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Strat's PASR Long Term, Stress Free Trading

  • #8,181
  • Oct 31, 2018 11:35pm Oct 31, 2018 11:35pm
Quoting strat
Basic PASR {quote} I tried to trade the range on USDJPY but only lost. Show us some trades, Ben, I have difficulty understanding this.
Here you go. I did the classic buying into resistance both times, then compounded it by letting it run to my stop loss. Same dopey mistakes I keep making.
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  • #8,182
  • Nov 1, 2018 1:26am Nov 1, 2018 1:26am
Quoting huatzhi
GBPCAD BB {image} Last month closed as a BUOB, also a doji. Doji tells the market indecision/seller buyer equilibrium so I would not says that it is an effective BUOB. Support 1.592 being tested twice. B {image} It did not really make a good LL or HH since August 12th week. Price is ranging for now. Long lower wick that retest 1.66 means that buyer fight to keep this support, also indicate that end of swing low between this small ranging trade. Seller fail to push price down to 1.6 BRN. W {image} BUOB reacted to SR 1.664 that is supported the price...
While you've clearly got a plan are you sure you want to buy against last week's down candle? It's quite strong selling....
Quoting huatzhi
GBPUSD BB {image} BEEB last month. Note that I would still consider the hammer on August valid, because I cannot see why it isn't yet. Immediate trend is down. Momentum is down. What Svolacius point out is right. However, I am still on paper trade and only focusing on getting the Basic PASR and Classic PASR right before moving on considering the others. B {image} Immediate trend is still down. This is only the 2nd times that price on SR, anything could happen. W {image} BUOB. Not the most effective BUOB as the long upper wick means seller might...
Yes, that Bullish engulfing candle would have me hesitating as well. It looks a lot like sellers have stepped in and pushed price back down before the close of play. While it's at a support level I want to see much better price action to enter, or maybe dropping down to four hour for one.
  • #8,183
  • Nov 1, 2018 1:45am Nov 1, 2018 1:45am
If you don't have a script to calculate and rank volatility on the fly an useful tool can be found here
https://www.mataf.net/en/forex/tools/volatility
Val
  • #8,184
  • Nov 1, 2018 2:08am Nov 1, 2018 2:08am
Quoting strat
GBPUSD M15 PASR Trend Trading: {quote} Thanks Yomi. I'm surprised you didn't add on at the pull back to the Strat Shadow near my white line. I can only think it is a time constraint with your work schedule. {image}
This post and the sore thumb post, helped me immensely, thank you. It taught me patience, the sets ups are inexorable.
  • #8,185
  • Nov 1, 2018 2:13am Nov 1, 2018 2:13am
Quoting pippoacher
{quote} This post and the sore thumb post, helped me immensely, thank you. It taught me patience, the sets ups are inexorable.
Real gems, but also see this
Val
  • #8,186
  • Nov 1, 2018 3:00am Nov 1, 2018 3:00am
Quoting Rub
{quote} Here you go. I did the classic buying into resistance both times, then compounded it by letting it run to my stop loss. Same dopey mistakes I keep making. {image}
Hi Rub,

Just like someone else in the previous few pages (I can't remember who, but he posted a Daily chart), you are missing a zone.

In addition, the pair was ranging with no trend, so the odds are against us.

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Regards,
Miku
  • #8,187
  • Nov 1, 2018 4:45am Nov 1, 2018 4:45am
Quoting huatzhi
GBPCAD BB {image} Last month closed as a BUOB, also a doji. Doji tells the market indecision/seller buyer equilibrium so I would not says that it is an effective BUOB. Support 1.592 being tested twice. B {image} It did not really make a good LL or HH since August 12th week. Price is ranging for now. Long lower wick that retest 1.66 means that buyer fight to keep this support, also indicate that end of swing low between this small ranging trade. Seller fail to push price down to 1.6 BRN. W {image} BUOB reacted to SR 1.664 that is supported the price...
GBPCAD

Hi Huatzhi

Good analysis. My take on this is:

Big Boss

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Boss

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Worker

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Split orders and break evens have never worked out for me when trading real cash. I'm interested in your trade management, keep us posted on your findings.
Private Msgs are turned off to weirdos, loafs and brain drainers
  • #8,188
  • Nov 1, 2018 5:08am Nov 1, 2018 5:08am
USD CAD M1 Bootcamp

Beautiful bearish trend on USDCAD in M1, 10 pips in 20 minutes to train and maintain my brain at the PASR

Before :
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After :
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  • #8,189
  • Nov 1, 2018 5:12am Nov 1, 2018 5:12am
Quoting fxrabbi
{quote} Yes, I normally scan through the Strat top10 volatility list to trade M5 PASR Trend Trading Strategy in order to avoid over-trading and this really helps me to focus on most trending pairs. Once I have my daily target of 50pips per day, I'm done for that day. I guess 28pairs is too much for M5 trading, this is so because it will affect you being FOCUS...... Well done. Happy Trading, Yomi.
Thanks for the reply! Yesterday I eliminated all CHF pairs and picked between (AUD or NZD) XXX pair as they more together. I will narrow my list further today.
Successful people do what unsuccessful people are not willing to do
  • #8,190
  • Nov 1, 2018 5:17am Nov 1, 2018 5:17am
Quoting strat
PASR M5 PASR Trend Trading {quote} If you are on THE PATH you can ask as many questions as you want Do you have a limit on the number of M5 trades you will trade at the same time? No BUT that is me and I have considerable trading experience. For all others, ""IF"" they want to be consistently profitable they should follow Yomi's advice: {image} {image}
I will narrow down my M5 watchlist today.

Thanks!
Successful people do what unsuccessful people are not willing to do
  • #8,191
  • Nov 1, 2018 5:47am Nov 1, 2018 5:47am
Quoting TampaFX
{quote} I will narrow down my M5 watchlist today. Thanks!
I was facing the same issue to be overwhelmed by all the 28 pairs. So here is what I did. I have limited my M5 list to just 4 pairs (GBPNZD, EURAUD, USDJPY and EURUSD). Setups will also appear on that limited list - and you are not constantly switching charts and getting mad of missing setups on other pairs.

While still learning PASR - there is enough to consider and having too much pairs to watch increases stress, which is totally useless at that moment. So I recommend to throw away some pairs, concentrate on a few ones and improve and look for setups on those.
Accept the risk!
  • #8,192
  • Nov 1, 2018 5:51am Nov 1, 2018 5:51am
Quoting fxrabbi
{quote} Thank you for your guidance here. I don't normally do add-on as part of my trading rules and discipline. Once I have 50pips of 1 or 2 standard lots per day I'm always HAPPY........then it becomes Happy Trading. Happy Trading, Yomi.
That is such a good mindset. Simple rules and the right attitude - perfect combination, thanks for sharing Yomi.
Accept the risk!
  • #8,193
  • Nov 1, 2018 6:06am Nov 1, 2018 6:06am
Quoting Rub
{quote} Here you go. I did the classic buying into resistance both times, then compounded it by letting it run to my stop loss. Same dopey mistakes I keep making. {image}
I agree with MikuSS. Ranging Price Action on H4 does not give us any higher probability, only a fact that the Buyers and Sellers are just pushing the price around with no intent to move it further than the range. I guess M5 could work in such situations but again, I do not trade M5, so I may be wrong.

As of now, we see that the price managed to go BEYOND the range - there is a higher buying pressure right NOW. At the moment of writing price was rejected at the next Resistance and stopped right at SS, which could give us an entry for long now.

Going back to your entry, that large Shooting Star could tell us what happened between Sellers and Buyers, so you could've entered with a long again or waited for that large BUEB to confirm that Buyers are buying USD heavily to push the price higher and enter there.

I still make these mistakes too but as we learn and gain experience from thousands of charts, everything starts to click into place. All we have to do is learn from our mistakes, so there will be less and less chances to repeat them.

You can do it, Rub!
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  • #8,194
  • Nov 1, 2018 6:14am Nov 1, 2018 6:14am
Quoting strat
PASR THE PATH {quote} 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...
Welcome on board, Scrumy!

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.

I think it was me who posted that approach (post 7763), but getting rid of it lately as I usually focus more (during weekdays) on Weekly, H4 and H1 when trading the worker so I still have those profiles loaded with our 3 times frames charts each but just focusing and using one.
IF IT DOESN'T FEEL RIGHT - IT'S NOT RIGHT!
  • #8,195
  • Nov 1, 2018 6:24am Nov 1, 2018 6:24am
Quoting landax
USD CAD M1 Bootcamp Beautiful bearish trend on USDCAD in M1, 10 pips in 20 minutes to train and maintain my brain at the PASR Before : {image} After : {image}
It's like shelling peas some days!
Private Msgs are turned off to weirdos, loafs and brain drainers
  • #8,196
  • Edited 8:32am Nov 1, 2018 6:30am | Edited 8:32am
Quoting BeyondTheSea
{quote} GBPCAD Hi Huatzhi Good analysis. My take on this is: Big Boss {image} Boss {image} Worker {image} Split orders and break evens have never worked out for me when trading real cash. I'm interested in your trade management, keep us posted on your findings.
Hi Huatzhi and BTS! Thanks for your analysis!
This pair also caught my eye but I rejected to get in as I have an immediate resistance at 1.69ish, also saw that price is still in a BOSS Swing Down and didn't like last doji in BIGBOSS

So I'll wait to see how price behave around 1.69 resistance

BOSS
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WORKER
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IF IT DOESN'T FEEL RIGHT - IT'S NOT RIGHT!
  • #8,197
  • Edited 11:43pm Nov 1, 2018 7:57am | Edited 11:43pm
Quoting brian661
start my work before the sun rise and end my work after my dinner in the last 2 weeks, as a Japanese programmer... Finally I completed my task at 5a.m. this morning and back to analysis after a sleep. EURNZD Monthly : the price is rejejected by the support and the 200EMA last and this month Weekly : Confirmed string high on resistance Daily : Long tail candle show rejection at strat shadow Plan : Look for short if tomorrow the end of month candle closed below the previous month low {image} {image} {image} Missed for ~40pages of the thread and need...
The monthly candle close nicely below the previous low.
So I wait and found a nice entry as shown with the blue arrow.
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While I am wondering where should I target, should I just take profit as it is going to touch the support and 200EMA?
(Although I believe PASR trader will say if there is a PA show on my first support, then we should exit.)
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I ask above question because another trade on GNZNZD yesterday.
I sell because I saw rejection on Big boss and strong bearish candle on Boss.
I enter the trade nice at H4, but after around +250pips, the price start going back and finally I got out at break even.
If I see the Daily chart, the price was reverted in 1 candles
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  • #8,198
  • Nov 1, 2018 8:09am Nov 1, 2018 8:09am
Quoting Svolacius
{quote} I agree with MikuSS. Ranging Price Action on H4 does not give us any higher probability, only a fact that the Buyers and Sellers are just pushing the price around with no intent to move it further than the range. I guess M5 could work in such situations but again, I do not trade M5, so I may be wrong. As of now, we see that the price managed to go BEYOND the range - there is a higher buying pressure right NOW. At the moment of writing price was rejected at the next Resistance and stopped right at SS, which could give us an entry for long...
USD/JPY H4

I see that price is stuck in a range of 20 pips since last night

Many wicks under the last five candles which means that buyers are close to buying at this level there, there is some buying pressure but however 113 BRN resistance is close so I think I would take only a position if a hammer or Bueb could is closing above 113 BRN.

But in view of the weekly resistances close enough, the R:R would not be very good so I will pass my turn on this one

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  • #8,199
  • Nov 1, 2018 8:26am Nov 1, 2018 8:26am
Quoting brian661
{quote} The monthly candle close nicely below the previous high. So I wait and found a nice entry as shown with the blue arrow. {image} While I am wondering where should I target, should I just take profit as it is going to touch the support and 200EMA? (Although I believe PASR trader will say if there is a PA show on my first support, then we should exit.) {image} I ask above question because another trade on GNZNZD yesterday. I sell because I saw rejection on Big boss and strong bearish candle on Boss. I enter the trade nice at H4, but after around...
While I am wondering where should I target, should I just take profit as it is going to touch the support and 200EMA?
(Although I believe PASR trader will say if there is a PA show on my first support, then we should exit.)

You should be answering that question to yourself BEFORE you open a trade. Such questions MUST be answered in your trading journal and included in your Trading Plan. I personally also have a position open at the moment and planning to partially close it at the EOD, since that was my plan before I entered couple of days ago.
  • #8,200
  • Nov 1, 2018 8:32am Nov 1, 2018 8:32am
Quoting brian661
{quote} The monthly candle close nicely below the previous high. So I wait and found a nice entry as shown with the blue arrow. {image} While I am wondering where should I target, should I just take profit as it is going to touch the support and 200EMA? (Although I believe PASR trader will say if there is a PA show on my first support, then we should exit.) {image} I ask above question because another trade on GNZNZD yesterday. I sell because I saw rejection on Big boss and strong bearish candle on Boss. I enter the trade nice at H4, but after around...
Your first entry on EURNZD is good, the management of trade depends on the personality of each there is no precise rules but you could enclose one of the 200 ema of the worker and the rest a break-even.

However, the target 1.65 seems unrealistic for this trade the most realistic would be 1.70 I think, after this is just my simple opinion

Then for GBPNZD, your entry below resistance 1.96, good also and the WCC on my card.
The important thing is to be left without loss, it is true that on my card I didn't have this resistance too. But for the next time you should pay attention to the doji to long lock that indicates the presence of buyer and therefore a possible retracement.
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