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Strat's PASR Long Term, Stress Free Trading

  • #14,061
  • Mar 8, 2021 12:55am Mar 8, 2021 12:55am
When I hear about R:R rates, I think of kostas1, as long as having a strategy with a high win rate, you can risk more than 1%.
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  • #14,062
  • Mar 8, 2021 1:17am Mar 8, 2021 1:17am
Quoting sangnt0904
When I hear about R:R rates, I think of kostas1, as long as having a strategy with a high win rate, you can risk more than 1%. {image}
wow, impressive!

im new to this thread. Read first 8 pages and last 4, could not find anything related to "Dance" what does it mean? could you explain your strategy?
  • #14,063
  • Mar 8, 2021 1:25am Mar 8, 2021 1:25am
Quoting ulle73
{quote} wow, impressive! im new to this thread. Read first 8 pages and last 4, could not find anything related to "Dance" what does it mean? could you explain your strategy?
Sorry I brought an image from other thread to this thread to talk about R:R ratios. This is not my account, if you want to learn PASR, you should read from the first page, if you want to learn Dance please send me a message, I will send you the link of that thread, I do not want to send the link of that thread comes here, I'm not a Troll.
  • #14,064
  • Mar 8, 2021 2:22am Mar 8, 2021 2:22am
GBPUSD M5 Basic PASR
The price has not come to TP as my plan, I moved SL to the bottom of that SS candle.
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  • #14,065
  • Mar 8, 2021 10:28am Mar 8, 2021 10:28am
Quoting Rub
{quote} Baba G do you mind giving some context on what you're risking to get that return? It's fantastic if you're only risking 0.5% a trade, a whole lot less so if you're risking 50%. I'm guessing it's not more than 2%. Ultimately I aim to be risking 2%, maybe 3% if I can stop making such stupid mistakes, but at the moment I'm sticking to 1%. EDIT: grrrrr.....typos.
Excellent question.

It deserves a thorough answer.

I am so impressed with this thread and it's contributors.

G
  • #14,066
  • Mar 8, 2021 3:59pm Mar 8, 2021 3:59pm
Hey there! Another one just closed. Did anyone else got on the E/C train to south?
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You attract what you think in any area of life, relationships and trading!
  • #14,067
  • Edited Mar 9, 2021 3:38am Mar 8, 2021 11:19pm | Edited Mar 9, 2021 3:38am
Quoting sangnt0904
GBPUSD M5 Basic PASR The price has not come to TP as my plan, I moved SL to the bottom of that SS candle. {image}

I was watching that form, but didn't take it. I struggle with range trading like that.

Quoting Baba G
{quote} Excellent question. It deserves a thorough answer. I am so impressed with this thread and it's contributors. G
I look forward to the post. There's all sorts of just stuff out there on risk management, from the standard risk a % of the account to kelly criterion, to optimal F sizing, to people who have a profit target but not a clearly defined stop (not for me that one!).

Quoting Eushev24
Hey there! Another one just closed. Did anyone else got on the E/C train to south? {image}
Not me, unfortunately I was away from the internet for a large chunk of last week dealing with some family issues.

EDIT: Hope someone grabbed this one. I hesitated and missed the chance. Red line is London open.
EDIT pt2: Second chart is how it's sitting now I'm heading for bed.
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  • #14,068
  • Mar 9, 2021 7:19pm Mar 9, 2021 7:19pm
Quoting Baba G
{quote} Excellent question. It deserves a thorough answer. I am so impressed with this thread and it's contributors. G
To expand on the subject of risk and the application thereof, I would like to take you back to the beginning of my FX journey.

I started off by learning from a guy that went by the name of James 16. This was before this site was public, carried ads and the retail FX market place was still relatively new.

One of the first concepts to understand was that you where not supposed to even think about risk until you had a good 3 years profitable trading under your belt.

3 years of trading the daily, successfully.

And only price action at that. Nothing else. The idea being if you can make 20% a year risking 1% a trade like that for 3 years you can move on. This was ghost or paper trading.

This is very unpopular and requires all the usual cliches like, perseverance etc etc etc.

No one does that.

For me that is the first mistake. That is why I posted the daily charts which a few of you analyzed.

Second is that we, the trader, must be a passive participant in the market and that the market is the active participant.

You learn to let the market call the shots.

Concepts such as " I want a 1:1 ratio on my trades" or " I want 20% a month/year/day" are all YOU imposing on the market. You have to learn to let market GIVE you what she wants by reading the bars and price action.

Think about the ability of humans to see faces in clouds. Or patterns in the market. Is it real or not? 3 years will tell you.

Then a blanket 1% risk will keep your psychology.

James 16 had a dedicated thread just for traders psychology. The thread leader would beat the drum that if you move ahead too fast you would burn out.

Most do.

The D1 chart could be traded long or short and you would not look above or below you (time frames) for any further info.

You where not trying to build a long term position or become rich. Just learning to read, call and win. Consistently. For 3 years.

The learning was cut into 4 sections;

1 Entry 2 Management 3 Exit 4 Risk

Each section was a stand alone discipline that needed to be worked on. Risk being the last.

Time to completion was around 5 years at the very very least.

That is how I did it.

It is the only way I recommend. Not very popular I'm sure but that is how I got here.

My advice is to put the 3 years in, then stick to 1% until you make 20% a year.

During that time perform a full autopsy on every trade and see how the smallest of changes could have made it better. Sift through your data and separate the wheat from the chaff.

When you have the annual number of trades (times 3 years), followed by the number of winners verses losers this gives you the profit to loss ratio. THEN you can allocate risk.

Riddle me this, what is risk?

Is it how much you put on a trade or how certain you are that your entry is correct.

How certain are you? Do your trades have a 60% chance of winning, 70, 80 90??????

How will you know if you don't do the time...... you wont will you.

According to my latest figures, my algorithm has a 95+ chance of winning. And that 5%+/- remainder, I have 4 early exit signals built in, in order to cut my losses early.

It took me years to build this and more years to fine tune. As the years have gone on the good habits I learnt from James 16 have proved it's weight in gold.

You all have a great system here from Strat and the level of analysis is great. I wonder if your doing the back office work of building your trading profile and not just posting a win snap shot here and there.

It is not important if you win or lose today, but if you keep winning for years and years and years.

My advise is to find a system and stick to it for 3 years, work on each of the 3 sections and when you get to the 4th section you will know.

Good luck

G
  • #14,069
  • Mar 9, 2021 9:47pm Mar 9, 2021 9:47pm
Quoting Rub
{quote} I was watching that form, but didn't take it. I struggle with range trading like that. {quote} ...
You wouldn't believe I compared the strength of USD on major currency pairs as they are entering a consolidation before the London session. Only GBPUSD had a good PA at support and I decided to order without hesitation even though it was early London session.
  • #14,070
  • Mar 10, 2021 6:05am Mar 10, 2021 6:05am
Quoting Baba G
{quote} You all have a great system here from Strat and the level of analysis is great. I wonder if your doing the back office work of building your trading profile and not just posting a win snap shot here and there. It is not important if you win or lose today, but if you keep winning for years and years and years. My advise is to find a system and stick to it for 3 years, work on each of the 3 sections and when you get to the 4th section you will know. Good luck G
Awesome post! Thanks Baba G

Pete
  • #14,071
  • Mar 10, 2021 9:10am Mar 10, 2021 9:10am
Quoting sangnt0904
When I hear about R:R rates, I think of kostas1, as long as having a strategy with a high win rate, you can risk more than 1%. {image}
With 3-9% daily he should now have more money than Warren Buffett.
  • #14,072
  • Mar 10, 2021 10:26am Mar 10, 2021 10:26am
Quoting kirinda
{quote} With 3-9% daily he should now have more money than Warren Buffett.
thats impossible in long term. If there is a way to generate so much money big boys would find it and their profit would exceed the money of the world.
You attract what you think in any area of life, relationships and trading!
  • #14,073
  • Edited 9:31pm Mar 11, 2021 5:48am | Edited 9:31pm
Quoting Eushev24
{quote} thats impossible in long term. If there is a way to generate so much money big boys would find it and their profit would exceed the money of the world.

There are people who can do that.. The issue is when your account gets bigger the risk you have to take per trade is also bigger. taking bigger risk affects pshycology. thats why its hard to do that in longer term. But I know people clocking insane amount of profits per day , but not in forex.
Focus, Patience, Discipline, Determination and Perseverance
  • #14,074
  • Mar 12, 2021 12:04pm Mar 12, 2021 12:04pm
Quoting Eushev24
Hey there! Another one just closed. Did anyone else got on the E/C train to south? {image}
I entered this one on the worker at the beginning of February at the arrow. Shadow had turned negative and price closed below the 200ema.
My first target was the boss 200ema and since we had good PA in that area, kept trade open with final target of the BB 200ema which is close by now.
Red line on worker is the Boss 200 and green line is the BB 200.
Several add on opportunities but I was just trying my patience at holding a long term trade to its final destination.

Good example of Long Term Stress Free Trade using Strat's methodology.

Regards
Terry
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  • #14,075
  • Mar 12, 2021 12:14pm Mar 12, 2021 12:14pm
Quoting TerryDawe
{quote} I entered this one on the worker at the beginning of February at the arrow. Shadow had turned negative and price closed below the 200ema. My first target was the boss 200ema and since we had good PA in that area, kept trade open with final target of the BB 200ema which is close by now. Red line on worker is the Boss 200 and green line is the BB 200. Several add on opportunities but I was just trying my patience at holding a long term trade to its final destination. Good example of Long Term Stress Free Trade using Strat's methodology. Regards...
Quite nice Terry. This is textbook worthy.
  • #14,076
  • Mar 13, 2021 4:44am Mar 13, 2021 4:44am
Quoting TerryDawe
{quote} I entered this one on the worker at the beginning of February at the arrow. Shadow had turned negative and price closed below the 200ema. My first target was the boss 200ema and since we had good PA in that area, kept trade open with final target of the BB 200ema which is close by now. Red line on worker is the Boss 200 and green line is the BB 200. Several add on opportunities but I was just trying my patience at holding a long term trade to its final destination. Good example of Long Term Stress Free Trade using Strat's methodology. Regards...
You sold that pair at support
  • #14,077
  • Edited 8:15am Mar 13, 2021 7:58am | Edited 8:15am
Quoting sangnt0904
{quote} You sold that pair at support
The trigger for my entry was on February 3rd as noted once price closed below the shadow and 200. Could have got a better entry at the top of the shadow a couple of days earlier but that was not part of my plan.
Even though I was trading the worker, my entry was on the H4 after a retrace to/through its 200ema of its down trend which allowed me a smaller stop. Stop was set at the H4 200ema and in this case it worked out pretty well with a RR of just over 1:4 as of today.
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  • #14,078
  • Mar 13, 2021 8:16am Mar 13, 2021 8:16am
Quoting Lou
{quote} Quite nice Terry. This is textbook worthy.
Thanks Lou,

Testament to Strat's methodology using the shadow and 200ema.
  • #14,079
  • Mar 13, 2021 8:57am Mar 13, 2021 8:57am
Quoting TerryDawe
{quote} I entered this one on the worker at the beginning of February at the arrow. Shadow had turned negative and price closed below the 200ema. My first target was the boss 200ema and since we had good PA in that area, kept trade open with final target of the BB 200ema which is close by now. Red line on worker is the Boss 200 and green line is the BB 200. Several add on opportunities but I was just trying my patience at holding a long term trade to its final destination. Good example of Long Term Stress Free Trade using Strat's methodology. Regards...
Well done, Terry! Your trade was also at a Lower High which gave added confidence for a short. There is nothing I can add to improve on this - as Lou posted, it was text book perfect.

You have come a long way and really turned your trading around from your earlier days on here. I know you lost faith in PASR and went system hopping, got your ass kicked on another thread but ALWAYS came back to PASR. If and when you get time, maybe you can post your trading journey so that others who are struggling to be consistently profitable, or even just profitable, can use you as their inspiration.

Again, super trading Terry. If you carry on like this, you will soon be able to afford a membership at St. Andrews!
15 YEARS OF PASR ON FOREX FACTORY!
  • #14,080
  • Mar 13, 2021 10:34am Mar 13, 2021 10:34am
Quoting strat
{quote} Well done, Terry! Your trade was also at a Lower High which gave added confidence for a short. There is nothing I can add to improve on this - as Lou posted, it was text book perfect. You have come a long way and really turned your trading around from your earlier days on here. I know you lost faith in PASR and went system hopping, got your ass kicked on another thread but ALWAYS came back to PASR. If and when you get time, maybe you can post your trading journey so that others who are struggling to be consistently profitable, or even just...
Thanks a lot Strat,
It means a great deal to me to get such feedback from you. You are absolutely right, it has been a long frustrating journey but sticking with it and your methodology (even though as you say I was doing a bit of hopping), knowing in my heart that there is light at the end of the tunnel. I am far from consistent but feel that I am so close I can taste it. Light bulbs are coming on and I am liking what I see.

Regards
Terry
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