all starts looking like the Matrix...
- #2,747
- Edited 2:16pm Mar 2, 2018 1:57pm | Edited 2:16pm
- Joined Feb 2009 | Status: 15 YEAR PASR THREAD Senior Member | 12,379 Posts
15 YEARS OF PASR ON FOREX FACTORY!
- #2,748
- Mar 2, 2018 2:13pm Mar 2, 2018 2:13pm
- Joined Feb 2009 | Status: 15 YEAR PASR THREAD Senior Member | 12,379 Posts
15 YEARS OF PASR ON FOREX FACTORY!
Doing the first Analysis of Dow Jones:
BigBoss: Feb the price went down and then Up, close inside of the Last Candle. The Big wick of Feb tell me that in there still are buyers. S&R Big Black Lines.
Boss: Today ends the 3th Candle Week inside of WCC, Purple Line is the WCC and the Dash Black Lines are S&R of Boss.
Worker: The Worker was going down and then found a Support rejecting the price and today close as a Hammer Candle from Support. Solid Black Small Lines are S&R of Worker.
Co-Worker? H4: Was going down and then in the Support Zone, reject and start going up. With the last 3 candles, confirming the Swing Low.
***********************
As we are inside of the WCC, with the H4 confirmed Swing Low and D1 a Hammer created. At the open market in Suday are a high probability of buy with SL Bellow of the Confirmed Swing Low H4. With the first target of Worker Line Resistance.
************************
HappyTrend waiting for ur comments Strat. Thank you.
Edit: After ur comments im going to post the USDMXN, i want to confirm if im correct. Thank you.
BigBoss: Feb the price went down and then Up, close inside of the Last Candle. The Big wick of Feb tell me that in there still are buyers. S&R Big Black Lines.
Boss: Today ends the 3th Candle Week inside of WCC, Purple Line is the WCC and the Dash Black Lines are S&R of Boss.
Worker: The Worker was going down and then found a Support rejecting the price and today close as a Hammer Candle from Support. Solid Black Small Lines are S&R of Worker.
Co-Worker? H4: Was going down and then in the Support Zone, reject and start going up. With the last 3 candles, confirming the Swing Low.
***********************
As we are inside of the WCC, with the H4 confirmed Swing Low and D1 a Hammer created. At the open market in Suday are a high probability of buy with SL Bellow of the Confirmed Swing Low H4. With the first target of Worker Line Resistance.
************************
HappyTrend waiting for ur comments Strat. Thank you.
Edit: After ur comments im going to post the USDMXN, i want to confirm if im correct. Thank you.
- #2,752
- Mar 2, 2018 5:38pm Mar 2, 2018 5:38pm
- Joined Feb 2009 | Status: 15 YEAR PASR THREAD Senior Member | 12,379 Posts
15 YEARS OF PASR ON FOREX FACTORY!
- #2,753
- Mar 2, 2018 5:45pm Mar 2, 2018 5:45pm
- Joined Feb 2009 | Status: 15 YEAR PASR THREAD Senior Member | 12,379 Posts
15 YEARS OF PASR ON FOREX FACTORY!
USDMXN
BigBoss: Feb Candle was a small candle with top and bottom wicks. Holding Strat Shadow as Support. Is inside candle from Jan Candle and this time end in bullish.
Boss: Just end the 5th candle inside of WCC.
Worker: Price try 2 times to go above of WCC TOP and was rejected. This time, the worker close as Shooting Star at Top of WCC.
Co-Worker: The candle just end with a Confirmed Swing High. at the top of WCC.
************************************
As we are inside of the WCC, Worker ends with a Shooting Star at the top of the WCC and the Co-Worker ends with a confirmed swing high. At the open market is a short position with high probability of the price going down to the Support Resistance in Worker. The SL above of the Confirmed Swing High.
************************************
HappyTrend waiting for ur comments Strat, Thank you!
BigBoss: Feb Candle was a small candle with top and bottom wicks. Holding Strat Shadow as Support. Is inside candle from Jan Candle and this time end in bullish.
Boss: Just end the 5th candle inside of WCC.
Worker: Price try 2 times to go above of WCC TOP and was rejected. This time, the worker close as Shooting Star at Top of WCC.
Co-Worker: The candle just end with a Confirmed Swing High. at the top of WCC.
************************************
As we are inside of the WCC, Worker ends with a Shooting Star at the top of the WCC and the Co-Worker ends with a confirmed swing high. At the open market is a short position with high probability of the price going down to the Support Resistance in Worker. The SL above of the Confirmed Swing High.
************************************
HappyTrend waiting for ur comments Strat, Thank you!
- #2,755
- Mar 2, 2018 8:59pm Mar 2, 2018 8:59pm
- Joined Feb 2009 | Status: 15 YEAR PASR THREAD Senior Member | 12,379 Posts
15 YEARS OF PASR ON FOREX FACTORY!
- #2,757
- Mar 3, 2018 1:40am Mar 3, 2018 1:40am
- | Joined Feb 2010 | Status: Trading God, Finally! | 140 Posts
PASR {quote} You see, its not that painful to join in, is it? got TITZ for Christmas from the wife Your humour fits in here perfectly. since I've ignored everything else and have followed this thread I've put in my first profitable month for many years Congratulations! Pity you didn't post earlier to show us this. I feel comfortable with PASR, more than anything I've seen over the years. Me too! I've had 2 accounts running on different MT4s to see what I liked and how I fared before I concentrated on my final path here. Now that is smart M5 I'm...
I realise now that's not a hammer.
I've looked back on the daily chart on GBP/USD and can't see many hammers at all. They are rarer beasts than the bullish engulfing and outside bars. When they happen though they stick out like a huge sore thumb so lesson learned.
The one highlighted below isn't technically at the bottom of a downtrend and if I'd have entered I'd have stopped out in all likelyhood. But it is a hammer, Maybe Mr Bonds?
Yesterday ON MY DATA with IG we put in a hammer at the weekly control candle support.
No ""we"" didn't! That candle is not even an excuse for a Bond Hammer let alone an ordinary hammer - that is a doji. Go back and learn your candles otherwise you will not be overall profitable with PASR. If you need candlestick stuff, let me know.
Why didn't you drop down to H4 to get a better entry and smaller Stop Loss?
I've not thought of dropping down further than daily to enter as I'm trying to keep that MT4 account to opening once a day, analysing, entering and closing again. If I dropped to H4 I'd have to be looking at it multiple times a day and that's not as stress free as I want with my daily timeframe. I have the H1 account to keep my stress levels a little higher.
I also don't want to remember/think about the daily trades I have on so they don't influence what I see on my H1 trading. As I said H1 is going OK but the daily I think is where I'll make my money in the long run. Timeframes will tell. I may pop in though every now and again once I enter a trade to check how it's going on H4 for the first day. Good advice.
Since PRICE is at support at the bottom of the Weekly Control Candle, the probability of PRICE moving higher is in your favour BUT remembering our Rule # 1, you would be better off sticking your trigger finger where the sun don't shine and WAIT for the Big Boys to show us the way.
As you say I have confluence in the trade of the WCC support and also the bottom of the strat shadow there so will see how it goes. It ended 20 pips in profit at close so will tighten my stop on Sunday night when the market opens and let it do it's thing. Capital preservation is a huge lesson I've learned in the last 3 months and I think why I was profitable on the daily. I cut them short if they went against me. Just need to stop those little people telling me to add trailing stops to my winners so I can let them run...
Study enough and it all starts looking like the Matrix...
- #2,758
- Edited 2:22am Mar 3, 2018 2:04am | Edited 2:22am
- Joined Aug 2017 | Status: Trader | 3,293 Posts
[quote=Rub;10835802]Trying candles for my S/R instead of line chart.
Hi Rub, commenting as a lurker/learner. EURAUD my favourite pair. Agree with your overall conclusions, with slightly different S & R but i see them as zones rather than definitive. Will be looking for a buy opportunity on opening but keen for a sell at 1.61 area...being an extreme high.... subject to price action...of course,
chart is D1 cant show full strat shadow....I use Ctrader
Hi Rub, commenting as a lurker/learner. EURAUD my favourite pair. Agree with your overall conclusions, with slightly different S & R but i see them as zones rather than definitive. Will be looking for a buy opportunity on opening but keen for a sell at 1.61 area...being an extreme high.... subject to price action...of course,
chart is D1 cant show full strat shadow....I use Ctrader
Its all just one persons opinion
- #2,760
- Mar 3, 2018 3:01am Mar 3, 2018 3:01am
- Joined Aug 2017 | Status: Trader | 3,293 Posts
Its all just one persons opinion