Strat's PASR Long Term, Stress Free Trading | Page 429 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

MY PASR journey Based on Strat's PASR Trading 76 replies

M5 PASR Trend Trading Strat 95 replies

My PASR Trend Trading Journals 3 replies

A young trader's road to profitability - PASR trading - Live 11 replies

Fibs trading and PASR 0 replies

Attachments: Strat's PASR Long Term, Stress Free Trading
Exit Attachments

Strat's PASR Long Term, Stress Free Trading

  • #8,561
  • Nov 9, 2018 9:00am Nov 9, 2018 9:00am
Quoting Francl
...
Hi,
my thoughts - for the PASR to be valid, there would have to be a much better shaped SS near a more significant BOSS resistance (84ish). 83.00 was not well respected in the past. Yes, it coincides with SS on BOSS but the shadow is flat and it failed to make LL.
Boss is in an upswing from double bottom with strong last week, so the PA to stop it should be in proportion this. You could swing trade on lower TFs where D1 is the BIG BOSS and use appropriate short term SR levels.
  • #8,562
  • Nov 9, 2018 9:13am Nov 9, 2018 9:13am
Quoting TerryDawe
{quote} Thanks Strat, I will try to digest that final sentence. Regards Terry
Seeing beyond the Candles

Hi Terry and Strat

This is how I try and wrap my head around concepts such as this by using a technique Strat showed us on these threads. Overlaying different time frame prices help me to better see prices changing direction as well as the implied nuances of price action in general. For example, why does a candle look the way it looks? Why long? why short? Why red? Why green? Why, why, why...? I want to understand why!

Anyway, below are a few images from the notes that I have made out of the threads. These are conceptual only to try and understand how to read price action and are not a set of rules to follow as price goes where it wants to go. That being said, looking at it this way you can see sentiment change real-time even before the higher time frame candle is completed. But, you can also see that the higher level candles are in actual fact directing the proceedings.

Also note that the concepts implied in the images below should comply with PASR on real charts.

Strat, please klap (good bollocking) me back onto the straight and narrow if I have this wrong...

Regards
Pete
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 41 KB
Click to Enlarge Name: Screenshot2.png Size: 36 KB
Click to Enlarge Name: Screenshot3.png Size: 34 KB
  • #8,563
  • Nov 9, 2018 9:34am Nov 9, 2018 9:34am
NZDCAD

Quoting Eurotrader17
{quote} Thanks, Strat! Little by little getting there Is it just myself or we could see some EW in here? {image}
Is it just myself or we could see some EW in here?

It can be anywhere because you are trying to FIT EW into PRICE ACTION.

I can give you any number of EW wave counts, here is one of MANY and I can give you even more on the Boss not to mention the Big Boss.

So, which is right?

WHO CARES?

Why waste time trying to FIT EW in to your charts when you can be watching PRICE ACTION? (PASR)

Throw your EW Waves in the bin before they ""bin"" you!

Attached Image (click to enlarge)
Click to Enlarge Name: a.PNG Size: 56 KB
15 YEARS OF PASR ON FOREX FACTORY!
  • #8,564
  • Nov 9, 2018 9:38am Nov 9, 2018 9:38am
Quoting Francl
AUDJPY As I am reading the PASR (both threads) I also practice cause is going better in my head than…. So here is my view on one pair, all comments are appreciated. Big boss {image} Boss {image} Worker {image} If BEEB happen today than classic PASR is Entry: few pips below the low of today candle, stop above previous day candle - on my charts- 83,10 1st target 81.30ish 2 nd target 80,67ish As I am writing this I have also concerns (the property of those who didn't learn enough like me ooo) about my plan because: 1.this swing up produced HH, 2. today...
Hi

Welcome. Nice analysis, not sure what to comment so I just post my analysis as well.

BB
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 158 KB

Price has been testing 80 for 4 months. Consolidation. BEEB is in control. Buyers and sellers are both agree to stay within this price, for now. Also note that current monthly high just tested the Strat Shadow and kind of get resisted (also confluences with high of the control candle).

B
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot2.png Size: 210 KB

Immediate trend is up. A strong BUEB pushed the price up last week. Current week candle high is confluence with Strat Shadow roof.

W
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot3.png Size: 225 KB

A Strat Shadow. A potential BEEB confirmation. Right above 200ema(which is not that great, especially when BOSS immediate trend is up).
- Now we actually know that the high of the Shooting Star is actually confluence with BB's Strat Shadow, BB control candle high and B Strat Shadow roof. It is also around BB SR area. This is kind of ""confidence boost"".
- Mid June Strat Shadows lines close together, price get push down; Mid July Strat Shadows lines close together, price get push down; Early October Strat Shadows lines close together, price get push down; Now Strat Shadow kind of crossed, ?????
- It almost feel like BB 20ema trading big boys are fighting W buyers.



It sure feel weird to analyse potential of a PA that is not there yet. Friday candle also have an issue that I did not like - potential gap on weekend, it kind of mess up analysis.

Your chart also remind me of double bottom, breaking trend line follow-up confluences that I used to read about on other PA sites.
  • #8,565
  • Nov 9, 2018 9:39am Nov 9, 2018 9:39am
EURAUD M5 PASR Trend Trading

Quoting Frank0
Strat, This entry was late, a litttle after 9 pacific. It was watched all the way down by Dr Joe. Thanks for all, Frank {image} {image}
Well done, Frank, I am really pleased for you. It sure beats Social Security - right?

Keep watching what PRICE does after the London CLOSE
15 YEARS OF PASR ON FOREX FACTORY!
  • #8,566
  • Nov 9, 2018 9:43am Nov 9, 2018 9:43am
Broker data feed

Quoting Szpons
{quote} Hi Szpons, My worker have slightly different data feed, with the close I get, this is not the pair I want to sell Mine is GMT+1. this is not the pair I want to sell Me neither after yesterday close. I'm waiting for the PA to show me that it is ready to be sold. However, there is GBPUSD this time around Yes it looks better at the moment than CAD cross. 3 Tranches SL - 1.31830 A couple pips above swing high I like your plan, mine is roughly the same. GBPJPY looks like ready to join the party, here is the Worker: {image}
Mine is GMT+1.

It should be GMT +2
15 YEARS OF PASR ON FOREX FACTORY!
  • #8,567
  • Edited 10:44am Nov 9, 2018 10:34am | Edited 10:44am
GBPJPY

Today's trade.

I am sort of fed up with M5 trading so thought to go higher to test the time frame which suits me.So here is my first trade. Multi time frame analysis

Worker
Yesterday made a long legged doji at 149.29 resistance. seams PRICE struggling to go for higher prices.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYmicroDaily.png Size: 51 KB


H4
Immediate trend down.testing 148.52 level.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYmicroH4.png Size: 41 KB


H1

Trend down. Testing Strat shadow.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYmicroH1.png Size: 40 KB


there is the set up for me ,I thought.So I thought to go lower to M15

M15
testing Strat Shadow ,entered after BEEB. I should have waited little bit for my entry .
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYmicroM15.png Size: 30 KB


Trade has a potential to go more ,but I had to close it because its too late here.

Suranga

P.S. going to sleep.. Hv a good day ..(Strat and fellow students of our PASR University..)
Focus, Patience, Discipline, Determination and Perseverance
  • #8,568
  • Edited 10:46am Nov 9, 2018 10:35am | Edited 10:46am
PASR THE PATH

Quoting fxmarvel
{quote} My yesterday's experience was very similar to yours; I was in the negative territory but not by much (small gains & small losses) then I had these two trades at the end and I called it a day (with profit). The key was the fact I was confident in the system and never got discouraged. EURCAD M5 {image} EURUSD M5 {image}
In addition to bistolis's comments - TRADER HELPING TRADERS

EURCAD M5

You are one very luck guy!!!!!

I have a patience problem... sometimes this works out in my favor

It did this time BUT it definitely will NOT over time. You NEED to address this because it will drain your trading account and STOP you from being ""consistently profitable"".

but this is my style, I always like to get in early

This is NOT a "style" - this is a WEAKNESS which will END any trading career you are ""hoping"" for!

Your entry was much worse than my crappy entry!!!!

First, you entered what you thought was a short trend trade when PRICE was in a TRADING RANGE!

Attached Image (click to enlarge)
Click to Enlarge Name: a.PNG Size: 29 KB


Your entry should have been a Basic PASR entry LONG for about 12 pips back up to resistance/daily open.

Even worse, your Stop Loss for this short entry should have been 25+ pips and not where you had it. A 25+ pips Stop Loss is NOT my M5 PASR Trend Trading strategy! If my Stop Loss is greater than 15 pips, I find another pair.

So, you entered short and suffered an 18+ pips draw down! This tells me you are trading rice beans! If you want to trade for a living, you need either large position sizes or many medium size positions. Had your sizes been like this, NO WAY could you sit through 18+ pips drawdown ($180/360+)

You were LUCKY this time that PRICE took your rice beans in your direction but you will not be the next time, and the time after that and the time after that............................etc.

PATIENCE is one of several psychological emotions needed to be "consistently profitable" in trading.

EURUSD M5

This was better but you were still IMPATIENT. Unless you have considerable experience trading M5 PASR Trend Trading strategy, you should have WAITED for New York to CONFIRM continuation of the London down trend which occurred 35 minutes later. You were LUCKY this time, but you will not be next time and...............

The key was the fact I was confident in the system and never got discouraged.

The ""system"" is ONLY as GOOD as the trader operating it!!!!!!!!!
15 YEARS OF PASR ON FOREX FACTORY!
  • #8,569
  • Nov 9, 2018 10:42am Nov 9, 2018 10:42am
PASR THE PATH

Quoting bistolis
{quote} it will take some time for you to reach the post that I am about to quote a piece of, and I suggest you keep reading this until it makes sense at some point. So here it goes: My “damage limitation” (RISK) mode was still fully functional as I exited with a bruised ego rather than many lost $. I proved to myself once again that being “”consistently profitable”” is all about managing your LOSSES (RISK – CAPITAL PRESERVATION) rather than managing profit. thanks Strat
Well at least I know that bistolis got something out of my self evaluation post!
15 YEARS OF PASR ON FOREX FACTORY!
  • #8,570
  • Nov 9, 2018 10:51am Nov 9, 2018 10:51am
PASR THE PATH

Quoting Zanek
{quote} Hi Strat, thanks for the comment. I am viewing charts only with Basic PASR and Swing PASR glasses yet. With Swing PASR I tend to get out with H4 PASR on Worker resistance and do not wait until the end of Worker swing. This comes from BASIC PASR mindset, will have to work on it. Trend is a bit trickier. With my current understanding, I define trend as high/low structure on Worker (when trading H4), which corresponds to Boss immediate trend. Sometimes the trend situation is more obvious on Worker as the Worker H/L structure, sometimes on Boss...
Is my understanding of the BASIC/SWING/TREND type of trading correct?

Yes, you are doing good - keep on clocking the thousands of hours to get better.

How would you trade it?

Much the same but I don't trade H4 as it is not convenient for my lifestyle. I only use H4 and H1 to get better entries and R:R from Worker PASR Set Ups.
15 YEARS OF PASR ON FOREX FACTORY!
  • #8,571
  • Nov 9, 2018 11:15am Nov 9, 2018 11:15am
PASR THE PATH

Quoting JCMPete
{quote} Seeing beyond the Candles Hi Terry and Strat This is how I try and wrap my head around concepts such as this by using a technique Strat showed us on these threads. Overlaying different time frame prices help me to better see prices changing direction as well as the implied nuances of price action in general. For example, why does a candle look the way it looks? Why long? why short? Why red? Why green? Why, why, why...? I want to understand why! Anyway, below are a few images from the notes that I have made out of the threads....
Thank you, Pete BUT, this is all THEORY. You have just taken me back to my University days! I was really good with theories and formulae but never really UNDERSTOOD them until I APPLIED them. If this helps you then good for you but I would recommend learning to SEE BEYOND THE CANDLES by actually trading REAL candles on REAL charts.

""The challenge for me is that by the time the Boss confirms the Swing, the Worker has usually already bolted.""

This is a very important observation and is FACT. However, it is not as negative as you may think. It is very good when PRICE takes off in a trend but not good when the Boss swings. This is exactly why we have to identify Boss Swings as early as we can.
15 YEARS OF PASR ON FOREX FACTORY!
  • #8,572
  • Edited 12:02pm Nov 9, 2018 11:44am | Edited 12:02pm
Quoting strat
PASR THE PATH {quote} Thank you, Pete BUT, this is all THEORY. You have just taken me back to my University days! I was really good with theories and formulae but never really UNDERSTOOD them until I APPLIED them. If this helps you then good for you but I would recommend learning to SEE BEYOND THE CANDLES by actually trading REAL candles on REAL charts. ""The challenge for me is that by the time the Boss confirms the Swing, the Worker has usually already bolted."" This is a very important observation and is FACT. However, it is not as negative as...
Thank you Strat...and you are right on all points except for "However, it is not as negative as you may think". I do not think this is negative. It is actually an extremely exciting point in time of trading analysis. For me this is the crux of the matter! And thank you for confirming it!

Regards
Pete

PS...With the confirmation above I am ready to progress on the next step of my journey on the path. Live trading at the hard right edge. (Credit to Yomi ) I will be posting the charts. (Warts and All...)
  • #8,573
  • Nov 9, 2018 12:09pm Nov 9, 2018 12:09pm
PASR THE PATH

Quoting Francl
AUDJPY As I am reading the PASR (both threads) I also practice cause is going better in my head than…. So here is my view on one pair, all comments are appreciated. Big boss {image} Boss {image} Worker {image} If BEEB happen today than classic PASR is Entry: few pips below the low of today candle, stop above previous day candle - on my charts- 83,10 1st target 81.30ish 2 nd target 80,67ish As I am writing this I have also concerns (the property of those who didn't learn enough like me ooo) about my plan because: 1.this swing up produced HH, 2. today...
As I am reading the PASR (both threads) I also practice because is going better in my head then

Very good - practice makes perfect

AUDJPY

You have comments from Zanek and huatzhi - TRADERS HELPING TRADERS

Big Boss
This is the 4th month of PRICE testing and re-testing BRN 79/80 so this is telling us something - make sure you know what that is.

""below 20 ema""

PASR does not trade or use moving averages.

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


Boss

"new swing high appearing"

Really! How do you know - do you have a crystal ball? PASR traders do NOT forecast the future. PASR traders do not make any decision on the Weekly chart until the Friday CLOSE at 5pm New York time.

The rest of the comments on your chart are good.

Attached Image (click to enlarge)
Click to Enlarge Name: b.PNG Size: 61 KB


Worker

hammer produced from important support - classic PASR?

Good observation BUT it is NOT classic (text book) PASR because the Hammer is not at the end of the down swing with nothing to the left of it - there are 3 candles to the left of it.As you can see, it still was a valid PASR entry

W, uptrend, crossing both ema

PASR does not trade or use moving averages.

""if today remains as it looks this is BEEB""

This should be ""if today CLOSES as it looks this is BEEB""

What do you SEE below that potential BEEB?

If BEEB happen today than classic PASR is
Entry: few pips below the low of today candle,
stop above previous day candle - on my charts- 83,10
1st target 81.30ish
2 nd target 80,67ish

I understand you have to "look into the future" to practice BUT, again, What do you SEE below that potential BEEB?

As I am writing this I have also concerns (the property of those who didn't learn enough like me ooo) about my plan because:
1.this swing up produced HH,
2. today candle will probably close above the 200 ema and
3. will also close above upper TL which hold from June 2018

today candle will probably close above the 200 ema

What does this tell you?

will also close above upper TL which hold from June 2018

What does this "TL" tell you that the 200ema and Strat Shadow doesn't ALREADY tell you?

There is no mention of what is below the potential BEEB (Hint: SEE what is happening on H4 and H1)

Very good first time analysis - keep progressing further on THE PATH to learn and understand the Strat Shadow.

Attached Image (click to enlarge)
Click to Enlarge Name: c.PNG Size: 64 KB
15 YEARS OF PASR ON FOREX FACTORY!
  • #8,574
  • Nov 9, 2018 12:44pm Nov 9, 2018 12:44pm
GBPJPY H1

Quoting Suran
GBPJPY Today's trade. I am sort of fed up with M5 trading so thought to go higher to test the time frame which suits me.So here is my first trade. Multi time frame analysis Worker Yesterday made a long legged doji at 149.29 resistance. seams PRICE struggling to go for higher prices. {image} H4 Immediate trend down.testing 148.52 level. {image} H1 Trend down. Testing Strat shadow. {image} there is the set up for me ,I thought.So I thought to go lower to M15 M15 testing Strat Shadow ,entered after BEEB. I should have waited little bit for my entry...
I am sort of fed up with M5 trading so thought to go higher to test the time frame which suits me

With all the short time frame "stuff" on here, we are in danger of drifting away from the "heart" of this thread - PASR LONG TERM, STRESS FREE TRADING.

While PASR works on ALL time frames, we have to find the time frame which suits our style and expectations. For some, it means trading M5/M15 to trade for their living, while others enjoy bigger riches on "End of Day" trading. Me, I'm well and truly hooked on PASR and cannot resist banking profits on whatever time frame presents PASR Set Ups.

It would be good to bring the emphasis back to long term, stress free trading though.

So, for new students, we need to clarify that your "Worker" chart is H1 and your Big Boss is the Daily chart with your Boss being H4. You then "fine tuned" your entry on M15.

Worker
Yesterday made a long legged doji at 149.29 resistance. seams PRICE struggling to go for higher prices.

This is NOT your Worker - your Worker is H1. This chart, the Daily, is your Big Boss.

PRICE is at a PAUSE because the buyers and sellers are at a level where they AGREE on PRICE - balance/equilibrium. Since PRICE was at the top of its Swing at resistance, the probability of PRICE going lower is higher than PRICE moving above resistance.

H4
Immediate trend down.testing 148.52 level.

Good, but H4 is your Boss.

H1
Trend down. Testing Strat Shadow.

Very good, but H1 is your Worker.

So I thought to go lower to M15

Why? Why not M5?

M15
testing Strat Shadow ,entered after BEEB. I should have waited little bit for my entry .

No, your entry is OK - you should have "added on"" - there were 3 "add ons" on your chart.

Trade has a potential to go more ,but I had to close it because its too late here.

Good.

Very good, Suranga - lets see more!
15 YEARS OF PASR ON FOREX FACTORY!
  • #8,575
  • Nov 9, 2018 2:38pm Nov 9, 2018 2:38pm
Quoting Zanek
{quote} Hi, my thoughts - for the PASR to be valid, there would have to be a much better shaped SS near a more significant BOSS resistance (84ish). 83.00 was not well respected in the past. Yes, it coincides with SS on BOSS but the shadow is flat and it failed to make LL. Boss is in an upswing from double bottom with strong last week, so the PA to stop it should be in proportion this. You could swing trade on lower TFs where D1 is the BIG BOSS and use appropriate short term SR levels.
Hi Zanek
Thanks for comments, yes I know my SR drawing is weak point, I should put much more effort into. I studied your chart of EURAUD H4 post 8.558 and I noticed diff. candles, which data feed has your broker? my is GMT +2
Regards
Igor
  • #8,576
  • Nov 9, 2018 7:09pm Nov 9, 2018 7:09pm
Quoting strat
GBPJPY H1 {quote} ....
So, for new students, we need to clarify that your "Worker" chart is H1 and your Big Boss is the Daily chart with your Boss being H4. You then "fine tuned" your entry on M15.

Ohh , Yes got it.


"So I thought to go lower to M15"
Why? Why not M5?

Basically I wanted to test a time frame higher than M5. When I am trading M5 , I fall a sleep. I really falling a sleep. It happened many times. Probably may be because London session is right after my lunch time. We Sri Lankans having a heavy meal at lunch. ha ha.. when I sit down in front of the screen I literally fall a sleep. I still didn't find a practical solution for this. I will never be profitable If I trade this way.

Irony is that M5 is the method that attracted me to your PASR thread.I wanted to join your pvt forum in some where around 2010. But I was bit scared to trade long term those days , because I did not want to invest big bucks to trade . But now I know I mislead by others.So when I saw M5 charts in your thread (with a colorful Strat Shadow)..I was jumping up and down.

No, your entry is OK - you should have "added on"" - there were 3 "add ons" on your chart.

Are these the "add ons" ?
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYmicroM15.png Size: 30 KB



Thanks a lot for your guidence Strat

Suranga
Focus, Patience, Discipline, Determination and Perseverance
  • #8,577
  • Nov 10, 2018 1:22am Nov 10, 2018 1:22am
hi guys, how is everyone doing? I am very new to this thread, I just finished going through the pdf and I saw there not to trade any timeframes lower than daily. Now i mainly see M5 charts posted in the thread. I dont understand this. Can anyone please say which tf to see? Sorry for asking such question
  • #8,578
  • Nov 10, 2018 1:36am Nov 10, 2018 1:36am
Quoting redeemer007
hi guys, how is everyone doing? I am very new to this thread, I just finished going through the pdf and I saw there not to trade any timeframes lower than daily. Now i mainly see M5 charts posted in the thread. I dont understand this. Can anyone please say which tf to see? Sorry for asking such question
Hi Redeemer,

Welcome! That pdf is just a summary compiled by some one else (not Strat). You should start from Strat's old thread (which is the main PASR trading course known as THE PATH). You can find the link to that thread in the first page of this thread . After you finish that thread then read all of this thread. Then you will figure that PASR is for any time frame(and any market) which suits YOU.

M5 method is a strategy introduced by strat very recently. Mainly for training purposes. But still there are traders who trades it profitably.


Suranga
Focus, Patience, Discipline, Determination and Perseverance
  • #8,579
  • Nov 10, 2018 2:04am Nov 10, 2018 2:04am
Quoting strat
Broker data feed {quote} Mine is GMT+1. It should be GMT +2
Quoting MikuSS
{quote} Hi Szpons, Seems like you got a broker with a Sunday candle. I suggest you change to one which opens on Monday instead of Sunday, as it will screw with your analysis. Depending on where you are from, someone might be able to advise you on a suitable one. Regards, Miku
Yes, I know I have to work on that.
  • #8,580
  • Nov 10, 2018 3:30am Nov 10, 2018 3:30am
Quoting Suran
{quote} Hi Redeemer, Welcome! That pdf is just a summary compiled by some one else (not Strat). You should start from Strat's old thread (which is the main PASR trading course known as THE PATH). You can find the link to that thread in the first page of this thread . After you finish that thread then read all of this thread. Then you will figure that PASR is for any time frame(and any market) which suits YOU. M5 method is a strategy introduced by strat very recently. Mainly for training purposes. But still there are traders who trades it profitably....
ohh okay buddy thank you so much, i will go through the original thread and then come back here.
Goodluck dear friend
5 traders viewing now