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Strat's PASR Long Term, Stress Free Trading

  • #10,941
  • Mar 13, 2019 9:19am Mar 13, 2019 9:19am
Quoting strat
PASR {quote} Thank you bistolis (work must be slow today then?)
slow yes but work arrives whenever the sellers want to send work for process. random times that is , and then they want it done RIGHT NOW

I might need to look for some job that will leave London early hours available or quit altogether for some time (PS the job that is )
  • #10,942
  • Mar 13, 2019 9:21am Mar 13, 2019 9:21am
Hi everybody

Does anybody have a record or collation of the lessons from Strat's old website, I am not taking a short cut and I am sure there are some students who will endorse this.

much appreciated.
  • #10,943
  • Mar 13, 2019 9:29am Mar 13, 2019 9:29am
GBP/NZD M5

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I should maybe have exited one or 2 candles before?
https://twitter.com/BeauBuyer
  • #10,944
  • Mar 13, 2019 9:36am Mar 13, 2019 9:36am
M5

Today I practically get nothing. (1) prevented me from getting (2), not sure if it is the right call. Enter on (3) to see if there is going to be a trend continuation, exit on Shooting Star (4).

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Need more practice.
  • #10,945
  • Edited 9:52am Mar 13, 2019 9:41am | Edited 9:52am
PASR

Quoting Alesiosc
#5101 "For those on The Path of Learning, PM me with your trade for this Worker chart. Assume the BOSS is bullish. The small marks on the right where price is are spaced 130 pips apart. NOTE: Do NOT try and work out which pair this is or what year/month it was. A chart is a CHART is a CHART and PASR is PASR is PASR no matter what the instrument is. Attached Image (click to enlarge)" If I may Strat.....A few possible scenario's..... 1) I would place a stop loss 10 pips or so beneath the wick of the Hammer with a buy stop 10 pips above the high of...
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https://www.forexfactory.com/showthr...49#post3025849

This determines your understanding of PASR and your ""style"" of trading.

1) I would place a stop loss 10 pips or so beneath the wick of the Hammer with a buy stop 10 pips above the high of the Hammer. (Not my preferred option as I would be risking more than I would be comfortable with).

This is very aggressive and NOT The Path to consistently profitable trading. The problem is that the Big Boys know we will position buy and Stop Loss orders where you suggest and will HUNT those out until they clear the decks before moving in THEIR direction. This results in the spikes you see above Hammers and below Shooting Stars and, as you rightly say, the Stop Loss size is horrendous.

2) I would wait for PA on the next bar/s confirming a Swing Low with a close above the Hammer body, then look again for a better entry with lower risk.

Yes! WAIT for the Big Boys to show their hand and then FOLLOW in their footsteps.

3) I would wait for a retrace to the 61.8% fib level taken from the Hammer with a buy limit placed and a stop loss placed 10 pips below the bottom of the wick and accept the loss if I am wrong.

That is also aggressive and NOT The Path to consistently profitable trading.

Another option is to drop down to H4 and look and WAIT for H4 PASR

Consistently profitable trading is all about psychology and putting probabilities on OUR side.

#2 will get you there safe and sound as long as you FOLLOW the Big Boys and don't try to guess, pre-empt or lead them.
15 YEARS OF PASR ON FOREX FACTORY!
  • #10,946
  • Edited 10:02am Mar 13, 2019 9:44am | Edited 10:02am
GBPCAD M5 Basic PASR

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15 YEARS OF PASR ON FOREX FACTORY!
  • #10,947
  • Mar 13, 2019 9:49am Mar 13, 2019 9:49am
I took two losses today, but was lucky to end the day in profit still due to this trade and the always positive RR trading Price Action. Overall very choppy PA and I will stay out for now - the Brexit craziness is taking place once again and could cause spikes that are hard to anticipate.
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Fix up, trade sharp ...
  • #10,948
  • Mar 13, 2019 9:53am Mar 13, 2019 9:53am
Quoting strat
{image}
I was on that same trade but your second entry puzzles me. The bar gave me pause, not encouragement to sell. Care to explain?
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  • #10,949
  • Mar 13, 2019 9:59am Mar 13, 2019 9:59am
GBPNZD

Waiting, waiting, waiting......................patience, patience, patience

If nothing happens soon, it's coffee, bacon and eggs time!

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15 YEARS OF PASR ON FOREX FACTORY!
  • #10,950
  • Edited 10:23am Mar 13, 2019 10:07am | Edited 10:23am
GBPCAD M5 Basic PASR

Quoting darko2010
{quote} I was on that same trade but your second entry puzzles me. The bar gave me pause, not encouragement to sell. Care to explain? {image}
your second entry puzzles me. Care to explain?

That candle WAS a full blown green candle telling me the buyers were IN CONTROL and then, in the dying seconds, it turned RED telling me that the sellers were back IN CONTROL and I entered at that point before it closed as a long legged doji.
15 YEARS OF PASR ON FOREX FACTORY!
  • #10,951
  • Mar 13, 2019 10:13am Mar 13, 2019 10:13am
Quoting strat
GBPCAD M5 Basic PASR {quote} your second entry puzzles me. Care to explain? That candle was a full blown green candle telling me the buyers were IN CONTROL and then, in the dying seconds, it turned RED telling me that the sellers were back IN CONTROL and I entered at that point before it closed as a long legged doji.
Thanks
  • #10,952
  • Mar 13, 2019 10:16am Mar 13, 2019 10:16am
GBPUSD M5 PASR Trend Trading

Quoting Hickson
I took two losses today, but was lucky to end the day in profit still due to this trade and the always positive RR trading Price Action. Overall very choppy PA and I will stay out for now - the Brexit craziness is taking place once again and could cause spikes that are hard to anticipate. {image}
Well done, Hickson. How did you successfully negotiate the resistance from the long legged doji/Bond shooting star?

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I took two losses today

Care to show us? - I need something to do
15 YEARS OF PASR ON FOREX FACTORY!
  • #10,953
  • Mar 13, 2019 10:19am Mar 13, 2019 10:19am
Quoting strat
GBPUSD M5 PASR Trend Trading {quote} I need something to do
https://www.bloomberg.com/features/2...-trading-game/
  • #10,954
  • Mar 13, 2019 10:20am Mar 13, 2019 10:20am
GBPNZD M5 PASR Trend Trading

Quoting huatzhi
M5 Today I practically get nothing. (1) prevented me from getting (2), not sure if it is the right call. Enter on (3) to see if there is going to be a trend continuation, exit on Shooting Star (4). {image} Need more practice.
(2) and the candle after it were GOOD entries.

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Keep at it, huatzhi, you are doing good!
15 YEARS OF PASR ON FOREX FACTORY!
  • #10,955
  • Mar 13, 2019 10:22am Mar 13, 2019 10:22am
Quoting darko2010
{quote}
I do not treat trading as a game - it is my business!
15 YEARS OF PASR ON FOREX FACTORY!
  • #10,956
  • Mar 13, 2019 10:26am Mar 13, 2019 10:26am
GBPNZD M5 PASR Trend Trading

Quoting ixam23
GBP/NZD M5 {image} I should maybe have exited one or 2 candles before?
I should maybe have exited one or 2 candles before?

How would you know? You do not have any SUPPORT and RESISTANCE levels identified so you are trading BLIND!
15 YEARS OF PASR ON FOREX FACTORY!
  • #10,957
  • Mar 13, 2019 10:28am Mar 13, 2019 10:28am
GBPNZD H1

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15 YEARS OF PASR ON FOREX FACTORY!
  • #10,958
  • Mar 13, 2019 10:44am Mar 13, 2019 10:44am
Quoting pippoacher
Hi everybody Does anybody have a record or collation of the lessons from Strat's old website, I am not taking a short cut and I am sure there are some students who will endorse this. much appreciated.
Every post there is a lesson. Sorry to give you not the expected answer!
Fix up, trade sharp ...
  • #10,959
  • Mar 13, 2019 10:46am Mar 13, 2019 10:46am
GBPNZD M5 PASR

That's it, I'm done for today - PRICE is too erratic - jumping up and down faster than Stormy Daniel's knickers!

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15 YEARS OF PASR ON FOREX FACTORY!
  • #10,960
  • Mar 13, 2019 10:52am Mar 13, 2019 10:52am
Quoting strat
GBPUSD M5 PASR Trend Trading {quote} Well done, Hickson. How did you successfully negotiate the resistance from the long legged doji/Bond shooting star? {image} I took two losses today Care to show us? - I need something to do
I am usually looking at the H1 for levels when Trading M5. Lower levels feel too micro for me. The shooting star took me out of a profitable trade the first time - but since Price bounced convincingly from support AND strat shadow, I reentered after the candle piercing back on the back of the shadow as you can see from the screen shot. I basically had to see a good candle taking out the high of the shooting star - to hold for a bit more.

I can show the earlier losses when I get back on the computer - there is a thunder storm here, so I cut it off from electricity for a while. It is important to have my trading devices intact.
Fix up, trade sharp ...
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