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Strat's PASR Long Term, Stress Free Trading

  • #4,721
  • May 10, 2018 6:36am May 10, 2018 6:36am
It's pure manipulation by the market makers and that's why I prefer to stay on the sidelines before, during and shortly after red news. Trying to trade intraday in those conditions is just gambling.
  • #4,722
  • Edited 8:03am May 10, 2018 7:48am | Edited 8:03am
Quoting MikuSS
Thank you everyone for the comments. Firstly, do not worry as i will not trade chf(i was in Switzerland when they unpegged the rates, even the everyday life is affected). It is not a freely trade instrument. Secondly, it was purely a technical analysis. The R:R wasnt that good in the first place. I wanted to see how other traders would view this chart. To be frank, Strat has been asking us to look beyond the candle, looking for a good trade. I used to think that his method was trading PASR at SR zones, but not anymore. I understand that we are doing...

You are on the right path.

Remember Strat also told us that 90 or 95% of trading success is how we handle trading psychology....the little people.

Harmony is good. We like it in our trading and life.

Inserted Video



Something that has interested me.

How can schools of fish move in harmony at exact moments. Or flocks of birds. Now you have metronomes.

Gustav Le Bon's book. Madness of crowds covers some topics that show people doing the same. Crowds/ money moves markets, here we are all sitting at computers yet we function as crowds. Yet the crowds are usually wrong. At some point in the move the profitable trader steps away from the crowd and simply becomes amused at the insanity, then looks for the next place the crowd will jump on board and take a profit.

Rufus
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #4,723
  • May 10, 2018 8:08am May 10, 2018 8:08am
LeBon ….. About crowds. Mass psychology of crowds

“Whoever be the individuals that compose it, however like or unlike be their mode of life, their occupations, their character, or their intelligence, the fact that they have been transformed into a crowd puts them in possession of a sort of collective mind which makes them feel think, and act in a manner quite different from that in which each individual of them would feel, think, and act were he in a state of isolation.”


People change when they join crowds. They become more credulous and impulsive, anxiously search for a leader, and react to emotions instead of using their intellect. An individual who becomes involved in a group becomes less capable of thinking for himself.


Watching a chart is watching crowd psychology. 1000's of traders are in this group. Most are following along as a crowd, making emotional decisions like the above explains. People tend to be more comfortable acting and/or being with a crowd. To be a successful trader we have to break away from this crowd mentality. When was the last time you saw a mob of people make sound decisions? Yet that is what traders will try to do once their emotions are in step with those of the mass of traders that are in this crowd. Our thought have to remain independent of the masses. When this happens our positions in the market will be ready when the masses take price and run away with it. We just sit back and collect pips.

Just some thoughts.

Ps.
I also put social media into crowd psychology.
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #4,724
  • May 10, 2018 9:33am May 10, 2018 9:33am
GBPCHF

Quoting MikuSS
Hi all, As per recommendation, I have removed all SR lines and changed my template resembling the one Strat is using right now. A BUEB has presented itself with GBPCHF. From a technical point of view, what do you think about going long now? BB: UPswing B: UPswing, around the 200ema area Worker: Strat Shadow seems to be trending well. Price retested the lows and closed as BUEB yesterday, rejecting 200ema of the Boss chart (seen as 1000ema here). {image} My concerns are: 1) We will be trading into an immediate area of resistance, something we avoid...
As others have said, I have removed all CHF pairs from my chart Profiles but just purely as an analysis:

Big Boss is at resistance

Boss in a pull back from resistance

Worker is pulling back to test support with a H-L-LH-LL-LH structure

We will be trading into an immediate area of resistance, something we avoid in basic PSAR. (Is this allowed in trend PSAR?)

I have no clue what PSAR is

Price is around 200ema on Boss chart

So? Statements mean nothing without reason and discussion
15 YEARS OF PASR ON FOREX FACTORY!
  • #4,725
  • May 10, 2018 9:35am May 10, 2018 9:35am
Quoting Rub
I set a pending order on this this morning in accordance with my weekend analysis, which triggered after London open. I can see a couple of flaws with taking it, like being at strat shadow support on boss, however have at it people! Pick apart the trade. {image} {image} {image}
Well that news event has certainly helped your short Rub!
Looks like the big boys want the pound a little lower. Days not over yet but it'll take some serious buying to get that back above support today.
Study enough and it all starts looking like the Matrix...
  • #4,726
  • May 10, 2018 9:42am May 10, 2018 9:42am
GBPCAD

Quoting Rub
I set a pending order on this this morning in accordance with my weekend analysis, which triggered after London open. I can see a couple of flaws with taking it, like being at strat shadow support on boss, however have at it people! Pick apart the trade. {image} {image} {image}
Well done, Rub.

I can see a couple of flaws with taking it, like being at strat shadow support on boss

And........................PRICE at confluence of support on all 3 of our time frames and 200 ema on the Worker

You obviously have a higher RISK tolerance than me but as long as that is OK with your Money Management then you are good.
15 YEARS OF PASR ON FOREX FACTORY!
  • #4,727
  • May 10, 2018 9:47am May 10, 2018 9:47am
PASR

Quoting fleurdelys
{quote} Hello everybody (Bonjour Strat ^^ you speak French hihi!) Oh sorry I did not read this message yesterday! Your mother had cancer? Best thought. I find that there are many ... too much! You say true .... doctors are often wrong. And I think, as for trading, phycology, the positive state of mind of the patient is very very important. Always be happy to have what you have. Have a strong mind! --------------- I'm stupid today! A real donkey. My entry on JPY CHF is not good, I think and ratio too low! I bought on the big green candle....
you speak French hihi!

Sadly no, just remembering my Grammar School French

M5 trading is NOT as easy as it looks on the charts posted here especially at the LIVE, moving hard right edge, so go back and read ALL my posts on my M5 PASR Trend Trading strategy before you really screw your M5 trading brain up.
15 YEARS OF PASR ON FOREX FACTORY!
  • #4,728
  • May 10, 2018 9:50am May 10, 2018 9:50am
EURJPY

Quoting MrBumpFx
Hi everyone. I'm staying on the sidelines for the moment. Not enough clear direction for me and too much red news on the horizon. I was tempted to go long with EUR-JPY but glad I didn't now. ^^ {quote} Thanks for the feedback, Strat. This is pretend money for the moment. I'm still making too many mistakes to go live with this.
I was tempted to go long with EURJPY

What was the temptation?
15 YEARS OF PASR ON FOREX FACTORY!
  • #4,729
  • May 10, 2018 10:10am May 10, 2018 10:10am
Quoting strat
EURJPY {quote} I was tempted to go long with EURJPY What was the temptation?
The red arrow on the chart. Rejection of the Strat shadow in an uptrend. But with looming red news for USD, I didn't take it.

Attached Image (click to enlarge)
Click to Enlarge Name: eurjpy-m5-trading-point-of.png Size: 77 KB
  • #4,730
  • May 10, 2018 10:18am May 10, 2018 10:18am
PASR

Quoting MikuSS
Thank you everyone for the comments. Firstly, do not worry as i will not trade chf(i was in Switzerland when they unpegged the rates, even the everyday life is affected). It is not a freely trade instrument. Secondly, it was purely a technical analysis. The R:R wasnt that good in the first place. I wanted to see how other traders would view this chart. To be frank, Strat has been asking us to look beyond the candle, looking for a good trade. I used to think that his method was trading PASR at SR zones, but not anymore. I understand that we are doing...
But I feel that I am lost.

Don't worry, that happens to ALL of us.

You have only been with us since April this year and you are already well on The Path and doing good.

PASR is not a set of rules for a given condition - it is a COMPLETE strategy for ALL Market conditions which takes thousands of hours studying thousands of charts applying what has been learned in both my threads. We have Basic PASR, Swing PASR and Trend PASR which can be used separately or all together DEPENDING on the Market conditions. When you feel lost, just focus on Basic PASR and trade that until you have mastered it and have consistent profits. Most get lost when they have little experience and try to trade everything they SEE.

Do we use LL,HH,LH,HL in our analysis?

Absolutely! This is Market Structure which is just a fancy name for PRICE ACTION

How can I look beyond the candle?

This may be too early for you at this stage of your learning but...................Instead of just seeing a candle, think of why that candle has its shape and proportions. Think of who/what made that candle. Who was in control - sellers or buyers? How does that candle fit in with the current trend/sentiment? What caused the body? What caused the wicks and tails? Where were the wicks and tails? Where is this candle, body, wick, tail in relation to the previous candle and candles? Where is that candle in relation to the immediate structure (Weekly Control Candle, Trend, Consolidation, Swing) etc.

Am I right on the path?

Yes, and you are doing good but remember, you can't eat an elephant in one bite, Rome was not built in a day and, understanding PASR is a Marathon, NOT a 100 metre dash.
15 YEARS OF PASR ON FOREX FACTORY!
  • #4,731
  • May 10, 2018 10:37am May 10, 2018 10:37am
I do not understand the search engine.
I want to look for the words "M5" AND "PASR" AND "London" for example.
I write "M5 PASR London" but he gives me "M5" AND/OR "PASR" AND/OR "London" !

I tried 'M5 PASR London' [MA PASR London] but still same problem.

Is there a solution to search as I am looking for?
Thanking you
Attached Image (click to enlarge)
Click to Enlarge Name: chercher.jpg Size: 166 KB
  • #4,732
  • May 10, 2018 11:21am May 10, 2018 11:21am
M5 PASR Trend Trading

Quoting fleurdelys
I do not understand the search engine. I want to look for the words "M5" AND "PASR" AND "London" for example. I write "M5 PASR London" but he gives me "M5" AND/OR "PASR" AND/OR "London" ! I tried 'M5 PASR London' [MA PASR London] but still same problem. Is there a solution to search as I am looking for? Thanking you {image}
Unfortunately the Search function on FF is very primitive and basic so is not much help for specific topics.

I posted to darko, saad007 and BeyondTheSea on which M5 posts to study so maybe they can dig those out.

Study all my M5 posts from Post # 480 onwards.
15 YEARS OF PASR ON FOREX FACTORY!
  • #4,733
  • May 10, 2018 11:23am May 10, 2018 11:23am
Quoting fleurdelys
I do not understand the search engine. I want to look for the words "M5" AND "PASR" AND "London" for example. I write "M5 PASR London" but he gives me "M5" AND/OR "PASR" AND/OR "London" ! I tried 'M5 PASR London' [MA PASR London] but still same problem. Is there a solution to search as I am looking for? Thanking you {image}
I already gave you this link, all you need is in Strat's message and the post numbers he indicates

https://www.forexfactory.com/showthr...6#post10778936
  • #4,734
  • May 10, 2018 11:26am May 10, 2018 11:26am
Quoting fleurdelys
I do not understand the search engine. I want to look for the words "M5" AND "PASR" AND "London" for example. I write "M5 PASR London" but he gives me "M5" AND/OR "PASR" AND/OR "London" ! I tried 'M5 PASR London' [MA PASR London] but still same problem. Is there a solution to search as I am looking for? Thanking you {image}
Fleur - To restrict the search to just this thread, use the search box top left of the screen.

Strat's post here is probably what you are looking for with regards to the first hour of the London open.
  • #4,735
  • May 10, 2018 12:39pm May 10, 2018 12:39pm
Since my first experience on this thread I have been reading and quietly keeping in the background. It's difficult to read through old thread trying to filter out all the relevant from non relevant stuff. Have I understood all I have read? NO. Have I been successful every trade I have taken?NO. Why is this so difficult? Looking back at charts everything is clear, it seems easy buy going up sell going down. I had a lovely EURAUD trade on a sell. Thought I had it all sussed out. Looked on higher time frames decided to go in after what I was looking for rejection candle on 4 hour chart, Sold at price 1.59249.and it went my way Yipeee I did it. Then stupid me had a take profit set for when I was away from my PC just in case. 27 pips I made. Well at least it was profit, but wait. Look at that pair where it is now. over 100 pips I could be sitting on. Bleh.
  • #4,736
  • May 10, 2018 12:44pm May 10, 2018 12:44pm
Quoting caledonia
Since my first experience on this thread I have been reading and quietly keeping in the background. It's difficult to read through old thread trying to filter out all the relevant from non relevant stuff. Have I understood all I have read? NO. Have I been successful every trade I have taken?NO. Why is this so difficult? Looking back at charts everything is clear, it seems easy buy going up sell going down. I had a lovely EURAUD trade on a sell. Thought I had it all sussed out. Looked on higher time frames decided to go in after what I was looking...
Coulda woulda shoulda...
What's the action point? What will change next in your trading? What have you learned and will implement going forward ?
  • #4,737
  • May 10, 2018 12:57pm May 10, 2018 12:57pm
Quoting caledonia
Since my first experience on this thread I have been reading and quietly keeping in the background. It's difficult to read through old thread trying to filter out all the relevant from non relevant stuff. Have I understood all I have read? NO. Have I been successful every trade I have taken?NO. Why is this so difficult? Looking back at charts everything is clear, it seems easy buy going up sell going down. I had a lovely EURAUD trade on a sell. Thought I had it all sussed out. Looked on higher time frames decided to go in after what I was looking...

Beating yourself up is not the answer. You took a position to profit. More importantly you learned something. Leaving profit on the table is at times more destructive mentally than taking a loss, so dont go down that road. Get a plan for each trade. If your plan was 40 pips profits and you collected 40 pips your plan was a success, regardless if it moved 200 pips without you.

Our little people yell loud enough don't help them
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #4,738
  • May 10, 2018 12:59pm May 10, 2018 12:59pm
Quoting darko2010
{quote} Coulda woulda shoulda... What's the action point? What will change next in your trading? What have you learned and will implement going forward ?
Looks like we hit that one with both barrels.
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #4,739
  • May 10, 2018 1:02pm May 10, 2018 1:02pm
Quoting strat
PASR {quote} In addition to the relevant comments from Svolacius, do this again BUT with separate charts for the Big Boss, Boss and Worker so that we can SEE
Hi Strat & Svolacius

Homework done. Below are my Big Boss, Boss and Worker Charts with the amended S/R lines...

Attached Image (click to enlarge)
Click to Enlarge Name: AudUsd SR Big Boss.PNG Size: 53 KB
Attached Image (click to enlarge)
Click to Enlarge Name: AudUsd SR Boss.PNG Size: 77 KB
Attached Image (click to enlarge)
Click to Enlarge Name: AudUsd SR Worker.PNG Size: 89 KB
  • #4,740
  • Edited 3:53pm May 10, 2018 2:43pm | Edited 3:53pm
EURJPY M5

Quoting MrBumpFx
{quote} The red arrow on the chart. Rejection of the Strat shadow in an uptrend. But with looming red news for USD, I didn't take it. {image}
Rejection of the Strat shadow

What? That is not a rejection - that is the Strat Shadow supporting PRICE

in an uptrend

Up trend - where do you SEE PRICE in an UP trend?

But with looming red news for USD, I didn't take it.

And what impact has $USD on EURJPY?
15 YEARS OF PASR ON FOREX FACTORY!
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