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Strat's PASR Long Term, Stress Free Trading

  • #5,721
  • Edited Jul 4, 2018 12:08am Jul 3, 2018 10:09pm | Edited Jul 4, 2018 12:08am
Quoting strat
{quote} In another post, I wrote: "'Tell me and I forget, Teach me and I may remember, Involve me and I learn." It seems you don't want to be involved in learning with your fellow students. Could it be that you ""think"" you are better than them?
Good to see you posting strat. Enjoying the world cup?
  • #5,722
  • Jul 4, 2018 6:43am Jul 4, 2018 6:43am
Markets are quiet. Thread is quiet. England is recovering from their celebrating. US is gearing up for 4th of July festivities. Good time for some reflective thought.



Had an interesting thing happen the other day that taught me a lot about trading psychology. The event requires a little build up.


I chart from an overseas broker and trade with a US broker. This is so there is access to NY close charts. So there is a semi constant juggling act to keep things in order. S/R on NY close charts corresponding with the S/R lines on the other. Then if I have a trade running on the US charts, it is marked out on the other charts. It works for me now....So I thought.


Now comes the "Incident"


I don't know if this happened do to a windows update, loss of power, or just a stupid glitch. But I lost all of my NY close charts. 16 currency pairs for the daily trading and 10 or so for the 5m. All the S/R, Strat Shadow, entries and exits laid out, all gone. Even tried to recover it with chatting with the brokerage gurus. No luck.


So sitting down to the arduous task of setting up charts. The first step was to get all the currency pairs loaded with the Strat shadow on the daily charts. So one by one, open a chart, put on the Strat Shadow template, convert to daily, then on to the next. I probably had coffee in hand, because was also leaned back in my chair and was just clicking buttons. Figured I'd put the S/R on once all the charts were set up.


Then I came across a pair that needed to be shorted. I couldn't read which pair so grabbing the reading glasses saw it was the AUDUSD. BUT I WAS LONG already. My first temptation was to leave the trade. Then thought "no that's stupid". Capital preservation is #1 rule. The next thing that flew through my mind is what Strat has on every chart he posts. IF TRADE IS WRONG - GET OUT. I took the profit.



Now the psychology. Would I have seen the short if the trade was laid out on the chart? I doubt it. Probably would have held it to run its course.


It was a very vivid incident to me. Our bias no matter how subtle or insignificant can never enter into our observation of the chart. Somehow every evening when sitting down to the days closing bar, I need to see the chart as if it is the first time seeing it. With a position in play, this time a long, the tendency is to see only longs. Or see things to only support your thinking that the long is the right move.


One of my favorite quotes by Anais Nin



“We don't see things as they are, we see them as we are.”

Fresh eyes on the chart.

For what it's worth for you guys. The incident taught me a lot about my brain cell.

On a side note. I know nothing about Soccer, but I felt the intensity through social media of England advancing to the quarter finals today. I was constantly checking in, I could tell that there was a lot of stress eating and alcohol consumption. Congrats to England. I was pulling for you. Maybe soccer will find its way to my TV when England plays again.

Take care all

Rufus
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #5,723
  • Jul 4, 2018 7:09am Jul 4, 2018 7:09am
Quoting Rufus
.......Then I came across a pair that needed to be shorted. I couldn't read which pair so grabbing the reading glasses saw it was the AUDUSD. BUT I WAS LONG already. My first temptation was to leave the trade. Then thought "no that's stupid". Capital preservation is #1 rule........

Hi Rufus,

Nice lesson you learnt on psychology. recently something similar happened to me. These days I am not much into trading ,cos I am reading. Even though I am in front of the screen I am not even opening up the charts sometimes. Because I feel the best thing to do is to go through The Path first.Finish it...

So anyway couple of days ago I just opened up my charts just to have a look. Right after I open my platform I saw below trade.It didn't search it.I just saw it. Saw the saw tooth. beautiful trade I thought.I was very confident its winner. But I didn't trade it.Cos I wasn't in a trading mood. And also thought its not good to jump in right after opening up the chart. ..

So what I did do is mark it up with a arrow and left,closed the charts and go back to my reading. And then some time after I saw it went my way. Good for confidence. This is what happens when we get more screen time and experience right?.
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Focus, Patience, Discipline, Determination and Perseverance
  • #5,724
  • Jul 4, 2018 8:08am Jul 4, 2018 8:08am
Quoting Rub
{quote} Good to see you posting strat. Enjoying the world cup?
Yes, Rub, I have watched every single game.
15 YEARS OF PASR ON FOREX FACTORY!
  • #5,725
  • Jul 4, 2018 8:20am Jul 4, 2018 8:20am
Trading Psychology

Quoting Rufus
Markets are quiet. Thread is quiet. England is recovering from their celebrating. US is gearing up for 4th of July festivities. Good time for some reflective thought. Had an interesting thing happen the other day that taught me a lot about trading psychology. The event requires a little build up. I chart from an overseas broker and trade with a US broker. This is so there is access to NY close charts. So there is a semi constant juggling act to keep things in order. S/R on NY close charts corresponding with the S/R lines on the other. Then if I...
Thanks for posting this Rufus.

You have learned some very important trading psychology lessons, well done.

Then thought "no that's stupid". Capital preservation is #1 rule. The next thing that flew through my mind is what Strat has on every chart he posts. IF TRADE IS WRONG - GET OUT. I took the profit.

Our bias no matter how subtle or insignificant can never enter into our observation of the chart

I need to see the chart as if it is the first time seeing it

This is a big step in you finding your ""edge"", Rufus. Keep focusing on you and your trading psychology and let PASR do its ""thing"" and you will be home and dry!

Maybe soccer will find its way to my TV when England plays again.

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7am for us in PST
15 YEARS OF PASR ON FOREX FACTORY!
  • #5,726
  • Jul 4, 2018 8:24am Jul 4, 2018 8:24am
PASR

Quoting Suran
{quote} Hi Rufus, Nice lesson you learnt on psychology. recently something similar happened to me. These days I am not much into trading ,cos I am reading. Even though I am in front of the screen I am not even opening up the charts sometimes. Because I feel the best thing to do is to go through The Path first.Finish it... So anyway couple of days ago I just opened up my charts just to have a look. Right after I open my platform I saw below trade.It didn't search it.I just saw it. Saw the saw tooth. beautiful trade I thought.I was very confident...
Well done, Suranga!

At some point you will saturate your learning at which time learning stops and confusion starts. Find a nice balance between learning and doing.
15 YEARS OF PASR ON FOREX FACTORY!
  • #5,727
  • Jul 4, 2018 8:29am Jul 4, 2018 8:29am
PASR

Quoting HappyTrend
{quote} One of the things that why i love to trade... is because in here doesnt exist "real competitors"... In the start of my journey like about 3 years and 6 months aprox ago i was (i think) like most new traders with "high ego" "selfish actitude" "bad emotions" etc etc... But in the path, i learn several and important things. In my personal opinion the only person who can tell you if "you are better" is only you looking at the mirror. ---- I think is better if i post something important that i want to ask and not posting every trade because i...
I understand and accept everything you said here but I know from all my years of experience that most have progressed with help from myself and others when posting their trades and charts. Having said that, we are all different and if what you are doing works for you then keep doing more of it.
15 YEARS OF PASR ON FOREX FACTORY!
  • #5,728
  • Jul 4, 2018 8:35am Jul 4, 2018 8:35am
Quoting strat
PASR {quote}... At some point you will saturate your learning at which time learning stops and confusion starts. Find a nice balance between learning and doing.

Yes Strat. I thought about it today (while in my afternoon ..jogging). After couple of hundred pages, my head might be like spinning top. But I get this urge to fill my brain with all the knowledge in The Path before jumping . That's not practical isnit? Definitely will find a balance....

Thanks
Focus, Patience, Discipline, Determination and Perseverance
  • #5,729
  • Jul 4, 2018 9:58am Jul 4, 2018 9:58am
Quoting Suran
{quote} Yes Strat. I thought about it today (while in my afternoon ..jogging). After couple of hundred pages, my head might be like spinning top. But I get this urge to fill my brain with all the knowledge in The Path before jumping . That's not practical isnit? Definitely will find a balance.... Thanks
In university science courses there were labs to show the application of what is being taught. Doing and teaching are among the greatest ways of learning. Unsaturates the brain so we can learn more. I read a lot of technical thought provoking books, good for a limited number of pages. A novel can be read for hours.

The Strat shadow and PASR teaches me more about myself then the charts.. The information on the charts is clear, how I interpret it can be a different story.
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #5,730
  • Jul 4, 2018 12:07pm Jul 4, 2018 12:07pm
Evening traders,

I am also progressing on the Path quite well, still keeping my focus on the psychology of trading and learning to deal with myself while in trades. The last attribute that I successfully practiced was Trading the Plan. Planning the Trade part was much easier than Trading the Plan. Once I got into trades, my emotions wouldn't let me to trade the plan and accept the risk. I just could not completely let the trade play itself out - either I moved the stops, or take profit.

Seeing that I stopped progressing, I pushed myself out of my comfort zone and let couple of trades just play themselves out - if Price Action showed the trade, I took it and accepted the risk of trade not moving in my favor.

Finally feel the progress again. Also I am thinking about paper trading the 5m charts to see if I could manage the fast-paced trading. However, my job and location where I live does not allow me to trade 5m charts as I go to work just before London Open and return home couple of hours into US session.
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  • #5,731
  • Jul 4, 2018 7:51pm Jul 4, 2018 7:51pm
Quoting bignig
so read the threads. What is this consistent profitability if strats threads and website say that there is thirty percent accuracy? This is a basic SR level w/ candlesticks and a moving average. Any average works.
You are Correct and Wrong at the sametime.... Yes is Support/Resistances, Candlesticks, EMAs.... But you are wrong in about "any avarage works"... In fact everything can work and everything cant work.... You need to have a system that the pattern repeats and change your mind in about what u are learning...

Support and Resistances.. are Buyers and Sellers... You know, the price moves with the difference of buyers vs sellers... the unbalance from one side moves the price.

PSAR is Price Action at Support and Resistance. In a few words we are looking to trade from one zone to other zone where are Buyers/Sellers. (Basic stuff, eh..)

Candlesticks/HiLo/LineChart whatever... is the how you want to see your own chart... In here Strat use Candlesticks and the way that Strat use it.. is amazing. For example, now i can see in each candle what is going on. For me is more easy and most of traders, to watch candlesticks than other thing.

Now the MA, i think you said "any avarage works" because you just put any avarage and you see how react... but if that is true, why you are here? why you just dont put any MA and trade it, if you think that every avarage works? Hmmmm you know the answer.

In here, Strat said that STRAT SHADOW is not a Crosses of MA and trade it.... the Strat Shadow is a powerful tool that can help you to check the Trend, MegaTrend, Ranging, etc.. etc...

Remember... when you look at the chart.. everything comes from PRICE ACTION! but the program just draw the candles, emas, etc.. etc.. but you need to understand PRICE ACTION.


*Strat if my post is useless, just tell me and i deleted it*
  • #5,732
  • Jul 4, 2018 9:23pm Jul 4, 2018 9:23pm
Quoting bignig
so read the threads. What is this consistent profitability if strats threads and website say that there is thirty percent accuracy? This is a basic SR level w/ candlesticks and a moving average. Any average works.
You can also trade by flipping a coin...your choice.
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #5,733
  • Jul 4, 2018 9:28pm Jul 4, 2018 9:28pm
Quoting HappyTrend
{quote} You are Correct and Wrong at the sametime.....

Looks like he is a thread hopper(may b he could correct me ).. He joined FF 29 hours ago. and within this 29 hrs he seams to read The Paradox system, Pivot trading, Mr.Scott's Crayon Thread (even called his charts are crazy complex),and now come here... I am still reading and learning the path (for couple of months) and still no where near understood 100% what Strat trying to teach us...
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Focus, Patience, Discipline, Determination and Perseverance
  • #5,734
  • Jul 4, 2018 9:37pm Jul 4, 2018 9:37pm
Quoting bignig
so read the threads. What is this consistent profitability if strats threads and website say that there is thirty percent accuracy? This is a basic SR level w/ candlesticks and a moving average. Any average works.
Definitely a thread hopper. If he bothered to read the old threads and look at chart explanations, as well as the remarkable progress of some senior members from beginning to now(BeyondTheSea, Yomi, Trogger, Rufus, etc.), He wouldn't be asking this question.
  • #5,735
  • Jul 4, 2018 9:48pm Jul 4, 2018 9:48pm
Quoting MikuSS
{quote} Definitely a thread hopper. If he bothered to read the old threads and look at chart explanations, as well as the remarkable progress of some senior members from beginning to now(BeyondTheSea, Yomi, Trogger, Rufus, etc.), He wouldn't be asking this question.
I know "traders" in person around the World, and for example one person from London have +10 years And he still is not profitable because his Ego and thinking magic things like "martingale" "grid" "hedges" entries without sense.... without stoploss.. etc.. etc... Im very sure bignig is like that... Looking for something to never have any single losses and entries with red or green dots hahaha.
  • #5,736
  • Edited 7:33am Jul 5, 2018 6:36am | Edited 7:33am
Hi Strat,
Thank you so much for your threads.
I learned a lot from your posts. So far, I only finished page 6. Oh,,, forgot to say, I have read the PDF twice last weekend.
Just start to apply for PASR this week. It was good if I didn't over trade. I gave back all my profit because of the immature trades.
The goal for next week is to trade under certain times (no more over trade).
I am in Forex only 9 months. Luckily my account balance is only 10% down compare with the first day.
I have strong believe in PASR after all the reading. Will report my result here every week from now on.
My boss is day chart and my worker is 4H currently. I know day will be less stress and less noise, but just more comfortable with 4H now. Will try day when I get used to PASR after the practice with 4H.
My RR is 1:2.5.
I also apply for my own small trick for stop. Will share it when I feel more confident about it.
Thank you again.
We don't see things as they are, we see them as we are.
  • #5,737
  • Jul 5, 2018 9:14am Jul 5, 2018 9:14am
PASR Trading Psychology

Quoting Svolacius
Evening traders, I am also progressing on the Path quite well, still keeping my focus on the psychology of trading and learning to deal with myself while in trades. The last attribute that I successfully practiced was Trading the Plan. Planning the Trade part was much easier than Trading the Plan. Once I got into trades, my emotions wouldn't let me to trade the plan and accept the risk. I just could not completely let the trade play itself out - either I moved the stops, or take profit. Seeing that I stopped progressing, I pushed myself out of my...
Hello Svolacius, good to see you back after your military exercises

I am also progressing on the Path quite well, still keeping my focus on the psychology of trading and learning to deal with myself while in trades.

If only more traders would take your approach they would be so much further along their learning curve. Well done.

Planning the Trade part was much easier than Trading the Plan.

When this happens it usually means your Trading Plan is not correct which therefore causes you to have no confidence in it. Make sure you SEE the trade with PASR and make sure your Stop Loss is set correctly. Make sure YOU can accept the financial loss if your Stop Loss is hit. If there is any doubt with this then REDUCE your POSITION size until you feel comfortable with accepting the 100% Stop Loss.

Seeing that I stopped progressing, I pushed myself out of my comfort zone and let couple of trades just play themselves out - if Price Action showed the trade, I took it and accepted the risk of trade not moving in my favor.

Very good but make sure your PLAN is correct first and that you BELIEVE in it.

Also I am thinking about paper trading the 5m charts to see if I could manage the fast-paced trading. However, my job and location where I live does not allow me to trade 5m charts as I go to work just before London Open and return home couple of hours into US session.

Be very careful with this. Not everyone, or their circumstances, are suited to M5 trading.

the fast-paced trading.

While it is "fast paced" compared to trading the Worker, once you are accustomed, familiar and experienced with M5, it really is SLOW, BORING and TIME CONSUMING. This is even more apparent if you have done my M1 Boot Camp!

I go to work just before London Open and return home couple of hours into US session.

So, before you even start, your circumstances are AGAINST you which lowers your probability of success/profit drastically.

This basically puts you in the same dilemma as Rufus and I and all the others in PST zone.

Study all my posts on M5 PASR Trend Trading BEFORE even attempting paper trading and take note that, because of my time zone circumstances, I only trade M5 WHEN New York CONFIRMS the TREND established by London.

NO TREND - NO TRADE

NO CONFIRMATION BY NEW YORK OF LONDON TREND - NO TRADE
15 YEARS OF PASR ON FOREX FACTORY!
  • #5,738
  • Jul 5, 2018 9:45am Jul 5, 2018 9:45am
Quoting Victoria2017
Hi Strat, Thank you so much for your threads. I learned a lot from your posts. So far, I only finished page 6. Oh,,, forgot to say, I have read the PDF twice last weekend. Just start to apply for PASR this week. It was good if I didn't over trade. I gave back all my profit because of the immature trades. The goal for next week is to trade under certain times (no more over trade). I am in Forex only 9 months. Luckily my account balance is only 10% down compare with the first day. I have strong believe in PASR after all the reading. Will report my...
Welcome! Are you Lady Victoria or just a resident of Victoria, New South Wales?

I have read the PDF twice last weekend.

Please remember that is only a "Summary" and was not compiled by me.
Make sure you READ and UNDERSTAND the more important ""THE PATH"" https://web.archive.org/web/20120603...rning:overview in addition to both threads.

Just start to apply for PASR this week. It was good if I didn't over trade.

Over trading has nothing to do with any strategy and is Trading Psychology which accounts for 95% of our losses.
PASR focuses on Trading Psychology in addition to the PASR strategy.

My boss is day chart and my worker is 4H currently

Seems like you have already misunderstood/forgotten that your BIG BOSS will be the Weekly chart.

Will try day when I get used to PASR after the practice with 4H.

Your choice but seems like you are upside down both geographically and trading wise. The Daily chart is much more accurate than H4 and therefore much easier for learning any strategy on.

I also apply for my own small trick for stop.

There are NO TRICKS for Stop Loss. All those who try ""tricks"" and MESS with the Stop Loss get EATEN ALIVE by the BIG BOYS!

Will share it when I feel more confident about it.

NO, THANK YOU - do not even THINK about it!

I have strong believe in PASR after all the reading.

Good, but let's SEE how long you last with ALL the HARD WORK ahead of you before you succumb to indicator junkies in Indicator Land.
15 YEARS OF PASR ON FOREX FACTORY!
  • #5,739
  • Jul 5, 2018 9:52am Jul 5, 2018 9:52am
PASR

Quoting HappyTrend
{quote} You are Correct and Wrong at the sametime.... Yes is Support/Resistances, Candlesticks, EMAs.... But you are wrong in about "any avarage works"... In fact everything can work and everything cant work.... You need to have a system that the pattern repeats and change your mind in about what u are learning... Support and Resistances.. are Buyers and Sellers... You know, the price moves with the difference of buyers vs sellers... the unbalance from one side moves the price. PSAR is Price Action at Support and Resistance. In a few words we are...
Strat if my post is useless, just tell me and i deleted it

Your post has great value and nothing you post is "useless" so, No hay problema!
15 YEARS OF PASR ON FOREX FACTORY!
  • #5,740
  • Jul 5, 2018 11:02am Jul 5, 2018 11:02am
@strat
hello strat!
i am new to this thread. I want to share my trading story. I have already blown up my 2 account and after that i have realised the main reasons of my loss. 1st and major reason was “ i was using different lagging indicators and trading in lower time frame M5 and M15 to fall myslef into the category of day trader and sclaper. 2nd reason that i consider which put me in loss is revolving around different trading strategies. When i got loss in a system i thought no man this system is not for you and i move to the next one again and again.
So now i have read your thread and tried to understand it. I have to now double responsibility to recover my losses and make profit also to stay in trading business for long time.
I have tried your system on demo account and found good results but i can’t understand the concept of SR properly because after drawing support and resistance lines on my chart it look like there are more SR lines than the candle sticks. Kindly guide me if you can help me about SR.
BTW thanks alot for providing this system. It actually building confidence in me.
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