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Strat's PASR Long Term, Stress Free Trading

  • #8,461
  • Nov 7, 2018 9:03am Nov 7, 2018 9:03am
Quoting HappyTrend
{quote} Hahaha nice! Fishing the Positive Points?
When I was "learning" from the trading literature, seeing all of those perfect examples, made me want bigger and bigger moves with targets in "dream land" as Strat told me once..
This poisoned my head (I'm still fighting addiction, I'm a recovering greedaholic) for a long time, tying to be perfect, to capture big moves.. to be a "real" trader..
So I told myself "hey, this is like a fish, you're not crazy about tails and heads, just enjoy the meat, enjoy the fillet, let the head and tail to those that like soup or stock..."; to me this lit a bulb in my head so I figured I'd share the mental picture, maybe it helps others.


The trade might continue to go down but I got out at H4 support confluence; if it does, no big deal, I'm a happy camper.. plenty of fish...
Val
  • #8,462
  • Edited 11:06am Nov 7, 2018 9:17am | Edited 11:06am
USDJPY

Quoting SPATrading
Update on the USDJPY trade based on PASR. Price action reached the first concern level where I banked 1/2 of the entire long position. The SL of the remaining position was moved below the low of today's candle making the trade stress free. Stress free to explore the possibility of higher price levels. I apologize for the mobile screenshots as I am away from my office. If it is a problem then I will remove them. Michalis {image} {image}
Update on the USDJPY trade based on PASR.

No way is this PASR!

I apologize for the mobile screenshots

PASR traders trade to live. Trading on a mobile phone tells me you LIVE TO TRADE.

From Strat's Mantra in 2009 on Post 1 of https://www.forexfactory.com/showthread.php?t=155459

We TRADE TO LIVE. We are NOT like others who LIVE TO TRADE.

We know trading is NOT a "Get Rich Quick Scheme".

We know trading is a serious business and WE treat our trading as a SERIOUS BUSINESS

We are PROFESSIONALS and PROFESSIONALS look for a reason NOT to take a trade

We are NOT Amateurs. Amateurs manage money by taking RISK. PROFESSIONALS manage RISK by taking money.

I was trading for many years on naked charts using price action at S/R. I paused trading for 2.5 yeas due to obligations in real economy.

The real truth is more like you went broke trading 1 standard lot on Mickey Mouse trades!

Unless you are prepared to read, learn and understand PASR from Post 1 on both threads, find another thread to throw your money away on.
15 YEARS OF PASR ON FOREX FACTORY!
  • #8,463
  • Nov 7, 2018 9:37am Nov 7, 2018 9:37am
AUDCAD

Quoting HappyTrend
{quote} Hello Strat, sorry for the delay of my reply. Remember this post: https://www.forexfactory.com/showthr...5#post11648805 My entry in AUDCAD 360m {image} 1440m {image} ********************* Well in almost the same place where i took profit, i re-entry again for learning the Boss Swing in a "live trade"... As i said before.. i come from tick charts to where i am right now. So i need to practice the patience of the Boss Swing. My question is: where to close the trade? Trading the Boss Swing i have notes about two things:...
where to close the trade?

I don't know. Sorry if you think this ambiguous but each trade is unique and must be traded and managed on its own merits on a case by case basis. In addition, your RISK tolerance and REWARD requirements may be greater than mine and, to repeat one more time, you can't trade like me just like I can't trade like anyone else.

What I can tell you is that when I am trading the Boss Swing on the Worker, I get out anywhere within the red rectangle. You should know what that red rectangle represents. I never try to get out at the top or bottom and have only managed it a few times in all these years and that was by LUCK rather than trade management.

If you are asking this question then you must not have a PLAN or if you have a PLAN it is not complete. As I have posted so many times, PASR teaches you to have a complete irrevocable PLAN which details entry and EXIT along with all your analysis, evaluation and decision making notes.

Finally, just like learning PASR and everything in life, the more you practice doing this the better you will become and know, for yourself what to do.

Attached Image
15 YEARS OF PASR ON FOREX FACTORY!
  • #8,464
  • Nov 7, 2018 9:48am Nov 7, 2018 9:48am
Quoting strat
AUDCAD {quote} where to close the trade? I don't know. Sorry if you think this ambiguous but each trade is unique and must be traded and managed on its own merits on a case by case basis. In addition, your RISK tolerance and REWARD requirements may be greater than mine and, to repeat one more time, you can't trade like me just like I can't trade like anyone else. What I can tell you is that when I am trading the Boss Swing on the Worker, I get out anywhere within the red rectangle. You should know what that red rectangle represents. I never try...
Yes, i had a Plan... but i decide to trade it as a "boss swing" and im learning trading it. (and for the Boss Swing, i dont have a solid plan for that)

Watching that red rectangle looks like to me, is better take profit with short term start turning and in boss swing we can see in a doji candle. More or less is what i was thinking about it.

Thank you.
  • #8,465
  • Edited 11:24am Nov 7, 2018 10:06am | Edited 11:24am
GBPCAD M5 Basic PASR

A quick 43 pips in 40 minutes - makes a nice change!

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15 YEARS OF PASR ON FOREX FACTORY!
  • #8,466
  • Nov 7, 2018 10:09am Nov 7, 2018 10:09am
PASR THE PATH

Quoting SPATrading
{quote} I just monitor the trade and nothing else. My analysis and trade plan were done on a proper computer screen.
PASR traders do NOT monitor trades on the Daily chart. Shows how little you know about PASR!
15 YEARS OF PASR ON FOREX FACTORY!
  • #8,467
  • Nov 7, 2018 10:11am Nov 7, 2018 10:11am
Quoting fxmarvel
{quote} The first couple of arrows look a bit ambitious to me.. do you have Boss, Big Boss correlation? While the third one worked out, I think it is best to wait for a pullback (5-6 candles later)
Both BB and Boss were down with Boss within a WCC. This would be a counter trend basic PASR trade from bottom of WCC to its top.
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  • #8,468
  • Nov 7, 2018 10:13am Nov 7, 2018 10:13am
Quoting Fxentropy
{quote} You made me smile before having my morning coffe. Thanks for that. No, i'm not in any way confused, seems to me that you are on criticism mode onto my favorite quotes rather than my trading. Its ok for me, only let me enlight you about that .. My favorite trading quote came from a book someone gave it to me 2 years ago and found it very instructive as the words came from a man who been in the Pits for all his life. And his advice refer especially to his trading style which was scalping. Here is the ebook: Phantom of the Pits -...
the words came from a man who been in the Pits for all his life.

My father in law and all his brothers worked in the Pits in South Wales - I dare not repeat what he said about that!
15 YEARS OF PASR ON FOREX FACTORY!
  • #8,469
  • Nov 7, 2018 10:19am Nov 7, 2018 10:19am
Quoting huatzhi
{quote} Price just resisted 4 times around SR 113.72 recently. Currently it is kind of moving in side way despite the BUEB candle last week. - This is a potential wobbling area. Feb~Mar 2016, Feb 2017 and Dec 2017 had shown that price is behaving directionless for periods of time around here. .

Hi Huatzhi

To me this is quite an important observation. In essence, except for one or two excursions to the downside price has been oscillating sideways between 110 ish and 113 ish for just about two years now.

Regards
Pete
  • #8,470
  • Nov 7, 2018 10:24am Nov 7, 2018 10:24am
EURNZD

Quoting brian661
{quote} EURNZD Close first position for 180pips, at first target on support and 200EMA and an re-entry for 40pips, exited few candle later as I saw the price is consolidated at H4 and not able to from lower low. (wanted to close half but by mistake closed all, so re-entry) Although it is in profit, I feel upset because I did not follow the PA before I exit. As I am trading on Monthly, Weekly , Daily, I should monitor my trade on Worker (Daily). {image} {image}
I will not say "good job, Brian" but I will say "good experience, Brian"

So you found out the hard way why NOT to trade H4 when you enter on the Daily. I do not know how many times I have written this but it all confirms the saying "You can lead a horse to water but you can't make him drink" or:

Attached Image


You should also have learned that re-entering a trend is not as easy as it seems.

Make sure NOT to repeat these mistakes
15 YEARS OF PASR ON FOREX FACTORY!
  • #8,471
  • Nov 7, 2018 10:28am Nov 7, 2018 10:28am
Quoting strat
GBPCAD M5 PASR Trend Trading A quick 43 pips in 40 minutes - makes a nice change! {image}
I thought you only traded M5 "Looking for New York to continue the direction set by London. If the trend does not continue in New York, It is a no trade - no questions asked."

Are you starting to take London sessions reversals on M5?

Regardless nice trade! I had a SL on M15 USDCAD.
Successful people do what unsuccessful people are not willing to do
  • #8,472
  • Nov 7, 2018 10:29am Nov 7, 2018 10:29am
Quoting strat
{quote} the words came from a man who been in the Pits for all his life. My father in law and all his brothers worked in the Pits in South Wales - I dare not repeat what he said about that!
You mean what they said before or after 5h00pm ? hehehe.....

I know what you mean :-)

btw, good trade on GBPCAD !

One question if you dont mind: How many pairs you watch?
"What would you attempt to do, if you knew your success was a certainty?"
  • #8,473
  • Nov 7, 2018 10:38am Nov 7, 2018 10:38am
AUDJPY

Quoting brian661
{quote} Thanks for everyone who comment on my analysis, I am doing wrong on this trade as I did analysis on long time frame but enter at H1 (Luckily I am able to exit at break even). I should wait for the confirmation of the higher time frame before I jumped in to the PA on low time frame
I am doing wrong on this trade as I did analysis on long time frame but enter at H1

AGAIN?

Are you sure you are on THE PATH?
15 YEARS OF PASR ON FOREX FACTORY!
  • #8,474
  • Nov 7, 2018 10:43am Nov 7, 2018 10:43am
USDCAD M5 PASR Trend Trading

Quoting fxmarvel
USDCAD M5 Eating "THE MEAT"... and the head.. {image}
Finally, someone who read and put into practice my "MEAT TRADING" strategy in PASR Trend Trading.

Not too sure about the fish though.
15 YEARS OF PASR ON FOREX FACTORY!
  • #8,475
  • Nov 7, 2018 10:44am Nov 7, 2018 10:44am
Quoting brian661
{quote} Thanks for everyone who comment on my analysis, I am doing wrong on this trade as I did analysis on long time frame but enter at H1 (Luckily I am able to exit at break even). I should wait for the confirmation of the higher time frame before I jumped in to the PA on low time frame

I have been there... I come from Tick Charts to 360m - Monthly Charts.....

If you are trading in Metatrader, i think you can customize the timeframes and remove the lower timeframes... Just put 240m 1440m Weekly and Monthly. Then your "Fast Chart" is 240m and you can pick lower because u cant see them.

But for see 240m, minium u need to see a PASR in Worker. Then, look Worker and when u see an Entry, change to your fast chart for see with a better zoom in what is going on in that zone.
  • #8,476
  • Nov 7, 2018 10:47am Nov 7, 2018 10:47am
Quoting strat
USDCAD M5 PASR Trend Trading {quote} Finally, someone who read and put into practice my "MEAT TRADING" strategy in PASR Trend Trading. Not too sure about the fish though.

I think that fish with that "BEARish" trade.

Is this:

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  • #8,477
  • Nov 7, 2018 10:57am Nov 7, 2018 10:57am
EURJPY

Quoting TerryDawe
{quote} A few of the "lot" provided their views on Strat's query and I wonder if anyone followed up with long positions on this pair. This is not one of the highest volatility pairs but since Strat's post, price on the H4 has moved up in a classic manner following the shadow and responding at S/R levels. Total to date 200+ pips, not including add-ons. {image}
Thank you, Terry - at least you recognised my ""signal""

I wonder if anyone followed up with long positions on this pair.

Since no-one posted their trades, I guess no-one did.

The Boss is still chugging away slowly in its UP Swing with the Worker doing as it is told.

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15 YEARS OF PASR ON FOREX FACTORY!
  • #8,478
  • Edited 11:34am Nov 7, 2018 11:23am | Edited 11:34am
M5 PASR Trend Trading

Quoting TampaFX
{quote} I thought you only traded M5 "Looking for New York to continue the direction set by London. If the trend does not continue in New York, It is a no trade - no questions asked." Are you starting to take London sessions reversals on M5? Regardless nice trade! I had a SL on M15 USDCAD.
Sorry for the confusion.

Hopefully you remember me posting many times on my old 2009 original thread "Do as I say, not as I do".

There is no change to my M5 PASR Trend Trading strategy and is, as you copied, "Looking for New York to continue the direction set by London. If the trend does not continue in New York, It is a no trade - no questions asked."

I should not have posted it as "Trend Trading" in fact, I should not have posted it at all since it conflicts with what I teach. I was pleased to profit from an M5 trade that only lasted 40 minutes which is why I really posted it. I will edit it to show just M5 Basic PASR as I agree it will confuse many.

Again, please remember I have considerable experience trading and specifically PASR and, when things are quiet, cannot refuse any type of PASR trade on any time frame.
15 YEARS OF PASR ON FOREX FACTORY!
  • #8,479
  • Nov 7, 2018 11:32am Nov 7, 2018 11:32am
PASR THE PATH

Quoting Fxentropy
{quote} You mean what they said before or after 5h00pm ? hehehe..... I know what you mean :-) btw, good trade on GBPCAD ! One question if you dont mind: How many pairs you watch?
Wow, a French man with a sense of humour - quelle horreur!

How many pairs you watch?

Are you trying to get me into trouble? (There are ladies on here!)

If you are talking about Forex, I watch all 28 pairs for long term trades and the top 8 or 10 on my Volatilty List for M1 and M5 trades.
15 YEARS OF PASR ON FOREX FACTORY!
  • #8,480
  • Nov 7, 2018 12:05pm Nov 7, 2018 12:05pm
Quoting strat
PASR THE PATH {quote} Wow, a French man with a sense of humour - quelle horreur! How many pairs you watch? Are you trying to get me into trouble? (There are ladies on here!) If you are talking about Forex, I watch all 28 pairs for long term trades and the top 8 or 10 on my Volatilty List for M1 and M5 trades.
Is this a valid entry for M5?
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"What would you attempt to do, if you knew your success was a certainty?"
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