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Strat's PASR Long Term, Stress Free Trading

  • #17,201
  • Aug 31, 2023 11:59am Aug 31, 2023 11:59am
Quoting bistolis
I didn't take the short up top after the news. Two trades so far today. I am not very focused and low on mental energy. {image}
I am not very focused and low on mental energy.

Trading teaches you many things about yourself which you are learning well. Good job, bistolis.
15 YEARS OF PASR ON FOREX FACTORY!
  • #17,202
  • Edited 12:43pm Aug 31, 2023 12:03pm | Edited 12:43pm
Quoting JacobTrades
What up Strat and crew. Made an account to post this. Strat, thanks for the wealth of info! I would be lying if I said I wasn't intimidated by 860 pages of reading, but this is a journey of learning and not a short trip up the street. I traded when I was in high-school and just after I graduated, but hey, I was young. It didn't last very long and I was quite unfocused. One thing I always understood was it's all just people. It's all just emotion. Indicators indicate sure, but it's all just really about price. So when I decided I wanted to try again,...
One thing I always understood was it's all just people. It's all just emotion. Indicators indicate AFTER THE HORSE HAS BOLTED, but it's all just really about price

Welcome. Let's see how long you last this time
15 YEARS OF PASR ON FOREX FACTORY!
  • #17,203
  • Aug 31, 2023 12:07pm Aug 31, 2023 12:07pm
Quoting Barbaresco
{quote} To add: the hardest part is standardizing the subjectivity, so that the historical probabilities remain reliable when live. If you honestly "trade forward" a historical chart, and can't perform the same when live, that is your challenge (mine as well). Hence, the desire to add objective rules - but those inadvertently impact the collective subjective edge. Perpetual enigma.
To add: the hardest part is standardizing the subjectivity, so that the historical probabilities remain reliable when live. If you honestly "trade forward" a historical chart, and can't perform the same when live, that is your challenge (mine as well). Hence, the desire to add objective rules - but those inadvertently impact the collective subjective edge. Perpetual enigma.

I can't find what you are commenting on?
15 YEARS OF PASR ON FOREX FACTORY!
  • #17,204
  • Aug 31, 2023 12:14pm Aug 31, 2023 12:14pm
Quoting Strat
{quote} To add: the hardest part is standardizing the subjectivity, so that the historical probabilities remain reliable when live. If you honestly "trade forward" a historical chart, and can't perform the same when live, that is your challenge (mine as well). Hence, the desire to add objective rules - but those inadvertently impact the collective subjective edge. Perpetual enigma. I can't find what you are commenting on?
the post was deleted by pippoacher. I guess because of one negative comment by someone that doesnt even post in this thread
  • #17,205
  • Sep 1, 2023 9:10am Sep 1, 2023 9:10am
M1 NASDAQ NQ 09-23

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It's Friday ahead of a long weekend and I'm done for the day!
15 YEARS OF PASR ON FOREX FACTORY!
  • #17,206
  • Sep 4, 2023 10:38am Sep 4, 2023 10:38am
M1 NASDAQ NQ 09-23

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15 YEARS OF PASR ON FOREX FACTORY!
  • #17,207
  • Edited Sep 5, 2023 4:10am Sep 4, 2023 10:49am | Edited Sep 5, 2023 4:10am
So far I made it through the first 250 pages in two weeks, reading every post and taking notes. It is shocking what a slow learner I am nowadays, yet I want my plan laid out in detail before putting my hard earned money on the line again. At least it brought me a lot of "light bulb moments" so far.

While working on my trading plan, which also deals with trading psychology, I have discovered a very hard thing that has probably held me back for years. Maybe others can relate to it, as Strat also said that we need to check the cause of repeated errors. So here is what I found to be true for myself:

Do we sometimes take bad trades because of the urge of "doing something"? We do! I remember some certain people when I was very young, usually the ones going with convention, telling me that I had to "go for it" or "should start making money somehow". From their point of view, there was "nothing to wait for" in life or time to "waste" on things like studying life, arts or culture: Everything had to lead to financial gains, or at least something countable, it could also be a relationship to a person that would offer you any benefit.

These people with their overly egoistic beliefs and mindsets pressed hard on me for years, because by nature I am interested in culture, history, arts and healthy relationships without taking advantage of a person. I thought about this deeply and came to the conclusion, that this early influence might still lead me to chase chances, which is totally wrong in trading. In life, there is financial pressure and we need to have an income to pay our bills and often also to be accepted by others (whatever this kind of acceptance is worth). Partly because of these experiences, I have been working hard in different jobs for years and sometimes feeling like I had to prove that me (humble, interested in "non profitable things not worse the time") could find my place / persevere in society among these people and it has turned out I can ...

However, in the market it is totally different. Nobody can force me into a trade or an action. There is no boss (except the BIG BOSS and BOSS) to call my actions and I am the one who decides if i take the trade and I do not have to prove anything to anybody or persuade them using logic. I need to make this clear to myself again and again ...

I hope this makes sense, if not, please ask.
Fix up, trade sharp ...
  • #17,208
  • Sep 4, 2023 4:55pm Sep 4, 2023 4:55pm
Quoting Hickson
So far I made it through the first 250 pages in two weeks, reading every post and taking notes. It is shocking what a slow learner I am nowadays, yet I want my plan laid out in detail before putting my hard earned money on the line again. At least it brought me a lot of "light bulb moments" so far. While working on my trading plan, which also deals with trading psychology, I have discovered a very hard thing that has probably held me back for years. Maybe others can relate to it, as Strat also said that we need to check the cause of repeated errors....
It is shocking what a slow learner I am nowadays

Remember the tortoise and the hare?

Do we sometimes take bad trades because of the urge of "doing something"?

This is the rookie, amateur, holy grail hunter, hobby trader, get rich quick, follow the herd, copy every system they can find, template collector etc., syndrome. Consistently profitable, full time traders, trading for their living WAIT, no matter how long it takes, for their proven set up.

Nobody can force me into a trade or an action. I am the one who decides if i take the trade and I do not have to prove anything to anybody

Exactly! You, and only YOU, are responsible for your success and failure. The egotistical self proclaimed gurus and experts on public forums are all wind and piss and probably know less than you after your digestion of 250 pages.
15 YEARS OF PASR ON FOREX FACTORY!
  • #17,209
  • Sep 5, 2023 12:44pm Sep 5, 2023 12:44pm
M1 NASDAQ NQ 09-23

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Smooth PA heading into NY Open and then erratic PA not in sync with volume for the next 30 minutes. PA too tiring for me to continue.
15 YEARS OF PASR ON FOREX FACTORY!
  • #17,210
  • Sep 5, 2023 1:56pm Sep 5, 2023 1:56pm
Quoting Strat
M1 NASDAQ NQ 09-23 {image} {image} {image} Smooth PA heading into NY Open and then erratic PA not in sync with volume for the next 30 minutes. PA too tiring for me to continue.
NY open was brutal, but you surfed it nicely. I took a couple losses there and then waited until the break of the range - which looked absolutely huge on S15. Decent day after all, but volatility is certainly down for the first 2 days of Sep. Hopefully the holiday stragglers plus news tomorrow will give us some better movement.
  • #17,211
  • Sep 6, 2023 9:33am Sep 6, 2023 9:33am
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  • #17,212
  • Sep 6, 2023 12:58pm Sep 6, 2023 12:58pm
M3 NASDAQ NQ 09-23

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Trades taken on M1 & M3
15 YEARS OF PASR ON FOREX FACTORY!
  • #17,213
  • Edited 3:44pm Sep 6, 2023 3:23pm | Edited 3:44pm
Quoting Strat
{quote} It is shocking what a slow learner I am nowadays Remember the tortoise and the hare? Do we sometimes take bad trades because of the urge of "doing something"? This is the rookie, amateur, holy grail hunter, hobby trader, get rich quick, follow the herd, copy every system they can find, template collector etc., syndrome. Consistently profitable, full time traders, trading for their living WAIT, no matter how long it takes, for their proven set up. Nobody can force me into a trade or an action. I am the one who decides if i take the trade...
I remember the story of the inequal race between hare and tortoise and who won, thank you for pointing it out again. Yes, feeling the urge is amateur thinking, and being aware of the reasons for it is probably the only way for me to stop potential self-sabotage. Subconsciously we tend to repeat irrational errors caused by trauma or bad experiences in the past - though we usually know better, which makes it even worse! Knowing that I still have phases where amateur thinking takes over can put me in quite a bad mood and asking myself if I really want to stop myself from success sometimes ... obviously, the answer is NO, however it has to be the default answer towards the little people!

Setting up the Strat Shadow on the new MT5 (ok, not so new anymore, but the last time I still traded MT4 in 2020) was problematic at first, yet I found a very helpful reply here on the thread. Thanks to mladen, who put the work in!

This is how I remember the Strat Shadow, now on MT5. The colors still need a bit of personal customizing during the next days.
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Fix up, trade sharp ...
  • #17,214
  • Sep 6, 2023 4:47pm Sep 6, 2023 4:47pm
Quoting Hickson
{quote} I remember the story of the inequal race between hare and tortoise and who won, thank you for pointing it out again. Yes, feeling the urge is amateur thinking, and being aware of the reasons for it is probably the only way for me to stop potential self-sabotage. Subconsciously we tend to repeat irrational errors caused by trauma or bad experiences in the past - though we usually know better, which makes it even worse! Knowing that I still have phases where amateur thinking takes over can put me in quite a bad mood and asking myself if I...
Since you are starting from scratch you may want to take a look at Trading View charts as many prefer them and their support to MT 4 & 5
15 YEARS OF PASR ON FOREX FACTORY!
  • #17,215
  • Sep 6, 2023 5:50pm Sep 6, 2023 5:50pm
Quoting Strat
{quote} Since you are starting from scratch you may want to take a look at Trading View charts as many prefer them and their support to MT 4 & 5
Or Multicharts - but ultimately comes down to the intended broker and platforms they support.
  • #17,216
  • Sep 7, 2023 4:43am Sep 7, 2023 4:43am
Quoting Strat
{quote} Since you are starting from scratch you may want to take a look at Trading View charts as many prefer them and their support to MT 4 & 5
Thanks, I might look at Trading View later, taking it step by step on MT5 demo first to watch the market and practice execution. This is one step before paper trading. A potential M5 Trade forming right now on GBPJPY (only watching for practice) but my focus will have to be on the Worker due to my day job. I only plan to add M5 if I have the time (could be NASDAQ, in europe evening time it moves well and I already see a lot on NASDAQ in recent posts). Otherwise I will just have to watch Price and its behaviour for now.
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Fix up, trade sharp ...
  • #17,217
  • Sep 7, 2023 12:58pm Sep 7, 2023 12:58pm
M1 S&P 500 ES 09-23

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15 YEARS OF PASR ON FOREX FACTORY!
  • #17,218
  • Sep 7, 2023 1:09pm Sep 7, 2023 1:09pm
Quoting Hickson
{quote} Thanks, I might look at Trading View later, taking it step by step on MT5 demo first to watch the market and practice execution. This is one step before paper trading. A potential M5 Trade forming right now on GBPJPY (only watching for practice) but my focus will have to be on the Worker due to my day job. I only plan to add M5 if I have the time (could be NASDAQ, in europe evening time it moves well and I already see a lot on NASDAQ in recent posts). Otherwise I will just have to watch Price and its behaviour for now. {image}
taking it step by step on MT5 demo

Don't waste your time with demo since it is heavily manipulated by brokers to fool wannabe traders into a false sense of profit. Always watch the Market on LIVE data.

Based on my 14 year's experience here with students learning PASR, my advice is to focus on one instrument say EURUSD on Forex or Dow on Futures, and stay on the Daily until all your lights are shining brightly. Then drop down to H1 and stay there again until all your lights are shining brightly. Then progress to M5 and stay there until all your lights are shining brightly.
15 YEARS OF PASR ON FOREX FACTORY!
  • #17,219
  • Edited 5:02pm Sep 7, 2023 1:22pm | Edited 5:02pm
Removed because the leghumpers.
  • #17,220
  • Sep 8, 2023 2:26am Sep 8, 2023 2:26am
Quoting Strat
{quote} taking it step by step on MT5 demo Don't waste your time with demo since it is heavily manipulated by brokers to fool wannabe traders into a false sense of profit. Always watch the Market on LIVE data. Based on my 14 year's experience here with students learning PASR, my advice is to focus on one instrument say EURUSD on Forex or Dow on Futures, and stay on the Daily until all your lights are shining brightly. Then drop down to H1 and stay there again until all your lights are shining brightly. Then progress to M5 and stay there until all...
Ok, I have not watched for MT5 brokers in years, except for investing ... but there should be something in EU that is not too much of a bucket shop. Good, so the first thing is to calculate what I need on a 300 pip SL with two positions trading the daily I guess and choose a pair. My risk tolerance is very low these days, it should not be more than 0.5 % on a single trade. I would only increase that when things are consistently going better.

Just a general question because I have not read all yet: What happened to all the FX traders in here? They got what they wanted and vanished forever? (Bistolis still here, but there have been a lot more as far as I remember).
Fix up, trade sharp ...
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