DislikedI may get some hate for this post, maybe even banned. But I have had several difficulties trying to use the PASR Strategy so far. At the beginning of the week I have noticed that you really have no idea what the weekly candle will look like since it is the start of the week and just printing. This leads to some confusion on where the market is going. This is also complicated by the fact that the weekly candle can change from a buy to a sell if there is enough selling pressure, further complicating trading. And add to this that support and resistance...Ignored
You have to find a strategy that works for you. That fits your personality. If PASR isn't the thing you are comfortable with, then try to find some other strategy.
The good thing about strat's teaching is that he gives you very powerful tools and every trader needs to develop it's own style of the strategy.
You could only trade Basic PASR. Or like others here (like fleurdelys) which focused only on M5 PASR Trend Trading and right at the beginning had great success doing it. Another thing is the time frame. Are you going to do the stress free trades or chasing M1.
In the last couple of weeks I personally realized so many things. Sentences like "Cut your loosers and let your winners run" - at the beginning you think, sure, I will do exactly that. But the actions on that are quite the opposite: cutting winners and lettings loosers run.
And in the end it isn't about the strategy. It is about you. The sentence I like the most is this one, page 1 in this thread:
QuoteDislikedYou begin to realise that success in trading is more about “YOU” and that “YOU” could make money with a really simple moving average system.
And that is so true. Success isn't depending on the system. It is about what you do while trading, how you prepare, how you approach trading, how you learn, how you reflect on your past trades, how you set goals and plans to improve, how you act and think after winners, how you act and think after loosers, how confident you are with trading your strategy (and especially for me: how well have you back- and forwared tested the strategy, a big confidence boost). Psychology and mindset are more important than the strategy.
Soapbox moment. Sorry. But I hope it helps.
Accept the risk!
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