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Strat's PASR Long Term, Stress Free Trading

  • #3,501
  • Apr 4, 2018 3:12pm Apr 4, 2018 3:12pm
Quoting darko2010
{quote} Aaaaaaaand, my first add-on, ever... {image}
Closed at around WCC, another +50-ish pips
  • #3,502
  • Apr 4, 2018 3:23pm Apr 4, 2018 3:23pm
And something not trading related.

This site has some extremely nice reading material on a daily basis

https://www.project-syndicate.org/archive
  • #3,503
  • Apr 4, 2018 4:02pm Apr 4, 2018 4:02pm
Quoting darko2010
{quote} I don't want to confuse any reader here but I know you are too clever to have not grasped what my equation brings into consideration: the element of time and how to make the most of it.
I have posted several times that M5 pips per hour at the screen is way lower than Worker pips per hour at the screen. However, when there is nothing else to do and I can enter a trade with a single digit stop loss to generate a double/triple digit return, why not do it? I only spend 2 hours, maximum of 3 hours, if in a really strong trend, so that is less than most spend on a daily commute to and from their work. Plus I ENJOY it and keeps the trouble and strife away from me.
15 YEARS OF PASR ON FOREX FACTORY!
  • #3,504
  • Apr 4, 2018 4:41pm Apr 4, 2018 4:41pm
Quoting strat
{quote} I have posted several times that M5 pips per hour at the screen is way lower than Worker pips per hour at the screen. However, when there is nothing else to do and I can enter a trade with a single digit stop loss to generate a double/triple digit return, why not do it? I only spend 2 hours, maximum of 3 hours, if in a really strong trend, so that is less than most spend on a daily commute to and from their work. Plus I ENJOY it and keeps the trouble and strife away from me.
I am afraid you misunderstood the point I was trying to make.

I am not advocating one TF over another, just expressing my own financial utiility curve.

As for the superiority of the worker over M5, I think it all depends on your capital, your financial needs from trading and the time that you want to allocate to trading.

Ideally, I would like to emulate the way you trade on both short and long TFs but I realize I am merely starting to understand what I am doing.
  • #3,505
  • Apr 5, 2018 2:21am Apr 5, 2018 2:21am
Quoting strat
{quote} Thanks for posting this, Rub. We know you didn't have to post it and it takes a lot to wash your dirty laundry in public but you will be better for it. In addition to bistolis's comments................. 2 things to pay attention: your drawdown is too much the avg loss is twice as much as the avg win You ARE improving from when you first joined us. All these problems................... Too many trades Inverse Risk : Reward (Money Management) Excessive draw down (incorrect stop placement, poor trade management) Have nothing to do with PASR...
Thanks for the tips strat, I think it's a good step that I've only taken a couple of trades in the last month. The 5 minute trade I posted, Aud/usd (still open, stop at BE) short and USD/cad long (stopped out). The drawdown on the account is something I'm aware of but not to worried about as it doesn't tell the whole story.
I'm risking $25 a trade, OR up to $50 if I can't meet the minimum position size, not a % of the $500. This account is money I can afford to lose, but when I get to the point of trading a grown up trader account (instead of a baby one!) my plan is to keep only enough for say 10 trades in the trading account and the remainder in my bank.
I will admit to being a little frustrated at the moment, seeing all the posts on the 5 minute charts when people are killing it. Where I am it's possible for me to trade the first 3 or 4 hours of London, but I'm not really willing to give up my evenings to sit in front of the one eyed monster. Although I have noticed it seems to be about 1 1/2 hours in the trend is established and there's an entry, but that's hindsight. Lot harder to do in real time!

Re: My post of long GBP/JPY I've satisfied my horrible little caveman by going long on a demo account ( and getting stopped out. Twice!). I'm waiting for shorts on all of the yen pairs, that last big down candle on BB has me leery of longs.

Honestly though, there's been thin pickings recently on worker charts, not much has been trending the last couple of weeks. I watch about 15 pairs, and most of them are in a WCC. AUD/NZD, GBP/EUR, USD/JPY, and USD/CAD and the only ones I see outside one as of this post, even then some may still close back in by the end of the week. There are some at the edges of a WCC where there might be price action in line with the previous trend. Nothing I'm game to jump on though.
  • #3,506
  • Apr 5, 2018 3:03am Apr 5, 2018 3:03am
This thread reminds me of geek clubs (some of which I was part of when I was a teenager).

The preparatory work required to even understand the conversation is huge, the mental concentration required to trade without indicators is daunting, and there are not even girls in the club!

Yet, those were the most enlightening conversations I ever had, the most interesting people I have ever met and some of them are still my friends after decades.

Well, it seems life is really a circle after all
  • #3,507
  • Edited 3:40am Apr 5, 2018 3:16am | Edited 3:40am
BASIC PASR - GBPJPY 5M

I hardly ever do this, but those who look at higher TFs will understand why I felt it could be an interesting entry.
Attached Image (click to enlarge)
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  • #3,508
  • Apr 5, 2018 3:39am Apr 5, 2018 3:39am
Quoting darko2010
BASIC PASR - GBPJPY 5M I hardly ever do this, but those who look at higher TFs will understand why I felt it could be an interesting entry. {image}
I see, at the top of the WCC, and where price rejected before. Could be a good R:R if it goes all the way back down! Although I guess you took profit already, looking at your chart.
  • #3,509
  • Apr 5, 2018 3:52am Apr 5, 2018 3:52am
Quoting Rub
{quote} I see, at the top of the WCC, and where price rejected before. Could be a good R:R if it goes all the way back down! Although I guess you took profit already, looking at your chart.
I took 27 pips for a potential SL of 10, I didn't see intent to push lower after the UK PMI, so I took what the market gave me.
Not a great trade, but a good exercice to understand context, timing and test what method suits me best (basic or trend PASR)

I now better understand Trogger's approach which requires patience, determination and small size entries as you don't know when the price will turn even though you have a sense of levels it will not exceed. Could be very painful though if things don't go as planned
  • #3,510
  • Apr 5, 2018 4:03am Apr 5, 2018 4:03am
EURCAD M5 PASR

I took this trade

Attached Image (click to enlarge)
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Trying now to analyse

Entry point :
- doji
- support becoming resistance (previous swing low)
- ema20 resistance

SL :
- previous LH

TP : 2R

First bar ok
Then failed to break support
new go to the support
failed again to break support + BUEB

This confirmed support + BUEB may have been a reason to exit near BE, do you agree ?
Or was this setup stupid ?
  • #3,511
  • Apr 5, 2018 4:14am Apr 5, 2018 4:14am
Quoting Bestof27
EURCAD M5 PASR I took this trade {image} Trying now to analyse Entry point : - doji - support becoming resistance (previous swing low) - ema20 resistance SL : - previous LH TP : 2R First bar ok Then failed to break support new go to the support failed again to break support + BUEB This confirmed support + BUEB may have been a reason to exit near BE, do you agree ? Or was this setup stupid ?
I saw that same potential trade but didn't take it, I cannot explain why, it just felt wrong.
Your entry was textbook I believe, no problem there, but you just experienced a Dr Joe situation.
I would have exited on the BUEB 4 bars after your entry but that's because of my own risk aversion and where we already were in the overall down movement, I think the correct SL was above the high of the last swing at around 1.5660.

Just the way I see things, Strat may be of greater help
  • #3,512
  • Apr 5, 2018 4:33am Apr 5, 2018 4:33am
Quoting darko2010
{quote} I saw that same potential trade but didn't take it, I cannot explain why, it just felt wrong. Your entry was textbook I believe, no problem there, but you just experienced a Dr Joe situation. I would have exited on the BUEB 4 bars after your entry but that's because of my own risk aversion and where we already were in the overall down movement, I think the correct SL was above the high of the last swing at around 1.5660. Just the way I see things, Strat may be of greater help
Hi darko

Thank you for giving your opinion !

Your thinking is in line with my view about this trade

Let see what Strat says ...
  • #3,513
  • Apr 5, 2018 5:11am Apr 5, 2018 5:11am
Quoting Bestof27
EURCAD M5 PASR I took this trade {image} Trying now to analyse Entry point : - doji - support becoming resistance (previous swing low) - ema20 resistance SL : - previous LH TP : 2R First bar ok Then failed to break support new go to the support failed again to break support + BUEB This confirmed support + BUEB may have been a reason to exit near BE, do you agree ? Or was this setup stupid ?
Hi,

Sorry to coming out of nowhere and not taking part in previous discussion
I believe I know the reason, there was another support below on H4
Attached Image (click to enlarge)
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  • #3,514
  • Apr 5, 2018 5:35am Apr 5, 2018 5:35am
Quoting Szpons
{quote} Hi, Sorry to coming out of nowhere and not taking part in previous discussion I believe I know the reason, there was another support below on H4 {image}
I had this level on my chart.
This is the level that failed to break
  • #3,515
  • Apr 5, 2018 6:38am Apr 5, 2018 6:38am
Quoting darko2010
{quote} I saw that same potential trade but didn't take it, I cannot explain why, it just felt wrong. Your entry was textbook I believe, no problem there, but you just experienced a Dr Joe situation. I would have exited on the BUEB 4 bars after your entry but that's because of my own risk aversion and where we already were in the overall down movement, I think the correct SL was above the high of the last swing at around 1.5660. Just the way I see things, Strat may be of greater help
Where did your USDCAD trade go?
  • #3,516
  • Apr 5, 2018 6:56am Apr 5, 2018 6:56am
it's 4:43 am on the west coast. I have coffee in hand and this is what I see for charts. No saw tooth. so looks like a morning to sip coffee and read or observe.

Attached Image (click to enlarge)
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It's 106 miles to Chicago, we got a full tank of gas, half a pack of cigarettes, it's dark... and we're wearing sunglasses.
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #3,517
  • Apr 5, 2018 6:58am Apr 5, 2018 6:58am
Quoting DexterMorgan
{quote} Where did your USDCAD trade go?
It's still on, but I realize I am not helping others by putting trades that don't properly apply Strat's strategy on Trend PASR.
I'll post it if it helps teach something to others, otherwise I see no merit
  • #3,518
  • Apr 5, 2018 7:01am Apr 5, 2018 7:01am
Quoting Rufus
it's 4:43 am on the west coast. I have coffee in hand and this is what I see for charts. No saw tooth. so looks like a morning to sip coffee and read or observe. {image} It's 106 miles to Chicago, we got a full tank of gas, half a pack of cigarettes, it's dark... and we're wearing sunglasses.
May I suggest you keep an eye on GBPJPY?
  • #3,519
  • Apr 5, 2018 7:05am Apr 5, 2018 7:05am
Quoting darko2010
{quote} May I suggest you keep an eye on GBPJPY?

Looks like GBP is starting to do a little movement. I will watch. See if something develops before I have to head out.
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #3,520
  • Apr 5, 2018 7:08am Apr 5, 2018 7:08am
Quoting Rufus
{quote} Looks like GBP is starting to do a little movement. I will watch. See if something develops before I have to head out.
Already entered based on H1 BEEB
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