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Strat's PASR Long Term, Stress Free Trading

  • #15,261
  • Jun 21, 2022 4:05pm Jun 21, 2022 4:05pm
I was really hesitating if I should post this.

It is really embarrasing to be whipsawed like a total novice. I don't want to even show those two lousy trades I've made.

I must say that I do every possible mistake after I've returned on the Path. Sometimes I think that I should fade myself. I do not know if you had experienced smth like this but it is nothing pleasant.

I'm still blind, I can't even see when the market is ranging like hell! I trade in the range like it was trending plus it was shortly after US Open (they played really good tenis!).

The thing is that I missed almost all the trend move from the morning and when I returned it was over and wanted it to continue...

For me only rounded retest of the outer borders of the range. No f@#$%ing breakouts!

And yes I observe and learn on two instruments now DAX and eurusd.

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Trade what you see, not what you expect. BE LIKE WATER MY FRIEND.
  • #15,262
  • Jun 22, 2022 4:34am Jun 22, 2022 4:34am
EURUSD M1

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Trade what you see, not what you expect. BE LIKE WATER MY FRIEND.
  • #15,263
  • Jun 22, 2022 12:01pm Jun 22, 2022 12:01pm
M5 S&P 500

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Started out on M1 but switched to M5 as the "lumpy" PA on M1 is tiring me out.
15 YEARS OF PASR ON FOREX FACTORY!
  • #15,264
  • Jun 22, 2022 1:05pm Jun 22, 2022 1:05pm
Quoting Baniu
I was really hesitating if I should post this. It is really embarrasing to be whipsawed like a total novice. I don't want to even show those two lousy trades I've made. I must say that I do every possible mistake after I've returned on the Path. Sometimes I think that I should fade myself. I do not know if you had experienced smth like this but it is nothing pleasant. I'm still blind, I can't even see when the market is ranging like hell! I trade in the range like it was trending plus it was shortly after US Open (they played really...
Getting caught in CHOP & SLOP

I was really hesitating if I should post this.

It is much more important to show mistakes than winners so never be embarrassed -we have all made them and learned from them.

I must say that I do every possible mistake after I've returned on THE PATH

Maybe you should do a refresher on THE PATH again

Don't beat yourself up like this - stay calm and know it is just another bump on the road (THE PATH).

The thing is that I missed almost all the trend move from the morning and when I returned it was over and wanted it to continue...

So, whether you know it or not, you exhibited FOMO - FEAR OF MISSING OUT - your FIRST MISTAKE.

Usually, but not always, after a strong trend, particularly in a previous session (London), the Market gets tired and stale and goes into consolidation/range. The following session (NY) "smart money" often waits for the Market to "settle down" before making their move. The CHOP & SLOP is often we retail traders trading against each other.

I have never been successful trading breakouts of any sort without having some sort of confluence present.

Until you have the experience, before trading, ALWAYS check the next higher time frame to get the "bigger picture" view.

Had you done this (on M5)and marked it up as I have done, the consolidation/range would start showing up like a "SORE THUMB"!

At Globex Open (5:30am NY), the consolidation/range is already evident by observing:

SR
FLAT and HORIZONTAL Strat Shadow
Long WICKS and long TAILS

Unless you are a consistently profitable scalper on M1, you WAIT until there is a CLOSE below/above SR. To avoid the dreaded "fake out", WAIT for a retest of that SR and trade PA.

You also might want to switch to trading M5 instead of M1 - I find it hard to trade EURO on M1 unless there is a rip roaring trend.

The charts I am posting are EURO Futures which are different to EURUSD but PASR is PASR no matter what the instrument is.

The first 2 charts are your M1 MESS followed by the M5 solution

Hope this helps

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15 YEARS OF PASR ON FOREX FACTORY!
  • #15,265
  • Jun 22, 2022 1:18pm Jun 22, 2022 1:18pm
Quoting Baniu
EURUSD M1 {image}
You did good on this trade - you banked PROFIT but......................

Ask yourself WHY you did not bank profit at PASR - doji candles at SR

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15 YEARS OF PASR ON FOREX FACTORY!
  • #15,266
  • Jun 22, 2022 11:53pm Jun 22, 2022 11:53pm
Hi Strat,
Can you share with me the name of the broker you are trading with?
  • #15,267
  • Jun 23, 2022 12:20pm Jun 23, 2022 12:20pm
EURO

Started out on M5 EURO

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Then switched to M1 EURO and kept switching back and forth between M1 & M5

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15 YEARS OF PASR ON FOREX FACTORY!
  • #15,268
  • Jun 23, 2022 12:23pm Jun 23, 2022 12:23pm
Quoting sangnt0904
Hi Strat, Can you share with me the name of the broker you are trading with?
Can you share with me the name of the broker you are trading with?

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Guess what my answer is!
15 YEARS OF PASR ON FOREX FACTORY!
  • #15,269
  • Jun 23, 2022 1:57pm Jun 23, 2022 1:57pm
Quoting Strat
Maybe you should do a refresher on THE PATH again Don't beat yourself up like this - stay calm and know it is just another bump on the road (THE PATH).
Thank you very much for you comments Light in the tunnel gets brighter and brighter.

Yes, I need a refresher on THE PATH and I will do it.
When it comes to beating myself up after doing mistakes, I have tendency for that but I see progress. Nowadays I more often talk to myself rather than scold myself (Little People don't like it and then they sabotage).
Becoming father made thing easier on that score. I would not scold my son like that if he would struggle with smth really difficult, so why do it to myself?

Quoting Strat
So, whether you know it or not, you exhibited FOMO - FEAR OF MISSING OUT - your FIRST MISTAKE. Usually, but not always, after a strong trend, particularly in a previous session (London), the Market gets tired and stale and goes into consolidation/range. The following session (NY) "smart money" often waits for the Market to "settle down" before making their move. The CHOP & SLOP is often we retail traders trading against each other.
Yes, I'm working on FOMO right now, I see it.
MARKET WILL BE THERE ALWAYS AND ALWAYS WILL SHOW GOOD SETUPS.

I'm always going to miss opporutnities because I TRADE TO LIVE I DO NOT LIVE TO TRADE.


Quoting Strat
I have never been successful trading breakouts of any sort without having some sort of confluence present.
Me neither so all the more I won't trade breakouts for now. RETESTS OF RANGES.

Quoting Strat
Until you have the experience, before trading, ALWAYS check the next higher time frame to get the "bigger picture" view. Had you done this (on M5)and marked it up as I have done, the consolidation/range would start showing up like a "SORE THUMB"! At Globex Open (5:30am NY), the consolidation/range is already evident by observing: SR FLAT and HORIZONTAL Strat Shadow Long WICKS and long TAILS Unless you are a consistently profitable scalper on M1, you WAIT until there is a CLOSE below/above SR. To avoid the dreaded "fake out", WAIT for a retest of...
Yes this helps a lot, thank you!
It's great to see your take on that situation.
Trade what you see, not what you expect. BE LIKE WATER MY FRIEND.
  • #15,270
  • Jun 23, 2022 2:01pm Jun 23, 2022 2:01pm
Quoting Strat
EURO Started out on M5 EURO {image} Then switched to M1 EURO and kept switching back and forth between M1 & M5 {image} {image}
So that's how it is done in the range! Respect

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Trade what you see, not what you expect. BE LIKE WATER MY FRIEND.
  • #15,271
  • Jun 23, 2022 2:27pm Jun 23, 2022 2:27pm
Quoting Strat
{quote} You did good on this trade - you banked PROFIT but...................... Ask yourself WHY you did not bank profit at PASR - doji candles at SR {image}
EXPECTATIONS that it will go higher.

MIND'S PROJECTION placed on the chart.

LACK OF EXPERIENCE

More repetitions of my signature needed and more trading.
Trade what you see, not what you expect. BE LIKE WATER MY FRIEND.
  • #15,272
  • Jun 23, 2022 4:47pm Jun 23, 2022 4:47pm
Quoting Baniu
{quote} So that's how it is done in the range! Respect {image}
That's the M5 chart where I only took the first trade - the rest I traded on M1
15 YEARS OF PASR ON FOREX FACTORY!
  • #15,273
  • Edited 2:39am Jun 24, 2022 2:19am | Edited 2:39am
Im short on CadJpy , and got stopped out.

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  • #15,274
  • Jun 24, 2022 3:07am Jun 24, 2022 3:07am
EURJPY
Hi strat, i saw eurjpy at the bottom of WCC and the risk in Worker was poor so i dropped at H4 for a 1:2 RR.
Yellow line is my SL.
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  • #15,275
  • Jun 24, 2022 4:16am Jun 24, 2022 4:16am
Quoting Indipip
Im short on CadJpy , and got stopped out. {image}
Hi Indipip,

Did you take this trade from M5? You showed H1 chart. It is not possible to analyze your loss not seeing the chart you traded from.
For instance, for me, looking at H1 chart, your SL placement does not make any sense.

Could you show the chart you traded from and write more about reasons why you did this trade?
Trade what you see, not what you expect. BE LIKE WATER MY FRIEND.
  • #15,276
  • Jun 24, 2022 6:38am Jun 24, 2022 6:38am
hi Baniu,

yes i was trading the m5 breakout, or at least in my mind it was a breakout.
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  • #15,277
  • Edited 12:04pm Jun 24, 2022 9:34am | Edited 12:04pm
Quoting Indipip
hi Baniu, yes i was trading the m5 breakout, or at least in my mind it was a breakout.{image}

Hi,

If you could show exactly where was your SL on M5 form which you took this trade it would be much easier and quicker to analyze.
Anyway judging from the SL line on H1 I assume it was around 103.77
I quickly realised that you were in the money at the beginning (more than 10 pips!). We cannot give away so much profit to the market, not to mention allowing to be stopped out at initial SL place.
First of all it is topic of trading breakouts from the range, so I can refer you to Strat's post https://www.forexfactory.com/thread/...1#post14041311.
I have just been dabbling with trading breakout from the range and got burned.

The safest approach would be to wait for retest of the bottom of the ractangle showed on the chart.
PA was showing you to close the trade at breakeven point. You could also close it 5 pips later seeing M15 hammer.
Now, I think I'm experiencing smth similar, namely HOPE. When the trade goes against me I often forget that I'm PASR trader and I do not see obvious signs that market does not give a shit about my expectations. I'm hoping that it will turn around but it often does not turn around and I lose full R.
HOPE IS KILLER WHEN YOU TRADE.
WHEN WE ARE IN THE BAD TRADE, WE NEED TO BE EVEN MORE VIGILANT TO BE READY TO CUT OUR LOSS.

When you see PA is going against your trade, run away!. Put buy/sell stop above/below the nasty candle and lose three times less.
Yes sometimes it will turn around but more often than not it won't.
In the last few trades I lost 2R instead of 2/3 R because of hope. WE ARE PASR TRADERS, WE TRADE WHAT WE SEE ON THE CHARTS!

Hope it helps.

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Trade what you see, not what you expect. BE LIKE WATER MY FRIEND.
  • #15,278
  • Jun 24, 2022 10:03am Jun 24, 2022 10:03am
M1 S&P 500

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15 YEARS OF PASR ON FOREX FACTORY!
  • #15,279
  • Jun 24, 2022 11:27am Jun 24, 2022 11:27am
thx Baniu for your feedback, your are right, i should have closed it much earlier or at least at the m15 Hammer.
  • #15,280
  • Jun 24, 2022 2:52pm Jun 24, 2022 2:52pm
Quoting Indipip
hi Baniu, yes i was trading the m5 breakout, or at least in my mind it was a breakout.{image}
Hi
When you enter there is no clear direction and no breakout
London wakes up and forms the hammer on the previous day's lows and you need to start thinking to buy at that point. Which that exact hammer would give you a nice small stop below. Your risk is minimal and if it proves you wrong, well then you will have a breakout after that
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