Thanks Yomi for your kind words. It is most appreciated.
1
Strat's PASR Long Term, Stress Free Trading
- #7,922
- Oct 24, 2018 9:16am Oct 24, 2018 9:16am
- Joined Feb 2009 | Status: 15 YEAR PASR THREAD Senior Member | 12,379 Posts
15 YEARS OF PASR ON FOREX FACTORY!
- #7,924
- Oct 24, 2018 9:34am Oct 24, 2018 9:34am
- Joined Feb 2009 | Status: 15 YEAR PASR THREAD Senior Member | 12,379 Posts
USDJPY BASIC PASR WORKER
Was this a "spur of the moment trade" or did you do a 3 time frame analysis?
The Daily chart looks inviting for long trades with its L-H-HL-HH etc., structure but its Bosses would have kept me out.
If it was my trade, I would be dropping down to H4 or H1 and getting out as soon as I could near my blue line.
Again, why has no-one else commented on this?
{quote} USDJPY BASIC PASR WORKER I also saw this one and took a long on it. Let's see how it resolves {image} However, the very next SR only get 1:1 RR Based on my analysis I see the next strong support at 114.47 so I get a better RR because of that but I could be too optimistic and maybe the high of July 2018 (113ish) could act as a resistance rather than just a wobble area.
The Daily chart looks inviting for long trades with its L-H-HL-HH etc., structure but its Bosses would have kept me out.
If it was my trade, I would be dropping down to H4 or H1 and getting out as soon as I could near my blue line.
Again, why has no-one else commented on this?
15 YEARS OF PASR ON FOREX FACTORY!
- #7,925
- Oct 24, 2018 9:49am Oct 24, 2018 9:49am
- Joined Feb 2009 | Status: 15 YEAR PASR THREAD Senior Member | 12,379 Posts
M5 PASR NEWS TRADING
The beauty and POWER of trading NEWS with M5 PASR Trend Trading .
In ALL CASES, PASR had us CORRECTLY positioned to TAKE ADVANTAGE of the PRICE reaction to the news.
The beauty and POWER of trading NEWS with M5 PASR Trend Trading .
In ALL CASES, PASR had us CORRECTLY positioned to TAKE ADVANTAGE of the PRICE reaction to the news.
15 YEARS OF PASR ON FOREX FACTORY!
- #7,926
- Oct 24, 2018 9:52am Oct 24, 2018 9:52am
- Joined Feb 2009 | Status: 15 YEAR PASR THREAD Senior Member | 12,379 Posts
15 YEARS OF PASR ON FOREX FACTORY!
- #7,927
- Oct 24, 2018 9:54am Oct 24, 2018 9:54am
- Joined Feb 2009 | Status: 15 YEAR PASR THREAD Senior Member | 12,379 Posts
15 YEARS OF PASR ON FOREX FACTORY!
- #7,928
- Oct 24, 2018 10:03am Oct 24, 2018 10:03am
- Joined Feb 2009 | Status: 15 YEAR PASR THREAD Senior Member | 12,379 Posts
15 YEARS OF PASR ON FOREX FACTORY!
- #7,929
- Oct 24, 2018 10:18am Oct 24, 2018 10:18am
- Joined Aug 2010 | Status: EsikeTrader | 2,227 Posts
Time always comes before price
- #7,930
- Edited 12:22pm Oct 24, 2018 11:24am | Edited 12:22pm
- Joined Feb 2009 | Status: 15 YEAR PASR THREAD Senior Member | 12,379 Posts
EUR AUD M5 Trend Trading
Well done, Malu!
You have a wonderful reply from Yomi, our resident M5/M15 PASR Trend Trading expert - Thank you, Yomi - TRADERS HELPING TRADERS
when I have a look at M5 trend I wait in the morning until 8.30/9.00 am (London time) until I jump on the train (TREND). Today it worked very well: I added the position and especially the exit was fine.
Yomi's reply is more eloquent than mine but it is still worth repeating:
We look for PASR trades which stand out like a SORE THUMB.
No TREND - NO TRADE.
NO PASR SET UP - NO TRADE
I feel a bit more comfortable trading M5,
on M5 I "see" the trades better/easier than on the longer time-frames
This is the result of your progress on THE PATH.
M5 provides us with 288 times the opportunities we have when trading the Daily chart. Once you have your trading brain set up with PASR, you can recognise and trade the opportunities on any time frame. There are also MORE TRENDS but of shorter duration on M1 and M5 which again, provide PASR traders with even more opportunities.
Since most on here will think that M5 is ""too fast"" to trade (which it really is not after you have tuned your PASR trading brain to it - it becomes slow, as does M1), perhaps you could post your experience on this.
although I am trying to focus on the longer time-frames (worker) as well
The longer time frames are where the BIG MONEY is at but at the expense of boring, STRESS FREE trading. As you build your experience with PASR, you will find you can include all our PASR strategies in your trading Portfolio or, just do a Yomi, and be content with ""Happy"" M5 PASR Trend Trading.
Remember, it is NEVER about PIPS won. PIPS are meaningless, have no value and are no measure for being "consistently profitable".
The $ value of the "pip", and therefore the money, is all that counts.
All over these FF threads you see Hobby Traders, Lurkers, Self Acclaimed Gurus, Talking Heads etc., etc., bragging about PIPS WON on their DEMO accounts.
If they ever get past the "SHOCK" of trading with their REAL, Hard Earned money, they may realise that 100 PIPS won at 0.001 lot is ONLY $1 - or maybe 0.01 for $10 - BIG DEAL!
Now if they have the experience, trade management, RISK tolerance and account size, they can trade 0.1 lots meaning they earned $100.
Then, move into the realm of "Trading For A Living" and trading multiples of standard 1.0 lots becomes multiples of $1,000.
So again:
Remember, it is NEVER about PIPS won. PIPS are meaningless, have no value and are no measure for being "consistently profitable".
The $ value of the "pip", and therefore the money, is all that counts.
could be that I am over-complicating things here?!?
No, PASR is clicking into place and you are applying what you have read, learned and UNDERSTOOD!
EUR AUD M5 Trend Trading as usually, when I have a look at M5 trend I wait in the morning until 8.30/9.00 am (London time) until I jump on the train. Today it worked very well: I added the position and especially the exit was fine. What gives me food for thoughts is the fact, that at the moment I feel a bit more comfortable trading M5, although I am trying to focus on the longer time-frames (worker) as well. Maybe that sounds strange, but on M5 I "see" the trades better/easier than on the longer time-frames - could be that I am over-complicating...
You have a wonderful reply from Yomi, our resident M5/M15 PASR Trend Trading expert - Thank you, Yomi - TRADERS HELPING TRADERS
when I have a look at M5 trend I wait in the morning until 8.30/9.00 am (London time) until I jump on the train (TREND). Today it worked very well: I added the position and especially the exit was fine.
Yomi's reply is more eloquent than mine but it is still worth repeating:
We look for PASR trades which stand out like a SORE THUMB.
No TREND - NO TRADE.
NO PASR SET UP - NO TRADE
I feel a bit more comfortable trading M5,
on M5 I "see" the trades better/easier than on the longer time-frames
This is the result of your progress on THE PATH.
M5 provides us with 288 times the opportunities we have when trading the Daily chart. Once you have your trading brain set up with PASR, you can recognise and trade the opportunities on any time frame. There are also MORE TRENDS but of shorter duration on M1 and M5 which again, provide PASR traders with even more opportunities.
Since most on here will think that M5 is ""too fast"" to trade (which it really is not after you have tuned your PASR trading brain to it - it becomes slow, as does M1), perhaps you could post your experience on this.
although I am trying to focus on the longer time-frames (worker) as well
The longer time frames are where the BIG MONEY is at but at the expense of boring, STRESS FREE trading. As you build your experience with PASR, you will find you can include all our PASR strategies in your trading Portfolio or, just do a Yomi, and be content with ""Happy"" M5 PASR Trend Trading.
Remember, it is NEVER about PIPS won. PIPS are meaningless, have no value and are no measure for being "consistently profitable".
The $ value of the "pip", and therefore the money, is all that counts.
All over these FF threads you see Hobby Traders, Lurkers, Self Acclaimed Gurus, Talking Heads etc., etc., bragging about PIPS WON on their DEMO accounts.
If they ever get past the "SHOCK" of trading with their REAL, Hard Earned money, they may realise that 100 PIPS won at 0.001 lot is ONLY $1 - or maybe 0.01 for $10 - BIG DEAL!
Now if they have the experience, trade management, RISK tolerance and account size, they can trade 0.1 lots meaning they earned $100.
Then, move into the realm of "Trading For A Living" and trading multiples of standard 1.0 lots becomes multiples of $1,000.
So again:
Remember, it is NEVER about PIPS won. PIPS are meaningless, have no value and are no measure for being "consistently profitable".
The $ value of the "pip", and therefore the money, is all that counts.
could be that I am over-complicating things here?!?
No, PASR is clicking into place and you are applying what you have read, learned and UNDERSTOOD!
15 YEARS OF PASR ON FOREX FACTORY!
- #7,931
- Oct 24, 2018 11:31am Oct 24, 2018 11:31am
Wow, I am glad that the thread has became more active since I left. Can't wait to join in the discussions.
Alright, so my first analysis on GBPCAD.
Big Boss:
Price is clearly still in a downswing. Not intimidated by the Hammer, as it is 'out of place'.
Boss:
This week is the 8th week of the Weekly Control Candle. I decided to use the candle of the 2nd September, as the candle of the 7th October exceeded the range only by a little.
Worker:
Now, there are three possible entries. I will talk about them briefly.
1st blue arrow: Standard Bearish rejection candle off the top of the Weekly Control Candle. I actually took this signal and closed with profit on the day itself, as I knew I was still too busy to monitor on a daily basis.
2nd red arrow: I ask myself if I would have taken this trade. The doji at resistance offers a good reversal signal, but the Strat Shadow could offer support (it took 6 days for price to break). Not really a risk-free trade.
3rd arrow (blue): Another rejection candle on the 22nd October. Placed 2 sell stops a few pips below low of that candle. 1st target reached at bottom of WCC. Good thing about trading the Daily is that, news don't really affect you so much as the intraday traders. Up till the moment I saw price dropping like a knife, I did not even know today was CAD rate decision!
Thank you Strat Shadow!
Alright, so my first analysis on GBPCAD.
Big Boss:
Price is clearly still in a downswing. Not intimidated by the Hammer, as it is 'out of place'.
Boss:
This week is the 8th week of the Weekly Control Candle. I decided to use the candle of the 2nd September, as the candle of the 7th October exceeded the range only by a little.
Worker:
Now, there are three possible entries. I will talk about them briefly.
1st blue arrow: Standard Bearish rejection candle off the top of the Weekly Control Candle. I actually took this signal and closed with profit on the day itself, as I knew I was still too busy to monitor on a daily basis.
2nd red arrow: I ask myself if I would have taken this trade. The doji at resistance offers a good reversal signal, but the Strat Shadow could offer support (it took 6 days for price to break). Not really a risk-free trade.
3rd arrow (blue): Another rejection candle on the 22nd October. Placed 2 sell stops a few pips below low of that candle. 1st target reached at bottom of WCC. Good thing about trading the Daily is that, news don't really affect you so much as the intraday traders. Up till the moment I saw price dropping like a knife, I did not even know today was CAD rate decision!
Thank you Strat Shadow!
- #7,932
- Oct 24, 2018 11:43am Oct 24, 2018 11:43am
USDJPY BASIC PASR WORKER {quote} Was this a "spur of the moment trade" or did you do a 3 time frame analysis? The Daily chart looks inviting for long trades with its L-H-HL-HH etc., structure but its Bosses would have kept me out. If it was my trade, I would be dropping down to H4 or H1 and getting out as soon as I could near my blue line. Again, why has no-one else commented on this? {image} {image} {image}
Although the Big Boss and Boss are still in an uptrend/upswing, Price is now at resistance. I will monitor and wait for PASR to tell me what to do.
Here are my lines:
green pips to you all
- #7,938
- Oct 24, 2018 1:55pm Oct 24, 2018 1:55pm
- Joined Aug 2010 | Status: EsikeTrader | 2,227 Posts
Time always comes before price
NZDCAD {quote} That was a comment on your trade, Post 7829. I don't trade NZDCAD unless there is nothing else going on. BTS traded it on H4.
{quote} I look for confluence to find my PASR levels. I then attempt to read beyond the candles before and during my trade placement. My first entry on this used the previous Boss close. The previous worker low and the previous worker close. Then the H4 price action in that zone with the Strat Shadow on the back of where the Big Boss had visited and where I though it might be heading with all of the above. I didn't look at H4 in isolation but just jumped onto it's trend half way through it.
{quote} Looking at it on the 4hr chart, there was a nice hammer about 4am my time. That would've got you in with about a 50 pip stop loss and been in profit now. It would've been the 2nd last four hour candle for the day.
IF IT DOESN'T FEEL RIGHT - IT'S NOT RIGHT!
AUDJPY Even though I came back to THE PATH, I saw this double bottom on the 4h chart. The R / R ratio is not the best, but 80.00 as the first TP are affordable. Greetings to all. {image}
Also, in my weekly analysis, I noted BOSS and BIGBOSS immediate trend was down but just facing 78.59 support and 80ish resistance.
No trade for me so far
IF IT DOESN'T FEEL RIGHT - IT'S NOT RIGHT!