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Strat's PASR Long Term, Stress Free Trading

  • #4,561
  • May 6, 2018 12:46pm May 6, 2018 12:46pm
USDCAD

Quoting MikuSS
{quote} But WHY is this happening? Is it because price is consolidating and waiting for a clear trend to develop?
But who moves PRICE?
15 YEARS OF PASR ON FOREX FACTORY!
  • #4,562
  • May 6, 2018 6:33pm May 6, 2018 6:33pm
Quoting strat
USDCAD {quote} But who moves PRICE?

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"I made up my mind, but I made it up both ways."

Casey Stengel

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Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #4,563
  • May 7, 2018 3:09am May 7, 2018 3:09am
Quoting Humbucker
{quote} Entry is a BUEB? Good trade
Yeah, it was also a breakout of minor resistance. The decision to go long was also based on the strong uptrend that had started in the Asian session. But as Strat commented, ahead of red news, it wasn't really a good idea. ^^
  • #4,564
  • May 7, 2018 7:40am May 7, 2018 7:40am
Hi Strat (and others),


Practiced some paper trading today (F12). But need to figure out a way to add S/R levels without looking at the right side of the chart. If I try to add S/R lines for historical charts then I see the right side of the chart.then it's no point in practicing paper trading, because I already know what happened. If you have any suggestions pls let me know.I need to train my mind to play at the moving hard right edge.

Btw : also took one or two of losers as well..


Happy trading...

Suranga
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Focus, Patience, Discipline, Determination and Perseverance
  • #4,565
  • May 7, 2018 9:05am May 7, 2018 9:05am
Quoting Suran
Hi Strat (and others) But need to figure out a way to add S/R levels without looking at the right side of the chart. If I try to add S/R lines for historical charts then I see the right side of the chart.then it's no point in practicing paper trading, because I already know what happened. If you have any suggestions pls let me know.
A trading simulator solves this problem. With a simulator, you can "forward test" historical data as though it was in realtime. I'm currently trading the EUR-JPY from 2012, for example. You can pause the action, place your S/R lines (without seeing the future), and then continue. There are several sims to choose from. Some free, some paid. Google it and/or search this forum. I'm sure you'll find what you're looking for.
  • #4,566
  • May 7, 2018 9:11am May 7, 2018 9:11am
Quoting MrBumpFx
{quote} A trading simulator solves this problem. With a simulator, you can "forward test" historical data as though it was in realtime. I'm currently trading the EUR-JPY from 2012, for example. You can pause the action, place your S/R lines (without seeing the future), and then continue. There are several sims to choose from. Some free, some paid. Google it and/or search this forum. I'm sure you'll find what you're looking for.
Hi MrBumpFx,

Yes, I tried simulator, But you cannot switch to H1 ,H4 charts to add S/R lines isn't?

My be I will,
1. Add the S/R line before the London open every day and,
2. stop the scroll button in MT4

and practice using F12 every day after market close.

that will do the trick until I get some paper trading exp..
Focus, Patience, Discipline, Determination and Perseverance
  • #4,567
  • May 7, 2018 9:14am May 7, 2018 9:14am
Quoting Suran
Hi Strat (and others), Practiced some paper trading today (F12). But need to figure out a way to add S/R levels without looking at the right side of the chart. If I try to add S/R lines for historical charts then I see the right side of the chart.then it's no point in practicing paper trading, because I already know what happened. If you have any suggestions pls let me know.I need to train my mind to play at the moving hard right edge. Btw : also took one or two of losers as well.. Happy trading... Suranga {image} {image} {image} {image} {image}...
Hi
You can use tradingview's feature of replay , but you will have to zoom out to get SR levels. you cant switch timeframes. I guess you can have 2 charts open and do that if you pay monthly fee
  • #4,568
  • May 7, 2018 9:18am May 7, 2018 9:18am
Quoting bistolis
{quote} Hi You can use tradingview's feature of replay , but you will have to zoom out to get SR levels. you cant switch timeframes. I guess you can have 2 charts open and do that if you pay monthly fee
I will check it out Bistolis,

How much is monthly fee?

Thanks a lot..



P.S figured the monthly fee...
Focus, Patience, Discipline, Determination and Perseverance
  • #4,569
  • May 7, 2018 9:19am May 7, 2018 9:19am
Quoting Suran
{quote} Hi MrBumpFx, Yes, I tried simulator, But you cannot switch to H1 ,H4 charts to add S/R line isn't?
The sim has to support multiple timeframe charts which mine does. Each timeframe opens in a separate tab in MT4 as an offline chart and they obviously move forward in synchro. The only drawback is that if you draw a support line on the H4 chart, it won't automatically copy it over to the M5 chart for example because they are considered separate charts. But it really isn't a big deal to manually add the H4 levels on to the M5 chart. I mean it takes 30 seconds to do it right?
  • #4,570
  • May 7, 2018 9:26am May 7, 2018 9:26am
Quoting MrBumpFx
{quote} The sim has to support multiple timeframe charts which mine does. Each timeframe opens in a separate tab in MT4 as an offline chart and they obviously move forward in synchro. The only drawback is that if you draw a support line on the H4 chart, it won't automatically copy it over to the M5 chart for example because they are considered separate charts. But it really isn't a big deal to manually add the H4 levels on to the M5 chart. I mean it takes 30 seconds to do it right?
ahh.. that will do the trick..thanks
Focus, Patience, Discipline, Determination and Perseverance
  • #4,571
  • May 7, 2018 11:22am May 7, 2018 11:22am
One trade for today..
All the wrong trades forced me to focus on the details of each trade, every single candle. In this trade I was much more confident because I knew what was happening beyond the candles. We will see the next trades. However, giving a meaning to each candle made me notice how often the small differences between bid / ask charts (especially in the lower time-frames) can give a completely different meaning to what is happening.
Can the differences between bid / ask charts have an importance when choosing to open a trade? How important are these differences? What do you think about it?

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  • #4,572
  • May 7, 2018 11:36am May 7, 2018 11:36am
Good day All

I started drawing S/R lines on the AudUsd Big Boss chart (Line Chart)and then dropped down to the Boss Chart keeping the Big Boss S/R lines and adding to them on the Boss chart. It does seem to become congested with S/R lines over a long period. Please refer to the attached image for detail. I was wondering if I am going overboard with the S/R lines or is this the way to go about drawing S/R lines? For now I am only interested in identifying PA on Worker charts with higher time frame S/R lines in place.

Thanks...
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  • #4,573
  • Edited 1:49pm May 7, 2018 12:19pm | Edited 1:49pm
Quoting JCMPete
Good day All I started drawing S/R lines on the AudUsd Big Boss chart (Line Chart)and then dropped down to the Boss Chart keeping the Big Boss S/R lines and adding to them on the Boss chart. It does seem to become congested with S/R lines over a long period. Please refer to the attached image for detail. I was wondering if I am going overboard with the S/R lines or is this the way to go about drawing S/R lines? For now I am only interested in identifying PA on Worker charts with higher time frame S/R lines in place. Thanks... {image}
First of all, don't draw S/R lines for the whole Big Boss chart, I would get lost in there!
Only draw S/R lines for closest Support and Resistance levels relative to where the price is now. We don't care about 1.09 region if Price is at 0.75 right now, all those irrelevant lines will confuse you and WILL distract you (been there, done that).

Try to pick the levels which are tested again and again, these are really strong levels that generate great PA setups. If price touched a zone once, waited a little and continued with its direction, I don't usually draw lines to mark such zones.
  • #4,574
  • May 7, 2018 1:43pm May 7, 2018 1:43pm
EURCAD M5 PASR Trend Trading

Quoting Giannis95
One trade for today.. All the wrong trades forced me to focus on the details of each trade, every single candle. In this trade I was much more confident because I knew what was happening beyond the candles. We will see the next trades. However, giving a meaning to each candle made me notice how often the small differences between bid / ask charts (especially in the lower time-frames) can give a completely different meaning to what is happening. Can the differences between bid / ask charts have an importance when choosing to open a trade? How important...
Were you aware that it was a Bank Holiday on England?
15 YEARS OF PASR ON FOREX FACTORY!
  • #4,575
  • May 7, 2018 1:45pm May 7, 2018 1:45pm
Today seems like a good time to re-read some material, as I am looking to close my trades (GBP/CHF probably will turn out to be a loss, GBP/AUD will give me less pips as BUEB looks like a signal to close the trade).

I don't see any PA right now on my watchlist, so I will sit on my hands (or maybe lay them down on TITZ again..?) and watch the Big Boys.
  • #4,576
  • May 7, 2018 2:43pm May 7, 2018 2:43pm
Quoting strat
EURCAD M5 PASR Trend Trading {quote} Were you aware that it was a Bank Holiday on England?
No, simply I saw an opportunity with a good risk: reward and I took the trade.
  • #4,577
  • May 7, 2018 3:01pm May 7, 2018 3:01pm
GBPAUD

Quoting Svolacius
Today seems like a good time to re-read some material, as I am looking to close my trades (GBP/CHF probably will turn out to be a loss, GBP/AUD will give me less pips as BUEB looks like a signal to close the trade). I don't see any PA right now on my watchlist, so I will sit on my hands (or maybe lay them down on TITZ again..?) and watch the Big Boys.
I don't see any PA right now on my watchlist

Well I do with PRICE looking to test recent high!

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15 YEARS OF PASR ON FOREX FACTORY!
  • #4,578
  • May 7, 2018 3:25pm May 7, 2018 3:25pm
Quoting strat
GBPAUD {quote} I don't see any PA right now on my watchlist Well I do with PRICE looking to test recent high! {image}
I would consider today's engulfing bullish bar at SS bottom and support level a bullish signal. Wouldn't you? I was shorting this pair since 2nd of May, so this qualifies as exit signal to me. And possibly a long trade.
  • #4,579
  • May 7, 2018 3:26pm May 7, 2018 3:26pm
I've noticed you're now using a couple of lines to denote your S/R area now strat. Is that as more of a reminder they are zones? Are you drawing them more like supply demand methodology?
  • #4,580
  • May 7, 2018 4:40pm May 7, 2018 4:40pm
Quoting Rub
I've noticed you're now using a couple of lines to denote your S/R area now strat. Is that as more of a reminder they are zones? Are you drawing them more like supply demand methodology?
A combination of Big Boss, Boss and Worker SR gives areas/zones of support/resistance.
15 YEARS OF PASR ON FOREX FACTORY!
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