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5-min PASS (Price Action Scalper System)

  • #801
  • Edited 5:36pm Mar 1, 2011 5:20pm | Edited 5:36pm
In on EURUSD long @1.3782 .. looks like its going against me right now lol..

Edit: Buy lines are different due to high spread on demo account

Edit 2: Looks like its definitely going against me in the other direction. Will wait till I get stopped out.

Edit 3: Got stopped out. Oh well!
Attached Image (click to enlarge)
Click to Enlarge Name: Capture.jpg Size: 198 KB
  • #802
  • Mar 1, 2011 6:03pm Mar 1, 2011 6:03pm
Quoting maneck35
In on EURUSD long @1.3782 .. looks like its going against me right now lol..
careful on using that fractal..it is formed before ema finish pointing. It looks like a faster entry, but when ema is converging it could also just mean that we are at the end of a retracement.
  • #803
  • Mar 1, 2011 11:36pm Mar 1, 2011 11:36pm
what is the PASS_EMA_Conv_5pip.ex4? it's not an indicator..? sorry for such a noob question.
  • #804
  • Mar 2, 2011 1:23am Mar 2, 2011 1:23am
Quoting chick3n420
what is the PASS_EMA_Conv_5pip.ex4? it's not an indicator..? sorry for such a noob question.
thats an EA.. paste it in Experts folder. Open in MT4 by clicking > View> navigator window
  • #805
  • Mar 2, 2011 2:29am Mar 2, 2011 2:29am
Has anyone some tool to prevent entering tricky market like it was this morning?
Coz I usualy use only the rule of not trading before 8am London time (coz starting 8 the big money are moving the markets..)
Attached Image (click to enlarge)
Click to Enlarge Name: up n down.gif Size: 39 KB
Lose small, WIN BIG..
  • #806
  • Mar 2, 2011 4:25am Mar 2, 2011 4:25am
Few minutes ago I tried PASS @ OIL makret
Result? 37 pips profit!!!
It was only DEMO trade... but still..I´m going to look a bit more on oil coz it seems working too!!
Attached Image (click to enlarge)
Click to Enlarge Name: oil.gif Size: 36 KB
Lose small, WIN BIG..
  • #807
  • Mar 2, 2011 6:07am Mar 2, 2011 6:07am
Quoting maneck35
In on EURUSD long @1.3782 .. looks like its going against me right now lol..

Edit: Buy lines are different due to high spread on demo account

Edit 2: Looks like its definitely going against me in the other direction. Will wait till I get stopped out.

Edit 3: Got stopped out. Oh well!

The 48 EMA was still above the 6 and 12 EMAs, and thus there is no signal to buy yet. The EMAs shuld be lined up correctly before you even look for a fractal ... You entered too prematurely
  • #808
  • Mar 2, 2011 6:12am Mar 2, 2011 6:12am
Quoting Pmg.g
Few minutes ago I tried PASS @ OIL makret
Result? 37 pips profit!!!
It was only DEMO trade... but still..I´m going to look a bit more on oil coz it seems working too!!

Great job.

I see you have started drawing the mini trendlines. that is exactly the idea
  • #809
  • Mar 2, 2011 6:13am Mar 2, 2011 6:13am
Quoting Pmg.g
Do you think somethink like this buddy ?

That is exactly it Jakub.
  • #810
  • Mar 2, 2011 6:13am Mar 2, 2011 6:13am
Quoting PurePrice
Great job.

I see you have started drawing the mini trendlines. that is exactly the idea
It´s pretty cool idea it made me 98 pips this morning (GMT +1)
But again..on DEMO
Lose small, WIN BIG..
  • #811
  • Mar 2, 2011 6:20am Mar 2, 2011 6:20am
Quoting Pmg.g
Has anyone some tool to prevent entering tricky market like it was this morning?
Coz I usualy use only the rule of not trading before 8am London time (coz starting 8 the big money are moving the markets..)
It is hard to filter this out without missing a "tight" entry. This is just the nature of the market. However, if we stick with the original rules of PASS system, it will keep you out of most of those bad trades, because it needs confirmation of momentum before entry, and hence the "late" entry. The PASS states that we need to get a fractal AFTER the EMAs line up, and then the PRICE must go through the fractal by 2 pips before you enter the market. This will result in a safer trade but a later entry. If we try to get into the market just after the cross of EMA with early entry, you will get stopped out. So take your pick. If you are more risky and want to squeeze every pip out of the trade, you will get more false signals. If you are more of conservative trader and are willing to give up a few pips for the purpose of more reliable signal, then waiting using basic PASS is the way to go.
  • #812
  • Mar 2, 2011 6:24am Mar 2, 2011 6:24am
Quoting Pmg.g
It´s pretty cool idea it made me 98 pips this morning (GMT +1)
But again..on DEMO
Demo or not, it is still a good way to learn. I think demo needs to be mastered before you move on to very small live and then increasing the size of the account gradually.

I think I mentioned in one of my previous posts that you need to be consistently profitable for three month demo before you move on.
  • #813
  • Mar 2, 2011 6:46am Mar 2, 2011 6:46am
anyone catch those setups in london ???
  • #814
  • Mar 2, 2011 6:48am Mar 2, 2011 6:48am
and may setup for a re-entry long soon .. however, there is some news out at 8:15 so be careful
  • #815
  • Mar 2, 2011 6:49am Mar 2, 2011 6:49am
Quoting PurePrice
and may setup for a re-entry long soon .. however, there is some news out at 8:15 so be careful

We are also sitting at R1 whih is also round number 16300, the more reason for a bounce up , let's wait, watch and see PA confirm
  • #816
  • Mar 2, 2011 6:50am Mar 2, 2011 6:50am
Hi

Just for confirmation for a buy first the 6 ma should be above 12 ma which should subsequently be above 48 ma and once these mas are lined up an upper fractal is formed we enter 2 pips above that with a 2 pips stop below the lower fractal?

looking forward to your reply

Regards

Ali
Raza
  • #817
  • Mar 2, 2011 6:51am Mar 2, 2011 6:51am
Quoting PurePrice
We are also sitting at R1 whih is also round number 16300, the more reason for a bounce up , let's wait, watch and see PA confirm

Very similar setup here for eurusd (except of the round number)
  • #818
  • Mar 2, 2011 7:08am Mar 2, 2011 7:08am
Quoting PurePrice
Demo or not, it is still a good way to learn. I think demo needs to be mastered before you move on to very small live and then increasing the size of the account gradually.

I think I mentioned in one of my previous posts that you need to be consistently profitable for three month demo before you move on.
PP u are absolutely right. I´m on live real account since autumn 2009 and I´m using my Demo account for testing new setups.. On PASS I´m now on live also but with very small amount of money (200$)...

I think that for begginers it´s essential to start with some tiny live asap becouse thats the only way they can learn how to manage their MM and how LOSE the money... If we want or not, it´s part of trading and I think the most important - how to close your possitions that have turned against you...

cheers
Lose small, WIN BIG..
  • #819
  • Mar 2, 2011 7:09am Mar 2, 2011 7:09am
stay on the sidelines for now, or tighten our stops if you have open positions
  • #820
  • Mar 2, 2011 7:12am Mar 2, 2011 7:12am
Hi PP and everybody.

Here is the picture of my last trade on EU early this morning at London Open.

1. Entry: 1.3777 (2 pips above last Fractal Up)

2. SL: 1.3758 (last Fractal Down)..... 19 pips on risk.

3. Move SL at 1.3760

4. New SL 1.3777 (new Fractal Down) now on BE.

5. Last Sl 1.3825

6. SL Hit - Position Closed with 48 pips
Attached Image (click to enlarge)
Click to Enlarge Name: eu 0203.gif Size: 37 KB
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