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Strat's PASR Long Term, Stress Free Trading

  • #2,801
  • Mar 4, 2018 10:35pm Mar 4, 2018 10:35pm
Strat post 2784 did help, that's been very similar to how I've been working, although I've been putting in more levels. Something must be getting through. Guess you've found the right size hammer!
I've been mulling over your previous comment about jumping in too, definitely something in that when I go back and look at my history. Being aware of it should help.

The various posts about logic resonated with me too, my studies were toward the engineering side and I've always been a very concrete 1 then 2 then 3 etc. sort of thinker.
  • #2,802
  • Mar 5, 2018 2:29am Mar 5, 2018 2:29am
I watched the market all morning, and, surprisingly, I stopped looking at potential trades as opportunities I needed to take to start looking at the ones I wanted to take. To me, this is a huge psychological change.

I looked through different timeframes, anywhere from 5M to the daily through 15 pairs. The one pair where the risk seemed acceptable to me was GU H1 (BUEB and BUOB) as we were at the bottom of the WCC. I took a trade for the first time in a long time without fear, I didn't take it for greed or fear, but because the market shows me where it wants to go.
My first objective is the resistance on H1, I will see if I can get my little people in check to only take 50% profit at this level and aim for H4 resistance.

One thing I must mention is how, suddenly, the world slows down when you control your emotions. No more need to rush into a trade, the comfort of having the wind on your back changes your own pace. Planning the trade and the time it takes rewards a million-fold rather than try to catch a lousy setup.

Thank you Strat, this is a small word to capture my gratitude
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  • #2,803
  • Mar 5, 2018 3:15am Mar 5, 2018 3:15am
Quoting strat
PASR {quote} I'll wait for price action or my ???????? to to get me out. What will get you out samson....Delilah?
Sorry was typing that on my ipad and fat fingers don't always work!
TP is what should have been there. Price action or my TP will get me out of a trade.
Study enough and it all starts looking like the Matrix...
  • #2,804
  • Edited 6:20am Mar 5, 2018 5:56am | Edited 6:20am
GBPCAD M5 PASR Trend Trading:


Doing my thing by JUMPING in at the MOVING HARD RIGHT EDGE with 75.6pips of Stress Free Trading.
Jumping in will be easy, once you can identify/recognise the "MOVING HARD RIGHT EDGE" - Strat.


1. 1st TP = 25.6pips.

2. 2nd TP = 50pips.



Happy Trading,
Yomi.
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Time always comes before price
  • #2,805
  • Mar 5, 2018 8:00am Mar 5, 2018 8:00am
NZDUSD

Quoting Frank0
Strat. Somewhere on one of your 2 threads you have a hand bill of Buddy Holly's where he was playing Clear Lake Iowa. Shortly before I was drafted in 1950, I worked Clear Lake with the Chuck Eddy Band. We came out of Minneapolis one man short in the sax section. Our pickup man came to us in a wheelchair. Not really an inspiring sight. I walked out on the bandstand and was confronted with largest room we had played. Thinking about our "new" section and the sound they had to create was a little scary. I played at the piano my tuneup fsharp and could...
Thanks for the memorabilia, Frank. This timeline must put you around 86 - a senior senior!
Did you ever see or meet the great man?

1. First PASR where three legs of the shadow are up and in harmony. BUOB took rising boss and daily as well as 0.6973 support line.

Yes, PASR traders would enter here. More aggressive traders would have entered on the green candle 6 candles earlier. But (1) gives us a smaller Stop Loss.

2. Bueb of doji the day before Christmas. no trading on Christmas.

So we would have entered a buy stop above this candle

3. BUOB and took support at 0.7065.

Yes, an add on

4. BUOB and support at 0.7161.

Yes, an add on

5. Bar wick is rejected by 2 Resistance lines as are the next 3 bars. Close to Dr Joe's get out BUT Daily Shadow still up.

This is a long legged doji telling us that PRICE is in balance/equilibrium meaning that the buyers were taking a rest and the sellers were not interested in selling at this PRICE. A pause in a strong up (down) trend is usually, but not always, an opportunity to ADD ON.

6. Bar wick is rejected by 2 higher resistance lines.

Yes. This is a very important candle for PASR traders. This tells us that the buyers had a big push up to resistance where the sellers could not accept higher PRICES so the sellers started selling to take PRICE back down.

7. Daily shadow turns down signifying exit.

While it is good to ""SEE"" this, it is of no use for actual trade entries/exits as it LAGS too far behind PRICE. It does however tell us of the buyers losing their momentum and interest.

What happens after candle 6 is an attempt by the buyers to take PRICE back up to the previous resistance so that they can take profit.

The next double top put in by a Shooting Star like candle is made by all those buyers who missed out on taking profit at resistance earlier. They drive PRICE back up to those levels where the earlier buyers took profit (resistance). After taking profit, they are no longer interested in buying and hand PRICE over to the sellers. The sellers are not really selling in strength as they are probably wary of buyers coming back in. PRICE falls due to gradual selling AND because there is no buying leaving PRICE to fall (as if by gravity).

Thanks for posting for analysis.
15 YEARS OF PASR ON FOREX FACTORY!
  • #2,806
  • Mar 5, 2018 8:13am Mar 5, 2018 8:13am
Trading Psychology

Quoting samsonwebdes
{quote} Read anď understood Strat. I'm trying to be consistently profitable but on too short a timeframe. It's the doubt of being right at this stage I think. Going to read everything glider sent me this week. I've just looked at some of the daily trades and hourlies I've taken in the last few weeks and dragged them onto my chart. Incredible amount of pips on the table. Plan the trade and trade the plan. If I'd have held some of my dailies for another week I'd have been 5:1 on many of them. Monthly p&l for me from now on and I'm not going to...
It's the doubt of being right at this stage I think.

GET RID OF THINKING LIKE THIS!

Who CARES whether you are right or wrong? The Market doesn't!

Follow and apply PASR strategy and FORGET whether you are right or wrong. You either BELIEVE in YOU and your CONFIDENCE in PASR or you don't

The only things that matter are PROFIT, LOSS and RULE 1

As an example you could be ""wrong" and STILL BE IN PROFIT!

Too much thinking, samson - spend more time DOING!
15 YEARS OF PASR ON FOREX FACTORY!
  • #2,807
  • Edited 9:03am Mar 5, 2018 8:34am | Edited 9:03am
GBPUSD

Quoting darko2010
I watched the market all morning, and, surprisingly, I stopped looking at potential trades as opportunities I needed to take to start looking at the ones I wanted to take. To me, this is a huge psychological change. I looked through different timeframes, anywhere from 5M to the daily through 15 pairs. The one pair where the risk seemed acceptable to me was GU H1 (BUEB and BUOB) as we were at the bottom of the WCC. I took a trade for the first time in a long time without fear, I didn't take it for greed or fear, but because the market shows me where...
Finally darko! Look at where you are NOW compared to when you first came here, wet behind the ears and jumped in with both feet in a pool filled with sharks.

Now, let's see if your DISCIPLINE can keep you on The Path
15 YEARS OF PASR ON FOREX FACTORY!
  • #2,808
  • Mar 5, 2018 8:36am Mar 5, 2018 8:36am
GBPCAD M5 PASR Trend Trading 75 pips STRESS FREE

Quoting fxrabbi
GBPCAD M5 PASR Trend Trading: Doing my thing by JUMPING in at the MOVING HARD RIGHT EDGE with 75.6pips of Stress Free Trading. Jumping in will be easy, once you can identify/recognise the "MOVING HARD RIGHT EDGE" - Strat. 1. 1st TP = 25.6pips. 2. 2nd TP = 50pips. Happy Trading, Yomi. {image}
You make "Doing your thing" look so easy, Yomi! Keep on "Doing" and posting
15 YEARS OF PASR ON FOREX FACTORY!
  • #2,809
  • Mar 5, 2018 8:57am Mar 5, 2018 8:57am
Quoting strat
GBPUSD {quote} Now, let's see if your DISCIPLINE can keep you on The Path
Thanks Strat, discipline is absolutely and without doubt where I need to improve.

On larger TFs, some SLs lead to reducing significantly the initial position for good MM, which in turn seem sub-optimal if you want to live from your trading (not that I need to pay my dinner with the day's profits). Add-ons after an initial entry are an option, but I feel so far from that level yet.

I don't know how to tackle that, both fear and greed seem to push for smaller TFs and I am fighting my demons to try and stay on higher TFs. I guess it has to be a mix, not a function of my will but what PASR tells me I should consider. Some trades will be M5, others will be on the Worker, as in a diversified portfolio. Am I correct with this approach the same way you have your LT positions and your ATM trades?
  • #2,810
  • Mar 5, 2018 9:17am Mar 5, 2018 9:17am
PASR

Quoting darko2010
{quote} Thanks Strat, discipline is absolutely and without doubt where I need to improve. On larger TFs, some SLs lead to reducing significantly the initial position for good MM, which in turn seem sub-optimal if you want to live from your trading (not that I need to pay my dinner with the day's profits). Add-ons after an initial entry are an option, but I feel so far from that level yet. I don't know how to tackle that, both fear and greed seem to push for smaller TFs and I am fighting my demons to try and stay on higher TFs. I guess it has to...
On larger TFs, some SLs lead to reducing significantly the initial position for good MM

Which is why we drop down to a shorter time frame for entry and stop loss.

Add-ons after an initial entry are an option, but I feel so far from that level yet.

Correct, you are still crawling

Am I correct with this approach the same way you have your LT positions and your ATM trades?

Absolutely not! From what you have written "Some trades will be M5, others will be on the Worker", you are trying to eat the elephant in one bite. Slow down and smell the pips! The Path teaches you to start and MASTER Basic PASR. Once you are consistently profitable using Basic PASR, The Path teaches you to start and MASTER Swing Trading PASR.

You are trying to do, IN ONE MONTH, what other successful and consistently profitable traders have taken around 3 years to do.
15 YEARS OF PASR ON FOREX FACTORY!
  • #2,811
  • Mar 5, 2018 9:33am Mar 5, 2018 9:33am
Hi strat and other valuable contriboturs here, i have started to read thred week ago and i keep reading did you take in consideration these trade? Thanc you for your effort
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  • #2,812
  • Mar 5, 2018 9:35am Mar 5, 2018 9:35am
Quoting strat
PASR {quote} On larger TFs, some SLs lead to reducing significantly the initial position for good MM Which is why we drop down to a shorter time frame for entry and stop loss. Add-ons after an initial entry are an option, but I feel so far from that level yet. Correct, you are still crawling Am I correct with this approach the same way you have your LT positions and your ATM trades? Absolutely not! From what you have written "Some trades will be M5, others will be on the Worker", you are trying to eat the elephant in one bite. Slow down and smell...

Yes im going only to trade the initial position and just draw with arrows where probably i make an add on. But not yet.
  • #2,813
  • Mar 5, 2018 9:41am Mar 5, 2018 9:41am
Quoting strat
PASR {quote} On larger TFs, some SLs lead to reducing significantly the initial position for good MM Which is why we drop down to a shorter time frame for entry and stop loss. Add-ons after an initial entry are an option, but I feel so far from that level yet. Correct, you are still crawling Am I correct with this approach the same way you have your LT positions and your ATM trades? Absolutely not! From what you have written "Some trades will be M5, others will be on the Worker", you are trying to eat the elephant in one bite. Slow down and smell...
Understood Strat, but it seems to me that I am mixing up basic and swing PASR, hence probably my question. I will try and clarify this in my head through more work.
  • #2,814
  • Mar 5, 2018 9:51am Mar 5, 2018 9:51am
Quoting strat
GBPCAD M5 PASR Trend Trading 75 pips STRESS FREE {quote} You make "Doing your thing" look so easy, Yomi! Keep on "Doing" and posting
Thanks to the PASR Trend Trading Strategy.....
Time always comes before price
  • #2,815
  • Mar 5, 2018 10:14am Mar 5, 2018 10:14am
EURNZD M15

Quoting Sky100
Hi strat and other valuable contributors here, i have started to read thread week ago and i keep reading did you take in consideration these trade? Thank you for your effort {image}
No! PASR traders do not take trades where the RISK is greater than the reward
15 YEARS OF PASR ON FOREX FACTORY!
  • #2,816
  • Mar 5, 2018 12:31pm Mar 5, 2018 12:31pm
Quoting strat
{quote} This system can be tradeable in all timeframe charts, but lower TF is more complicate because the space between the swings are more small... and is more faster to take a decision. PASR can be traded on any time frame from ticks to multi-year. You must not have read my M1 Boot Camp where I traded M1 live. Your Daily Candle at what time close? My candles and all PASR traders' candles CLOSE at 5pm New York (EST)

BTW im fixing my charts for the candles start Sunday 5pm est - Monday 5pm est , etc.. etc..

I have all the day watching the charts without sense because my trade is already in there... well studyng.

Daily im going to make analysis for Dow Jones, USDMXN and EURJPY (or can u recommend other Pair?, i know that you check the ATR list and pick from it. But this 3th Pair i want to trade it for study. Already got Dow Jones and USDMXN that moves fast.) Thank you.
  • #2,817
  • Mar 5, 2018 1:07pm Mar 5, 2018 1:07pm
Thanks for the encouragement Strat .I appreciate your time and effort trying to educate an ordinary five eight like me who is making his fourth venture into forex over a ten year period.
This time I have made a decision to try and learn for myself. I have spent a fair bit on the shovels from the many suppliers.
Since I am approaching my third twenty first, I hope there is still time.
I have been taking loads of trades on the 5 min and probably know the setups are not the best, but I feel when I am in a trade I am more focused on how the candles play out and this is something that needs to be embedded in this brain of mine.Struggling a bit with the S & R lines at times but feel things are improving.
My intention is to narrow down the trades gradually and be more selective,something I know will have to be done when live.
Not just ready for that yet but I think I will know when the time comes.

Once again thanks for your generosity in keeping us on the right track

All the best from Tipperary
  • #2,818
  • Mar 5, 2018 2:41pm Mar 5, 2018 2:41pm
Daily Update Dow Jones Post#2,751:

Dow Jones

Worker: Sunday open with a GAP Downthat was positive to our projected Trade of Long. The candle ends bullish with the Target of the First Resistance of H4/D1 Because we still are inside of the WCC.

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Co-Worker: The price try to go down take us with a drawdown... the StopLoss was bellow of the confirmed swing. After a few candles the price went up to our projected direction.

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****************

Notes: We already are more of the 1:1 RR and now im at Breakeven waiting for the TakeProfit.

Questions:

If we were in uptrend, i mean... if the Weekly were trending up, i should leave my order and take profit to the DASH BLUE LINE (Daily S&R) or Weekly S&R. But we are inside of WCC and is better to take profit in the "Weak" Resistance of H4?
  • #2,819
  • Mar 5, 2018 3:07pm Mar 5, 2018 3:07pm
USDMXN

Worker: We entry Short as projected at the open market. The price went up testing the highs... the StopLoss is above of the Confirmed Swing at the Top of WCC.
The candle ends again in a shooting star. The StopLoss still above of Swing and Target is the first Support of H4 because the WCC.

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Co-Worker: The last candle close bearish and confirming again the Swing at the top.

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***********

Notes: Price is holding Resistance and create another Shooting Star for go down. StopLoss and Targets are intacts.

Question: Its ok inside of WCC the S&R of H4 (Co-Worker)? And i draw a orange line, that can be the Target of Support H4? Thank you.
  • #2,820
  • Mar 5, 2018 3:37pm Mar 5, 2018 3:37pm
Quoting strat
EURUSD {quote} Very good, Jason, except for BUEOB at 63ema. We don't trade moving averages, it should be BUEB at support of the Strat Shadow. Good to see a PLAN
Thank you for the feedback Strat.
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