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  • #7,041
  • Sep 22, 2018 10:46am Sep 22, 2018 10:46am
Quoting TerryDawe
{quote} The Boss primary trend is up and recent WCC has been broken to the upside. This trade on the H1 would have been protected had you placed your stop at the red line which is top of recent Boss shooting star. When trading low time frames, consideration should be given to using at least the next higher time frame for stop placement. {image}
Thanks for replying, Terry!
As I replied to BTS, I made a newbie mistake as I only looked at H1 for getting a better StopLoss (H1 last swing low) and not doing so with the entry so the result speaks for itself.
IF IT DOESN'T FEEL RIGHT - IT'S NOT RIGHT!
  • #7,042
  • Sep 22, 2018 11:06am Sep 22, 2018 11:06am
Quoting strat
M5 PASR Trend Trading {quote} I had been using a real account for my first year trying to trade M5, and losing 15% of the account more or less in 2 months( around 125-130 euros of loss) Then you are a FOOL! You have ALL the resources here, on this thread, to HELP you. How can we help you if you don't tell us? You are a good example to ALL the other PASR Lurkers who suffer in silence, not posting. Had you posted these LOSING trades we could have helped show you what you were doing wrong to save you LOSING 15% of your real, hard earned money. {image}...
Thanks for taking the time to reply everyone
Yes I was a fool. and unfortunately my first year of trading closed with that loss just some months before this thread opened. Since then I spent my time absorbing lessons in here. Now I am starting my third year on this journey

To answer one other question: I havent been participating because of other things in my life, and when things are not going well I avoid trading. I spent my time instead reading, studying (this thread and non-trading related material) and watching the markets
  • #7,043
  • Sep 22, 2018 11:30am Sep 22, 2018 11:30am
Quoting bistolis
{quote}........ when things are not going well I avoid trading........
Not being 100% psychologically fit enough to trade

Bistolis,

This is something I also giving much thought lately. This is a psychological barrier that we need to find a solution to. Is this some thing related to confidence? Will this fade away with the confidence? I dont know. but the time will tell.

I believe the statement of not being 100% psychologically will affect our decision making ability. But as human beings I don't think we could be 100% all the time. There should be a way to clear up our mind within a reasonable amount of time so that we could get back to trading.

So my question is ..Is there any trick or solution anybody know of? If anybody have any suggestions then it will help us greatly


Suranga
Focus, Patience, Discipline, Determination and Perseverance
  • #7,044
  • Sep 22, 2018 12:00pm Sep 22, 2018 12:00pm
Sorry for late reply.
I was in vacation last week and was away from market, just get back and read the missing posts.
Both trade hit my take profit for 85pips and 105pips respectively.

Quoting BeyondTheSea
{quote} AUDNZD - Good entry but you are clearly in a wobble zone GBPNZD
May you talk more on the wobble zone?
Can I say it is a swing area and I am enter at the swing high?

Quoting BeyondTheSea
{quote}GBPNZD - Well done for not jumping onto the end of that trend. At the top of these big GBP moves they often seem to sit where your entry is before going for the same previous high and then correcting sharply. Your RR vs probability could be marginal though GBP is a bit tricky to trade long term at the moment but I wish I had time to trade it on lower timeframes, some great opportunities.
Quoting Rub
{quote} Looking at your chart, is the weekly if your big boss you're on the right track. Doesn't look like it closed above that resistance though, so I think your best bet is to look for price to go past then retest. {quote} Beyondthesea covered this pretty much as I see it, but why such a big stop loss on GBP/NZD? Why not below the giant hammer looking beast 5 candles left of your entry?
Quoting strat
AUDNZD & GBPNZD {quote} Please heed the valuable comments given by BTS and Rub. Repeating Rub's comment: but why such a big stop loss on GBP/NZD? Why not below the giant hammer looking beast 5 candles left of your entry? Correct placement of your Stop Loss improves your R:R {image}
I usually placed my stop loss at the previous support/resistance,
and as I saw there is a Risk:reward = 1:1, I entered the trade.
I will trade to update my mind to place stop loss at previous candles high/low, to improve the R:R.
My next target is entering trade only with 1:2.

Regards,
Brian
  • #7,045
  • Sep 22, 2018 12:23pm Sep 22, 2018 12:23pm
Quoting Suran
{quote} About Ali.J Before that last post by him, He wanted me to have a chat in PVT with him.take some advice. Hell.. I am no expert to give him advice..I am just damn newbie ha ha. But still he wanted some advice so I thought why not..if it helps him. So it nearly took Two hours of my time to have a one on one chat.it was early in the morning for me .Time that I could use for my daily analysis. He had some doubts that he wanted to clear. so I answered as per my knowledge. And all I wanted to tell him was to stick to one strategy. and master it....
Thank you for helping your fellow trader - TRADERS HELPING TRADERS

Unfortunately this guy does not have the mentality for trading and is one of those who will never make it at trading and should seek some other way of generating income.

And all I wanted to tell him was to stick to one strategy and master it. But he didn't

And he never will. He is looking for something magical which doesn't, and never will exist, without requiring input on his behalf and so he goes on to every thread he can find

Now I regret that I wasted my time for him

You and I, we did our best to help so never regret helping anyone. The important thing is to recognise when you are ""flogging a dead horse"" which is the case here.

What I understood was he wanted short cuts

Not just on here but on every thread he has been on.

He clearly needs to change his attitude.

Yes but he never will. You can't take the spots off a leopard!
15 YEARS OF PASR ON FOREX FACTORY!
  • #7,046
  • Sep 22, 2018 12:58pm Sep 22, 2018 12:58pm
EURUSD

Quoting Eurotrader17
EURUSD {quote} Hi all, Strat, thanks for this wonderful post. I got stopped out on EURUSD as I set my StopLoss based on H1 due to low RR on Daily The reasons I noted in my journal were: PROS: Big Bullish bar rejecting 72EMA&20EMA on Daily/Weekly(temporary) Close above EMA200 on Daily Close above long zone of confluence (yellow rectangle) Hammer-ish on Monthly bar + ongoing BUEB CONS: StopLoss at H1 (risky) Weekly hasn't closed yet Daily (Worker) {image} H1 where I set my SL {image} Weekly (Boss) {image} Was I too optimistic (inpatient) about setting...
You have got valuable comments from BTS and Terry so take note of them.

Thank you BTS and Terry for helping your fellow trader - TRADERS HELPING TRADERS

I got stopped out on EURUSD as I set my StopLoss based on H1 due to low RR on Daily

Which time frame was you trading?

Big Bullish bar rejecting 72EMA&20EMA on Daily/Weekly(temporary)

First, PASR does NOT trade moving averages
Second, those BEEBS were NOT ""rejected""! I have pulled you up on this before and STILL you don't UNDERSTAND so get this right once and for all.

This PRICE ACTION in the blue rectangle is described as PRICE CLOSING above, and, being supported by the Strat Shadow. There is NO Big Bullish bar rejecting 72EMA&20EMA on Daily/Weekly(temporary)

Attached Image


These are examples of ""REJECTION"". Make sure you UNDERSTAND them.

The blue rectangles show PRICE being REJECTED from support
The red rectangles show PRICE being REJECTED from resistance.

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Close above long zone of confluence (yellow rectangle)

""Confluence""? Get back on THE PATH and UNDERSTAND what confluence is.

What is in your yellow rectangle is CONSOLIDATION and ranging PRICE!

Hammer-ish on Monthly bar + ongoing BUEB

Hammer-ish???

Go back and read, learn and UNDERSTAND my recent posts on Hammers and Shooting Stars.

Was I too optimistic (inpatient) about setting the Stop Loss based on H1?

No idea until you tell me what time frame you are trading as I have no clue - DO YOU?

Strat, based on the Monthly chart you showed, wouldn't you consider 1.16ish as support?

You should KNOW this! Are you sure you are on THE PATH?

The AREA of support and resistance is shown by my dashed lines

Attached Image (click to enlarge)
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What you have posted here shows me you are a ""HOBBY"" trader. Since I have no time to waste on ""Hobby Traders"", I will leave your further posts to be answered by the SERIOUS students on here until you can demonstrate you are SERIOUS about learning PASR
15 YEARS OF PASR ON FOREX FACTORY!
  • #7,047
  • Sep 22, 2018 1:18pm Sep 22, 2018 1:18pm
GBPJPY

Quoting LarryK
Been visiting here a few times recently some may have noticed, and taking a bit of interest in trading again to keep myself busy without losing too much in the process. Anyway i am sure all the old timers here will not have missed this BEEB on the daily chart of GBPJPY from friday, compliments from Ms May, although the GBP has been doing well lately this price action has also produced a bit of a shooting star on the boss, while madame the big boss still like long, she might change her mind, so worth watching the follow up next week.{image} Not sure...
Keep on posting Larry. Doing this will keep all those "old timers'" diseases away!

GBP pairs are difficult at this time and, because of the sensitivity and reaction to just about any Brexit comments from the UK and Europe, are really not freely traded so technical and chart analysis becomes difficult and unreliable on a long term basis.

The knee jerk sell off on GBPJPY was only a 23.6% fibonacci retrace which ""usually""indicates the up trend is still intact. However, unless the buyers come back, PRICE could well fall to the Strat Shadow which is in confluence with the 50% fib. GBPUSD is very similar.

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15 YEARS OF PASR ON FOREX FACTORY!
  • #7,048
  • Sep 22, 2018 1:34pm Sep 22, 2018 1:34pm
Trading Psychology

Quoting Suran
{quote} Not being 100% psychologically fit enough to trade Bistolis, This is something I also giving much thought lately. This is a psychological barrier that we need to find a solution to. Is this some thing related to confidence? Will this fade away with the confidence? I dont know. but the time will tell. I believe the statement of not being 100% psychologically will affect our decision making ability. But as human beings I don't think we could be 100% all the time. There should be a way to clear up our mind within a reasonable amount of time...
Good points bistolis and suranga.

We need to be 100% mentally fit to trade profitably.

In the years gone by, many times I didn't feel like trading but forced myself to do it - BIG MISTAKE. These days, if I get up from bed and don't feel capable at performing trading at my ""optimum"" level, I just walk away and do anything but trading.

Most of the problems traders have on short time frames, M1 and M5 especially, are brought on themselves by routinely trading "their hours" religously every day come rain or shine. They blame everything else for their losses instead of themselves when, many of the times, they are not ""mentally fit"" to trade.

Is there any trick or solution anybody know of?

No, just learn to "know" and "understand" YOUR mind and body. Never, ever FORCE yourself to trade.
15 YEARS OF PASR ON FOREX FACTORY!
  • #7,049
  • Sep 22, 2018 1:42pm Sep 22, 2018 1:42pm
Quoting brian661
Sorry for late reply. I was in vacation last week and was away from market, just get back and read the missing posts. Both trade hit my take profit for 85pips and 105pips respectively. {quote} May you talk more on the wobble zone? Can I say it is a swing area and I am enter at the swing high? {quote} {quote} {quote} I usually placed my stop loss at the previous support/resistance, and as I saw there is a Risk:reward = 1:1, I entered the trade. I will trade to update my mind to place stop loss at previous candles high/low, to improve the R:R. My...
I will trade to update my mind to place stop loss at previous candles high/low

PASR Stop Losses ALWAYS go above/below swing highs/lows and /or support and resistance.

to place stop loss at previous candles high/low, to improve the R:R.

NO! That is RANK AMATEUR trading. PASR traders NEVER adjust a Stop Loss to improve the R:R.
15 YEARS OF PASR ON FOREX FACTORY!
  • #7,050
  • Sep 22, 2018 9:41pm Sep 22, 2018 9:41pm

Some random thoughts this weekend.


Attached Image



“A man should learn to detect and watch that gleam of light which flashes across his mind from within, more than the lustre of the firmament of bards and sages. Yet he dismisses without notice his thought, because it is his. In every work of genius we recognize our own rejected thoughts: they come back to us with a certain alienated majesty.”


Ralph Waldo Emerson, Self Reliance



Mastery in trading is something many strive for but few seem to attain.


What is required to attain this mastery?


How long does it take?


What are the secrets to mastering anything?


We all to often extinguish that “gleam of light” Emerson spoke of, when actually that “gleam of light” may be the true direction we need to go with our thoughts. Undistracted focused thought is required for that gleam of light to flourish. Yet we live in a world of distractions. Can you sit down without looking at your phone? Can you have a meaningful conversation with someone for more that 15 minutes listening to every word they say, not just waiting for your chance to jump in with your thought?


Price is the most important thing on our charts. The 20, 72, and 200 moving averages and the Strat Shadow are reference points to better understand price.


When Michelangelo sculpted “David” he had reference points. Leonardo Da Vinci had reference points for the Mona Lisa. I have reference points for building a curved staircase. If something distracts you from price or your reference points, your focused thought and the steps to mastery are harmed.


Michelangelo and Leonardo Da Vinci could have written a book about sculpting. If I read the book I still would not be able to duplicate their works. The knowledge may be there but its practical application is not. Practical application of knowledge gives us wisdom. When wisdom and knowledge converge we get understanding. We are then approaching mastery.


Mastery is accomplished as an individual. No one can make someone else proficient in trading. There are no magic tricks, yet that is what many seek in looking for the holy grail indicator to accomplish all their dreams of wealth. The second trading turns to “magic” lines or indicators and focus is drawn away from price and the reference points, focus is lost and that “Gleam of light” is extinguished.


So Strat can impart his knowledge. We then interpret this knowledge. Then as it is applied to the markets we get wisdom. Then gradually, bit by bit, we see the story behind the candles giving us understanding. Mastery is culmination of all.


The most powerful and adaptable computer in the world is between your shoulders and on top of your neck. Use it to its capacity.

Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #7,051
  • Sep 22, 2018 9:55pm Sep 22, 2018 9:55pm
Quoting SlapShot
{quote} For me the similar signal in GBPUSD looks even better. I see a downtrend in boss and big boss, a good shooting star on the boss and a BEEB on the worker. What do you think how coul we trade this?
See the charts, but as strat said above, GBP is very volatile at the moment with brexit going on.

Quoting Suran
{quote} Not being 100% psychologically fit enough to trade Bistolis, This is something I also giving much thought lately. This is a psychological barrier that we need to find a solution to. Is this some thing related to confidence? Will this fade away with the confidence? I dont know. but the time will tell. I believe the statement of not being 100% psychologically will affect our decision making ability. But as human beings I don't think we could be 100% all the time. There should be a way to clear up our mind within a reasonable amount of time so that we could get back to trading. So my question is ..Is there any trick or solution anybody know of? If anybody have any suggestions then it will help us greatly Suranga
I posted something near the end of August about my not being fit to trade and doing it anyway. DON'T DO IT!
August was by far my worst month, I made pretty much every mistake you can make, after trading profitably for six months, and had a 30% draw down. Hopefully I learned my lesson!
Attached Image(s) (click to enlarge)
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  • #7,052
  • Sep 23, 2018 12:08am Sep 23, 2018 12:08am
Quoting strat
Trading Psychology......, just learn to "know" and "understand" YOUR mind and body. Never, ever FORCE yourself to trade.
Hi Strat and Other fellow traders,


Thank you very much for your helpful words and guidance.



Suranga
Focus, Patience, Discipline, Determination and Perseverance
  • #7,053
  • Sep 23, 2018 3:11am Sep 23, 2018 3:11am
USDJPY

BB and B still long but is that a SS on Friday on the W near to R at 113 trying to say something else? Will need confirmation Monday to make a decision to trade, worth watching.
Attached Image (click to enlarge)
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  • #7,054
  • Sep 23, 2018 3:22am Sep 23, 2018 3:22am
USDCHF

BB and B still very short but again W has something else to show us, is that not a decent H which shot through a popular R and came back to close there? Definitely worth watching on Monday for confirmation or not.
Attached Image (click to enlarge)
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  • #7,055
  • Sep 23, 2018 3:26am Sep 23, 2018 3:26am
Quoting LarryK
USDJPY BB and B still long but is that a SS on Friday on the W near to R at 113 trying to say something else? Will need confirmation Monday to make a decision to trade, worth watching.{image}
Hi

there is a weekly control candle now on your chart for USDJPY ( I didnt notice it was a daily chart)
and I would suggest to not even look at swiss franc

you might get something like this to chew on
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  • #7,056
  • Edited 5:38am Sep 23, 2018 4:04am | Edited 5:38am
Quoting Eurotrader17
EURUSD
Quoting strat
EURUSD
In addition,
if I may

I see this resistance zone on daily. It is GMT+1 daily candle close chart but it is still there on NY close chart.
Attached Image (click to enlarge)
Click to Enlarge Name: Image1.png Size: 28 KB
  • #7,057
  • Sep 23, 2018 4:51am Sep 23, 2018 4:51am
Quoting strat
EURUSD {quote} You have got valuable comments from BTS and Terry so take note of them. Thank you BTS and Terry for helping your fellow trader - TRADERS HELPING TRADERS I got stopped out on EURUSD as I set my StopLoss based on H1 due to low RR on Daily Which time frame was you trading? Big Bullish bar rejecting 72EMA&20EMA on Daily/Weekly(temporary) First, PASR does NOT trade moving averages Second, those BEEBS were NOT ""rejected""! I have pulled you up on this before and STILL you don't UNDERSTAND so get this right once and for all. This PRICE...
First of all, Strat, thanks for your time!

What is in your yellow rectangle is CONSOLIDATION and ranging PRICE
My bad, that's what I meant, that price was ranging within that yellow rectangle and it could close above.

You should KNOW this! Are you sure you are on THE PATH?
The AREA of support and resistance is shown by my dashed lines
I asked you this because in the charts you posted on #6990 I didn't see 1.16ish as support and I doubted whether I did well setting this support or not.
You already answered this.

I made some newbie mistakes as I already confessed.
Due to work, I only trade Daily.

I took this trade because:
1)BigBoss: I saw a hammer last month
2)Boss: Even though, Boss' last weeks were rejecting higher prices it seemed it started listening to her Boss (BigBoss)
3)Worker: Even though, there wasn't PA (Engulfing/Outside Bars or hammer/ShootingStar) I saw a "big" bullish candle which was able to close above a zone of congestion (yellow rectangle), above EMA200 and also above StratShadow.
The problem came when placing my stop-loss. As you have already mentioned many times, it's always safer to place it below or above the last swing (depending if you go long or short).
Keeping in mind, that my next resistance is in 1.19ish I couldn't find a good RR if I hadn't gone to a shorter timeFrame.
Why did I do this? Because I read several posts from you that I misunderstood (e.g #1893) where you recommend going to a shorter time frame if we can't get a good RR in Worker once we have seen PA (in the Worker)

What you have posted here shows me you are a ""HOBBY"" trader. Since I have no time to waste on ""Hobby Traders"", I will leave your further posts to be answered by the SERIOUS students on here until you can demonstrate you are SERIOUS about learning PASR

It's totally understandable, everyone makes mistakes and I think we are here to learn and help each other. Since I've made newbie mistakes I'll rely on the answers of my fellow traders till I can show you I'm determined to succeed on PASR and also I'll do my bit to help

Have a nice Sunday!
IF IT DOESN'T FEEL RIGHT - IT'S NOT RIGHT!
  • #7,058
  • Sep 23, 2018 4:55am Sep 23, 2018 4:55am
Quoting LarryK
USDCHF BB and B still very short but again W has something else to show us, is that not a decent H which shot through a popular R and came back to close there? Definitely worth watching on Monday for confirmation or not.{image}
Morning from Spain Larry,

We don't trade USDCHF since it's highly manipulated.

Have a look to Strat's post on September 6th
Quoting strat
USDCHF {quote} Remember, PASR DOES NOT TRADE CHF pairs! Since this is ""only"" an example for PASR: The last Big Boss Swing was ONLY 900 pips which is fly shit in a pepper pot in the big scheme of things and another reason NOT to trade this pair! Compare this to GBPAUD and GBPCAD whose Big Boss Swings are 10 times greater. Your analysis is good however your Trade Management is what fits YOUR style, personality and RISK tolerance and will be different to other traders. I do not like time frames not standard to MT4 as it means using Offline Charts...
IF IT DOESN'T FEEL RIGHT - IT'S NOT RIGHT!
  • #7,059
  • Sep 23, 2018 6:21am Sep 23, 2018 6:21am
Quoting strat
{quote} I will trade to update my mind to place stop loss at previous candles high/low PASR Stop Losses ALWAYS go above/below swing highs/lows and /or support and resistance. to place stop loss at previous candles high/low, to improve the R:R. NO! That is RANK AMATEUR trading. PASR traders NEVER adjust a Stop Loss to improve the R:R.
I got it, I should say "only enter the trade when the R:R is good", instead of saying adjusting the stop loss
  • #7,060
  • Sep 23, 2018 8:41am Sep 23, 2018 8:41am
Quoting Rufus
Some random thoughts this weekend. {image} “A man should learn to detect and watch that gleam of light which flashes across his mind from within, more than the lustre of the firmament of bards and sages. Yet he dismisses without notice his thought, because it is his. In every work of genius we recognize our own rejected thoughts: they come back to us with a certain alienated majesty.” Ralph Waldo Emerson, Self Reliance Mastery in trading is something many strive for but few seem to attain. What is required to attain this mastery? How long does it...
Thanks for this Rufus, very powerful........
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