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Strat's PASR Long Term, Stress Free Trading

  • #5,821
  • Jul 13, 2018 1:06pm Jul 13, 2018 1:06pm
GBPJPY M5 PASR Trend Trading

Quoting MikuSS
{quote} Hi Humbucker, I was in a similar trade as you, but I exited earlier than you. I chickened out after seeing 3 wicky candles. Still trying to get used to trading M5. Coincidentally, around the same price. Well, a profit is a profit. Hopefully I can improve on this strategy. Perhaps the highlighted Hammer candle be a good sign for us to exit. {image}
Humbucker and Miku,

You both did good. As you do more trades and gain experience and comfort with M5, look to enter, or as near as possible, to the Strat Shadow where I have placed my Red Arrows.

Where Miku got out and took profit is where I would probably have got out if I traded it (This is London Session while I am in the Land of Nod). I doubt whether any trader could have hung on and got out at the doji you highlighted.

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15 YEARS OF PASR ON FOREX FACTORY!
  • #5,822
  • Jul 13, 2018 10:53pm Jul 13, 2018 10:53pm
Time for some end-of-week analysis.

USDCAD

BB: Price is still in an upswing, and showing no signs of stopping yet.
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B: This week's candle formed a BUEB/DBLHC-ish candle at Support, indicating a momentum to the upside as well.
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Worker: The huge BUEB candle on 11th July shows that buyers are present. From the looks of the candle of 12th and 13th, it seems like price wants to retest support again before going higher. Again, no speculation. I am keeping an open mind and let PASR decide if a trade will happen this week.
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  • #5,823
  • Jul 13, 2018 11:34pm Jul 13, 2018 11:34pm
EURJPY

Inverted Hammer at confluence of resistance and Weekly Control Candle.

Is it ok to place a sell stop below the hammer?

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  • #5,824
  • Jul 14, 2018 7:10am Jul 14, 2018 7:10am
This week is also a quiet week for me and have no trade on the daily time frame.
While I closed my trade on AUDNZD which took last week #5757
Just after I enter the trade, the day was closed with a large bullish candle....
Was my analysis incorrect?

I also start to trade lower time frame on Friday, but 5 minute is too much for me, so I focus on 1hr (with 4hr and daily as boos and big boss)
USDJPY +140psips
although there is a nice PA at the first blue arrow, but it is just below my top of WCC.
so I take the trade at the second blue arrow, where a long which pull back candle at the shadow.
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Will start my weekly analysis tomorrow
  • #5,825
  • Jul 14, 2018 5:45pm Jul 14, 2018 5:45pm
GBPJPY

Howdy all.

Getting ready to head out tomorrow for a short fly fishing trip in Idaho. for those familiar with the area; a beautiful place on the western side of the Grand Tetons. So my saw tooth pattern will be much larger next week.

One of the things I have started doing is looking at the 4h candle that closes 1hr after the US open. Sometimes there is an entry there. The one below was entered with the close of the candle and you can see where the target is. 10 pips from closing. Come Sunday maybe it will hit.


Hopefully I have a some internet next week. I always enjoy keeping up with the thread.

Rufus


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Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #5,826
  • Jul 14, 2018 8:08pm Jul 14, 2018 8:08pm
Quoting strat
PASR Swing Trading {quote} Don't be so hard on yourself, Rub. Trading to be CONSISTENTLY profitable takes a lot of experience resulting from thousands of hours studying, practicing and trading. Do not expect to do all the facets of PASR in one big lump. Split it into sections that you can understand and trade profitably. PASR Swing trading is different to Basic PASR and Trend PASR and requires the usual amount of understanding, study, time and practice so don't expect to "flick a switch" and be profitable just because you ""think"" you understand...
Don't get me wrong, while it's frustrating I am seeing results. It's part of why I have been posting my updates every 3 months to show concrete proof. I know a few of the things I need to work on, most of which a psychological, and I'm sure I will get there eventually. Being a stubborn bastard sometimes works in my favor!


At the end of the day though, I'm trying to keep in mind the end goal. Which is to work less and do more like yesterday. It was a fantastic winter day here so I went for walk around the botanic gardens and along the river. I just missed a photo capturing the water glittering after a boat went past. To me, these sort of small things are what I enjoy. While expensive dinners, etc. a nice and all the things that stick with me are experiences like this.

Rufus, hope your trip was good. That's a beautiful looking spot that reminds me of a couple of times I was out in the sticks watching the fog lift from the top of a hill. You can't buy those experiences, it just happens and sometimes you're lucky enough to be there for them.
  • #5,827
  • Jul 14, 2018 9:14pm Jul 14, 2018 9:14pm
One week PASR journey passed.
The result is that I move my worker from 4H to be daily chart now.
I paid 100+ pips tuition fee in total to get there.

Hi Strat, Rufus and other experienced PASR member,

As a very junior member in both PASR and Forex, I might ask some really stupid questions. Hope you don't mind.
I want to make sure my process of basic PASR is correct in the first place.
Could you please take a look and comment on my following process?
1. Use line style to look at my Big Boss, Boss and Worker to find out what trend they are.
2. Use line style to find out the S&R at Big Boss and Boss.
3. Use line style to find out if the current price is near the S&R.
IF the current price is near the S&R, THEN:
4. Use candle stick style to find if there is a signal (shooting star, hammer, IB, OB) in my Boss.
IF there is a signal, AND there is no big events (interest rate changes, non-farm, GDP and inflation ):
5. look for entry opportunity at my Worker.

Questions:
1. Where and how can I have the Strat Shadow?
2. I think practice is the key. As I might not have any trade in one week when I trade on daily chart, I plan to use lower time frame to practice my sense of PASR.
Which time frame would you recommend? d/4h/1h, 4h/1h/15m or any others?

Thank you very much.
We don't see things as they are, we see them as we are.
  • #5,828
  • Jul 14, 2018 9:31pm Jul 14, 2018 9:31pm
Quoting Rufus
GBPJPY Howdy all. Getting ready to head out tomorrow for a short fly fishing trip in Idaho. for those familiar with the area; a beautiful place on the western side of the Grand Tetons. So my saw tooth pattern will be much larger next week. One of the things I have started doing is looking at the 4h candle that closes 1hr after the US open. Sometimes there is an entry there. The one below was entered with the close of the candle and you can see where the target is. 10 pips from closing. Come Sunday maybe it will hit. Hopefully I have a some internet...
Hi Rufus,
Enjoy your trip in Idaho. I googled the images of Idaho and Grand Teton. Both of them are very pretty.
Maybe a trip is another way to have a fresh eye on everything we have in our life?
If there is no good internet, we will see you when you get back.
We don't see things as they are, we see them as we are.
  • #5,829
  • Jul 14, 2018 10:00pm Jul 14, 2018 10:00pm
Quoting brian661
This week is also a quiet week for me and have no trade on the daily time frame. While I closed my trade on AUDNZD which took last week #5757 Just after I enter the trade, the day was closed with a large bullish candle.... Was my analysis incorrect? I also start to trade lower time frame on Friday, but 5 minute is too much for me, so I focus on 1hr (with 4hr and daily as boos and big boss) USDJPY +140psips although there is a nice PA at the first blue arrow, but it...
Hi Brian,

I was in the same AUDNZD trade with you as well, but I entered a candle before you and got stopped out at BE.

To be fair, that was a counter-trend trade as the Boss and Big Boss was (and is still) in an upswing. Don't fret about it, and go look for another trade.

Good entry on the H1 candle! Seems like a wonderful Trend PASR trade.
  • #5,830
  • Jul 15, 2018 1:10am Jul 15, 2018 1:10am
Quoting Victoria2017
One week PASR journey passed. The result is that I move my worker from 4H to be daily chart now. I paid 100+ pips tuition fee in total to get there. Hi Strat, Rufus and other experienced PASR member, As a very junior member in both PASR and Forex, I might ask some really stupid questions. Hope you don't mind. I want to make sure my process of basic PASR is correct in the first place. Could you please take a look and comment on my following process? 1. Use line style to look at my Big Boss, Boss and Worker to find out what trend they are. 2. Use...


Hi Victoria

Hope you are having a super weekend.

I will dig into your questions this evening as I nurse a glass of Kraken.

One week PASR journey passed. The result is that I move my worker from 4H to be daily chart now.

One week is not enough time to make firm decisions about what time frame suits you psychologically. It can be years. In my opinion, look at all time frames, you don't need to trade them. Start looking at them and getting a feel for how they "communicate" to you. Traders gravitate to ward their specialty. This doesn't mean you trade only your specialty time frame, you can still trade others.

Spend lots of time going through the threads. There is a tendency as one looks at post after post, to start skimming. Try not to. You can spend months learning the information here.

As a very junior member in both PASR and Forex, I might ask some really stupid questions.

Being new to Forex and PASR is an advantage to you. Bad habits are hard to break. Study PASR and the other tools in this thread and you will develop good habits.
Also there is no such thing as a stupid question when someone is working hard and is meek to learn.

1. Use line style to look at my Big Boss, Boss and Worker to find out what trend they are

Why line charts? In less they communicate to you better. I use Strat Shadow for all.

2. Use line style to find out the S&R at Big Boss and Boss

Same answer as above. To me simplicity is key. Again my opinion. Changing chart formats etc. complicates things.

3. Use line style to find out if the current price is near the S&R. IF the current price is near the S&R, THEN

Maybe Strat said something in the threads I have forgotten or missed. But all this can be done easily on candle sticks.


Questions: 1. Where and how can I have the Strat Shadow?

You have to be a part of the secret order of the Strats….Secret handshake, codes, and meetings in secret places... Kraken is good.
Look on page 242. There is a good explanation there. Now if you had gone through the thread you would have found this...

Which time frame would you recommend? d/4h/1h, 4h/1h/15m or any others? Thank you very much.

All of them. You are at the stage of experimenting. Recently there have been some fabulous trade posted by Samsonwebdes. Study all time frames. Again you are the one who will discover what communicates to your mind.

The Fx journey for me has been more of one of self discovery. Technically any trade has a 50/50 chance of going up or down. Yet most traders lose. The battle is fought in our heads win or lose. Most new traders get more hung up on the "System" , the system is important. But our metal tenacity is more so.

Thanks for asking questions. Most just lurk on the fringes of the "Shadow" . The more involved we become, the more learning there will be.

Rufus
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #5,831
  • Edited 2:23am Jul 15, 2018 2:12am | Edited 2:23am
Quoting Victoria2017
One week PASR journey passed. The result is that I move my worker from 4H to be daily chart now. I paid 100+ pips tuition fee in total to get there. Hi Strat, Rufus and other experienced PASR member, As a very junior member in both PASR and Forex, I might ask some really stupid questions. Hope you don't mind. I want to make sure my process of basic PASR is correct in the first place. Could you please take a look and comment on my following process? 1. Use line style to look at my Big Boss, Boss and Worker to find out what trend they are. 2. Use...
Hi Victoria,

In addition to the wonderful explanation by Rufus, I might want to add on that drawing Support and Resistance zones is an art. I have studied how to identify and drawing it for many years, yet I feel that I am still not there yet.

I advise you to start drawing zones from the Big Boss, refine in the Boss and then the Worker. Unfortunately, there is no 1 way to draw these zones. With that being said, I do not really like how the lines are being drawn on the PDF of the first page. You end up identifying too many minor zones in the process.

The easiest way for you to learn is to start posting your charts with the zones drawn. I am sure the members here will be more than happy to help you in any way.

EDIT: IF there is a signal, AND there is no big events (interest rate changes, non-farm, GDP and inflation ):
5. look for entry opportunity at my Worker.

If trading on the Daily, there is not really a need to care about the news IF you have done your analysis correctly and placed your SL at proper location. Usually, the Big Boys already know the news in advance, and this can be seen from the charts.

Of course, this cannot be done on H4 and below.
  • #5,832
  • Jul 15, 2018 3:59am Jul 15, 2018 3:59am
Quoting brian661
This week is also a quiet week for me and have no trade on the daily time frame. While I closed my trade on AUDNZD which took last week #5757 Just after I enter the trade, the day was closed with a large bullish candle.... Was my analysis incorrect? I also start to trade lower time frame on Friday, but 5 minute is too much for me, so I focus on 1hr (with 4hr and daily as boos and big boss) USDJPY +140psips although there is a nice PA at the first blue arrow, but it...
AUDNZD

I took this trade too but a bit earlier and managed to close at BE.

There was a support around 1.086, and price reacted at this level
  • #5,833
  • Jul 15, 2018 5:19am Jul 15, 2018 5:19am
Quoting Rufus
{quote} Hi Victoria Hope you are having a super weekend. I will dig into your questions this evening as I nurse a glass of Kraken. One week PASR journey passed. The result is that I move my worker from 4H to be daily chart now. One week is not enough time to make firm decisions about what time frame suits you psychologically. It can be years. In my opinion, look at all time frames, you don't need to trade them. Start looking at them and getting a feel for how they "communicate" to you. Traders gravitate to ward their specialty. This doesn't mean...
Hi Rufus,
I have never tried Kraken. Actually, I have never heard about it before. I will try one when I go to a bar and let you how do I feel about it.

Thank you very much for the reply.
The reason I use LINE style is because Strat said using line style will avoid being distracted by the high and low. The close price is the most important.
Thanks for pointing out the page 242. I will set up Strat Shadow and use it instead. The Strat Shadow is based on close price so I don't need to worry about the distraction.
The reason I change to be daily chart is because Strat said he does analysis when the day finish when he trades on daily chart. So theoretically I should do my analysis every 4 hours when I trade on 4H chart. It doesn't work on me. I'd better trade either higher time frame or lower time frame.
I think I need to work harder to learn and understand PASR.

Thank you again.
We don't see things as they are, we see them as we are.
  • #5,834
  • Jul 15, 2018 5:25am Jul 15, 2018 5:25am
Quoting MikuSS
{quote} Hi Victoria, In addition to the wonderful explanation by Rufus, I might want to add on that drawing Support and Resistance zones is an art. I have studied how to identify and drawing it for many years, yet I feel that I am still not there yet. I advise you to start drawing zones from the Big Boss, refine in the Boss and then the Worker. Unfortunately, there is no 1 way to draw these zones. With that being said, I do not really like how the lines are being drawn on the PDF of the first page. You end up identifying too many minor zones in...
Hi Miku,
Thank you for your reply.
I will start to post my chart from next week after I set up the Strat Shadow.
Thank you for the tips of news.
I am so grateful to get into this thread. The only pity is that I should have been here early.
You guys are so selfless.
We don't see things as they are, we see them as we are.
  • #5,835
  • Jul 15, 2018 9:09am Jul 15, 2018 9:09am
EURJPY

Quoting MikuSS
EURJPY Inverted Hammer at confluence of resistance and Weekly Control Candle. Is it ok to place a sell stop below the hammer? {image} {image}
Please identify your ""Inverted Hammer""

Is it ok to place a sell stop below the hammer?

Why would you want to do this? PRICE is 680 pips above that level. By the time PRICE reaches that level, many things could have changed and make trading that level irrelevant. PASR trades in the HERE and NOW - not in the future.
15 YEARS OF PASR ON FOREX FACTORY!
  • #5,836
  • Edited 9:35am Jul 15, 2018 9:15am | Edited 9:35am
USDCAD

Quoting MikuSS
Time for some end-of-week analysis. USDCAD BB: Price is still in an upswing, and showing no signs of stopping yet. {image} B: This week's candle formed a BUEB/DBLHC-ish candle at Support, indicating a momentum to the upside as well. {image} Worker: The huge BUEB candle on 11th July shows that buyers are present. From the looks of the candle of 12th and 13th, it seems like price wants to retest support again before going higher. Again, no speculation. I am keeping an open mind and let PASR decide if a trade will happen this week. {image}
BB: Price is still in an upswing, and showing no signs of stopping yet.

Are you sure?

Attached Image (click to enlarge)
Click to Enlarge Name: USDCADMonthly.png Size: 56 KB
15 YEARS OF PASR ON FOREX FACTORY!
  • #5,837
  • Jul 15, 2018 9:19am Jul 15, 2018 9:19am
USDJPY H1

Quoting brian661
This week is also a quiet week for me and have no trade on the daily time frame. While I closed my trade on AUDNZD which took last week #5757 Just after I enter the trade, the day was closed with a large bullish candle.... Was my analysis incorrect? I also start to trade lower time frame on Friday, but 5 minute is too much for me, so I focus on 1hr (with 4hr and daily as boos and big boss) USDJPY +140psips although there is a nice PA at the first blue arrow, but it...
Well done, Brian. This shows your good understanding of PASR
15 YEARS OF PASR ON FOREX FACTORY!
  • #5,838
  • Edited 10:51am Jul 15, 2018 9:22am | Edited 10:51am
Quoting Rufus
GBPJPY Howdy all. Getting ready to head out tomorrow for a short fly fishing trip in Idaho. for those familiar with the area; a beautiful place on the western side of the Grand Tetons. So my saw tooth pattern will be much larger next week. One of the things I have started doing is looking at the 4h candle that closes 1hr after the US open. Sometimes there is an entry there. The one below was entered with the close of the candle and you can see where the target is. 10 pips from closing. Come Sunday maybe it will hit. Hopefully I have a some internet...
So my saw tooth pattern will be much larger next week.

That is a very nice saw tooth pattern on the mountain range in the distance on your photo, Rufus. I love those eerie, misty situations.
15 YEARS OF PASR ON FOREX FACTORY!
  • #5,839
  • Jul 15, 2018 9:28am Jul 15, 2018 9:28am
PASR

Quoting Victoria2017
{quote} Hi Rufus, I have never tried Kraken. Actually, I have never heard about it before. I will try one when I go to a bar and let you how do I feel about it. Thank you very much for the reply. The reason I use LINE style is because Strat said using line style will avoid being distracted by the high and low. The close price is the most important. Thanks for pointing out the page 242. I will set up Strat Shadow and use it instead. The Strat Shadow is based on close price so I don't need to worry about the distraction. The reason I change to be...
The reason I use LINE style is because Strat said using line style will avoid being distracted by the high and low.

Correct, but that was for very beginners new to forex and trading so that they can immediately SEE and UNDERSTAND PRICE closing at and around support and resistance.

Having seen and understood this, you must quickly move to candlesticks as they are the life and blood of PASR

I think I need to work harder to learn and understand PASR.

We all have to do this if we want to be consistently profitable traders able to Trade For A Living
15 YEARS OF PASR ON FOREX FACTORY!
  • #5,840
  • Jul 15, 2018 10:21am Jul 15, 2018 10:21am
Quoting strat
EURJPY {quote} Please identify your ""Inverted Hammer"" Is it ok to place a sell stop below the hammer? Why would you want to do this? PRICE is 680 pips above that level. By the time PRICE reaches that level, many things could have changed and make trading that level irrelevant. PASR trades in the HERE and NOW - not in the future.
Sorry Strat, I meant a Hanging Man on the Worker chart.
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