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Strat's PASR Long Term, Stress Free Trading

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  • Post #14,041
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  • Feb 26, 2021 2:46am Feb 26, 2021 2:46am
  •  bistolis
  • Joined Sep 2016 | Status: Inactive | 821 Posts
Quoting sangnt0904
Disliked
{quote} Hello bistolis, Can you ask me about your trading management with these long wick candles? How long have you kept your trades for so long? Thank you very much {image}
Ignored
Because I dont see any reason there to exit, there was no resistance that was meaningful to me.
The most important thing is the shadow , which gives me confidence that this will keep moving up (until it doesnt )

As long as price is below you dont need to worry that much of this reversing on you. And if it does, then your loss is well defined and you exit your trade.

GBPJPY M5.
It moved quite a bit since late NY session. Probaby I will stay away from my charts today
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You want that kind of shadow forming along the way or as in my EJ example. Support or resistance taken from H4 D1 and thats all you need to start creating a plan for your trades.
1
  • Post #14,042
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  • Feb 26, 2021 3:14am Feb 26, 2021 3:14am
  •  sangnt0904
  • | Joined Sep 2019 | Status: Trade what you see! | 85 Posts
Quoting bistolis
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{quote} Because I dont see any reason there to exit, there was no resistance that was meaningful to me. The most important thing is the shadow , which gives me confidence that this will keep moving up (until it doesnt ) As long as price is below you dont need to worry that much of this reversing on you. And if it does, then your loss is well defined and you exit your trade. GBPJPY M5. It moved quite a bit since late NY session. Probaby I will stay away from my charts today {image}You want that kind of shadow forming along the way or as in...
Ignored
Thanks for your feedback!
Your post helped me a lot. I really appreciate and be grateful to you.
The lesson for me is to always plan before looking for a trade.
Patience
  • Post #14,043
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  • Feb 26, 2021 4:31pm Feb 26, 2021 4:31pm
  •  Rub
  • | Joined Oct 2015 | Status: Member | 849 Posts
On a topic that doesn't come up quite as much as entries, or correct drawing of support and resistance.
I've included the boss and big boss for context of where I've drawn from.


Who took profit on the GBP here?
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  • Post #14,044
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  • Feb 26, 2021 6:36pm Feb 26, 2021 6:36pm
  •  TerryDawe
  • Joined Jun 2015 | Status: Member | 410 Posts
Quoting Rub
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On a topic that doesn't come up quite as much as entries, or correct drawing of support and resistance. I've included the boss and big boss for context of where I've drawn from. Who took profit on the GBP here? {image} {image} {image}
Ignored
Hey Rub,

Yes I did take some profits on my long from a few weeks ago when price hit the BB resistance area as noted.
  • Post #14,045
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  • Feb 26, 2021 6:50pm Feb 26, 2021 6:50pm
  •  TerryDawe
  • Joined Jun 2015 | Status: Member | 410 Posts
Sore thumb trade on H4 from yesterday on EURUSD:
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  • Post #14,046
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  • Feb 28, 10:01pm (32 hr ago) Feb 28, 10:01pm (32 hr ago)
  •  sangnt0904
  • | Joined Sep 2019 | Status: Trade what you see! | 85 Posts
This is trading this morning on GBPCHF M5 (Although this pair is not recommended for trading).
I see price found resistance on the M5 and I have closed my trade.
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Patience
  • Post #14,047
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  • Mar 1, 4:43am (25 hr ago) Mar 1, 4:43am (25 hr ago)
  •  Suran
  • Joined Mar 2018 | Status: Member | 585 Posts
Quoting sangnt0904
Disliked
This is trading this morning on GBPCHF M5 (Although this pair is not recommended for trading). I see price found resistance on the M5 and I have closed my trade. {image}
Ignored
Strat recomonded to trade this pair provided that its very small time frame trade. mean you get out quick.

Further the level you exit was major level in higher time frames.So you took good discision to exit
If I was in trade and didnt exit that place then I would definetly exit the BEEB marked
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Focus, Patience, Discipline, Determination and Perseverance
  • Post #14,048
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  • Mar 1, 11:22am (19 hr ago) Mar 1, 11:22am (19 hr ago)
  •  Alesiosc
  • | Joined Feb 2019 | Status: Member | 284 Posts | Online Now
potential trade
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If at first you don't succeed, try, try again.
  • Post #14,049
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  • Mar 1, 10:38pm (7 hr ago) Mar 1, 10:38pm (7 hr ago)
  •  Suran
  • Joined Mar 2018 | Status: Member | 585 Posts
Quoting Alesiosc
Disliked
potential trade {image}
Ignored
I've lost countless amount of trades trying to counter trend trade in the past.

Let's analyse your chart

H4 - trend ?

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M30 - Trend?

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Name: GBPUSDM30.png
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You see why you lost that trade?
Focus, Patience, Discipline, Determination and Perseverance
  • Post #14,050
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  • Last Post: Mar 2, 3:41am (2 hr 51 min ago) Mar 2, 3:41am (2 hr 51 min ago)
  •  Alesiosc
  • | Joined Feb 2019 | Status: Member | 284 Posts | Online Now
not to worry Suran. just miss timed it....back in again already....thanks for your input though
If at first you don't succeed, try, try again.
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