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Strat's PASR Long Term, Stress Free Trading

  • #4,881
  • May 16, 2018 1:18am May 16, 2018 1:18am
Quoting jas0992
After going through the PDF, would you advise me to start going through this thread or your old one which you have linked to in the first post? Thank you very much. Cheers!
Welcome!
I would recommend starting with the "old" thread (so not this one), where all has begun. Don't get frustrated because of the number of pages. Take your time.
Regarding M5, in this thread there is a ongoing discussion.
  • #4,882
  • May 16, 2018 1:35am May 16, 2018 1:35am
Quoting jas0992
Hi strat. I have glanced over the first few posts. And this seems interesting. Looks like its a whole package to learn PASR and I think once learned, it can be applied to any instrument in any market. I have downloaded the PDF you attached in the first post and I'm going to start going through that. I just wanted to appreciate what you are doing. And ask a couple of questions before I start learning from you. Just by quickly glancing, I see that monthly and weekly charts are analyzed at while trades are taken from daily charts. This makes me think...
Hello and welcome !
I think my colleagues have already answered well.
Personally I began to read Many times the PDF, and its old site. Then read the messages of STRAT and elders. (by clicking on their name you can directly access the images / posts they posted).
In short, read as much as possible the old and the new Topic so that "your brain moves."
I also strongly advise you not to multi thread. If not your brain, will never be 100% localized in learning here.
Read Learn just look at this thread, to understand the methodology of Strat.
Regarding the M5 strategy here are the posts to read
https://www.forexfactory.com/showthr...6#post10778936
Also see the pictures of Strat and Yomi (fxrabbi) and other old!
Happy reading, good luck and long live freedom!
  • #4,883
  • May 16, 2018 6:46am May 16, 2018 6:46am
EURJPY M5 PASR Trend Trading:


LIVE at the MOVING HARD RIGHT EDGE.........where the Strat Shadow is showing "SMOOTH SAW TOOTH BLADE STRUCTURE".

Done for today, Minimum daily target met.




Happy Trading,
Yomi.
Attached Image (click to enlarge)
Click to Enlarge Name: EURJPYM5.png Size: 31 KB
Time always comes before price
  • #4,884
  • May 16, 2018 7:08am May 16, 2018 7:08am
EURAUD M5 PASR Trend Trading
Attached Image (click to enlarge)
Click to Enlarge Name: EURAUD-5-minutes.png Size: 22 KB
  • #4,885
  • May 16, 2018 7:41am May 16, 2018 7:41am
I'm first short on the candle (I thought it was a Shooting Star?)
My stop was just above the wick (too small?) SL hit.

But later I re-shorted seeing this engulfing, and interesting ratio.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPY.jpg Size: 142 KB


Yomi, your daily target, do you measure it in number of pips? %?
  • #4,886
  • May 16, 2018 7:47am May 16, 2018 7:47am
Quoting fleurdelys
I'm first short on the candle (I thought it was a Shooting Star?) My stop was just above the wick (too small?) SL hit. But later I re-shorted seeing this engulfing, and interesting ratio. {image} Yomi, your daily target, do you measure it in number of pips? %?
Yes too tight - your dotted moving average would have been a better point for your SL there.

There were pips on the EUR/USD today but I was busy so no trades. Euro is getting hammered!
  • #4,887
  • May 16, 2018 7:49am May 16, 2018 7:49am
Quoting fleurdelys
I'm first short on the candle (I thought it was a Shooting Star?) My stop was just above the wick (too small?) SL hit. But later I re-shorted seeing this engulfing, and interesting ratio. {image} Yomi, your daily target, do you measure it in number of pips? %?
Weldone, our Lady of the house. Like your entries, perfect.

Yes, 100pips per day.


Happy Trading,
Yomi.
Time always comes before price
  • #4,888
  • May 16, 2018 7:53am May 16, 2018 7:53am
Quoting fleurdelys
I'm first short on the candle (I thought it was a Shooting Star?) My stop was just above the wick (too small?) SL hit. But later I re-shorted seeing this engulfing, and interesting ratio. {image} Yomi, your daily target, do you measure it in number of pips? %?
Nice trading Fleurdelys

Yes too small a stop on first position. In my opinion. I like the previous swing high for mine, but that 200 MA was right there too. I try to find a place to tuck my stop in that makes it a little more difficult for PA to take it out. Also on sell orders you need to add the size of the spread to the stop. The attached chart shows the "ASK" line . this is what takes the stop on a sell order.

But super trading. Now What went through your head on the second trade? Was it revenge or a signal for a new position?

Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYM5.png Size: 102 KB
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #4,889
  • Edited 8:51am May 16, 2018 8:23am | Edited 8:51am
I just couldn't drag my tired butt out of bed at 4:30 this morning, so missed a couple opportunities. My dog doesn't even get up at this time, still snoring behind me.

Was thinking about different types of mental pressure, if there are types. In construction business, by the time we get on the job to install cabinets and trim the schedule is already behind. In the last 30 years of running this business I don't think there have been 5 houses that were on "schedule" when I arrive. So the contractors and homeowners are pushing to makeup the schedule at the tail end of the job. Pressure, pressure, pressure is the routine. It now has no affect on me. The job will get done when it gets done, we do what is required to complete the task in a timely manner if they don't like it they can find somebody else to do it; they never do.

I guess doing this for 30 years you can learn to not let the pressure take it's toll.

When I first started looking at charts it was all I could do to look away from them. But given time and a system to trade, the charts too are becoming less mentally pressurized. The chart itself has no pressure, it's what we put in the chart.

I guess the point is. We need to find the balance of timeframe and risk to keep the mental pressure and the "little people" at bay. Hyperventilating over every point doesn't move the market. As a matter of fact it is bad for your health.

As Yomi closes out posts

Happy Trading....
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #4,890
  • May 16, 2018 8:28am May 16, 2018 8:28am
Quoting Rufus
{quote} Nice trading Fleurdelys Yes too small a stop on first position. In my opinion. I like the previous swing high for mine, but that 200 MA was right there too. I try to find a place to tuck my stop in that makes it a little more difficult for PA to take it out. Also on sell orders you need to add the size of the spread to the stop. The attached chart shows the "ASK" line . this is what takes the stop on a sell order. But super trading. Now What went through your head on the second trade? Was it revenge or a signal for a new position? {image}...
Never revenge when I lose, this is part of life lol I will learn to tame my losses!

So I re-short this pair seeing this engulfing + I thought before my 1st SL was too small + I saw the other pairs GPB will go down

I am far from the 100 pips everyday me!
  • #4,891
  • May 16, 2018 8:36am May 16, 2018 8:36am
Quoting fleurdelys
{quote} Never revenge when I lose, this is part of life lol I will learn to tame my losses! So I re-short this pair seeing this engulfing + I thought before my 1st SL was too small + I saw the other pairs GPB will go down I am far from the 100 pips everyday me!

Don't worry about the 100 pips. Really don't. Your objective first is to trade well. Some people can psychologically set trading goals like this and do fine, others can't. On the "Path Of Learning" we learn more about ourselves then we do about trading. Taming our brain is key, finding what works for us and what doesn't. Trading style isn't "one size fits all".

I hope I'm not too preachy.
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #4,892
  • Edited 9:24am May 16, 2018 8:54am | Edited 9:24am
Quoting fleurdelys
{quote} Never revenge when I lose, this is part of life lol I will learn to tame my losses! So I re-short this pair seeing this engulfing + I thought before my 1st SL was too small + I saw the other pairs GPB will go down I am far from the 100 pips everyday me!
You know I didn't comments about your first trade that went to SL in my original post to you. This is so because, that is the good thing about this system, it allows you to do mistake and get away with it. This is truth because it allows smaller SL, as you have rightly done, the re-entries pay for the first entry/SL, weldone.


Happy Trading,
Yomi.
Time always comes before price
  • #4,893
  • May 16, 2018 10:06am May 16, 2018 10:06am
PASR

Quoting jas0992
Hi strat. I have glanced over the first few posts. And this seems interesting. Looks like its a whole package to learn PASR and I think once learned, it can be applied to any instrument in any market. I have downloaded the PDF you attached in the first post and I'm going to start going through that. I just wanted to appreciate what you are doing. And ask a couple of questions before I start learning from you. Just by quickly glancing, I see that monthly and weekly charts are analyzed at while trades are taken from daily charts. This makes me think...
Welcome! You have had some excellent comments from others on here so pay close attention to them.

To specifically address your questions:

PDF
Although a good summary, this PDF was not compiled by me. A much better summary, as detailed in my first post is The Path from my now deleted private website.

https://web.archive.org/web/20120603...rning:overview

But again, this is just a summary and if you really want an apprenticeship in learning how to trade you MUST start on The Path with my "old" original thread and THEN progress to this thread.

What's the average time you stay in the trade for?

This is akin to asking "how long is a piece of string?" As Rufus commented, it is "relative". We stay in a trade with a given strategy as long as the Market allows us. For example, using EURUSD (18th out of 28 on my Volatility list) and one position:

A Basic PASR average trade could be 16 days and 500+ pips

A Swing PASR average trade could be 58 days and 1,000+ pips

A Trend PASR average trade could be 220 days and 3,200+ pips

An M5 PASR Trend Trade average could be 2 to 3 hours and 50+ pips

Remember, this is just ONE POSITION. Experienced PASR traders ADD ON with MULTIPLE POSITIONS

I prefer remaining in trades for short period of time (max a couple of days)

Why do you say this? You are new to Forex and Forex Factory and from your 3 posts, seem a very logical, down to earth and common sense guy with no history on here of posting on any trading system thread so what has twisted your mind to make you say this?

After going through the PDF, would you advise me to start going through this thread or your old one which you have linked to in the first post?

I ""thought"" it was "clear" from this Section (copied below) on Post 1 of my "old" original thread what to do next. Help me understand what I need to do/add on the Post 1 of each thread to make it "clear" that you READ, LEARN and UNDERSTAND each Post starting from Post 1 on each thread.

This whole thread IS The Path of Learning.

The Path of Learning takes you through the following progression:

The very first thing we have to do is learn basic PASR. This involves learning and UNDERSTANDING exactly what PASR is.

We then have to learn how to IDENTIFY accurate SR levels to SUIT our particular trading style.

We then have to learn the basic price reversal candles – Hammer, Shooting Star, BUOB, BUEB, BEOB and BEEB, nothing else. At this point we have to learn the classical definitions of these candles. Do NOT think about or study other candles or patterns as they are NOT reliable and/or consistent for PASR trading.

We then put this all together to do SIMPLE yet very profitable trading:

Trade from support to 1st resistance and resistance to 1st support.

At this stage, you would “paper” trade to exercise the technical content i.e., make sure your understanding of basic PASR is correct.

Doing this will bring up many doubts on SR levels and candle types etc. This is part of learning and a stage where every doubt and question must be resolved. How long this takes is up to the individual but there is NO time constraint – you learn within your own time frame.

When you have a very high success rate of doing this, you move in to REAL trading. You open an account with REAL money and trade the smallest lot size your broker offers.

This will OPEN a whole new world of “little men in your head”, “the man in the mirror” and “gremlins and demons” in you. You will learn the importance of a believed, trusted and accepted PLAN. You will go through grief and pain UNTIL you learn to CONTROL your emotions.

Again, how long it takes to master and control your emotions is up to the individual. You will continue to trade until you get to the point that you feel you can “walk on water”. Despite anything written on here, you will go through this emotion and do it. After you have been eaten up, chewed and spat out in little pieces you will learn that you are NEVER in CONTROL of your emotions and you ALWAYS have to be ON GUARD.

As you continue to trade in this manner, things that were difficult to see will become clearer and more obvious.

We will move from trading classical candle shapes, sizes and patterns to “SEEING” who and what is behind the candles, groups of candles, waves of candles etc.

We will learn to recognize market behaviour by eyeballing a chart rather than in depth analysis of a chart.

In short, we will be developing our “feel” for the market. This is a very, very personal attribute. Some get it early, for some it seems to take forever while for others, they NEVER get it.

At this point, we move into other strategies and techniques.
15 YEARS OF PASR ON FOREX FACTORY!
  • #4,894
  • May 16, 2018 10:17am May 16, 2018 10:17am
EURCAD M5 PASR Trend Trading:

Bonus trade........................




Happy Trading,
Yomi.
Attached Image (click to enlarge)
Click to Enlarge Name: EURCADM5.png Size: 30 KB
Time always comes before price
  • #4,895
  • May 16, 2018 10:18am May 16, 2018 10:18am
EURAUD M5 PASR Trend Trading 89+ pips

Quoting darko2010
EURAUD M5 PASR Trend Trading {image}
Still trending, darko, did you get back in?
15 YEARS OF PASR ON FOREX FACTORY!
  • #4,896
  • May 16, 2018 10:19am May 16, 2018 10:19am
Quoting fxrabbi
EURCAD M5 PASR Trend Trading: Bonus trade........................ Happy Trading, Yomi. {image}
Thanks for the inspiration.
It's in fear when people show what they truly value.
  • #4,897
  • May 16, 2018 10:24am May 16, 2018 10:24am
GBPJPY M5 PASR Trend Trading 55+ pips

Quoting fleurdelys
I'm first short on the candle (I thought it was a Shooting Star?) My stop was just above the wick (too small?) SL hit. But later I re-shorted seeing this engulfing, and interesting ratio. {image} Yomi, your daily target, do you measure it in number of pips? %?
But your Shooting Star trade was BEFORE London Open!
15 YEARS OF PASR ON FOREX FACTORY!
  • #4,898
  • May 16, 2018 10:39am May 16, 2018 10:39am
Quoting strat
EURAUD M5 PASR Trend Trading 89+ pips {quote} Still trending, darko, did you get back in?
No, I thought it would be prudent to stay out as the worker exceeded its ATR at around the level I got out. I should have been more audacious, I have been waiting for this one since last week
  • #4,899
  • May 16, 2018 10:54am May 16, 2018 10:54am
Quoting strat
GBPJPY M5 PASR Trend Trading 55+ pips {quote} But your Shooting Star trade was BEFORE London Open!
London opening is at 8:00 GMT + 1?
The time of my broker is GMT
I opened my first trade around 7:40 GMT so 8:40 GMT + 1
I think after the opening of London?
Attached Image (click to enlarge)
Click to Enlarge Name: 11.jpg Size: 169 KB

Or I mix everything !!!!!!! And the time of my country is GMT +1
  • #4,900
  • May 16, 2018 11:00am May 16, 2018 11:00am
Quoting fleurdelys
{quote} London opening is at 8:00 GMT + 1? The time of my broker is GMT I opened my first trade around 7:40 GMT so 8:40 GMT + 1 I think after the opening of London? {image} Or I mix everything !!!!!!! And the time of my country is GMT +1
I suggest you start trading only at 9am France time, anything before is messed up most days
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