Strat's PASR Long Term, Stress Free Trad

Back to point 1 – start!

I have closed my private website and disclosed all my trade-related business interests and have no further interest in promoting or engaging in business-related activities here or anywhere else.

With Forex Factory's consent and cooperation (thank you, Twee), we are returning to the trading system . The forum was originally started on February 27, 2009.

Although this thread has a new name, " Strat's PASR Long-Term, Stress-Free Trading ," the system, strategy, and approach are the same.

My "old" original thread is at https://www.forexfactory.com/showthread.php?t=155459

Those wishing to copy posts, attachments, and links from this thread should do so before it disappears.

My PASR strategy has been very successful and profitable and has generated many consistent profits. I am now a full-time trader who trades for a living. However, this is not an overnight success, nor is it a “get rich quick” strategy. These consistently profitable traders now make a living from trading, on average, taking more than 3 years to reach that status. These traders have read , studied and understood , spent thousands of hours studying thousands of charts and practiced over and over again……

My mission from the beginning has been traders helping traders .

I will help all those who are having trouble sincerely interested in trading for a living but will ignore all those looking for shortcuts or not to read and understand and practice the strategies.

After working here for over 9 years and a similar time on my private website, I have learned that sending signals, announcing trades, and showing my personal trades is only for those with a "get rich quick" mentality.

We learn by doing and making mistakes – we do not learn by copying other people's trades/signals.

Although I have become more mature and tolerant over the years, I will not engage in or accept any arguments or negative discussions. Such posts and posters will be immediately ignored.

Strat's 5 Steps to Become a Consistently Profitable Trader from Experience.

Step 1 – Don’t know what the hell you’re doing!

You've read and heard that Forex trading is " get rich quick " or at least, it's a great way to make money easily from all the marketing promotions (scams) you see and read out there - you know, the ones with a handsome millionaire with his arm around a beautiful busty blonde in a short skirt, leaning against his red Ferrari outside his 12 room mansion overlooking the Pacific Ocean.

So, you jump in with both feet into the deep end (read trade) and drown - because you can't swim! (Unable to trade). Bad luck - it won't happen the next time you think about it. Prices can only go up or down, so what's the big deal and how hard is it? Anyone can do it – right?

When you jump into the abyss, you don't know you can't swim (deal). Then you realize you have no idea what you're doing. You trade a lot and take a lot of risk. These trades go against you, so you have a smart idea to reverse and trade in the opposite direction, only for the price to reverse again……………………………………………………………………………………………………………………………………………………………………………………

You might "eventually" get one or two right, but at what cost would you lose the rest? However, this is the trading devil telling you that it really is that simple, so you start taking more trades, taking on more risks, and losing more money.

Then you read something about money management and "doubling" and you decide that this is the missing piece of your trading puzzle. So you start trying to recoup your losses by doubling them every time you trade. You might be lucky enough to do it once, but you'll end up losing twice as much money! You still don't know how to trade Forex, so you keep trading until eventually the market sucks you in and blows you out of the bubble, wiping you out and taking all your money!
Then comes the next step:

Step 2 – Not knowing what you don’t know what you don’t know, or to give it a fancy name, “conscious incompetence”

This is the eureka moment where you realize that trading involves a lot more work than you initially thought, and that you may have to start reading, learning, and understanding about trading. You finally accept the fact that you cannot make money trading Forex.

Problem solved – buy “ get rich quick ” trading systems, e-books, software, join public Forex forums – search for the Mother of Grails systems from all corners of the earth.

Before you know it, you have become an "expert" at trading systems and start jumping from one method and system to another day after day, week after week, month after month, year after year, but never trading long enough to give you a chance to see that it is profitable.

Whenever you find an indicator that has more flashing lights and fancy features than the last one, you are convinced that this is the indicator that will make you money. You mess around with Fibonacci, support and resistance, supply and demand, pivots, fractals, divergences, price action, ADX, RSI, MACD, CCI, DMI, etc., and everything else you can get your hands on, hoping that the next "thing" is valid. You will become an "expert" at "indicators" and you will start picking tops and bottoms and trying to trade them when price reverses. Losing trades don't matter because you will always increase your trades because now you know you were right!

Eventually, after more losses, you will subscribe to a "live chat room" that you are led to believe is filled with professional traders who trade for a living. You still don't understand what the hell they're doing, so you ask so many "newbie" questions that everyone ignores you. Then you start to distrust what they are doing and the profits they are making and doubt their abilities because after all you know as much as they do and they must be lying about how much money they are making. If I do what they are doing and I lose, how can they win? Finally, someone protected you and gave you good advice, but now you are a stubborn idiot who ignores that advice and continues to trade your way because you believe you know better.

Then you read about signals and signal services so you need to pay for it, but that doesn't work either. Then you decide to spend thousands of dollars attending courses given by those “famous” millionaire traders. But it all goes in one ear and out the other because you stubbornly know it won’t work and you really know best.

This goes on for years because you are now addicted to trading and you are sure you can beat this thing. Eventually, you either give up or continue searching for the Mother of Grail system in public forums.

Statistics show that 60% to 75% of new traders give up after 3 to 6 months. Another 15% continue to hope to become millionaires, only to have their accounts destroyed. The remaining % persisted stubbornly for about 3 years without success, and a very small percentage of them ended up being consistently profitable.

Your obsession with trading will take you to step three

Step Three – The “Eureka” Moment

At the end of step 2, you realize that if trading were really easy, we would all be millionaires!

You begin to realize that trading success is more about " you " and that " you " can make money with a very simple moving average system. You realize that money management and trading psychology do play an important role in trading profitably. You buy, read and listen to everything you can find about trading psychology, and, you know, what are they saying about you! The lightbulb flashes at the speed of light and your trading brain kicks into gear, telling you that the key to making money in trading is you , not the system, the method, or anything else. No wonder you can't find anything that suits you.

You finally realize that just like NASA rocket scientist Dr. Joe planned spacecraft trajectories and moon landings, you cannot accurately predict what the market will do in the next 5 minutes, the next day, or the next month. Then you realize no one can! So since they can't, you stop listening to them or reading about other people who think they can.

Knowing that you are now responsible for your profitability, not the system or method, you will find that one of your systems or methods has a proven winning record and you will feel comfortable and focus 100% on it from the inside out until you understand it completely. You finally stop focusing on other threads and systems because now you have found the Holy Grail and you now know who is staring back at you when you look in the mirror. You then paper trade because you know the broker demo is highly rigged and encourages you to win. You can then trade in real time with your hard-earned real money. When you fail, you don't get angry because you know it's just the cost of doing business. You now know your method very well, and if you implement the correct money management practices, your winners will be much bigger than your losers.

Next, you start looking at your trading results in a different way. You no longer care about daily or weekly performance because now you know that failed trades don't make the system bad, so you can move on to monthly performance. Then you finally realize that you have an “advantage” that you’ve heard others talk about, but more importantly, know that “ you ” are all about the edges! Then you start learning about proper money management, leverage, risk, trading psychology, etc. But this time, you finally understand it and it seeps into your trading brain. Then when you think back to a time when you didn't understand, you smile because now you know you weren't ready then, but now you are. Then you sit back and accept it all happening because you finally realize and accept that it's not about the system or the method, it's about you .

Step 4 - Walking on water

Now, when you see the system settings, you are ready to trade. You let your winners run and eliminate your losers early. You take the loss and move on to the next trade. You know you're making more money with your system than you're losing. You go from breaking even, to making a few pips in profit, to making thousands of pips in profit, thinking that you are now the best Forex trader in the world. Then you start to lose focus on everything that got you to this moment and start taking trades that don’t exist. Then you start losing more than you win, and your confidence starts to suffer. This makes you think that the market has changed and your system is no longer suitable for it, so you start to doubt it. Then you lose faith in it. Then your profits and performance start to plummet out of control. You are then told that you are trying to " walk on water " and the last person who attempted this was hanged and crucified. You finally wake up and realize you've forgotten that your show was for you , not the system or the market, so you beat yourself up and go back to step 3

Step 5 - Autonomous Driving
Eventually, you again avoid walking on water and return to a profitable trade, then continue trading on autopilot. You have become consistently profitable and you are now trading at an unconscious level or "in the zone". You ignore all the "noise" on trading forums because you have mastered your emotions and are in complete control.

You are now the "star" for others, helping them with their transactions and problems. You don't want to pass on your "secrets" because you're afraid they'll misuse them. You then become a "mentor" to many people and pass on your advice freely, even though you know most of it will be wasted on " get rich quick " newbies. While some people will eventually get to where you are by persisting and following your advice, most people (95%) will never get past step 2

Then trading will become boring to you, like there is no challenge in everything you do. You start spending more time helping others get to your trading status to relieve boredom. This will help you because they will ask you something that you do instinctively or that you now take for granted so it refreshes you and your memory.

You'll find that while you once proudly told anyone that you were a consistently profitable Forex trader, you now don't even care or bother anymore because it's just a job, like any other - unless it's on your terms.

summary

Statistics show that only 5% of people who try Forex trading succeed. My experience is about 2%

Ability is not the reason for successful trading. It's drive, dedication, perseverance and the way you approach, acquire and process new information and knowledge. Most importantly, it's about you . You as a person and you as a trader. Trading reveals more about you and your character than any test I know of.

Losers are " get rich faster " as are "blinkers" who fail to see the obvious when it's put in front of them and don't accept new information.

Becoming a consistently profitable trader is no different than becoming a successful heart surgeon or a top prosecutor's attorney - both require an apprenticeship on your part to learn and understand. The duration of the apprenticeship depends on the individual and how soon he becomes aware of Hamilton rather than the system. On average, this takes about 3 years.

Many people don't believe it takes that long and go back to step 2, round and round, until eventually they disappear on their own!

If you knew from the evidence that there would eventually be a job paying millions of dollars a year, how much time would you spend poring over thousands of charts?

strat

Here are also paths used and taken from my now expired private website, which is now free for everyone. Thanks to Tetulla for posting this

https://web.archive.org/web/20120603030719/http://stratsforextrading.com/dokuwiki/doku.php?id=start

For those on the sidelines who are wondering whether to invest the time in learning and applying PASR in their trading, consider Series 3 and 7 from Authorized Professional Traders:





welcome!

strat
October 19, 2017
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