PASR
Assuming that you have exhausted ALL your fantasies with indicators and automatic junk since you are coming here from an indicator thread, you are typical of those looking for a short cut to what is generally accepted as a 3 year apprenticeship in learning to Trade For A Living by being consistently profitable.
I'm studying the old thread not in a linear way, but jumping from one page to another looking for posts on topics that I discover gradually.
This is your SHORT CUT and this is where you are going WRONG!
My old 2009 thread, https://www.forexfactory.com/showthread.php?t=155459 was, and STILL IS, THE PATH of PASR to learn how to Trade For A Living by being a consistently profitable trader. It evolved in a logical and progressive manner, that is, do not move on to the next topic until you have UNDERSTOOD and MASTERED the previous topic.
All my previous students and members who are now consistently profitable and some are Trading For A Living, followed this exactly as I laid it out. Why do you want to "fix what is not broken" or not follow a winning consistently profitable strategy? Are you special that you don't need this or is it the fall out from trying to get rich quick using indicators and automatic junk?
In addition to the theory I know that I need for practice, practice and practice.
Well that's GOOD. At least you have LEARNED something!
So I started trading with small lot size and on a small time frame that gives me more opportunities.
This is GOOD and BAD!
The GOOD part is that you are using a small lot size - hopefully on a LIVE ACCOUNT or, at least, paper trading but NOT on a demo account. Make sure it is the SMALLEST size your broker has and do not commit to more than 1% of your account on your TOTAL trades UNTIL you KNOW what you are doing.
The other GOOD part is that you recognise you can accelerate your training, learning and understanding by using a shorter time frame where everything happens MORE and FASTER. There are 288 M5 candles in ONE daily candle so the opportunity to LEARN and UNDERSTAND faster is there providing you are reading, learning and understanding The Path at the SAME RATE - which YOU obviously are not.
The BAD part is that you have not READ, LEARNED or UNDERSTOOD The Path before trying to trade PASR.
I look for the alignment of all three time-frames and support and resistance zones to take a trade.
This is a perfect example of a SHORT CUT of not READING, LEARNING and UNDERSTANDING!
My consistently profitable M5 strategy DOES NOT wait for the alignment of all 3 time frames!!!!!!!!!!! You need to READ, LEARN and UNDERSTAND my M5 strategy ""if"" you are going to trade the New York session. Since you are in Italy (can you be my next "pizza man"?), you should be able to also trade the London session.
I have spent a lot of my time in answering this for you as I have "seen" you on my thread many times and believe you are a sincere person who REALLY wants to commit themselves to PASR and then become consistently profitable.
This might sound like a "bollocking" (which it is) but it is done for a reason. There is a post somewhere which explains what that reason is.
My next post will show YOU where you went wrong with USDJPY
DislikedHello everyone, I embraced the PASR philosophy after realizing how true there were behind strats's words on the uselessness of indicators. I'm studying the old thread not in a linear way, but jumping from one page to another looking for posts on topics that I discover gradually. In addition to the theory I know that I need for practice, practice and practice. So I started trading with small lot size and on a small time frame that gives me more opportunities. I look for the alignment of all three time-frames and support and resistance zones...Ignored
I'm studying the old thread not in a linear way, but jumping from one page to another looking for posts on topics that I discover gradually.
This is your SHORT CUT and this is where you are going WRONG!
My old 2009 thread, https://www.forexfactory.com/showthread.php?t=155459 was, and STILL IS, THE PATH of PASR to learn how to Trade For A Living by being a consistently profitable trader. It evolved in a logical and progressive manner, that is, do not move on to the next topic until you have UNDERSTOOD and MASTERED the previous topic.
All my previous students and members who are now consistently profitable and some are Trading For A Living, followed this exactly as I laid it out. Why do you want to "fix what is not broken" or not follow a winning consistently profitable strategy? Are you special that you don't need this or is it the fall out from trying to get rich quick using indicators and automatic junk?
In addition to the theory I know that I need for practice, practice and practice.
Well that's GOOD. At least you have LEARNED something!
So I started trading with small lot size and on a small time frame that gives me more opportunities.
This is GOOD and BAD!
The GOOD part is that you are using a small lot size - hopefully on a LIVE ACCOUNT or, at least, paper trading but NOT on a demo account. Make sure it is the SMALLEST size your broker has and do not commit to more than 1% of your account on your TOTAL trades UNTIL you KNOW what you are doing.
The other GOOD part is that you recognise you can accelerate your training, learning and understanding by using a shorter time frame where everything happens MORE and FASTER. There are 288 M5 candles in ONE daily candle so the opportunity to LEARN and UNDERSTAND faster is there providing you are reading, learning and understanding The Path at the SAME RATE - which YOU obviously are not.
The BAD part is that you have not READ, LEARNED or UNDERSTOOD The Path before trying to trade PASR.
I look for the alignment of all three time-frames and support and resistance zones to take a trade.
This is a perfect example of a SHORT CUT of not READING, LEARNING and UNDERSTANDING!
My consistently profitable M5 strategy DOES NOT wait for the alignment of all 3 time frames!!!!!!!!!!! You need to READ, LEARN and UNDERSTAND my M5 strategy ""if"" you are going to trade the New York session. Since you are in Italy (can you be my next "pizza man"?), you should be able to also trade the London session.
I have spent a lot of my time in answering this for you as I have "seen" you on my thread many times and believe you are a sincere person who REALLY wants to commit themselves to PASR and then become consistently profitable.
This might sound like a "bollocking" (which it is) but it is done for a reason. There is a post somewhere which explains what that reason is.
My next post will show YOU where you went wrong with USDJPY
15 YEARS OF PASR ON FOREX FACTORY!
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