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Strat's PASR Long Term, Stress Free Trading

  • #15,201
  • Jun 10, 2022 12:39pm Jun 10, 2022 12:39pm
Quoting Baniu
{quote} Good job for doing the exercise for so long. As you can see it is simple but not easy. That thing you did for simplicity (keeping 1:1 RR) could skew the result. Trading is simple but we should not do it too simple and trade like robots. The second most important thing after cutting loses short is letting profits run, which is really hard. It is good to lock in profits (avoiding being stopped out at loss or BE) but we need to be open to scenario that our trade will go ad infinitum in the right direction (RR 1:∞) Try maybe the...
Good advice.

You are doing well on THE PATH, Baniu, keep studying and learning. Helping others also helps you as I have found out across these 13 years.

As you can see it is simple but not easy

But it does get easier as you build experience.

Trading is simple but we should not do it too simple and trade like robots.

Spot on! Trading is NOT, and NEVER will be, a "see this, do this, then when this happens, do this etc" activity. The Market is Dynamic and constantly evolving and changing which is why those trading EAs and black boxes wonder why they LOSE in the long term.
15 YEARS OF PASR ON FOREX FACTORY!
  • #15,202
  • Jun 10, 2022 1:01pm Jun 10, 2022 1:01pm
Quoting bistolis
Good morning. 50pips to start the day with a smile and more to be posted later. At the red dot would be a great entry but I wasn't paying attention while sipping my espresso.{image} EDIT: I closed GBPAUD after London woke up. (out of fear mostly) 40 or so on this one {image} After some bad 3 weeks, where I don't perform at all great (taking a lot of small losses because I enter bad trades), I exited those 2 positions to book some solid wins to boost my confidence. If my psychology wouldn't have taken a hit , there is no reason to close those positions...
Well done, bistolis!

I wasn't paying attention while sipping my espresso.

Concentration and Focus at all times when trading bistolis

out of fear mostly..............If my psychology wouldn't have taken a hit

"There is nothing to fear but fear itself" - Franklin D. Roosevelt.

I, along with every other trader on The Planet have, or have add, this dilemma. I am mostly over it (even after trading since 1988) but occasionally it rears its ugly head. Make sure your position sizing is within your Money Management rules, make sure you can financially handle any unexpected Market occurrence and BELIEVE and have CONFIDENCE in your application of PASR.

From a pure psychology point of view, some gain benefit from "visualising" their trades and holding until their "visualisation" is met. One techno-psychologist once gave me a technique to allegedly shut down the "noisy" part of my brain to focus on my trading. I tried and have used it and, even the other day when I traded Euro and Dow simultaneously, used it. Does it work? I don't know but it never did any harm.

Another "old timer" once told me in my early trading days - "Make sure you have nerves and balls of steel!"

After some bad 3 weeks, where I don't perform at all great (taking alot of small losses because I enter bad trades), I exited those 2 positions to book some solid wins to boost my confidence.

You may not agree, bistolis, but, from the feedback I have had from those on here, the fact that you are posting and helping others has HELPED you. Trading is a very lonely activity and it HELPS to surround yourself with other like minded people.
15 YEARS OF PASR ON FOREX FACTORY!
  • #15,203
  • Jun 10, 2022 1:12pm Jun 10, 2022 1:12pm
Quoting Baniu
{quote} Congrats Bistolis, great trades, I wish you that these trades boost your confidence. I understand you, it is really hard to let profits run. What drew my attention is GBPNZD chart. In this trade you did not close the trade at pretty big BUEB but you did at the close of big bearish, which smashed this BUEB. I was wondering if you were at monitor when this BUEB occured. Anyway good job, profit is profit. If only I could sit on my hands and take only trades like this. {image}
For one thing I like a nice fat strat shadow, it keeps me in the trade whenever some candles form(like the one you point out). The trend is rolling at that point. Just because some structure shows up, like hammers and shooting stars, it means nothing by itself (maybe some pullback to the shadow) unless it is at SR (and sometimes not even this matters). I have to trust what I learned from experience AND the strat shadow
My exit is purely 50pips target and as you can see when I exit a nice fat bearish candle formed, where I could have added more.

The balls of steel part is a nice skill to have indeed
  • #15,204
  • Jun 10, 2022 1:26pm Jun 10, 2022 1:26pm
Quoting Strat
{quote} Well done, bistolis! I wasn't paying attention while sipping my espresso. Concentration and Focus at all times when trading bistolis out of fear mostly..............If my psychology wouldn't have taken a hit "There is nothing to fear but fear itself" - Franklin D. Roosevelt. I, along with every other trader on The Planet have, or have add, this dilemma. I am mostly over it (even after trading since 1988) but occasionally it rears its ugly head. Make sure your position sizing is within your Money Management rules, make sure you can financially...
I agree it does help. I help out as much as I can and learn from others. The posts on this thread has helped alot the last few years. A thing to mention to others though is that no matter how much we help and clarify things and show our trades, whoever wants to learn and improve has to DO the work. watching charts and afterwards analyzing and looking at where a good entry was has value BUT it means nothing if someone cant do it WHILE it happens. There are countless of trades I didnt take while I should and others that I didnt even notice (only when it was too late). I am improving though and posting the trades helps me as well as everyone here. I will try to post some loser ( which I had plenty ) although for now I would like to show people what a winning trade looks like. And these trades are not exceptional but decent.

Playing poker for many years has taught me money management. I guess I am lucky on that part and I avoided blowing up accounts, even demo accounts. My advice for newcomers is to work on risk/money management to avoid the risk of ruin (blowing up). Then start working on your mental game (to acquire those balls of steel) and the rest will come with experience.
  • #15,205
  • Jun 10, 2022 9:53pm Jun 10, 2022 9:53pm
Quoting Strat
{quote} Iris, Get a chart of D1 EURUSD and identify and mark it up from W1 and M1. Then go back as far as your data allows and do the F12 exercise and mark up your trades.
Hi Strat,

Below are the Daily TF SR draw from present back to 1990's. Split into 10 charts.
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Please advise if I am doing this correctly? Thank you very much in advance - thank you thank you thank you.

Regards,
Iris.
Iris
  • #15,206
  • Jun 10, 2022 9:54pm Jun 10, 2022 9:54pm
This is the 1M SR marked up from present back to 1990's.
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These are the SR marked on the weekly from present back to 1990's, split into 3 charts.
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This is the 1M SR marked up from present back to 1990's.


These are the SR marked on the weekly from present back to 1990's, split into 3 charts.
Iris
  • #15,207
  • Jun 11, 2022 2:36am Jun 11, 2022 2:36am
Quoting irismonster
This is the 1M SR marked up from present back to 1990's. {image} These are the SR marked on the weekly from present back to 1990's, split into 3 charts. {image}{image}{image} This is the 1M SR marked up from present back to 1990's. These are the SR marked on the weekly from present back to 1990's, split into 3 charts.
Hi
The important SR is monthly> weekly> daily and so on. The biger the timeframe the stronger an SR might be. after you mark them fine tune them. most of those are not worth having on the chart. Some SR on the daily 3 years back might not be at all important, unless it happens to be a monthly. Start removing some that dont make sense on the weekly/monthly. and then you just need to watch the ONE above current price and the ONE below. I dont trade the daily charts , so I dont have much experience with all of PASR. The method and PA works on all timeframes not matter what though
  • #15,208
  • Jun 11, 2022 6:40am Jun 11, 2022 6:40am
Hey Strat

Great thread!

Just want to ask why you trade futures? In my experience, the cost of trading is larger when fees and spread are taken into account (as opposed to spot/cfd brokers like peperstone). But I guess you have your reasons so please share.

Thanks
  • #15,209
  • Jun 11, 2022 8:47am Jun 11, 2022 8:47am
Quoting Agro
Hey Strat Great thread! Just want to ask why you trade futures? In my experience, the cost of trading is larger when fees and spread are taken into account (as opposed to spot/cfd brokers like peperstone). But I guess you have your reasons so please share. Thanks
In my experience, the cost of trading is larger when fees and spread are taken into account (as opposed to spot/cfd brokers like peperstone).

This used to be the case when Futures/Commodity trading was only for those with big trading accounts. These days, Futures trading is very competitive with the introduction of micro and mini futures on most instruments. My cost of trading Futures including commissions, Exchange Fees and NFA Fees is significantly less than that for Forex.

My main reason though is that I used to drive myself crazy trying to find the Forex pair which was moving/volatile - many times I ended up on the wrong horse. With Futures, there is always action on the indices and major currencies.
15 YEARS OF PASR ON FOREX FACTORY!
  • #15,210
  • Jun 12, 2022 1:47am Jun 12, 2022 1:47am
Quoting Strat
{quote} In my experience, the cost of trading is larger when fees and spread are taken into account (as opposed to spot/cfd brokers like peperstone). This used to be the case when Futures/Commodity trading was only for those with big trading accounts. These days, Futures trading is very competitive with the introduction of micro and mini futures on most instruments. My cost of trading Futures including commissions, Exchange Fees and NFA Fees is significantly less than that for Forex. My main reason though is that I used to drive myself crazy trying...
Thanks for the quick reply!
  • #15,211
  • Edited 5:16pm Jun 12, 2022 2:16pm | Edited 5:16pm
DAX M1

On 10.06.2022 I traded New York session on DAX index.

When I started observing market it started to make HH and HL. It turned out to be channel range trading.

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1. Seeing but not believing what this bullish Saddle candle is telling me. This was actually the second one showing what would be next bigger move.
2. Last call to enter bullish train. Candle piercing through Strat Shadow and entering M5 Strat Shadow.
3. The market went into small range and showed strenght on the seconed test of static support. Pulled the trigger - entered long but closed at BE after bearish OB.
4. Now I see third strong reaction to the support and I see that the price is at TL, price piercing Strat Shadow again. Nice confluence I think and I'm sure we are going north but I fail to pull the trigger because of few misclicks in a row (most of the time I want to enter with buy stop order). That was really frustrating to see market moving away in the right direction without me but I decided that I WILL NOT CHASE THE MARKET.
5. Great opportunity to enter long. Price at static support, dynamic support of 100 MA, moving out of Strat's Shadow
6. Risky short. Price moving out of Strat Shadow but TL was very close and I decided to close very near TL. In my experience prices makes almost always a small wobble at TL before breaking it, so I was expecting some reaction and it did come quite strongly.


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7. I decided to enter long when the price closed above Strat Shadow, it was also above static support. I said to myself I will not close as long as we are above 20. I exepected the price to visit channel's upper TL and M5 72 EMA.
8. After the test of the lower TL (where I started to think about going short) the price showed strenght again, so I entered long again. Unfortunately big bearish candle at static resistance and M5 72 EMA made me close this trade pretty soon.
9. After the market made LH and showed two big bearish candles I decided to enter short. Price went into both Strat Shadows (M1 and M5). I thought hmm maybe this is it and we will finally break lower TL of the channel. NO - she was not ready yet. But that's ok because she told me that with bullish hammerish candle, so I could jump out just in time just before the next rally.
10. Ok, if not short, not this way, maybe you want to go once again to the upper TL. I decided to go long, unfortunately because of misclicking I entered late and it looks like FOMO trade. It ended with small profit, because as it turned out later NOW she was ready. Unfortunately I stopped watching DAX just after this trade was closed, so I missed breaking of TL, which was touched 9 times before giving in at 10.

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Bruce Lee talks about entering and exiting the market. Empty your mind, be formless, shapeless like water, be water my friend!

Inserted Video


Now it is yin - feminine aspect, archetype, energy, psychological trait (whatever you want to call it). Ability to follow, adjust to smth, being lead by smb.
Maybe that's why statistically woman have better chance to become good traders, because naturally they have better access to this aspect of psyche?
Men are generally more stiff cognitively, less flexible, trying more often impose their will etc. BUT when we deal with the market, when we make decision at the hard right edge, we (everybody) need to be able follow, to listen patiently, to empty our mind and allow ourselves to be lead by the market. Fortunately according to Carl Gustav Jung men have their anima - feminine aspect, so there is hope! Some food for thought, this just my philosphical rant and some generalization but maybe it will inspire you somehow, maybe there is kernel of truth in it.
Trade what you see, not what you expect. BE LIKE WATER MY FRIEND.
  • #15,212
  • Jun 13, 2022 12:31pm Jun 13, 2022 12:31pm
M1 EURO

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15 YEARS OF PASR ON FOREX FACTORY!
  • #15,213
  • Jun 13, 2022 12:53pm Jun 13, 2022 12:53pm
M1 EURO

Thought we had finished for the day

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15 YEARS OF PASR ON FOREX FACTORY!
  • #15,214
  • Jun 13, 2022 1:38pm Jun 13, 2022 1:38pm
M1 EURO

Every Ready Bunny keeps running!

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It may not be done but the Big Boss has told me I am!

So much for the self appointed Gurus and Experts who say not to trade on Mondays!
15 YEARS OF PASR ON FOREX FACTORY!
  • #15,215
  • Jun 13, 2022 6:31pm Jun 13, 2022 6:31pm
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Who knows - he blew in like the West Texas Wind and fizzled out like a wet smelly fart!
15 YEARS OF PASR ON FOREX FACTORY!
  • #15,216
  • Jun 14, 2022 4:58am Jun 14, 2022 4:58am
DAX M1

WAIT PATIENTLY FOR THE MOVE, WAIT UNTIL THE SCENARIO PLAYS OUT.

The problem is (with PASR not so much!) that before market really moves it makes tons of gimmicks.
I shot 4 times but missed the 5th opportunity, which was finally a bigger move.

Price was at green Strat Shadow and entering into M5 Strat Shadow.

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1. Could have trailed SL by the bottoms of the candles to squeeze a bit more. From the very beginnig PA showed that from this point bigger move is rather unlikely.
2. I had static support behind my back, so I decided not to close during long period of consolidation. Stop beneath big bearish candle was not triggered. I have given away too much, because I thought that it must be it, now it will move.
3. This time I moved quickly to BE. I like to play defensively and I struggle with moving SL to BE. Sometimes I do it too quickly. I need to find middle way.
4. Fourth one was finished by the shooting star.
5. Price retested TL, produced big bullish candle but I was not there...
Trade what you see, not what you expect. BE LIKE WATER MY FRIEND.
  • #15,217
  • Jun 14, 2022 5:23am Jun 14, 2022 5:23am
Price is inside the shadow
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You might want to practise patience
and wait for something like this
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  • #15,218
  • Jun 14, 2022 7:22am Jun 14, 2022 7:22am
Today is my second 37th birthday!
15 YEARS OF PASR ON FOREX FACTORY!
  • #15,219
  • Jun 14, 2022 7:27am Jun 14, 2022 7:27am
Quoting Strat
Today is my second 37th birthday!
nice . happy birthday
  • #15,220
  • Jun 14, 2022 7:39am Jun 14, 2022 7:39am
Quoting Strat
Today is my second 37th birthday!
Happy birthday Strat

May the joy that you have spread in the past come back to you on this day
Trade what you see, not what you expect. BE LIKE WATER MY FRIEND.
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