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Strat's PASR Long Term, Stress Free Trading

  • #17,601
  • Edited 3:25pm Dec 27, 2023 3:05pm | Edited 3:25pm
Quoting Strat
{quote} What were the factors/conditions you used/saw to make this decision?
Hi Strat. Good question. The reason for this trade was essentially "what goes up comes down". I followed my intuition here and basically looked for a pullback after a quite larger move to the upside. And yes, that's exactly what I don't want to do. Following my intuition, only to be slaughtered instead of having some pre-defined daily routine with clear rules of what to do / or not do.

As you can see from my chart posted, price broke the 15 Minute opening range of the London Open 3 times before finally moving up. A rather rare event (trending day). However most days are not like that and so without setting a limit on the amount of orders i will place, i then get stopped out to death, making these 1-2 trending days a month not paying for all the losses.

I also tried to apply some filters. So instead of placing orders every day like a monkey, i would then only enter if price is above a moving average or similar (to go with the "trend"). In sum i then still end up net unprofitable because you not only filter out a few losing days but also the important winners.

Btw, i got stopped out of my little trade. Now Rick it's your moment to write "I TOLD YOU SO!!!" Obviously consolidating now. Always easy to see after the fact could have same as good dropped like a rock (my "opinion").

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Update: Here is an example of a more typical day on GU.

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  • #17,602
  • Dec 27, 2023 5:43pm Dec 27, 2023 5:43pm
Quoting RickM
{quote} There are only two things in front of you, and those two things are the only important factors you should be watching using immerse concentration. Thats current price and current liquidity in front & behind you, the reason you entered now is irrelevant. Candle patterns are worthless one candle later. Looking at your current trade on GBPUSD - I feel you should GET THE FUCK OUT OF THAT TRADE You missed the trend and now it's in consolidation. In fact it's probably a LONG because the liquidity is building on the Short Side, the Algo's are likely...
Sorry Strat, this has got nothing to do with your great thread, one of the best on Forex Factory

No problem, Rick, we are all just trying to help this guy but based on his last posts, he may be beyond redemption.
15 YEARS OF PASR ON FOREX FACTORY!
  • #17,603
  • Dec 27, 2023 5:46pm Dec 27, 2023 5:46pm
Quoting lddd
{quote} Hi Strat. Good question. The reason for this trade was essentially "what goes up comes down". I followed my intuition here and basically looked for a pullback after a quite larger move to the upside. And yes, that's exactly what I don't want to do. Following my intuition, only to be slaughtered instead of having some pre-defined daily routine with clear rules of what to do / or not do. As you can see from my chart posted, price broke the 15 Minute opening range of the London Open 3 times before finally moving up. A rather rare event (trending...
Iddd, if this is your style of trading then I think you need to post on other threads as this, and my earlier thread, are only for trading PASR. Trust you understand.
15 YEARS OF PASR ON FOREX FACTORY!
  • #17,604
  • Dec 28, 2023 3:25am Dec 28, 2023 3:25am
Quoting Strat
{quote} Iddd, if this is your style of trading then I think you need to post on other threads as this, and my earlier thread, are only for trading PASR. Trust you understand.
I didn't want to interrupt your thread either. My concern was actually more of a general nature, whether you could help me. So my first question was whether there was a way to contact you directly. But no problem.

Are there any fixed rules for your strategy regarding the following. I've only been able to read the first 20 posts so far and haven't found anything concrete. - What is being traded - Trading times - Number of trades per day - Entry/Exist criteria - Risk / profit target

Your style of trading here is probably very open-ended.

No matter which “system” thread I scroll through in this forum, everything is somehow wishy-washy. In my opinion ForexFactory should re-brand it to "Post your opinions". Not naming it "systems".

No information about backtests that were carried out or whether a “system” ever worked at all. No information about how many trades you should make, when and where. If you're lucky, you'll find a reasonably objective and concrete entry/exit rule, but that's where it ends.

I mean, it's no wonder that "beginners" like me feel completely lost. The internet is just full of cr4p somehow. Unfortunately, I can't find a mentor in my area or a mentor in general who has demonstrably followed the path and has traded "for a living" and can help you in any concrete way.

Seems like you're completely on your own. Doesn't matter. Once again. Excuse me. I didn't want to disturb you here. Keep going
  • #17,605
  • Edited 1:47pm Dec 28, 2023 4:38am | Edited 1:47pm
Quoting lddd
{quote} I didn't want to interrupt your thread either. My concern was actually more of a general nature, whether you could help me. So my first question was whether there was a way to contact you directly. But no problem. Are there any fixed rules for your strategy regarding the following. I've only been able to read the first 20 posts so far and haven't found anything concrete. - What is being traded - Trading times - Number of trades per day - Entry/Exist criteria - Risk / profit target Your style of trading here is probably very open-ended. No...
Hi Iddd.
Your last few posts read like a dark joke, if that is the case your intuition has led you to cause some reaction/s.
If however unlikely that it is not a joke, it is difficult to know where to start.
The picture comes to mind of a person juggling eight hand grenades, each one without safety pin. It is not safe to be close enough to comment.
Have a good lough or keep juggling!
Make sure losses are small and profits are bigger!
  • #17,606
  • Dec 28, 2023 7:15am Dec 28, 2023 7:15am
Quoting 2be
{quote} Hi Iddd. Your last few posts read like a dark joke, if that is the case your intuition has led you to cause some rection/s. If however unlikely it is not a joke, it is difficult to know where to start. The picture comes to mind of a person juggling eight hand grenades, each one without safety pin. It is not safe to be close enough to comment. Have a good lough or keep juggling!
I have no idea what you mean or what you're getting at. But it's good if I amuse you. That pleases me.
  • #17,607
  • Dec 28, 2023 7:56am Dec 28, 2023 7:56am
Quoting lddd
{quote} Hi Strat. Good question. The reason for this trade was essentially "what goes up comes down". I followed my intuition here and basically looked for a pullback after a quite larger move to the upside. And yes, that's exactly what I don't want to do. Following my intuition, only to be slaughtered instead of having some pre-defined daily routine with clear rules of what to do / or not do. As you can see from my chart posted, price broke the 15 Minute opening range of the London Open 3 times before finally moving up. A rather rare event (trending...
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Create a list of things you want to see on your chart. And wait until those things materialize. Then pull the trigger. There might be days where nothing happens the way you want it to happen.
  • #17,608
  • Dec 28, 2023 8:00am Dec 28, 2023 8:00am
Quoting bistolis
{quote} {image}
That's supposed to tell me that I traded against the trend, isn't it?
  • #17,609
  • Dec 28, 2023 8:04am Dec 28, 2023 8:04am
Quoting lddd
{quote} That's supposed to tell me that I traded against the trend, isn't it?
Didn't you ?
How about this ? Do you want to be short ? It might work out
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  • #17,610
  • Dec 28, 2023 8:34am Dec 28, 2023 8:34am
Quoting bistolis
{quote} Didn't you ? How about this ? Do you want to be short ? It might work out {image}
Yes, I know I went short and ignored the “trend”. As I already said, the “trend” has helped me very little in my trading so far. For me, this is difficult to understand because you always only see the trend in retrospect. And you get a different trend on each time frame you look at. Then if you zoom out more or less you get another different view on the trend. But I'll continue reading here. Maybe I will become enlightened.

So how do you trade this in a practical way. I suppose you go long on a candle closed above the MAribbon and short on a candle closed below it?

So I would have had 3 short signals today. Anything less than a 20 pip stop loss I would probably have been stopped out. Do you only trade GBP/USD on the M15 TimeFrame?

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  • #17,611
  • Dec 28, 2023 1:27pm Dec 28, 2023 1:27pm
Quoting lddd
{quote} Yes, I know I went short and ignored the “trend”. As I already said, the “trend” has helped me very little in my trading so far. For me, this is difficult to understand because you always only see the trend in retrospect. And you get a different trend on each time frame you look at. Then if you zoom out more or less you get another different view on the trend. But I'll continue reading here. Maybe I will become enlightened. So how do you trade this in a practical way. I suppose you go long on a candle closed above the MAribbon and short...
I only trade DOW
maybe here or lower once it pushes through that support
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  • #17,612
  • Dec 28, 2023 2:51pm Dec 28, 2023 2:51pm
Quoting bistolis
{quote} I only trade DOW maybe here or lower once it pushes through that support{image}
Yes, but that's hindsight cherry picking the best entry candle. You trade live. That "perfect" entry candle wasn't there at this time. By the way, any sell entry at this point would have been still against the prevailing trend. Price was still above the 200 MA.

I don't know what the exact criteria for entering or exiting a trade is following the PASR method so i can only guess. There are many posts, even in the old thread. Hard to see/read through.

It feels like that this isn't my style of trading and takes a lot of time watching trading multiple currency pairs or other markets. Strat wrote to only trade the S&P for the New York session (for a living, what ever that means). Maybe he can comment. A lot has probably changed since the topic began. Everywhere there is talk of daily/weekly time frames and many different currency pairs.

Anyhow, thank you.
  • #17,613
  • Dec 28, 2023 4:09pm Dec 28, 2023 4:09pm
Quoting lddd
{quote} I have no idea what you mean or what you're getting at. But it's good if I amuse you. That pleases me.
Hi Iddd
Loose as little as possible. I am not amused, and hope you are not offended.
I have known people losing much more than they could have afforded to loose, please do nor join their company.
Wishing you to be a very profitable trader!!!
Make sure losses are small and profits are bigger!
  • #17,614
  • Dec 31, 2023 9:22am Dec 31, 2023 9:22am
Happy New Year to one and all. Stay safe and well.
15 YEARS OF PASR ON FOREX FACTORY!
  • #17,615
  • Dec 31, 2023 2:00pm Dec 31, 2023 2:00pm
Happy New Year..
My resolution is to read more..... so I will be turning on the captions when I watch TV.
  • #17,616
  • Dec 31, 2023 3:11pm Dec 31, 2023 3:11pm
Happy New Year to All. prosper and stay safe

Regards
Terry
  • #17,617
  • Dec 31, 2023 3:48pm Dec 31, 2023 3:48pm
Happy new year to everyone. Make it a good one!
Fix up, trade sharp ...
  • #17,618
  • Jan 2, 2024 8:14am Jan 2, 2024 8:14am
USDCAD hammer on Boss last week
All high time frame candles are green (Full Time Frame Continuity)
Trade idea:

long above hammer high
stop below hammer close
target high of WCC
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  • #17,619
  • Jan 2, 2024 9:03am Jan 2, 2024 9:03am
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  • #17,620
  • Jan 2, 2024 12:39pm Jan 2, 2024 12:39pm
M1 S&P 500 ES 03-24

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15 YEARS OF PASR ON FOREX FACTORY!
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