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Strat's PASR Long Term, Stress Free Trading

  • #10,641
  • Edited 12:53pm Mar 4, 2019 8:53am | Edited 12:53pm
GBPJPY M5 PASR Trend Trading

Just turned out to be Basic PASR

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15 YEARS OF PASR ON FOREX FACTORY!
  • #10,642
  • Edited 12:54pm Mar 4, 2019 8:54am | Edited 12:54pm
GBPCHF M5 PASR Trend Trading

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15 YEARS OF PASR ON FOREX FACTORY!
  • #10,643
  • Edited 12:55pm Mar 4, 2019 9:04am | Edited 12:55pm
GBPCAD M1 PASR Trend Trading

Just turned out to be Basic PASR

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15 YEARS OF PASR ON FOREX FACTORY!
  • #10,644
  • Mar 4, 2019 9:12am Mar 4, 2019 9:12am
Quoting strat
{image}
Strat, that first entry, I don't understand. Mind explaining what gave you confidence in a buy there?
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  • #10,645
  • Mar 4, 2019 9:17am Mar 4, 2019 9:17am
Quoting Scrumy
{quote} I have been thinking about this for days ...the pull back to the Strat Shadow was so severe after ""1"", PASR gave us another opportunity to sell short back to the bottom of candle ""1"". I think it has something to do with "UNDERSTAND how PRICE reacts IN and AROUND the Strat Shadow in a TREND." Post 5857. Another thing - my way on THE PATH Currently I am a bit lost. I don't feel comfortable with LT trades (Worker and above), maybe it is because I am too impatient....
I will give you my advice, because I was in that same position two weeks ago. I have lost all my money in 5M and 1M charts. Maybe for thinking that I risk little and win a lot, especially when I watch with jealousy what others did in those timeframes. But I realized that it is the opposite. I end up making more illogical trades surpassing the losses that I have had in higher timeframes.

I had to accept that my lifestyle and personality does not allow me to trade in timeframes less than daily.

And the H1 H4 are the most stressful of all, I keep the whole day thinking only about that.

What has helped me is a post that I read but do not remember were:
Focus only on managing the losses and let the profits take care of themselves. Do not think that there is money that you can lose, because when you lose it, you will have to take money out of a place that you can not lose.

When I dedicate myself only to the daily chart I was able to see the amount of opportunities that there are. I currently have an open position in USDJPY and I am looking forward to 6 pairs that possibly present an opportunity to enter this week.

I plan on weekends and weekdays I just have to spend 10 minutes looking at the selected charts. And in the end I control the losses much better than I did in smaller timeframes.
  • #10,646
  • Edited 12:56pm Mar 4, 2019 9:36am | Edited 12:56pm
GBPCAD M1 Snail Racing in the Rain

OK, enough is enough, got caught in snails racing in the rain for a very small LOSS and a waste of 27 minutes

Repeat 1,000 times:

Snails racing in the rain is NOT my game

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15 YEARS OF PASR ON FOREX FACTORY!
  • #10,647
  • Mar 4, 2019 9:37am Mar 4, 2019 9:37am
DOW JONES - 5M BASIC PASR

The Dow is as challenging as the Forex market but I have started studying it.
I took this M5 Basic PASR trade right after the market opening given the H1 resistance that has been tested 4 times and still wouldn't break:
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  • #10,648
  • Mar 4, 2019 9:59am Mar 4, 2019 9:59am
EURJPY M5
Here is my try at 5min.

Today I had this small winning trade on EURJPY and two break evens, GPBJPY and GPBUSD which already posted by Strat, so it was really good to compare and see where I was wrong. Strat, if you don't mind, I'll practice around this time as well as it fits my schedule adequately.

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I think the entry was very clear with a lot of resistance from the shadow above.
On the other hand, it looks like my exit was early, as price keeps going further down and my next support is on 126.43.

best
peter
  • #10,649
  • Mar 4, 2019 10:12am Mar 4, 2019 10:12am
I have been watching streams of people trading lately when I am at work. Almost everyone was at some point or most of the time buying/selling against the trend.
This is pretty much what happened
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Not to mention the monetary outcome if they actually have been trading a live account
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  • #10,650
  • Mar 4, 2019 10:25am Mar 4, 2019 10:25am
Quoting Plateaus
EURJPY M5 Here is my try at 5min. Today I had this small winning trade on EURJPY and two break evens, GPBJPY and GPBUSD which already posted by Strat, so it was really good to compare and see where I was wrong. Strat, if you don't mind, I'll practice around this time as well as it fits my schedule adequately. {image} I think the entry was very clear with a lot of resistance from the shadow above. On the other hand, it looks like my exit was early, as price keeps going further down and my next support is on 126.43. best peter
If you zoom out to the slightly higher timeframes, you can see more clearly where price may be going. I have drawn a box around the most recent daily candle so it is acting as a controlling candle. On the H4, a nice shooting star formed at the top of that daily candle so a good signal there. Price has moved down over 60 pips since then. This is counter trend but most of the lower time frames are counter trend as price retraces before moving back in its original direction.
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  • #10,651
  • Mar 4, 2019 10:35am Mar 4, 2019 10:35am
LAZINESS

When I look back at the root cause of my mistakes, it is neither greed nor fear, it is laziness.
Jumping the gun on "kinda" SS or hammers or engulfing bars, not being patient, hoping that you will get a break from the market, that is nothing but laziness.
If it were a job I am being employed at, I would have been fired months ago. Instead, I kept being lazy because I had a lousy boss.

Don't be lazy people, this is surgery, no matter the timeframe.
  • #10,652
  • Mar 4, 2019 10:43am Mar 4, 2019 10:43am
Quoting strat
{quote}This must be the MOST STUPID question ever asked on either of these threads!
guess thats me been told.....back to The Path.....didnt mean to offend....sorry...
If at first you don't succeed, try, try again.
  • #10,653
  • Edited 12:57pm Mar 4, 2019 10:46am | Edited 12:57pm
GBPCAD M1 PASR Trend Trading

Quoting darko2010
{quote} Strat, that first entry, I don't understand. Mind explaining what gave you confidence in a buy there? {image}
I was convinced the earlier move down was a Stop Run by the Big Boys to fill all the shorts so I went long in anticipation of their ""real"" move. I then got caught in trading the pull back which never came. Then I remembered it was Monday............................
15 YEARS OF PASR ON FOREX FACTORY!
  • #10,654
  • Mar 4, 2019 10:49am Mar 4, 2019 10:49am
Quoting strat
{quote}[/b] I was convinced the earlier move down was a Stop Run by the Big Boys to fill all the shorts so I went long in anticipation of their ""real"" move. I then got caught in trading the pull back which never came. Then I remembered it was Monday............................
Thanks, that's ninja level for me
  • #10,655
  • Mar 4, 2019 10:54am Mar 4, 2019 10:54am
Quoting TerryDawe
{quote} If you zoom out to the slightly higher timeframes, you can see more clearly where price may be going. I have drawn a box around the most recent daily candle so it is acting as a controlling candle. On the H4, a nice shooting star formed at the top of that daily candle so a good signal there. Price has moved down over 60 pips since then. This is counter trend but most of the lower time frames are counter trend as price retraces before moving back in its original direction. {image} {image} {image}
Thanks for the explanation Terry!

MY SL lines were from H4 and H1 (not sure if they were correct, just what I saw at the time). If I understand your point, you would say that the low of the previous daily candle (your blue box) would have been a more meaningful level, and I could have exited with more pips.

When I saw price reacting to the support at 126.73 which was also the top of H4 shadow I got scared and closed the trade.

Afterwards it kept on going ...

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best
peter
  • #10,656
  • Mar 4, 2019 11:05am Mar 4, 2019 11:05am
Quoting darko2010
DOW JONES - 5M BASIC PASR The Dow is as challenging as the Forex market but I have started studying it. I took this M5 Basic PASR trade right after the market opening given the H1 resistance that has been tested 4 times and still wouldn't break: {image} {image}
And while you are happy with 80 pips and get out for no reason, you realize you left over 300 pips on the table;
Laziness...
  • #10,657
  • Mar 4, 2019 11:07am Mar 4, 2019 11:07am
(VERY) BASIC PASR - EURUSD H1

The hammer caught my eye, in confluence with the level the push back happened
In progress...
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  • #10,658
  • Edited 12:58pm Mar 4, 2019 11:08am | Edited 12:58pm
PASR - THE PATH

Quoting Scrumy
{quote} I have been thinking about this for days ...the pull back to the Strat Shadow was so severe after ""1"", PASR gave us another opportunity to sell short back to the bottom of candle ""1"". I think it has something to do with "UNDERSTAND how PRICE reacts IN and AROUND the Strat Shadow in a TREND." Post 5857. Another thing - my way on THE PATH Currently I am a bit lost. I don't feel comfortable with LT trades (Worker and above), maybe it is because I am too impatient....
Currently I am a bit lost.

Don't worry, it happens to all of us. This is where you are overwhelmed with so much information you don't know what to do with it and end up trying to use all of it in one go. Rather like trying to eat the elephant in one bite. Just step back and focus on one element of PASR on one time frame, Start and master Basic PASR and then you will be set for the rest.

I don't feel comfortable with LT trades (Worker and above)

H1 and - in parallel - H4 stresses me a lot

You are not leaving yourself with many options - only M15, M5 and M1.

And for learning purposes it takes too long to get a valid set up (from a beginners point of view)

This is why M5/M1 BootCamp is useful for accelerating the learning process. Don't forget f12 is also very good for instilling PASR in your trading brain.

In general I am switching way too much between several Timeframes.

This also screwed Terry up. Find the time frame you are comfortable with and which fits your personal schedule and circumstances.

Therefore I will concentrate on H4 the next few weeks

But, you just wrote H4 stresses me a lot. You have no chance of trading profitably if you are under stress.

also to understand the Power of Timeframes.

This is paramount for success in trading

still on THE PATH

Me too, Scrumy
15 YEARS OF PASR ON FOREX FACTORY!
  • #10,659
  • Edited 12:58pm Mar 4, 2019 11:18am | Edited 12:58pm
M5 PASR Trend Trading

A bad case of choosing the wrong pairs today - much smoother and EASIER than what I traded......................Oh well................Monday Blues! Tomorrow is another day.

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15 YEARS OF PASR ON FOREX FACTORY!
  • #10,660
  • Mar 4, 2019 11:28am Mar 4, 2019 11:28am
Quoting Plateaus
{quote} Thanks for the explanation Terry! MY SL lines were from H4 and H1 (not sure if they were correct, just what I saw at the time). If I understand your point, you would say that the low of the previous daily candle (your blue box) would have been a more meaningful level, and I could have exited with more pips. When I saw price reacting to the support at 126.73 which was also the top of H4 shadow I got scared and closed the trade. Afterwards it kept on going ... {image} {image} best peter
For M5 trading, H1 and H4 S/R are the only ones to look at.
If you are looking at larger TF S/R, you are actually trading a TF higher than M5, prepare accordingly
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