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Strat's PASR Long Term, Stress Free Trading

  • #12,121
  • Aug 15, 2019 1:29am Aug 15, 2019 1:29am
I've been messing around with lower time frames while I can trade the first few hours of London comfortably and I'm quite certain now that I've got no interest in making a living doing it.

Quite happy to use longer time frames, place a trade, and come back a few hours or the next day later.

I'm making good progress, after a horrific start to the year I'm on track to be about 40% up since mid year. Keen to see where I am at the end of the year, but I'm very cautious now after getting overconfident!

Still can't for the life of me pick points that might be a turning point, but I've done just fine following the longer term trend.
  • #12,122
  • Aug 15, 2019 2:48am Aug 15, 2019 2:48am
Quoting Rub
I've been messing around with lower time frames while I can trade the first few hours of London comfortably and I'm quite certain now that I've got no interest in making a living doing it. Quite happy to use longer time frames, place a trade, and come back a few hours or the next day later. I'm making good progress, after a horrific start to the year I'm on track to be about 40% up since mid year. Keen to see where I am at the end of the year, but I'm very cautious now after getting overconfident! Still can't for the life of me pick points that...
Nice to hear. Congrats, Rub. What is your position size on each trade? What was your biggest drawdown?
Accept the risk!
  • #12,123
  • Aug 15, 2019 2:49am Aug 15, 2019 2:49am
Quoting Rub
I've been messing around with lower time frames while I can trade the first few hours of London comfortably and I'm quite certain now that I've got no interest in making a living doing it. Quite happy to use longer time frames, place a trade, and come back a few hours or the next day later. I'm making good progress, after a horrific start to the year I'm on track to be about 40% up since mid year. Keen to see where I am at the end of the year, but I'm very cautious now after getting overconfident! Still can't for the life of me pick points that...
That is really good observation Rub. You tried lower timeframes and found out what suit you best. For me it is very important to close screen when I trade M1 timeframe that will save me a lot of time and overtrading when is no trend placed. Usually the best setups from my records come within 1-2 hours then its just my little people screaming enter trade but there is no reason at all

Just my thoughts
MH
  • #12,124
  • Aug 15, 2019 3:08am Aug 15, 2019 3:08am
Quoting Scrumy
{quote} Nice to hear. Congrats, Rub. What is your position size on each trade? What was your biggest drawdown?
Risking 2% I've had a 25% draw down while I have been learning what does and doesn't work for me. Peak draw down was in about April this year, after which I took a step back for a few months, assessed what I was doing and came back. So far I've not had more than 3 losses in a row, but I've still made a couple of bad trades from the perspective of shouldn't have put them on to start with.

Looking forward to seeing where exactly I am at the end of the year, but I'm trying to take my performance over quarters as a good indication of exactly where I am. So far this one is looking pretty good.
  • #12,125
  • Aug 15, 2019 3:12am Aug 15, 2019 3:12am
Quoting Rub
{quote} Risking 2% I've had a 25% draw down while I have been learning what does and doesn't work for me. Peak draw down was in about April this year, after which I took a step back for a few months, assessed what I was doing and came back. So far I've not had more than 3 losses in a row, but I've still made a couple of bad trades from the perspective of shouldn't have put them on to start with. Looking forward to seeing where exactly I am at the end of the year, but I'm trying to take my performance over quarters as a good indication of exactly...
40% is great
and well 25% is normal if you risk 2% per trade
http://www.equitycurvesimulator.com/
you can use this calculator to see distributions if you are interested
  • #12,126
  • Edited 6:27pm Aug 15, 2019 4:39pm | Edited 6:27pm
Quoting Rub
Still can't for the life of me pick points that might be a turning point,.
You don't mean picking tops/bottoms right?!
  • #12,127
  • Aug 16, 2019 12:09am Aug 16, 2019 12:09am
Quoting Suran
{quote} Hi Mikus, Looks like you misinterpret the charts. You say that huge Bullish candle in Worker has confirmed swing high. That's Swing low. Also what is the confirmed swing high you talking about Boss? Suranga
Hi Suran,

I apologise for the late reply as I had a really busy week.

Perhaps I have used Swing High and Swing Low in an incorrect way. This is the candle that confirmed Swing High (End of downtrend) on the Boss chart.
Attached Image (click to enlarge)
Click to Enlarge Name: AUDNZDWeekly.png Size: 31 KB


And this Swing was confirmed by two worker candles.
Attached Image (click to enlarge)
Click to Enlarge Name: AUDNZDDaily.png Size: 35 KB


Should I call it Swing Low instead..?
  • #12,128
  • Aug 16, 2019 4:08am Aug 16, 2019 4:08am
Quoting bistolis
{quote} 40% is great and well 25% is normal if you risk 2% per trade http://www.equitycurvesimulator.com/ you can use this calculator to see distributions if you are interested
Hopefully I'll reduce the draw down. 25% is a bit much to be trading for a living.

Quoting tommyFL
{quote} You don't mean picking tops/bottoms right?!
God no! I am thinking more like swing highs and lows. Getting in at or near the top of a weekly swing high and riding it 90% of the way down would be fantastic. At the moment I'm still taking bites out a trend.
  • #12,129
  • Aug 16, 2019 4:36am Aug 16, 2019 4:36am
Quoting Rub
{quote} Hopefully I'll reduce the draw down. 25% is a bit much to be trading for a living. {quote} God no! I am thinking more like swing highs and lows. Getting in at or near the top of a weekly swing high and riding it 90% of the way down would be fantastic. At the moment I'm still taking bites out a trend.
Reduce risk per trade to minimum 1% or lower and focus only on decision making and process. The drawdown will be much less
  • #12,130
  • Aug 16, 2019 5:17am Aug 16, 2019 5:17am
Quoting Rub
{quote} Hopefully I'll reduce the draw down. 25% is a bit much to be trading for a living. {quote} God no! I am thinking more like swing highs and lows. Getting in at or near the top of a weekly swing high and riding it 90% of the way down would be fantastic. At the moment I'm still taking bites out a trend.
Absolutely. Anything over 8-10 percent DD is hard to chew, at least for me!
Fix up, trade sharp ...
  • #12,131
  • Aug 16, 2019 6:38am Aug 16, 2019 6:38am
GU

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDM15.png Size: 30 KB
Private Msgs are turned off to weirdos, loafs and brain drainers
  • #12,132
  • Aug 16, 2019 8:31am Aug 16, 2019 8:31am
Quoting MikuSS
{quote} Hi Suran, I apologise for the late reply as I had a really busy week. Perhaps I have used Swing High and Swing Low in an incorrect way. This is the candle that confirmed Swing High (End of downtrend) on the Boss chart. {image} And this Swing was confirmed by two worker candles. {image} Should I call it Swing Low instead..?
Mikus,

It should be Swing low (end of down trend) , In boss chart to confirm the swing low the next week candle (or the week after ) should CLOSE above the extreme of the previous candle. see the attached chart
Attached Image (click to enlarge)
Click to Enlarge Name: swing_confirmation.gif Size: 32 KB


In your worker chart the second arrow confirmed the swing low (your first arrow)
So all in all Boss does not have confirmed swing low yet ,because the next week candle did not close yet. However, Worker has a confirmed swing low

for further ref.
https://web.archive.org/web/20120603...nfirmed_swings

hope this helps

Suranga
Focus, Patience, Discipline, Determination and Perseverance
  • #12,133
  • Aug 16, 2019 9:27am Aug 16, 2019 9:27am
Quoting BeyondTheSea
GU {image}
Good support and target. Saw it earlier on mobile, will only trade from my pc though. Well done!
Fix up, trade sharp ...
  • #12,134
  • Aug 16, 2019 12:13pm Aug 16, 2019 12:13pm
Friendly advice: look into Platinum, maybe your best option for a recession investment
Have a great weekend
  • #12,135
  • Aug 16, 2019 1:12pm Aug 16, 2019 1:12pm
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDM15.png Size: 28 KB
15 YEARS OF PASR ON FOREX FACTORY!
  • #12,136
  • Aug 16, 2019 2:03pm Aug 16, 2019 2:03pm
Quoting strat
{image}
Perfectly explained.
  • #12,137
  • Aug 16, 2019 2:27pm Aug 16, 2019 2:27pm
The arrow points to around midnight my time. Maybe I need to watch Forex instead of Alfred Hitchcock reruns.
Attached Images
  • #12,138
  • Aug 20, 2019 1:06pm Aug 20, 2019 1:06pm
GU

Only about for an hour or two this morning. Bagged my daily allowance

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDM15.png Size: 61 KB
Private Msgs are turned off to weirdos, loafs and brain drainers
  • #12,139
  • Aug 21, 2019 2:40am Aug 21, 2019 2:40am
Quoting Rub
I've been messing around with lower time frames while I can trade the first few hours of London comfortably and I'm quite certain now that I've got no interest in making a living doing it. Quite happy to use longer time frames, place a trade, and come back a few hours or the next day later. I'm making good progress, after a horrific start to the year I'm on track to be about 40% up since mid year. Keen to see where I am at the end of the year, but I'm very cautious now after getting overconfident! Still can't for the life of me pick points that...

Well, scratch that. I made the classic mistake of arguing with the market that I was right, then doubling down. Managed to get out with my seed money intact, but blew my profits.

Still staying afloat though, and haven't exploded my account. Just sitting pretty much where I started.
  • #12,140
  • Aug 21, 2019 2:47am Aug 21, 2019 2:47am
Quoting Rub
{quote} Well, scratch that. I made the classic mistake of arguing with the market that I was right, then doubling down. Managed to get out with my seed money intact, but blew my profits. Still staying afloat though, and haven't exploded my account. Just sitting pretty much where I started.
What I found with the lower TFs is that even if you have some years of experience under your belt and a reasonable discipline that will keep you from blowing your account is that when you start trading lower TFs than you are used to, overtrading can sneak in. Let us say you were trading H1 or M15, going to M1 can result in tons of bad trades if you are not careful. It happened to me before and it is something I want to avoid at all cost in future, because it can drain your account even if you are using reasonable RR ratios.
Fix up, trade sharp ...
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