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Lusan's trade Journal

  • #201
  • Aug 28, 2008 5:48am Aug 28, 2008 5:48am
hello LuSan

I just want to say best of luck with your trading... I do not believe you are responsible for fti leaving us. I am deeply saddened by the demise of our community and still in mourning. Hopefully next week I might start trading again. Please stay in touch and thank you for your contributions.

joy
  • #202
  • Aug 28, 2008 8:07am Aug 28, 2008 8:07am
Quoting luSan
Let us consider this strategy.

Pro:
1. Attack and rescue - effective way for managing 5M trades.
2. High win rate - 95+ % if you are patient
3. Clear defined actions -

Con:
1. Huge screen time- you must always babysit trades
2. Intense - demand full concentration for several hours
3. Psychologically draining - always in decision mode: Bear or bull?
4. Martingale-type risky - If wrong, gains are easily wipe out
5. London open best time - Impact my sleep
6. Patience and speed - Both are simultaneouly needed
7. Requires to manage the News impact

Conclusion:
The psychological demands are beyond me a this time. I cannot translate this strategy to a more relaxed trading style. Therefore I will move on to a higher time frame. I will close this journal by the end of the week and start another one with my explorations of a slower and higher time frame.

Note: However, I will keep doing my 5M dances striving for a more relaxed style.
Hey Lusan, Thanks for your contribution, have learnt quite a bit from you, I specially like your 1, 5, 15 min way of trading, I live in the same time zone as you ( Canada, Toronto) and have same challenges as you.
I wish you all the best in the larger time frome trading and will follow you closely although I am not likely to trade larger time frame it spells larger risk to me.
Thanks again bud.
  • #203
  • Aug 28, 2008 8:53am Aug 28, 2008 8:53am
Quoting ksl
Hey Lusan, Thanks for your contribution, have learnt quite a bit from you, I specially like your 1, 5, 15 min way of trading, I live in the same time zone as you ( Canada, Toronto) and have same challenges as you.
I wish you all the best in the larger time frome trading and will follow you closely although I am not likely to trade larger time frame it spells larger risk to me.
Thanks again bud.
Great...you understand...I am in Albany, New York..Best trading for me (us?) is 3:00 am. That is really tough.

Warning: I am planning to do both- my dances and the larger time frame. What I am really doing is telling everyone "adios" and taking a break to rest. I will keep trading and after I addres some personal issues, I start another journal that includes both type of trades. Why stop this journal? Because it is too tight to ftis teachings and I do not want to confuse people with my own and other people ideas. You know, S/R, patterns, and anything that anyone want to talk about.
Empty as water and soft as a facing wind mountain
  • #204
  • Aug 29, 2008 7:12am Aug 29, 2008 7:12am
Good news...I believe just found exactly the missing link that I was creating a block on my dance and solve the 5% problem...I am very happy I could use it for both 5M and 1H trading.. I will be practicing for a while to confirm...then I will start another Journal to share my journey with other forex students.
Empty as water and soft as a facing wind mountain
  • #205
  • Sep 4, 2008 7:17pm Sep 4, 2008 7:17pm
Changing with the market, I go.
I open for business.
Empty as water and soft as a facing wind mountain
  • #206
  • Edited 11:22am Sep 5, 2008 6:54am | Edited 11:22am
Is this a sharp and deep reversal for E/U? She gave back all the year gain. Where is the floor?...Watch out...1.3590...PA is on her way!
Attached Image
Empty as water and soft as a facing wind mountain
  • #207
  • Sep 5, 2008 7:42am Sep 5, 2008 7:42am
Look at this range during the news.
80 pips variabilities...Dancing with the news!
A real killer even for a small scout.
Attached Image
Empty as water and soft as a facing wind mountain
  • #208
  • Edited 11:20am Sep 5, 2008 10:57am | Edited 11:20am
Is trading an art form? I wonder...

Profit: 90 pips, more was possible on the reversal but not on Fridays.
Entries: +1-1+2-2+3+5-5-3

8 5M bars to profit....Ended session when I saw PA in 1M telling me that the upside momentum was gone and the reversal was ready.

How useful are the SMA(12 and 48)? Not much for me...memorabilia...I would be going short after my last (-3) but Fridays are very short trading sessions...if something is wrong I would be carrying multiples trades over Saturday and Sunday and that is a NO NO.
Attached Image (click to enlarge)
Click to Enlarge Name: Beautiful trade.png Size: 820 KB
Empty as water and soft as a facing wind mountain
  • #209
  • Sep 6, 2008 10:41am Sep 6, 2008 10:41am
Quoting fti (#1462)
Your reading of the MM is mostly right, for the example I posted.
The 16 lots attack was a decision , derived that the momentum of the swing towards the support. There is no logical mathematics for that, except that it was a decision for a quick and final attack sequence . (note that the my net available exposure can be only 20 for this example. 4 was used and 16 is the residue unused). Notice that the high exposure was not tolerant of stay in the market, and is used to forage for "foreign capital" to sustain the actual 4 as ammo to ride a little, but risklessly.
This exercise was a favourable run, but there will be instances where all 20 can be at a loss. That would present a rescue scenerio that requires that the trader will exceed his 10% capital at risk. It can escalate to 30 % very quickly dependent on the volatility. So in essence , a rescue of higher order is required. This is difficult for the undercapitalised or unprepared.

For not so experienced traders, they have to be careful to attempt it this way. It is aggressive, but is how professionals operate. The lesson here for the smaller traders, is that, if they did their sums, most traders are actually in effects overtrading, and the leverage facilities accorded them, actually, helping to accelerate their ruin.

It is no rocket science to model this MO. There is no wrongs or rights. And no one can construct a model for another trader. At the end of the day , the trader have to find his own niche and equilibrium.

This is the reasons for my hesitation to bring all except the concepts on the table. That only those who can understand and build their own models will undertake the risk.
Some might wonder why I trade the way I do. This is it; the basic model that I keep always in mind when I trade; my trading MO objective. Both risky and safe but it requires a lot of guts. I believe that anyone that understand this chart understand his strategy: you have skew, you have a simple rescue, you have profit taking, waves and 2 dances.

What is missing? Nothing but the explanation above. The 5% problem solution? Read the red sentences. It is contained there. We need to have the guts to save yourselve with fibo martingale and confidence that the market will end up calming down either into a reversal or a congestion and you will save yourself there in the middle of the storm. (But never on Friday!)...That is what I have been working on for the last weeks.
Attached Image
Empty as water and soft as a facing wind mountain
  • #210
  • Edited 7:03pm Sep 7, 2008 6:18pm | Edited 7:03pm
News flash.

fti closed his thread. He told us he finished presenting his strategy and that we are on our own. I am not surprised. I was expecting it several thousand of posts ago. I sensed that it was time to move on and make real his teaching and that our dependance on the thread was an obstacle on the way. Several months ago I had began the releasing process myself and focused on my weaknesses.

Yesterday I copied the full thread into a word document. It is about 4500 pages! I began pruning that tree: identifying key points and critical strategies, removing non-value posts and relearning the forgotten. When I am done, I will sumarize what I learned. I believe that I could create a 2-10 pages with the essential thoughts. It would a nice book to reread and reread; a book of stories and strategies. Fti's dance book.

As a master teacher he let us go with his final advise:
Quoting fit
I hope that forward, all should develop your skills, as to your best of your abilities. This will be very evident from your P&Ls.
To grow we must be on our own...Gosh! He gave us the teaching, showed us his way, and then released us to do our best. Masterful!

A new journey...However, I am dissapointed that I did not have the opportunity to thanks him enough for his teachings. I feel that I recieved the best Forex teaching available and it will take years to assimilate all his lessons...a lot of work ahead, but I am happy that the little I learned will open the way.

I definitely will miss him and others that used to visit him and share the learning experience...I am also sad that I did not have the chance of giving my farewell to fti's trib...I hope they show around and visit...oh well...nothing last forever

He transferred us to our new dance teacher: PA.
She is tough, she does not hesitate in giving pain and pleasure.
Better watch that 1D and 1H trend.
Better take your profit and preserve your book.
Better give tender care to your babies.
Better be present.
Let us dance.
Empty as water and soft as a facing wind mountain
  • #211
  • Edited 1:34pm Sep 8, 2008 9:31am | Edited 1:34pm
Profit: 138 pips in less than 2 hours.

Entries: -1+1-2-3-5+5-5+5-5+5-5+5+3+2
Blue entry: Reversing? Closed and reposition attack.


Bias: 1D trend
Strategy: fibo size trades, trade highs


Mindset: Very intense and concerned because US stock's future were very high and Oanda disconnected on me. Still just danced the chart, focused on PA. This is how I think fti would dance a range. I would like to honor him with the session.


Of course, there is more downside potential but I had enough.


Lessons:
1. Be fearless and fight it out
2. A lower high might confirm further Euro weakness

Attached Image
Empty as water and soft as a facing wind mountain
  • #212
  • Sep 9, 2008 6:27am Sep 9, 2008 6:27am
"Reminescence stock operator" book
Attached File(s)
File Type: pdf Reminiscences_of_a_Stock_Operator_By_Edwin_Lefevre.pdf   1.7 MB | 389 downloads
Empty as water and soft as a facing wind mountain
  • #213
  • Sep 9, 2008 10:06am Sep 9, 2008 10:06am
nice journal lusan , keep it up and thanks for the book !
To Live is the rarest thing in the world , Most people exist , that is all
  • #214
  • Sep 9, 2008 10:39am Sep 9, 2008 10:39am
Quoting maheswara
nice journal lusan , keep it up and thanks for the book !
Thanks. Feel welcome to stop by anytime.
Empty as water and soft as a facing wind mountain
  • #215
  • Edited 2:24pm Sep 9, 2008 2:14pm | Edited 2:24pm
Profit: 203 pips
Entries: -1-2-3+3-3-5+5+1+3-3-5-8+8+5+5
Max Exposure: 18 troops
Strategy: pure price action

Bias: 1D trend- dollar bull


Mindset: Relaxed. I wanted a long battle. I wanted to fight for hours to test my skew limits and test my mindset against the trend:nerd:...Oh well...PA will teach that lesson some other day. Still I was reminded of something very important: "The battle is not only in the chart but within the trader mind. Trading is spiritual warfare. First we lose in our hearts, then cash follows. If I keep that lesson in mind then the war is almost won." I stopped with a belly full and soul exhausted. Maybe there is more food on the table but that will be someother day.

I wanted to start earlier today but Oanda did not want to connect. I was avoiding the news and Ben speeches. You see, I do not have to be around when the news is out. Now I think that to feed during news announcement is to eat poison!

Gosh!...This is another good example of trading without using any indicators..The SMA(12) you see is a reminder from fti lessons. Note that there is no relations between the entries and the SMA(12)...let us say: a picture frame
Attached Image
Empty as water and soft as a facing wind mountain
  • #216
  • Sep 10, 2008 2:34am Sep 10, 2008 2:34am
Hi LuSan,


I'm stepping in here from time to time, because I like your way of aggressive dancing in a short TimeWindow (you started withg 2 hours only) very much.

I'm very impressed by your really fearless trading sessions the last 2 days.
Great job!

Regards,
MaMood
  • #217
  • Edited 10:50am Sep 10, 2008 7:19am | Edited 10:50am
Quoting MaMood
Hi LuSan,


I'm stepping in here from time to time, because I like your way of aggressive dancing in a short TimeWindow (you started withg 2 hours only) very much.

I'm very impressed by your really fearless trading sessions the last 2 days.
Great job!

Regards,
MaMood
I do not target 2 trading hours anymore. My target is to defeat the enemies: bull/bears and myself.
You are welcome.
Empty as water and soft as a facing wind mountain
  • #218
  • Edited 10:40am Sep 10, 2008 10:21am | Edited 10:40am
Profit: 94 pips

Entries: :-1-2-3-5+5+3+3-1+1
Max Exposure: 11 troops


Strategy: pure price action on pre news environment


Bias: 1D trend- dollar bull


Mindset: Concerned because of the upcoming news at 10:35. I did not want to have too high exposure. Exited final trades and waited. No reaction from the market. I reentered for a quick profit. Stopped trading when I noticed that my mindset was disturbed and mind was tired: there will be another day. Still good day profit. This was a perfect trading session.

Attached Image (click to enlarge)
Click to Enlarge Name: D17.jpg Size: 98 KB
Empty as water and soft as a facing wind mountain
  • #219
  • Sep 11, 2008 6:54am Sep 11, 2008 6:54am
Quoting luSan
"Reminescence stock operator" book
Lusan,have been following ur progress on this thread and am really impress.Tried to open the ebook u posted but came out as error.kindly, repost it cuz i know it will lots of good to me.Thanks

Ayour2a
  • #220
  • Sep 11, 2008 7:14am Sep 11, 2008 7:14am
Quoting ayour2a
Lusan,have been following ur progress on this thread and am really impress.Tried to open the ebook u posted but came out as error.kindly, repost it cuz i know it will lots of good to me.Thanks

Ayour2a
Ayur, I have no problem opening the file. However, I will post it as a zipped one. I hope this will help.

Happy trading
Attached File(s)
File Type: zip Reminiscences_of_a_Stock_Operator_By_Edwin_Lefevre.zip   1.6 MB | 329 downloads
Empty as water and soft as a facing wind mountain
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