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Strat's PASR Long Term, Stress Free Trading

  • #6,721
  • Sep 11, 2018 10:56am Sep 11, 2018 10:56am
PASR

Quoting Juan007
i was take. the 50% and BE free trade +20.3 pips question: What is your opinion to close the tade or let it continue? Your comments are welcome {image}
What is your opinion to close the trade or let it continue?

Other opinions do not count - what does your PLAN tell you to do?
15 YEARS OF PASR ON FOREX FACTORY!
  • #6,722
  • Sep 11, 2018 11:00am Sep 11, 2018 11:00am
Quoting Corinna
{quote} Nicely said.
You first post in 3 months and this is ALL you have to say?
15 YEARS OF PASR ON FOREX FACTORY!
  • #6,723
  • Sep 11, 2018 1:37pm Sep 11, 2018 1:37pm
Quoting strat
EURJPY {quote} Hi Terry, as soon as I saw this I knew your trade was in trouble but I did not want to comment as I wanted others to post to help you. The comments from Rub, Mhons, Humbucker and Svolacius were "spot on" so thank you for helping Terry. The ""floating"" Hammer in a sideways action in an incorrect location on the Big Boss is what killed it stone dead for me. {image}
Thanks Strat and others who commented. After looking at what I had done and got your feedback, I realized that I should not have even considered this trade. I closed today for a small loss.
  • #6,724
  • Edited 3:04pm Sep 11, 2018 1:48pm | Edited 3:04pm
Quoting strat
USDJPY {quote} I'm confused. Your post says ""H4 trade" yet your ""w h1"" shows your trading chart as H1. Do you ""know"" which time frame you are actually trading? While PASR is ""chart-wise"" set up correctly for a trade, your Money Management will put you in the ""LOSERS"" column in a short space of time. Your ""RISK"" is about 30 pips for a 21 pips REWARD!!!!!! Do you know what our #1 Rule is? Are you "desperate" to trade? PASR traders trade to live while the LOSERS ""Live To Trade"". Experienced PASR traders will not even look at anything with...
Thanks

Chart h4

the other charts are to see where is the trade

BB=D1
B=H4
W=1H

BE
1 PART 50% win

Free trader

The stop move to D1 res after go up

TP at the W1 res 87 pips
Attached Image(s) (click to enlarge)
Click to Enlarge Name: USDJPYM15 TP WEEK.png Size: 63 KB
Click to Enlarge Name: USDJPYDaily BB.png Size: 57 KB
Click to Enlarge Name: USDJPYH4 B.png Size: 65 KB
Click to Enlarge Name: USDJPYH1 W.png Size: 55 KB
  • #6,725
  • Sep 11, 2018 1:52pm Sep 11, 2018 1:52pm
AUDUSD and EURAUD (PS and AUDJPY)

Both pairs are not ripe yet but those who follow The Path like me should be attentive to price action between now and the end of the week

Trade safe
  • #6,726
  • Sep 11, 2018 2:44pm Sep 11, 2018 2:44pm
Play on reversal to get as much distance as possible.
After initial entry the entries were then based on multiples of ADR 50%....
Second entry was going to be at support but was preceded by very favorable price action.
Had more entries but did not want to press support line at 1.62887.
Frank


https://www.forexfactory.com/attachm...1&d=1536701313
Attached Image (click to enlarge)
Click to Enlarge Name: Image1.png Size: 23 KB
  • #6,727
  • Sep 11, 2018 2:51pm Sep 11, 2018 2:51pm
Quoting Frank0
Play on reversal to get as much distance as possible. After initial entry the entries were then based on multiples of ADR 50%.... Second entry was going to be at support but was preceded by very favorable price action. Had more entries but did not want to press support line at 1.62887. Frank {image} {image}
Well done Frank, I saw that move and would have probably taken this basic PASR trade just a few months ago, but now, I try to go with the trend, not against it. I got burnt too many times trying to call tops and bottoms.

Also, your lines make no sense to me if you follow Strat's teaching. Only H1 and H4 S/Rs are really relevant when you trade M5/M15. In this case, 1.6285 was a clear S on H1, that's all you needed IMO

Trade safe
  • #6,728
  • Sep 11, 2018 3:06pm Sep 11, 2018 3:06pm
Quoting strat
PASR {quote} getting demo acct This shows you have NOT read, learned and understood either thread.
Hi Strat
I appreciate you talking the interest to reply... but have to pull you up on this one. The thread the comment refers to, is using a demo for the purposes of worker NY close only... not for any other reason. Correct me if I missed something else
Cheers
  • #6,729
  • Sep 11, 2018 3:17pm Sep 11, 2018 3:17pm
Thanks Darko,
If I had't had that 3 bar reversal I wouldn't have taken it either.
Thanks again
Frank
  • #6,730
  • Edited Sep 12, 2018 7:09am Sep 11, 2018 3:50pm | Edited Sep 12, 2018 7:09am
Quoting Radhe2209
{quote} Hi Strat I appreciate you talking the interest to reply... but have to pull you up on this one. The thread the comment refers to, is using a demo for the purposes of worker NY close only... not for any other reason. Correct me if I missed something else Cheers
but have to pull you up on this one.

For what? Data on demo accounts is UNRELIABLE and INACCURATE and, more important, HIGHLY MANIPULATED! Use ONLY LIVE ACCOUNT data!
15 YEARS OF PASR ON FOREX FACTORY!
  • #6,731
  • Sep 11, 2018 3:59pm Sep 11, 2018 3:59pm
CLASSIC PASR SHOOTING STAR

Quoting Frank0
Play on reversal to get as much distance as possible. After initial entry the entries were then based on multiples of ADR 50%.... Second entry was going to be at support but was preceded by very favorable price action. Had more entries but did not want to press support line at 1.62887. Frank {image} {image}
Thanks for posting this, Frank.

And yet another example of CLASSIC PASR SHOOTING STAR

This time on EURAUD M15. Thanks Frank.

For the highest probability Shooting Star trades we need:

Shooting Star at resistance

Shooting Star at the top of the Swing

NOTHING to the left of the Shooting Star - just empty space.

Trading this beauty on M15 would have given PASR traders about 50 pips.


Attached Image (click to enlarge)
Click to Enlarge Name: a.PNG Size: 28 KB
15 YEARS OF PASR ON FOREX FACTORY!
  • #6,732
  • Sep 11, 2018 4:26pm Sep 11, 2018 4:26pm
Quoting Radhe2209
Can someone give me a chart location that I can use for reference, with daily close 5pm NY time. My provider can't change mine which is set too local time. Also as a first question related to what U have been learning... can I have an opinion on EUR/GPB currently. My thoughts as follows; 3 major 50pips+ movements lower in last few trading days after initial announcement move. Can't explain these xpt maybe setting up for something coming up??? Lower TF; 15M/1H/4H All in sell... below SS! Looks like Boss also coming into sell after LH and long tail....
If you must the free charting service on www.tradingview.com allows you to set the chart up for whatever time zone you want.

AB
  • #6,733
  • Sep 11, 2018 4:45pm Sep 11, 2018 4:45pm
Quoting strat
{quote} but have to pull you up on this one. For what? Data on demo accounts is UNRELIABLE and INACCURATE. Use ONLY LIVE ACCOUNT data!
My bad on that one... when I read that on the threads re unreliability of data... I thought that the close candle could be relied upon... my apologies. Thanks for hammering it home.... will sink in this time....all data from demos!!! Means I'll have to open a notional live account with a provider that has daily candle based on NY close. Rub mentioned one...I'm on the other side of the world so was asking for suggestions.
  • #6,734
  • Edited Sep 12, 2018 7:11am Sep 11, 2018 4:54pm | Edited Sep 12, 2018 7:11am
PASR

Quoting darko2010
AUDUSD and EURAUD (PS and AUDJPY) Both pairs are not ripe yet but those who follow The Path like me should be attentive to price action between now and the end of the week Trade safe
Now seems a really good time to quote extracts from my Dr. Joe conversations and faxes:

From this came his very simple method:

Buy when it goes up and sell when it goes down.

He went on to make $millions doing this and I subsequently learned he passed away a very rich and contented man knowing that he had beaten the “whores” at their own game.

“How do you know when to stop buying?”
On the same fax was his handwritten reply, “When it stops going up.”
So I wrote on it, “How do you know when it stops going up?”
His handwritten reply, “When it starts going down.”
So I wrote on it, “How do you know when it stops going up and starts going down?”
His handwritten reply, “When people start selling.”
After going round like this in riddles, I pleaded with him to “just give it to me straight”.

He sent a fax saying this would be his last communication with me and that if I didn’t understand how to buy when it goes up and sell when it goes down, I had no business trading.
His final paragraph was one which I ignored, like everything else he told me, until a couple of years ago when I realized what a dumb, stupid, arrogant, stubborn idiot I had been:

He said I would only be wrong twice using his simple method:

My understanding of what he was telling me is this:

Buy when prices are moving up. Buy each retrace/dip. Keep buying until the last retrace becomes a trend change which is the one trade you lose on.

Sell when prices are moving down. Sell each retrace/rally. Keep selling until the last retrace becomes a trend change which is the second trade you lose on.


Sometimes I wonder if old Dr. Joe was smoking something but then when I see those long legged dojis before a significant move, I know he was right.

Thank you, Dr. Joe
15 YEARS OF PASR ON FOREX FACTORY!
  • #6,735
  • Sep 11, 2018 4:57pm Sep 11, 2018 4:57pm
PASR

Quoting Radhe2209
{quote} My bad on that one... when I read that on the threads re unreliability of data... I thought that the close candle could be relied upon... my apologies. Thanks for hammering it home.... will sink in this time....all data from demos!!! Means I'll have to open a notional live account with a provider that has daily candle based on NY close. Rub mentioned one...I'm on the other side of the world so was asking for suggestions.
Rub is also ""down under"" like you.
15 YEARS OF PASR ON FOREX FACTORY!
  • #6,736
  • Sep 11, 2018 4:57pm Sep 11, 2018 4:57pm
Quoting strat
PASR {quote} Now seems a really good time to quote excerpts from my Dr. Joe conversations and faxes: From this came his very simple method: Buy when it goes up and sell when it goes down. He went on to make $millions doing this and I subsequently learned he passed away a very rich and contented man knowing that he had beaten the “whores” at their own game. “How do you know when to stop buying?” On the same fax was his handwritten reply, “When it stops going up.” So I wrote on it, “How do you know when it stops going up?” His handwritten reply, “When...
You are absolutely right Strat, just on the sidelines on AUD for now but I thought my post would encourage some observation
  • #6,737
  • Sep 11, 2018 5:01pm Sep 11, 2018 5:01pm
Thanks Strat,

There are a couple of details in your comment I really appreaciate.

Frank
  • #6,738
  • Sep 11, 2018 6:47pm Sep 11, 2018 6:47pm
Quoting abailey
{quote} If you must the free charting service on www.tradingview.com allows you to set the chart up for whatever time zone you want. AB
Thanks AB
  • #6,739
  • Sep 11, 2018 8:40pm Sep 11, 2018 8:40pm
Quoting strat
{quote} You first post in 3 months and this is ALL you have to say?
Strat, just to let you know that I am still existing. Am still reading the old thread. Just reached the 1000 page. A slow coach indeed. But I am practising what you taught me and the winning rate is getting better. Thank you.
  • #6,740
  • Sep 11, 2018 9:24pm Sep 11, 2018 9:24pm
I just back, im going to read and tomorrow going to post some of my trades with the reasons. Thank you.
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