Strat's PASR Long Term, Stress Free Trading | Page 713 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

MY PASR journey Based on Strat's PASR Trading 76 replies

M5 PASR Trend Trading Strat 95 replies

My PASR Trend Trading Journals 3 replies

A young trader's road to profitability - PASR trading - Live 11 replies

Fibs trading and PASR 0 replies

Attachments: Strat's PASR Long Term, Stress Free Trading
Exit Attachments

Strat's PASR Long Term, Stress Free Trading

  • #14,241
  • Mar 25, 2021 1:21pm Mar 25, 2021 1:21pm
Quoting JCMPete
{quote} Hi Eushev Price is also breaking out of the top of the WCC. If it does close above this week, you could also look for a possible retest off the top of the WCC. Regards Pete {image}
Thanks JCMpete I will do if opportunities present itself. No other positions opened. I am also trading stocks which is not subject to this thread. PASR is good way to trade stocks- I am using PASR only on weekly chart for stocks as I am looking for longer positions for few months.
You attract what you think in any area of life, relationships and trading!
  • #14,242
  • Mar 25, 2021 3:06pm Mar 25, 2021 3:06pm
Quoting 2hpriest
{quote} Hey, Lou Looking at the H4 myself now, i see the reason for the curiosity. But on the Boss and Worker they are marked in the colours (too many colours). Still waiting for your opinion on it all the same. Thank you
Hi... My question was simply what does SNR stand for ?
  • #14,243
  • Mar 25, 2021 4:05pm Mar 25, 2021 4:05pm
Quoting Lou
I must correct the quote above attributed to Sherlock Holmes. In post 14224. Arthur Conan Doyle never wrote that..so Holmes never said it. What is more to the point , especially on this thread, is the Sherlock Holmes quote: “You see, but you do not observe.” Looks familiar
You are indeed a man after my own heart lol
  • #14,244
  • Mar 25, 2021 4:09pm Mar 25, 2021 4:09pm
Still waiting on Twee from FF as to where to go.

G
  • #14,245
  • Mar 25, 2021 5:22pm Mar 25, 2021 5:22pm
Gbpcad h4
Attached Image (click to enlarge)
Click to Enlarge Name: GBPCAD2503H4.PNG Size: 10 KB
  • #14,246
  • Mar 26, 2021 1:51am Mar 26, 2021 1:51am
Good day All

Just a couple of thoughts from my side induced by the nature of some of the posts lately. Trading is a highly personal and serious business. Ultimately there is no Holy Grail in trading unless you read the early posts from Strat in the old thread. The Holy Grail stares back at you in mirror. This is a particularly important concept that Strat tried to bring across.

To be successful in trading you must own your own mind. I want to repeat that… you must own your own mind.

Strat has given us guidance on many things on these threads and among others has shown the way to PASR and given us the Strat Shadow. However, he has never given us the silver spoon. That you need to find yourself. Strat has given us the framework. How you colour it in is up to you. Whether you study these threads or fill in the gaps of your knowledge from other sources (paid or free) is entirely up to you.

To understand the concept of PASR is quite simple. Price Action at Support or Resistance, right? You buy low and sell high, right? Cool, you have plan and a method, right? So, go trade. Then you see PA, it happens at SR, you enter and then it ends up going the wrong way and you are out with a loss and you wonder why…?

Which brings us to another point, trading PASR may seem simple but it is not that easy to do so at the hard right edge. So, Strat introduced us to the Power of Time Frames and the particularly good advice that we need to learn to see beyond the candles, and to follow in the footsteps of the Big Boys. All good and well, but in the nature of the threads the expectation is that we need to put all of this together and figure out for ourselves how to make it work for ourselves. Hence my statement above: you must own your own mind.

My point of view is that you cannot blindly follow a recipe (paid for or handed down from your grandmother) and expect to be a Master Chef. You must understand the ingredients, what they do and mean, what they taste like and do for the dish. Not even to speak of baking or grilling, what temperature etc.

Not to belabour the point, but to understand PASR you need to understand the ingredients of PASR. Know your candles or pin bars (your choice) but get to know them intimately. To understand the Power of Time Frames you need to understand why Strat instructs us to use the 3-time frame analysis along with the Strat Shadow, or not. To understand how to follow in the Big boys’ footsteps you need to see beyond the candles (or pin bars). Why does PA form where it does, why is SR relevant or not?


Linguist and philosopher Noam Chomsky on seeking what is significant:
"You can't expect somebody to become a biologist by giving them access to the Harvard University biology library and saying, "Just look through it." That will give them nothing. The internet is the same, except magnified enormously.
...

The person who wins the Nobel Prize in biology is not the person who read the most journal articles and took the most notes on them. It's the person who knew what to look for.
Cultivating that capacity to seek what's significant, always willing to question whether you're on the right track, that's what education is going to be about, whether it's using computers and internet, or pencil and paper and books."
Source: The Purpose of Education


My apologies for the long post … and one last comment. In all the time I spent on studying Strat’s threads (more than 3 years now) I have never seen him endorse fly by night methods or persons.

Regards
Pete
  • #14,247
  • Mar 26, 2021 5:09am Mar 26, 2021 5:09am
Who entered the GBPJPY today?

My inability to "see" these trades on the daily chart frustrates the hell out of me. How blindingly obvious is this (highlighted with an arrow), and yet....

Quoting JCMPete
Good day All Just a couple of thoughts from my side induced by the nature of some of the posts lately. Trading is a highly personal and serious business. Ultimately there is no Holy Grail in trading unless you read the early posts from Strat in the old thread. The Holy Grail stares back at you in mirror. This is a particularly important concept that Strat tried to bring across. To be successful in trading you must own your own mind. I want to repeat that… you must own your own mind. Strat has given us guidance on many things on these threads and among others has shown the way to PASR and given us the Strat Shadow. However, he has never given us the silver spoon. That you need to find yourself. Strat has given us the framework. How you colour it in is up to you. Whether you study these threads or fill in the gaps of your knowledge from other sources (paid or free) is entirely up to you. To understand the concept of PASR is quite simple. Price Action at Support or Resistance, right? You buy low and sell high, right? Cool, you have plan and a method, right? So, go trade. Then you see PA, it happens at SR, you enter and then it ends up going the wrong way and you are out with a loss and you wonder why…? Which brings us to another point, trading PASR may seem simple but it is not that easy to do so at the hard right edge. So, Strat introduced us to the Power of Time Frames and the particularly good advice that we need to learn to see beyond the candles, and to follow in the footsteps of the Big Boys. All good and well, but in the nature of the threads the expectation is that we need to put all of this together and figure out for ourselves how to make it work for ourselves. Hence my statement above: you must own your own mind. My point of view is that you cannot blindly follow a recipe (paid for or handed down from your grandmother) and expect to be a Master Chef. You must understand the ingredients, what they do and mean, what they taste like and do for the dish. Not even to speak of baking or grilling, what temperature etc. Not to belabour the point, but to understand PASR you need to understand the ingredients of PASR. Know your candles or pin bars (your choice) but get to know them intimately. To understand the Power of Time Frames you need to understand why Strat instructs us to use the 3-time frame analysis along with the Strat Shadow, or not. To understand how to follow in the Big boys’ footsteps you need to see beyond the candles (or pin bars). Why does PA form where it does, why is SR relevant or not? Linguist and philosopher Noam Chomsky on seeking what is significant: "You can't expect somebody to become a biologist by giving them access to the Harvard University biology library and saying, "Just look through it." That will give them nothing. The internet is the same, except magnified enormously. ... The person who wins the Nobel Prize in biology is not the person who read the most journal articles and took the most notes on them. It's the person who knew what to look for. Cultivating that capacity to seek what's significant, always willing to question whether you're on the right track, that's what education is going to be about, whether it's using computers and internet, or pencil and paper and books." Source: The Purpose of Education My apologies for the long post … and one last comment. In all the time I spent on studying Strat’s threads (more than 3 years now) I have never seen him endorse fly by night methods or persons. Regards Pete
I'm struggling with the psychology of low win rate, cutting the losers and letting the winner run. I'm currently sitting on about 50%, but my losses are hitting my stop, and maybe half my "wins" are a couple of pips from moving my stop to break even plus a bit to protect my capital.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYDaily.png Size: 35 KB
  • #14,248
  • Mar 26, 2021 6:33am Mar 26, 2021 6:33am
Quoting Lou
{quote} Hi... My question was simply what does SNR stand for ?
Ok, i now get it.
SNR, stand for Support N Resistance.

Thank you
  • #14,249
  • Mar 26, 2021 7:46am Mar 26, 2021 7:46am
Quoting JCMPete
Good day All Just a couple of thoughts from my side induced by the nature of some of the posts lately. Trading is a highly personal and serious business. Ultimately there is no Holy Grail in trading unless you read the early posts from Strat in the old thread. The Holy Grail stares back at you in mirror. This is a particularly important concept that Strat tried to bring across. To be successful in trading you must own your own mind. I want to repeat that… you must own your own mind. Strat has given us guidance on many things on these threads and...
Excellent post Pete,

One comment about PASR being PA at SR. Strat early on stated that the most powerful areas are ones that have acted as Support And Resistance not just Support OR Resistance.

Thanks for this very well thought out and written post.

Regards
Terry
  • #14,250
  • Edited 8:07am Mar 26, 2021 7:54am | Edited 8:07am
Quoting Rub
Who entered the GBPJPY today? My inability to "see" these trades on the daily chart frustrates the hell out of me. How blindingly obvious is this (highlighted with an arrow), and yet.... {quote} I'm struggling with the psychology of low win rate, cutting the losers and letting the winner run. I'm currently sitting on about 50%, but my losses are hitting my stop, and maybe half my "wins" are a couple of pips from moving my stop to break even plus a bit to protect my capital. {image}
I didn't take this trade as I was not looking at this pair. However I recently posted on the use of BG's fib use as a good tool to add to our arsenal.
The example I used was that once the fib was started as BG states, we also start a reversal fib from the projected 0 level. If price goes beyond the first fib, we can use the second fib for extension targets.
In the case of the GJ, we can see by dropping to the H4, price had closed below and retraced to the shadow which is also the 78.6 and 23.6 fibs. The shadow then turned red and price continued down. Where did it stop? Right at the 200ema along with the fib extension 161.8 where it formed a doji then two candles followed by a BEEB which failed to move through the 200 and 161.8.
So if one had been following this, a buy stop could have been placed above the high of that BEEB.

Regards
Terry
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpyh4.PNG Size: 42 KB
  • #14,251
  • Mar 26, 2021 8:15am Mar 26, 2021 8:15am
Attached Image (click to enlarge)
Click to Enlarge Name: AUDNZDWeekly.png Size: 38 KB
Attached Image (click to enlarge)
Click to Enlarge Name: AUDNZDDaily.png Size: 36 KB

Just for learning purpose.
What makes an SNR tradeable?
Ofcourse, we have been told that they are not necessarily a single line on the chart but zones on the chart.
If that is true, then the Boss chart has an SNR zone as coloured in yellow.
PASR is PA at Support n Resistance.
PA in this case will be either a shooting star or a BEEB/BEOB.
Since we are not trading the Boss, so we come down to the worker to see what action price is about to take at the SNR.
In this case, it has failed to break the high of Tuesday's candle, which was exactly at the boss SNR.
We have been having dojis after then, with Strat shadow still below price on both tf's.
A sell trade taken here if we get the right PA will be a counter trade, right?
the reason been that it will be against the primary trend of the boss which is still bullish.
or we go down to maybe, the H4, H1 tf, to take the trade?
Allow my rambling thoughts.

Thank you
  • #14,252
  • Edited 8:37am Mar 26, 2021 8:25am | Edited 8:37am
Took a short term swing trade on EC this week closing today at BRN 1.4800.
Entry on move back below shadow and fib 38.
Attached Image (click to enlarge)
Click to Enlarge Name: eurcadh4.PNG Size: 33 KB
  • #14,253
  • Mar 26, 2021 8:59am Mar 26, 2021 8:59am
Quoting 2hpriest
{image}{image}{image} Back to PASR trading. The Boss has broken out of WCC, with the strong BEOB/BEEB. It is testing a strong SNR zone , with the top of the Strat shadow acting as support. We have 2 more days before the week closes and that could change alot of things. The worker following the boss bearish drive, is also inside the SNR zone and the bottom of the Strat shadow as support. It is obvious, atleast when compared to yesterday's candle that todays candle is struggling at this zone so far. Coming down to the H4, the last BUEB/BUOB is the...
Attached Image (click to enlarge)
Click to Enlarge Name: NZDJPYH4.png Size: 22 KB

Still on this trade.
Advise given earlier was to follow the trend, the primary trend which is bearish.
'Coming down to the H4, the last BUEB/BUOB is the only sign that the buyers could make a return. This is where i need your help. Is this BUEB price action at support enough to revise this trade or do i wait for the daily close to get a better picture?'
Looking at the chart i discovered that since the BUEB formed on the H4, the sellers have not been able to take out its low.
And the interesing thing is that all this was happening at the SNR zone captured in blue.
And that zone was from the worker chart, maybe, that was why it was strong.
Taking that buy trade at the close of the BUEB would have been a countertrade, yet it was PASR.
PA at SR.
Waiting to see what PA we will get from the feb61(which aligns with another SNR) if it gets there, or else, i will watch from the sideline.
Thank you
  • #14,254
  • Mar 26, 2021 10:26am Mar 26, 2021 10:26am
Quoting 2hpriest
{quote} {image} Still on this trade. Advise given earlier was to follow the trend, the primary trend which is bearish. 'Coming down to the H4, the last BUEB/BUOB is the only sign that the buyers could make a return. This is where i need your help. Is this BUEB price action at support enough to revise this trade or do i wait for the daily close to get a better picture?' Looking at the chart i discovered that since the BUEB formed on the H4, the sellers have not been able to take out its low. And the interesing thing is that all this was happening...
Really not that surprising that all this is happening at what you are calling the SNR zone, that is the BRN area.

Regards
Terry
  • #14,255
  • Mar 26, 2021 12:39pm Mar 26, 2021 12:39pm
Quoting strat
{quote} Trend trading is the ""glamour"" side of trading and is fantastic when you can find a pair which is trending or about to trend - therein lies the problem - which pair to trade. Even though I have narrowed my pairs down to 11, with my focus on GBP pairs, I still have difficulty finding which pair or currency NY smart money is going to move each day. Just to repeat what the pizza man posted: ""The fib charts I posted are of recent examples of good quality price bar formations at established levels of support and resistance. They had 2 things...
FINALLY someone else posted his winrate. And I'm glad it's you, strat. Cause back at the beginning of my journey you said something like 90% winrate - and that was something I couldn't believe at all. I also have in mind that the RRR was something like 7.6, which is an exponential equity curve skyrocketing to the moon.

Quote
By just using my current stats from the last three weeks I have a win rate of 44.83% on M5.

Pathetic Rank Amateur trading, it should be in excess of 90%

(For anyone interested: https://www.forexfactory.com/thread/...4#post11854984).

I don't know why you said that back then, but it seems your winrate is similar to mine.
Would you mind sharing a bit more of your stats? Ratio of Average looser vs average winner? Just to get a feeling what's possible if someone becomes a jedi master instead of a newbie padawan? Thanks.
Accept the risk!
  • #14,256
  • Mar 26, 2021 2:11pm Mar 26, 2021 2:11pm
Eurcad h1
Attached Image (click to enlarge)
Click to Enlarge Name: EURCAD2603H1.PNG Size: 13 KB
  • #14,257
  • Edited 12:12pm Mar 27, 2021 11:09am | Edited 12:12pm
Quoting Rub
Who entered the GBPJPY today? My inability to "see" these trades on the daily chart frustrates the hell out of me. How blindingly obvious is this (highlighted with an arrow), and yet.... I'm struggling with the psychology of low win rate, cutting the losers and letting the winner run. I'm currently sitting on about 50%, but my losses are hitting my stop, and maybe half my "wins" are a couple of pips from moving my stop to break even plus a bit to protect my capital.
Back in 2006 through 2009, I traded the Weekly for my investments and then as trends dried up, I focused on the Daily and then in recent years I dropped down to M15/M5 for a quick in/out with little draw down and no holding over night. In hindsight I look at GBPJPY and think it's time to get back to LONG TERM, STRESS FREE TRADING.

Rub, if you didn't see the GBJPY Daily trade means you are not identifying PASR

Attached Image (click to enlarge)
Click to Enlarge Name: a.PNG Size: 46 KB
Attached Image (click to enlarge)
Click to Enlarge Name: b.PNG Size: 49 KB
Attached Image (click to enlarge)
Click to Enlarge Name: c.PNG Size: 53 KB
15 YEARS OF PASR ON FOREX FACTORY!
  • #14,258
  • Mar 27, 2021 11:19am Mar 27, 2021 11:19am
Quoting JCMPete
Trading is a highly personal and serious business. Ultimately there is no Holy Grail in trading unless you read the early posts from Strat in the old thread. The Holy Grail stares back at you in mirror. This is a particularly important concept that Strat tried to bring across. To be successful in trading you must own your own mind. I want to repeat that… you must own your own mind. To understand the concept of PASR is quite simple. Price Action at Support or Resistance, right? You buy low and sell high, right? Which brings us to another point,...
As usual, Pete, a very well written common sense and logical post highlighting the very difficult aspect of trading - psychology of thy self.
15 YEARS OF PASR ON FOREX FACTORY!
  • #14,259
  • Mar 27, 2021 11:21am Mar 27, 2021 11:21am
Quoting 2hpriest
{quote} Ok, i now get it. SNR, stand for Support N Resistance. Thank you
Why create a new abbreviation? We already have SR for Support and Resistance - no need to create more confusion on here.
15 YEARS OF PASR ON FOREX FACTORY!
  • #14,260
  • Mar 27, 2021 11:24am Mar 27, 2021 11:24am
Hey Strat.... I am asking a favor. Would you list the Volatile 11 . I accidentally tossed that part of my journal ... on paper... a month or so ago and at the time I had 16 pairs .

Also been thinking about handling the 'little people' by trading one pair intra day on low TF (30mn, 15, 5 )
At the same time trading others on Weekly / Daily.

Thank you kindly.
10 traders viewing now