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Strat's PASR Long Term, Stress Free Trading

  • #3,101
  • Mar 19, 2018 12:14pm Mar 19, 2018 12:14pm
EURAUD M5 PASR Trend Trading:


Bonus/EOD trade:





Happy Trading,
Yomi.
Attached Image (click to enlarge)
Click to Enlarge Name: EURAUDM5.png Size: 33 KB
Time always comes before price
  • #3,102
  • Mar 19, 2018 12:22pm Mar 19, 2018 12:22pm
Quoting fxrabbi
EURAUD M5 PASR Trend Trading: Bonus/EOD trade: Happy Trading, Yomi. {image}
Well done Yomi. Are these live trades or paper trades?
  • #3,103
  • Edited Mar 20, 2018 10:22am Mar 19, 2018 12:46pm | Edited Mar 20, 2018 10:22am
Quoting darko2010
{quote} Well done Yomi. Are these live trades or paper trades?
I'm full-time trader. I never believed in paper/demo trading, I started with live day1, and it been a very long time now.

It took me over 10years/10,000 trading hours to get to this level.

My posting here is to encourage someone out there....

I gained most of my experience here in FF by studying experienced traders charts, all I need to see in a chart is the entry and exit points.......

Mate, all my posting here are LIVE.


Happy Trading,
Yomi.
Time always comes before price
  • #3,104
  • Mar 19, 2018 12:54pm Mar 19, 2018 12:54pm
Quoting samsonwebdes
Difference Between Brokers Charts Beyond the Sea kindly recommended a UK broker to me that uses US closes on their candles and also has no Sunday candle following a question I asked over the weekend. I've loaded up MT4 this morning and copied my templates and layouts over to look at the difference and it's quite dramatic in places. I've posted the two AUD/JPY charts below for the daily and highlighted a few areas that to me are quite significant. I know we all need to SEE the trades on our own charts so I'm not advocating there is one chart to rule...
No excuses now!
Private Msgs are turned off to weirdos, loafs and brain drainers
  • #3,105
  • Mar 19, 2018 12:58pm Mar 19, 2018 12:58pm
Quoting BeyondTheSea
{quote} No excuses now!
NO I know!
Been playing with the demo today placing trades and one BIG difference is the way orders are placed.
On my IG account all trades are placed in sterling. i.e. I take a 1 lot trade and it moves 100 pips and I make £100.
On this new broker I placed a trade on NZD/USD for 1 lot and it's move 22 pips and showing £150 profit!
It's a buy so I assume I'm buying 1 lot of NZD not sterling. Going to take a bit of getting used to and some currency conversion before I enter trades so I don't over expose myself!
any quick tips on calculating lot size in multiple currencies?
Study enough and it all starts looking like the Matrix...
  • #3,106
  • Mar 19, 2018 1:00pm Mar 19, 2018 1:00pm
Quoting trogger
{quote} Up Where We Belong ??? * And now, for something completely different! Let's start with a 5 min chart (what?! shock/horror - Trogger is posting a 5 - min chart?) Well, actually, I'm going to post a series of 5 min charts, snapped as the "action" unfolded - but only to illustrate a point: After the third of my "non-ambitious targets" (in my last post on this pair, above) was hit, price underwent an orderly decline to (drum roll please!) 0.7198. I happened to turn my computer on this evening, a few minutes after price reached (0.7198) and thought...
Thanks Trogger, part of my training is to enter my NZD trades in the morning and then open up FF to read where you are going and mark myself!! Also looking at AUDNZD, seems like a nice leisurely stroll after the pub to 1.04...
Private Msgs are turned off to weirdos, loafs and brain drainers
  • #3,107
  • Mar 19, 2018 1:26pm Mar 19, 2018 1:26pm
Quoting samsonwebdes
{quote} NO I know! Been playing with the demo today placing trades and one BIG difference is the way orders are placed. On my IG account all trades are placed in sterling. i.e. I take a 1 lot trade and it moves 100 pips and I make £100. On this new broker I placed a trade on NZD/USD for 1 lot and it's move 22 pips and showing £150 profit! It's a buy so I assume I'm buying 1 lot of NZD not sterling. Going to take a bit of getting used to and some currency conversion before I enter trades so I don't over expose myself! any quick tips on calculating...
Yep, IG is for retail gambling IMHO, but the less I say the better. It's been ages since I ditched them but I recall they quote a decimal place less than normal MT4 brokers (just check this).
While you are on demo enter a position for each pair and pull your stop loss to 1 pip and write down what each pip value is worth on each pair (or 100 and divide the GBP amount by 100)

i.e. GBPNZD will be 100 pips (which will now appear as 1000 because you are now on a 5 decimal place pair)

1 lot @100 = £516 / 100 = £5.165 per pip
0.1 Lot = £0.5165 pence

Now just use your pip value to calculate your risk on each pair. It might sound a bit complicated but it's really not when you see what I mean (you'll just automatically drop the last digit in your mind and calculate your positions correctly).

Watch out for GBPUSD it has the highest pip value, also commission on GBP pairs is higher.

Hope this makes sense, you'll get the hang of it, use centre mouse button and left click to get a feel for measuring pips (or control F), I don't know if you are new to MT4? Just play around for a bit on demo if you are to get used to it before going live other wise you'll think an 10 pip stop loss is an 100 pip stop loss.....
Private Msgs are turned off to weirdos, loafs and brain drainers
  • #3,108
  • Mar 19, 2018 2:15pm Mar 19, 2018 2:15pm
Just a quick post before I run to the Just Off Broke, but I see a couple of the yen pairs forming interesting price action at an interesting spot. Might be a nice big engulfing bar on EUR/JPY when it closes. Or maybe not, still couple of hours untill close of my candles.
Attached Image (click to enlarge)
Click to Enlarge Name: EURJPYDaily.png Size: 30 KB
  • #3,109
  • Mar 19, 2018 4:56pm Mar 19, 2018 4:56pm
Hey Strat,

I've got a few questions regarding this post: https://www.forexfactory.com/showthr...58#post9336058 from your other thread if you don't mind me asking.

Are you still attempting to or planning to wean yourself off of forex based on this conversation with the other trader? why or why not?

Based on your conversation, are you trading or still planning to trade stocks/commodities/futures? why or why not?

Lastly, do you mind filling in the blanks from this post if you remember what they are?
  • #3,110
  • Mar 20, 2018 3:34am Mar 20, 2018 3:34am
Balls of Steel

The hardest part of trading PASR on the daily time frame (or any for that matter) is holding onto positions that are in profit, in spite of what the little people are saying.
I can honestly say they are screaming at me at the moment to bank some more profit (some already in the bank) but I'm holding my ground! Price isn't telling me to do any different at the moment.

Probably the first time in my trading life I've ever had a trade 460 pips in profit, held for 5 days and not worried about how it got there or where it's going!
Got a 270 pip one too taken on 5th March. That's 2 weeks ago!
Thanks Strat.

Attached Image (click to enlarge)
Click to Enlarge Name: Capture.JPG Size: 72 KB
Study enough and it all starts looking like the Matrix...
  • #3,111
  • Edited 5:48am Mar 20, 2018 5:36am | Edited 5:48am
SHAMEFUL 5M EURCAD

I am so angry at myself!!!
Terrible entry and pathetic exit without PA signalling.
Why? THE LITTLE PEOPLE !!!
Why? BECAUSE THESE LITTLE IDIOTS (ME) THINK I CAN MAKE UP FOR ALL MY LOSSES ON A 5M TRADE AND I AM STUPID ENOUGH TO LISTEN TO THEM

On the plus side:
- Winning trade (hard to lose on this one even though I could have been able to just a few weeks ago)
- I had a real argument with myself, generally the little guys don't even bother to listen
- This is advocating for higher TF trading, I need to be away from my screens to let the market do its work without interfering

Guys, look at EURCAD on higher TFs (H1, H4), it is really worth a look now for Basic PASR traders
Happy trading
Attached Image (click to enlarge)
Click to Enlarge Name: EURCAD-5-minutes.png Size: 23 KB
  • #3,112
  • Mar 20, 2018 6:32am Mar 20, 2018 6:32am
Quoting darko2010
SHAMEFUL 5M EURCAD I am so angry at myself!!! Terrible entry and pathetic exit without PA signalling. Why? THE LITTLE PEOPLE !!! Why? BECAUSE THESE LITTLE IDIOTS (ME) THINK I CAN MAKE UP FOR ALL MY LOSSES ON A 5M TRADE AND I AM STUPID ENOUGH TO LISTEN TO THEM On the plus side: - Winning trade (hard to lose on this one even though I could have been able to just a few weeks ago) - I had a real argument with myself, generally the little guys don't even bother to listen - This is advocating for higher TF trading, I need to be away from my screens to...
Deary me .. you giving yourself a hard time.. decent trade.
It's in fear when people show what they truly value.
  • #3,113
  • Mar 20, 2018 7:29am Mar 20, 2018 7:29am
EURCAD M5 PASR Trend Trading:


LIVE at the MOVING HARD RIGHT EDGE, where the Strat Shadow is showing TOOTH BLADE STRUCTURE.........




Happy Trading,
Yomi.
Attached Image (click to enlarge)
Click to Enlarge Name: EURCADM5.png Size: 35 KB
Time always comes before price
  • #3,114
  • Mar 20, 2018 7:35am Mar 20, 2018 7:35am
EURUSD M5 PASR Trend Trading:


LIVE at the MOVING HARD RIGHT EDGE, where the Strat Shadow is showing TOOTH BLADE STRUCTURE.........




Happy Trading,
Yomi.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDM5.png Size: 33 KB
Time always comes before price
  • #3,115
  • Mar 20, 2018 9:09am Mar 20, 2018 9:09am
Quoting ensale
{quote} Deary me .. you giving yourself a hard time.. decent trade.
Thanks ensale, but the dissonance between what I now understand and my inability to apply it is very frustrating.
Only time, practice and repetition can help I guess
  • #3,116
  • Mar 20, 2018 9:43am Mar 20, 2018 9:43am
Quoting HappyTrend
{quote} What you see for TakeProfit?
What does your PLAN tell you?
15 YEARS OF PASR ON FOREX FACTORY!
  • #3,117
  • Mar 20, 2018 9:47am Mar 20, 2018 9:47am
EURJPY

Quoting Rub
Just a quick post before I run to the Just Off Broke, but I see a couple of the yen pairs forming interesting price action at an interesting spot. Might be a nice big engulfing bar on EUR/JPY when it closes. Or maybe not, still couple of hours untill close of my candles. {image}
Might be a nice big engulfing bar on EUR/JPY when it closes

Wishful thinking Rub. What does the Big Boss and Boss tell you?
15 YEARS OF PASR ON FOREX FACTORY!
  • #3,118
  • Edited 10:41am Mar 20, 2018 10:16am | Edited 10:41am
Stocks, Futures & Commodities

Quoting Yoki
Hey Strat, I've got a few questions regarding this post: https://www.forexfactory.com/showthr...58#post9336058 from your other thread if you don't mind me asking. Are you still attempting to or planning to wean yourself off of forex based on this conversation with the other trader? why or why not? Based on your conversation, are you trading or still planning to trade stocks/commodities/futures? why or why not? Lastly, do you mind filling in the blanks from this post if you remember what they are?
I did go back to stocks but it was not as easy as he made out. The big problem was having to buy the stocks which meant not only having a very large account but a lot of that account tied up in one stock. The other disadvantage was not being able to sell a stock you don't own. To combat these I tried Options which, with all their many variables, was a nightmare for me. My main problem was that since i had spent all these years with PASR on Forex, I really knew PASR and Forex and it was instinctive and natural to me. I quickly realised PASR and Forex were what I really knew and did well so why change? One man's meat is another man's poison! I closed my stocks brokerage account and put it back into Forex.

The "Line In the Sand" for stocks is not applicable to Forex so forget that and focus on PASR

His trend continuation patterns and breakout strategies were ""indicator based"" and my PASR Trend Trading strategy leaves them for "dust"!

Inside bars were the focus of many discussions in my "old" original thread and I found that they were more meaningful in stocks than in Forex.

Only use Engulfing Bars is because stocks are ""BOUGHT"" rather than sold.

Bottom Line - Focus on PASR on Forex
15 YEARS OF PASR ON FOREX FACTORY!
  • #3,119
  • Mar 20, 2018 10:21am Mar 20, 2018 10:21am
PASR

Quoting samsonwebdes
Balls of Steel The hardest part of trading PASR on the daily time frame (or any for that matter) is holding onto positions that are in profit, in spite of what the little people are saying. I can honestly say they are screaming at me at the moment to bank some more profit (some already in the bank) but I'm holding my ground! Price isn't telling me to do any different at the moment. Probably the first time in my trading life I've ever had a trade 460 pips in profit, held for 5 days and not worried about how it got there or where it's going! Got a...
Well done! Make sure you are trading your PLAN and MANAGING you trades in accordance with that PLAN.

Read and practice more Trading Psychology

Believe in PASR and your understanding of PASR - there will come a time when you are upside down and feel that everything and everyone is against you. This will be your true test of you and your confidence and belief in you and PASR. Until then, ENJOY this moment.
15 YEARS OF PASR ON FOREX FACTORY!
  • #3,120
  • Mar 20, 2018 10:33am Mar 20, 2018 10:33am
EURCAD M5 PASR TREND TRADING

Quoting darko2010
SHAMEFUL 5M EURCAD I am so angry at myself!!! Terrible entry and pathetic exit without PA signalling. Why? THE LITTLE PEOPLE !!! Why? BECAUSE THESE LITTLE IDIOTS (ME) THINK I CAN MAKE UP FOR ALL MY LOSSES ON A 5M TRADE AND I AM STUPID ENOUGH TO LISTEN TO THEM On the plus side: - Winning trade (hard to lose on this one even though I could have been able to just a few weeks ago) - I had a real argument with myself, generally the little guys don't even bother to listen - This is advocating for higher TF trading, I need to be away from my screens to...
Darko, you MUST get rid of ALL your emotions when trading. Read more and more on Trading Psychology and practice it. Who is controlling you - your Little People or you? Are you sure you are using a PLAN and trading that PLAN? If you are then you can shut your Little People up by telling them you are trading your PLAN.

Don't be too hard on yourself - you have come a long way from where you were when you first joined us and PASR. Yes, it is a poor entry BUT you got out with a PROFIT.

You said you were using M5 to accelerate your learning and understanding of PASR so just do that. It will not be all wine and roses and you must learn to manage the bumps in the road and the sh*t that comes your way.

Calm down and make trading your "friend" - you are the one making it your "enemy". You WILL get there, just give yourself time.
15 YEARS OF PASR ON FOREX FACTORY!
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