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Strat's PASR Long Term, Stress Free Trading

  • #13,781
  • Jan 28, 2021 12:11pm Jan 28, 2021 12:11pm
Quoting strat
{quote} Wow Pete, you must really love wild swings - today's Grand Old Duke of York action would have done my head in!
Hi Strat

Thank you for your response, it is really great to have you back!

Pete
  • #13,782
  • Jan 28, 2021 12:23pm Jan 28, 2021 12:23pm
Quoting Baba G
{image}
HI Baba G

Thank you for this chart and commentary in the previous post. I do have two questions if I may. Could you please explain what you mean by the collapse of the price action and secondly you mention B/E. What does this mean please?

Thanks
Pete
  • #13,783
  • Jan 28, 2021 12:30pm Jan 28, 2021 12:30pm
Quoting Malu
{quote} 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)?!?
Yes, everyone should post their trades - the good, bad and ugly AND all PASR traders on here should comment also.
15 YEARS OF PASR ON FOREX FACTORY!
  • #13,784
  • Jan 28, 2021 12:53pm Jan 28, 2021 12:53pm
Quoting saab25
{quote} Hi Strat Can you please explain a bit more about pip value concept. Thanks
additionally you can use this tool (many other sites offer similar) to calculate how much you would gain on certain amount of pips, on a specific currency pair, converted to your account currency (GBP EURO USD in this case)
as an example: the pip value for EURUSD is 1pip= € 8.90187
Attached Image


https://www.forextime.com/eu/trading...pip-calculator
  • #13,785
  • Jan 28, 2021 1:34pm Jan 28, 2021 1:34pm
Hi strat,
I would like shot at answer you question on what the candle is also telling us. Is it that it closed outside the CC (control candle) ? Please see attached picture
Kind regards
Craig
Attached Image (click to enlarge)
Click to Enlarge Name: 20210128_192945.png Size: 47 KB
  • #13,786
  • Jan 28, 2021 1:50pm Jan 28, 2021 1:50pm
Quoting irishcraig09
Hi strat, I would like shot at answer you question on what the candle is also telling us. Is it that it closed outside the CC (control candle) ? Please see attached picture Kind regards Craig {image}
I would say bullish outside bar that is crossing through the shadow and closing above
  • #13,787
  • Jan 28, 2021 2:06pm Jan 28, 2021 2:06pm
Quoting bistolis
{quote} I would say bullish outside bar that is crossing through the shadow and closing above
Good call
  • #13,788
  • Jan 28, 2021 2:36pm Jan 28, 2021 2:36pm
Thanks for your questions.

To answer how you trade the chart I posted.

This is done by reading the price bar action, pin, beob etc.

In order to do this you must undertake a study in price bars and become as familiar with them as you would a language. Secondly you need to make a study into S/R lines and their placement.

Both of these studies take time and practice, and is something you may want to do as homework, when you are not pursuing and learning Strats lower time frame entry system.

To clarify B/E, that is break even.

The collapse of price bar action is when a set up is directing you to go down, but eventually goes up and breaks the downward pointing price bar signal.

Price bars, and their formation are indicators that carry consensus. That is why they work. They also offer a clearly defined SL placement. Now, working with the correct placement of S/R, you can select a reasonable TP in or around the S/R, or let it run, or tighten your stop loss.

The fact that a price bar action set up fails, is also by consensus, and so the opportunity arises for you to trade the price bar action in the contrary way.

Higher time frame bars carry more consensus, and so they can direct you on the lower, as with Strats method.

The downside is that there will be fewer signals on the daily, and bigger SL, and therefore less value to your pip. However, if you get really good at selecting your trades, you can increase your risk in line with your profit/loss ratio.

Ultimately your goal should be to read and flow with the market, which takes years, and kick the can down the road on making millions.

If you do your homework the millions will come.
  • #13,789
  • Jan 28, 2021 2:56pm Jan 28, 2021 2:56pm
Quoting irishcraig09
Hi strat, I would like shot at answer you question on what the candle is also telling us. Is it that it closed outside the CC (control candle) ? Please see attached picture Kind regards Craig {image}
Search both threads for:

Strat Straddle

Straddle
15 YEARS OF PASR ON FOREX FACTORY!
  • #13,790
  • Jan 28, 2021 3:58pm Jan 28, 2021 3:58pm
Quoting strat
{quote} Search both threads for: Strat Straddle Straddle
Thanks strat,
Post #11,581

More reading the weekend,
Craig
  • #13,791
  • Jan 28, 2021 4:07pm Jan 28, 2021 4:07pm
PASR in action:
What next?
This last bullish candle was at the location Strat noted in his post regarding the USD news.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdh4.PNG Size: 51 KB
  • #13,792
  • Jan 28, 2021 4:25pm Jan 28, 2021 4:25pm
Quoting strat
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...
This is really, really impressive.

You are all very lucky to have Strat.

He called it.

Mike drop!
  • #13,793
  • Jan 28, 2021 4:58pm Jan 28, 2021 4:58pm
Quoting strat
{quote} 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.
Hello Strat, and thank you for your warm welcome, I dont understand your meaning of the Strat shadow but would love to see a chart on this subject.
My aim is to share ( it does NOT belong to me or anyone else) a method I have been using at support and resistance areas for the past number of years.
The back testing is what I will be doing from the start date until the satisfied date. It is NOT going back in history but trading real time with start and Finnish dates.
I'll get some time soon to post the charts and if you prefer I'll use the 63 ema.
My aim to to share an entry method with the daily close price that is very simple and very effective on the daily charts, all based on Price at support/ resistance zones.
I hope to have charts posted over the coming weekend as now I need to look back over the 50 and 63ema.


Take care all,
  • #13,794
  • Jan 28, 2021 5:23pm Jan 28, 2021 5:23pm
Quoting Malu
Hello, Today there was a good one and a bad one. ...} EUR AUD M5 Trend Trading (.. this is the good one!) {image} Greetings...

This EURAUD selling started from H1 SS. (I was in the trade but had to close it prematurely as I had to close the charts for other reason. couldn't baby sit)

Attached Image (click to enlarge)
Click to Enlarge Name: EURAUDH1.png Size: 34 KB
Focus, Patience, Discipline, Determination and Perseverance
  • #13,795
  • Jan 28, 2021 6:02pm Jan 28, 2021 6:02pm
Quoting strat
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...
Hi Strat ,

Thank you very much for the lessons. Are you trading all the news with PASR this way or any particular news..? I mean do you avoid NFP or it doesn't matter to you..


Rgds

Suranga
Focus, Patience, Discipline, Determination and Perseverance
  • #13,796
  • Jan 28, 2021 6:08pm Jan 28, 2021 6:08pm
Ok, the Miss's had shut her mouth for 27 minutes so I found some time up my sleeve. I may even do some studies on SUPER GLUE and see if I can get time to post more charts.
There is nothing better than trading from sup-res using price action and it is enough to make any trader live a comfortable life.
I have added the following chart as the way I have been trading for the past number of years. I have only recently discovered the use of the 9ema and this is the tool that was used, from students, to identify additional entries. In my personal trade , like I pointed out with G/J yesterday, I will ride the 50 ema and hold until a certain hole in my lower body parts starts to burn. If I see price hitting either of the ema's I will open additional entries and can have many opens on only one pair- depending on the strength of the trend ( see above the daily ) .
I'm happy to answer any questions ( just remember about her long disturbing conversation) and I am more into helping traders than making them feel uncomfortable.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy-d1-axicorp-financial-services daily close with 9 20 50 ema.png Size: 83 KB
  • #13,797
  • Jan 28, 2021 10:25pm Jan 28, 2021 10:25pm
Quoting bistolis
{quote} additionally you can use this tool (many other sites offer similar) to calculate how much you would gain on certain amount of pips, on a specific currency pair, converted to your account currency (GBP EURO USD in this case) as an example: the pip value for EURUSD is 1pip= € 8.90187 {image} https://www.forextime.com/eu/trading...pip-calculator
Appreciate your help.
  • #13,798
  • Jan 29, 2021 8:18am Jan 29, 2021 8:18am
Since Strat brought up the significance of his Straddle I thought I would search one out and demonstrate its effectiveness. This is not a guaranteed signal but when it occurs in the right conditions, it can provide a good entry signal with minimal risk.

GBPUSD M1 this morning. If you look to the H1 overnight you can also see a good example of a similar condition. In this case you would have obviously taken the long following the BUEOB but there was also a nice straddle which added strength to the signal.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GBPUSDM1.png Size: 36 KB
Click to Enlarge Name: GBPUSDH1.png Size: 31 KB
  • #13,799
  • Jan 29, 2021 8:29am Jan 29, 2021 8:29am
Quoting TerryDawe
Since Strat brought up the significance of his Straddle I thought I would search one out and demonstrate its effectiveness. This is not a guaranteed signal but when it occurs in the right conditions, it can provide a good entry signal with minimal risk. GBPUSD M1 this morning. If you look to the H1 overnight you can also see a good example of a similar condition. In this case you would have obviously taken the long following the BUEOB but there was also a nice straddle which added strength to the signal. {image} {image}
Nice trade
This morning as well
Attached Image (click to enlarge)
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  • #13,800
  • Jan 29, 2021 8:38am Jan 29, 2021 8:38am
M5 trading
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