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Strat's PASR Long Term, Stress Free Trading

  • #7,781
  • Oct 17, 2018 7:58am Oct 17, 2018 7:58am
PASR - THE PATH

Quoting huatzhi
{quote} Anyway, I am going to read all. I won't post anything until I finish and think I understand all of them. Don't do that. Don't. Just don't. That was probably one of my worst mistake that I made on the path, for at least about 4 months long. What should be done is, read and understand, and then practice them on the chart, and then post the outcome of your practice here. Use whatever you found on your path and ask if there is any doubt on the path. It should all be happening at the same day everyday. Without posting them out, no one can see...
Thank you, huatzhi, you are a very smart person.

Not wanting to take anything away from what you have posted and your valuable experience but there are many different ways to learn depending on a person's ability to absorb and apply information.

JCMPete did, and is doing, his learning in a different manner so I am interested in his comments on this.

I've been making the same mistake for past few days as well

Please post so we can help
15 YEARS OF PASR ON FOREX FACTORY!
  • #7,782
  • Oct 17, 2018 8:09am Oct 17, 2018 8:09am
PASR

Quoting Rub
{quote} This has probably already been mentioned by now, but do you do an analysis at the end of a week/month? At the end of a month I clear everything off my chart, and redraw my support/resistance. During the weekend I do a top down analysis, and write it down, with my conclusion on what direction to trade, or if I'm staying out. It sounds like you need to do that, and follow it! {quote} I agree with huatzhi, you need to practice what you're reading. I am only about 1/3rd of the way through the old thread, but I'm reading, then putting into practice,...
but do you do an analysis at the end of a week/month?

Thank you for reminding everyone, Ben. It seems many have forgotten this.

I agree with huatzhi, you need to practice what you're reading.

So, read, learn and UNDERSTAND the topic and then post to ensure you have a correct understanding BEFORE moving onto the next topic. Yes it will take time, patience, focus, discipline, determination and perseverance - all qualities you need to become a ""consistently profitable"" trader. Plus, what else have you got to do with your time and what better way is there to spend your time?
15 YEARS OF PASR ON FOREX FACTORY!
  • #7,783
  • Oct 17, 2018 8:15am Oct 17, 2018 8:15am
Quoting pippoacher
{quote} Hahaha Snails racing in the rain, best thing Ive heard all week
Snails racing in the rain

Also added to my library - works the imagination much better than "watching paint dry" and "watching grass grow"

More balls please, Nathan!
15 YEARS OF PASR ON FOREX FACTORY!
  • #7,784
  • Oct 17, 2018 8:48am Oct 17, 2018 8:48am
CADJPY

Quoting bistolis
{quote} good luck mate you are sitting on top of resistance, there is not much of a trend. I dont particularly like this chart yet. and why do you even pick this chart with a daily range slightly lower than EURUSD and by the way. I would put my SL closer EDIT: {image}
Don't be so hard on him, Zorba! He has come in from the cold having started THE PATH on September 28, 2018 and from a journey not too dissimilar to yours.

Plus, everyone on THE PATH should trade every potentially rewarding PASR set up on any pair to gain much needed valuable experience.

Trading high volatility pairs is only if you have the experience and financial independence or, when there is a choice of pairs to trade. Profiting 100 pips every week on Basic PASR is what those early on THE PATH need to do and sometimes beats waiting for weeks for a Worker trend or even months for a Boss trend.
15 YEARS OF PASR ON FOREX FACTORY!
  • #7,785
  • Oct 17, 2018 8:56am Oct 17, 2018 8:56am
Quoting strat
CADJPY {quote} Don't be so hard on him, Zorba! He has come in from the cold having started THE PATH on September 28, 2018 and from a journey not too dissimilar to yours. Plus, everyone on THE PATH should trade every potentially rewarding PASR set up on any pair to gain much needed valuable experience. Trading high volatility pairs is only if you have the experience and financial independence or, when there is a choice of pairs to trade. Profiting 100 pips every week on Basic PASR is what those early on THE PATH need to do and sometimes beats waiting...
you are right. It seemed I was hard. apologies to everyone and fxmarvel. I am not the expert anyway. I have to change my writing style I think slowly (or faster). i am trying to type fast and in as few words as possible almost always
  • #7,786
  • Oct 17, 2018 9:08am Oct 17, 2018 9:08am
Hey bistolis, thanks! but no need for apology, I know you meant well and I didn't even think of taking it to heart.
While I agree it is best to look into the most volatile pairs; when I see a good setup I take it.
So far I have the satisfaction of reading this trade perfectly.
I always appreciate all your input!
Val
  • #7,787
  • Oct 17, 2018 10:12am Oct 17, 2018 10:12am
CADJPY M15

Quoting fxmarvel
CADJPY ready to go short on M15 {image}
Welcome, Val, to the light from the darkness!

Thank you bistolis and Szpons for helping your fellow trader - TRADERS HELPING TRADERS

While you got this correct and should have made 2:1 profits, there are many things which, if not corrected, will prevent you from being ""consistently profitable"".

First, what was your analysis to trade CADJPY short on M15?

Next, did you think you had a PASR Set Up and if so, what was it?

Is this paper trading?

Were you aware you traded right before New York open?

Do you know what our No. 1 Rule is?

Did you have a PLAN and if so, did you trade your PLAN and did your PLAN have a target?

You are correct, I saw the M15 ma support but I don't think it is going to hold.

PASR traders NEVER trade THOUGHTS. PASR traders follow in the footsteps of the Big Boys. Trading THOUGHTS is the quickest way I know to your account WIPE OUT (I know - been there and done it!). Do not be encouraged that this worked out this time - I can show you hundreds of similar situations where it did NOT work out.

On H4, there was a bearish engulfing at resistance

Good, BUT there was also SUPPORT directly below it!!!!!

I think there will be another leg down to maybe the dotted ma support

PASR traders NEVER trade THOUGHTS. PASR traders follow in the footsteps of the Big Boys. Trading THOUGHTS is the quickest way I know to your account WIPE OUT (I know - been there and done it!). Do not be encouraged that this worked out this time - I can show you hundreds of similar situations where it did NOT work out.

about 50% retracement

Who cares? PASR traders trade PASR, NOT the ice cream man's fancy numbers!

I normally trail the stop loss which I already moved closer.

Yes, CLOSER to being STOPPED OUT! Another rookie RANK AMATEUR mistake! Do you know which time frame you are trading? Are you scalping or trading Basic PASR or do you even know?

Of course this trade could still go bust, I may be wrong..

The probability of this when you entered this trade was 50/50 - in other words, you are GAMBLING - if you want to GAMBLE, go to the Casino - you will still lose but its much more fun and there are pretty girls to look at. When we trade PASR, we want ALL the variables on OUR side so that the PROBABILITY of profit is much higher than 50/50.

I think this trade is more likely to find support at 50% retracement where there is also H1 structure

PASR traders NEVER trade THOUGHTS. PASR traders follow in the footsteps of the Big Boys. Trading THOUGHTS is the quickest way I know to your account WIPE OUT (I know - been there and done it!). Do not be encouraged that this worked out this time - I can show you hundreds of similar situations where it did NOT work out.

find support at 50% retracement

Who cares? PASR traders trade PASR, NOT the ice cream man's fancy numbers!

I prefer to use M15 (in this case) to manage my trade (aka trail the stop) based on structure hoping the price will go down to H4 support

manage my trade (aka trail the stop)

""Managing a trade"" is NOT just ""trailing your stop". That is yet another rookie RANK AMATEUR practice which is why "rookies" are still, and always will be - "rookies"

hoping the price will go down to H4 support

Somewhere in my "old" original thread and also in my expired Private Website, I did a series of posts on a trader's deadliest enemy - Psychology.

""Wishing, Thinking, Hoping and Praying"", along with FEAR and GREED are the deadliest emotions of our Psychology.

If you ""THINK"" you know better than me, then at least believe W.D. Gann:

W.D. Gann warned his fellow traders in his book “How to Make Profits in Commodities” to:

Quote “Never trade on hope. Hope wrecks more people than anything else. Study the market and determine the trend. Face the facts, and when you trade, trade on facts, eliminate hope.” Unquote.


Quote "The emotion of hope presents a significant pitfall for the trader since it can prevent them from taking appropriate action to protect their account’s value". Unquote


Quote “Hope will ruin you because it is nothing more than wishful thinking and provides no basis for action.” Unquote

EDIT: on M15, the dotted ma represents higher time frame support that is the reason I was looking at it initially

Yet, still, on M15, the ""dotted ma"" was ONLY 5 pips away from your entry. Had it supported PRICE, your trade would have been for 5 pips with a 18/20 pips stop loss - an UPSIDE DOWN R:R of 4:1 which is totally against PASR strategy.

Again, "Do not be encouraged that this worked out this time - I can show you hundreds of similar situations where it did NOT work out." Thinking more about it, I can show you THOUSANDS of similar situations where it did NOT work out.

Are you on THE PATH? Have you read, learned and understood my "old" original thread and then this one?

Having done all this, bistolis was correct (sorry Zorba!) to pull you up on this.
15 YEARS OF PASR ON FOREX FACTORY!
  • #7,788
  • Oct 17, 2018 10:19am Oct 17, 2018 10:19am
CADJPY

Quoting bistolis
{quote} you are right. It seemed I was hard. apologies to everyone and fxmarvel. I am not the expert anyway. I have to change my writing style I think slowly (or faster). i am trying to type fast and in as few words as possible almost always
My apologies, Zorba - you were correct to try and help him (her)

More balls, please, Zorba!
15 YEARS OF PASR ON FOREX FACTORY!
  • #7,789
  • Oct 17, 2018 10:28am Oct 17, 2018 10:28am
Quoting strat
{quote} Snails racing in the rain Also added to my library - works the imagination much better than "watching paint dry" and "watching grass grow" More balls please, Nathan!
CADJPY BASIC PASR

Attached Image (click to enlarge)
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1st entry last night on 4 hour, things got wild so I had a 2nd entry on 1 hour time frame today. Target yesterdays low, profit locked above that 1HR BUEB - SO THIS IS NOT A TRADE SIGNAL!

Interested if anyone read my post on GBPNZD and the bit about identifying the buyer? I can see 4 places where he keeps popping up on this chart. (hint you may have to toggle a couple of time frames AND should have been my TP).

Back to ZZZzzzzz but profit is locked in! (and it's good practice ..)
Private Msgs are turned off to weirdos, loafs and brain drainers
  • #7,790
  • Oct 17, 2018 10:46am Oct 17, 2018 10:46am
PASR

Quoting Victoria2017
{quote} Thank you Strat, You have sharp eyes. I don't finish both threads. You said 'short cut' to many students but I didn't really think about it. It did hit my head and let me think about the words my dad said to me when I was young. He said 'you think you are clever so you can find a short cut but there is no short cut in life'. Trading is another way to grow. I have read the summary from your website once when I started. I started to read again last night. Anyway, I am going to read all. I won't post anything until I finish and think I understand...
Oh dear, Victoria.

the words my dad said to me when I was young. He said 'you think you are clever so you can find a short cut but there is no short cut in life'.

So do you think yourself so clever and so smart that you can ignore your Parents' advice? Looking back on my life and those of my relatives and friends, I can tell you with 100% certainty that our parents KNOW BEST!

I have read the summary from your website once when I started. I started to read again last night.

As I posted in one of my early posts to you, the ""summary"" is all that it is - a brief synopsis - nothing more. THE PATH is where all students need to be.

I won't post anything until I finish and think I understand all of them.

There is no "think" about it! You either understand it or you don't - its black or white, never gray.

I had some new thoughts when I read the page 1 of this thread yesterday

There is no "thinking" involved - I have done all the thinking for you. ""Thinking"" complicated darko's trading and probably others on here not having the balls to say so. PASR is SIMPLE when you UNDERSTAND it. All you have to do on THE PATH is read, learn and UNDERSTAND. Then, without ""thinking"", apply what you have learned and understood.

So I will start like I have never heard about PASR.

Good.

Make sure you keep abreast of posts on here and make sure you read Posts 7765, 7766, 7768, 7781 and 7782
15 YEARS OF PASR ON FOREX FACTORY!
  • #7,791
  • Oct 17, 2018 11:43am Oct 17, 2018 11:43am
CADJPY - UPDATE

At least for a crappy boring trade we should learn from it just as we should with them all.

Turbo-snail got the better of me and I closed it for a small profit. I trade live because; try as i might to paper trade I just do not analyse or read the trades as I would with real money.

Don't risk money if you haven't got any but if you do and you are wired like me (not weird, that's too much to ask) don't spend too long paper trading because it's a totally different and immersive experience when skin is in the game, however small. However if it just passes the time of day for you then stick to pen and paper.

With that said I owed my little snail race the same time it had afforded me and I have to thank Svolacius for bringing the little mollusc to my attention last night..

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Private Msgs are turned off to weirdos, loafs and brain drainers
  • #7,792
  • Oct 17, 2018 2:29pm Oct 17, 2018 2:29pm
Quoting BeyondTheSea
CADJPY - UPDATE At least for a crappy boring trade we should learn from it just as we should with them all. Turbo-snail got the better of me and I closed it for a small profit. I trade live because; try as i might to paper trade I just do not analyse or read the trades as I would with real money. Don't risk money if you haven't got any but if you do and you are wired like me (not weird, that's too much to ask) don't spend too long paper trading because it's a totally different and immersive experience when skin is in the game, however small. However...
Night BTS!
Nice analysis! I would be tempted to go long but let's how it reacts to 87ish support you drew in your post 7789 and that, I guess, was one of the reasons you decided to go short (PA at resistance and at StratShadow).
Also, to add on your last analysis I'd say that hammer has been placed right into current WCC bottom so more chances for going long.
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IF IT DOESN'T FEEL RIGHT - IT'S NOT RIGHT!
  • #7,793
  • Oct 17, 2018 2:46pm Oct 17, 2018 2:46pm
Quoting Rub
{quote} This has probably already been mentioned by now, but do you do an analysis at the end of a week/month? At the end of a month I clear everything off my chart, and redraw my support/resistance. During the weekend I do a top down analysis, and write it down, with my conclusion on what direction to trade, or if I'm staying out. It sounds like you need to do that, and follow it! {quote} I agree with huatzhi, you need to practice what you're reading. I am only about 1/3rd of the way through the old thread, but I'm reading, then putting into practice,...
Thanks, Rub and Strat for your comments!
This has probably already been mentioned by now, but do you do an analysis at the end of a week/month?
Of course, I do I take this with the professionalism it deserves but struggling with time to practice and learn more often during weekdays.

That being said I do my weekly/monthly analysis (with an only chart in my screen) and take notes of the possible trades that can occur during the following week so I can focus more on them. For example, in my weekly analysis, I focus on BOSS swings, PASR in BOSS, how it's moving relating to her BOSS (BIGBOSS), etc.

Quoting strat
AUDCAD {quote} Example of what I see when I open a pair chart. Hmm, that's exactly what I did many years ago. What I found though was that I could not SEE clearly and found myself missing important PASR on the Big Boss and Boss. If that is YOUR style and it works for YOU then that is all that matters.
If that is YOUR style and it works for YOU then that is all that matters
It is Strat. I like to have a general insight when I open my charts after NY close and after that, I maximize the window of the chart I'm interested in looking at for having a clearer picture.
IF IT DOESN'T FEEL RIGHT - IT'S NOT RIGHT!
  • #7,794
  • Oct 17, 2018 2:47pm Oct 17, 2018 2:47pm
Quoting Eurotrader17
{quote} Night BTS! Nice analysis! I would be tempted to go long but let's how it reacts to 87ish support you drew in your post 7789 and that, I guess, was one of the reasons you decided to go short (PA at resistance and at StratShadow). Also, to add on your last analysis I'd say that hammer has been placed right into current WCC bottom so more chances for going long. {image}
Maybe, but trading this on the worker inside of a WCC doesn’t get me interested enough to spend any more time on it. I’m off to play with another pair!
Private Msgs are turned off to weirdos, loafs and brain drainers
  • #7,795
  • Oct 17, 2018 3:51pm Oct 17, 2018 3:51pm
Quoting strat
PASR - THE PATH {quote} Thank you, huatzhi, you are a very smart person. Not wanting to take anything away from what you have posted and your valuable experience but there are many different ways to learn depending on a person's ability to absorb and apply information. JCMPete did, and is doing, his learning in a different manner so I am interested in his comments on this. I've been making the same mistake for past few days as well Please post so we can help
Alright. What I usually done was this > Practice, see result, pick up something, forget. I did not really record down my practices at anywhere nor show it to people. As time goes on, it could very easily causing me myself to forget what I had picked up as well. I didn't post them here, so, since the only one that evaluate it is myself, who know I've been making some mistake that I myself don't know of.

Eventually until I have confidence to post here, the mistake and the misunderstanding will show out that kind of kick me back to the cave.
  • #7,796
  • Oct 17, 2018 5:07pm Oct 17, 2018 5:07pm
Quoting huatzhi
{quote} Anyway, I am going to read all. I won't post anything until I finish and think I understand all of them. Don't do that. Don't. Just don't. That was probably one of my worst mistake that I made on the path, for at least about 4 months long. What should be done is, read and understand, and then practice them on the chart, and then post the outcome of your practice here. Use whatever you found on your path and ask if there is any doubt on the path. It should all be happening at the same day everyday. Without posting them out, no one can see...
Thank you very much for sharing your experience, huatzhi,
That is very helpful. I will start to practice and post once I reach the point where I need to practice what I learned.

Quoting Rub
{quote} This has probably already been mentioned by now, but do you do an analysis at the end of a week/month? At the end of a month I clear everything off my chart, and redraw my support/resistance. During the weekend I do a top down analysis, and write it down, with my conclusion on what direction to trade, or if I'm staying out. It sounds like you need to do that, and follow it! {quote} I agree with huatzhi, you need to practice what you're reading. I am only about 1/3rd of the way through the old thread, but I'm reading, then putting into practice,...
Hi Rub,
Thank you for sharing. I will keep practicing.
Good luck for both of us!

Quoting fxrabbi
{quote} Just the only way to go...... Strat does not have only sharp eyes, he's very good at human nature too. And he can predict what you are doing miles away, but the only thing he can't predict is price, because we can only REACT to it. Make THE PATH your only way and your ways shall be smooth and easy. Happy Trading, Yomi.
Thank Yomi,
I can see you walk fast and steady on PASR path. Hope one day I can walk as same pace as you are doing now.
We don't see things as they are, we see them as we are.
  • #7,797
  • Oct 17, 2018 5:22pm Oct 17, 2018 5:22pm
Quoting strat
PASR {quote} Oh dear, Victoria. the words my dad said to me when I was young. He said 'you think you are clever so you can find a short cut but there is no short cut in life'. So do you think yourself so clever and so smart that you can ignore your Parents' advice? Looking back on my life and those of my relatives and friends, I can tell you with 100% certainty that our parents KNOW BEST! I have read the summary from your website once when I started. I started to read again last night. As I posted in one of my early posts to you, the ""summary""...
Thanks for spending time on me, Strat.

Totally agree with you about the parents' advice.

About the 'thinking', I meant I had new understanding about PASR when I read in the second time.

The best thing to give back to a teacher is to be the best student.
I am going back to study.
I will start to post when I practice.
We don't see things as they are, we see them as we are.
  • #7,798
  • Oct 17, 2018 9:54pm Oct 17, 2018 9:54pm
Quoting strat
PASR - THE PATH {quote} Thank you, huatzhi, you are a very smart person. Not wanting to take anything away from what you have posted and your valuable experience but there are many different ways to learn depending on a person's ability to absorb and apply information. JCMPete did, and is doing, his learning in a different manner so I am interested in his comments on this. I've been making the same mistake for past few days as well Please post so we can help
Hi Strat,

Let me think a bit about this before responding...

Regards
Pete
  • #7,799
  • Oct 17, 2018 11:31pm Oct 17, 2018 11:31pm
Quoting strat
CADJPY M15 {quote} Welcome, Val, to the light from the darkness! Thank you bistolis and Szpons for helping your fellow trader - TRADERS HELPING TRADERS
Thank you all for taking the time to look at my posts!
I'v been trading for a while now and I am already seeing good results just by reading the second thread and the PDF. I admit I didn't read the first thread but I'll get on it right away and get back with other trades after I'm done reading both threads end to end.
Thanks again and good pips!
Val
  • #7,800
  • Oct 18, 2018 7:33am Oct 18, 2018 7:33am
CADJPY

Quoting BeyondTheSea
CADJPY - UPDATE At least for a crappy boring trade we should learn from it just as we should with them all. Turbo-snail got the better of me and I closed it for a small profit. I trade live because; try as i might to paper trade I just do not analyse or read the trades as I would with real money. Don't risk money if you haven't got any but if you do and you are wired like me (not weird, that's too much to ask) don't spend too long paper trading because it's a totally different and immersive experience when skin is in the game, however small. However...
I am curious why you consider your first entry as "crappy" - it was CLASSIC PASR. The only thing going against it was the R:R of
1:1

Attached Image (click to enlarge)
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15 YEARS OF PASR ON FOREX FACTORY!
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