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Strat's Long Term Stress Free Trading

  • #19,221
  • May 14, 2014 4:02pm May 14, 2014 4:02pm
EURCAD

Pulled the plug on add on positions going nowhere

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15 YEARS OF PASR ON FOREX FACTORY!
  • #19,222
  • May 14, 2014 4:11pm May 14, 2014 4:11pm
EURGBP

Basic PASR trade set up for those who can stay awake long enough to trade this pedantic pair!

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15 YEARS OF PASR ON FOREX FACTORY!
  • #19,223
  • May 15, 2014 2:43am May 15, 2014 2:43am
Strat
This is my first post to this thread, I must firstly compliment you on the content of this and your website I find the clarity of your method very refreshing. I've been trading for around 5 years and done the usual chasing of the holy grail by throwing money at various guru's and black box systems, to 'pay for my education'.

The mantra of trading only with the direction of the overriding trend and using PASR to pick entry points is something I must have seen dozens of times over the years, but for some reason picking up your thread recently is the first time it has properly resonated with me, maybe my psyche is finally ready to accept the simple truth?

I've read the full Path on your site which is clear and easy to follow. I haven't yet had the time to review all 962 pages of this thread so forgive me if this is covered further back, but I am curious about your new trade on AUD/NZD.

My own analysis of this pair was that the last weekly bullish candle demonstrated a potential trend change, by being almost engulfing and setting a higher low, with the gap in support levels accelerating. ( Mid Jan support @ circa 1.0490 - mid March @ 1.0520 = 30 pips. March @ 1.0520 - May 1.0670 = 140pips).

I was therefore looking for a long entry and considered that the hammer on 13/5 that appeared to test and pull away from previous support at circa 1.0810 was an oppertunity.

I am therefore curious to learn more about your strategy of picking shorts, within a bullish weekly candle?

Many thanks
Getting there, slowly but surely...
  • #19,224
  • May 15, 2014 9:56am May 15, 2014 9:56am
Quoting Edlich
Strat This is my first post to this thread, I must firstly compliment you on the content of this and your website I find the clarity of your method very refreshing. I've been trading for around 5 years and done the usual chasing of the holy grail by throwing money at various guru's and black box systems, to 'pay for my education'. The mantra of trading only with the direction of the overriding trend and using PASR to pick entry points is something I must have seen dozens of times over the years, but for some reason picking up your thread recently...
Thank you for your kind and complimentary words which I find very refreshing in today's trading environment.

AUDNZD

""I was therefore looking for a long entry and considered that the hammer on 13/5 that appeared to test and pull away from previous support at circa 1.0810 was an opportunity""
We need to correct this first. In true PRICE ACTION, a HAMMER can only appear at the bottom of a DOWN swing/trend. What you describe as a HAMMER on May 13, 2014 is at the top of an UP swing/trend and is therefore a HANGING MAN. In my PASR method, a hanging man has no significance other than to warn us of a potential end of a move. We do not act on this candle alone and instead, wait for CONFIRMATION. The following day, May 14, 2014, we got confirmation in the form of a BEOB at RESISTANCE which is classic PASR.

Now for the Boss (Week) view:
The PRIMARY TREND is DOWN. PRICE put in a CONFIRMED swing high on week ending April 18, 2014 followed by a double confirmation the following week on April 25, 2014. There has been no subsequent PRICE ACTION to change that PRIMARY TREND. Furthermore, we have a WEEKLY CONTROL CANDLE which is containing subsequent PRICE ACTION where PRICE is now being rejected from the high of that Weekly Control Candle. We are trading short down to the bottom of the Weekly Control Candle which acts as SUPPORT.

While I developed the WEEKLY CONTROL CANDLE concept very early in this thread, the actual use of it in trading is only within the members' website. Sorry.

The Worker chart below should help you understand a little better.

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15 YEARS OF PASR ON FOREX FACTORY!
  • #19,225
  • May 15, 2014 11:22am May 15, 2014 11:22am
Quoting patrick25
Nzdchf You know what they are trying, will following their foot steps. {image}
Lucky guess, we are not big enough to lead so we will follow.
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  • #19,226
  • May 15, 2014 11:40am May 15, 2014 11:40am
NZDCHF

I thought you were going to take it on H4, Patrick. It was a very easy and stress free 34 pips or so

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15 YEARS OF PASR ON FOREX FACTORY!
  • #19,227
  • May 15, 2014 12:44pm May 15, 2014 12:44pm
Quoting strat
NZDCHF I thought you were going to take it on H4, Patrick. It was a very easy and stress free 34 pips or so {image}
Trading retirement account now, more focus on daily.
  • #19,228
  • May 19, 2014 3:35pm May 19, 2014 3:35pm
AUDCAD

This is what happens when you try to trade smack bang in the middle of a WEEKLY CONTROL CANDLE! I must practice what I preach!

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15 YEARS OF PASR ON FOREX FACTORY!
  • #19,229
  • May 20, 2014 9:19am May 20, 2014 9:19am
Quoting patrick25
{quote} Lucky guess, we are not big enough to lead so we will follow. {image}
And follow we did, see beyond candles.
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  • #19,230
  • May 20, 2014 2:49pm May 20, 2014 2:49pm
CADCHF

Having made THOUSANDS OF PIPS from the 120 WEEK DOWN TREND using our PASR TREND TRADING techniques, students are watching and studying this pair in readiness for the next trend.

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15 YEARS OF PASR ON FOREX FACTORY!
  • #19,231
  • May 21, 2014 10:39am May 21, 2014 10:39am
GBPCAD

A little bit late joining the party on this one - waited for additional confirmation from the Strat Shadow.

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15 YEARS OF PASR ON FOREX FACTORY!
  • #19,232
  • May 21, 2014 11:17am May 21, 2014 11:17am
Chfjpy

I like price acticon coming down to support so far. They may fake and push down to next support but don't worry as we are PASR traders will wait for her down there too.
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  • #19,233
  • May 21, 2014 1:22pm May 21, 2014 1:22pm
GBPUSD

Extract from post on www.stratsforextrading.com

The POWER of the STRAT SHADOW in trends

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15 YEARS OF PASR ON FOREX FACTORY!
  • #19,234
  • May 21, 2014 1:31pm May 21, 2014 1:31pm
Quoting patrick25
Chfjpy I like price action coming down to support so far. They may fake and push down to next support but don't worry as we are PASR traders will wait for her down there too.
Just to fine tune PASR, Patrick:

CHFJPY

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USDJPY

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15 YEARS OF PASR ON FOREX FACTORY!
  • #19,235
  • May 21, 2014 2:23pm May 21, 2014 2:23pm
GBPCHF STOP RUN

My post yesterday to the membership warned them of not trading short below the Shooting Star and prevented them being victims of the BIG BOY's STOP RUN

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15 YEARS OF PASR ON FOREX FACTORY!
  • #19,236
  • May 21, 2014 4:35pm May 21, 2014 4:35pm
Quoting strat
GBPCHF STOP RUN My post yesterday to the membership warned them of not trading short below the Shooting Star and prevented them being victims of the BIG BOY's STOP RUN {image}
Hi Strat,

any reason why you knew the shooting star wouldn't work out and told members not to take the short? Was it anything to do with the major resistance just above (which goes back years)? Also do you mind if I ask why it seems you have the 200EMA on some charts and not on others?

Any response will be much appreciated, thanks a lot
Maybe money can't buy happiness, but it can give you freedom.
  • #19,237
  • May 21, 2014 4:53pm May 21, 2014 4:53pm
Quoting pipdreamer
{quote} Hi Strat, any reason why you knew the shooting star wouldn't work out and told members not to take the short? Was it anything to do with the major resistance just above (which goes back years)? Also do you mind if I ask why it seems you have the 200EMA on some charts and not on others? Any response will be much appreciated, thanks a lot
GBPCHF

See copy of my post yesterday to the membership explaining the reason not to go short under the Shooting Star - sorry I can't show all the chart as it contains proprietary information.

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200EMA
I have the 200 EMA on my master template but not all forex pairs react to it so, for members, I leave it off those pairs where it is just "floating" in mid air. The less we have on our charts, the less there is to confuse our trading brain (for those that have one!)

Thank you for your interest.
15 YEARS OF PASR ON FOREX FACTORY!
  • #19,238
  • May 22, 2014 9:41am May 22, 2014 9:41am
EURCAD

Waiting for answers:

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15 YEARS OF PASR ON FOREX FACTORY!
  • #19,239
  • May 22, 2014 5:24pm May 22, 2014 5:24pm
Thanks a lot for the reply Strat. It seems you called that GBPCHF perfectly, anyone who had goneshort on that shooting star would have been hurting that's for sure and I was tempted...

Thanks for the info about the EMA as well. Cheers, have a good weekend
Maybe money can't buy happiness, but it can give you freedom.
  • #19,240
  • May 23, 2014 1:39pm May 23, 2014 1:39pm
GBPUSD

Since we know that our Weekly Control Candles act as SUPPORT and RESISTANCE, we can use PASR for very easy, stress free trades.

GBPUSD for example is under the CONTROL of a WCC shown in blue on the Worker. We then use our PASR methods to enter LONG above the Hammer at the bottom of the WCC AND supported by the Strat Shadow and set our Take Profit at the HIGH of the WCC which is RESISTANCE.

100 EASY pips in 4 days without breaking a sweat and a couple of SECONDS each day to monitor it.

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15 YEARS OF PASR ON FOREX FACTORY!
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