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Strat's PASR Long Term, Stress Free Trading

  • #5,021
  • Edited May 19, 2018 9:18am May 18, 2018 10:43pm | Edited May 19, 2018 9:18am
GBPAUD Waiting Room

Edit: Boss: 2 gravestone dojis formed on a down swing, what could it mean ?

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Worker: Triangle pattern forming. Is this a trap for retail traders set up by the Big Boys

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As usual, we wait for PASR to trade.
  • #5,022
  • May 18, 2018 10:53pm May 18, 2018 10:53pm
Quoting Suran
{quote} 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...
Hi Suran,
Please do not despair! Like what Strat always say, you need to get rid of this negativity and believe that YOU are the holy grail in trading. Put your discipline into action and learn PASR from this one and only thread. We have wonderful mentors and fellow students. Do not pollute your mind. With commitment and patience, I am sure you can do it!

P.S. I must confess that I read other threads in FF out of boredom, but I run back here faster than closing a M5 chart without a saw-tooth pattern
  • #5,023
  • May 18, 2018 11:08pm May 18, 2018 11:08pm
NZDUSD Waitng Room

Boss: Price reacted to support and the 200ema of Big Boss, forming a "Bond" Hammer. Nothing much!

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  • #5,024
  • May 18, 2018 11:10pm May 18, 2018 11:10pm
USDCAD Waiting Room

Boss: Price still in WCC, as well as making a wedge.

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  • #5,025
  • May 18, 2018 11:19pm May 18, 2018 11:19pm
AUDUSD

Boss: Now that the "Bond Hammer" of last week has fulfilled its prophecy, this week's candle is..... (Drum rolls....) an Inside Bar! Now what could this mean?

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Worker: Offering nothing much, except dojis during the past 2 days, signalling indecision. Now what could this mean?

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As usual, PASR PASR PASR.
  • #5,026
  • May 18, 2018 11:26pm May 18, 2018 11:26pm
Quoting MikuSS
NZDUSD Waitng Room Boss: Price reacted to support and the 200ema of Big Boss, forming a "Bond" Hammer. Nothing much! {image}
Big boss & Boss at support
Boss : Hammer
worker : BUEB
Could buy

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  • #5,027
  • May 18, 2018 11:46pm May 18, 2018 11:46pm
Quoting strat
The Power of Time Frames {quote} 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: {image}
Hi Strat

No, I have not read your Power of Time Frames yet. I will though and thank you for the chart. I will print it and keep it in front of me.

Pete
  • #5,028
  • May 19, 2018 12:04am May 19, 2018 12:04am
Last post before I start my day:

EURAUD

Boss: Swing down complete, price at support.
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  • #5,029
  • May 19, 2018 5:32am May 19, 2018 5:32am
[quote=strat;11075736]Strat's 5 Steps to becoming a consistently profitable forex trader This has just been added to Post 1 on this thread:n “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

Dear Strat,
I have read this post repeatedly since you posted it yesterday.
And i cannot but see myself clearly depicted in the first 2 steps presently.
I came into Forex trading with the mindset and mentality of the typical trader as mentioned in your post.
Maybe you will understand me better when you read this brief account of my life sojourn so far, in search for the elusive online golden fleece .

The journey into the world of Forex trading for me started in 2008, when I left a lucrative job to follow an individual who claimed that he had trading partners in Dubai, who were trading the Forex markets for him. The strategy was to raise huge funds from would be investors promising them a monthly returns of 40% and send such funds to his trading partners, who he boasted could make 100% returns monthly on such funds. It worked for some months but collapsed leaving us with more than 3billion indebtedness in our local currency. He just blamed it on the global economic recession of that year and surprisingly majority of the investors believed him. Let us say that a divine hand intervened to save us huge embarrassment, shame and libels.
For the next five years after this misadventure, I was just moving from any money making endeavour to another, to try and get my feet running again. I dabbled into service/product Networking, email marketing, affiliate marketing, even the monthly 9-5 jobs. In 2016, I got involved with an online Forex trading/networking company based in USA, (known as imarketslive.com, with products such 4 hours daily TV coaching classes, daily Signal messaging, etc). We were the pioneers that brought it to our country Nigeria. It was them that opened my eyes to what Forex trading was all about but the Networking side to it was very important if one was to continue to enjoy the educational forex coaching and mentoring products of the company or else you have to pay $200 to $240 monthly on subscription renewal. It was during this period that I discovered Forex Factory. I however could not sustain the monthly subscription juxtaposed with other immediate needs competing with my meager salary, so I had to suspend my involvement with them. This was not before i blew two live accounts and the third hugely depleted trading the 1hour charts filled with squeaky lines from indicator land.

But inside of me, i felt that i have not seen the real Forex and in the quest to find it i was thread hoping a bit in Forex Factory until i stumbled into your Thread last year November. In my short stay here, i have seen you(from both the old and new thread) put a lot of traders on the path to consistent profitable trading. Sometimes, I wish i had found you a decade ago but since anytime a man wakes up is his morning, i have decided that learning the PASR skill as thought by you will eventually be my bus ticket to early retirement. I will be 24x2 old in August this year, work as an Accountant in a Printing Company and a budding Pastor but i know i have the time to study, understand and imbibe as long as you will be willing to assist me to get there.

Thank you
Emeka
  • #5,030
  • May 19, 2018 6:05am May 19, 2018 6:05am
Well this is disappointing! Like any true Englishman I'm in the pub expecting to see the FA Cup Final buildup and I'm seeing instead a program of some bald ginger guy with a scruffy a beard marrying a woman who is waaaaay prettier than he should be able to manage. He must have an amazing personality....
  • #5,031
  • May 19, 2018 6:13am May 19, 2018 6:13am
Quoting Humbucker
Well this is disappointing! Like any true Englishman I'm in the pub expecting to see the FA Cup Final buildup and I'm seeing instead a program of some bald ginger guy with a scruffy a beard marrying a woman who is waaaaay prettier than he should be able to manage. He must have an amazing personality....
Can you see me waving at the camera from the third left row?
  • #5,032
  • May 19, 2018 7:44am May 19, 2018 7:44am
Quoting darko2010
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 {image}
Great trade darko!!! In my opinion your improvements are exceptional. Since I always try to learn from whom I consider very good at trading I have some perplexities about your last trade.
I have made a brief analysis of your first entry and in my opinion this your trade does not follow the Strat's M5 PASR TREND TRADING criteria.
What do you think about it? Do you agree with me?
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  • #5,033
  • Edited 8:38am May 19, 2018 7:55am | Edited 8:38am
Quoting Giannis95
{quote} Great trade darko!!! In my opinion your improvements are exceptional. Since I always try to learn from whom I consider very good at trading I have some perplexities about your last trade. I have made a brief analysis of your first entry and in my opinion this your trade does not follow the Strat's M5 PASR TREND TRADING criteria. What do you think about it? Do you agree with me? {image}
Good eye Giannis, it wasn't Trend PASR, it was swing PASR that I ended earlier than planned. I will be more specific on titles going forward
  • #5,034
  • Edited 9:37am May 19, 2018 8:39am | Edited 9:37am
Quoting darko2010
{quote} ...., it wasn't Trend PASR, it was swing PASR.
Hi Darko,

I am studying your trade. Just trying to see if I could learn this kind of entry or not. Pls see the chart. with this way of thinking ..is it possible to assume a trend has developed and a possible saw tooth?
what about the blue arrow I marked? Can we treat this as M5 trend trade?

much appreciate.

P.S. BTW, I know the proper trend structure of the M5 trend trading. I am just trying to see if I can learn this type of entry.
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Focus, Patience, Discipline, Determination and Perseverance
  • #5,035
  • May 19, 2018 9:02am May 19, 2018 9:02am
Quoting darko2010
{quote} Can you see me waving at the camera from the third left row?
Yes ur purrrty!
  • #5,036
  • May 19, 2018 9:46am May 19, 2018 9:46am
Quoting MikuSS
Last post before I start my day: EURAUD Boss: Swing down complete, price at support. {image}
Hi, MikuSS

I am learning how to make a PLAN.

So, what is your PLAN on this pair EURAUD for the trade of next week?

thanks
Don't Rush Things, Be PATIENT and Wait For the Best Trade Setup
  • #5,037
  • Edited 10:25am May 19, 2018 10:14am | Edited 10:25am
Quoting Cj.cn
{quote} Hi, MikuSS I am learning how to make a PLAN. So, what is your PLAN on this pair EURAUD for the trade of next week? thanks
Hi Cj,

Right now, I have no plan! Will price continue? Will price be rejected? I will have one when PASR shows me one..!

Edit: Maybe it is better to say that my plan is to wait for PASR on the Worker chart.
  • #5,038
  • May 19, 2018 10:48am May 19, 2018 10:48am
Quoting MikuSS
{quote} Hi Cj, Right now, I have no plan! Will price continue? Will price be rejected? I will have one when PASR shows me one..! Edit: Maybe it is better to say that my plan is to wait for PASR on the Worker chart.
Yes, the Price is either UP or DOWN. We wait the PASR on the Worker chart to tell us.

So, My plan is:

PLAN 1#: UP
(1) Entry: the PASR is HAMMER or BUEB above the Support on the worker chart
(2) SL: below the Support
(3) TP: the Resistance 1.5730-1.5750
NOTE: The TP is small, so if R:R<2, don't enter.

PLAN 2#: DOWN (This is pull back and then down)
(1) Entry: the PASR is Shooting or BEEB below the Resistance zone 1.5730-1.5750 on the worker chart.
(2) SL: above the Resistance.
(3) TP1: the Support 1.5610; TP2: the bottom of Strat Shadow as Support.

PLAN 3#: DOWN (This is continue the DOWN TREND, no pull back)
(1) Entry: the PASR is CLOSED the Support, drop down to H4 to look for better entry and better RR.
(2) SL: above the Swing High
(3) TP: the bottom of Strat Shadow as Support.

I don't know if my plan is missing anything. any comments is welcome.

thanks
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Don't Rush Things, Be PATIENT and Wait For the Best Trade Setup
  • #5,039
  • May 19, 2018 11:20am May 19, 2018 11:20am
Quoting Cj.cn
{quote} Yes, the Price is either UP or DOWN. We wait the PASR on the Worker chart to tell us. So, My plan is: PLAN 1#: UP (1) Entry: the PASR is HAMMER or BUEB above the Support on the worker chart (2) SL: below the Support (3) TP: the Resistance 1.5730-1.5750 NOTE: The TP is small, so if R:R<2, don't enter. PLAN 2#: DOWN (This is pull back and then down) (1) Entry: the PASR is Shooting or BEEB below the Resistance zone 1.5730-1.5750 on the worker chart. (2) SL: above the Resistance. (3) TP1: the Support 1.5610; TP2: the bottom of Strat Shadow as...
The Boss has just completed its down swing. Just be careful of going short as it is still a counter-trend trade.
  • #5,040
  • Edited 12:35pm May 19, 2018 12:11pm | Edited 12:35pm
Quoting Suran
{quote} Hi Darko, I am studying your trade. Just trying to see if I could learn this kind of entry or not. Pls see the chart. with this way of thinking ..is it possible to assume a trend has developed and a possible saw tooth? what about the blue arrow I marked? Can we treat this as M5 trend trade? much appreciate. P.S. BTW, I know the proper trend structure of the M5 trend trading. I am just trying to see if I can learn this type of entry. {image}
Suran,
As Giannis pointed out, this was not a trend trade but a low-probability H4 swing trade that I cut as I had prior engagements to go to.

Look at the H4 chart, see why I was targeting 110.40-50 and also why it was a bad idea to start with as I was swimming against the tide.

I suggest you don’t try to learn from this one except as something to avoid. The trade really called me but had I been a better trader, I should have had the discipline to pass

EDIT: to answer your question, my second entry could have been a potential trend trade entry but the H1 support at around 110.65 would have made it a poor idea
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