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Strat's PASR Long Term, Stress Free Trading

  • #8,261
  • Edited 4:23am Nov 2, 2018 4:11am | Edited 4:23am
Quoting Scrumy
Hello all, I have a question regarding your TRADE MANAGEMENT in MT4. Let me know, if this is OFF TOPIC and shouldn't be in this thread. If I have multiple chart windows open, then I face on big problem: the chart window where I did my analysis and draw my SR lines DO NOT appear on another window. That is the reason why I used to do my analysis in Tradingview - as the lines just persist. I also recognized the issue, that when I close my chart window where I did the analysis - everything is gone - I need to draw my SR lines again. That is time consuming...
Hi Scrumy,

Why don't you save your lines in a template for each pair and just load it whenever you need?

In my case I followed the next approach some time ago:

1) I created as many profiles as pairs I followed
2) I added the three main charts: WORKER, BOSS and BIGBOSS for each profile
3) Within each profile, I picked one of those charts and set S&R going from BIGBOSS to WORKER to fine tune the levels
4) I replicated those level for all of the three charts (sometimes I also added H4 chart) saving the template and loading it in the others ones.

Hope it helps otherwise let me know and I'll try to help you out
IF IT DOESN'T FEEL RIGHT - IT'S NOT RIGHT!
  • #8,262
  • Nov 2, 2018 4:48am Nov 2, 2018 4:48am
Quoting Suran
{quote} that when I close my chart window where I did the analysis - everything is gone - I need to draw my SR lines again. I don't think you have any other option available. This is MT4. you need to draw S/R lines again.
Suran, thanks for your input. All I can say to that is: OHHH NOOOOOO! Makes me sad. I really hate when work needs to be done over and over again.

Quoting Eurotrader17
{quote} Hi Scrumy, Why don't you save your lines in a template for each pair and just load it whenever you need? In my case I followed the next approach some time ago: 1) I created as many profiles as pairs I followed 2) I added the three main charts: WORKER, BOSS and BIGBOSS for each profile 3) Within each profile, I picked one of those charts and set S&R going from BIGBOSS to WORKER to fine tune the levels 4) I replicated those level for all of the three charts (sometimes I also added H4 chart) saving the template and loading it in the others...
Eurotrader17, thank you as well. That process seems to be too complex for me. There is so much overhead in always saving templates etc. that it would make me angry - which would have side effects on my trading brain. I guess I just have to live with the approach to scan my pairs (5M Trend Trading):

1. Use Tradingview, switch through pairs by just pressing the spacebar (a HUGE advantage compared to MT4)
2. if I found a POSSIBLE SETUP on a pair
3. SWITCH to MT4
4. draw my SR lines
5. take Screenshot
6. paste Screenshot + trade informations (SL/TP/Size/Feelings/Observations/Reasons to enter) in my digital Kanban Board (where I also use tags for all the Setups like Profit/Loss/Cancelled/Analyzed etc.)

So if anything goes wrong and my SR lines and other drawings disappear - I have still that saved image with the SR lines on it which I can then refer to.
I try to keep my MT4 as simple as possible and minimal stuff going on in there as I find it pretty unusable (like the order of pairs in the market watch is not persisting - means pairs switch positions (based on random conditions, maybe the weather?! jk ), not having the ability to draw stuff on one timeframe chart window which then gets reflected to other time frames (possible with EAs but then MT4 gets slow as hell) - enough moaning.

I will keep you updated about my journey about a nice PROCESS for my TRADE MANAGEMENT.
Accept the risk!
  • #8,263
  • Nov 2, 2018 4:49am Nov 2, 2018 4:49am
Quoting Eurotrader17
{quote} Hi Scrumy, Why don't you save your lines in a template for each pair and just load it whenever you need? In my case I followed the next approach some time ago: 1) I created as many profiles as pairs I followed 2) I added the three main charts: WORKER, BOSS and BIGBOSS for each profile 3) Within each profile, I picked one of those charts and set S&R going from BIGBOSS to WORKER to fine tune the levels 4) I replicated those level for all of the three charts (sometimes I also added H4 chart) saving the template and loading it in the others...
MT4 is just poorly designed for multiple charts at the same time, unfortunately. TradingView is much better, but it is restricted on broker data, since only a couple of them are available, one of them is Oanda, which has data starting only from 2003. Oh, and you cannot use multiple charts at the same time without buying the premium membership I believe. There are many other limitations for free users, that limits the tools that you can use. I would rather become profitable and then buy additional tools rather than buy tools before making money from the markets.
  • #8,264
  • Edited 5:19am Nov 2, 2018 5:02am | Edited 5:19am
Quoting Scrumy
{quote} Suran, thanks for your input. All I can say to that is: OHHH NOOOOOO! Makes me sad. I really hate when work needs to be done over and over again.....

Hi Scrumy,

Yes , it's a headache to do the work over and over. but what Eurotrader suggested is also a option. But you need to be careful with that. Because you might forget to save the new S/R lines in to new template and might load the old S/R lines to the current trading chart. which makes your S/R line are not correct for the today's chart.

But then again a question arises to me (if you trading 5M charts) ..why do you want to close the chart and open a new chart? My M5 charts are there all the time(saved to profile). I clears my old S/R lines at the day's start and putting new S/R lines every day.

Suranga
Focus, Patience, Discipline, Determination and Perseverance
  • #8,265
  • Nov 2, 2018 5:04am Nov 2, 2018 5:04am
USDCAD M5 PASR Trend Trading

Attached a trade that resulted in a LOSS.

Nice trend, see Strat Shadow.
I entered below the BEEB and below the lowest low of all that consolidation.
SL of 10 Pips just above the BEEB - and above most of the highs in that consolidation.
TP about 25 pips away on next SR.

Lessons Learned:
- if there is a scrumy CONSOLIDATION around SR (), just DON'T ENTER - search for OTHER, BETTER setups
- look how the trend lines are almost the same as the 20 EMA

I will keep posting my LOSS trades as well - because I also want to show the that NOT every trade is a WINNER. And also to document the progress on THE PATH for myself and also the upcoming traders at this thread.

I would also like to ask, if the more advanced traders could also post their LOSS trades, not only their WINNERS.

Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD M5.png Size: 71 KB
Accept the risk!
  • #8,266
  • Nov 2, 2018 5:55am Nov 2, 2018 5:55am
Quoting Scrumy
USDCAD M5 PASR Trend Trading Attached a trade that resulted in a LOSS. Nice trend, see Strat Shadow. I entered below the BEEB and below the lowest low of all that consolidation. SL of 10 Pips just above the BEEB - and above most of the highs in that consolidation. TP about 25 pips away on next SR. Lessons Learned: - if there is a scrumy CONSOLIDATION around SR (), just DON'T ENTER - search for OTHER, BETTER setups - look how the trend lines are almost the same as the 20 EMA I will keep posting my LOSS trades as well - because I also want to...
Hi Scrumy,

That was definitely a late entry. You entered on a candle that PASR traders will exit their sell trade.

If anyone else hasnt explained your entry tonight, post my explanation when I'm back home, can't do any charts when I'm outside.

Regards,
Miku,
  • #8,267
  • Edited 7:18am Nov 2, 2018 6:59am | Edited 7:18am
Quoting Scrumy
{quote} Suran, thanks for your input. All I can say to that is: OHHH NOOOOOO! Makes me sad. I really hate when work needs to be done over and over again. {quote} Eurotrader17, thank you as well. That process seems to be too complex for me. There is so much overhead in always saving templates etc. that it would make me angry - which would have side effects on my trading brain. I guess I just have to live with the approach to scan my pairs (5M Trend Trading): 1. Use Tradingview, switch through pairs by just pressing the spacebar (a HUGE advantage...
Hi Scrumy,

These scripts might do the job, copy and pasting between charts. I used to use them when I want to update my MT4 template. Not anymore since I redraw my SR most of the time to suit what happened that particular time on my chart.

Note that even though both data feed coming from OANDA, they are practically two different chart. You could see a lot of varies between them. I think it is better to stick with one of them rather than switching between two.

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 401 KB


----

Edit: You can also set up your profile base on each currency if you like, switching to next profile with Ctrl+F5. When done setup, it might work like you using space on tradingview.
  • #8,268
  • Nov 2, 2018 7:06am Nov 2, 2018 7:06am
Quoting strat
AUDCAD {quote} Can i ask, if u have any long entry in AUDCAD? If yes, can you show me please? No, but if I did, I would Swing trade it from the Boss no different to how I would trade any other pair. In accordance with my PASR Swing Trading strategy, I would determine the end of the down swing/beginning of a new up swing on the Boss (Weekly) and transfer this to the Worker (Daily) and enter my buy stop a few pips above the blue candle on the Worker. i want to know where you entry for learning Remember, we, as humans, are unique as is our trading...
Strat, you said " In accordance with my PASR Swing Trading strategy, I would determine the end of the down swing/beginning of a new up swing on the Boss (Weekly) and transfer this to the Worker (Daily) and enter my buy stop a few pips above the blue candle on the Worker."

While I was studying your enclosed chart and pondering what you just said, a question came to my mind. When the weekly was confirmed, the swing low for entry should be at least more than 6 days after your blue candle on the worker as we need to wait for the weekly to close. We then wait for the next swing low to enter the buy trade.

Please let me know if I am wrong.

Thank you.

Corinna
  • #8,269
  • Nov 2, 2018 7:12am Nov 2, 2018 7:12am
Quoting MikuSS
{quote} Hi Scrumy, That was definitely a late entry. You entered on a candle that PASR traders will exit their sell trade. If anyone else hasnt explained your entry tonight, post my explanation when I'm back home, can't do any charts when I'm outside. Regards, Miku,
Hi Miku, thanks for your input. I guess you are talking about the lowest candle. But my signal candle was three candles before. I think If I had already a position I would already have locked in some profit at the support, and - maybe - would have locked in further profit on that BUEB candle.

The BUEB right after the lowest candle was no reason for me to exit directly - I accepted the risk on this trade.

Attached a screenshot of my signal candle and some further explanation, why I entered the trade:
- BEEB
- break of Support

Attached Image
Accept the risk!
  • #8,270
  • Nov 2, 2018 7:26am Nov 2, 2018 7:26am
Quoting Scrumy
USDCAD M5 PASR Trend Trading Attached a trade that resulted in a LOSS. Nice trend, see Strat Shadow. I entered below the BEEB and below the lowest low of all that consolidation. SL of 10 Pips just above the BEEB - and above most of the highs in that consolidation. TP about 25 pips away on next SR. Lessons Learned: - if there is a scrumy CONSOLIDATION around SR (), just DON'T ENTER - search for OTHER, BETTER setups - look how the trend lines are almost the same as the 20 EMA I will keep posting my LOSS trades as well - because I also want to...
Hi
I am very busy with work this week.
about your trade. I suggest you draw recent SR from 4h and 1h before entering. you will see that you entered around SR
  • #8,271
  • Nov 2, 2018 7:31am Nov 2, 2018 7:31am
Quoting Svolacius
{quote} MT4 is just poorly designed for multiple charts at the same time, unfortunately. TradingView is much better, but it is restricted on broker data, since only a couple of them are available, one of them is Oanda, which has data starting only from 2003. Oh, and you cannot use multiple charts at the same time without buying the premium membership I believe. There are many other limitations for free users, that limits the tools that you can use. I would rather become profitable and then buy additional tools rather than buy tools before making...
Hey Svolacius, thanks for your answer. As I already have a premium membership, I will do it the other way round . TV helps me at my current stage a lot to scan through the pairs, just by using shortcuts (Spacebar, Alt+Enter to add the pair to my watchlist etc.) and having multi timeframe and also while drawing objects they get reflected on all other timesframes/chart windows on that pair. As soon as a tool adds value to my process I am willing to pay, which TV currently does to me.
Accept the risk!
  • #8,272
  • Edited 7:56am Nov 2, 2018 7:43am | Edited 7:56am
Quoting Scrumy
USDCAD M5 PASR Trend Trading Attached a trade that resulted in a LOSS. Nice trend, see Strat Shadow. I entered below the BEEB and below the lowest low of all that consolidation. SL of 10 Pips just above the BEEB - and above most of the highs in that consolidation. TP about 25 pips away on next SR. Lessons Learned: - if there is a scrumy CONSOLIDATION around SR (), just DON'T ENTER - search for OTHER, BETTER setups - look how the trend lines are almost the same as the 20 EMA I will keep posting my LOSS trades as well - because I also want to...

Some of us has some considerable experience in trading so we will not be taking just any how trades...............and by so doing we will only have limited losses.


My takes on your USDCAD trade:

1. your entry is late.

2. Always trade trending pairs. Limit yourself to Strat's Top10 volatility list for M5 trading.

3. You need TREND to trade trending system like Strat's M5 PASR Trend Trading Strategy and not consolidation.


This is what I normally do:

I look for a new trend in the form of Impuse move and I wait for the first pullback and then trigger a trade once price resumes it's move in the direction of the original impulse move once it has taken out the previous high or low.........all this become very easy through the Strat Shadow.



See the attached chart.



Happy Trading,
Yomi.
Attached Image (click to enlarge)
Click to Enlarge Name: USDCADM5.png Size: 32 KB
Time always comes before price
  • #8,273
  • Nov 2, 2018 8:09am Nov 2, 2018 8:09am
Quoting HappyTrend
{quote} Studyng this haha i cant imagine buy in there, but obviously i need much more experience of i can see that. But studyng it, the BOSS was still in DOWN SWING isnt? Yes in a Support Zone of BigBoss but BOSS still was in a DownSwing. After 2 weeks that was the Confirm Swing and going UP. How you determine what candle you place the buy stop on Worker with the BOSS SWING Down ?
The Boss swing low was confirmed as indicated by the attached chart
Attached Image (click to enlarge)
Click to Enlarge Name: audcadweekly.PNG Size: 44 KB
  • #8,274
  • Nov 2, 2018 8:20am Nov 2, 2018 8:20am
Quoting landax
Paper Trade in Live Still on GBP/CAD, BB (daily): Buyers are present, big bullish candle yesterday, which closed just above the Stratshadow but not much {image} B (H4): The price is currently supported by a resistance by forming a hammer, but it is not hammer as long as the candle is not closed, descend on H1 {image} W (H1): Price has formed a beautiful BUEB at the Stratshadow, however the price has closed at the level of the Resistance BRN 1.70, it is risky to buy at the level of resistance but the loss is minimal so my little people accept it,...
Hi landax,

There was a Shooting Star on your boss, and the hammer has not yet closed. Is ok to entry there I think, but you might give a bit space from your swing low, like a couple pips.
  • #8,275
  • Nov 2, 2018 8:43am Nov 2, 2018 8:43am
Quoting Corinna
{quote} Strat, you said " In accordance with my PASR Swing Trading strategy, I would determine the end of the down swing/beginning of a new up swing on the Boss (Weekly) and transfer this to the Worker (Daily) and enter my buy stop a few pips above the blue candle on the Worker." While I was studying your enclosed chart and pondering what you just said, a question came to my mind. When the weekly was confirmed, the swing low for entry should be at least more than 6 days after your blue candle on the worker as we need to wait for the weekly to close....
Hi Corinna,

In my understanding, for swing PASR, after swing low is confirmed, any further PA in bullish direction could be taken as entries or add-ons, just the stop loss might be a bit wider. It would be like Dr Joe said, keep buying as it is going up, until it stop going up, that's when you might lose a trade or two.

Though I did not practice swing PASR myself, so I could be very wrong.
  • #8,276
  • Nov 2, 2018 9:10am Nov 2, 2018 9:10am
Quoting TerryDawe
{quote} The Boss swing low was confirmed as indicated by the attached chart {image}
Yes, i know that.

But look again what strat answer me... look where is his entry if He were trading it. I think is a pure PASR. The first sign in a support/resistance zone or i dont know.
  • #8,277
  • Nov 2, 2018 9:36am Nov 2, 2018 9:36am
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.
Anyone take this?

Attached Image (click to enlarge)
Click to Enlarge Name: GBPCADH4.png Size: 66 KB
Private Msgs are turned off to weirdos, loafs and brain drainers
  • #8,278
  • Edited 10:26am Nov 2, 2018 9:41am | Edited 10:26am
AUDCAD

Quoting landax
{quote} Good evening Strat I have a question about your answer to HappyTrend, On my chart, when you take your entry, the swing low is not yet confirmed on the boss {image} {image} So if I understand you're taking this entry with your trading style and risk tolerance thank you for your response
I was afraid this would happen. My strategy of trading the Boss Swing on the Worker is an advanced strategy that I have taught to a few on here but even then, I don't think they really understand it.

I only use confirmation of the Boss Swing to manage my trades on the Worker. Once I have this confirmation, I adjust my position sizing and increase my Add On trades.

Attached Image (click to enlarge)
Click to Enlarge Name: a.PNG Size: 65 KB


These 2 candles on the Boss shout out loud and clear ""EXHAUSTION"" so I base my Boss Swing off that exhaustion candle. From then on it is all about Money Management UNTIL I get CONFIRMATION of the Boss Swing.

I will not go into this in further detail because it will only confuse those learning all the strategies in PASR. Master those 3 strategies and how I trade the Boss Swing on the Worker will become evident.
15 YEARS OF PASR ON FOREX FACTORY!
  • #8,279
  • Nov 2, 2018 9:42am Nov 2, 2018 9:42am
Quoting landax
Hi everyone I just analyzed GBPCAD and it is interesting to see on the daily graph, the range in which the price is negotiated between 1.71 and 1.66 each time price stops at the support or resistance I put a little arrow See Photo: {image} {image} Now we go down on H4, on this graph we see the price react, and above all form swings low and swing high confirmed see photo: {image} And now I go down on H1: What do I see? Beautiful trend with the StratShadow with different inputs possible, each entry and exit depending on the style of trading and the...
That's more or less exactly what I do, well spotted and keep doing more of it. Especially at weekends when the markets are closed so you don't get tempted without a plan.

Look on all time frames to accelerate your learning.

The beauty of Strat's method is that there is normally always a valid set up lining up depending on your own criteria.
Private Msgs are turned off to weirdos, loafs and brain drainers
  • #8,280
  • Nov 2, 2018 9:45am Nov 2, 2018 9:45am
Quoting strat
AUDCAD {quote} I was afraid this would happen. My strategy of trading the Boss Swing on the Worker is an advanced strategy that I have taught to a few on here but even then, I don't think they really understand it. I only use confirmation of the Boss Swing to manage my trades on the Worker. Once I have this confirmation, I adjust my position sizing and increase my Add On trades. {image} These 2 candles on the Boss shout out loud and clear ""EXHAUSTION"" so I base my Boss Swing off that exhaustion candle. From then on it is all about Money Management...
Thank you, one last thing hehe. In there, where is your stop loss? bellow of that "hammer" on worker? or just wait worker candles and if close bellow of it, close it manually?
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