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Strat's PASR Long Term, Stress Free Trading

  • #11,381
  • Apr 16, 2019 4:14pm Apr 16, 2019 4:14pm
Scrumy,

Thank you.

I have no idea how or when I punched that button but it was certainly punched.

Frank
  • #11,382
  • Apr 17, 2019 12:21am Apr 17, 2019 12:21am
Quoting Alesiosc
hi guys, would appreciate any views on my attempt at Basic PASR. i have done a couple more which were losers. here, hopefully, i touched on more Basic PASR criteria. so, Big Boss MA's are flat. price at the tight end of an 8 year triangle. Boss short term trend is up, immediate trend is up. HH's & HL's. MA's upwards sloping, evenly spaced. Worker, MA's sloping up nicely. looked for a buy entry at the green circle. PA showed at minor SR (thin grey). 2nd bar back is a BUEB with a strong close above minor S and BRN 1.0000 entered with confirmation...
Looks like a solid trade to me, although I don't recommend trading any of the CHF pairs. Their national bank likes to cause havoc.
  • #11,383
  • Apr 17, 2019 1:50am Apr 17, 2019 1:50am
Quoting Rub
Who else fancies this? Assuming the close in half an hour or so looks the same. {image} {image} {image}
Well looking back at it, I'm not sure where exactly I went wrong on this NZDCAD trade. Any comments?
  • #11,384
  • Apr 17, 2019 2:04am Apr 17, 2019 2:04am
Quoting witowito
I won't be surprised if price keep pushing higher cause I can notice that after the last drop in weekly they took last swim low and rally away forming a nice double bottom after taking stops that were resting there. Then they rally and made a new high wich for me is a breaking market structure. Price could not close clearly above but the reaction is not as strong as it should be if bears were in control. Also in daily price has broken a clear trend line that have been driving price down for months. In monthly price has retested and old trend wall...
Updating this... price has clearly broke higher helped by news...
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  • #11,385
  • Apr 17, 2019 2:13am Apr 17, 2019 2:13am
Quoting Fxentropy
{quote} Indeed....all was fun until London open lol.... Then this bitch slapped me hard: got cought in short....added couple of times to get out at a better average. Then got my revenge....and revenge feels so good {image}
Yes trading before LO could end nasty.
I admire your ability to trade in all directions with adding up on multiple pairs going down and then digging yourself up with profit in the end.
It's like forex porn
  • #11,386
  • Apr 17, 2019 2:30am Apr 17, 2019 2:30am
Quoting Rub
{quote} Well looking back at it, I'm not sure where exactly I went wrong on this NZDCAD trade. Any comments?
FWIW, theres conflict between your Boss short and immediate trends. The reason why I say this is I've been focusing on the Boss short and immediate trends before making trades in the last couple of days and it seems when they are in harmony in having more confidence in the trade.......I know I should have been doing this long ago but as I've said before. It takes me a little longer than the average Joe to absorb and practice what is right.....
If at first you don't succeed, try, try again.
  • #11,387
  • Apr 17, 2019 2:36am Apr 17, 2019 2:36am
I know I'm not supposed to be going here but I can't help myself.....

I can see 4 reasons why GBPNZD M5 is looking short. Not posting a chart cos it's a bit messy atm but looking for PASR to go short.
If at first you don't succeed, try, try again.
  • #11,388
  • Apr 17, 2019 2:37am Apr 17, 2019 2:37am
Quoting Rub
{quote} Looks like a solid trade to me, although I don't recommend trading any of the CHF pairs. Their national bank likes to cause havoc.
Agree with Rub. Solid trade. Price on all timeframes above Strat Shadow. Where was your SL? Was it a 1:1 Reward Risk Ratio?

What did you mean with "looked for a buy entry at the green circle"? Was your initial plan to buy when PRICE enters your green circle area?

Attached Image
Accept the risk!
  • #11,389
  • Apr 17, 2019 2:43am Apr 17, 2019 2:43am
Plenty to learn from this guy.....Courage, Determination, Fearless, Standup after he got beaten....
RESPECT

https://twitter.com/i/status/1117566501438009347
"What would you attempt to do, if you knew your success was a certainty?"
  • #11,390
  • Apr 17, 2019 2:52am Apr 17, 2019 2:52am
Quoting Rub
{quote} Well looking back at it, I'm not sure where exactly I went wrong on this NZDCAD trade. Any comments?
Rub's NZDCAD long

Big Boss: last months candle showed long wick
Boss: currently in a "young" two week WCC. Bears have been strong. Now taking a pause. PRICE at bottom of WCC.
Worker: you had Strat Shadow Dynamic SR directly above ahead.

Attached Image (click to enlarge)
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The primary trend was down (the primary trend is the immediate trend of the next higher timeframe). So your entry was a bit "early". But as I posted yesterday, there are plenty of examples in the threads that don't consider the PRIMARY trend.

Here a quote from this post by strat:
"...the PRIMARY TREND is ALWAYS that of the NEXT HIGHER time frame"

I sometimes used the wrong wording. Lately I was writing about the PRIMARY trend - but was talking about the immediate trend on the timeframe I was referring to.
Accept the risk!
  • #11,391
  • Apr 17, 2019 3:03am Apr 17, 2019 3:03am
Quoting Scrumy
{quote} Agree with Rub. Solid trade. Price on all timeframes above Strat Shadow. Where was your SL? Was it a 1:1 Reward Risk Ratio? What did you mean with "looked for a buy entry at the green circle"? Was your initial plan to buy when PRICE enters your green circle area? {image}
Yes Scrumy. Was looking for PA around the green circle level. It showed itself at the level above. Everything seemed to line up there so I pulled the trigger. Thinking about the negatives of this trade last night. One was it being a CHF pair and the other was the RR. Tbh, I didn't think about RR at all. I mainly wanted to get a trade under my belt which followed the general guidelines of a Basic PASR trade. As for a hard stop. I know I'm not supposed to be doing this either but I've gotten quite comfortable now using mental stops. NOT RECOMMENDED for Basic PASR. Just what I've become used to now....
If at first you don't succeed, try, try again.
  • #11,392
  • Apr 17, 2019 3:16am Apr 17, 2019 3:16am
Quoting Alesiosc
{quote} Yes Scrumy. Was looking for PA around the green circle level. It showed itself at the level above. Everything seemed to line up there so I pulled the trigger. Thinking about the negatives of this trade last night. One was it being a CHF pair and the other was the RR. Tbh, I didn't think about RR at all. I mainly wanted to get a trade under my belt which followed the general guidelines of a Basic PASR trade. As for a hard stop. I know I'm not supposed to be doing this either but I've gotten quite comfortable now using mental stops. NOT RECOMMENDED...
Mental Stops

I just want to share what happend to me last night. I had a H4 pending sell order on GBPNZD, with a SL of over 200 pips. And went to bed.
Look what happend. On M1!

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Just imagine I would not have had my SL and PRICE would get out of my hands. You know what then happens? You will get into stress. And stress is not good while trading. Been there, done that. Sure, some things will still stress me in future. But one thing won't bring me in stress: I will have my SL in place. Just my lessons learnt.
Accept the risk!
  • #11,393
  • Apr 17, 2019 3:44am Apr 17, 2019 3:44am
yeah, mental stops are great, as long as you stick to them, -and if you're going to stick to them then you may as well use a stop loss order..

-anyway, this is a chart I'm stalking.. AUDNZD H1
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Waiting patiently for it to come back to the 1.063 level. Not holding my breath it is going to come back today though..
  • #11,394
  • Apr 17, 2019 3:50am Apr 17, 2019 3:50am
Quoting Scrumy
{quote} Mental Stops I just want to share what happend to me last night. I had a H4 pending sell order on GBPNZD, with a SL of over 200 pips. And went to bed. Look what happend. On M1! {image} Just imagine I would not have had my SL and PRICE would get out of my hands. You know what then happens? You will get into stress. And stress is not good while trading. Been there, done that. Sure, some things will still stress me in future. But one thing won't bring me in stress: I will have my SL in place. Just my lessons learnt.
I am trying to see a reason for this pending order and I cant find anything. On top you have news after you went to bed, and it is the most volatile currency pair, 200pips is a joke for GBPNZD as you found out.
  • #11,395
  • Apr 17, 2019 3:51am Apr 17, 2019 3:51am
Quoting Scrumy
{quote} Mental Stops I just want to share what happend to me last night. I had a H4 pending sell order on GBPNZD, with a SL of over 200 pips. And went to bed. Look what happend. On M1! {image} Just imagine I would not have had my SL and PRICE would get out of my hands. You know what then happens? You will get into stress. And stress is not good while trading. Been there, done that. Sure, some things will still stress me in future. But one thing won't bring me in stress: I will have my SL in place. Just my lessons learnt.
Just for the record scrumy. i wouldnt dream of using a mental stop on the daily. i only consider them if i am babysitting a trade from start to finish......
If at first you don't succeed, try, try again.
  • #11,396
  • Apr 17, 2019 4:07am Apr 17, 2019 4:07am
Quoting Alesiosc
{quote} Just for the record scrumy. i wouldnt dream of using a mental stop on the daily. i only consider them if i am babysitting a trade from start to finish......
i see now im digging a hole for myself.....

if i had to leave this trade and i had to place a stop loss it would have been 10-15 pips below the BUEB 2 bars back. i see its easy said with hindsight but looks the most logical to me.....
If at first you don't succeed, try, try again.
  • #11,397
  • Apr 17, 2019 5:11am Apr 17, 2019 5:11am
Kiwi looking alright for the sell on the 15 minute. with stop just above blue rectangle. target that support on H1 and H4..

15 minute
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H1
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H4
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  • #11,398
  • Apr 17, 2019 5:26am Apr 17, 2019 5:26am
Quoting bistolis
{quote} I am trying to see a reason for this pending order and I cant find anything. On top you have news after you went to bed, and it is the most volatile currency pair, 200pips is a joke for GBPNZD as you found out.

GBPNZD, short, H4

bistolis, thank you for asking. Below what I thought to enter the trade.

Big Boss (W1): Ranging in the WCC, lots of wicks. PRICE at EMA200, which I didn't consider too much.
Boss (D1): BEEB into Strat Shadow. Immediate trend down.
Worker (H4): Immediate trend down. Therefore aligned with Boss. Closed below my SR line. Pending sell order below EMA200. Edit: H, L, LH structure on Worker.

Attached Image (click to enlarge)
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And the aftermath:
Attached Image (click to enlarge)
Click to Enlarge Name: GPBNZD H4 End.png Size: 153 KB
Accept the risk!
  • #11,399
  • Apr 17, 2019 7:22am Apr 17, 2019 7:22am
Quoting Scrumy
{quote} GBPNZD, short, H4 bistolis, thank you for asking. Below what I thought to enter the trade. Big Boss (W1): Ranging in the WCC, lots of wicks. PRICE at EMA200, which I didn't consider too much. Boss (D1): BEEB into Strat Shadow. Immediate trend down. Worker (H4): Immediate trend down. Therefore aligned with Boss. Closed below my SR line. Pending sell order below EMA200. Edit: H, L, LH structure on Worker. {image} And the aftermath: {image}
its like the market was just waiting for you Scrumy....
If at first you don't succeed, try, try again.
  • #11,400
  • Apr 17, 2019 7:52am Apr 17, 2019 7:52am
Quoting Alesiosc
{quote} its like the market was just waiting for you Scrumy....
Makes you think, that sometimes it is exactly that. Or we ourselves setup up the way we enter trades exactly for something like that to happen
What I would like to see first is a confirmed high. which doesnt exist yet on the daily or weekly
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Is it really going down ?
I am not yet comfortable with higher frames. I am just "talking".
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