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Strat's PASR Long Term, Stress Free Trading

  • #16,461
  • Mar 23, 2023 11:45am Mar 23, 2023 11:45am
M1 EURO

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PA and PRICE structure was weird today flipping from orderly to irregular as it bounced around the Open as shown on the M15 Swings.

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M15 DOW

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PRICE produced a Hammer at 13:15 as it tested and created a third low - a no brainer to enter 5 points above the Hammer high! Closed out and re-entered and closed out again with Fibonacci. Entered short 5 points below the candle creating the Swing High and closed out at Fibonacci and for my lunch before I watch England v Italy although PRICE is on it's way down to last week/previous week's low.

This combination of trading M1 EURO and M15 DOW is ideal for me as the M1 prevents boredom setting in trading M15.
15 YEARS OF PASR ON FOREX FACTORY!
  • #16,462
  • Mar 24, 2023 1:17am Mar 24, 2023 1:17am
M1
EURUSD

After a moderately successful start to the trading day (0.5% gain on my capital) my last trade was intended to be a short position but I accidentally pressed the buy button and what would've been a great trade (approx. 1:10), instead becomes a lesson.

Happy trading and green pips to all
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  • #16,463
  • Mar 24, 2023 1:22am Mar 24, 2023 1:22am
Quoting Mdjq8792
M1 EURUSD After a moderately successful start to the trading day (0.5% gain on my capital) my last trade was intended to be a short position but I accidentally pressed the buy button and what would've been a great trade (approx. 1:10), instead becomes a lesson. Happy trading and green pips to all {image}
Reverse your position right away. Although if you made such a mistake maybe your focus is not at the charts, so might be good to take a break. But this is just too good to pass. Price pushing down and then breaking and closing below previous low
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it would have looked like that at the time
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  • #16,464
  • Mar 24, 2023 1:29am Mar 24, 2023 1:29am
Quoting bistolis
{quote} Reverse your position right away. Although if you made such a mistake maybe your focus is not at the charts, so might be good to take a break. But this is just too good to pass. Price pushing down and then breaking and closing below previous low{image}
It went so fast I was caught with my pants down. Played the zig zag game good enough while waiting for price to decide what to do and when it happened I didn't wanna chase price. Oh, well like I said. A lesson.
  • #16,465
  • Mar 24, 2023 2:00am Mar 24, 2023 2:00am
Quoting Mdjq8792
{quote} It went so fast I was caught with my pants down. Played the zig zag game good enough while waiting for price to decide what to do and when it happened I didn't wanna chase price. Oh, well like I said. A lesson.
You need to expect some kind of move at London open. you were trading the asia session where volumes are not big enough. The real moves happen during the euro session and then NY session
  • #16,466
  • Mar 24, 2023 3:18am Mar 24, 2023 3:18am
Quoting bistolis
{quote} You need to expect some kind of move at London open. you were trading the asia session where volumes are not big enough. The real moves happen during the euro session and then NY session
I'm not arguing with your perpective, I did expect a move but wasn't fast enough to react. And I don't like to chase price because London open often has false breakouts.

I took a break and will get back in front of the charts now. I choose to see it as a lesson from which I will learn and focus on the fact I recognized the opportunity which I will capitalize on the next time.
  • #16,467
  • Mar 24, 2023 3:46am Mar 24, 2023 3:46am
Quoting Mdjq8792
{quote} I'm not arguing with your perpective, I did expect a move but wasn't fast enough to react. And I don't like to chase price because London open often has false breakouts. I took a break and will get back in front of the charts now. I choose to see it as a lesson from which I will learn and focus on the fact I recognized the opportunity which I will capitalize on the next time.
You are doing great. Shit happens every day
  • #16,468
  • Edited 6:15am Mar 24, 2023 6:03am | Edited 6:15am
Quoting Mdjq8792
M1 EURUSD After a moderately successful start to the trading day (0.5% gain on my capital) my last trade was intended to be a short position but I accidentally pressed the buy button and what would've been a great trade (approx. 1:10), instead becomes a lesson. Happy trading and green pips to all {image}
I wouldn't have taken this trade, I don't like how the structure looks when it was formed, just not for me yet, maybe i need more experience and confidence.
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  • #16,469
  • Mar 24, 2023 6:55am Mar 24, 2023 6:55am
Quoting DexterzxD
{quote} I wouldn't have taken this trade, I don't like how the structure looks when it was formed, just not for me yet, maybe i need more experience and confidence. {image}
London opened with that wick and the rest confirms to me the direction (the move down started higher up a few minutes earlier). After that price broke the overnight support and asia range
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and if you look at overnight price range it is tiny. price HAS to move at some point otherwise no one makes any money.
the overall trend is pointing down as well (if you scroll through the timeframes)
  • #16,470
  • Mar 24, 2023 11:12am Mar 24, 2023 11:12am
Quoting DexterzxD
{quote} I wouldn't have taken this trade, I don't like how the structure looks when it was formed, just not for me yet, maybe i need more experience and confidence. {image}
I don't know how your chart/s looks like, meaning if you only have the M1 chart and maybe zoomed in than one can forget the bigger picture (M5, M15 & H1) which is always important to consider when trading the M1.
  • #16,471
  • Mar 25, 2023 7:15am Mar 25, 2023 7:15am
Quoting Mdjq8792
M1 EURUSD After a moderately successful start to the trading day (0.5% gain on my capital) my last trade was intended to be a short position but I accidentally pressed the buy button and what would've been a great trade (approx. 1:10), instead becomes a lesson. Happy trading and green pips to all {image}
We have all done that. This is usually a sign of nervousness in front of your charts. You have to be calm when trading so that these things are avoided. If this continues to happen, count 10 seconds between signal recognition and pulling the trigger.
15 YEARS OF PASR ON FOREX FACTORY!
  • #16,472
  • Mar 25, 2023 7:18am Mar 25, 2023 7:18am
Quoting Mdjq8792
{quote} It went so fast I was caught with my pants down. Played the zig zag game good enough while waiting for price to decide what to do and when it happened I didn't wanna chase price. Oh, well like I said. A lesson.
when it happened I didn't want to chase price

Good, that is a fool's game
15 YEARS OF PASR ON FOREX FACTORY!
  • #16,473
  • Mar 25, 2023 7:21am Mar 25, 2023 7:21am
Quoting bistolis
{quote} Reverse your position right away. Although if you made such a mistake maybe your focus is not at the charts, so might be good to take a break. But this is just too good to pass. Price pushing down and then breaking and closing below previous low{image} {image} it would have looked like that at the time {image}
Reverse your position right away.

This depends on the market condition. I have done this a few times and PRICE continued in my chosen direction. In a trend or strong swing it is OK but not recommended for anything else.
15 YEARS OF PASR ON FOREX FACTORY!
  • #16,474
  • Mar 25, 2023 7:23am Mar 25, 2023 7:23am
Quoting bistolis
{quote} You need to expect some kind of move at London open. you were trading the asia session where volumes are not big enough. The real moves happen during the euro session and then NY session
You need to expect some kind of move at London open. you were trading the asia session where volumes are not big enough. The real moves happen during the euro session and then NY session

He has already been told this. Maybe he is LIVING to TRADE instead of TRADING to LIVE!
15 YEARS OF PASR ON FOREX FACTORY!
  • #16,475
  • Mar 25, 2023 7:27am Mar 25, 2023 7:27am
Quoting Mdjq8792
{quote} I'm not arguing with your perpective, I did expect a move but wasn't fast enough to react. And I don't like to chase price because London open often has false breakouts. I took a break and will get back in front of the charts now. I choose to see it as a lesson from which I will learn and focus on the fact I recognized the opportunity which I will capitalize on the next time.
I did expect a move but wasn't fast enough to react.

10 seconds wait is fast enough

I don't like to chase price because London open often has false breakouts.

So do all Market Opens especially NY and also breakouts from consolidation. It is best to wait for a re-test of the breakout.
15 YEARS OF PASR ON FOREX FACTORY!
  • #16,476
  • Mar 25, 2023 7:34am Mar 25, 2023 7:34am
Quoting bistolis
{quote} London opened with that wick and the rest confirms to me the direction (the move down started higher up a few minutes earlier). After that price broke the overnight support and Asia range {image} and if you look at overnight price range it is tiny. price HAS to move at some point otherwise no one makes any money. the overall trend is pointing down as well (if you scroll through the time frames)
London opened with that wick and the rest confirms to me the direction (the move down started higher up a few minutes earlier). After that price broke the overnight support and Asia range

That is called seeing beyond the candles - good job, bistolis.

PRICE HAS to move at some point otherwise no one makes any money.

A rave from the grave, bistolis! This happens so many times on M1 EURO and just when I am about to give up on it, PRICE takes off like a rocket so again, the message is patience to wait for the right conditions/set up.
15 YEARS OF PASR ON FOREX FACTORY!
  • #16,477
  • Mar 25, 2023 7:38am Mar 25, 2023 7:38am
Quoting Mdjq8792
{quote} I don't know how your chart/s looks like, meaning if you only have the M1 chart and maybe zoomed in than one can forget the bigger picture (M5, M15 & H1) which is always important to consider when trading the M1.
if you only have the M1 chart and maybe zoomed in than one can forget the bigger picture (M5, M15 & H1) which is always important to consider when trading the M1.

Seems like conflict in that statement - must be the language thing. Whether zoomed in or out, the higher time frames are ALWAYS important
15 YEARS OF PASR ON FOREX FACTORY!
  • #16,478
  • Mar 25, 2023 7:58am Mar 25, 2023 7:58am
M1 EURO

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Our friends with the sail boat made a surprise visit so I had to curtail trading.

I got caught out a couple of times - see blue rectangles, although had I had a greater tolerance for draw down, I could have sat through it until profit but that's not my style.
15 YEARS OF PASR ON FOREX FACTORY!
  • #16,479
  • Edited 8:15am Mar 26, 2023 7:06am | Edited 8:15am
H1 EURO GANN

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H1 DOW GANN

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Both the Euro and Dow are in an UP Swing heading into the new week
15 YEARS OF PASR ON FOREX FACTORY!
  • #16,480
  • Mar 27, 2023 11:12am Mar 27, 2023 11:12am
M1 EURO

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No news, no volume, no volatility - spent more time reading the news and football
15 YEARS OF PASR ON FOREX FACTORY!
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