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Strat's PASR Long Term, Stress Free Trading

  • #10,501
  • Feb 24, 2019 9:53am Feb 24, 2019 9:53am
Quoting strat
{quote} Plus your smaller "Scout" position sizes allow you to hold through draw down which is difficult for many to do - especially me!
Traders outside US like myself have the ability to hedge positions and higher leverage, both great advantages on such cases.

But I agree, having a SL in place can be very beneficial for your trading: it will reset your state of mind so once you are free for that losing trade you can move on to another trade, with fewer emotions (or no emotions at all) with more firepower & unbiased referring what market will do next.
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"What would you attempt to do, if you knew your success was a certainty?"
  • #10,502
  • Feb 24, 2019 10:18am Feb 24, 2019 10:18am
Quoting Fxentropy
{quote} Traders outside US like myself have the ability to hedge positions and higher leverage, both great advantages on such cases. But I agree, having a SL in place can be very beneficial for your trading: it will reset your state of mind so once you are free for that losing trade you can move on to another trade, with fewer emotions (or no emotions at all) with more firepower & unbiased referring what market will do next. {image}
Well, US Traders can also use foreign brokers. Which will allow to hedge with higher leverage.... not just people outside the US. In fact, most US FX traders use foreign brokers for this reason.
  • #10,503
  • Feb 24, 2019 12:02pm Feb 24, 2019 12:02pm
Quoting PipStackin
{quote} Well, US Traders can also use foreign brokers. Which will allow to hedge with higher leverage.... not just people outside the US. In fact, most US FX traders use foreign brokers for this reason.
This shows how little you know about Brokers!
15 YEARS OF PASR ON FOREX FACTORY!
  • #10,504
  • Feb 24, 2019 2:46pm Feb 24, 2019 2:46pm
Quoting PipStackin
{quote} Well, US Traders can also use foreign brokers. Which will allow to hedge with higher leverage.... not just people outside the US. In fact, most US FX traders use foreign brokers for this reason.
Offshore and unregulated brokers.... fine for 2-5k accounts .... but not when you want to trade hundreds of k or millions ....

no one in all his minds will do that.
"What would you attempt to do, if you knew your success was a certainty?"
  • #10,505
  • Feb 24, 2019 4:41pm Feb 24, 2019 4:41pm
Quoting Fxentropy
{quote} Offshore and unregulated brokers.... fine for 2-5k accounts .... but not when you want to trade hundreds of k or millions .... no one in all his minds will do that.
I would not even risk $1 with them - And try to repatriate your funds from them and you will know why we don't touch them with a 10 foot barge pole!
15 YEARS OF PASR ON FOREX FACTORY!
  • #10,506
  • Feb 24, 2019 10:44pm Feb 24, 2019 10:44pm
Quoting TerryDawe
EOW Analysis: All pairs within WCC except the following: USDJPY CADJPY EURCAD AUDCAD GOLD for those following it Of those pairs within a WCC there are some opportunities: EURUSD has printed three consecutive dojis at the top of the WCC and at the bottom of the shadow EURNZD bearish bar closed below shadow GBPUSD BUEB rejected by shadow AUDNZD BEOB followed by another bearish bar both being rejected by shadow bottom USDCAD BEOB being rejected by shadow bottom AUDJPY BEOB straddle followed by IB (however back within shadow) AUDUSD BEOB straddle followed...
I largely agree, but I have USDJPY in a WCC from two weeks ago. Seems to be grinding up against the 200ema on the daily chart at the moment, I'll be looking to see if it punches through or pushes away.
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  • #10,507
  • Feb 25, 2019 7:48am Feb 25, 2019 7:48am
Quoting Plateaus
EURNZD Hi all, as I keep on practicing f12 and reading the old thread, here is my view on EUR/NZD (comments are much appreciated): BB - in a down trend, price below the shadow, reacting to support on 1.6331 B - long term trend seems to be turning bearish as indicated by the red shadow. Primary trend is bearish but this week confirmed last week as WCC. Price has bounced of the shadow and has not made a LL yet. Indecision, I would like to see some more bearish confirmation. W - Price bounced from the strat shadow but there is strong support below,...
Hi Peter,

When you trade daily, don't take anything below this TF into your daily trades. You can still do your practice around M5, H4 or whatever TF, as long as the decision making do not affect your D chart trade.
  • #10,508
  • Feb 25, 2019 8:05am Feb 25, 2019 8:05am
When you start to see this kind of triple bottom, it's largely time to go out because sellers lose control over buyers.

I'm not in it, just an observation.

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Good trade at all
  • #10,509
  • Feb 25, 2019 8:24am Feb 25, 2019 8:24am
Quoting strat
{quote} Excellent, you did very good. Now take it further and read and re-read Dr. Joe to understand how you could have QUINTUPLED your PROFITS
Thank you, I'll do that
  • #10,510
  • Feb 25, 2019 8:28am Feb 25, 2019 8:28am
M5 Bootcamp

Today is easier day, by the time I start watching, a couple of trends is already ending(turning into temporally sideway channel, pausing). They looks like final big momentum pushes that exhaust the trend.

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I started watching from around 12:40.

(A) Consolidation/Ranging zone. Price range and retested above the previous support.

(B) BUOB Strat Shadow and 200ema confluence, start of the trend.

(C) Confirmation of a trend by retesting resistance as support and breaking the trend line.

(1) Supported by psychological zone that formed 2 dojis.

(2) Shooting Star and BEEBs, price found some resistance around this area.

(3) Price supported by Strat Shadow, expecting the price to go back to resistance area. If it reverse before doing so, indicating the trend end

(4) The price formed a shooting star, but it is able to reach the resistance area, means buyer is still buying.

(5) BUOB on Strat Shadow at the area where resistance was found, becoming support.

(6) An SR is hit, have been looking for long enough, time to get out.
  • #10,511
  • Feb 25, 2019 8:43am Feb 25, 2019 8:43am
Quoting landax
When you start to see this kind of triple bottom, it's largely time to go out because sellers lose control over buyers. I'm not in it, just an observation. {image} Good trade at all
Thank you Landax, I'll keep two eyes on it for learning purposes

Quoting huatzhi
{quote} Hi Peter, When you trade daily, don't take anything below this TF into your daily trades. You can still do your practice around M5, H4 or whatever TF, as long as the decision making do not affect your D chart trade.
Thanks huatzhi, sorry for not writing it in a more clear way, I do not look at anything below the daily (sometimes H4, for better RR, but still a long ways before I can do it correctly). Congratulations on your 5min trade!

best
peter
  • #10,512
  • Feb 25, 2019 9:07am Feb 25, 2019 9:07am
Quoting Rub
{quote} I largely agree, but I have USDJPY in a WCC from two weeks ago. Seems to be grinding up against the 200ema on the daily chart at the moment, I'll be looking to see if it punches through or pushes away. {image}
Actually you are correct in that there is a new WCC once I checked it but it is not where you have it. The close of the bar you have identified as the new WCC was still below the high of the WCC from December 30th. The following week of February 17 broke the high of the old WCC and is now the new POTENTIAL WCC. Maybe our feed numbers from our brokers are not the same.
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  • #10,513
  • Feb 25, 2019 9:27am Feb 25, 2019 9:27am
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15 YEARS OF PASR ON FOREX FACTORY!
  • #10,514
  • Feb 25, 2019 9:28am Feb 25, 2019 9:28am
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15 YEARS OF PASR ON FOREX FACTORY!
  • #10,515
  • Feb 25, 2019 9:31am Feb 25, 2019 9:31am
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15 YEARS OF PASR ON FOREX FACTORY!
  • #10,516
  • Edited 11:01am Feb 25, 2019 10:51am | Edited 11:01am
Quoting huatzhi
M5 Bootcamp Today is easier day, by the time I start watching, a couple of trends is already ending(turning into temporally sideway channel, pausing). They looks like final big momentum pushes that exhaust the trend. {image} I started watching from around 12:40. (A) Consolidation/Ranging zone. Price range and retested above the previous support. (B) BUOB Strat Shadow and 200ema confluence, start of the trend. (C) Confirmation of a trend by retesting resistance as support and breaking the trend line. (1) Supported by psychological zone that formed...
Getting better but...................

Consolidation/Trading Range has not ended UNTIL there is a CLOSE above the long white line.

The trend does not start UNTIL there is a CLOSE above the doji shooting star at the top of the range at ""T""

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15 YEARS OF PASR ON FOREX FACTORY!
  • #10,517
  • Feb 25, 2019 10:55am Feb 25, 2019 10:55am
Quoting landax
When you start to see this kind of triple bottom, it's largely time to go out because sellers lose control over buyers. I'm not in it, just an observation. {image} Good trade at all
There is an earlier indication of the sellers' intent to close out their positions.
15 YEARS OF PASR ON FOREX FACTORY!
  • #10,518
  • Edited 3:04pm Feb 25, 2019 12:16pm | Edited 3:04pm

Hunting one pair, acting without mercy when the time comes is one of the keys to success (but not the only one).
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"What would you attempt to do, if you knew your success was a certainty?"
  • #10,519
  • Feb 25, 2019 2:33pm Feb 25, 2019 2:33pm
Now I have Platinium on my radar,

Take a look where price is now from BIG BOSS perspective - an old support
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Watch the recent reaction on BOSS
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Now I'm looking for a pullback on WORKER to invite me for a ride
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Also observe how price behaved near 200 EMA
  • #10,520
  • Edited Feb 26, 2019 1:36am Feb 25, 2019 2:44pm | Edited Feb 26, 2019 1:36am
Quoting strat
{image}
(Edit: quote the correct post)

Hello Strat and fellow students. This seems to be a Basic PASR Trade on M5, correct?

According to this post https://www.forexfactory.com/showthr...7#post11564227
Strat said to bistolis

"There is NO TREND and we don't trade Basic PASR on M5".

So by just checking Strat's chart, the Trend is down, according to Strat Shadow. Considering the Swings, he entered on a confirmend Swing Low. This Swing was a Higher Low as well.

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This leads to my question: is it just NOT recommended for beginners to trade Basic PASR on M5 or what exactly is the difference between this post now and the post back then from bistolis? Thanks.
Accept the risk!
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