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Strat's PASR Long Term, Stress Free Trading

  • #3,761
  • Apr 10, 2018 10:59am Apr 10, 2018 10:59am
USDCAD M5 PASR Trend Trading 50 pips Pacific Standard Time

Quoting Rufus
{quote} {image} Out with just under 50 pips. Not often I can grab that amount in the morning before going to the job site. Usually the other side of the pond gets it. For those who are interested. I like saving a number of screenshots of each trade. Entry, sometimes trouble areas, then exit. Helps when reviewing later so that I am seeing exactly what I saw when trade was placed. To keep the screenshots in order in the monthly file, I found that if you label them (1) USDCAD 1, (1) USDCAD 2. etc it will keep them together. Then the next position (2)...
Well done, Rufus, you were up much earlier than me. I only got my lazy ass to the screen at 7:30am PST where the M5 trend ended.
15 YEARS OF PASR ON FOREX FACTORY!
  • #3,762
  • Apr 10, 2018 10:59am Apr 10, 2018 10:59am
Quoting strat
{quote} "Bon, il est possible qu'après ça je me prenne un gros missile" Any more of this stuff and I will ram your "missile" up where the sun don't shine!
Sorry, just to see if you could read French
I promise I won't do it again
  • #3,763
  • Apr 10, 2018 11:08am Apr 10, 2018 11:08am
Hi Strat,

I just wanted to give my thoughts about a thing I came across in your thread (as I am going through THE PATH). Hope it’s Okay.
According to my understanding this Strat Mantra (and the belief statement from Professional trader) you posted in this thread and in THE PATH really has a potential to help with (or direct) the trading psychology. Like discipline and other stuff. If I am correct, I think you posted it in the thread for us to re-read it every day like a real MANTRA. So that it will sink in to our subconscious mind. According to my understanding this autosuggestion is a really powerful tool that in some of the popular psychology books recommends to use (As you already know). For example...
1. THINK AND & GROW RICH by Napolean Hill ( Chapter 4 -Autosuggestion)

“ You were instructed, in the last of the six steps described in the chapter on desire, to read ALOUD twice daily the WRITTEN statement of your DESIRE FOR MONEY, and to SEE AND FEEL yourself ALREADY in possession of the money! By following these instructions, you communicate the object of your DESIRE directly to your SUBCONCIOUS mind in a spirit of absolute FAITH. Through repetition of this procedure, you voluntarily create thought habits which are favourable to your efforts to transmute desire into monetary equivalent.”

2. The Greatest SALEMEN IN THE WOLD by OG MANDINO ( Chapter 8)
“I will continue in this manner until I have lived with each scroll for thirty days and my reading has become a habit. And what will be accomplished with this habit? Herein lies the hidden secret of all Man’s accomplishments. As I repeat the words daily they will soon become a part of my active mind, but more important ,they will also seep in to my other mind , that mysterious source which never sleeps, which creates my dreams, and often makes me act in ways I do not comprehend.”


Likewise there are many other examples which use this auto suggestion method. Before I subscribed to your thread in FF, I have been in several paid groups but I never come across such valuable insights from those paid groups. So my understanding is that this STRAT Mantra is so powerful in our trading (if we use it correctly) and I am really grateful to you for your generosity.
Sorry for my English (it’s not my MAMA tongue ).
Suranga
Focus, Patience, Discipline, Determination and Perseverance
  • #3,764
  • Apr 10, 2018 11:11am Apr 10, 2018 11:11am
GBPUSD & NZDUSD M5 PASR Trend Trading

Quoting catalin_eros
I got tired of watching GU and not getting the result I wanted. I closed the trades at BE. Actually, about 3 pips in red. {image} And then there is my other trade, NU. This one went much better. {image} This concludes my 8 hours in front of the PC in order to trade M5. I now understand why Strat calls it 'the one eyed MONSTER'. I also understand why he refers to D1 trading as 'stress free'.
So, stand back and look at those two charts.

Can you SEE the difference between them? Which one is trending SMOOTHLY? Which one is JERKING up and down?

This concludes my 8 hours in front of the PC in order to trade M5

8 hours!

8 hours!

You have more time on your hands than COMMON SENSE - GET A LIFE!

I have posted several times that studies have shown that a trader's PROFICIENCY, and therefore PROFITABILITY, decreases EXPONENTIALLY after 2 hours of STARING at a trading screen. Hell, I can't even do 2 hours non stop as I post at the same time as M5 trading to keep me "alert".
15 YEARS OF PASR ON FOREX FACTORY!
  • #3,765
  • Apr 10, 2018 11:20am Apr 10, 2018 11:20am
Trading Psychology

Quoting Suran
Hi Strat, I just wanted to give my thoughts about a thing I came across in your thread (as I am going through THE PATH). Hope it’s Okay. According to my understanding this Strat Mantra (and the belief statement from Professional trader) you posted in this thread and in THE PATH really has a potential to help with (or direct) the trading psychology. Like discipline and other stuff. If I am correct, I think you posted it in the thread for us to re-read it every day like a real MANTRA. So that it will sink in to our subconscious mind. According to...
Thank you. You are very smart.

Trading Psychology is the 95% that only a select few KNOW is what makes a trader consistently profitable. Drilling things over and over and over.........................into our trading brain (sub-conscious mind - Little People) is more powerful than any strategy. Unfortunately it is BORING and does not have the flashing lights and bells and whistles that attracts the LURKERS, NEWBIES, KNOW-IT-ALLS and GET RICH QUICK idiots on trading forums.

You are one of the select few
15 YEARS OF PASR ON FOREX FACTORY!
  • #3,766
  • Apr 10, 2018 11:24am Apr 10, 2018 11:24am
USDCAD M5 PASR Trend Trading 223 pips

Quoting fxrabbi
USDCAD M5 PASR Trend Trading: LIVE at the MOVING HARD RIGHT EDGE place..............where the Strat Shadow is showing SAW TOOTH BLADE STRUCTURE like Trend. Happy Trading, Yomi. {image}
Yomi, I have run out of superlatives to describe your trading
15 YEARS OF PASR ON FOREX FACTORY!
  • #3,767
  • Apr 10, 2018 11:35am Apr 10, 2018 11:35am
Quoting darko2010
{quote} I mean R:R wise, not being sarcastic
It was more than 1:2, SL of 20 pips and TP of 50. So like 1:2,5.

here is the reason to my madness:
I looked at D1 and I saw that after the BUEB, yesterday closed as a HH/HL candle. That told me there were bulls in the market.
Attached Image (click to enlarge)
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Then I looked at H4 and I saw a breakout of a range/ inside bars, and I love range breakouts. That told me there were bulls in the market.
Attached Image (click to enlarge)
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And lastly, H1 showed the definition of the tend. That told me there were bulls in the market.
Attached Image (click to enlarge)
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So three time frames showed bullish signs. To me, that is a sign that the bulls want the resistance broken.

And about the R:R, it can be improved with add ons, because in a bull market, we can lift the SL with every add on that we make, while keeping the TP the same. Therefore the risk gets smaller and the TP remains big. For instance, I enter with a 20 pips SL and a 100 pips TP. Once price moves 30 pips, I get another entry signal and I add on, while moving the SL of the first position at +10 and the SL of the second position is at the same level as the first position, so now I have a +10 and a -20. Then price moves up 25 pips, I get another signal, I add on, and I move the SL of the first position at +30 (+10 and +20), which is the BE of the position 2, so now I have +30 pips secured from position 1, a risk free trade from position 2, and the third position has a SL of 25 pips. The TP remains the same, so if now my SL gets hit, my R:R is better, because I have a 45 TP distance left and a +5 pips SL (+30 -25). So initial R:R was 1:5 (20 SL and 100 TP), and now I have a R:R of 1:7 (5 SL and 45 TP). And if we want it more advance, we can also lift the TP, if we have reasons to believe the market wants to go even higher, and in this case the R:R sees another increase.
  • #3,768
  • Apr 10, 2018 11:40am Apr 10, 2018 11:40am
Quoting catalin_eros
{quote} It was more than 1:2, SL of 20 pips and TP of 50. So like 1:2,5. here is the reason to my madness: I looked at D1 and I saw that after the BUEB, yesterday closed as a HH/HL candle. That told me there were bulls in the market. {image} Then I looked at H4 and I saw a breakout of a range/ inside bars, and I love range breakouts. That told me there were bulls in the market. {image} And lastly, H1 showed the definition of the tend. That told me there were bulls in the market. {image} So three time frames showed bullish signs. To me, that is a...
D1, H4, H1... are you sure you were trading on M5?
  • #3,769
  • Apr 10, 2018 11:45am Apr 10, 2018 11:45am
Quoting strat
Trading Psychology {quote} Thank you. You are very smart........

Whow...praise from my coach....Should I jump up and down or should I get me a drink... anyhow.. I am just a ordinary newbie..but like to focus more trading psychology, cos I figured its what makes me successful in longer term or not. And the simplicity of your method (eventhough lot of reading) attracted me to this thread.And I am really happy to come across this one. Also I know when I start posting my trades one day (not taken a single trade yet) thats the day I will have to take in many straticisms. ha ha.Looking forward to it...

Suranga
Focus, Patience, Discipline, Determination and Perseverance
  • #3,770
  • Apr 10, 2018 11:47am Apr 10, 2018 11:47am
Quoting strat
GBPUSD & NZDUSD M5 PASR Trend Trading {quote} So, stand back and look at those two charts. Can you SEE the difference between them? Which one is trending SMOOTHLY? Which one is JERKING up and down?
Yes, now I see what you mean. I thought breakoing oiut of that M5 consolidation was a good chart to trade. I'll pay more attention next time.

Quoting strat
GBPUSD & NZDUSD M5 PASR Trend Trading {quote} You have more time on your hands than COMMON SENSE
If only you knew how wrong you are about this statement! I must be the busiest trader/person on this forum. But my job includes staring at the PC for an entire day, and also at lots of babes. That is why I was able to gaze into the monitor for 8 hours, but the price I had to pay is that I completely neglected my job. So it is not a win-win situation.

Quoting strat
GBPUSD & NZDUSD M5 PASR Trend Trading {quote} GET A LIFE!
Oh, come on, coach, you can do better than that! That is not the 'harsh words' treatment that I was expecting. It is still a mild breeze.

Thanks for the reply and for the patience you have!
  • #3,771
  • Apr 10, 2018 11:50am Apr 10, 2018 11:50am
Quoting darko2010
{quote} D1, H4, H1... are you sure you were trading on M5?
You are right, the old 'technical ME' is still inside. I need more time to fully grasp Strat's M5 method.
  • #3,772
  • Apr 10, 2018 12:01pm Apr 10, 2018 12:01pm
Quoting catalin_eros
{quote} You are right, the old 'technical ME' is still inside. I need more time to fully grasp Strat's M5 method.
M5 PASR Trend Trading:

Timeframes:

1. H4 = S/R levels only.

2. H1 = S/R levels only.

3. M5 = S/R levels & Entry.


Happy Trading,
Yomi.
Time always comes before price
  • #3,773
  • Apr 10, 2018 12:42pm Apr 10, 2018 12:42pm
EURJPY PASR

Big Boss, Boss, Worker are going UP
Boss is breaking out of WCC
Worker will probably close above strat shadow

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Attached Image (click to enlarge)
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Would having a Buy Stop above today high, SL 160 pips and target at next Monthly resistance be a valid setup ?
  • #3,774
  • Edited 1:18pm Apr 10, 2018 1:00pm | Edited 1:18pm
Quoting catalin_eros
{quote} It was more than 1:2, SL of 20 pips and TP of 50. So like 1:2,5. here is the reason to my madness: I looked at D1 and I saw that after the BUEB, yesterday closed as a HH/HL candle. That told me there were bulls in the market. {image} Then I looked at H4 and I saw a breakout of a range/ inside bars, and I love range breakouts. That told me there were bulls in the market. {image} And lastly, H1 showed the definition of the tend. That told me there were bulls in the market. {image} So three time frames showed bullish signs. To me, that is a...
Attached Image (click to enlarge)
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What you are doing is fine for longer term trading but NOT for M5 trading

There are 288 M5 candles in ONE daily candle. Using an average of 10 candles in an M5 trend this means the trend can reverse 28 times in ONE daily candle.
There are 48 M5 candles in ONE H4 candle. Using an average of 10 candles in an M5 trend this means the trend can reverse 4.8 times in ONE H4 candle.
There are 12 M5 candles in ONE H1 candle. Using an average of 20 candles in an M5 trend this means the trend can reverse 1.2 times in ONE H1 candle.

I am not so clever that I can differentiate from these longer time frames what PRICE will do on M5.....................maybe you are.

Look at your H1 chart where you rightly say it is bullish. There are 4 RED H1 candles in the blue ellipse at the top that I have highlighted. Using your approach, you would have traded M5 long to empty your trading account.

Attached Image (click to enlarge)
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As I am now fed up of posting, M5 is a beast unique to itself and WILL, AND DOES, twist and turn up and down in all those longer time frames.

Unlike most M5 strategies, MY M5 PASR Trend Trading strategy is CONSISTENTLY PROFITABLE as proven by not only me but by fxrabbi, BeyondTheSea, darko2010, Rufus, saad007 and others - IT IS NOT BROKEN - why try to fix it? Why try to reinvent the wheel? Why experiment with a longer time frame strategy?
15 YEARS OF PASR ON FOREX FACTORY!
  • #3,775
  • Apr 10, 2018 1:15pm Apr 10, 2018 1:15pm
EURJPY Long Term

Quoting Bestof27
EURJPY PASR Big Boss, Boss, Worker are going UP Boss is breaking out of WCC Worker will probably close above strat shadow {image} {image} {image} Would having a Buy Stop above today high, SL 160 pips and target at next Monthly resistance be a valid setup ?
Thank you for posting longer term charts.

Would having a Buy Stop above today high, SL 160 pips and target at next Monthly resistance be a valid setup ?

Only if you are the eternal optimist!

Big Boss: PRICE is moving up off support in a DOWN swing - H, L, LH

Boss is breaking out of WCC

Go back and read, learn and understand my Weekly Control Candles

Worker will probably close above strat shadow

Please immediately airfreight a duplicate of the crystal ball you have got so that I can make these predictions also.

Based on this, PRICE ""may"" test Boss resistance at BRN 135 before going back to obeying its Boss, the BIG Boss.

This would be better traded on H4 or H1.
15 YEARS OF PASR ON FOREX FACTORY!
  • #3,776
  • Apr 10, 2018 2:29pm Apr 10, 2018 2:29pm
Quoting fxrabbi
{quote} M5 PASR Trend Trading: Timeframes: 1. H4 = S/R levels only. 2. H1 = S/R levels only. 3. M5 = S/R levels & Entry. Happy Trading, Yomi.
Thank you, Yomi! You are great at it. You inspire many, including myself.
  • #3,777
  • Apr 10, 2018 2:31pm Apr 10, 2018 2:31pm
Quoting strat
EURJPY Long Term {quote} Thank you for posting longer term charts. Would having a Buy Stop above today high, SL 160 pips and target at next Monthly resistance be a valid setup ? Only if you are the eternal optimist! Big Boss: PRICE is moving up off support in a DOWN swing - H, L, LH Boss is breaking out of WCC Go back and read, learn and understand my Weekly Control Candles Worker will probably close above strat shadow Please immediately airfreight a duplicate of the crystal ball you have got so that I can make these predictions also. Based on this,...
Sorry Strat but I need to be sure that I understand

Big Boss => PRICE is moving up off support in a DOWN swing : is it ok on my chart ?

Attached Image (click to enlarge)
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Boss : Bar3 is WCC, bar0 must close above Bar3 High to consider we have a WCC break out
  • #3,778
  • Apr 10, 2018 2:40pm Apr 10, 2018 2:40pm
Quoting strat
{quote} {image} What you are doing is fine for longer term trading but NOT for M5 trading There are 288 M5 candles in ONE daily candle. Using an average of 10 candles in an M5 trend this means the trend can reverse 28 times in ONE daily candle. There are 48 M5 candles in ONE H4 candle. Using an average of 10 candles in an M5 trend this means the trend can reverse 4.8 times in ONE H4 candle. There are 12 M5 candles in ONE H1 candle. Using an average of 20 candles in an M5 trend this means the trend can reverse 1.2 times in ONE H1 candle. I am not...
First of all, thanks for taking time to reply with such an elaborate answer!

About hat ellipse, my first position was actually on the red candle after the shooting star. Luckily, I managed to get out with BE, minus 3 pips. Now I understood the difference between the NU and GU that you were talking about. That difference made the difference between winning and losing.

I know your M5 method is not broken, it is my old trading mentality that is broken. Actually, it is not broken when , as you said, I am trading longer time frames, but it is broken when it comes to applying the same principles on M5. I know I have to make adjustments and, like so many others who succeeded with M5, I am working on it.

By the way, what happened to Saad? When you become profitable with a system learned from someone else, you have to stick for a longer while on the thread and help others, just like the persons that you mentioned have been doing so far, out of which, Yomi is my favorite, and one of the earliest who succeeded.

Thank you for your patience!
  • #3,779
  • Apr 10, 2018 2:47pm Apr 10, 2018 2:47pm
Quoting catalin_eros
{quote} NU asked for a rematch. Challenge accepted! {image}
After a nap, I closed the NU shop, with only one add on to the initial entry.
Attached Image (click to enlarge)
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  • #3,780
  • Apr 10, 2018 3:35pm Apr 10, 2018 3:35pm
Wow this is a busy place these days Strat !
And all this 5 minutes stufff going on, I cant keep up!

I’m long GBP USD since last night. You can see the trigger on the chart - a pullback into the trat shadow, break of a pullback line...and lets see
how we go. I dont ask for much from the markets esp on this as it is maybe hitting resistance, a little turbulence soon.[attach]GBPUSDDaily copy.png;2755569
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If you can wait and not be tired by waiting...
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