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Strat's PASR Long Term, Stress Free Trading

  • #3,781
  • Apr 10, 2018 6:44pm Apr 10, 2018 6:44pm
Quoting catalin_eros
{quote} 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...
By the way, what happened to saad007?

Well may you ask! Not only did I spend a lot of time with him on here but also privately as well. I made him into a consistently profitable trader hoping he would help others as is my mission on here. He took what I gave him and left, never to be heard of again, despite my attempts to contact him.

Karma will get him!
15 YEARS OF PASR ON FOREX FACTORY!
  • #3,782
  • Apr 10, 2018 11:48pm Apr 10, 2018 11:48pm
My GBPCAD BOSS Chart
Attached Image (click to enlarge)
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  • #3,783
  • Apr 11, 2018 12:33am Apr 11, 2018 12:33am
Quoting LuisRicardo
My GBPCAD BOSS Chart {image}
I learned something important from Strat the other day.

"To be consistently profitable at trading, whether it be Forex, stocks, futures and commodities, you have to keep an open mind and be flexible WITHOUT bias.

Expect the unexpected and you will not be surprised. "

So with this in mind. I make no prediction, have no bias. not even bullish or bearish. Nothing can be allowed to hinder my thinking. Once it does I am no longer flexible in my trading.

Now. If i take a long position it is because I had a long signal in a climbing market. If trade goes against me....I am not surprised. Then I can with a clear mind reevaluate. Was the signal valid? Should I watch for another long entry? Should I watch for a short? If I have an expectation or bias those questions may never cross my mind.

For the record. I understand, you are looking for longs. Might get a 1000 pips out of it. Might slice through all that support for a 1000 too. There is no cristal ball in trading.

To quote Yomi

Happy trading.
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #3,784
  • Apr 11, 2018 1:54am Apr 11, 2018 1:54am
GBPAUD 5M trade.

Pre-London open trade. Booked 25 pips.

Made up for the loss last night.
Attached Image (click to enlarge)
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  • #3,785
  • Apr 11, 2018 2:23am Apr 11, 2018 2:23am
Also long Gold / XAUUSD I think you can see the obvious entry point hammers from 5/6 April
this gold has a strong resistance up ahead so trade target is there for now but one day (and I think it won’t be long ) that’s gonna break!
Attached Image(s) (click to enlarge)
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If you can wait and not be tired by waiting...
  • #3,786
  • Apr 11, 2018 2:55am Apr 11, 2018 2:55am
Good morning Europe

A couple of quotes from the best book ever written about trading:

"I think it was a long step forward in my trading education when I realized at last that
when old Mr. Partridge kept on telling the other customers, "Well, you know this is a
bull market!" he really meant to tell them that the big money was not in the individual
fluctuations but in the main movements that is, not in reading the tape but in sizing up
the entire market and its trend."

"There is nothing like losing all you have in the world for teaching you what not to do.
And when you know what not to do in order not to lose money, you begin to learn what
to do in order to win. Did you get that? You begin to learn!"
Attached File(s)
File Type: pdf Reminiscences of a Stock Operator.pdf   1.7 MB | 620 downloads
  • #3,787
  • Apr 11, 2018 3:48am Apr 11, 2018 3:48am
USDCAD

Good morning,

I wasn’t able to post for a while (run short of time) but I was trying to read this thread which is getting faster and faster.
Although 5 min seems to be pretty actual here I would like to post my 3 time frame analysis.
(Beside that: I am following the 5 minute discussion here too. )

BB: way show down to me.
B: LL and LH , so downtrend, too. Last swing down was confirmed last week.
W: price (4.4.) closed below WCC and also below the Strat shadow one day later. So I looked for a good entry (short) on a lower timeframe (H4), which I found at 9.4...

BB:
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B:
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W:
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  • #3,788
  • Apr 11, 2018 4:43am Apr 11, 2018 4:43am
Quoting Rufus
{quote} I learned something important from Strat the other day. "To be consistently profitable at trading, whether it be Forex, stocks, futures and commodities, you have to keep an open mind and be flexible WITHOUT bias. Expect the unexpected and you will not be surprised. " So with this in mind. I make no prediction, have no bias. not even bullish or bearish. Nothing can be allowed to hinder my thinking. Once it does I am no longer flexible in my trading. Now. If i take a long position it is because I had a long signal in a climbing market. If...
I don,t have open position and I'm waiting a signal, but understood what you say. No more bias, thanks.
  • #3,789
  • Apr 11, 2018 5:21am Apr 11, 2018 5:21am
Quoting Rufus
{quote} I learned something important from Strat the other day. "To be consistently profitable at trading, whether it be Forex, stocks, futures and commodities, you have to keep an open mind and be flexible WITHOUT bias. Expect the unexpected and you will not be surprised. " So with this in mind. I make no prediction, have no bias. not even bullish or bearish. Nothing can be allowed to hinder my thinking. Once it does I am no longer flexible in my trading. Now. If i take a long position it is because I had a long signal in a climbing market. If...
Using what learned from you. I was only waiting a long position, now I added support and prepared for taking short too. Thanks again.
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  • #3,790
  • Apr 11, 2018 7:51am Apr 11, 2018 7:51am
GBPJPY 5M

Two candles too late for the best entry
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  • #3,791
  • Apr 11, 2018 8:05am Apr 11, 2018 8:05am
Quoting darko2010
GBPJPY 5M Two candles too late for the best entry {image}
Hi, Darko!

I do not understand your entry, because I was under the impression that we need to see a trend in Asia. GJ was very crappy in Asia session, no clear direction, just bouncing up and down. Maybe I am not understanding the method again, or I am overcomplicatiing it.
  • #3,792
  • Apr 11, 2018 8:14am Apr 11, 2018 8:14am
Quoting catalin_eros
{quote} Hi, Darko! I do not understand your entry, because I was under the impression that we need to see a trend in Asia. GJ was very crappy in Asia session, no clear direction, just bouncing up and down. Maybe I am not understanding the method again, or I am overcomplicatiing it.
See my answer on post 3560
  • #3,793
  • Apr 11, 2018 8:16am Apr 11, 2018 8:16am
Quoting catalin_eros
{quote} Hi, Darko! I do not understand your entry, because I was under the impression that we need to see a trend in Asia. GJ was very crappy in Asia session, no clear direction, just bouncing up and down. Maybe I am not understanding the method again, or I am overcomplicatiing it.
or I am overcomplicatiing it

Not necessarily anything to do with Asia. A trend was started with London and Darko jumped on the train.
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #3,794
  • Apr 11, 2018 8:20am Apr 11, 2018 8:20am
Quoting darko2010
GBPJPY 5M Two candles too late for the best entry {image}

Looking like you guys had the fun on your side of the world.
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #3,795
  • Apr 11, 2018 8:23am Apr 11, 2018 8:23am
Quoting Rufus
{quote} Looking like you guys had the fun on your side of the world.
Nope, that wasn't a fun morning... Complete sh** show since 8am UK, the GBPJPY trade was probably an act of mercy by the Queen
  • #3,796
  • Apr 11, 2018 8:48am Apr 11, 2018 8:48am
Everybody Standby

I hope I am welcome back on the thread. I have read the old thread twice,and did my very best to demonstrate how not paying attention can decimate ones account.

In trying to trade London open, on 15min chart and using a method not dissimilar too PASR, but certainly not PASR, I managed to suffer a 50% draw down, which was largely achieved by dicking around on my mobile last week Friday ( NFP) and my stops were not captured ( cell coverage was off) so lo and behold, annihilation and the prospect of impecunity on a level which even I am not used to.

So with my tail between my legs and basically having my capital netured, I made the decision that I can not babysit my trades all day and that daily PASR is the logical alternative to clearing my ears out with a shotgun.
So in the spirit of compliance I even changed the color of my screen to reflect I hope, a clearer picture.
I attach Usd/Cad daily. the big bearish engulfingbar that formed on on 9 April, was my short trigger. Its between the two blue lines, Boss and Big boss all reflect this as the right trade.

The one thing I learnt is that the setups are obvious. Very obvious. you dont even have to look for them. They find you. Trying to squeeze a "maybe " set up on shorter time frames, and sacrificing your first born child as offering to the trading deity, is a sign of a low IQ.
I hope I got it right.
Attached Image (click to enlarge)
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  • #3,797
  • Apr 11, 2018 9:10am Apr 11, 2018 9:10am
Quoting pippoacher
Everybody Standby I hope I am welcome back on the thread. I have read the old thread twice,and did my very best to demonstrate how not paying attention can decimate ones account. In trying to trade London open, on 15min chart and using a method not dissimilar too PASR, but certainly not PASR, I managed to suffer a 50% draw down, which was largely achieved by dicking around on my mobile last week Friday ( NFP) and my stops were not captured ( cell coverage was off) so lo and behold, annihilation and the prospect of impecunity on a level which even...
I don't know what to say dude other than...DON'T TRADE ON YOUR F***ING PHONE.

I know a trader who about killed people with his car trying to close positions while driving.

STRATS #1 RULE....Capital preservation.

Sometimes I hate cell phones. You have a lot of power at your disposal. Often it is abused. Social media gladiators, trading, to being blind to the world around you.

Not a day goes by where I am not yelling a someone to get off their phones and go to work.

I will stop my ranting.
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #3,798
  • Apr 11, 2018 9:15am Apr 11, 2018 9:15am
Quoting Rufus
{quote} I don't know what to say dude other than...DON'T TRADE ON YOUR F***ING PHONE. I know a trader who about killed people with his car trying to close positions while driving. STRATS #1 RULE....Capital preservation. Sometimes I hate cell phones. You have a lot of power at your disposal. Often it is abused. Social media gladiators, trading, to being blind to the world around you. I will stop my ranting.
Mate, I couldnt agree more. but my former strategy is incompatible with the time I have at my disposal.
It isnt a rant if its true lol
  • #3,799
  • Apr 11, 2018 9:45am Apr 11, 2018 9:45am
One trade for today with R:R 1:3

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  • #3,800
  • Apr 11, 2018 9:47am Apr 11, 2018 9:47am
Quoting bistolis
Good morning Europe A couple of quotes from the best book ever written about trading: "I think it was a long step forward in my trading education when I realized at last that when old Mr. Partridge kept on telling the other customers, "Well, you know this is a bull market!" he really meant to tell them that the big money was not in the individual fluctuations but in the main movements that is, not in reading the tape but in sizing up the entire market and its trend." "There is nothing like losing all you have in the world for teaching you what not...
All this reading is good, even better if it is about Trading Psychology BUT it will not make you a better trader. You need to put into practice what you have learned and JUST DO IT. Over all these 9+ years I have been on here, the students who progress to being consistently profitable are the ones who trade and post their trades, good or bad, until they are "straticised". There are good examples of this already on this thread. JUST DO IT rather than read about it!
15 YEARS OF PASR ON FOREX FACTORY!
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