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Strat's PASR Long Term, Stress Free Trading

  • #16,761
  • May 5, 2023 3:26am May 5, 2023 3:26am
This guy left us, went thread hopping in search of the Holy Grail and this is what he posted on his new "Make Me Rich" thread. Had he done like you, he would have done much better, but who knows?

Wow,
Really,
Strat you are indeed amazing.
Its intriguing to note how you are able to dig out these information.
I have even forgotten that I went 'thread hopping' to this site. I saw the link here posted by one your regulars and only visited it to see what he was doing there.
I am however happy that there is a possibility that you believe in me becoming a better learner(trader) if only I could focus more on PASR, post more on this channel and leverage more on the wealth of experience on the platform.
Its well with us all.
Thank you
  • #16,762
  • May 5, 2023 4:50am May 5, 2023 4:50am
Quoting Mdjq8792
Hello guys, hope you're all well. It's nice to see more activity recently and I intend to contribute more, not only with the pdf (still in the works) but also with trades espacially failed trades which I must honestly admit haven't shared that often. I myself took a little time off this week to examine why I'm still bearly breaking even, making some good trades and then giving it all away again. Little hint is given above, I wasn't able to accept failure or share it and in the process learn from it. After all trading is most psychological and it...
I think subconsciously we want to succeed, so when we fail in trading, when the end result is a drawdown, we feel like failures. That creates most problems. I no longer see the results of trading as a means to gouge my rate of success/failure. There are other areas where I have success and that feeds my ego. So I focus mostly on the process of acquiring the experience, which means lots of screen time and trying to stick to simple rules while avoiding most of the stupid mistakes I am prone to do. I am happy I can recognize when I am going wrong in the moment and then stop the mistakes, which saves a lot of time and effort. Posting regularly helps as well. I dont post most of the failed trades though still. Mostly because there is nothing spectacular in those. I havent done anything REALLY stupid for at least a month. Small tiny losses (or small wins) lately when I try to take a stab and then I get out when I feel it is not working.
  • #16,763
  • May 5, 2023 4:54am May 5, 2023 4:54am
Quoting 2hpriest
This guy left us, went thread hopping in search of the Holy Grail and this is what he posted on his new "Make Me Rich" thread. Had he done like you, he would have done much better, but who knows? Wow, Really, Strat you are indeed amazing. Its intriguing to note how you are able to dig out these information. I have even forgotten that I went 'thread hopping' to this site. I saw the link here posted by one your regulars and only visited it to see what he was doing there. I am however happy that there is a possibility that you believe in me becoming...
The only thing that will work is

  1. Having a method to trade.
  2. Focus on implementing above method.
  3. Be honest with yourself.
  4. Post EVERYTHING so that you can get feedback (and prepare your ego for the beating it will receive)
  5. LEARN and repeat

NO ONE really cares about your trades. Just use the feedback (if any) to see different perspectives. Then use what you will have learned to REDUCE things you pay attention to and not complicate it.
Personally I have reached a point where the only thing I can reduce is to remove many EMAs from the main chart, but I am not sure if there is a benefit to it.
Below is how my charts look like lately.

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And I don't feel that I need to add anything. All the information I need is there
  • #16,764
  • May 5, 2023 5:06am May 5, 2023 5:06am
Quoting bistolis
{quote} The only thing that will work is Having a method to trade. Focus on implementing above method. Be honest with yourself. Post EVERYTHING so that you can get feedback (and prepare your ego for the beating it will receive) LEARN and repeat NO ONE really cares about your trades. Just use the feedback (if any) to see different perspectives. Then use what you learned to REDUCE things you pay attention to and not complicate it. Personally I have reached a point where the only thing I can reduce is to remove many EMAs from the main chart, but I...
Thank you for this friendly response.
As Strat will repeatedly say, 'in the spirit of traders helping traders'.
As they say, 'a word is enough for the wise'.
Will signpost this tips somewhere on my trading desk, so that i can read it everyday.
Thank you
  • #16,765
  • May 5, 2023 10:38am May 5, 2023 10:38am
YM M2 - maybe done with subjective trades for the day - manipulation was very strong, especially Nasdaq.

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  • #16,766
  • May 5, 2023 1:29pm May 5, 2023 1:29pm
M1 EURO

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We know that BRN 1.10 is important to Smart Money (see earlier posts)
The Hammer in the blue ellipse was on very high volume telling us that was an exhaustion/stopping candle meaning that the Smart Money Sellers are finished.
This was confirmed by the 3 red candles ending in the yellow ellipse on very low volume meaning no Smart Money sellers or buyers.
PA was unstable and erratic until around 7:15am my time.
The cross of the 200 suggested PRICE was moving into an up trend which was confirmed by the Strat Shadow.
Took a huge loss in the red ellipse - why I tried to short a growing up trend bouncing off the 200 I really don't know, and then compounded my error, by believing (damn Little People) PRICE would continue the down trend to BRN 1.10 again.
The doji Hammer later put me back on course in the up saddle again.
Took the next bounce off the 200 and continued up to Fibonacci
Took the next close over M1 resistance up to the blue dashed Strat lines.
PA became unstable as volume disappeared.
Huge volume as PRICE closed below the Strat Shadow down to Fibonacci.
Volume is still above average meaning the Smart Money may not be done - but I am.
15 YEARS OF PASR ON FOREX FACTORY!
  • #16,767
  • Edited 4:22pm May 5, 2023 1:40pm | Edited 4:22pm
Quoting Strat
Took a huge loss in the red ellipse
Maybe 8 ticks? Ain't no thang! Stop chasing perfection or the little people will grow stronger!

edit - looked at some charts and answered my own q
  • #16,768
  • May 6, 2023 12:21am May 6, 2023 12:21am
Quoting Strat
{quote} I don't really know how Strat handles his drawdown. I pick my spots so that I have small stops most of the time. As I have posted many times, I have a low tolerance for draw down and continue to struggle with it. I have tried, and keep trying, many different scenarios to handle it although how I am doing it now is much less stress than before. I am learning through posting and reviewing my own trades. It is so valuable you can't put a price on it, especially when you consider comments from other like minded traders. People though hardly...
can you share more info how you are handle drawdown, what scenarios?
  • #16,769
  • May 6, 2023 8:13am May 6, 2023 8:13am
Quoting olvus
{quote} can you share more info how you are handle drawdown, what scenarios?
Handling DD might be the wrong way to look at it - you only "handle" DD in game theory or frequency-based strategies running iterations of trades.

This is subjective trading with discrete entries and exits. You have winners or losers - if you don't have an SL level in mind when you enter your trade, you have already failed. If you are advanced, I could potentially see a reason for moving the SL during the trade, but moving it against your own interest obviously adds risk to an already amorphous model.
  • #16,770
  • May 6, 2023 9:07am May 6, 2023 9:07am
Quoting Barbaresco
{quote} Maybe 8 ticks? Ain't no thang! Stop chasing perfection or the little people will grow stronger! edit - looked at some charts and answered my own q
Stop chasing perfection

You are very astute - that is another of my faults as the Big Boss lets me know when I do anything.

My chart broker (MT5) is measured in points - how many ticks in a point?

It is actually worse than that because of the discrepancy between my charting broker and my trading account broker resulting in considerable slippage. It was also way more than I normally allow PRICE to go against me. Under normal trading conditions I have a really good idea of how far PRICE moves against me (SL) from my entry and how far it goes with me from entry (TP) - the big problem is recognising what is "normal" and what is not.

Having re-lived that trade, I recognise and accept I was "walking on water" (Step 4 on Post 1) and I accept I deserved the stress and loss I took.

Before you edited your post, you had a question on the value of my futures volume. If you have read my posts on the problems I have with broker's volumes, you will know it is a huge issue for me as I know a little bit about volume from when I traded Futures and Commodities back in the 80s. The volumes on my charting platform, MT5, and my trading account platform are as much use as a crack in a glass eye!

These last few weeks, I have been trialing another futures broker whose volumes seem much more accurate. The real test for me was Friday NFP where their volumes aligned with my prior knowledge of volume and it's interaction with PRICE. The problem with that is the number of charts I have to watch so, after I have checked out other issues with them and everything works out good, I will change my trading account broker and learn their charting platform so that I can dump MT5.
15 YEARS OF PASR ON FOREX FACTORY!
  • #16,771
  • May 6, 2023 9:24am May 6, 2023 9:24am
Quoting Mdjq8792
Hello guys, hope you're all well. It's nice to see more activity recently and I intend to contribute more, not only with the pdf (still in the works) but also with trades especially failed trades which I must honestly admit haven't shared that often. I myself took a little time off this week to examine why I'm still barely breaking even, making some good trades and then giving it all away again. Little hint is given above, I wasn't able to accept failure or share it and in the process learn from it. After all trading is most psychological and it...
Good to read your post, Mdjq8792.

I intend to contribute more, not only with the pdf (still in the works) but also with trades especially failed trades which I must honestly admit haven't shared that often.

These, when coupled with comments from like traders, are far more valuable than any winning trades, especially when you air them for all to see. Trading is around 90%, maybe more, psychology, and the more you address and accept this, especially losing trades, the better trader you will become.

I wasn't able to accept failure or share it and in the process learn from it.

Another of my faults. As your fellow Italian, Brabaresco, points out, I am a perfectionist and don't like to be wrong so, in trading, I have to change my mindset and accept that no-one is perfect, least of all me. Now that you recognise this, work more on conquering it rather than the technical charting.

Speaking of Italians, where is the other Italian Stallion - Massimiliano - Max74Italy?
15 YEARS OF PASR ON FOREX FACTORY!
  • #16,772
  • May 6, 2023 9:25am May 6, 2023 9:25am
Quoting bistolis
{quote} The only thing that will work is Having a method to trade. Focus on implementing above method. Be honest with yourself. Post EVERYTHING so that you can get feedback (and prepare your ego for the beating it will receive) LEARN and repeat NO ONE really cares about your trades. Just use the feedback (if any) to see different perspectives. Then use what you will have learned to REDUCE things you pay attention to and not complicate it. Personally I have reached a point where the only thing I can reduce is to remove many EMAs from the main chart,...
Well said, bistolis, thank you
15 YEARS OF PASR ON FOREX FACTORY!
  • #16,773
  • May 6, 2023 9:28am May 6, 2023 9:28am
Quoting bistolis
{quote} I think subconsciously we want to succeed, so when we fail in trading, when the end result is a drawdown, we feel like failures. That creates most problems. I no longer see the results of trading as a means to gouge my rate of success/failure. There are other areas where I have success and that feeds my ego. So I focus mostly on the process of acquiring the experience, which means lots of screen time and trying to stick to simple rules while avoiding most of the stupid mistakes I am prone to do. I am happy I can recognize when I am going...
Big steps on THE PATH - good job, bistolis
15 YEARS OF PASR ON FOREX FACTORY!
  • #16,774
  • May 6, 2023 2:54pm May 6, 2023 2:54pm
Quoting Strat
{quote} Before you edited your post, you had a question on the value of my futures volume. If you have read my posts on the problems I have with broker's volumes, you will know it is a huge issue for me as I know a little bit about volume from when I traded Futures and Commodities back in the 80s. The volumes on my charting platform, MT5, and my trading account platform are as much use as a crack in a glass eye! These last few weeks, I have been trialing another futures broker whose volumes seem much more accurate. The real test for me was Friday...
I checked my broker's volume, built on ticks as well as built on bid/ask to search for efficacy, as I had never found any with indices. As before, NQ, YM, SPY did not show anything, but 6E did, so perhaps it's useful for limited instruments. I'll be checking CL, and other currency futs as well. Let's hope it's not one of those that works 1 week but not another... broker volume is at best a correlative proxy, and that's risky when trying to predict M1 euphoria/exhaustion.
  • #16,775
  • May 7, 2023 8:45am May 7, 2023 8:45am
Quoting Barbaresco
{quote} I checked my broker's volume, built on ticks as well as built on bid/ask to search for efficacy, as I had never found any with indices. As before, NQ, YM, SPY did not show anything, but 6E did, so perhaps it's useful for limited instruments. I'll be checking CL, and other currency futs as well. Let's hope it's not one of those that works 1 week but not another... broker volume is at best a correlative proxy, and that's risky when trying to predict M1 euphoria/exhaustion.
broker volume is at best a correlative proxy

Indeed, I have posted before that we have to trade through retail brokers whereas International Banks, Hedge Funds etc have their own internal brokers where the real volume is. Meanwhile, I will continue to test the volume with my trial broker.
15 YEARS OF PASR ON FOREX FACTORY!
  • #16,776
  • May 7, 2023 11:31am May 7, 2023 11:31am
Quoting Strat
{quote} broker volume is at best a correlative proxy Indeed, I have posted before that we have to trade through retail brokers whereas International Banks, Hedge Funds etc have their own internal brokers where the real volume is. Meanwhile, I will continue to test the volume with my trial broker.
It's all segmented now - you only have access to the volume that you pay for - each liquidity pool requires a subscription fee, and some have capital and/or membership barriers as well. It's all rigged so the bigger players have more and more edge.
  • #16,777
  • May 8, 2023 6:08am May 8, 2023 6:08am
fooled me a couple of times today
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The direction is ok though. According to the process.
Being very slow PA, I will focus more after the open
  • #16,778
  • Edited 9:00am May 8, 2023 8:47am | Edited 9:00am
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and exit
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unfortunately PA is giving me some trouble lately. having me guessing and not providing some easy trades. had a few losers before this trade at the same spot. I either win or learn as they say
first and second arrows failed and then no3 survived.
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  • #16,779
  • May 8, 2023 8:57am May 8, 2023 8:57am
Quoting bistolis
{image} and exit {image}
Nice, I also grabbed that drop, but got whipped on Euro all morning as I was feeling smart let's see if I can get revenge via martingale, I kid, I kid
  • #16,780
  • May 8, 2023 9:02am May 8, 2023 9:02am
Quoting Barbaresco
{quote} Nice, I also grabbed that drop, but got whipped on Euro all morning as I was feeling smart let's see if I can get revenge via martingale, I kid, I kid
I am waiting for some kind of retracement to see how this might continue.

I stopped feeling smart after getting my ass kicked so many times

PS I messed up this
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