Strat's PASR Long Term, Stress Free Trading

Slow it down and wait. I can definitely see why you were looking for long opp's, but the short took a while to form - with the 123 and then x-wave before the break. Had you fallen in love with the long, blinding you to the short? As long as you can ID why you didn't see the short and learn from it, just wipe the slate clean and get ready for the news in 2 hrs...

Also been noticing your entries actively trying to keep stops super tight. Go back and take a look at some entries - would it be possible to make more money from "worse" entries, or wider stops? Conjecture from afar, but I think the focus on the perfect entry is causing nerves and maybe intermittent partial blindness?

Yes you are right on all points.
I put too much pressure on myself I think. I will have to take it easy once more.
I DID see the short and then my mind froze and I did fuck all
At least I know where I go wrong and working hard to slowly change my patterns

FYI - a decent mgr that makes bonus will have a sharpe around 1-1.5, top of the food chain starts around 3, and you can license tech if you can show 5 or more.

You're subjectively and manually trading at the top of the food chain in terms of metrics... don't beat yourself up. Take a small hit in your ratios, gain sanity, and slowly add a zero (or two) to your dollar returns.

thanks for the encouragement. this week is just terrible performance from me. I am losing money where I should have been making.
The DOW is serving big doses of humility pie today

It's all in your head - self-induced-pressure. Dow has her panties down today - if you still aren't seeing clearly, stop and re-group. Have a few drinks tonight and reset.

YM M2 - 5th wave may extend, but it's enough for me

M5 EURO



M5 DOW

YM M2 - blue's from yesterday downtrend - purple from the end of day uptrend - wave counts not quite as clean, but can't complain - while unnecessary, the sup/res and counts can help give confidence... here, they're starting to cloud things, but they were of help before the candles were made. Initial trendline gave me an extra reason to hit the first short a bit early. I know I shouldn't be thinking here, but I was very dubious of the obviously manipulated move yesterday afternoon and wanted to call the bluff...

M5 EURO



M5 DOW





All hell could break loose if the corrupt, political idiots in the White House don't resolve this debt ceiling issue.

Think of the trillions in balance sheet holes the Fed created by begging and pleading for banks to buy bonds, and then raising rates faster than ever before accounting rule changes to allow them to be marked full value, such that by the time a cashflow issue happens, the entire thing is bankrupt. Hmmmm, who could've predicted this? Certainly not any Fed chair since Volker, or were they all perhaps, playing a trick on us?

Oldie at this point, but a favorite of mine

Another old favorite haven't watched in years but still hilarious

hahaha

YM M2 - done for the week

M1 EURO





Screwed up on 1st trade - low probability trade (counter trend) - didn't WAIT for trade in direction of Strat Shadow.

Volume on trial broker worked fine up until today - either they were off or I was.

So, just you and me left, Barberesco, - don't see much point in posting anymore as you know what you're doing and there's no-one left to help.

I tend to agree - and I'm more than a decade late to the party. I'll keep the tab open for now, and will definitely post if I screw the pooch and need some re-alignment.

I will keep posting anyways. Starting again on monday.

Many times ago I have come to similar conclusion/s and decided to safe time and effort, no regret or resentment on my side, just taking into account some of many facts of trading and of life in general;
- it is a positive and honorable desire to help others, though often "others" are not able to be helped for myriad of reasons
- PASR a great concept applied to trading, both a simple and a complex one ( Is SR part of PA, or something outside of it?, for me SR is part of PA, noetically it is difficult to be otherwise, but others might have valid reasons to treat that issue in a different way. While interpretation of PA apply to every TF, which TFs are to be taken into account, similar question is to be raised in relation to S/R. How one defines S/R and on which TFs. What is the relation between PA and S/R. What constitutes trending/ranging market and how it relates to the above. What is a market structure, ect. These issues and many others have been well addressed on this thread but even a careful student and there are only a few of them is likely to treat this with well entrenched biases, many of them well hidden.)
- Trade management, money management, time and effort set aside for studying and trading
- Emotional side of trading
- Statistic based versus heuristic approach ( while there are many well written books on other subjects, I would draw your attention to two books on the subject os statistic v heuristic, Daniel Kahneman, Thinking fast and slow, and Michael Lewis, The undoing project, obviously it is up to everyone to decide how to invest time and resources.)
The above list is very selective, just an illustration of things involved in trading.
IMHO statistic base approach has a huge advantage above heuristic, unless one learns new heuristic habits based on statistics, eg, trend holds 75%, market is range bound between 70 - 80%, if one cannot understand and apply that understanding, it is better to do exact the opposite to what one intends to do, if one decides to trade, do not trade to begin with, if one decides to sell, just buy or vice versa and manage the trade and one is more likely to do better that otherwise, try it on small lots and see. The reason for what at first time appears as madness is that the market is constructed to take advantage of unlearned heuristic decision, based on false assumption/s and hopes.
Throughout this thread Strat pointed many times to these issues and I do understand one can be tired of repeating that same in finito.
My great appreciation to Strat, his patience and commitment.
Continue to enjoy a well deserved weekend break.
2be

morning present on dow after a short holiday for me

and another one but with bad exit