Strat's PASR Long Term, Stress Free Trading

I think you have gone a little mad...

Wow, it has been almost 10 years since my last post on forex factory and Strat is still here! Congrats on your 13th anniversary and sorry for not saying goodbye.
I remember that in my last posts I was defending your teachings and your 13th anniversary here proves that I was right.

I would like to share my story with you guys. Maybe it will be of use to someone.

Back in 2013 I gave up, after 8 years of struggling with markets, I came to the conclusion that either I am completely unfit for this job or I am not ready yet.
I had the feeling then that I was unable to master the gremlins in my head when I entered the market. I was telling myself one thing, planning one thing and doing something opposite. I have never blown up any account, reached BE point and then I gave up.

The experience with the markets has given me a lot. You may think I'm crazy but now I think my failure was good for me, it was very valuable lesson. Market is a perfect mirror, it will show everything that is inside you. Those things you hide from yourself and from the world. It will show you your shadow and this is perfect initiation if you think about not only financial PATH but first and foremost about the PATH of discovering who you are generally. I saw clearly that in some situations I do not have full control over myself, that my subconsciousness rules me. It was enlightening, to see myself as a helpless being, who cannot stick to a pre-set plan and is just flooded with fear and greed.
Also, today I see that at some point I stopped believing in myself, I have just burnt out. One has to have strong belief in one's abilities and strong will to be successful in this business. Today, I'm certain that without believing in yourself that you will make it, there is no point in starting at all.

On top of emotional issues Lyme disease has struck me hard. I have been literally fighting for my life during last 10 years and I won! Thanks to this experience I have found my belief and courage. Lyme is a very strict teacher just as the market is You must work hard on yourself to survive. There are no free lunches.
To survive Lyme you need to have a good plan and you need to follow it strictly. You cannot eat/drink everything (no to mention alc and drugs), you need good herbs and eat them regularly (although they give you herx - sometimes you feel worse after taking them), you have to look after you mental health, meditate (vipassana and jhanas are great!) and exercise regularly, you need to fast from time to time (longest was 30 day on water only) etc. Generally perfect discipline is crucial to survive. Day by day, without excuses. I can see many similarities with survival process on the markets.

I would like to challange myself once again. I'm willing to meet gremlins once again and try to master them. I would like to manifest mantra "I am master of my mind" fully. My plan is to refresh my knowledge about THE PATH, read this thread and material on the old website once again. Great that it is for free now!
I would like to demo/paper trade for the next 4 months and when my peformance will be ok I will feel ready I go live with five figures risking 0,5% at the beginning.

As for technical analysis I made a trade today on EUR/USD.
For the sake of learning of us all here is my thought process.

BIGBOSS
I knew that yesterday 12.05 we have reached the level of 2016 lows. I knew that probably there is no much room left to enter short, at least not on higher times frames. On hourly I saw nice pullback to 20ema and big bearish candle, which broke pullback's trendline. PA was clearly still showing weakness and I decided to wait for the retest of this small TL and resistance levels.


BOSS
On M15 market made shooting star right at TL and resistance levels, price closed below bearish strat's shadow.


WORKER
I have entered the market from M5. Stop was above PA formation (with spread 11 pips). Unfortunately I screwed trade managment.
I did not stick to my plan, which was to keep position to re-test 12.05 lows...I saw bullish candle marked with up arrow on the chart and decided to close the postion with 0,7R. The price was still under 1,03827 level, until it was closiing under I should have kept the postion open according to the plan! I have left 1,8 R on the table.
I see that the biggest challenge for me is trade management and letting profits run. Closing this postion was based on FEAR, not on technical analysis. Good place to close was the hammer at 12.05.2022 and 2016 lows.


I will pop in from time to time to share my analysis and comment on the trades of the others.
Stay safe and trade well.
Cheers,
Chris

Congrats on your 13th anniversary
I remember that in my last posts I was defending your teachings and your 13th anniversary here proves that I was right.

Thank you.

Market is a perfect mirror, it will show everything that is inside you. Those things you hide from yourself and from the world. It will show you your shadow and this is perfect initiation if you think about not only financial PATH but first and foremost about the PATH of discovering who you are generally.

The Market will either make you or destroy you and when it destroys you it shows no mercy - it will chew you up and spit you out in little pieces!

On top of emotional issues Lyme disease has struck me hard. I have been literally fighting for my life during last 10 years and I won!

Well done!

I would like to challenge myself once again. I'm willing to meet gremlins once again and try to master them.

Don't "try" - BELIEVE in yourself - tell your subconscious you WILL master them

As for technical analysis I made a trade today on EUR/USD.
I saw bullish candle marked with up arrow on the chart

It was a bullish candle yes but, MORE IMPORTANT, it did not take out the high of the previous bearish candle AND it was an INSIDE CANDLE. Also, while PRICE paused at Support, the PA STRUCTURE was making LOWER highs and LOWER lows telling you to hold your shorts until there was PASR which appeared with that "hammer looking" candle. Then, look at the Strat Shadow - that is telling you to stay short.

I see that the biggest challenge for me is trade management and letting profits run. Closing this position was based on FEAR, not on technical analysis.

From what you have posted, your biggest challenge is your trading psychology - controlling and managing your FEAR and GREED emotions.Then, before trade management, you MUST stick to and FOLLOW your PLAN.

decided to close the position with 0,7R. The price was still under 1,03827 level, until it was closing under I should have kept the position open according to the plan! I have left 1,8 R on the table.

These R:R numbers are meaningless, the Market does not care what your R:R is - the Market has no R:R boundaries so just follow PA and take whatever it gives you.

Thank you very much for your post and it WILL help those who are in, have been in, similar situations. I doubt though it will help those with a "Get Rich Quick" mentality or those looking for the "Holy Grail"/magic indicators(s).

Hi Baniu. welcome back. Good to know that you have conquered your sickness. After a lapse for so long years, you still made money. It's a good new beginning.

Corinna

Thank you Strat


Yes, you are right, trying is not enough. I did not express myself precisely. You need to affirm firmly, that it is so. See the outcome, make it happen.
Mental rehearsal of the actions we want to take during trading is a good place to start. Seeing and feeling yourself waiting patiently for a sore thumb trade and that you are executing this set up perfectly, may increase the odds that it will happen so in reality. In the world of sport they use this technique very often. Subconscious mind cannot discriminate between actual and imagined experience. You can teach it right behaviour with mental rehearsal, to stack the odds in your favor.
I have discovered and experienced sometime ago that relaxed state of mind opens up subconscious mind and it is easier to benefit from doing affirmations and visualisations. They sink in better.
Wim Hof breathing techniques are brilliant to relax instantaneously This guy holds 21 Guinness World Records.
This for better for mental performance, still you need to spend thousand hours at thousand charts to identify sore thumbs at a glance.


Thank you very much for this explanation. This clarifies and sums up why I should stay in short position and refrain myself from closing it prematurely.


You're welcome. I'm more than happy to share my experience and what I have learned on THE PATH so far.
THE PATH is not easy, it's good to have fellow traders, who can help. Thank you for all that you have done for the community.

Thank you Corinna Yes, it has been a long and difficult episode in my life but it taught me a lot, I have changed and I believe it will affect my trading positively.
It's good to be here.
Chris

BOND CANDLE
A GOOD EXAMPLE OF A TRADE THAT SHOULDN'T HAVE BEEN TAKEN

On 13.05 looking at USDJPY H4 one could see shooting star testing 20ema right at SR with negative Strat's Shadow and think hmmm what a nice setup BUT
this candle was ill-proportioned (58 pips almost 40% smaller than previous bullish hammer). This showed that sellers were weak.
What is even more important BOSS and BIGBOSS are in strong uptrend with daily testing 20ema.
Yes, 12.05 is quite big bearish candle on daily but it also has a quite big tail.

On H4 one could get out from the market after the next candle after the bond candle closed, where buyers clearly stepped in once again.
On the charts my effort to go long from M5 is marked but I got stopped out at BE. That's the story for another post.

WORKER


BOSS

Basic Pasr on Weekly Resistance Shootingstar on H1

Hi Indipip,

For me selling that of H1 would be extremely risky trade. On H4 and D1 we are in uptrend.
Look also at the size of this candle and compare it to others on H1 on this pair, which caused any substantial reversal.

BOND CANDLE

Ah yes, my old friend Bond. The last I heard he had divorced his wife and was living the life of a gigolo selling time shares in Cabo San Lucas!

M1 EURO

Easy trading today compared to yesterday's pickled cabbage PA!

M5 Entry on NZDCad

M1 EUR

PA not as easy as yesterday but SR and Strat Shadow as reliable as ever

Good job

let's have a little discussion... anybody interested...............

I can remember I had argument with my fellow Strat's students about using historical Strat shadow crossing as S/R level..

I entered a trade today and picked quick scalp ... looks like strat shadow crossing worked or is it? let's hv a little discusion..if anybody interested ONLY

If there is any interest then I will reply why this worked .........



enjoy

Mi EURO



Rumbling stomach says stop for breakfast!

Excellent Suranga! Let's see who posts - Terry should but may have switched to golf now the white stuff has melted.

M1 EURO


Price is gapping - lunch time in NY - come back in an hour

M1 EURO

They didn't go for lunch - that's the life of a retail trader!

Why you don't use volumes for analyse?