Lusan's trade Journal | Page 7 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Another Trading Journal - Yuhu's Journal 17 replies

Twitch Journal - Live Journal 4 replies

Lusan Journal III 156 replies

Lusan Journal II 229 replies

My Personal journal up 18% in 2 months going to start a journal 8 replies

Attachments: Lusan's trade Journal
Exit Attachments

Lusan's trade Journal

  • #121
  • May 21, 2008 10:06am May 21, 2008 10:06am
Still learning this thing...always surprised...
ROE= 0.5 %

These are the trades.

Several bad trades...
1. 15M was telling me go short but I was afraid...today is the fed coming out...and 1D and 1H were saying go long...so I went long.
2. Wife came and distracted me...I forgot that PA is unclear...and just waiting so I enter 6k as my first wave...trouble
3. Now if we are in an uptrend then where is the support? third trade was a rescue done a the first support...It failed
4. Now it looks like a pullback...rescue...fail
5. Now wait for the next support.
6. Quick entry...a little confused here...so I exit without losses...
7. Clearly on support...so a long rescue operation without profit taking

Now I just ride the wave to the top and exit at the upper channel resistance.

Lesson...
1-Do not set profit taking with your rescue...but exit my hand...
2-Avoid greed as a pest...you could have got the long rescue out at the peak...but greed took over...ah
Attached Image (click to enlarge)
Click to Enlarge Name: May 21 08 am.jpg Size: 55 KB
Empty as water and soft as a facing wind mountain
  • #122
  • May 22, 2008 9:57am May 22, 2008 9:57am
0.56 % ROE for my first week of trading...With the exception of the first day that I traded against the news by mistake...crazy...Now that news calender is printed and post right in front of my screen...!!

I traded 3-4 hours per day...It seems that will be sufficient and allow the rest of the day for damage control...or staying away from the computer...hey...there is life out there

Biggest learning
1. Relax...play soft music during trading...
2. Avoid all distractions
3. Consider switching to 1M for timing...it has fewer noise
4. Do not do the fast dance...I have plenty of time so go slow
5. Patience...wait for the deep before rescuing
6. Do not be greed...but do not use either PT or stops.
7. Ride position to the next S/R or take profit...AOW advise.

Any way...here are my trades..
Good session with a mistake...At the very end, I wanted to send another scout wave and I went long!...lack of focus...It brought home my scout and I was left over with a bad entry...I quickly exited and renter on the right direction to end the day...I could have trade a little longer but I decide that it was enough and I was already making mistakes...so...out out out...

Now I will go to the library to read science fictions books
Attached Image (click to enlarge)
Click to Enlarge Name: May 22 08 am.jpg Size: 63 KB
Empty as water and soft as a facing wind mountain
  • #123
  • May 22, 2008 9:59am May 22, 2008 9:59am
Quoting crazy_bdog
lusan, I hope your transition to being a full time trader goes smoothly, good luck with your new lifestyle! I will be trading more as well, as I am not teaching summer school this year and I hope the markets are not too quiet over the summer months. I have been away from trading for a couple weeks, it will take me a few days to get a feel for what is going on. I use MT4 to look at longer time frames, I have stopped using the weekly chart as I am trying to simplify my analysis. Let us know how you are doing, next week I will be changing my time frame to 1 am to 8 am eastern time so I have to modify my sleep schedule!
Thanks...Come around and share your views at will
Empty as water and soft as a facing wind mountain
  • #124
  • May 22, 2008 2:42pm May 22, 2008 2:42pm
Quoting luSan
.........

Any way...here are my trades..
Good session with a mistake...At the very end, I wanted to send another scout wave and I went long!...lack of focus...It brought home my scout and I was left over with a bad entry...I quickly exited and renter on the right direction to end the day...I could have trade a little longer but I decide that it was enough and I was already making mistakes...so...out out out.......
Hello Lusan,

Thanks for posting your trades.
May I ask something?

1/ The 1st down arrow (sell) was your first scout, right?
Than the market went the other direction.

2/ The 2nd down arrow (sell) was a recue, right?

3/ Than the long failure and the last down arrow (sell)....
How did you enter? 1,2,5 or 1,3,3 or antoher progression?

Only to understand, according to FTI method how would you name the
"today trading day": attack or rescue?
(For me is a rescue because the market didn't go in the expected direction by your 1st scout and
you had to "rescue him"....)
I try to write my personal book: "FTI for dummies..." http://www.forexfactory.com/images/icons/icon10.gif

Thanks in advance.

Rgs,

Textor
  • #125
  • May 22, 2008 3:28pm May 22, 2008 3:28pm
Quoting textor
Hello Lusan,

Thanks for posting your trades.
May I ask something?

1/ The 1st down arrow (sell) was your first scout, right?
Than the market went the other direction.
>>>yes. It the scout coming out...but I was premature...To eager to attack
3K units

2/ The 2nd down arrow (sell) was a recue, right?
>>>yes. A rescue done. Timing with the 1M
6K units

3/ Than the long failure and the last down arrow (sell)....
How did you enter? 1,2,5 or 1,3,3 or antoher progression?
>>>1-2-2...sometimes I do 1-2-3...it depends on my mood...1-2-2 might becomes 1-2-2-2 (but that is dangerous...never have too many open position...it is nerve resckling!...only happens on rescue mode...if we missread the chart and fight the trend...)

Only to understand, according to FTI method how would you name the
"today trading day": attack or rescue?
>>>Actually it was pure attack with only one rescue...I did not close the scout...so everybody was in attack mode...

(For me is a rescue because the market didn't go in the expected direction by your 1st scout and
you had to "rescue him"....)

>>it is expected to close both trades when you rescue...sometimes I do...but I am not inclined to do it anymore...it problaby the second wave of attack.

I try to write my personal book: "FTI for dummies..." http://www.forexfactory.com/images/icons/icon10.gif
>>>that will be very tough...his metaphores needs to be tasted slowly...and I hope you read AOW..otherwise...

Thanks in advance.

Rgs,

Textor
Enjoy.
Empty as water and soft as a facing wind mountain
  • #126
  • May 22, 2008 7:13pm May 22, 2008 7:13pm
Thank you Lusan.

Your today trade is my typical tade, say 7 of 10 trades...
Your 1st scout is what I mean with "my bad timing",
and very often I am in one
rescue situation as your trade today.

The point is that I always transformed a rescue into an attack,
but not for greed or courage, but for my inexperience.
Now I understand that the rescue is to end the trade
BE or with a few pips of gain. My fault.

It is a long way......

Thanks again.

Textor
  • #127
  • May 22, 2008 10:10pm May 22, 2008 10:10pm
Dear Lusan,

its been sometime since i updated some trades here. hehe. Anyway I'm done for the month, i think. I wont be trading next week as i will be away.

Some updates. Managed to attain a 7.96% gain for May in 12days of trading, i dont trade fridays, although i would have loved to, its for family reasons above others. The account has appreciated 12.88% in total since it started. Amen.

PS:
Its hard to post charts. I havent even posted any trades in my blog too. I always find myself too tired to write anything proper after trading and the entries/exits are frequent, so i cant be going to paint all e time to draw those arrows, it would be a good idea if i have an platform which details my trades. Most likely ill be getting medved's quotetracker or ninjatrader to detail 'em for me. Bloody mbt is not giving me historical data...i'd have to pay for it, blasted.
  • #128
  • May 23, 2008 6:46am May 23, 2008 6:46am
Quoting jest1081
Dear Lusan,

its been sometime since i updated some trades here. hehe. Anyway I'm done for the month, i think. I wont be trading next week as i will be away.

Some updates. Managed to attain a 7.96% gain for May in 12days of trading, i dont trade fridays, although i would have loved to, its for family reasons above others. The account has appreciated 12.88% in total since it started. Amen.

PS:
Its hard to post charts. I havent even posted any trades in my blog too. I always find myself too tired to write anything proper after trading and the entries/exits are frequent, so i cant be going to paint all e time to draw those arrows, it would be a good idea if i have an platform which details my trades. Most likely ill be getting medved's quotetracker or ninjatrader to detail 'em for me. Bloody mbt is not giving me historical data...i'd have to pay for it, blasted.
jest, congratulation...

So...you got about 1 % per day...that makes sense...this is what I convinced myself through demo that is possible....but as we gain experience...more will be likely...the point is to manage the risk...or as some say, 'manage the losses'...

I came out with 0.60 % gain for he week...still changing and adjusting my mind set...Going life from 1h to full day (actually I am done within 3 hrs) takes some adjusting...best time to trade seems to be still london open...now I do US open....another change to adjust...I find that 4 hrs of forex is so intense that some other activity must be done...so I am exploring ETF trading...the same approach -multitime frame but not MM nor stops- ...and very slow...also more forex for position trading with small sizes...

It is a shame that you can not have you charts...I have an idea...you could use my screen capture utilities...then place the image into powerpoint, draw all your arrows and then use the screen capture again...save it into a folder and you are done...this will save you coming back and for....

welcome back
Empty as water and soft as a facing wind mountain
  • #129
  • Edited May 26, 2008 8:49am May 25, 2008 9:13am | Edited May 26, 2008 8:49am
No too much upside potential...EUR is facing resistance at 1.5900 and 1.600

Bias: a weak long

What to do?
Normal dance only...no slow dance until trend definition..do not overexpose...We are probably playing a square channel...

potential long on 1.5550 with resistance @ 1.5900
potential short at 1.5800 with support at 1.5550
Enter only on 15M trend confirmation

-I will probably enter with a small position is this come to be...

Eye on the 15M for minor trend changes...
Attached Image
Empty as water and soft as a facing wind mountain
  • #130
  • May 27, 2008 1:54pm May 27, 2008 1:54pm
Profit target met. Uneasy...See the trade...most against 5M trend...this is a repeat pattern...I need to evaluate my trend analysis...Still met the target because of fti MM strategy...and a more relaxed trading approach...

Mistakes:
1. consecutive entries in front a resistance line...mad!
2. Rescue sucessful but I did not close it and turn it into a scratch and several hours of waiting

Good things:
1. Simultanous profit taking for all position
2.

Not happy at all...Even though I saved the book after trading for 5 hours.
Attached Image
Empty as water and soft as a facing wind mountain
  • #131
  • Edited 3:48pm May 28, 2008 10:22am | Edited 3:48pm
I really do not like trading the US session....any way...I ended the day with 0.40 % ROE...I found a new trick to manage fear...HID THE BOOK when you are losing!!! Simple...

I am not proud of this one either even though the analysis proved correct.

I entered too soon after the news...all analysis indicated that the 15M and 1D rule the day...the dollar is becoming stronger...so I average up...all in rescue mode..level 1...I do not have the gut for level 2 or 3!..first profit taken at B/E without closing...then the trend changed direction so...I set PT to next support...and voila...done...close the book and smile
Attached Image
Empty as water and soft as a facing wind mountain
  • #132
  • May 28, 2008 6:10pm May 28, 2008 6:10pm
Quoting luSan
I really do not like trading the US session....
Hello Lusan,

London open is in my strategy a important level,
I have it marked in my chart, although from the year 2000
Frankfurt open is also a little more important
than before the 2000....
Warning: they are only a outsider's observations. :-)
But this level, London open, is not a fixed price
that I look, but an area price.
Anyway, the first hour is very often very tricky.
Up and down seeking a day trend.
I prefer to begin one hour later
of London open.

Regards,

Textor
  • #133
  • May 29, 2008 8:17am May 29, 2008 8:17am
Gosh...My profit target was met so fast that I do need to find something else to do during the day...

Detail...
1. Scout -Unconscious entry...too soon..I disregarded... 3k units
2. Scout - AGAIN - top of range with the right short bias. 3k units
3. Second wave troop - 6k units

So a narrow range?...another wave?...No..
in the fast dance?.. yes....
could I meet my profit target without another wave?...Let us see...
I waited and It did so...done for the day in a 20 min session...Now I need to figure out what to do with the rest of the day.
Attached Image
Empty as water and soft as a facing wind mountain
  • #134
  • May 29, 2008 8:22am May 29, 2008 8:22am
Quoting textor
Hello Lusan,

London open is in my strategy a important level,
I have it marked in my chart, although from the year 2000
Frankfurt open is also a little more important
than before the 2000....
Warning: they are only a outsider's observations. :-)
But this level, London open, is not a fixed price
that I look, but an area price.
>>>area price?...What do you mean?

Anyway, the first hour is very often very tricky.
Up and down seeking a day trend.
I prefer to begin one hour later
of London open.
>>>That is what I did...Start trading at 4:00 AM..buch notice a bunch of news come around that time...so carefull..
Regards,

Textor
Market seeking for a day trend?
I pay close attention to the 1D trend...it is a good guide about the bullish/bearish climate... For example, this week mostly bearish...
Regards,
Empty as water and soft as a facing wind mountain
  • #135
  • May 29, 2008 8:55am May 29, 2008 8:55am
Quoting luSan
Market seeking for a day trend?
I pay close attention to the 1D trend...it is a good guide about the bullish/bearish climate... For example, this week mostly bearish...
Regards,
Hi,

...area price: not so important... I mean that I don't fix my
attention in the London open price, but in the zone that the market
opened in London....

There are tendencies that you can see in the 1D chart,
but I try to see the day trend in 4H, 30MIN, or 5 min compressed.

Although I still need a lot of practice to dance "acceptably."
FTI "opened my eyes" in this matter.

Regards,

Textor
  • #136
  • May 30, 2008 11:02am May 30, 2008 11:02am
Beaten to the ground...just losses...I just exit because the market will go flat without liquidity so...Out out out..

3 big lessons:
1. Friday as tough days for trading....because no much time to rescue...(even though I did a bunch of them sucessfully...all in level 1 and 2)...but time time time....this strategy does not work on friday..

2. End of the months...All traders want to lock their profit so erratic market...TA does not work and we play with fire...

3. Learn to let go...On the PA change of trend, I did not let go...so burned!

In consequence:
1. Light trading on Friday
2. Never trade on the last day of the month

I will not comment on today trading...it is just trash...although I will reflect on.
Attached Image
Empty as water and soft as a facing wind mountain
  • #137
  • Jun 5, 2008 1:59pm Jun 5, 2008 1:59pm
Were have you been Lusan? i hope your trading is going well.
  • #138
  • Jun 17, 2008 7:14am Jun 17, 2008 7:14am
Hi luSan,

How are you? It would be good to hear that you are back trading successfully.

All the best,
HS
  • #139
  • Jun 17, 2008 9:03am Jun 17, 2008 9:03am
Hapasasa, MH, thanks for coming by...

Still here but I had too much going on. so I stopped the journal briefly...

Still trading but the transition to day trading versus early morning is very hard...too many US news to deal with...I trade testing size until I feel confortable...still toying with the idea of returning to 3:30 am (london market)...too sleepy...but not ready to give up trading during the day...but I am giving up the slow dance...I am back into trainning mode...so much to learn..

I finding very hard the waiting for hours for the right setup witht he normal dance...I am returning to my fast dance...

I passed many hour analyzing the 1H and addressing a key question? What is the trend? So far 1H is totally disappointing...the 1D is not good for me either...why? trend lines and PA speed of change is a better guide for the trend...

Any way, I just finished collecting my 81 pips for the day...I hate the choppiness of day trading... Notice the size of the spikes...huge volatility...

Still a nice one...the first trade was a wrong scout that I exited inmeditely..first wave missed target...the news!!!...then I rescue it and I continues with my waves...so the attack was: 1-2-3-3...

Entry point? I keep an eye on 1M congestions in a 5M countertrend...

Enjoy
Attached Image (click to enlarge)
Click to Enlarge Name: 2.jpg Size: 60 KB
Empty as water and soft as a facing wind mountain
  • #140
  • Jun 30, 2008 11:37am Jun 30, 2008 11:37am
Hi Lusan,
Just dropped by to see your frame of mind.

You seem to be reinventing the wheel.
This can happen, when you get into unfamiliar territory.
When You find your sweet spot, try to build from there, while holding on tight to the basics that brought you there in the first place.

Kissing too many frogs , just will get you confused.
Stay with the wife, mistresses just makes things complicated.

regards.
0 traders viewing now