Disliked{quote} Hi Strat So we should close the trade at hammer(blue box) then open other short trade at doji(blue arrow)? Like what you did today with the EURO Futures. Thanks {image}Ignored
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Strat's PASR Long Term, Stress Free Trading
- #15,361
- Jul 7, 2022 1:22pm Jul 7, 2022 1:22pm
- Joined Feb 2009 | Status: 15 YEAR PASR THREAD Senior Member | 12,379 Posts
15 YEARS OF PASR ON FOREX FACTORY!
You are exiting BEFORE the candle CLOSES - Also, watch PA relative to your entry candle
You are trading M1 - NOT M15!!!!!!!!!!!!!!
If you are going to be so aggressive (stupid) and counter trend trade then you have to get in EARLY - your entries are too late - enter on PASR - see blue boxes. You also ignored the area identified by my thick black line {image} 5/10 - would have been 7/10 if you had not taken the counter trend trades
When it comes to black line, I see I was unnecessarily banging with my head against it.
BTW I'm still digesting your detailed post #15,318. There is so much information there that I keep reading and re-reading. Will come back with questions. Thanks!
Trade what you see, not what you expect. BE LIKE WATER MY FRIEND.
- #15,365
- Jul 7, 2022 6:54pm Jul 7, 2022 6:54pm
EURAUD M5 Hi everyone, at "0" i put one position after candle closed, "1" i closed my position beacuse of these doji's and BE, after candle "2" closed i put two positions with a tight stop ( high of previous doji). First position out at "3" for 2RR and last position "4" out at bond hammer for 0.8RR because i'm tired and i have to sleep.Any thoughts? {image}
- #15,366
- Jul 7, 2022 9:44pm Jul 7, 2022 9:44pm
{quote} Trailing SL too aggresively is a real problem for me. Today I got myself out of a good trade too early. MUST BE FEAR ISSUE. {image} {quote} Yes, I know, so you take only SR levels from higher TFs like M15/H1. You do not watch PA on those TFs and it does not influence trades taken on M1/M5? {quote} Understood Strat, I will come back with more no-brainers - good PASR setups. 5/10 is poor result, I will try my best next time. When it comes to black line, I see I was unnecessarily banging with my head against it. BTW I'm still digesting your...
“Trailing SL too aggresively is a real problem for me. Today I got myself out of a good trade too early. MUST BE FEAR ISSUE.”
Hi Baniu
If you fear of losing profit then open trade using 2 positions strategy. Close first position when price reach green box move stop to break-even on second position then wait for price action, when price close below the green box move stop to top of small exhaustion candle(blue arrow).
Hope this helps
{quote} “Trailing SL too aggresively is a real problem for me. Today I got myself out of a good trade too early. MUST BE FEAR ISSUE.” Hi Baniu If you fear of losing profit then open trade using 2 positions strategy. Close first position when price reach green box move stop to break-even on second position then wait for price action, when price close below the green box move stop to top of small exhaustion candle(blue arrow). Hope this helps {image}
your comments are really helpful.This is smth I will consider and test it as a potential scenario in my trading - what would happen with my PnL if I closed 1/2 trailing very aggresively and leave 1/2 to close on reverse PASR.
BUT I WOULD PREFER to be patient, wait for a candle close and learn what each and every candle after my entry is telling me. I would like to SEE candles and beyond candles and act on that rather than on my emotions.
I act like I act because I do not SEE yet. I believe that I will start to SEE and then I will trust PASR fully, I will find best entries and THEN I will not have to be in FEAR that market will reverse on me as soon as I enter.
When I analyze Strat entries, other guys good entries, my good entries, I see most of the time there is no such issue that after entry market goes sideways, makes gimmicks, it just goes beautifully with momentum in the direction, which PASR indicates. My PATH is to see these very good PASR entries, exit on reverse PASR and ditch everything else. I WILL GET THERE!. Amen.
Trade what you see, not what you expect. BE LIKE WATER MY FRIEND.
- #15,369
- Jul 8, 2022 7:08am Jul 8, 2022 7:08am
{quote} Thank you Swiftman
Hi Baniu
Strat taught us the two positions strategy on the expired private website and Roger our Trend Specialist made into even simpler version. Close your first position at RR 1:1 then move second position to break-even. Second position become a free trade.
Thanks
- #15,371
- Jul 8, 2022 10:46am Jul 8, 2022 10:46am
- Joined Feb 2009 | Status: 15 YEAR PASR THREAD Senior Member | 12,379 Posts
M1 EURO
M1 DOW
Looks like we are done for the day
M1 DOW
Looks like we are done for the day
15 YEARS OF PASR ON FOREX FACTORY!
- #15,373
- Jul 10, 2022 11:07am Jul 10, 2022 11:07am
Hi Strat,
I have been studying your trades and have come across interesting chart from 16.06.2022 EURO trading session.
I have 5 questions.
1. There is no TP of short from 1.05170. I guess that you took profit above doji marked by me. Am I right?
2. Does some indicator plot red lines, which are on the chart? Sometimes they go from candle high/low, sometimes form the candle close, what is logic here?
I assume it helps to identify S/R and it is not good to trade when there is no space between entry and these lines. Long from 1.05485 was from the BUOB, which was sitting at 3 of those lines and there was a lot space in the north direction.
3. When after entry quite big candle forms (long from 1.05315) and the next candle reverses even stronger, do you have your SL usually at 50% of the candle, which went in your direction, the same way as you do with entry candles?
4. Are the blue lines SR lines plotted by you manually?
5. For short from 1.05170 SL was just above shooting star? I think this was only logical place to defend. Does 50% of the candle SL rule pertain to bigger thrust candles and for the candles like this shooting you place SL above the candle?
I have been studying your trades and have come across interesting chart from 16.06.2022 EURO trading session.
I have 5 questions.
1. There is no TP of short from 1.05170. I guess that you took profit above doji marked by me. Am I right?
2. Does some indicator plot red lines, which are on the chart? Sometimes they go from candle high/low, sometimes form the candle close, what is logic here?
I assume it helps to identify S/R and it is not good to trade when there is no space between entry and these lines. Long from 1.05485 was from the BUOB, which was sitting at 3 of those lines and there was a lot space in the north direction.
3. When after entry quite big candle forms (long from 1.05315) and the next candle reverses even stronger, do you have your SL usually at 50% of the candle, which went in your direction, the same way as you do with entry candles?
4. Are the blue lines SR lines plotted by you manually?
5. For short from 1.05170 SL was just above shooting star? I think this was only logical place to defend. Does 50% of the candle SL rule pertain to bigger thrust candles and for the candles like this shooting you place SL above the candle?
Trade what you see, not what you expect. BE LIKE WATER MY FRIEND.
- #15,374
- Jul 10, 2022 12:46pm Jul 10, 2022 12:46pm
- Joined Feb 2009 | Status: 15 YEAR PASR THREAD Senior Member | 12,379 Posts
15 YEARS OF PASR ON FOREX FACTORY!
- #15,375
- Jul 10, 2022 12:59pm Jul 10, 2022 12:59pm
- Joined Feb 2009 | Status: 15 YEAR PASR THREAD Senior Member | 12,379 Posts
15 YEARS OF PASR ON FOREX FACTORY!
- #15,377
- Jul 10, 2022 6:19pm Jul 10, 2022 6:19pm
- Joined Feb 2009 | Status: 15 YEAR PASR THREAD Senior Member | 12,379 Posts
{quote} Thank you. I was wondering if those line were plotted by indicator, because I do not even know how to put horizontal (in MT5), so that it goes only from swing high/low to to the right and not through the whole screen. I assume that in this case red lines were minor SR and blue ones were major SR levels.
I assume that in this case red lines were minor SR and blue ones were major SR levels.
No, I just change colours when I have too many lines of the same colour
15 YEARS OF PASR ON FOREX FACTORY!
- #15,379
- Jul 11, 2022 11:21am Jul 11, 2022 11:21am
EURO M1
This is example of how not to trade.
Everything is wrong here, so I think it is valuable example in terms of what not to do.
Earned 1 virtual tick, lost 114, I would not give myself even 10 USD to trade at this stage.
I give myself two months more to wrap my head around it. If I do not see progess, I will give up once again.
This is example of how not to trade.
Everything is wrong here, so I think it is valuable example in terms of what not to do.
Earned 1 virtual tick, lost 114, I would not give myself even 10 USD to trade at this stage.
I give myself two months more to wrap my head around it. If I do not see progess, I will give up once again.
Trade what you see, not what you expect. BE LIKE WATER MY FRIEND.
- #15,380
- Jul 11, 2022 1:21pm Jul 11, 2022 1:21pm
- Joined Feb 2009 | Status: 15 YEAR PASR THREAD Senior Member | 12,379 Posts
M1 EURO
Difficult PA again today
Difficult PA again today
15 YEARS OF PASR ON FOREX FACTORY!