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Strat's PASR Long Term, Stress Free Trading

  • #13,241
  • Jun 23, 2020 1:29am Jun 23, 2020 1:29am
Quoting Lou
{quote} If you think of support and resistance as an area or range of pips that traders have rejected and not a 1 pip horizontal line would that be helpful ? Once determining the range, a trader can decide where in the range to draw the S/R line. I don't recall Strat having a strict rule about this .
Hi voynich

In addition to Lou's comments Strat did always emphasize the importance of the candle closing before making any trading decisions. The candle close values on the time frame you are drawing S/R levels does therefore become important. The high low values on that time frame could very well be close or open values on another time frame due to the fractal nature of the charts / markets. The more touch points to the SR line you are drawing through open / close /high /low the more valid that level becomes.

Regards
Pete
  • #13,242
  • Jun 23, 2020 7:44am Jun 23, 2020 7:44am
EurUsd 15M Basic PASR
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  • #13,243
  • Jun 23, 2020 10:33pm Jun 23, 2020 10:33pm
Quoting JCMPete
EurUsd 15M Basic PASR {image}
I have 1 similar transaction at M5 time
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  • #13,244
  • Jun 25, 2020 5:46am Jun 25, 2020 5:46am
eu M5
closed. the rest is on the table
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  • #13,245
  • Jun 25, 2020 10:15am Jun 25, 2020 10:15am
Quoting voynich
eu M5 closed. the rest is on the table {image}

Nice... looks like a close call re your stop.
  • #13,246
  • Jun 26, 2020 2:25am Jun 26, 2020 2:25am
Quoting voynich
eu M5 closed. the rest is on the table {image}
I would have been stopped out on that, as I would have put my stop loss above the bar that triggered your entry.
  • #13,247
  • Jun 26, 2020 7:38am Jun 26, 2020 7:38am
Quoting Rub
{quote} I would have been stopped out on that, as I would have put my stop loss above the bar that triggered your entry.
mr start's teaches: the advantage of trading M5 is small stoploss but big profit, so he taught placing st at the top / bottom of the candle on the order
but since we don't have an exact entry point (or sometimes a bigboy's stoploss scan before the price runs), so I chose to place the stoploss at the supply / demand M5 area first.
Profits have decreased because the stoploss is far, but the win rate is improved to compensate => better mentality
sorry my english is not good
  • #13,248
  • Jun 26, 2020 7:41am Jun 26, 2020 7:41am
Quoting Lou
{quote} Nice... looks like a close call re your stop.
thanks
that stoploss I moved when the price ran,
My original stoploss in HH earlier
  • #13,249
  • Jun 26, 2020 8:00am Jun 26, 2020 8:00am
GU today
I exited when the bottom test candlestick failed to form a bueb reversal candle: and a large amount of money was left behind by me.
I still haven't improved the exit signal when the BEEB / BUEB candle reversed. Can anybody give me advice?
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  • #13,250
  • Jun 26, 2020 8:15am Jun 26, 2020 8:15am
Quoting voynich
GU today I exited when the bottom test candlestick failed to form a bueb reversal candle: and a large amount of money was left behind by me. I still haven't improved the exit signal when the BEEB / BUEB candle reversed. Can anybody give me advice? {image}
It was good call to close trade. Better question why you did not hop on established trend afterwards?

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  • #13,251
  • Jun 26, 2020 9:21am Jun 26, 2020 9:21am
Quoting Mhons
{quote} It was good call to close trade. Better question why you did not hop on established trend afterwards? {image}
With limited knowledge, I only choose trades that are standard beeb / bueb candles
If I take out all the signals for a recuperating wave, I will be in a panic because I see everywhere the entry point
am i wrong
Thank you, old acquaintance. I am duacamammuoi, hi
  • #13,252
  • Jun 26, 2020 12:00pm Jun 26, 2020 12:00pm
Quoting voynich
GU today I exited when the bottom test candlestick failed to form a bueb reversal candle: and a large amount of money was left behind by me. I still haven't improved the exit signal when the BEEB / BUEB candle reversed. Can anybody give me advice? {image}
Hi voynich

Maybe you need to expand your view a bit? At the time of your entry and exit price was still very much undecided...

Regards
Pete
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  • #13,253
  • Jun 26, 2020 12:22pm Jun 26, 2020 12:22pm
Quoting Rub
{quote} I would have been stopped out on that, as I would have put my stop loss above the bar that triggered your entry.
But why Rub?

Just take one step back on the 15M chart.... but then again, the entry was not according to Strat's 5M PASR Trend Rules.

regards
Pete
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  • #13,254
  • Jun 26, 2020 12:41pm Jun 26, 2020 12:41pm
Quoting voynich
{quote} With limited knowledge, I only choose trades that are standard beeb / bueb candles
Hi Voynich

To trade Strat's 5M Trend PASR you need a bit more than choosing trades based on standard beeb / bueb candles...

There are many posts on this thread by Strat himself explaining what to look for in trading the 5M timeframe. Do a search on this thread, read and if you do not understand please ask. Above all, keep posting...it is the only way to learn!

Regards
Pete
  • #13,255
  • Jun 26, 2020 9:14pm Jun 26, 2020 9:14pm
Quoting JCMPete
{quote} Hi voynich Maybe you need to expand your view a bit? At the time of your entry and exit price was still very much undecided... Regards Pete {image}
Are you talking about SR 1.240 and also the bottom of the previous day? and I sold at support?
  • #13,256
  • Jun 26, 2020 9:21pm Jun 26, 2020 9:21pm
EU:
I sell when there are 2 standard beeb candles
and price stopped at SR area on TF H1 with bueb candle on TF M5, I exited with a small profit (smaller than the risk if I lose)
Star't always teach: M5 trader holds a small stoploss and a big profit, that's an advantage
but I have widened the stoploss, reduced the profit but increased the win rate because when I put the stoploss close (above the shadow of the candle to the order + speard) I often lost a lot
Hope pete, mhons and everyone give me advice
thanks
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  • #13,257
  • Jun 26, 2020 10:04pm Jun 26, 2020 10:04pm
[quote = strat; 10408673] Comerciantes profesionales vs aficionados Aquí hay una cita del libro, "Técnicas de lectura en cinta", de Vadym Graifer y Christopher Schumacher: "Los profesionales hacen un intercambio cuando se sienten cómodos con el riesgo, mientras que los aficionados lo hacen cuando les gusta el beneficio potencial ". [/ quote]
A merchant has a series of obligations of different order, which may be commercial, accounting, tax, etc., and many times it is not clear to us that we are merchants, which leads us to breach certain obligations due to such ignorance.
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  • #13,258
  • Jun 27, 2020 4:52am Jun 27, 2020 4:52am
Quoting voynich
EU: I sell when there are 2 standard beeb candles and price stopped at SR area on TF H1 with bueb candle on TF M5, I exited with a small profit (smaller than the risk if I lose) Star't always teach: M5 trader holds a small stoploss and a big profit, that's an advantage but I have widened the stoploss, reduced the profit but increased the win rate because when I put the stoploss close (above the shadow of the candle to the order + speard) I often lost a lot Hope pete, mhons and everyone give me advice thanks {image}
Absolute mess
  • #13,259
  • Jul 1, 2020 10:08am Jul 1, 2020 10:08am
guys, any ideas how to code Strat shadow on Think or Swim platform? thanks
  • #13,260
  • Jul 3, 2020 3:51am Jul 3, 2020 3:51am
Hmm,

I was thinking if I should post this 5M trade but maybe it would be helpfull for someone's learning pourposes.
Is anyone up to the challange to decode why I took it?

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