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Strat's PASR Long Term, Stress Free Trading

  • #7,881
  • Oct 22, 2018 12:44pm Oct 22, 2018 12:44pm
Quoting Humbucker
Hi All Sorry been away doing the 'family stuff' I mentioned. My son was born 2 weeks ago, and my new job starts in a month. Currently i'm planning a transition from M5 to long term PASR to cope with the demands of my new family/work life. Ima write me a PLAN! See you when I catch up on sleep!
congratulations
  • #7,882
  • Oct 22, 2018 1:12pm Oct 22, 2018 1:12pm
Quoting bistolis
{quote} Hi as has been written many times, start from the first page on each thread ( I still havent finished the first thread myself) and it will start making sense. You can identify a trend on the timeframe that you are going to work at(taking SR from higher frames) and just trade what is happening right now...
Appreciate it bistolis, that's more or less how I went about it. Taking SR levels from the higher timeframes and then trading the daily or even H4 with the current momentum at those levels. The issue for me is that the current momentum can be incredibly deceiving even when relying on PA confirmation to enter trades. You're at the mercy of larger and smaller movements and the inherent volatility of the forex market. I'm thinking this is where the bigboss/boss/worker philosophy comes in to combat the high chance of entering on a short term trend based on recent price action and running against a more potent and longer term move.

If you were to identify a downward trend on the daily for the past month ready to sell on a failed retest of a resistance level you may unknowingly be selling into a long term upward move waiting to continue its bullish ascent. But even if you identified this year-long uptrend, it could very well just be a small move up in an even larger downtrend lasting 2+ years.

So in setting up a strict trading plan, I'm keen on clearly defining how far back to look for long/mid/short term trends in order to know whether the current momentum I'm jumping on aligns itself with previous price action. As is said in the first page and emphasized numerous times, the direction is taken from the "big boss" and "boss" and seeing how choosing direction for a trade is incredibly important in giving a trader his edge, I think it's helpful to get this part of trading PA as close to an exact science as possible and not susceptible to variation per trade. It's not very helpful to define the big boss as the monthly or weekly time frame but rather a period of time.

If you're profiting consistently from just trading price action in the direction of the most short-term movement on M15/H1/H4 then I'm truly at a loss for words. I'm just wondering if it's possible to maintain that level of consistency through all market conditions and for years to come.

Thanks
  • #7,883
  • Edited Oct 23, 2018 2:08am Oct 22, 2018 2:16pm | Edited Oct 23, 2018 2:08am
Quoting krecci
{quote} Appreciate it bistolis, that's more or less how I went about it. Taking SR levels from the higher timeframes and then trading the daily or even H4 with the current momentum at those levels. The issue for me is that the current momentum can be incredibly deceiving even when relying on PA confirmation to enter trades. You're at the mercy of larger and smaller movements and the inherent volatility of the forex market. I'm thinking this is where the bigboss/boss/worker philosophy comes in to combat the high chance of entering on a short term...
I believe you are over-complicating things. There is only one thing you can worry about as it is the only thing you can control: how much you are going to lose on each trade.
Once you get past this, the rest is easy to grasp (at least it gets easier)

deleted

I am not consistently profitable yet. I am getting there slowly, on my own pace
  • #7,884
  • Oct 22, 2018 2:34pm Oct 22, 2018 2:34pm
Quoting bistolis
{quote} I believe you are over-complicating things. There is only one thing you can worry about as it is the only thing you can control: how much you are going to lose on each trade. Once you get past this, the rest is easy to grasp (at least it gets easier) This might help. {image} I am not consistently profitable yet. I am getting there slowly, on my own pace
Oh, I see you posted the pdf I created some time ago. I've got an updated version now, I will upload it in near future!
  • #7,885
  • Edited 9:00pm Oct 22, 2018 3:00pm | Edited 9:00pm
PASR THE PATH

Quoting bistolis
{quote} I believe you are over-complicating things. There is only one thing you can worry about as it is the only thing you can control: how much you are going to lose on each trade. Once you get past this, the rest is easy to grasp (at least it gets easier) This might help. {image} I am not consistently profitable yet. I am getting there slowly, on my own pace
All,

THERE IS NO SUBSTITUTE FOR READING, LEARNING AND UNDERSTANDING FROM POST 1 ON https://www.forexfactory.com/showthread.php?t=155459

THEN, HAVING UNDERSTOOD AND APPLIED WHAT YOU HAVE LEARNED ON THERE, READ, LEARN AND UNDERSTAND FROM POST 1 ON THIS THREAD.

If you don't know the importance of this, read Post 7836 and keep reading until you do!

The pdf and my Core System Overview is ONLY a summary of PASR THE PATH and is NO SUBSTITUTE FOR READING, LEARNING AND UNDERSTANDING FROM POST 1 ON BOTH THREADS.

This pdf will now be REMOVED from Post 1 since it is allowing lazy hobby traders, lurkers and "Get Rich Quickies" to take short cuts.
15 YEARS OF PASR ON FOREX FACTORY!
  • #7,886
  • Oct 22, 2018 3:01pm Oct 22, 2018 3:01pm
PASR THE PATH

Quoting Svolacius
{quote} Oh, I see you posted the pdf I created some time ago. I've got an updated version now, I will upload it in near future!
Thank you but NO, Augustas.
15 YEARS OF PASR ON FOREX FACTORY!
  • #7,887
  • Oct 22, 2018 10:23pm Oct 22, 2018 10:23pm
The Human Brain

Excerpt from a book I have been reading "Mastery" by Robert Greene


"… To become such sensitive observers, we must not succumb to all the distractions afforded by technology; we must be a little primitive. The primary instruments that we depend on must be our eyes for observing and our brains for analyzing. The information afforded to us through various media is only one small component in our connection to the environment. It is easy to become enamored with the powers that technology affords us, and to see them as the end and not the means. When that happens, we connect to a virtual environment, and the power of our eyes and brain slowly atrophy. You must see your environment as a physical entity and your connection to it as visceral. If there is any instrument you must fall in love with and fetishize, it is the human brain, the most miraculous, awe-inspiring, information processing tool devised in the known universe, with complexity we can't even begin to fathom, and with dimensional powers that far outstrip any piece of technology in sophistication and usefulness."


This book has been my project while away from the charts these past two weeks.

Strat has been telling us this for hundreds of posts in the two threads.

Have a good week all.
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #7,888
  • Oct 22, 2018 11:29pm Oct 22, 2018 11:29pm
Quoting strat
PASR THE PATH {quote} Thank you but NO, Augustas.
Understood, Strat. I did not think about the short-cut takers and hobby traders that come to visit this thread. All I wanted was to share a memory-refresher for those who are on The Path and want to go over the material again that they have already learned and understood.
  • #7,889
  • Oct 23, 2018 1:14am Oct 23, 2018 1:14am
Quoting JCMPete
End goal - Either become a profitable trader or give it up entirely - no more time spent teasing myself with maybe this or that.
Thanks Pete for this great post. For me, the sentence above is (maybe) the most important one. I always compare this with a marathon: we are all on a LONG LONG run. And hopefully we will reach the finish (meaning here: becoming a consistantly profibale trader).
Thanks again...
  • #7,890
  • Oct 23, 2018 1:31am Oct 23, 2018 1:31am
Quoting strat
AUDCAD H1 {quote} Good to see you are finally on THE PATH You have good feedback from Rub, huatzhi and BTS - TRADERS HELPING TRADERS Learning from my previous post with a trade (and reading the first thread) I realized that I didn't put PASR first, so no more charts without resistance and support from now on; the black horizontal lines are big boss r/s and magenta are boss r/s Good. We don't need all the history of support and resistance to trade but we do need to PRACTICE identifying support and resistance. Big Boss (D1) - while in an overall downtrend,...
Thank you Strat!
Your how whole reply which is a lesson in itself; I just had a couple of light bulbs lit in my head; let's see if I am able to learn..
I will definitely reassess how I do my r/s analysis; I always felt my targets are ambitious but this had to do with the way established my r/s levels

Also thank you Rub, huatzhi and BTS!
Val
  • #7,891
  • Oct 23, 2018 2:16am Oct 23, 2018 2:16am
Quoting strat
PASR THE PATH {quote} All, THERE IS NO SUBSTITUTE FOR READING, LEARNING AND UNDERSTANDING FROM POST 1 ON https://www.forexfactory.com/showthread.php?t=155459 THEN, HAVING UNDERSTOOD AND APPLIED WHAT YOU HAVE LEARNED ON THERE, READ, LEARN AND UNDERSTAND FROM POST 1 ON THIS THREAD. If you don't know the importance of this, read Post 7836 and keep reading until you do! The pdf and my Core System Overview is ONLY a summary of PASR THE PATH and is NO SUBSTITUTE FOR READING, LEARNING AND UNDERSTANDING FROM POST 1 ON BOTH THREADS. This pdf will...
I removed it from my post. readers can find the information throughout the posts on the threads anyway

thanks
  • #7,892
  • Oct 23, 2018 8:37am Oct 23, 2018 8:37am
NZDUSD (Coming soon papertrade?)

BB
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Bearish immediate trend. In price history, price generally will hit another SR if one is crossed. August was a BEEB.

B
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Past 2 weeks are retracements. While last 2 candle are bullish, the gapped up could be causing seller coming back? Seller is still in control with the WCC.

W
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Waiting for PASR setup. Not the most volatile pair though.
  • #7,893
  • Oct 23, 2018 9:22am Oct 23, 2018 9:22am
PASR THE PATH

Quoting Svolacius
{quote} Understood, Strat. I did not think about the short-cut takers and hobby traders that come to visit this thread. All I wanted was to share a memory-refresher for those who are on The Path and want to go over the material again that they have already learned and understood.
Your intentions are very good, Augustas. Maybe share it by PM but ONLY with students on THE PATH?
15 YEARS OF PASR ON FOREX FACTORY!
  • #7,894
  • Oct 23, 2018 9:23am Oct 23, 2018 9:23am
PASR THE PATH

Quoting bistolis
{quote} I removed it from my post. readers can find the information throughout the posts on the threads anyway thanks
Thank you, much appreciated.
15 YEARS OF PASR ON FOREX FACTORY!
  • #7,895
  • Oct 23, 2018 10:25am Oct 23, 2018 10:25am
Hi Strat,

First of all i want to thank you for starting this thread (and the old one of course i.e. teaching your PASR system to us).

I just came across it a little bit more than a week ago. I started by reading the PDF and the Index on your old website to get a overview what this is all about. After that i started reading the first thread, and was able to read 1/3 till now, but the rest will take me somehow longer since I don't have that much free time now. (which is a pity)
This is the first thread I'm really confident about to help me get consistently profitable in a longterm view.
I have already come across J16 before, and while i find his style is somehow similiar (PA around SR), this thread is way more better in learning by reading through the pages (AND OF COURSE the support of the community here) - the J16 thread seems sometimes quite random to me.

I'm already trading minimum positions with respect to what I've learned till now (i know I shouldn't - as written by you often), but I just feel more focused on learning if I'm actually using everything i have already learned in live trading - i know it will be a rather long journey until I will become consistently profitable over time - but I'm willing too read, learn and practice as long as required.

THANKS again!
https://twitter.com/BeauBuyer
  • #7,896
  • Oct 23, 2018 11:00am Oct 23, 2018 11:00am
NZDUSD

Quoting huatzhi
NZDUSD (Coming soon papertrade?) BB {image} Bearish immediate trend. In price history, price generally will hit another SR if one is crossed. August was a BEEB. B {image} Past 2 weeks are retracements. While last 2 candle are bullish, the gapped up could be causing seller coming back? Seller is still in control with the WCC. W {image} Waiting for PASR setup. Not the most volatile pair though.
TIP:

When reviewing NZDUSD, always include AUDUSD as they almost always move together since they are both commodity currencies from "down under".
AUDUSD "normally" leads NZDUSD unless there is adverse Kiwi "news". If trogger was well enough, he would tell us much more about their relationship.

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15 YEARS OF PASR ON FOREX FACTORY!
  • #7,897
  • Oct 23, 2018 11:13am Oct 23, 2018 11:13am
Quoting BeyondTheSea
{quote} Good trades and and good trade management. Keep doing these and don't worry too much about the losing trades; it's part of the business. Your trade management was OK I thought. My H4 AUDCAD entry was 3 days after yours with a 2nd touch of the WCC and resistance from the 200 . It was news that took it out and could have gone either way. Looking back I had 3 candles telling me to close it at profit but I'm OK with it because I can't get every trade right. It's one of thousands. Continue to accept the loss before you trade it and exercise discipline,...
Thanks a lot for your comments, BTS! Please, keep posting as I learn a lot from your posts
IF IT DOESN'T FEEL RIGHT - IT'S NOT RIGHT!
  • #7,898
  • Oct 23, 2018 11:33am Oct 23, 2018 11:33am
Hello Strat,

Just a quick one to say thank you, I have been on the old thread for a while making sure i'm not flash reading but reading and understanding the PATH.

Its amazing that you have kept on teaching us for such a long time "what a commitment !!".

And your method of teaching is fantastic, because it feels so much better when we figure out the answers ourselves, from what I would like to call your pointings in the right direction.

I know I have been a lurker for a while but by my nature i don't like asking questions that has been answered a few times.

And if you have spent all that time teaching, answering questions, reviewing everybodies trade, " WOW 9,864 Posts " (which by the way you did not have to do), the least I can do is to read and understand everything you have written completely before asking any stupid questions.

I am almost haif through the old thread and will start sharing and posting my doubts if any very soon.

So I'm officially registered on the PATH.

This little nonsense is just to say A BIG ThanK YOU.
  • #7,899
  • Oct 23, 2018 12:10pm Oct 23, 2018 12:10pm
Quoting Eurotrader17
{quote} Thanks a lot for your comments, BTS! Please, keep posting as I learn a lot from your posts
No problem and thank you for the acknowledgement. I'm currently working excessive hours and will post when I can which is now on Fridays and normally over the weekend.. this has also altered my trade plan so now take longer to close (and I'm getting more selective!) sorry for not posting more charts..
Private Msgs are turned off to weirdos, loafs and brain drainers
  • #7,900
  • Oct 23, 2018 12:13pm Oct 23, 2018 12:13pm
Quoting strat
PASR THE PATH {quote} All, THERE IS NO SUBSTITUTE FOR READING, LEARNING AND UNDERSTANDING FROM POST 1 ON https://www.forexfactory.com/showthread.php?t=155459 THEN, HAVING UNDERSTOOD AND APPLIED WHAT YOU HAVE LEARNED ON THERE, READ, LEARN AND UNDERSTAND FROM POST 1 ON THIS THREAD. If you don't know the importance of this, read Post 7836 and keep reading until you do! The pdf and my Core System Overview is ONLY a summary of PASR THE PATH and is NO SUBSTITUTE FOR READING, LEARNING AND UNDERSTANDING FROM POST 1 ON BOTH THREADS. This pdf will...
I wouldn't jump to conclusions on anyone here or assume this is the sole resource for price action trading on the internet, there are plenty of traders that have been on the path for decades and have never even visited FF or similar sites. In addition to various other sites and videos on PA, I took a look at both main posts and hundreds throughout both threads before deciding to trade real money. I found a lot of the word salad to be repetitive and unhelpful but there are gems to be found for sure.

"This is part of learning and a stage where every doubt and question must be resolved"

In my stage of questioning, I come now to see if any other traders use a concrete and non varying method in assessing short-term and long-term trends. Surely if we're looking at the same price action of the same currency, we can differentiate a good trade from a bad trade and agreeing on how price is trending and has trended in the past is a good first step to get there.

Perhaps I am overthinking this step in my trading plan but I much prefer to overthink now and take the winning edge, stress-free trade later. I'm curious on the entry conditions some here use and whether current momentum is all the assurance needed to pull the trigger. A clear definition on what constitutes a good and bad trade will make trading far less emotional and help highlight mistakes due to the planning or execution rather than variable feelings. I feel that the reason I broke even rather than profiting this past year is due to a lack of clarity on where price is truly moving and on observing past trends (which ones and how far back?).
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