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Strat's PASR Long Term, Stress Free Trading

  • #10,741
  • Edited Mar 8, 2019 3:47am Mar 7, 2019 10:09am | Edited Mar 8, 2019 3:47am
USDJPY H1 - trend PASR
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  • #10,742
  • Mar 7, 2019 10:36am Mar 7, 2019 10:36am
Quoting Rub
{quote} The Big Boss and Boss are not aligned for long positions I posted my reasoning in post #10705 to Alesiosc here: https://www.forexfactory.com/showthr...2#post12081422 Now you've got me wondering where I'm going wrong.






Hello Ben, I was thinking the same thing and after studying it for a long time, drew some opposing conclusions.





If we look at it from the perspective of Power of Time Frames, the Big Boss has been in a down trend since the end of 2008 as indicated by its shadow. During this time there have been several retraces, the last of which occurred at the start of 2018 at which time the Boss retraced to its 200ema, and then moved back down in line with the Big Boss.




At the moment the Big Boss is still below its shadow, and the Boss, even though in an upswing has been unable to break through the top if its shadow within the current WCC and the Boss shadow is still red indicating down. On the other hand, if we follow our methodology of trading the primary trend, we should be looking for PA signals on the worker to get long and back in line with the Boss primary trend. So I am also not certain which approach to take, maybe Strat can provide his insight to help in here.
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  • #10,743
  • Mar 7, 2019 10:56am Mar 7, 2019 10:56am
Quoting darko2010
{quote} Definitely the most pro-French thread on FF
That reminds me of a quote of a fellow trader I know (one of the best):

"Successful trading is like getting pregnant.
Everyone congratulates you when you manage it but no one asks how many times you got fucked first."

T.D.

"What would you attempt to do, if you knew your success was a certainty?"
  • #10,744
  • Mar 7, 2019 11:13am Mar 7, 2019 11:13am
GBPUSD

Quoting TerryDawe
{quote} Hello Ben, I was thinking the same thing and after studying it for a long time, drew some opposing conclusions. If we look at it from the perspective of Power of Time Frames, the Big Boss has been in a down trend since the end of 2008 as indicated by its shadow. During this time there have been several retraces, the last of which occurred at the start of 2018 at which time the Boss retraced to its 200ema, and then moved back down in line with the Big Boss. At the moment the Big Boss is still below its shadow, and the Boss, even though in...
There is strong confluence of support on the Worker but we really need to wait to see what PRICE does on the Boss. All indications are that the up swing is over BUT PRICE has not confirmed the swing down yet. We need to wait for the Boss close before looking for PASR on the Worker.

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Now for some Black Magic:

If we look at Elliott Wave Theory and ""IF"" Elliott Wave Theory"" holds true then ""IF"" the next wave is Impulse Wave 5, PRICE ""could"" reach the minimum EW target of 1.1170 BUT all that is predicated on ""Elliott Wave Theory"" and NOT PASR.

We trade PASR not ""theories"".

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15 YEARS OF PASR ON FOREX FACTORY!
  • #10,745
  • Mar 7, 2019 11:17am Mar 7, 2019 11:17am
Quoting Fxentropy
{quote} That reminds me of a quote of a fellow trader I know (one of the best): "Successful trading is like getting pregnant. Everyone congratulates you when you manage it but no one asks how many times you got f*d first." T.D.
So true.......................9 years for me!
15 YEARS OF PASR ON FOREX FACTORY!
  • #10,746
  • Mar 7, 2019 11:19am Mar 7, 2019 11:19am
Quoting Fxentropy
{quote} That reminds me of a quote of a fellow trader I know (one of the best): "Successful trading is like getting pregnant. Everyone congratulates you when you manage it but no one asks how many times you got fucked first." T.D.
HAHAHAHA nice quote!
  • #10,747
  • Mar 7, 2019 12:08pm Mar 7, 2019 12:08pm
Quoting Fxentropy
2 petite scalps sur DAX cette matin {image}
De toute beauté!

Hi everyone, I catch up in the thread every day, and I will soon be able to participate more in the thread, as before
  • #10,748
  • Mar 7, 2019 1:25pm Mar 7, 2019 1:25pm
2nd attempt at BASIC M1 PASR, from resistance to 1st support.

BEOB is the PA entry.

exit is at 1st support. no actual PA. just touched 1st support.

BIG BOSS is in a downtrend off a double top.

BOSS in a downtrend. MA's in harmony.

thinking i timed the WORKER entry quite well.....


one thing i have found is using the M1 & M5 its very difficult to have proper RR as AUDUSD spread is 2 pips and the my broker only allows a SL to be placed a minimum of 8 pips away which for some reason then only lets me place it around 16 pips away. this trade only netted me 3 pips....this and the minimum SL distance shouldnt matter should it as its more just practice for BASIC PASR, resistance to 1st support. am i right.....
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If at first you don't succeed, try, try again.
  • #10,749
  • Mar 7, 2019 3:10pm Mar 7, 2019 3:10pm
Quoting strat
GBPUSD {quote} There is strong confluence of support on the Worker but we really need to wait to see what PRICE does on the Boss. All indications are that the up swing is over BUT PRICE has not confirmed the swing down yet. We need to wait for the Boss close before looking for PASR on the Worker. {image} {image} {image} Now for some Black Magic: If we look at Elliott Wave Theory and ""IF"" Elliott Wave Theory"" holds true then ""IF"" the next wave is Impulse Wave 5, PRICE ""could"" reach the minimum EW target of 1.1170 BUT all that is predicated...
Thanks very much, very helpful and greatly appreciated. Since price is within a WCC, I guess the aggressive choice would be to consider the swing confirmed with a close below the last Boss candle. The more conservative approach would be to wait for a close below the WCC but that would result in a loss of many pips on the way down.
  • #10,750
  • Mar 7, 2019 10:49pm Mar 7, 2019 10:49pm
Quoting strat
GBPUSD {quote} There is strong confluence of support on the Worker but we really need to wait to see what PRICE does on the Boss. All indications are that the up swing is over BUT PRICE has not confirmed the swing down yet. We need to wait for the Boss close before looking for PASR on the Worker. {image} {image} {image} Now for some Black Magic: If we look at Elliott Wave Theory and ""IF"" Elliott Wave Theory"" holds true then ""IF"" the next wave is Impulse Wave 5, PRICE ""could"" reach the minimum EW target of 1.1170 BUT all that is predicated...
Thanks for the detailed response strat. I am still waiting for more definite price action, this morning when I got up the doji I previously posted wasn't looking too crash hot as a long signal.

Quoting Alesiosc
2nd attempt at BASIC M1 PASR, from resistance to 1st support. BEOB is the PA entry. exit is at 1st support. no actual PA. just touched 1st support. BIG BOSS is in a downtrend off a double top. BOSS in a downtrend. MA's in harmony. thinking i timed the WORKER entry quite well..... one thing i have found is using the M1 & M5 its very difficult to have proper RR as AUDUSD spread is 2 pips and the my broker only allows a SL to be placed a minimum of 8 pips away which for some reason then only lets me place it around 16 pips away. this trade only netted...
Nicely done. I think you'll need to search strat's volatility list though, and perhaps look for a new broker if they are playing silly buggers like that for how close you can place stops. For small time frames the great thing is small stops, for larger returns, but you need volatility in the pair you're trading. Check the average daily range difference between EURGBP and GBPJPY for example.
  • #10,751
  • Mar 8, 2019 2:45am Mar 8, 2019 2:45am
Two kinds of trades - Counter & PSAR - what you like most and why?

(Before giving an answer keep in mind this question too: Would you like to trade on hope or on already established momentum/mini trend and just ride it without fear?)
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"What would you attempt to do, if you knew your success was a certainty?"
  • #10,752
  • Mar 8, 2019 3:30am Mar 8, 2019 3:30am
Quoting Fxentropy
Two kinds of trades - Counter & PSAR - what you like most and why? (Before giving an answer keep in mind this question too: Would you like to trade on hope or on already established momentum/mini trend and just ride it without fear?) {image} {image}
Where was you SL on the GU Basic PASR trade and why did you take it on that candle? 1.3068ish? I would have waited for the engulfing bar two candles later
I admire your nimbleness by the way, you trade M5 the way I would trade M1
  • #10,753
  • Mar 8, 2019 4:10am Mar 8, 2019 4:10am
Quoting darko2010
{quote} Where was you SL on the GU Basic PASR trade and why did you take it on that candle? 1.3068ish? I would have waited for the engulfing bar two candles later I admire your nimbleness by the way, you trade M5 the way I would trade M1
1.3080 as SL

I've considered that previous candle as a 'reload from support' candle.
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"What would you attempt to do, if you knew your success was a certainty?"
  • #10,754
  • Mar 8, 2019 4:12am Mar 8, 2019 4:12am
Quoting Fxentropy
{quote} 1.3080 as SL
Are you sure? It would have been hit if I read your chart correctly
PS: I was talking about the counter trade
  • #10,755
  • Edited 4:39am Mar 8, 2019 4:17am | Edited 4:39am
Quoting darko2010
{quote} Are you sure? It would have been hit if I read your chart correctly PS: I was talking about the counter trade
{quote} Where was you SL on the GU Basic PASR trade and why did you take it on that candle? {quote}

Was not this your question?

for the counter trade i don't discuss it technically and management wise.....its out of this concept...
"What would you attempt to do, if you knew your success was a certainty?"
  • #10,756
  • Mar 8, 2019 5:19am Mar 8, 2019 5:19am
Quoting Fxentropy
{quote} {quote} Where was you SL on the GU Basic PASR trade and why did you take it on that candle? {quote} Was not this your question? for the counter trade i don't discuss it technically and management wise.....its out of this concept...
I thought your counter-trend trade was supposed to be basic PASR, hence my confusion, my mistake.
On your PASR trade, yes, 80 would have also been my SL
Thanks
  • #10,757
  • Mar 8, 2019 8:05am Mar 8, 2019 8:05am
Quoting Fxentropy
Two kinds of trades - Counter & PSAR - what you like most and why? (Before giving an answer keep in mind this question too: Would you like to trade on hope or on already established momentum/mini trend and just ride it without fear?) {image} {image}
Nothing doing West Coast time - PRICE is just correcting in consolidation.

Those are both Basic PASR trades

When PRICE is in a range (no trend), we trade Basic PASR - from support to resistance and resistance to support
15 YEARS OF PASR ON FOREX FACTORY!
  • #10,758
  • Mar 8, 2019 8:07am Mar 8, 2019 8:07am
Quoting Fxentropy
{quote} {quote} Where was you SL on the GU Basic PASR trade and why did you take it on that candle? {quote} Was not this your question? for the counter trade i don't discuss it technically and management wise.....its out of this concept...
for the counter trade i don't discuss it technically and management wise.....its out of this concept...

It's Basic PASR
15 YEARS OF PASR ON FOREX FACTORY!
  • #10,759
  • Mar 8, 2019 8:10am Mar 8, 2019 8:10am
PASR

Quoting darko2010
{quote} I thought your counter-trend trade was supposed to be basic PASR, hence my confusion, my mistake. On your PASR trade, yes, 80 would have also been my SL Thanks
Two French guys discussing PASR in English - what better can you get?

Bon travail, mes amis!

Still waiting for the Big Boys to move PRICE at 6:09 am West Coast time

Just missed GBPCHF while I posted this! But 29 pips to H4 support so the Scouts are in!
15 YEARS OF PASR ON FOREX FACTORY!
  • #10,760
  • Mar 8, 2019 8:15am Mar 8, 2019 8:15am
Quoting strat
PASR {quote} Two French guys discussing PASR in English - what better can you get? Bon travail, mes amis! Still waiting for the Big Boys to move PRICE at 6:09 am West Coast time Just missed GBPCHF while I posted this!
There in audience to please...
Merci en tout cas Strat
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