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Strat's PASR Long Term, Stress Free Trading

  • #3,201
  • Edited 11:58am Mar 23, 2018 11:25am | Edited 11:58am
GBPJPY & GBNZD M5

Quoting Rufus
{quote} Closed them before targets. Heading out for work. GBPJPY 15 pip gain {image} {image} GBPNZD 4 pip loss {image} {image}
So you made 15 pips on GBPJPY M5 - big deal! When I saw all that resistance on my chart I ran for the next pair. Yes you made 15 pips but it is not trend trading and repeating this will not put you in the "consistently profitable" column. What was your PLAN? If you haven't the time to devote your full attention to trading then don't trade! This looks like "desperation to trade"

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4 pips loss on GBPNZD? You deserved more! Why would you BUY INTO RESISTANCE?

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In both cases, there is NO TREND ESTABLISHED to trade pull backs on!

Being in PST, you have the same problem as I when trading M5 which is why I WAIT for New York to CONTINUE the TREND ESTABLISHED by London. If New York does not continue the established London trend then it is NO TRADE for me.

In my early days on M5 with PASR I did exactly what you are doing and ended up in the LOSERS column. This is why I now have a strategy with rules for MY M5 trading in PST.
15 YEARS OF PASR ON FOREX FACTORY!
  • #3,202
  • Mar 23, 2018 11:48am Mar 23, 2018 11:48am
Quoting strat
GBPJPY & GBNZD M5 {quote} So you made 15 pips on GBPJPY M5 - big deal! When I saw all that resistance on my chart I ran for the next pair. Yes you made 15 pips but it is not trend trading and repeating this will not put you in the "consistently profitable" column. What was your PLAN? If you haven't the time to devote your full attention to trading then don't trade! This looks like "desperation to trade" {image} 4 pips loss on GBPNZD? You deserved more! Why would you BUY INTO RESISTANCE? {image} In both cases, there is NO TREND ESTABLISHED to trade...
This has been my nemesis for trading the US session. At what point are they reversing the London move or staying with it? I will go back to some of your 5m charts and see what your examples are. I was looking at swings on a 5m chart to see if US was going to reverse London by taking out some of the London swings.

I have about 2 hours in the morning to trade undisturbed. If the US session moves with London it is usually a good trade. But it is looking like in order to trade a reversal of London I may often need more time to get a US trend established. This area of my trading plan needs some work.

Thank you for taking the time to evaluate my trades. I now have some very specific ideas to work on over the weekend.
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #3,203
  • Mar 23, 2018 12:17pm Mar 23, 2018 12:17pm
M5 Trading

Quoting Rufus
{quote} This has been my nemesis for trading the US session. At what point are they reversing the London move or staying with it? I will go back to some of your 5m charts and see what your examples are. I was looking at swings on a 5m chart to see if US was going to reverse London by taking out some of the London swings. I have about 2 hours in the morning to trade undisturbed. If the US session moves with London it is usually a good trade. But it is looking like in order to trade a reversal of London I may often need more time to get a US trend...
At what point are they (US) reversing the London move or staying with it?

Trading tops and bottoms and especially reversals will empty your trading account while you are not looking - been there, done that and still wear the T shirt!

You need to UNDERSTAND that London has by far the largest forex trading volume in the World and the Big Boys there are KING! Most of the time the US piggybacks on London trading. The rest of the time, they are undecided which is why PRICE consolidates.

You can continue to trade London reversals in US trading BUT all these trades will be CORRECTIVE WAVES against the London trend. Yes, you will get lucky once in a while and make a few pips but I will GUARANTEE you will not be consistently profitable doing it. Why not LEARN from someone who already has the scars from this?

Better yet, why not trade the longer time frames which will not STRESS YOU OUT?

Here are a few of my M5 posts:

943
1180
1187
1190

and, a perfect example of the US continuing the established trend SET by London:

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15 YEARS OF PASR ON FOREX FACTORY!
  • #3,204
  • Mar 23, 2018 12:30pm Mar 23, 2018 12:30pm
Quoting strat
M5 Trading {quote} At what point are they (US) reversing the London move or staying with it? Trading tops and bottoms and especially reversals will empty your trading account while you are not looking - been there, done that and still wear the T shirt! You need to UNDERSTAND that London has by far the largest forex trading volume in the World and the Big Boys there are KING! Most of the time the US piggybacks on London trading. The rest of the time, they are undecided which is why PRICE consolidates. You can continue to trade London reversals in...
Thanks again.

You have clarified a lot with these last two posts. Trying to trade reversals of London have usually been frustrating at the least. I should have had a clue from the frustration alone.

I'm looking forward to the weeks and months ahead fine tuning my trading.

I'm also watching the HTF trades. Did not see an entry last week. Also didn't want a new HTF position with all the FOMC news. Looking at the charts, next week is looking promising. We will see.

Have a super weekend.
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #3,205
  • Mar 23, 2018 12:38pm Mar 23, 2018 12:38pm
PASR M5 trend trading versus PASR long term, stress free trading

So what time frame is this chart?
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15 YEARS OF PASR ON FOREX FACTORY!
  • #3,206
  • Edited 1:07pm Mar 23, 2018 12:44pm | Edited 1:07pm
Hi Strat,

M5 PASR Trend Trading

Before you ask me again, I did not see the TOOTH BLADE STRUCTURE with converging/diverging with Strat Shadow on any of my trading pairs/charts hence, I stay out today.


Happy Weekend,
Yomi.
Time always comes before price
  • #3,207
  • Mar 23, 2018 12:49pm Mar 23, 2018 12:49pm
I didn't take any trade today, simply because there was nothing appealing, nothing that yelled "trade me".

Most people who decide to try to trade are/have been employees and their view of work is that you must get busy because the boss wants you to keep busy.
But when you are/have been an entrepreneur, approaching trading is different as you no longer waste time with unlikely/poor R:R opportunities as you have no boss/shareholders to impress/appease.

Trading is a business, but it is not one that you should approach the way a salaryman would.
I have been both an employee and a business owner at different stages of my life, and the whole mindset shifts from looking busy to spending your resources wisely. That's also why companies always look for entrepreneur-minded employees hardly ever find them or keep them in that mindset. These are two very different roles and so should your approach be to trading if you trade your own capital.

Strat, the soapbox is all yours
Have a great weekend
  • #3,208
  • Mar 23, 2018 12:59pm Mar 23, 2018 12:59pm
Quoting darko2010
I didn't take any trade today, simply because there was nothing appealing, nothing that yelled "trade me". Most people who decide to try to trade are/have been employees and their view of work is that you must get busy because the boss wants you to keep busy. But when you are/have been an entrepreneur, approaching trading is different as you no longer waste time with unlikely/poor R:R opportunities as you have no boss/shareholders to impress/appease. Trading is a business, but it is not one that you should approach the way a salaryman would. I have...
I have employees and you took the words right out of my mouth. They drive me crazy at times; I'll blame on the younger generation and cell phones glued to their hands. This past week I've been able to work alone on a big project while they are wrapping up others. It has been a vacation.

As for mindset. You nailed it. I'm looking at retirement, need to my body can't take the abuse like it used to. This is where trading is coming in for me.

Passing the soapbox off.
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #3,209
  • Mar 23, 2018 1:00pm Mar 23, 2018 1:00pm
Quoting strat
PASR M5 trend trading versus PASR long term, stress free trading So what time frame is this chart? {image}
It can be any timeframe. So I would only be guessing.
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #3,210
  • Edited Mar 24, 2018 10:04am Mar 23, 2018 1:01pm | Edited Mar 24, 2018 10:04am
M5 PASR Trend Trading

Quoting fxrabbi
Hi Strat, M5 PASR Trend Trading Before you ask me again, I did not see the TOOTH BLADE STRUCTURE with converging/diverging with Strat Shadow on any of trading pairs/charts hence, I stay out today. Happy Weekend, Yomi.
I stay out today

Me too, Yomi!

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15 YEARS OF PASR ON FOREX FACTORY!
  • #3,211
  • Mar 23, 2018 1:05pm Mar 23, 2018 1:05pm
PASR

Quoting darko2010
I didn't take any trade today, simply because there was nothing appealing, nothing that yelled "trade me". Most people who decide to try to trade are/have been employees and their view of work is that you must get busy because the boss wants you to keep busy. But when you are/have been an entrepreneur, approaching trading is different as you no longer waste time with unlikely/poor R:R opportunities as you have no boss/shareholders to impress/appease. Trading is a business, but it is not one that you should approach the way a salary man would. I...
I didn't take any trade today, simply because there was nothing appealing, nothing that yelled "trade me"

So glad that you can finally SEE, darko!

Attached Image
15 YEARS OF PASR ON FOREX FACTORY!
  • #3,212
  • Mar 23, 2018 1:30pm Mar 23, 2018 1:30pm
Quoting strat
PASR {quote} I didn't take any trade today, simply because there was nothing appealing, nothing that yelled "trade me" So glad that you can finally SEE, darko! {image}
How did you get my picture ????
  • #3,213
  • Mar 24, 2018 1:06am Mar 24, 2018 1:06am
Quoting strat
USDCAD {quote} See Post 3193 Why on earth would you buy when there is a doji shooting star at resistance let alone what the Strat Shadow is telling you? I have no sympathy whatsoever for anyone who LOSES MONEY when they place orders by phone!
EIDTED: I realized this is a tough love post. Shouldn't be arguing!
  • #3,214
  • Mar 24, 2018 11:02am Mar 24, 2018 11:02am
Another cold wet day in the Pacific NW.

I have been going through the threads with a resolve to make this work.

While out and about today, going to pick up a note book... Not the computer but real pen and paper for all you younger traders. I lose notes taken and stored on my computer. Besides have a dead computer sitting next to me on the floor that I hope I will be able to get information out of. I Digress. Anyway, I have thought through how I will compile information on various aspects of PASR to nail down my trading plan in writing. Again on paper...

Here is something that may interest some.

http://player.themoth.org/#/?actionT...AY&storyId=971

Interesting Pod cast.

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Book by the same person.

She is a World Series Of Poker winner

Before anyone flames my ass. I do not compare trading to gambling. Professional poker players are another story. She shares in her book that there can be over something like 40 decisions in a single hand. Decisions made with a plan, under pressure and with an unknown outcome. There is also a section on learning in constructive groups, which reminds me of this thread.

For those who like reading, might be something to look into.

Now off to take care of tons of lose ends. Self employed with employees tends to make these.

Have a great weekend
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #3,215
  • Edited 11:51am Mar 24, 2018 11:31am | Edited 11:51am
Hi Strat,

I made my first analysis on EURUSD (the only pair I trade for the moment, I manage to stay above even...).
Not sure it is the best one right now with PASR, but it is just for educational purpose.

Big Boss : up trend, but approaching the many year down TL (there is room for 250 - 300 pips)
Boss : Retracing / consolidating
Worker : Wedge pattern, I noticed 3 BUEB/BUOB at Minor monthly resistance & lower TL

- is my analysis ok
- does having a buy stop order above the upper wedge TL make sense, given the above elements (I'm not going to trade it ...)
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  • #3,216
  • Mar 24, 2018 11:50am Mar 24, 2018 11:50am
Quoting darko2010
{quote} How did you get my picture ????
From Chief Inspector Charles LaRousse Dreyfus
15 YEARS OF PASR ON FOREX FACTORY!
  • #3,217
  • Mar 24, 2018 11:51am Mar 24, 2018 11:51am
Quoting Rub
{quote} EDITED: I realized this is a tough love post. Shouldn't be arguing!
Fire away, Rub, there are no secrets on here
15 YEARS OF PASR ON FOREX FACTORY!
  • #3,218
  • Mar 24, 2018 11:55am Mar 24, 2018 11:55am
Quoting Rufus
Another cold wet day in the Pacific NW. I have been going through the threads with a resolve to make this work. While out and about today, going to pick up a note book... Not the computer but real pen and paper for all you younger traders. I lose notes taken and stored on my computer. Besides have a dead computer sitting next to me on the floor that I hope I will be able to get information out of. I Digress. Anyway, I have thought through how I will compile information on various aspects of PASR to nail down my trading plan in writing. Again on...
Good stuff, Rufus!

I have been going through the threads with a resolve to make this work

Turn your "resolve" into Determination & Perseverance and you will get there

Another cold wet day in the Pacific NW

Oregon or Washington? Just cloudy and cool (67 degF) here in Palm Springs
15 YEARS OF PASR ON FOREX FACTORY!
  • #3,219
  • Mar 24, 2018 11:59am Mar 24, 2018 11:59am
Quoting strat
{quote} Good stuff, Rufus! I have been going through the threads with a resolve to make this work Turn your "resolve" into Determination & Perseverance and you will get there Another cold wet day in the Pacific NW Oregon or Washington? Just cloudy and cool (67 degF) here in Palm Springs
Washington. East side of Olympic Peninsula.
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #3,220
  • Mar 24, 2018 12:11pm Mar 24, 2018 12:11pm
EURUSD

Quoting Bestof27
Hi Strat, I made my first analysis on EURUSD (the only pair I trade for the moment, I manage to stay above even...). Not sure it is the best one right now with PASR, but it is just for educational purpose. Big Boss : up trend, but approaching the many year down TL (there is room for 250 - 300 pips) Boss : Retracing / consolidating Worker : Wedge pattern, I noticed 3 BUEB/BUOB at Minor monthly resistance & lower TL - is my analysis ok - does having a buy stop order above the upper wedge TL make sense, given the above elements (I'm not going to trade...
Not bad analysis but EURUSD is just stuck in consolidation and is best left for the short time frame traders.

Big Boss is directionless and waiting for the Big Boys to regain interest.
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Boss - PRICE is trapped inside an 8 week Weekly Control Candle and is erratic
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Worker - if you are desperate for a trade you could enter above the wedge trend line although you would do better to look at H4 ""IF"" you need to trade it.
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Thanks for posting
15 YEARS OF PASR ON FOREX FACTORY!
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