Strat's PASR Long Term, Stress Free Trading

PASR THE PATH

please... dont think that im just those of "fake traders" who are in Forums for feed their ego, pride and all those crap things...

I can usually filter those fakers out so you are good - just maybe a bit "crazy"

In the Charts i put show the trade line... (in my other charts i hide it..)

Why? And why don't you post when you initiate the trades instead of after when the trade is finished? These are the usual signs of "fakers"

i hope you can continue helping me

You are an unusual challenge so no problem.

Good trading on NZDCAD

NZDUSD

Good, John but learn to tell the difference between a Shooting Star and a Gravestone Doji which this is. They both tell the same story at where PRICE is now but at other times, especially in faster moving pairs on shorter time frames, it could be a different story.

NZDCAD

Poker Man - I was wondering what happened to you - I thought our challenge was off and you had fallen by the way side!

two positions hit TP and managing the third.

Good - show us what you've got (said the actress to the Bishop!)

I run the serious risk of actually developing into a profitable trader..

It takes more than one profitable trade!

My way on THE PATH

Thank you, Markus, for posting your progress on THE PATH.

Thank you for the accolades but they are nothing to me compared to your progress. Your post is that of someone with abundant common sense and discipline - things not found in most "wannabe" traders.

Posting in the thread helped me also to accelerate my learning Progress

I am glad this helped you. It helps me too as I re-fresh the things I take for granted. If only all the "Lurker PASR students" would do the same.

I learned the following things knowing I still have to improve/work on it in the future:

 

1. Order of higher-time frames
2. Drawing/Using SR-lines (to find the footsteps of the big boys)
3. Power of the STRAT-shadow
4. Importance of the CLOSE of a price
5. WCC
6. Confirmated swings
7. PA candles ("seeing the trades")
8. "SEEING beyond the candles"

I still have to improve/work on these which is why I spend about 6 to 8 hours everyday on charts.

Another very important point on my way on THE PATH: I met my LITTLE PEOPLE!

Make sure you make "friends" with them but don't invite them to "party" with you. Above all, KNOW how to deal with them - they are the ones who make the difference between us being "consistently profitable" or being an abject failure.

Finally I will say that in my opinion I really made a few steps in the right direction.

No, you have made many steps and much progress on THE PATH - do not under-estimate the journey you have taken.

I am also impressed by the TRADER HELPING TRADERS mentality. Everyone is willing the helps the others.

For some reason, this is becoming less as fewer are willing to do this. I have started "holding off" from answering posts so that others can share their view.

The only thing missing, Markus, is a list of your "weaknesses" and what you need help with. What I suggest for you is to start trading long term since your M5 trading is only "trend trading" which is one of many PASR strategies.

Well done, Markus.

sorry for the long text and potential orthografic mistakes

You can write as much as you like as it is all relevant and interesting. As for orthografic mistakes - who cares? We know what you mean and.......... you would never understand me if I was to write in German!

Forex brokers

Since volatility is very low and erratic today meaning no M1/M5 trading for me, I had time to put a few of my "paranoia" concerns with brokers together.

In my 17+ years of trading forex, I have seen forex brokers come and go and more recently, the appearance of “scam” brokers so I am, more than ever, suspicious (paranoid) of any forex broker suddenly appearing out of nowhere.

I was very spoiled with my previous broker before the FXCM fraud here in the US. I had been with an “introducing” broker to FXCM for many years. They were local to me in Southern California so that I could visit them in their offices where I became friendly with their President and Technical Software Manager, needing no appointment to meet with them. They told me many horror stories of how brokers scammed their Clients and assured me they were nothing like that and totally “up front” with their Clients.

I trusted them to the extent that at one point, I had seven five figure accounts with them. I later reduced this to just two large five figure accounts. I never had a problem with anything with them and was shocked to learn that they too, were part of the FXCM USA fraud.

The recent SNB manipulation of their CHF caused many brokers to go bankrupt, among them some large well known names like Alpari etc.

This alone, warns me off brokers.

Since then, I have not found a broker I can “trust” that I dare place a five figure account with, bearing in mind that, because of FIFO, I have to have 2 accounts.

The things that I do not have reassurance (paranoia) from current brokers are, in no particular order:

Are brokers sufficiently capitalized for their Clients and trades they make? (Alpari and others were not!) Volatility wipes out under capitalized brokers.

Do they have strict Risk and Money Management procedures AND do they practice them?

How did they survive the 2008/2009 financial crisis?

What insurance do they carry for their Clients in the event of bankruptcy/liquidation?

What is their leverage policy?

High leverage, greater than 10:1 was always a problem for me although the US has restricted it to 50:1 Higher leverage favours the broker NOT the trader.

High spreads

What is their Spread/Commission structure – variable, fixed or percentage?

Does the broker “hold” orders to widen the Spread?

What are their Spreads during high volatility and outside normal trading hours?

High commissions

Is the broker racking up commissions at the trader’s expense? Called “churning”

Are they a “Dealing Desk” or a “Straight Through Processing” broker?

Does the broker have strict margin rules?

What is their margin policy?

Does the broker “offset” my trades?

Do they charge for “pip hunting”?

Do they “mark up” trades?

Do they keep “re-quoting” prices?

Do they engage in “Stop Hunting”?

Do they “nickel and dime” their Clients?

Do they have “hidden costs”?

Do they charge “inactivity fees”?

Are their “Swap Rates/Interest Fees” as per the respective Central Bank rates/fees or are they “marking them up”?

For some brokers, trading is not a “zero sum” business – they increase commissions with increased trading volume. They ALWAYS win at the expense of their Clients.

Do they have “long term” profitable Clients?

Do they have “large account” Clients?

Have they ever “boycotted” or sued their Clients?

Does the broker have a good reputation? Can they show and prove it?

Have they ever had Legal Action against them? Have they any outstanding Legal Actions?

No “real” recommendations from Clients

Can they demonstrate honesty, credibility, integrity, trust etc?

Arbitrarily moving quoted rates to trigger Stop orders

Will they guarantee Stop and Limit order fills or hit me with “slippage”?

Do I have a relationship with the broker? Can I build a relationship?

Do they have special rates for high volume/large account traders?

Is the broker readily available at any time? Forex is 24/7 so must ALWAYS be available?

Do they respond quickly to questions?

Do they resolve issues/problems quickly?

Do they dodge questions or give vague/unhelpful answers

Withdrawal of profits/accounts – ALL questions related to this

Are they US SEC/CFTC/NFA/FINRA Regulated?

Are they located and headquartered in the USA?

Is their website a sales pitch to lure unsuspecting traders in?

Does the broker have fast MT4 or do they promote their own trading platform?

Do they support MT4 technically and quickly resolve issues?

Will the broker honestly answer all these questions or will they just refer me to their terms and conditions?

Hey Strat (and fellows),

thanks for your reply. As you have said to me multiple times to first understand Basic PASR, then Swing PASR then Trend PASR - I follow your advice. I have now switched from reading the thread chronologically to working through it by specific topics - currently Basic PASR - and consolidating all information about the topic in a seperate presentation.

I need to improve my Basic PASR knowledge first. Then get confident trading it. And hopefully thereby minimizing greed and fear.

I had the idea of the mechanical system to overcome my lack of PASR knowledge. Last week would have been very successful by just trading my mechanical system and being satisfied with a RR of 1:1.2 on M5.

Speaking in percentages: I closed last week in profit with 0.7%. On the weekend I analyzed all my trades and if I would just have traded with my mechanical "profit taking exit strategy" I would have been up 5%. My conclusion was to better take profits early, getting 5%, while improving PASR further and in future get rid of that mechanical profit taking. I know, a week of Profit does not mean anything. My "sample data" of one week is just to small to make such conclusions.

As you have stated earlier: we should only consider monthly P/L and should be constantly profitable over the long run, not just one week. I maybe wanted to make a shortcut. Hopefully now back on THE PATH.

Nevertheless I will still get my feet into the market - but applying also my new constantly evolving knowledge about Basic PASR. Reducing M5 Trend PASR Trades, doing more of the Basic PASR on H1 and H4.

Happy weekend and have fun analyzing this week of trading.
Scrumy

Blegh. I even had it in my notes to look for a short and I missed this. It's not smack in the face obvious to me. Looks a lot like the NZD is weak in general though.

Anyway, I've just done my analysis for the week and thought I'd post a couple of charts that have my attention for the next week. Can't promise anything but I think it's worth keeping an eye on.

AUDJPY

BOSS



Worker



H4




Every Worker Candle Close is the time where im going to check the charts... include the H4 Charts..



Well.... In that I AGREE... Im Crazy, is the reason that im working hard in this profession... Because -> in me personal opinion <- Work as a Trader.. is not for everyone... only for the Hard and Crazy Mind!

My position was the previous day.

Thank you Strat.

Been having storms with power outages and internet dropping off these last few days. Hopefully things calm down soon.

Have a great weekend.

A weekend read that encapsulates how I see my journey on the Path

https://www.brainpickings.org/2014/1...-on-difficulty

Trading Psychology

More week-end reading

MT4 update on my computer. This is the results. Near as I can tell, it screwed up the MA ribbon. Any solutions?

Hi
change the color to none on the fastEMA

Thanks a lot for your kind words. Much appreciated.
Your are right. Next year I will also start focusing on longer time-frames and the other PASR strategies. So I take your advice.

That fixed it !!!

Thanks Bistolis

Thanks

Lurker checking in. I'm still reading the old thread, but I'm keeping up with this one to see the techniques applied on recent charts too.

As a relative newbie to forex I have lost a few hundred $$ to short tf strategies. But I realized very quickly my error because there was no consistency in the results, it just didn't make sense, I figured there must be a better way, and that's when I found these PASR threads that make much more sense.

I've read TITZ. I'm susceptible to wanting to be in the market (aka desperate to risk money for no good reason.)

I'll get back to studying charts and will post one later.

USDMXN Another Trade from 6 of December.

BOSS



WORKER



In Worker Chart i mark with an arrow and "Question*" there is a signal against of my entry. BUEB at StratShadow.. i didnt take any action because im taking note of everything... I didnt take any action because there is a big Resistance in there, my plan is leave the trade for the first important zone (bottom of WCC).

In my notes i have this questions:

1) BUEB against my trade in this situation... Can be better close my trade.. wait the next candle if continue going up, or reject.. And take a decision for re entry?

2) BUEB against my trade in this situation... Can be better close my trade, and put a sell limit bellow of that candle for if the price just stop at the top of BUEB and again going down and i can re entry.. ?

******************

Now if i decide to do both of the top... "lets imagine.." that im not in a trade.. The worker candle close inside of that BUEB that close showing a nice Buy at Strat Shadow... I can see all those buyers arriving at Resistance they take profit or Sellers start taking positions....


H4 Chart



In the H4 Chart showing the Buyers didnt archieve go Top and confirming a confirmed LH swing, closing bellow SS.
In daily Candle formed a shooting star but not a real one because is not at the top.. but i can see the price was arriving to resistance and in there start taking sell positions (or buyers tp)...

If i werent in a trade... i thinking to put a sell limit bellow of it.

***

Obviously i can be in a error in all my trades.. im taking notes... and well... now you can see that im working hard for be a profitable long term stress free trader... The Path wasnt easy for me jumping from tick charts (in a seconds watching new candles) to now: 86,400 seconds for one candle. Anyway i hope you can now believe me when i was posting my charts before.. in there was a real trades... as i told you before Strat, im not here to convinced anyone... im here for learn from you and be like you (I know that i cant be like you but i mean.. profitable long term without streess). Im enjoying this VERY LONG TERM of trading.

-> For the other students.. trading long term can help you to control your emotions.. i mean, if a trade hit your StopLoss... you have 24 hours for the next candle.. you have enough time for calm yourself and made ur decisions.... When trading fast charts and if you are hitting stoploss in a row that can affect too much in your trading <-

Thank you Strat and i hope next Year can be the YEAR!

Probably not much trading going on through the holiday period but if one were to look for a trade:

NZDCAD Boss confirmed swing down last week following a long legged doji last week.
NZDJPY Boss confirmed swing down last week.
CADJPY Boss BEEOB while in down swing.
EURUSD Boss BEOB last week while in down swing.
NZDUSD Boss confirmed swing down last week.
AUDJPY Boss BEOB (straddle) two weeks ago, now in a WCC.
EURAUD Boss BUEOB two weeks ago, now in a WCC.
AUDUSD Boss BEEOB two weeks ago, confirmed swing down this week and in a WCC.

There are those who do not consider a Boss confirmed swing while price is within a WCC but nevertheless they are confirmed swings so up to the individual what to do with these.