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Strat's PASR Long Term, Stress Free Trading

  • #8,601
  • Nov 11, 2018 6:49am Nov 11, 2018 6:49am
Quoting Suran
{quote} 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....
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.
Thank you very much to point this out Suran. I have never thought about this. I need to seriously think about it.

The M5 example chart you post here is so helpful. one picture is worth a thousand words. Thank you for that.
We don't see things as they are, we see them as we are.
  • #8,602
  • Nov 11, 2018 7:57am Nov 11, 2018 7:57am
Quoting JCMPete
{quote} EurAud It's near support and I will start trailing my SL soon. Hi TampaFX Another option could be to watch for exit candles near SR Regards Pete
I elected to take 1/2 of my position off at 1R (as originally planned) and trail the remaining. I knew going in this trade would most likely find support around 1.5650.

Thanks for the reply!
Successful people do what unsuccessful people are not willing to do
  • #8,603
  • Nov 11, 2018 9:57am Nov 11, 2018 9:57am
GBPJPY

Quoting Suran
{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...
See my blue arrow

Attached Image (click to enlarge)
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15 YEARS OF PASR ON FOREX FACTORY!
  • #8,604
  • Nov 11, 2018 9:59am Nov 11, 2018 9:59am
NZDJPY M5

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...
Words fail me!
15 YEARS OF PASR ON FOREX FACTORY!
  • #8,605
  • Nov 11, 2018 10:06am Nov 11, 2018 10:06am
Psycho?

Quoting Victoria2017
{quote} 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.
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.

Did you go back and READ what you wrote?

Your first sentence is asking permission to ""short cut"" THE PATH (which is a reason to go on my IGNORE list)

The next sentence is ""to warn myself not do do it.""

Are you really this ""screwed up""? You have no chance in trading if you are not "clear" in your head/mind!
15 YEARS OF PASR ON FOREX FACTORY!
  • #8,606
  • Nov 11, 2018 10:09am Nov 11, 2018 10:09am
CADJPY Swing PASR

Quoting MikuSS
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. {image} H4 (Boss) presented a exhaustion candle, showing that the buyers were leaving the game. {image} H1 (Worker): I placed two sell stops (blue ones )below the two candles. {image} In hindsight, perhaps adding positions on the pullback...
Good, Miku, but think what the possibilities are on more volatile pairs if you can do this on low volatility pairs.
15 YEARS OF PASR ON FOREX FACTORY!
  • #8,607
  • Nov 11, 2018 10:10am Nov 11, 2018 10:10am
EURJPY Swing PASR

Quoting MikuSS
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. {image} Boss (H4): This candle with the red arrow confirms swing high. {image} 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. {image} Will monitor on H1 and H4 and add positions if possible.
Good, Miku, but think what the possibilities are on more volatile pairs if you can do this on low volatility pairs.
15 YEARS OF PASR ON FOREX FACTORY!
  • #8,608
  • Nov 11, 2018 10:12am Nov 11, 2018 10:12am
AUDUSD

Quoting MikuSS
AUDUSD A Shooting Star! (Or not?) {image}
Definitely a Shooting Star but.............................................
15 YEARS OF PASR ON FOREX FACTORY!
  • #8,609
  • Nov 11, 2018 10:16am Nov 11, 2018 10:16am
Stop Losses

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...
Confirming Suran's comments - TRADER HELPING TRADERS:

Go back and search Roger's (No1Optimist) posts in my "old" original thread. He initially ""suffered"" with too tight Stop Loss placement having got everything else right. He ended up with smaller position sizes to allow for 11/2 and sometimes 2 times ATR 10. Then watch what happened to his performance.
15 YEARS OF PASR ON FOREX FACTORY!
  • #8,610
  • Nov 11, 2018 11:27am Nov 11, 2018 11:27am
Quoting Suran
{quote} 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....
I think I also should get in to bombard you (along with others). That's fun ha ha..

No, its NOT. Please SHOW and HAVE RESPECT for others.
15 YEARS OF PASR ON FOREX FACTORY!
  • #8,611
  • Edited 11:54am Nov 11, 2018 11:39am | Edited 11:54am
Quoting strat
{quote} I think I also should get in to bombard you (along with others). That's fun ha ha.. No, its NOT. Please SHOW and HAVE RESPECT for others.
No, its NOT. Please SHOW and HAVE RESPECT for others.

Oh, sorry. I didn't meant it that way. I never disrespect anybody here.

Sorry Victoria , if you felt it that way.



P.S. If any of you thinks it that way ..then it means I should re-think the way I use language here.
Focus, Patience, Discipline, Determination and Perseverance
  • #8,612
  • Nov 11, 2018 3:48pm Nov 11, 2018 3:48pm
Quoting strat
AUDUSD {quote} Definitely a Shooting Star but.............................................
The best ones have space to the left. This has very little...………………………………………… Becomes a shotting star. (Play on words for our non-English speaking traders)


Attached Image (click to enlarge)
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Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #8,613
  • Edited 5:20pm Nov 11, 2018 5:01pm | Edited 5:20pm
Quoting strat
AUDUSD {quote} Definitely a Shooting Star but.............................................
but it is right above of SR?
It is still not confirmed as swing high?
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot2.png Size: 79 KB


I'll be spending more time to read around PASR threads and archived site and rearrange my notes focusing on particular topics.
I've been in knowing myself "don't know what I don't know" for past couple weeks. Now I know some of what I don't know, I need time to get back to them, a lot of time.
I'll post less here, may be some short replies. I'll still post if any basic PASR interest me as usual.

Hope Strat don't put a 'lurker' tag on me.
  • #8,614
  • Nov 11, 2018 5:21pm Nov 11, 2018 5:21pm
Quoting huatzhi
{quote} but it is right above of SR? It is still not confirmed as swing high? {image}
Hi Huatzhi,
Shooting Star only appears at the end of the uptrend below resistance.

It is not even an inverted hammer, because it is not at the end of a downtrend.

I would prefer to call it a weak Shooting Star, ( no space to the left, no strong resistance zone above). Or even a Bond Shooting Star as termed by Strat.

Maybe Shotting Star is a good name as well (Thanks Rufus!)
  • #8,615
  • Nov 11, 2018 6:14pm Nov 11, 2018 6:14pm
Quoting strat
Psycho? {quote} 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. Did you go back and READ what you wrote? Your first sentence is asking permission to ""short cut"" THE PATH (which is a reason to go on my IGNORE list) The next sentence is ""to warn myself not do do it."" Are you really this ""screwed up""? You have no chance in trading if you are not "clear" in your head/mind!
No no, Strat,
That was a serious miscommunication. Well, it is from my side. I didn't state clearly.
When I saw TampaFX's words, I went to the post straight away. Then I instantly realize it was shot cut.
Had a quick glance those posts, I found that was a conversation between you and a new student. I thought that was a good material for me to read as I am a new student like him/her. I started to think how Strat will think about this that time. Then I answered myself that he will allow me to do this particular thing.
'Short cut' is my weakness I am working on now. I successfully stopped myself once from it in my day job recently. This was why I wrote on one post 'learning trading can benefit my day job'.
I don't want to use it as an excuse but English is not my mother tongue might be the reason this time.
The NZD/JPY M5 trade was a disaster for me.
One of the reasons I posted is I want to be honest to myself and face my failure.
We don't see things as they are, we see them as we are.
  • #8,616
  • Nov 11, 2018 9:45pm Nov 11, 2018 9:45pm
Quoting MikuSS
{quote} Hi Redeemer, Haven't you been here before? I saw your name on the beginning of this thread.
nope buddy i just been here recently
  • #8,617
  • Nov 11, 2018 10:15pm Nov 11, 2018 10:15pm
Quoting Victoria2017
{quote} 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...
Why did you not follow your trading plan? It's not there to look pretty!
  • #8,618
  • Nov 11, 2018 10:59pm Nov 11, 2018 10:59pm
Quoting Rufus
{quote} The best ones have space to the left. This has very little...………………………………………… Becomes a shotting star. (Play on words for our non-English speaking traders) {image}

Shooting Stars


IMHO, these are classic shooting stars exactly.
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  • #8,619
  • Nov 12, 2018 1:10am Nov 12, 2018 1:10am
For what it's worth I've entered AUD/USD short after Thursday's candle last week. To me price was stalling approaching resistance, with a target that was greater than 1:1. Maybe I'm starting to "see beyond the candles", maybe I'm just being a nufty.
Attached Image (click to enlarge)
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  • #8,620
  • Nov 12, 2018 2:02am Nov 12, 2018 2:02am
Quoting Rub
For what it's worth I've entered AUD/USD short after Thursday's candle last week. To me price was stalling approaching resistance, with a target that was greater than 1:1. Maybe I'm starting to "see beyond the candles", maybe I'm just being a nufty. {image}
Hi Rub,

That is an inside candle setup right? Have you been trading inside bars for a long time?

Trading is all about probabilities. This Shooting Star is still a little far away from the next resistance. However, it is still ok because Weekly Control Candle rejected it.

It will be better if there are more confluences.
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