Greetings Alesiosc. Have been following your posts and can say : Sorry, I don't understand where you are coming from. I suggest you provide an example by showing on a chart, which does not have to be a trade or even a current chart, what you mean when saying " trading in the footsteps of the big boys " . In the past Strat criticized me for not posting charts and I have to agree that a picture is worth a thousand words. It would be a good reference point for further discussions/ explanations.
Strat's PASR Long Term, Stress Free Trading
- #12,001
- Jul 29, 2019 2:23pm Jul 29, 2019 2:23pm
- Joined Mar 2004 | Status: Senior Member | 1,633 Posts
GBPNZD H1
SL: 50 Pips
TP: open, but moved SL to profit.
Closed strong below Strat Shadow and was in a good down swing. Price was bouncing inside the Shadow and finally closed below. That was my trigger to enter short.
I know EMA200 was right below me. But in the end it comes down to trade management. Price went directly into my favor.
We are near the bottom of the active WCC now.
Didn't take profit on next SR as it closed strongly below. Price reacted afterwards to that SR. But I try to let my winners run.
This is what H4 looked like.
SL: 50 Pips
TP: open, but moved SL to profit.
Closed strong below Strat Shadow and was in a good down swing. Price was bouncing inside the Shadow and finally closed below. That was my trigger to enter short.
I know EMA200 was right below me. But in the end it comes down to trade management. Price went directly into my favor.
We are near the bottom of the active WCC now.
Didn't take profit on next SR as it closed strongly below. Price reacted afterwards to that SR. But I try to let my winners run.
This is what H4 looked like.
Accept the risk!
- #12,005
- Edited 3:59pm Jul 29, 2019 3:30pm | Edited 3:59pm
EURAUD H1 Basic PASR
SL: 18 Pips
TP: open, but SL already locked in at around 200 Pips
Price was inside a range. After that triple bottom I couldn't resist. As I could easily move the SL directly to BE I just watched what price is doing (it was now zero risk - capital preservation our no. 1 priority).
I moved the SL later a bit higher to be in profit and it nearly got hit by that big green candle's tail (lucky me).
I will now manage further and see what Price will be doing. This trade developed from a Basic PASR trade into Trend PASR (you guys and girls sure remember Strat's example on that).
Big thanks to the support from all of you here on the thread. Especially you, Strat.
Edit: the pipsometer doesn't show anything, as the indicator was removed and the objects it drew just stayed. So no Photoshop involved
.
SL: 18 Pips
TP: open, but SL already locked in at around 200 Pips
Price was inside a range. After that triple bottom I couldn't resist. As I could easily move the SL directly to BE I just watched what price is doing (it was now zero risk - capital preservation our no. 1 priority).
I moved the SL later a bit higher to be in profit and it nearly got hit by that big green candle's tail (lucky me).
I will now manage further and see what Price will be doing. This trade developed from a Basic PASR trade into Trend PASR (you guys and girls sure remember Strat's example on that).
Big thanks to the support from all of you here on the thread. Especially you, Strat.
Edit: the pipsometer doesn't show anything, as the indicator was removed and the objects it drew just stayed. So no Photoshop involved
. Accept the risk!
- #12,008
- Jul 30, 2019 1:46am Jul 30, 2019 1:46am
Hey guys, Jumped in to Daily's . Basic PASR .Anybody catch these? Had to close it prematurely (I know Strat....I shouldn't have) becos my little people wanted some profits.. GBPJPY {image} GBPCAD {image} slowly falling in love with Daily's Suranga
GBPNZD H1 SL: 50 Pips TP: open, but moved SL to profit. Closed strong below Strat Shadow and was in a good down swing. Price was bouncing inside the Shadow and finally closed below. That was my trigger to enter short. I know EMA200 was right below me. But in the end it comes down to trade management. Price went directly into my favor. We are near the bottom of the active WCC now. Didn't take profit on next SR as it closed strongly below. Price reacted afterwards to that SR. But I try to let my winners run. {image} This is what H4 looked like. {image}...
So I closed the trade now. We are at the bottom of the WCC - the SR didn't hold and buyers stepped in.
Maybe I will get another entry, but for now I am out. Just took the meat in between.
As said, risk was 50 Pips. Booked more than 4R Profit.
Accept the risk!
Nice trades Scrumy! Green pips everywhereMH
Just to show losses as well. This was a looser yesterday.
SL: 8 Pips, was hit after 3.5 Pips.
I was targeting the previous SR above.
This shows that you need to cut your loosers fast. And that is what I did.
The trade management really is the important part. So instead of taking the full loss (weeks ago I would have taken a full loss) I only took about half the loss. Price didn't want to go higher and was producing lots of wicks (sellers came in).
My current stats show, that my loosers are about three times smaller than my winners. That means I can be wrong very often and will still be profitable (in numbers: just 25% winrate would mean I would be breakeven).
Accept the risk!
- #12,015
- Jul 30, 2019 7:45am Jul 30, 2019 7:45am
- Joined Sep 2016 | Status: Inactive | 1,531 Posts
breakdown and retest of wcc {image}
high of WCC is even higher than my arrow on the chart
You are expecting the low I guess and I read it wrong. In any case , there are a few green bars before your entry.
It might start moving back down, although I don't feel so confident about that.
