Attachments: Strat's PASR Long Term, Stress Free Trading

Strat's PASR Long Term, Stress Free Trading

#2,321
Feb 18, 2018 10:04am Feb 18, 2018 10:04am

Hugo55
| Joined Jun 2014 | Status: Trader | 165 Posts

Hello Strat and fellow traders!

Thank you so much Strat for taking the time teaching us how to read PASR,
it is an enormous task.
I have not gone through the whole tread yet, still learning.

Thanks.

#2,322
Edited 10:36am Feb 18, 2018 10:14am | Edited 10:36am

Strat
Joined Feb 2009 | Status: 15 YEAR PASR THREAD Senior Member | 12,379 Posts

PASR

Quoting darko2010

Disliked

Strat, I have been studying charts over the weekend and looking at how my psychology may block me from taking valid trades and/or rush me into invalid trades. On Friday morning European time, I was faced with such a decision on EU and even though I saw multiple entry opportunities, I didn't dare take the first 3 because: On 1, I viewed the dotted arrow zone as a risk of rebound and, looking left, it seemed to messy to invite to a trade On 2, I didn't want to sell into support On 3, we did break support with a BEEB, and even though the sell signal...

Ignored

psychology may block me from taking valid trades and/or rush me into invalid trades.

This is very common and grips all of us when we are inexperienced (and some who are experienced). This is your FEAR of LOSING. This is your Little People trying to PROTECT you and your account. Read and re-read everything I have posted on Trading Psychology and others you can find. Make sure you get your hands on TITZ!

I didn't dare

This is because you are not sure and not confident in your UNDERSTANDING of my M5 trend trading strategy. Make sure you UNDERSTAND it 100% before trading/watching. As I have posted to others, spend hours and hours, days and weeks watching how PRICE reacts with the Strat Shadow on M5. THEN, do the same exercise on M1.

On 1, I viewed the dotted arrow zone as a risk of rebound and, looking left, it seemed to messy to invite to a trade

This is natural and very common when you are inexperienced. Once you have got thousands of hours trading thousand of charts, you will enter these trades in your sleep.

Now you are GRIPPED WITH FEAR! FEAR of LOSING your hard earned money.

What money, Inspector Clouseau! Your RISK is ONLY 15 pips! Your REWARD is at RISK until PRICE has CLOSED below the 200 ema. Tell your Little People that YOU have GOOD Money Management and YOU can afford to RISK 15 pips! These don't ALWAYS work out and you will occasionally get stopped out BUT it is peanuts compared to the 120 pips you will make when you RE-ENTER and even more when you ADD ON.

On 2, I didn't want to sell into support

Same answer as 1

On 3, we did break support with a BEEB, and even though the sell signal seemed clear, there was a wick and I was paralyzed by the fear of being sucker punched by support

Yes, it was clear and you would have been in PROFIT had you entered at 1 & 2.

there was a wick

Yes, but it was NOT a PRICE REJECTION wick. After you have put in your hours, days and weeks (experience) you will UNDERSTAND.

I was paralyzed by the fear

Who is doing the trading? - you or your alter ego, Inspector Clouseau (Little People)? Read, read and re-read on Trading Psychology.

On 4, finally, it was a "clean" signal for me

Very good! This is actually the first STRESS FREE, LOWEST RISK entry. So, say you entered at 4, what would your PLAN be? Where would you place your Stop Loss? Where would you ADD ON? Where would you TAKE PROFIT?

Good job darko - a BIG step on the M5 PATH

15 YEARS OF PASR ON FOREX FACTORY!

#2,323
Edited 11:05am Feb 18, 2018 10:38am | Edited 11:05am

darko2010
| Joined Apr 2010 | Status: Trader | 1,025 Posts

Quoting strat

Disliked

PASR {quote} So, say you entered at 4, what would your PLAN be? Where would you place your Stop Loss? Where would you ADD ON? Where would you TAKE PROFIT?

Ignored

Thanks Strat, I bought TITZ and will start reading later today

Had I entered at 4, I would have probably protected my profits by taking 50% after 1 and a stop at the dotted line for the rest. I would have taken the rest of the profit on 2 even though the "real" pushback materialized 5 bars later. Just trying to be honest on how I would have managed the trade, idealizing trades with hindsight only flatters ego but does nothing for improvement.

EDIT: I forgot to mention where my initial SL would have been. Given PA before the entry on 4, I would have placed it a few pips above the former support (now resistance)

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#2,324
Feb 18, 2018 10:54am Feb 18, 2018 10:54am

Strat
Joined Feb 2009 | Status: 15 YEAR PASR THREAD Senior Member | 12,379 Posts

PASR

Quoting Hugo55

Disliked

Hello Strat and fellow traders! Thank you so much Strat for taking the time teaching us how to read PASR, it is an enormous task. I have not gone through the whole tread yet, still learning. Thanks.

Ignored

So, a lurker has come out of the darkness!

You have been on FF since June 2014

You spent 5 days on the first thread you subscribed to and then HOPPED to another thread

You spent 15 days on that thread and then HOPPED to another thread

You spent 24 days on that thread and then HOPPED to another thread

You spent 1 day on that thread and then HOPPED to another thread

You spent 12 days on that thread and then HOPPED to another thread

You spent 16 days on that thread and then HOPPED to another thread

You spent 1 day on that thread and then HOPPED to another thread

You spent 1 day on that thread and then HOPPED to another thread

You spent 2 days on that thread and then HOPPED to another thread

You spent 1 day on that thread and then HOPPED to another thread

You are the CLASSIC THREAD HOPPER searching for the HOLY GRAIL - how long will you stay on here?

15 YEARS OF PASR ON FOREX FACTORY!

#2,325
Feb 18, 2018 10:59am Feb 18, 2018 10:59am

Hugo55
| Joined Jun 2014 | Status: Trader | 165 Posts

Quoting strat

Disliked

PASR {quote} So, a lurker has come out of the darkness! You have been on FF since June 2014 You spent 5 days on the first thread you subscribed to and then HOPPED to another thread You spent 15 days on that thread and then HOPPED to another thread You spent 24 days on that thread and then HOPPED to another thread You spent 1 day on that thread and then HOPPED to another thread You spent 12 days on that thread and then HOPPED to another thread You spent 16 days on that thread and then HOPPED to another thread You spent 1 day on that thread and then...

Ignored

As long as it makes sense, thank you

#2,326
Edited 11:19am Feb 18, 2018 11:03am | Edited 11:19am

Strat
Joined Feb 2009 | Status: 15 YEAR PASR THREAD Senior Member | 12,379 Posts

EURUSD M5

Quoting darko2010

Disliked

{quote} Thanks Strat, I bought TITZ and will start reading later today Had I entered at 4, I would have probably protected my profits by taking 50% after 1 and a stop at the dotted line for the rest. I would have taken the rest of the profit on 2 even though the real pushback materialized 5 bars later. Just trying to be honest on how I would have managed the trade, idealizing trades with hindsight only flatters ego but does nothing for improvement. {image}

Ignored

There is no need to buy TITZ - the pdf is on here!

This is OK to start with as you NEED to satisfy your Little People and SHOW them you have profit.

EDIT: I forgot to mention where my initial SL would have been. Given PA before the entry on 4, I would have placed it a few pips above the former support (now resistance)

The problem with that is the Stop Loss of 20 to 25 pips - you can reduce that WHEN you have done everything in my previous reply

No, Inspector Clouseau, you cannot be honest in hindsight - your Little People make sure of that! The ONLY way to be honest is to PRACTICE LIVE at the MOVING HARD RIGHT EDGE.

15 YEARS OF PASR ON FOREX FACTORY!

#2,327
Feb 18, 2018 11:11am Feb 18, 2018 11:11am

darko2010
| Joined Apr 2010 | Status: Trader | 1,025 Posts

Quoting strat

Disliked

EURUSD M5 {quote} There is no need to buy TITZ - the pdf is on here! This is OK to start with as you NEED to satisfy your Little People and SHOW them you have profit. No, Inspector Clouseau, you cannot be honest in hindsight - your Little People make sure of that! The ONLY way to be honest is to PRACTICE LIVE at the MOVING HARD RIGHT EDGE.

Ignored

Clouseau... Dou you realize zat I now have to zpeak like zat because of you? I suspect you are related to Cato, always keeping me on my toes

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#2,328
Feb 18, 2018 11:24am Feb 18, 2018 11:24am

Strat
Joined Feb 2009 | Status: 15 YEAR PASR THREAD Senior Member | 12,379 Posts

Quoting darko2010

Disliked

{quote} Clouseau... Dou you realize zat I now have to zpeak like zat because of you? I suspect you are related to Cato, always keeping me on my toes https://www.youtube.com/watch?v=IA8QrOAghZ0

Ignored

Ha Ha! Nice try! You can't speak like that because you are already French. Inspector Clouseau was English trying to be French.

15 YEARS OF PASR ON FOREX FACTORY!