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Strat's PASR Long Term, Stress Free Trading

  • #3,221
  • Mar 24, 2018 3:45pm Mar 24, 2018 3:45pm
Quoting strat
EURUSD {quote} 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. {image} Boss - PRICE is trapped inside an 8 week Weekly Control Candle and is erratic {image} 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. {image} Thanks for posting
Thanks Strat for giving your opinion !

No, I don't want/need to trade this setup...

I want to trade on the long run, so no need to hurry.
I ll keep on watching this pair, and may be some other ones to learn. I ll certainly post some ideas ...
  • #3,222
  • Mar 24, 2018 7:48pm Mar 24, 2018 7:48pm
From the above book I posted.

"I started conducting poker seminars for players newer to the game. When I used hands I had played as illustrations, I would describe the hand up to the decision point I was discussing and no further, leaving off how the hand ended. This was after all, how I had been trained by my poker group. When we finished the discussion, it was jarring to watch a roomful of people look at me like I had left them teetering on the edge of a cliff."

"Wait! How did the hand turn out?"
I gave them the red pill: "It doesn't matter."

I was thinking. This is exactly our mindset as traders as we faithfully operate our proven trading plan. The outcome doesn't matter.

I think about a lot of things when it comes to psychology and trading. The outcome of one, five, ten or even twenty trades doesn't necessarily mean much. Small sample bias. This is one reason so many people thread hop. First two trades go awry and "This system sucks" is the attitude. I have met a number of traders over the years with bazar differences in how they trade. One guy looked for ten pips, would sit there and wait for his setup 10 full lots. He gave it all his profit to charities, just loved conquering the market and the man in the mirror. That is just one example.

The point is we have to find our path. A path has been laid out before us which Strat has so graciously made available. It isn't a super highway, a path with all the distractions it has to offer. Lurkers toting their wares, the newest whiz-bang shindig indicator, fear, greed, or any number of things. At times it may seem I am teetering on the edge of a cliff....It doesn't matter; stick to the path, stick to the plan, put on 1000 trades. Someday the path will be my own super highway complete with fishing holes loaded with trout waiting for my fly.

Ah well. A little how my mind works.
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #3,223
  • Mar 24, 2018 7:54pm Mar 24, 2018 7:54pm
Alright, that time of the week again.

USD/JPY

BB: Down, but approaching an area of support at 101 BRN.

B: Closed below the recent WCC, but near weekly support at 104.20. Significantly below strat shadow.

W: Tested strat shadow 3 days ago, produced a bearish engulfing bar, and pushed down below the WCC. Some room to run before support, but not much from current price.

Will look to get in a short if there is a retracement and appropriate price action.
Attached Image(s) (click to enlarge)
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  • #3,224
  • Mar 24, 2018 8:11pm Mar 24, 2018 8:11pm
Quoting Rub
Alright, that time of the week again. USD/JPY BB: Down, but approaching an area of support at 101 BRN. B: Closed below the recent WCC, but near weekly support at 104.20. Significantly below strat shadow. W: Tested strat shadow 3 days ago, produced a bearish engulfing bar, and pushed down below the WCC. Some room to run before support, but not much from current price. Will look to get in a short if there is a retracement and appropriate price action. {image} {image} {image}

On a scale of 0 to 100...the Fibs agree with you...mostly?



Nice breakdown, dude!
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Hey Strat...

How's things?

\m/
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #3,225
  • Mar 25, 2018 1:44pm Mar 25, 2018 1:44pm
Quoting strat
PASR M5 trend trading versus PASR long term, stress free trading So what time frame is this chart? {image}
Hi Strat

I was waiting for someone else to answer this but hey ho.....

Attached Image (click to enlarge)
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For a trader like Dr Joe this would be 5979 possibly life changing pips. Traded conservatively but with patience and discipline.
Private Msgs are turned off to weirdos, loafs and brain drainers
  • #3,226
  • Mar 25, 2018 1:55pm Mar 25, 2018 1:55pm
Quoting BeyondTheSea
{quote} Hi Strat I was waiting for someone else to answer this but hey ho..... {image} For a trader like Dr Joe this would be 5979 possibly life changing pips. Traded conservatively but with patience and discipline.

That's a better answer than mine.
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #3,227
  • Edited 6:16am Mar 26, 2018 5:48am | Edited 6:16am
GBPUSD M5 PASR Trend Trading:


LIVE at the MOVING HARD RIGHT EDGE, where price is jumping up and down BUT, I only jumped in, when the Strat Shadow is showing TOOTH BLADE STRUCTURE..........




Happy Trading,
Yomi
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Time always comes before price
  • #3,228
  • Edited 6:18am Mar 26, 2018 5:55am | Edited 6:18am
GBPCAD M5 PASR Trend Trading:


LIVE at the MOVING HARD RIGHT EDGE, where price is jumping up and down BUT, I only jumped in, when the Strat Shadow is showing TOOTH BLADE STRUCTURE..........




Happy Trading,
Yomi
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Time always comes before price
  • #3,229
  • Mar 26, 2018 6:27am Mar 26, 2018 6:27am
Hi All

Been a long time since my first post: been reading and plucking up courage to make a trade. I'm a very trigger-shy, risk averse trader. I also have no idea how you guys post charts that can open in the window since I really can't!

I trade at work on my device, primarily because I have a good few hours in the (London) morning before management (based in US) gets in, so i trade M5 and have been looking only at EUR/USD in order to keep everything consistent. I also have a small account and trade micro-lots until the training wheels come off.

First trade today - I'm posting the DailyFX chart rather than mine from my device since I can't change it to a white background.

I opened the trade on the retrace to strat shadow and break of the IB (my chart printed the candle after the IB a little differently and it looked alot more like a BUOB. I traded the close of that bar. The price stalled at BRN 1.2400 (also a BB S/R level), and my little people screamed, I loved the idea of banking a profit and decided to cash in and see if a reentry was possible. There is (hopefully!) WCC resistance at ~1.2440 which was also weighing on my mind and forming my likely profit target - so now i'm set in to see if the strat shadow will scare away the sharks above 1.2400.

As I watch, price is teetering at 1.2400 and deciding whether to break up and make me look fearful and lame, or to reverse and make me look like a genius.

Pros:

 

  1. Happy with my entry
  2. +27 pips
  3. Got over my fear of placing a trade


Cons:

 

  1. 'Little people' exit
  2. 'Only' +27 pips
  3. Not got over my fear of holding a trade
  4. No idea how to post this damn chart!


Sorry for the attached JPG file - I have no idea how you guys insert those charts directly into the screen -is that straight from your broker? Or is there something on here I'm missing?

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  • #3,230
  • Mar 26, 2018 6:54am Mar 26, 2018 6:54am
Quoting Humbucker
Hi All Been a long time since my first post: been reading and plucking up courage to make a trade. I'm a very trigger-shy, risk averse trader. I also have no idea how you guys post charts that can open in the window since I really can't! I trade at work on my device, primarily because I have a good few hours in the (London) morning before management (based in US) gets in, so i trade M5 and have been looking only at EUR/USD in order to keep everything consistent. I also have a small account and trade micro-lots until the training wheels come off....
Hi
I use windows snipping tool and then highlight with windows paint
  • #3,231
  • Mar 26, 2018 7:04am Mar 26, 2018 7:04am
Quoting bistolis
{quote} Hi I use windows snipping tool and then highlight with windows paint
Thanks - that's what I did, and it looked like a hyperlink in the preview, but seemed to work when I actually posted it.
  • #3,232
  • Mar 26, 2018 8:18am Mar 26, 2018 8:18am
Some quick updates from last week's trades that I took. Also, I re-read what you told me about Big Boss and what we look for on its charts. It's on my desktop now, so I never dare to forget.

EUR/AUD: Took a long from 1.59 area, strong bullish BUEB, all timeframes tell the same thing. Around 100 pips of profit as of right now, we will see how today will close, as price is at a psycho level of 1.60. This was my second EUR pair, so this trade was very low risk one.

EUR/ZAR: My first EUR pair last week. Went short on BEEB (green rectangle), price was close to SS and BB resistance. Right now it is reacting to another major BB level, will monitor today's close.

GBP/JPY: That's where I was wrong with EUR/JPY, I did not look into short-term direction of Big Boss. Last month's candle was bearish, and stopped right at a BB support level. From worker chart, BEEB formed at WCC top and SS as well as a Boss resistance level. I took a short at the close of BEEB (green rectangle). From today's price movement I'm starting to wonder if I understand these JPY pairs at all!

If anyone sees what is wrong with my GBP/JPY trade, let me know, I'm eager to understand them!
Attached Image(s) (click to enlarge)
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  • #3,233
  • Mar 26, 2018 8:35am Mar 26, 2018 8:35am
Quoting Svolacius
Some quick updates from last week's trades that I took. Also, I re-read what you told me about Big Boss and what we look for on its charts. It's on my desktop now, so I never dare to forget. EUR/AUD: Took a long from 1.59 area, strong bullish BUEB, all timeframes tell the same thing. Around 100 pips of profit as of right now, we will see how today will close, as price is at a psycho level of 1.60. This was my second EUR pair, so this trade was very low risk one. EUR/ZAR: My first EUR pair last week. Went short on BEEB (green rectangle), price was...
I can only see this
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  • #3,234
  • Mar 26, 2018 9:13am Mar 26, 2018 9:13am
EUR/CAD

I've just had a new trade trigger for me today. Placed a buy order on Thursday last week above the candle high which got hit this morning. Trade looks good to me on the worker although the boss is looking extended so a little cautious. Will see how it closes this evening and may reduce my stop. Currently the R:R if price breaks out above resistance is only about 2:1. I'm finding placing orders in the market a much more stress free way to get into a trade.

BB - Bullish for the last 2 months and so far this month looking like a bullish close at the moment. We hit resistance from January 2016 which got rejected last week so cautious of that level.

Boss - Entering 3rd week of WCC. Very extended and further from the SS than I would like. Is in a very strong move north though at the moment.

Worker - Tested SS support on Thursday and Friday last week putting in some long tails on the dojis both days but closed above SS both days. SS hasn't really been touched since January and the fact it has now after testing resistance could be a sign of bearish sentiment coming in and a correction. Time will tell. Price has tested that resistance twice now in the last 3 weeks. My old stock trading mentor used to have a little saying.
"Two taps is for losers" - i.e. wait for the third test to confirm a breakout.
Third tap on that resistance could be the breakthrough and a more parabolic move.

Stop is below the low from last week. First target will be WCC resistance to take some profit and move to BE. Then after that skys the limit if it breaks resistance as will be in untested waters for the last decade. Realistic target I think is 1.63 area which is resistance from July 2009.

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Study enough and it all starts looking like the Matrix...
  • #3,235
  • Mar 26, 2018 9:53am Mar 26, 2018 9:53am
EURAUD M5 PASR Trend Trading:


LIVE at the MOVING HARD RIGHT EDGE, where price is jumping up and down BUT, I only jumped in, when the Strat Shadow is showing TOOTH BLADE STRUCTURE..........




Happy Trading,
Yomi.
Attached Image (click to enlarge)
Click to Enlarge Name: EURAUDM5.png Size: 32 KB
Time always comes before price
  • #3,236
  • Mar 26, 2018 9:56am Mar 26, 2018 9:56am
USDJPY

Quoting Rub
Alright, that time of the week again. USD/JPY BB: Down, but approaching an area of support at 101 BRN. B: Closed below the recent WCC, but near weekly support at 104.20. Significantly below strat shadow. W: Tested strat shadow 3 days ago, produced a bearish engulfing bar, and pushed down below the WCC. Some room to run before support, but not much from current price. Will look to get in a short if there is a retracement and appropriate price action. {image} {image} {image}
Good analysis, Rub
15 YEARS OF PASR ON FOREX FACTORY!
  • #3,237
  • Mar 26, 2018 10:11am Mar 26, 2018 10:11am
EURUSD M5

Quoting Humbucker
Hi All Been a long time since my first post: been reading and plucking up courage to make a trade. I'm a very trigger-shy, risk averse trader. I also have no idea how you guys post charts that can open in the window since I really can't! I trade at work on my device, primarily because I have a good few hours in the (London) morning before management (based in US) gets in, so i trade M5 and have been looking only at EUR/USD in order to keep everything consistent. I also have a small account and trade micro-lots until the training wheels come off....
Worth waiting for Gibson man!

I opened the trade on the retrace to strat shadow and break of the IB (my chart printed the candle after the IB a little differently and it looked alot more like a BUOB

Good, don't forget your Stop Loss

my little people screamed, I loved the idea of banking a profit

Just keep taking little chunks of the trend until you UNDERSTAND the Strat Shadow

Good job on your Pros and Cons

Where are your Support and Resistance levels?

Here is my chart "if" I was trading it (which I'm not)
Attached Image (click to enlarge)
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15 YEARS OF PASR ON FOREX FACTORY!
  • #3,238
  • Mar 26, 2018 10:19am Mar 26, 2018 10:19am
EURAUD, EURZAR & GBPJPY

Quoting Svolacius
Some quick updates from last week's trades that I took. Also, I re-read what you told me about Big Boss and what we look for on its charts. It's on my desktop now, so I never dare to forget. EUR/AUD: Took a long from 1.59 area, strong bullish BUEB, all timeframes tell the same thing. Around 100 pips of profit as of right now, we will see how today will close, as price is at a psycho level of 1.60. This was my second EUR pair, so this trade was very low risk one. EUR/ZAR: My first EUR pair last week. Went short on BEEB (green rectangle), price was...
If anyone sees what is wrong with my GBP/JPY trade, let me know, I'm eager to understand them!

Nothing wrong - just the crappy action of JPY pairs. Learn to have PATIENCE to manage your trades.
15 YEARS OF PASR ON FOREX FACTORY!
  • #3,239
  • Mar 26, 2018 10:24am Mar 26, 2018 10:24am
GBPJPY

Quoting bistolis
{quote} I can only see this {image}
Yes, good job!
15 YEARS OF PASR ON FOREX FACTORY!
  • #3,240
  • Mar 26, 2018 10:35am Mar 26, 2018 10:35am
Quoting tintin1
Here is my First post here. Took a WEAT ETF to analyse it will try to post atleast one analysis per week. I see this as opportunity to learn BB: is in long term Downtrend. immediate uptrend price is at strat shadow resistance B: Same long term down trend. immediate trend is uptrend. recently made HH and price above strat shadow. looks like it formed a WCC( Im not yet clear on this concept so pardon me if i'm wrong). W: Immediate uptrend, made a HH recently and price at the start shadow support. Trade Plan. Buy at 1/2 at 6.60 and 1/2 at 6.50 Target...
Quick update on this WEAT trade
I entered as per the plan but little lower at 6.30 and 6.20. the trade still looks good as it gonna base here based on Boss, when BOSS turns in the direction of BB, then this will run

Thanks
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