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Strat's PASR Long Term, Stress Free Trading

  • #12,421
  • Oct 2, 2019 9:13am Oct 2, 2019 9:13am
Quoting pippoacher
{quote} I have been on the thread for years, I work for a forex brokerage and my job includes analyzing and sifting through traders who are applying to trade our funds. I have been through both threads a few times So you will understand that I see many many trading systems.
well your focus is not on trading yourself as it seems
  • #12,422
  • Oct 2, 2019 10:03am Oct 2, 2019 10:03am
Understanding how charts work takes about 6 months.
Controlling your emotions takes a lifetime
  • #12,423
  • Oct 2, 2019 11:10am Oct 2, 2019 11:10am
Quoting bistolis
{quote} well your focus is not on trading yourself as it seems
precisely why my comment to strat was made. i trade a very small alternative investment fund. specializing in gold, but i run all sorts of strategies on a test platform. nothing and i mean nothing returns like PASR
  • #12,424
  • Oct 2, 2019 1:13pm Oct 2, 2019 1:13pm
Big Boys picking up Stragglers??

Just wondering...

Pete
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  • #12,425
  • Oct 2, 2019 6:47pm Oct 2, 2019 6:47pm
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Courtesy of https://forex-station.com/viewtopic....13#p1295391113

Your 1st goal is to be CONSISTENTLY PROFITABLE

your 2nd goal is to make sure your broker(s) puts you in his ""A"" book
15 YEARS OF PASR ON FOREX FACTORY!
  • #12,426
  • Oct 3, 2019 1:50am Oct 3, 2019 1:50am
Quoting strat
{image} {image} {image} Courtesy of https://forex-station.com/viewtopic....13#p1295391113 Your 1st goal is to be CONSISTENTLY PROFITABLE your 2nd goal is to make sure your broker(s) puts you in his ""A"" book
I can vouch for that first hand. If you look for a broker make sure they are regulated in a jurisdiction that actually has teeth and make sure they are a STP broker
  • #12,427
  • Oct 3, 2019 4:42am Oct 3, 2019 4:42am
Quoting Suran
{quote} Previous is only to show the BASIC PASR example. peanut trade but its good set up. And I took many worker trades . and already closed half of them and these are the remaining bucket load of pips which I don't know what to do now.I also took GBPCAD which seams struggling to move so closed them for 10 pips loss which is peanuts. This is why Strat keep telling us to practice Daily's first. The problem with Daily's is not the entries but its the exits which matters now.. {image}
I believe we are similar in many ways. My entries are good with almost little drawback but I find it hard to exit at the proper place. Just like you, I close my trade very early when I don't see something that I want to see happening. GREED Vs FEAR is a never-ending battle.

Trading micro lots (0.01) helps a lot. Totally different ballgame from demo.
  • #12,428
  • Oct 3, 2019 6:46am Oct 3, 2019 6:46am
Quoting MikuSS
{quote} I believe we are similar in many ways. My entries are good with almost little drawback but I find it hard to exit at the proper place. Just like you, I close my trade very early when I don't see something that I want to see happening. GREED Vs FEAR is a never-ending battle. Trading micro lots (0.01) helps a lot. Totally different ballgame from demo.
I have the same problem. But I noticed that the more I study the fundamentals, the more I am confident about the move thus hold longer. That said, I only trade setups that are inline with the fundamentals, as otherwise, I get anxious and exit early.
  • #12,429
  • Oct 3, 2019 7:47am Oct 3, 2019 7:47am
Quoting MikuSS
{quote} I believe we are similar in many ways. My entries are good with almost little drawback but I find it hard to exit at the proper place. Just like you, I close my trade very early when I don't see something that I want to see happening. GREED Vs FEAR is a never-ending battle. Trading micro lots (0.01) helps a lot. Totally different ballgame from demo.
Yeah me too! Also sometimes I move my S/L too aggressively.

I had a much better September though just by going back to basics 1 s/r to the next s/r. I will do this for a few months before trying anything else.
  • #12,430
  • Oct 4, 2019 12:16am Oct 4, 2019 12:16am
Quoting MikuSS
{quote} I believe we are similar in many ways. My entries are good with almost little drawback but I find it hard to exit at the proper place. Just like you, I close my trade very early when I don't see something that I want to see happening. GREED Vs FEAR is a never-ending battle. Trading micro lots (0.01) helps a lot. Totally different ballgame from demo.

Yes true.



BTW today is NFP...I am out
Focus, Patience, Discipline, Determination and Perseverance
  • #12,431
  • Oct 4, 2019 4:11am Oct 4, 2019 4:11am
I sometimes get nice messages from FF members asking me to post some charts with setups, entries, examples etc...
There are already hundreds of those in here, and they are as clear as anything you can hope for. It is always the same thing, an additional chart will not teach you something you don't already know.

Knowledge is never given, it is taken.

Strat trades forex on the Daily, but his teaching applies to any instrument freely traded and to any timeframe.

In my opinion, the best way to thank and honor your teacher and show that you have learned is to be able to apply the knowledge you have taken to other areas and instruments.

Forex has been less volatile in 2019, and some of you must have been frustrated if you stuck to daily entries on forex. But this strategy applies to so many other asset classes, on all timeframes and it is your responsibility to not let go this teaching to waste.

The good news is that we are about to enter a recession in a few months, this will create volatility. Check what happened in 2007/2008 and in 2001/2002, understand how different asset classes reacted, how certain currencies were dumped or chased, how metals and indices were traded.

This is not amateur hour, you are either 100% in it or you are wasting your time.

In this day and age of spoon-feeding, free stuff and noise, no wonder that this thread got deserted. Who still has what it takes to become a real trader and go through hell until he/she is impervious to fire? Because yes, it is hell, not because of markets but because of our emotions, our demons, our initial programming code.

But if you can re-write your code, success in trading is just a small reward compared to what that work has allowed you to become as a human. It means you beat your worst and most powerful adversary, the part of you who holds you back from greatness. And this doesn't mean to trade everyday, on all timeframes, it means you have accepted that you understand how trading works, that there is only so much you can do as a retail trader, and find success and satisfaction in the sections of the market movement you can capture without putting your health and capital at risk.

Marking ideal entry points on a chart is something I now find unhelpful because it takes the emotional roller-coaster out of what real traders go through, at least in their early years. The only thing that really matters is how much risk you are taking, and make that acceptable so that you don't sabotage yourself, either by pushing yourself to financial ruin or not follow through your winners.

So, I suggest you take the knowledge that is available here and make it yours, really yours.
Don't rely on others, it will only make you weak and will erode your self confidence. They person next to you doesn't know more than you, don't yield that power to someone else, in trading or in life.
  • #12,432
  • Edited 5:00am Oct 4, 2019 4:33am | Edited 5:00am
Quoting Suran
{quote} Yes true. BTW today is NFP...I am out
Yes NFP today, I'm currently in 2 trades GBP/JPY and USD/JPY (from the daily - short).
And finally since my last "fuck up", feel good and quite confident again and did also make some decent profits - that's why I'm considering taking profits now and closing my positions for the profits i got so far. GBP/JPY my target would however been much lower.

But I'm "afraid' that it could possibly reverse as price was stuck in this area in GJ quite a bit and this would eventually lead to loosing my confidence in trading again -> which makes me take trades i shouldn't take, again.

Hope this makes sense!
https://twitter.com/BeauBuyer
  • #12,433
  • Oct 4, 2019 10:38am Oct 4, 2019 10:38am
PASR NFP

As I have posted so many times, the Strat Shadow almost ALWAYS has PASR traders correctly positioned for trading.

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15 YEARS OF PASR ON FOREX FACTORY!
  • #12,434
  • Edited 1:23am Oct 5, 2019 12:36am | Edited 1:23am
Let's do some chart analysis shall we?

GBPNZD

Big boss - PRICE seams like trying to test recent highs


Boss

Up trend and retracing . PRICE inside Weekly Control Candle. And at the bottom of WCC, previous S\R level, and 1.95 .

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Worker
Price inside WCC candle.supported by WCC low and Strat Shadow support. 1.95 big round number also supporting the PRICE. Last Friday gave us a Hammer.

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Focus, Patience, Discipline, Determination and Perseverance
  • #12,435
  • Oct 5, 2019 1:29am Oct 5, 2019 1:29am
Quoting ixam23
{quote} Yes NFP today, I'm currently in 2 trades GBP/JPY and USD/JPY (from the daily - short). And finally since my last "fuck up", feel good and quite confident again and did also make some decent profits - that's why I'm considering taking profits now and closing my positions for the profits i got so far. GBP/JPY my target would however been much lower. But I'm "afraid' that it could possibly reverse as price was stuck in this area in GJ quite a bit and this would eventually lead to loosing my confidence in trading again -> which makes me take...

Yes , I also found some worker entries and all of them gave profits. Also Strat many times said the NFP normally do not effect worker (daily) trades unless something crazy happens. However as I am not confident to trade yesterday choose to stay out.

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Focus, Patience, Discipline, Determination and Perseverance
  • #12,436
  • Oct 5, 2019 4:29pm Oct 5, 2019 4:29pm
Here's one trade I'm in as a quick little ATM trade.

EURAUD BASIC PASR

Big boss: Ranging over the last couple of years from ~1.5500 to 1.6500, increasingly trying to break 1.6500 over the last year.

Boss: Strat shadow shows a slowly grinding uptrend, with the last month retesting 1.6000 area, and consolidating in a weekly control candle after showing some buying.

Worker: Think it's pretty clear where my entry is, targeting the first support I can see at the lower blue line. This is a counter trend trade according to the boss, so I will be taking profit quickly. My stop is also at break even.


I'm also still short the GBPJPY, but it's still just sitting there.
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  • #12,437
  • Oct 7, 2019 4:40am Oct 7, 2019 4:40am
For those that enjoy volatility and low margin. USD Zar, shooting star on the weekly. careful children....
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  • #12,438
  • Oct 8, 2019 5:55am Oct 8, 2019 5:55am
GBPJPY Resistance to support - I had waited for a close under support at 133.5, that it did on 9/25, then I placed a stop just under that bar. I was tempted to close this yesterday:
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  • #12,439
  • Edited 11:14pm Oct 8, 2019 2:10pm | Edited 11:14pm
Quoting tommyFL
GBPJPY Resistance to support - I had waited for a close under support at 133.5, that it did on 9/25, then I placed a stop just under that bar. I was tempted to close this yesterday: {image}
I am in a similar trade, but still holding. GBP is a dumpster fire at the moment, and I have confidence it will drop lower. Having said that, we are seeing a reaction at this level, and if I see price action telling me to exit I will.

Also still holding my EURAUD trade from earlier. Seeing lots of opportunities this week on the daily charts. EURUSD at the time of posting has my interest for example, as does AUDCAD and a few others I'm watching. Might post some charts after work and the close for the day.

EDIT: Here's some of the charts I've noticed over the last week or so. If you took any of these depends on YOUR risk tolerance and trading plan.
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  • #12,440
  • Oct 10, 2019 8:36pm Oct 10, 2019 8:36pm
GBP yesterday - thou shalt always use strict risk control.
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