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Strat's PASR Long Term, Stress Free Trading

  • #16,341
  • Edited 5:50am Mar 6, 2023 4:09am | Edited 5:50am
my trades in london session, 2 small trades but a win is a win, also i was thinking to take Series 34 license, what do you think, i dont know if i will ever use(in case i will pass) but was just a thought. thank you
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  • #16,342
  • Edited 8:15am Mar 6, 2023 7:43am | Edited 8:15am
I will update this post when I come back later, to comment on what I was doing and why I exit where I did.
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Edit:
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1. i tried to short 3 times because I thought I was reading the market correctly but didnt pay attention to the m15 and the bigger trend.
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Once it became apparent to me on m5 that it was just a retracement I reversed but I was a bit too late to close the shorts by a minute or two.
2. I went long right away and then decided to maybe wait abit
3. I bought again after a retracement to the previous high on m1
I could have added again a bit later but didnt
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About the exit I just had to close it because the "big boss" was saying 'Why dont you come with me to the supermarket downstairs?' (In a way that you KNOW it is not a question), so I did exit.
In any case I would have to exit the position shortly after.
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That pattern could have been a short countertrend as well.
  • #16,343
  • Mar 6, 2023 11:23am Mar 6, 2023 11:23am
Scalping DOW during the NYSE session

Time for a coffee break
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Make sure losses are small and profits are bigger!
  • #16,344
  • Mar 6, 2023 11:24am Mar 6, 2023 11:24am
Today I put some goals for the week. Either paper trading or live trades.
1. To use correct size according to SL size
2. Wait for price to retrace to the shadow on m5/m15 to get good entries.
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  • #16,345
  • Mar 6, 2023 11:30am Mar 6, 2023 11:30am
I was thinking as well to go short the third time it bounced off the highs. But I was not so sure so I didnt trade.
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  • #16,346
  • Mar 6, 2023 11:47am Mar 6, 2023 11:47am
Quoting bistolis
I was thinking as well to go short the third time it bounced off the highs. But I was not so sure so I didnt trade. {image}
I have shorted just to prove to myself that I can pull the short trigger in a raising market in areas of R in accordance with the bar pattern on M1. These shorts have been very risky and got covered sharp upon any bars indicating bullish activity. That's is scalping, I prefer position trading as you can see, even while scalping I build a multi entry position.
Make sure losses are small and profits are bigger!
  • #16,347
  • Mar 6, 2023 1:26pm Mar 6, 2023 1:26pm
M2 EURO

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Paraphrasing the Chinese guy I met on the plane that one time:

Climbing Up Strat Shadow - more buys than sells

Falling Down Strat Shadow - more sells than buys

Simple!
15 YEARS OF PASR ON FOREX FACTORY!
  • #16,348
  • Mar 6, 2023 1:32pm Mar 6, 2023 1:32pm
Quoting Mdjq8792
{quote} Thank you! The question I now have after the refresher on POWER OF TIME FRAMES & TIME FRAMES in relation to trading the M1 is if the Big Boss still gives the direction? I'm asking because in TIME FRAMES you say when trading the WORKER one can basically disregard the BIG BOSS and focus on the BOSS since it's controlling the WORKER. I'm assuming these "relations" transfer down the lower the time frame is one is attempting to trade. Am I correct then in stating that idealy the Daily & Hourly should be in harmony and I then look to take trades...
I'm assuming these "relations" transfer down the lower the time frame is one is attempting to trade.

Yes, each and every time

Am I correct then in stating that ideally the Daily & Hourly should be in harmony and I then look to take trades on the M1 in the same direction as the Daily & Hourly. My Hourly SR levels would be my major SR for trading the M1.

No, D1 and H1 are too far away from M1 so use M15 and H1

What did Liverpool do to Manchester United?

Great game. Man U's players collapsed and lost the plot led by Captain Idiot Fernandes but Liverpool were the best they have been for a long time.
15 YEARS OF PASR ON FOREX FACTORY!
  • #16,349
  • Mar 6, 2023 1:38pm Mar 6, 2023 1:38pm
Quoting DexterzxD
my trades in London session, 2 small trades but a win is a win, also i was thinking to take Series 34 license, what do you think, i dont know if i will ever use(in case i will pass) but was just a thought. thank you {image} {image}
my trades in London session, 2 small trades but a win is a win

They all add up and just keep getting bigger

also i was thinking to take Series 34 license, what do you think, i dont know if i will ever use

So what is the point if you are not going to use it? It will just put you under needless pressure to perform. Which is more important - making consistent profits or bragging that you have a Series 34 Licence?
15 YEARS OF PASR ON FOREX FACTORY!
  • #16,350
  • Mar 6, 2023 1:43pm Mar 6, 2023 1:43pm
Quoting bistolis
I will update this post when I come back later, to comment on what I was doing and why I exit where I did.{image} Edit: {image} 1. i tried to short 3 times because I thought I was reading the market correctly but didnt pay attention to the m15 and the bigger trend. {image} Once it became apparent to me on m5 that it was just a retracement I reversed but I was a bit too late to close the shorts by a minute or two. 2. I went long right away and then decided to maybe wait bit 3. I bought again after a retracement to the previous high on m1 I could...
i tried to short 3 times because I thought I was reading the market correctly but didnt pay attention to the m15 and the bigger trend.

I have done that on occassions but you were slow to exit when PRICE went against you.

About the exit I just had to close it because the "big boss" was saying 'Why dont you come with me to the supermarket downstairs?'

Never go against the Big Boss!
15 YEARS OF PASR ON FOREX FACTORY!
  • #16,351
  • Mar 6, 2023 1:47pm Mar 6, 2023 1:47pm
Quoting bistolis
Today I put some goals for the week. Either paper trading or live trades. 1. To use correct size according to SL size 2. Wait for price to retrace to the shadow on m5/m15 to get good entries. {image}
Either paper trading or live trades.

Suggest real, live trading at the hard right edge to see if you can control your Little People.

To use correct size according to SL

But you should have been doing this from day 1 which is according to the PASR PATH

Wait for price to retrace to the shadow on m5/m15 to get good entries.

Again, this is all explained in the PASR PATH

Seems like you maybe lost some discipline bistolis
15 YEARS OF PASR ON FOREX FACTORY!
  • #16,352
  • Mar 6, 2023 2:51pm Mar 6, 2023 2:51pm
Quoting Strat
{quote} Either paper trading or live trades. Suggest real, live trading at the hard right edge to see if you can control your Little People. To use correct size according to SL But you should have been doing this from day 1 which is according to the PASR PATH Wait for price to retrace to the shadow on m5/m15 to get good entries. Again, this is all explained in the PASR PATH Seems like you maybe lost some discipline bistolis
I have indeed. Discipline and focus and confidence
I was using mostly the same size all along.
  • #16,353
  • Mar 7, 2023 3:44am Mar 7, 2023 3:44am
In "The Path" Strat writes the following about CONFIRMED SWINGS:

"I see three possibilities for confirmation here;

 

  1. Marked candle has a higher high and has closed lower than the previous bullish bar
  2. Price breaks below the marked bar's low or,
  3. Price breaks below the last bullish bar's low since the swing high."

I'm not sure I understand what he means by "marked candle". Is that referred to the example at the bottom of that page?
Does the marked candle's high or low has to be broken by a candle close or is a wick enoguh? I assume a candles close is needed since Strat often mentions how he's much more interested in closes than wicks and I have also learned it that way when studying market structure and break of structure.

Below is a simple drawing of my understanding of a break of structure and I was wondering if that's in accordance with Strat's confirmed swings rules.


Happy trading and green pips to all

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  • #16,354
  • Mar 7, 2023 3:59am Mar 7, 2023 3:59am
Quoting Mdjq8792
In "The Path" Strat writes the following about CONFIRMED SWINGS: "I see three possibilities for confirmation here; Marked candle has a higher high and has closed lower than the previous bullish bar Price breaks below the marked bar's low or, Price breaks below the last bullish bar's low since the swing high." I'm not sure I understand what he means by "marked candle". Is that referred to the example at the bottom of that page? Does the marked candle's high or low has to be broken by a candle close or is a wick enoguh? I assume a candles close is...
This matters mostly as how you understand swings. I would look at higher frames for more meaningful swings.
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  • #16,355
  • Mar 7, 2023 5:12am Mar 7, 2023 5:12am
Quoting bistolis
{quote} This matters mostly as how you understand swings. I would look at higher frames for more meaningful swings. {image}
I agree on finding more meaningful swings on higher time frames.
I guess I'm trying to understand how Swings are incorporated/used in PASR.
  • #16,356
  • Mar 7, 2023 5:19am Mar 7, 2023 5:19am
Quoting Strat
{quote} Survive with 66 pips. Like bistolis posted, I have no clue as to why you bought where you did. Also, you must have balls and nerves of steel or are just "carefree" (maybe careless?) to sit through all that drawdown. Reinforcing bistolis again, it worked for you this time but may wipe you out at other times. Are those blue rectangles from a "support and resistance" indicator? Be honest!
The blue rectangles I drew it manually as the demand area since in higher timeframe(M30) is strong uptrend with RBR pattern and also lt left the price gap to be filled and these things are in harmony with strat MA and shadow so I decided to get in position. I got lucky at that time as bistolis mentioned I should have trade after the news was settled.
  • #16,357
  • Mar 7, 2023 12:25pm Mar 7, 2023 12:25pm
M2 EURO

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This was H1 when I got to my charts this morning - triple rejection off Weekly high so no guessing where PRICE is going!

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Even though everything in my being told me a sell off is coming, I just did not have the balls to enter short ahead of Powell's speech. oh well, I've never been perfect! Although volume has dried up, PRICE may still just drift down to the Weekly low.
15 YEARS OF PASR ON FOREX FACTORY!
  • #16,358
  • Mar 7, 2023 12:30pm Mar 7, 2023 12:30pm
Quoting Yule
{quote} The blue rectangles I drew it manually as the demand area since in higher timeframe(M30) is strong uptrend with RBR pattern and also lt left the price gap to be filled and these things are in harmony with strat MA and shadow so I decided to get in position. I got lucky at that time as bistolis mentioned I should have trade after the news was settled.
The blue rectangles I drew it manually

Good! If you understand PASR you don't need those support and resistance indicators which will "play" with your Little People when they indicate false and meaningless levels.
15 YEARS OF PASR ON FOREX FACTORY!
  • #16,359
  • Mar 7, 2023 12:38pm Mar 7, 2023 12:38pm
Quoting Mdjq8792
In "The Path" Strat writes the following about CONFIRMED SWINGS: "I see three possibilities for confirmation here; Marked candle has a higher high and has closed lower than the previous bullish bar Price breaks below the marked bar's low or, Price breaks below the last bullish bar's low since the swing high." I'm not sure I understand what he means by "marked candle". Is that referred to the example at the bottom of that page? Does the marked candle's high or low has to be broken by a candle close or is a wick enough? I assume a candles close is...
Does the marked candle's high or low have to be broken by a candle close or is a wick enough?

Oh dear! It seems you have not studied and understood my definition of Swing Highs and Lows so put your "D" hat on and go and stand in the corner facing the wall until you have done so!

I assume a candles close is needed since Strat often mentions how he's much more interested in closes than wicks

In PASR, the most important PRICE is the CLOSE. PASR was developed on PRICE CLOSES.
15 YEARS OF PASR ON FOREX FACTORY!
  • #16,360
  • Mar 7, 2023 12:42pm Mar 7, 2023 12:42pm
Quoting Mdjq8792
In "The Path" Strat writes the following about CONFIRMED SWINGS: "I see three possibilities for confirmation here; Marked candle has a higher high and has closed lower than the previous bullish bar Price breaks below the marked bar's low or, Price breaks below the last bullish bar's low since the swing high." I'm not sure I understand what he means by "marked candle". Is that referred to the example at the bottom of that page? Does the marked candle's high or low has to be broken by a candle close or is a wick enoguh? I assume a candles close is...
Below is a simple drawing of my understanding of a break of structure and I was wondering if that's in accordance with Strat's confirmed swings rules.

Wonder no more! That is correct PROVIDING the break is in accordance with my definition of Swing Highs and Lows.
15 YEARS OF PASR ON FOREX FACTORY!
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