How to Parry
Take what I’ll say with a grain of salt, as I didn’t test this and it’s just a feeling I have.
Try parrying just an instant before the attack and when already in full guard position, I think you’ll have more success.
So, in Lies of P, it would seem that enemies actually hit you at frame 1 of their attack animation. I noticed this on multiple occasions, with parries or hits happening when they haven’t connect with my chracter yet. Which means that if you react the very moment they move, it’ll already be too late.
What I did to adapt is learn to guard juuust a bit before they actually move and it seems to work consistently. The problem, however, is that you constantly have to rely on memorization, you have to “feel the moment” to parry.
Hit at frame 1 would also explain why I regularly get hit fully even though I pressed the guard button. Quite often, an enemy will attack, I press the guard button and nothing happens, I just take the full blow.
Now, unrelated to those point, a tip I have is to be on guard early, stay on guard and then tap guard to parry. You can see by tapping guard repeatedly that your character isn’t in full guard position.
However, when you’re already guarding, if you tap guard repeatedly, your character won’t entirely lower the guard before putting it up again. This is another assumption, but I think it’s easier to parry this way because you actually decrease the “travel time” from guard to parry.