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Strat's PASR Long Term, Stress Free Trading

Quoting Malu
Hello to all of you, maybe some of you still know me, I was active in this threat until the beginning of 2019. Unfortunally I had some serious health issues starting at the beginning of 2019, which I had to fix first (don't want to bother you with any details). That took more then 1 year and in this time I stopped trading completly (as health & family first). But since almost 6 months I am back to trading, I never left the path and I try to post more again. Some names in this threat are still familiar to me, so I am happy that you guys are still...
Welcome back and well done.
12 YEARS OF PASR ON FOREX FACTORY!
Quoting Suran
Couple of trades today EURUSD M5 {image} GBPNZD M5 {image} Suranga
Suranga, your EURUSD is spot on but your GBPNZD is NOT PASR M5 trading. Make sure you get out at the first sign of PASR - you were lucky the trend resumed after PRICE fell out of bed - there will be other times when you will get punished and especially on GBPNZD.

The reason I don't trade GBPNZD now is:

The SPREAD is too high - even with my A1 Book broker status - EURNZD spread was even more today.

The pip value of GBPNZD is ONLY $7.19 compared to GBPUSD which is $10

GBPUSD is only 1-2 pips spread and the pips move is the same in $ - bigger BANG for your buck!
12 YEARS OF PASR ON FOREX FACTORY!
Hello all, I'm new here and love the thread because it is how i have been trading for the past number of year. I have not yes read the entire thread ad I do use the 20 and 50 ema with price action almost identical to this thread.
At this moment there maybe a very good setup on gbp/jpy daily sniffing the 1/09/2020 high at 142.710 ( Adelaide Time in Australia )
On this one there could be a pullback but if not there is some good upside to view.


All the best.
P.S. from my last post, I hope to show some strength in the DAILY CLOSE price and how traders can use this close with the 20 or 50ema as a stand alone trading method- more on this later because I am back testing on the 4hr charts ATM.


good luck
Quoting peterhenders
Hello all, I'm new here and love the thread because it is how i have been trading for the past number of year. I have not yes read the entire thread ad I do use the 20 and 50 ema with price action almost identical to this thread. At this moment there maybe a very good setup on gbp/jpy daily sniffing the 1/09/2020 high at 142.710 ( Adelaide Time in Australia ) On this one there could be a pullback but if not there is some good upside to view. All the best.
Welcome cobber and good on yer mate!

Start with my old ORIGINAL thread and you will find why you will lose out using the 50 ema!

Study my GBPUSD D1 chart and SEE how the Strat Shadow stops PRICE dead in it's tracks!

Also, please remember to include charts.
12 YEARS OF PASR ON FOREX FACTORY!
Quoting peterhenders
P.S. from my last post, I hope to show some strength in the DAILY CLOSE price and how traders can use this close with the 20 or 50ema as a stand alone trading method- more on this later because I am back testing on the 4hr charts ATM. good luck
I am back testing on the 4hr charts ATM.

Back testing is the BIGGEST waste of time for anyone - all it tells you is what happened IN THE PAST. The past does not predict the future. You should ONLY do FORWARD LIVE TRADING for your results to mean anything.

For what it's worth, I have over 20 years of FORWARD LIVE TRADING and NOTHING has changed - only the 50 ema
12 YEARS OF PASR ON FOREX FACTORY!
While looking for PA to get long back into the GBPUSD on M15 or H1, dropped down to the M5 and entered there. Not trading as M5, only used for early entry.

Price moved back through the top of the WCC so will see how the worker closes EOD.
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Attachment 3847441
As promised, this is a GBP/USD daily chart from March this year up to today. What I like about it is that it is a microcosm of the market. You have everything, easily placed S/R lines, which are established early on, and reverberate later for TP or SL placement. Nice clear price action bar formations, for example, Pin bars, Buob, Beob, Dhlc, doji even THLC!!

However, in order to interpret this chart you need to understand price bars, and that takes time.

If you had been riding this wave, bar by bar and S/R to S/R you would be very much in profit.

There are 2 day pins, and the break down of price action bars to signal the other way.

See it like a blueprint if you like.

To my mind, and experience, if you cannot successfully trade the daily charts, with raw naked bars and S/R your not ready to move on. It's the nursery or kindergarten of trading. In one you learn the ABC'S in the other you learn the Pins, beob and Dhlc.

By having a simple trading strategy, that is consistently repeatable in application, you can build a trading log, which leads to your P/L ratio, which leads to risk allocation, which is based on your P/L ratio.

Price bar action tells you when to enter, and when to leave IF you can get out the way.

Question: If you have a losing trade, where you wrong or did you misunderstand and misinterpret the markets. The problem is that you don't even know what you don't even know yet, because you can't think what you want to think, because you don't know what you need to know in order to think what you want to think.

Which is fine because you act as my liquidity provider as I take all your money, and you didn't even know it was me. I bought your SL, I filled your TP, I filled your market order, why, because I look for them and I know what you need to know.

Frightened?? You should be, because there are sharks in these waters. I am one of them.

Before you think I suffer from delusions of grandeur, claiming that I AM THE MARKET, think about it.

If I am not at one with the market, how can I be successful ?

How can I get my volumes filled if there is no liquidity?

All market participants need to be doing the same thing, at the right time in order to be a winner. The rest just provide liquidity, which is important for me so keep it up!

Hope you enjoy this first slice of Pizza.

Let me know any questions you have.Attachment 3847441
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Hello, I'm trading the H4 so the daily candle is the control candle. Do I have this correct?
Thank u
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Quoting tacokiller
Hello, I'm trading the H4 so the daily candle is the control candle. Do I have this correct? Thank u {image}
the control candle is the weekly candle
Quoting Baba G
Let me know any questions you have
Hello Baba G,
Please sympathize if I use bad words, my English is bad, I am using Google Translate.
Thank you for letting me know that we can track the sharks. I really appreciate the information you are contributing to this this. My question is: what are your plans with the price action bars on your charts?
Patience
Quoting strat
{quote} Definitely not a stupid question, Terry. See the chart. I need to capture the latest price action swings but when you add the fib extension to different time frames you will see a confluence of targets within several pips. Start using both fib tools and you will see many more trading opportunities but remember, it is ONLY a tool - it is not cast in concrete - PASR usurps that. By the way Terry, looking back at your recent posts, it seems the penny has finally dropped and you have got your mojo working - well done! {image}
Thanks Strat, appreciate your response and your well wishes.

Regards
Terry
Hello,

Today there was a good one and a bad one.

GBP NZD M5 Trend Trading
(...this is the bad one. Lost a few pips on that. But at least I decided to get out soon enough.)

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EUR AUD M5 Trend Trading
(.. this is the good one!)
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Greetings...
NEWS TRADING

You read that the majority of people on public trading threads preach "Avoid trading news events/news/news days" - why do they say this? - because they do not understand PRICE, SUPPORT, RESISTANCE, MONEY MANAGEMENT, MARKET STRUCTURE and, if they are honest, how to trade to be consistently profitable. There is only one other consistently profitable trader I know of on FF who trades news - Davit.

It is true that, if you don't know what you are doing, you will lose your ass trading news events. Spend the hours and time understanding PASR and how to profitably benefit from news trading.

So, while the majority sat on their ass and did nothing except wishing they were in, PASR traders profited all the way to the bank with around 80 easy pips per USD pair and PRICE has still not finished - but I have!

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12 YEARS OF PASR ON FOREX FACTORY!
Quoting strat
{quote} Suranga, your EURUSD is spot on but your GBPNZD is NOT PASR M5 trading. Make sure you get out at the first sign of PASR - you were lucky the trend resumed after PRICE fell out of bed - there will be other times when you will get punished and especially on GBPNZD. The reason I don't trade GBPNZD now is: The SPREAD is too high - even with my A1 Book broker status - EURNZD spread was even more today. The pip value of GBPNZD is ONLY $7.19 compared to GBPUSD which is $10 GBPUSD is only 1-2 pips spread and the pips move is the same in $ - bigger...
Hi Strat

Can you please explain a bit more about pip value concept.

Thanks
Quoting Malu
Hello, Today there was a good one and a bad one. GBP NZD M5 Trend Trading (...this is the bad one. Lost a few pips on that. But at least I decided to get out soon enough.) {image} EUR AUD M5 Trend Trading (.. this is the good one!) {image} Greetings...
You are very lucky because you do not really understand PASR!

You are at STAGE 4 on Page 1

You do not understand what my definition of a trend is - go back and read ALL my posts on M5 trend trading.

GBPNZD is NOT in a M5 trend!

The Asian M5 trend ENDED 11/2 hours BEFORE London Open and then Frankfurt FAILED to continue the trend.

London Open swung VIOLENTLY down for 36 pips confirming the end of any M5 trend. From there PRICE went into a RANGE swinging about 70 pips so you should have been trading BASIC PASR as I marked up on your chart.

In addition, you are IGNORING PASR - PRICE, SUPPORT, RESISTANCE and CANDLE TYPES!

My suggestion is to go back to the beginning of THE PATH before you do serious financial damage.

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12 YEARS OF PASR ON FOREX FACTORY!
Quoting saab25
{quote} Hi Strat Can you please explain a bit more about pip value concept. Thanks
Each pair has a pip value based on the currency being traded against.

For example:

GBPUSD pip value is $10 per pip on a standard lot size determined by USD so all pairs trading against USD will have a $10 per pip value.

GBPNZD pip value just now is $7.17 - all NZD pairs are $7.17 pip value just now.

Except for USD (world currency), which is locked at $10, all other currencies change in accordance with current interest rates, supply and demand meaning that the pip value changes.

Currently, NZD is the worst at only $7.17 per pip, the best is EURGBP at $13.72 per pip.

I suggest you contact your broker for complete details
12 YEARS OF PASR ON FOREX FACTORY!
Quoting strat
{quote} My suggestion is to go back to the beginning of THE PATH before you serious financial damage. {image}
Thanks for the straight answer - will do so. Got the point.
I assume it is still ok posting my trades to get your feedback (to improve)?!?
Quoting TerryDawe
{quote} Great entry signal Pete, classic hammer at support (demonstrating significance of the Strat shadow). What time zone do you live since this signal occurred at the start of the London session and I only saw it well after it appeared. By the time I got to my charts in the morning price had already reached the H1 resistance level. {image} {image} {image}
HI Terry, I am in GMT + 2 so I can see both London and New York open. Unfortunately this clashes with my day job so I do not always have the luxury to be watching the charts at the time. I do try to manage that by setting and forgetting trade entries when I cannot be at the charts.

Pete
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