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Strat's PASR Long Term, Stress Free Trading

  • #5,081
  • May 21, 2018 9:00am May 21, 2018 9:00am
Quoting strat
AUDNZD {quote} Did you look at the Big Boss before posting this?
Big Boss is in a swing up from a Higher Low, it is going up and I wanted to go against BB trend

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  • #5,082
  • May 21, 2018 9:06am May 21, 2018 9:06am
Candlesticks

Quoting sabbah
BEEB/BUEB Hi everyone. In post #5043 and following replies to that post, everyone said that that daily bar is BEEB, however, as per my understanding the EB (from Strats PASR document): {image} Which is not the case as I see it in post #5043. Yes, it is a strong bearish candle on the daily chart, but the open and close are not ENGULFING the previous candle. Can someone clarify what I'm missing, please?
Be careful that you don't get sucked into the hype that "Candlesticks" are the "be all" and "end all" in trading. Candlesticks are only ONE of our tools in PASR. We don't trade candlesticks - we trade PASR.

These examples are in a perfect world and completely out of context to any particular trading condition. Only study candlesticks in a particular situation - this is when you will learn more.
15 YEARS OF PASR ON FOREX FACTORY!
  • #5,083
  • May 21, 2018 9:11am May 21, 2018 9:11am
GBPUSD

Quoting MikuSS
Today's trade on GBPUSD: Big Boss: DBHLC/BEOB in March and April's candle. {image} Boss: Price also closed with a DBHLC/BEOB last Friday, below Strat Shadow. {image} Hence, I entered on the Boss chart and put a sell stop below Friday's candle. What is interesting is there is 'nothing' to the bottom of the chart (no Strat Shadow, no ema), which could indicate a strong swing to the downside. Targeting support around 1.33RN. {image}
Good job.

My targets, from this week's End of Week analysis are 1.1940, then 1.0434
15 YEARS OF PASR ON FOREX FACTORY!
  • #5,084
  • May 21, 2018 9:15am May 21, 2018 9:15am
PASR

Quoting Suran
Hi all, Today is bank holiday for most of the Euro zone and CAD. Do you think it 's better to stay out ? {image}
All the gurus, know it alls and Talking Heads will tell you to stay out.

A better way is to look at which pair interests you and SEE if there are any set ups. Remember Newton's Laws of Motion which are just as applicable to financial instruments as science.
15 YEARS OF PASR ON FOREX FACTORY!
  • #5,085
  • May 21, 2018 9:26am May 21, 2018 9:26am
M5 PASR Trend Trading

Quoting BeyondTheSea
Sorry Gents and Ladies, I haven't posted recently due to lack of screen time. Because of this I thought I'd post what is probably my last M5 trade due to having to re-enter the rat race for awhile (damn shame if you ask me!). I would like to help those with the London session and today's trade was a good example of how difficult it can be psychologically. I'll talk you through what I do as I'm sure most of you have experienced whip lashes and stop outs even with a trending structure. 1st thing I do is check the news and if there are any idiotic...

Excellent, BTS. I could not have written it any better.
15 YEARS OF PASR ON FOREX FACTORY!
  • #5,086
  • May 21, 2018 9:28am May 21, 2018 9:28am
Quoting strat
PASR {quote} Remember Newton's Laws of Motion which are just as applicable to financial instruments as science.
I censored myself as I was about to mention celestial objects to which these laws are not always applicable to
  • #5,087
  • May 21, 2018 9:29am May 21, 2018 9:29am
AUDNZD

Quoting Bestof27
{quote} AUDNZD I had a sell stop pending order a few pips below Friday's low that wasn't triggered. So for now wait and see
I had a sell stop pending order a few pips below Friday's low

WHY? What were your reasons for this? What makes you think PRICE will go down?
15 YEARS OF PASR ON FOREX FACTORY!
  • #5,088
  • May 21, 2018 9:32am May 21, 2018 9:32am
Quoting strat
AUDNZD {quote} I had a sell stop pending order a few pips below Friday's low WHY? What were your reasons for this? What makes you think PRICE will go down?
The shooting star at resistance on the Boss and BEEB on the worker
  • #5,089
  • May 21, 2018 9:42am May 21, 2018 9:42am
Quoting strat
Candlesticks {quote} Be careful that you don't get sucked into the hype that "Candlesticks" are the "be all" and "end all" in trading. Candlesticks are only ONE of our tools in PASR. We don't trade candlesticks - we trade PASR. These examples are in a perfect world and completely out of context to any particular trading condition. Only study candlesticks in a particular situation - this is when you will learn more.
Was thinking about this myself this morning when looking at cable: the looped section has a tangle of BEEBs, BEOBs and even a few bullish ones. As much as I wanted all the bearish signals to be true it was clear that price was struggling to break support. USD selloff ensued.
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  • #5,090
  • May 21, 2018 9:43am May 21, 2018 9:43am
Quoting Bestof27
{quote} The shooting star at resistance on the Boss and BEEB on the worker
Hi Bestof.

Remember candlesticks are just one part of PASR. Strat just mentioned that again a few posts back. A shooting star or BEEB without support or resistance are just candlesticks. They can signal us to get out of trades and into trades.
We have the 200MA resistance there on the boss but it's shot through that before. This is a prime example of why we place our orders above/below candles which you have quite rightly done.

Dynamic S/R levels are less reliable than solid price action turning points I'm starting to realize. Especially when they have not held price recently which is the case with this pair on the worker and boss.
Study enough and it all starts looking like the Matrix...
  • #5,091
  • May 21, 2018 10:00am May 21, 2018 10:00am
GBPCAD M5 PASR Trend Trading

Quoting Suran
{quote} Hi Start, Opened a little live account and start trading live with very small. Paper trading seams not working for me because I don't feel serious about trades. Took couple of trades today. First one is a disaster. GBP/CAD. Even though its bank holiday today for CAD I took it because its London session. Second and third are GBP/AUD. Both are profit. Overall account is up today. The last trade might run a long way but I couldn't concentrate more.fed up.. so I exit at the support level. Thanks a lot {image} {image}
Paper trading seams not working for me because I don't feel serious about trades.

Exactly. Paper trading is only to PROVE your understanding of the method. Live trading with REAL money is where you engage your emotions (Little People) and find out about your trading personality.

GBPCAD First one is a disaster

Your post trade analysis is good even though your entry is not.

GBPAUD Both are profit. Overall account is up today

If you are going to continue trading M5, only use those trend lines UNTIL you UNDERSTAND how PRICE behaves and reacts in and around the Strat Shadow in a TREND.

The last trade might run a long way but I couldn't concentrate more.fed up..so I exit at the support level.

Do not ignore what this is telling you. Even though you are in profit, you may not be suited to this time frame. Not everyone can consistently and profitably trade M5. There are far more that can't, and even more that don't know they can't, than those who do, so don't beat yourself up.
15 YEARS OF PASR ON FOREX FACTORY!
  • #5,092
  • May 21, 2018 10:21am May 21, 2018 10:21am
AUDUSD M5 PASR Trend Trading

Quoting Humbucker
AUD/USD M5 This is my first attempt at moving away from EUR/USD M5 Spotted the strat shadow flipping green and a nice, smooth sawtooth. Decent retracement confirmed the trend so i jumped in at the break of resistance giving me entry 1 essentially trying to be yomi. Entry 2 was a BUEB out of strat shadow in confluence with worker resistance. There's alot of congestion in the area where my lines are placed and i took the first position off at the first sign of turbulence to placate my little people (1st circle). Second trade I left to run, but I started...
Spotted the strat shadow flipping green and a nice, smooth sawtooth.

You must have X-Ray eyes! I don't see a Strat Shadow anywhere on your chart. This is not a "smooth" saw tooth blade trend though. While it is a TREND, it is very jerky - UP and DOWN. See other M5 examples for a "smooth" saw tooth blade TREND structure.

Why do you need those extra moving averages? They will invite your Little People to party when PRICE approaches them.

There's a lot of congestion in the area where my lines are placed and i took the first position off at the first sign of turbulence to placate my little people (1st circle).

That's OK UNTIL you UNDERSTAND how PRICE behaves and reacts in and around the Strat Shadow - oh, wait a minute, you don't have a Strat Shadow!

Also, your red and blue lines are what is causing your Little People to pay attention - they are too bold, too strong - they are providing a mental block.

but I started to see USD firming up on other pairs

Other pairs have NOTHING to do with the M5 chart you are trading so STOP looking at them and FOCUS on the pair you are trading. We trade the M5 TREND and ONLY FOCUS on that - nothing else.

remains to be seen whether I made the right call.

There is no "right" or "wrong" - ONLY what makes money for YOU

my little people and me may be headed in the right direction.

ONLY "if" you take heed of my comments.

Good job, though
15 YEARS OF PASR ON FOREX FACTORY!
  • #5,093
  • May 21, 2018 10:25am May 21, 2018 10:25am
GBPAUD M15 PASR Trend Trading

Quoting samsonwebdes
GBP/AUD M15 Yes you read it right. M15 not M5. Life at the hard right edge but a little slower for us getting on a bit.... {image}
A good example of TREND trading M15. Thank you.
15 YEARS OF PASR ON FOREX FACTORY!
  • #5,094
  • May 21, 2018 10:26am May 21, 2018 10:26am
Quoting strat
....
Thanks for the feed back strat.

only use those trend lines UNTIL you UNDERSTAND how PRICE behaves and reacts in and around the Strat Shadow

Yes I am using the trend line only to see price converge/Diverge to strat shadow and then after I get a entry candle I will enter. If its saw tooth structure..

Do not ignore what this is telling you. Even though you are in profit, you may not be suited to this time frame.

I got fed up looking at the screen because I was infront of the screen whole the day. Early morning I was reading THE PATH and afternoon trying to catch a trend. Until I finish reading THE PATH it might be like this. I am also learning towards trading longer time frame charts. My progress through the path still going snail pace. when I have good understanding about PASR then I will try to trade worker .will see.

Thanks for the help.
Focus, Patience, Discipline, Determination and Perseverance
  • #5,095
  • Edited 11:04am May 21, 2018 10:31am | Edited 11:04am
AUDNZD

Quoting Bestof27
{quote} Big Boss is in a swing up from a Higher Low, it is going up and I wanted to go against BB trend {image}
Help me understand your thinking.

You posted this:

AUDNZD What about shorting this pair now

Boss : shooting star

Worker : BEEB

Then you post:

Big Boss is in a swing up from a Higher Low, it is going up and I wanted to go against BB trend
15 YEARS OF PASR ON FOREX FACTORY!
  • #5,096
  • May 21, 2018 10:44am May 21, 2018 10:44am
Quoting strat
AUDNZD {quote} Help me understand your thinking. You posted this: AUDNZD What about shorting this pair now Boss : shooting star Worker : BEEB Then you post: Big Boss is in a swing up from a Higher Low, it is going up and I wanted to go against BB trend
Didn't analyzed BB structure in my first post, what I did in my second post after you reminded me that there was the Big Boss above the Boss
  • #5,097
  • May 21, 2018 10:46am May 21, 2018 10:46am
AUDNZD

Quoting Bestof27
{quote} The shooting star at resistance on the Boss and BEEB on the worker
The shooting star at resistance on the Boss

It is not in the correct location and is therefore, a BOND Shooting Star. I have drawn in the blue ellipse where we need the candle to be to consider it a Shooting Star. Make sure you UNDERSTAND this otherwise it will cost you a lot of money.

Because it was a Bond Shooting Star we KNOW not to take any further action except WAIT to SEE what happens next.

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15 YEARS OF PASR ON FOREX FACTORY!
  • #5,098
  • May 21, 2018 11:01am May 21, 2018 11:01am
GBPUSD M5

Quoting Humbucker
{quote} Was thinking about this myself this morning when looking at cable: the looped section has a tangle of BEEBs, BEOBs and even a few bullish ones. As much as I wanted all the bearish signals to be true it was clear that price was struggling to break support. USD selloff ensued. {image}
This is an exercise for SEEING BEYOND THE CANDLES.

There is the big red candle down being rejected from support from which there is the big move up. The short traders that didn't get out on that big red candle, drive PRICE back down to the same PRICE level so that they too, can exit there. Then this keeps repeating until all the M5 Big Boys get out at the same PRICE. When finally they are all out, they start buying again but only up to the 200 moving average.
15 YEARS OF PASR ON FOREX FACTORY!
  • #5,099
  • May 21, 2018 11:08am May 21, 2018 11:08am
PASR

Quoting Suran
{quote} Thanks for the feed back strat. only use those trend lines UNTIL you UNDERSTAND how PRICE behaves and reacts in and around the Strat Shadow Yes I am using the trend line only to see price converge/Diverge to strat shadow and then after I get a entry candle I will enter. If its saw tooth structure.. Do not ignore what this is telling you. Even though you are in profit, you may not be suited to this time frame. I got fed up looking at the screen because I was infront of the screen whole the day. Early morning I was reading THE PATH and afternoon...
I got fed up looking at the screen because I was in front of the screen whole the day. Early morning I was reading THE PATH and afternoon trying to catch a trend.

Be careful doing this or you will burn yourself out. There is much more to LIFE than trading. Make sure you balance trading with having a LIFE.

Just take your time in learning PASR - there is no hurry - the Market will always be there when YOU are ready,
15 YEARS OF PASR ON FOREX FACTORY!
  • #5,100
  • May 21, 2018 2:00pm May 21, 2018 2:00pm
Quoting strat
PASR {quote}{quote} Thank you for posting this. promising them a monthly returns of 40%; boasted could make 100% returns monthly on such funds This should have been the Mother of all Red Flags! Sometimes, I wish i had found you a decade ago but since anytime a man wakes up is his morning Powerful analogy. And i cannot but see myself clearly depicted in the first 2 steps presently. You were in Stage 2 but you have progressed to the beginning of Stage 3 so keep on The Path. i know i have the time to study, understand and imbibe as long as you will...
i appreciate you strat
Thank you for your encouraging words
I look forward to a lasting and profitable study under your watchful mentorship in this place.
You are indeed the Boss.

Emeka
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