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Attachments: Lusan's trade Journal
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Lusan's trade Journal

Quoting luSan
Ayur, I have no problem opening the file. However, I will post it as a zipped one. I hope this will help.

Happy trading
Thanks for the quick reply.i got the ebook.Moreso,quick brief,can you tell me what you want us to learn from this ebook?Although am going to read and understand.Am very grateful.

Ayour2a
  • Post #222
  • Quote
  • Edited 11:06am Sep 11, 2008 10:19am | Edited 11:06am
Quoting ayour2a
Thanks for the quick reply.i got the ebook.Moreso,quick brief,can you tell me what you want us to learn from this ebook?Although am going to read and understand.Am very grateful.

Ayour2a
Ayour,

I do not teach. I study, explore and adapt fti's trading strategy to my own personality. This was a book he recommended in his thread.

Learning from the book? ...watch out with your inner enemies.

How I trade: I pay attention to every single move on the 1M as the 1M creates the 5M...I mean: I am reading the 1M tape and I try to enter against a composite of the inmediate move.

Regards,
Empty as water and soft as a facing wind mountain
  • Post #223
  • Quote
  • Edited Sep 12, 2008 10:32am Sep 11, 2008 10:36am | Edited Sep 12, 2008 10:32am
Profit: 108 pips
Entries: -1+1-2+2-3+3-1+1
Max exposure: 3 troops

Bias: 1D trend
Strategy: Fearless linear attack.

Mindset: Focused and relaxed until the very last 18 pips. I was very anxious to end the day. That was not good at all. I exited when I realized the mental disturbance. Profitwise a perfect day: my current minimum profit target is 100 pips.


Note PA hesistation around 3910. I guess there were quite a few buy order in place. I began paying attention, thinking, and I lost the mindset...Gosh!...Where was my zen mind!...When I trade, I must trade...I should not analyze but watch the bear/bull struggle and trade accordingly.

Lessons:
1. Be fearless and fight it out
2. When trading, do not think but trade!


Note: I will not trade tomorrow because (1) News @ 8:30 and 10:00, and (2) Friday. If I go the wrong way, I do not have enough time for fibo rescue. So I am taking the day off. A good week: 543 pips

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Empty as water and soft as a facing wind mountain
Nice Livermore's quotes I just read:

“A stock operator has to fight a lot of expensive enemies within himself.”
Meaning: the mindset_indecision, hope, fear, greed.

" A man must believe in himself and his judgment if he expects to make a living at this game.”
Meaning: the mindset_what do my eyes see in the present moment?

“The game taught me the game. And it didn’t spare the rod while teaching.”
Mean: My teacher: the market will teach me. The indicators will kill me.
Empty as water and soft as a facing wind mountain
Quoting luSan
Nice Livermore's quotes I just read:

“A stock operator has to fight a lot of expensive enemies within himself.”
Meaning: the mindset_indecision, hope, fear, greed.

" A man must believe in himself and his judgment if he expects to make a living at this game.”
Meaning: the mindset_what do my eyes see in the present moment?

“The game taught me the game. And it didn’t spare the rod while teaching.”
Mean: My teacher: the market will teach me. The indicators will kill me.
i get it now.thanks for the insight...
  • Post #226
  • Quote
  • Edited Sep 13, 2008 12:15am Sep 12, 2008 9:58am | Edited Sep 13, 2008 12:15am
The 1D candles are turning.
Yesterday we had an undecisive piercing pattern and, if things keep going bearish, today we might end up with a morning star pattern, a major 1D PA reversal.

The dollar is losing ground and the bears are back on control. A good reason to trade dollar bearish.

Note: the % are Tom's stock analysis. I am not aware of similar studies done for Forex. Since the candles give us a hint of bear-bull balance, they are probably good enough.
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Empty as water and soft as a facing wind mountain
Hi, Lusan:

Very glad you make pips every day and you also start reading "Reminiscisencs of a Stock Operator".

Btw, it is me I mentioned and talked quotes from this book in his thread, not fti.

Fti's sclaping method is similiar to Jesse's early trading with bucket shops.
Look at these Livermore's rules and my sillies comments on how I the apply in Forex.

Quoting Livermore

  1. Buy rising stocks and sell falling stocks. Agree
  2. Do not trade every day of every year. Trade only when the market is clearly bullish or bearish. Trade in the direction of the general market. If it's rising you should be long, if it's falling you should be short. Somewhat agree. I believe in range trading too
  3. Co-ordinate your trading activity with pivot points. He means S/R. I notice currency being attracted and repelled by S/R. Good places to take profit.
  4. Only enter a trade after the action of the market confirms your opinion and then enter promptly. Possible, however then you would be too late in Forex. What type of confirmation? PA in 1M confirms my moves.
  5. Continue with trades that show you a profit, end trades that show a loss. Maybe. I take profit whenever my mindset is off, and at variable points along the way.
  6. End trades when it is clear that the trend you are profiting from is over. Absolutely!
  7. In any sector, trade the leading stock - the one showing the strongest trend. Something to considering, however at this time, I trade only E/U.
  8. Never average losses by, for example, buying more of a stock that has fallen. Disagree. I do semi-martingale with fibo entries.
  9. Never meet a margin call - get out of the trade. Absolutely!
  10. Go long when stocks reach a new high. Sell when they reach a new low. It depends on the major 1D/1H trends. Shorts: sell on new highs. Longs: Buy on new lows.

Empty as water and soft as a facing wind mountain
Quoting Green_David
Hi, Lusan:

Very glad you make pips every day and you also start reading "Reminiscisencs of a Stock Operator".

Btw, it is me I mentioned and talked quotes from this book in his thread, not fti.

Fti's sclaping method is similiar to Jesse's early trading with bucket shops.
Lord Green, welcome to my house.

Happy to see you around. I think about you sometimes.

Yes, you introduced him to the thread. Jesse was doing some interesting scalping. Look at this:

Quoting Livermore
After that first trade, I got to speculating on my own hook in the bucket shops.... I was playing a system and not a favorite stock or backing opinions. All I knew was the arithmetic of it. As a matter of fact, mine was the ideal way to operate in a bucket shop, where all that a trader does is to bet on fluctuations as they are printed by the ticker on the tape.

Quoting Green_David
I remember in the book "Reminiscenses of a Stock Operator", Livermore said, "your relationship with the market is NOW, you can wait for the reason, but you have to act immediately, otherwise you will be left behind". This is the same with what FTI has said.
I subscribe 100 % to this view.
Empty as water and soft as a facing wind mountain
  • Post #230
  • Quote
  • Edited 11:38am Sep 13, 2008 10:29am | Edited 11:38am
Main rules:
1. Buy low and sell high
2. Never trade with news announcements
3. Never trade on Fridays after 10:00 am
4. Never trade without a relaxed minset
5. Never leave troops overnight

Laws:
1. Mindset is everything.
2. Be fearless.
3. Have enough reserved capital.

Army: 45 troops
Skews Attack: 1-2-3-5-8; Rescue: 5-8-13

Timing: 1M PA volatility.

Max troop size = (Account balance * Leverage)/50
Example: Given Balance: $1000 and leverage: 100:1. Then the max allowed size for a troop is 2000 units. Why not to trade the whole thing? Because I need to have troops to insure against the semi-martingale danger.

Maximum allowed attack exposure: 19 troops. Rescue only in an emergency. Rescue army is not used for trading. Level 3 rescue done at congestion.

Daily profit target: 100+ pips

Main questions:
1-What does the 1D candle say? Standard analysis for bias
2-What is the 1H NOW trend? Is it going up or down? Is it reversing?

Pure PA Strategies:
1. Trend long: "buy lows."
2. Trend short: "sell highs."
3. Profit taken: @ 15 pips or mindset dependent.

Open questions:
1. When to turn on the wind?
2. How to use the 3 kingdoms strategy?
Empty as water and soft as a facing wind mountain
  • Post #231
  • Quote
  • Edited 12:53pm Sep 15, 2008 11:10am | Edited 12:53pm
Profit: 118 pips
Entries: -1-2+2-2-3+3+2+1
Max exposure: 6 troops

Bias: 1D/1H trend
Strategy: Fearless linear attack.


Mindset: Focused and relaxed until after the rescue. Thoughts attacked my mindset: "Is this a top or today will I have a prostrated battle to save the book? Was your analysis wrong? Should I turn on the wind? What should I do?". I held my own and talked myself out from the chaotic fear: "If the day will be long, then I would be practicing/testing my rescue skills. Look at the U/Y 30M chart: It is bullish, so you will be fine, etc."


Note:
(1)Worry because of the mess going on on the US stock finance. I waited to the US market open and I saw no impact. ...Oanda with connection problems.

(2) Why I went short? My last Friday analysis concluded that dollar would be weak. Prior to my trading today I saw the 1H telling me the opposite: "Go bull". So I went with the strong dollar. I was a bull.

(3) Nice and perfect trading session~ 1 hour and done for the day

Lessons:
1. Be fearless and fight it out
2. When trading, do not think but trade!

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Empty as water and soft as a facing wind mountain
No trading today...to many economical events are out...I will seat on my hands.
Empty as water and soft as a facing wind mountain
Quoting luSan
Lord Green, welcome to my house.

Happy to see you around. I think about you sometimes.

Yes, you introduced him to the thread. Jesse was doing some interesting scalping. Look at this:






I subscribe 100 % to this view.
Hi, Lusan.

I am flattered to be called Lord. Just call me David.

It is very true that Jesse also traded in bucket shops with scalping. But later when he traded in a geniun brokerage house and after several failure he changed his method he increased his time frame to a big time frame.

I think it is OK to trade scalping way in forex since we use high leverage.

One Monday, the positions I kept longer were closed with almost 300 pips for E/U and G/U. But on Tuesday, the positions kept closed with only 20 pips, but the positions I close fast, the profits are 60 to 30. See? All depends on market situation and movement patter. Unfortunately I couldn't know before hand.

But if the market can give you a chance of 100 pips, why scalping? Of course when your target is 100 pips, have to withstand a possible 50 pips retracement a lot of times.

I am very glad to see you make pips every day. Very impressive and committed to successful trading.

I read your journal every day, since I booked it

Good trading to you.

Profit: 102 pips
Entries: +1+2-5-3+3-2-1-2+2-2-3+3-3+3+2+1
Max deployed troops: 6


Bias: 1D/1H trend mixed
Strategy:“Turn on the wind” and recovery


Mindset:I increased my trading size today: mind a little worry and I misread the bias: “did I want to be wrong?” At the second entry, I concluded that I was again the trend, so I closed and reverted. I danced to recover my 100 pips losses. After recovery, I began a second dance to reach my daily profit target.


My last entry was off time and totally wrong. I was impatient because of the upcoming London close and New York lunch; I wanted to ended and avoid another 2 hours. I did not play my plan and I mistimed the entry. I was not happy and lost the trading mindset.


Not a good day. However, I won the bloody war. I am happy that I won against my own inner enemies.


Lessons:
1. Be fearless and fight to the end.
2. Slow your scout entry.
3. Bad entry? Relax, fix it, and keep trading.

Attached Image
Empty as water and soft as a facing wind mountain
Quoting Green_David
It is very true that Jesse also traded in bucket shops with scalping. But later when he traded in a geniun brokerage house and after several failure he changed his method he increased his time frame to a big time frame.
Yes. He did and that is something to think about.

Quote
I think it is OK to trade scalping way in forex since we use high leverage.
Leverage helps a lot. I wish I have 100:1 with Oanda.Their max is 50:1.

Quote
But if the market can give you a chance of 100 pips, why scalping? Of course when your target is 100 pips, have to withstand a possible 50 pips retracement a lot of times.
Because (1) I do not know if the market will give me my 100+ pips/day. So I steal the 100 pips trading the 5M. This my calculated allowance to justify my forex trading.(2) I relax between trading session and I do not have to worry about an open position going bad on me.

..After I reach my 5M developmental and size goals, I will expand into the higher time frame...I mean: the long sword.

Quote
I am very glad to see you make pips every day. Very impressive and committed to successful trading.

Thanks for you support. I appreciate you visits.
Empty as water and soft as a facing wind mountain

Profit: 179 pips
Entries:
Main strategy: +1+2+3+5-5-1+5-5+5+8-8+8-8-5+5-5-6
Greed damage control: +5+5+8-8-10
Max deployed troops: 19
Bias:1D -long
Strategy:5M rescues


Mindset: Today I did not turn on the wind, but I fought the 5M trend using the normal fib skew. I recovered all my pips and made 90 pips. Impatient, I closed the session because I was tired. Then greed struck! I opened a 5 troops trade to pick up another 10 pips and the troops were trapped. Bad discipline! I ended up trading one more time to rescue the poor 5 soldiers from the teeth of PA sharks. Overexposed I had trouble managing the trade using my standard MO. However, I held my own I chose to fight to the end. It was a test of both my rescue skills and my trading stamina.


A good day until greed spoiled it.


Edit: and what a reversal! I survived!

Lessons:
1. Be fearless and fight to the end.
2. If 1H trends hold, no need to turn against the win.
3. When you close the session, you closed the session.
4. Be patient taking your last profit.

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Empty as water and soft as a facing wind mountain
Reminded of a fti's AOW lesson:

"When one employs battles, if victory takes long, it blunts the military and grinds down its sharpness."

It happened to me today:
After a 3 hours fight, the general was exhausted, inner strugle, and greed-one of the inner enemies took over. I have to walk out from the computer and talk to myself to fight to the bitter end.

As my teacher once said:
"Damage is part of the battle, recovery is essential , victory is the objective."

Now I can rest.
Empty as water and soft as a facing wind mountain
  • Post #238
  • Quote
  • Edited Sep 19, 2008 9:10am Sep 18, 2008 8:51pm | Edited Sep 19, 2008 9:10am
What a period!
Very risky because of total market indecision.
Bull to bear, bear to bull, and so on.
From day to day is changing;
I would guess that NOW is a dollar bull.
Let us see what tomorrow brings.

Edit: now 12 hours laters we see the bears back.
We have blinking candles. No guidance here.
No trading today.
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Empty as water and soft as a facing wind mountain
Quoting luSan
What a period!
Very risky because of total market indecision.
Bull to bear, bear to bull, and so on.
From day to day is changing;
I would guess that NOW is a dollar bull.
Let us see what tomorrow brings.

Edit: now 12 hours laters we see the bears back.
We have blinking candles. No guidance here.
No trading today.

I have no idea why u have a SELL..(unless u r in smaller TF)...As for D1 TF...I am seeing a bullish runaway...

and of course u can't put 20 pips SL when u r in D1 TF...

Sonic
Attached Image
Quoting sonicdeejay
I have no idea why u have a SELL..(unless u r in smaller TF)...As for D1 TF...I am seeing a bullish runaway...

and of course u can't put 20 pips SL when u r in D1 TF...

Sonic
You are correct: I trade the 5M TF...

I do not use SLs...1D and 1H guide my trading bias...

Yes...a bullish runaway seems ongoing NOW but it was not before...Note the alternating bullish, huge volatility, and bear candles within a rising Euro bullish trend...Note the dojis...

It was very difficult to trade this week; however I ended up with 400 pips trading only 3 days...Next week might be another crazy one because of the current financial mess...It feels as we are trading through a extended news event...instead of of 2 min spike, we have a single news announcement throughout the day.
Regards,
Empty as water and soft as a facing wind mountain
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