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Strat's PASR Long Term, Stress Free Trading

  • #8,941
  • Nov 23, 2018 5:58am Nov 23, 2018 5:58am
Quoting celguek
From now on, I'm giving myself time to learn your method......

Yap, I second what Malu said. too many lines..Horizontal lines and vertical strips.and many colors.. can't even see the candles.. See Strat's (and others) charts..clean and clear..

Strat advised to draw S/R lines in Gray color. His 200 MA also a dashed line. because otherwise you will see them as barriers..or walls..


regards
Focus, Patience, Discipline, Determination and Perseverance
  • #8,942
  • Nov 23, 2018 6:31am Nov 23, 2018 6:31am
Quoting Suran
{quote} Yap, I second what Malu said. too many lines..Horizontal lines and vertical strips.and many colors.. can't even see the candles.. See Strat's (and others) charts..clean and clear.. Strat advised to draw S/R lines in Gray color. His 200 MA also a dashed line. because otherwise you will see them as barriers..or walls.. regards
Quoting Malu
{quote} I also think that you have too many lines on your chart. I understand that at the beginning it is not easy to draw S/R and too many lines could confuse you. Maybe it helps just to draw the next support-line (that is below the price) and the next resistance-line (above the price). For each timeframe, of course.
Thank you for the advices.
Baby steps for me.

Anyway, how do you multi quote in a simple way?
  • #8,943
  • Nov 23, 2018 6:48am Nov 23, 2018 6:48am
Quoting celguek
{quote} {quote} Thank you for the advices. Baby steps for me. Anyway, how do you multi quote in a simple way?
Anyway, how do you multi quote in a simple way?

Not sure if there any simple way. I just copy and paste quotes.
Focus, Patience, Discipline, Determination and Perseverance
  • #8,944
  • Nov 23, 2018 7:10am Nov 23, 2018 7:10am
Hi Strat and team,

Am I seeing a live example of Depth Gauge and subsequent price action ? Is that Hammer candle (second candle) good place to go long? it happened at S/R zone..

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P.S. If it was a periscope I would have jumped in. But depth gauge after all that selling ..bit cautious I am..
Focus, Patience, Discipline, Determination and Perseverance
  • #8,945
  • Nov 23, 2018 8:02am Nov 23, 2018 8:02am
Quoting Suran
Hi all, EURNZD I was in this trade today. H1- I saw this two doji type Shooting stars at swing high and at S/R level. {image} M5- I was managing the trade in M5 That massive candle at London open gave me goose bumps. So took what ever available(60+ pips) at the time. {image} Enough for the day. back to reading.. Suranga
Nice nab out of the market.

That candle happened for me durring …

"Had a Thanksgiving dinner that couldn't be beat" to quote a favorite song of mine "Alice's Restaurant"
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #8,946
  • Nov 23, 2018 8:09am Nov 23, 2018 8:09am
Quoting Suran
Hi Strat and team, Am I seeing a live example of Depth Gauge and subsequent price action ? Is that Hammer candle (second candle) good place to go long? it happened at S/R zone.. {image} P.S. If it was a periscope I would have jumped in. But depth gauge after all that selling ..bit cautious I am..
Our data is quite different on that one. Might be some funny business going on with the lower volume? Maybe Strat can shed some light on the big difference.

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Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #8,947
  • Nov 23, 2018 8:43am Nov 23, 2018 8:43am
Quoting Rufus
{quote} Our data is quite different on that one. Might be some funny business going on with the lower volume? Maybe Strat can shed some light on the big difference. {image}
Yeah same as mine
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  • #8,948
  • Nov 23, 2018 9:27am Nov 23, 2018 9:27am
Quoting Rufus
{quote} Our data is quite different on that one. Might be some funny business going on with the lower volume? Maybe Strat can shed some light on the big difference. {image}
Oh I see .Both of you and terry's charts same. In my chart do you think the nose should be longer (for a depth gauge)? It's sort of like Hammer to me now..
Focus, Patience, Discipline, Determination and Perseverance
  • #8,949
  • Nov 23, 2018 9:49am Nov 23, 2018 9:49am
USDJPY

Here is a trade I am in, I rather liked the weekly chart so I entered as shown on the 4H chart, I am sure that there will be some criticism of this, however it is small risk and still might have potential.
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I look forward to your comments.
  • #8,950
  • Nov 23, 2018 12:15pm Nov 23, 2018 12:15pm
Quoting LarryK
USDJPY Here is a trade I am in, I rather liked the weekly chart so I entered as shown on the 4H chart, I am sure that there will be some criticism of this, however it is small risk and still might have potential.{image}{image} I look forward to your comments.
This pair has been in a 220 pip WCC for the past six weeks so it is a reasonable range to swing trade the lower time frames if one so desires. However price is pretty much right in the center of the WCC so not the best area to enter any trade.

The Daily up swing was confirmed on Wednesday so the Boss of the H4 would be directing an up move, potentially back to BRN 113, even though this may be just a retrace on the daily down swing.

A few hours ago the H1 and H4 printed a pretty bullish bar at support as well which also supports an up move.

Also pretty small RR on the short side.

Just my opinion.
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  • #8,951
  • Nov 23, 2018 11:04pm Nov 23, 2018 11:04pm
USDJPY

Thanks for the comments Terry.

I think your platform is a bit different to mine, the candles on 4H don't match mine.

The reason I liked the weekly chart because on my platform it shows a BEEB, coming off a R at 114, so I am looking for a continuation down to 108 or lower. If that doesn't happen and subsequent PA looks wrong then I can exit probably before the stop I currently have in place. The 4H is still showing lower highs and lower lows since I entered so I can justify remaining in the trade.
  • #8,952
  • Edited 9:05am Nov 24, 2018 7:53am | Edited 9:05am
Quoting LarryK
USDJPY Thanks for the comments Terry. I think your platform is a bit different to mine, the candles on 4H don't match mine. The reason I liked the weekly chart because on my platform it shows a BEEB, coming off a R at 114, so I am looking for a continuation down to 108 or lower. If that doesn't happen and subsequent PA looks wrong then I can exit probably before the stop I currently have in place. The 4H is still showing lower highs and lower lows since I entered so I can justify remaining in the trade.
Good points Larry,
Price definitely finding resistance at 113 to 114 area as this has been tested numerous times since the beginning of 2017.

My comments were based on the structure of the shadow on Big Boss, Boss and worker with all three being positive.

Also even though within a WCC, the Boss swing low was confirmed with a failed BEOB the week of October 21st as it was immediately followed by a BUEB.
It seems that for the near term price may just whiz up and down within the WCC until a decision is made to go one way or the other, so this pair is probably left alone until that direction is provided by the Big Boys.


For support of the short side trading, even though the worker has a confirmed swing low, price has not been able to close above that confirming candle which closed at 113 and may indeed roll over. So this recent bounce may just be a retrace on the worker down trend since November 9th.
  • #8,953
  • Nov 24, 2018 8:16am Nov 24, 2018 8:16am
Quoting strat
EURCAD {quote} Take note of comments from Suran and Rub - TRADERS HELPING TRADERS The Big Boss is in a Trading Range from BRN 1.38 to 1.61 {image} Boss is making lower lows/highs and is now in an weekly control candle, but rejected twice from 200MA PRICE is SUPPORTED by 200 ema BUT rejected by the Strat Shadow AND resistance BEEB at the top of the WCC, so i would set a sell trade. But i am unsure where to set my tp. Because with the support at 1.493 i have a bad RR But i am unsure where to set my tp. Because with the support at 1.493 i have a bad...
I have the same view as suran's post
And I did enter a long position this week.

Although it finally is a break even trade,
I would like to ask a few questions regarding my trade.

As my view on this trade is there is support on Big boss support.
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So I drag down to the H4 to look for a good entry.
And enter at the blue arrow.
The trade went up for 100pips (moved my stop lost at break even) and break the next resistance with BUEB.
My first question is if I did add-on here, is this a correct entry?
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On the Worker chart, it clearly show a PA on 200EMA, and my position hit my break even stop lost.
My second question is, although I think I am doing correctly. Is this a valid exit?
Or I should hold until the prize close as a lower low?
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Regards,
Brian
  • #8,954
  • Nov 24, 2018 10:43am Nov 24, 2018 10:43am
Quoting Suran
Hi Strat and team, Am I seeing a live example of Depth Gauge and subsequent price action ? Is that Hammer candle (second candle) good place to go long? it happened at S/R zone.. {image} P.S. If it was a periscope I would have jumped in. But depth gauge after all that selling ..bit cautious I am..
Hi to all.
On the weekly the pair seems to be heading south, rejected by RN 0.9100 and probably directed towards support in the 0.8900 area.
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Frank
  • #8,955
  • Nov 24, 2018 10:54am Nov 24, 2018 10:54am
EURAUD M5

Quoting Scrumy
{quote} For me, the only valid PASR sign would have been the BEOB, see attached image. If I would have been in that trade, my SL would have been hit, too - just like Malu's. Do I miss some other important PASR here? I also question if it is a valid BEOB - the high's seem to be pretty close together. Also on my data feed, lots of candles look completely different. {image} Edit: FYI - see my data feed on EURAUD M5 {image} Edit 2: Answering my own post. Was focusing to much on "PA setup candles" to leave the trade. But on M5 we should just ride the...
Scrumy, Malu and all others facing this situation need to take note.

Using Suran's double top chart, which is spot on (good job, Suranga):

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There is nothing wrong with either the entry or the stop loss. Where it all falls to pieces is after that.

Like Suran said, there were no SR levels on the chart. WHY? Had there been, maybe the resistance at "H" would have been seen. The long wick on that high candle at "H" indicates profit taking. Many would not get out there as they are in "trend mode" ""hoping"" for bigger profits.

Profits continue to be taken by those who entered much earlier causing PRICE to fall back to support of the Strat Shadow at ""L"". This was followed by a BUEB which is reasonable to think the trend is going to continue, which it does until ""A"". At this point, the PRICE structure has ALREADY given us a HIGH followed by a LOW and if PRICE at "A" cannot CLOSE above the resistance of "H" then the PROBABILITY of a swing failure and LOWER HIGH are much greater than PRICE going higher.

The hanging man inside candle after "A" is PASR to get the "Hell out of Dodge" and exit with whatever pips we have. To continue holding positions when this and the H-L-LH PRICE structure is in place is a clear sign you don't know what you don't know - PASR!

So, you don't exit your positions and instead "HOLD ON" believing (wishing, hoping, thinking and praying) PRICE will continue to trend higher.

PRICE then drops down to a "LOWER LOW" "LL", and finds support again at the Strat Shadow. Malu - why didn't this trigger your Stop Loss?

The Market is now very kind and gives you a 3rd opportunity to get out in profit "B" by producing the Double Top structure identified by Suran. Not getting out here at RESISTANCE, DOUBLE TOP, LONG WICKS (PASR) and a FLATTENING, DECREASING Strat Shadow shows a total ignorance of PASR and PRICE ACTION.

To summarise, when you enter a trade, EXPECT THE WORST - NEVER think of profits and all the $ you are going to make. If you do this, you have invited your Little People to "party" at your expense - in other words, they are CONTROLLING you!

Unlike wiggly, squiggly lines, PRICE charts do not lie. There is nothing hidden in PRICE charts - all is laid bare for all to SEE. When you spend the thousands of hours studying PASR on thousands of charts, you will SEE and act on this.

Just because you have a PLAN which identifies your Stop Loss doesn't mean you watch PRICE take it out when ALL THE SIGNS above are present. Your PLAN was made many candles prior and based on PASR at THAT TIME. PRICE sentiment and conditions change in a heart beat meaning that if the current conditions are not the same as those when you created your PLAN then just GET OUT. This is why I have 6 words in RED at the top right corner of ALL my charts.

My acid test for ongoing trades is ""Would I still buy/sell at where PRICE and sentiment is NOW?"". IF IN DOUBT - GET OUT. If you were wrong, you can always get back in again.

Remember:

It is better to be out of a trade wishing you were in than being in a trade wishing you were out!

If none of this ""worked" then our No 1 Rule should have got you out.

Everything is in the PRICE charts - there are no secrets - nothing is hidden - study, learn and UNDERSTAND PASR to SEE what the PRICE charts tell us.
15 YEARS OF PASR ON FOREX FACTORY!
  • #8,956
  • Nov 24, 2018 10:59am Nov 24, 2018 10:59am
Quoting Malu
{quote} Thanks Strat. Yes it is real , hard earned money I trade with.
Markus - did you forget Rule No 1?
15 YEARS OF PASR ON FOREX FACTORY!
  • #8,957
  • Nov 24, 2018 11:12am Nov 24, 2018 11:12am
EURAUD M5

Quoting Scrumy
{quote} For me, the only valid PASR sign would have been the BEOB, see attached image. If I would have been in that trade, my SL would have been hit, too - just like Malu's. Do I miss some other important PASR here? I also question if it is a valid BEOB - the high's seem to be pretty close together. Also on my data feed, lots of candles look completely different. {image} Edit: FYI - see my data feed on EURAUD M5 {image} Edit 2: Answering my own post. Was focusing to much on "PA setup candles" to leave the trade. But on M5 we should just ride the...
Was focusing too much on "PA setup candles" to leave the trade.

PASR Set Up is HISTORY after entering a trade. Once in a trade, your FOCUS in trade management is to MAKE MONEY while PROTECTING your trade account.

But on M5 we should just ride the trend until some signs for reversal appear.

NO! When you UNDERSTAND PASR you can apply all 3 PASR strategies - Basic PASR, Swing PASR and Trend PASR.

When PASR trend trading, we do NOT just ride the trend until some signs for reversal appear. We hold and Add On to our positions until there is reverse PASR.

I guess we should just exit,

Professional and experienced PASR traders NEVER ""guess""! We leave that to the newbies, rookies, lurkers, trolls, time wasters and followers of wiggly, squiggly lines.

PASR traders exit when price can't go through that significant level with lots of upper wicks. Leave the trade, book the minimal profit/breakeven or even minimal loss and let the it run without you.

Good, except that significant level is SR!
15 YEARS OF PASR ON FOREX FACTORY!
  • #8,958
  • Nov 24, 2018 11:19am Nov 24, 2018 11:19am
PASR THE PATH

Quoting Malu
{quote} You are right regarding step 4. Have to work on that. I try to trade with no emotions, like hanging .... But that doesn’t work yet. Greetings, Markus
Don't force it, Markus. You have your whole trading life in front of you.

""Emotionless" trading does not exist. No matter how experienced we are in trading, we ALL have emotions - we have to train ourselves to handle our emotions.

Learn to crawl before you walk then learn to walk before you run. Take your time and it will happen. Force it and you will screw up!
15 YEARS OF PASR ON FOREX FACTORY!
  • #8,959
  • Nov 24, 2018 11:30am Nov 24, 2018 11:30am
Trading Psychology

Quoting Scrumy
{quote} Same for me. The hard part IS psychology. We are the weakest when we are INSIDE the trade and little people start talking to you. "If a trader is in a trade and hears both bullish and bearish news - he gives those news more weight depending on the side he is on - bullish news more weight when he bought, bearish news more weight when he sold". And when we are not in that trade, we literally don't care .
The hard part IS psychology.

Good, Scrumy! So many on here and other threads PLUS all the lurkers, trolls, wannabees, newbies, time wasters etc., either don't recognise it or, worse still, think it does not apply to them.

No matter how experienced you are in trading your strategy, if you cannot control your GREED and FEAR emotions you will LOSE! Simple as that. Many of the so called, self acclaimed "experts" and "gurus" laughed and ridiculed me when I wrote in my "old" original 2009 thread that trading is 95% psychology and 5% strategy. Where are those self acclaimed "experts" and "gurus" now? I am STILL here!
15 YEARS OF PASR ON FOREX FACTORY!
  • #8,960
  • Nov 24, 2018 11:45am Nov 24, 2018 11:45am
AUDJPY
Monthly : The long term trend is Bearish. And the Price is consolidating for 4 months.
Weekly : The price rejected by the strat shadow and closed below my support with a BEEB.
Daily : Fromed a double top last week and get back under the 200EMA.
Plan : Look for a PA at H4 with 1:2 or 1:3 R:R, targeting 79.000
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