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Strat's PASR Long Term, Stress Free Trading

  • #8,281
  • Nov 2, 2018 9:52am Nov 2, 2018 9:52am
GBPCAD

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...
Thank you Radhe and Rub for your comments - TRADERS HELPING TRADERS

Very good observation and thank you for bringing this example to the attention of those on here who are interested. BUT, this is only one example of one pair - this happens across all pairs. This is PASR!

So, instead of just seeing the ""beauty"" of PASR, ask yourself why is this and what is happening at these levels and why?
15 YEARS OF PASR ON FOREX FACTORY!
  • #8,282
  • Nov 2, 2018 10:00am Nov 2, 2018 10:00am
AUDCAD

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 ?
but obviously i need much more experience of i can see that.

Not just you but I think everyone on here. Stay on THE PATH and become an expert in PASR and you will begin to see further.

Hint: Understand my Power of Time Frames - REALLY UNDERSTAND from top to bottom and side to side.
15 YEARS OF PASR ON FOREX FACTORY!
  • #8,283
  • Nov 2, 2018 10:19am Nov 2, 2018 10:19am
PASR Candles

Quoting huatzhi
{quote} Hi strat, The word "exceed" is a bit vague for me, I wish to get my candle right so please allow me to ask in more detail. On BUOB, it include all characteristic of BUEB(open should be equal or lower than previous close while close should be higher than previous open), with high being higher than the previous candle high and low being lower than previous candle low. Am I right? So, 2 consecutive bullish bar is not possible to form a BUOB unless the Open of the candle was gapped below the previous low of the candle? {image}
please allow me to ask in more detail

No problem - ask all you want - it is the ONLY way to learn and why the Lurkers will NEVER learn.

I replied in an earlier post that Step 1 was recognising basic candles. This was followed by SEEING BEYOND THE CANDLES. Make sure you understand this.

Hobby traders think that once they can recognise the ""usual"" PRICE action candles - BUEB, BUOB, BEEB, BEOB, ""Pin bars"" (most can't differentiate Hammers from Shooting Stars), dojis and various candlestick patterns etc., etc., they are PRICE ACTION experts. This is so far from reality!

As PASR traders we must learn to know and understand what is going on behind the candle and what made that candle look like it is. Only then can we make a big Step on THE PATH.

In short, there are many, many more PASR candles than those ""candlestick gurus"" know about. This is why I come unstuck when referencing those candles because I see "bullish"" candles outside ""their"" definition of "bullish"" etc and the same with all the other candles. PASR does not have a rigid definition of these candles - we need to know everything about that candle and its relationship to other candles, support, resistance, Strat Shadow etc., as I posted earlier.

So, putting candlestick definitions aside - what do you SEE and understand in that candle you identified?
15 YEARS OF PASR ON FOREX FACTORY!
  • #8,284
  • Nov 2, 2018 10:43am Nov 2, 2018 10:43am
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
I don't trade this system however I like the system shared by Strat.Just a question to you

If price was consolidating on UC as you mentioned then why would you take the loss.
SL 10-25pips is basically asking to be taken out because there is random nature in the markets.Spikes are common however they don't necessarily tell which side will break out. You could of not place hard stop and simply visually monitor the trade and if you reduce the size of the trade even better.
Thanks
In trading, you have to be defensive and aggressive at the same time
  • #8,285
  • Nov 2, 2018 10:48am Nov 2, 2018 10:48am
Quoting Scrumy
{quote} 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 {image}
Hi Scrumy,

This is the post as promised. I was also in a USDCAD trade.

Boss (Daily): Yesterday's candle closed as a BEEB, so I am looking for sell trades today.
Attached Image (click to enlarge)
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Worker (H4): Another BEEB was found, this time round with confluence of confirmation of bouncing off resistance, as well as breaking support of Strat Shadow
Attached Image (click to enlarge)
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Looking down at H1 also shows a confirmed Lower High.
Attached Image (click to enlarge)
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As I saw red news on the calendar for CAD which was in around 3 hours (and being burned too many times from news in H4 time frame), I decided to monitor my trade on M5, and try to close my trade before news.

The blue arrow was my exit candle: A BUOB (signifying the end of a downtrend).
Attached Image (click to enlarge)
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But wait! How do I know to be sure? Let's take a look at M15....
Attached Image (click to enlarge)
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Look at all the wicks of these 2 candles (depth gauge or periscope..?) Especially the second candle had a lower low than the first one. This tells me to run and take my money before the reversal happens.

Hope my analysis was good, and any comments are welcome.
  • #8,286
  • Nov 2, 2018 10:49am Nov 2, 2018 10:49am
XAUUSD GOLD

Quoting huatzhi
XAUUSD (Gold) Paper Trade BB {image} Pass 3 months was Hammer - Doji - BUEB. It was trapped on long term ranging as well. B {image} Has been in strong uptrend since 23 Sept week BUEB. W {image} Adjusted my SR to catch worker's PA. Got what I waited for, retest of Strat Shadow and BUEB formed. Swing low confluenced with previous swing high SR. However, the BUEB is just around the Strat Shadow. It stopped right around next SR and 200ema confluence coming soon. It will most likely wobble around for quite awhile. This trade is going to be pretty long...
All that glitters etc.

This shiny stuff took a lot of my money when I was "naively" trading Futures and Commodities but now, with my PASR hat on, I am no longer dazzled by it and can take my "shades" off!

Big Boss: Pass 3 months was Hammer

Yes and it is still IN CONTROL. Ask yourself what is the Strat Shadow doing from February 2016 and what do I understand from this?

Boss: Has been in strong uptrend since 23 Sept week

But is it NOW - week ending November 02, 2018?

Worker: Adjusted my SR to catch worker's PA.

Very good!

This trade is going to be pretty long term.

NO! Your evaluation is very good but you are wanting to trade this based on what you THINK, HOPE and PRAY is going to happen. Long term, short term, mid term - ANY TERM - WAIT for PASR.

In addition, gold is very sensitive to Stock Markets, geophysical and World events and can, AND DOES, turn on a dime and go in the opposite direction.
15 YEARS OF PASR ON FOREX FACTORY!
  • #8,287
  • Nov 2, 2018 10:53am Nov 2, 2018 10:53am
PASR THE PATH

Quoting pippoacher
{quote} I exercise certainty, knowing that I don t actually have to jump into trades that arnt there. Only ever trade real money, the pain of loss is a much better tutor than demo.
The pain of loss is a much better tutor than demo

A new catch phrase for me, thank you. Why didn't I think of that?
15 YEARS OF PASR ON FOREX FACTORY!
  • #8,288
  • Nov 2, 2018 10:53am Nov 2, 2018 10:53am
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...
On M5 trading, your entry was way too late. These are the arrows that I would enter if I was staring at this pair:
Attached Image (click to enlarge)
Click to Enlarge Name: USDCADM5.png Size: 81 KB
  • #8,289
  • Nov 2, 2018 11:03am Nov 2, 2018 11:03am
Quoting strat
XAUUSD GOLD {quote} All that glitters etc. This shiny stuff took a lot of my money when I was "naively" trading Futures and Commodities but now, with my PASR hat on, I am no longer dazzled by it and can take my "shades" off! Big Boss: Pass 3 months was Hammer Yes and it is still IN CONTROL. Ask yourself what is the Strat Shadow doing from February 2016 and what do I understand from this? Boss: Has been in strong uptrend since 23 Sept week But is it NOW - week ending November 02, 2018? Worker: Adjusted my SR to catch worker's PA. Very good! This...
Ask yourself what is the Strat Shadow doing from February 2016 and what do I understand from this?
Price has been ranging pretty much between 1150 and 1350 for 2 years and 8 (or 9?) months.

But is it NOW - week ending November 02, 2018?
Lines are pretty messy on XAUUSD, but I have a Inverted Hammer/Hanging Man/Doji on the Boss chart, signifying a possible return to the downtrend.
Attached Image (click to enlarge)
Click to Enlarge Name: XAUUSDWeekly.png Size: 109 KB
  • #8,290
  • Nov 2, 2018 11:05am Nov 2, 2018 11:05am
GBPCAD

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,...
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

Another one who has not read and understood my many posts on Hammers and Shooting Stars! That candle is a "hanging man" on your chart and a doji on mine telling us the buyers are no longer interested in buying.

however the price has closed at the level of the Resistance BRN 1.70, it is risky to buy at the level of resistance

If it is ""risky"" then why do it? You have forgotten our No. 1 Rule.

This "risk" and the fact that this is less than 1:1 R:R should have made you run away from this.

Start trading LIVE with REAL, hard earned money so that you can experience ""The pain of loss is a much better tutor than demo""- thank you, pippoacher!
15 YEARS OF PASR ON FOREX FACTORY!
  • #8,291
  • Nov 2, 2018 11:08am Nov 2, 2018 11:08am
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...
Hi Landax,

Thank you for sharing. It is always refreshing to see someone else's take on a chart. For one, I have not noticed it. I guess I should try and look into things like this more often.
  • #8,292
  • Nov 2, 2018 11:10am Nov 2, 2018 11:10am
S&P 500
The daily looks like it is bouncing off confluence and below 200EMA. The day is still not over on that side of the planet though.
Attached Image (click to enlarge)
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The weekly is possibly a WCC
Attached Image (click to enlarge)
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There might be an opportunity to short the index on the lower timeframes of H1 and H4.
Attached Image (click to enlarge)
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What I find very frustrating though is the up and down gaps on the opening price this year( heavy volatility that will burn my rookie fingers ). I will try to have a paper trade on this next week.
  • #8,293
  • Nov 2, 2018 11:19am Nov 2, 2018 11:19am
AUDCAD

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....
All that you wrote IS correct for my PASR Swing Trading strategy BUT I am not trading that and instead trade the Boss Swing on the Worker - two very different strategies.

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

5 days not 6 (no Sunday candles) - you can clearly see this when you combine my Posts 8241 and 8278 - if not, ask again.
15 YEARS OF PASR ON FOREX FACTORY!
  • #8,294
  • Nov 2, 2018 11:51am Nov 2, 2018 11:51am
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 for your detailed answer
  • #8,295
  • Nov 2, 2018 11:55am Nov 2, 2018 11:55am
MT4

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...
Thank you to all those who have replied to Scrumy on this topic - TRADERS HELPING TRADERS

MT4 has severe limitations when compared to Professional charting software such as TradeStation etc., but, you get what you pay for.

MT4 is free and, as long as I work and trade within its limitations, MT4 is fine for me. I occasionally check other chart trading software (the latest was Ninja Trader) but then I see Nicola (elitejets) telling me AGAIN - "there is nothing new in trading!"

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.

I don't think this is a limitation of MT4 but more of how you are using/not using MT4 as I constantly toggle from the Month to the Weekly to the Worker to H4 to H1 to M15 to M5 and to M1 each time with all my SR levels on.

So this is my Set Up:

I have a Profile called ""ALL" which shows 28 pairs on the Daily time frame all reduced in size to fit in that one screen.

When I want to look at say GBPUSD, I enlarge that chart and change to Monthly - then I add my SR levels see below:

Attached Image (click to enlarge)
Click to Enlarge Name: a.PNG Size: 49 KB


Then I toggle down to the Weekly chart by clicking on W1 on my Monthly chart to get:

Attached Image (click to enlarge)
Click to Enlarge Name: b.PNG Size: 59 KB


And my SR levels are still there. Now this is one of the limitations of MT4 in that all objects do not transfer accurately when shifting time frames so we have to "fine tune" them for each time frame. You can see on my Weekly chart that those SR levels are not accurately transferred from the Monthly so we just have to make slight adjustments.

Even when I toggle direct from the Monthly chart to M5, those levels are still there - see below.

Attached Image (click to enlarge)
Click to Enlarge Name: c.PNG Size: 26 KB


When all is said and done, YOU have to trade the charting software which is comfortable for you and which YOU understand. Just like finding your own PASR trading style, you have to find your charting style.

I hope this helps
15 YEARS OF PASR ON FOREX FACTORY!
  • #8,296
  • Nov 2, 2018 12:00pm Nov 2, 2018 12:00pm
Quoting strat
GBPCAD {quote} Thank you Radhe and Rub for your comments - TRADERS HELPING TRADERS Very good observation and thank you for bringing this example to the attention of those on here who are interested. BUT, this is only one example of one pair - this happens across all pairs. This is PASR! So, instead of just seeing the ""beauty"" of PASR, ask yourself why is this and what is happening at these levels and why?
The Bigboy exchange this price range, they have their short-term goals in this range 1.71500 and 1.66, nobody gets in the way of their path but shows some indecision regarding long-term direction?

Buyers and sellers precisely determine their target up or down and since markets are fractaux the price reacts around the Stratshadow within the lower timeframes
  • #8,297
  • Nov 2, 2018 12:34pm Nov 2, 2018 12:34pm
USDCAD

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...
Scrumy, you have some excellent feedback from Miku, bistolis and fxrabbi - TRADERS HELPING TRADERS

In addition to those valuable comments and also your own critique, I will just add:

Were you are of the biggest RED FLAG news event today when you entered this trade - NFP? News trading is only for EXPERIENCED traders no matter what their strategy is.

There are some positives though in what you did:

Nice trend, see Strat Shadow.

At least your Mark I eyeballs are in good working order!

SL of 10 Pips just above the BEEB - and above most of the highs in that consolidation.

Good! 15 pips is the maximum I ever RISK when trading M5.

TP about 25 pips away on next SR.

We don't set TPs when TREND TRADING - either on M1 or Monthly - go back, read and re-read Dr. Joe. Setting this TP tells me you were unconsciously trading Basic PASR.

Lessons Learned:
If there is CONSOLIDATION around SR , just DON'T ENTER - search for OTHER, BETTER PASR setups

YES! But how long will you remember this for?

look how the trend lines are almost the same as the 20 EMA

This tells me you have Mark II eyeballs - EXCELLENT!

I will keep posting my LOSING 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.

You will do well, Grasshopper! There is no strategy, method, system, black box or whatever etc., that has 100% winning performance. If anyone tells you any different, Exit Stage Left!

Make sure you are keeping a Trading Journal and documenting ALL your trades with before and after charts as I have explained many times. Most only review their winning trades so they can bask in their glory and ego BUT our losing trades tell us so much more.

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

Thank you! I post my screw ups and a few are posting theirs but not everyone.

We are not here to gloat in how well we trade or how many $ we have made - we are here to better ourselves as PASR Traders. The only way we can do this is to SHOW and LEARN from our screw ups no matter what the reason is, technical or psychological. I promise not to bite your head off...................but I still have my double barreled shotgun!

Thank you for posting this, Scrumy.
15 YEARS OF PASR ON FOREX FACTORY!
  • #8,298
  • Nov 2, 2018 12:38pm Nov 2, 2018 12:38pm
AUDCAD

Quoting HappyTrend
{quote} 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?
Where is your stop loss?

In my head
15 YEARS OF PASR ON FOREX FACTORY!
  • #8,299
  • Nov 2, 2018 12:41pm Nov 2, 2018 12:41pm
USDCAD

Quoting Davit
{quote} Hi Scrumy I don't trade this system however I like the system shared by Strat.Just a question to you If price was consolidating on UC as you mentioned then why would you take the loss. SL 10-25pips is basically asking to be taken out because there is random nature in the markets.Spikes are common however they don't necessarily tell which side will break out. You could of not place hard stop and simply visually monitor the trade and if you reduce the size of the trade even better. Thanks
Thank you, Davit - TRADERS HELPING TRADERS
15 YEARS OF PASR ON FOREX FACTORY!
  • #8,300
  • Nov 2, 2018 12:48pm Nov 2, 2018 12:48pm
Quoting strat
AUDCAD {quote} All that you wrote IS correct for my PASR Swing Trading strategy BUT I am not trading that and instead trade the Boss Swing on the Worker - two very different strategies. 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 5 days not 6 (no Sunday candles) - you can clearly see this when you combine my Posts 8241 and 8278 - if not, ask again.
Strat, thanks for your reply. After watching carefully at the Boss chart in post 8278, I finally understand why you enter at the blue candle in the daily. It was all due to the exhaustion gap which indicated that the end of the down trend was near. That's where you wait for the confirmed swing low in the daily to enter the trade.

If I am wrong, please let me know.

I only know about exhaustion gap just now. Some thing new I've learn.

Corinna
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