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Strat's PASR Long Term, Stress Free Trading

  • #5,741
  • Edited 8:01pm Jul 5, 2018 6:57pm | Edited 8:01pm
Quoting strat
{quote} 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....
Hi Strat,
Thank you for your detailed reply.

To response your words:
I am a lady live in WA. WA stands both 'Western Australia' and 'Wait a While'. The famous words here is 'Take is easy, mate'.
Thanks for the link of your website. It will be good homework for me this weekend.
Thanks for the words about the time frame. I plan to trade on day chart when I am on my holiday (1.5 months from August). I can't stop watching the price during the day. Hope holiday stops me.
Thanks for the comments about my stop trick. It might be something wrong about my trading but I didn't know.

I am looking forward to my PASR experience.
I might have a lot of questions. Hope it won't bother you much.

Rock n Roll..... I do feel more cheerful when I type this words like you said in one of your posts.
We don't see things as they are, we see them as we are.
  • #5,742
  • Jul 5, 2018 8:38pm Jul 5, 2018 8:38pm
Quoting Victoria2017
{quote} Hi Strat, Thank you for your detailed reply. To response your words: I am a lady live in WA. WA stands both 'Western Australia' and 'Wait a While'. The famous words here is 'Take is easy, mate'. Thanks for the link of your website. It will be good homework for me this weekend. Thanks for the words about the time frame. I plan to trade on day chart when I am on my holiday (1.5 months from August). I can't stop watching the price during the day. Hope holiday stops me. Thanks for the comments about my stop trick. It might be something...

Hi Victoria

Welcome to our humble area of personal growth.

I can't stop watching the price during the day.

Every trader is different so I will write from my own perspective. If I cannot turn away from the screen, my personal psychology, little people, will start screaming at me. It can get to where every pip against you brings mental turmoil and every pip in your direction, elation. Both dangerous to a trading mindset. For me...If I can't walk away from the screen for at least the time of one bar on the chart I am trading, I am doing something wrong. It's a rule of thumb for me. So if trading a 5m chart, I need to be able to walk away and get a cup of coffee or something and be back by the close of that bar. 15m chart ? 15 minutes. Daily chart? Look at it when I get home from work. There are exceptions once in a while. Like I said a rule of thumb for me.

I might have a lot of questions. Hope it won't bother you much.

Questions are more than welcome as long as progress is being made along the "Path". I look forward to questions. I am learning as well. For that matter we never stop learning.

Looking forward to what you will be contributing to the thread.

Rufus
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #5,743
  • Jul 5, 2018 8:54pm Jul 5, 2018 8:54pm
Quoting Wiiikkks
@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...
Hi Wiiikkks

Welcome to class...

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.

You only need the ones relevant to the time frame you are trading. For example, if you are trading the daily chart you don't need 5m S/R. Also you don't need them hundreds of pips away. I try to have no more than 2 or 3 on my chart that is traded. Also have them a very light color will help. See attached chart. If they are big and bold they become roadblocks mentally. S/R does not mean price will stop there, it might stop there or at least have trouble, or fly through like nothing is there. That's where the PA comes in with PASR.



Attached Image (click to enlarge)
Click to Enlarge Name: EURCADDaily.png Size: 85 KB


I have to now double responsibility to recover my losses and make profit also to stay in trading business for long time.

This mindset will put a lot of pressure on you to perform. The only responsibility is to understand trading as Strat has laid out, then develop your own style.

See you around.

Rufus
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #5,744
  • Jul 5, 2018 9:48pm Jul 5, 2018 9:48pm
gbp-usd day I think a short entry, your opinion counts for me.
Attached Image (click to enlarge)
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  • #5,745
  • Jul 5, 2018 10:25pm Jul 5, 2018 10:25pm
Quoting cesar8
gbp-usd day I think a short entry, your opinion counts for me. {image}

Hey cesar8,

Welcome to the thread.However, sorry if you feel this reply rude or something. I need to tell you this before you get banned posting in this thread.

If you really want to learn and participate this thread.... then please go back and read the first page if this thread in FULL. If you read it then you would have removed those wiggly lines(and other indicators) below your chart.

Next, if you want to be successful in this business then please choose one method and learn it inside out until you can trade while hanging up side down in Eiffel tower( strat's lingo). I see you following many strategies. Just chose one and learn it thoroughly.

If you put your effort and follow THE PATH , then I am sure Strat (and others) will give his fullest.

regards
Focus, Patience, Discipline, Determination and Perseverance
  • #5,746
  • Jul 6, 2018 1:49am Jul 6, 2018 1:49am
Quoting Rufus
{quote} Hi Wiiikkks Welcome to class... 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. You only need the ones relevant to the time frame you are trading. For example, if you are trading the daily chart you don't need 5m S/R. Also you don't need them hundreds of pips away. I try to have no more than 2 or 3 on my chart that is traded. Also have them a very light color will help. See attached chart. If they are big and...
Thanks rufus,
i can understand your concept of SR. i have placed only 4 SR on my chart now. But its very difficult to point out the target point for profit. Because market very rarely react as per my understanding. sometime it shoots a lot more higher than my take profit points and than i regret why should i placed the TP. and sometime it didnt reach the target.
My point is how can i find the strongest SR point with high probability of retracement and build confidence. Can you point out some important areas to consider for this issue?
  • #5,747
  • Jul 6, 2018 1:55am Jul 6, 2018 1:55am
Right. Time to show a little more swing trading instead of that nasty 5 minute stuff Although I also go in on the EUR/NZD trade people were posting at the start of the week.

One of the trades I have running at the moment, with some commentary on the charts. I'm still working out what exactly I will do for my money management, but I am leaning toward taking half at first support/resistance and letting the remainder run.

USD/CAD

Big boss: This is the big picture of where we are. It's an area that has acted as support and resistance right back to 2000, and swapped around a couple of times since 2014. Last months candle pushed up but was unable to close higher than half way showing me resistance to going higher.

Boss: Giving direction. Last week closed as a bearish engulfing candle above the strat shadow. There's some room to run down to the next support I have marked at 1.2895. This trade being essentially a counter trend trade against the worker, boss and big boss trends, but also from and area that's shown to be strong support and resistance.

Worker: Two solid down candles, but no clear price action candle. Moving lower to 4hr.

4Hr: Entry as shown on chart, using a pending order. Moved to break even at 1:1 and now sitting on it.

This is NOT a trade as strat recommends for starting out, with all 3 time frames in alignment. I am comfortable with it, but expect there will be comments. Hopefully this will get some thinking caps on, and at the very least I can be and example of what not to do...
Attached Image(s) (click to enlarge)
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  • #5,748
  • Jul 6, 2018 3:57am Jul 6, 2018 3:57am
Quoting Rub
Right. Time to show a little more swing trading instead of that nasty 5 minute stuff Although I also go in on the EUR/NZD trade people were posting at the start of the week. One of the trades I have running at the moment, with some commentary on the charts. I'm still working out what exactly I will do for my money management, but I am leaning toward taking half at first support/resistance and letting the remainder run. USD/CAD Big boss: This is the big picture of where we are. It's an area that has acted as support and resistance...
Sorry Rub, but I don't understand why you are shorting this pair.

Price is near 1.31 support, and is showing up trends on the worker and boss ...
  • #5,749
  • Jul 6, 2018 4:51am Jul 6, 2018 4:51am
Quoting Bestof27
{quote} Sorry Rub, but I don't understand why you are shorting this pair. Price is near 1.31 support, and is showing up trends on the worker and boss ...
Yes I agree with Bo27. Furthermore, today is NFP and CAD red news. Price will not move until announcement.

Please manage and trade with care.
  • #5,750
  • Jul 6, 2018 7:00am Jul 6, 2018 7:00am
Quoting Bestof27
{quote} Sorry Rub, but I don't understand why you are shorting this pair. Price is near 1.31 support, and is showing up trends on the worker and boss ...
While I see the uptrend on the boss and worker, I don't see the 1.31 support you're talking about?

I thought I laid out my reasons for the trade fairly clearly on the images I uploaded, with the trade triggered early this week, and the stop is at beak even so I'll let it run.

I'm for bed, so I guess I'll how it plays out tomorrow.
  • #5,751
  • Jul 6, 2018 8:28am Jul 6, 2018 8:28am
Quoting Wiiikkks
{quote} Thanks rufus, i can understand your concept of SR. i have placed only 4 SR on my chart now. But its very difficult to point out the target point for profit. Because market very rarely react as per my understanding. sometime it shoots a lot more higher than my take profit points and than i regret why should i placed the TP. and sometime it didnt reach the target. My point is how can i find the strongest SR point with high probability of retracement and build confidence. Can you point out some important areas to consider for this issue?

My point is how can i find the strongest SR point with high probability of retracement and build confidence. Can you point out some important areas to consider for this issue

The number one thing is lots of time at the charts and I'll add, not being in a hurry. The "Path of Learning" is not a freeway.

As for finding the "Strongest" ? In general the higher time frame S/R is strongest. We need to mentally let price do whatever it wants to do, we can't box it in mentally. The market doesn't care what I think.

But its very difficult to point out the target point for profit

Targets don't always have to be set. Most of my trades taken from a daily chart don't have a hard target. PA is what will be the reason to pull the trade.

Because market very rarely react as per my understanding. sometime it shoots a lot more higher than my take profit points and than i regret why should i placed the TP.

No one fully understands what exactly the market will do. It took a while, but I am finally got to a point that once a trade is closed, win or lose, there are no regrets. Regrets make havoc on your trading psychology. We can have regrets of lost finances or regrets of lost opportunity. Neither help our trading. Try replacing regret with thankfulness. Thankful for what you learn, thankful for what you gained. It gets to be difficult to do because it is very easy to become emotionally invested in a trade. Emotions are there, we can not get rid of them. But if you trade with a plan the emotions can be kept under control. We have to see everything from a rule and logic based perspective, no emotion. The market has no emotion toward you, you have none toward it.


Keep reading the path and be patient with your progress. Things will fall into place. Strat has laid out everything we need here.

Hope that was helpful

Rufus
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #5,752
  • Jul 6, 2018 8:40am Jul 6, 2018 8:40am
Quoting Rub
Right. Time to show a little more swing trading instead of that nasty 5 minute stuff Although I also go in on the EUR/NZD trade people were posting at the start of the week. One of the trades I have running at the moment, with some commentary on the charts. I'm still working out what exactly I will do for my money management, but I am leaning toward taking half at first support/resistance and letting the remainder run. USD/CAD Big boss: This is the big picture of where we are. It's an area that has acted as support and resistance...
Rub....

Looks like a beautiful Swing PASR to me. I am in it as well....

My profit taking plan is on the chart. Already took some. PA will trump my plan if needed.


Attached Image (click to enlarge)
Click to Enlarge Name: USDCADDaily.png Size: 91 KB
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #5,753
  • Jul 6, 2018 8:45pm Jul 6, 2018 8:45pm
Quoting Rufus
{quote} Hi Victoria Welcome to our humble area of personal growth. I can't stop watching the price during the day. Every trader is different so I will write from my own perspective. If I cannot turn away from the screen, my personal psychology, little people, will start screaming at me. It can get to where every pip against you brings mental turmoil and every pip in your direction, elation. Both dangerous to a trading mindset. For me...If I can't walk away from the screen for at least the time of one bar on the chart I am trading, I am doing something...
Hi Rufus,
Thank you very much for the tips about watching screen. Actually, I practiced myself yesterday (Friday) and I was improved. I forced myself not to watch the price anytime when I feel like it.
Practice is the key. One day I will just watch the screen in the end of my worker's period. I hope that day can come quicker.
From my very short Forex learning journey, I find there are so many wonderful trading theories and intelligent people, but only very small percentage of people can get there. The real difficulty is to be consistent and fool.
My goal is to consistently plan my trade, and execute my plan like a fool. ---- Rufus, could you please let me know if you think I am wrong?

By the way, I really like the quote you mentioned and made it to be my signature.
I want to be reminded that I am subjective all the time regardless I want or not.
We don't see things as they are, we see them as we are.
  • #5,754
  • Edited 4:41am Jul 7, 2018 2:41am | Edited 4:41am
Quoting Rub
{quote} While I see the uptrend on the boss and worker, I don't see the 1.31 support you're talking about? I thought I laid out my reasons for the trade fairly clearly on the images I uploaded, with the trade triggered early this week, and the stop is at beak even so I'll let it run. I'm for bed, so I guess I'll how it plays out tomorrow.
Hi Rub,
These are the lines I see:
Attached Image (click to enlarge)
Click to Enlarge Name: USDCADMonthly.png Size: 90 KB

Attached Image (click to enlarge)
Click to Enlarge Name: USDCADWeekly.png Size: 81 KB

Attached Image (click to enlarge)
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Have a good weekend. Will post my analysis tomorrow when I have free time.
  • #5,755
  • Jul 7, 2018 9:25am Jul 7, 2018 9:25am
Quoting Victoria2017
{quote} Hi Rufus, Thank you very much for the tips about watching screen. Actually, I practiced myself yesterday (Friday) and I was improved. I forced myself not to watch the price anytime when I feel like it. Practice is the key. One day I will just watch the screen in the end of my worker's period. I hope that day can come quicker. From my very short Forex learning journey, I find there are so many wonderful trading theories and intelligent people, but only very small percentage of people can get there. The real difficulty is to be consistent...

Hi Victoria

I should clarify in case someone misunderstands me. When I say not watch a chart, I am referring to one where there is a trade on and the watching becomes focused on the trade and not the chart. Watching PA is great way to learn. Watching a trade, not so much.

A trading plan is a very personal thing. Some of the basics may be the same for a lot of us, but some of the finer details of the plan are more tailored for our individual ways our minds work. So you're not wrong. A lot of traders start out with no plan at all. It is wonderful that you have one. Allow it to evolve with you as a trader.

Have a good week

Rufus
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #5,756
  • Jul 7, 2018 10:19am Jul 7, 2018 10:19am
NZDUSD

BB: Last month's candle stalled at nice support zone after 5 months of downtrend.
Attached Image (click to enlarge)
Click to Enlarge Name: NZDUSDMonthly.png Size: 101 KB

B: Price not only rejected one, but 2 support zones, forming a Hammer.
Attached Image (click to enlarge)
Click to Enlarge Name: NZDUSDWeekly.png Size: 82 KB

Worker: Pretty much the same as the Boss, but Friday's candle closed very bullish, with almost no wicks, signalling an exhaustion to the downtrend. However, the worker still has to clear the 20ema of the Strat Shadow. Perhaps it would be wise to exercise a little bit more patience on this pair.
Attached Image (click to enlarge)
Click to Enlarge Name: NZDUSDDaily.png Size: 103 KB
  • #5,757
  • Jul 7, 2018 12:23pm Jul 7, 2018 12:23pm
Last week the market is quiet to me and no trade on long time frame.
Even for 5 minutes I did not get any profit, just with same break even trade.

My weekly analysis:
AUDNZD
Monthly : Swinging under shadow, now at the resistance
Weekly : This week formed a shooting star and double top, closed back in the WCC
Daily : Tuesday candle is rejected by the resistance and formed a shooting star, price start going down

Attached Image (click to enlarge)
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  • #5,758
  • Jul 7, 2018 12:28pm Jul 7, 2018 12:28pm
Quoting MikuSS
NZDUSD BB: Last month's candle stalled at nice support zone after 5 months of downtrend. {image} B: Price not only rejected one, but 2 support zones, forming a Hammer. {image} Worker: Pretty much the same as the Boss, but Friday's candle closed very bullish, with almost no wicks, signalling an exhaustion to the downtrend. However, the worker still has to clear the 20ema of the Strat Shadow. Perhaps it would be wise to exercise a little bit more patience on this pair. {image}
Although the Weekly hammer looks very nice, looking back to Strat and others comment, #5668
I think I will look for the next week candle close, or even next month before I enter a long trade.
While if there is PA showing the trend will continue down on daily trade, I think I will enter it, based on the risk:reward ration.
  • #5,759
  • Jul 7, 2018 1:43pm Jul 7, 2018 1:43pm
Quoting brian661
Last week the market is quiet to me and no trade on long time frame. Even for 5 minutes I did not get any profit, just with same break even trade. My weekly analysis: AUDNZD Monthly : Swinging under shadow, now at the resistance Weekly : This week formed a shooting star and double top, closed back in the WCC Daily : Tuesday candle is rejected by the resistance and formed a shooting star, price start going down {image} {image} {image}
Took a short on Thursday, after the shooting star is confirmed by the next down candle
  • #5,760
  • Jul 8, 2018 9:46pm Jul 8, 2018 9:46pm
Quoting MikuSS
{quote} Hi Rub, These are the lines I see: {image} {image} {image} Have a good weekend. Will post my analysis tomorrow when I have free time.
Hi, MikuSS
I think, what you see is Roadblock (Resistance), but what Rub see is PA.
what do you think about the BEEB on Boss?
Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD Weekly - 20180709.png Size: 44 KB

Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD Daily - 20180709.png Size: 45 KB

Regards
Cj
Don't Rush Things, Be PATIENT and Wait For the Best Trade Setup
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