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Strat's PASR Long Term, Stress Free Trading

  • #8,021
  • Oct 26, 2018 5:12pm Oct 26, 2018 5:12pm
Quoting strat
PASR THE PATH {quote} From years and years of experience doing the same thing, all I can tell you is that you will fill your mind with useless CRAP which will confuse the bejabers out of you as soon as you see PRICE moving up and down. I bought all the books, software, videos, audios etc., etc., and everything that money could buy in my trading education - where are they now? Every single one of them was given to Goodwill stores. I do not possess anything to do with trading except what is between my ears. My best advice is 2 choices: Re - read,...
There is only one choice for now, PASR. though the islands will always be there.
I am a hobby reader, not really reading these books to learn how to trade when I have all the education right here. My passion is reading books (any kind).
For the next week it will be those three books I was showing. I am only interested how people view the markets ( especially when they have made money ). And really really curious about what Mandelbrot is writing about.
As always, thanks for the guidance
  • #8,022
  • Oct 26, 2018 8:15pm Oct 26, 2018 8:15pm
Quoting bistolis
{quote} There is only one choice for now, PASR. though the islands will always be there. I am a hobby reader, not really reading these books to learn how to trade when I have all the education right here. My passion is reading books (any kind). For the next week it will be those three books I was showing. I am only interested how people view the markets ( especially when they have made money ). And really really curious about what Mandelbrot is writing about. As always, thanks for the guidance

Well Bistolis.
We have the same passion for reading. I must have 3 or 4 being read at any given time. Looks like we read some of the same things. Have a good week digging into those. I am looking forward to some uninterrupted time with my book as well.

As for the Path. Been kicking around ways to do a "Path Journal". Maybe I will get it figured out this weekend.

Have a great weekend
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #8,023
  • Oct 26, 2018 9:26pm Oct 26, 2018 9:26pm
Quoting strat
Peace, Positivity and Enlightenment {quote} Thank you, Suranga, A great pity you could not have enrolled the comedians and clowns in the Comedy Thread on this.

May be I should ask them to join next time...
Focus, Patience, Discipline, Determination and Perseverance
  • #8,024
  • Edited 2:03am Oct 27, 2018 1:41am | Edited 2:03am
Quoting MikuSS
{quote} Hi Strat, Totally agree with you on the ribbon helping out on PASR Trend trades. I have no doubt about the usefulness of the Strat Shadow, as it prevents us on taking trades on the wrong side, especially when it trends really well like AUDUSD. However, there are situations (usually Basic PASR and Swing PASR )when the ribbon is green and signal is to go short. Take the EURJPY for example: {image} I like this signal a lot. The first arrow shows a Shooting Star, which sort of 'failed' in the next 2 candle as buyers were still willing to protect...
Hi Miku,

I assume your stoploss is on the high of the PA right? I believe it should be couple pips higher than high of the swing high. A couple pips above would safe you from hitting your SL (could due to spread).

For your case, the PA was not confirmed swing high, so I might put the SL a bit higher (last swing high that is higher than current PA).
Although it might not be necessary as when the price goes above the high of shooting star is already mean that this shooting star is a fail shooting star.

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PS Sorry for the reply is abit off topic
  • #8,025
  • Oct 27, 2018 2:29am Oct 27, 2018 2:29am
Quoting strat
NZDJPY {quote} Excellent Augustas! I could not have written this better myself. The only comments I can add is wondering why BRN 72 is such an important PRICE for this pair and why volatility from 2016 to now is significantly less than 2009 through 2015. Maybe Rub and other "down under" traders can shed some light on this?
Thank you, Strat. This Price Action on NZD/JPY was just THERE, I did not look for it!
  • #8,026
  • Oct 27, 2018 2:31am Oct 27, 2018 2:31am
Quoting strat
PASR {quote} Now I understand EXCEPT for you calling the Strat Shadow ""the ribbon"". This tells me you have some sort of mental block in recognising it as exactly what it is - the STRAT SHADOW. Are you sure you are on THE PATH? Totally agree with you on the ribbon However, there are situations (usually Basic PASR and Swing PASR )when the ribbon is green and signal is to go short. If I were to blindly follow the colours of the ribbon It is NOT a ""ribbon"" it is the STRAT SHADOW!!!!!!!!! Take the EURJPY for example: I like this signal a lot. The...
PASR traders trade PRICE not the Strat Shadow. PASR traders UNDERSTAND the relationship between buyers and sellers at Supply and Resistance.

I think you meant Support and Resistance? Just making sure we don't have any typos since this whole thread is our textbook that we learn from!
  • #8,027
  • Oct 27, 2018 9:23am Oct 27, 2018 9:23am
EURJPY

Quoting huatzhi
{quote} Hi Miku, I assume your stoploss is on the high of the PA right? I believe it should be couple pips higher than high of the swing high. A couple pips above would safe you from hitting your SL (could due to spread). For your case, the PA was not confirmed swing high, so I might put the SL a bit higher (last swing high that is higher than current PA). Although it might not be necessary as when the price goes above the high of shooting star is already mean that this shooting star is a fail shooting star. {image} PS Sorry for the reply is a bit...
Thank you, huatzhi - TRADER HELPING TRADERS

For your case, the PA was not confirmed swing high, so I might put the SL a bit higher (last swing high that is higher than current PA)

Good point! This is a personal choice but after the red candle on September 26, 2018, it would be safe to use this swing for the Stop Loss.

Note: I do not use my method of determining swing highs and lows on the Daily chart as PRICE is too ""jerky"" and creates too many false swing highs and lows. I only use my method of determining swing highs and lows on the Weekly chart.

when the price goes above the high of shooting star is already mean that this shooting star is a fail shooting star.

Maybe you meant this but a Shooting Star only fails when PRICE CLOSES above its high. Similarly, a Hammer only fails when PRICE CLOSES below its low. PRICE spiking to those two extremes just becomes a test of them. As always in PASR - the CLOSE is what is important.

Sorry for the reply is a bit off topic

Not at all, huatzhi. Keep doing this as it will accelerate your progress on THE PATH
15 YEARS OF PASR ON FOREX FACTORY!
  • #8,028
  • Oct 27, 2018 9:26am Oct 27, 2018 9:26am
PASR THE PATH

Quoting Svolacius
{quote} PASR traders trade PRICE not the Strat Shadow. PASR traders UNDERSTAND the relationship between buyers and sellers at Supply and Resistance. I think you meant Support and Resistance? Just making sure we don't have any typos since this whole thread is our textbook that we learn from!
Congratulations and thank you, Augustas - go to the top of the Class!

It was a "stratricktomy" - a deliberate error to find out who ACTUALLY reads my posts and learns from them. So now I know there is just you and me.
15 YEARS OF PASR ON FOREX FACTORY!
  • #8,029
  • Oct 27, 2018 9:27am Oct 27, 2018 9:27am
Quoting Suran
Hi JCMPete and Rufus, Thanks for the replies {quote} Well.. I didn't have even a second to think about Strat Shadow nor Strat.....Because from 4.30 am (early morning ) till 9.30 pm (night) I was in a tight schedule. And then again 9.30 pm to 4.00 am I was sleeping. In the beginning I thought I went to prison (voluntarily) with hard labor. I felt like running away but I surrendered and thought its only 10 days. And I am happy that I did it..but after couple of days I got used to it and with in 4 days I was really enjoying..and searching for...
A book you may find of interest is The Power of Now by Eckhart Tolle. He has written three books and I have them all and highly recommend to anyone trying to understand "The Path of Life".

Regards
Terry
  • #8,030
  • Oct 27, 2018 9:33am Oct 27, 2018 9:33am
EURJPY

I wonder what you lot make of this?

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15 YEARS OF PASR ON FOREX FACTORY!
  • #8,031
  • Oct 27, 2018 9:35am Oct 27, 2018 9:35am
Quoting strat
PASR THE PATH {quote} Congratulations and thank you, Augustas - go to the top of the Class! It was a "stratricktomy" - a deliberate error to find out who ACTUALLY reads my posts and learns from them. So now I know there is just you and me.
All of your posts are read by me regularly. However I don't find the need to nitpick about a word or two used that is clearly understood and was probably just a typo.

Regards
Terry
  • #8,032
  • Edited 2:39pm Oct 27, 2018 10:28am | Edited 2:39pm
Quoting strat
EURJPY I wonder what you lot make of this? {image}
Price has been ranging between 133 and 125 since March this year so at the moment it is getting to the lower end of that range.
The Big Boss is down and closes the middle of next week and currently is in the process of printing a BEEB (however won't be confirmed until that time).
There has been strong selling for the past five weeks with price now at pretty strong support. This support area has been used as both support and resistance many times in the past.
Last week there was a pause in the selling as indicated by the neutral Boss bar but this week printed a BEEB.
This week selling resumed but on Thursday sellers were taking a rest and on Friday started selling again and ran into buyers who were not willing to let price go any lower.
So based on this, what does that mean?
Big Boss is down
Boss is down
I haven't been watching this pair too closely as if I had been there was a good sell signal on Monday. Now looking for worker signal to get short but Thursday and Friday candles are definitely not sell signals (actually Friday's candle is as close to a perfect hammer as you can get) especially with price so far from the shadow. Next week a bounce in price may provide a signal to enter in the direction of the BB and Boss.
Dropping to H4 does show an opportunity get long on a move above that bullish bar for a short term counter trend trade.

NOTE: If one were to not over analyze this pair and just trade the Boss swings, the worker Friday bullish bar found support on the previous Boss swing low so may be a good signal to get long for another upswing.
Attached Image(s) (click to enlarge)
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  • #8,033
  • Edited 3:33pm Oct 27, 2018 11:00am | Edited 3:33pm
Hello All,

I wanted to post a quick introduction to the thread members. I started trading Forex 3 years ago and as many do I looked at several systems. After system hoping, I focused on Price Action, which changed everything about my trading. Following Strat's old thread, and working on a different m15 price action system (which is not important), drastically improved my trading.

I took this year off from Forex to focus on options trading and relocate out of state. During this time I missed the many advantages of Forex Trading. My plan is to review this entire thread (currently on page 63) and then post some charts.

Quick question for US traders - Which broker are you using? I am leaning towards Oanda but would appreciate your feedback.

Have a great weekend!
Successful people do what unsuccessful people are not willing to do
  • #8,034
  • Oct 27, 2018 11:16am Oct 27, 2018 11:16am
Quoting strat
EURJPY I wonder what you lot make of this? {image}
It could be the beginning of a higher low to resume the uptrend
Frank
  • #8,035
  • Oct 27, 2018 11:22am Oct 27, 2018 11:22am
Quoting strat
PASR {quote} Now I understand EXCEPT for you calling the Strat Shadow ""the ribbon"". This tells me you have some sort of mental block in recognising it as exactly what it is - the STRAT SHADOW. Are you sure you are on THE PATH? Totally agree with you on the ribbon However, there are situations (usually Basic PASR and Swing PASR )when the ribbon is green and signal is to go short. If I were to blindly follow the colours of the ribbon It is NOT a ""ribbon"" it is the STRAT SHADOW!!!!!!!!! Take the EURJPY for example: I like this signal a lot. The...
Hi Strat,

Thank you for your detailed reply. I am not sure if I am a Hobby Trader, I am definitely trying my best to learn during my free time (at home, during travel). Sometimes it is difficult to juggle this and family/work, but I do what I can to be on the Path to be a profitable trader.

When I talked about the ribbon, it is simply the colour of the Strat Shadow, and they do not mean the same thing. I simply used the name of the indicator. I will add the colours back in my charts.

This is where H4 PASR Trend Traders are ADDING on to their LONG positions --> Did you mean SHORT positions? Why would you buy on a downtrend? There are also some lines which I do not really understand why you drew them.

So to summarise, after the Shooting Star on the Daily, we toggle down to the Worker (H4) and look for short positions. On the chart, the red arrow is the candle that imprinted the Shooting Star on the Daily. I have also marked the blue arrows I consider Trend PASR addons.

Attached Image (click to enlarge)
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Any comments and feedback are welcome.
  • #8,036
  • Oct 27, 2018 11:37am Oct 27, 2018 11:37am
Quoting strat
EURJPY I wonder what you lot make of this? {image}
Big Boss: Price has been ranging for at least the past 6 months, trapped between this support and resistance.
Attached Image (click to enlarge)
Click to Enlarge Name: EURJPYMonthly.png Size: 124 KB


Boss: Price broke out and closed below Weekly Control Candle. As what Terry has mentioned, the candle that closed on the 19th October was a doji, indicating indecisiveness, but this week's candle was a BEEB, clearly showing the swing down is still intact. We can also look at confirmed swings to get some idea of what the Big Boys might intend to do next.
Attached Image (click to enlarge)
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Worker: Ah, the Hammer. Definitely a lot of space to the left, great location as well. In addition to the doji on the Boss on the 19th October (which translates to the messy candles inside the Weekly Control Candle), this is definitely another indication that the sellers are losing, and a final push down.
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Aggressive traders could send some scouts on Monday open, while the more conservative ones could wait for a retest before Price goes higher again.
  • #8,037
  • Oct 27, 2018 11:51am Oct 27, 2018 11:51am
Quoting MikuSS
{quote} Hi Strat, Thank you for your detailed reply. I am not sure if I am a Hobby Trader, I am definitely trying my best to learn during my free time (at home, during travel). Sometimes it is difficult to juggle this and family/work, but I do what I can to be on the Path to be a profitable trader. When I talked about the ribbon, it is simply the colour of the Strat Shadow, and they do not mean the same thing. I simply used the name of the indicator. I will add the colours back in my charts. This is where H4 PASR Trend Traders are ADDING on to their...

Look this chart from Strat The Black Arrow, look that bullish candle:

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This is my chart, same candle.

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In that candle, the H4 Trend Traders are adding or buying positions going with the trend.
  • #8,038
  • Oct 27, 2018 12:05pm Oct 27, 2018 12:05pm
Quoting MikuSS
{quote} Hi Strat, Thank you for your detailed reply. I am not sure if I am a Hobby Trader, I am definitely trying my best to learn during my free time (at home, during travel). Sometimes it is difficult to juggle this and family/work, but I do what I can to be on the Path to be a profitable trader. When I talked about the ribbon, it is simply the colour of the Strat Shadow, and they do not mean the same thing. I simply used the name of the indicator. I will add the colours back in my charts. This is where H4 PASR Trend Traders are ADDING on to their...

And -> for me <- In here start the Downtrend.

Attached Image (click to enlarge)
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The last add-on buyers didnt make a new higher high, so they dont have power and the sellers make a new lower low. And then the Lower High, top stratshadow (Yes everyone know what "indicator is.." but is better for your mind/psychology thing call it "StratShadow", believe me... is better that way and is the reason Strat say that... is a STRATSHADOW thing.) top stratshadow acting as Resistance, LowerHigh for the down..... Making the "theory" of downtrend (Lower Low, Lower High..) , after the Worker made a shooting star and the next days didnt go above of it... Sellers is now in control.

I have to go, everyone have a good weekend.
  • #8,039
  • Oct 27, 2018 12:05pm Oct 27, 2018 12:05pm
USDCAD

This is another interesting pair that I am watching.

Big Boss: Price has been ranging inside the range of the box for the past 8 months. Now Price is at resistance.
Attached Image (click to enlarge)
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Boss: 3 weeks of aggressive buying, followed by the doji on the 26th October.
Attached Image (click to enlarge)
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Worker: Price is clearly in an up swing, but has it ended? We need confirmation. However, if Price is able to close above resistance, it would be an indication the the trend will continue upwards. Or perhaps, we can find some counter-trend trades on H4.
Attached Image (click to enlarge)
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Exercising patience would be my conclusion. I am still waiting for the 'rubber band' effect from the Strat Shadow.
  • #8,040
  • Oct 27, 2018 12:22pm Oct 27, 2018 12:22pm
Quoting TerryDawe
{quote} Price has been ranging between 133 and 125 since March this year so at the moment it is getting to the lower end of that range. The Big Boss is down and closes the middle of next week and currently is in the process of printing a BEEB (however won't be confirmed until that time). There has been strong selling for the past five weeks with price now at pretty strong support. This support area has been used as both support and resistance many times in the past. Last week there was a pause in the selling as indicated by the neutral Boss bar...
Completely agree with you, Terry!
Trading the BOSS Swing I wouldn't think of going long yet.

Quoting MikuSS
{quote} Big Boss: Price has been ranging for at least the past 6 months, trapped between this support and resistance. {image} Boss: Price broke out and closed below Weekly Control Candle. As what Terry has mentioned, the candle that closed on the 19th October was a doji, indicating indecisiveness, but this week's candle was a BEEB, clearly showing the swing down is still intact. We can also look at confirmed swings to get some idea of what the Big Boys might intend to do next. {image} Worker: Ah, the Hammer. Definitely a lot of space to the left,...
Miku, have a look at the swings I made on your BOSS chart. Having that in mind and trading the BOSS swing I wouldn't think of going long as I said to Terry above.
Attached Image (click to enlarge)
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IF IT DOESN'T FEEL RIGHT - IT'S NOT RIGHT!
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