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Strat's PASR Long Term, Stress Free Trading

  • #4,961
  • May 17, 2018 11:52am May 17, 2018 11:52am
Quoting darko2010
{quote} That's what the EMAs are here for, among other things. I strongly recommend you take interest in what Strat is teaching, I am dazzled on a daily basis on what the Strat Shadow enables you to see Many other threads really come down to tossing a coin before choosing a side on a trade, even supply/demand or S/R/Wick analyses are really subpar compared to what one can learn here.
I've not looked at all the posts (my mistake, will work on that) and old thread's. so Don't know all what strat is showing. But What I've seen from fxrabbi, beyondthe sea and his (strat) posts have shown a very good method which I've recommended to other trader's. I trade in a similar way with a few moving avg's but I respect the thread and not posted those charts here as strat said to keep to his template.

Thanks and good luck.
It's in fear when people show what they truly value.
  • #4,962
  • May 17, 2018 12:54pm May 17, 2018 12:54pm
Quoting Humbucker
{quote} This is the main point that needs addressing: M5 PASR = Is it trending? Long term, stress-free trading = How is price behaving at S/R levels - the 2 approaches are not the same. For M5 I have posted about 5 trades on the forum and for long term PASR I am merely an interested reader right now and will graduate onto it at some point. It might not be a good idea to use my trades for study since I'm really new to this. Look at Darko and Yomi's posting on M5 for better learning opportunities. I think my entry was probably not a 100% 'classical'...

Hi Humbucker

Thank you for clarifying your reasoning around this trade. It certainly makes more sense to me now. I will look at Darko and Yomi's posts as suggested. Also thank you for referring me to Strat's post 480 explaining his entry method into the 5m PASR trade. Enter when price closes beyond StratShadow and support (In the example shown) and enter again on pullback with some price action. I will also look at the other posts mentioned by Fleurdelys before I attempt 5 Min PASR trades.

Pete
  • #4,963
  • May 17, 2018 12:58pm May 17, 2018 12:58pm
Quoting strat
PASR {quote} Well done! This approach to learning will help you take big steps along The Path I see Humbucker has replied which is also good. In your process of learning, understand that there is Basic PASR, Swing PASR and Trend Trading PASR so, while they are all based on PASR, they each have their own strategies, so keep them separate. Good job and do this again and again and again..............................until everything falls into place.

Thanks Strat...much appreciated.

Noted - Basic PASR, Swing PASR and Trend Trading PASR each with their own strategy - Do not mix the strategies!

Pete
  • #4,964
  • May 17, 2018 2:52pm May 17, 2018 2:52pm
Quoting strat
AUDNZD {quote} The Hanging man at resistance is a warning that a reversal may happen, but it needs confirmation... So let see what today daily candle has to say.... Yes, exactly. So what will you do after today's candle CLOSED? As per my too many lines I made some clean up... There is one line before and after the price for each time frame, can I improve it ? You still do not UNDERSTAND! You have 7 lines on your trading chart. Did you not look at my TRADING chart that I posted for you? Here it is again {image} Resistance ABOVE where PRICE is NOW...
My plan was to close my first position at first weekly resistance (done) and close my second one at monthly resistance .... but if there is a reversal signal (that I m able to recognize) I prefer to close with profit and if there is an opportunity (the reversal is more a pullback) open a new position. As for today if it closes as it is now I will keep my position open.

On your chart, why haven't you plotted the 1.0867ish daily level or the monthly 1.059ish level as nearer support instead of the weekly level below ?
  • #4,965
  • May 17, 2018 4:02pm May 17, 2018 4:02pm
AUDNZD

Quoting Bestof27
{quote} My plan was to close my first position at first weekly resistance (done) and close my second one at monthly resistance .... but if there is a reversal signal (that I m able to recognize) I prefer to close with profit and if there is an opportunity (the reversal is more a pullback) open a new position. As for today if it closes as it is now I will keep my position open. On your chart, why haven't you plotted the 1.0867ish daily level or the monthly 1.059ish level as nearer support instead of the weekly level below ?
First, the objective of trading PASR is to be consistently profitable and is never about being right or wrong. You are making money with this so that is good. If you UNDERSTAND all YOUR lines and they do not play havoc with your Little People then THIS is YOUR trading style. Keep doing this until it doesn't work.

On your chart, why haven't you plotted the 1.0867ish daily level or the monthly 1.059ish level as nearer support instead of the weekly level below ?

Because, I am trading the Boss Swings on the Worker. I don't care about daily or monthly levels - I don't worry about intermediate levels between Boss swings as they are almost always just "wobble" areas. All I concern myself with is the Boss Swing.

So, you see, we are both trading PASR but, with different trading styles. My style works for me, so just make sure YOUR style works for YOU.

For your information, here is where I entered my 2 trades on this tortoise. I closed both yesterday at the Hanging Man because the pip return for having my margin tied up for 23 days is way too low for me. I needed an "OUT" and this was it. Yes, I have left a little bit of money on the table but I don't care - we don't trade tops and bottoms in PASR

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15 YEARS OF PASR ON FOREX FACTORY!
  • #4,966
  • May 17, 2018 4:04pm May 17, 2018 4:04pm
Hi All!

Oww.... My head hurts now! (I think it's because I'm learning something already, ha ha!) I'm not a long time lurker here, just a week or three, I think. I'm just now getting into Forex trading, and though I've taken no trades in the last three weeks, I feel like I am going to learn a lot here. I look forward to being able to post charts and my analysis to go along with them before long... but first things first: I now need to get started on the old thread.

I live and work in the East Coast, sadly, my full time job has me working at the 9am open. Some days, things are quiet, and I am at my machine to study the charts.

In the mean time, happy trading, y'all!
  • #4,967
  • May 17, 2018 4:24pm May 17, 2018 4:24pm
PASR

Quoting dafyre
Hi All! Oww.... My head hurts now! (I think it's because I'm learning something already, ha ha!) I'm not a long time lurker here, just a week or three, I think. I'm just now getting into Forex trading, and though I've taken no trades in the last three weeks, I feel like I am going to learn a lot here. I look forward to being able to post charts and my analysis to go along with them before long... but first things first: I now need to get started on the old thread. I live and work in the East Coast, sadly, my full time job has me working at the 9am...
Welcome! I have seen you lurking below the thread everyday so it is GOOD that you finally came out as well as having a sense of humour!

The really good thing you have going for you is that you are a Forex Factory virgin and have not had your mind and trading brain altered and twisted by some of the "stuff" on here.

my full time job has me working at the 9am open

First things first, LEARN the trading hours of each geographical trading session

Attached Image


Second, get on The Path with my "old" original thread and then continue on here

Welcome again.
15 YEARS OF PASR ON FOREX FACTORY!
  • #4,968
  • May 17, 2018 4:32pm May 17, 2018 4:32pm
Spinning Top Candle

Quoting 2hpriest
{quote} Sir, What i meant by 'Spin bar' were those candle formations with body range that are too big to be called a doji yet too small to be an engulfing or outside bars relative to where they are located among other candles. It is obvious that description does not make any meaning here. Corrections noted. Back to the classroom. Thank you Emeka
Emeka, this is what a Spinning Top is:

Attached Image


If you get your Mark I eyeball out, you will SEE there is one on AUDNZD (Bof27, are you watching?)

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15 YEARS OF PASR ON FOREX FACTORY!
  • #4,969
  • May 17, 2018 5:08pm May 17, 2018 5:08pm
Quoting JCMPete
{quote} Hi Humbucker Thank you for clarifying your reasoning around this trade. It certainly makes more sense to me now. I will look at Darko and Yomi's posts as suggested. Also thank you for referring me to Strat's post 480 explaining his entry method into the 5m PASR trade. Enter when price closes beyond StratShadow and support (In the example shown) and enter again on pullback with some price action. I will also look at the other posts mentioned by Fleurdelys before I attempt 5 Min PASR trades. Pete
Attempt them before that - just on paper!!
  • #4,970
  • May 17, 2018 5:09pm May 17, 2018 5:09pm
Quoting strat
Spinning Top Candle {quote} Emeka, this is what a Spinning Top is: {image} If you get your Mark I eyeball out, you will SEE there is one on AUDNZD (Bof27, are you watching?) {image}
Is that something you pay attention to?
  • #4,971
  • May 17, 2018 5:19pm May 17, 2018 5:19pm
Spinning Top Candle

Quoting Humbucker
{quote} Is that something you pay attention to?
I pay attention to every single candle as I want to get into the heads of those making the candles. What PASR does not do though is trade on candles - we need all the other elements and conditions of PASR to come together before putting on a trade.
15 YEARS OF PASR ON FOREX FACTORY!
  • #4,972
  • May 17, 2018 9:28pm May 17, 2018 9:28pm
Monthly TF confirmed Swing Low
Weekly hitting support and have a Bullish candle and confirmed swing low also on weekly
and smaller timeframe have a lot of opportunities to long on this Pair

next week might still have a Bull Run but beware of the nearest ressistance at 111.xx
wait for weekly close first and pay attention to candle around ressistance
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  • #4,973
  • May 17, 2018 9:34pm May 17, 2018 9:34pm
Quoting strat
CADJPY {quote} Good, except for SL a few pips below the bullish bar If you want to be CONSISTENTLY PROFITABLE, your Stop Loss goes below the last Swing Low.
noted sir..will put it below last swing low or swing high for the next trade..

and really like your trading style about trading the Boss swing on worker Timeframe..
it is much more stress free...

not have a lot of success on 5 mins timeframe..bigger timeframe suits me more i think...
  • #4,974
  • May 18, 2018 12:31am May 18, 2018 12:31am
Quoting strat
Spinning Top Candle {quote} Emeka, this is what a Spinning Top is: {image} If you get your Mark I eyeball out, you will SEE there is one on AUDNZD (Bof27, are you watching?) {image}
No wasn't watching, bed time !

Didn't know about spinning top and bottoms. Is this reliable ?. Do we need confirmation to validate the pattern ?
In your drawings the marked candle has a different color than the previous one (bearish candle for a spinning top, bullish candle for a spinning bottom), is that relevant ?
  • #4,975
  • May 18, 2018 1:49am May 18, 2018 1:49am
Quoting strat
GBPAUD {quote} Bof27, Svolacius and MikuSS are spot on with their comments about SUPPORT. Boss closed below WCC, then formed a doji at the strat shadow the following week. You SAW it but that's all you did! UNDERSTAND what that gravestone like doji on the Boss is telling you. If you don't know ASK {image} Worker formed a small doji then a large down candle to below the strat shadow, without closing above the 20EMA, and testing support of worker shadow and support. You SAW support so why did you place a stop order to short below it? There is NOTHING...
You SAW it but that's all you did! UNDERSTAND what that gravestone like doji on the Boss is telling you. If you don't know ASK

Doji is indecision.

We ONLY drop down to H4 to get a better entry and better R:R AFTER we SEE a PASR Set Up on the Worker - There is NO SET UP on the Worker!

This is RANK AMATEUR trading destined to empty your trading account along with the other 95% LOSERS. Trade PASR!

What I saw was a signal on the 4hr after the bearish engulfing on the worker, that had enough room to get over the 1:1 risk reward. It is my fault for not setting a take profit. I did not expect it to close below the support. However, you're the egg spurt, and I am hopefully learning something!
  • #4,976
  • May 18, 2018 3:24am May 18, 2018 3:24am
Quoting strat
Spinning Top Candle {quote} Emeka, this is what a Spinning Top is: {image} If you get your Mark I eyeball out, you will SEE there is one on AUDNZD (Bof27, are you watching?) {image}
Sir, I appreciate your pictorial explanation of what a Spinning Top Candle is.
A further study of it , showed me that it is a single candle that forms at the PEAK of an uptrend, the BOTTOM of a downtrend or in the MIDDLE of a trend.
This bearish or bullish candle forms when there is INDECISION among the Buyers and Sellers in a downtrend, uptrend or sideways trend.
The pattern suggests a possible change in trend.
My understanding is that this becomes more probable with a collaborative PASR candle(SS,Hammer, Outside Bars or Engulfing Bars) for us to trade it.

So in the AUDNZD pair (waiting for your reply on my post), the presence of this candle at the top of the current swing should warn us to start taking in some profits on our long trades.

Your corrections are noted and the requisite knowledge intended has been impacted.
Thank you
Emeka
  • #4,977
  • May 18, 2018 5:00am May 18, 2018 5:00am
Hello everybody

This time, Is it a sawtooth?
I probably shorts a little late, but I wanted to wait break of the small support. Not easy to have a perfect trade

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  • #4,978
  • May 18, 2018 5:06am May 18, 2018 5:06am
Quoting strat
GBPUSD & GBPCAD M5 PASR Trend Trading {quote} I am disgusted! I have short GPB USD ... But I had an unexpected last minute, I had to leave my computer. I preferred to close my trade with mini loss. Don't be so hard on yourself! Why did you close this trade since you already had your protective Stop Loss in place? I see you traded EXACTLY 1 hour after London Open - were you anxious to trade? Are you living to trade? You should have WAITED to SEE that M5 trend develop and pull back before jumping in. Also, this pair is not a SMOOTH SAW TOOTHED BLADE...
Thank you for the sawtooth image!
I have to open my eyes!
Is it better today or not?

I live with trading
No, I'm zen when I'm trading.
But I'm afraid of "missing" the good entry...
And selecting the good pair at the beginning of the day is still not easy for me.
  • #4,979
  • May 18, 2018 5:14am May 18, 2018 5:14am
Quoting fleurdelys
Hello everybody This time, Is it a sawtooth? I probably shorts a little late, but I wanted to wait break of the small support. Not easy to have a perfect trade {image}
Bravo !!
I told you you are a natural
  • #4,980
  • May 18, 2018 6:06am May 18, 2018 6:06am
NZDJPY

Hi, All
what do you think about this pair NZDJPY?

Boss
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Worker
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H4
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I enter Long as a BASIC PASR TRADE. Is that right Basic PASR Trade?

thanks
Don't Rush Things, Be PATIENT and Wait For the Best Trade Setup
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