Strat's PASR Long Term, Stress Free Trading

Quoting samsonwebdes

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{quote} That was a good entry point and nice price action at the support and shadow. Bit lucky though. The UK news if it had come out red, would have given you a different result! Always be aware of the news events and personally I don't trade an hour either side on small time frames. 50/50 gable around news.

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Quoting brian661

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{quote} Update on trade Got out at the break of support, -177pips Was my analysis incorrect? Or just impossible to get 100% correct? {image}

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Quoting 2hpriest

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A possible trade on EURGBP. Big Boss. We have a likely bullish hammer-like candle forming - this will be confirmed at the close of markets 2moro. This bond like hammer is presently at a confluence of the intersection of a major Resistance and a Trend line. The Strat Shadow is also supporting this upward bias. Even if it closes above the Resistance level there is another hurdle at the 0.900ish area to contend with. {image} Boss. Consolidating on last week bullish upward drive Strat Shadow acting as support on this week yet to close bullish candle...

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Quoting TerryDawe

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{quote} I have taken this pair off my list as it is one of the worst ones to even look at, let alone trade. So many other good pairs out there, get rid of this one......

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Quoting Rub

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Seeing it's effectively the end of another 3 months I will be doing some analysis on my trading. Before I depart though, I am pleased to post my profit in pips for the last six months, note the last couple have been positive. Even though there have been a couple of really, really boneheaded moved this month I'm pleased with how this is going. More to follow.... {image}

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Quoting BeyondTheSea

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{quote} Hey Rub, really good trading. Keep it up! I measure expectancy which I find really useful based on cash rather than pips. This is better for me because I use multi entries and keeps it real for me. Knowing my averages gives me confidence in my plan and keeps my ego in check. When I’m ready to scale up I know my numbers. It’s all about the risk not the reward.

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Quoting Rub

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{quote} ....I'm only trading at a risk of $50 a trade at the moment, or mostly so, and my mistakes I made this month screw up my stats as recorded by metatrader. My plan is currently to run 3 months in a row positive pips at $50/trade, then scale up over the next year.....!

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Quoting Suran

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{quote} Hi Rub, Nice work, keep it up. I have question though..if you don't mind. Your account balance 697 ATM. And you take $50 risk per trade which means more than 7% of the account in a single trade. Are you comfortable with taking that much risk? I know it all depends with each person. But still general rule of thumb is not to take more than 2 or 3 percent of the account. @ Strat and seniors, Is this something you would advice us to do for the long term? Suranga

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Quoting Suran

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{quote} Hi Rub, Nice work, keep it up. I have question though..if you don't mind. Your account balance 697 ATM. And you take $50 risk per trade which means more than 7% of the account in a single trade. Are you comfortable with taking that much risk? I know it all depends with each person. But still general rule of thumb is not to take more than 2 or 3 percent of the account. @ Strat and seniors, Is this something you would advice us to do for the long term? Suranga

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Quoting Rufus

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{quote} Hi Suranga 7% is excessive in my opinion. But what exactly Rub is doing, we don't know. He might have 100,000 stashed away and trading a small percentage of that. As for me. My trades run real close to 1% of equity at risk per position. When multiple positions are going, careful not to have risk doubled up in similar moving currencies. Risk is a very relative thing. Sometimes there is a dollar amount (regardless of the percent risk) that when you cross it your little people start screaming at you. You could have a $100,000 account and be squirming in your chair with 1000 at risk, 1%. Anyway some food for thought.

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Quoting Rub

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{quote} I'm working on $50 is an amount I am ok with losing,................... but the why is more because I'm inclined to trust the stability of my bank to hold the majority of my cash vs. how often I read about dodgy forex brokers. While I don't think my broker is too bad, why take the risk?

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Quoting MikuSS

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Thanks for sharing you Money Management, Rub. Now for some end-of-month/week analysis. NZDJPY BB: Support reached. {image} B: Support reached as well, forming a 'not-so-nice' Hammer. {image} Worker: BUEB/DBLHC formed. {image} Could enter a counter-trend trade onto next resistance ( around 20ema of Strat Shadow) for some quick pips.

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Quoting Suran

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{quote} Hi Mikus, I dont treat it as a hammer(nice or not so nice) in Boss chart,not in my books. Hammer needs a lower shadow at least two times the length of the body(in theory).And it closed at the lower half of its range.not good enough for me. Next, I will not trade with all that negative Strat shadow in Big Boss,Boss and even in the worker. May be its just me,I do not like counter trend. Else ,what am I missing? Cheers

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Quoting MikuSS

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EURNZD Big Boss, Boss and Worker in Harmony {image} {image} {image} Now, we wait for PASR.

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Quoting strat

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NZDUSD {quote} 5 months of selling - why would you even THINK about buying? Plus there was no PASR to go long! And, YES, it is IMPOSSIBLE to be 100% correct! {image}

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Quoting brian661

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CADJPY Monthly : Down trend, last month shown resistance on strat shadow Weekly : Down trend, closed outside the WCC (Last week candle is not close clearly outside WCC, so I did not redraw WCC) Daily : Down trend, but a little bit far from strat shadow Plan : If I enter directly, the risk reward ratio is just around 1:1, will look for a retest on resistance then enter the trend {image} {image} {image}

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Quoting Rub

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Here we go warts and all. Way to many trades that break even. Slowly made my way up to nearly doubling the account, then went dumb and risked all my profits in two trades. Now the last couple of trades are climbing back up again. So I'm probably taking trades I shouldn't and moving break even to try to protect myself, or moving to break even too soon. Also quite likely I'm not clicking with 5 minute stuff especially at the end of my day. And I suppose it helps my stats that the market has been trending nicely the last couple of months. Stuff to...

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