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Strat's PASR Long Term, Stress Free Trading

  • #9,601
  • Jan 7, 2019 2:59am Jan 7, 2019 2:59am
Good morning
Gbp Aud Ratio 2

Attached Image (click to enlarge)
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+2%

Good day
  • #9,602
  • Jan 7, 2019 5:59am Jan 7, 2019 5:59am
Quoting Francl
Hello XAUUSD, not that I will trade them but only for learning process.... BB is in trading range for 2 years, now in upswing, crossed ema 20 and 72 and closed above them. {image} B is now in uptrend, crossed and closed above 21, 72 and 200 moving averages, now produced a shooting star and close bellow importand resistance line, also closed bellow 61,8 fibonacci and around suportive TL which was broken once allready and could act now as dynamic resistance. {image} W strong steep uptrend, on friday produced BEOB and closed bellow mentioned resistance...
Agree.

If there are lower TF opportunity if it is a thing for you. For me, I am waiting to see if what it might do, especially if she decide to hit Strat Shadow, then there could be a chance to catch up potentially running trend for the rest of it.

The BUEB around 200ema just remind me that, there will always something on the way of a trend, if I pick up every SR that are less graded. The move from upper TF will just cut through them like butter.
  • #9,603
  • Jan 7, 2019 8:31am Jan 7, 2019 8:31am
Brexit - date for vote confirmed (15 January)

https://www.bbc.com/news/uk-politics-46777987

So we still have to be careful with all the GBP pairs.
  • #9,604
  • Jan 7, 2019 12:38pm Jan 7, 2019 12:38pm
EurNzd 5M Trend Trade:

Paper trade only...

Regards
Pete
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  • #9,605
  • Jan 7, 2019 12:56pm Jan 7, 2019 12:56pm
Quoting Francl
Hello XAUUSD, not that I will trade them but only for learning process.... BB is in trading range for 2 years, now in upswing, crossed ema 20 and 72 and closed above them. {image} B is now in uptrend, crossed and closed above 21, 72 and 200 moving averages, now produced a shooting star and close bellow importand resistance line, also closed bellow 61,8 fibonacci and around suportive TL which was broken once allready and could act now as dynamic resistance. {image} W strong steep uptrend, on friday produced BEOB and closed bellow mentioned resistance...
Hi Francl

My 2 cents worth to add to HT's comments. Looking at your Big Boss chart the last closed candle very bullish straddled the Strat Shadow. Strat has also mentioned somewhere on the thread that one can effectively trade Basic PASR from the Strat Shadow to Support or Resistance and back from Support or Resistance to the Strat Shadow. In this case looking at the lower time frames it could very well be that price is at a wobble area at the moment. I would watch the Shooting star you mentioned to see if it is not a bond shooting star in the making...

Regards
Pete
  • #9,606
  • Jan 7, 2019 2:22pm Jan 7, 2019 2:22pm
Quoting Scrumy
{quote} Hello strat, thanks for your comment and asking. I have made several mistakes there. The biggest one was trying out new things (H1 Basic/Swing PASR) with my normal position size. Second was jumping the gun entries, on M5 but also on H1, didn't wait for the bar to close. Also buying/selling into SR. And in general bad trade management. Taking too much losses, that should have been smaller ones/BE or profits based on PA. And at that one specific day (9 M5 Trades, 27.12.18), I wasn't in that state of mind to be in the market. First couple of...
The biggest one was trying out new things (H1 Basic/Swing PASR) with my normal position size.

You cannot try new things UNTIL you fully UNDERSTAND and can successfully apply Basic PASR, Swing PASR and Trend PASR. I suggest you spend time mastering Basic PASR and being consistent on that BEFORE trying anything else.

Second was jumping the gun entries

Then you are LIVING TO TRADE. PASR traders TRADE TO LIVE.

didn't wait for the bar to close

Rank Amateur trading! PASR is based on CANDLE CLOSE - nothing else.

Also buying/selling into SR.

Rank Amateur trading! PASR trades ACTION at SR.

And in general bad trade management.

Rank Amateur trading! This is like driving a car with your eyes closed!

Taking too much losses,

Rank Amateur trading!

I wasn't in that state of mind to be in the market.

Rank Amateur trading

finally hedged the position and lost twice my planned risk.

Absolute Rank Amateur trading. PASR traders do NOT add to losing positions!

It all comes down to Psychology. Again and again.

That is 2nd. First is LEARNING, UNDERSTANDING and APPLYING PASR

By just using my current stats from the last three weeks I have a win rate of 44.83% on M5.

Pathetic Rank Amateur trading, it should be in excess of 90%

But for now I will protect myself from myself.

That is your BIGGEST challenge

I want to first proof to myself that I can be consistantly profitable, without putting too much money on the line.

You FIRST need to prove to yourself that you have LEARNED and UNDERSTOOD PASR and can successfully and consistently apply PASR before even thinking about money.

I was too much focused on my P/L - now I am more focused on R-Multiple

Who cares about R-Multiple? FOCUS on learning, understanding and applying PASR

You have successfully demonstrated that you have not learned or understood PASR
15 YEARS OF PASR ON FOREX FACTORY!
  • #9,607
  • Jan 7, 2019 2:28pm Jan 7, 2019 2:28pm
Quoting Francl
Hi Strat and fellow traders, Happy New year and Best wishes! I had problems with my back a few weeks (sciatica) so I couldn't sit in front of computer and participating on the thread… now is little bit better. I am reading old thread again from the begining (although I allready came to 500 page....) and I have a few questions: About trend lines- Strat mentioned it a lot but not anymore now so, shall I study it or not at all? In some post in new thread readed that they could be misleading? I found a post of Baba G where I read that around 250 K $...
About trend lines- Strat mentioned it a lot but not anymore now so, shall I study it or not at all?

Your choice - study my post to Suran on USDJPY

I found a post of Baba G where I read that around 250 K $ need to be acount size for a living from trading what discouraged me

That was based on HIS lifestyle! Your trading account size is based on income and expenses to support YOUR lifestyle. If you can live on $20K a year then your trading account size will be much smaller than someone living on $150K a year.
15 YEARS OF PASR ON FOREX FACTORY!
  • #9,608
  • Edited 2:48pm Jan 7, 2019 2:35pm | Edited 2:48pm
Quoting Scrumy
{quote} Hi BeyondTheSea, do you mean that you have only SL of 5 to 10 pips? And you also taking lots of small wins then, right? I still need to develop my own style on that, for sure. Still having a problem when a trade is already in good profit and I watch it going into my SL. But as I am now having a detailed trading journal which will reveal all those questions like should I manage my trades or just leave them? What is my average drawdown on winners? What is my average updraw on loosers? etc.
Still having a problem when a trade is already in good profit and I watch it going into my SL.

Pathetic and absolute Rank Amateur Trading.

should I manage my trades or just leave them?

UNBELIEVABLE!!!!!!

We are TRADE MANAGERS. We are TRADE MANAGERS - NOTHING ELSE. We manage each and every single one of our trades.

We are TRADE MANAGERS - NOTHING ELSE.

What is my average drawdown on winners? What is my average updraw on losers? etc. .

This is of no concern to where you are at now
15 YEARS OF PASR ON FOREX FACTORY!
  • #9,609
  • Jan 7, 2019 2:37pm Jan 7, 2019 2:37pm
Quoting fleurdelys
Good morning Gbp Aud Ratio 2 {image} +2% Good day
Well done
15 YEARS OF PASR ON FOREX FACTORY!
  • #9,610
  • Jan 7, 2019 2:39pm Jan 7, 2019 2:39pm
Quoting Malu
Brexit - date for vote confirmed (15 January) https://www.bbc.com/news/uk-politics-46777987 So we still have to be careful with all the GBP pairs.
Thanks - we need all the volatility we can get.
15 YEARS OF PASR ON FOREX FACTORY!
  • #9,611
  • Jan 7, 2019 2:42pm Jan 7, 2019 2:42pm
Quoting JCMPete
EurNzd 5M Trend Trade: Paper trade only... Regards Pete {image}
While you are getting the hang of it, Pete, look for entries off pull backs to the Strat Shadow to avoid DRAWDOWN - it is much easier on the Little People.

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15 YEARS OF PASR ON FOREX FACTORY!
  • #9,612
  • Jan 7, 2019 3:00pm Jan 7, 2019 3:00pm
Quoting Scrumy
{quote} Hi BeyondTheSea, do you mean that you have only SL of 5 to 10 pips? And you also taking lots of small wins then, right? I still need to develop my own style on that, for sure. Still having a problem when a trade is already in good profit and I watch it going into my SL. But as I am now having a detailed trading journal which will reveal all those questions like should I manage my trades or just leave them? What is my average drawdown on winners? What is my average updraw on loosers? etc.
Hi Scrumy

I see Strat has already given you some advice...

We all trade differently, I need to see momentum when I'm trading 5 min. If I'm not in profit fairly quickly then I'll close or pull my stop close, I'm normally looking for add-ons and need the speed of the market to make my entries work for me. I size positions accordingly so I can re-enter or take another trade with no fear.

Closing out and shutting your book after three losing trades isn't going to help you, as well as re-enforcing a negative mindset it also prevents you from getting practice. REDUCE YOUR SIZE AND TRADE!

Work on knowing when to get out.
Private Msgs are turned off to weirdos, loafs and brain drainers
  • #9,613
  • Edited 4:08pm Jan 7, 2019 3:37pm | Edited 4:08pm
AUD/JPY Basic PASR 1M Trade .

Hello My Family

Entry :

 

  1. 1 a Hammer , I didnt take it because the Sell Pressure was too Strong , i was need to other conformation .
  2. 2 a BUOB ,Made a Higher Low ( I missed it ! )
  3. 3 a BUOB , that was what i am waiting for .

AND
This post was so USEFUL to me " Thank YOU For Every Thing YOU Did For Us "

Quote
...... Can you see the coil forming? As prices near the apex of the wedge, prices are becoming increasingly compressed (absorbing more and more energy). This is like a spring being compressed. What happens when you let go of a compressed spring? The same thing happens with prices in a wedge – coil formation....
#3241
I dont use Trend Lines , I am using my eyes and Strat Shadow to identify the Patterns .
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Regard
There is Light at the End of the Tunnel.
  • #9,614
  • Jan 7, 2019 4:25pm Jan 7, 2019 4:25pm
Quoting strat
{quote} The biggest one was trying out new things (H1 Basic/Swing PASR) with my normal position size. You cannot try new things UNTIL you fully UNDERSTAND and can successfully apply Basic PASR, Swing PASR and Trend PASR. I suggest you spend time mastering Basic PASR and being consistent on that BEFORE trying anything else. Second was jumping the gun entries Then you are LIVING TO TRADE. PASR traders TRADE TO LIVE. didn't wait for the bar to close Rank Amateur trading! PASR is based on CANDLE CLOSE - nothing else. Also buying/selling into SR. Rank...
Hey strat,

thanks for your input. Hmm, I have the feeling that I am the dumbest idiot not able to apply PASR. As I already mentioned in that post https://www.forexfactory.com/showthr...3#post11758523

"Can't I trade Trend PASR with my current knowledge? I (think I) understood Basic PASR and Swing PASR. But I am more focused on Trend PASR. What obvious am I missing? Can someone ask me a question that identifies if I understand it or not?"

Your winrate is far out of reach - as I am a rank amateur, currently only providing liquidity to the market. How about the fellow students winrates? Is yours the same as strat's? It would be very interesting to see some stats. As an example: for me a winrate of 45% on a RRR 1:1.5 trading system is already acceptable and profitable.

Do I have the wrong expectations (too low)? Am I satisfied with a winrate of 45% cause "others" are satisfied with this? I just don't have the knowledge to answer it on my own. Have I set boundaries from my current knowledge, which can easily be exceeded? Reminds me of George Dantzig "In statistics, Dantzig solved two open problems in statistical theory, which he had mistaken for homework after arriving late to a lecture...", see https://en.wikipedia.org/wiki/George_Dantzig

Strat I am trading like an amateur, because I am exactly that. We learn by doing mistakes. From my perspective I quite follow a good approach on the path of this trading carreer - the most important having a detailed trading journal. Analyzing each trade. Making my conclusions and trying to apply what I have read, learnt and understood about PASR as of now. Still not finished. As said I have a couple of months of reading, learning, understanding and - the most important - applying PASR ahead of me.
Accept the risk!
  • #9,615
  • Jan 7, 2019 4:30pm Jan 7, 2019 4:30pm
Quoting strat
{quote} Still having a problem when a trade is already in good profit and I watch it going into my SL. Pathetic and absolute Rank Amateur Trading. should I manage my trades or just leave them? UNBELIEVABLE!!!!!! We are TRADE MANAGERS. We are TRADE MANAGERS - NOTHING ELSE. We manage each and every single one of our trades. We are TRADE MANAGERS - NOTHING ELSE. What is my average drawdown on winners? What is my average updraw on losers? etc. . This is of no concern to where you are at now
Ok, got it. As I understood having losses is just part of the business. And when I enter the trade and it goes directly into my SL, without much chance of gettting out - how should I manage that trade?

I show you an example of that. How would you fellow students manage that trade? How would your rate that trade in general?

The reasons for the entry:

  1. Strat Shadow in good shape (down)
  2. Price below EMA200
  3. Price rejected off Strat Shadow with good momentum
  4. Price crossed my SR area
  5. Entry not too tight below Set Up candle


Attached Image (click to enlarge)
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Accept the risk!
  • #9,616
  • Jan 7, 2019 4:45pm Jan 7, 2019 4:45pm
Quoting BeyondTheSea
{quote} Hi Scrumy I see Strat has already given you some advice... We all trade differently, I need to see momentum when I'm trading 5 min. If I'm not in profit fairly quickly then I'll close or pull my stop close, I'm normally looking for add-ons and need the speed of the market to make my entries work for me. I size positions accordingly so I can re-enter or take another trade with no fear. Closing out and shutting your book after three losing trades isn't going to help you, as well as re-enforcing a negative mindset it also prevents you from...
BeyondTheSea, thanks for your time and comment.

I used today's session to get my hands on trade management as well. See attached example of M5 EURUSD of today. I exited the first trade because I didn't like the PA, right after my entry that pulling and pushing of price with big candles and price not being able to go higher leaving a double top. Reentered later when price closed above that level of resistance. Exiting the first trade was very good as otherwise my SL of 8.5 Pips would have been hit.

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As I mentioned, I moved to microlots now. And will continue to apply what I have learnt so far.
Accept the risk!
  • #9,617
  • Jan 7, 2019 5:30pm Jan 7, 2019 5:30pm
Quoting Scrumy
{quote} BeyondTheSea, thanks for your time and comment. I used today's session to get my hands on trade management as well. See attached example of M5 EURUSD of today. I exited the first trade because I didn't like the PA, right after my entry that pulling and pushing of price with big candles and price not being able to go higher leaving a double top. Reentered later when price closed above that level of resistance. Exiting the first trade was very good as otherwise my SL of 8.5 Pips would have been hit. {image} As I mentioned, I moved to microlots...

One Year ago, when i move from Futures Intraday (short term) to again Forex but LONG TERM PASR (With my previous knoweldge and then apply PASR, that in fact im using PASR only) was kinda crazy at the start... Because the larger StopLoss...

So i have to start learning with microlots.. the minium... Just dont think in "win big money" right now... Think in ur stoploss, in your risk....

Just think about it, i was trading and the minium 1 contract of Future is aprox 5usd the point (in ES MINI is $12.50 the tick if i remember) and moving to a microlots where the minium is 0.10 cents the point hahah was crazy, but i decide that im going to learn in a live account without risking my wallet (that u are risking it but in a "micro" way...) When you got more trust and confidence in urself.. now u start incrasing the microlots... and going on...

Doing that u can place the stoploss where has to be always without thinking (is too much..) and focus that dont reduce ur balance.. Keep it growing and doesnt metter that is just a few dollars... Just dont reduce it.

Month After Month, automaticaly u are going to incrase contracts and when u realize how much is ur balance u are going to see even with microlots and add ons.. u make money.
  • #9,618
  • Edited Jan 8, 2019 7:37am Jan 7, 2019 9:24pm | Edited Jan 8, 2019 7:37am
Attachment gAttachment g
Hey everyone, it's great to find a active forum based off of price action. I am going through this thread and have the basics down and i would like to start posting some charts and getting involved. I've been trading off and on for many years but can never stay consistently profitable, always bouncing around from product to product and time frame to time frame but i always stick with price action.
The shorter time frames fit my personality better and i feel more comfortable trading them, but I've been trading the /es which is way to big for my account so i am coming back to forex for the flexibility of lot sizes.
Thank you Strat for putting this out here and actively participating, this kind of training is just what I need.
I really like the 5 min approach you have here and I started looking today for entries. I live in eastern time zone so i have no problem getting to a computer for New York open

I wanted to get into EUR/USD today but i didn't get the pullback I was looking for


After the breakout over the London high I was looking for a pullback but i was expecting a little more and never pulled the trigger. Just wondering if anyone here took that trade, or would have taken it and where you would have entered

Edit: Chart on next post. Learning how to post charts, think I have it now
Nick
  • #9,619
  • Jan 7, 2019 9:26pm Jan 7, 2019 9:26pm
Sorry lets see if this chart looks better


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first verticle line is london open second is NY
Nick
  • #9,620
  • Jan 7, 2019 10:15pm Jan 7, 2019 10:15pm
Quoting Scrumy
{quote} Hey strat, thanks for your input. Hmm, I have the feeling that I am the dumbest idiot not able to apply PASR. As I already mentioned in that post https://www.forexfactory.com/showthr...3#post11758523 "Can't I trade Trend PASR with my current knowledge? I (think I) understood Basic PASR and Swing PASR. But I am more focused on Trend PASR. What obvious am I missing? Can someone ask me a question that identifies if I understand it or not?" Your winrate is far out of reach - as I am a rank amateur, currently only providing...
I recently posted my summery for the last year, have a look at that if you'd like to know.
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