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  • #8,581
  • Nov 10, 2018 4:22am Nov 10, 2018 4:22am
Quoting redeemer007
{quote} ohh okay buddy thank you so much, i will go through the original thread and then come back here. Goodluck dear friend
Just in case you misunderstood...

Thats how Strat advices to new guys(students) . However, he also advice's to actively participate with the forum (which will expedite the learning curve)


Hope this helps

Suranga
Focus, Patience, Discipline, Determination and Perseverance
  • #8,582
  • Nov 10, 2018 5:44am Nov 10, 2018 5:44am
Quoting huatzhi
{quote} Hi Eurotrader, After read again, I think you have traded with Trend PASR instead. {quote} Hi HappyTrend, Yes. I choose to stay out for that one. I'll look for boss close. Thanks you.
Hi huatzhi,
Nope, I traded it with BASIC PASR.
Had I traded it with Trend PASR I would've opened a position two candles earlier when the trend was confirmed (HH HL HH) with the big green candle, and "maybe" my entry could be considered as an addon.
Had I traded it with Swing PASR I would've opened a position where I marked with a "sore thumb".

Maybe the confusing part is that I used a tight stop, rather than setting my SL below last swing low? When this happens (the last swing is too far), we can toggle down to lower timeframes (H4/H1) to get a better insight and get a better RR.
But I insist, my trigger was BASIC PASR on the WORKER and I'll manage my trade on the WORKER

Happy weekend!
IF IT DOESN'T FEEL RIGHT - IT'S NOT RIGHT!
  • #8,583
  • Nov 10, 2018 5:50am Nov 10, 2018 5:50am
Quoting strat
NZDCAD {quote} 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! {image}
I got it! They are already in the bin, Strat

As always, thanks a lot for your guidance!

Have a nice weekend!
IF IT DOESN'T FEEL RIGHT - IT'S NOT RIGHT!
  • #8,584
  • Nov 10, 2018 9:34am Nov 10, 2018 9:34am
Quoting redeemer007
{quote} ohh okay buddy thank you so much, i will go through the original thread and then come back here. Goodluck dear friend
Hi Redeemer,
Haven't you been here before? I saw your name on the beginning of this thread.
  • #8,585
  • Nov 10, 2018 1:43pm Nov 10, 2018 1:43pm
[quote=strat;11678973]PASR THE PATH {quote} 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. {image} 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. {image} Worker hammer produced from important support - classic PASR? Good observation BUT it is NOT classic (text book

Thank you very much for your comments Strat

"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"
consolidation, preparing for break out in either direction?

"below 20 ema""
"PASR does not trade or use moving averages. "
Ok, understood

"new swing high appearing"
this was really my mistake, I meant hew HH


"This should be ""if today CLOSES as it looks this is BEEB""
yes, next time i will only comment on closed candels

"What do you SEE below that potential BEEB?"
Yeah, as I saw later there is SR level, I also looked to lower TF and it's more clear now, so we need to change the plan, o potential plan,
will work on SR and Strat Shadow in next weeks,

Thanks again for comments & have a nice weekend.
Igor
  • #8,586
  • Nov 10, 2018 1:51pm Nov 10, 2018 1:51pm
[quote=huatzhi;11678350]{quote} Hi Welcome. Nice analysis, not sure what to comment so I just post my analysis as well. BB {image} 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 {image} Immediate trend is up. A strong BUEB pushed the price up last week.

Thanks for nice comments Huatsi
  • #8,587
  • Edited 8:55pm Nov 10, 2018 8:27pm | Edited 8:55pm
Quoting strat
PASR THE PATH {quote} Trading, serious trading, not ""Hobby"" trading, teaches us so much about ourselves that we never knew. Again, successful trading is 95% psychological and 5% technical. It is all about ""YOU"" and your deep lying characteristics, attitude, personality and outlook. It searches for, and identifies, our weaknesses and truths about ourselves that not even our family dare tell us - except for this family - I dare, and do tell it like it is - no holds barred! Make sure you understand my "signature" at the end of each post.
It searches for, and identifies, our weaknesses and truths about ourselves that not even our family dare tell us.
Make sure you understand my "signature" at the end of each post.

I have been thinking about the words in this post, especially these two whole the week.
I will try to make 'MYSELF' becomes the edge one day.
Trading is such a great thing to learn and do. In the end, if I can't reach my goal in trading. At least I become a better and happier person, which will benefit my day job, my life and my relation with everyone includes myself.
We don't see things as they are, we see them as we are.
  • #8,588
  • Nov 10, 2018 8:49pm Nov 10, 2018 8:49pm
NZD/JPY M5 trade

Hi Strat and all PASR students,
Could you please comment this trade?

I was planing to do a 100 meters sprint, but I did marathon in the end. Actually, still not finish now.

It was Friday (9th November) morning my time. Thursday (8th November) 6:40pm New York time. I found NZD/JPY M5 short opportunity.
Entry position1 at 76.98, SL 77.15, TP 76.37.
Entry position2 at 76.87, same SL and TP as position1.
Entry position3 at 76.72, move all positions SL to 77.06, the position3 has no TP.

Went out with friends at night. Checked the price at US session open and US stock market open.
Went to sleep, set up alarm at 4pm New York time and see how is the price.
Plan: If the price is higher than 76.8, then close all; lower or equal with previous low, then leave all open. The plan is base on daily Time frame. If the price is lower than 76.8, it will be confirmed Swing High on daily chart.
The price was 76.6ish when I was woke up. As the price was lower than 76.8 but not lower than or equal with previous low (76.5ish), I closed two positions and left one open.

I think my position 3 was a wrong entry. It was too far away from M20, plus it was a small reverse after a sharp drop.
I don't know if I should exit somewhere as M5 trading strategy.
I feel I messed it up, but don't why.

Big Boss (H4), I erased the candles after my first entry,
Attached Image (click to enlarge)
Click to Enlarge Name: NZDJPYH4.png Size: 47 KB


Boss (H1), I erased the candles after my first entry.
Attached Image (click to enlarge)
Click to Enlarge Name: NZDJPYH1.png Size: 39 KB


Worker (M5)
Attached Image (click to enlarge)
Click to Enlarge Name: NZDJPYM5.png Size: 50 KB
We don't see things as they are, we see them as we are.
  • #8,589
  • Nov 10, 2018 9:06pm Nov 10, 2018 9:06pm
Quoting TampaFX
{quote} Victoria, I did not fully grasp Boss confirmed swings until recently. I was looking at more of a Intermediate trend on the Boss compared to the primary trend. Naturally a lot of the charts posted did not look like valid trades. I spent a few hours just charting Boss confirmed swings which helped quite a bit! While doing a search on swings I found Posts 18721-18739 on the old thread which were very useful. Also reference picture attached. Chris {image}
Thank you very much TampaFX,
It is a big help!!
I am still climbing the thread.
It is a kind of short cut learning but I think Strat will allow me to do it. Will you Strat?
I wrote down the word 'short cut' on a sticky label stick on both work and home desk to warn myself not do do it.
We don't see things as they are, we see them as we are.
  • #8,590
  • Nov 10, 2018 9:39pm Nov 10, 2018 9:39pm
Quoting Victoria2017
NZD/JPY M5 trade Hi Strat and all PASR students, Could you please comment this trade? I was planing to do a 100 meters sprint, but I did marathon in the end. Actually, still not finish now. It was Friday (9th November) morning my time. Thursday (8th November) 6:40pm New York time. I found NZD/JPY M5 short opportunity. Entry position1 at 76.98, SL 77.15, TP 76.37. Entry position2 at 76.87, same SL and TP as position1. Entry position3 at 76.72, move all positions SL to 77.06, the position3 has no TP. Went out with friends at night. Checked the price...
Hello Victoria

It looks to me like you are over complicating things. If you are trading a 5m chart the daily seldom would enter in for consideration. To me a 5m chart requires your undivided attention. I grant you sometime a 5m trade can turn into the main swing on the daily chart but it is not something we can plan on. Just stay with the trend till the trend ends.

It looks like you are trading the Tokyo session as well. I have caught some big moves durring this session but generally I try for a quick in and out if I catch a move. Again going out with friends negates this. I think if you want to go out with friends and have fun great. Maybe trade the daily chart. As for exiting the rest of your position...I guess we will have to see where it opens Monday and cross that bridge then. An exit plan should be a part of your entrance plan. I bet you had something of a plan for going out with friends, got yourself ready etc. then a plan to get home. We can't afford to trade by the "Seat of your pants" that is no real plan for exit.

Attached Image (click to enlarge)
Click to Enlarge Name: Victoria.png Size: 86 KB
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #8,591
  • Nov 10, 2018 11:15pm Nov 10, 2018 11:15pm
Quoting Victoria2017
NZD/JPY M5 trade Hi Strat and all PASR students, Could you please comment this trade? I was planing to do a 100 meters sprint, but I did marathon in the end. Actually, still not finish now. It was Friday (9th November) morning my time. Thursday (8th November) 6:40pm New York time. I found NZD/JPY M5 short opportunity. Entry position1 at 76.98, SL 77.15, TP 76.37. Entry position2 at 76.87, same SL and TP as position1. Entry position3 at 76.72, move all positions SL to 77.06, the position3 has no TP. Went out with friends at night. Checked the price...
Why are you trading NZD/JPY? Strat has said repeatedly he looks to his list of top 10 most volatile pairs to trade the 5 minute charts.

Having said that, I think you're missing the point of how strat trades 5 minute charts. He looks for stuff that is trending, draws support/resistance from the four and one hour charts, then trades from the 5 minute chart for a couple of hours.

What you have there....I don't think that's what strat trying to teach.

Honestly, being in Australia you're in a great position to trade the end of day charts, or perhaps the four hour charts because end of day for a new york close is currently about 9AM, and you can see all the Asian session four hour candle closes, and the first close for London, without any issues. It's only a pair like USD/CAD where the majority of the action takes place while we're asleep.
If you really want to trade the 5 minute charts, pay attention to BTS and Darko's posts, I think they trade the start of the London session. That is doable, time wise, for you.

Remember:
Trade to live, not live to trade!
  • #8,592
  • Edited 12:37am Nov 11, 2018 12:26am | Edited 12:37am
Quoting Victoria2017
NZD/JPY M5 trade Hi Strat and all PASR students, Could you please comment this trade? {image}

Hi Victoria,

I think I also should get in to bombard you (along with others). That's fun ha ha..

Really,while echoing what others told you I just want to ask couple of questions....

1.Are you trying to learn to trade Strat's M5 trend trading like Yomi (or Saad007 done in the beginning), and others senior guys doing here?
2.Or else are you trying to incorporate Bigboss ,Boss and worker concept to M5 trade.

These are two strategies that you need to ask your self and figure out what you need to do. Because these two are too different strategies.

Strat's M5 trend trading basically doesn't consider what PRICE doing in Daily,H4 or H1. It only uses S/R levels from H4 and H1 (and possibly M15). if you want to learn M5 trend trading then download all M5 trend trading charts here. Especially Strat's and then study Yomis, SAAD007 and others. see below Strat's ideal chart for M5 trend structure...and compare it to yours... do you see any similarity?..
Attached Image (click to enlarge)
Click to Enlarge Name: 15.PNG Size: 54 KB

and this is yours..Do you see SMOOTH SAW TOOTHED BLADE STRUCTURE in your chart.?
Attached Image (click to enlarge)
Click to Enlarge Name: NZDJPYM5.png Size: 50 KB


I am not saying your trades are bad. I am only trying to convey my point to you.
After trying to trade M5 trend for couple of months all I understood is this
M5 trend trading is all about finding the perfect trend structure and learning to read what candles telling you. And of course baby sit the trade with one eyed monster

Even Strat himself get burned for not following his own rules for M5 Trend trade. check his recent posts . Only his experience saved him.

Hv fun ..

Suranga


P.S. Do not know if you can incorporate Strat's rules( rules to trade his own time zone) for trading Asian session..that you need to figure out
Focus, Patience, Discipline, Determination and Perseverance
  • #8,593
  • Nov 11, 2018 1:49am Nov 11, 2018 1:49am
Quoting strat
PASR THE PATH {quote} 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...
Thank you gentlemen,
I'll try to wait for a better entry and not get in early...
Val
  • #8,594
  • Nov 11, 2018 1:53am Nov 11, 2018 1:53am
Hi all, today is Sunday, so it is time to review my trades, as well as analysing trades for next week.

CADJPY Swing PASR

Daily (Big Boss) was at high of Weekly Control Candle. Furthermore, the buying candles before that was small and wicky as compared to the selling candles, so I started to look for sell trades.
Attached Image (click to enlarge)
Click to Enlarge Name: CADJPYDaily.png Size: 97 KB


H4 (Boss) presented a exhaustion candle, showing that the buyers were leaving the game.
Attached Image (click to enlarge)
Click to Enlarge Name: CADJPYH4.png Size: 80 KB


H1 (Worker): I placed two sell stops (blue ones )below the two candles.
Attached Image (click to enlarge)
Click to Enlarge Name: CADJPYH1.png Size: 52 KB

In hindsight, perhaps adding positions on the pullback (red arrows with red lines as sell stops) would be better...

Will continue to add positions if the trend continues.
  • #8,595
  • Nov 11, 2018 2:10am Nov 11, 2018 2:10am
EURJPY Swing PASR

Big Boss (Daily): The candles on 7th and 8th November were dojis, indicating an end to the up swing. Furthermore, it is in confluence with 200ema, and also pretty close to high of Weekly Control Candle.
Attached Image (click to enlarge)
Click to Enlarge Name: EURJPYDaily.png Size: 90 KB


Boss (H4): This candle with the red arrow confirms swing high.
Attached Image (click to enlarge)
Click to Enlarge Name: EURJPYH4.png Size: 52 KB


Worker (H1): Placed a sell stop below the swing low. However, I was away and unfortunately did not manage to enter on the candle of the blue arrow.
Attached Image (click to enlarge)
Click to Enlarge Name: EURJPYH1.png Size: 49 KB


Will monitor on H1 and H4 and add positions if possible.
  • #8,596
  • Nov 11, 2018 2:22am Nov 11, 2018 2:22am
AUDUSD

A Shooting Star! (Or not?)
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSDWeekly.png Size: 95 KB
  • #8,597
  • Nov 11, 2018 3:04am Nov 11, 2018 3:04am
Been away from charts and then busy studying them.

Before I start trading again what is the rule for setting stops and TP with regard to allowing for the spread. If you look at your chart and decide your stop is above or below a certain historical candle the numbers provided by the platform tend to reflect only the bid prices, so if I am trading short I reckon I have to add the spread plus whatever i regard as safe above my chosen stop candle, is that correct and do I have to make any adjustment for my TP on that trade, and do I have to do any adjusting for a stop or TP on a long trade.

I am just concerned not only for live trades, but also when assessing potential historical trades that could have met a trade requirement.

I know I have been caught out in the past with this problem specially with the high spread pairs.
  • #8,598
  • Edited 4:53am Nov 11, 2018 4:08am | Edited 4:53am
Quoting LarryK
Been away from charts and then busy studying them. Before I start trading again what is the rule for setting stops and TP with regard to allowing for the spread. If you look at your chart and decide your stop is above or below a certain historical candle the numbers provided by the platform tend to reflect only the bid prices, so if I am trading short I reckon I have to add the spread plus whatever i regard as safe above my chosen stop candle, is that correct and do I have to make any adjustment for my TP on that trade, and do I have to do any adjusting...
so if I am trading short I reckon I have to add the spread plus whatever i regard as safe above my chosen stop candle

yes Larry, That's what I am also doing. Generally I put my stops behind Swing High/Low or Strat Shadow ( or behind S/R level) Plus may be a room for price to breathe. I experienced many times if I use tight stops ,Price might come back and hit my stops and continues my direction ..well with out my trade....damn.

so you need to give room for PRICE to breathe.

rgds
Focus, Patience, Discipline, Determination and Perseverance
  • #8,599
  • Nov 11, 2018 5:37am Nov 11, 2018 5:37am
Quoting Rufus
{quote} Hello Victoria It looks to me like you are over complicating things. If you are trading a 5m chart the daily seldom would enter in for consideration. To me a 5m chart requires your undivided attention. I grant you sometime a 5m trade can turn into the main swing on the daily chart but it is not something we can plan on. Just stay with the trend till the trend ends. It looks like you are trading the Tokyo session as well. I have caught some big moves durring this session but generally I try for a quick in and out if I catch a move. Again...
Just stay with the trend till the trend ends.
I realize that I was using Basic PASR to do the trend trading from these words.

An exit plan should be a part of your entrance plan.
I did make a fatal mistake in terms of this. Especially with a M5 trade.

I think if you want to go out with friends and have fun great. Maybe trade the daily chart.
Can't agree more, I shouldn't do a M5 trade like this. It is a big lesson for me.
When my friends were laughing, drinking and dancing, I was checking my trade and worry about it. Stupid me!!!

Thank you Rufus for pointing out all of these.
We don't see things as they are, we see them as we are.
  • #8,600
  • Edited 6:25am Nov 11, 2018 6:12am | Edited 6:25am
Quoting Rub
{quote} Why are you trading NZD/JPY? Strat has said repeatedly he looks to his list of top 10 most volatile pairs to trade the 5 minute charts. Having said that, I think you're missing the point of how strat trades 5 minute charts. He looks for stuff that is trending, draws support/resistance from the four and one hour charts, then trades from the 5 minute chart for a couple of hours. What you have there....I don't think that's what strat trying to teach. Honestly, being in Australia you're in a great position to trade the end of day charts, or...
I think you're missing the point of how strat trades 5 minute charts.He looks for stuff that is trending, draws support/resistance from the four and one hour charts, then trades from the 5 minute chart for a couple of hours.
Trading Europe session with M5 Time Frame on Tuesday, Wednesday and Thursday is my plan. I was going to start it this week but found I need to do more study. The NZD/JPY M5 trade just come to me when I did my daily analysis on Friday. Well, I thought I studied whole the week so should be enough to do practice.
These words make me think my study is not enough. However, Strat did say because of his time zone, he missed out London session and early New York session. Therefore his strategy is different from others.
Thanks for suggestion of reading BTS and Darko's post. I might find something about London session from their posts.
EDIT: I suddenly recall the memory that Strat said 'Big boys will take the price to somewhere in a particular day with no reason, you don't know which day but you will know when it happens' when I see the example M5 trend trading chart from Strat. It makes sense to me now.

It's only a pair like USD/CAD where the majority of the action takes place while we're asleep.
I did research about active pairs in different sessions but can't find reliable data. Is this conclusion from your observation or you get from somewhere else?

Trade to live, not live to trade.
Yes, as I replied to Rufus, stupid me was checking my trade in a pub on Friday night while everyone was laughing, drinking and dancing!
We don't see things as they are, we see them as we are.
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