Since learning everything doesn’t work, I’ll have to stop myself from passively doing it as well. Confuse is not the right word to describe, losing direction is a better description.
So the point is, learn enough, then practice intensively to be profitable.
Another issue I come across is, my trading plan isn’t tight enough, so there will be time I miss good entries, and went in bad entries. So I need to have a couple rules that says if these happen, must entry.
So after restudy and restructuring from PASR thread, here is the three major confirmation of PASR entry.
I’ll let it be summary in this post, get into detail later along the way of this blog.1Again, these are just confirmation, not the setups.
1. Common Chart Pattern In Fractal
I’ll refer this as PASR chart pattern, but then it probably called trend line break out or something like that, but it really is not.
The main concept of this is just keep buying every retracement until it reverse, and avoid consolidation.
I don’t think this is hard to understand, but it sure take some time to aware that it is important when it is deep into the thread. 2Especially when English is not your main language, and you take everything literally what it mean, then you f**k up. So I’ll just post some example.
2. Confluence of SR
This is just straight forward. When horizontal SR confluence with at least 2 other tools including Strat Shadow, 200ema, boss/BB SR, fib, TL or DSR.
I prefer prioritizing TL and 200ema, when either of these 2 confluence with Strat Shadow and SR, it usually pretty strong.
3. Time Frame Harmony
It can be summarized in n#430.
Here is an example for USDCAD.
And another one for AUDCAD
There is still a couple unanswered questions about this though:
- Can I use PASR Chart Pattern to determine whether currently is bullish or bearish?
- Does every single closed PA on BB chart matter? How do I work with them?
However, just to reduce the complexity, determine where PRICE is now relative to SR and current momentum would be enough.
It needed to be simple and effective. Anything that add complexity to PASR I will kind of leave them aside for now.
Here is the thing, any Daily PASR setup that fulfill minimum of 2 confirmations above is a must entry. If I miss any PASR setup that have all 3 confirmations, I’ll do a hundred push up(unless there is valid reason).
Exit is more about discipline. This I will cover next time. So I will be focusing on Daily Chart as usual. However, since it only take 15-20min a day3Strat said that. It usually take 2 hrs for me., I will have the rest of my time trading 5min or doing 1min bootcamp.
So it will probably be something like –
– wake up, check Daily chart, find all potential 5min good trades of last closed, post them on here & forum, reply forum4with short answer due to time
– back from work, trade 5min or m1 bootcamp depend on market, reply forum if necessary
– free time, read from n#1 to n#1000, and only focus on these 50 pages. I can’t understand everything even if I read slowly anyway, so focusing on learning enough rather than learning all would help.
Of course, let’s see how long this will last. First journal lasted 3 days, 2nd journal roughly lasted 3 weeks. Third attempt here I go.