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Strat's PASR Long Term, Stress Free Trading

  • #8,141
  • Oct 31, 2018 9:15am Oct 31, 2018 9:15am
Basic PASR

Quoting Rub
{quote} While you could've traded it on the 4 hour charts, that would've been short. If you're trading the daily chart don't look at anything below that to make your decision, unless you're trying to get a better entry for a worker signal. {quote} I tried to trade the range on USD/JPY but only lost. Starting to lean toward trend trading will be my money maker if I can handle the psychological side of it, as everything else I've been losing money. If anyone took some of those though I congratulate them! {quote} Watch for Price Action at Support or...
I tried to trade the range on USDJPY but only lost.

Show us some trades, Ben, I have difficulty understanding this.
15 YEARS OF PASR ON FOREX FACTORY!
  • #8,142
  • Oct 31, 2018 9:16am Oct 31, 2018 9:16am
Quoting strat
Oanda {quote} Some of my trading pals had problems with Oanda and left. Also, there are negative reviews on forexpeacearmy.com
I am using OANDA chart to paper trade for now. I also just found out that trading forex on OANDA in my country is kind of "illegal" as my country have a law that citizen can only trade forex from certain government certified brokers.

I might switch to XM somewhere in the future for the sake of legal issue. It have better rating as well.
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XM.com also provide "Islamic Account" saying that it will fix the spread no matter the time. Since EoD usually have higher spread, I wonder it would help on those issue. Anyone had any experience on that?
  • #8,143
  • Oct 31, 2018 9:27am Oct 31, 2018 9:27am
PASR THE PATH

Quoting Radhe2209
Quoting strat
PASR THE PATH {quote} Welcome, Scrumy! I have seen you at the bottom of each page for the last few weeks along with the other Lurkers and was wondering if you were ever going to come in out of the cold. Hi Strat and everyone, Just echoing Scrumy! Its been a hectic month down under, but ...i'm also there Strat! Trying to keep up and going through the other thread again.... last time I printed pdf because I can't get to the computer most days and do almost everything on my mobile. Might have to do the same again. Where can I
...
Trying to keep up and going through the other thread again.... last time I printed pdf because I can't get to the computer most days

The pdf (which has now been updated) is ONLY a summary and should only be used to "top up" your PASR knowledge.

do almost everything on my mobile

A SLAVE to your mobile.

In the ""olden"" days we managed very well without them. Maybe ""think"" how you would manage without one and what you would do different.

Where can I find the material from the old subscription link Strat?

Have you checked the attachment to Post 1 of this thread?
15 YEARS OF PASR ON FOREX FACTORY!
  • #8,144
  • Edited 9:58am Oct 31, 2018 9:33am | Edited 9:58am
Malaysian Broker

Quoting huatzhi
{quote} I am using OANDA chart to paper trade for now. I also just found out that trading forex on OANDA in my country is kind of "illegal" as my country have a law that citizen can only trade forex from certain government certified brokers. I might switch to XM somewhere in the future for the sake of legal issue. It have better rating as well. {image} XM.com also provide "Islamic Account" saying that it will fix the spread no matter the time. Since EoD usually have higher spread, I wonder it would help on those issue. Anyone had any experience...
Good lad. Keep on the right side of the Law and all things Legal and never look for ways to avoid taxes, fees and duties. Governments and their Agencies are bigger than us and always get their way in the end.

Since EoD usually have higher spread,

Spreads are always very high immediately after New York close. It may be something to do with maintenance after New York close but I'm not sure. I never trade immediately after New York close and either enter my trades before, or after, when the spreads have returned to normal.
15 YEARS OF PASR ON FOREX FACTORY!
  • #8,145
  • Oct 31, 2018 9:40am Oct 31, 2018 9:40am
PASR THE PATH

Markets are very quiet today although Crude has just spiked up after the inventories announcement so looking for something to do.

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You are on here as often as I am - when are you going to show us what you've got?
15 YEARS OF PASR ON FOREX FACTORY!
  • #8,146
  • Oct 31, 2018 9:44am Oct 31, 2018 9:44am
Quoting huatzhi
{quote} I am using OANDA chart to paper trade for now. I also just found out that trading forex on OANDA in my country is kind of "illegal" as my country have a law that citizen can only trade forex from certain government certified brokers. I might switch to XM somewhere in the future for the sake of legal issue. It have better rating as well. {image} XM.com also provide "Islamic Account" saying that it will fix the spread no matter the time. Since EoD usually have higher spread, I wonder it would help on those issue. Anyone had any experience...
These issues with brokers are endless I think. It seems there are always complaints about everything.
I would suggest to pick one that has alot of customers and "looks" fine. try some withdrawals to check how fast they respond and so on.
And in the end it all comes down to capital preservation and you shouldn't deposit a big piece of your total capital in only one broker, but diversify into many brokers and accounts
  • #8,147
  • Oct 31, 2018 9:56am Oct 31, 2018 9:56am
WTI Crude Oil

Watching what the greasy slimy stuff does after inventories announcement

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15 YEARS OF PASR ON FOREX FACTORY!
  • #8,148
  • Oct 31, 2018 10:13am Oct 31, 2018 10:13am
EURGBP

Wow - there's a novelty.

I don't normally mess with this tortoise but since GBP was being bought as EUR was being sold, thought I had better check it out. So, true to form, by the time I get to my charts, 7:30 am PDT (UK is now in DST so we are 1 hour adrift until this weekend when we move to PST), New York has sold off to support and moved 6 pips (Wow - 6 pips!) into a pull back to the Strat Shadow. Since I might die before PRICE resumes any trend again on this pair I am going to leave these snails racing in the rain (thanks BTS!) to their own devices

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15 YEARS OF PASR ON FOREX FACTORY!
  • #8,149
  • Oct 31, 2018 10:25am Oct 31, 2018 10:25am
Quoting strat
PASR THE PATH Markets are very quiet today although Crude has just spiked up after the inventories announcement so looking for something to do. {image} {image} You are on here as often as I am - when are you going to show us what you've got?
Hi,

Thank you for the observation I am a new trader and have been following you for a while now. To introduce myself I am 25 years old and am living in Dublin with my husband but am originally from Switzerland; I started trading one year ago. Took me some time to read everything, will for sure start posting what I do and questions as I still have a lot to learn!
  • #8,150
  • Oct 31, 2018 10:52am Oct 31, 2018 10:52am
Quoting Scrumy
{quote} Hi to all of you, happy to be here and still quite learning a lot - I guess I haven't read that much in my whole live as I had in the last couple of weeks. I am now crawling out of my lurking hole. So hautzhi - thanks for the analysis. I have just checked it on my charts. Today there is a BEEB forming (but it is not the end of the day). So your trade idea went against us - but the cool thing is, that even if I would have entered, I would have entered above the high of the BUEB - which wouldn't have been triggered, as price did not reach...
Thanks for replying and giving valuable input Strat.

It seems you are a Forex Factory virgin as you have no previous history which is good as your trading brain has not been poisoned by indicators, EAs, black boxes, signals and other "magical" trading crap. Tell us more about yourself and if you are on THE PATH or just popping your head above water to see what it is like.

So I started my THE PATH journey on October 8th, fully committed to reading both threads and also to UNDERSTAND what has been written. I have read about 250 pages on the new thread and 150 pages on the old thread - collecting information, handwriting it down (as handwritten stuff will get into your memory much better). So I am still on my way - still lots of pages ahead of me.

Just some background infos about me: I have started my financial market journey back in May 2016 - actually not in forex, but in crypto. Till the explosion of crypto in May 2017 I haven't traded much - just bought my first BTC (Bitcoin), HODLed them and then started to trade my BTC for the first couple of ETH (Ethereum). Back then I also started reading about trading in general.

I discovered Forex in August 2018 by accident - as I was searching for a crypto exchange, which would offer me to go short (lots of crypto exchanges don't allow to go short, only long!) - shorting in a bear market makes sense, right?

Forex offers me some big advantages compared to crypto:

  1. going long AND short
  2. less fees in Forex (in crypto you pay per trade from 0.1% to 0.25% of your position size - absolutely insane)
  3. leverage/margin

I am not that virgin anymore: have build my own arbitrage bot (shut it down - as another guy was a couple of milliseconds faster than me), then went on to buy another bot with an EMA crossing strategy (which - in hindsight - doesn't make absolutely no sense to me anymore - compounded about 1% gains daily for about a month - AAAAAAND..... you sure guessed it - lost all profits and little bit more). In general I had big profits in crypto - end of story: haven't compounded gains, was greedy and now lost 25% of my account - while I have been up over 100% back in January this year. So I have gained some nice experiences, even if they cost me money at the end. But I see it as my cost for my education (and maybe also cost due to my greediness/dumbness) - the important thing is to reflect what happended and throw away stuff that didn't work and hold onto things that do work.

So, at the beginning I read a lot about Support and Resistance and Price Action. Then left for indicator- and bot-land (or as the forex people say EA - Expert Advisors), burned my fingers and now came back to where I started: PASR. Long intro - sorry for that, but now you know who joined to be at (and sometimes besides) THE PATH .

Before others tell you, you have the messiest screen I have seen for a long time. You need ALL your screen from top to bottom and side to side to get PASR on all our time frames. Your solid SR lines would stop me dead from trading above or below them. Check out huatzhi's charts above yours - see how CLEAN they are.

I have now cleaned my screen to get rid of the mess, I also put less distracting S/R lines onto it. My Screenshot shows all three time frames - if I am working on my chart, I have one of them maximized, drawing S/R which will get reflected on all the other charts as well. I currently still feel the need to have sometimes the chance to see all three timeframes and make my decisions based on the whole picture. Removed the grey fill betwen EMA 72 to EMA 200 as well.

Try again, grasshopper but this time with correct SR!

Is it more like the area at 1.791, between 1.7905 to 1.7920? There most of the closes happened between 19th of June to Mid July.

If you knew the Boss (Weekly) was DOWN, why did you consider long at the BUEB?

This is something I haven't recognized - not seeing the woods because of the trees. So obvious that it almost hurts.

Good to have you here but this has been said many times by Lurkers and those new to trading who joined and then left for ""Indicator Land"" as they looked for ""signals"" from wiggly, squiggly lines as they found THE PATH too hard and too much work.

Thank you, as said I have already been there - don't want to go back. I know that this here is A LOT of work. Thanks again for having this thread, I see it as a real gem here at FF.

Accept the risk!
  • #8,151
  • Oct 31, 2018 11:04am Oct 31, 2018 11:04am
GBPNZD 5M PASR Trend Trading

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Nice PASR Setup. 25 SL. TP 50. Exited earlier.
Entry was very late. Almost hit my SL. TP was my drawn Resistance, but long wicks (see No. 2 inside image) made me leave this trade.

Microlot, hard earned money - otherwise the little people don't come outside.

Around 30 Pips, Yummy yummy ,
Scrumy
Accept the risk!
  • #8,152
  • Oct 31, 2018 11:28am Oct 31, 2018 11:28am
PASR THE PATH

Quoting kimavganim
{quote} Hi, Thank you for the observation I am a new trader and have been following you for a while now. To introduce myself I am 25 years old and am living in Dublin with my husband but am originally from Switzerland; I started trading one year ago. Took me some time to read everything, will for sure start posting what I do and questions as I still have a lot to learn!
Welcome!

Like Scrumy, it seems you are also a Forex Factory virgin as you have no previous history which is good as your trading brain has not been poisoned by indicators, EAs, black boxes, signals and other "magical" trading crap.

I really hope you and Victoria stay the course on THE PATH because female traders have a different logic and perception on trading which we need to balance out the "testosterone" trading we do.

Nicola, (elitejets) was my "foil" and "sounding board" for some of the weird stuff I wanted to introduce into my trading.

I still remember her telling me, after I launched into my Magical Mystery Tour of Cycles - ""there is nothing new in trading - stop trying to re-invent the wheel!" Wise words, Nicola - I miss you.
15 YEARS OF PASR ON FOREX FACTORY!
  • #8,153
  • Oct 31, 2018 11:33am Oct 31, 2018 11:33am
Quoting kimavganim
{quote} Hi, Thank you for the observation I am a new trader and have been following you for a while now. To introduce myself I am 25 years old and am living in Dublin with my husband but am originally from Switzerland; I started trading one year ago. Took me some time to read everything, will for sure start posting what I do and questions as I still have a lot to learn!
Welcome to you on the way!
  • #8,154
  • Oct 31, 2018 11:37am Oct 31, 2018 11:37am
GBPCAD m5

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GBPJPY m5

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GBPNZD m5

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Val
  • #8,155
  • Oct 31, 2018 11:50am Oct 31, 2018 11:50am
EURAUD M5

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Val
  • #8,156
  • Oct 31, 2018 12:08pm Oct 31, 2018 12:08pm
PASR THE PATH

Quoting Scrumy
{quote} Thanks for replying and giving valuable input Strat. It seems you are a Forex Factory virgin as you have no previous history which is good as your trading brain has not been poisoned by indicators, EAs, black boxes, signals and other "magical" trading crap. Tell us more about yourself and if you are on THE PATH or just popping your head above water to see what it is like. So I started my THE PATH journey on October 8th, fully committed to reading both threads and also to UNDERSTAND what has been written. I have read about 250 pages on the...
Thank you for your introduction.

Where does "Scrumy" come from?

collecting information, handwriting it down (as handwritten stuff will get into your memory much better)

That is exactly what I have to do to commit stuff to memory! It drives my Big Boss crazy.

In general I had big profits in crypto - end of story: haven't compounded gains, was greedy and now lost 25% of my account - while I have been up over 100% back in January this year.

I made a killing in BTC and got out after confirmation of the down trend but, re-entered long again after I ""thought"" was the bottom only to lose a similar % as you so that was me DONE with cryptocrap!

Then left for indicator- and bot-land (or as the forex people say EA - Expert Advisors), burned my fingers and now came back to where I started: PASR.

So that shows you are special. Most try PASR and give up when they realise it will take them a lot of hard work and commitment on their part. They "flip flop" on all the indicator threads searching for the Holy Grail which will give them a ""signal"" when their wiggly, squiggly line crosses something. They enjoy short term success but quickly search for another wiggly, squiggly line when it loses more than it makes. They continue "flip flopping"" until they eventually disappear up their own chuff, wounded and BROKE.

Check out this old timer who has, AND STILL IS, "flip flopping" FF and other Forum threads for 12 years!

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I have now cleaned my screen to get rid of the mess, I also put less distracting S/R lines onto it. Removed the grey fill between EMA 72 to EMA 200 as well.

That's a BIG STEP on THE PATH

My Screenshot shows all three time frames

That's OK ""if"" it works for you - I think it is bistolis who does the same thing. Just make sure you have ALL the information when you enlarge one of your minimised screens.

Is it more like the area at 1.791, between 1.7905 to 1.7920? There most of the closes happened between 19th of June to Mid July.

Already explained in detail on my chart in my reply to you. If you don't understand, ask.

This is something I haven't recognized - not seeing the woods because of the trees. So obvious that it almost hurts.

So, this tells me you do not UNDERSTAND PASR and especially my POWER OF TIME FRAMES. It also tells me you may be trying to short cut THE PATH - DON'T!
15 YEARS OF PASR ON FOREX FACTORY!
  • #8,157
  • Oct 31, 2018 12:38pm Oct 31, 2018 12:38pm
GBPNZD M5 PASR Trend Trading

Quoting Scrumy
GBPNZD 5M PASR Trend Trading {image} Nice PASR Setup. 25 SL. TP 50. Exited earlier. Entry was very late. Almost hit my SL. TP was my drawn Resistance, but long wicks (see No. 2 inside image) made me leave this trade. Microlot, hard earned money - otherwise the little people don't come outside. Around 30 Pips, Yummy yummy , Scrumy
So, it seems you have been lured into what seems easy profits on M5 PASR Trend Trading. While you did OK this time, you may not next time.

Around 30 Pips, Yummy yummy

This tells me you have a huge GREED problem which will, if not held in check, will AGAIN (compounded about 1% gains daily for about a month - AAAAAAND..... you sure guessed it - lost all profits and little bit more - lost 25% of my account - cost due to my greediness) be your downfall!

PASR traders KNOW that consistently profitable trading is 95% psychological and KNOW that they have to CONTROL their ""Little People"" and their GREED and FEAR emotions.

lost 25% of my account

This tells me two more things:

You do not understand our No. 1 Rule

You have NO trade and money management!

Nice PASR Setup. 25 SL. TP 50. Exited earlier.

This tells me you HAVE been lured into what seems easy profits on M5 PASR Trend Trading

Had you read and understood my M5 PASR Trend Trading strategy, you would KNOW that we do NOT trade with huge stop losses!

Entry was very late.

Your entry was EARLY!

That was a BOND Hammer you entered on!

You could have entered on a breakout of resistance - a CLOSE above my blue line

or,

PATIENTLY WAIT for PASR at A or B.

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Almost hit my SL.

Had you UNDERSTOOD my M5 PASR Trend Trading strategy, your Stop Loss would have been hit for such an entry.

TP was my drawn Resistance, but long wicks (see No. 2 inside image) made me leave this trade.

Your exit was good.

Microlot, hard earned money - otherwise the little people don't come outside.

Good, BUT understand Basic PASR before PASR Swing Trading before PASR Trend Trading

TIP: One lucky M5 trade does not mean you UNDERSTAND PASR
15 YEARS OF PASR ON FOREX FACTORY!
  • #8,158
  • Oct 31, 2018 12:52pm Oct 31, 2018 12:52pm
GBPCAD, GBPJPY, GBPNZD and EURAUD M5 PASR Trend Trading

Quoting fxmarvel
GBPCAD m5 {image} GBPJPY m5 {image} GBPNZD m5 {image}
Very good. Is this paper trading or REAL hard earned money trading at the MOVING HARD RIGHT EDGE?

Your GBPCAD was a LATE entry and you would have been stopped out if you were following my PASR Trend Trading strategy.

Your EURAUD was a LATE entry

So, I am sure others are going to ask you, "How do you manage to trade 4 M5 pairs at the same time?
15 YEARS OF PASR ON FOREX FACTORY!
  • #8,159
  • Oct 31, 2018 1:22pm Oct 31, 2018 1:22pm
Quoting strat
GBPCAD, GBPJPY, GBPNZD and EURAUD M5 PASR Trend Trading {quote} Very good. Is this paper trading or REAL hard earned money trading at the MOVING HARD RIGHT EDGE? Your GBPCAD was a LATE entry and you would have been stopped out if you were following my PASR Trend Trading strategy. Your EURAUD was a LATE entry So, I am sure others are going to ask you, "How do you manage to trade 4 M5 pairs at the same time?
Is this paper trading or REAL hard earned money trading at the MOVING HARD RIGHT EDGE?
yes, always real money.

Your GBPCAD was a LATE entry and you would have been stopped out if you were following my PASR Trend Trading strategy. Your EURAUD was a LATE entry So, I am sure others are going to ask you, "How do you manage to trade 4 M5 pairs at the same time?

It didn't seem hard to manage simultaneously these trades at the time but it appears I should scale down and focus on better entries/exits... maybe my level is not there yet.

Thank you Strat!
Val
  • #8,160
  • Oct 31, 2018 1:33pm Oct 31, 2018 1:33pm
Quoting strat
GBPCAD, GBPJPY, GBPNZD and EURAUD M5 PASR Trend Trading {quote} Very good. Is this paper trading or REAL hard earned money trading at the MOVING HARD RIGHT EDGE? Your GBPCAD was a LATE entry and you would have been stopped out if you were following my PASR Trend Trading strategy. Your EURAUD was a LATE entry So, I am sure others are going to ask you, "How do you manage to trade 4 M5 pairs at the same time?
This is called over-trading Sir.........


Happy Trading,
Yomi.
Time always comes before price
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