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Strat's PASR Long Term, Stress Free Trading

  • #7,541
  • Oct 10, 2018 2:45am Oct 10, 2018 2:45am
Quoting strat
GBPCAD {quote} I was particularly interested in comments on the gap and the PRICE ACTION following that. }
The way I trade gaps is by the book. They act as support and resistance, and once price gets there, I expect a rejection,a nd I confirm it with PA. They tend to be filled, and although GC gap got filled, there was no rejection.

I took another one, however, EC, on H4, which qualified. Entry was on BEEB, although I would have liked to get the PA signal a little more to the upside, in order to have the gap filled.
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I am sorry for not having your shadow on that chart, but I am not using it for my higher time frame trading, I use only naked charts. But let me give it a try, though:

Big Boss: the immediate trend is down, and the last month candle had a decisive bearish close. This monthly candle is currently rejected by Big Boss confluence of static support and 200 ema. But it is a live candle, so a close is needed.
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Boss: making lower lows and lower highs, profit taking at 200 ema. Although a hammer, having a long bias would be countertrend trading, because the trend is still down and the direction is still ordered from the Big Boss.
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Worker: price in a downward move, broke the support, which tells me sellers still have power and intention to go lower.
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And the entry is on H4, from the beginning of my post.

I got only 40 pips on that entry, because although I know the direction of higher time frames, I did not like how H4 printed two hammers at H4 S/R area. In my experience, having two PA signals is more powerful than one and can lead to a significant move sometimes, which led me to believe that those two hammers may push price up, so an exit would be the right thing to do, in order to protect the gained profits. Besides, should price continue going down on EC, I can enter again.

I think I can hear your voice now, Strat, saying: 'You should have put your SL above those two hammers if you wanted to protect profits, Romanian playboy, not exit where you did. And where is your support and resistance on your Strat Shadow charts?'
  • #7,542
  • Oct 10, 2018 4:03am Oct 10, 2018 4:03am
Quoting catalin_eros
{quote} Hi again, Strat! Thanks for taking time to answer and clear my confusion! Your reply definitely helped, and i am most certain not only me, but others as well. The link to that document is here. And you mention many times terms like 'break', 'exceed', 'take out', which led me to believe you look at the live candle to break the previous one's low/high to confirm the swing (as long as it is the lowest/highest...
Hi cat
I think those swings are clear on the daily chart. the one posted was showing the same thing but on the weekly chart, and it is not so clear to see
  • #7,543
  • Oct 10, 2018 4:05am Oct 10, 2018 4:05am
Quoting catalin_eros
{quote} The way I trade gaps is by the book. They act as support and resistance, and once price gets there, I expect a rejection,a nd I confirm it with PA. They tend to be filled, and although GC gap got filled, there was no rejection. I took another one, however, EC, on H4, which qualified. Entry was on BEEB, although I would have liked to get the PA signal a little more to the upside, in order to have the gap filled. {image} I am sorry for not having your shadow on that chart, but I am not using it for my higher time frame trading, I use only...
notice how small your counter-trend trades are compared to the ones riding the trend
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  • #7,544
  • Edited 9:59am Oct 10, 2018 5:27am | Edited 9:59am
Quoting strat
GBPJPY M5 {quote} Only some retrospective analysis This is called studying PASR on charts Rule No1 though and you can find why we need to wait. Not even a paper trade on this chart for me Very good DISCIPLINE! I'll get this in before Yomi beats me to it: There is NO TREND and we don't trade Basic PASR on M5 Had I seen this when I opened my chart, I would quickly CLOSE and find another pair - NO TREND - NO TRADE! {image}
Missing a trade or two might improve our trading DISCIPLINE and make us a better trader in the long run.

Very well, Strat.....one of my trading rules says.....No Trend, No Trade.

Trend is the basis of all profits.

Thank you for your guidance here.



Happy Trading,
Yomi.
Time always comes before price
  • #7,545
  • Oct 10, 2018 5:33am Oct 10, 2018 5:33am
Quoting strat
PASR {quote} I wonder if anyone will get anything from it. Thanks Ben. I posted the summary because I didn't think people would take the time/trouble to read Dan's complete post. Let's ask the question: Did anyone get anything from Dan's post?

Did anyone get anything from Dan's post?

Most definitely yes. Dan is one of the successful students that ended up profitable. That's why we all are here for, aren't we? And we are here because of you and what you share with us. It's sad that Dan and others have left the thread after their successful journey on The Path, but Dan described his journey pretty much how we all are going on the Path.

At around this time I had also begun reading some posts by a crazy fella (Strat)who traded the Daily and Weekly charts and who was encouraged by Nicola (Elitejets) to start his own thread on his method so, on 27 February 2009, I suppose I actually began to understand.

Slowly but surely I began to appreciate more and more what I was looking at (It’s funny to think I actually found it quite daunting to post my first chart). Strat took the time to help me see for myself, there were no easy rides and we fell out once or twice, but to his eternal credit, he stuck with me

That's how I started my journey as well, just 8-9 years later. However, what really struck me was the other post from Dan: 95% of people in life fail, just look around

I also still think about that 95% failure rate in trading and sometimes wonder if I can make it even with guidance. But those ratios and percentages should not discourage us because most of those 95% never really tried hard. Most people don't work jobs that they love, most people do not do things that they love everyday. But I wonder how many of those tried to create something better than average.

I'd say we are very lucky and should be insanely grateful to have Strat as our mentor. He has created many successful traders who can do what they love and most importantly, TRADE to LIVE.

Thank you again for all the guidance and patience.
  • #7,546
  • Oct 10, 2018 7:20am Oct 10, 2018 7:20am
Quoting catalin_eros
{quote} Hi, Huatzhi! Thanks for your comment! Yes, that is correct, the candle can go higher than the previous one, spot on! I actually wanted to state this when I was describing my candles, especially the long legged doji and the dragon fly doji, I wanted to say that it should not exceed the previous candle's high, but then I left it like that. It is great that you mentioned it!
Although Strat did correct us that it have to be ""take out"" by ""close"" of the price to confirm.

Regarding to "why Strat no reply" question, some just no point to reply, while others... Just go through this thread and see who and when Strat reply to and what not. That probably go give you a few clues, and things to reevaluate our path.


Be "the" tortoise.
  • #7,547
  • Oct 10, 2018 7:27am Oct 10, 2018 7:27am
Quoting Malu
{quote} Strat , as you mentioned that here. When I read the old thread I exactly ask me the question what happened to all of the people of the old thread? I assume that they did not quit trading. But did they just disappear or are you still in contact (not on this thread, of course) with them? I am just asking out of curiosity.
Addon to what Suran had said, your answer is in last couple pages of old thread.
  • #7,548
  • Oct 10, 2018 7:53am Oct 10, 2018 7:53am
Quoting strat
PASR {quote} I wonder if anyone will get anything from it. Thanks Ben. I posted the summary because I didn't think people would take the time/trouble to read Dan's complete post. Let's ask the question: Did anyone get anything from Dan's post?
**correctly establish a directional bias and trade it is only part of the challenge we all face

PRICE can be read perfectly well End Of Day

kept a detailed log

read ""MY"" charts each day

PRICE reacts to news. The reaction is not often indicative of the bigger (global) picture. The further away you stand, the more you can see.
  • #7,549
  • Oct 10, 2018 8:04am Oct 10, 2018 8:04am
I wonder if people will start to get tired and sell their coins

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  • #7,550
  • Oct 10, 2018 8:08am Oct 10, 2018 8:08am
Quoting bistolis
I wonder if people will start to get tired and sell their coins {image}
Once the consolidation resolved, it will be a big move toward either direction I assume.
  • #7,551
  • Oct 10, 2018 9:40am Oct 10, 2018 9:40am
Quoting strat
PASR {quote} I wonder if anyone will get anything from it. Thanks Ben. I posted the summary because I didn't think people would take the time/trouble to read Dan's complete post. Let's ask the question: Did anyone get anything from Dan's post?
Hi Strat

Here is what I got out of Dan's post:

Dan succeeded because of the way and what he was taught on the path. He could only evolve and grow his personal his trading method because of the solid PASR foundation laid on this thread by Strat.

 

  1. Time means nothing - only price. Price can be read perfectly EOD so why spend all day watching it go up and down?
  2. Price reacts to to news which is not always indicative of the bigger picture. The further away you stand the more you can see.
  3. And lastly, Dan was more profitable by standing back and taking in the broader view.

This reminds me of something I read in a book a long time ago in which the author likened trading short term time frames to standing next to the highway watching the traffic speed by through a pair of binoculars. You can't see clearly because of tunnel vision and the cars moving so fast that you move closer and closer to see better until BANG, you get run over. Just another statistic. By standing back and watching the traffic flow past from a nearby hill (Trading the daily charts) you can view the big picture and the cars are moving a lot slower because of the distance which gives you a lot of time to make your trading decisions.

I think this is very true for inexperienced traders like me to rather stand back and trade the longer term charts. Also as Strat has pointed out in many posts, find the time frame to trade that you are comfortable in.

Dan found out through personal experience that for him longer term time frames are more profitable and less time consuming. I can relate to that. I don't need to flit around different time frames looking to find trades. Find a comfortable time frame and focus on that time frame. The trades will come to me if I open my eyes and patiently watch.

Then comes the point that Rub picked up on and highlighted for us - Trading is dirt simple, establish a directional bias and trade it... thank you Rub for reminding us! :-)
The other thing that is sticking to my mind is in the next sentences in Dan's post:

It is only a two horse race. (I interpret this to be that you are either profitable with your trade or not - you either win or lose) Then he says, Strat is helping you identify that directional bias... (Strat is helping us pick the winners) I take this to mean that by following the teachings on this path we will probably be right more often than not and with proper money management rules the chances are good that we will be profitable traders.

Strat's follow up post (6371) which includes the following simplified Dr Joe summary certainly hits home to me personally:

KEEP ON BUYING UNTIL IT STOPS GOING UP
WE KNOW WHEN IT STOPS GOING UP BECAUSE IT STARTS GOING DOWN
WE KNOW WHEN IT STARTS GOING DOWN BECAUSE PRICE IS BEING SOLD (SUPPLY)
KEEP ON SELLING UNTIL IT STOPS GOING DOWN
WE KNOW WHEN IT STOPS GOING DOWN BECAUSE IT STARTS GOING UP
WE KNOW WHEN IT STARTS GOING UP BECAUSE PRICE IS BEING BOUGHT (DEMAND)

Regards
Pete

  • #7,552
  • Oct 10, 2018 10:00am Oct 10, 2018 10:00am
Hi Strat ( and all),


Just took a trade today. And closed out the trade before it went to profit because I CHICKENED OUT... Here it is.

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and other charts for today as I see it.

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Suranga
Focus, Patience, Discipline, Determination and Perseverance
  • #7,553
  • Oct 10, 2018 10:13am Oct 10, 2018 10:13am
PASR

Quoting Suran
Hi all , I will second what Eurotrader (for the most part) says about AstonDan's post, {quote} This was also my view about the market's 95% failure rate. In my country many thousand people start their higher studies in Mathematics stream, And within that only a handful of people went on to become Engineers or Scientists. And that is much less than 5% of the total...So trading seams better... huh The problem is that new people got used to believe this is easy money. its easy to click a button and see the trade goes on to profit. Almost all of them...
You are very wise and smart, Suranga, for not following The Crowd and falling for the "Get Rich Quick" marketing hype.
15 YEARS OF PASR ON FOREX FACTORY!
  • #7,554
  • Oct 10, 2018 10:19am Oct 10, 2018 10:19am
Confirmed Swings

Quoting catalin_eros
{quote} Hi again, Strat! Thanks for taking time to answer and clear my confusion! Your reply definitely helped, and i am most certain not only me, but others as well. The link to that document is here. And you mention many times terms like 'break', 'exceed', 'take out', which led me to believe you look at the live candle to break the previous one's low/high to confirm the swing (as long as it is the lowest/highest...
And you mention many times terms like 'break', 'exceed', 'take out', which led me to believe you look at the live candle to break the previous one's low/high to confirm the swing (as long as it is the lowest/highest candle)

That is just my slang/imperfect way of writing/talking. All these are meant with the CLOSE qualifying each move.

Which makes me wonder why you have not commented on my post

My time and energies are focused on serious students on THE PATH

For the record, it is not about who is right and who is wrong

Correct, it is all about making money (pips)
15 YEARS OF PASR ON FOREX FACTORY!
  • #7,555
  • Oct 10, 2018 10:56am Oct 10, 2018 10:56am
Quoting Suran
Hi Strat ( and all), Just took a trade today. And closed out the trade before it went to profit because I CHICKENED OUT... Here it is. {image} and other charts for today as I see it. {image} {image} Suranga
I was looking at this pair all day on and off. and I didnt quite like how it moved sideways there for a while so I wasnt very confident to note down a paper trade
  • #7,556
  • Oct 10, 2018 11:05am Oct 10, 2018 11:05am
Quoting bistolis
{quote} I was looking at this pair all day on and off. and I didnt quite like how it moved sideways there for a while so I wasnt very confident to note down a paper trade
Yes, today is RED News for GBP pairs. Anyhow after the red news I thought charts were ok to trade. So I marked the S/R levels and watched what happens.

What I learned from my past experience in M5 trading is... It's all about choosing the best chart to trade. That is finding the best pair which is trending (and Strat Shadow help us a lot with this). And believe in Strat Shadow and watch what PRICE do near S/R levels.


Suranga
Focus, Patience, Discipline, Determination and Perseverance
  • #7,557
  • Oct 10, 2018 11:09am Oct 10, 2018 11:09am
PASR

Quoting Malu
{quote} Strat , as you mentioned that here. When I read the old thread I exactly ask me the question what happened to all of the people of the old thread? I assume that they did not quit trading. But did they just disappear or are you still in contact (not on this thread, of course) with them? I am just asking out of curiosity.
I assume that they did not quit trading. But did they just disappear or are you still in contact (not on this thread, of course) with them?

They just ""disappeared". When they stopped posting, I contacted each privately to find out the reason for their ""disappearance"". The only one who stayed in contact with me for a short while was Roger (No1Optimist) who needed my advice to fine tune my ""Meat of the Trend"" trend trading strategy. Once he got all he wanted, just like the others - ""Wham, Bang, Thank you, Ma'am!"" - not even ""ariverderci"", hasta la vista, a bientot, see you later - not even ""Goodbye and Thank You"".

Roger was among a few traders from Oz, "JohnDev" and a lady originally from New Zealand but living in Oz. "JohnDev" just left "cold turkey" and never returned any of my communications. This made wonder why I was doing this. I almost quit and then "Karma" and "direction from a higher place" kicked in as I felt bad leaving those struggling with trading.

My Private Website was set up, not to make money as the Trolls thought, (the money I got after paying Admin, Server, website and other overhead costs I could make on a 10 day Worker trend), but to exclude hobby traders, lurkers and idiots by having them pay a monthly fee. Surprisingly, this did not work out as people with more money than sense, still subscribed. There was one idiot who used to post when he was "drunk out of his mind" and used profanities which would have embarrassed Ozzie Osbourne!. He was threatened with revoking his membership but still he continued so he was banned. In the end, I just felt I was not ""helping traders"" so I closed it with the intention of ending my public PASR trading.

After a short absence, "Karma" and "direction from a higher place" kicked in again with the need to "help traders less fortunate than myself" so I negotiated with Forex Factory initially to return my "old" original ""Strat's Long Term Stress Free Trading"" to "Trading Systems" but that was not possible so we agreed for me to start again with this new thread "Strat's PASR Long Term, Stress Free Trading". Thanks again to Twee for working with me on this.

Then it happened again! I spend extra time and energies with those on the thread who I identify as having potential to succeed and become ""consistently profitable"". One of these was ""saad007"". You can see this from my posts on here, (plus private FREE instruction). Then, after posting many profitable trades, he was GONE! Again, ALL my communications to him were ignored. As recently as a month ago, I tried contacting him but still the ""SILENCE"".

I understand people have other, more important priorities in life than communicating with me or this thread but, being disrespectful and impolite, makes my blood boil! Worse than that I feel ""betrayed"" much like I would if my Big Boss of 54 years left me.

So, we continue with ""Round Four""
15 YEARS OF PASR ON FOREX FACTORY!
  • #7,558
  • Edited 5:13pm Oct 10, 2018 11:19am | Edited 5:13pm
GBPJPY

Quoting Rub
Trying to see beyond the candles on GBP/JPY in the last couple of weeks. {image}
Good lad, Ben. Everyone on THE PATH needs to do this to progress forward.

Next, train your trading brain to SEE it on the Boss and then finally, the Big Boss. When you SEE it on the Big Boss, no further analysis is needed.

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15 YEARS OF PASR ON FOREX FACTORY!
  • #7,559
  • Oct 10, 2018 11:22am Oct 10, 2018 11:22am
GBPJPY

Quoting Suran
{quote} Hi Rub, It seams PRICE sort of struggling to break 149.65 level and is also Supported by BOSS Strat shadow, Worker 200 and S/R levels below. So that seams to be the reason its going side ways. {image} {image} Just my understanding.. Suranga
Thank you for your feedback, Suranga - TRADERS HELPING TRADERS

Yours and Rub's comments are identifying that the Big Boys do not have much interest in this pair ""at this moment in time""
15 YEARS OF PASR ON FOREX FACTORY!
  • #7,560
  • Oct 10, 2018 11:26am Oct 10, 2018 11:26am
EURCAD M15 PASR Trend Trading:




Happy Trading,
Yomi.
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Time always comes before price
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