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Strat's PASR Long Term, Stress Free Trading

  • #5,001
  • May 18, 2018 9:46am May 18, 2018 9:46am
EURNZD M5 PASR Trend Trading

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}
You did good AND made some profit!

Here is a quick overview of what my thought process would be ""if"" I opened up my M5 EURNZD chart 30 minutes before London Open.

After NY CLOSE, PRICE had DOWNWARD MOMENTUM. PRICE then went into SIDEWAYS CONSOLIDATION so I think that must be Corrective Wave 4 and the wave before it must have been Impulse Wave 3. I am not an EW expert, I don't believe anyone is, but when I SEE that Wave Pattern I am on alert to expect another Impulse Wave down.

I add my support lines in SILVER (I don't want bold lines or strong colours because they excite my Little People) from H4 and H1.

PRICE continues moving DOWN before and AFTER London Open with STRONG MOMENTUM . I SEE PRICE staying below the Strat Shadow so I start looking for a PULL BACK to the Strat Shadow. The TREND is so STRONG that PRICE does not pull back so I look for a PASR candle to enter - my first arrow. Then, AS LONG AS PRICE STAYS BELOW THE STRAT SHADOW, I just ADD ON.

As I have posted many, many times in my TREND PASR Strategy, when the TREND is STRONG, it does not really matter where you enter because the TREND will pick you up and put you into profit. You can enter at the worst location in a STRONG TREND and within a few candles, you will be in profit.

I hope this helps but you should really take note of Yomi (fxrabbi) as he is much better than me on M5 PASR Trend Trading.

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15 YEARS OF PASR ON FOREX FACTORY!
  • #5,002
  • May 18, 2018 9:51am May 18, 2018 9:51am
NZDJPY

Quoting Cj.cn
NZDJPY Hi, All what do you think about this pair NZDJPY? Boss {image} Worker {image} H4 {image} I enter Long as a BASIC PASR TRADE. Is that right Basic PASR Trade? thanks
Is that right Basic PASR Trade?

No, Basic PASR is trading in a defined RANGE. Here, PRICE is in some form of COIL pattern.
15 YEARS OF PASR ON FOREX FACTORY!
  • #5,003
  • May 18, 2018 10:03am May 18, 2018 10:03am
GBPNZD M5 PASR Trend Trading 587 pips

Quoting fxrabbi
GBPNZD M5 PASR Trend Trading: LIVE at the MOVING HARD RIGHT EDGE.................where I normally wait patiently for the market to have a enough STRENGTH to push price in the desired direction and piggyback on the MOMENTUM in the hope of an extension move via the "SMOOTH SAW TOOTH BLADE STRUCTURE", thanks to the STRAT SHADOW. Happy Trading, Yomi. {image}
Yomi, you have just wiped me off the M5 Planet with your M5 trading. You are now "THE M5 PASR TREND TRADING Summa cum laude". I don't know what to say except "Well Done!"
15 YEARS OF PASR ON FOREX FACTORY!
  • #5,004
  • May 18, 2018 10:13am May 18, 2018 10:13am
GBPJPY

Quoting Svolacius
GBP/JPY: Big Boss: Last month PRICE was rejected by resistance of 150 and Strat shadow. SS candle (body is 160 pips, tail 335 pips, more than twice the body) closed just below the resistance level. Boss: Price is making Higher Lows and Lower Highs, I illustrated that by drawing TLs. Price is being rejected by the Strat Shadow, moving inside of WCC. Worker: Price is being rejected by Strat Shadow bottom as of now, but we still have some time until the close of the candle. Ideally I would want the price to get out of HL LH structure, which means a...
Ideally I would want the price to get out of HL LH structure, which means a breakout to show clear direction.

Good analysis. Remember there are probably more "FAKE" break outs than money making ones so WAIT for a re-test of support/resistance BEFORE trading.

The Boss PRICE is in some form of COIL which ""IF"" we believe coil patterns, (I don't), PRICE should break out AFTER the 5th touch of support/resistance.
15 YEARS OF PASR ON FOREX FACTORY!
  • #5,005
  • May 18, 2018 10:18am May 18, 2018 10:18am
EURCAD M5 PASR Trend Trading

Quoting darko2010
EURCAD M5 I wanted to try something new, hold on to my trades for once... Happy I got out before the red news on CAD {image}
Well done! You and Yomi are beating me at my own game!
15 YEARS OF PASR ON FOREX FACTORY!
  • #5,006
  • May 18, 2018 10:20am May 18, 2018 10:20am
AUDNZD

Quoting Bestof27
{quote} Yes, this morning when I saw price going down, at 1.0875 => 73 pips
Good job!

Now you have REAL LIVE experience of a Hanging Man and a Spinning Top at Resistance (PASR) - Remember this and store it in your trading brain for future use.
15 YEARS OF PASR ON FOREX FACTORY!
  • #5,007
  • May 18, 2018 10:20am May 18, 2018 10:20am
Quoting strat
EURCAD M5 PASR Trend Trading {quote} Well done! You and Yomi are beating me at my own game!
There would be no game if you didn't teach me how to play .
Currently fighting against my little people on USDJPY not to cut my position (target 110.40-110.50), I will post it here once I close.
  • #5,008
  • May 18, 2018 10:22am May 18, 2018 10:22am
Quoting strat
GBPNZD M5 PASR Trend Trading 587 pips {quote} Yomi, you have just wiped me off the M5 Planet with your M5 trading. You are now "THE M5 PASR TREND TRADING Summa cum laude". I don't know what to say except "Well Done!"
Thanks for the honour, privilege and the guidance here.
Time always comes before price
  • #5,009
  • May 18, 2018 11:34am May 18, 2018 11:34am
USDJPY M5 PASR TREND TRADING

As promised earlier, here is my trade. I got out early not because of PA but because I am having dinner with the woman I love. We trade to live, not the other way around.
Have a great weekend
D
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  • #5,010
  • May 18, 2018 11:46am May 18, 2018 11:46am
Thread Hopper

Quoting MrBumpFx
{quote} Nice trade and happy birthday. Have a good weekend everyone.
Goodbye and enjoy your Thread Hopping journey! We now know not to waste any more time and energy with you.

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15 YEARS OF PASR ON FOREX FACTORY!
  • #5,011
  • May 18, 2018 11:53am May 18, 2018 11:53am
PASR

Quoting strat
PASR {quote} Welcome! You have had some excellent comments from others on here so pay close attention to them. To specifically address your questions: PDF Although a good summary, this PDF was not compiled by me. A much better summary, as detailed in my first post is The Path from my now deleted private website. https://web.archive.org/web/20120603...rning:overview But again, this is just a summary and if you really...
Amazing! Humans never cease to amaze me!

Myself and others gave this guy the advice he asked for yet he never thanked us or even acknowledged us. This is the last time I spend this much time on newbies!
15 YEARS OF PASR ON FOREX FACTORY!
  • #5,012
  • May 18, 2018 11:56am May 18, 2018 11:56am
Quoting fxrabbi
GBPNZD M5 PASR Trend Trading: LIVE at the MOVING HARD RIGHT EDGE.................where I normally wait patiently for the market to have a enough STRENGTH to push price in the desired direction and piggyback on the MOMENTUM in the hope of an extension move via the "SMOOTH SAW TOOTH BLADE STRUCTURE", thanks to the STRAT SHADOW. Happy Trading, Yomi. {image}
Fantastic Yomi, those perfect trades are inspiration and motivation for so many! THANKS!, keep doing well and all the best.
  • #5,013
  • May 18, 2018 11:59am May 18, 2018 11:59am
Quoting strat
PASR {quote} Amazing! Humans never cease to amaze me! Myself and others gave this guy the advice he asked for yet he never thanked us or even acknowledged us. This is the last time I spend this much time on newbies!
Its very Human, He is like most traders looking for 100% result....!you are doing well, thanks!
  • #5,014
  • May 18, 2018 12:47pm May 18, 2018 12:47pm
Quoting strat
AUDNZD {quote} 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...
Hi Strat

I think I may have heard the "clink" of a Penny being dropped....

"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."

I have not yet been able to wrap my head around Support and Resistance lines. On face value Support and Resistance is really simple, you draw horizontal lines at the close of the candles across all time frames where some or perceived PA and trend changes have taken place and Bob's your Auntie.

BUT, and I think here is the BUT I've been missing... You have time frames within time frames. So, the only frame that is steering the frame I'm in is the frame above the frame I'm in....so the frame I'm in is flotsam in the stream above the frame I'm in....and we've all gone over the falls in any any case from frame steering the frame above the frame I AM IN!!

I think I may have just confused myself with that lot...

So, to summarize what I think I learnt:
- If I am trading the daily...(I am the Worker)
- I need to take note in which store the Big Boss is shopping...
- and importantly, note with a S/R line in which aisle of the Store the Boss is pushing her trolley...
- but not be too concerned as to where I as designated Worker get sent up and down the aisle to pick up or put back bits 'n pieces of merchandise that catches or loses the Missus' fancy....

Yes /No??

Pete
  • #5,015
  • May 18, 2018 2:23pm May 18, 2018 2:23pm
The Power of Time Frames

Quoting JCMPete
{quote} Hi Strat I think I may have heard the "clink" of a Penny being dropped.... "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." I have not yet been able to wrap my head around Support and Resistance lines. On face value Support and Resistance is really simple, you draw horizontal lines at the close of the candles across all time frames where some or perceived PA and trend changes have taken...
Yes, well said and a very good analogy BUT this is all covered in my The Power of Time Frames. Have you read this?

Here is my explanation on my chart:

Attached Image
15 YEARS OF PASR ON FOREX FACTORY!
  • #5,016
  • Edited May 19, 2018 9:11am May 18, 2018 2:33pm | Edited May 19, 2018 9:11am
Strat's 5 Steps to becoming a consistently profitable forex trader

This has just been added to Post 1 on this thread:

STEP 1 – Not knowing what the hell you are doing!

You have read and heard that forex trading is a “Get Rich Quick” or at least, a fantastic way to make easy money from all the Marketing Promotions (SCAMS) you see and read out there – you know, the ones with a handsome $millionaire guy with his arm around a drop dead beautiful busty blonde in a short skirt leaning on his red Ferrari outside his 12 room mansion overlooking the Pacific Ocean.

So, you jump in at the deep end (read trade) with both feet and subsequently drown – because you couldn’t swim! (Couldn’t trade). Bad luck – it won’t happen next time you think. PRICE only goes up or down so what’s the big deal, how hard can it be? Anyone can do it – right?

When you jumped in at the deep end, you didn’t know that you couldn’t swim (trade). You then realise you haven’t got a clue what the hell you are doing. You take lots and lots of trades all with huge RISK. Those trades go AGAINST you so you have the bright idea to REVERSE and trade in the opposite direction only for PRICE to turn back again………and again………..and again….and again……..and again etc., etc.

You will probably get one or two right “eventually” but at what cost of LOSING the rest? However, this is the TRADING DEVIL telling you that it really is this simple and so you start to trade more, RISK more and LOSE more money.

Then you read something about Money Management and “Doubling Up” which you believe is the missing piece to your trading jigsaw. So you start trying to recover your LOSSES by doubling up on them each time you trade. You may be lucky doing that one time but in the end you will LOSE twice as much money! You still don’t get that you know diddly squat about how to trade forex so you continue to trade until eventually the Market sucks you in and blows you out in bubbles wiping you out and taking ALL your money!
Then comes the next step:

STEP 2 – Not knowing that you don’t know what you don’t know or, to give it a fancy name, Conscious Incompetence

This is a light bulb moment when you realise there is a lot more work involved in trading than you first thought and that you might have to start reading, learning and understanding about trading. You finally accept that you can’t make a profit trading forex.

Problem solved – buy “Get Rich Quick” trading systems, ebooks, software, join public forex Forums – search for the MOTHER of ALL HOLY GRAIL systems from all corners of the Earth.

Before you know it, you are an “expert” in trading systems and start HOPPING from one method and system to another day by day, week by week, month by month, year by year never trading one long enough to give it AND YOU, chance to SEE it is profitable.

Each time you find an indicator with more flashing lights and bells and whistles than the last one you will believe that THIS is the ONE to make money for you. You will mess with Fibonacci, support and resistance, supply and demand, Pivots, Fractals, Divergence, Price Action, ADX, RSI, MACD, CCI, DMI etc., etc., and everything you can get your LOSING hands on hoping that the next “thing” is what works. You will be such an “expert” with your “indicators” that you will start to pick tops and bottoms trying to trade when PRICE reverses. Losing trades won’t matter because you will always add to them because NOW you know you are RIGHT!

Eventually, after more LOSING, you will subscribe to a “live chat room” which you are led to believe is full of Professional Traders trading for their living. You still don’t understand what the hell they are doing so you ask numerous “newbie” questions to the point that everyone ignores you. Then you start not believing what they are doing and the profits they are making and doubt their abilities because, after all, you know as much as them and they must be lying about how much they are making. If I’m doing what they are doing and I’m LOSING how can they be winning? Finally, someone takes you under their wing and gives you good advice but by now you are a stubborn idiot and ignore that advice and continue trading your way because you believe you know better.

You then read about signals and signal services so you pay for that but, that doesn’t work either. Then you decide to stump up $thousands to attend courses held by those “famous” $multi-millionaire traders. But it all goes in one ear and out the other because, stubbornly, you know it won’t work and you really know best.

This goes on for years and years because you are now ADDICTED to trading and you are sure you can beat this thing. Eventually, you either give up or you TROLL public Forums still searching for the MOTHER of ALL HOLY GRAIL systems.

Statistics show that 60% to 75% of new traders give up after 3 to 6 months. Another 15% continue in the hope of becoming $millionaires only to wipe out their account. The remaining % stubbornly continue for around 3 years without success with a very small part of that % eventually moving on to being consistently profitable.

Your addiction to trading takes you into Step 3

STEP 3 - The “Eureka” Moment

At the end of Step 2 you realise that if trading really was easy, we would all be $millionaires!

You begin to realise that success in trading is more about “YOU” and that “YOU” could make money with a really simple moving average system. You realise that Money Management and Trading Psychology really has a BIG PART to play in being profitable at trading. You buy, read and listen to everything you can find on Trading Psychology, and, what do you know, they are talking about YOU! Light bulbs flash at the speed of light and your Trading Brain kicks in to tell you that being profitable in trading is all about YOU and not the system, method or whatever. It’s no wonder you can’t find anything that works for you.

You FINALLY realise that, just like Dr Joe, the NASA Rocket Scientist, who planned spaceship trajectories and moon landings, YOU cannot accurately predict what the Market will do either in the next 5 minutes, the next day or the next month. Then you realise that NO-ONE else can either! So since THEY can’t, YOU stop listening to them or reading others who think they can.

Knowing that it is now YOU who is responsible for your profitability and not the system or method, you find one of your systems or methods that has a good record of winning and you feel comfortable with and FOCUS 100% on it upside down and inside out until you completely UNDERSTAND it. You FINALLY stop looking at other threads and systems because now you HAVE found the HOLY GRAIL which YOU now know is who stares back at you when you look in the mirror. Then, you paper trade it because you know that Broker demos are highly manipulated and encourage you to win. Then you move onto trading LIVE with your REAL, hard earned money. You don’t get angry when you lose because you know it is just the cost of doing Business. You now know your method so well that if you exercise correct Money Management practices your winners will be much greater than your losers.

Next, you start looking at your trading results in a different way. You are no longer concerned with daily or weekly performance because now you know losing trades do not make a poor system and so move onto monthly performance. Then you finally realise you have an “edge” that you have heard others talk about but more important, know that “”YOU”” are the edge! Then you start to go over proper Money Management, Leverage, Risk, Trading Psychology etc., but this time, you finally UNDERSTAND it and it soaks into your sponge of a trading brain. Then you smile when you think back to when you didn’t understand it because now you know you were not ready then, but you are now. Then you sit back and accept that all this happened because you finally realized and accepted that it was not about the system or method but YOU.

Step 4 – Walking on Water

Now you are taking trades when you SEE your system set up. You let your winners run and cut your losers early. You take the losses on your chin and just move onto the next trade. You know that YOU and your system make more money than it loses. You go from breaking even to making a few pips profit to making THOUSANDS of pips profit and think you are now the World’s Best Forex Trader. Then you start to lose focus and stop paying attention to everything that got you to where you are at this point and start taking trades that aren’t there. Then you start losing more than you are winning and your confidence begins to suffer. This makes you think the Market has changed and your system is no longer suitable for it so you begin to doubt it. Then you lose confidence in it. Then your profits and performance begin to spiral down out of control. Then someone tells you that you are trying to “Walk On Water” and that the last guy who tried that got hung on a cross. You finally wake up and realise that you had forgotten that your performance is all about YOU, not the system or Market so you beat yourself up and go back to Step 3

Step 5 - Autopilot
Eventually, you avoid Walking on Water again and get back to profitable trading and then move on to Autopilot trading. You have become Consistently Profitable and you are now trading at an unconscious level or “In The Zone”. You ignore “noise” on all trading forums because you have mastered your emotions and are in total control.

You are now a “Star” to others and help them with their trading and questions. You don’t want to pass on your “secrets” because you are frightened of them misusing them. You then become a “Mentor” to many and freely pass on your advice although you know most of it will be wasted on “Get Rich Quick” newbies. Some though stick at it and listen to you and will get to where you are at but most, 95%, will never get past Step 2

Trading then becomes boring for you just like everything you do that has no challenges. You begin to spend more time helping others reach your trading status to relieve the boredom. This helps you because they ask you things which you do by instinct or now take for granted so it refreshes you and your memory.

You get to the point that, when once you were proud of telling anyone that you are a consistently profitable forex trader, you don’t even care or bother now since it’s just a job like any other – except on your terms..

SUMMARY

Statistics say that only 5% who attempt Forex trading make it. My experience is around 2%

Ability is not the reason for success in trading. It is drive, dedication, determination perseverance and the way you treat, access and process new information and knowledge. More than anything, it is about YOU. YOU as a person and YOU as a trader. Trading reveals more information about you and your personality than any test I know.

The losers are the “Get Rich Quickers” with “blinkers” who couldn’t see the obvious when it was staring them in their face, by not accepting new information.

Being a consistently profitable trader is no different from being a successful heart surgeon or a top prosecuting lawyer – both require that you do an apprenticeship of learning and understanding. How long that apprenticeship is depends on the individual and how soon he realises that it is about HIM and not the system. On average this is taking around 3 years.

Many don’t believe it will take that long and go back to Step 2 and go round and round in circles until eventually they disappear up their own chuff!

How many thousands and thousands of hours studying thousands and thousands of charts would you study if you knew, from proof, that there was a $million a year job at the end of it?

Strat
15 YEARS OF PASR ON FOREX FACTORY!
  • #5,017
  • May 18, 2018 7:30pm May 18, 2018 7:30pm
Quoting Rufus
{quote} We will have to get Strat to clarify if I am incorrect. But if trading it from a daily perspective. Yes. Post from Strat earlier in the thread https://www.forexfactory.com/showthr...3#post10453733 NZDJPY is in a 600 pip range on the weekly chart. {image} Looking at your 4h chart to me is Swing PASR {image} So my thinking is. It depends how you are going to trade it.
got it.

thanks for your comments.
Don't Rush Things, Be PATIENT and Wait For the Best Trade Setup
  • #5,018
  • Edited May 19, 2018 2:35am May 18, 2018 9:38pm | Edited May 19, 2018 2:35am
Quoting strat
NZDJPY {quote} Is that right Basic PASR Trade? No, Basic PASR is trading in a defined RANGE. Here, PRICE is in some form of COIL pattern.
Dear Strat

COIL pattern

1- what is the COIL pattern?
I search your old post, but didn't find a pic to describe what this pattern looks like. Is this COIL pattern as below pic?
Attached Image

2- what does COIL pattern mean?
"The PRICE is in some form of COIL which ""IF"" we believe coil patterns, (I don't), PRICE should break out AFTER the 5th touch of support/resistance."
So, we don't trade when the PRICE is in COIL, should WAIT the PRICE break out. Is my understand correct?

thanks for your feedback.
Don't Rush Things, Be PATIENT and Wait For the Best Trade Setup
  • #5,019
  • May 18, 2018 9:49pm May 18, 2018 9:49pm
Quoting strat
Strat's 5 Steps to becoming a consistently profitable forex trader ....
Thanks for the lesson Strat. I've read this some time ago,but reading it again with your own words makes more sense.

I wish I am at least step 3, but honestly and really I think I am more in between step 2 and 3. Because occasionally I getting this moments of thoughts that I should go and see what others doing in other threads. And go Lurk...And then again after couple of minutes I realize my self that "Bloddy hell, I am lurking" and I know that's only second to thread hopping so I come back. Because in the bottom of my heart I know thread hopping is the best I can do to become a loser. Today after nearly a month or so I came to a point that I almost addicted to the simpler charts and to read the market the way you trying to teach. May be after one or two years there will be a time that I cannot see the other fancy stuff. Even-though other systems (or traders)doing well, that doesn't matter to me because I know what matters to me is how successful I am.

I have been a member of several pvt sites and I think may still have a life time membership of some them (like NF), but I even do not log in to them now because i know its primitive compared to what I can learn hanging around here and the path.The only regret I have in me now is the thought "why I didn't join your pvt forum when its going in full swing". I considered couple of times (some where in 2010) but I wasn't serious in learning FX those days because I was working full time so it never happened. Anyway at least I joined with you now in this free thread..so its good enough for me. Today I have full (full time) commitment to learn this thing and will give it a shot at-least couple of years.Hope I could figure this out this time .

And thanks a million times for the help you giving us.
(May be rock and roll..ha ha)

Suranga
Focus, Patience, Discipline, Determination and Perseverance
  • #5,020
  • May 18, 2018 10:28pm May 18, 2018 10:28pm
Good job to everyone trading m5! I hope I can practice m5 one day, but my current work commitment does not allow it.

So back to Daily trading: end of another week , time for another look at our Boss charts.

AUDCAD

On the boss chart, the hammer presented itself last week, with the hammer signalling a reversal. This week's candle closed with a new Inside Bar/Hammer, suggesting an even stronger reversal.

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On the Worker chart, an Inside Bar presented itself on the 18th May, suggesting a possible reversal to the upside as well. Question to Strat and the others: With all these signs on the Boss and Worker chart, would you consider putting at buy stop at the high of 17th's candle? Can this be considered a reversal/Swing PASR trade?

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Moving forward, PASR will tell us what to do!
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