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Strat's PASR Long Term, Stress Free Trading

  • #13,021
  • Apr 1, 2020 1:55am Apr 1, 2020 1:55am
Quoting Rub
Skipping posting the 4hr and 1hr charts. Much the same levels as yesterday. Red vertical line is the open. 1. Lucky not to get stopped out, came withing about 10 pips of my stop. Exit as it's just not moving. Too soon after the open? 2. Clear entry long, last hourly bar was very bullish. Moved to break even with a close above resistance. 3. Close above the strat shadow, move to break even near last high. Looking back over today on the hourly, it's been ranging. Happy to have made a small amount of pips. As for my review of my trading, last month...
Well trade management could be tough. You said that you moving to BE when you get 1:1. Well maybe your little people putting SL to BE so fast? TRy to reduce lot size maybe? Just an exercise? What about monitor trade and put SL on BE based on Price action at minor S/R?
Good job anyway!

My question for your trade is why you made first trade? Because gapping below support to take SL and then move up is pretty common but after battle is everyone general

Green pips to you mate!

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  • #13,022
  • Apr 1, 2020 3:04am Apr 1, 2020 3:04am
Quoting Mhons
{quote} Well trade management could be tough. You said that you moving to BE when you get 1:1. Well maybe your little people putting SL to BE so fast? TRy to reduce lot size maybe? Just an exercise? What about monitor trade and put SL on BE based on Price action at minor S/R? Good job anyway! My question for your trade is why you made first trade? Because gapping below support to take SL and then move up is pretty common but after battle is everyone general Green pips to you mate! {image}

I've seen the gap go both ways, gap and never come back, and gap and reverse so I don't tend to pay too much attention to it. The entry bar was such a big bearish bar with no wick I thought it was a good entry.

As for the one in the rectangle, I was thinking I should take it at the time, but it took off too quickly once it closed. By the time I measured the stop and calculated the size it was already a good 15 pips up. It happens, and I don't regret missing it.

Trade management is definitely something I need to work on, but I think part of it is I'm still not recognizing the market condition. Like today was ranging, and there were at least 3 good trades if I'd recognized that. The one you highlighted, the one I took, and the one where I got out (dropped like a rock to the 5150 area). All noted as stuff to work on.
  • #13,023
  • Apr 1, 2020 3:22am Apr 1, 2020 3:22am
I am short on EURUSD 5min but the trade is so arbitrary that I do not want to post the chart.
Faith with Action
  • #13,024
  • Apr 1, 2020 3:30am Apr 1, 2020 3:30am
Quoting Rub
{quote} I've seen the gap go both ways, gap and never come back, and gap and reverse so I don't tend to pay too much attention to it. The entry bar was such a big bearish bar with no wick I thought it was a good entry. As for the one in the rectangle, I was thinking I should take it at the time, but it took off too quickly once it closed. By the time I measured the stop and calculated the size it was already a good 15 pips up. It happens, and I don't regret missing it. Trade management is definitely something I need to work on, but I think part...
Make sense to me.
Thanks
  • #13,025
  • Apr 1, 2020 3:31am Apr 1, 2020 3:31am
Quoting hinnavaru
I am short on EURUSD 5min but the trade is so arbitrary that I do not want to post the chart.
You donīt have to. This thread is not signal service. Just share trade afterwards if you want to show it to fellow traders or need opinion/help from us

MH
  • #13,026
  • Apr 1, 2020 10:59pm Apr 1, 2020 10:59pm
I missed the previous entry on EU M1. Then I made a trade at the red arrow position and hit SL.
I am in need of advice from experienced traders on this.
Every comment and advice is appreciated. Thank you very much!
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  • #13,027
  • Apr 1, 2020 11:10pm Apr 1, 2020 11:10pm
Quoting sangnt0904
I missed the previous entry on EU M1. Then I made a trade at the red arrow position and hit SL. I am in need of advice from experienced traders on this. Every comment and advice is appreciated. Thank you very much! {image}
I realized my mistake, I lacked an important support on my chart. Price bounced up that support.
  • #13,028
  • Apr 2, 2020 2:09am Apr 2, 2020 2:09am
Quoting sangnt0904
I missed the previous entry on EU M1. Then I made a trade at the red arrow position and hit SL. I am in need of advice from experienced traders on this. Every comment and advice is appreciated. Thank you very much! {image}
Big boys made move 110pips to support where they want price and went to lunch at 11:30.

You entered after price touched 8 times Strat shadow, odds were against you. Deeper retracement was possible and it was what happened. You were in hurry and your little people fear of missing out trade forced you to entered directly to support after trend end and made you loss. Lesson learned.

Also check where PRICE was relative to STRAT shadow in M5 Timeframe. Do you see distance and rubber effect to PRICE that moves out of Shadow and back in?

All these informations should stop you entered trade so late.

hope it helps

MH
  • #13,029
  • Apr 2, 2020 2:26am Apr 2, 2020 2:26am
Quoting Mhons
{quote} Big boys made move 110pips to support where they want price and went to lunch at 11:30. You entered after price touched 8 times Strat shadow, odds were against you. Deeper retracement was possible and it was what happened. You were in hurry and your little people fear of missing out trade forced you to entered directly to support after trend end and made you loss. Lesson learned. Also check where PRICE was relative to STRAT shadow in M5 Timeframe. Do you see distance and rubber effect to PRICE that moves out of Shadow and back in? All these...
Thank you very much, MH!
  • #13,030
  • Apr 2, 2020 8:26am Apr 2, 2020 8:26am
lose GBPJPY, the price has gone RR 1:2, after it move stop loss. am i wrong?
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  • #13,031
  • Edited Apr 3, 2020 3:06am Apr 2, 2020 7:02pm | Edited Apr 3, 2020 3:06am
Quoting DuaCaMamMuoi
lose GBPJPY, the price has gone RR 1:2, after it move stop loss. am i wrong? {image}
Why haven't you exit after Bar 1 (marked) . Or when you see the boxes..what do you thought PRICE might do? Am I wrong to assume that you were blind? just joking m8

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Focus, Patience, Discipline, Determination and Perseverance
  • #13,032
  • Apr 2, 2020 7:26pm Apr 2, 2020 7:26pm
Quoting DuaCaMamMuoi
lose GBPJPY, the price has gone RR 1:2, after it move stop loss. am i wrong? {image}
As Suran said, there was signs to get out, this is something I'm pretty poor at recognizing. At the very least I would have moved my stop to break even at 2:1 risk reward though.
  • #13,033
  • Apr 2, 2020 10:22pm Apr 2, 2020 10:22pm
Quoting DuaCaMamMuoi
lose GBPJPY, the price has gone RR 1:2, after it move stop loss. am i wrong? {image}

Just double checked your chart on Higher time frame. If you followed correct procedure of M5 trend trading then you would have added the marked Resistance level. then you would have surely saw whats going on . blue box is bar marked 1 in my previous comment. In M5 trend trading S/R levels from H4,H1 is a must...

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study below chart.Strat's comments are on the chart. learn Strat's advise
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Hope this helps
Focus, Patience, Discipline, Determination and Perseverance
  • #13,034
  • Apr 3, 2020 1:54am Apr 3, 2020 1:54am
Quoting DuaCaMamMuoi
lose GBPJPY, the price has gone RR 1:2, after it move stop loss. am i wrong? {image}
Tell me, where did you find that market will go exact RRR 1:3 to hit your take profit? This is amateur money management. You have to listen PRICE not the opposite.
At least when you want trade like this move your SL and protect your MONEY. Have you even read some posts about Trend trading in this and old thread? If no GO BACK and READ. If yes you GO BACK and READ because you obviously do not understand how to trade it.

This is friendly advice to not loose more your money.

Stay safe mate.

MH

You had like XXXXX possibilities to close your trade and you still watching PRICE and pray to change direction but PRICE does not take care about you, about anyone.
  • #13,035
  • Apr 3, 2020 2:44am Apr 3, 2020 2:44am
Quoting Mhons
{quote} Tell me, where did you find that market will go exact RRR 1:3 to hit your take profit? This is amateur money management. You have to listen PRICE not the opposite. At least when you want trade like this move your SL and protect your MONEY. Have you even read some posts about Trend trading in this and old thread? If no GO BACK and READ. If yes you GO BACK and READ because you obviously do not understand how to trade it. This is friendly advice to not loose more your money. Stay safe mate. MH You had like XXXXX possibilities to close your...
One of the biggest problems on the way to becoming a professional trader imho. How often did I put on a trade where I wanted to "learn discipline" and then stubbornly stuck with it, because it was 10 pips shy of the 250 pip target! Guess what happened ... it reversed and even took out the sl for a loss! But hey, at least you stuck with your set&forget approach, clap your hands! But you LOST money!

Had I just ignored this guru teaching earlier, I'd close out a ton of trades earlier in PROFIT because the market told me so and not some guru RR money management blablabla.

What I started recently is just cutting out losses before they reach the sl if PA changes. Sure, I might take a loss that could have turned again here and there. But the losses are small now overall! If it does not make the full TP and the market reverses, I will just TP manually. The RR is what the market gives ... sure, I can aim for something and keep my risk small at all times. But this hyped set & forget style never worked for me. I think it was Carter who has written about this in his book "Mastering the trade": "Do not make a fool of yourself for a few ticks!"

I should stick this note to my screen once and for all!
Fix up, trade sharp ...
  • #13,036
  • Apr 3, 2020 3:16am Apr 3, 2020 3:16am
Quoting Hickson
{quote} One of the biggest problems on the way to becoming a professional trader imho. How often did I put on a trade where I wanted to "learn discipline" and then stubbornly stuck with it, because it was 10 pips shy of the 250 pip target! Guess what happened ... it reversed and even took out the sl for a loss! But hey, at least you stuck with your set&forget approach, clap your hands! But you LOST money! Had I just ignored this guru teaching earlier, I'd close out a ton of trades earlier in PROFIT because the market told me so and not some guru...
Well said!
The problem is based on your expectations. If you could rid of this beliefe your equity will thank you for that. Of course you could measure your risk reward before trade and prepare PLAN so your mind stays calm and count with all scenarios. But at the end of the show PRICE and MARKET will decide not your TP and SL and potencial RRR .

But only what new traders have to do is read first PAGE in this or old thread and you will see in red big letters.

IF TRADE WRONG GET OUT

Also I agree with STRAT statement that is good for beginners to measure RRR anyway so you will stay out from really poor trades even if trade could get into profit. Just pick sore thumb traders with good potencial 1:2 1:3
  • #13,037
  • Apr 3, 2020 4:03am Apr 3, 2020 4:03am
Back to trading

Hope you got it BTS.

GPB/USD was a little bit behind EUR with USD getting strong, pretty clean moves today.

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  • #13,038
  • Apr 3, 2020 4:05am Apr 3, 2020 4:05am
Quoting Mhons
Back to trading Hope you got it BTS. GPB/USD was a little bit behind EUR with USD getting strong, pretty clean moves today. {image}
I think Strat said to maximize the RR, he prefers to put the sl just above the signal candle, only risking 5-6. That requires patience, because the entry has to be perfect. So in your example, the sl should be right above the sore thumb, when it has formed the trade is entered.
Fix up, trade sharp ...
  • #13,039
  • Apr 3, 2020 4:56am Apr 3, 2020 4:56am
Quoting Mhons
Back to trading Hope you got it BTS. GPB/USD was a little bit behind EUR with USD getting strong, pretty clean moves today. {image}
Ha! I am in it now trying to squeeze into the bigger swing but it seems to be losing steam...
Private Msgs are turned off to weirdos, loafs and brain drainers
  • #13,040
  • Apr 3, 2020 5:05am Apr 3, 2020 5:05am
GU

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Last one was a small loss.
Private Msgs are turned off to weirdos, loafs and brain drainers
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