Strat's PASR Long Term, Stress Free Trading

Quoting Hickson

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Cable had a strong weekly close outside the WCC and above resistance. However, I am not going long here atm. The daily looks like it could just have been buyers trading the range. If sellers push it back in the range, there might at least be a good RR on a BASIC PASR trade. BOSS and WORKER: {image} {image}

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Quoting Hickson

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Kept on reading and studying throughout my lunch break today and found unexpected time for trading after work. GBPNZD had multiple rejections from resistance after NY open, then fell back under the 20. I was stopped out on the first short (arrow number four) due to spread, then reentered on the fifth arrow after it failed again to make another high. Closed the trade for 2 R when it had no more follow through and went into consolidation (mark on the bottom). This was all fine for me, had I not taken a long after the first stop out to "retest the...

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Quoting Barbaresco

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{quote} If you trade arrow 1, then your stop is the swing high and TP a new low. If you trade any other arrow, your stop could be a close above arrow 1, with a TP anywhere from 1:1 all the way down to a new low. The point is that all of this analysis is still subject to randomness - all you are trying to do is put your thumb on the scale, not ensure a winner every time. So, trade all of those arrows, or whichever one satisfies your requirements, but trade all opportunities that satisfy, every time, so that your thumb on the scale is actually realized....

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Quoting Hickson

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{quote} Hello Barbaresco, I had to read your post a few times to understand after a long day. If I understood correctly, you are pointing out the importance of having a repeatable setup with a fixed sl location and trade it every time it shows up? First, I think you are right that the sl on my first s/o was too tight. It should have been above the recent highs. Then, do you mean my analysis being subject to randomness or PASR analysis in general? From my understanding, even PASR analysis from more experienced traders is - to some extent - subject...

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Quoting Barbaresco

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{quote} I was away from the thread for a couple of weeks but remember where you were before I went dark. Based on your pic from today, I think you're holding on too tight, i.e. trying to make the perfect entry/perfect trade, instead of making money, which requires less perfection, and more at-bats. I did not mean to recommend a fixed SL or any other rule, only that I noticed your lack of action / potential overthinking, when you could already have some nerves flushed out and some profit in the bank.

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Quoting Hickson

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{quote} Ok, that makes sense. Yet I have reasons for that: I had a break from active trading for about three years and with a demanding and sometimes stressful dayjob, I know that the odds are stacked against me, so I wanted to take it slowly, protecting capital from the start, reading and digesting the thread (which I am still doing everyday). I then needed time to choose a broker and write down a plan - which is still in a refining process. Also, Strat advised me to start with the Worker and only one pair. Since there were no good setups for me...

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Quoting Barbaresco

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{quote} Cool, good deal, I'm only trying to help, and it's also only my opinion. Take whatever is valuable to you and forget the rest!

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Quoting Barbaresco

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Hey fellas, moved to a new house so have been busy. Seems all is status quo here... people banking knowledge and cashmoneys

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