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Strat's PASR Long Term, Stress Free Trading

  • #9,721
  • Jan 10, 2019 8:30pm Jan 10, 2019 8:30pm
EURCAD didn't confirm on the daily so no demo trade for me there.

GBPNZD: BB in downtrend, price rejected off the top of the strat shadow (is that trademarked?!) September and October (Sept. looks like a shooting star that wasn't confirmed until Nov.), price fell through the shadow and was rejected off the 72EMA in Dec and again this month. Boss in a downtrend, price rejected off the top of the shadow last week, the 20EMA is be pulled across the 72EMA due to this week's move, and price has not found buyer support above resistance at 1.89171ish. Worker is in a downtrend, price rejected off the top of the strat shadow on 12/31 with what looks like a shooting star (although there was no gap up); price then move down under the support at 1.8917ish and then was rejected off that as resistance and has now moved down. However price is just on the bottom of the strat shadow and I'm wondering if it will slide through it or bounce off.

A better entry was two days ago after rejection from the resistance. Now I would put a sell stop under the most recent lows at about 1.8733 with a TP at next support around 1.852 with an SL just above resistance at 1.8917.

BB:
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B:
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W:
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  • #9,722
  • Jan 10, 2019 9:22pm Jan 10, 2019 9:22pm
Quoting HappyTrend
{quote} If you Entry based a H4... Then you should Manage the Trade Daily or MINIUM H4... But with the Daily automatically ur R:R has been incrased....

Yes HT, working on that. But my little people gets in the middle..

thanks
Focus, Patience, Discipline, Determination and Perseverance
  • #9,723
  • Jan 10, 2019 10:11pm Jan 10, 2019 10:11pm
Quoting Plateaus
{quote} Hi Rub, thanks for sharing. It closed as a BEEOB on my data. Would the longer lower wick be something to worry about? Also, with the vote on Brexit scheduled for the 15th, I think I'll stay away. You never know what those politicians are up to. best peter
I shared it as something I am keeping an eye on, with both GBP and AUD news today it could be quite volatile. You have to make your own decisions if it's something you are going to enter and what you will risk. At the moment it's worth bearing in mind BREXIT.
  • #9,724
  • Jan 11, 2019 8:09am Jan 11, 2019 8:09am
BE looooooooool
I explain on the newspaper
https://www.forexfactory.com/attachm...8&d=1547197550
Good weekend to all
  • #9,725
  • Jan 11, 2019 8:34am Jan 11, 2019 8:34am
Hi All

Just wanted to wish Strat and all regulars here a happy and profitable new year.

I still keep an eye out here but not posting. I am trading about 8 pairs with the lowest spreads, my charts are completely naked except for a couple of SR lines, trading .01 lots until completely satisfied that the little people are under control, and I stop getting out of profitable trades too early.

Strat you have taught me a lot and i am grateful for that, thank you.
  • #9,726
  • Jan 11, 2019 8:38am Jan 11, 2019 8:38am
EUR GBP M5 Trend Trading

At least I could +20 pips out of this trade.
Happy weekend to all.
Greetings Markus

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  • #9,727
  • Jan 11, 2019 9:29am Jan 11, 2019 9:29am
Volatility is SO LOW in PST I am having to trade EURGBP to earn pips!

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15 YEARS OF PASR ON FOREX FACTORY!
  • #9,728
  • Jan 11, 2019 9:49am Jan 11, 2019 9:49am
Quoting Suran
{quote} Hi strat, Thanks for comment, This is NOT my M5 strategy Why are you trading before London open? This is not a M5 trade, My trade was based on H4 spining top /inside bar (coil) combo's at Resistance. My plan was to trade it 1.27107 level, But when I saw PRICE action at New York open (at 1.27343) I decided to exit based on M5 chart.May be wrong thing to do. {image} Then again Its not a good trade considering R:R This hopefully answers to your remaining questions also. Suranga
Sorry for the misunderstanding on M5 Suranga.

Why were you looking to short GBPUSD on H4 when this and all 3 higher time frames are in UP trend? You should have been looking and waiting for a pull back to enter long.
15 YEARS OF PASR ON FOREX FACTORY!
  • #9,729
  • Jan 11, 2019 10:07am Jan 11, 2019 10:07am
GBPUSD M15 Basic PASR

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Looks like NY is waiting for something later in the day.
15 YEARS OF PASR ON FOREX FACTORY!
  • #9,730
  • Jan 11, 2019 10:20am Jan 11, 2019 10:20am
Quoting Plateaus
Happy 2019 all!! as I continue the journey, I had some time to practice during the year end. One day all of my trades hit my SLs which was a wakeup call. I was doing it all wrong. I looked at it, and I was being careless, trying to "predict" where price would go instead of looking for valid PA setups on SR lines. I decided to stop demoing, re-read my notes on the thread and went to F12 acting only on shooting stars and hammers. Now I'm back to doing both the F12 testing (still SS and hammers for now) and the demo trades (Basic PASR). I have also...
as I continue the journey,

It seems like you are taking learning PASR seriously so let's help you along THE PATH.

One day all of my trades hit my SLs which was a wakeup call. I was doing it all wrong.

Yet another example of taking a very successful and consistently profitable strategy and screwing it up by incorrect understanding and application

I was being careless, trying to "predict" where price would go instead of looking for valid PA setups on SR lines.

So this tells me you either flash read or you do not absorb the information you are reading and trying to learn.

re-read my notes on the thread

How do you know your notes are correct? Go back and read THE PATH, not your notes

went to F12 acting only on shooting stars and hammers.

This was the instruction on THE PATH so why didn't you do it from the beginning? Were you trying to take a short cut?

Now I'm back to doing both the F12 testing (still SS and hammers for now) and the demo trades (Basic PASR). I have also been reading TITZ and read some of the material on trading psychology that was linked in the old thread, great stuff.

Good! Maybe now you will follow THE PATH step by step

I know that other traders here have taken this trade on USDCAD, but I think it was one of my better ones from the last days.

What were your reasons for taking this trade? Did you have a PLAN?

During the trade I kept on managing the SL after every daily close, first to BE, then above 1.34, and last above the inverted hammer like candle.

Good. Remember - entering trades is easy - managing our trades is where we MAKE our money.

I'll try to post more as I get more confident that the setups I'm entering are actually valid and can spark good discussion.

Just post the good, bad and the ugly - you will learn far more from the ugly!

Good job, Peter and follow THE PATH.

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15 YEARS OF PASR ON FOREX FACTORY!
  • #9,731
  • Jan 11, 2019 10:23am Jan 11, 2019 10:23am
Quoting strat
{quote} Sorry for the misunderstanding on M5 Suranga. Why were you looking to short GBPUSD on H4 when this and all 3 higher time frames are in UP trend? You should have been looking and waiting for a pull back to enter long.
Sorry for the misunderstanding on M5 Suranga.

No,problem Strat, I should have clearly state that in my post.

Why were you looking to short GBPUSD on H4 when this and all 3 higher time frames are in UP trend? You should have been looking and waiting for a pull back to enter long.

My entry was H4 spining top/inside bar combos at Resistance. In my past experience I see these type of entries good for some quick pips. May be its sure way to disaster. However ,now I think I should focus more on typical Basic PASR. Forgive me for doing this coach...will Stay with the Basic PASR next time.
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Suranga
Focus, Patience, Discipline, Determination and Perseverance
  • #9,732
  • Jan 11, 2019 10:28am Jan 11, 2019 10:28am
Watching snails racing in the rain is way better than trading EURGBP

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15 YEARS OF PASR ON FOREX FACTORY!
  • #9,733
  • Jan 11, 2019 10:31am Jan 11, 2019 10:31am
Quoting Suran
{quote} Sorry for the misunderstanding on M5 Suranga. No,problem Strat, I should have clearly state that in my post. Why were you looking to short GBPUSD on H4 when this and all 3 higher time frames are in UP trend? You should have been looking and waiting for a pull back to enter long. My entry was H4 spining top/inside bar combos at Resistance. In my past experience I see these type of entries good for some quick pips. May be its sure way to disaster. However ,now I think I should focus more on typical Basic PASR. Forgive me for doing this coach...will...
Forgive me for doing this coach...will Stay with the Basic PASR next time.

Don't worry, Suranga, nothing to forgive - it's all part of your learning curve.
15 YEARS OF PASR ON FOREX FACTORY!
  • #9,734
  • Jan 11, 2019 10:36am Jan 11, 2019 10:36am
Strat,

Also done couple of Basic PASR trades today. R:R is not that good but I felt confident to pull the trigger.

NZDUSD
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USDCAD

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Another entry (long) with EURUSD , But When I saw its not working I just closed the trade with small loss.
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Let me know what you think.

Suranga
Focus, Patience, Discipline, Determination and Perseverance
  • #9,735
  • Jan 11, 2019 10:42am Jan 11, 2019 10:42am
Quoting LarryK
Hi All Just wanted to wish Strat and all regulars here a happy and profitable new year. I still keep an eye out here but not posting. I am trading about 8 pairs with the lowest spreads, my charts are completely naked except for a couple of SR lines, trading .01 lots until completely satisfied that the little people are under control, and I stop getting out of profitable trades too early. Strat you have taught me a lot and i am grateful for that, thank you.
Strat you have taught me a lot and i am grateful for that, thank you.

Thank you Larry, and, as an "old timer" from my old original 2009 thread, thank you for the appreciation, I know you don't have to give it.

I know you struggled a lot understanding PASR and gave up, maybe a couple of times, but I am really glad for you that you stuck at it and finally "got it".

Maybe, when you get chance, you can tell others how you turned it around.

Stay well, Larry
15 YEARS OF PASR ON FOREX FACTORY!
  • #9,736
  • Jan 11, 2019 10:44am Jan 11, 2019 10:44am
Sucker for punishment, I'm back in again!

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15 YEARS OF PASR ON FOREX FACTORY!
  • #9,737
  • Jan 11, 2019 10:46am Jan 11, 2019 10:46am
EURGBP M5 PASR Trend Trading

Quoting Malu
EUR GBP M5 Trend Trading At least I could +20 pips out of this trade. Happy weekend to all. Greetings Markus {image}
Nicely done, Markus and it's still running!
15 YEARS OF PASR ON FOREX FACTORY!
  • #9,738
  • Jan 11, 2019 10:57am Jan 11, 2019 10:57am
Quoting Suran
Strat, Also done couple of Basic PASR trades today. R:R is not that good but I felt confident to pull the trigger. NZDUSD {image} USDCAD {image} Another entry (long) with EURUSD , But When I saw its not working I just closed the trade with small loss. {image} Let me know what you think. Suranga
Good job, Suranga, especially this:

Another entry (long) with EURUSD , But When I saw its not working I just closed the trade with small loss. From my charts: IF IN DOUBT - GET OUT!

It seems you are more comfortable on H4 - just make sure you check every 4 hours after the candle CLOSE.
15 YEARS OF PASR ON FOREX FACTORY!
  • #9,739
  • Jan 11, 2019 11:00am Jan 11, 2019 11:00am
Quoting strat
Sucker for punishment, I'm back in again! {image}
And out for a small LOSS!

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15 YEARS OF PASR ON FOREX FACTORY!
  • #9,740
  • Jan 11, 2019 11:04am Jan 11, 2019 11:04am
And out for another small LOSS

Let's see what New York does now London has shut shop

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15 YEARS OF PASR ON FOREX FACTORY!
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