DislikedEUR USD Worker Yesterday price formed a shooting star (wick stopped at resistance). Let’s se if that was the end of the correction move and the continuation of the downmove. BB and B are looking bearish to me, too. {image}Ignored
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Strat's PASR Long Term, Stress Free Trading
EURJPY M5 PASR Trend Trading {quote} But I found beautiful reaction on the cloud There is no ""cloud"" in PASR - it is the ""Strat Shadow"" I should always wait 40-50 mins after opening London as I indicated by an arrow? No, wait for 1 hour after London Open as per my previous posts (unless you are very experienced with my M5 PASR Trend Trading strategy) see if he will follow London! New York did not follow London so no trade for me in PST Well done, it seems you are getting the idea of my M5 PASR Trend Trading strategy
I wanted to ask you for a simpler beginner with M5 PASR Trend Trading, or Long Term PASR ... but I now love your M5 strategy!
Your method is very visual, inspiring, simple. But I must have experience now.
I have never waited 1 hour after London Open, and yet for the moment I have no losing trade with nice ratio!
(I find the most complex is to quickly visualize multiple pairs at the same time to choose the best ones for the morning.)
But I still wait 1 hour now, and when I'm experienced I'll start sooner!
It must not be easy for you to apply your method? with the PST time, we can not trade London, nor the beginning of NY?
- #4,843
- May 15, 2018 3:57am May 15, 2018 3:57am
Greetings to you guys.
Just observed something interesting developing in the USD/CHF pair and thought i should share.
The big boss has been on a bullish run likewise the Boss and Worker too.
It has come to a major Resistance at the BRN 1.000ish. From the chart, we can see that it has an history with this area and since it will take another two weeks for the candle to close, we shift to the Boss.
The Boss as we can see has a further history with this SR level which dates back to 2008( that is as far back as my chart can show me)
Even as recently as last year , it took a huge 800+ pips tumble southward at this level. Presently we can see the dojis lining up at the same level already.
The Worker as expected is tugging along on the same path. We can see this in the increasing small size spin bars and dojis which it has been forming for some days now especially since getting around this SR zone.
But since we trade only what the charts shows us and not what we are imagining or hoping,
We wait for PA to enter a trade. I also know that Strat has warned us to avoid CHF pairs if we can.
This is where i need the help of our seniors.
Though the MA's (Strat Shadow) seem to support the bullish bias, do i need to wait for the Boss candle to close or do i look for PA on the Worker alone, to place a trade?
Just as it is possible for the Resistance to be broken, so also it can hold its ground and push price downward.
Wait for PA only
Thank you
Just observed something interesting developing in the USD/CHF pair and thought i should share.
The big boss has been on a bullish run likewise the Boss and Worker too.
It has come to a major Resistance at the BRN 1.000ish. From the chart, we can see that it has an history with this area and since it will take another two weeks for the candle to close, we shift to the Boss.
The Boss as we can see has a further history with this SR level which dates back to 2008( that is as far back as my chart can show me)
Even as recently as last year , it took a huge 800+ pips tumble southward at this level. Presently we can see the dojis lining up at the same level already.
The Worker as expected is tugging along on the same path. We can see this in the increasing small size spin bars and dojis which it has been forming for some days now especially since getting around this SR zone.
But since we trade only what the charts shows us and not what we are imagining or hoping,
We wait for PA to enter a trade. I also know that Strat has warned us to avoid CHF pairs if we can.
This is where i need the help of our seniors.
Though the MA's (Strat Shadow) seem to support the bullish bias, do i need to wait for the Boss candle to close or do i look for PA on the Worker alone, to place a trade?
Just as it is possible for the Resistance to be broken, so also it can hold its ground and push price downward.
Wait for PA only
Thank you
{quote} My advice is that you only trade money you can afford to lose, there is no escaping black swans as they are by definition unpredictable. I always take out a fixed amount money out of my trading account each month so that, if I am consistently profitable, I will eventually only risk my profits and not my capital. On the other hand, if my trading sucks, it means I have less to lose to the market.
Focus, Patience, Discipline, Determination and Perseverance
- #4,848
- May 15, 2018 5:04am May 15, 2018 5:04am
- | Joined Apr 2010 | Status: Trader | 1,025 Posts
{quote} Its good advice Darko, I have long way to get there . I hope I could one day.being consistently profitable. fingers crossed
- #4,853
- May 15, 2018 7:51am May 15, 2018 7:51am
- Joined Feb 2009 | Status: Illegitimi non carborundum | 3,526 Posts
Well....Started with a EURCAD was moving nice then some unexpected NAFTA news hit. Closed it out for a few pips profit. It is the unexpected things like this that keeps you on your toes when trading the 5m.
Illegitimi non carborundum - Noli pati a scelestis opprimi.
- #4,854
- May 15, 2018 7:51am May 15, 2018 7:51am
- Joined Aug 2010 | Status: EsikeTrader | 2,227 Posts | Online Now
Time always comes before price
- #4,855
- May 15, 2018 7:55am May 15, 2018 7:55am
- Joined Feb 2009 | Status: Illegitimi non carborundum | 3,526 Posts
EURUSD
Took 30 pips out of it. Closed at support and time for me to get ready for the day....
Took 30 pips out of it. Closed at support and time for me to get ready for the day....
Illegitimi non carborundum - Noli pati a scelestis opprimi.
- #4,856
- May 15, 2018 8:00am May 15, 2018 8:00am
- Joined Feb 2009 | Status: Illegitimi non carborundum | 3,526 Posts
GBPCAD
NOT saw tooth pattern. Looks like a squirrel hopped up on caffeine .
NOT saw tooth pattern. Looks like a squirrel hopped up on caffeine .
Inserted Video
Illegitimi non carborundum - Noli pati a scelestis opprimi.
- #4,858
- May 15, 2018 8:30am May 15, 2018 8:30am
Seems like I am the only one trading Daily with all these M5 charts!
This is a trade I took this morning which I didn't have time to post till now.
Although Boss closed with a nice hammer, Big Boss is still showing downward momentum with nothing in its way.
On the worker chart, a DBHLC/BEEB on yesterday's close at the LOW of the WCC tells me the Big Boys still have some momentum left. Very glad that it is working out well so far.
Will close this trade soon as the Boss is warning a reversal coming...
This is a trade I took this morning which I didn't have time to post till now.
Although Boss closed with a nice hammer, Big Boss is still showing downward momentum with nothing in its way.
On the worker chart, a DBHLC/BEEB on yesterday's close at the LOW of the WCC tells me the Big Boys still have some momentum left. Very glad that it is working out well so far.
Will close this trade soon as the Boss is warning a reversal coming...
- #4,859
- May 15, 2018 8:38am May 15, 2018 8:38am
- Joined Feb 2009 | Status: Illegitimi non carborundum | 3,526 Posts
{quote} Good morning everybody
As for gaining experience. For me it is just looking at charts and working on training your mind what you are looking for. Then ask questions to yourself or in the thread. I think you were also asking what is simpler to gain experience??? For me it has been looking at charts and trading small. Small amounts of money. Timeframe is a personal preference. 5m for me is a little more difficult, same time zone as Strat. There is either a trade or there isn't, and because of the short time I have available in the morning I usually don't see a 5m trade. So I have been spending a lot of time on the high time frame PASR.
Hopefully that helps
Illegitimi non carborundum - Noli pati a scelestis opprimi.
- #4,860
- May 15, 2018 8:45am May 15, 2018 8:45am
- Joined Feb 2009 | Status: Illegitimi non carborundum | 3,526 Posts
Illegitimi non carborundum - Noli pati a scelestis opprimi.