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Strat's PASR Long Term, Stress Free Trading

  • #7,761
  • Oct 16, 2018 2:03pm Oct 16, 2018 2:03pm
Well, now I am practicing my trade selection. CAD/JPY is showing the Price Action that I looked for, but now measuring the R:R for this Basic PASR trade I see that in order to only get 2:1 R:R, my TP would need to go beyond the S/R level. The probability of that happening is much lower than sticking to S/R level. That is why I will not take this trade and not risk my hard earned money on low probability and low-reward trade.
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  • #7,762
  • Oct 16, 2018 2:57pm Oct 16, 2018 2:57pm
Quoting Svolacius
Well, now I am practicing my trade selection. CAD/JPY is showing the Price Action that I looked for, but now measuring the R:R for this Basic PASR trade I see that in order to only get 2:1 R:R, my TP would need to go beyond the S/R level. The probability of that happening is much lower than sticking to S/R level. That is why I will not take this trade and not risk my hard earned money on low probability and low-reward trade. {image}
Currently at Worker resistance and still deciding about the Boss swing, looking from the other side... smaller TF/5RR?
I can't really get into these JPY pairs apart from GBPJPY it's like watching snails racing in the rain...
Private Msgs are turned off to weirdos, loafs and brain drainers
  • #7,763
  • Oct 16, 2018 5:04pm Oct 16, 2018 5:04pm
Quoting strat
AUDCAD Worker Trend PASR {quote} Buenos días! First, thank you for starting your post with the subject as a title. This helps those doing a "Search" on a particular topic. Thank you HappyTrend, Rub and Svolacius for your feed back - TRADERS HELPING TRADERS - but where are ALL the others? Like Rub, I am curious why you did an upside down analysis? Good analysis and conclusion though, Eurotrader A quick shufty at the Big Boss tells me PRICE is ranging sideways from 2013 from 0.91 to 1.04. {image} {image} There is about 110 pips between where PRICE...
Gracias, fellow traders!

I am curious why you did an upside down analysis?
Well, I just started writing about the "most interesting" chart where I saw PA.
I usually have the three timeframes open at the same time in order to get an idea at first glance. After that, I have a closer look at BIG BOSS, then at BOSS and ultimately to WORKER. If BIG BOSS and BOSS are pointing completely to the opposite direction or BIGBOSS is just ranging into a narrow zone, I don't waste time looking at the rest of the charts.
Example of what I see when I open a pair chart.
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I am not desperate to make 110 pips with 1:1 R:R on what looks like the buyers waiting to pounce at any time. If I was not RISK averse and wanting to trade for 110 pips I would first check the lower time frame(s) and trade on that
I have no time for that, only Daily and H4 very few times but I'll write it down for the future
IF IT DOESN'T FEEL RIGHT - IT'S NOT RIGHT!
  • #7,764
  • Oct 16, 2018 5:41pm Oct 16, 2018 5:41pm
Quoting strat
PASR {quote} Victoria, Since there are no trends in M5 to trade in my PDT time zone, I have spent TIME going through all your posts on here starting with your first post on July 05, 2018. The next day, you start practice trading PASR. Then, surprise, SURPRISE, 8 days later, you lost 100 practice pips My understanding of you from my TIME spent on your posts is that you are looking for short cuts and are NOT prepared to study my "old" original thread followed by this thread. To my knowledge, no-one has emerged "consistently profitable" by taking short...
Thank you Strat,
You have sharp eyes. I don't finish both threads.
You said 'short cut' to many students but I didn't really think about it. It did hit my head and let me think about the words my dad said to me when I was young. He said 'you think you are clever so you can find a short cut but there is no short cut in life'. Trading is another way to grow.
I have read the summary from your website once when I started. I started to read again last night.

Anyway, I am going to read all. I won't post anything until I finish and think I understand all of them.
I had some new thoughts when I read the page 1 of this thread yesterday. So I will start like I have never heard about PASR.

Thanks again and see you in a while. Hopefully not very long.
We don't see things as they are, we see them as we are.
  • #7,765
  • Oct 16, 2018 6:40pm Oct 16, 2018 6:40pm
Quoting Victoria2017
{quote} Thank you Strat, You have sharp eyes. I don't finish both threads. You said 'short cut' to many students but I didn't really think about it. It did hit my head and let me think about the words my dad said to me when I was young. He said 'you think you are clever so you can find a short cut but there is no short cut in life'. Trading is another way to grow. I have read the summary from your website once when I started. I started to read again last night. Anyway, I am going to read all. I won't post anything until I finish and think I understand...
Anyway, I am going to read all. I won't post anything until I finish and think I understand all of them.

Don't do that. Don't. Just don't.

That was probably one of my worst mistake that I made on the path, for at least about 4 months long.

What should be done is, read and understand, and then practice them on the chart, and then post the outcome of your practice here. Use whatever you found on your path and ask if there is any doubt on the path. It should all be happening at the same day everyday. Without posting them out, no one can see your mistakes and correct you.

That does not mean you could just read part of them and skip the rest since you got more questions answered here. Before the days of GPS exist, map doesn't always have every detail that you need to ask people on the path to get the correct direction, but without the map you don't even know where your destination roughly is.

I've been making the same mistake for past few days as well until I try to study the posts of saad007 to see what we did differently last night. Outside of we focusing on different TF, he spent thousand hours practicing on the chart posted most of his practice result here to be commented, I did not. That could be one of the major reason that he is already consistently profitable but I'm still, struggling. While I was reluctant to do the same earlier (as it kinda looks spammy), that is what I am going to try from now on.
  • #7,766
  • Oct 17, 2018 12:48am Oct 17, 2018 12:48am
Quoting Eurotrader17
{quote} Gracias, fellow traders! I am curious why you did an upside down analysis? Well, I just started writing about the "most interesting" chart where I saw PA. I usually have the three timeframes open at the same time in order to get an idea at first glance. After that, I have a closer look at BIG BOSS, then at BOSS and ultimately to WORKER. If BIG BOSS and BOSS are pointing completely to the opposite direction or BIGBOSS is just ranging into a narrow zone, I don't waste time looking at the rest of the charts. Example of what I see when...
This has probably already been mentioned by now, but do you do an analysis at the end of a week/month? At the end of a month I clear everything off my chart, and redraw my support/resistance. During the weekend I do a top down analysis, and write it down, with my conclusion on what direction to trade, or if I'm staying out. It sounds like you need to do that, and follow it!

Quoting Victoria2017
{quote} Thank you Strat, You have sharp eyes. I don't finish both threads. You said 'short cut' to many students but I didn't really think about it. It did hit my head and let me think about the words my dad said to me when I was young. He said 'you think you are clever so you can find a short cut but there is no short cut in life'. Trading is another way to grow. I have read the summary from your website once when I started. I started to read again last night. Anyway, I am going to read all. I won't post anything until I finish and think I understand...
I agree with huatzhi, you need to practice what you're reading. I am only about 1/3rd of the way through the old thread, but I'm reading, then putting into practice, and reading further once I'm comfortable with what I'm doing. Using metatrader 4 on the weekend, scrolling back then using F12 to advance the chart one bar at a time will help, especially if you use a line to mark your entries and see how they would've played out.
  • #7,767
  • Oct 17, 2018 2:12am Oct 17, 2018 2:12am
Quoting BeyondTheSea
{quote} Currently at Worker resistance and still deciding about the Boss swing, looking from the other side... smaller TF/5RR? I can't really get into these JPY pairs apart from GBPJPY it's like watching snails racing in the rain...
Hahaha Snails racing in the rain, best thing Ive heard all week
  • #7,768
  • Edited 6:33am Oct 17, 2018 2:18am | Edited 6:33am
Quoting Victoria2017
{quote} Thank you Strat, You have sharp eyes. I don't finish both threads. You said 'short cut' to many students but I didn't really think about it. It did hit my head and let me think about the words my dad said to me when I was young. He said 'you think you are clever so you can find a short cut but there is no short cut in life'. Trading is another way to grow. I have read the summary from your website once when I started. I started to read again last night. Anyway, I am going to read all. I won't post anything until I finish and think I understand...
Just the only way to go......

Strat does not have only sharp eyes, he's very good at human nature too. And he can predict what you are doing miles away, but the only thing he can't predict is price, because we can only REACT to it.

Make THE PATH your only way and your ways shall be smooth and easy.


Happy Trading,
Yomi.
Time always comes before price
  • #7,769
  • Oct 17, 2018 6:59am Oct 17, 2018 6:59am
CADJPY ready to go short on M15
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Val
  • #7,770
  • Oct 17, 2018 7:15am Oct 17, 2018 7:15am
Quoting fxmarvel
CADJPY ready to go short on M15 {image}
good luck mate
you are sitting on top of resistance, there is not much of a trend. I dont particularly like this chart yet.
and why do you even pick this chart with a daily range slightly lower than EURUSD

and by the way. I would put my SL closer
EDIT:
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  • #7,771
  • Oct 17, 2018 7:43am Oct 17, 2018 7:43am
Quoting bistolis
{quote} good luck mate you are sitting on top of resistance, there is not much of a trend. I dont particularly like this chart yet. and why do you even pick this chart with a daily range slightly lower than EURUSD and by the way. I would put my SL closer EDIT: {image}
Thanks!
You are correct, I saw the M15 ma support but I don't think it is going to hold.
On H4, there was a bearish engulfing at resistance, I think there will be another leg down to maybe the dotted ma support (about 50% retracement)
I normally trail the stop loss which I already moved closer.
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Val
  • #7,772
  • Oct 17, 2018 7:45am Oct 17, 2018 7:45am
Quoting fxmarvel
{quote} Thanks! You are correct, I saw the M15 ma support but I don't think it is going to hold. On H4, there was a bearish engulfing at resistance, I think there will be another leg down to maybe the dotted ma support (about 50% retracement) I normally trail the stop loss which I already moved closer. {image}
I just pointed out what I would consider when looking at this quickly
as I said good luck. you could have a winner
  • #7,773
  • Oct 17, 2018 7:47am Oct 17, 2018 7:47am
Hi all. Wanted to check in. I am still with family and 1600 miles from my trading desk. Helping my mom with cattle and spending time with my sisters. Friday I start making my way home and getting on the path. Looking forward to it.

Have a super week and weekend.

Rufus
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #7,774
  • Oct 17, 2018 8:26am Oct 17, 2018 8:26am
Here are some entries that I found on EURNZD F12 Practices.
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  • #7,775
  • Oct 17, 2018 8:40am Oct 17, 2018 8:40am
Quoting fxmarvel
{quote} Thanks! You are correct, I saw the M15 ma support but I don't think it is going to hold. On H4, there was a bearish engulfing at resistance, I think there will be another leg down to maybe the dotted ma support (about 50% retracement) I normally trail the stop loss which I already moved closer. {image}
Or this support will hold

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  • #7,776
  • Oct 17, 2018 8:52am Oct 17, 2018 8:52am
Quoting Szpons
{quote} Or this support will hold {image}
I was looking at this and the daily and that is why I dont like it. 20pips total
  • #7,777
  • Oct 17, 2018 9:02am Oct 17, 2018 9:02am
Quoting Szpons
{quote} Or this support will hold {image}
Of course this trade could still go bust, I may be wrong..
If I enter M5 or M15 I look for H1 or H4 support/resistance
I think this trade is more likely to find support at 50% retracement where there is also H1 structure
I prefer to use M15 (in this case) to manage my trade (aka trail the stop) based on structure hoping the price will go down to H4 support

EDIT: on M15, the dotted ma represents higher timeframe support that is the reason I was looking at it initially
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Val
  • #7,778
  • Oct 17, 2018 9:10am Oct 17, 2018 9:10am
Quoting fxmarvel
{quote} Of course this trade could still go bust, I may be wrong.. If I enter M5 or M15 I look for H1 or H4 support/resistance I think this trade is more likely to find support at 50% retracement where there is also H1 structure I prefer to use M15 (in this case) to manage my trade (aka trail the stop) based on structure hoping the price will go down to H4 support {image}
I prefer the top 5-8 volatility based pairs ( mostly GBP) to keep an eye for trends on M5 M15, and CADJPY is not even close
Attached Image

just not my cup of tea. and with all this brexit headlines , I prefer to be a spectator this week.
  • #7,779
  • Oct 17, 2018 9:29am Oct 17, 2018 9:29am
CADJPY

Quoting Svolacius
Well, now I am practicing my trade selection. CAD/JPY is showing the Price Action that I looked for, but now measuring the R:R for this Basic PASR trade I see that in order to only get 2:1 R:R, my TP would need to go beyond the S/R level. The probability of that happening is much lower than sticking to S/R level. That is why I will not take this trade and not risk my hard earned money on low probability and low-reward trade. {image}
I will not take this trade and not risk my hard earned money on low probability and low-reward trade.

Well done, Augustas, a BIG step on THE PATH.

Now you know that a NO TRADE is a GOOD TRADE!
15 YEARS OF PASR ON FOREX FACTORY!
  • #7,780
  • Oct 17, 2018 9:36am Oct 17, 2018 9:36am
AUDCAD

Quoting Eurotrader17
{quote} Gracias, fellow traders! I am curious why you did an upside down analysis? Well, I just started writing about the "most interesting" chart where I saw PA. I usually have the three timeframes open at the same time in order to get an idea at first glance. After that, I have a closer look at BIG BOSS, then at BOSS and ultimately to WORKER. If BIG BOSS and BOSS are pointing completely to the opposite direction or BIGBOSS is just ranging into a narrow zone, I don't waste time looking at the rest of the charts. Example of what I see when...
Example of what I see when I open a pair chart.

Hmm, that's exactly what I did many years ago. What I found though was that I could not SEE clearly and found myself missing important PASR on the Big Boss and Boss. If that is YOUR style and it works for YOU then that is all that matters.
15 YEARS OF PASR ON FOREX FACTORY!
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