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Strat's PASR Long Term, Stress Free Trading

  • #17,381
  • Nov 2, 2023 1:44am Nov 2, 2023 1:44am
Quoting bistolis
{quote} I dont know about any regulations. I havent spent 30 days without trading
Research has shown that BAFIN has set this rule up for IG, maybe my broker has followed - if they have to or not is another topic. Nonetheless it speaks a bit for the broker, a bucket shop would not care. Worst case would be a refund or I might just put in a microlot order and delete it again.
Fix up, trade sharp ...
  • #17,382
  • Edited 5:24am Nov 2, 2023 4:29am | Edited 5:24am
Because I had a little time this morning I was able to solve the issue by putting on a tiny M5 trade, risking 0.25 % when the opportunity came. I was watching GBPNZD when it was constantly pushed down below the Strat Shadow sitting on support and entered on a close below support. TP on a wobble area at next support. Maybe too early, but it was important to shut up the little people on my first live trade after a long time and profit around +2 R.


One question to add: After my trade, there was a shooting star rejecting support (second chart) that as a trigger would have resulted in a s/o according to M5 PASR Trend Trading Strategy. Is this just a normal setup failing which can and will happen from time to time or did I make a mistake identifying this as a shooting star and potential trade? If I remember correctly, the location is also very important. Was it the opposite of a hanging man in this case?
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Fix up, trade sharp ...
  • #17,383
  • Nov 2, 2023 10:26am Nov 2, 2023 10:26am
Quoting Hickson
Because I had a little time this morning I was able to solve the issue by putting on a tiny M5 trade, risking 0.25 % when the opportunity came. I was watching GBPNZD when it was constantly pushed down below the Strat Shadow sitting on support and entered on a close below support. TP on a wobble area at next support. Maybe too early, but it was important to shut up the little people on my first live trade after a long time and profit around +2 R. One question to add: After my trade, there was a shooting star rejecting support (second chart) that...
For me this shows buyers coming in and I would be happy to exit abit lower but not higher than that point
The last 3 candles at the low point "seal the deal" . It is a typical take profit structure
  • #17,384
  • Nov 2, 2023 12:36pm Nov 2, 2023 12:36pm
M2 S&P 500 ES 12-23

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15 YEARS OF PASR ON FOREX FACTORY!
  • #17,385
  • Nov 2, 2023 12:48pm Nov 2, 2023 12:48pm
Quoting bistolis
{quote} For me this shows buyers coming in and I would be happy to exit abit lower but not higher than that point The last 3 candles at the low point "seal the deal" . It is a typical take profit structure
Spot on, bistolis!

One question to add: After my trade, there was a shooting star rejecting support (second chart) that as a trigger would have resulted in a s/o according to M5 PASR Trend Trading Strategy.

First, that is not a Shooting Star. A Shooting Star and Hammer have to be at the top/bottom of a swing/trend with no candles to the left of them.

Second, as bistolis, correctly points out, this is a RED FLAG for the trader selling short. This candle is the result of buyers coming in at that level and pushing PRICE up until the sellers sold it back down again. The trader should be alert that buyers are coming in and looking to accumulate positions at those levels.
15 YEARS OF PASR ON FOREX FACTORY!
  • #17,386
  • Nov 2, 2023 2:19pm Nov 2, 2023 2:19pm
Quoting Strat
{quote} Spot on, bistolis! One question to add: After my trade, there was a shooting star rejecting support (second chart) that as a trigger would have resulted in a s/o according to M5 PASR Trend Trading Strategy. First, that is not a Shooting Star. A Shooting Star and Hammer have to be at the top/bottom of a swing/trend with no candles to the left of them. Second, as bistolis, correctly points out, this is a RED FLAG for the trader selling short. This candle is the result of buyers coming in at that level and pushing PRICE up until the sellers...
Thank you, that helps me to see the whole picture better. So in this location, the shooting star shaped candle was a warning, much like a hammer shaped candle at the end of an uptrend.
Fix up, trade sharp ...
  • #17,387
  • Nov 2, 2023 3:31pm Nov 2, 2023 3:31pm
Quoting Hickson
{quote} Thank you, that helps me to see the whole picture better. So in this location, the shooting star shaped candle was a warning, much like a hammer shaped candle at the end of an uptrend.
Remember this candle and better yet, make a copy of it because it is a very important PASR candle when it appears elsewhere which I have explained to others a few times already this year. Don't worry about it yet as I will explain it again all in good time.
15 YEARS OF PASR ON FOREX FACTORY!
  • #17,388
  • Nov 3, 2023 2:29am Nov 3, 2023 2:29am
Quoting Strat
{quote} Remember this candle and better yet, make a copy of it because it is a very important PASR candle when it appears elsewhere which I have explained to others a few times already this year. Don't worry about it yet as I will explain it again all in good time.
Thank you, I took notes with a screenshot for my folder what to avoid / be careful with.
Fix up, trade sharp ...
  • #17,389
  • Nov 3, 2023 11:05am Nov 3, 2023 11:05am
M5 S&P 500 ES 12-23

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Erratic PA with long wicks and tails today

Entries and exits on M1 & M5
15 YEARS OF PASR ON FOREX FACTORY!
  • #17,390
  • Nov 6, 2023 8:34am Nov 6, 2023 8:34am
The entry is seconds before NY open
and a couple of trades before the open
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  • #17,391
  • Nov 6, 2023 1:39pm Nov 6, 2023 1:39pm
M1 S&P 500 ES 12-23

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15 YEARS OF PASR ON FOREX FACTORY!
  • #17,392
  • Nov 7, 2023 4:25am Nov 7, 2023 4:25am
Quoting bistolis
The entry is seconds before NY open and a couple of trades before the open{image}
Very nice timing with PASR, bistolis. Seems like you are using MT5 here, is this your prop trading account with a company starting with the number 5? I am asking because I went down that path some time ago. Hope it is working out for you after years of studying PASR, because after having your skill carved out, you need to get your hands on reasonable capital to trade for a living.
Fix up, trade sharp ...
  • #17,393
  • Nov 7, 2023 4:52am Nov 7, 2023 4:52am
Quoting Hickson
{quote} Very nice timing with PASR, bistolis. Seems like you are using MT5 here, is this your prop trading account with a company starting with the number 5? I am asking because I went down that path some time ago. Hope it is working out for you after years of studying PASR, because after having your skill carved out, you need to get your hands on reasonable capital to trade for a living.
It is a prop account yes.Trying different sorts of things lately. What do you mean number 5? do you mean the name of the company ? it is not the 5ers or whatever it is called no
  • #17,394
  • Nov 7, 2023 4:58am Nov 7, 2023 4:58am
Quoting bistolis
{quote} It is a prop account yes.Trying different sorts of things lately. What do you mean number 5? do you mean the name of the company ? it is not the 5ers or whatever it is called no
Yes, I was not using the exact name. It might be against FF rules. I was always wondering if MT5 CFDs on Indices could be a solution if your day job is taking you away from the best FX times. Seems like you are doing well on them, which is good.
Fix up, trade sharp ...
  • #17,395
  • Edited 5:59am Nov 7, 2023 5:45am | Edited 5:59am
Quoting Hickson
{quote} Yes, I was not using the exact name. It might be against FF rules. I was always wondering if MT5 CFDs on Indices could be a solution if your day job is taking you away from the best FX times. Seems like you are doing well on them, which is good.
I am not consistent yet to be honest. I am showing my best setups. There are still mistakes which i am improving to reduce ( slow progress). There are small losses here and there which drag my profitability down. And some terrible sessions from time to time. Overall though i am not negative but not a super star trader
I had a few small wins and losses this morning and the trade i am showing made up for the losses and then some.
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So far what has worked best for me is right at the NY session open. It provides great opportunity for me and if i am lucky some VERY profitable runs
PS: and of course focusing on a SINGLE instrument makes all the difference since I can be in tune with it on a daily basis. I know the SR areas, I know WHERE to expect some trades to start developing and the strat shadow takes care of the rest. The absolute basis though are the candles themselves ( the speed at which they form , where they form ) starting with the higher frames all the way to M1

What doesnt show up on the screenshots though you can see below
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All the way to the weekly and monthly even , although I just look at those once per week. I can not do that if I would want to trade 15-30 FX pairs trying to catch a move (maybe if I would focus on daily charts)
  • #17,396
  • Nov 7, 2023 8:08am Nov 7, 2023 8:08am
Cable had a strong weekly close outside the WCC and above resistance. However, I am not going long here atm. The daily looks like it could just have been buyers trading the range. If sellers push it back in the range, there might at least be a good RR on a BASIC PASR trade.

BOSS and WORKER:
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Fix up, trade sharp ...
  • #17,397
  • Nov 7, 2023 8:14am Nov 7, 2023 8:14am
Quoting bistolis
{quote} I am not consistent yet to be honest. I am showing my best setups. There are still mistakes which i am improving to reduce ( slow progress). There are small losses here and there which drag my profitability down. And some terrible sessions from time to time. Overall though i am not negative but not a super star trader I had a few small wins and losses this morning and the trade i am showing made up for the losses and then some. {image}So far what has worked best for me is right at the NY session open. It provides great opportunity for me...
It will come with time. Focusing on one or a few assets seems wise from my perspective. When I only traded Cable on M5, I had the most success for the longest period (six months) so far. After being away from the markets for more than three years, I will also start with only few assets to watch.
Fix up, trade sharp ...
  • #17,398
  • Nov 7, 2023 8:28am Nov 7, 2023 8:28am
Quoting Strat
M5 S&P 500 ES 12-23 {image} Erratic PA with long wicks and tails today Entries and exits on M1 & M5
Hello Strat, Amazing system you have got here with clean nice charts. I have been doing a lot of reading from page one.

Please I can't seem to find the white/blue arrow and circle indicator. I will be grateful if you share them and their settings.
Again, which EMA settings are you using on your chart?

Waiting for your kind response and assistance. Thanks in advance
  • #17,399
  • Nov 7, 2023 9:34am Nov 7, 2023 9:34am
Very difficult open today. I had to wait and not mess up. Not a great day even though it looks like I caught some nice trades. There are some small losses in between. but overall ok. Maybe I will continue trading after the NY lunch break. For now my energy is depleted
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  • #17,400
  • Nov 7, 2023 9:37am Nov 7, 2023 9:37am
Well this happens when I get tired and my brain is telling me to get out
The little people in my head are having a party right now. Tomorrow is another day
Watching and paper trading and journaling for the rest of the day
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