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Strat's PASR Long Term, Stress Free Trading

  • #10,661
  • Edited 11:43am Mar 4, 2019 11:30am | Edited 11:43am
Quoting darko2010
{quote} Hi everyone, and thanks to Scrumy for this amazing work. I have not deserted this thread, I just lost my way a few months ago and I feel too beaten down for the moment. My losses are, by any account, gigantic, to a point I thought impossible. Strat warned me against this time and time again, yet I thought I would be able to pace and control myself and carried on, letting my ego go wild. I have this sentence resonating in my head for some time now: there is no one to save you, it's your own responsibility. So I will do this, I will save myself....
Arno, folk lore has it that Robert The Bruce, King of Scotland, was defeated three times before eventually defeating the English

Perseverance, Desire and Determination will help you along THE PATH but you MUST exercise DISCIPLINE.

Make sure you know where you are on Strat's 5 Steps to becoming a consistently profitable Forex trader from experience.
15 YEARS OF PASR ON FOREX FACTORY!
  • #10,662
  • Mar 4, 2019 11:34am Mar 4, 2019 11:34am
Quoting strat
{quote} Arno, folk lore has it that Robert The Bruce, King of Scotland, was defeated seven times before eventually defeating the English Perseverance, Desire and Determination will help you along THE PATH but you MUST exercise DISCIPLINE. Make sure you know where you are on Strat's 5 Steps to becoming a consistently profitable Forex trader from experience.
Thanks Strat, I was on step 4 (walking on water), and now, I need a scuba just to breathe... so back to basics.
Lots of emotional issues in the last months, I shouldn't have used trading to give me a false sense of security, this only amplified them.
I hope you are well otherwise
  • #10,663
  • Edited 12:59pm Mar 4, 2019 11:36am | Edited 12:59pm
M5 and M1 PASR Trend Trading

Quoting huatzhi
M5 Speculation (Trade attempt) I tried to use a small real money account to practice. I am somewhat not prepare enough to follow this setup. Missed it though. {image} {image} Though after it happened, i checked back, There are enough pauses to get into the trend on M1. {image} M1 Trade Meanwhile there is another practice attempt on M1 as the M5 USDCAD trend already start without me. {image} (1) BUEB on Strat Shadow entry, simple and obvious (2) Hammer on support, confluence with last high, but I did not entry. Little people tell me about don't risk...
Very good, huatzhi

Do you remember me posting THE RULES for a TREND in my original thread? If not, go back and find them and then UNDERSTAND:

Attached Image


This means NOTHING in a TREND!

Attached Image


Very good!
15 YEARS OF PASR ON FOREX FACTORY!
  • #10,664
  • Edited 1:00pm Mar 4, 2019 12:12pm | Edited 1:00pm
PASR - THE PATH

Quoting LuisRicardo
{quote} I will give you my advice, because I was in that same position two weeks ago. I have lost all my money in 5M and 1M charts. Maybe for thinking that I risk little and win a lot, especially when I watch with jealousy what others did in those timeframes. But I realized that it is the opposite. I end up making more illogical trades surpassing the losses that I have had in higher timeframes. I had to accept that my lifestyle and personality does not allow me to trade in timeframes less than daily. And the H1 H4 are the most stressful of all,...
I have lost all my money in 5M and 1M charts. Maybe for thinking that I risk little and win a lot

That is not flawed thinking, Luis, it is FACT however, you have to UNDERSTAND the mind set of the Big Boys making PRICE move to achieve that. It sounds more like you thought you had found the Holy Grail of "Getting Rich Quick?"

I had to accept that my lifestyle and personality does not allow me to trade in time frames less than daily. And in the end I control the losses much better than I did in smaller time frames.

You are VERY SMART, Luis!

I currently have an open position in USDJPY

There were PASR GIFTS in all the JPY pairs

Attached Image (click to enlarge)
Click to Enlarge Name: a.PNG Size: 60 KB
15 YEARS OF PASR ON FOREX FACTORY!
  • #10,665
  • Edited 1:18pm Mar 4, 2019 12:24pm | Edited 1:18pm
EURJPY M5

Quoting Plateaus
EURJPY M5 Here is my try at 5min. Today I had this small winning trade on EURJPY and two break evens, GPBJPY and GPBUSD which already posted by Strat, so it was really good to compare and see where I was wrong. Strat, if you don't mind, I'll practice around this time as well as it fits my schedule adequately. {image} I think the entry was very clear with a lot of resistance from the shadow above. On the other hand, it looks like my exit was early, as price keeps going further down and my next support is on 126.43. best peter
Today I had this small winning trade on EURJPY

Good for a first try at Basic PASR but you got faked out by the Big Boys moving PRICE. If you are trend trading, you have to understand trends, how PRICE moves in trends, how PRICE moves in and around the Strat Shadow AND how the Big Boys think.

Strat, if you don't mind, I'll practice around this time as well as it fits my schedule adequately.

You don't need my approval - JUST DO IT! You have to get your thousands of hours trading PASR on thousands of charts in.

You might want to look for a different broker - 2 pips on EURJPY is way too much especially these days when brokers are very competitive.
15 YEARS OF PASR ON FOREX FACTORY!
  • #10,666
  • Mar 4, 2019 12:28pm Mar 4, 2019 12:28pm
Quoting bistolis
I have been watching streams of people trading lately when I am at work. Almost everyone was at some point or most of the time buying/selling against the trend. This is pretty much what happened {image} Not to mention the monetary outcome if they actually have been trading a live account {image}
I have been watching streams of people trading lately when I am at work.

I'm glad you didn't work for me - I would have fired you - 8 hours pay for 8 hours work and all that, old chap!
15 YEARS OF PASR ON FOREX FACTORY!
  • #10,667
  • Mar 4, 2019 12:36pm Mar 4, 2019 12:36pm
Quoting strat
{quote} I have been watching streams of people trading lately when I am at work. I'm glad you didn't work for me - I would have fired you - 8 hours pay for 8 hours work and all that, old chap!
To be honest I have my work on autopilot (most bureaucratic office positions are like that) and I can find alot of free time in between to follow my interests.
and some times I just want to kill some time watching streams and relax my brain.

i dont think anyone gets fired nowadays for watching youtube. they even provide us with extra monitors. I wonder how many use those for work. I bet not many
  • #10,668
  • Mar 4, 2019 12:37pm Mar 4, 2019 12:37pm
EURJPY M5

Quoting TerryDawe
{quote} If you zoom out to the slightly higher timeframes, you can see more clearly where price may be going. I have drawn a box around the most recent daily candle so it is acting as a controlling candle. On the H4, a nice shooting star formed at the top of that daily candle so a good signal there. Price has moved down over 60 pips since then. This is counter trend but most of the lower time frames are counter trend as price retraces before moving back in its original direction. {image} {image} {image}
Hi Terry, I know you are trying to help but I know what I am doing on M5 and M1 and what you have written here confuses me.

As I have posted many times, M5 has nothing to do with the Daily chart or the Daily candle. The Big Boys, the Market Movers, have their own agenda when they get to their charts which, more than anything, is predicated on what happened in the Asian session and for us New York traders, what happened in the London session.

I don't look any higher than M15 to weed out the potential for my M5/M1 trades
15 YEARS OF PASR ON FOREX FACTORY!
  • #10,669
  • Mar 4, 2019 12:38pm Mar 4, 2019 12:38pm
Quoting bistolis
{quote} To be honest I have my work on autopilot (most bureaucratic office positions are like that) and I can find alot of free time in between to follow my interests. and some times I just want to kill some time watching streams and relax my brain. i dont think anyone gets fired nowadays for watching youtube. they even provide us with extra monitors. I wonder how many use those for work. I bet not many
You can tell I have been out of the work place for a long time and also, how "old fashioned" I am!
15 YEARS OF PASR ON FOREX FACTORY!
  • #10,670
  • Mar 4, 2019 12:45pm Mar 4, 2019 12:45pm
Quoting darko2010
{quote} And while you are happy with 80 pips and get out for no reason, you realize you left over 300 pips on the table; Laziness...
And while you are happy with 80 pips and get out for no reason, you realize you left over 300 pips on the table;

Arno, you must stop thinking like this; this is what is frying your trading brain. Always BE HAPPY when you take PROFIT from the Market, it is a remarkable achievement considering 95% of traders are losing.

This is GREED kicking in - you must eradicate this from all your trading.

Laziness...

I disagree. I think it is FEAR of losing - you must eradicate this from all your trading.
15 YEARS OF PASR ON FOREX FACTORY!
  • #10,671
  • Mar 4, 2019 12:54pm Mar 4, 2019 12:54pm
Quoting strat
{quote} And while you are happy with 80 pips and get out for no reason, you realize you left over 300 pips on the table; Arno, you must stop thinking like this; this is what is frying your trading brain. Always BE HAPPY when you take PROFIT from the Market, it is a remarkable achievement considering 95% of traders are losing. This is GREED kicking in - you must eradicate this from all your trading. Laziness... I disagree. I think it is FEAR of losing - you must eradicate this from all your trading.
Strat, you are absolutely right in general, but in this particular case, I had a measly hammer in a trend and had I done the work, I shouldn't have cared.
So yes, it is partly fear of losing or gaining less, but work and discipline is what keeps us focused and on the trend.
Now, given how my losses stack up, taking pips is reassuring, but I also know the vicious circle of cutting positions too early.
Anyway, a positive day today, I will leave tomorrow's battles to tomorrow
  • #10,672
  • Mar 4, 2019 3:44pm Mar 4, 2019 3:44pm
Quoting strat
EURJPY M5 {quote} Hi Terry, I know you are trying to help but I know what I am doing on M5 and M1 and what you have written here confuses me. As I have posted many times, M5 has nothing to do with the Daily chart or the Daily candle. The Big Boys, the Market Movers, have their own agenda when they get to their charts which, more than anything, is predicated on what happened in the Asian session and for us New York traders, what happened in the London session. I don't look any higher than M15 to weed out the potential for my M5/M1 trades
Sorry about that Strat, I was trying to let him know that he doesn't need to go to the very low time frames to find good trades. Since I have been staying away from them, I thought I would share my views on the H1, H4 and Daily. It won't happen again.
  • #10,673
  • Mar 4, 2019 4:50pm Mar 4, 2019 4:50pm
Quoting TerryDawe
{quote} Sorry about that Strat, I was trying to let him know that he doesn't need to go to the very low time frames to find good trades. Since I have been staying away from them, I thought I would share my views on the H1, H4 and Daily. It won't happen again.
I was trying to let him know that he doesn't need to go to the very low time frames to find good trades. Since I have been staying away from them, I thought I would share my views on the H1, H4 and Daily.

That's OK, sorry for the misunderstanding, Terry.
15 YEARS OF PASR ON FOREX FACTORY!
  • #10,674
  • Mar 4, 2019 4:54pm Mar 4, 2019 4:54pm
USDCAD

That resistance is not strong enough for me to get my wallet out so I am waiting for further PASR to develop

Attached Image (click to enlarge)
Click to Enlarge Name: a.PNG Size: 66 KB
15 YEARS OF PASR ON FOREX FACTORY!
  • #10,675
  • Mar 4, 2019 10:46pm Mar 4, 2019 10:46pm
Quoting darko2010
{quote} Hi everyone, and thanks to Scrumy for this amazing work. I have not deserted this thread, I just lost my way a few months ago and I feel too beaten down for the moment. My losses are, by any account, gigantic, to a point I thought impossible. Strat warned me against this time and time again, yet I thought I would be able to pace and control myself and carried on, letting my ego go wild. I have this sentence resonating in my head for some time now: there is no one to save you, it's your own responsibility. So I will do this, I will save myself....
After ending last year up, I'm currently sitting on about a 12% draw down. I feel your pain, but not to quite the same extent I believe. Having reviewed my trades for the year, I've been making some really stupid mistakes but the big one is trading directly into support and resistance. Keep plugging away and you will get there.
  • #10,676
  • Mar 5, 2019 2:24am Mar 5, 2019 2:24am
Quoting Rub
{quote} After ending last year up, I'm currently sitting on about a 12% draw down. I feel your pain, but not to quite the same extent I believe. Having reviewed my trades for the year, I've been making some really stupid mistakes but the big one is trading directly into support and resistance. Keep plugging away and you will get there.
Thanks Rub, I know we all go through these phases.
The thing I didn't expect was how the market changed its behavior on many pairs and I didn't have enough experience to understand that those can last a long time. Therefore I kept forcing trades and let my ego convince me to hold my losses longer than what they should have been.

But I also know that my trading psychology was affected by my personal life. Unless you reach stage 5, trading remains a truly emotional activity and any personal issue messes with your trading brain, at least for me.

Enough about me, I just hope no one feels alone after reading my stories.
Trade safe
  • #10,677
  • Mar 5, 2019 2:52am Mar 5, 2019 2:52am
Hi Strat. I heard you say to someone they need to know where they are in the 5 Steps. Well, since my "stupid question" I have decided to start reading The Path again from the beginning. I think i can safely say I am somewhere between step 2 & 3. I have also now realised that I haven't demonstrated a good understanding of Basic PASR to you, the class and myself, always being in a hurry to try and catch up with everyone else. Understanding PASR being the first and most important aspect of my journey on The Path I now present this......


1.4156 major supp March & May 2001 & Jan 2002 swing low.
also major res Jan 2018.

1.2218 major supp Oct 2016.

1.2720 most recent major supp off Dec 2018 swing low.

BIG BOSS is in a downtrend gaining a little momentum.
BOSS is in a downtrend seemingly losing a little momentum.
BOSS put in a hammer like bar 24th Feb 2019 which was rejected by a confluence of the weekly TL, the BOSS 20 & the WORKER 50. next bar (IB) closed below TL but above BOSS 20. will have to wait & see the PA of the next bar and where it closes.
the WORKER is also in a longer term downtrend with the immediate trend being up. the WORKER also put in a HH closing above the 1.3200 psych BRN on 27th Feb 2019. sellers then pushed price down again to the BOSS 20 with a close below 1.3200 BRN. could just be a retrace to the confluence of the BOSS 20 & BRN 1.3200 with a possible push up off it. nothing to really do till i see more PA.
Attached Image(s) (click to enlarge)
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If at first you don't succeed, try, try again.
  • #10,678
  • Mar 5, 2019 2:55am Mar 5, 2019 2:55am
EUR wants to go up across all pairs
  • #10,679
  • Mar 5, 2019 3:33am Mar 5, 2019 3:33am
Quoting Alesiosc
Hi Strat. I heard you say to someone they need to know where they are in the 5 Steps. Well, since my "stupid question" I have decided to start reading The Path again from the beginning. I think i can safely say I am somewhere between step 2 & 3. I have also now realised that I haven't demonstrated a good understanding of Basic PASR to you, the class and myself, always being in a hurry to try and catch up with everyone else. Understanding PASR being the first and most important aspect of my journey on The Path I now present this...... 1.4156 major...
If you put the HH HL LH LL you will see the three BigBoss, Boss and worker are going up
  • #10,680
  • Mar 5, 2019 3:45am Mar 5, 2019 3:45am

GBPAUD 1 minute boot camp 5-march-2019

Time for another round of this caper. Support and resistance drawn from 15 and 5 minute charts, trading GBPAUD as there's already been news today and it hasn't moved much, maybe there will be something in London session. Vertical green line marks the start of London, green horizontal is support and resistance.

  1. Not entered, price is still bouncing around like a mad dog after session open.
  2. Decent close above resistance, but I realized it's at the top of the range from asia/euro sessions. Need to wait a half hour I think, for things to resolve and pick a direction. Stopped out.
  3. Better entry than (2). Got to remember patience pays off, still not a good entry though.
  4. Showing some direction now, but ~20pip stop loss.
  5. Another entry, smaller stop of ~10 pips, shortly after price takes off.
  6. No exit, price is grinding down, not dropping. More buying pressure I think.
  7. Proved me wrong, exit all positions on close.
  8. Closed above support, near a prior low. 12 pip stop, including spread. Closed a few candles later, just before the doji when there's no follow through.
  9. Sell with stop above the short consolidation just before although it's straight into the 200ema. Stayed in as the retracement was small candles.
  10. Price gapped up and hit my stop, no major news that I'm aware of, but there is orange news of forexfactory calendar.
  11. Called it a night here, I'd usually go for another 20 min or so, but it's been a long day and I'm drained.

Well, lost a couple of bucks tonight. not quite in a 10% draw down on this account yet but I'm close. Trading the smallest lost size I can, I think the main thing to take away from this session is I need to wait about half an hour before I enter any positions. Before then London hasn't picked any direction, that said I watched London take off last week and go 100+pips that I would've missed had I done that.

Attached Image(s) (click to enlarge)
Click to Enlarge Name: GBPAUD 15Min.png Size: 101 KB
Click to Enlarge Name: GBPAUD 5Min.png Size: 104 KB
Click to Enlarge Name: GBPAUD M1.png Size: 104 KB
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