Strat's PASR Long Term, Stress Free Trading | Page 752 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

MY PASR journey Based on Strat's PASR Trading 76 replies

M5 PASR Trend Trading Strat 95 replies

My PASR Trend Trading Journals 3 replies

A young trader's road to profitability - PASR trading - Live 11 replies

Fibs trading and PASR 0 replies

Attachments: Strat's PASR Long Term, Stress Free Trading
Exit Attachments

Strat's PASR Long Term, Stress Free Trading

  • #15,021
  • Mar 16, 2022 7:50pm Mar 16, 2022 7:50pm
Quoting Strat
{quote} There are many ways to use a shorter time frame than the one you are trading on, you just have to find what suits your trading style. I cannot give you "live" examples because I trade the other way around - I trade M1 using M5 for my guide. Here is M5 looking for a place to add on to the trend. {image} Toggle down to M1 to find the entry remembering that the M5 07:30 candle CLOSES at 07:35 {image} Here is M5 looking for a place to TP the Swing Down {image} Toggle down to M1 to find TP again remembering that the M5 11:30 candle CLOSES at...
Exactly, Strat!
Each person has a unique way of trading for them, can not be the same.
One strategy may work for one person but not for another because of their time of research and experience. More than that is their view of the market.
Whether you give them your entries. They probably won't do well and worse, lose money and blame your strategy.
You are here to help a lot of traders whenever anyone has questions about your strategy. I'm so grateful to you, Strat. I think those who have had success with your teaching are very grateful to you.
  • #15,022
  • Mar 17, 2022 3:08am Mar 17, 2022 3:08am
Quoting Strat
Appreciation of 13 years on Forex Factory {image}
Well done and congratulations Strat!

Regards
Pete
  • #15,023
  • Mar 17, 2022 12:27pm Mar 17, 2022 12:27pm
Mathematician Paul Halmos on what distinguishes the best from the rest:

"I read once that the true mark of a pro — at anything — is that he understands, loves, and is good at even the drudgery of his profession."
Source: I Want to be a Mathematician - Posted on Jamesclear dotc. - Author of Atomic Habits, a book well worth reading.

This is a thought that is perfectly aligned with the teachings from Strat - there is no short cut to success on the PASR Path, and quite frankly, anything that is worthwhile achieving in life. Put in the time, but love putting in the time, else you are probably wasting your time.

Pete

P.S - Strat, Please accept my apologies for my long absence from the thread.
  • #15,024
  • Mar 18, 2022 9:37am Mar 18, 2022 9:37am
Hi Strat! I hope to share my brief experience from your PSAR thread. This would be a long post, but hope you bear with me! (and my english)

First of all I want to thank you for what you starting the PSAR thread more than a decade ago, this is the sole reason now why I haven't quit trading.

I've started studying forex in May 2021 and had your original thread bookmarked for a long time (along with other bigger threads in FF) but had never had a look at it. I started in the indicator wonderland, tried all sorts of cross-over strategies, started a small live account to practice, lost 25% of the equity there, at some point I thought I had a working crossover strategy, started a prop firm challenge, failed that one big time (it was the most nerve recking month ever!) and then I said to myself, stop, nothing is working. I read through reddit a lot and see lots of posters asking to go through the PA route and nothing else. I said to my self, what's the harm? let's have a go at that too!

I read through the candle stick bibles and another nielson book which is often recommended. It made sense, but it had so many chart patterns I kept wondering who the heck is able to keep track of this? I tried to apply all of that on demo but I wasn't approaching it structurally or methodically. All this changed when I started reading your original thread from Feb 2009, Strat's Long Term Stress Free Trading. For the last 4 months or so, I have gone over close to 600 pages and 11.3k posts on that thread. I am reading, studying, understanding every chart that a member posts, and only following your guidance on TFs, hammers, shooting stars, BU&BE engulfing bars (I don't touch outside bars yet as for some reason I'm not so confident in those). The difference in my trading since I started applying what I learnt from your thread has been night and day.

 

  1. Indicators: i've left behind all the indicators, even the MAs (i do switch on them, but by default its just hidden) and gone with ONLY Price action, support and resistance and sometimes DSIR lines. I'm still practicing on my small account (made back the equity i lost) with 0.01 lots and been practicing demo as well.
  2. Overtrading: I'm mindful that its a decade long thread (and extremely long one, in length), but the basics remain the same. Your posts on money management/trade planning taught me how to manage risks and no longer overtrade—for example, I've gone from taking over 75 trades a week to just 2-3 a week. Given that I'm limiting myself to a small account and trading the Daily's meant money management becomes extra tough and extremely crucial. And that's alright, I think that's how I'll properly learn patience step by step and only limiting to the very best setups.
  3. Time: I have an extremely time consuming and demanding day job (which I hope to leave behind at some point). Pre-PSAR: I was checking charts in and out during office hours, after hours, while pausing for a rest after a jog, while i'm at bed when the wife has dozed off, etc etc, and overwhelming my self, but nah, not anymore. i've got 27 currency pairs on a watch list which I can do a quick check before I go to sleep in around 30 minutes and not worry about it throughout the day.

I'm hoping to finish that first thread and maybe catch up in this thread and contribute. I see a lot has happened since the original thread!. I was skim reading through the later parts of the first thread, and this one, and at one point was surprised to see a strat shadow, and then later, horrified to say the least, to see strat operating down in the 15m charts! My initial thought was did the lower TFs get strat finally??? (You Either Die A Hero, Or You Live Long Enough To See Yourself Become The Villain - Batman, The Dark Knight).

But as I read on #thestrat, as I understood, it is still just price action, some of which you recognise already when you put in the hours at the charts. I follow a few of strats students on twitter and see the charts, the setups, the 212 downs, etc. There are so many more instruments at play now too, options, futures and stocks, most of which I don't understand at this point, but hopefully I will get to that point where I can trade those. There is still lot to catch up, and there is really no shortcut to getting there. The poster before me said it the best..

Quote
there is no short cut to success on the PASR Path, and quite frankly, anything that is worthwhile achieving in life. Put in the time, but love putting in the time, else you are probably wasting your time.


Absolutely bang on.
  • #15,025
  • Mar 19, 2022 9:40am Mar 19, 2022 9:40am
Quoting JCMPete
Mathematician Paul Halmos on what distinguishes the best from the rest: "I read once that the true mark of a pro — at anything — is that he understands, loves, and is good at even the drudgery of his profession." Source: I Want to be a Mathematician - Posted on Jamesclear dotc. - Author of Atomic Habits, a book well worth reading. This is a thought that is perfectly aligned with the teachings from Strat - there is no short cut to success on the PASR Path, and quite frankly, anything that is worthwhile achieving in life. Put in the time, but love...
Thank you, Pete. I thought you had left with Elvis just like all the others!
15 YEARS OF PASR ON FOREX FACTORY!
  • #15,026
  • Edited 10:56am Mar 19, 2022 10:31am | Edited 10:56am
Quoting sibrahi4
Hi Strat! I hope to share my brief experience from your PSAR thread. This would be a long post, but hope you bear with me! (and my english) First of all I want to thank you for what you starting the PSAR thread more than a decade ago, this is the sole reason now why I haven't quit trading. I've started studying forex in May 2021 and had your original thread bookmarked for a long time (along with other bigger threads in FF) but had never had a look at it. I started in the indicator wonderland, tried all sorts of cross-over strategies, started a small...

Thank you for your appreciation and for taking the time to post this.

For the last 4 months or so, I have gone over close to 600 pages and 11.3k posts on that thread.

That is dedication and what needs to be done if a trader wants to become “consistently profitable”. We never stop learning and I continue to study PASR each and every day.

I've gone from taking over 75 trades a week to just 2-3 a week.

Well done, that is a big achievement, pat yourself on the back!

I'm hoping to finish that first thread and maybe catch up in this thread and contribute.

While it’s a laborious process, I strongly recommend you do it and then do the same for this thread.

“and at one point was surprised to see a Strat Shadow”

Do not overlook the POWER and POTENTIAL of the Strat Shadow as many PASR traders do. Learn and understand it as much as you are doing with PASR. Focus on Terry Dawe’s posts as he understands the Strat Shadow more than most on here.

“horrified to say the least, to see Strat operating down in the 15m charts!”

Well, that is now 1 minute charts. When you have been doing this for as long as I have and you are addicted to trading, the Daily chart is like trading a lifetime for me. Similarly with M15 and M5. I am at the point in my trading where I can almost trade with the rhythm of the Smart Money and even 1 minute sometimes seems a long time.

I follow a few of Strats students on twitter and see the charts, the setups, the 212 downs, etc.

I didn’t know this as I’m not on Social Media but I would be interested to learn more.

There are so many more instruments at play now too, options, futures and stocks, most of which I don't understand at this point

Apart from Options, all financial instruments revolve around fractal Price Action and therefore can be traded with PASR including manipulated instruments like Crude Oil and Swiss Franc.

as I understood, it is still just Price Action

Correct, but understanding Price Action and being consistently profitable are light years away from each other. There are many so called “traders” on Public Forums who profess to trade Price Action but when it comes to trading “at the hard right edge”, they can’t trade out of a wet paper bag.

As I have posted all these years, Trading Psychology and Money Management, along with a dose of Price Action, are what makes a “consistently profitable” trader.

I look forward to your further exploits with PASR and encourage you to ask questions on anything you don’t understand. Good luck!
15 YEARS OF PASR ON FOREX FACTORY!
  • #15,027
  • Mar 21, 2022 3:17am Mar 21, 2022 3:17am
I read some posts of this thread but not everything.
I am almost blind and I have a lot of issues to read so many pages |
Please let me know at which post you explain exactly how to determine the areas of support and resistance.
And hoow these are connected to M5
Thank you very much
  • #15,028
  • Mar 21, 2022 6:28am Mar 21, 2022 6:28am
Hello
Can any member advise me, where can I find a summary of this method?
I know it is based on price action, but from what point of view.
Is it based on Pinbars, engulfing and etc; or support and resistance breaking.
I saw a video summarizing this method, but it is not working anymore due to the flash player had been expired.

Regards
  • #15,029
  • Mar 21, 2022 9:19am Mar 21, 2022 9:19am
Quoting maptoprofit
Hello Can any member advise me, where can I find a summary of this method? I know it is based on price action, but from what point of view. Is it based on Pinbars, engulfing and etc; or support and resistance breaking. I saw a video summarizing this method, but it is not working anymore due to the flash player had been expired. Regards
Post 1, always the best place to look

"Here also is THE PATH as used and taken from my now expired private website and is now FREE for all. Thank you to Tetulla for posting this

https://web.archive.org/web/20120603...rning:overview"
  • #15,030
  • Mar 21, 2022 11:15am Mar 21, 2022 11:15am
Quoting rosone
I read some posts of this thread but not everything. I am almost blind and I have a lot of issues to read so many pages | Please let me know at which post you explain exactly how to determine the areas of support and resistance. And hoow these are connected to M5 Thank you very much
Please check your private messages.
  • #15,031
  • Mar 21, 2022 1:17pm Mar 21, 2022 1:17pm
Quoting rosone
I read some posts of this thread but not everything. I am almost blind and I have a lot of issues to read so many pages | Please let me know at which post you explain exactly how to determine the areas of support and resistance. And how these are connected to M5 Thank you very much
I am almost blind

I'm sorry but trading technical charts is the last thing you should be doing with this condition - 95% of the traders with perfect vision can't even make consistent profits.
15 YEARS OF PASR ON FOREX FACTORY!
  • #15,032
  • Mar 22, 2022 8:59am Mar 22, 2022 8:59am
I posted on February 29th #14,958 the significance of the strat shadow crossing with example of NZDJPY. I thought I would post a follow up today.
Looking at the same area with confluence of BRN 79.00 and fib 50 a good entry at that area on the close above the shooting star March 7th.
As stated in previous post this is not always the case on all pairs but if you mark the area and leave on your charts, the ones of significance will pop out at you.
Attached Image (click to enlarge)
Click to Enlarge Name: NZDJPYDaily.png Size: 40 KB
  • #15,033
  • Mar 22, 2022 2:51pm Mar 22, 2022 2:51pm
Quoting TerryDawe
I posted on February 29th #14,958 the significance of the strat shadow crossing with example of NZDJPY. I thought I would post a follow up today. Looking at the same area with confluence of BRN 79.00 and fib 50 a good entry at that area on the close above the shooting star March 7th. As stated in previous post this is not always the case on all pairs but if you mark the area and leave on your charts, the ones of significance will pop out at you. {image}
Hi Terry

Long time no speak. This is really an an awesome post with so many PASR lessons imbedded in it.

Regards
Pete
  • #15,034
  • Mar 26, 2022 11:57am Mar 26, 2022 11:57am
JYEN D1

Only 5 days left until the end of Japan's Fiscal Year

Attached Image (click to enlarge)
Click to Enlarge Name: a.PNG Size: 40 KB
15 YEARS OF PASR ON FOREX FACTORY!
  • #15,035
  • Mar 26, 2022 12:07pm Mar 26, 2022 12:07pm
Quoting TerryDawe
I posted on February 29th #14,958 the significance of the strat shadow crossing with example of NZDJPY. I thought I would post a follow up today. Looking at the same area with confluence of BRN 79.00 and fib 50 a good entry at that area on the close above the shooting star March 7th. As stated in previous post this is not always the case on all pairs but if you mark the area and leave on your charts, the ones of significance will pop out at you. {image}
Very interesting, Terry.

This is 2 days of Strat Shadow crosses on M1 JYEN

Attached Image (click to enlarge)
Click to Enlarge Name: a.PNG Size: 53 KB
15 YEARS OF PASR ON FOREX FACTORY!
  • #15,036
  • Mar 27, 2022 1:51pm Mar 27, 2022 1:51pm
Quoting Strat
{quote} Very interesting, Terry. This is 2 days of Strat Shadow crosses on M1 JYEN {image}
Yeah I have been doing a fair amount of research on several pairs and different time frames from the monthly all the way down and it's uncanny how in many cases the crosses provide a clear area of support/resistance.
They mostly do have confluence with other factors such as BRNs but it does help point out how some BRNs are more significant than others.
Anyway I have added this tool to my toolbox and find it helpful.

Regards
Terry
  • #15,037
  • Apr 6, 2022 11:42am Apr 6, 2022 11:42am
Inspiration for PASR traders

$Canadian
Attached Image (click to enlarge)
Click to Enlarge Name: b.PNG Size: 49 KB

$Australian
Attached Image (click to enlarge)
Click to Enlarge Name: a.PNG Size: 42 KB

$Euro
Attached Image (click to enlarge)
Click to Enlarge Name: c.PNG Size: 45 KB

$Yen
Attached Image (click to enlarge)
Click to Enlarge Name: d.PNG Size: 50 KB

$New Zealand
Attached Image (click to enlarge)
Click to Enlarge Name: e.PNG Size: 42 KB
15 YEARS OF PASR ON FOREX FACTORY!
  • #15,038
  • May 6, 2022 9:14pm May 6, 2022 9:14pm
I have nothing to say --
https://www.bing.com/th?id=OIP.u816-...6&pid=3.1&rm=2

  • #15,039
  • May 7, 2022 11:24am May 7, 2022 11:24am
I have been reviewing my statistics in an effort to improve my profit efficiency. As a result, I am tweaking my PASR style along with my findings.

My first action is to change broker as, among other issues, they refused to give me A1 order book status which I have enjoyed with other brokers. The disadvantage with my new broker is that they don't have MT5 and instead have their own charting platform and data. Since I don't have the desire to learn new platforms, I will use MT5 as my trading chart and the new broker for executing trades.

I have settled on M1 time frame as my M1 overall profitability is better than M5. Another change is to trade less instruments. My findings show that Euro and Dow futures are more profitable for me. My style was always to load up on one instrument instead of sharing margin between several instruments. Having a currency and stock index allows me to trade the active/volatile instrument.

A surprise finding was my Money Management. Over the years, my tolerance for draw down grew less and as a result, I used a tight stop loss and draw down resulting in lots of small losers and many big wins. My strategy was to exit on any sign of weakness and get back in when strength returned but I didn't always do that. Sometimes I would be distracted and forget to get back in missing a good move while on others I would get back in and the swing/trend would reverse on me.
My findings show that I would be better allowing a larger stop loss and draw down in an effort to capture more of the swing/trend. This will be a huge mental and disciplined effort for me to do this but I'm going to give it a shot.

I will post charts as I get up to speed with these new tweaks to my PASR style
15 YEARS OF PASR ON FOREX FACTORY!
  • #15,040
  • May 8, 2022 4:37am May 8, 2022 4:37am
Hey there. I hope everyone is okay. I haven’t been around in long time. Hope everyone is having profits. My personal advice to all new people in trading is to start to invest. Reality is simple 90% of traders lose money the number of traders who make living of it is even lower. What is the chance of you getting there? Difference is that investing is really simple way to get richer or save money. All you need is patience. Simply time in markets best timing in markets. With very simple timing you can prevent drawdowns. Simple random stock pick is enough to beat the market. Dollar cost average for 10-15 years and you will have your fortune. Everybody wants to get richer, trying to predict the markets in lower timeframe is not my way. How many people you see here in Forex factory that are profitable and how many of them are trading for a living. How many of the tens of thousand people who visited Forex factory are living their dream? Harsh reality is not many. Don’t waste time but save yourself time. Start to invest and make money constantly. It’s really addictive to trade on the financial markets and people often do it to satisfy their addiction. Being around the so called big boys for around a year some of them trading with 500k personal accounts and 90% of them are ex employees in some the biggest hedge funds in the world and investment companies has charged my view. Retail trade is doomed to fail. It’s is hardly to believe the same are kind of profitable. Big boys need two lines to finish that job for the year. That is not my personal threat and I’m not trying to disrespect start in any way. Nothing personal for other members too.
You attract what you think in any area of life, relationships and trading!
21 traders viewing now