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Strat's PASR Long Term, Stress Free Trading

  • #8,441
  • Nov 6, 2018 4:35pm Nov 6, 2018 4:35pm
Greetings to everyone,

My name is Michalis. With this post I would like to express my appreciation to Strat on his effort to teach and help traders. I was trading for many years on naked charts using price action at S/R. I paused trading for 2.5 yeas due to obligations in real economy. Strat keep on the good work !!!

Michalis
Every so often wrong and sometimes right but always honest. MV
  • #8,442
  • Edited 7:46pm Nov 6, 2018 4:59pm | Edited 7:46pm
Quoting HappyTrend
{quote} Hello Strat, Well.. My position still open hehehe, practicing trading the Boss Swing. And in AUDJPY too. Sorry for asking this "fool" question (but i think the real fool is those who dont ask anything..), With Boss Swing, You wait for Boss Candle for made the decision? Or maybe in a BigBoss/Boss Support/Resistance zone, checking the worker for takeprofit and maybe take opposite trade for the Boss Swing? Thank you.
but i think the real fool is those who don't ask anything.

You got that right, HT!

Mark up your chart to show me what you mean.
15 YEARS OF PASR ON FOREX FACTORY!
  • #8,443
  • Nov 6, 2018 7:48pm Nov 6, 2018 7:48pm
Update on the USDJPY trade based on PASR.

Price action reached the first concern level where I banked 1/2 of the entire long position. The SL of the remaining position was moved below the low of today's candle making the trade stress free. Stress free to explore the possibility of higher price levels.

I apologize for the mobile screenshots as I am away from my office. If it is a problem then I will remove them.

Michalis
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Every so often wrong and sometimes right but always honest. MV
  • #8,444
  • Nov 7, 2018 12:00am Nov 7, 2018 12:00am
Quoting strat
{quote} Poker Man - didn't know you played and had such good taste in guitars. Marshalls are more for the "heavy metal" humbucker boys - try original Fender Twin Reverb or Vox AC30. While we are ""off topic"", make sure you see the "Bohemian Rhapsody"" movie - its just like being at a Rock concert. The guy who plays Brian May could be him 48 years ago! Here is my 1957 relic: {image}
That's a lovely.... lawn.

Quoting SPATrading
Update on the USDJPY trade based on PASR. Price action reached the first concern level where I banked 1/2 of the entire long position. The SL of the remaining position was moved below the low of today's candle making the trade stress free. Stress free to explore the possibility of higher price levels. I apologize for the mobile screenshots as I am away from my office. If it is a problem then I will remove them. Michalis {image} {image}
I hope that's not a real account! Strat has said a few times to use a small real account trading the smallest lot size you can to learn, demo has far to optimistic results.
Anyway, I take it you've taken a portion of profit at the first resistance, and moved the stop to a point where you will be break even.
The first thing I see is there's not enough room for a decent reward to your risk. On my chart it shows a risk of about 85 pips for a reward of not even 40! Unless you get an entry on a lower time frame to make it at least 1:1 I wouldn't have even considered it. Think of it this way, would you risk $1000 to maybe get $350?
In all honesty I couldn't even find a decent entry after the one I've indicated on a smaller time frame that would've been ok, so I don't think there was a trade there.
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  • #8,445
  • Nov 7, 2018 12:19am Nov 7, 2018 12:19am
Quoting strat
{quote} but i think the real fool is those who don't ask anything. You got that right, HT! Mark up your chart to show me what you mean.
Hello Strat, sorry for the delay of my reply.

Remember this post: https://www.forexfactory.com/showthr...5#post11648805

My entry in AUDCAD

360m

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1440m

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*********************

Well in almost the same place where i took profit, i re-entry again for learning the Boss Swing in a "live trade"... As i said before.. i come from tick charts to where i am right now. So i need to practice the patience of the Boss Swing.

My question is: where to close the trade?

Trading the Boss Swing i have notes about two things:

1) Check every new Boss Candle for take an action.

2) Check Support/Resistance of Boss and BigBoss.. and if arrive check PASR on WORKER.

WORKER UPDATE:

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BOSS UPDATE:

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Thank you.
  • #8,446
  • Nov 7, 2018 12:29am Nov 7, 2018 12:29am
Quoting SPATrading
Update on the USDJPY trade based on PASR. Price action reached the first concern level where I banked 1/2 of the entire long position. The SL of the remaining position was moved below the low of today's candle making the trade stress free. Stress free to explore the possibility of higher price levels. I apologize for the mobile screenshots as I am away from my office. If it is a problem then I will remove them. Michalis {image} {image}

Samething as Rub, i hope that is not a real account... If is it... you re going to get hurt.
  • #8,447
  • Nov 7, 2018 12:34am Nov 7, 2018 12:34am
Quoting strat
{quote} Poker Man - didn't know you played and had such good taste in guitars. Marshalls are more for the "heavy metal" humbucker boys - try original Fender Twin Reverb or Vox AC30. While we are ""off topic"", make sure you see the "Bohemian Rhapsody"" movie - its just like being at a Rock concert. The guy who plays Brian May could be him 48 years ago! Here is my 1957 relic: {image}
Now that is a master piece, My good taste in guitars is only eclipsed by my generally poor taste in music. My dad being a Mancunian, gave me a grounding in the mainstays, Floyd, Doors, Deep Purple, then I went into Iron Maiden and it was all basically downhill from there ( Scandinavian Black Metal anyone?) although I have a soft spot for classical ( my Aunt is a classical pianist) Vivaldi, Chopin, Mozart, Paganini.
I hope to buy a guitar soon, ( my guitars were stolen a few years back.... welcome to South Africa) when I have a gap to do some playing.

I saw Brian May last year, he lives in Cape Town, I didnt recognize him immediately, and that had nothing to do with the 4 'THOR'S HAMMERS' i sunk in the previous hour. ( Thors hammer is my contribution to the liquid science, basically a pint with a shot of Jagermeister in it, to the horror of all around me. There are however benefits to this 1: You dont have to walk to the bar often, 2: Nobody steals your drink, 3: conversation with people I dont like suddenly becomes less tiresome. I however digress......) back to trying to understand the path .................
  • #8,448
  • Nov 7, 2018 2:19am Nov 7, 2018 2:19am
Quoting SPATrading
Update on the USDJPY trade based on PASR. Price action reached the first concern level where I banked 1/2 of the entire long position. The SL of the remaining position was moved below the low of today's candle making the trade stress free. Stress free to explore the possibility of higher price levels. I apologize for the mobile screenshots as I am away from my office. If it is a problem then I will remove them. Michalis {image} {image}
Hi
How do you check for SR on a mobile device? you just trade the recent 20 candles?
  • #8,449
  • Nov 7, 2018 2:59am Nov 7, 2018 2:59am
Quoting bistolis
{quote} Hi How do you check for SR on a mobile device? you just trade the recent 20 candles?
I just monitor the trade and nothing else. My analysis and trade plan were done on a proper computer screen.
Every so often wrong and sometimes right but always honest. MV
  • #8,450
  • Edited 5:41am Nov 7, 2018 4:20am | Edited 5:41am
Quoting strat
PASR THE PATH {quote} Welcome! I suggest you change your favourite trading quote: "1). In a losing game such as trading, we shall start against the majority and assume we are wrong until proven correct!" This is VERY NEGATIVE and TOTALLY against PASR strategy - PASR trades WITH the majority (Big Boys). PASR traders do NOT consider trading a "losing game" PASR traders do NOT consider trading as a "game" - we take it VERY SERIOUSLY and treat it as a BUSINESS - a very successful and profitable business. PASR traders, being well educated in trading,...
You made me smile before having my morning coffe. Thanks for that.

No, i'm not in any way confused, seems to me that you are on criticism mode onto my favorite quotes rather than my trading. Its ok for me, only let me enlight you about that ..

My favorite trading quote came from a book someone gave it to me 2 years ago and found it very instructive as the words came from a man who been in the Pits for all his life. And his advice refer especially to his trading style which was scalping.

Here is the ebook: Phantom of the Pits - http://www.fusioninvesting.com/Files...f-the-pits.pdf

Other than that, im now back to my place, watching your thread, re-read it and watching your champs here doing their best. I think i have lots of things to learn here.

Cheers again!
"What would you attempt to do, if you knew your success was a certainty?"
  • #8,451
  • Nov 7, 2018 5:34am Nov 7, 2018 5:34am
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...
EURNZD
Close first position for 180pips, at first target on support and 200EMA
and an re-entry for 40pips, exited few candle later as I saw the price is consolidated at H4 and not able to from lower low.
(wanted to close half but by mistake closed all, so re-entry)

Although it is in profit, I feel upset because I did not follow the PA before I exit.
As I am trading on Monthly, Weekly , Daily, I should monitor my trade on Worker (Daily).

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  • #8,452
  • Nov 7, 2018 5:37am Nov 7, 2018 5:37am
Quoting brian661
AUDJPY Monthly : After a few month consolidation and showing resistance at 200EMA, it continue the down trend Weekly : The price reached Weekly resistance Daily : A long pull back candle on resistance {image} {image} {image} I already enter a small position based on H1 BEEB last Friday. and is looking for add-on on H4 chart next week {image}
Thanks for everyone who comment on my analysis,
I am doing wrong on this trade as I did analysis on long time frame but enter at H1 (Luckily I am able to exit at break even).
I should wait for the confirmation of the higher time frame before I jumped in to the PA on low time frame
  • #8,453
  • Nov 7, 2018 5:39am Nov 7, 2018 5:39am
Quoting strat
{quote} Poker Man - didn't know you played and had such good taste in guitars. Marshalls are more for the "heavy metal" humbucker boys - try original Fender Twin Reverb or Vox AC30. While we are ""off topic"", make sure you see the "Bohemian Rhapsody"" movie - its just like being at a Rock concert. The guy who plays Brian May could be him 48 years ago! Here is my 1957 relic: {image}
So here is mine Yamaha Pacifica.
12 stringer but most of the times used as 6 stringer.

Rock on!
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  • #8,454
  • Edited 7:27am Nov 7, 2018 6:55am | Edited 7:27am
Quoting MikuSS
{quote} On M5 trading, your entry was way too late. These are the arrows that I would enter if I was staring at this pair: {image}
Hi Miku,

Thanks for reviewing this chart it has excellent examples to learn from. Although it was not my trade would you mind explaining why you exited when you did?

I ask because after the fourth short position there was a BUOB and previous candles with bullish wicks. You then placed the fifth short position and then exited on the next BUEB. Were you waiting for further conformation the price has stalled?

Thanks

Chris
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Successful people do what unsuccessful people are not willing to do
  • #8,455
  • Edited 8:24am Nov 7, 2018 7:23am | Edited 8:24am
Quoting MikuSS
{quote} Hi Tampa, Perhaps I can answer this as well, Strat and the others can correct me if I made any mistake. There are 3 kinds of PASR: Basic PASR, Swing PASR and Trend PASR. Basic PASR is trading from one Support/Resistance line to another Support Resistance line. R:R is measured before entry and is only made when acceptable. No add-ons. Swing PASR and Boss Swing means the same, and is simply waiting for confluence of Big Boss and Boss (and entering the trade on the Worker) and riding the momentum. We take profit when primary trend changes....
Miku,

Thanks again for the reply as it helped. I do have a few follow-up questions:

"Swing PASR - We take profit when primary trend changes"

I assume you are referring to the primary trend change on the Boss?

"Trend PASR - We exit when the trend is over"

For M5 that would be the trend on the M5 chart that's straight forward.

What if you are trading the Daily? Are you referring to the primary trend on the Daily or Weekly?

Are you aware of written entry and exit rules for Swing & Trend PASR on higher timeframes (Worker = Daily)? I tried searching both threads with no success. I did review hundreds of chart examples which helped.

Thanks!
Successful people do what unsuccessful people are not willing to do
  • #8,456
  • Nov 7, 2018 8:25am Nov 7, 2018 8:25am
USDCAD M5

Eating "THE MEAT"... and the head..

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Val
  • #8,457
  • Nov 7, 2018 8:26am Nov 7, 2018 8:26am
Quoting strat
AUDJPY {quote} Disappointed that no-one chose to comment on this but it could be that there were so many posts over the week-end. Big Boss:Main Analysis - AUDJPY is mainly bearish. BB did tell us that price still wanting to go down with August BEEB, reminding us again on October, while telling us that there are still buyers around 80 BRN trying to push the price back up. This pair is directionless AT THIS TIME. There are 4 months of testing BRN 79-80 telling us how important this PRICE area/zone/level is {image} Boss: Main Analysis - Currently the...
I think I am getting abit impatient lately. I'll adjust myself accordingly.

Quoting SPATrading
Update on the USDJPY trade based on PASR. Price action reached the first concern level where I banked 1/2 of the entire long position. The SL of the remaining position was moved below the low of today's candle making the trade stress free. Stress free to explore the possibility of higher price levels. I apologize for the mobile screenshots as I am away from my office. If it is a problem then I will remove them. Michalis {image} {image}
May be you could start with your SR? We need to know where PA is relative to SR around to make a better decision.

Here is what I see on USDJPY:

BB
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Immediate trend is up. Latest PA is BUEB but currently testing the SR.
- It just confirmed broke the triangle with August BUEB.

B
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Price is currently in control of BEEB 4 weeks ago. Price just resisted 4 times around SR 113.72 recently. Currently it is kind of moving in side way despite the BUEB candle last week.
- This is a potential wobbling area. Feb~Mar 2016, Feb 2017 and Dec 2017 had shown that price is behaving directionless for periods of time around here.

W
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Immediate trend is up. Price is testing the BB SR confluence with WCC high.
- The BUEB on Nov 12 did looks tempting without SR, not so much after drawing them out. Trading against strong BB SR with confluences doesn't make the odds on our side.
  • #8,458
  • Nov 7, 2018 8:33am Nov 7, 2018 8:33am
Quoting strat
EURJPY I wonder what you lot make of this? {image}
A few of the "lot" provided their views on Strat's query and I wonder if anyone followed up with long positions on this pair.
This is not one of the highest volatility pairs but since Strat's post, price on the H4 has moved up in a classic manner following the shadow and responding at S/R levels. Total to date 200+ pips, not including add-ons.
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  • #8,459
  • Nov 7, 2018 8:42am Nov 7, 2018 8:42am
Quoting TerryDawe
{quote} A few of the "lot" provided their views on Strat's query and I wonder if anyone followed up with long positions on this pair. This is not one of the highest volatility pairs but since Strat's post, price on the H4 has moved up in a classic manner following the shadow and responding at S/R levels. Total to date 200+ pips, not including add-ons. {image}
The first couple of arrows look a bit ambitious to me.. do you have Boss, Big Boss correlation?
While the third one worked out, I think it is best to wait for a pullback (5-6 candles later)
Val
  • #8,460
  • Nov 7, 2018 8:43am Nov 7, 2018 8:43am
Quoting fxmarvel
USDCAD M5 Eating "THE MEAT"... and the head.. {image}

Hahaha nice! Fishing the Positive Points?
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