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Strat's PASR Long Term, Stress Free Trading

  • #12,041
  • Aug 1, 2019 1:20pm Aug 1, 2019 1:20pm
Quoting trolloc63
I 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...
You can never be sure, what price will do. So even the best looking A+ setups will fail. And exactly that is the key in trading. A loosing trade doesn't mean it was a bad trade. Also a winning trade could be a bad trade.

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:

Quote
You 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!
  • #12,042
  • Aug 1, 2019 1:29pm Aug 1, 2019 1:29pm
USDJPY M5 PASR Trend Trading

SL: ~ 12 Pips
TP: 37.1 Pips

3R.

Very nice structure today. Entry right after BEEB away from SR.

Trade could have been managed better. But my little people started partying at the next SR. I really wasn't in "the zone" today. But - profit is profit.

Attached Image (click to enlarge)
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Accept the risk!
  • #12,043
  • Aug 1, 2019 1:39pm Aug 1, 2019 1:39pm
NZDCAD H1 Swing PASR

SL: 35 Pips
TP: none

H4 was in upswing and going away from important SR, seen on the H4 chart below. Primary trend therefore up. H1 followed (actually it lead). Entry after that very bullish candle. And then stopped. So I cut that trade pretty fast.
All those wicks and small bodies made me leave.

Output: -0.1R.

H4
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H1
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Accept the risk!
  • #12,044
  • Edited 3:37pm Aug 1, 2019 1:42pm | Edited 3:37pm
it was similar
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If you afraid dont do, if you doing dont afraid.
  • #12,045
  • Aug 1, 2019 1:48pm Aug 1, 2019 1:48pm
Quoting facebreaker
...
Wow. Congrats on those amount of pips! Well done.
Accept the risk!
  • #12,046
  • Aug 1, 2019 1:54pm Aug 1, 2019 1:54pm
Quoting Scrumy
{quote} Wow. Congrats on those amount of pips! Well done.
Thanks, and you well done)
If you afraid dont do, if you doing dont afraid.
  • #12,047
  • Aug 1, 2019 4:04pm Aug 1, 2019 4:04pm
Quoting PipTracy
EURJPY Sell Stop {image}
End of EURJPY Sell +250. It is close to target, but with that big candle, possibly tomorrow touch the target and pull back, so I take profit now.
Attached Image (click to enlarge)
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  • #12,048
  • Aug 1, 2019 6:19pm Aug 1, 2019 6:19pm
NZDJPY - closed my trade for profit

Boss chart- BEOB at resistance
Attached Image (click to enlarge)
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Worker- BEOB
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Suranga
Focus, Patience, Discipline, Determination and Perseverance
  • #12,049
  • Aug 1, 2019 7:08pm Aug 1, 2019 7:08pm
Quoting Scrumy
{quote} You can never be sure, what price will do. So even the best looking A+ setups will fail. And exactly that is the key in trading. A loosing trade doesn't mean it was a bad trade. Also a winning trade could be a bad trade. 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...
Trying that myself now. I was doing OK on demo, but now I'm on a small live account and the psychology part is kicking in. After the first full month of being live I'm down about 1%; when I look back I made a few silly mistakes and cut a few winners off too quickly either because I wanted to bank a profit or because I moved the SL too close to the price.

It could be worse.
  • #12,050
  • Aug 1, 2019 8:36pm Aug 1, 2019 8:36pm
Quoting tommyFL
{quote} Trying that myself now. I was doing OK on demo, but now I'm on a small live account and the psychology part is kicking in. After the first full month of being live I'm down about 1%; when I look back I made a few silly mistakes and cut a few winners off too quickly either because I wanted to bank a profit or because I moved the SL too close to the price. It could be worse.
Welcome to the psychology of the Live Account.
  • #12,051
  • Aug 1, 2019 10:45pm Aug 1, 2019 10:45pm
Quoting Scrumy
{quote} You can never be sure, what price will do. So even the best looking A+ setups will fail. And exactly that is the key in trading. A loosing trade doesn't mean it was a bad trade. Also a winning trade could be a bad trade. 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...
Hey Scrumy. That's like straight out of the mind of Strat. I dont think even he could have explained that better. You have a knack trading PASR and also in making your trades understood. I've found so far this week that these footsteps are so important but also that Basic PASR is too. I get the importance of building a basic foundation with Strat's PASR method. It will carry us all on our journeys. Everything else will fall into place. It just takes time.. I am beyond gratefull to Strat and all the other contributing members over the years, who have laid these foundations out for us to learn from. Basic PASR is the way to go. If you dont get it the first time, then re-read the thread until you do. I've started the thread over , 5 times already and havent been past page 700 of the 1st thread yet . It's a long laborious read, but exciting at the same time. And, from my experience, worth every minute of it. Finally, may I offer a few words of wisdom. Well actually, a few words from my notes....

Energy & Emotions
Fear & Greed
Buyers & Sellers
Supply & Demand
Equilibrium

Some of the things Strat has already mentioned over and over again. We choose what to focus our efforts on. A lot of the time we are distracted from the simple basics.......

I left a trade overnight on the GBPUSD. Already closed 5 lots. Next 5lots at breakeven. I'll try and post a chart when I get up 4am here......Good trading.
If at first you don't succeed, try, try again.
  • #12,052
  • Aug 2, 2019 12:57am Aug 2, 2019 12:57am
Quoting Suran
{quote} Hey guys , I have a question About that Basic PASR that Strat wanted us to master FIRST.... In THE PATH he says new people should trade from first S/R to 1st level of S/R level. And one post he said S/R levels should be drawn from Worker chart (which is Daily). And he just do not talk about analysis of Boss and Big boss charts in that post. is that right? is that what he wanted us to master first? BTW . After jumping to trade Daily's I have lots of time to read THE PATH. Now I see why this is called long term stress free trading.. Suranga...
My understanding of basic PASR is it's taking little bites out of an existing trend, or trading top to bottom/bottom to top of a range.

Quoting trolloc63
I 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...
We are not interested in the current weekly candle, look at the overall picture on weekly, and what the last week's candle was. Look for significant levels, watch what price does there. Do the same for monthly, then refine it to weekly.

Quoting Scrumy
{quote} You can never be sure, what price will do. So even the best looking A+ setups will fail. And exactly that is the key in trading. A loosing trade doesn't mean it was a bad trade. Also a winning trade could be a bad trade. 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...
Pretty much it in a nutshell!


Glad to see everyone riding the JPY pairs down. Here's my contribution, targeted the next weekly support I could see, but didn't think it'd nearly hit it overnight. Tokyo session just kicked it over the line by a few pips.
Attached Image (click to enlarge)
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  • #12,053
  • Aug 2, 2019 5:17am Aug 2, 2019 5:17am
after a week of testing i have finally got a trade pretty perfect. some may say its luck, maybe, but i doubt it very much....staggered my sell limits to keep my risk minimal, stops extremely tight. this should just be the begining of this trade.....

EDIT: if anyone is wondering whats the text for. well this week i made so many pips but didnt take them and i was feeling a bit dumb because of it....so its just a little reminder to myself
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If at first you don't succeed, try, try again.
  • #12,054
  • Aug 2, 2019 7:14am Aug 2, 2019 7:14am
i wish i could say i took my profit at 1st resistance. unfortunately i didnt, again....

still. one thing that clicked today and from the week is, after all this time on this thread is, the basic concept of Basic PASR (damn it takes me a long time for some things to sink in) trade from resistance to 1st support and support to 1st resistance, i have not been sticking to. in fact, when i think about it. thats why i have never been able to grasp the concept of Basic PASR when it is actually as simple as Strat says....trade from Res to 1st Supp and Supp to 1st Res using BEEB, BUEB, BEOB, BUOB, SS and Hammers. make sure your road to profit is not blocked, as it shouldnt be if the above rules are followed and that there is enough profit available......as much as im down around 6% on my account. im happy with my experiences this week and if i can learn from them then it was worth me taking the week off. roll on next week.......maybe ill take another week off.....
If at first you don't succeed, try, try again.
  • #12,055
  • Aug 2, 2019 7:28am Aug 2, 2019 7:28am
GBPAUD 1.7895 -1.7910 is another short entry zone. thought id mention it and see how it works through NFP.....
If at first you don't succeed, try, try again.
  • #12,056
  • Aug 2, 2019 7:46am Aug 2, 2019 7:46am
Quoting Alesiosc
i wish i could say i took my profit at 1st resistance. unfortunately i didnt, again.... still. one thing that clicked today and from the week is, after all this time on this thread is, the basic concept of Basic PASR (damn it takes me a long time for some things to sink in) trade from resistance to 1st support and support to 1st resistance, i have not been sticking to. in fact, when i think about it. thats why i have never been able to grasp the concept of Basic PASR when it is actually as simple as Strat says....trade from Res to 1st Supp and Supp...
let it sink in for a while , and then try again
  • #12,057
  • Aug 2, 2019 8:21am Aug 2, 2019 8:21am
i have to say. most of the week these footprints have been allowing me pretty much pinpoint accurate entries with stop losses as small as 3pips like this one....just missed my 1st supp TP.....
Attached Image
If at first you don't succeed, try, try again.
  • #12,058
  • Aug 2, 2019 8:39am Aug 2, 2019 8:39am
Quoting bistolis
{quote} let it sink in for a while , and then try again
i took already, but only because i let so many go before. still didnt do it right but banked some pips as i ncresed my lot size cos of the minimal stops.....

it seems to me this maybe one of those turning points Strat always looks for on the daily....its at a major turning point from the 4hr down and PA is telling me down
may just get in again if i can find the right entry. again. only with minimal stop loss

EDIT: think i may have missed it already, whilst i was typing
If at first you don't succeed, try, try again.
  • #12,059
  • Aug 2, 2019 8:57am Aug 2, 2019 8:57am
Quoting Alesiosc
GBPAUD 1.7895 -1.7910 is another short entry zone. thought id mention it and see how it works through NFP.....
just to keep you guys on your toes...the M15 Footprint worked a treat with minimal stops. just reversed at 1st supp, like Strat says, Resistance to 1st Support.
Basic PASR.

where price seems to have made a turn now is a 4H Footprint
If at first you don't succeed, try, try again.
  • #12,060
  • Aug 2, 2019 7:27pm Aug 2, 2019 7:27pm
Quoting Alesiosc
i wish i could say i took my profit at 1st resistance. unfortunately i didnt, again.... still. one thing that clicked today and from the week is, after all this time on this thread is, the basic concept of Basic PASR (damn it takes me a long time for some things to sink in) trade from resistance to 1st support and support to 1st resistance, i have not been sticking to. in fact, when i think about it. thats why i have never been able to grasp the concept of Basic PASR when it is actually as simple as Strat says....trade from Res to 1st Supp and Supp...
Keep at it mate, I suspect a large part of the basic PASR strat tells us to practice is simply to build the habit of winning. Once that's sorted you work out the system that works for you.
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