Strat's PASR Long Term, Stress Free Trading

Let's see if we get a booby trap at (4) on the S&P

Good catch - will be very interesting to watch and trade the outcome

M5 EURO


Trading M1 while trying to watch World Cup games is too difficult and stressful so I switched to M5 - 26% less profitable but a lot easier.

ES - 5mn signal on a 1H support

Hi all,

Been lurking on this thread for a few months now, studying PASR, the original path in the first post, and watching you guys take trades. Thanks so much to Strat and the folks posting here regularly... such great information given freely, hard to express my gratitude just with a little post on a forum.

So much of the first post resonates... as I'm sure many of you know having been through it. I have been in Step 2 for several years... hoping to transition into Step 3 and beyond here. I have thought I made it into Step 3 before... but...

Anyway, I'm trying to break the ice and start posting to have an accountability and feedback network outside of my own stupid head.

Grabbed a trade on M5 UJ this morning
Price reversing to head above the 50, waited for a pullback to resistance, rode it to support and the 200.

Thanks again to all, looking forward to joining the group here.

Hate it when this happens


Ticked out. still a good day overall with some mistakes in the morning. Oh well ,on to the next

and the next one (a couple more inbetween)

M1, M5 EURO (and Morocco v Spain!)

Mroning
Still getting spooked by random price action on m1, although I make improvements. Trading every day(and monitoring charts) and practicing chart reading skills I find is most helpful. Mistakes are unavoidable since I am not even consistent yet.
Here are some trades so far, according to plan (sort of)
shorting the DOW since yesterday in small doses so as not to affect the overall drawdown. Once I reach 2-3% I will ramp up the position size a bit (hopefully by end of NY sessions today)

M1


US session update
took alot of trades again today . I will need to work on reducing all those trades out of fear on missing a move and wait for standard entries even if it means losing a good entry on a move (work in progress as usual)
exit on below chart out of fear to lock some profit and I didnt pay attention 3 minutes later for a re-entry with great PA Overall it is a profitable week , although I still make stupid mistakes (at least they are small losses of 10-25pips , but they add up if I overtrade)

M1 & M5 EURO



The trading Gods were watching over me as I closed my long scalp 1 minute before Putin's nuclear announcement!

Good morning!

You are doing good, bistolis. You are just going through the process of applying your mental psyche to your understanding of PASR. You will, and are improving with trade and screen time. FOMO is the Achilles Heel for all traders especially newbies and get rich quick idiots. Letting missed trades and opportunities go is just a discipline you have to acquire. Do not chase missed trades and opportunities, just let them go - there is ALWAYS another trade being set up later. Make sure you are comfortable with your position and SL criteria. Focus on candles - how they are formed, how fast they move, how they close, how they open etc - this is getting yourself in tune with those moving PRICE. Choose and focus on one time frame until you have mastered it and are consistently profitable before switching about. Act quickly on what you SEE and not on what your Little People are telling you. Remember no-one gets it right all the time, just take the losses on your chin and look for the next set up - make sure you don't let losses be personal - that is, affect your trading psyche.

Thanks for posting

Welcome back, Sagramor.

Before you continue, have you finally finished Holy Grail hunting? If not, come back here again. Until you get the search for the Holy Grail out of your system, you will ALWAYS be distracted by other's posts and threads. There are many ways to make money trading but, like a Casino, the odds favour the Smart Money so get in tune with them the best way you can.

Anyway, I'm trying to break the ice and start posting to have an accountability and feedback network

This is invaluable to your progress if you understand and apply the advice and comments you receive.

Price reversing to head above the 50

Been lurking on this thread for a few months now, studying PASR

I don't know what you were studying but, like most, you are looking for a short cut. Had you ""really"" studied PASR and continued reading the thread, you would know PASR does not use the 50! Yes, the 50 "works" some times as does every moving average under the sun BUT, not enough to be consistently profitable also bearing in mind PASR does not trade moving averages.

waited for a pullback to resistance

Another example of not understanding PASR - PRICE pulled back to SUPPORT! PASR buy set ups are from SUPPORT not resistance. PASR sell set ups are from resistance.

Also, do not fall into the trap of using squiggly lines, bells, whistles, flashing lights, EAs, black boxes, algorithms etc, etc and deleting them from your charts before you post as others on here have done - see posts 15,822 and 15, 824. You will NEVER learn PASR if you use lagging junk as a crutch to confirm PASR.

PRICE and PRICE ACTION is King, Queen, Lord and Country, everything else is subservient and obeys them.

Let's see how you react to this post!

Hi Strat - thanks for the thorough response. I can definitely say that I am not Holy Grail hunting anymore. And as for bells and whistles, no thank you. In fact I started reading your thread because the simplicity really appeals to me. Also, apologies if I came off as looking for a shortcut... I know I have a lot more studying to do.

I spent a lot of time with moving averages, so some of those habits are knocking around upstairs.

Let's see how you react to this post!

I can say I still have a lot of reading to do to get through all the old and new thread pages, but I plan on sticking around. Is it okay if I keep posting charts as I go? Happy to refrain for a bit, but I am looking forward to the journey here.

Is it okay if I keep posting charts as I go?

Of course, it is the best way to understand, learn and improve.

M1 & M5 EURO


The first 11/2 hours was just basic PASR. After that, PA was erratic and irregular which I could not understand so I gave up.

bistolis: Following on from FOMO yesterday:
While I was replying to Sagramor, I missed my sell entry which I identified by the 2 blue down arrows. It was tempting to jump in as PRICE was ranging, but my discipline not to chase missed trades kept me out, knowing there would be another opportunity later on.

From my "old" posts:

""It is better to be OUT wishing you were in, than being IN wishing you were out.""

Of course, the longer time frames smooth out the crap PA which is where Terry would profit while I am out.

M1 & M5 EURO


Traded Basic PASR inside the 5:30am news candle until I switched off to watch Brazil lose to Croatia.

On DOW chart I zoomed in on the news candle bar to 30 seconds, and it was pure Moribozu, or WRB that proved to contain almost all today's PA
As the NYSE session unveiled I mainly traded to the short side, missing some good long setups, very likely due to the impressive news candle bar, but once I seen the evening star, followed by bearish WRB, and the structure of LHs and LLs, accompanied by bearish WRBs made me shorting DOW to the close of NYSE.
I trade mainly DOW and I use additional things related to trading indices, which will confuse the clearly good PSAR strategy.
The only thing I would mention in passing is the importance of WRB in relation of PA and market structure.
Sorry Strat if I am repeating what you certainly know and might have explained previously.
My intention is to emphasize its importance and place in creating confirmed scenarios related to PA and Market structure as it happens during the active trading hours.
Wishing all a great weekend,
2be

Thank you for your post

M1 & M5 EURO



Great PA today. The first couple of hours was like trading sheep falling off the proverbial cliff!

Volume and volatility has dried up so that may be it for today.

M1 & M5 EURO

Not long after the above post, volume and volatility increased due to China's intent to buy Middle East Crude with Yuan/RMB so I jumped on the bandwagon but now it really looks done for the day.

GBPUSD

WEEKLY

1. Price has been in a strong uptrend (1) for some time. We are probably due for some kind of pull back / mean reversion
2. Price has hit (and stalled) at an area of previous resistance (2)
3. The significance of the resistance is confirmed by the doji type candle at (3) and the close within the previous weeks candles range. Weekly Control Candle is now in control...
4. (4) marks a recent, significant weekly swing high

DAILY

1. Higher highs and higher lows showing the up-trend (1)
2. Price puts in a lower high and a shooting star type candle at (2)
3. This is not the most convincing shooting star, however due to its location at an area of strong weekly resistance + the lower high on the daily, it has given me a short bias on the lower time frames. Also - despite having a short bias I'm not banking on price making a huge move to the downside...
4. My target is the area of previous support and resistance drawn at (3)
5. Personally, I like to wait for price to break the low of the shooting star and then come back and re test it from the other side as additional confirmation, my reasons will become clear further down...

HOURLY (version 1)

1. The daily shooting star is shown by the yellow box (1)
2. I was waiting for price to break the low and re-test it from the other side (3)
3. With a target at (2) derived from the daily chart above

HOURLY (version 2)

1. The chart above shows what actually happens & what I did...
2. Price moves down and finds support at the low of the shooting star, it makes two attempts to break the low, but fails both times. We get a triple bottom and price starts to move up and then grinds sideways.
3. This price action would attract...
   1. longs with stops below the triple bottom
   2. shorts trading the breakout of the triple bottom
   3. shorts trading the break of the low of the shooting star on the daily chart for the same reasons as my bias

4. Different trade thesis, however they all use the same order, the SELL STOP order
5. London opens (1) and price spikes down into the area where all these short orders are stacked and almost immediately moves higher?
6. failure for price to move lower, despite all the shorts is a dead give away, that there is a big buyer(s) accumulating and that price is heading higher
7. We then get a huge bullish outside bar on the 1 hour as a result of shorts bailing and new longs seeing the action unfold, and piling in
8. When traders get caught offside like this, you tend to get pretty violent moves + quick resolution on your trades
9. I entered a buy limit above the recent highs at (2) my experience is that price usually retraces after large bars like this one
10. Higher time frame shooting star traders will most likely have there stops above the high (3) so this is where I have placed my target

LESSONS LEARNT

1. In hindsight, I don't believe my target was the best choice because...
   1. There is a lot of higher time frame resistance in the way of this target, including a significant weekly swing high & minor monthly swing high @ 1.2293
   2. The daily is yet to close above this level
   3. I had a short bias on this pair, so I shouldn't of looked for such a big move counter to my bias
   4. Because my bias flipped so quickly, I didn't take the necessary time to analyze the higher time frames properly. This needs to be added to my plan
   5. My target should of been the monthly swing high @ 1.2293 which would of given me a high probability, stress free, low risk, 1.3 R:R in about 3 hours
   6. I do struggle with being too greedy, and often my winners turn into looser's because of this. Many educators tout that we should aim for high risk to reward trades however, I am slowly coming to the realization that a lower risk to reward with a higher strike rate works much better for me and my little people!
   7. My hope is that by acknowledging my mistakes here publicly, I am made accountable and wont repeat the same thing next time