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Strat's PASR Long Term, Stress Free Trading

  • #17,961
  • May 28, 2024 8:10am May 28, 2024 8:10am
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  • #17,962
  • May 28, 2024 9:28am May 28, 2024 9:28am
Quoting Strat
{quote} On the other hand , am i missing something in the thread? Is it for futures only? Read the first line on Post #2!!!!!!
Exactly how i know it. Rock n roll
  • #17,963
  • May 28, 2024 12:52pm May 28, 2024 12:52pm
I am reading John Carter's book "Mastering the trade" again. He says that traders with experience less than ten years are just fresh meat for the market. So if you think you are stuck after some years or you think you know it all after two, read that again.
Fix up, trade sharp ...
  • #17,964
  • May 28, 2024 10:17pm May 28, 2024 10:17pm
Quoting Hickson
I am reading John Carter's book "Mastering the trade" again. He says that traders with experience less than ten years are just fresh meat for the market. So if you think you are stuck after some years or you think you know it all after two, read that again.
noted.
how long have u been trading?
  • #17,965
  • May 29, 2024 4:13am May 29, 2024 4:13am
Quoting first_major
{quote} noted. how long have u been trading?
For ten years now with a break of two years. So I am still fresh meat according to Carter.
Fix up, trade sharp ...
  • #17,966
  • May 29, 2024 8:20am May 29, 2024 8:20am
Quoting TerryDawe
{image} {image} {image}
Great example of the Power of Time Frames. Thanks Terry
15 YEARS OF PASR ON FOREX FACTORY!
  • #17,967
  • May 29, 2024 8:28am May 29, 2024 8:28am
Quoting first_major
The more you read this and the old thread and analyze charts , the more u know that there is no better, stress free trading strategy better than this. I know STRAT disagrees with Holy Grails, but if you understand the harmony and physiology of this thread and the market, its a Holy Grail. PS: I started live trading with the smallest lot size , and i will not let the Monsters Gremlins in my head overtake me, ill keep the discipline.
I know STRAT disagrees with Holy Grails, but if you understand the harmony and physiology of this thread and the market, its a Holy Grail.

There are many Holy Grails (trading strategies to make money) BUT it is THE TRADER who makes the difference between profitability and loss. There are many who have been on here who were profitable with paper trading BUT when it came to putting their REAL hard earned money on the line by trading at the hard right edge, their emotions overtook their trading brain and they could not make 1 cent of profitability.

Again, the Holy Grail is what you see when you look in the mirror.
15 YEARS OF PASR ON FOREX FACTORY!
  • #17,968
  • May 29, 2024 4:44pm May 29, 2024 4:44pm
Quoting TerryDawe
{image} {image} {image}
Added worker important level. It appears no one was paying much attention to the charts and questioned why this level was not included in original charts. That's fine though, some folks are missing out on some good opportunities.
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  • #17,969
  • May 29, 2024 10:08pm May 29, 2024 10:08pm
Quoting TerryDawe
{quote} Added worker important level. It appears no one was paying much attention to the charts and questioned why this level was not included in original charts. That's fine though, some folks are missing out on some good opportunities. {image}
I personaly did, but for a similar setup on EUR/USD, but got stopped out, as i did my analysis on the daily, but made my entries and SL on the 4h (Which was a mistake)



I Identified this pin bar on the daily and scaled down to 4h to see the pressure and PA.
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I took my trade on the marked 4h candle, which i felt was powerful enough , and put my SL on the high of that candle ( Hope i can get insights where i went wrong). Only to get stopped out from the next candle.
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I really appreciate if Terry or anyone can comment and indicate what my mistake was.
thx
  • #17,970
  • May 30, 2024 5:49am May 30, 2024 5:49am
Quoting first_major
{quote} I personaly did, but for a similar setup on EUR/USD, but got stopped out, as i did my analysis on the daily, but made my entries and SL on the 4h (Which was a mistake) I Identified this pin bar on the daily and scaled down to 4h to see the pressure and PA. {image} I took my trade on the marked 4h candle, which i felt was powerful enough , and put my SL on the high of that candle ( Hope i can get insights where i went wrong). Only to get stopped out from the next candle. {image} I really appreciate if Terry or anyone can comment and indicate...
your stop should be above the 4H highs
  • #17,971
  • May 30, 2024 5:53am May 30, 2024 5:53am
Quoting bistolis
{quote} your stop should be above the 4H highs
Bistolis,
thank you, 4H High as in the swing?

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i am reading post 25 from the thread, am sure STRATS gonna send me there with a whip
  • #17,972
  • May 30, 2024 5:58am May 30, 2024 5:58am
Quoting first_major
{quote} Bistolis, thank you, 4H High as in the swing? {image} i am reading post 25 from the thread, am sure STRATS gonna send me there with a whip
the only entry that makes sense is after the 4H candle close. no other stop will let the trade breathing room
look at Terry's trade on GU . it is the same USD move basically yesterday
  • #17,973
  • May 30, 2024 8:23am May 30, 2024 8:23am
Quoting first_major
{quote} I personaly did, but for a similar setup on EUR/USD, but got stopped out, as i did my analysis on the daily, but made my entries and SL on the 4h (Which was a mistake) I Identified this pin bar on the daily and scaled down to 4h to see the pressure and PA. {image} I took my trade on the marked 4h candle, which i felt was powerful enough , and put my SL on the high of that candle ( Hope i can get insights where i went wrong). Only to get stopped out from the next candle. {image} I really appreciate if Terry or anyone can comment and indicate...
Strat is absolutely correct in the post to which you are referring regarding best stops.
In the case of the EURUSD and GBPUSD these were both "quick hit" trades.
What I like to do is set my stop at the 50 retrace of the PA signal.
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  • #17,974
  • May 30, 2024 11:16am May 30, 2024 11:16am
Quoting TerryDawe
{quote} Strat is absolutely correct in the post to which you are referring regarding best stops. In the case of the EURUSD and GBPUSD these were both "quick hit" trades. What I like to do is set my stop at the 50 retrace of the PA signal. {image} {image}
I appreciate the clarity of your charts, Terry.
Just for clarification the Target is the 200 fib.
  • #17,975
  • May 30, 2024 11:48am May 30, 2024 11:48am
Quoting Lou
{quote} I appreciate the clarity of your charts, Terry. Just for clarification the Target is the 200 fib.
Hey Lou,
Yes if one were using the shadow the target coincides with the worker 200 and the bottom of the shadow.
With no shadow and just candles, the target coincides with the broadening pattern where price stopped and reversed, thus providing another quick hit buying opportunity.
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  • #17,976
  • May 30, 2024 1:36pm May 30, 2024 1:36pm
M30 EURO 06-24 PASR

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15 YEARS OF PASR ON FOREX FACTORY!
  • #17,977
  • Edited 8:48am May 31, 2024 8:27am | Edited 8:48am
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  • #17,978
  • May 31, 2024 1:49pm May 31, 2024 1:49pm
M30 MES 06-24

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M2

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Bulls may not be finished but I am.
15 YEARS OF PASR ON FOREX FACTORY!
  • #17,979
  • Jun 1, 2024 10:17am Jun 1, 2024 10:17am
Quoting TerryDawe
{image} {image} {image}
I'm really surprised no-one has asked this Terry but had you entered as shown, you would have been stopped out on the candle low (assuming the low was not established at the opening of that candle)

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Thanks for posting, Terry
15 YEARS OF PASR ON FOREX FACTORY!
  • #17,980
  • Jun 1, 2024 12:17pm Jun 1, 2024 12:17pm
Quoting Strat
{quote} I'm really surprised no-one has asked this Terry but had you entered as shown, you would have been stopped out on the candle low (assuming the low was not established at the opening of that candle) {image} Thanks for posting, Terry
Good observation Strat.
One would have placed a buy stop a few pips above the 30th candle and trade would have only been triggered where I have highlighted the H1 candle on the 31st.
Price had already retraced to the fib 50 before the entry and never got back anywhere near that once trade was in progress.

Thanks for providing your input, as usual it is very helpful.
Regards
Terry
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