back to trading
Closed it because of leaving screen, but anyway it is good S/R level so pips are pips
Green pips to all
Closed it because of leaving screen, but anyway it is good S/R level so pips are pips
Green pips to all
Strat's PASR Long Term, Stress Free Trading
- #12,083
- Edited 3:40pm Aug 7, 2019 2:47pm | Edited 3:40pm
"Couple" of M1 Trades
Today I did some M1 PASR practicing. Some exits could be improved. But overall made good profits.
Some were loosers, but that is the cost of running a trading business
.
M1 comes with a big downside: commissions are quite high (compared to higher timeframes).
EURAUD
AUDJPY
EURNZD
GBPNZD (ouch - badly managed (Edit: had to leave the PC, therefore closed))
NZDCAD (spread took me out on 1st pos)
Today I did some M1 PASR practicing. Some exits could be improved. But overall made good profits.
Some were loosers, but that is the cost of running a trading business
.M1 comes with a big downside: commissions are quite high (compared to higher timeframes).
EURAUD
AUDJPY
EURNZD
GBPNZD (ouch - badly managed (Edit: had to leave the PC, therefore closed))
NZDCAD (spread took me out on 1st pos)
Accept the risk!
"Couple" of M1 Trades Today I did some M1 PASR practicing. Some exits could be improved. But overall made good profits. Some were loosers, but that is the cost of running a trading business
Good practise Scumy
- #12,087
- Aug 8, 2019 3:23am Aug 8, 2019 3:23am
- Joined Jan 2014 | Status: Less is more ... | 9,059 Posts
Fix up, trade sharp ...
- #12,089
- Aug 8, 2019 6:25am Aug 8, 2019 6:25am
- Joined Jan 2014 | Status: Less is more ... | 9,059 Posts
Fix up, trade sharp ...
- #12,093
- Aug 8, 2019 8:56am Aug 8, 2019 8:56am
- Joined Jan 2014 | Status: Less is more ... | 9,059 Posts
Fix up, trade sharp ...
- #12,094
- Edited 4:40pm Aug 8, 2019 3:47pm | Edited 4:40pm
EURAUD M1 Bootcamp
Trade No. 1:
Entry: nice Strat Shadow, entry after two bullish candles. Shooting Star to the left. I picked the top.
Exit: fail -> full loss
Trade No. 2:
Entry: BEEB at Strat Shadow. Followed by another bearish candle, which was my entry.
Exit: after massive selling, price went into consolidation. Strat Shadow started to get flat (Strat Shadow top).
Trade No. 3:
Entry: strong bearish momentum. Entry far away from the Strat Shadow. EMA200 says: down.
Exit: small loss - price consolidated too much and was making higher lows and higher highs. Shadow converged and went flat.
Trade No. 4:
Entry: again strong bearish momentum. Entry two candles earlier would have been the better choice: closer to the Strat Shadow, lots of sellers. EMA200 still says down.
Exit: support was below, Price didn't close lower. Trade was already in good profit. Banked it.
These trades also show: losses are part of trading. But by managing the risk winners will take care of themselve.
Let me know your thoughts. Feedback welcome.
Trade No. 1:
Entry: nice Strat Shadow, entry after two bullish candles. Shooting Star to the left. I picked the top.
Exit: fail -> full loss
Trade No. 2:
Entry: BEEB at Strat Shadow. Followed by another bearish candle, which was my entry.
Exit: after massive selling, price went into consolidation. Strat Shadow started to get flat (Strat Shadow top).
Trade No. 3:
Entry: strong bearish momentum. Entry far away from the Strat Shadow. EMA200 says: down.
Exit: small loss - price consolidated too much and was making higher lows and higher highs. Shadow converged and went flat.
Trade No. 4:
Entry: again strong bearish momentum. Entry two candles earlier would have been the better choice: closer to the Strat Shadow, lots of sellers. EMA200 still says down.
Exit: support was below, Price didn't close lower. Trade was already in good profit. Banked it.
These trades also show: losses are part of trading. But by managing the risk winners will take care of themselve.
Let me know your thoughts. Feedback welcome.
Accept the risk!
Further M1 Bootcamp Trades
AUDJPY
Entry: Price nearly closed below Strat Shadow and was doing lower highs and lower lows. Entry midst of a candle that then closed below SR. EMA200 was still going up.
Exit: managed risk and took a small loss.
Improvements/Lessons Learned: as it was a high risk entry, should have taken profits earlier as Price was still above EMA200. The BUEB just above EMA200 was a good exit candle.
NZDJPY
Entry: BUEB above SR but another SR directly ahead. EMA200 going up. Spread of 2.5 pips at that time wasn't in my favor as well.
Exit: Shadow went flat. Not managed well. But hope played a significant role here (hope doesn't get us anywhere in trading).
Improvements/Lessons Learned: DO NOT TRADE INTO SR! Entry way too far from the Strat Shadow.
USDCAD
Entry: BUEB at Strat Shadow. EMA200 going up. Strat Shadow in "good shape".
Exit: BEEB after massive selling. Strat Shadow changed polarity. Time to leave. Banked good profits.
AUDJPY
Entry: Price nearly closed below Strat Shadow and was doing lower highs and lower lows. Entry midst of a candle that then closed below SR. EMA200 was still going up.
Exit: managed risk and took a small loss.
Improvements/Lessons Learned: as it was a high risk entry, should have taken profits earlier as Price was still above EMA200. The BUEB just above EMA200 was a good exit candle.
NZDJPY
Entry: BUEB above SR but another SR directly ahead. EMA200 going up. Spread of 2.5 pips at that time wasn't in my favor as well.
Exit: Shadow went flat. Not managed well. But hope played a significant role here (hope doesn't get us anywhere in trading).
Improvements/Lessons Learned: DO NOT TRADE INTO SR! Entry way too far from the Strat Shadow.
USDCAD
Entry: BUEB at Strat Shadow. EMA200 going up. Strat Shadow in "good shape".
Exit: BEEB after massive selling. Strat Shadow changed polarity. Time to leave. Banked good profits.
Accept the risk!
- #12,097
- Aug 9, 2019 3:00am Aug 9, 2019 3:00am
- Joined Jan 2014 | Status: Less is more ... | 9,059 Posts
Fix up, trade sharp ...
M1 Bootcamp
AUDCAD
Entry 1: first entry was a try to trade Basic PASR off the SR - too early, the lower low was not confirmed.
Exit: full SL hit (the only full SL today).
Improvements/Lessons Learned (I/LL): be patient, wait for confirmation. With such a good shaped Strat Shadow in place there shouldn't be any reason to go long.
Entry 2: Doji at Resistance and Strat Shadow, followed by another bearish candle. Short entry below that candle.
Exit: SL was above the Strat Shadow top which got hit.
Entry 3: Addon below BEEB
Exit: same SL as Entry 2.
CADJPY
Entry: based on M5, where price stopped at the Strat Shadow.
Exit: partial exit on previous SR and rest exited at higher low when Price went into the Strat Shadow.
I/LL: even when this was a winner, there was (at least on M1) no smooth sawtooth structure. Very risky entry looking at it now after the fact.
M1
and here you can see the entry on M5
EURAUD
Entry 1: BUEB at SR and confirmation of it. Lots of preceeding bullish candles. Late to the party.
Exit: Price went with a BEEB into the Shadow. Small winner.
Entry 2: Strat Shadow change polarity and did a retest of the Strat Shadow.
Exit: Partial close after "hammerish" candle at EMA200. Rest was set to BE and got out at EMA200.
EURGBP
Entry 1: Strat Shadow changed polarity. Retest of Strat Shadow. Price was above EMA200. High risk entry.
Exit: already moved SL. Managed risk. Took -0.6R loss.
Entry 2: dumbest entry of the day. Strat Shadow changed polarity and I hopped directly onto the trade. Didn't wait for confirmation and paid for it.
Exit: already moved SL. -0.75R.
I/LL: wait for confirmation of Strat Shadow changing polarity.
EURNZD
Entry: BUEB, EMA200 up. Strat Shadow very nice.
Exit: moved the SL, after price went into the Shadow I exited.
I/LL: Nothing - expect being late to the party. Price could have 'danced' longer to the upside but it didn't (Dr. Joe).
GBPJPY
Entry: long entry at BUEB directly after Strat Shadow changed polarity. EMA200 was down.
Exit: long wicks.
I/LL: don't mess with EMA200, better to skip those trades.
NZDCAD
Entry: BEEB followed by another strong bearish candle. Entry below. EMA200 and Strat Shadow in good shape.
Exit: big bullish candle made me leave.
I/LL: SR was directly below my entry
Key takeaways of today's trading
Lots of trading. Output in total was now about -0.5R.
Let me know if this is of any use for you (or if I am just cluttering the thread). Otherwise I am thinking about opening a Trading Journal here on FF. You know, to stay accountable. Again, feedback welcome.
Good weekend.
AUDCAD
Entry 1: first entry was a try to trade Basic PASR off the SR - too early, the lower low was not confirmed.
Exit: full SL hit (the only full SL today).
Improvements/Lessons Learned (I/LL): be patient, wait for confirmation. With such a good shaped Strat Shadow in place there shouldn't be any reason to go long.
Entry 2: Doji at Resistance and Strat Shadow, followed by another bearish candle. Short entry below that candle.
Exit: SL was above the Strat Shadow top which got hit.
Entry 3: Addon below BEEB
Exit: same SL as Entry 2.
CADJPY
Entry: based on M5, where price stopped at the Strat Shadow.
Exit: partial exit on previous SR and rest exited at higher low when Price went into the Strat Shadow.
I/LL: even when this was a winner, there was (at least on M1) no smooth sawtooth structure. Very risky entry looking at it now after the fact.
M1
and here you can see the entry on M5
EURAUD
Entry 1: BUEB at SR and confirmation of it. Lots of preceeding bullish candles. Late to the party.
Exit: Price went with a BEEB into the Shadow. Small winner.
Entry 2: Strat Shadow change polarity and did a retest of the Strat Shadow.
Exit: Partial close after "hammerish" candle at EMA200. Rest was set to BE and got out at EMA200.
EURGBP
Entry 1: Strat Shadow changed polarity. Retest of Strat Shadow. Price was above EMA200. High risk entry.
Exit: already moved SL. Managed risk. Took -0.6R loss.
Entry 2: dumbest entry of the day. Strat Shadow changed polarity and I hopped directly onto the trade. Didn't wait for confirmation and paid for it.
Exit: already moved SL. -0.75R.
I/LL: wait for confirmation of Strat Shadow changing polarity.
EURNZD
Entry: BUEB, EMA200 up. Strat Shadow very nice.
Exit: moved the SL, after price went into the Shadow I exited.
I/LL: Nothing - expect being late to the party. Price could have 'danced' longer to the upside but it didn't (Dr. Joe).
GBPJPY
Entry: long entry at BUEB directly after Strat Shadow changed polarity. EMA200 was down.
Exit: long wicks.
I/LL: don't mess with EMA200, better to skip those trades.
NZDCAD
Entry: BEEB followed by another strong bearish candle. Entry below. EMA200 and Strat Shadow in good shape.
Exit: big bullish candle made me leave.
I/LL: SR was directly below my entry
Key takeaways of today's trading
- don't do countertrend trades on M1
- don't mess with the EMA200 - trade in the direction of it, even when Strat Shadow changes polarity
- wait for a confirmation/retest of a broken Strat Shadow, see the following post on the old thread...
{quote} ... Somewhere back in this thread I said the Strat Shadow is your road map - it still is, and always will be, since it is based on PASR, the basics and foundation of trading. Trading on the correct side of the Strat Shadow is trading with the trend. Trading against it is counter trend trading. Go back and read and understand my post where I showed the POSITIVE and NEGATIVE Strat Shadow. The HIGHEST RISK area to trade is at trend change, ANY TREND CHANGE on ANY TIME FRAME. This is where PRICE goes through the Strat Shadow, changing its polarity,...
Let me know if this is of any use for you (or if I am just cluttering the thread). Otherwise I am thinking about opening a Trading Journal here on FF. You know, to stay accountable. Again, feedback welcome.
Good weekend.
Accept the risk!
