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Strat's PASR Long Term, Stress Free Trading

  • #5,581
  • Jun 21, 2018 5:55pm Jun 21, 2018 5:55pm
PASR

Quoting ReelTrader
{quote} Thanks Mucky! It makes sense. As I am reading and trying to understand. I find I still micro manage the trades, which may be hindering my progress. Waiting for closes and PASR to form on the weekly before looking at the daily is something I need to work on. This is where my confusion may now lie. Once entering the trade on the daily, I dont see why we need to look at the daily again unless there are Sr levels on the daily we need to watch, but then again that defeats the purpose of using the weekly and monthly levels. I will keep reading...
PASR One more time!

EURAUD example

Big Boss:

The Big Boys make their intentions very clear in April and May 2017 - see blue rectangle

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Boss:

The Boss gives us PASR on week ending July 21, 2017 - see blue rectangle.

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Worker:

The Worker gives us PASR on July 27, 28 and 31, 2017 - see blue rectangle

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What is there NOT to UNDERSTAND? - there is nothing any SIMPLER than PASR

I find I still micro manage the trades, which may be hindering my progress

This is because you do NOT UNDERSTAND PASR and have NOT spent thousands of hours studying and practicing on thousands of charts.

Once entering the trade on the daily, I dont see why we need to look at the daily again

Then HOW are you going to MANAGE your trade(s)? Are you expecting them to go in a straight line to your Take Profit? Don't you want to ADD ON?

Also UNDERSTAND the latest trades from BeyondTheSea along with all the other many examples on BOTH threads.
15 YEARS OF PASR ON FOREX FACTORY!
  • #5,582
  • Jun 21, 2018 6:15pm Jun 21, 2018 6:15pm
Thanks BeyondTheSea and Strat!

Strat, the latest example provided an amazing amount of clarification. The managing part made sense, something I had not thought about consciously. Will continue to understand the charts.
  • #5,583
  • Jun 22, 2018 12:57am Jun 22, 2018 12:57am
Quoting BeyondTheSea
Had some trades close due to protective stops today. All in the green. EURUSD GBPJPY GBPUSD USDCAD AUDUSD GBPUSD second round of shorts,this trend has been VERY good to me. {image} USDCAD This is a more interesting chart. My entry was based on the Boss and the Worker, it immediately went into draw down. But why didn't I close it? Well, my initial risk was the Boss swing low so I'd accepted that BEFORE my trade. Using the Worker and Boss Chart I never saw sellers at all and managed my risk up using the worker lows and the Strat Shadow. This trade...
Quoting strat
PASR {quote} PASR One more time! EURAUD example Big Boss: The Big Boys make their intentions very clear in April and May 2017 - see blue rectangle {image} Boss: The Boss gives us PASR on week ending July 21, 2017 - see blue rectangle. {image} Worker: The Worker gives us PASR on July 27, 28 and 31, 2017 - see blue rectangle {image} What is there NOT to UNDERSTAND? - there is nothing any SIMPLER than PASR I find I still micro manage the trades, which may be hindering my progress This is because you do NOT UNDERSTAND PASR and have NOT spent thousands...

These two posts are gold. Bookmarked.
  • #5,584
  • Jun 22, 2018 9:37am Jun 22, 2018 9:37am
Hello, My name is Ben and I'm new to this thread. Not new to trading though.
I've been studying this strategy for a week now and I'm glad I found this after
a long period of using too many indicators and too many losses.

Most difficult will be to not fall into my own traps; back to lagging indicators.

I hope to see this weekend some preparations/plans for next week, so that I
can compare with my own thoughts on applying this strategy

A big "Thank You" to Strat and all that (co-)produced this strategy ....

Ben
  • #5,585
  • Jun 22, 2018 9:46am Jun 22, 2018 9:46am
Here is a 36 pips AUDNZD basic PASR trade on 1H. Traded from daily support. Used trailing stop under candles close to weekly resistance (blue line).

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Paal
  • #5,586
  • Jun 22, 2018 12:29pm Jun 22, 2018 12:29pm
PASR

Quoting campco
Hello, My name is Ben and I'm new to this thread. Not new to trading though. I've been studying this strategy for a week now and I'm glad I found this after a long period of using too many indicators and too many losses. Most difficult will be to not fall into my own traps; back to lagging indicators. I hope to see this weekend some preparations/plans for next week, so that I can compare with my own thoughts on applying this strategy A big "Thank You" to Strat and all that (co-)produced this strategy .... Ben
9 years on Forex Factory and you are STILL thread hopping? That's what looking for, and relying on, indicators does to you.

glad I found this after a long period of using too many indicators and too many losses.

Most difficult will be to not fall into my own traps; back to lagging indicators.

That is 100% up to you and your DISCIPLINE - no-one else's.

Here is yet one of many examples of LOSSES caused by following and trading indicators. THERE IS NO SUBSTITUTE FOR PRICE ACTION. Indicators only show what PRICE ACTION did but several candles LATER

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15 YEARS OF PASR ON FOREX FACTORY!
  • #5,587
  • Edited 2:58pm Jun 22, 2018 12:32pm | Edited 2:58pm
AUDNZD Basic PASR 36 pips

Quoting kirinda
Here is a 36 pips AUDNZD basic PASR trade on 1H. Traded from daily support. Used trailing stop under candles close to weekly resistance (blue line). {image} Paal
Well done! It is EASY when you UNDERSTAND PASR.
15 YEARS OF PASR ON FOREX FACTORY!
  • #5,588
  • Jun 22, 2018 2:32pm Jun 22, 2018 2:32pm
Hi Strat,

Let me know if I am posting too much. Still reading, learning, and soaking in the thread.There is quite alot of good stuff and am amazed that a lot of questions I have have been answered and the amount of repetition to drill in the concept of PASR. I do know I stuggle with the trend PASR since I view the SR levels as strict horizontally. Maybe that will change with time. But it seems managing a basic PASR is much different from trending PASR. I know it is due to my fear of when to take a hit with trending PASR. Anyways, I thought AUD/JPY had an obvious basic PASR.

Monthly big boss is in consolidation stuck at the 80 support
Weekly boss shows a range between 84 and 80
Daily worker: shows the ping pong action. Towards the end of the day I will enter a long due to the outside bar forming. Now, Back to the thread!
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  • #5,589
  • Jun 22, 2018 3:03pm Jun 22, 2018 3:03pm
PASR

Quoting ReelTrader
Hi Strat, Let me know if I am posting too much. Still reading, learning, and soaking in the thread.There is quite alot of good stuff and am amazed that a lot of questions I have have been answered and the amount of repetition to drill in the concept of PASR. I do know I stuggle with the trend PASR since I view the SR levels as strict horizontally. Maybe that will change with time. But it seems managing a basic PASR is much different from trending PASR. I know it is due to my fear of when to take a hit with trending PASR. Anyways, I thought AUD/JPY...
Let me know if I am posting too much.

Quality is what counts, NOT quantity.

I do know I struggle with the trend PASR. But it seems managing a basic PASR is much different from trending PASR

These tell me you are not on The Path. The Path teaches you to read, learn and UNDERSTAND BASIC PASR first before anything else. Hardly surprising you are confusing yourself!
15 YEARS OF PASR ON FOREX FACTORY!
  • #5,590
  • Jun 22, 2018 3:15pm Jun 22, 2018 3:15pm
AUDJPY

Quoting ReelTrader
Anyways, I thought AUD/JPY had an obvious basic PASR. Monthly big boss is in consolidation stuck at the 80 support Weekly boss shows a range between 84 and 80 Daily worker: shows the ping pong action. Towards the end of the day I will enter a long due to the outside bar forming. Now, Back to the thread! {image}
I thought AUD/JPY had an obvious basic PASR

You wrote"big boss is in consolidation", "boss shows a range", "worker: shows the ping pong action" - SO WHERE DO YOU SEE PASR?

What the hell is "ping pong action?" There is no such thing in PASR. Have you really read either thread?

Towards the end of the day I will enter a long due to the outside bar forming

PASR does NOT trade candles ""forming"". PASR trades CLOSED CANDLES.

Trading "forming" candles shows the RANK AMATEUR that you are and CONFIRMS you are not on The Path. This will empty your account faster than trading indicators!

How do you expect to SEE PASR when you are compressing 4 charts into one screen?
15 YEARS OF PASR ON FOREX FACTORY!
  • #5,591
  • Jun 22, 2018 3:44pm Jun 22, 2018 3:44pm
Quoting strat
AUDJPY {quote} I thought AUD/JPY had an obvious basic PASR You wrote"big boss is in consolidation", "boss shows a range", "worker: shows the ping pong action" - SO WHERE DO YOU SEE PASR? What the hell is "ping pong action?" There is no such thing in PASR. Have you really read either thread? Towards the end of the day I will enter a long due to the outside bar forming PASR does NOT trade candles ""forming"". PASR trades CLOSED CANDLES. Trading "forming" candles shows the RANK AMATEUR that you are and CONFIRMS you are not on The Path. This will empty...
Maybe I am not explaining my thoughts clearly. So the PSAR trade is on the daily with the close of the Outside bar with the black arrow.

I tend to say ping pong, but you normally say bouncing from support to resistance - The basic PASR trade. (Maybe I will just keep the term to myself.)

More work for me to do if I dont get it. I will keep reading. Eventually, I will get it.
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  • #5,592
  • Jun 22, 2018 4:36pm Jun 22, 2018 4:36pm
AUDJPY

Quoting ReelTrader
{quote} Maybe I am not explaining my thoughts clearly. So the PSAR trade is on the daily with the close of the Outside bar with the black arrow. I tend to say ping pong, but you normally say bouncing from support to resistance - The basic PASR trade. (Maybe I will just keep the term to myself.) More work for me to do if I dont get it. I will keep reading. Eventually, I will get it. {image}
Maybe I am not explaining my thoughts clearly.

Yes you are, very clearly:

""Towards the end of the day I will enter a long due to the outside bar forming.""

That candle HAD NOT CLOSED when you wrote this!!!!!!!!!
15 YEARS OF PASR ON FOREX FACTORY!
  • #5,593
  • Jun 22, 2018 4:58pm Jun 22, 2018 4:58pm
Quoting strat
AUDJPY {quote} Maybe I am not explaining my thoughts clearly. Yes you are, very clearly: ""Towards the end of the day I will enter a long due to the outside bar forming."" That candle HAD NOT CLOSED when you wrote this!!!!!!!!!
Okay Okay. Peace Peace. Yes you are correct. It needs to fully close before I write something. But, my main concern is, was that a correctly identified PASR? At that time, no. It was forming. But now, I believe so.

In its own unique way, this is teaching me discipline. Before I post, I will wait for candle closures.

Thanks Strat for kicking my ass
  • #5,594
  • Jun 22, 2018 5:45pm Jun 22, 2018 5:45pm
I want to study strat's The Power of Time Frames in detail. In the thread, I am seeing a lot that strat is telling people to study The Power of Time Frames and from the sound of it, it seems to me that there is a detailed post(s) on this topic. I am trying to find the detailed post(s) on this but so far I couldn't. I have found the quick refresher post in the old thread (#11,342), another informative post on power of time frames in this thread (#2791), visual charts of power of time frames in old thread (#18361-18368), quick summary in old thread which is similar to the one in PDF (#21350), first steps of looking at time frames post in this thread (#430) and another good summary of power of time frames in this thread (#1517). but I haven't been able to find the MAIN detailed post on The Power of Time Frames. The PDF also has a section on Power of Time Frames but that's also a summary. If anyone knows where the main detailed post is located on this topic, please let me know.

I also came across something interesting. And if strat allows, I would like to welcome anyone who is interested to help compile a road map such as this one. We can organise the topics like this.
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  • #5,595
  • Jun 22, 2018 7:42pm Jun 22, 2018 7:42pm
Quoting jas0992
I want to study strat's The Power of Time Frames in detail. In the thread, I am seeing a lot that strat is telling people to study The Power of Time Frames and from the sound of it, it seems to me that there is a detailed post(s) on this topic. I am trying to find the detailed post(s) on this but so far I couldn't. I have found the quick refresher post in the old thread (#11,342), another informative post on power of time frames in this thread (#2791), visual charts of power of time frames in old thread (#18361-18368), quick summary in old thread...
There is this post in the old thread. https://www.forexfactory.com/showthr...16#post2608716
  • #5,596
  • Jun 22, 2018 8:12pm Jun 22, 2018 8:12pm
Quoting Rub
{quote} There is this post in the old thread. https://www.forexfactory.com/showthr...16#post2608716
Thanks. This is the same post that is in the PDF as well. I think there is a more detailed post on power of time frames that has been referenced many times by strat in both threads but I can't find it.
  • #5,597
  • Jun 23, 2018 12:07am Jun 23, 2018 12:07am
Update on my trade this week

EURCAD #5568
+85pips
On Firday it almost touch my resistance then revert almost the whole candle.
As I cannot wait the candle close, so I closed few hour before the market ends, and formed a shorter star or daily chart
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USDCAD #5504
1st entry : +91pips
2nd entry: +2 pips

Although still a little bit away from my resistance, but the reversal of the candle scared me out.
before my 2nd entry become a loss, I choose the get out
If next week it retest on the 1.3072 support and show PA, I may re-entry it.
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  • #5,598
  • Jun 23, 2018 1:31am Jun 23, 2018 1:31am
Quoting ReelTrader
{quote} Maybe I am not explaining my thoughts clearly. So the PSAR trade is on the daily with the close of the Outside bar with the black arrow. I tend to say ping pong, but you normally say bouncing from support to resistance - The basic PASR trade. (Maybe I will just keep the term to myself.) More work for me to do if I dont get it. I will keep reading. Eventually, I will get it. {image}
Hi, ReelTrader

1st, Do you use the right setting of MA? Your chart is different from me.

2nd, Agree with that the Price is TRAPPED in a TRADING RANGE, so we can use the BASIC PASR TRADE.

3rd, But the Price is at the Resistance now. So, I wouldn't Buy into Resistance.

My plan is waiting Price to re-test the Support, make a HL and then enter LONG.
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Regards

Cj
Don't Rush Things, Be PATIENT and Wait For the Best Trade Setup
  • #5,599
  • Jun 23, 2018 4:27am Jun 23, 2018 4:27am
Good day all. I've had my one trade stopped out and I can't really figure it out using price action. I traded WTI crude oil which I remember is a wild beast and requires experience and risk tolerance to trade. I accepted the risk and I am okay with the outcome but in order to progress further on the Path, I feel like I must understand if there was a genuine Price Action reason that my trade failed or it was due to OPEC meeting yesterday.

So I put a sell order on WTI.

Boss: Price closed below SS, was rejected at resistance at 67. One thing is that the uptrend is still intact and going up strong, so I would say it was a counter trend trade.
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Worker: I noticed LH and LL structure, with strong selling from May 25th to June 15th. On the 15th price was strongly rejected at resistance and again closed below SS. That's where I've put my sell order - below the large bearish candle on the 15th of June. Well, price went further down, took my order, and looked like it was going to retest the resistance level, but since it made a LL, I stayed in with my stop being above last swing high. Then yesterday during the OPEC meeting couple of decisions were made:

  1. OPEC ministers announced a deal on Friday that will increase oil supplies from the producer group.
  2. Producers agreed to start pumping more so that they are no longer overshooting the production limits they agreed to in November 2016.
  3. Analysts say the agreement is likely to add around 600,000 to 800,000 barrels a day to the market, helping to tame oil prices that have soared to multi-year highs recently.

Attached Image (click to enlarge)
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That fundamental news should have also resulted in drop in price, as supply was agreed to be increased. But instead, price shot up and took my stop out. I suspect that I did not pay attention to the Boss of the Worker and overall trend.
  • #5,600
  • Jun 23, 2018 5:41am Jun 23, 2018 5:41am
Quoting Svolacius
Good day all. I've had my one trade stopped out and I can't really figure it out using price action. I traded WTI crude oil which I remember is a wild beast and requires experience and risk tolerance to trade. I accepted the risk and I am okay with the outcome but in order to progress further on the Path, I feel like I must understand if there was a genuine Price Action reason that my trade failed or it was due to OPEC meeting yesterday. So I put a sell order on WTI. Boss: Price closed below SS, was rejected at resistance at 67. One thing is that...
The Boss is in an up trend, supported by Strat Shadow, price is entering support zone, so I wouldn't have sold...
I don't rely on analyst sayings because this is not their money...
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